Document:

EX-10.2

 Exhibit 10.2 
 FORM OF SECOND AMENDED AND RESTATED VOTING AGREEMENT 

 SECOND AMENDED AND RESTATED VOTING AGREEMENT 

THIS SECOND AMENDED AND RESTATED VOTING AGREEMENT (the “Agreement”) is made and entered into as of this
     day of September 2013, by and among Benefitfocus, Inc., a Delaware corporation (the “Company”), each entity listed on Schedule A (the “GS Investors”), each entity listed on Schedule B
(the “Oak Investors” and, together with the GS Investors, the “Investors”) and each individual listed on Schedule C hereto (the “Key Holders” and, together with the Investors, the
“Stockholders”). 
 RECITALS 
 The parties desire to enter into this Agreement to set forth their agreements and understandings with respect to, among other things, how shares of the Company’s capital stock held by them will be voted in
connection with the election for directors to the Company’s board of directors (the “Board”). 
 NOW, THEREFORE, the
parties agree as follows: 
 1. Voting Provisions Regarding Board of Directors. 

1.1. General. Each Stockholder agrees to vote, or cause to be voted, all Shares (as defined below) owned by such Stockholder, or over which
such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to carry into effect the intent of this Agreement. For purposes of this Agreement, the term “Shares” shall mean and
include any securities of the Company the holders of which are entitled to vote for members of the Board, including without limitation, all shares of common stock and preferred stock, by whatever name called, now owned or subsequently acquired by a
Stockholder, however acquired, whether through stock splits, stock dividends, reclassifications, recapitalizations, similar events or otherwise. 
 1.2. Board Composition. Each Stockholder agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or over which such Stockholder has voting control, from time to time and at all times, at
each annual or special meeting of stockholders at which an election of directors is held or pursuant to any written consent of the stockholders, in favor of the following persons for election to the Board, and the Company agrees to nominate, or
cause to be nominated, the following individuals for election to the Board of the Company at each annual or special meeting of stockholders at which an election of directors is held: 

(a) As long as The Goldman Sachs Group, Inc. and its Affiliates (defined below) (collectively, “Goldman Sachs”)
holds not fewer than 10% of the fully diluted equity interest in the Company, two (2) individuals designated by GS Capital Partners VI Parallel, L.P. (“GS Fund VI”), which individuals shall initially be Raheel Zia and Joseph
DiSabato; 
 (b) As long as Oak Investment Partners and its Affiliates (collectively, “Oak”) holds not
fewer than 5% of the fully diluted equity interest in the Company, one (1) individual designated by Oak, which individual shall initially be Ann H. Lamont; and 

  
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 (c) As long as each of Mason Holland and Shawn Jenkins, including in each case their
respective Affiliates, holds Shares equal to or in excess of the Minimum Ownership Threshold (defined below), Mason Holland and Shawn Jenkins. 

For purposes of this Agreement, an individual, firm, corporation, partnership, association, limited liability company, trust or any other entity
(collectively, a “Person”) shall be deemed an “Affiliate” of another Person who, directly or indirectly, controls, is controlled by or is under common control with such Person, including, without limitation, any
general partner, officer, director, or manager of such Person and any venture capital fund now or hereafter existing that is controlled by one or more general partners of or shares the same management company with such Person. 

1.3. Failure to Nominate a Board Member. In the absence of any nomination from the persons or groups with the right to nominate a director
as specified above, the director previously nominated by them and then serving shall be renominated if still eligible to serve as provided herein. 
 1.4. Removal of Board Members. Each Stockholder also agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or over which such Stockholder has voting control, from time to time and at
all times, as follows: 
 (a) for so long as Goldman Sachs holds at least 10% of the fully diluted equity interest in the
Company, the Stockholders agree not to vote to remove from office any director elected pursuant to Section 1.2(a) of this Agreement unless such removal is directed or approved by GS Fund VI; 

(b) for so long as Oak holds at least 5% of the fully diluted equity interest in the Company, the Stockholders agree not to vote to
remove from office any director elected pursuant to Section 1.2(b) of this Agreement unless such removal is directed or approved by Oak; 
 (c) for so long as each of Shawn Jenkins and Mason Holland, including in each case their respective Affiliates, continue to hold at least 50% of the common stock held by them on the date of this Agreement (the
“Minimum Ownership Threshold”), the Stockholders agree not to vote to remove from office either Shawn Jenkins or Mason Holland unless such removal is directed or approved by Shawn Jenkins and Mason Holland, for each of their
respective positions; and 
 (d) any vacancies created by the resignation, removal or death of a director elected pursuant
to Sections 1.2 or 1.3 shall be filled pursuant to the provisions of this Section 1. 
 All
Stockholders agree to execute any written consents required to perform the obligations of this Agreement. 
 1.5. No Liability for
Election of Recommended Directors. No party, nor any Affiliate of any such party, shall have any liability as a result of nominating a person for election as a director for any act or omission by such person in his or her capacity as a director
of the Company, nor shall any party have any liability as a result of voting for any such nominee in accordance with the provisions of this Agreement. 

  
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 1.6. Fiduciary Duties; Director Qualifications. 

(a) Each Stockholder is entering into this Agreement in his or its capacity as the holder of capital stock of the Company. Any other
provision of this Agreement notwithstanding, to the extent a Stockholder serves as an officer or director of the Company, nothing contained herein shall limit his ability to exercise his ordinary and customary duties as an officer or director of the
Company, including, without limitation, the exercise of his fiduciary obligations to the Company and its stockholders. 

(b) Any other provision of this Agreement notwithstanding, the Company and each Stockholder’s obligations under this Agreement
is subject in all respects to the applicable law (including, without limitation, the directors’ fiduciary duties), the rules and regulations of the Securities and Exchange Commission and the listing requirements or standards of the NASDAQ Stock
Market LLC or the requirements or standards of any other exchange, system or market on which the stock of the Company is principally listed. The Company’s obligation to nominate the designees of the Stockholders set forth in Section 1.2 is
conditioned upon such designee meeting the director qualifications standards set forth in the Company’s Amended and Restated Bylaws, the charter of the Nominating and Corporate Governance Committee of the Board, and any other qualification
standards the Board adopts. If a director designee of a Stockholder fails to meet these qualification standards, the Stockholder may designate another person to serve as a director that does meets these qualification standards. 

1.7. Committees. So long as an Affiliate of The Goldman Sachs Group, Inc. serves as a director of the Company and to the extent permitted
by the rules of the stock exchange on which the Common Stock of the Company is then listed, the Company agrees that such director will have the right to serve on the Compensation Committee of the board of directors of the Company (or such other
committee which carries out the functions customarily fulfilled by a compensation committee) and the Nominating Committee of the board of directors of the Company (or such other committee which carries out the functions customarily fulfilled by a
nominating committee), and the Company agrees to take all actions necessary to effect the foregoing. The covenants set forth in this Section 1.7, and such director’s right to serve on such committees, will terminate and be of no further
force or effect when (i) the Company ceases to be a “controlled company” as defined by the rules of the stock exchange on which the Common Stock of the company is then listed or (ii) an Affiliate of The Goldman Sachs Group, Inc.
ceases to be, either alone or as part of a group, a stockholder of the Company whose beneficial ownership of the voting stock of the Company results in the Company being a “controlled company,” whichever event occurs first. 

2. Remedies. 
 2.1.
Covenants of the Company. The Company agrees to use its best efforts, within the requirements of applicable law, to ensure that the rights granted under this Agreement are effective and that the parties enjoy the benefits of this Agreement.
Such actions include, without limitation, the use of the Company’s best efforts to cause the nomination of the directors as provided in this Agreement. 

  
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 2.2. Irrevocable Proxy. Each party to this Agreement hereby constitutes and appoints the
President and Treasurer of the Company, and each of them, with full power of substitution, as the proxies of the party with respect to the matters set forth herein, including without limitation, election of persons as members of the Board in
accordance with Section 1 hereto, and hereby authorizes each of them to represent and to vote, if and only if the party (i) fails to vote or (ii) attempts to vote (whether by proxy, in person or by written consent), in a manner
which is inconsistent with the terms of this Agreement, all of such party’s Shares in favor of the election of persons as members of the Board determined pursuant to and in accordance with the terms and provisions of this Agreement. The proxy
granted pursuant to the immediately preceding sentence is given in consideration of the agreements and covenants of the Company and the parties in connection with the transactions contemplated by this Agreement and, as such, is coupled with an
interest and shall be irrevocable unless and until this Agreement terminates or expires in accordance herewith. Each party hereto hereby revokes any and all previous proxies with respect to the Shares and shall not hereafter, unless and until this
Agreement terminates or expires in accordance herewith, purport to grant any other proxy or power of attorney with respect to any of the Shares, deposit any of the Shares into a voting trust or enter into any agreement (other than this Agreement),
arrangement or understanding with any person, directly or indirectly, to vote, grant any proxy or give instructions with respect to the voting of any of the Shares, in each case, with respect to any of the matters set forth herein. 

2.3. Specific Enforcement. Each party acknowledges and agrees that each party hereto will be irreparably damaged in the event any of the
provisions of this Agreement are not performed by the parties in accordance with their specific terms or are otherwise breached. Accordingly, it is agreed that each of the Company and the Stockholders shall be entitled to an injunction to prevent
breaches of this Agreement, and to specific enforcement of this Agreement and its terms and provisions in any action instituted in any court of the United States or any state having subject matter jurisdiction. 

2.4. Remedies Cumulative. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and
not alternative. 
 3. Term. This Agreement shall be effective upon the consummation of a registered firm commitment underwritten
public offering of the Company’s common stock (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to its stock option, stock purchase or similar plan or an SEC Rule 145
transaction) and shall continue in effect until and shall terminate upon the earliest to occur of (a) five (5) years following the date hereof and (b) termination of this Agreement in accordance with Section 4.6 hereof. In
addition, this Agreement shall terminate as to any party hereto at such time as such party no longer has a right to nominate a director pursuant to Section 1 of this Agreement. 

4. Miscellaneous. 
 4.1.
Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer
upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

  
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 4.2. Governing Law. This Agreement shall be governed by, and construed in accordance with, the
laws of the State of New York, regardless of the laws that might otherwise govern under applicable principles of conflicts of law. 

4.3. Counterparts; Facsimile. This Agreement may be executed and delivered by facsimile signature and in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 4.4. Titles and
Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
 4.5. Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be
notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after having been sent by registered or
certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after the business day of deposit with a nationally recognized overnight courier, specifying next business day delivery, with written verification of
receipt. All communications shall be sent to the respective parties at their address as set forth on Schedule A, Schedule B or Schedule C hereto, or to such email address, facsimile number or address as subsequently modified by
written notice given in accordance with this Section 4.5. If notice is given to the Company, a copy shall also be sent to Wyrick Robbins Yates & Ponton LLP, 4101 Lake Boone Trail, Suite 300, Raleigh, NC 27607, Attn: Donald R.
Reynolds. 
 4.6. Consent Required to Amend, Terminate or Waive. This Agreement may be amended or modified and the
observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only by a written instrument executed by (a) the Key Holders holding a majority of the Shares then held by the
Key Holders, and in all circumstances, each of Shawn Jenkins and Mason Holland so long as they respectively hold Shares in excess of the Minimum Ownership Threshold, and (b) the holders of a majority of the Shares held by the Investors (voting
as a single class and on an as-converted basis). Notwithstanding the foregoing: 
 (i) this Agreement may not be amended or
terminated and the observance of any term of this Agreement may not be waived with respect to any Investor or Key Holder without the written consent of such Investor or Key Holder unless such amendment, termination or waiver applies to all Investors
or Key Holders, as the case may be, in the same fashion; 
 (ii) the consent of the Key Holders shall not be required for
any amendment or waiver if such amendment or waiver does not apply to or affect the Key Holders; 

  
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 (iii) any provision hereof may be waived by the waiving party on such party’s own
behalf, without the consent of any other party; and 
 (iv) Section 1.2(a), Section 2.1 and
Section 4.6(iv) of this Agreement shall not be amended or waived without the written consent of GS Fund VI, Section 1.2(b), Section 2.1 and Section 4.6(iv) of this Agreement shall not be amended or waived without the
written consent of Oak, and Section 1.2(c) of this Agreement shall not be amended or waived without the written consent of the holders of a majority of Shares held by the Key Holders and each of Shawn Jenkins and Mason Holland, so long
as they respectively hold Shares in excess of the Minimum Ownership Threshold. 
 The Company shall give prompt written notice of any
amendment, termination or waiver hereunder to any party that did not consent in writing thereto. Any amendment, termination or waiver effected in accordance with this Section 4.6 shall be binding on each party and all of such
party’s successors and permitted assigns, whether or not any such party, successor or assignee entered into or approved such amendment, termination or waiver. 
 4.7. Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall
impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring;
nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default previously or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or
default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under
this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 
 4.8. Severability. The
invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision. 

4.9. Entire Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties with respect to the
subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties are expressly canceled. 
 4.10. Stock Splits, Stock Dividends, etc. In the event of any issuance of Shares of the Company’s voting securities hereafter to any of the Stockholders (including, without limitation, in connection
with any stock split, stock dividend, recapitalization, reorganization, or the like), such Shares shall become subject to this Agreement. 
 4.11. Manner of Voting. The voting of Shares pursuant to this Agreement may be effected in person, by proxy, by written consent or in any other manner permitted by applicable law. 

  
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 4.12. Further Assurances. At any time or from time to time after the date hereof, the parties
agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably request in order to evidence or effectuate
the consummation of the transactions contemplated hereby and to otherwise carry out the intent of the parties hereunder. 
 [Signature Page
Follows] 

  
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 IN WITNESS WHEREOF, the parties have executed this Second Amended and Restated Voting Agreement as of
the date first written above. 
  

									
	THE COMPANY:	 		 	
		 		 	BENEFITFOCUS, INC.
				
		 		 	By:	 	  

		 		 	 Name: Mason R. Holland, Jr.

Title: Chairman of the Board

		 		 	Address:	 	 100 Benefitfocus Way
 Charleston, SC 29492

 [Additional Signature Pages Follow] 

  
 Signature Page to
Second Amended and Restated Voting Agreement 

  
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 KEY HOLDERS: 

 

			
	  

	 Name:
	 	 Mason R. Holland, Jr.

	 Address:
	 	  

		 	  

	
	  

	 Name:
	 	 Shawn Jenkins

	 Address:
	 	  

		 	  

 [Additional Signature Pages Follow] 

  
 Signature Page to
Second Amended and Restated Voting Agreement 

  
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	GS INVESTORS:	 		 		 		 	
			
		 		 	GS CAPITAL PARTNERS VI, L.P.
		 		 	By:	 	 GS Advisors VI, L.L.C.
 its General
Partner

			
		 		 	  
 Name:

Title:

			
		 		 	GS CAPITAL PARTNERS VI OFFSHORE, L.P.
		 		 	By:	 	 GS Advisors VI, L.L.C.
 its General
Partner

			
		 		 	  
 Name:

Title:

			
		 		 	GS CAPITAL PARTNERS VI GmbH & Co. KG, L.P.
		 		 	By:	 	 GS Advisors VI, L.L.C.
 its Managing
Limited Partner

			
		 		 	  
 Name:

Title:

			
		 		 	GS CAPITAL PARTNERS VI PARALLEL, L.P.
		 		 	By:	 	 GS Advisors VI, L.L.C.
 its General
Partner

			
		 		 	  
 Name:

Title:

  
 Signature Page to
Second Amended and Restated Voting Agreement 

  
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	OAK INVESTORS:	 		 		 	
			
		 		 	OAK INVESTMENT PARTNERS XII, LIMITED PARTNERSHIP
		 		 	By:	 	Oak Associates XII, LLC, its General Partner
			
		 		 	  

		 		 	 Name:
 Title:
	 	 Ann H. Lamont
 Managing Member

  
 Signature Page to
Amended and Restated Voting Agreement 

  
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 SCHEDULE A 
 GS INVESTORS 
 Name and Address 

GS CAPITAL PARTNERS VI PARALLEL, L.P. 

85 Broad St., 10th Floor 
 New York, NY 10004 
 GS CAPITAL PARTNERS VI GmbH & Co. KG 

85 Broad St., 10th Floor 
 New York, NY 10004 
 GS CAPITAL PARTNERS VI FUND, L.P. 

85 Broad St., 10th Floor 
 New York, NY 10004 
 GS CAPITAL PARTNERS VI OFFSHORE FUND, L.P. 

85 Broad St., 10th Floor 
 New York, NY 10004 

  
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 SCHEDULE B 
 OAK INVESTORS 
 Name and Address 

OAK INVESTMENT PARTNERS XII, LIMITED PARTNERSHIP 

One Gorham Road 
 Westport, CT 06880 

  
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 SCHEDULE C 
 KEY HOLDERS 
 Name and Address 

Mason R. Holland, Jr. 
 Shawn Jenkins 

  
 14EX-10.4

 Exhibit 10.4 
 BENEFITFOCUS.COM, INC. 
 2012 STOCK PLAN, AS AMENDED 

Approved by the Board of Directors: August 26, 2013 
 Approved by the Stockholders:                     . 

1. Purpose. This 2012 Stock Plan (the “Plan”) is intended to provide incentives: 

(a) to employees of Benefitfocus.com, Inc., a South Carolina corporation (the “Company”), or its parent (if any)
or any of its present or future subsidiaries (collectively, “Related Corporations”), by providing them with opportunities to purchase Common Stock (as defined below) of the Company pursuant to options granted hereunder that qualify as
“incentive stock options” (“ISOs”) under Section 422 of the Internal Revenue Code of 1986, as amended, or any successor statute (the “Code”); 

(b) to directors, employees and consultants of the Company and Related Corporations by providing them with opportunities to purchase
Common Stock of the Company pursuant to options granted hereunder that do not qualify as ISOs (Nonstatutory Stock Options, or “NSOs”); 
 (c) to employees and consultants of the Company and Related Corporations by providing them with bonus awards of Common Stock of the Company (“Stock Bonuses”); and 

(d) to employees and consultants of the Company and Related Corporations by providing them with opportunities to make direct purchases of
Common Stock of the Company (“Purchase Rights”); and 
 (e) to employees and consultants of the Company
and Related Corporations by providing them with the right to receive, without payment to the Company, a number of shares of Common Stock, cash, or any combination thereof determined pursuant to a formula specified herein
(“SARs”). 
 Both ISOs and NSOs are referred to hereafter individually as
“Options,” and Options, Stock Bonuses, Purchase Rights and SARs are referred to hereafter collectively as “Stock Rights.” As used herein, the terms “parent” and “subsidiary” mean
“parent corporation” and “subsidiary corporation,” respectively, as those terms are defined in Section 424 of the Code. 
 2. Administration of the Plan. 
 (a) The Plan shall be administered by
(i) the Board of Directors of the Company (the “Board”) or (ii) a committee consisting of directors or other persons appointed by the Board (the “Committee”). The appointment of the members
of, and the delegation of powers to, the Committee by the Board shall be consistent with applicable laws and regulations (including, without limitation, the Code, Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), or any successor rule thereto (“Rule 16b-3”), and any applicable state law (collectively, the “Applicable Laws”). Once appointed, such Committee shall continue
to serve in its designated capacity until otherwise directed by the Board. From time to time, the Board may increase the size of the Committee and appoint 

 
additional members thereof, remove members (with or without cause) and appoint new members in substitution therefor, fill vacancies, however caused, and remove all members of the Committee and
thereafter directly administer the Plan, all to the extent permitted by the Applicable Laws. 
 (b) Subject to ratification of
the grant or authorization of each Stock Right by the Board (if so required by an Applicable Law), and subject to the terms of the Plan, the Committee, if so appointed, shall have the authority, in its discretion, to: 

(i) determine the employees of the Company and Related Corporations (from among the class of employees eligible under Section 3 to
receive ISOs) to whom ISOs may be granted, and to determine (from among the classes of individuals and entities eligible under Section 3 to receive NSOs, Stock Bonuses, Purchase Rights and SARs) to whom NSOs, Stock Bonuses, Purchase Rights and
SARs may be granted; 
 (ii) determine the time or times at which Options, Stock Bonuses, Purchase Rights or SARs may be
granted (which may be based on performance criteria); 
 (iii) determine the number of shares of Common Stock subject to any
Stock Right granted by the Committee; 
 (iv) determine the option price of shares subject to each Option, which price shall
not be less than the minimum price specified in Section 6 hereof, as appropriate, the purchase price of shares subject to each Purchase Right and the exercise price of each SAR, and to determine the form of consideration to be paid to the
Company for exercise of such Option or purchase of shares with respect to a Purchase Right; 
 (v) determine whether each
Option granted shall be an ISO or NSO; 
 (vi) determine (subject to Section 7) the time or times when each Option shall
become exercisable and the duration of the exercise period; 
 (vii) determine whether restrictions such as repurchase options
are to be imposed on shares subject to Options, Stock Bonuses and Purchase Rights and the nature of such restrictions, if any; 

(viii) approve forms of agreement for use under the Plan; 
 (ix) determine the Fair Market Value (as defined in Section 6(d) below) of a Stock Right or the Common Stock underlying a Stock Right; 

(x) accelerate vesting on any Stock Right or to waive any forfeiture restrictions, or to waive any other limitation or restriction with
respect to a Stock Right; 

  
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 (xi) reduce the exercise price of any Stock Right if the Fair Market Value of the Common
Stock covered by such Stock Right shall have declined since the date the Stock Right was granted; 
 (xii) institute a program
whereby outstanding Options can be surrendered in exchange for Options with a lower exercise price; 
 (xiii) modify or amend
each Stock Right (subject to Section 8(d) of the Plan) including the discretionary authority to extend the post-termination exercisability period of Stock Rights longer than is otherwise provided for by terms of the Plan or the Stock Right;

 (xiv) construe and interpret the Plan and Stock Rights granted hereunder and prescribe and rescind rules and regulations
relating to the Plan; and 
 (xv) make all other determinations necessary or advisable for the administration of the Plan.

 If the Committee determines to issue a NSO, it shall take whatever actions it deems necessary, under Section 422 of the
Code and the regulations promulgated thereunder, to ensure that such Option is not treated as an ISO. The interpretation and construction by the Committee of any provisions of the Plan or of any Stock Right granted under it shall be final unless
otherwise determined by the Board. The Committee may from time to time adopt such rules and regulations for carrying out the Plan as it may deem best. No member of the Board or the Committee shall be liable for any action or determination made in
good faith with respect to the Plan or any Stock Right granted under it. 
 (c) The Committee may select one of its members as
its chairman, and shall hold meetings at such times and places as it may determine. The Committee shall keep minutes of its meetings and shall make such rules and regulations for the conduct of its business as it may deem necessary. The Committee
shall have the power to act by written consent in lieu of a meeting and to meet telephonically. Acts by a majority of the Committee, approved in person at a meeting or in writing, shall be the valid acts of the Committee. All references in this Plan
to the Committee shall mean the Board if no Committee has been appointed. 
 (d) Those provisions of the Plan that make express
reference to Rule 16b-3 shall apply to the Company only at such time as the Company’s Common Stock is registered under the Exchange Act, and then only to such persons as are required to file reports under Section 16(a) of the Exchange Act
(a “Reporting Person”). 
 (e) To the extent that Stock Rights are to be qualified as
“performance-based” compensation within the meaning of Section 162(m) of the Code, the Plan shall be administered by a committee consisting of two or more “outside directors” as determined under Section 162(m) of the
Code. 

  
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 3. Eligible Employees and Others. 

(a) Eligibility. ISOs may be granted to any employee of the Company or any Related Corporation. Those officers of the Company who
are not employees may not be granted ISOs under the Plan. NSOs, Stock Bonuses, Purchase Rights and SARs may be granted to any director, employee or consultant of the Company or any Related Corporation. Granting of any Stock Right to any individual
or entity shall neither entitle that individual or entity to, nor disqualify him or her from, participation in any other grant of Stock Rights. 
 (b) Special Rule for Grant of Stock Rights to Reporting Persons. The selection of a director or an officer who is a Reporting Person (as the terms “director” and “officer” are
defined for purposes of Rule 16b-3) as a recipient of a Stock Right, the timing of the Stock Right grant, the exercise price, if any, of the Stock Right and the number of shares subject to the Stock Right shall be determined either (i) by the
Board or (ii) by a committee of the Board that is composed solely of two or more Non-Employee Directors having full authority to act in the matter. For the purposes of the Plan, a director shall be deemed to be a “Non-Employee
Director” only if such person is defined as such under Rule 16b-3(b)(3), as interpreted from time to time. 
 (c)
Annual Limitation for Employees. To the extent the Company is subject to Section 162(m) of the Code, no employee shall be eligible to be granted Stock Rights covering more than 4,044,525 shares of Common Stock during any calendar year.

 4. Stock. The stock subject to Stock Rights shall be authorized but unissued shares of Common Stock of the Company, no
par value per share, or such shares of the Company’s capital stock into which such class of shares may be converted pursuant to any reorganization, recapitalization, merger, consolidation or the like (the “Common
Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of shares that may be issued pursuant to the Plan is 6,544,525 shares of Common Stock, less any shares issued or subject to outstanding
Options under the Company’s Amended and Restated 2000 Stock Option Plan (the “2000 Plan”), subject to adjustment as provided herein. Any such shares may be issued as ISOs, NSOs or Stock Bonuses, or to persons or entities making
purchases pursuant to Purchase Rights or exercises pursuant to SARs, so long as the number of shares so issued does not exceed such aggregate number, as adjusted. To the extent that cash in lieu of shares of Common Stock is delivered upon the
exercise of an SAR pursuant to Section 15, the Company shall be deemed, for purposes of applying the limitation on the number of shares, to have issued the greater of the number of shares of Common Stock which it was entitled to issue upon such
exercise or on the exercise of any related Option. If any Option or SAR granted under the Plan or under the 2000 Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in
whole or in part, or if the Company shall reacquire any shares issued pursuant to Stock Rights, the unpurchased shares subject to such Options and SARs and any shares so reacquired by the Company shall again be available for grants of Stock Rights
under the Plan. Shares of Common Stock which are withheld to pay the exercise price of an Option and/or any related withholding obligations shall not be available for issuance under the Plan. 

  
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 5. Granting of Stock Rights. Stock Rights may be granted under the Plan at any time
after the Effective Date, as set forth in Section 16, and prior to 10 years thereafter. The date of grant of a Stock Right under the Plan will be the date specified by the Board or Committee at the time it grants the Stock Right;
provided, however, that such date shall not be prior to the date on which the Board or Committee acts. The Board or Committee shall have the right, with the consent of the optionee, to convert an ISO granted under the Plan to an NSO
pursuant to Section 17. 
 6. Minimum Price; ISO Limitations. 

(a) The price per share specified in the agreement relating to each NSO, Stock Bonus, Purchase Right or SAR granted under the Plan shall
be established by the Board or Committee, taking into account any noncash consideration to be received by the Company from the recipient of Stock Rights. 
 (b) The price per share specified in the agreement relating to each ISO granted under the Plan shall not be less than the Fair Market Value per share of such Common Stock on the date of such grant. In the
case of an ISO to be granted to an employee owning stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any Related Corporation, the price per share specified in the agreement relating to such
ISO shall not be less than 110% of the Fair Market Value per share of such Common Stock on the date of the grant. 
 (c) To the
extent that the aggregate Fair Market Value (determined at the time an ISO is granted) of Common Stock for which ISOs granted to any employee are exercisable for the first time by such employee during any calendar year (under all stock option plans
of the Company and any Related Corporation) exceeds $100,000; or such higher value as permitted under Code Section 422 at the time of determination, such Options will be treated as NSOs, provided that this Section shall have no force or effect
to the extent that its inclusion in the Plan is not necessary for Options issued as ISOs to qualify as ISOs pursuant to Section 422 of the Code. The rule of this Section 6(c) shall be applied by taking Options in the order in which they
were granted. 
 (d) “Fair Market Value” on any date means (i) if the Common Stock is readily
tradable on an established securities market (as defined in Section 1.897-1(m) of the final regulations issued by the United States Treasury pursuant to the Code (the “Treasury Regulations”), the closing sales price of
the Common Stock on the trading day immediately preceding such date on the securities exchange having the greatest volume of trading in the Common Stock during the thirty-day period preceding the day the value is to be determined or, if such
exchange was not open for trading on such date, the next preceding date on which it was open; (ii) if the Common Stock is not traded on an established securities market (as defined in Section 1.897-1(m) of the Treasury Regulations), the
fair market value as determined in good faith by the Board of the Committee by application of a reasonable valuation method consistently applied and taking into consideration all available information material to the value of the company; factors to
be considered may include, as applicable, the value of tangible and intangible assets of the Company, the present value of future cash-flows of the Company, the 

  
 5 

 
market value of stock or equity interests in similar corporations which can be readily determined through objective means (such as through trading prices on an established securities market or an
amount paid in an arm’s length private transaction), and other relevant factors such as control premiums or discounts for lack of marketability. For purposes of the foregoing sentence, a valuation prepared in accordance with any of the methods
set forth in Section 1.409A-1(b)(5)(iv)(B)(2) of the Treasury Regulations, consistently used, shall rebuttably be presumed to result in a reasonable valuation. This paragraph is intended to comply with the definition of “fair market
value” contained in Section 1.409A-1(b)(5)(iv) of the Treasury Regulations, and should be interpreted consistently therewith. 
 7. Option Duration. Subject to earlier termination as provided in Sections 9 and 10, each Option shall expire on the date specified by the Board or Committee, but not more than: 

(a) 10 years from the date of grant in the case of NSOs; 
 (b) 10 years from the date of grant in the case of ISOs generally; and 
 (c) five
years from the date of grant in the case of ISOs granted to an employee owning stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any Related Corporation. 

Subject to earlier termination as provided in Sections 9 and 10, the term of each ISO shall be the term set forth in the original
instrument granting such ISO, except with respect to any part of such ISO that is converted into an NSO pursuant to Section 17. 
 8. Exercise of Options. Subject to the provisions of Section 9 through Section 12 of the Plan, each Option granted under the Plan shall be exercisable as follows: 

(a) the Option shall either be fully exercisable on the date of grant or shall become exercisable thereafter in such installments as the
Board or Committee may specify; 
 (b) once an installment becomes exercisable it shall remain exercisable until expiration or
termination of the Option, unless otherwise specified by the Board or Committee; 
 (c) each Option or installment may be
exercised at any time or from time to time, in whole or in part, for up to the total number of shares with respect to which it is then exercisable; and 
 (d) the Board or Committee shall have the right to accelerate the date of exercise of any installment of any Option, provided that the Board or Committee shall not accelerate the exercise date of any
installment of any ISO granted to any employee (and not previously converted into an NSO pursuant to Section 17) without the prior consent of such employee if such acceleration would violate the annual vesting limitation contained in
Section 422 of the Code, as described in Section 6(c). 

  
 6 

 Notwithstanding anything to the contrary in this Agreement, any Option
with an exercise price less than the Fair Market Value of Common Stock on the date of grant of such Option must be exercised no later than March 15th of the year following the calendar year in which the Option vests. 

9. Termination of Employment. If a grantee ceases to be employed by the Company and all Related Corporations other than by reason
of death or disability as defined in Section 10, unless otherwise specified in the instrument granting such Stock Right, the grantee shall have the continued right to exercise any Stock Right held by him or her, to the extent of the number of
shares with respect to which he or she could have exercised it on the date of termination until the Stock Right’s specified expiration date; provided, however, in the event the grantee exercises any ISO after the date that is
three months following the date of termination of employment, such ISO will automatically be converted into an NSO subject to the terms of the Plan. Employment shall be considered as continuing uninterrupted during any bona fide leave of absence
(such as those attributable to illness, military obligations or governmental service) provided that the period of such leave does not exceed 90 days or, if longer, any period during which such grantee’s right to reemployment with the Company is
guaranteed by statute or by contract. A bona fide leave of absence with the written approval of the Company shall not be considered an interruption of employment under the Plan, provided that such written approval contractually
obligates the Company or any Related Corporation to continue the employment of the grantee after the approved period of absence; and provided that the foregoing approval requirement shall not apply to a leave of absence guaranteed by
statute or contract. ISOs granted under the Plan shall not be affected by any change of employment within or among the Company and Related Corporations, so long as the optionee continues to be an employee of the Company or any Related Corporation.

 For purposes of this Plan, a change in status from employee to a consultant, or from a consultant to employee, will not
constitute a termination of employment, provided that a change in status from an employee to consultant may cause an ISO to become an NSO under the Code. 
 NOTHING IN THE PLAN SHALL BE DEEMED TO GIVE ANY GRANTEE OF ANY STOCK RIGHT THE RIGHT TO BE RETAINED IN EMPLOYMENT OR OTHER SERVICE BY THE COMPANY OR ANY RELATED CORPORATION FOR ANY PERIOD OF TIME OR TO
AFFECT THE AT-WILL NATURE OF ANY EMPLOYEE’S EMPLOYMENT. 
 10. Death; Disability. 

(a) If a grantee ceases to be employed by the Company and all Related Corporations by reason of death, or if a grantee dies within three
months of the date his or her employment or other affiliation with the Company has been terminated, any Stock Right held by him or her may be exercised to the extent of the number of shares with respect to which he or she could have exercised said
Stock Right on the date of death, by his or her estate, personal representative or beneficiary who has acquired the Stock Right by will or by the laws of descent and distribution (the “Successor Grantee”), unless otherwise
specified in the instrument granting such Stock Right, prior to the earlier of (i) one year after the date of termination or (ii) the Stock Right’s specified expiration date; provided, however, that a Successor Grantee
shall be entitled 

  
 7 

 
to ISO treatment under Section 421 of the Code only if the deceased optionee would have been entitled to like treatment had he or she exercised such Option on the date of his or her death;
and provided further in the event the Successor Grantee exercises an ISO after the date that is one year following the date of termination by reason of death, such ISO will automatically be converted into a NSO subject to the terms of
the Plan. 
 (b) If a grantee ceases to be employed by the Company and all Related Corporations by reason of disability, he or
she shall continue to have the right to exercise any Stock Right held by him or her on the date of termination until, unless otherwise specified in the instrument granting such Stock Right, the earlier of (i) one year after the date of
termination or (ii) the Stock Right’s specified expiration date; provided, however, in the event the grantee exercises an ISO after the date that is one year following the date of termination by reason of disability, such ISO
will automatically be converted into a NSO subject to the terms of the Plan. For the purposes of the Plan, the term “disability” shall mean “permanent and total disability” as defined in Section 22(e)(3) of the Code.

 (c) The provisions of subsections (a) and (b) of this Section 10 regarding the exercise period of a Stock
Right may be waived, extended or further limited, in the discretion of the Board or Committee, in an instrument granting a Stock Right that is not an ISO. 
 11. Transferability and Assignability of Stock Rights. 
 (a) Unless
approved by the Committee, no ISO granted under this Plan shall be assignable or otherwise transferable by the optionee except by will or by the laws of descent and distribution. An ISO may be exercised during the lifetime of the optionee only by
the optionee. 
 (b) Unless approved by the Committee, no NSO, Purchase Right or SAR may be transferable by the grantee except
(i) to the grantee’s family members or (ii) by will or by the laws of descent and distribution or pursuant to a qualified domestic relations order as defined in the Code or Title I of the Employee Retirement Income Security Act, or
the rules thereunder. For purposes of the Plan, a grantee’s “family members” shall be deemed to consist of his or her spouse, parents, children, grandparents, grandchildren and any trusts created for the benefit of such individuals. A
family member to whom any such Stock Right has been transferred pursuant to this Section 11(b) shall be hereinafter referred to as a “Permitted Transferee”. A Stock Right shall be transferred to a Permitted Transferee in
accordance with the foregoing provisions, and subject to all the provisions of the Stock Right Agreement and this Plan, by the execution by the grantee and the transferee of an assignment in writing in such form approved by the Board or the
Committee. The Company shall not be required to recognize the rights of a Permitted Transferee until such time as it receives a copy of the assignment from the grantee. 
 12. Terms and Conditions of Stock Rights. Stock Rights shall be evidenced by instruments (which need not be identical) in such forms as the Board or Committee may from time to time approve. Such
instruments shall conform to the terms and conditions set forth in Sections 6 through 11 and Section 15 hereof and may contain such other provisions as the Board or Committee deems advisable that are not inconsistent with the Plan, including
restrictions (or 

  
 8 

 
other conditions deemed by the Board or Committee to be in the best interests of the Company) applicable to the exercise of Options or to shares of Common Stock issuable upon exercise of Options.
In granting any NSO, the Board or Committee may specify that such NSO shall be subject to the restrictions set forth herein with respect to ISOs, or to such other termination and cancellation provisions as the Board or Committee may determine. The
Board or Committee may from time to time confer authority and responsibility on one or more of its own members and/or one or more officers of the Company to execute and deliver such instruments. The proper officers of the Company are authorized and
directed to take any and all action necessary or advisable from time to time to carry out the terms of such instruments. 
 13.
Adjustments. Upon the occurrence of any of the following events, the rights of a recipient of a Stock Right granted hereunder shall be adjusted as hereinafter provided, unless otherwise provided in the written agreement between the recipient
and the Company relating to such Stock Right. 
 (a) If the shares of Common Stock shall be subdivided or combined into a
greater or smaller number of shares or if the Company shall issue shares of Common Stock as a stock dividend on its outstanding Common Stock, the number of shares of Common Stock deliverable upon the exercise of outstanding Stock Rights shall be
appropriately increased or decreased proportionately, and appropriate adjustments shall be made in the purchase price (if any) per share to reflect such subdivision, combination or stock dividend. 

(b) If the Company is to be consolidated with or acquired by another entity in a merger, sale of all or substantially all of the
Company’s assets or otherwise (an “Acquisition”), unless otherwise provided by the Board or Committee, in its sole discretion, the Board or Committee or the board of directors of any entity assuming the obligations of
the Company hereunder (the “Successor Board”) shall, as to outstanding Stock Rights, make appropriate provision for the continuation of such Stock Rights by either assumption of such Stock Rights or by substitution of such
Stock Rights with an equivalent award. For Stock Rights that are so assumed or substituted, in the event of a termination of grantee’s employment or consulting relationship by the Company or its successor other than For Cause (as defined below)
or by grantee for Good Reason (as defined below) within 60 days prior to and 180 days after an Acquisition, all Stock Rights held by such grantee shall become vested and immediately and fully exercisable and all forfeiture restrictions shall be
waived. If the Board, the Committee, or the Successor Board does not make appropriate provisions for the continuation of such Stock Rights by either assumption or substitution, unless otherwise provided by the Board or Committee in its sole
discretion, Stock Rights shall become vested and fully and immediately exercisable and all forfeiture restrictions shall be waived and all Stock Rights not exercised at the time of the closing of such Acquisition shall terminate notwithstanding
anything to the contrary in Section 9 hereof. 
 For purposes of this Plan, “For Cause” shall mean
the termination of a grantee’s status as an employee, a director or consultant (as applicable) for any of the following reasons, as determined by the Committee in its sole discretion; provided, that, with respect to an employee that is party to
an agreement with the Company where a termination for cause is defined in such agreement, the definition in such agreement shall govern the determination under this Section 13: 

  
 9 

 
(i) a grantee who is a consultant and who commits a material breach of any consulting, noncompetition, confidentiality or similar agreement with the Company or a subsidiary, as determined under
such agreement; (ii) a grantee who is an employee or a consultant and who is convicted (including a trial, plea of guilty or plea of nolo contendere) for committing an act of fraud, embezzlement, theft, or other act constituting a felony;
(iii) a grantee who is an employee or a consultant and who willfully engages in gross misconduct or willfully violates a Company or a subsidiary policy in any material respect; or (iv) a grantee who is a Company employee and who commits a
material breach of any noncompetition, confidentiality or similar agreement with the Company or a subsidiary, as determined under such agreement. 
 For purposes of this Plan, a termination for “Good Reason” shall mean the resignation of an employee within 30 days after the following actions: (i) without the express
written consent of employee, the Company assigns duties which are materially inconsistent with employee’s position, duties and status; (ii) any action by the Company which results in a material diminution in the position, duties or status
of employee or any transfer or proposed transfer of employee for any extended period to a location more than 35 miles away from such employees’ principal place of employment, except for a transfer or proposed transfer for strategic
reallocations of the personnel reporting to employee; or (iii) the Company reduces the base annual salary of employee, as the same may hereafter be increased from time to time. 

(c) In the event of a transaction, including without limitation, a recapitalization or reorganization of the Company (other than a
transaction described in subsection (b) above) pursuant to which securities of the Company or of another corporation are issued with respect to the outstanding shares of Common Stock, an optionee or grantee upon exercising an a Stock Right
shall be entitled to receive for the purchase price paid upon such exercise the securities he or she would have received if he or she had exercised the Stock Right immediately prior to such recapitalization or reorganization. 

(d) In the event of the proposed dissolution or liquidation of the Company, each Stock Right will terminate immediately prior to the
consummation of such proposed action or at such other time and subject to such other conditions as shall be determined by the Board or Committee. 
 (e) Except as expressly provided herein, no issuance by the Company 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 subject to Stock Right. No adjustments shall be made for dividends paid in cash or in property other than Common Stock of the Company. 

(f) No fractional shares shall be issued under the Plan and any optionee who would otherwise be entitled to receive a fraction of a share
upon exercise of a Stock Right shall receive from the Company cash in lieu of such fractional shares in an amount equal to the Fair Market Value of such fractional shares, as determined in the sole discretion of the Board or Committee. 

  
 10 

 (g) Upon the happening of any of the foregoing events described in subsections (a),
(b) or (c) above, the class and aggregate number of shares set forth in Section 4 hereof that are subject to Stock Rights that previously have been or subsequently may be granted under the Plan shall also be appropriately adjusted to
reflect the events described. The Board or Committee or the Successor Board shall determine the specific adjustments to be made under this Section 13 and, subject to Section 2, its determination shall be conclusive. 

14. Means of Exercising Stock Rights. 
 (a) Except as otherwise provided in this Plan or the instrument evidencing the Stock Right, a Stock Right (or any part or installment thereof) shall be exercised by giving written notice to the Company at
its principal office address to the attention of its President. Such notice shall identify the Stock Right being exercised and specify the number of shares as to which such Stock Right is being exercised, accompanied by full payment of the exercise
price therefor, if any, payable as follows (a) in United States dollars in cash or by check, (b) at the discretion of the Board or Committee, by delivery of the grantee’s personal recourse note bearing interest payable not less than
annually at a market rate that is no less than 100% of the lowest applicable Federal rate, as defined in Section 1274(d) of the Code, (c) at the discretion of the Board or Committee, through the surrender of shares of Common Stock then
issuable upon exercise of the Stock Right having a Fair Market Value on the date of exercise equal to the aggregate exercise price of the Stock Right and/or any related withholding tax obligations, (d) at the discretion of the Board or the
Committee, through the delivery of already-owned shares of Common Stock having a Fair Market Value on the date of exercise equal to the aggregate exercise price of the Stock Right and/or any related withholding tax obligations, (e) at the
discretion of the Board or Committee, delivery of a notice that the grantee has placed a market sell order with a broker with respect to shares of Common Stock then issuable upon exercise of the Stock Right and that the broker has been directed to
pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Stock Right exercise price, provided that payment of such proceeds is then made to the Company upon settlement of the sale, or (f) at the discretion
of the Board or Committee, by any combination of (a), (b, (c), (d) or (e), or such other consideration and method of payment for the issuance of shares to the extent permitted by applicable law or the Plan. If the Board or Committee exercises
its discretion to permit payment of the exercise price of an ISO by means of the methods set forth in clauses (b), (c), (d), (e) or (f) of the preceding sentence, the term of exercise shall be evidenced by the terms set forth in the
written agreement evidencing the grant of the Stock Right. The shares of Common Stock delivered by a grantee pursuant to clause (d) above must have been held by grantee for a period of not less than one year prior to the exercise of the Stock
Right, unless otherwise determined by the Board or the Committee. The holder of a Stock Right shall not have the rights of a stockholder with respect to the shares covered by the Stock Right until the date of issuance of a stock certificate for such
shares. Except as expressly provided above in Section 13 with respect to changes in capitalization and stock dividends, no adjustment shall be made for dividends or similar rights for which the record date is before the date such stock
certificate is issued. 
 (b) The Company shall not be required to issue or deliver any certificate for shares of Common Stock
issued upon the exercise of any Stock Right granted hereunder or any portion thereof, prior to fulfillment of all of the following conditions: 

  
 11 

 (i) the admission of such shares to listing on all stock exchanges on which the Common
Stock is listed, if any; 
 (ii) the completion of any registration or other qualification of such shares which the Board or
Committee shall deem necessary or advisable under any federal or state law or under the rulings or regulations of the United States Securities and Exchange Commission (the “SEC”) or any other governmental regulatory body, or
the determination by the Company, with the advice of legal counsel, that exemptions are available from such registration and qualification; 
 (iii) the obtaining of any approval or other clearance from any federal or state governmental agency or body which the Board or Committee shall determine to be necessary or advisable; and 

(iv) the lapse of such reasonable period of time following the exercise of the Option as the Board or Committee from time to time may
establish for reasons of administrative convenience. 
 Stock certificates issued and delivered to grantees shall bear such
restrictive legends as the Company shall deem necessary or advisable pursuant to applicable federal and state securities laws. The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be
necessary to the lawful issuance and sale of any Common Stock pursuant to Stock Rights shall relieve the Company of any liability whit respect to the non-issuance or sale of the Common Stock as to which such approval shall not have been obtained.
The Company shall, however, use its commercially reasonable efforts to obtain all such approvals. 
 15. Stock Appreciation
Rights. An SAR may be granted (a) with respect to any Option granted under this Plan, either concurrently with the grant of such Option or at such later time as determined by the Committee (as to all or any portion of the shares of Common
Stock subject to the Option), or (b) alone, without reference to any related Option. Each SAR granted by the Committee under this Plan shall be subject to the following terms and conditions. Each SAR granted to any participant shall relate to
such number of shares of Common Stock as shall be determined by the Committee, subject to adjustment as provided in Section 13. In the case of an SAR granted with respect to an Option, the number of shares of Common Stock to which the SAR
pertains shall be reduced in the same proportion that the holder of the Option exercises the related Option. The exercise price of an SAR will be determined by the Committee, in its discretion, at the date of grant but may not be less than 100% of
the Fair Market Value of the shares of Common Stock subject thereto on the date of grant. Subject to the right of the Committee to deliver cash in lieu of shares of Common Stock (which, as it pertains to officers and directors of the Company, shall
comply with all requirements of the Exchange Act), the number of shares of Common Stock which shall be issuable upon the exercise of an SAR shall be determined by dividing: 

  
 12 

 (a) the number of shares of Common Stock as to which the SAR is exercised multiplied by the
amount of the appreciation in such shares (for this purpose, the “appreciation” shall be the amount by which the Fair Market Value of the shares of Common Stock subject to the SAR on the exercise date exceeds (1) in the case of an SAR
related to an Option, the exercise price of the shares of Common Stock under the Option or (2) in the case of an SAR granted alone, without reference to a related Option, an amount which shall be determined by the Committee at the time of
grant, subject to adjustment under Section 13); by 
 (b) the Fair Market Value of a share of Common Stock on the exercise
date. 
 In lieu of issuing shares of Common Stock upon the exercise of a SAR, the Committee may elect to pay the holder of the SAR cash equal
to the Fair Market Value on the exercise date of any or all of the shares which would otherwise be issuable. No fractional shares of Common Stock shall be issued upon the exercise of an SAR; instead, the holder of the SAR shall be entitled to
receive a cash adjustment equal to the same fraction of the Fair Market Value of a share of Common Stock on the exercise date or to purchase the portion necessary to make a whole share at its Fair Market Value on the date of exercise. The exercise
of an SAR related to an Option shall be permitted only to the extent that the Option is exercisable under Section 8 on the date of surrender. Any ISO surrendered pursuant to the provisions of this Section 15 shall be deemed to have been
converted into a NSO immediately prior to such surrender. 
 16. Term and Amendment of Plan. This Plan was adopted by the
Board in December 2011 (the “Effective Date”), subject (with respect to the validation of ISOs granted under the Plan) to approval of the Plan by the stockholders of the Company. The Plan will be approved by the stockholders
of the Company within one year of the Effective Date. The Plan shall expire 10 years after the Effective Date (except as to Stock Rights outstanding on that date). Subject to the provisions of Section 5 above, Stock Rights may be granted under
the Plan prior to the date of stockholder approval of the Plan. The Board may terminate or amend the Plan in any respect at any time, subject to any approvals required under Applicable Laws or any securities exchange listing requirements; except
that without the approval of the stockholders obtained within 12 months before or after the Board adopts a resolution authorizing any of the following actions: 
 (a) the total number of shares that may be issued under the Plan may not be increased (except by adjustment pursuant to Section 13); 

(b) the provisions of Section 3 regarding eligibility for grants of ISOs may not be modified; 

(c) the provisions of Section 6(b) regarding the exercise price at which shares may be offered pursuant to ISOs may not be modified
(except by adjustment pursuant to Section 13); and 
 (d) the expiration date of the Plan may not be extended. 

  
 13 

 Except as provided in Section 13(b) and the fifth sentence of this Section 16, in
no event may action of the Board or stockholders adversely alter or impair the rights of a grantee, without his or her consent, under any Stock Right previously granted. 
 17. Conversion of ISOs into NSOs; Termination of ISOs. The Board or Committee, with the consent of any optionee, may in its discretion take such actions as may be necessary to convert an
optionee’s ISOs (or any installments or portions of installments thereof) that have not been exercised on the date of conversion into NSOs at any time prior to the expiration of such ISOs. These actions may include, but not be limited to,
accelerating the exercisability, extending the exercise period or reducing the exercise price of the appropriate installments of optionee’s Options. At the time of such conversion, the Board or Committee (with the consent of the optionee) may
impose these conditions on the exercise of the resulting NSOs as the Board or Committee in its discretion may determine, provided that the conditions shall not be inconsistent with the Plan. Nothing in the Plan shall be deemed to give any optionee
the right to have such optionee’s ISOs converted into NSOs, and no conversion shall occur until and unless the Board or Committee takes appropriate action. The Board or Committee, with the consent of the optionee, may also terminate any portion
of any ISO that has not been exercised at the time of termination. 
 18. Governmental Regulation. The Company’s
obligation to sell and deliver shares of the Common Stock under the Plan is subject to the approval of any governmental authority required in connection with the authorization, issuance or sale of such shares. 

19. Withholding of Additional Income Taxes. 
 (a) Upon the exercise of an NSO or SAR, the grant of a Stock Bonus or Purchase Right for less than the Fair Market Value of the Common Stock, the making of a Disqualifying Disposition (as defined in
Section 20), or the vesting of restricted Common Stock acquired on the exercise of a Stock Right hereunder, the Company, in accordance with Section 3402(a) of the Code and any applicable state statute or regulation, may require the
optionee, Stock Bonus or SAR recipient or purchaser to pay to the Company additional withholding taxes in respect of the amount that is considered compensation includable in such person’s gross income. With respect to (a) the exercise of
an Option, (b) the grant of a Stock Bonus, (c) the grant of a Purchase Right of Common Stock for less than its Fair Market Value, (d) the vesting of restricted Common Stock acquired by exercising a Stock Right, or (e) the
exercise of an SAR, the Committee in its discretion may condition such event on the payment by the optionee, Stock Bonus recipient or purchaser of any such additional withholding taxes. 

(b) At the sole and absolute discretion of the Committee, the holder of Stock Rights may pay all or any part of the total estimated
federal and state income tax liability arising out of the exercise or receipt of such Stock Rights, the making of a Disqualifying Disposition, or the vesting of restricted Common Stock acquired on the exercise of a Stock Right hereunder (each of the
foregoing, a “Tax Event”) by tendering already-owned shares of Common Stock or (except in the case of a Disqualifying Disposition) by directing the Company to withhold shares of Common Stock otherwise to be transferred to the
holder of such Stock Rights as a result of the exercise or receipt thereof in an amount equal to the estimated federal and state income tax 

  
 14 

 
liability arising out of such event, provided that no more shares may be withheld than are necessary to satisfy the holder’s actual minimum withholding obligation with respect to the
exercise of Stock Rights. In such event, the holder of Stock Rights must, however, notify the Committee of his or her desire to pay all or any part of the total estimated federal and state income tax liability arising out of a Tax Event by tendering
already-owned shares of Common Stock or having shares of Common Stock withheld prior to the date that the amount of federal or state income tax to be withheld is to be determined. For purposes of this Section 19(b), shares of Common Stock shall
be valued at their Fair Market Value on the date that the amount of the tax withholdings is to be determined. 
 20. Notice
to Company of Disqualifying Disposition. Each employee who receives an ISO must agree to notify the Company in writing immediately after the employee makes a Disqualifying Disposition (as defined below) of any Common Stock acquired pursuant to
the exercise of an ISO. A “Disqualifying Disposition” is any disposition (including any sale) of such Common Stock before either (a) two years after the date the employee was granted the ISO, or (b) one year after
the date the employee acquired Common Stock by exercising the ISO. If the employee has died before such stock is sold, these holding period requirements do not apply and no Disqualifying Disposition can occur thereafter. 

21. Electronic Delivery. The Board may, in its sole discretion, decide to deliver any documents related to any Stock Rights
granted under the Plan through an online or electronic system established and maintained by the Company or another third party designated by the Company or to request a recipient’s consent to participate in the Plan by electronic means. Each
recipient of securities hereunder consents to receive such documents by electronic delivery and agrees to participate in the Plan through an online or electronic system established and maintained by the Company or another third party designated by
the Company, and such consent shall remain in effect throughout recipient’s term of employment or service with the Company and thereafter until withdrawn in writing by recipient. 

22. Data Privacy. The Board may, in its sole discretion, decide to collect, use and transfer, in electronic or other form,
personal data as described in this Plan or any Stock Right for the exclusive purpose of implementing, administering and managing participation in the Plan. Each recipient of securities hereunder acknowledges that the Company holds certain personal
information about the recipient, including, but not limited to, name, home address and telephone number, date of birth, social security number or other identification number, salary, nationality, job title, details of all Stock Rights awarded,
cancelled, exercised, vested or unvested, for the purpose of implementing, administering and managing the Plan (the “Data”). Each recipient of securities hereunder further acknowledges that Data may be transferred to any
third parties assisting in the implementation, administration and management of the Plan and that these third parties may be located in jurisdictions that may have different data privacy laws and protections, and recipient authorizes such third
parties to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Plan, including any requisite transfer of such Data as may be required to a broker or other
third party with whom the recipient or the Company may elect to deposit any shares of Common Stock acquired upon any Stock Right. 

  
 15 

 23. Governing Law; Construction. The validity and construction of the Plan and the
instruments evidencing Stock Rights shall be governed by the laws of the State of South Carolina. In construing this Plan, the singular shall include the plural and the masculine gender shall include the feminine and neuter, unless the context
otherwise requires. 
 24. Lock-up Agreement. Each recipient of securities hereunder agrees, in connection with the first
registration with the United States Securities and Exchange Commission under the Securities Act of 1933, as amended, of the public sale of the Company’s Common Stock, not to sell, make any short sale of, loan, grant any option for the purchase
of or otherwise dispose of any securities of the Company (other than those included in the registration) without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed 180 days) from
the effective date of such registration as the Company or the underwriters, as the case may be, shall specify. Each such recipient agrees that the Company may instruct its transfer agent to place stop-transfer notations in its records to enforce
this Section 22. Each such recipient agrees to execute a form of agreement reflecting the foregoing restrictions as requested by the underwriters managing such offering. 

  
 16

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