Document:

EX-10.4(b)

 Exhibit 10.4(b) 

Execution Version 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of January 16, 2020 by and between Vincent Zanna
(“Executive”) and Chinos Holdings, Inc. (to be renamed Madewell Group, Inc. prior to the Effective Date as defined below) (the “Company”). 

WHEREAS, Executive currently serves as Chief Financial Officer and Treasurer of J. Crew Group, Inc. (“J. Crew”)
pursuant to the terms of a letter agreement between J. Crew and Executive dated as of March 23, 2018 and as amended as of the date hereof (the “J. Crew Agreement”); and 

WHEREAS, the parties hereto and J. Crew desire that, contingent upon the closing of the proposed initial public offering of the
Company’s common stock, as described in the Company’s Form S-1 originally filed with the Securities Exchange Commission on September 13, 2019 (the “Madewell IPO”), Executive
will cease employment with J. Crew under the J. Crew Agreement, and will become the Chief Financial Officer of the Company, on the terms set forth in this Agreement. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows: 
 1. Employment Term. Contingent upon the occurrence of the Madewell IPO and subject to the terms and
conditions of this Agreement, Executive shall be employed by the Company on an at-will basis for a period commencing on the closing date of the Madewell IPO (the “Effective Date”) and ending
on the date such employment is terminated pursuant to Section 7 of this Agreement. The period during which Executive is employed by the Company pursuant to this Agreement is hereinafter referred to as the
“Term.” 
 2. Position and Duties. Executive shall serve as the Chief Financial Officer of the Company, reporting to
the Chief Executive Officer of the Company, and shall have such duties, authorities and responsibilities as are consistent with such position under the Bylaws of the Company, and as the Board of Directors of the Company (the
“Board”) or the Chief Executive Officer may reasonably specify from time to time. Executive shall devote his full working time and attention and Executive’s best efforts to Executive’s employment and service with the
Company and shall perform Executive’s services in a capacity and in a manner consistent with Executive’s position for the Company. Notwithstanding the foregoing, Executive shall not be prohibited from managing Executive’s personal
investments (so long as such investments are of a passive nature), engaging in charitable or civic activities, or participating on boards of directors or similar bodies of non-profit organizations, provided
that such activities do not interfere with the performance of Executive’s duties and responsibilities hereunder, create a fiduciary conflict, or result in a violation of Section 11 of this Agreement. If requested,
Executive shall serve as a member of the Board and shall also serve as an executive officer and/or board member of the board of directors (or similar governing body) of any subsidiary of the Company without additional compensation. 

3. Base Salary. During the Term, the Company shall pay Executive a base salary at an annual rate of $600,000.00, payable in accordance
with the Company’s normal payroll practices for employees as in effect from time to time. Such base salary may be increased, but not decreased, during the Term, in the discretion of the Board. Executive’s annual base salary, as in effect
from time to time, is hereinafter referred to as the “Base Salary.”

 4. Incentive Compensation. 

(a) Annual Bonus. With respect to each fiscal year of the Company commencing during the Term, Executive shall be eligible to earn an
annual cash bonus award (the “Annual Bonus”), with a target amount equal to seventy five percent (75%) of the Base Salary (the “Target Bonus”), based upon the achievement of performance targets established by the
Board (or a committee thereof) in its discretion. The Annual Bonus shall be subject to the terms of any applicable annual bonus plan that may be adopted by the Company. The Annual Bonus, if any, shall be paid at the same time annual bonuses are paid
to other senior executives of the Company generally, and shall be subject to Executive being employed by the Company on the date such Annual Bonus is paid. For fiscal year 2020, Executive shall be eligible to earn an annual bonus for the full fiscal
year, to be paid by the Company, calculated on a pro rata basis for the periods before and after the Effective Date, based on the applicable base salary and target bonus percentage in effect for the periods before and after the Effective Date and
based on the achievement of performance goals for J. Crew for the period prior to the Effective Date, and on the achievement of performance goals for the Company for the period on and following the Effective Date. 

(b) Equity Incentive Grants. 

(i) Annual Grants. With respect to each fiscal year of the Company commencing during the Term, Executive shall be eligible to receive a
long-term incentive equity grant pursuant to an equity incentive plan of the Company (the “Equity Plan”) (each, an “Annual Grant”). The form, target grant date value, vesting and other terms and conditions of each
Annual Grant shall be determined by the Board (or a committee thereof) in its discretion, and shall be specified in award agreements issued under the Equity Plan. Notwithstanding the foregoing, with respect to fiscal year 2020, Executive’s
Annual Grant shall have a target grant date value of $600,000.00, with such value to be determined by the Board (or a committee thereof). 

(ii) IPO Grant. As of the Effective Date, Executive shall receive a one-time equity incentive
grant under the Equity Plan with a target grant date value of $250,000.00, as determined by the Board (or a committee thereof) in its discretion. Such grant will be comprised of 50% time-based vesting restricted stock units and 50% performance-based
vesting restricted stock units, and will be subject to other terms and conditions as determined by the Board (or a committee thereof) consistent with this Agreement and set forth in an award agreement evidencing such grant. 

(c) All incentive compensation paid or awarded to Executive shall be subject to repayment conditions under the Company’s clawback policy
applicable to executive officers, as may be in effect from time to time. 

  
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 5. Employee Benefits. During the Term, Executive shall be entitled to participate in
the employee benefit plans, including retirement, medical, disability and life insurance, provided by the Company to its senior executives generally and as in effect from time to time (collectively, “Benefit Plans”), to the extent
consistent with applicable law and the terms of the applicable Benefit Plan. The Company reserves the right to amend or cancel any Benefit Plan at any time in its sole discretion. Executive shall be entitled to paid time off benefits in accordance
with the Company’s policy, as may be in effect from time to time. 
 6. Expense Reimbursement. Executive shall be entitled to
reimbursement for all reasonable and necessary out-of-pocket business, entertainment and travel expenses incurred by Executive in connection with the performance of
Executive’s duties hereunder in accordance with the Company’s expense reimbursement policies and procedures. 
 7. Termination
of Employment. 
 (a) Termination Date. Executive’s employment hereunder shall terminate on the earliest to occur of
(i) the date of Executive’s death or Disability, (ii) the date upon which Executive’s employment is terminated by the Company for Cause, upon the date specified in a written notice to Executive, (iii) the date upon which
Executive’s employment is terminated by the Company without Cause, upon the date specified in a written notice to Executive, (iv) the date upon which Executive’s employment is terminated by Executive for Good Reason in
accordance with Section 8(d) hereof, or (v) the date upon which Executive’s employment is terminated by Executive without Good Reason, upon sixty (60) days prior written notice to the Company (which the
Company may, in its sole discretion, make effective earlier than the termination date provided in such notice). 
 (b) Termination without
Cause or for Good Reason. If Executive’s employment is terminated by the Company without Cause, or by Executive for Good Reason (a “Qualifying Termination”), subject to Section 7(e) of this
Agreement, Executive shall be entitled to: 
 (i) (A) within thirty (30) days following such termination, (i) payment of
Executive’s accrued and unpaid Base Salary and (ii) reimbursement of expenses under Section 6 of this Agreement, in each case of (i) and (ii), accrued through the date of termination and (B) all other
accrued amounts or accrued benefits due to Executive in accordance with the Company’s benefit plans, programs or policies (other than severance); and 

(ii) Severance payments and benefits equal to: 

(A) The sum of (i) one (1.0) times Base Salary and (ii) one (1.0) times Target Bonus, in each case, as in effect immediately prior
to Executive’s date of termination (ignoring for this purpose any reduction giving rise to Good Reason termination), payable in substantially equal installments in accordance with the Company’s regular payroll schedule during the twelve
(12) months following the date of termination (the “Severance Period”). Notwithstanding the foregoing, if such Qualifying Termination occurs ninety (90) days prior to, or eighteen (18) months following, the effective
date of a Change in Control (as defined in the Equity Plan), the severance amount payable under this Section 7(b)(ii)(A) shall be payable in a single lump sum on the next regularly scheduled payroll date following the
effectiveness of the Release, subject to the last sentence of Section 7(e). 

  
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 (B) The amount of any earned but unpaid Annual Bonus for any completed fiscal year prior to
termination of employment, paid at the same time as annual bonuses are paid to other senior executives of the Company generally. 
 (C) A
lump sum amount equal to the product of (x) the Annual Bonus, if any, that Executive would have earned based on the actual achievement of the applicable performance objectives in the fiscal year which includes Executive’s termination date
had Executive’s employment not been terminated and (y) a fraction, the numerator of which is the number of days in the fiscal year that includes Executive’s termination date through such termination date and the denominator of which
is 365, payable when bonuses are generally paid to employees of the Company (the “Pro-Rata Bonus”). 

(D) If Executive timely elects to continue group health insurance coverage for Executive and eligible dependents under the Consolidated
Omnibus Budget Reconciliation Act (“COBRA”), and to the extent permitted by applicable law, a cash payment equal to an amount that, after all applicable taxes are paid, is equal to the amount of the monthly COBRA premiums incurred
by Executive, payable monthly in accordance with the Company’s payroll practices during the Severance Period. 
 (c) Death or
Disability. If Executive’s employment is terminated as a result of the death or Disability of Executive, Executive or Executive’s legal representatives, as applicable, shall be entitled to receive the payments and benefits described
under Section 7(b)(i) of this Agreement, and shall also be entitled to receive the following: 
 (i) the amount of
any earned but unpaid Annual Bonus for any completed fiscal year prior to termination of employment, paid at the same time as annual bonuses are paid to other senior executives of the Company generally; and 

(ii) the Pro-Rata Bonus. 

(d) Other Terminations. If Executive’s employment is terminated by the Company for Cause or by Executive without Good Reason,
Executive shall be entitled to receive the payments and benefits described under Section 7(b)(i) of this Agreement, but shall not be entitled to any other severance payments or benefits from the Company, other than as may
be provided under any equity incentive grants pursuant to the Equity Plan. 
 (e) Conditions to Payment. All payments and benefits due
to Executive under this Section 7 which are not otherwise required by applicable law shall be payable only if Executive executes and delivers to the Company a general release of claims (which shall be substantially
consistent with the form attached as Exhibit A hereto) (the “Release”), and such Release is no longer subject to revocation, within sixty (60) days following termination of employment. Failure to timely execute and return such
Release or the revocation of such Release during the revocation period shall be a waiver by Executive of Executive’s right to severance (which, for the avoidance of doubt, shall not include any amounts described in
Section 7(b)(i) of this Agreement). In addition, severance shall be conditioned on Executive’s continued compliance with Section 11 of this Agreement as provided in
Section 13 below. Notwithstanding anything set forth herein to the contrary, no severance payments required under this Section 7(b) shall be made until Executive has executed and delivered the
Release to the 

  
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Company and any applicable revocation period has expired; provided, that if the Release delivery and non-revocation period spans two taxable years, the
severance payments shall be paid (or commence) on the later of (i) the first business day of such second taxable year or (ii) the eighth calendar day after Executive’s execution of the Release, with the first payment including any
amounts that would otherwise be due prior thereto. 
 (f) No Other Severance. Executive hereby acknowledges and agrees that, other
than the severance payments and benefits described in this Section 7, upon the effective date of the termination of Executive’s employment, Executive shall not be entitled to any other severance payments or benefits of
any kind under any Company benefit plan, severance policy generally available to the Company’s employees or otherwise (other than as may be provided under any equity incentive grants pursuant to the Equity Plan) and all other rights of
Executive to compensation under this Agreement shall end as of such date. 
 8. Definitions. For purposes of this Agreement, 

(a) “Affiliate” means any entity that directly, or indirectly through one or more intermediaries, controls, is controlled by,
or is under common control with, the Company. 
 (b) “Cause” shall mean, (i) Executive’s indictment for,
conviction of, or a plea of guilty or no contest to, any indictable felony offence or any criminal offence involving fraud, misappropriation or moral turpitude, (ii) Executive’s continued failure to perform Executive’s duties
hereunder or to follow the lawful direction of the Board or a material breach of fiduciary duty, (iii) Executive’s theft, or fraud, or willful dishonesty in a material respect, with regard to the Company or any of its Affiliates or in
connection with Executive’s duties, (iv) Executive’s material violation of the Company’s code of conduct or similar written policies including the Company’s sexual harassment policy, (v) Executive’s willful
misconduct unrelated to the Company or any of its Affiliates having, or likely to have, a material negative impact on the Company or any of its Affiliates (economically or its reputation), (vi) an act of gross negligence or willful misconduct by
Executive that relates to the affairs of the Company or any of its Affiliates, or (vii) a material breach by Executive of Section 11(a) of this Agreement or a breach by Executive of
Section 11(b) of this Agreement. For purposes of clauses (ii), (iv), (v), (vi) and (vii) of this provision, “Cause” shall not exist unless Executive has been given advance written notice of the event of Cause
and a thirty (30) day opportunity to cure such event, to the extent such event is curable. No act or omission on Executive’s part shall be considered “willful” unless it is done, or omitted to be done, by Executive in bad faith
or without reasonable belief that his action or omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board shall be conclusively presumed to be done,
or omitted to be done, by Executive in good faith and in the best interests of the Company. 
 (c) “Disability” shall mean a
physical or mental incapacity or disability which, despite any reasonable accommodation required by applicable law, has rendered, or is likely to render, Executive unable to perform Executive’s material duties for a period of either (i) 180
days in any twelve-month period or (ii) 90 consecutive days, as determined by a medical physician selected by the Company, and agreed to by Executive. 

  
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 (d) “Good Reason” shall mean without Executive’s express written
consent, (i) any action by the Company that results in a material and continuing diminution in Executive’s position, authority, duties or responsibilities as Chief Financial Officer of the Company, including without limitation an adverse
change in Executive’s title from Chief Financial Officer or a change such that the Executive no longer reports to the Chief Executive Officer, provided that for the avoidance of doubt, in connection with a Change in Control, a position as
“Chief Financial Officer” of a subsidiary or division of the Company or another entity, where Executive is not the top financial officer of the ultimate parent company, shall be deemed Good Reason, (ii) a reduction by the Company in
Executive’s Base Salary or Target Bonus opportunity, other than as provided in Section 3 of this Agreement, or (iii) a relocation of Executive’s principal place of employment to more than fifty
(50) miles from such principal place of employment as of the Effective Date, in each case without Executive’s written consent. For a termination to qualify as termination for Good Reason, Executive must deliver to the Board a written
notice specifically identifying in reasonable detail the conduct of the Company which Executive believes constitutes “Good Reason” in accordance with this section within sixty (60) days of Executive’s knowledge of the initial
occurrence of each specific event constituting Good Reason and provide the Board and/or the Company at least thirty (30) days to remedy such conduct after receipt of such written notice, and to the extent not cured, Executive must terminate
employment within thirty (30) days after such failure to cure. 
 9. Return of Company Property. Within ten (10) days
following the effective date of Executive’s termination for any reason, Executive or Executive’s personal representative shall return all property of the Company or any of its Affiliates in Executive’s possession, including, but not
limited to, all Company-owned computer equipment (hardware and software), telephones, facsimile machines, tablet computers and other communication devices, credit cards, office keys, security access cards, badges, identification cards and all copies
(including drafts) of any documentation or information (however stored) relating to the business of the Company or any of its Affiliates, the Company’s or any of its Affiliates’ customers and clients or their respective prospective
customers or clients. 
 10. Resignation as Officer or Director. Upon the effective date of Executive’s termination, Executive
shall be deemed to have resigned from Executive’s position as an officer of the Company, and to the extent applicable as a member of the board of directors or similar governing body of the Company or any subsidiary, and as a fiduciary of any
Company benefit plan and Executive shall relinquish any power of attorney, signing authority, trust authorization or Company account signatory authorization that Executive may hold on behalf of the Company or its Affiliates. In connection with such
termination, Executive shall sign all letters of resignation required by the Company to effectuate the foregoing. Executive’s execution of this Agreement shall be deemed the grant by Executive to the officers of the Company and the Company of a
limited power of attorney to sign in Executive’s name and on Executive’s behalf such documentation as may be necessary or appropriate for the limited purposes of effectuating the foregoing. 

  
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 11. Restrictive Covenants. 

(a) Confidential and Proprietary Information. Executive agrees that all materials and items produced or developed by Executive for the
Company or any of its Affiliates, or obtained by Executive from the Company or any of its Affiliates either directly or indirectly pursuant to this Agreement shall be and remains the property of the Company and its Affiliates. Executive acknowledges
that he will, during Executive’s association with the Company, acquire, or be exposed to, or have access to, materials, data and information that constitute valuable, confidential and proprietary information of the Company and its Affiliates,
including, without limitation, any or all of the following: this Agreement and its terms, information relating to systems, programs, methods, merchandising, distribution, business plans, practices and procedures, pricing information, sales figures,
profit or loss figures, customers, clients, intellectual property, suppliers, technology, sources of supply, customer lists, research, technical data, trade secrets or know-how, software, developments,
inventions, processes, inventory and financial control, formulas, drawings, designs, store designs, fit specifications, engineering, hardware configuration information, marketing, finances, policies, training manuals and similar materials used by
the Company in conducting its business operations, personnel information of any person employed by the Company, potential business combinations, and such other information or material as the Company may designate as confidential and/or proprietary
from time to time (collectively hereinafter, the “Confidential and Proprietary Information”). During Executive’s employment with the Company and at all times thereafter, Executive shall not, directly or indirectly, use, misuse,
misappropriate, disclose or make known, without the prior written approval of the Board, to any party, firm, corporation, association or other entity, any such Confidential and Proprietary Information for any reason or purpose whatsoever, except as
may be required in the course of Executive’s performance of Executive’s duties hereunder. In consideration of the unique nature of the Confidential and Proprietary Information, all obligations pertaining to the confidentiality and
nondisclosure thereof shall remain in effect until the Company and its Affiliates have released such information; provided, that the provisions of this Section 11(a) shall not apply to the disclosure of Confidential
and Proprietary Information to the Company’s Affiliates together with each of their respective shareholders, directors, officers, accountants, lawyers and other representatives or agents, nor to a Permitted Disclosure as defined in
Section 11(e) below. In addition, it shall not be a breach of the confidentiality obligations hereof if Executive is required by applicable law to disclose any Confidential and Proprietary Information; provided, that
in such case, Executive shall (x) give the Company the earliest notice possible that such disclosure is or may be required and (y) cooperate with the Company, at the Company’s expense, in protecting to the maximum extent legally
permitted, the confidential or proprietary nature of the Confidential and Proprietary Information which must be so disclosed. Upon termination of Executive’s employment, Executive agrees that all Confidential and Proprietary Information,
directly or indirectly, in Executive’s possession that is in writing or other tangible form (together with all duplicates thereof) will promptly (and in any event within 10 days following such termination) be returned to the Company and will
not be retained by Executive or furnished to any person, either by sample, facsimile film, audio or video cassette, electronic data, verbal communication or any other means of communication. For purposes of this Section 11,
the term “Company” means the Company and/or its Affiliates. 
 (b) Non-Competition; Non-Solicitation and Non-Hire. As additional consideration for the Company entering into this Agreement, Executive agrees (i) that for a period of twelve
(12) months following the date Executive’s employment is terminated, Executive shall not, directly or indirectly, engage in (either as owner, investor, partner, employer, employee, consultant or director) or otherwise perform service for
any Competitive Business (as defined below); provided that the foregoing restriction shall not prohibit Executive from owning a passive investment of not more than two percent (2%) of the total outstanding

  
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securities of any publicly-traded company and (ii) that for a period of eighteen (18) months following the date Executive’s employment is terminated, Executive shall not, directly
or indirectly (1) solicit or cause another to solicit any customers or suppliers of the Company to terminate or otherwise adversely modify their relationship with the Company, or (2) solicit, hire or seek to influence the employment
decisions of, any employee of the Company on behalf of any person or entity other than the Company. The term “Competitive Business” means the list of companies (including their affiliates and subsidiaries) attached hereto as Exhibit
B, as such list may be amended from time to time by mutual agreement of the parties. 
 (c) Assignment of Inventions. Executive will
make full written disclosure to the Company, and hold in trust for the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all Executive’s right, title, and interest in and to any and all inventions,
original works of authorship, developments, concepts, improvements or trade secrets, whether or not patentable or registrable under copyright or similar laws, which Executive may solely or jointly conceive or develop or reduce to practice, or cause
to be conceived or developed or reduced to practice, during the period of time Executive is engaged as an employee of the Company (collectively referred to as “Inventions”). This duty applies whether or not the forgoing Inventions
are made or prepared in the course of employment with the Company, so long as such Inventions relate to the business of the Company and have been developed in whole or in part during the term of Executive’s employment. These Inventions will be
the sole and exclusive property of the Company, and Executive will and hereby does assign all Executive’s right, title and interest in such Inventions to the Company. Executive further acknowledges that all original works of authorship which
are made by Executive (solely or jointly with others) within the scope of and during the period of Executive’s employment arrangement with the Company and which are protectable by copyright are “works made for hire,” as that term is
defined in the United States Copyright Act. Notwithstanding any provision of this Agreement, Executive shall not be required to assign, nor shall Executive be deemed to have assigned, any of Executive’s rights in any Invention that Executive
develops entirely on his own time without using the Company’s equipment, supplies, facilities, or trade secrets, except for Inventions that either: (1) relate, at the time that the Invention is conceived or reduced to practice, to the
business of the Company or to actual or demonstrably anticipated research or development of the Company; or (2) result from any work performed by Executive for the Company. 

(d) Tolling. In the event of any violation of the provisions of this Section 11, Executive acknowledges and
agrees that the post-termination restrictions contained in this Section 11 shall be extended by a period of time equal to the period of such violation, it being the intention of the parties hereto that the running of the
applicable post-termination restriction period shall be tolled during any period of such violation. 
 (e) Permitted Disclosure. This
Agreement does not limit or interfere with Executive’s right, without notice to or authorization of the Company, to communicate and cooperate in good faith with any self-regulatory organization or U.S. federal, state, or local governmental or
law enforcement branch, agency, commission, or entity (collectively, a “Government Entity”) for the purpose of (i) reporting a possible violation of any U.S. federal, state, or local law or regulation, (ii) participating
in any investigation or proceeding that may be conducted or managed by any Government Entity, including by providing documents or other information, or (iii) filing a charge or complaint with a Government Entity, provided that in each

  
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case, such communications, participation, and disclosures are consistent with applicable law. Additionally, Executive shall not be held criminally or civilly liable under any federal or state
trade secret law for the disclosure of a trade secret that is made (i) in confidence to a federal, state, or local government official, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law, or
(ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. If Executive files a lawsuit for retaliation by an employer for reporting a suspected violation of law, Executive may disclose the
trade secret to Executive’s attorney and use the trade secret information in the court proceeding if Executive files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order. All
disclosures permitted under this Section 11(e) are herein referred to as “Permitted Disclosures.” Notwithstanding the foregoing, under no circumstance will Executive be authorized to disclose any Confidential and
Proprietary Information as to which the Company may assert protections from disclosure under the attorney-client privilege or the attorney work product doctrine, without prior written consent of Company’s General Counsel or other authorized
officer designated by the Company. 
 12. Cooperation. From and after Executive’s termination of employment, Executive shall
provide Executive’s reasonable cooperation in connection with any action or proceeding (or any appeal from any action or proceeding) which relates to events occurring during Executive’s employment hereunder, provided, that the
Company shall reimburse Executive for Executive’s reasonable costs and expenses and such cooperation shall not unreasonably burden Executive or unreasonably interfere with any subsequent employment that Executive may undertake. 

13. Injunctive Relief and Specific Performance. Executive understands and agrees that Executive’s covenants under Sections 9, 11
and 12 are special and unique and that the Company and its Affiliates may suffer irreparable harm if Executive breaches any of Sections 9, 11, and/or 12 because monetary damages would be inadequate to compensate the Company and its
Affiliates for the breach of any of these sections. Accordingly, Executive acknowledges and agrees that the Company shall, in addition to any other remedies available to the Company at law or in equity, be entitled to obtain specific performance and
injunctive or other equitable relief by a federal or state court in New York to enforce the provisions of Sections 9, 11 and/or 12 without the necessity of posting a bond or proving actual damages, without liability should such relief be
denied, modified or vacated, and to obtain attorney’s fees in respect of the foregoing if the Company prevails in any such action or proceeding. Additionally, in the event of a breach or threatened breach by Executive of
Section 11, in addition to all other available legal and equitable rights and remedies, the Company shall have the right to cease making payments, if any, being made pursuant to Section 7(b)(ii)
hereunder. Executive also recognizes that the territorial, time and scope limitations set forth in Section 11 are reasonable and are properly required for the protection of the Company and its Affiliates and in the event
that any such territorial, time or scope limitation is deemed to be unreasonable by a court of competent jurisdiction, the Company and Executive agree, and Executive submits, to the reduction of any or all of said territorial, time or scope
limitations to such an area, period or scope as said court shall deem reasonable under the circumstances. 

  
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 14. Indemnification. Executive shall be covered under the indemnification provisions
of the Company’s Certificate of Incorporation or Bylaws in effect from time to time on terms and conditions no less favorable to Executive than those provided to senior executives of the Company generally. A directors’ and officers’
liability insurance policy (or policies) shall be kept in place, during the Term and thereafter until the sixth anniversary of the date of termination of Executive’s employment, providing coverage to Executive that is no less favorable to
Executive than the coverage then being provided to other senior executives of the Company generally. 
 15. Section 280G.
Notwithstanding anything to the contrary in this Agreement, if Executive is a “disqualified individual” (as defined in section 280G(c) of the Internal Revenue Code of 1986, as amended (the “Code”)), and the payments and
benefits provided for in this Agreement, together with any other payments and benefits which Executive has the right to receive from the Company or any of its Affiliates, would constitute a “parachute payment” (as defined in section
280G(b)(2) of the Code), then the payments and benefits provided for in this Agreement shall be either (a) reduced (but not below zero) so that the present value of such total amounts and benefits received by Executive from the Company and its
Affiliates will be one dollar ($1.00) less than three times Executive’s “base amount” (as defined in section 280G(b)(3) of the Code) and so that no portion of such amounts and benefits received by Executive shall be subject to the
excise tax imposed by section 4999 of the Code or (b) paid in full, whichever produces the better net after-tax position to Executive (taking into account any applicable excise tax under section 4999 of
the Code and any other applicable taxes). The reduction of payments and benefits hereunder, if applicable, shall be made by reducing, first, payments or benefits to be paid in cash hereunder in the order in which such payment or benefit would be
paid or provided (beginning with such payment or benefit that would be made last in time and continuing, to the extent necessary, through to such payment or benefit that would be made first in time) and, then, reducing any benefit to be provided in-kind hereunder in a similar order. The determination as to whether any such reduction in the amount of the payments and benefits provided hereunder is necessary shall be made by a third party accounting firm
selected by the Company. If a reduced payment or benefit is made or provided and through error or otherwise that payment or benefit, when aggregated with other payments and benefits from the Company (or its Affiliates) used in determining if a
“parachute payment” exists, exceeds one dollar ($1.00) less than three times Executive’s base amount, then Executive shall immediately repay such excess to the Company upon notification that an overpayment has been made. Nothing in
this Section 15 shall require the Company to be responsible for, or have any liability or obligation with respect to, Executive’s excise tax liabilities under section 4999 of the Code. 

16. Withholding. The Company shall have the right to withhold from any amount payable hereunder any Federal, state and local taxes in
order for the Company to satisfy any withholding tax obligation it may have under any applicable law or regulation. 
 17. Section
409A. 
 (a) The parties agree that this Agreement shall be interpreted to comply with or be exempt from Section 409A of the Code
(“Section 409A”), and all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. In no event whatsoever will the
Company, any of its Affiliates, or any of their respective directors, officers, agents, attorneys, employees, executives, shareholders, investors, members, managers, trustees, fiduciaries, representatives, principals, accountants, insurers,
successors or assigns be liable for any additional tax, interest or penalties that may be imposed on Executive under Section 409A or any damages for failing to comply with Section 409A. 

  
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 (b) A termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amounts or benefits considered “nonqualified deferred compensation” under Section 409A upon or following a termination of employment unless such termination is also a
“separation from service” within the meaning of Section 409A, and for purposes of any such provision of this Agreement, references to a “resignation,” “termination,” “terminate,” “termination of
employment” or like terms shall mean separation from service. If any payment, compensation or other benefit provided to Executive in connection with the termination of Executive’s employment is determined, in whole or in part, to
constitute “nonqualified deferred compensation” within the meaning of Section 409A and Executive is a specified employee as defined in Section 409A(2)(B)(i) of the Code, no part of such payments shall be paid before the day that
is six (6) months plus one (1) day after the date of termination or, if earlier, ten business days following Executive’s death (the “New Payment Date”). The aggregate of any payments that otherwise would have been
paid to Executive during the period between the date of termination and the New Payment Date shall be paid to Executive in a lump sum on such New Payment Date. Thereafter, any payments that remain outstanding as of the day immediately following the
New Payment Date shall be paid without delay over the time period originally scheduled, in accordance with the terms of this Agreement. 

(c) All reimbursements for costs and expenses under this Agreement shall be paid in no event later than the end of the calendar year following
the calendar year in which Executive incurs such expense. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by
Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (ii) the amount of expenses eligible for reimbursements
or in-kind, benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable
year. 
 (d) If under this Agreement an amount is paid in two or more installments, for purposes of Section 409A, each installment shall
be treated as a separate payment. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”), the
actual date of payment within the specified period shall be within the sole discretion of the Company. 
 18. Miscellaneous. 

(a) Notice. All notices hereunder, to be effective, shall be in writing and shall be deemed effective when delivered by hand or mailed
by (i) certified mail, postage and fees prepaid, or (ii) nationally recognized overnight express mail service, as follows: 
 If to
the Company: 
 Madewell Group, Inc. 

Address 
 City, State Zip 

  
 11 

 To: General Counsel, Madewell Group, Inc. 

If to Executive: 
 At
Executive’s home address as then shown in the Company’s personnel records, with a copy to: 
 Cohen & Buckmann pc 

200 Park Avenue – Suite 1700 

New York, NY 10166 
 Attn: Sandra
Cohen, Esq. 
 or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of
address shall be effective only upon receipt. 
 (b) Assignment. This Agreement is personal to Executive and shall not be assigned by
Executive. Any purported assignment by Executive shall be null and void from the initial date of the purported assignment. The Company may assign this Agreement to any successor or assign (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or assets of the Company. This Agreement shall inure to the benefit of the Company and its successors and assigns. 

(c) Entire Agreement. This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and
supersedes all other agreements, term sheets, offer letters, and drafts thereof, oral or written, between the parties hereto with respect to the subject matter hereof except as otherwise set forth herein. No promises, statements, understandings,
representations or warranties of any kind, whether oral or in writing, express or implied, have been made to Executive by any person or entity to induce Executive to enter into this Agreement other than the express terms set forth herein, and
Executive is not relying upon any promises, statements, understandings, representations, or warranties other than those expressly set forth in this Agreement. The parties hereto and J. Crew have agreed that, upon the Effective Date, the J. Crew
Agreement shall be of no further force or effect and the parties shall take all actions necessary prior to the Effective Date to effectuate the foregoing; provided, that if Executive’s 2019 annual bonus payable under the J. Crew Agreement has
not been paid as of the Effective Date, Executive shall remain eligible for such payment in accordance with the terms set forth in Section 3(b) of the J. Crew Agreement. Notwithstanding anything set forth herein to the contrary, the parties
hereto and J. Crew have agreed that any bonus agreement between the Executive and J. Crew in effect immediately prior to the Effective Date, including but not limited to the Executive’s 2019 Special Bonus Plan Award Agreement dated May 13,
2019, shall remain in full force and effect, and Executive shall remain eligible to receive payments after the Effective Date based on the terms and conditions set forth in the applicable bonus agreement. 

(d) Amendment. No change or modification of this Agreement shall be valid unless the same shall be in writing and signed by all of the
parties hereto. No waiver of any provisions of this Agreement shall be valid unless in writing and signed by the party charged with waiver. No waiver of any of the provisions of this Agreement shall be deemed, or shall constitute, a waiver of any
other provision, whether or not similar, nor shall any waiver constitute a continuing waiver, unless so provided in the waiver. 

  
 12 

 (e) Severability. If any provisions of this Agreement (or portions thereof) shall,
for any reason, be held invalid or unenforceable, such provisions (or portions thereof) shall be ineffective only to the extent of such invalidity or unenforceability, and the remaining provisions of this Agreement (or portions thereof) shall
nevertheless be valid, enforceable and of full force and effect. If any court of competent jurisdiction finds that any restriction contained in this Agreement is invalid or unenforceable, then the parties hereto agree that such invalid or
unenforceable restriction shall be deemed modified so that it shall be valid and enforceable to the greatest extent permissible under law, and if such restriction cannot be modified so as to make it enforceable or valid, such finding shall not
affect the enforceability or validity of any of the other restrictions contained herein. 
 (f) Counterparts. This Agreement may be
executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that any signature
is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of
the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof. 

(g) Headings. The section or paragraph headings or titles herein are for convenience of reference only and shall not be deemed a part of
this Agreement. 
 (h) Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of New
York, without giving effect to any choice of law or conflict of law provision or rule. AS A SPECIFICALLY BARGAINED INDUCEMENT FOR EACH OF THE PARTIES TO ENTER INTO THIS AGREEMENT (EACH PARTY HAVING HAD OPPORTUNITY TO CONSULT COUNSEL), EACH PARTY
EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT. 

(i) Representations. Executive hereby represents and warrants to the Company that (i) the execution, delivery and performance of
this Agreement by Executive do not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he is bound, (ii) Executive is not
a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity and (iii) upon the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and
binding obligation of Executive on and after the Effective Date, enforceable in accordance with its terms. Executive hereby acknowledges and represents that he has had the opportunity to consult with independent legal counsel or other advisor of
Executive’s choice and has done so regarding Executive’s rights and obligations under this Agreement, that he is entering into this Agreement knowingly, voluntarily, and of Executive’s own free will, that he is relying on
Executive’s own judgment in doing so, and that he fully understands the terms and conditions contained herein. 
 (j) Survival.
The covenants and obligations of the Company under Sections 7, 12, 13, 14, 15 and 18 hereof, and the covenants and obligations of Executive under Sections 7, 9, 10, 11, 12, 13 and 18 hereof, shall continue and survive any expiration of
the Term, termination of Executive’s employment or any termination of this Agreement. 
 [signature page follows] 

  
 13 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	CHINOS HOLDINGS, INC.
		
	By:	 	
                     
                                    

		 	By: Lynda Markoe
		 	Title: Chief Administrative Officer
	
	EXECUTIVE
	
	
                     

	Name: Vincent Zanna

 Exhibit A 

WAIVER AND RELEASE OF CLAIMS 

In consideration of, and subject to, the payments to be made to me by Madewell Group, Inc. (the “Company”) of the payments
set forth in Section 7(b) of my Employment Agreement dated January ___, 2020 with the Company (the “Employment Agreement”), I hereby waive any claims I may have for employment or re-employment in the future by the Company and/or any of its affiliates or subsidiaries after the date on which my employment with the Company terminated (the “Termination Date”), and I further
agree to and do release and forever discharge the Company, its subsidiaries and affiliates and their respective past and present officers, directors, shareholders, employees and agents (the “Releasees”) from any and all suits,
controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature
whatsoever in law and in equity, both past and present (through the date this Waiver and Release of Claims becomes effective and enforceable) and whether known or unknown, arising out of or relating to (i) my employment with any such Releasees,
and (ii) the termination thereof, including, but not limited to, wrongful discharge, breach of contract, tort, fraud, defamation and claims under the Civil Rights Acts, the Age Discrimination in Employment Act (the “ADEA”), the
Employee Retirement Income Security Act, the Americans with Disabilities Act, the Family Medical Leave Act, or any other federal, state or local legislation or common law relating to employment or discrimination in employment or otherwise (all of
the foregoing are collectively referred to herein as “Claims”). 
 The Release does not include (i) earned but unpaid salary
through the Termination Date; (ii) vested benefits under any employee benefit plans sponsored by the Company; (iii) the payment of the severance payments and benefits in the Employment Agreement; (iv) my right to receive an award from
a Government Agency under its whistleblower program for reporting in good faith a possible violation of law to such Government Agency; (v) coverage or indemnification under the Company’s insurance policies, applicable indemnification
agreements, certificates of incorporation, by-laws or a resolution of the Company’s board of directors; (vi) any recovery to which I may be entitled pursuant to workers’ compensation and
unemployment insurance laws; (vii) my rights as an equity holder of the Company; (viii) my right to challenge the validity of the Release under the ADEA; or (ix) any right where a waiver is expressly prohibited by law. For purposes of
this Waiver and Release of Claims, “Government Agency” means the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the U.S. Securities and Exchange Commission,
the Financial Industry Regulatory Authority, or any other self-regulatory organization or any other federal, state or local governmental agency or commission. 

By signing this Waiver and Release of Claims, I acknowledge and agree as follows: 

(1) I have carefully read the Employment Agreement and this Waiver and Release of Claims; 

(2) I have had the opportunity to consult with an attorney or other advisor of my choice about this matter, and have been advised by the
Company to do so if I choose; 

  
 2 

 (3) the Severance Payments are greater than any other payment or benefit to which I
otherwise would have been legally entitled as a result of the termination of my employment; 
 (4) I have signed this Waiver and Release of
Claims of my own free will and no promises or representations have been made to me by any person to induce me to do so other than the Offer Letter; 

(5) I have been given twenty-one (21) days to review and consider this Waiver and Release of
Claims; and 
 (6) I may revoke this Waiver and Release of Claims after signing it, by delivering a written revocation to the Company’s
General Counsel no later than seven (7) days after the date I sign it as shown below. 
  

	
	  

	Executive’s Signature
	
	  

	Print Name
	
	  

	Date Signed

  
 3 

 Exhibit B 

COMPETITIVE BUSINESSES 

Abercrombie and Fitch 
 Amazon 

American Eagle 
 Ascena 

Chico’s 
 Everlane 

Fast Retailing 
 Gap 

J. Jill 
 Land’s End 

Levi’s 
 Lululemon 

PVH 
 Ralph Lauren 

Steve Madden 
 Stitch Fix 

Talbots 
 Tapestry 

Tory Burch 
 Urban Outfitters 

Vince 
 Vineyard Vines 

  
 4EX-10.5

 Exhibit 10.5 

FORM OF 
 MADEWELL GROUP,
INC. 
 2020 EQUITY INCENTIVE PLAN 

1.    Purpose. 

The purpose of the Madewell Group, Inc. 2020 Equity Incentive Plan is to further align the interests of eligible participants with those of the
Company’s stockholders by providing incentive compensation opportunities tied to the performance of the Company and its Common Stock. The Plan is intended to advance the interests of the Company and increase stockholder value by attracting,
retaining and motivating key personnel upon whose judgment, initiative and effort the successful conduct of the Company’s business is largely dependent. 

2.    Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth below:

 “Affiliate” has the meaning under Rule 405 of the Securities Act. 

“Award” means an award of a Stock Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit, Cash
Incentive Award or Stock Award granted under the Plan. 
 “Award Agreement” means a notice or an agreement entered into
between the Company and a Participant setting forth the terms and conditions of an Award granted to a Participant as provided in Section 15.2 hereof. 

“Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 under
the Exchange Act. 
 “Board” means the Board of Directors of the Company. 

“Cash Incentive Award” means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof
and payable based on or conditioned upon the attainment of business and/or individual performance goals over a specified performance period. 

“Cause” shall have the meaning set forth in Section 13.2 hereof. 

“Change of Control” shall have the meaning set forth in Section 12.2 hereof. 

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

“Committee” means (i) the Compensation Committee of the Board, (ii) such other committee of the Board appointed by
the Board to administer the Plan or (iii) the Board, as determined by the Board. 
 “Common Stock” means the
Company’s common stock, par value $0.01 per share. 
 “Company” means Madewell Group, Inc., a Delaware corporation or
any successor thereto. 

 “Date of Grant” means the date on which an Award under the Plan is granted
by the Committee or such later date as the Committee may specify to be the effective date of an Award. 
 “Disability”
means, unless otherwise defined in an individual Award Agreement, the Participant has been unable to perform the essential duties, responsibilities and functions of Participant’s position with the Company and its subsidiaries by reason of any
medically determinable physical or mental impairment for 180 days in any one (1) year period and has qualified to receive long-term disability payments under the Company’s long-term disability policy, as may be in effect from time to time.
Notwithstanding the foregoing, in the event that a Participant is party to an employment, severance or similar agreement with the Company or any of its affiliates and such agreement contains a definition of “Disability,” the definition of
“Disability” set forth above shall be deemed replaced and superseded, with respect to such Participant, by the definition of “Disability” used in such employment, severance or similar agreement. Notwithstanding the foregoing, in
any case in which a benefit that constitutes or includes “nonqualified deferred compensation” subject to Section 409A would be payable by reason of Disability, the term “Disability” will mean a disability described in
Treasury Regulations Section 1.409A-3(i)(4)(i)(A). 
 “Effective Date”
shall have the meaning set forth in Section 16.1 hereof. 
 “Eligible Person” means (i) any person who is an
officer, employee, Non-Employee Director, or any natural person who is a consultant or other personal service provider of the Company or any of its Subsidiaries, and (ii) any individual employed by any
other Affiliate of the Company (which has been designated by the Committee to participate in the Plan) and who provides a service or benefit to the Company, as determined by the Committee. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder,
as the same may be amended from time to time. 
 “Fair Market Value” means, as applied to a specific date, the price of a
share of Common Stock that is based on the opening, closing, actual, high, low or average selling prices of a share of Common Stock reported on any established stock exchange or national market system including without limitation the New York Stock
Exchange and the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation System on the applicable date, the preceding trading day, the next succeeding trading day, or an average of trading days, as
determined by the Committee in its discretion. Unless the Committee determines otherwise or unless otherwise specified in an Award Agreement, Fair Market Value shall be deemed to be equal to the closing price of a share of Common Stock on the most
recent date on which shares of Common Stock were publicly traded. For purposes of determining the exercise price per share of a Stock Option and the base price of a Stock Appreciation Right, Fair Market Value means (i) the closing price as
reported on the New York Stock Exchange or other principal exchange on which the Common Stock is then listed on such date, or if the Common Stock was not traded on such date, then on the next preceding trading day that the Common Stock was traded on
such exchange, as reported by such responsible reporting service as the Committee may select or (ii) the initial public offering price of a share of Common Stock for grants of such Awards made in connection with the Company’s initial
public offering. Notwithstanding the 

  
 2 

 
foregoing, if the Common Stock is not traded on any established stock exchange or national market system, the Fair Market Value means the price of a share of Common Stock as established by the
Committee acting in good faith based on a reasonable valuation method that is consistent with the requirements of Section 409A of the Code and the regulations thereunder. 

“Incentive Stock Option” means a Stock Option granted under Section 6 hereof that is intended to meet the requirements
of Section 422 of the Code and the regulations thereunder. 
 “LGP” means Green Equity Investors V, L.P., Green Equity
Investors Side V, L.P., LGP Chino Coinvest LLC. 
 “Non-Employee Director”
means a member of the Board who is not an employee of the Company or any of its Subsidiaries. 
 “Nonqualified Stock
Option” means a Stock Option granted under Section 6 hereof that is not an Incentive Stock Option. 

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

“Plan” means the Madewell Group, Inc. 2020 Equity Incentive Plan as set forth herein, effective as of the Effective Date and
as may be amended from time to time, as provided herein, and includes any sub-plan or appendix that may be created and approved by the Board to allow Eligible Persons of Subsidiaries to participate in the
Plan. 
 “Restricted Stock Award” means a grant of shares of Common Stock to an Eligible Person under Section 8 hereof
that are issued subject to such vesting and transfer restrictions as the Committee shall determine, and such other conditions, as are set forth in the Plan and the applicable Award Agreement. 

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

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

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

  
 3 

 “Stock Awards” means a grant of shares of Common Stock to an Eligible
Person under Section 11 hereof. 
 “Stock Option” means a contractual right granted to an Eligible Person under
Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement. 

“Subsidiary” means an entity (whether or not a corporation) that is wholly or majority owned or controlled, directly
or indirectly, by the Company; provided, however, that with respect to Incentive Stock Options, the term “Subsidiary” shall include only an entity that qualifies under Section 424(f) of the Code as a “subsidiary
corporation” with respect to the Company. 
 “TPG” means TPG Chinos, L.P. and TPG Chinos Co-Invest, L.P.. 
 “Treasury Regulations” means regulations promulgated by the United
States Treasury Department. 
 3.    Administration. 

3.1    Committee Members. The Plan shall be administered by a Committee comprised of no fewer than two members of
the Board who are appointed by the Board to administer the Plan. To the extent deemed necessary by the Board, each Committee member shall satisfy the requirements for (i) an “independent director” under rules adopted by the New York
Stock Exchange or other principal exchange on which the Common Stock is then listed and (ii) a “nonemployee director” within the meaning of Rule 16b-3 under the Exchange Act. Notwithstanding the
foregoing, the mere fact that a Committee member shall fail to qualify under any of the foregoing requirements shall not invalidate any Award made by the Committee which Award is otherwise validly made under the Plan. Neither the Company nor any
member of the Committee shall be liable for any action or determination made in good faith by the Committee with respect to the Plan or any Award thereunder. 

3.2    Committee Authority. The Committee shall have all powers and discretion necessary or appropriate to
administer the Plan and to control its operation, including, but not limited to, the power to (i) determine the Eligible Persons to whom Awards shall be granted under the Plan, (ii) prescribe the restrictions, terms and conditions of all
Awards, (iii) interpret the Plan and terms of the Awards, (iv) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and interpret, amend or revoke any such rules, (v) make all
determinations with respect to a Participant’s Service and the termination of such Service for purposes of any Award, (vi) correct any defect(s) or omission(s) or reconcile any ambiguity(ies) or inconsistency(ies) in the Plan or any Award
thereunder, (vii) make all determinations it deems advisable for the administration of the Plan, (viii) decide all disputes arising in connection with the Plan and to otherwise supervise the administration of the Plan, (ix) subject to
the terms of the Plan, amend the terms of an Award in any manner that is not inconsistent with the Plan, (x) accelerate the vesting or, to the extent applicable, exercisability of any Award at any time (including, but not limited to, upon a
Change of Control or upon termination of Service under certain circumstances, as set forth in the Award Agreement or 

  
 4 

 
otherwise), and (xi) adopt such procedures, modifications or subplans as are necessary or appropriate to permit participation in the Plan by Eligible Persons who are foreign nationals or
employed outside of the United States. The Committee’s determinations under the Plan need not be uniform and may be made by the Committee selectively among Participants and Eligible Persons, whether or not such persons are similarly situated.
The Committee shall, in its discretion, consider such factors as it deems relevant in making its interpretations, determinations and actions under the Plan including, without limitation, the recommendations or advice of any officer or employee of
the Company or board of directors of a Subsidiary or such attorneys, consultants, accountants or other advisors as it may select. All interpretations, determinations, and actions by the Committee shall be final, conclusive, and binding upon all
parties. 
 3.3    Delegation of Authority. The Committee shall have the right, from time to time, to delegate in
writing to one or more officers of the Company the authority of the Committee to grant and determine the terms and conditions of Awards granted under the Plan, subject to the requirements of Section 157(c) of the Delaware General Corporation
Law (or any successor provision) or such other limitations as the Committee shall determine. In no event shall any such delegation of authority be permitted with respect to Awards granted to any member of the Board or to any Eligible Person who is
subject to Rule 16b-3 under the Exchange Act. The Committee shall also be permitted to delegate, to any appropriate officer or employee of the Company, responsibility for performing certain ministerial
functions under the Plan. In the event that the Committee’s authority is delegated to officers or employees in accordance with the foregoing, all provisions of the Plan relating to the Committee shall be interpreted in a manner consistent with
the foregoing by treating any such reference as a reference to such officer or employee for such purpose. Any action undertaken in accordance with the Committee’s delegation of authority hereunder shall have the same force and effect as if such
action was undertaken directly by the Committee and shall be deemed for all purposes of the Plan to have been taken by the Committee. 

4.    Shares Subject to the Plan. 

4.1    Number of Shares Reserved. Subject to adjustment as provided in Section 4.5 hereof, the total
number of shares of Common Stock that are reserved for issuance under the Plan (the “Share Reserve”) shall equal [            ] and the total number of shares of Common
Stock available for issuance as Incentive Stock Options shall be [            ]. Each share of Common Stock subject to an Award shall reduce the Share Reserve by one share; provided,
however, that Awards that are required to be paid in cash pursuant to their terms shall not reduce the Share Reserve. Any shares of Common Stock delivered under the Plan shall consist of authorized and unissued shares or treasury shares. 

4.2    Share Replenishment. To the extent that an Award granted under this Plan is canceled, expired, forfeited,
surrendered, settled by delivery of fewer shares of Common Stock than the number underlying the Award, as applicable, or otherwise terminated without delivery of the shares of Common Stock or payment of consideration to the Participant under the
Plan, the shares of Common Stock retained by or returned to the Company will (i) not be deemed to have been delivered under the Plan, as applicable, (ii) be available for future Awards under the Plan, and (iii) increase the Share
Reserve by one share for each share that is retained by or returned to the Company. Notwithstanding the foregoing, shares of Common Stock that are (a) withheld 

  
 5 

 
from an Award in payment of the exercise, base or purchase price or taxes relating to such an Award or (b) not issued or delivered as a result of the net settlement of an outstanding Stock
Option or Stock Appreciation Right under the Plan, as applicable, will be deemed to have been delivered under the Plan and will not be available for future Awards under the Plan. 

4.3    Awards Granted to Non-Employee Directors. No Non-Employee Director may be granted, during any calendar year, Awards having a fair value (determined on the date of grant) that, when added to all cash compensation paid to the
Non-Employee Director during the same calendar year, exceeds $600,000. 

4.4    Adjustments. If there shall occur any change with respect to the outstanding shares of Common Stock by
reason of any recapitalization, reclassification, stock dividend, extraordinary dividend, stock split, reverse stock split or other distribution with respect to the shares of Common Stock or any merger, reorganization, consolidation, combination, spin-off or other similar corporate change or any other change affecting the Common Stock (other than regular cash dividends to stockholders of the Company), the Committee shall, in the manner and to the extent it
considers appropriate and equitable to the Participants and consistent with the terms of the Plan, cause an adjustment to be made to (i) the maximum number and kind of shares of Common Stock provided in Section 4.1 hereof, (ii) the
number and kind of shares of Common Stock, units or other rights subject to then outstanding Awards, (iii) the exercise, base or purchase price for each share or unit or other right subject to then outstanding Awards, (iv) the maximum
amount that may become payable to a Participant under Cash Incentive Awards provided in Section 10.1 hereof, (v) other value determinations applicable to the Plan and/or outstanding Awards, and/or (v) any other terms of an Award that
are affected by the event. Notwithstanding the foregoing, (a) any such adjustments shall, to the extent necessary, be made in a manner consistent with the requirements of Section 409A of the Code and (b) in the case of Incentive Stock
Options, any such adjustments shall, to the extent practicable, be made in a manner consistent with the requirements of Section 424(a) of the Code, unless otherwise determined by the Committee. 

5.    Eligibility and Awards. 

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

  
 6 

 5.3    Award Agreements. Each Award granted to an Eligible Person
shall be represented by an Award Agreement. The terms of all Awards under the Plan, as determined by the Committee, will be set forth in each individual Award Agreements as described in Section 15.2 hereof. 

6.    Stock Options. 

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

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

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

6.5    Stock Option Exercise; Tax Withholding. Subject to such terms and conditions as specified in an Award
Agreement (including applicable vesting requirements), a Stock Option may be exercised in whole or in part at any time during the term thereof by notice in the form required by the Company, together with payment of the aggregate exercise price and
applicable 

  
 7 

 
withholding tax. Payment of the exercise price may be made: (i) in cash or by cash equivalent acceptable to the Committee, or, (ii) to the extent permitted by the Committee in its sole
discretion in an Award Agreement or otherwise (A) in shares of Common Stock valued at the Fair Market Value of such shares on the date of exercise, (B) through an open-market, broker-assisted sales transaction pursuant to which the Company
is promptly delivered the amount of proceeds necessary to satisfy the exercise price, (C) by reducing the number of shares of Common Stock otherwise deliverable upon the exercise of the Stock Option by the number of shares of Common Stock
having a Fair Market Value on the date of exercise equal to the exercise price, (D) by a combination of the methods described above or (E) by such other method as may be approved by the Committee and set forth in the Award Agreement. In
accordance with Section 15.11 hereof, and in addition to and at the time of payment of the exercise price, the Participant shall pay to the Company the full amount of any and all applicable income tax, employment tax and other amounts required
to be withheld in connection with such exercise, payable under such of the methods described above for the payment of the exercise price as may be approved by the Committee and set forth in the Award Agreement. 

6.6    Limited Transferability of Nonqualified Stock Options. All Stock Options shall be nontransferable except
(i) upon the Participant’s death, in accordance with Section 15.3 hereof or (ii) in the case of Nonqualified Stock Options only, for the transfer of all or part of the Stock Option to a Participant’s “family
member” (as defined for purposes of the Form S-8 registration statement under the Securities Act), or as otherwise permitted by the Committee, in each case as may be approved by the Committee in its
discretion at the time of proposed transfer. The transfer of a Nonqualified Stock Option may be subject to such terms and conditions as the Committee may in its discretion impose from time to time. Subsequent transfers of a Nonqualified Stock Option
shall be prohibited other than in accordance with Section 15.3 hereof. 
 6.7    Additional Rules for Incentive
Stock Options. 
 (a)    Eligibility. An Incentive Stock Option may only be granted to an Eligible Person who
is considered an employee for purposes of Treasury Regulation Section 1.421-1(h) with respect to the Company or any Subsidiary that qualifies as a “subsidiary corporation” with respect to the
Company for purposes of Section 424(f) of the Code. 
 (b)    Annual Limits. No Incentive Stock Option shall
be granted to a Participant as a result of which the aggregate Fair Market Value (determined as of the Date of Grant) of the Common Stock with respect to which incentive stock options under Section 422 of the Code are exercisable for the first
time in any calendar year under the Plan and any other stock option plans of the Company or any Subsidiary or parent corporation, would exceed $100,000, determined in accordance with Section 422(d) of the Code. This limitation shall be applied
by taking Stock Options into account in the order in which granted. Any Stock Option grant that exceeds such limit shall be treated as a Nonqualified Stock Option. 

(c)    Additional Limitations. In the case of any Incentive Stock Option granted to an Eligible Person who owns,
either directly or indirectly (taking into account the attribution rules contained in Section 424(d) of the Code), stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any
Subsidiary, the exercise price shall not be less than one hundred ten percent (110%) of the Fair Market Value of a share of Common Stock on the Date of Grant and the maximum term shall be five (5) years. 

  
 8 

 (d)    Termination of Service. An Award of an Incentive Stock
Option may provide that such Stock Option may be exercised not later than (i) three (3) months following termination of Service of the Participant with the Company and all Subsidiaries (other than as set forth in clause (ii) of this
Section 6.7(d)) or (ii) one year following termination of Service of the Participant with the Company and all Subsidiaries due to death or permanent and total disability within the meaning of Section 22(e)(3) of the Code, in each case
as and to the extent determined by the Committee to comply with the requirements of Section 422 of the Code. 

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

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

  
 9 

 6.10    No Rights as Stockholder. The Participant shall not have
any rights as a stockholder with respect to the shares underlying a Stock Option until such time as shares or Common Stock are delivered to the Participant pursuant to the terms of the Award Agreement. 

7.    Stock Appreciation Rights. 

7.1    Grant of Stock Appreciation Rights. Stock Appreciation Rights may be granted to any Eligible Person selected
by the Committee. Stock Appreciation Rights may be granted on a basis that allows for the exercise of the right by the Participant, or that provides for the automatic exercise or payment of the right upon a specified date or event. Stock
Appreciation Rights shall be non-transferable, except as provided in Section 15.3 hereof. All Stock Appreciation Rights granted under the Plan are intended to comply with or otherwise be exempt from the
requirements of Section 409A of the Code. 
 7.2    Stand-Alone and Tandem Stock Appreciation Rights. A
Stock Appreciation Right may be granted without any related Stock Option, or may be granted in tandem with a Stock Option, either on the Date of Grant or at any time thereafter during the term of the Stock Option. The Committee shall in its
discretion provide in an Award Agreement the time or times at which or the conditions upon which, a Stock Appreciation Right or portion thereof shall become vested and/or exercisable. The requirements for vesting and exercisability of a Stock
Appreciation Right may be based on the continued Service of a Participant with the Company or a Subsidiary for a specified time period (or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions as
approved by the Committee in its discretion. If the vesting requirements of a Stock Appreciation Right are not satisfied, the Award shall be forfeited. A Stock Appreciation Right will be exercisable or payable at such time or times as determined by
the Committee; provided, however, that the maximum term of a Stock Appreciation Right shall be ten (10) years from the Date of Grant. The Committee may provide that a Stock Appreciation Right will cease to be exercisable upon or
at the end of a period following a termination of Service for any reason. The base price of a Stock Appreciation Right granted without any related Stock Option shall be determined by the Committee in its discretion; provided, however,
that the base price per share of any such stand-alone Stock Appreciation Right shall not be less than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the Date of Grant. 

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

  
 10 

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

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

8.    Restricted Stock Awards. 

8.1    Grant of Restricted Stock Awards. A Restricted Stock Award may be granted to any Eligible Person selected by
the Committee. The Committee may require the payment by the Participant of a specified purchase price in connection with any Restricted Stock Award. 

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

8.3    Transfer Restrictions. Shares granted under any Restricted Stock Award may not be transferred, assigned or
subject to any encumbrance, pledge or charge until all applicable restrictions are removed or have expired, except as provided in Section 15.3 hereof. Failure to satisfy any applicable restrictions shall result in the subject shares of the
Restricted Stock Award being forfeited and returned to the Company. The Committee may require in an Award Agreement that certificates (if any) representing the shares granted under a Restricted Stock Award bear a legend making appropriate reference
to the restrictions imposed, and that certificates (if any) representing the shares granted or sold under a Restricted Stock Award will remain in the physical custody of an escrow holder until all restrictions are removed or have expired. 

8.4    Rights as Stockholder. Subject to the foregoing provisions of this Section 8 and the applicable Award
Agreement, the Participant shall have all rights of a stockholder with respect to the shares granted to the Participant under a Restricted Stock Award, including the right to vote the shares and receive all dividends and other distributions paid or
made with respect thereto, unless the Committee determines otherwise at the time the Restricted Stock Award is granted. The Committee shall determine and set forth in a Participant’s Award 

  
 11 

 
Agreement whether or not a Participant holding a Restricted Stock Award granted hereunder shall have the right to exercise voting rights with respect to the period during which the Restricted
Stock Award is subject to forfeiture (the “Restriction Period”), and have the right to receive dividends on the Restricted Stock Award during the Restriction Period (and, if so, on what terms) provided that if a Participant has the
right to receive dividends paid with respect to the Restricted Stock Award, such dividends shall be subject to the same vesting terms as the related Restricted Stock Award. 

8.5    Section 83(b) Election. If a Participant makes an election pursuant to Section 83(b)
of the Code with respect to a Restricted Stock Award, the Participant shall file, within thirty (30) days following the Date of Grant, a copy of such election with the Company and with the Internal Revenue Service, in accordance with the
regulations under Section 83 of the Code. The Committee may provide in an Award Agreement that the Restricted Stock Award is conditioned upon the Participant’s making or refraining from making an election with respect to the Award under
Section 83(b) of the Code. 
 9.    Restricted Stock Units. 

9.1    Grant of Restricted Stock Units. A Restricted Stock Unit may be granted to any Eligible Person selected by
the Committee. The value of each Restricted Stock Unit is equal to the Fair Market Value of a share of Common Stock on the applicable date or time period of determination, as specified by the Committee. Restricted Stock Units shall be subject to
such restrictions and conditions as the Committee shall determine. Restricted Stock Units shall be non-transferable, except as provided in Section 15.3 hereof. 

9.2    Vesting of Restricted Stock Units. The Committee shall, in its discretion, determine any vesting
requirements with respect to Restricted Stock Units, which shall be set forth in the Award Agreement. The requirements for vesting of a Restricted Stock Unit may be based on the continued Service of the Participant with the Company or a Subsidiary
for a specified time period (or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions as approved by the Committee in its discretion. If the vesting requirements of a Restricted Stock Unit Award are
not satisfied, the Award shall be forfeited. 
 9.3    Payment of Restricted Stock Units. Restricted Stock Units
shall become payable to a Participant at the time or times determined by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment of a Restricted Stock Unit may be made, as approved by the
Committee and set forth in the Award Agreement, in cash or in shares of Common Stock or in a combination thereof, subject to applicable tax withholding requirements. Any cash payment of a Restricted Stock Unit shall be made based upon the Fair
Market Value of a share of Common Stock, determined on such date or over such time period as determined by the Committee. 

9.4    Dividend Equivalent Rights. Dividends shall not be paid with respect to Restricted Stock Units. Dividend
equivalent rights may be granted with respect to the Shares subject to Restricted Stock Units to the extent permitted by the Committee and set forth in the applicable Award Agreement; provided that any dividend equivalent rights granted shall be
subject to the same vesting terms as the related Restricted Stock Units. 

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

10.    Cash Incentive Awards. 

10.1    Grant of Cash Incentive Awards. A Cash Incentive Award may be granted to any Eligible Person selected by the
Committee. A Cash Incentive Award may be evidenced by an Award Agreement specifying the performance period and such other terms and conditions as the Committee, in its discretion, shall determine. The Committee may accelerate the vesting of a Cash
Incentive Award upon a Change of Control or termination of Service under certain circumstances, as determined by the Committee. Cash Incentive Awards shall be non-transferable, except as provided in
Section 15.3 hereof. 
 10.2    Payment. Payment amounts may be based on the attainment of specified levels
of the performance goals, including, if applicable, specified threshold, target and maximum performance levels, and performance falling between such levels. The requirements for payment may be also based upon the continued Service of the Participant
with the Company or a Subsidiary during the respective performance period and on such other conditions as determined by the Committee. The Committee shall determine the attainment of the performance goals, the level of vesting or amount of payment
to the Participant pursuant to Cash Incentive Awards, if any. Notwithstanding the foregoing, Cash Incentive Awards may be paid, at the discretion of the Committee, in any combination of cash or shares of Common Stock, based upon the Fair Market
Value of such shares at the time of payment. 
 10.3    Adjustments. The Committee may provide for the
performance goals or the manner in which performance will be measured against the performance goals to be adjusted in such objective manner as it deems appropriate, including, without limitation, adjustments to reflect charges for restructurings, non-operating income, the impact of corporate transactions or discontinued operations, events that are unusual in nature or infrequent in occurrence and other non-recurring
items, currency fluctuations, litigation or claim judgements, settlements, and the cumulative effects of accounting or tax law changes. In addition, with respect to a Participant hired or promoted following the beginning of a performance period, the
Committee may determine to prorate the performance goals and/or the amount of any payment in respect of such Participant’s Cash Incentive Awards for the partial performance period. 

11.    Stock Awards. 

11.1    Grant of Stock Awards. A Stock Award may be granted to any Eligible Person selected by the Committee. A
Stock Award may be granted for past Services, in lieu of bonus or other cash compensation, as directors’ compensation or for any other valid purpose as determined by the Committee. The Committee shall determine the terms and conditions of such
Awards, and such Awards may be made without vesting requirements. In addition, the Committee may, in connection with any Stock Award, require the payment of a specified purchase price. 

  
 13 

 11.2    Rights as Stockholder. Subject to the foregoing
provisions of this Section 11 and the applicable Award Agreement, upon the issuance of shares of Common Stock under a Stock Award the Participant shall have all rights of a stockholder with respect to the shares of Common Stock, including the
right to vote the shares and receive all dividends and other distributions paid or made with respect thereto. 

12.    Change of Control. 

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

  
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 12.2    Definition of Change of Control. Unless
otherwise defined in an Award Agreement, “Change of Control” shall mean the occurrence of one or more of the following events: 

(a)    Any person, within the meaning of Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d)
thereof, including a “group” as defined in Section 13(d) thereof (“Person”), becomes the Beneficial Owner, directly or indirectly, of more than fifty percent (50%) of the combined voting power, excluding TPG and LGP
and each of their respective affiliates (each an “Excluded Person”) or any person that is the Beneficial Owner, directly or indirectly, of more than fifty percent (50%) of the combined voting power on the Effective Date, of the then
outstanding voting securities of the Company entitled to vote generally in the election of its directors (the “Outstanding Company Voting Securities”) including by way of merger, consolidation or otherwise; provided,
however, that for purposes of this definition, the following acquisitions shall not be taken into account in determining whether a Change of Control has occurred: (i) any acquisition of voting securities of the Company directly from the
Company or (ii) any acquisition by the Company or any of its Subsidiaries of Outstanding Company Voting Securities, including an acquisition by any employee benefit plan or related trust sponsored or maintained by the Company, or any of its
Subsidiaries. 
 (b)    The following individuals (the “Incumbent Directors”) cease for any reason to
constitute a majority of the number of directors then serving on the Board: individuals who, on the Effective Date, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual
or threatened election contest, including, but not limited to, a consent or proxy solicitation, relating to the election of directors of the Company by or on behalf of a Person other than the Board) whose appointment or election by the Board or
nomination for election by the Company’s stockholders was approved or recommended by a vote of at least a majority of the directors then still in office who either were directors on the Effective Date or whose appointment, election or
nomination for election was previously so approved or recommended. 
 (c)    Consummation of a reorganization, merger,
or consolidation to which the Company is a party or a sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), unless, following such Business Combination: (i) any
individuals and entities that were the Beneficial Owners of Outstanding Company Voting Securities immediately prior to such Business Combination are the Beneficial Owners, directly or indirectly, of more than fifty percent (50%) of the combined
voting power of the outstanding voting securities entitled to vote generally in the election of directors (or election of members of a comparable governing body) of the entity resulting from the Business Combination (including, without limitation,
an entity which as a result of such transaction owns all or substantially all of the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) (the “Successor Entity”) in
substantially the same proportions as their ownership immediately prior to such Business Combination; (ii) no Person (excluding any Successor Entity, any Excluded Person, any person that is the Beneficial Owner, directly or indirectly, of more
than thirty percent (30%) of the combined voting power on the Effective Date or any employee benefit plan or related trust of the Company, such Successor Entity, or any of their Subsidiaries) is the Beneficial Owner, directly or indirectly, of more
than thirty percent (30%) of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors (or comparable governing body) of the Successor Entity, except to the extent that such ownership
existed prior to the Business Combination; and (iii) at least a majority of the members of the board of directors (or comparable governing body) of the Successor Entity were Incumbent Directors (including persons deemed to be Incumbent
Directors) at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination. 

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

13.    Forfeiture Events. 

13.1    General. The Committee may specify in an Award Agreement at the time of the Award that the
Participant’s rights, payments and benefits with respect to an Award are subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or
performance conditions of an Award. Such events may include, without limitation, termination of Service for Cause, violation of material Company policies, breach of noncompetition, non-solicitation,
confidentiality or other restrictive covenants that may apply to the Participant or other conduct by the Participant that is detrimental to the business or reputation of the Company. 

13.2    Termination for Cause. 

(a)    Treatment of Awards. Unless otherwise provided by the Committee and set forth in an Award Agreement, if
(i) a Participant’s Service with the Company or any Subsidiary shall be terminated for Cause or (ii) after termination of Service for any other reason, the Committee determines in its discretion either that, (1) during the
Participant’s period of Service, the Participant engaged in an act which would have warranted termination of Service for Cause or (2) after termination, the Participant engaged in conduct that violated any continuing obligation or duty of
the Participant in respect of the Company or any Subsidiary, such Participant’s rights, payments and benefits with respect to an Award shall be subject to cancellation, forfeiture and/or recoupment, as provided in Section 13.3 below. The
Company shall have the power to determine whether the Participant has been terminated for Cause, the date upon which such termination for Cause occurs, whether the Participant engaged an act which would have warranted termination of Service for
Cause or engaged in conduct that violated any continuing obligation or duty of the Participant in respect of the Company or any Subsidiary. Any such determination shall be final, conclusive and binding upon all Persons. In addition, if the Company
shall reasonably determine that a Participant has committed or may have committed any act which could constitute the basis for a termination of such Participant’s Service for Cause or violates any continuing obligation or duty of the
Participant in respect of the Company or any Subsidiary, the Company may suspend the Participant’s rights to exercise any Stock Option or Stock Appreciation Right, receive any payment or vest in any right with respect to any Award pending a
determination by the Company of whether an act or omission could constitute the basis for a termination for Cause as provided in this Section 13.2. 

(b)    Definition of Cause. Unless otherwise defined in an Award Agreement, “Cause” shall mean:
(i) the Participant has committed a deliberate act against the interests of the Company including, without limitation: an act of fraud, embezzlement, misappropriation or breach of fiduciary duty against the Company, including, but not limited
to, the offer, payment, solicitation or acceptance of any unlawful bribe or kickback with respect to the Company’s 

  
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business; or (ii) the commission by a Participant of, or the plea of nolo contendere by such Participant with respect to, a felony or a crime involving moral turpitude; or (iii) the
Participant has failed to perform or neglected the material duties incident to his employment or other engagement with the Company on a regular basis, and such refusal or failure shall have continued for a period of twenty (20) days after
written notice to the Participant specifying such refusal or failure in reasonable detail; or (iv) the Participant has been chronically absent from work (excluding vacations, illnesses, Disability or leaves of absence approved by the Board); or
(v) the Participant has refused, after explicit written notice, to obey any lawful resolution of or direction by the Board which is consistent with the duties incident to his employment or other engagement with the Company and such refusal
continues for more than twenty (20) days after written notice is given to the Participant specifying such refusal in reasonable detail; or (vi) the Participant has breached any of the material terms contained in any employment agreement, non-competition agreement, confidentiality agreement, restrictive covenants agreement or similar type of agreement to which such Participant is a party; or (vii) the Participant’s misappropriation of the
Company’s or any of its Subsidiary’s assets or business opportunities; or (viii) the Participant has engaged in (x) the unlawful use (including being under the influence) or possession of illegal drugs on the Company’s
premises or (y) habitual drunkenness on the Company’s premises; or (ix) the Participant’s breach of any material Company policy, including the Company’s sexual harassment policy. 

Any voluntary termination of Service by the Participant in anticipation of an involuntary termination of the Participant’s Service for
Cause shall be deemed to be a termination for “Cause.” Notwithstanding the foregoing, in the event that a Participant is party to an employment, severance or similar agreement with the Company or any of its affiliates and such agreement
contains a definition of “Cause,” the definition of “Cause” set forth above shall be deemed replaced and superseded, with respect to such Participant, by the definition of “Cause” used in such employment, severance or
similar agreement. 
 13.3    Right of Recapture. 

(a)    General. If at any time within one (1) year (or such longer time specified in an Award Agreement or
other agreement with a Participant or policy applicable to the Participant) after the date on which a Participant exercises a Stock Option or Stock Appreciation Right or on which a Stock Award, Restricted Stock Award or Restricted Stock Unit vests
or becomes payable or on which a Cash Incentive Award is paid to a Participant, or on which income otherwise is realized by a Participant in connection with an Award, (i) a Participant’s Service is terminated for Cause, (ii) the
Committee determines in its discretion that the Participant is subject to any recoupment of benefits pursuant to the Company’s compensation recovery, “clawback” or similar policy, as may be in effect from time to time, or
(iii) after a Participant’s Service terminates for any other reason, the Committee determines in its discretion either that, (1) during the Participant’s period of Service, the Participant engaged in an act or omission which
would have warranted termination of the Participant’s Service for Cause or (2) after a Participant’s termination of Service, the Participant engaged in conduct that violated any continuing obligation or duty of the Participant in
respect of the Company or any Subsidiary, then, at the sole discretion of the Committee, any gain realized by the Participant from the exercise, vesting, payment or other realization of income by the Participant in connection with an Award, shall be
paid by the Participant to the Company upon notice from the Company, subject 

  
 17 

 
to applicable law. Such gain shall be determined as of the date or dates on which the gain is realized by the Participant, without regard to any subsequent change in the Fair Market Value of a
share of Common Stock. To the extent not otherwise prohibited by law, the Company shall have the right to offset such gain against any amounts otherwise owed to the Participant by the Company (whether as wages, vacation pay or pursuant to any
benefit plan or other compensatory arrangement). 
 (b)    Accounting Restatement. If a Participant receives
compensation pursuant to an Award under the Plan (whether a Stock Option, Cash Incentive Award or otherwise) based on financial statements that are subsequently required to be restated in a way that would decrease the value of such compensation, the
Participant will, to the extent not otherwise prohibited by law, upon the written request of the Company, forfeit and repay to the Company the difference between what the Participant received and what the Participant should have received based on
the accounting restatement, in accordance with (i) the Company’s compensation recovery, “clawback” or similar policy, as may be in effect from time to time and (ii) any compensation recovery, “clawback” or similar
policy made applicable by law including the provisions of Section 945 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules, regulations and requirements adopted thereunder by the Securities and Exchange Commission
and/or any national securities exchange on which the Company’s equity securities may be listed (the “Policy”). By accepting an Award hereunder, the Participant acknowledges and agrees that the Policy, whenever adopted, shall
apply to such Award, and all incentive-based compensation payable pursuant to such Award shall be subject to forfeiture and repayment pursuant to the terms of the Policy. 

14.    Transfer, Leave of Absence, Etc. For purposes of the Plan, except as otherwise determined by the Committee,
the following events shall not be deemed a termination of Service: (a) a transfer to the employment of the Company from a Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to another; or (b) an approved leave of
absence for military service or sickness, a leave of absence where the employee’s right to re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of
absence was granted, a leave of absence for any other purpose approved by the Company or if the Committee otherwise so provides in writing. 

15.    General Provisions. 

15.1    Status of Plan. The Committee may authorize the creation of trusts or other arrangements to meet the
Company’s obligations to deliver shares of Common Stock or make payments with respect to Awards. 

15.2    Award Agreement. An Award under the Plan shall be evidenced by an Award Agreement in a written or
electronic form approved by the Committee setting forth the number of shares of Common Stock or Restricted Stock Units subject to the Award, the exercise price, base price or purchase price of the Award, the time or times at which an Award will
become vested, exercisable or payable and the term of the Award. The Award Agreement also may set forth the effect on an Award of a Change of Control and/or a termination of Service under certain circumstances. The Award Agreement shall be subject
to and incorporate, by reference or otherwise, all of the applicable terms and conditions of the Plan, and also may set forth other 

  
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terms and conditions applicable to the Award as determined by the Committee consistent with the limitations of the Plan. The grant of an Award under the Plan shall not confer any rights upon the
Participant holding such Award other than such terms, and subject to such conditions, as are specified in the Plan as being applicable to such type of Award (or to all Awards) or as are expressly set forth in the Award Agreement. The Committee need
not require the execution of an Award Agreement by a Participant, in which case, acceptance of the Award by the Participant shall constitute agreement by the Participant to the terms, conditions, restrictions and limitations set forth in the Plan
and the Award Agreement as well as the administrative guidelines of the Company in effect from time to time. In the event of any conflict between the provisions of the Plan and any Award Agreement, the provisions of the Plan shall prevail. 

15.3    No Assignment or Transfer; Beneficiaries. Except as provided in Section 6.6 hereof or as otherwise
determined by the Committee, Awards under the Plan shall not be assignable or transferable by the Participant, and shall not be subject in any manner to assignment, alienation, pledge, encumbrance or charge. Notwithstanding the foregoing, in the
event of the death of a Participant, except as otherwise provided by the Committee in an Award Agreement, an outstanding Award may be exercised by or shall become payable to the Participant’s beneficiary as determined under the Company 401(k)
retirement plan or other applicable retirement or pension plan (the “Retirement Plan”). In lieu of such determination, a Participant may, from time to time, name any beneficiary or beneficiaries to receive any benefit in case of the
Participant’s death before the Participant receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant and will be effective only when filed by the Participant in writing (in such form
or manner as may be prescribed by the Committee) with the Company during the Participant’s lifetime. In the absence of a valid designation under the Retirement Plan or as provided above, if no validly designated beneficiary survives the
Participant or if each surviving validly designated beneficiary is legally impaired or prohibited from receiving the benefits under an Award, the Participant’s beneficiary shall be the legatee or legatees of such Award designated under the
Participant’s last will or by such Participant’s executors, personal representatives or distributees of such Award in accordance with the Participant’s will or the laws of descent and distribution. The Committee may provide in the
terms of an Award Agreement or in any other manner prescribed by the Committee that the Participant shall have the right to designate a beneficiary or beneficiaries who shall be entitled to any rights, payments or other benefits specified under an
Award following the Participant’s death. 
 15.4    Deferrals of Payment. The Committee may in its
discretion permit a Participant to defer the receipt of payment of cash or delivery of shares of Common Stock that would otherwise be due to the Participant by virtue of the exercise of a right or the satisfaction of vesting or other conditions with
respect to an Award; provided, however, that such discretion shall not apply in the case of a Stock Option or Stock Appreciation Right that is intended to satisfy the requirements of Treasury Regulations
Section 1.409A-1(b)(5)(i)(A) or (B). If any such deferral is to be permitted by the Committee, the Committee shall establish rules and procedures relating to such deferral in a manner intended to comply
with the requirements of Section 409A of the Code, including, without limitation, the time when an election to defer may be made, the time period of the deferral and the events that would result in payment of the deferred amount, the interest
or other earnings attributable to the deferral and the method of funding, if any, attributable to the deferred amount. 

  
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 15.5    No Right to Employment or Continued Service. Nothing in
the Plan, in the grant of any Award or in any Award Agreement shall confer upon any Eligible Person or any Participant any right to continue in the Service of the Company or any of its Subsidiaries or interfere in any way with the right of the
Company or any of its Subsidiaries to terminate the employment or other service relationship of an Eligible Person or a Participant for any reason or no reason at any time. 

15.6    Rights as Stockholder. A Participant shall have no rights as a holder of shares of Common Stock with
respect to any unissued securities covered by an Award until the date the Participant becomes the holder of record of such securities. Except as provided in Section 4.5 hereof, no adjustment or other provision shall be made for dividends or
other stockholder rights, except to the extent that the Award Agreement provides for dividend payments or dividend equivalent rights. The Committee may determine in its discretion the manner of delivery of Common Stock to be issued under the Plan,
which may be by delivery of stock certificates, electronic account entry into new or existing accounts or any other means as the Committee, in its discretion, deems appropriate. The Committee may require that the stock certificates (if any) be held
in escrow by the Company for any shares of Common Stock or cause the shares to be legended in order to comply with the securities laws or other applicable restrictions or should the shares of Common Stock be represented by book or electronic account
entry rather than a certificate, the Committee may take such steps to restrict transfer of the shares of Common Stock as the Committee considers necessary or advisable. 

15.7    Trading Policy and Other Restrictions. Transactions involving Awards under the Plan shall be subject to the
Company’s Insider Trading and Regulation FD Policy and other restrictions, terms and conditions, to the extent established by the Committee or by applicable law, including any other applicable policies set by the Committee, from time to time.

 15.8    Section 409A Compliance. To the extent applicable, it is intended that the Plan and
all Awards hereunder comply with, or be exempt from, the requirements of Section 409A of the Code and the Treasury Regulations and other guidance issued thereunder, and that the Plan and all Award Agreements shall be interpreted and applied by
the Committee in a manner consistent with this intent in order to avoid the imposition of any additional tax under Section 409A of the Code. In the event that any (i) provision of the Plan or an Award Agreement, (ii) Award, payment,
transaction or (iii) other action or arrangement contemplated by the provisions of the Plan is determined by the Committee to not comply with the applicable requirements of Section 409A of the Code and the Treasury Regulations and other
guidance issued thereunder, the Committee shall have the authority to take such actions and to make such changes to the Plan or an Award Agreement as the Committee deems necessary to comply with such requirements; provided, however,
that no such action shall adversely affect any outstanding Award without the consent of the affected Participant. No payment that constitutes deferred compensation under Section 409A of the Code that would otherwise be made under the Plan or an
Award Agreement upon a termination of Service will be made or provided unless and until such termination is also a “separation from service,” as determined in accordance with Section 409A of the Code. Notwithstanding the foregoing or
anything elsewhere in the Plan or an Award Agreement to the contrary, if a Participant is a “specified employee” as defined in Section 409A of the Code at the time of termination of Service with respect to an Award, then solely to the
extent necessary to avoid the imposition of any additional tax under Section 409A 

  
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of the Code, the commencement of any payments or benefits under the Award shall be deferred until the date that is six (6) months plus one (1) day following the date of the
Participant’s termination of Service or, if earlier, the Participant’s death (or such other period as required to comply with Section 409A). In no event whatsoever shall the Company be liable for any additional tax, interest or
penalties that may be imposed on a Participant by Section 409A of the Code or any damages for failing to comply with Section 409A of the Code. 

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

15.10    Substitute Awards in Corporate Transactions. Nothing contained in the Plan shall be construed to limit the
right of the Committee to grant Awards under the Plan in connection with the acquisition, whether by purchase, merger, consolidation or other corporate transaction, of the business or assets of any corporation or other entity. Without limiting the
foregoing, the Committee may grant Awards under the Plan to an employee or director of another corporation who becomes an Eligible Person by reason of any such corporate transaction in substitution for awards previously granted by such corporation
or entity to such person. The terms and conditions of the substitute Awards may vary from the terms and conditions that would otherwise be required by the Plan solely to the extent the Committee deems necessary for such purpose. Any such substitute
awards shall not reduce the Share Reserve; provided, however, that such treatment is permitted by applicable law and the listing requirements of the New York Stock Exchange or other exchange or securities market on which the Common
Stock is listed. 
 15.11    Tax Withholding. The Participant shall be responsible for payment of any taxes or
similar charges required by law to be paid or withheld from an Award or an amount paid in satisfaction of an Award. Any required withholdings shall be paid by the Participant on or prior to the payment or other event that results in taxable income
in respect of an Award. The Award Agreement may specify the manner in which the withholding obligation shall be satisfied with respect to the particular type of Award, which may include permitting the Participant to elect to satisfy the withholding
obligation by tendering shares of Common Stock to the Company or having the Company withhold a number of shares of Common Stock having a value equal to the minimum statutory tax or as otherwise specified in an Award Agreement, or similar charge
required to be paid or withheld. The Company shall have the power and the right to require a Participant to remit to the Company the amount necessary to satisfy federal, state, provincial and local taxes, domestic or foreign, required by law or
regulation to be withheld, and to deduct or 

  
 21 

 
withhold from any shares of Common Stock deliverable under an Award to satisfy such withholding obligation. The Award Agreement may specify the manner in which the withholding obligation shall be
satisfied with respect to the particular type of Award. The Award Agreement may specify the amount necessary to satisfy the a Participant’s tax liability up to the maximum expected tax liability, provided that such withholding does not result
in adverse tax or accounting consequences to the Company. The Award Agreement may specify that the Participant has the right to elect to satisfy the tax withholding obligation by tendering shares of Common Stock to the Company or having the Company
withhold a number of shares of Common Stock having a value equal to the withholding obligation specified in an Award Agreement. 

15.12    Unfunded Plan. The adoption of the Plan and any reservation of shares of Common Stock or cash amounts by
the Company to discharge its obligations hereunder shall not be deemed to create a trust or other funded arrangement. Except upon the issuance of shares of Common Stock pursuant to an Award, any rights of a Participant under the Plan shall be those
of a general unsecured creditor of the Company, and neither a Participant nor the Participant’s permitted transferees or estate shall have any other interest in any assets of the Company by virtue of the Plan. Notwithstanding the foregoing, the
Company shall have the right to implement or set aside funds in a grantor trust, subject to the claims of the Company’s creditors or otherwise, to discharge its obligations under the Plan. 

15.13    Other Compensation and Benefit Plans. The adoption of the Plan shall not affect any other share incentive
or other compensation plans in effect for the Company or any Subsidiary, nor shall the Plan preclude the Company from establishing any other forms of share incentive or other compensation or benefit program for employees of the Company or any
Subsidiary. The amount of any compensation deemed to be received by a Participant pursuant to an Award shall not constitute includable compensation for purposes of determining the amount of benefits to which a Participant is entitled under any other
compensation or benefit plan or program of the Company or a Subsidiary, including, without limitation, under any pension or severance benefits plan, except to the extent specifically provided by the terms of any such plan. 

15.14    Plan Binding on Transferees. The Plan shall be binding upon the Company, its transferees and assigns, and
the Participant, the Participant’s executor, administrator and permitted transferees and beneficiaries. 

15.15    Severability. If any provision of the Plan or any Award Agreement shall be determined to be illegal or
unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in any other jurisdiction. 

15.16    Governing Law; Jurisdiction. The Plan and all rights hereunder shall be governed by and interpreted in
accordance with the laws of the State of Delaware, without reference to the principles of conflicts of laws, and to applicable federal laws. 

15.17    No Fractional Shares. No fractional shares of Common Stock shall be issued or delivered pursuant to the
Plan or any Award, and the Committee shall determine whether cash, other securities or other property shall be paid or transferred in lieu of any fractional shares of Common Stock or whether such fractional shares or any rights thereto shall be
canceled, terminated or otherwise eliminated. 

  
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 15.18    No Guarantees Regarding Tax Treatment. Neither the
Company nor the Committee make any guarantees to any person regarding the tax treatment of Awards or payments made under the Plan. Neither the Company nor the Committee has any obligation to take any action to prevent the assessment of any tax on
any person with respect to any Award under Section 409A of the Code, Section 4999 of the Code or otherwise and neither the Company nor the Committee shall have any liability to a person with respect thereto. 

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

15.20    Awards to Non-U.S. Participants. To comply with the laws in
countries other than the United States in which the Company or any of its Subsidiaries or affiliates operates or has employees, Non-Employee Directors or consultants, the Committee, in its sole discretion,
shall have the power and authority to (i) modify the terms and conditions of any Award granted to Participants outside the United States to comply with applicable foreign laws, (ii) take any action, before or after an Award is made, that
it deems advisable to obtain approval or comply with any necessary local government regulatory exemptions or approvals and (iii) establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be
necessary or advisable. Any subplans and modifications to Plan terms and procedures established under this Section 15.20 by the Committee shall be attached to this Plan document as appendices. 

16.    Term; Amendment and Termination; Stockholder Approval. 

16.1    Term. The Plan shall be effective as of the date of its approval by the stockholders of the Company (the
“Effective Date”). Subject to Section 16.2 hereof, the Plan shall terminate on the tenth anniversary of the Effective Date. 

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

  
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