Document:

Revised Form of Employment Agreement with Richard A. Smith

 Exhibit 10.4 
 FORM OF EMPLOYMENT AGREEMENT 
  
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (“Agreement”) is dated as of the Effective Date (as hereinafter
defined), by and between Realogy Corporation, a Delaware corporation (the “Company”) and Richard A. Smith (the “Executive”). 
 WHEREAS, Cendant Corporation, a Delaware corporation (“Cendant”), and the Executive are parties to an Amended and Restated Employment Agreement dated as of June 30, 2004 (the “Prior Agreement”). 
 WHEREAS, Cendant has determined to distribute the Company directly to its stockholders pursuant to a spin-off transaction (the “Proposed
Transaction”). 
 WHEREAS, the Company desires to employ the Executive, and the Executive desires to serve the Company, in accordance
with the terms and conditions of this Agreement; 
 NOW THEREFORE, in consideration of the foregoing and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 SECTION I 
 EFFECTIVENESS 
 Subject to and upon the
consummation of the Proposed Transaction (the “Effective Date”) (i) the Prior Agreement shall terminate and be of no further force or effect and (ii) this Agreement shall become effective. 
 SECTION II 
 EMPLOYMENT; POSITION AND
RESPONSIBILITIES 
 The Company agrees to employ the Executive, and the Executive agrees to be employed by the Company, for the Period
of Employment as provided in Section III below and upon the terms and conditions provided in this Agreement. The Executive shall serve as President of the Company from the Effective Time through December 31, 2007 (the “Initial
Period”), and shall thereafter serve as Chief Executive Officer of the Company through the remainder of the Period of Employment (the “Remaining Period”). During the Initial Period, the Executive shall report to, and be subject to the
direction of, the Chief Executive Officer of 

  

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the Company (the “CEO”), and during the Remaining Period shall report to, and be subject to the direction of, the Board of Directors of the Company
(the “Board”). The Executive shall perform such duties and exercise such supervision with regard to the business of the Company as are associated with his respective positions, as well as such additional duties as may be prescribed from
time to time by the Board. The Executive shall, during the Period of Employment, devote substantially all of his time and attention during normal business hours to the performance of services for the Company. The Executive shall maintain a primary
office and conduct his business in Parsippany, New Jersey (the “Business Office”), except for normal and reasonable business travel in connection with his duties hereunder. 
 In addition, effective upon the Effective Date, the Executive shall serve as Vice Chairman, and a member, of the Board; provided, that the
Executive’s continued service as a member of the Board shall at all times remain subject to any and all nomination and election procedures in accordance with the Company’s by-laws. Following the Effective Date, any failure by the
shareholders of the Company to re-elect the Executive to membership on the Board shall not constitute a breach by the Company of this Agreement. 
 The Company agrees to provide the Executive with periodic updates regarding Company plans for his succession to the Chief Executive Officer position, and will use reasonable efforts, subject to corporate governance procedures, to notify the
Executive of any changes in succession plans by no later than June 30, 2007. 
 SECTION III 
 PERIOD OF EMPLOYMENT 
 The period of
the Executive’s employment under this Agreement (the “Period of Employment”) shall begin on the Effective Date and shall end on the third anniversary of the Effective Date (the “Term”), subject to earlier termination as
provided in this Agreement. Effective upon the expiration of the Term, Executive’s employment hereunder shall be deemed to be automatically extended, upon the same terms and conditions, for an additional period of one year (the
“Additional Term”) commencing upon the expiration of the Term unless either party shall have given written notice to the other, at least six (6) months prior to the expiration of the Term of its intention not to extend the
Period of Employment Period hereunder; provided that any such notice of non-extension delivered by the Company to Executive shall be deemed to constitute a Constructive Discharge (as defined below) of the Executive. As of the Effective Date,
Executive shall cease to be employed by Cendant. 
  

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 SECTION IV 
 COMPENSATION AND BENEFITS 
 For all services rendered by the Executive pursuant to this Agreement
during the Period of Employment, including services as an executive officer, director or committee member of the Company or any subsidiary or affiliate of the Company, the Executive shall be compensated as follows: 
 (a) Base Salary 
 The Company shall
initially pay the Executive a fixed base salary (“Base Salary”) of not less than $1,000,000, per annum, and thereafter the Executive shall be eligible to receive annual increases as the Board deems appropriate, in accordance with the
Company’s customary procedures regarding salaries of senior officers. Base Salary shall be payable according to the customary payroll practices of the Company, but in no event less frequently than once each month. 
 (b) Annual Incentive Awards 
 The
Executive shall be eligible to earn a Target Annual Bonus for each fiscal year of the Company ending during the Employment Period (each, an “Annual Bonus”) equal to 200% of the Executive’s Base Salary for such fiscal year, if the
Company achieves the target performance goals established by the Incentive Compensation Committee (the “Committee”) for such fiscal year The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of
the Target Annual Bonus or an Annual Bonus less than the Target Annual Bonus. 
 Any Annual Bonus that becomes payable to the Executive
pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and
a half (2 1/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The
Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s executive management team; provided that any
such election is made by the Executive in compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder. 
  

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 (c) Long-Term Incentive Awards 
 Upon the Effective Date, the Company shall grant the Executive a long-term incentive equity award with a grant date value equal to $5 million (the
“Initial Realogy Grant”). The Initial Realogy Grant shall be subject to the terms and conditions of the Company’s 2006 Equity and Incentive Plan and the applicable agreement evidencing such award, including such vesting provisions as
determined by the Committee (subject to accelerated vesting in accordance with Section VIII below). Thereafter, the Executive shall be eligible for long term incentive awards as determined by the Committee in its discretion. 
 (d) Additional Benefits 
 The
Executive shall be entitled to participate in all other compensation and employee benefit plans or programs and receive all benefits and perquisites for which salaried employees of the Company generally are eligible under any plan or program now in
effect, or later established by the Company, on the same basis as similarly situated senior executives of the Company with comparable duties and responsibilities. The Executive shall participate to the extent permissible under the terms and
provisions of such plans or programs, and in accordance with the terms of such plans and program. 
 (e) Further Consideration

 The Company acknowledges and agrees to provide the Executive the following benefits notwithstanding anything herein to the contrary. Upon
the Executive’s termination of employment from the Company and its subsidiaries for any reason, including, without limitation, due to or following any non-renewal of this Agreement, Resignation, or termination by the Company with or without
Cause, the Executive and each person who is his covered dependent at such time under each applicable plan sponsored by the Company, shall remain eligible to continue to participate in all of such plans (as they may be modified from time to time with
respect to all senior executive officers), or such other plans subsequently made available to senior executive officers of the Company or any successor Company (the “Post-Employment Plans”) until the end of the plan year in which the
Executive reaches, or would have reached, age seventy-five (75) (such benefits, the “Post-Employment Benefits”). The Executive is currently eligible to participate in the following plans: Executive Physical Exams, Medical Expense
Reimbursement Plan (MERP), Medical Insurance, Dental Insurance, Group Life Insurance (up to $1 million coverage on 

  

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Executive’s life), Vision Service Plan. Coverage under such Post-Employment Plans shall be subject to the Executive and/or such dependents, as
applicable, continuing to pay the applicable employee portion of any premiums, co-payments, deductibles and similar costs Solely with respect to the Executive’s dependents, such coverage shall terminate upon such earlier date if and when they
become ineligible for any such benefits under the terms of such plans and provided, that once the Executive or his dependents become eligible for Medicare or any other government-sponsored medical insurance plan, or if the Executive is
eligible to participate in any other company’s medical insurance plan as an employee after the termination of his employment, the Executive or his dependents shall utilize such government plan or other company plan, and the Company’s
insurance obligations as part of the Post-Employment Benefits hereunder shall become secondary to such government plan or other company plan. Notwithstanding the foregoing, the Company may meet any of its foregoing obligations under the
Post-Employment Plans by paying for, or providing for the payment of, such benefits directly or through alternative plans or individual policies which are no less favorable in all material respects (with respect to both coverage and cost to the
Executive) to the Post-Employment Plans, provided that the Company shall use its best efforts to assure that provision of the Post-Employments Benefits complies with Code Section 409A. 
 SECTION V 
 BUSINESS EXPENSES 
 The Company shall reimburse the Executive for all reasonable travel and other expenses incurred by the Executive in connection with the performance of
his duties and obligations under this Agreement. The Executive shall comply with such limitations and reporting requirements with respect to expenses as may be established by the Company from time to time and shall promptly provide all appropriate
and requested documentation in connection with such expenses. Further, the Executive will receive access to Company aircraft or alternative air transportation, subject to applicable Company policies. 
 SECTION VI 
 DEATH AND DISABILITY

 The Period of Employment shall end upon the Executive’s death. If the Executive becomes Disabled (as defined below) during the
Period of Employment, the Period of Employment may be terminated at the option of the Executive upon notice of resignation to the Company, or at the option of the Company upon notice of termination to the Executive. For purposes of this Agreement,
“Disability” 

  

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shall have the meaning set forth in Section 409A (“Code Section 409A”) of the Code. The Company’s obligation to make payments to the
Executive under this Agreement shall cease as of such date of termination, except for Base Salary and any Incentive Compensation Awards earned but unpaid as of the date of such termination, and, in such event (a) each of the Executive’s
then outstanding options to purchase shares of Cendant common stock (including options to purchase shares of common stock of entities resulting from the adjustment to such Cendant options in connection with the Cendant’s plan to separate into 2
or more public companies (the “Adjusted Options”)) which were granted on or after September 3, 1998 shall become immediately and fully vested and exercisable and, in accordance with the terms and conditions applicable to such options
set forth in the Prior Agreement, shall remain exercisable until the first to occur of the fifth (5th) anniversary of the Executive’s termination of employment and the original expiration date of such option, (b) each option to purchase shares of the Company common stock or stock appreciation rights granted on or
after the Effective Date (excluding any Adjusted Option to acquire the Company common stock) shall become immediately and fully vested and exercisable and, notwithstanding any term or provision thereof to the contrary, shall remain exercisable until
the first to occur of the third (3rd ) anniversary of the Executive’s termination of employment and the
original expiration date of such option, and (c) all other long-term equity awards (including, without limitations, restricted stock units) then outstanding shall become immediately vested.  
 SECTION VII 
 EFFECT OF TERMINATION OF
EMPLOYMENT 
 (a) Without Cause Termination and Constructive Discharge. If the Executive’s employment terminates during the
Period of Employment due to either a Without Cause Termination or a Constructive Discharge (each as defined below): (i) the Company shall pay the Executive (or his surviving spouse, estate or personal representative, as applicable), in
accordance with paragraph (d) below, an amount equal to 299% multiplied by the sum of (A) the Executive’s then current Base Salary, plus (B) the Executive’s then current target Incentive Compensation Award; (ii) each of
the Executive’s then outstanding options, including the Adjusted Options, to purchase shares of common stock which were granted on or after June 1, 2001 and prior to the Effective Date shall become immediately and fully vested and
exercisable and in accordance with the terms and conditions applicable to such options set forth in the Prior Agreement, shall remain exercisable until the first to occur of the fifth (5th) anniversary of the Executive’s termination of employment and the original expiration date of such option; (iii) each option to purchase shares
of the Company common stock or stock appreciation right granted on or after the Proposed Transaction 

  

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(excluding any Adjusted Option to acquire the Company common stock) shall become immediately and fully vested and exercisable and, notwithstanding any term
or provision thereof to the contrary, shall remain exercisable until the first to occur of the third (3rd)
anniversary of the Executive’s termination of employment and the original expiration date of such option or stock appreciation right, and (iv) all other long-term equity awards (including, without limitation, the restricted stock units)
shall become immediately vested. 
 Further, if the Executive’s employment terminates by reason of Without Cause Termination or
Constructive Discharge during the Period of Employment or a Resignation at any time during or after the expiration of the Period of Employment, each of the Executive’s then outstanding options to purchase shares of Cendant common stock,
including the Adjusted Options, which were granted on or after September 3, 1998 and prior to December 31, 2000, in accordance with the terms and conditions applicable to such options set fort in the Prior Agreement, shall remain
exercisable until the first to occur of the fifth (5th) anniversary of the Executive’s termination of
employment and the original expiration date of such option. 
 (b) Termination for Cause; Resignation. If the Executive’s
employment terminates due to a Termination for Cause or a Resignation, Base Salary and any Incentive Compensation Awards earned but unpaid as of the date of such termination shall be paid to the Executive in accordance with paragraph (d) below.
Outstanding stock options and other equity awards held by the Executive as of the date of termination shall be treated in accordance with their terms (except as provided in paragraph (a) above). Except as provided in this paragraph, the Company
shall have no further obligations to the Executive hereunder. 
 (c) For purposes of this Agreement, the following terms have the following
meanings: 
 i. “Termination for Cause” means (a) the Executive’s willful failure to substantially perform his duties as
an employee of the Company or any subsidiary (other than any such failure resulting from incapacity due to physical or mental illness), (b) any act of fraud, misappropriation, dishonesty, embezzlement or similar conduct against the Company or
any subsidiary, (c) the Executive’s conviction of a felony or any crime involving moral turpitude (which conviction, due to the passage of time or otherwise, is not subject to further appeal), (d) the Executive’s gross negligence
in the performance of his duties or (e) the Executive purposefully or negligently makes (or has been found to have made) a false certification to the Company pertaining to its financial statements. 
  

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 ii. “Constructive Discharge” means (a) any material failure of the Company to fulfill its
obligations under this Agreement (including without limitation any reduction of the Base Salary, as the same may be increased during the Period of Employment, or other element of compensation), (b) the Business Office is relocated to any
location which is more than 30 miles from the city limits of Parsippany, New Jersey, (c) a person, other than Henry R. Silverman, becoming the Chief Executive Officer of the Company, (d) during the Initial Period, the Executive no longer
reports directly to Henry R. Silverman as the Chief Executive Officer of the Company, (e) during the Remaining Period the Executive is not the Chief Executive Officer and the most senior executive officer of the Company or any material
diminution to the Executive’s duties hereunder, (f) during the Remaining Period the Executive does not report directly to the board of directors of the Company, (g) the Company provides notification under Section III of this Agreement
that it is not extending the Agreement for an Additional Term, (h) the occurrence of a “Corporate Transaction” as defined below or (i) the Executive is not nominated to be a member of the Board of the Company. The Executive shall
provide the Company a written notice of his intention to resign within 60 days after the Executive knows or has reason to know of the occurrence of any such event which notice describes the circumstances being relied on for the termination with
respect to this Agreement. With respect to clauses (a) and (b) of this paragraph, the Company shall have ten (10) days after receipt of such notice to remedy the event prior to the termination for Constructive Discharge and, upon the
timely remedy of such event, such event shall no longer constitute a basis for Constructive Discharge. 
 iii. “Without Cause
Termination” or “Terminated Without Cause” means termination of the Executive’s employment by the Company other than due to death, disability, or Termination for Cause. 
 iv. “Resignation” means a termination of the Executive’s employment by the Executive, other than in connection with a Constructive
Discharge. 
 v. “Corporate Transaction” means the occurrence of the events described in clauses (i) or (ii) of
Section 2(g) of the Company’s 2006 Equity and Incentive Plan, as amended from time to time, except that, in clause (i), “50%” shall be substituted for “30%” therein, and in clause (ii), “one-half” shall be
substituted for “two-thirds” therein. 
 (d) Conditions to Payment and Acceleration. All payments due to the Executive under
this Section VII shall be made as soon as practicable, but in no 

  

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event earlier than the date permitted under Section 409A of the Code, to the extent such payment is subject to Section 409A of the Code;
provided, however, that such payments shall be subject to, and contingent upon, the execution by the Executive (or his beneficiary or estate) of a release of claims against the Company and its affiliates in such reasonable form
determined by the Company in its sole discretion. The payments due to the Executive under this Section VII shall be in lieu of any other severance benefits otherwise payable to the Executive under any severance plan of the Company or its affiliates.

 SECTION VIII 
 OTHER DUTIES OF
THE EXECUTIVE 
 DURING AND AFTER THE PERIOD OF EMPLOYMENT 
 (a) The Executive shall, with reasonable notice during or after the Period of Employment, furnish information as may be in his possession and fully
cooperate with the Company and its affiliates as may be requested in connection with any claims or legal action in which the Company or any of its affiliates is or may become a party. After the Period of Employment, the Executive shall cooperate as
reasonably requested with the Company and its affiliates in connection with any claims or legal actions in which the Company or any of its affiliates is or may become a party. The Company agrees to reimburse the Executive for any reasonable
out-of-pocket expenses incurred by Executive by reason of such cooperation, including any loss of salary, and the Company shall make reasonable efforts to minimize interruption of the Executive’s life in connection with his cooperation in such
matters as provided for in this paragraph. 
 (b) The Executive recognizes and acknowledges that all information pertaining to this Agreement
or to the affairs; business; results of operations; accounting methods, practices and procedures; members; acquisition candidates; financial condition; clients; customers or other relationships of the Company or any of its affiliates
(“Information”) is confidential and is a unique and valuable asset of the Company or any of its affiliates. Access to and knowledge of certain of the Information is essential to the performance of the Executive’s duties under this
Agreement. The Executive shall not during the Period of Employment or thereafter, except to the extent reasonably necessary in performance of his duties under this Agreement, give to any person, firm, association, corporation, or governmental agency
any Information, except as may be required by law. The Executive shall not make use of the Information for his own purposes or for the benefit of any person or organization other than the Company or any of its affiliates. The Executive shall also
use his best efforts to prevent the disclosure of this Information by others. All records, 

  

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memoranda, etc. relating to the business of the Company or its affiliates, whether made by the Executive or otherwise coming into his possession, are
confidential and shall remain the property of the Company or its affiliates. 
 (c) (i) During the Period of Employment and for a two
(2) year period thereafter (the “Restricted Period”), irrespective of the cause, manner or time of any termination, the Executive shall not use his status with the Company or any of its affiliates to obtain loans, goods or services
from another organization on terms that would not be available to him in the absence of his relationship to the Company or any of its affiliates. 
 (ii) During the Restricted Period, the Executive shall not make any statements or perform any acts intended to have the effect of advancing the interest of any existing competitors (or any entity the Executive knows to be a prospective
competitor) of the Company or any of its affiliates or in any way injuring the interests of the Company or any of its affiliates. During the Restricted Period, the Executive, without prior express written approval by the Board, shall not engage in,
or directly or indirectly (whether for compensation or otherwise) own or hold proprietary interest in, manage, operate, or control, or join or participate in the ownership, management, operation or control of, or furnish any capital to or be
connected in any manner with, any party which competes in any way or manner with the business of the Company or any of its affiliates, as such business or businesses may be conducted from time to time, either as a general or limited partner,
proprietor, common or preferred shareholder, officer, director, agent, employee, consultant, trustee, affiliate, or otherwise. The Executive acknowledges that the Company’s and its affiliates’ businesses are conducted nationally and
internationally and agrees that the provisions in the foregoing sentence shall operate throughout the United States and the world. 
 (iii)
During the Restricted Period, the Executive, without express prior written approval from the Board, shall not solicit any members or the then-current clients of the Company or any of its affiliates for any existing business of the Company or any of
its affiliates or discuss with any employee of the Company or any of its affiliates information or operation of any business intended to compete with the Company or any of its affiliates. 
 (iv) During the Restricted Period, the Executive shall not interfere with the employees or affairs of the Company or any of its affiliates or solicit or
induce any person who is an employee of the Company or any of its affiliates to terminate any relationship such person may have with the Company or any of its affiliates, nor shall the Executive during such period directly or indirectly engage,
employ or 

  

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compensate, or cause or permit any person with which the Executive may be affiliated, to engage, employ or compensate, any employee of the Company or any of
its affiliates. The Executive hereby represents and warrants that the Executive has not entered into any agreement, understanding or arrangement with any employee of the Company or any of its affiliates pertaining to any business in which the
Executive has participated or plans to participate, or to the employment, engagement or compensation of any such employee. 
 (v) For the
purposes of this Agreement, proprietary interest means legal or equitable ownership, whether through stock holding or otherwise, of an equity interest in a business, firm or entity or ownership of more than 5% of any class of equity interest in a
publicly-held company and the term “affiliate” shall include without limitation all subsidiaries and licensees of the Company. 
 (d) The Executive hereby acknowledges that damages at law may be an insufficient remedy to the Company if the Executive violates the terms of this Agreement and that the Company shall be entitled, upon making the requisite showing, to
preliminary and/or permanent injunctive relief in any court of competent jurisdiction to restrain the breach of or otherwise to specifically enforce any of the covenants contained in this Section VIII without the necessity of showing any actual
damage or that monetary damages would not provide an adequate remedy. Such right to an injunction shall be in addition to, and not in limitation of, any other rights or remedies the Company may have. Without limiting the generality of the foregoing,
neither party shall oppose any motion the other party may make for any expedited discovery or hearing in connection with any alleged breach of this Section VIII. 
 (e) The period of time during which the provisions of this Section VIII shall be in effect shall be extended by the length of time during which the Executive is in breach of the terms hereof as determined by any court
of competent jurisdiction on the Company’s application for injunctive relief. 
 (f) The Executive agrees that the restrictions
contained in this Section VIII are an essential element of the compensation the Executive is granted hereunder and but for the Executive’s agreement to comply with such restrictions, the Company would not have entered into this Agreement.

  

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 SECTION IX 
 INDEMNIFICATION 
 The Company shall indemnify the Executive to the fullest extent permitted by the
laws of the state of the Company’s incorporation in effect at that time, or the certificate of incorporation and by-laws of the Company, whichever affords the greater protection to the Executive (including payment of expenses in advance of
final disposition of a proceeding). 
 SECTION X 
 CERTAIN TAXES 
 Anything in this Agreement or in any other plan, program or agreement to the contrary
notwithstanding and except as set forth below, in the event that (i) the Executive becomes entitled to any benefits or payments under Section VII hereof and (ii) it shall be determined that any payment or distribution by the Company to or
for the benefit of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section X) (a
“Payment”) would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended, or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax,
together with any such interest and penalties, hereinafter collectively referred to as the “Excise Tax”), then the Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after
payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon
the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing provisions of this Section X, if it shall be determined that the Executive is entitled to
a Gross-Up Payment, but that the Payments do not exceed 110% of the greatest amount (the “Reduced Amount”) that could be paid to the Executive such that the receipt of Payments would not give rise to any Excise Tax, then no Gross-Up
Payment shall be made to the Executive and the Payments, in the aggregate, shall be reduced to the Reduced Amount, provided, however, that the payments or benefits to be eliminated in effecting such reduction shall be agreed upon between the Company
and the Executive. All determinations required to be made under this Section X, including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination,
shall be made by Deloitte & Touche LLP or such other certified public accounting firm as may be designated by the Company. 
  

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 SECTION XI 
 MITIGATION 
 The Executive shall not be required to mitigate the amount of any payment provided for
hereunder by seeking other employment or otherwise, nor shall the amount of any such payment be reduced by any compensation earned by the Executive as the result of employment by another employer after the date the Executive’s employment
hereunder terminates. 
 SECTION XII 
 WITHHOLDING TAXES 
 The Executive acknowledges and agrees that the Company may directly or indirectly withhold from any
payments under this Agreement all federal, state, city or other taxes that shall be required pursuant to any law or governmental regulation. 
 SECTION XIII 
 EFFECT OF PRIOR AGREEMENTS 
 This Agreement shall supersede any prior agreements between Cendant, the Company, and the Executive (including but not limited to the Prior Agreement) hereof, and any such prior agreement shall be deemed terminated
without any remaining obligations of either party thereunder. 
 SECTION XIV 
 CONSOLIDATION, MERGER OR SALE OF ASSETS 
 Nothing in this Agreement shall
preclude the Company from consolidating or merging into or with, or transferring all or substantially all of its assets to, another corporation which assumes this Agreement and all obligations and undertakings of the Company hereunder. If
(i) there is a merger, consolidation or other business combination involving the Company, or (ii) all or substantially all of the voting stock of the Company is held by another public company, the term “the Company” shall mean
the successor to the Company’s business or assets referred to in (i) above or such public company referred to in (ii) above, and this Agreement shall continue in full force and effect. Notwithstanding the foregoing, the Company shall
require 
  

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 any successor thereto, by agreement in form and substance reasonably satisfactory to the Executive to expressly assume
and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such agreement prior to the effectiveness of any
such succession shall be a breach of the Agreement and shall entitle the Executive to compensation from the Company in the same amount and on the same terms as Executive would be entitled hereunder if the Company had terminated Executive’s
employment Without Cause as described herein, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the date of termination. 
 SECTION XV 
 MODIFICATION 
 This Agreement may not be modified or amended except in writing signed by the parties. No term or condition of this Agreement shall be deemed to have
been waived except in writing by the party charged with waiver. A waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver for the future or act on anything other than that which is specifically waived.

 SECTION XVI 
 GOVERNING LAW

 This Agreement has been executed and delivered in the State of New Jersey and its validity, interpretation, performance and
enforcement shall be governed by the internal laws of that state. 
 SECTION XVII 
 ARBITRATION 
 (a) Any controversy, dispute or claim arising out of or relating
to this Agreement or the breach hereof which cannot be settled by mutual agreement (other than with respect to the matters covered by Section VIII for which the Company may, but shall not be required to, seek injunctive relief) shall be finally
settled by binding arbitration in accordance with the Federal Arbitration Act (or if not applicable, the applicable state arbitration law) as follows: Any party who is aggrieved shall deliver a notice to the other party setting forth the specific
points in dispute. Any points remaining in dispute twenty (20) days after the giving of such notice may be submitted to arbitration in New York, New York, to the American Arbitration 

  

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Association, before a single arbitrator appointed in accordance with the arbitration rules of the American Arbitration Association, modified only as herein
expressly provided. After the aforesaid twenty (20) days, either party, upon ten (10) days notice to the other, may so submit the points in dispute to arbitration. The arbitrator may enter a default decision against any party who fails to
participate in the arbitration proceedings. 
 (b) The decision of the arbitrator on the points in dispute shall be final, unappealable and
binding, and judgment on the award may be entered in any court having jurisdiction thereof. 
 (c) Except as otherwise provided in this
Agreement, the arbitrator shall be authorized to apportion its fees and expenses and the reasonable attorneys’ fees and expenses of any such party as the arbitrator deems appropriate. In the absence of any such apportionment, the fees and
expenses of the arbitrator shall be borne equally by each party, and each party shall bear the fees and expenses of its own attorney. 
 (d)
The parties agree that this Section XVII has been included to rapidly and inexpensively resolve any disputes between them with respect to this Agreement, and that this Section XVII shall be grounds for dismissal of any court action commenced by
either party with respect to this Agreement, other than post-arbitration actions seeking to enforce an arbitration award. In the event that any court determines that this arbitration procedure is not binding, or otherwise allows any litigation
regarding a dispute, claim, or controversy covered by this Agreement to proceed, the parties hereto hereby waive any and all right to a trial by jury in or with respect to such litigation. 
 (e) The parties shall keep confidential, and shall not disclose to any person, except as may be required by law, the existence of any controversy
hereunder, the referral of any such controversy to arbitration or the status or resolution thereof. 
 SECTION XVIII 
 SURVIVAL 
 Sections VIII, IX, X, XI,
XII and XIII shall continue in full force in accordance with their respective terms notwithstanding any termination of the Period of Employment. 
  

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 SECTION XIX 
 SEPARABILITY 
 All provisions of this Agreement are intended to be severable. In the event any
provision or restriction contained herein is held to be invalid or unenforceable in any respect, in whole or in part, such finding shall in no way affect the validity or enforceability of any other provision of this Agreement. The parties hereto
further agree that any such invalid or unenforceable provision shall be deemed modified so that it shall be enforced to the greatest extent permissible under law, and to the extent that any court of competent jurisdiction determines any restriction
herein to be unreasonable in any respect, such court may limit this Agreement to render it reasonable in the light of the circumstances in which it was entered into and specifically enforce this Agreement as limited. 
 ***** 
  

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 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the Effective Date. 
  

	
	 REALOGY CORPORATION

	
	  

	 By:

	 Title:

	
	 RICHARD A. SMITH

	
	  

  

 172006 Stock Incentive Plan

 EXHIBIT 10.1 
 KFORCE INC. 
 2006 STOCK INCENTIVE PLAN 
 1. Purposes of the Plan. The purposes of this Stock Incentive Plan are to attract and retain the best available personnel for positions of
substantial responsibility, to provide additional incentive to Employees and Consultants, and to promote the long-term success of the Firm’s business and to link participants’ directly to stockholder interests through increased stock
ownership. Awards granted under the Plan may be Incentive Stock Options, Nonqualified Stock Options, Restricted Stock Awards, Performance Units, Performance Shares and Stock Appreciation Rights. 
 2. Definitions. As used herein, the following definitions shall apply: 
 (a) “Applicable Law” means the legal requirements relating to the administration of the Plan under applicable federal,
state, local and foreign corporate, tax and securities laws, and the rules and requirements of any stock exchange or quotation system on which the Common Stock is listed or quoted. 
 (b) “Award” means an Option, Stock Appreciation Right, Restricted Stock Award, Performance Unit or Performance Share
granted under the Plan. 
 (c) “Award Agreement” means a written agreement by which an Award is evidenced.

 (d) “Board” means the Board of Directors of the Firm. 
 (e) “Change in Control” means the happening of any of the following: 
 (i) When any “person,” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than the Firm; a Subsidiary;
David L. Dunkel or his child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships), or
any trust created for his benefit during his lifetime, or any combination of the foregoing; or a Firm employee benefit plan, including any trustee of such plan acting as trustee) is or becomes the “beneficial owner” (as defined in Rule
13d-3 under the Exchange Act), directly or indirectly, of securities of the Firm representing 25 percent or more of the combined voting power of the Firm’s then outstanding securities; or 
 (ii) individuals who, as of the date of this Agreement, constitute the Board (the “Incumbent Board”) cease for any reason to
constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date of this Agreement whose election, or nomination for election by shareholders, was approved by a vote of at
least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs
as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
 (iii) consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of
the Firm (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the Persons who were the beneficial owners, respectively, of the Firm’s outstanding Common Stock and
outstanding voting securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding
voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the
Employer or all or substantially all of the Employer’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Firm’s
Common Stock and voting securities, as the case may be, (B) no Person (excluding any 

 corporation resulting from such Business Combination or any Executive benefit plan (or related trust) of
the Firm or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, twenty-five percent or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such
Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (C) at least a majority of the members of the
board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or

 (iv) approval by shareholders of a complete liquidation or dissolution of the Firm. 
 (f) “Change in Control Price” means, as determined by the Board, 
 (i) the highest Fair Market Value of a Share within the 60-day period immediately preceding the date of determination of the Change in
Control Price by the Board (the “60-Day Period”), or 
 (ii) the highest price paid or offered per Share, as
determined by the Board, in any bona fide transaction or bona fide offer related to the Change in Control of the Firm, at any time within the 60-Day Period, or 
 (iii) some lower price as the Board, in its sole and absolute discretion, determines to be a reasonable estimate of the fair market value
of a Share. 
 (g) “Code” means the Internal Revenue Code of 1986, as amended. 
 (h) “Committee” means the Compensation Committee of the Board, which shall be appointed by the Board, and shall consist
of members of the Board who are not Employees and who qualify as “outside directors” under Code Section 162(m). 
 (i) “Common Stock” means the Common Stock, $.01 par value, of the Firm. 
 (j)
“Consultant” means any person, including an advisor, engaged by the Firm or a Parent or Subsidiary to render services and who is compensated for such services, including without limitation non-Employee Directors who are paid only a
director’s fee by the Firm or who are compensated by the Firm for their services as non-Employee Directors. In addition, as used herein, “consulting relationship” shall be deemed to include service by a non-Employee Director as such.

 (k) “Continuous Status as an Employee or Consultant” means that the employment or consulting relationship
is not interrupted or terminated by the Firm, any Parent or Subsidiary. Continuous Status as an Employee or Consultant shall not be considered interrupted in the case of (i) any leave of absence approved in writing by the Board, an Officer, or
a person designated in writing by the Board or an Officer as authorized to approve a leave of absence, including sick leave, military leave, or any other personal leave; provided, however, that for purposes of Incentive Stock Options, any such leave
may not exceed 90 days, unless reemployment upon the expiration of such leave is guaranteed by contract (including certain Firm policies) or statute, or (ii) transfers between locations of the Firm or between the Firm, a Parent, a Subsidiary or
successor of the Firm; or (iii) a change in the status of the Grantee from Employee to Consultant or from Consultant to Employee. 
 (l) “Covered Stock” means the Common Stock subject to an Award. 
 (m)
“Date of Grant” means the date on which the Committee makes the determination granting the Award, or such other later date as is determined by the Committee. Notice of the determination shall be provided to each Grantee within a
reasonable time after the Date of Grant. 
 (n) “Date of Termination” means the date on which a
Grantee’s Continuous Status as an Employee or Consultant terminates. 
 (o) “Director” means a member of
the Board. 
 (p) “Disability” means total and permanent disability as defined in Section 22(e)(3) of
the Code. 

 (q) “Employee” means any person, including Officers and Directors,
employed by the Firm or any Parent or Subsidiary of the Firm. Neither service as a Director nor payment of a director’s fee by the Firm shall be sufficient to constitute “employment” by the Firm. 
 (r) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (s) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the National
Market System of the National Association of Securities Dealers, Inc. Automated Quotation (“NASDAQ”) System, the Fair Market Value of a Share of Common Stock shall be the closing sales price for such stock (or the closing bid, if no sales
were reported) as quoted on such system or exchange (or the exchange with the greatest volume of trading in Common Stock) on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source
as the Committee deems reliable; 
 (ii) If the Common Stock is quoted on the NASDAQ System (but not on the National Market
System thereof) or is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share of Common Stock shall be the mean between the high bid and low asked prices for the Common Stock on the
last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Committee deems reliable; 
 (iii) In the absence of an established market for the Common Stock, the Fair Market Value shall be determined in good faith by the Committee. 
 (t) “Firm” means Kforce Inc., a Florida corporation. 
 (u) “Grantee” means an individual who has been granted an Award. 
 (v) “Incentive Stock Option” means an Option intended to qualify as an incentive stock option within the meaning of
Section 422 of the Code and the regulations promulgated thereunder. 
 (w) “Mature Shares” means Shares
for which the holder thereof has good title, free and clear of all liens and encumbrances, and that such holder either (i) has held for at least six months or (ii) has purchased on the open market. 
 (x) “Nonqualified Stock Option” means an Option not intended to qualify as an Incentive Stock Option. 
 (y) “Officer” means a person who is an officer of the Firm within the meaning of Section 16 of the Exchange Act and
the rules and regulations promulgated thereunder. 
 (z) “Option” means a stock option granted under the
Plan. 
 (aa) “Parent” means a corporation, whether now or hereafter existing, in an unbroken chain of
corporations ending with the Firm if each of the corporations other than the Firm holds at least 50 percent of the voting shares of one of the other corporations in such chain. 
 (bb) “Performance Period” means the time period during which the performance goals established by the Committee with
respect to a Performance Unit or Performance Share, pursuant to Section 9 of the Plan, must be met. 
 (cc)
“Performance Share” has the meaning set forth in Section 9 of the Plan. 
 (dd) “Performance
Unit” has the meaning set forth in Section 9 of the Plan. 
 (ee) “Plan” means this Kforce Inc.
2006 Stock Incentive Plan. 
 (ff) “Restricted Stock Award” means Shares that are awarded to a Grantee
pursuant to Section 8 of the Plan. 
 (gg) “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange
Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan. 

 (hh) “Share” means a share of the Common Stock, as adjusted in
accordance with Section 11 of the Plan. 
 (ii) “Stock Appreciation Right” or “SAR” has
the meaning set forth in Section 7 of the Plan. 
 (jj) “Subsidiary” means a corporation, domestic or
foreign, of which not less than 50 percent of the voting shares are held by the Firm or a Subsidiary, whether or not such corporation now exists or is hereafter organized or acquired by the Firm or a Subsidiary. 
 3. Stock Subject to the Plan. Subject to the provisions of Section 11 of the Plan and except as otherwise provided in this Section 3,
the maximum aggregate number of Shares that may be subject to Awards under the Plan since the Plan became effective is 3,000,000 Shares, of which no more than 2,000,000 can be granted as Performance Shares, Performance Units or Restricted Stock
(“full value Awards”), provided, however, that full-value Awards may be granted in excess of 2,000,000 shares provided that such shares will count against the 1,000,000 shares reserved for Options/SARS at a 1.49:1 ratio (i.e. up to either
671,141 full value Awards or 1,000,000 Options/SARS (or some combination thereof using the above ratio) may be granted from the 1,000,000 new share reserve set aside for Option/SAR grants. The Shares may be authorized, but unissued, or reacquired
Common Stock. 
 If an Award expires or becomes unexercisable without having been exercised in full the remaining Shares that were subject to
the Award shall become available for future Awards under the Plan (unless the Plan has terminated). With respect to Options and Stock Appreciation Rights, if the payment upon exercise of an Option or SAR is in the form of Shares, the Shares subject
to the Option or SAR shall be counted against the available Shares as one Share for every Share subject to the Option or SAR, regardless of the number of Shares used to settle the SAR upon exercise. 
 4. Administration of the Plan. 
 (a) Procedure. 
 (i) Administration by Committee. The Plan shall be
administered by the Committee. 
 (ii) Rule 16b-3. To the extent the Committee considers it desirable for transactions
relating to Awards to be eligible to qualify for an exemption under Rule 16b-3, the transactions contemplated under the Plan shall be structured to satisfy the requirements for exemption under Rule 16b-3. 
 (iii) Section 162(m) of the Code. To the extent the Committee considers it desirable for compensation delivered pursuant to
Awards to be eligible to qualify for an exemption from the limit on tax deductibility of compensation under Section 162(m) of the Code, the transactions contemplated under the Plan shall be structured to satisfy the requirements for exemption
under Section 162(m) of the Code. 
 (b) Powers of the Committee. Subject to the provisions of the Plan, and
subject to the specific duties delegated by the Board to the Committee, the Committee shall have the authority, in its sole and absolute discretion: 
 (i) to determine the Fair Market Value of the Common Stock, in accordance with Section 2(t) of the Plan; 
 (ii) to select the Consultants and Employees to whom Awards will be granted under the Plan; 
 (iii) to determine whether, when, to what extent and in what types and amounts Awards are granted under the Plan; 
 (iv) to determine the number of shares of Common Stock to be covered by each Award granted under the Plan; 
 (v) to
determine the forms of Award Agreements, which need not be the same for each grant or for each Grantee, for use under the Plan; 
 (vi) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted under the Plan. Such terms and conditions, which need not be the same for 

 each grant or for each Grantee, include, but are not limited to, the exercise price, the time or times
when Options and SARs may be exercised (which may be based on performance criteria), the extent to which vesting is suspended during a leave of absence, any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation
regarding any Award or the shares of Common Stock relating thereto, based in each case on such factors as the Committee shall determine; 
 (vii) to construe and interpret the terms of the Plan and Awards; 
 (viii) to prescribe,
amend and rescind rules and regulations relating to the Plan, including, without limiting the generality of the foregoing, rules and regulations relating to the operation and administration of the Plan to accommodate the specific requirements of
local and foreign laws and procedures; 
 (ix) to modify or amend each Award (subject to Section 13 of the Plan).
However, the Administrator may not modify or amend any outstanding Option or SAR to reduce the exercise price of such Option or SAR, as applicable, below the exercise price as of the Date of Grant of such Option or SAR. In addition, no Option or SAR
may be granted in exchange for, or in connection with, the cancellation or surrender of an Option or SAR or other Award having a lower exercise price; 
 (x) to authorize any person to execute on behalf of the Firm any instrument required to effect the grant of an Award previously granted by the Committee; 
 (xi) to determine the terms and restrictions applicable to Awards; 
 (xii) to make such adjustments or modifications to Awards granted to Grantees who are Employees of foreign Subsidiaries as are advisable
to fulfill the purposes of the Plan or to comply with Applicable Law; 
 (xiii) to delegate its duties and responsibilities
under the Plan with respect to sub-plans applicable to foreign Subsidiaries, except its duties and responsibilities with respect to Employees who are also Officers or Directors subject to Section 16(b) of the Exchange Act; 
 (xiv) to correct any defect or supply any omission, or reconcile any inconsistency in the Plan, or in any Award Agreement, in the manner
and to the extent it shall deem necessary or expedient to make the Plan fully effective; and 
 (xv) to make all other
determinations deemed necessary or advisable for administering the Plan. 
 (c) Effect of Administrator’s
Decision. The Committee’s decisions, determinations and interpretations shall be final and binding on all Grantees and any other holders of Awards. 
 5. Eligibility and General Conditions of Awards. 
 (a) Eligibility. Awards
other than Incentive Stock Options may be granted to Employees and Consultants. Incentive Stock Options may be granted only to Employees. If otherwise eligible, an Employee or Consultant who has been granted an Award may be granted additional
Awards. 
 (b) Maximum Term. Subject to the following provision, the term during which an Award may be outstanding
shall not extend more than ten years after the Date of Grant, and shall be subject to earlier termination as specified elsewhere in the Plan or Award Agreement; provided, however, that any deferral of a cash payment or of the delivery of Shares that
is permitted or required by the Committee pursuant to Section 10 of the Plan may, if so permitted or required by the Committee, extend more than ten years after the Date of Grant of the Award to which the deferral relates. 
 (c) Award Agreement. To the extent not set forth in the Plan, the terms and conditions of each Award, which need not be the same
for each grant or for each Grantee, shall be set forth in an Award Agreement. 
 (d) Termination of Employment or
Consulting Relationship. In the event that a Grantee’s Continuous Status as an Employee or Consultant terminates (other than upon the Grantee’s death or Disability), then, unless otherwise provided by the Award Agreement, and subject
to Section 11 of the Plan: 

 (i) the Grantee may exercise his or her unexercised Option or SAR, but only within such
period of time as is determined by the Committee, and only to the extent that the Grantee was entitled to exercise it at the Date of Termination (but in no event later than the expiration of the term of such Option or SAR as set forth in the Award
Agreement). In the case of an Incentive Stock Option, the Committee shall determine such period of time (in no event to exceed three months from the Date of Termination) when the Option is granted. If, at the Date of Termination, the Grantee is not
entitled to exercise his or her entire Option or SAR, the Shares covered by the unexercisable portion of the Option or SAR shall revert to the Plan. If, after the Date of Termination, the Grantee does not exercise his or her Option or SAR within the
time specified by the Committee, the Option or SAR shall terminate, and the Shares covered by such Option or SAR shall revert to the Plan; 
 (ii) the Grantee’s Restricted Stock Awards, to the extent forfeitable immediately before the Date of Termination, shall thereupon automatically be forfeited; 
 (iii) the Grantee’s Restricted Stock Awards that were not forfeitable immediately before the Date of Termination shall promptly be
settled by delivery to the Grantee of a number of unrestricted Shares equal to the aggregate number of the Grantee’s vested Restricted Stock Awards; and 
 (iv) any Performance Shares or Performance Units with respect to which the Performance Period has not ended as of the Date of Termination
shall terminate immediately upon the Date of Termination. 
 (e) Disability of Grantee. In the event that a
Grantee’s Continuous Status as an Employee or Consultant terminates as a result of the Grantee’s Disability, then, unless otherwise provided by the Award Agreement: 
 (i) the Grantee may exercise his or her unexercised Option or SAR at any time within 90 days from the Date of Termination, but only to the
extent that the Grantee was entitled to exercise the Option or SAR at the Date of Termination (but in no event later than the expiration of the term of the Option or SAR as set forth in the Award Agreement). If, at the Date of Termination, the
Grantee is not entitled to exercise his or her entire Option or SAR, the Shares covered by the unexercisable portion of the Option or SAR shall revert to the Plan. If, after the Date of Termination, the Grantee does not exercise his or her Option or
SAR within the time specified herein, the Option or SAR shall terminate, and the Shares covered by such Option or SAR shall revert to the Plan. 
 (ii) the Grantee’s Restricted Stock Awards, to the extent forfeitable immediately before the Date of Termination, shall thereupon automatically be forfeited; 
 (iii) the Grantee’s Restricted Stock Awards that were not forfeitable immediately before the Date of Termination shall promptly be
settled by delivery to the Grantee of a number of unrestricted Shares equal to the aggregate number of the Grantee’s vested Restricted Stock Awards; and 
 (iv) any Performance Shares or Performance Units with respect to which the Performance Period has not ended as of the Date of Termination
shall terminate immediately upon the Date of Termination. 
 (f) Death of Grantee. In the event of the death of an
Grantee, then, unless otherwise provided by the Award Agreement, 
 (i) the Grantee’s unexercised Option or SAR may be
exercised at any time within 90 days following the date of death (but in no event later than the expiration of the term of such Option or SAR as set forth in the Award Agreement), by the Grantee’s estate or by a person who acquired the right to
exercise the Option or SAR by bequest or inheritance, but only to the extent that the Grantee was entitled to exercise the Option or SAR at the date of death. If, at the time of death, the Grantee was not entitled to exercise his or her entire
Option or SAR, the Shares covered by the unexercisable portion of the Option or SAR shall immediately revert to the Plan. If, after death, the Grantee’s estate or a person who acquired the right to exercise the Option or SAR by bequest or
inheritance does not exercise the Option or SAR within the time specified herein, the Option or SAR shall terminate, and the Shares covered by such Option or SAR shall revert to the Plan. 

 (ii) the Grantee’s Restricted Stock Awards, to the extent forfeitable immediately
before the date of death, shall thereupon automatically be forfeited; 
 (iii) the Grantee’s Restricted Stock Awards that
were not forfeitable immediately before the date of death shall promptly be settled by delivery to the Grantee’s estate or a person who acquired the right to hold the Stock Grant by bequest or inheritance, of a number of unrestricted Shares
equal to the aggregate number of the Grantee’s vested Restricted Stock Awards; and 
 (iv) any Performance Shares or
Performance Units with respect to which the Performance Period has not ended as of the date of death shall terminate immediately upon the date of death. 
 (g) Nontransferability of Awards. 
 (i) Except as provided in Section 5(g)(iii)
below, each Award, and each right under any Award, shall be exercisable only by the Grantee during the Grantee’s lifetime, or, if permissible under Applicable Law, by the Grantee’s guardian or legal representative. 
 (ii) Except as provided in Section 5(g)(iii) below, no Award (prior to the time, if applicable, Shares are issued in respect of such
Award), and no right under any Award, may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Grantee otherwise than by will or by the laws of descent and distribution (or in the case of Restricted Stock
Awards, to the Firm) and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Firm or any Subsidiary; provided, that the designation of a beneficiary shall not
constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance. 
 (iii) To the extent and in the
manner permitted by Applicable Law, and to the extent and in the manner permitted by the Committee, and subject to such terms and conditions as may be prescribed by the Committee, a Grantee may transfer an Award to: 
 (A) a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the Grantee (including adoptive relationships); 
 (B) any person sharing the employee’s household (other than a tenant or employee); 
 (C) a trust in which
persons described in (A) and (B) have more than 50 percent of the beneficial interest; 
 (D) a foundation in which
persons described in (A) or (B) or the Grantee control the management of assets; or 
 (E) any other entity in
which the persons described in (A) or (B) or the Grantee own more than 50 percent of the voting interests; 
 provided such transfer
is not for value. The following shall not be considered transfers for value: a transfer under a domestic relations order in settlement of marital property rights, and a transfer to an entity in which more than 50 percent of the voting interests are
owned by persons described in (A) above or the Grantee, in exchange for an interest in such entity. 
 6. Stock Options.

 (a) Limitations. 
 (i) Each Option shall be designated in the Award Agreement as either an Incentive Stock Option or a Nonqualified Stock Option. Any Option designated as an Incentive Stock Option: 
 (A) shall not have an aggregate Fair Market Value (determined for each Incentive Stock Option at the Date of Grant) of Shares with
respect to which Incentive Stock 

 Options are exercisable for the first time by the Grantee during any calendar year (under the Plan and
any other employee stock option plan of the Firm or any Parent or Subsidiary (“Other Plans”)), determined in accordance with the provisions of Section 422 of the Code, that exceeds $100,000 (the “$100,000 Limit”);

 (B) shall, if the aggregate Fair Market Value of Shares (determined on the Date of Grant) with respect to the portion of
such grant that is exercisable for the first time during any calendar year (“Current Grant”) and all Incentive Stock Options previously granted under the Plan and any Other Plans that are exercisable for the first time during a calendar
year (“Prior Grants”) would exceed the $100,000 Limit, be exercisable as follows: 
 (1) The portion of the Current
Grant that would, when added to any Prior Grants, be exercisable with respect to Shares that would have an aggregate Fair Market Value (determined as of the respective Date of Grant for such Options) in excess of the $100,000 Limit shall,
notwithstanding the terms of the Current Grant, be exercisable for the first time by the Grantee in the first subsequent calendar year or years in which it could be exercisable for the first time by the Grantee when added to all Prior Grants without
exceeding the $100,000 Limit; and 
 (2) If, viewed as of the date of the Current Grant, any portion of a Current Grant could
not be exercised under the preceding provisions of this Section 6(a)(i)(B) during any calendar year commencing with the calendar year in which it is first exercisable through and including the last calendar year in which it may by its terms be
exercised, such portion of the Current Grant shall not be an Incentive Stock Option, but shall be exercisable as a separate Option at such date or dates as are provided in the Current Grant. 
 (ii) No Employee shall be granted, in any fiscal year of the Firm, Options to purchase more than 400,000 Shares. The limitation described
in this Section 6(a)(ii) shall be adjusted proportionately in connection with any change in the Firm’s capitalization as described in Section 11 of the Plan. If an Option is canceled in the same fiscal year of the Firm in which it was
granted (other than in connection with a transaction described in Section 11 of the Plan), the canceled Option will be counted against the limitation described in this Section 6(a)(ii). 
 (b) Term of Option. The term of each Option shall be stated in the Award Agreement; provided, however, that the term shall be 10
years from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive Stock Option granted to a Grantee who, at the time the Incentive Stock Option is granted, owns stock representing more
than 10 percent of the voting power of all classes of stock of the Firm or any Parent or Subsidiary, the term of the Incentive Stock Option shall be five years from the date of grant or such shorter term as may be provided in the Award Agreement.

 (c) Option Exercise Price and Consideration. 
 (i) Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option shall be determined
by the Committee and, except as otherwise provided in this Section 6(c)(i), shall be no less than 100 percent of the Fair Market Value per Share on the Date of Grant. 
 (A) In the case of an Incentive Stock Option granted to an Employee who on the Date of Grant owns stock representing more than 10 percent
of the voting power of all classes of stock of the Firm or any Parent or Subsidiary, the per Share exercise price shall be no less than 110 percent of the Fair Market Value per Share on the Date of Grant. 
 (B) Any Option that is (1) granted to a Grantee in connection with the acquisition (“Acquisition”), however effected, by
the Firm of another corporation or entity (“Acquired Entity”) or the assets thereof, (2) associated with an option to purchase shares of stock or other equity interest of the Acquired Entity or an affiliate thereof 

 (“Acquired Entity Option”) held by such Grantee immediately prior to such Acquisition, and
(3) intended to preserve for the Grantee the economic value of all or a portion of such Acquired Entity Option, may be granted with such exercise price as the Committee determines to be necessary to achieve such preservation of economic value.

 (d) Waiting Period and Exercise Dates. At the time an Option is granted, the Committee shall fix the period within
which the Option may be exercised and shall determine any conditions that must be satisfied before the Option may be exercised. An Option shall be exercisable only to the extent that it is vested according to the terms of the Award Agreement.

 (e) Form of Consideration. The Committee shall determine the acceptable form of consideration for exercising an
Option, including the method of payment. In the case of an Incentive Stock Option, the Committee shall determine the acceptable form of consideration at the time of grant. The acceptable form of consideration may consist of any combination of cash,
personal check, wire transfer or, subject to the approval of the Committee: 
 (i) Mature Shares; 
 (ii) pursuant to procedures approved by the Committee, (A) through the sale of the Shares acquired on exercise of the Option through
a broker-dealer to whom the Grantee has submitted an irrevocable notice of exercise and irrevocable instructions to deliver promptly to the Firm the amount of sale or loan proceeds sufficient to pay the exercise price, together with, if requested by
the Firm, the amount of federal, state, local or foreign withholding taxes payable by the Grantee by reason of such exercise, or (B) through simultaneous sale through a broker of Shares acquired upon exercise; or 
 (iii) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Law. 
 (f) Exercise of Option. 
 (i) Procedure for Exercise; Rights as a Shareholder. 
 (A) Any Option granted
hereunder shall be exercisable according to the terms of the Plan and at such times and under such conditions as determined by the Committee and set forth in the Award Agreement. 
 (B) An Option may not be exercised for a fraction of a Share. 
 (C) An Option shall be deemed exercised when the Firm receives: 
 (1) written notice of exercise (in accordance with the Award Agreement) from the person entitled to exercise the Option. 
 (2) Shares issued upon exercise of an Option shall be issued in the name of the Grantee or, if requested by the Grantee, in the name of
the Grantee and his or her spouse. Until the stock certificate evidencing such Shares is issued (as evidenced by the appropriate entry on the books of the Firm or of a duly authorized transfer agent of the Firm), no right to vote or receive
dividends or any other rights as a shareholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Firm shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No
adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 11 of the Plan. 
 (3) Exercising an Option in any manner shall decrease the number of Shares thereafter available, both for purposes of the Plan and for
sale under the Option, by the number of Shares as to which the Option is exercised. 
 7. Stock Appreciation Rights. 
 (a) Grant of SARs. Subject to the terms and conditions of the Plan, the Committee may grant SARs in tandem with an Option or alone
and unrelated to an Option. Tandem SARs shall expire no later than the expiration of the underlying Option. In no event shall the term of a SAR exceed ten years from the Date of Grant. 

 (b) Exercise of SARs. SARs shall be exercised by the delivery of a written notice
of exercise to the Firm, setting forth the number of Shares over which the SAR is to be exercised. Tandem SARs may be exercised: 
 (i) with respect to all or part of the Shares subject to the related Option upon the surrender of the right to exercise the equivalent portion of the related Option; 
 (ii) only with respect to the Shares for which its related Option is then exercisable; and 
 (iii) only when the Fair Market Value of the Shares subject to the Option exceeds the exercise price of the Option. 
 The value of the payment with respect to the tandem SAR may be no more than 100 percent of the difference between the exercise price of the underlying
Option and the Fair Market Value of the Shares subject to the underlying Option at the time the tandem SAR is exercised. 
 (c) Payment of SAR Benefit. Upon exercise of a SAR, the Grantee shall be entitled to receive payment from the Firm in an amount determined by multiplying: 
 (i) the excess of the Fair Market Value of a Share on the date of exercise over the SAR exercise price; by 
 (ii) the number of Shares with respect to which the SAR is exercised; 
 provided, that the Committee may provide in the Award Agreement that the benefit payable on exercise of a SAR shall not exceed such percentage of the Fair
Market Value of a Share on the Date of Grant, or any other limitation, as the Committee shall specify. The payment upon exercise of a SAR shall be in Shares that have an aggregate Fair Market Value (as of the date of exercise of the SAR) equal to
the amount of the payment. 
 (d) No Employee shall be granted, in any fiscal year, SARs with respect to more than 400,000
Shares. The limitation described in this Section 7(d) shall be adjusted proportionately in connection with any change in the Firm’s capitalization as described in Section 11 of the Plan. If a SAR is canceled in the same fiscal year of
the Firm in which it was granted (other than in connection with a transaction described in Section 11 of the Plan), the canceled SAR will be counted against the limitation described in this Section 7(d). 
 8. Restricted Stock Awards. Subject to the terms of the Plan, the Committee may grant Restricted Stock Awards to any Employee or Consultant, in
such amount and upon such terms and conditions as shall be determined by the Committee. 
 (a) Administrator Action.
The Committee acting in its sole and absolute discretion shall have the right to grant Restricted Stock to Employees and Consultants under the Plan from time to time. Each Restricted Stock Award shall be evidenced by a Restricted Stock Agreement,
and each Restricted Stock Agreement shall set forth the conditions, if any, which will need to be timely satisfied before the grant will be effective and the conditions, if any, under which the Grantee’s interest in the related Stock will be
forfeited. The Committee may make grants of Performance-Based Restricted Stock and grants of Restricted Stock that is not Performance-Based Restricted Stock. 
 (b) Performance-Based Restricted Stock. 
 (i) Effective Date. A grant of Performance-Based Restricted Stock shall be effective as of the date the Committee certifies that
the applicable conditions described in Section 8(b)(iii) of the Plan have been timely satisfied. 
 (ii) Share
Limitation. No more than 400,000 shares of Performance-Based Restricted Stock may be granted to an Employee or Consultant in any calendar year. 
 (iii) Grant Conditions. The Committee, acting in its sole and absolute discretion, may select from time to time Employees and Consultants to receive grants of Performance-Based Restricted Stock in such amounts
as the Committee may, in its sole and absolute discretion, determine, subject to any limitations provided in the Plan. The Committee shall make each 

 grant subject to the attainment of certain performance targets. The Committee shall determine the
performance targets which will be applied with respect to each grant of Performance-Based Restricted Stock at the time of grant, but in no event later than 90 days after the commencement of the period of service to which the performance targets
relate. The performance criteria applicable to Performance-Based Restricted Stock grants will be one or more of the following criteria: 
  

	 	•	 	common stock price; 

  

	 	•	 	average annual growth in earnings per share; 

  

	 	•	 	increase in shareholder value or shareholder return; 

  

	 	•	 	earnings per share; 

  

	 	•	 	net income, net income margin or net income growth; 

  

	 	•	 	return on assets; 

  

	 	•	 	return on shareholders’ equity; 

  

	 	•	 	return on capital employed (ROCE); 

  

	 	•	 	return on invested capital (ROIC); 

  

	 	•	 	cash flow, cash flow margins or cash flow growth; 

  

	 	•	 	operating profit, operating margins or operating profit growth; 

  

	 	•	 	revenue growth of Kforce; 

  

	 	•	 	operating expenses; 

  

	 	•	 	gross profit, gross profit percentage or gross profit growth; 

  

	 	•	 	working capital; 

  

	 	•	 	revenue levels; 

  

	 	•	 	selling, general & administrative expense levels; 

  

	 	•	 	debt or debt-to-equity; 

  

	 	•	 	accounts receivable write-offs; 

  

	 	•	 	cash levels; or 

  

	 	•	 	liquidity. 

 The related Restricted Stock Agreement shall
set forth the applicable performance criteria and the deadline for satisfying the performance criteria. 
 (iv) Forfeiture
Conditions. The Committee may make each Performance-Based Restricted Stock grant (if, when and to the extent that the grant becomes effective) subject to one, or more than one, objective employment, performance or other forfeiture condition
which the Committee acting in its sole and absolute discretion deems appropriate under the circumstances for Employees or Consultants generally or for a Grantee in particular, and the related Restricted Stock Agreement shall set forth each such
condition and the deadline for satisfying each such forfeiture condition. A Grantee’s nonforfeitable interest in the Shares related to a Performance-Based Restricted Stock grant shall depend on the extent to which each such condition is timely
satisfied. A Stock certificate shall be issued (subject to the conditions, if any, described in this Section 8(b)) to, or for the benefit of, the Grantee with respect to the number of shares for which a grant has become effective as soon as
practicable after the date the grant becomes effective. 
 (c) Restricted Stock Other Than Performance-Based Restricted
Stock. 
 (i) Effective Date. A Restricted Stock grant which is not a grant of Performance-Based Restricted Stock
shall be effective (a) as of the date set by the Committee when the grant is made or, if the grant is made subject to one, or more than one, condition, (b) as of the date the Committee determines that such conditions have been timely
satisfied. 

 (ii) Grant Conditions. The Committee acting in its sole and absolute discretion
may make the grant of Restricted Stock which is not Performance-Based Restricted Stock to a Grantee subject to the satisfaction of one, or more than one, objective employment, performance or other grant condition which the Committee deems
appropriate under the circumstances for Employees or Consultants generally or for a Grantee in particular, and the related Restricted Stock Agreement shall set forth each such condition and the deadline for satisfying each such grant condition.

 (iii) Forfeiture Conditions. The Committee may make each grant of Restricted Stock which is not a grant of
Performance-Based Restricted Stock (if, when and to the extent that the grant becomes effective) subject to one, or more than one, objective employment, performance or other forfeiture condition which the Committee acting in its sole and absolute
discretion deems appropriate under the circumstances for Employees or Consultants generally or for a Grantee in particular, and the related Restricted Stock Agreement shall set forth each such condition and the deadline for satisfying each such
forfeiture condition. A Grantee’s nonforfeitable interest in the Shares related to a grant of Restricted Stock which is not a grant of Performance-Based Restricted Stock shall depend on the extent to which each such condition is timely
satisfied. A Stock certificate shall be issued (subject to the conditions, if any, described in this Section 8(c)) to, or for the benefit of, the Grantee with respect to the number of shares for which a grant has become effective as soon as
practicable after the date the grant becomes effective. 
 (d) Dividends and Voting Rights. Each Restricted Stock
Agreement shall state whether the Grantee shall have a right to receive any cash dividends which are paid with respect to his or her Restricted Stock after the date his or her Restricted Stock grant has become effective and before the first day that
the Grantee’s interest in such stock is forfeited completely or becomes completely nonforfeitable. If a Restricted Stock Agreement provides that a Grantee has no right to receive a cash dividend when paid, such agreement shall set forth the
conditions, if any, under which the Grantee will be eligible to receive one, or more than one, payment in the future to compensate the Grantee for the fact that he or she had no right to receive any cash dividends on his or her Restricted Stock when
such dividends were paid. If a Restricted Stock Agreement calls for any such payments to be made, the Firm shall make such payments from the Firm’s general assets, and the Grantee shall be no more than a general and unsecured creditor of the
Firm with respect to such payments. If a stock dividend is declared on such a Share after the grant is effective but before the Grantee’s interest in such Stock has been forfeited or has become nonforfeitable, such stock dividend shall be
treated as part of the grant of the related Restricted Stock, and a Grantee’s interest in such stock dividend shall be forfeited or shall become nonforfeitable at the same time as the Share with respect to which the stock dividend was paid is
forfeited or becomes nonforfeitable. If a dividend is paid other than in cash or stock, the disposition of such dividend shall be made in accordance with such rules as the Committee shall adopt with respect to each such dividend. A Grantee shall
have the right to vote the Shares related to his or her Restricted Stock grant after the grant is effective with respect to such Shares but before his or her interest in such Shares has been forfeited or has become nonforfeitable. 
 (e) Satisfaction of Forfeiture Conditions. A Share shall cease to be Restricted Stock at such time as a Grantee’s interest in
such Share becomes nonforfeitable under the Plan, and the certificate representing such share shall be reissued as soon as practicable thereafter without any further restrictions related to Section 8(b) or Section 8(c) and shall be
transferred to the Grantee. 
 9. Performance Units and Performance Shares. 
 (a) Grant of Performance Units and Performance Shares. Subject to the terms of the Plan, the Committee may grant Performance Units
or Performance Shares to any Employee or Consultant in such amounts and upon such terms as the Committee shall determine. 
 (b) Value/Performance Goals. Each Performance Unit shall have an initial value that is established by the Committee on the Date of Grant. Each Performance Share shall have an initial 

 value equal to the Fair Market Value of a Share on the Date of Grant. The Committee shall set performance
goals that, depending upon the extent to which they are met, will determine the number or value of Performance Units or Performance Shares that will be paid to the Grantee. 
 (c) Payment of Performance Units and Performance Shares. 
 (i) Subject to the terms of the Plan, after the applicable Performance Period has ended, the holder of Performance Units or Performance
Shares shall be entitled to receive a payment based on the number and value of Performance Units or Performance Shares earned by the Grantee over the Performance Period, determined as a function of the extent to which the corresponding performance
goals have been achieved. 
 (ii) If a Grantee is promoted, demoted or transferred to a different business unit of the Firm
during a Performance Period, then, to the extent the Committee determines appropriate, the Committee may adjust, change or eliminate the performance goals or the applicable Performance Period as it deems appropriate in order to make them appropriate
and comparable to the initial performance goals or Performance Period. 
 (d) Form and Timing of Payment of Performance
Units and Performance Shares. Payment of earned Performance Units or Performance Shares shall be made in a lump sum following the close of the applicable Performance Period. The Committee may pay earned Performance Units or Performance Shares in
cash or in Shares (or in a combination thereof) that have an aggregate Fair Market Value equal to the value of the earned Performance Units or Performance Shares at the close of the applicable Performance Period. Such Shares may be granted subject
to any restrictions deemed appropriate by the Committee. The form of payout of such Awards shall be set forth in the Award Agreement pertaining to the grant of the Award. 
 10. Tax Withholding. The Firm shall deduct from all cash distributions under the Plan any taxes required to be withheld by federal, state, local or foreign government. Whenever the Firm proposes or is required
to issue or transfer Shares under the Plan, the Firm shall have the right to require the recipient to remit to the Firm an amount sufficient to satisfy any federal, state, local and foreign withholding tax requirements prior to the delivery of any
certificate or certificates for such shares. A Grantee may pay the withholding tax in cash, or, if the applicable Award Agreement provides, a Grantee may elect to have the number of Shares he is to receive reduced by the smallest number of whole
Shares that, when multiplied by the Fair Market Value of the Shares determined as of the Tax Date (defined below), is sufficient to satisfy federal, state, local and foreign, if any, withholding taxes arising from exercise or payment of a grant
under the Plan (a “Withholding Election”). A Grantee may make a Withholding Election only if the Withholding Election is made on or prior to the date on which the amount of tax required to be withheld is determined (the “Tax
Date”) by executing and delivering to the Firm a properly completed notice of Withholding Election as prescribed by the Committee. The Committee may in its sole and absolute discretion disapprove and give no effect to the Withholding Election.

 11. Adjustments Upon Changes in Capitalization or Change of Control. 
 (a) Changes in Capitalization. Subject to any required action by the shareholders of the Firm, the number of Covered Shares, and
the number of shares of Common Stock which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan upon cancellation or expiration of an Award, as well as the price per
share of Covered Stock, shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common
Stock, or any other increase or decrease in the number of issued shares of Common Stock effected without receipt of consideration by the Firm; provided, however, that conversion of any convertible securities of the Firm shall not be deemed to have
been “effected without receipt of consideration.” Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Firm of
shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Covered Stock. 

 (b) Change in Control. In the event of a Change in Control, then the following
provisions shall apply: 
 (i) Vesting. The Board may, in the exercise of its sole and absolute discretion, accelerate
the vesting and nonforfeitability of any Award that is outstanding on the date such Change in Control is determined to have occurred and that is not yet fully vested and nonforfeitable on such date. 
 (ii) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Firm, to the extent that an Award
is outstanding, it will terminate immediately prior to the consummation of such proposed action. The Board may, in the exercise of its sole and absolute discretion in such instances, declare that any Option or SAR shall terminate as of a date fixed
by the Board and give each Grantee the right to exercise his or her Option or SAR as to all or any part of the Covered Stock, including Shares as to which the Option or SAR would not otherwise be exercisable. 
 (iii) Merger or Asset Sale. Except as otherwise determined by the Board, in its sole and absolute discretion, prior to the
occurrence of a merger of the Firm with or into another corporation, or the sale of substantially all of the assets of the Firm, in the event of such a merger or sale each outstanding Option or SAR shall be assumed or an equivalent option or right
shall be substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation or a Parent or Subsidiary of the successor corporation does not agree to assume the Option or SAR
or to substitute an equivalent option or right, the Board may, in the exercise of its sole and absolute discretion and in lieu of such assumption or substitution, provide for the Grantee to have the right to exercise the Option or SAR as to all or a
portion of the Covered Stock, including Shares as to which it would not otherwise be exercisable. If the Board makes an Option or SAR exercisable in lieu of assumption or substitution in the event of a merger or sale of assets, the Committee shall
notify the Grantee that the Option or SAR shall be fully exercisable for a period of 30 days from the date of such notice, and the Option or SAR will terminate upon the expiration of such period. For the purposes of this paragraph, the Option or SAR
shall be considered assumed if, following the merger or sale of assets, the option or right confers the right to purchase, for each Share of Covered Stock subject to the Option or SAR immediately prior to the merger or sale of assets, the
consideration (whether stock, cash, or other securities or property) received in the merger or sale of assets by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of
consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the merger or sale of assets was not solely common stock of the successor corporation
or its Parent, the Board may, with the consent of the successor corporation and the participant, provide for the consideration to be received upon the exercise of the Option or SAR, for each Share subject to the Option or SAR, to be solely common
stock of the successor corporation or its Parent equal in Fair Market Value to the per Share consideration received by holders of Common Stock in the merger or sale of assets. 
 (iv) Except as otherwise determined by the Board, in its sole and absolute discretion, prior to the occurrence of a Change in Control
other than the dissolution or liquidation of the Firm, a merger of the Firm with or into another corporation, or the sale of substantially all of the assets of the Firm, in the event of such a Change in Control, all outstanding Options and SARs, to
the extent they are exercisable and vested, shall be terminated in exchange for a cash payment equal to the Change in Control Price (reduced by the exercise price applicable to such Options or SARs). These cash proceeds shall be paid to the Grantee
or, in the event of death of a Grantee prior to payment, to the estate of the Grantee or to a person who acquired the right to exercise the Option or SAR by bequest or inheritance. 
 12. Term of Plan. The Plan shall become effective upon its approval by the shareholders of the Firm. Such shareholder approval shall be obtained
in the manner and to the degree required under applicable federal and state law. The Plan shall continue in effect until April 28, 2016, unless terminated earlier under Section 13 of the Plan. 

 13. Amendment and Termination of the Plan. 
 (a) Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 
 (b) Shareholder Approval. The Firm shall obtain shareholder approval of any Plan amendment to the extent necessary and desirable to
comply with Rule 16b-3 or with Section 422 or Section 162(m) of the Code (or any successor rule or statute) or other Applicable Law. Such shareholder approval, if required, shall be obtained in such a manner and to such a degree as is
required by the Applicable Law. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or
termination of the Plan shall impair the rights of any Grantee, unless mutually agreed otherwise between the Grantee and the Committee, which agreement must be in writing and signed by the Grantee and the Firm. 
 14. Conditions Upon Issuance of Shares. 
 (a) Legal Compliance. Shares shall not be issued pursuant to an Award unless the exercise, if applicable, of such Award and the issuance and delivery of such Shares shall comply with all relevant provisions of
law, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, Applicable Law, and the requirements of any stock exchange or quotation system upon which the Shares may
then be listed or quoted, and shall be further subject to the approval of counsel for the Firm with respect to such compliance. 
 (b) Investment Representations. As a condition to the exercise of an Award, the Firm may require the person exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for
investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Firm, such a representation is required. 
 15. Liability of Firm. 
 (a) Inability to Obtain Authority. The inability of
the Firm to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Firm’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Firm of any liability in
respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 
 (b)
Grants Exceeding Allotted Shares. If the Covered Stock covered by an Award exceeds, as of the date of grant, the number of Shares that may be issued under the Plan without additional shareholder approval, such Award shall be void with respect
to such excess Covered Stock, unless shareholder approval of an amendment sufficiently increasing the number of Shares subject to the Plan is timely obtained in accordance with Section 13 of the Plan. 
 16. Reservation of Shares. The Firm, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be
sufficient to satisfy the requirements of the Plan. 
 17. Rights of Employees and Consultants. Neither the Plan nor any Award shall
confer upon a Grantee any right with respect to continuing the Grantee’s employment or consulting relationship with the Firm, nor shall they interfere in any way with the Grantee’s right or the Firm’s right to terminate such
employment or consulting relationship at any time, with or without cause. 
 18. Sub-plans for Foreign Subsidiaries. The Board may
adopt sub-plans applicable to particular foreign Subsidiaries. All Awards granted under such sub-plans shall be treated as grants under the Plan. The rules of such sub-plans may take precedence over other provisions of the Plan, with the exception
of Section 3, but unless otherwise superseded by the terms of such sub-plan, the provisions of the Plan shall govern the operation of such sub-plan. 
 19. Construction. The Plan shall be construed under the laws of the State of Florida, to the extent not preempted by federal law, without reference to the principles of conflict of laws. 

 20. Certain Limitations on Awards to Ensure Compliance with Code Section 409A. For purposes
of this Plan, references to an award term or event (including any authority or right of the Firm or a Grantee) being “permitted” under Code Section 409A mean, for a 409A Award (meaning an Award that constitutes a deferral of
compensation under Code Section 409A and regulations thereunder), that the term or event will not cause the Grantee to be liable for payment of interest or a tax penalty under Code Section 409A and, for a Non-409A Award (meaning all Awards
other than 409A Awards), that the term or event will not cause the Award to be treated as subject to Code Section 409A. Other provisions of the Plan notwithstanding, the terms of any 409A Award and any Non-409A Award, including any authority of
the Firm and rights of the Grantee with respect to the Award, shall be limited to those terms permitted under Code Section 409A, and any terms not permitted under Code Section 409A shall be automatically modified and limited to the extent
necessary to conform with Code Section 409A. For this purpose, other provisions of the Plan notwithstanding, the Firm shall have no authority to accelerate distributions relating to 409A Awards in excess of the authority permitted under Code
Section 409A, and any distribution subject to Code Section 409A(a)(2)(A)(i) (separation from service) to a “key employee” as defined under Code Section 409A(a)(2)(B)(i), shall not occur earlier than the earliest time
permitted under Code Section 409A(a)(2)(B)(i).

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