Document:

Retirement Contribution Excess Benefit Program

 Exhibit No (10)j 
  
 KIMBERLY-CLARK CORPORATION 
 RETIREMENT CONTRIBUTION EXCESS BENEFIT PROGRAM 
  
 Amended and Restated effective December 31, 2005 
  
 In recognition of the valuable services provided to Kimberly-Clark Corporation (the “Corporation”), and its subsidiaries, by its employees, the Board of Directors of the Corporation (the “Board”)
wishes to provide additional retirement benefits to those individuals whose benefits under the Kimberly-Clark Corporation Retirement Contribution Plan (the “RCP”) are restricted by the operation of the provisions of the Internal Revenue
Code of 1986, as amended. It is the intent of the Corporation to provide these benefits under the terms and conditions hereinafter set forth. This Program is intended to encompass two plans, (i) an “excess benefit plan” within the
meaning of Section 3(36) of Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and, as such, to be exempt from all of the provisions of ERISA pursuant to Section 4(b)(5) thereof and (ii) a non-qualified
supplemental retirement plan which is unfunded and maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees of the Corporation, pursuant to Sections 201, 301 and 401 of
ERISA and, as such, exempt from the provisions of Parts II, III and IV of Title I of ERISA. 
  
 ARTICLE 1 
  
 Definitions

  
 Each term which is used in this Program and also used in the RCP shall
have the same meaning herein as the RCP. 
  
 Notwithstanding the above, for
purposes of this Program, where the following words and phrases appear in this Program they shall have the respective meanings set forth below unless the context clearly indicates otherwise: 
  
 1.1 “Beneficiary” means the person or persons who under this Program becomes
entitled to receive a Participant’s interest in the event of the Participant’s death. The Beneficiary need not be the same as the beneficiary under the RCP. 
  
 1.2 A “Change of Control” of the Corporation shall be deemed to have taken place if: (i) a third person, including a
“group” as defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, acquires shares of the Corporation having 20% or more of the total number of votes that may be cast for the election of Directors of the
Corporation; or (ii) as the result of any cash tender or exchange offer, merger or other business combination, sale of assets or contested election, or any combination of the foregoing transactions (a “Transaction”), the persons who were
directors of the Corporation before the Transaction shall cease to constitute a majority of the Board of Directors of the Corporation or any successor to the Corporation. 
  

 1 

 1.3 “Code” means the Internal Revenue Code for 1986, as amended and any lawful regulations or other
pronouncements promulgated thereunder. 
  
 1.4 “Committee” means the
Incentive Investment Plan Committee named under the Kimberly-Clark Corporation Salaried Employees Incentive Investment Plan. 
  
 1.5 “Earnings” means remuneration when paid, or would have been paid but for an Employee’s deferral election, to a Participant from a Participating Unit
for personal services rendered to such Participating Unit (before any withholding required by law or authorized by the person to whom such remuneration is payable), including overtime, bonuses, incentive compensation, vacation pay, deducted military
pay, state disability payments received, workers compensation payments received and, to the extent such deductions decrease the individual’s base pay, Before-Tax deferrals under the Kimberly-Clark Corporation Salaried Employee Incentive
Investment Plan, contributions under the Kimberly-Clark Corporation Flexible Benefits Plan or any other plan described under Section 125 of the Code, and deferrals under the Kimberly-Clark Corporation Deferred Compensation Plan. Earnings shall
exclude any severance payments (except as provided in Section 4.3 of the RCP), payments made under the Kimberly-Clark Corporation Equity Participation Plans, pay in lieu of vacation, compensation paid in a form other than cash (such as goods,
services and, except as otherwise provided herein, contributions to employee benefit programs), service or suggestion awards, and all other special or unusual compensation of any kind; provided, however that the limitations on Earnings provided for
pursuant to Code Sections 401(a)(17) shall not apply under this Program. Notwithstanding the foregoing, Earnings shall not include any remuneration paid to a Participant after payment of such individual’s Individual Account commences in
accordance with Section 4.9 following the Participant’s Termination of Service. 
  
 1.6 “Effective Date” means January 1, 1997. 
  
 1.7 “Excess Plan” means the plan established as part of the Program for Participants whose Retirement Contributions to the RCP are limited solely by Code Section 415. 
  
 1.8 “Grandfathered Benefit” means the vested amount of the Participant’s
Individual Account as of December 31, 2004, including earnings on such amount thereafter. Such amount shall be determined in accordance with Code Section 409A and any guidance promulgated thereunder. 
  
 1.9 “Individual Account” means the account established pursuant to Section 3.

  
 1.10 “Investment Funds” means the phantom investment funds
established under this Program which will accrue earnings as if the Participant’s Individual Account held actual assets which were invested in the appropriate Investment Fund as defined under the RCP. 
  
 1.11 “Participant” means any Employee who satisfies the eligibility requirements
set forth in Section 2. In the event of the death or incompetency of a Participant, the term shall mean the Participant’s personal representative or guardian. 
  
 1.12 “Program” means the Kimberly-Clark Corporation Retirement Contribution Excess Benefit Program as set forth herein and as the
same may be amended from time to time; provided, however, that the term “Excess Plan” or “SRP” may be used to refer to only one of the two plans encompassed within the Program. 
  

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 1.13 “Retirement Date” means the date of Termination of Service of the Participant on or after he attains age
55 and has 5 Years of Service with the Corporation. 
  
 1.14 “RCP” means
the Kimberly-Clark Corporation Retirement Contribution Plan, as in effect from time to time. 
  
 1.15 “SRP” means the plan established as part of the Program for Participants whose Retirement Contributions to the RCP are limited by the application of the rules, or regulations, of Code
Section 401(a)(4) or the limitations of Code Section 401(a)(17), in either case alone or in conjunction with the limitations of Code Section 415 or whose Earnings are not fully taken into account in determining the Employee’s
Retirement Contributions to the RCP. 
  
 1.16 “Termination of Service”
means the Participant’s cessation of his service with the Corporation for any reason whatsoever, whether voluntarily or involuntarily, including by reasons of retirement or death. 
  
 ARTICLE 2 
  
 Eligibility 
  
 2.1 Any Employee who is a Participant in the RCP on or after the Effective Date and whose Retirement Contributions to the RCP are limited solely by Code Section 415
shall participate in the Excess Plan. Any other Employee who is a Participant in the RCP on or after the Effective Date and whose Retirement Contributions to the RCP are limited by the application of the rules, or regulations, of Code
Section 401(a)(4) or the limitations of Code Section 401(a)(17), in either case alone or in conjunction with the limitations of Code Section 415 or whose Earnings are not fully taken into account in determining the Employee’s
Retirement Contributions to the RCP shall participate in the SRP; provided, however, that no Employee shall become a Participant in the SRP unless such Employee is a member of a select group of management or highly compensated Employees of the
Corporation so that the SRP is maintained as a plan described in Section 201(2) of ERISA. 
  
 2.2 Notwithstanding any of the foregoing provisions of Article 2 to the contrary, any Employee who on the Effective Date is both an active employee of the Corporation or its subsidiaries and is a Participant in the
Kimberly-Clark Tissue Company Defined Contribution Excess Benefit Program (the “KCTC Plan”) must elect to participate in this Program and shall, pursuant to this election, as of the Effective Date, have the amount credited to the
Participant’s Individual Account under the KCTC Plan transferred to this Program. “Active employee” shall not include employees who are in transition assignments or who are on Limited Service as defined under the Scott Paper Company
Termination Pay Plan for Salaried Employees. 
  
 ARTICLE 3

  
 Individual Account 
  
 3.1 The Corporation shall create and maintain an unfunded Individual Account under the Excess
Plan or the SRP, as applicable, for each Participant to which it shall credit the amounts described in this Article 3. Participants entitled to receive Retirement Contributions under the 

  

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RCP shall receive Retirement Contributions under the Excess Plan in an amount as would have been contributed for such Participant under the RCP without
regard to the limitation on benefits imposed by Section 415 of the Code, and calculated using Earnings as defined in this Program, but only to the extent that such amount exceeds such limitations. In addition, each Participant shall receive
Retirement Contributions under the SRP as would have been contributed for such Participant under the RCP without regard to the limitations on benefits imposed by Sections 401(a)(17) and 401(a)(4) of the Code, and calculated using Earnings as defined
in this Program, but only to the extent that such amount exceeds the Retirement Contributions under the RCP. Such Retirement Contributions shall be made for each Participant on the same terms and conditions, at the same times, and pursuant to the
same elections made by the Participant as they would have been if paid under the RCP, were not for such limitations on benefits or Earnings. 
  
 3.2 For the period prior to July 1, 1997, as of the last day of each calendar month, the Corporation shall credit each Participant’s Individual Account with
deemed interest with respect to the then balance of the Participant’s Individual Account equal to 1% plus the rate shown for U.S. Treasury Notes with a remaining maturity closest to, but not exceeded, 7 years, in the “representative
mid-afternoon over the counter quotations supplied by the Federal Reserve Bank of New York City, based on transactions of $1 million or more,” as reported in The Wall Street Journal published on the last business day of each calendar
month; provided, however, the Committee may change this crediting rating at any time for deemed interest not yet credited to an Individual Account. 
  
 3.3 After June 30, 1997 and prior to June 29, 2000, each Participant’s Retirement Contributions under this Program shall be considered allocated to the
Investment Funds in the same proportion as the Participant has elected under the RCP pursuant to Section 6.1 thereof. Effective June 29, 2000, each Participant’s Retirement Contributions under this Program shall be considered
allocated to the Investment Funds according to the Participant’s elections under this Program, independent of the Participant’s elections under the RCP, provided that (i) such Participant’s elections under this Program shall be
made in the same or similar manner prescribed by the Committee for the RCP, and (ii) such Participant’s elections under the RCP as of June 29, 2000 shall be carried over to this Program until such time as the Participant changes them
hereunder. 
  
 3.4 After June 30, 1997 and prior to June 29, 2000,
reallocations between Investment Funds shall be considered made at the same time, in the same proportionate amount, and to and from the same Investment Funds under this Program as those made by the Participant under Section 6.3 of the RCP;
provided, however, that if such Participant has no account balance under the RCP, the Participant may make separate reallocation elections hereunder in a manner prescribed by the Committee. Effective June 29, 2000, reallocations between
Investment Funds shall be considered made according to the Participant’s elections under this Program, independent of the Participant’s elections under the RCP, provided that (i) such Participant’s elections under this Program
shall be made in the same or similar manner prescribed by the Committee for the RCP, and (ii) such Participant’s elections under the RCP as of June 29, 2000 shall be carried over to this Program until such time as the Participant
changes them hereunder. 
  
 3.5 After June 30, 1997 and before June 29,
2000, the Corporation shall credit each Participant’s Individual Account with earnings, gains and losses as if such accounts held actual assets and such assets were invested among such Investment Funds, in the same proportion 

  

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as the Participant has invested in the RCP; provided, however, that if such Participant has no account balance under the RCP, the Participant may make
separate investment elections hereunder in the manner prescribed by the Committee. Effective June 29, 2000, the Corporation shall credit each Participant’s Individual Account with earnings, gains and losses as if such accounts were
invested among the Investment Funds according to the Participant’s elections under this Program, independent of the Participant’s elections under the RCP, provided that (i) such Participant’s elections under this Program shall be
made in the same or similar manner prescribed by the Committee for the RCP, and (ii) such Participant’s elections under the RCP as of June 29, 2000 shall be carried over to this Program until such time as the Participant changes them
hereunder. 
  
 ARTICLE 4 
  
 Distributions of Benefit Supplement 
  
 4.1 Retirement Benefit. Subject to Section 4.5 below, upon a Participant’s
Retirement Date, he shall be entitled to receive the amount of his Individual Account. The form of benefit payment, and the time of commencement of such benefit, shall be as provided in Section 4.4. 
  
 4.2 Termination Benefit. Upon the Termination of Service of a Participant prior to his
Retirement Date, for reasons other than death, the Corporation shall pay to the Participant, a benefit equal to his Individual Account. 
  
 Unless otherwise directed by the Committee, the termination benefit shall be payable in a lump sum as set forth in Section 4.9 following the Participant’s
Termination of Service. Upon payment following a Termination of Service, the Participant shall immediately cease to be eligible for any other benefit provided under this Program. 
  
 4.3 Death Benefits. Upon the death of a Participant or a retired Participant, the Beneficiary of such Participant shall receive the
Participant’s remaining Individual Account. Payment of a Participant’s remaining Individual Account shall be made in accordance with Section 4.4. 
  

4.4 Form of Benefit Payment. Upon the happening of an event described in Sections 4.1, 4.2 or 4.3, the Corporation shall pay to the Participant the amount
specified therein in a lump sum. 
  
 4.5 Limitations on the Annual Amount Paid
to a Participant. Notwithstanding any other provisions of this Program to the contrary, in the event that a portion of the payments due a Participant pursuant to Sections 4.1, 4.2, 4.3 or 4.4 would not be deductible by the Corporation pursuant
to Section 162(m) of the Code, the Corporation, (a) with respect to the portion of the payment that is a Grandfathered Benefit, at its discretion, may postpone payment of such amounts to the Participant until such time that the payments
would be deductible by the Corporation and (b) with respect to the portion of the payment that is not a Grandfathered Benefit, shall postpone payment of such amounts to the Participant until such time that the payments would be deductible by
the Corporation. Provided, however, that no payment postponed pursuant to this Section 4.5 shall be postponed beyond the first anniversary of such Participant’s Termination of Service. 
  

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 4.6 Change of Control and Lump Sum Payments 
  
 (a) If there is a Change of Control, notwithstanding any other provision of this Program, any Participant who has a
Grandfathered Benefit hereunder may, at any time during a twenty-four (24) month period immediately following a Change of Control, elect to receive an immediate lump sum payment of the balance of his Grandfathered Benefit, reduced by a penalty
equal to ten percent (10%) of the Participant’s Grandfathered Benefit as of the last business day of the month preceding the date of the election. The ten percent (10%) penalty shall be permanently forfeited and shall not be paid to,
or in respect of, the Participant. 
  
 (b) If there is a Change
of Control, notwithstanding any other provision of this Program, any retired Participant, or Beneficiary, who has a Grandfathered Benefit hereunder may, at any time during a twenty-four (24) month period immediately following a Change of
Control, elect to receive an immediate lump sum payment of the balance of his Grandfathered Benefit, reduced by a penalty equal to five percent (5%) of the Participant’s Grandfathered Benefit as of the last business day of the month
preceding the date of the election. The five percent (5%) penalty of the retired Participant’s or Beneficiary’s Grandfathered Benefit shall be permanently forfeited and shall not be paid to, or in respect of, the retired Participant
or Beneficiary. 
  
 (c) In the event no such request is made by a
Participant, a retired Participant or Beneficiary, the Program shall remain in full force and effect. 
  
 4.7 Change in Credit Rating and Lump Sum Payments. 
  
 In the event the Corporation’s financial rating falls below Investment Grade, a Participant, retired Participant, or Beneficiary may at any time during a six (6) month period following the reduction in the
Corporation’s financial rating, elect to receive an immediate lump sum payment of the balance of his Grandfathered Benefit reduced by a penalty equal to ten percent (10%) of the Participant’s Grandfathered Benefit or five percent
(5%) of the retired Participant’s or Beneficiary’s Grandfathered Benefit as of the last business day of the month preceding the election. The penalties accrued hereunder shall be permanently forfeited and shall not be paid to, or in
respect of, the Participant, retired Participant or Beneficiary. 
  
 In the event
no such request is made by a Participant, retired Participant or Beneficiary, the Program shall remain in full force and effect. 
  
 4.8 Tax Withholding. To the extent required by law, the Corporation shall withhold any taxes required to be withheld by any Federal, State or local government.

  
 4.9 Commencement of Payments. Unless otherwise provided, commencement
of payments under Section 4.6 or 4.7 of this Program shall be as soon as administratively feasible on or after the last business day of the month following receipt of notice and approval by the Committee of an event which entitles a Participant
or a Beneficiary to payments under this Program. Unless otherwise provided, commencement of payments of a Grandfathered Benefit under Section 4.1, 4.2 or 4.3 of this Program shall be payable in the first calendar quarter of the year following
the Plan year in which the Participant terminates employment from the Corporation for any reason; provided, however, that such a termination shall not be deemed to occur until immediately following the receipt of all payments due to the Employee
under the Scott Paper Company Termination Pay Plan for Salaried Employees. Unless otherwise provided, commencement of payments of the portion of a Participant’s Individual Account which 

  

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is not a Grandfathered Benefit, under Section 4.1, 4.2 or 4.3 of this Program shall be paid as of the later of (i) the first calendar quarter of
the year following the Plan year in which the Participant terminates employment from the Corporation for any reason, or (ii) the date which is six months following the Participant’s separation from service from the Corporation for any
reason (or, if earlier the date of death of the Participant). 
  
 4.10
Recipients of Payments; Designation of Beneficiary. All payments to be made by the Corporation under the Program shall be made to the Participant during his lifetime, provided that if the Participant dies prior to the completion of such
payments, then all subsequent payments under the Program shall be made by the Corporation to the Beneficiary determined in accordance with this Section. The Participant may designate a Beneficiary by filing a written notice of such designation with
the Committee in such form as the Committee requires and may include contingent Beneficiaries. The Participant may from time-to-time change the designated Beneficiary by filing a new designation in writing with the Committee. If a married
Participant designates a Beneficiary or Beneficiaries other than his spouse at the time of such designation, such designation shall not be effective (and the Participant’s spouse shall be the Beneficiary) unless: 
  

	 	(a)	the spouse consents in writing to such designation; 

  

	 	(b)	the spouse’s consent acknowledges the effect of such designation, which consent shall be irrevocable; and 

  

	 	(c)	the spouse executes the consent in the presence of either a Plan representative designated by the Committee or a notary public. 

  
 Notwithstanding the foregoing, such consent shall not be required if the Participant
establishes to the satisfaction of the Committee that such consent cannot be obtained because (i) there is no spouse; (ii) the spouse cannot be located after reasonable efforts have been made; or (iii) other circumstances exist to
excuse spousal consent as determined by the Committee. If no designation is in effect at the time when any benefits payable under this Plan shall become due, the Beneficiary shall be the spouse of the Participant, or if no spouse is then living, the
representatives of the Participant’s estate. 
  
 ARTICLE 5

  
 Vesting 
  
 5.1 The balance of a Participant’s Individual Account shall be 100% vested at the same
time as if the amounts had been credited to the Participant’s Account under the RCP. 
  
 5.2 K-C Aviation Benefit. Notwithstanding any other provision of the Plan, a Participant shall be fully vested in his Individual Account as of the date on which he ceases to be an Eligible Employee under the
Program, if such Participant meets all of the following conditions: 
  

	 	(a)	immediately prior to the Closing Date, as defined in the Agreement of Purchase and Sale dated as of July 23, 1998 by and between the Corporation and Gulfstream Aerospace
Corporation (the “Agreement”), he must have been an Employee employed by the Corporation or K-C Aviation Inc.; and 

  

 7 

	 	(b)	as of the Closing Date, as defined in the Agreement, he must have ceased to be an Eligible Employee solely on account of the sale of the stock of K-C Aviation Inc. pursuant to the
Agreement, and he must either (i) be employed by the Buyer, as defined in the Agreement, immediately after he ceases to be an Eligible Employee hereunder, or (ii) have been on a long-term disability leave of absence from K-C Aviation Inc.
as of the Closing Date, as defined in the Agreement. 

  
 ARTICLE 6 
  
 Funding 
  
 6.1 The Board may, but shall not be required to, authorize the establishment of a trust by
the Corporation to serve as the funding vehicle for the benefits described herein. In any event, the Corporation’s obligations hereunder shall constitute a general, unsecured obligation, payable solely out of its general assets, and no
Participant shall have any right to any specific assets of the Corporation. 
  
 ARTICLE 7 
  
 Administration

  
 7.1 The Committee shall administer this Program and shall have the same
powers and duties, and shall be subject to the same limitations as are set forth in the Kimberly-Clark Corporation Salaried Employees Incentive Investment Plan. 
  

ARTICLE 8 
  
 Amendment and Termination 
  
 8.1 The Corporation, by action of the Board, or the Compensation Committee as designated by the Board, shall have the right at any time to amend this Program in any respect, or to terminate this Program; provided, however, that no such
amendment or termination shall operate to reduce the benefit that has accrued for any Participant who is participating in the Program nor the payment due to a terminated Participant at the time the amendment or termination is adopted. Continuance of
the Program is completely voluntary and is not assumed as a contractual obligation of the Corporation. Notwithstanding the foregoing, this Program shall terminate when the RCP terminates. 
  
 Any action permitted to be taken by the Board, or the Compensation Committee as designated by the Board, under the foregoing provision
regarding the modification, alteration or amendment of the Program may be taken by the Committee, using its prescribed procedures, if such action 
  

	 	(a)	is required by law, or 

  

	 	(b)	is estimated not to increase the annual cost of the Program by more than $1,000,000. 

  

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 Any action taken by the Board, the Compensation Committee as designated by the Board, or Committee shall be made by or
pursuant to a resolution duly adopted by the Board, the Compensation Committee as designated by the Board, or Committee and shall be evidenced by such resolution or by a written instrument executed by such persons as the Board, the Compensation
Committee as designated by the Board, or Committee shall authorize for such purpose. 
  
 The Committee shall report to the Chief Executive Officer of the Corporation before January 31 of each year all action taken by it hereunder during the preceding calendar year. 
  
 ARTICLE 9  
  
 Miscellaneous 
  
 9.1 Nothing contained herein (a) shall be deemed to exclude a Participant from any
compensation, bonus, pension, insurance, termination pay or other benefit to which he otherwise is or might become entitled to as an Employee or (b) shall be construed as conferring upon an Employee the right to continue in the employ of the
Corporation as an executive or in any other capacity; provided, however, that if, at the time payments are to be made hereunder, the Participant or the Beneficiary are indebted or obligated to the Corporation, then the payments remaining to be made
to the Participant or the Beneficiary may, at the discretion of the Corporation, be reduced by the amount of such indebtedness or obligation, provided, however, that an election by the Corporation not to reduce any such payment or payments shall not
constitute a waiver of its claim for such indebtedness or obligation. 
  
 9.2 Any
amounts payable by the Corporation hereunder shall not be deemed salary or other compensation to a Participant for the purposes of computing benefits to which the Participant may be entitled under any other arrangement established by the Corporation
for the benefit of its Employees. 
  
 9.3 The rights and obligations created
hereunder shall be binding on a Participant’s heirs, executors and administrators and on the successors and assigns of the Corporation. 
  
 9.4 The Program shall be construed and governed by the laws of the State of Wisconsin. 
  
 9.5 The rights of any Participant under this Program are personal and may not be assigned, transferred, pledged or encumbered. Any attempt
to do so shall be void. 
  
 9.6 Neither the Corporation, its Employees, agents,
any member of the Board, the Plan Administrator nor the Committee shall be responsible or liable in any manner to any Participant, Beneficiary, or any person claiming through them for any benefit or action taken or omitted in connection with the
granting of benefits, the continuation of benefits or the interpretation and administration of this Program. 
  
 9.7 An application or claim for a benefit under the RCP shall constitute a claim for a benefit under this Program. 
  
 9.8 The Corporation is the plan sponsor. All actions shall be taken by the Corporation in its sole discretion, not as a fiduciary, and need not be applied uniformly to
similarly situated individuals. 
  

 9Outside Directors' Compensation Plan

 Exhibit No. (10)l 
  
 KIMBERLY-CLARK CORPORATION 
 OUTSIDE DIRECTORS’ 
 COMPENSATION PLAN 
  
 EFFECTIVE AS OF NOVEMBER 12, 2003 

 KIMBERLY-CLARK CORPORATION 
 OUTSIDE DIRECTORS’ 
 COMPENSATION PLAN 
 (Effective November 12, 2003) 
  

	1.	INTRODUCTION 

  
 The Kimberly-Clark Corporation Outside Directors’ Compensation Plan (the “Plan”) is intended to promote the interests of Kimberly-Clark
Corporation (the “Company”) and its stockholders by enhancing the Company’s ability to attract, motivate and retain as Outside Directors persons of training, experience and ability, and to encourage the highest level of Outside
Director performance. The Plan is intended to permit the Company maximum flexibility in implementing a compensation policy including aligning the Outside Directors’ economic interests closely with those of the Company’s stockholders by use
of equity based compensation awards. 
  

	2.	DEFINITIONS 

  
 Unless otherwise defined in the text of the Plan, capitalized terms herein shall have the meanings set forth in this Section 2. 
  
 “Affiliate” means any company in which the Company owns 20
percent or more of the equity interest (collectively, the “Affiliates”). 
  
 “Award” has the meaning set forth in Section 3 of this Plan. 
  
 “Board” means the Board of Directors of the Company. 
  
 “Change of Control” means an event deemed to have taken place if: (i) a third person, including a
“group” as defined in section 13(d)(3) of the Securities Exchange Act of 1934, acquires shares of the Company having 20 percent or more of the total number of votes that may be cast for the election of Directors of the Company; or
(ii) as the result of any cash tender or exchange offer, merger or other business combination, sale of assets or contested election, or any combination of the foregoing transactions (a “Transaction”), the persons who were directors of
the Company before the Transaction shall cease to constitute a majority of the Board of Directors of the Company or any successor to the Company. 
  
 “Code” means the Internal Revenue Code of 1986 and the regulations thereunder, as amended from time to time. 
  
 “Committee Rules” means the Committee Rules for the
Kimberly-Clark Corporation 2001 Equity Participation Plan or any successor plan. 
  
 “Compensation Committee” means the Compensation Committee of the Board. 
  
 “Director” means a member of the Board. 
  
 “Effective Date” means January 1, 2001. 
  

 2 

 “Exchange Act” means the Securities Exchange Act of 1934 and the rules and regulations
thereunder, as amended from time to time. 
  
 “Fair Market
Value” means the reported closing price of the Stock, on the relevant date as reported on the composite list used by The Wall Street Journal for reporting stock prices or, if no such sale shall have been made on that day, on the last
preceding day on which there was such a sale. 
  
 “Nominating and Corporate Governance Committee” means the Nominating and Corporate Governance Committee of the Board. 
  
 “Option” means a right to purchase a specified number of shares of Stock at a fixed option price equal to no less than 100 percent of the
Fair Market Value of the Stock on the date the Option is granted. For purposes of this Plan, Options shall be issued either as “Annual Options,” as described in subsection 8(a)(iii), or “Additional Options,” as
described in subsection 8(b). 
  
 “Outside
Director” means a Director who is not on the date of grant of an Award pursuant to the Plan, or within one year prior to the date of such grant, an employee of the Company or any of its Affiliates. 
  
 “Restricted Period” shall mean the period of time during
which the Transferability Restrictions applicable to Awards will be in force. 
  
 “Restricted Share” shall mean a share of Stock which may not be traded or sold, until the date the Transferability Restrictions expire. 
  
 “Restricted Share Unit” means the right, as described in Section 10, to receive an amount, payable in
either cash or shares of Stock, equal to the value of a specified number of shares of Stock. No certificates shall be issued with respect to such Restricted Share Unit, except as provided in subsection 10(d), and the Company shall maintain a
bookkeeping account in the name of the Outside Director to which the Restricted Share Unit shall relate. 
  
 “Retainer” means the annual retainer payable to an Outside Director for services rendered as a Director. As of the Effective Date, the
amount of the cash portion of such Retainer shall be $50,000 per year, payable in quarterly installments in advance. The Board may, from time to time, establish a different retainer amount and/or the method of paying the retainer. 
  
 “Rule 16b-3” means Rule 16b-3 under the Securities Exchange
Act of 1934, as amended. 
  
 “Retirement” and
“Retires” means the termination of service as a Director on or after the date the Director has attained age 55. 
  
 “Stock” means the shares of the Company’s common stock, par value $1.25 per share. 
  
 “Stock Appreciation Right (SAR)” has the meaning set forth
in subsection 8(l)(i) of this Plan. 
  

 3 

 “Transferability Restrictions” means the restrictions on transferability imposed on
Awards of Restricted Shares or Restricted Share Units. 
  

	3.	COMPENSATION 

  
 The Outside Directors will be entitled to receive compensation for their services as a member of the Board, and any of its committees, as may be
determined from time to time by the Board following a review of, and recommendation on, Outside Director compensation made by the Nominating and Corporate Governance Committee. The compensation paid to each Outside Director is referred to herein as
an “Award”, and may be paid in cash, Stock, Options, Restricted Shares, Restricted Share Units, other forms of equity or any combination thereof as is determined by the Board. 
  

	4.	PARTICIPATION AND FORM OF GRANT 

  
 Participation in the Plan is limited to Outside Directors. It is intended that all Outside Directors will be participants in the Plan. 
  
 All Awards under the Plan shall be made in the form of Options, Stock, Cash,
Restricted Shares, Restricted Share Units, other forms of equity or any combination thereof. Notwithstanding anything in this Plan to the contrary, any Awards shall contain restrictions on assignability to the extent required under Rule 16b-3 of the
Exchange Act. 
  

	5.	ADMINISTRATION OF THE PLAN 

  
 The Plan shall be administered by the Board, which shall have sole and complete discretion and authority with respect thereto, except as expressly limited
by the Plan. All action taken by the Board in the administration and interpretation of the Plan shall be final and binding on all matters relating to the Plan. All questions of interpretation, administration and application of the Plan shall be
determined by a majority of the members of the Board, except that the Board may authorize any Directors, officers or employees of the Company to assist the Board in the administration of the Plan and to execute documents on behalf of the Board. The
Board also may delegate to a committee of the Board, or such other Directors, officers or employees, as the Board determines, such other ministerial and discretionary duties as it sees fit. 
  
 The Company or the Board may employ such legal counsel, consultants and
agents as it may deem desirable for the administration of the Plan, and may rely upon any advice or opinion received from any such counsel or consultant and any computation received from any such consultant or agent. No member of the Board shall be
liable for any act done or omitted to be done by such member, or by any other member of the Board, in connection with the Plan, except for such member’s own willful misconduct or as otherwise expressly provided by statute. 
  
 The Board shall have the power to promulgate rules and other guidelines in
connection with the performance of its obligations, powers and duties under the Plan, including its duty to administer and construe the Plan and the Awards. 
  

 4 

 All expenses of administering the Plan shall be paid by the Company. 
  

	6.	TERM OF PLAN 

  
 The Plan shall become effective as of the Effective Date. The Plan shall remain in effect until December 31, 2011, unless the Plan is terminated
prior thereto by the Board. No Awards may be granted after the termination date of the Plan, but Awards theretofore granted shall continue in force beyond that date pursuant to their terms. 
  

	7.	SHARES SUBJECT TO THE PLAN; ADJUSTMENTS 

  
 (a) Shares Subject to the Plan. The aggregate maximum number of shares of Stock available for grant under the Plan shall be 1,000,000 shares,
subject to the adjustment provision set forth in subsection 7(b) below. Shares of Stock subject to the Plan will be shares that were once issued and subsequently reacquired by the Company in the form of treasury stock. Shares subject to Awards which
become ineligible for purchase, and Restricted Shares forfeited, will be available for Awards under the Plan to the extent permitted by section 16 of the Exchange Act (or the rules and regulations promulgated thereunder) and to the extent determined
to be appropriate by the Board. Notwithstanding anything in this Plan to the contrary, each grant of Awards under this Plan shall be subject to the availability of shares under this subsection 7(a). 
  
 (b) Adjustments. In the event there are any changes in the Stock or
the capitalization of the Company through a corporate transaction, such as any merger, any acquisition through the issuance of capital stock of the Company, any consolidation, any separation of the Company (including a spin-off or other distribution
of stock of the Company), any reorganization of the Company (whether or not such reorganization comes within the definition of such term in section 368 of the Code), or any partial or complete liquidation by the Company, recapitalization, stock
dividend, stock split or other change in the corporate structure, appropriate adjustments and changes shall be made by the Board, to the extent necessary to preserve the benefit to the Outside Director contemplated hereby, to reflect such changes in
(a) the aggregate number of shares subject to the Plan, (b) the number of shares and the Award Price per share of all shares of Stock subject to outstanding Awards, and (c) such other provisions of the Plan as may be necessary and
equitable to carry out the foregoing purposes, provided, however, that no such adjustment or change may be made to the extent that such adjustment or change will result in the dilution or enlargement of any rights of any Outside Director.

  

	8.	STOCK OPTIONS 

  
 (a) Annual Grant of Options. Except to the extent that the Board determines otherwise, options may be granted to Outside Directors under the Plan
as follows: 
  

	 	(i)	 The Board, by resolution, may provide that each Outside Director in office on January 1 of the calendar year may be automatically granted an Option to purchase
a number of shares to be determined by the Board. The Board, by resolution, also may provide that each Outside Director who is first elected or appointed to the Board after January 1 of the calendar year, may be automatically granted a pro rata
number of Options hereunder, without 

  

 5 

	 	 
further action by the Board or the stockholders of the Company, on the earlier of the date of the first regular meeting during the calendar year of the Board
or the Compensation Committee after the date such Outside Director first becomes eligible for the grant of Options under this subsection 8(a). The Options to be pro rated will be the amount that would have been paid during the calendar year.

  

	 	(ii)	In addition, the Board, by resolution, may provide that each Outside Director who during the calendar year is designated to serve as the Chair of any one or more of the Audit,
Compensation, or Nominating and Corporate Governance Committees of the Board, or such other committee as may be determined by the Board, may be granted an Option to purchase an additional number of shares for each Chair to be determined by the
Board. 

  

	 	(iii)	A grant of Options as payment of either the annual retainer or for each applicable Chair of a Committee are referred to herein as “Annual Options.”

  

	 	(iv)	Except as otherwise determined by the Board, Annual Options that may be granted to each Outside Director, and each Chair of the Audit, Compensation, or Nominating and Corporate
Governance Committees, as of January 1 of the calendar year, shall be automatically granted, without further action by the Board or the stockholders of the Company, on the date of the February Compensation Committee meeting.

  
 (b) Election of Additional Option. To the
extent determined by the Board, each Outside Director may elect to receive the cash portion of his or her annual Retainer in the form of an additional option (hereinafter referred to as an “Additional Option”), in increments of 50 percent
of such cash portion of the Retainer. Except as otherwise provided below, such election must be made prior to the date that services are rendered in the calendar year in which such Retainer otherwise would be paid and shall be irrevocable thereafter
for such calendar year; provided, however, that an election by an Outside Director pursuant to this subsection for a calendar year (or portion thereof) shall be valid and effective for all purposes for all succeeding calendar years, unless and until
such election is revoked or modified by such Outside Director prior to the date that services are rendered in such succeeding calendar year(s); and, provided further, that no such election, revocation or modification may be made within six months of
another such election, revocation or modification if the exemption afforded by Rule 16b-3 would not be available as a result thereof. 
  
 Notwithstanding the preceding, an individual who is first elected to the Board as an Outside Director during a calendar year may, to the extent determined
by the Board, be permitted to make an election to receive the cash portion of his or her annual Retainer in the form of an Additional Option, in increments of 50 percent of such cash portion of the Retainer, during the thirty day period following
his or her election date. An election under this paragraph shall be subject to the terms and conditions of this Section. 
  
 The number of shares subject to this Additional Option shall be based on 85 percent of the Black-Scholes valuation of the cash portion of the Retainer
elected to be received as an Additional Option as of the date of grant. To the extent Additional 

  

 6 

 
Options are authorized by the Board, each Outside Director as of January 1 of the calendar year, shall be automatically granted the Additional Options
elected hereunder, without further action by the Board or the stockholders of the Company, on the date of the February Compensation Committee meeting. To the extent Additional Options are authorized by the Board, each Outside Director who first
becomes eligible for a grant after January 1 of the calendar year, shall be automatically granted the Additional Options elected hereunder, without further action by the Board or the stockholders of the Company, on the earlier of the date of
the first regular meeting during the calendar year of either the Board or the Compensation Committee after the date such Outside Director first becomes eligible and elects the grant of Additional Options under this subsection 8(b). 
  
 (c) Form of Additional Option Election. An election by an Outside
Director to receive some or all of the cash portion of his or her Retainer as an Additional Option shall (i) be in writing, (ii) be delivered to the Secretary of the Company, and (iii) be irrevocable in all respects with respect to
the calendar year(s) to which the election relates. If no election has ever been made by the Outside Director pursuant to subsection 8(b) above, he or she shall be deemed to have made an election to receive the entire cash portion of the Retainer in
cash. 
  
 (d) Period of Option. The period of each Option
shall be 10 years from the date it is granted. 
  
 (e) Option
Price. The exercise price of an Option shall be the Fair Market Value of the Stock at the time the Option is granted. 
  
 (f) Limitations on Exercise. Each Option shall not be exercisable until at least one year has expired after the granting of the Option, during
which time the Outside Director shall have been in the continuous service as a Director of the Company; provided, however, that the provisions of this subsection 8(f) shall not apply and all Options outstanding under the Plan shall be exercisable in
full if a Change in Control occurs. Commencing one year after the date the Option was granted, the Outside Director may purchase the total number of shares covered by the Option; provided, however, that if the Director’s service is terminated
for any reason other than death, Retirement, a voluntary decision by the Outside Director not to stand for reelection to the Board or total and permanent disability, the Option shall be exercisable only for the number of shares of Stock which were
exercisable on the date of such termination. In no event, however, may an Option be exercised more than 10 years after the date of its grant. 
  
 (g) Exercise; Notice Thereof. Options shall be exercised by delivering to the Company, as directed by the office of the Treasurer at the World
Headquarters, written notice of the number of shares with respect to which Option rights are being exercised and by paying in full the Option Price of the shares at the time being acquired. Payment may be made in cash, a check payable to the Company
or in shares of Stock transferable to the Company and having a Fair Market Value on the transfer date equal to the amount payable to the Company. The date of exercise shall be deemed to be the date the Company receives the written notice and payment
for the shares being purchased. An Outside Director shall have none of the rights of a stockholder with respect to shares covered by an Option until the Outside Director becomes the record holder of such shares. 
  

 7 

 (h) Exercise after Death, Retirement, Disability or Voluntary Termination of Service. If a
Director dies, retires, becomes totally and permanently disabled, or terminates service on the Board by reason of a voluntary decision by the Outside Director not to stand for reelection to the Board, without having exercised an Option in full, the
remaining portion of such Option may be exercised, without regard to the limitations in subsection 8(f), within the remaining period of the Option. Upon an Outside Director’s death, the Option may be exercised by the person or persons to whom
such Outside Director’s rights under the Option shall pass by will or the laws of descent and distribution or, if no such person has such rights, by his executor or administrator. 
  
 (i) Non-transferability. During the Outside Director’s lifetime, Options shall be exercisable only by such
Outside Director. Options shall not be transferable other than by will or the laws of descent and distribution upon the Outside Director’s death. Notwithstanding anything in this subsection 8(i) to the contrary, Outside Directors shall have the
right to transfer Options, to the extent allowed under Rule 16b-3 of the Exchange Act, subject to the same terms and conditions applicable to options granted to the Chief Executive Officer of the Company under Committee Rules. 
  
 (j) Purchase for Investment. It is contemplated that the Company will
register shares sold to Directors pursuant to the Plan under the Securities Act of 1933. In the absence of an effective registration, however, an Outside Director exercising an Option hereunder may be required to give a representation that he/she is
acquiring such shares as an investment and not with a view to distribution thereof. 
  
 (k) Options for Nonresident Aliens. In the case of any Option awarded to an Outside Director who is not a resident of the United States, the Board may (i) waive or alter the conditions set forth in
subsections 8(a) through 8(j) to the extent that such action is necessary to conform such Option to applicable foreign law, or (ii) take any action, either before or after the award of such Option, which it deems advisable to obtain approval of
such Option by an appropriate governmental entity; provided, however, that no action may be taken hereunder if such action would (1) increase any benefits accruing to any Outside Directors under the Plan, (2) increase the number of
securities which may be issued under the Plan, (3) modify the requirements for eligibility to participate in the Plan, or (4) result in a failure to comply with applicable provisions of the Securities Act of 1933, the Exchange Act or the
Code. 
  
 (l) Election to Receive Cash Rather than Stock.

  
 (i) At the same time as Options are granted
the Board may also grant to designated Outside Directors the right to convert a specified number of shares of Stock covered by such Options to cash, subject to the terms and conditions of this subsection 8(l). For each such Option so converted, the
Outside Director shall be entitled to receive cash equal to the difference between the Outside Director’s Option Price and the Fair Market Value of the Stock on the date of conversion. Such a right shall be referred to herein as a Stock
Appreciation Right (“SAR”). Outside 

  

 8 

 
Directors to whom an SAR has been granted shall be notified of such grant and of the Options to which such SAR pertains. An SAR may be revoked by the Board,
in its sole discretion, at any time, provided, however, that no such revocation may be taken hereunder if such action would result in the disallowance of a deduction to the Company under section 162(m) of the Code or any successor section.

  
 (ii) An Outside Director who has been granted
an SAR may exercise such SAR during such periods as provided for in the rules promulgated under section 16 of the Exchange Act. The SAR shall expire when the period of the subject Option expires. 
  
 (iii) At the time an Outside Director converts one or more
shares of Stock covered by an Option to cash pursuant to an SAR, such Outside Director must exercise one or more Options, which were granted at the same time as the Option subject to such SAR, for an equal number of shares of Stock. In the event
that the number of shares and the Option Price per share of all shares of Stock subject to outstanding Options is adjusted as provided in the Plan, the above SARs shall automatically be adjusted in the same ratio which reflects the adjustment to the
number of shares and the Option Price per share of all shares of Stock subject to outstanding Options. 
  
 (m) Deferral of Award Payment. The Board may establish one or more programs under the Plan to permit Outside Directors the opportunity to elect to
defer receipt of consideration upon exercise of an Award or other event that absent the election would entitle the Outside Director to payment or receipt of Stock or other consideration under an Award. The Board may establish the election
procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts of Stock so deferred, and such other terms, conditions, rules and procedures that the Board deems advisable for
the administration of any such deferral program. 
  

	9.	RESTRICTED SHARES 

  
 The Board may from time to time designate those Outside Directors who shall receive Restricted Share Awards. Each grant of Restricted Shares under the
Plan shall be evidenced by a notice from the Board to the Outside Director. The notice shall contain such terms and conditions, not inconsistent with the Plan, as shall be determined by the Board and shall indicate the number of Restricted Shares
awarded and the following terms and conditions of the award. 
  
 (a) Grant of Restricted Shares. The Board shall determine the number of Restricted Shares to be included in the grant and the period or periods during which the Transferability Restrictions applicable to the Restricted Shares will be
in force (the “Restricted Period”). The Restricted Period may be the same for all Restricted Shares granted at a particular time to any one Outside Director or may be different with respect to different Outside Directors or with respect to
various of the Restricted Shares granted to the same Outside Director, all as determined by the Board at the time of grant. 
  

 9 

 (b) Transferability Restrictions. During the Restricted Period, Restricted Shares may not be sold,
assigned, transferred or otherwise disposed of, or mortgaged, pledged or otherwise encumbered. Furthermore, an Outside Director’s right, if any, to receive Stock upon termination of the Restricted Period may not be assigned or transferred
except by will or by the laws of descent and distribution. In order to enforce the limitations imposed upon the Restricted Shares the Board may (i) cause a legend or legends to be placed on any such certificates, and/or (ii) issue
“stop transfer” instructions as it deems necessary or appropriate. Holders of Restricted Shares limited as to sale under this subsection 9(b) shall have rights as a shareholder with respect to such shares to receive dividends in cash or
other property or other distribution or rights in respect of such shares, and to vote such shares as the record owner thereof. With respect to each grant of Restricted Shares, the Board shall determine the Transferability Restrictions which will
apply to the Restricted Shares for all or part of the Restricted Period. By way of illustration but not by way of limitation, the Board may provide (i) that the Outside Director will not be entitled to receive any shares of Stock unless he or
she still serves as a Director of the Company at the end of the Restricted Period, (ii) that the Outside Director will become vested in Restricted Shares according to a schedule determined by the Board, or under other terms and conditions
determined by the Board, and (iii) how any Transferability Restrictions will be applied, modified or accelerated in the case of the Outside Director’s death or total and permanent disability. 
  
 (c) Manner of Holding and Delivering Restricted Shares. Each
certificate issued for Restricted Shares shall be registered in the name of the Outside Director and deposited with the Company or its designee. These certificates shall remain in the possession of the Company or its designee until the end of the
applicable Restricted Period or, if the Board has provided for earlier termination of the Transferability Restrictions following an Outside Director’s death, total and permanent disability or earlier vesting of the shares of Stock, such earlier
termination of the Transferability Restrictions. At whichever time is applicable, certificates representing the number of shares to which the Outside Director is then entitled shall be delivered to the Outside Director free and clear of the
Transferability Restrictions; provided that in the case of an Outside Director who is not entitled to receive the full number of Restricted Shares evidenced by the certificates then being released from escrow because of the application of the
Transferability Restrictions, those certificates shall be returned to the Company and canceled and a new certificate representing the shares of Stock, if any, to which the Outside Director is entitled pursuant to the Transferability Restrictions
shall be issued and delivered to the Outside Director, free and clear of the Transferability Restrictions. 
  

	10.	RESTRICTED SHARE UNITS 

  
 The Board shall from time to time designate those Outside Directors who shall receive Restricted Share Unit Awards. The Board shall advise such Outside
Directors of their Awards by a letter indicating the number of Restricted Share Units awarded and the following terms and conditions of the award. 
  
 (a) Restricted Share Units may be granted to Outside Directors as of the first day of a Restricted Period. The number of Restricted Share Units to
be granted to each Outside Director and the Restricted Period shall be determined by the Board in its sole discretion. 
  

 10 

 (b) Transferability Restrictions. During the Restricted Period, Restricted Share Units may not be
sold, assigned, transferred or otherwise disposed of, or mortgaged, pledged or otherwise encumbered. Furthermore, an Outside Director’s right, if any, to receive cash or Stock upon termination of the Restricted Period may not be assigned or
transferred except by will or by the laws of descent and distribution. With respect to each grant of Restricted Share Units, the Board shall determine the Transferability Restrictions which will apply to the Restricted Share Units for all or part of
the Restricted Period. By way of illustration but not by way of limitation, the Board may provide (i) that the Outside Director will forfeit any Restricted Share Units unless he or she still serves as a Director of the Company at the end of the
Restricted Period, (ii) that the Outside Director will become vested in Restricted Share Units according to a schedule determined by the Board or under other terms and conditions determined by the Board, and (iii) how any Transferability
Restrictions will be applied, modified or accelerated in the case of the Outside Director’s death or total and permanent disability. 
  
 (c) Dividends. During the Restricted Period, Outside Directors will be credited with dividends, equivalent in value to those declared and paid on
shares of Stock, on all Restricted Share Units granted to them. These dividends will be regarded as having been reinvested in Restricted Share Units on the date of the Stock dividend payments based on the then Fair Market Value of the Stock thereby
increasing the number of Restricted Share Units held by an Outside Director. Holders of Restricted Share Units under this subsection 10(c) shall have none of the rights of a shareholder with respect to such shares. Holders of Restricted Share Units
are not entitled to receive dividends in cash or other property, nor other distribution of rights in respect of such shares, nor to vote such shares as the record owner thereof. 
  
 (d) Payment of Restricted Share Units. The payment of Restricted Share Units shall be made in shares of Stock unless
the Board determines at the time of grant that payment will be made in cash or a combination of both cash and shares of Stock. The payment of Restricted Share Units shall be made within 90 days following the end of the Restricted Period unless the
Outside Director elects to defer payment under the Deferred Compensation Plan for Directors of the Company, or any successor plan, or as otherwise determined by the Board at the time of grant. 
  

	11.	NOTICES; DELIVERY OF STOCK CERTIFICATES 

  
 Any notice required or permitted to be given by the Company or the Board pursuant to the Plan shall be deemed given when personally delivered or deposited
in the United States mail, registered or certified, postage prepaid, addressed to the Outside Director at the last address shown for the Outside Director on the records of the Company. 
  

	12.	AMENDMENT AND TERMINATION 

  
 The Board may at any time amend, suspend, or discontinue the Plan or alter or amend any or all Awards under the Plan to the extent (i) permitted by
law, (ii) permitted by the rules of any stock exchange on which the Stock or any other security of the Company is listed, and (iii) permitted under applicable provisions of the Securities Act of 1933, as amended, the Exchange Act
(including Rule 16b-3 thereof); provided, however, 

  

 11 

 
that if any of the foregoing requires the approval by the stockholders of any such amendment, suspension or discontinuance, then the Board may take such
action subject to the approval of the stockholders. Except as provided in subsection 7(b), no such amendment, suspension or termination of the Plan shall, without the consent of the Director, adversely alter or change any of the rights or
obligations under any Award granted to the Director. The Board may in its sole and absolute discretion, by written notice to a Director, (i) limit the period in which an Award may be exercised to a period ending at least three months following
the date of such notice, and/or (ii) limit or eliminate the number of shares subject to Award after a period ending at least three months following the date of such notice. Except as provided in subsection 8(k) and this Section 12, no such
amendment, suspension, or termination of the Plan shall, without the consent of the Director, adversely alter or change any of the rights or obligations under any Options or other rights previously granted the Director under the Plan. 
  

	13.	TAXES 

  
 The Company shall require the withholding of all taxes as required by law. An Outside Director may elect to have any portion of the federal, state or
local income tax withholding required with respect to an Award satisfied by tendering Stock to the Company, which, in the absence of such an election, would have been issued to the Director in connection with the Award. 
  

	14.	GOVERNING LAW 

  
 The terms of the Plan shall be governed, construed, administered and regulated in accordance with the laws of the state of Delaware and applicable federal
law. In the event any provision of the Plan shall be determined to be illegal or invalid for any reason, the other provisions of the Plan shall continue in full force and effect as if such illegal or invalid provision had never been included herein.

  

	15.	DIRECTOR’S SERVICE 

  
 Nothing contained in the Plan, or with respect to any grant hereunder, shall interfere with or limit in any way the right of stockholders of the Company
to remove any Director from the Board, nor confer upon any Director any right to continue to serve on the Board as a Director. 
  

 12

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