Document:

exv10w47

Exhibit 10.47

December 21, 2010

Mark A. Wilhelm

Safety National Casualty Corporation

1832 Schuetz Road

St. Louis, Missouri 63146

Re: Second Amendment to Stock Option Award Agreement

Dear Mark:

     This will confirm that, pursuant to action taken on the date hereof by the Compensation
Committee (the “Committee”) of the Board of Directors of Delphi Financial Group, Inc. (“Delphi”),
the Stock Option Award Agreement dated February 21, 2008, as amended by the Amendment thereto dated
December 19, 2008 (the “Award Agreement”), pursuant to which you were granted options to purchase
up to 225,000 shares of Delphi’s Class A Common Stock pursuant to Delphi’s 2003 Employee Long-Term
Incentive and Share Award Plan (the “Plan”), has been further amended as provided herein.
Capitalized terms used but not defined herein shall have the respective meanings set forth in the
Award Agreement.

     Specifically, the first paragraph of the Special Adjustment Provisions contained in Exhibit A
to the Award Agreement, which relates to the calculation of investment income for purposes of
determining Pre-Tax Operating Income, has been deleted in its entirety and replaced with the
following:

“Investment income: In lieu of actual investment income, for each of the 2008,
2009, 2010, 2011 and 2012 years, investment income shall be based on the average amount of
Investable Assets (as defined below) for such year, which shall be calculated as (a)
one-half of the sum of the beginning-of-year and end-of-year Investable Assets balances, in
both cases as adjusted pursuant to the following two paragraphs, multiplied by (b) the
crediting rate of 6.38% per annum. “Investable Assets” shall include cash, investments,
other investable balances (which shall be deemed to include real estate held for investment
purposes) and balances due from affiliates, and fixed maturity investments will be included
at amortized cost to

 

 

Mark A. Wilhelm

December 21, 2010

Page 2

eliminate any effects of classification for SFAS 115 purposes. The
average amount of Investable Assets, as so determined, will be (1) increased or decreased,
as applicable, to eliminate the effect of any Excluded Item (other than any such item
involving a realized investment gain or loss), (2) increased (decreased) by the amount of
dividends in excess of (lesser than) $2,000,000, (3) decreased by the amount of the
consideration paid (regardless of the form thereof) in connection with the acquisition of
any Acquired Entity as described above and (4) decreased for any capital contributed by
Delphi. For the avoidance of doubt, the adjustments for which the preceding sentence
provides shall apply with respect to the year in which the applicable event giving rise to
the adjustment occurs and shall also be applied in subsequent years so as to reflect the
continuing effects of such event.

For each year, the end-of-year Investable Assets balance shall be (i) decreased by the
amount of any realized investment gains recognized during such year, net of any current
federal income tax expenses resulting from the recognition of such gains, and (ii) increased
by the amount of any realized investment losses recognized during such year, net of any
current federal income tax benefits resulting from the recognition of such losses. All
determinations and calculations regarding tax expenses and benefits pursuant to the
preceding sentence shall be made by Delphi.

For each year (other than the 2008 year), the beginning-of-year Investable Assets balance
for such year shall be deemed to be equal to the end-of-year Investable Assets balance for
the preceding year, taking into account any adjustments thereto made pursuant to the
preceding paragraph.”

     Except as provided above, the Award Agreement shall remain in full force and effect according
to its terms.

     If you are in agreement with and consent to the terms and conditions of this Second Amendment,
please confirm such agreement and consent by executing both counterparts of this

 

 

Mark A. Wilhelm

December 21, 2010

Page 3

Second Amendment
and returning one fully executed counterpart to me. The other counterpart should be retained for
your files.

	 	 	 	 	 	 	 

	 

	 	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	/s/ CHAD W. COULTER
 

Chad W. Coulter
	 	 
	 

	 	 	 	Senior Vice President, Secretary	 	 
	 

	 	 	 	and General Counsel	 	 
	 
	 	 	 	 	 	 
	Agreed to and consented:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	/s/ MARK A. WILHELM
 

Mark A. WilhelmExhibit 10.41

Exhibit 10.41

Amendment to the KB Home 2010 Equity Incentive Plan

At KB Home’s 2011 Annual Meeting of Stockholders, held on April 7, 2011, KB Home’s stockholders
approved an amendment to the first sentence of Section 3.1(a) of the KB Home 2010 Equity
Incentive Plan (the “Plan”) that replaced the words “Three Million Five Hundred Thousand
(3,500,000)” with the words “Seven Million Five Hundred Thousand (7,500,000).” As a result, the
first sentence of Section 3.1(a) of the Plan is now as follows:

“3.1 Number of Shares.

(a) Subject to adjustment as provided in Section 3.1(b) and Section 13.2, a total of Seven
Million Five Hundred Thousand (7,500,000) Shares shall be authorized for grant under the Plan.”

Except for the above amendment, no other changes were made to the Plan.Exhibit 10.42

Exhibit 10.42

Executive Severance Benefit Decisions

On April 7, 2011, on the recommendation of KB Home management, the Management Development and
Compensation Committee (the “Committee”) of KB Home’s Board of Directors determined that the
provisions of the Policy Regarding Stockholder Approval of Certain Severance Payments (the
“Policy”) apply to (i) Jeff J. Kaminski, KB Home’s Executive Vice President and Chief Financial
Officer, and to Brian J. Woram, KB Home’s Executive Vice President, General Counsel and
Secretary, and (ii) to executive officers hired after the July 10, 2008 adoption of the Policy
who are eligible for change in control benefits, whether by employment agreement, corporate
policy or corporate benefit. In addition, on the recommendation of the Committee, the Board of
Directors determined that each of Messrs. Kaminski and Woram are and will continue to be Group A
Participants under KB Home’s Change in Control Severance Plan (the “Plan”), but that they will
not be entitled to or eligible to receive a Gross-Up Payment (as that term is defined in the
Plan) to cover certain taxes that may apply to payments made under the Plan in certain
circumstances. Each of Messrs. Kaminski and Woram agree with and accept the foregoing
determinations and each has agreed to be bound by them. Neither of Messrs. Kaminski and Woram
received or returned any Gross-Up Payment or other amounts in connection with these
determinations.exv10w13

EXHIBIT 10.13

THE MONSANTO COMPANY

NON-EMPLOYEE DIRECTOR EQUITY INCENTIVE COMPENSATION PLAN

(As Amended And Restated Effective September 1, 2011)

     1. NAME OF PLAN; PLAN DOCUMENT. This plan shall be known as the “The Monsanto Company
Non-Employee Director Equity Incentive Compensation Plan” and is hereinafter referred to as the
“Plan.” The Plan document consists of this document and the Procedures (as defined below)
established from time to time as contemplated hereby.

     2. PURPOSES OF PLAN. The purposes of the Plan are to enable Monsanto Company, a Delaware
corporation (the “Company”), to retain qualified persons to serve as Directors by providing for
their compensation and permitting them to elect to defer a portion thereof, and to further align
the interests of Directors with the interests of shareholders of the Company by providing them with
equity-based compensation.

     3. EFFECTIVE DATE AND TERM. The Plan was established by the Board, effective as of September
20, 2000 (the “Effective Date”), subsequently amended by the Board effective as of September 19,
2002, December 3, 2003, and May 1, 2005, and further amended and restated as of September 1, 2007.
The Plan was again amended and restated effective as of September 1, 2011, which amendment and
restatement shall govern all compensation earned hereunder on and after September 1, 2011 (with the
applicable pre-amendment versions of the Plan to govern compensation earned prior to September 1,
2011). The Plan shall remain in effect until terminated by action of the Board, or until all
Participants have received all amounts to which they are entitled hereunder, if earlier.

     4. DEFINITIONS. The following terms shall have the meanings set forth below:

     “Additional Retainer” means any additional retainer to which a Director is entitled under this
Plan for service in a specified position, as set forth in Section 6(a).

     “Annual Additional Retainer Amount” means the annualized value of the Additional Retainer to
which a Director is entitled under this Plan as of any particular time.

     “Annual Basic Retainer Amount” means the annualized value of the Basic Retainer to which a
Director is entitled under this Plan as of any particular time.

     “Annual Meeting” means an annual meeting of the shareholders of the Company.

     “Annual Retainer Amount” means the annualized value of the Retainer to which a Director is
entitled under this Plan as of any particular time.

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     “Basic Retainer” means the retainer to which each Director is entitled under this Plan for
service on the Board, as set forth in Section 6(a).

     “Beneficiaries” has the meaning set forth in Section 7(b)(iii).

     “Beneficiary Designation” has the meaning set forth in Section 7(b)(iii).

     “Board” means the Board of Directors of the Company.

     “Cash Account” has the meaning set forth in Section 7(a).

     “Chairman” means the Chairman of the Board.

     “Committee” means the People and Compensation Committee of the Board.

     “Common Stock” means the Company’s common stock, par value $0.01 per share.

     The “Company” means Monsanto Company, a Delaware corporation.

     “Crediting Date” has the meaning set forth in Section 6(c)(iii).

     “Current Cash” has the meaning set forth in Section 6(a).

     “Deferral Account” means a bookkeeping account maintained by the Company for a Director
representing the Director’s interest in the stock units or cash credited to such account pursuant
to Sections 6 and 7.

     “Deferred Cash” has the meaning set forth in Section 6(a).

     “Deferred Stock” means shares of Common Stock credited to a Stock Unit Account pursuant to
Section 6(c)(ii) and Section 7 and later delivered pursuant to Section 7.

     “Delivery Election” has the meaning set forth in Section 7(b)(i).

     “Delivery Starting Date” has the meaning set forth in the Procedures.

     “Director” means an individual who is a non-employee member of the Board.

     The “Dividend Equivalent” for a given dividend or distribution means a number of shares (or
fractions of a share) of Common Stock having a Value, as of the date such Dividend

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Equivalent is credited to a Stock Unit Account, equal to the amount of cash, plus the fair market
value on the date of distribution of any property, that is distributed with respect to one share of
Common Stock pursuant to such dividend or distribution; such fair market value to be determined by
the Committee in good faith.

     “Elective Amount” has the meaning set forth in Section 6(a).

     “Exchange Act” means the Securities Exchange Act of 1934.

     The “Initial Participation Date” for a Participant means the first day on which he or she
became a Participant.

     The “Interest Rate” for a calendar year means the average Moody’s Baa Bond Index Rate, as in
effect from time to time.

     “Long-Term Incentive Plan” means the Monsanto Company Long-Term Incentive Plan or the Monsanto
Company 2005 Long-Term Incentive Plan.

     “Month” means a calendar month.

     “Participant” has the meaning set forth in Section 5.

     “Periodic Election” has the meaning set forth in Section 6(a).

     “Plan” has the meaning set forth in Section 1.

     “Plan Year” means each period that begins on a September 1 and ends on the following August
31.

     “Procedures” means the rules established by the Committee relating to Periodic Elections,
Delivery Elections and other compensation payable hereunder that is subject to Section 409A, as
more fully described in Section 12.

     “Required Deferred Stock Amount” has the meaning set forth in Section 6(a).

     “Restricted Stock” means shares of Common Stock granted in accordance with Section 6(c)(ii).

     “Retainer” means the sum of the Basic Retainer and any Additional Retainer to which a Director
is entitled under this Plan.

     “Section” means a section of the Plan except where otherwise specifically indicated.

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     “Section 409A” means Section 409A of the Internal Revenue Code of 1986, as amended, and the
regulations promulgated thereunder.

     “Stock Unit Account” has the meaning set forth in Section 7(a).

     “Term” means the term of years for which a Participant has been elected a Director.

     The “Termination Date” for a Participant is the date of the Participant’s “separation from
service” within the meaning of Section 409A.

     The “Value” of a share of Common Stock shall mean, with respect to any given date, the closing
per-share sales prices for the shares of Common Stock during normal business hours on the New York
Stock Exchange for that date, or if the shares of Common Stock were not traded on the New York
Stock Exchange on that date, then on the next preceding date on which the shares were traded, all
as reported by such source as the Committee may select.

     5. ELIGIBLE PARTICIPANTS. Each individual who is a Director on the Effective Date or becomes
a Director thereafter while the Plan is in effect shall be a participant (“Participant”) in the
Plan.

     6. DIRECTOR COMPENSATION. (a) GENERAL. In consideration for his or her services as a
Director, each Participant shall receive an annual value equal to the Basic Retainer plus any
Additional Retainer that may apply, in the forms provided for in this Plan. Effective as of
September 1, 2011, the Annual Basic Retainer Amount for all Directors shall be $215,000, and the
Annual Additional Retainer Amount for a Director shall be, as applicable: (i) for service as a
non-employee Chairman of the Board, $40,000; (ii) for service as the Lead Director of the Board,
$25,000; (iii) for service as the Chair of the Audit and Finance Committee of the Board, $35,000;
(iv) for service as the Chair of the People and Compensation Committee of the Board or the Chair of
the Nominating and Corporate Governance Committee of the Board, $25,000; (v) for service as the
Chair of the Sustainability and Corporate Responsibility Committee of the Board or the Chair of the
Science and Technology Committee of the Board, $20,000; and (vi) for service as a member of the
Audit and Finance Committee of the Board other than as the Chair of such committee, for service a
member of the People and Committee of the Board other than as the Chair of such committee, or for
service as a member of the Nominating and Corporate Governance Committee of the Board other than as
the Chair of such committee, $15,000, provided, however, that the Board may specify different
Annual Basic Retainer Amounts and/or different Annual Additional Retainer Amounts from time to
time. If a Director serves in more than one of the positions listed in the preceding sentence, he
or she shall receive an aggregate Additional Retainer equal to the sum of the applicable amounts
specified in the preceding sentence for each such position. Any increase or decrease in a
Director’s Annual Retainer Amount that results from a change in the Director’s position(s) shall
take effect as of the first day of the Month in which the change in position occurs, and the
Retainer actually paid or

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provided to the Director under this Plan shall be adjusted appropriately, pro-rata based upon the
number of Months in the Plan Year from and after the Month in which the change occurs.

     Retainers shall be provided as follows: (i) half of each Retainer (the “Required Deferred
Stock Amount”) shall take the form of Deferred Stock, as more fully set forth in Section 6(c); and
(ii) the other half of each Retainer (the “Elective Amount”) shall take the form of (A) cash paid
currently (“Current Cash”) or deferred cash (“Deferred Cash”), as more fully set forth in Section
6(b), or (B) Restricted Stock or additional Deferred Stock, as more fully set forth in Section
6(c), or a combination thereof.

     Each Participant shall be provided with the opportunity, in accordance with, and subject to
any limitations set forth in, the Procedures, to make elections with respect to periods during
which he or she is a Participant (a “Periodic Election”) specifying what portion of the Elective
Amount for such periods will be provided to the Participant in the form of Current Cash, Deferred
Cash, Restricted Stock and Deferred Stock. A Periodic Election or any permitted revocation thereof
or change thereto shall be made at such time or times, in such forms, and shall take effect at such
time, and for such periods, as may be specified in the Procedures. Unless and until a Periodic
Election takes effect for a Participant in accordance with the Procedures, he or she shall receive
the entire Elective Amount in the form of Current Cash.

     Each non-employee Director shall be granted shares of restricted Common Stock on the date he
or she commences service as a member of the Board, upon such terms and conditions as approved by
the Board. The number of shares of restricted Common Stock granted to the Director shall be equal
to: (i) the amount of the Annual Basic Retainer Amount in effect on the date the Director commences
service as a member of the Board; divided by (ii) the Value of a share of Common Stock on such
date.

          (b) CASH. The portion, if any, of the Elective Amount for a particular Plan Year that the
Participant elects to have paid in Current Cash shall be paid, and the portion, if any, of the
Elective Amount for a particular Plan Year that the Participant elects to have paid in Deferred
Cash shall be credited to a Cash Account maintained by the Company pursuant to Section 7 below, in
each case in substantially equal monthly installments on the last day of each Month that occurs
during the Plan Year for which it is paid or credited (as applicable), but in each case only if the
Participant remains a Director on that day. If a Participant’s Termination Date occurs other than
on the last day of a Month, the Participant shall forfeit any Current Cash and any Deferred Cash
attributable to periods following the last day of the preceding Month.

          (c) STOCK. (i) The portion, if any, of the Elective Amount that the Participant elects to
have provided in Restricted Stock shall be issued, as of the applicable Crediting Date, in the name
of the Participant in the form of a number of shares of Common Stock having a Value, as of the
applicable Crediting Date, equal to the amount of such portion. Such shares shall be forfeitable
and nontransferable, until they vest in accordance with the provisions of Section 6(c) (iv). The
Restricted Stock shall be issued to Participants in accordance with the Procedures upon such terms
and conditions as approved by the Board, and shall

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become transferable by Participants when and as it vests. Participants shall have the right to
receive any cash dividends issued with respect to shares of Restricted Stock at the same time as
other shareholders of the Company. Stock dividends issued with respect to Restricted Stock shall
be treated as additional Restricted Stock and shall be subject to the same restrictions and other
terms and conditions that apply to the Restricted Stock with respect to which such dividends are
issued.

          (ii) The Required Deferred Stock Amount for a particular Plan Year and the portion, if any, of
the Elective Amount for that Plan Year that a Participant elects to have provided in Deferred
Stock, shall be provided to the Participant by crediting as of the applicable Crediting Date, to a
Stock Unit Account maintained by the Company pursuant to Section 7, a number of stock units
representing hypothetical shares of Common Stock having a Value, as of the applicable Crediting
Date, equal to the Required Deferred Stock Amount to which the Participant is entitled and the
portion, if any, that the Participant has elected to have provided in Deferred Stock. Such
Deferred Stock shall vest as set forth in Section 6(c)(iv).

          (iii) The Deferred Stock and any Restricted Stock to be provided to a Participant for a
particular Plan Year shall be determined, the appropriate amount of Deferred Stock shall be
credited, and, if applicable, the appropriate amount of Restricted Stock shall be issued, as of the
first day of that Plan Year, based upon the Annual Retainer Amounts as in effect on that day. In
the case of an individual whose Initial Participation Date is not the first day of a Plan Year, the
Deferred Stock and any Restricted Stock to be provided to a Participant for the Plan Year that
includes the Initial Participation Date shall be determined, the appropriate amount of Deferred
Stock shall be credited, and, if applicable, the appropriate amount of Restricted Stock shall be
issued, as of the last day of the Month that includes the Initial Participation Date, based upon
the Annual Retainer Amounts as in effect on the Initial Participation Date. If the Annual Retainer
Amount of a Participant increases during a Plan Year, an additional amount of Deferred Stock and,
if applicable, Restricted Stock shall be determined, the appropriate amount of Deferred Stock shall
be credited, and, if applicable, the appropriate amount of Restricted Stock shall be issued, as of
the last day of the Month in which such increase takes effect. Each date on which Deferred Stock
is to be credited or Restricted Stock is to be issued is referred to as a “Crediting Date.” If the
Annual Retainer Amount of a Participant decreases during a Plan Year, a number of whole shares of
the Deferred Stock and, if applicable, Restricted Stock previously issued or credited to that
Participant during that Plan Year shall be forfeited, to reflect as nearly as possible the
resulting decrease in the aggregate Retainer to which the Participant will in fact be entitled for
that Plan Year.

          (iv) The Deferred Stock and any Restricted Stock provided to a Participant as of the first day
of a particular Plan Year shall vest in substantially equal monthly installments on the last day of
each Month during the Plan Year for which they were granted, pro-rata based upon the percentage of
the Plan Year that is attributable to such Month, and any Deferred Stock and Restricted Stock
provided to a Participant as of any other Crediting Date shall vest in substantially equal monthly
installments on the last day of each Month during the portion of the Plan Year that follows such
Crediting Date, pro-rata based upon the percentage

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of such portion of the Plan Year that is included in such Month; but in each case only if the
Participant remains a Director on the last day of such Month; provided, that if a Participant’s
Termination Date occurs other than on the last day of a Month, the Participant shall forfeit any
Restricted Stock or Deferred Stock that is attributable to periods following the last day of the
preceding Month; and provided, further, that the number of shares with respect to which Restricted
Stock and/or Deferred Stock vests on a particular day shall be rounded to the nearest whole number
of shares, if necessary to avoid vesting with respect to a fractional share.

     7. (a) DEFERRAL ACCOUNTS. The Company shall maintain a “Stock Unit Account” for each
Participant with respect to that Participant’s Deferred Stock and, for a Participant who makes a
Periodic Election to receive Deferred Cash, a “Cash Account,” and shall make credits to these
Deferral Accounts as provided in Section 6 and this Section 7. Whenever a dividend is paid or
other distribution made with respect to the Common Stock, each Stock Unit Account shall be credited
with a number of shares of Common Stock having a Value, as of the date such dividend is paid or
such distribution is made, equal to (i) the number of stock units in such Stock Unit Account as of
the record date for such dividend or distribution multiplied by (ii) the Dividend Equivalent for
such dividend or other distribution. The shares so credited with respect to Deferred Stock that
has not vested as of the record date for the dividend or distribution shall vest as and when such
Deferred Stock vests. Each Cash Account shall accrue interest on the balance therein at the
Interest Rate, to be credited and compounded monthly.

          (b) DELIVERY OF ACCOUNT BALANCES. (i) Each Participant shall be provided the opportunity to
elect, in accordance with the Procedures, the manner in which his or her Deferral Account balances
will be distributed on or after his or her Termination Date (each such election, a “Delivery
Election”). The Procedures shall also specify (A) whether, and to what extent, different Delivery
Elections may be made with respect to amounts of cash credited to a Cash Account and stock units
credited to a Stock Unit Account, and with respect to amounts credited pursuant to different
Periodic Elections, (B) the choices for the form and time of delivery offered to Participants (such
as single sum or installment delivery and the timing of the Participant’s Delivery Starting Date),
and (C) the form and time of delivery if a Participant does not make a valid Delivery Election with
respect to any portion of his or her Cash Account or Stock Unit Account.

          (ii) The stock units in a Participant’s Stock Unit Account and/or the cash in a Participant’s
Cash Account, as applicable, shall be delivered on or beginning on the Delivery Starting Date in
accordance with the Participant’s applicable Delivery Elections. In the case of deliveries from a
Cash Account, such delivery shall be made in the form of cash. In the case of deliveries from a
Stock Unit Account, such delivery shall be made in the form of stock representing a number of
shares of Common Stock equal to the number of stock units as and when they are to be delivered;
provided, that if the number of shares to be delivered on any particular date included a fractional
share, such number of shares shall be rounded down to the nearest whole number, and if such
delivery is the last delivery from a Stock Unit Account to be made to the Participant, the Company
shall pay the Participant cash in an amount equal to the

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Value of such fractional share on the date of delivery. If any such stock units or cash are to be
delivered after the Participant has become legally incompetent, they shall be delivered to the
Participant’s legal guardian in accordance with the foregoing.

          (iii) Participants shall be provided with the opportunity to designate, in accordance with the
Procedures, the person or persons (“Beneficiaries”) who will receive distributions of his or her
interests in the Plan upon the death of the Participant (a “Beneficiary Designation”). The
Procedures shall specify whether, how, and subject to what conditions a Beneficiary Designation or
Delivery Election may be superseded or revoked. The Procedures also shall specify the form and
timing of payment in the event of the death of a Participant prior to the completion of all
distributions of the Participant’s interest in the Plan. If a Participant does not have a valid
Beneficiary Designation in effect as of the date of his or her death, his or her Beneficiary shall
be his or her estate.

     8. DELIVERY OF SHARES; VOTING AND OTHER RIGHTS. The shares delivered to a Participant
pursuant to Section 6 or 7 above shall be issued in the name of the Participant, or the
Participant’s Beneficiary, as the case may be, and the Participant, or the Participant’s
Beneficiary, as the case may be, shall be entitled to all rights of a shareholder with respect to
Common Stock for all such shares issued in his or her name, including the right to vote the shares,
and the Participant shall receive all dividends and other distributions paid or made with respect
thereto from and after the date of such issuance, except as specifically provided in Section
6(c)(i).

     9. GENERAL RESTRICTIONS. (a) Notwithstanding any other provision of the Plan or agreements
or certificates created pursuant thereto, the Company shall not be required to issue or deliver any
shares of Common Stock under the Plan prior to fulfillment of all of the following conditions:

          (i) Listing or approval for listing upon official notice of issuance of such shares on the New
York Stock Exchange, or such other securities exchange as may at the time be a market for the
Common Stock;

          (ii) Any registration or other qualification of such shares under any state or federal law or
regulation, or the maintaining in effect of any such registration or other qualification which the
Committee shall, in its absolute discretion upon the advice of counsel, deem necessary or
advisable; and

          (iii) Obtaining any other consent, approval, or permit from any state or federal governmental
agency which the Committee shall, in its absolute discretion after receiving the advice of counsel,
determine to be necessary or advisable provided, however, that notwithstanding the foregoing, the
payment in the form of issuance or delivery of shares of Common Stock shall not be delayed unless
the Committee reasonably anticipates that the issuance or delivery of the shares of Common Stock
will violate Federal securities or other applicable law, and provided further that in the event the
issuance or delivery of shares of

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Common Stock is delayed hereunder, such issuance or delivery will thereafter be made at the
earliest date at which the Committee reasonably anticipates that the issuance or delivery will not
cause such violation.

          (b) Nothing contained in the Plan shall prevent the Company from adopting other or additional
compensation arrangements for the Participants.

          (c) Except as specifically provided in the Plan with respect to Beneficiary Designations, no
Participant or Beneficiary shall have the right to assign, pledge or otherwise dispose of his or
her interest in any Deferral Account, nor shall the interest of a Participant or Beneficiary
therein be subject to garnishment, attachment, transfer by operation of law, or any legal process.

          (d) The Plan is intended to constitute an unfunded plan for incentive and deferred
compensation of Directors, and the rights of Directors with respect to Deferral Accounts under the
Plan shall be those of general creditors of the Company. The Committee may authorize the creation
of trusts or other arrangements to meet the obligations created under the Plan to deliver Common
Stock or make payments, so long as the existence of such trusts or other arrangements and any
transfer of amounts thereto is consistent with the unfunded status of the Plan and does not result
in taxation under Section 409A.

     10. NUMBER AND SOURCE OF SHARES AVAILABLE. All Deferred Stock and Restricted Stock provided
for under the Plan shall automatically be granted under the Long Term Incentive Plan, and shall
reduce the number of shares available for awards under the Long Term Incentive Plan. Sections 5.1,
5.3, and 5.4 of the Long Term Incentive Plan shall apply with respect to awards made under the
Plan.

     11. CHANGE IN CAPITAL STRUCTURE. (a) In the event that there is, at any time after the Board
adopts the Plan, any change in the Common Stock by reason of any stock dividend, stock split,
combination of shares, exchange of shares, warrants or rights offering to purchase Common Stock at
a price below its fair market value, reclassification, recapitalization, merger, consolidation,
spin-off or other change in capitalization of the Company, appropriate adjustment shall be made in
the number and kind of shares or other property held in the Stock Unit Accounts (taking into
account whether any Dividend Equivalent is credited to the Stock Unit Accounts in connection
therewith), and any other relevant provisions of the Plan by the Committee, whose determination
shall be binding and conclusive on all persons. Options and Restricted Stock granted pursuant to
the Plan and the Long Term Incentive Plan shall be subject to adjustment pursuant to Section 5 of
the Long Term Incentive Plan.

          (b) If the shares of Common Stock credited to the Stock Unit Accounts are converted pursuant
to this Section 11 into cash or another form of property, references in the Plan to the Common
Stock shall be deemed, where appropriate, to refer to such cash or other form of property, with
such other modifications as may be required for the Plan to operate in accordance with its
purposes. Without limiting the generality of the

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foregoing, references to delivery of certificates for shares of Common Stock shall be deemed to
refer to delivery of cash and the incidents of ownership of any other property held in the Stock
Unit Accounts.

     12. PROCEDURES; ADMINISTRATION

          (a) The Committee shall adopt and from time-to-time amend Procedures relating to Periodic
Elections, Delivery Elections and other compensation payable hereunder that is subject to Section
409A, and shall take all actions necessary to ensure that the documentation and administration of
the Plan complies with the requirements of Section 409A with respect to all compensation payable
under the Plan that is subject to Section 409A; it being understood that the Committee may delegate
(including, without limitation, to one or more employees of the Company and its Subsidiaries) its
responsibility for the documentation and administration of the Plan (other than amendments to the
Plan or the Procedures). The Procedures, together with this document, shall constitute the plan
document for the Plan.

          (b) The Committee shall have full authority to construe and interpret the Plan, and to take
all actions and make such determinations in connection with the Plan as it may deem necessary or
desirable.

     13. AMENDMENT. The Board may from time to time make such amendments to the Plan as it may deem
proper and in the best interest of the Company, and it may terminate the Plan at any time.
However, no such amendment or termination shall result in the payment of any compensation under the
Plan that is subject to Section 409A at a time or times, or under circumstances, not permitted by
Section 409A. Without limiting the generality of the foregoing, under no circumstances may any
amendment or termination of the Plan result in the acceleration of the payment of compensation
payable under the Plan that is subject to Section 409A, except as may be permitted by Section 409A.

     14. MISCELLANEOUS. (a) Nothing in the Plan shall be deemed to create any obligation on the
part of the Board to nominate any Director for reelection by the Company’s shareholders or to limit
the rights of the shareholders to remove any Director.

          (b) The Company shall have the right to require, prior to the issuance or delivery of any cash
or shares of Common Stock pursuant to the Plan, that a Director make arrangements satisfactory to
the Committee for the withholding of any taxes required by law to be withheld with respect to the
issuance or delivery of such cash or shares, including without limitation by the withholding of
shares that would otherwise be so issued or delivered, by withholding from any other payment due to
the Director, or by a cash payment to the Company by the Director. In the event a Director fails
to make satisfactory arrangements for the withholding of such taxes, the Company shall withhold
from the cash or shares that would otherwise be so issued or delivered.

10

 

     15. GOVERNING LAW. The Plan and all actions taken thereunder shall be governed by and
construed in accordance with the laws of the State of Delaware.

11

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