Document:

Exhibit 10.1

 

execution
copy

 

STONERidge,
Inc.

 

DEFERRED
COMPENSATION PLAN

 

Effective Date: June 1, 2017

 

     

     

    

 

TABLE OF
CONTENTS

 

	 	 	Page
	 	 	 
	Article 1	PRELIMINARY PROVISIONS	1
	 	 	 
	Article 2	DEFINITIONS	2
	 	 	 
	Article 3	ELIGIBILITY AND PARTICIPATION	10
	 	 	 
	Article 4	CONTRIBUTIONS AND Distribution ACCOUNTS	12
	 	 	 
	Article 5	Distribution ACCOUNTS	17
	 	 	 
	Article 6	ELIGIBILITY FOR BENEFITS	19
	 	 	 
	Article 7	BENEFIT DISTRIBUTIONS	21
	 	 	 
	Article 8	DEATH BENEFITS	23
	 	 	 
	Article 9	RIGHTS OF PARTICIPANTS AND BENEFICIARIES	24
	 	 	 
	Article 10	TRUST	25
	 	 	 
	Article 11	CLAIMS PROCEDURE	25
	 	 	 
	Article 12	ADMINISTRATION	28
	 	 	 
	Article 13	AMENDMENT AND TERMINATION	29
	 	 	 
	Article 14	PARTICIPATING COMPANIES	30
	 	 	 
	Article 15	MISCELLANEOUS	31

 

     

     

    

 

STONERIDGE,
Inc.

 

DEFERRED
COMPENSATION PLAN

 

This Plan is hereby
adopted by Stoneridge, Inc., an Ohio corporation (the “Company”);

 

WITNESSETH:

 

WHEREAS, the Company
maintains the Stoneridge, Inc. 401(k) Retirement Plan (the “401(k) Plan”); and

 

WHEREAS, the Company
now desires to establish the Stoneridge, Inc. Deferred Compensation Plan (the “Plan”) in order to permit certain Non-Employee
Directors of the Company and certain management and highly compensated Employees of the Company and other Participating Companies
to make deferrals of portions of their future Annual Cash Retainers and Committee Chair Cash Retainers while serving in such capacity
(in the case of the Non-Employee Directors) and to make deferrals of future Base Salary, AIP Compensation and LTIP Awards while
serving in such capacity (in the case of Employees) and to receive Match Amounts with respect to certain of such deferrals; and

 

WHEREAS, the Board
of Directors of the Company has approved adoption of the Plan;

 

NOW, THEREFORE, the
Company’s Board of Directors hereby adopts the Plan, effective June 1, 2017, as follows:

 

Article
1      

PRELIMINARY PROVISIONS

 

1.1.      Name.
The name of this Plan shall be the Stoneridge, Inc. Deferred Compensation Plan.

 

1.2.      Effective
Date. This Plan shall be effective June 1, 2017.

 

1.3.      Purpose.
This Plan is hereby established to provide unfunded deferred compensation to certain Non-Employee Directors of the Company and
certain management and highly compensated Employees of the Company and the other Participating Companies under certain conditions
specified herein.

 

1.4.      Plan
for a Select Group. This Plan only shall cover Non-Employee Directors and Employees of the Company and the other Participating
Companies who are members of a “select group of management or highly compensated employees” within the meaning of Sections
201(2), 301(a)(3), 401(a)(1) and 4021(b)(6) of ERISA. The Company shall have the authority to take any and all actions necessary
or desirable in order that this Plan shall satisfy the requirements set forth in ERISA and lawful regulations and other lawful
guidance thereunder applicable to plans maintained for individuals who are members of a select group of management or highly compensated
employees. This Plan shall be administered in such a manner, and benefits hereunder shall be so limited, notwithstanding any apparently
contrary provision of this Plan, in order that this Plan shall constitute such a plan.

 

     

     

    

 

1.5.      Not
a Funded Plan. It is the intention and purpose of the Company and the other Participating Companies that this Plan shall
be deemed to be “unfunded” for federal income tax purposes as well as being such a plan as would properly be described
as “unfunded” for purposes of Title I of ERISA. This Plan shall be administered in such a manner, notwithstanding any
apparently contrary provision of this Plan, in order that it will be so deemed and would be so described. For the avoidance of
doubt, establishment of a “rabbi trust” (if any) or acquisition of corporate owned life insurance (if any) in connection
with this Plan shall in no way be deemed to alter the status of this Plan as unfunded as hereinbefore provided in this Section.

 

1.6.      Section
409A Compliance. It is the intention and purpose of the Company, the other Participating Companies and Participants that
this Plan shall be deemed at all relevant times to be in compliance with Section 409A of the Code (as hereinafter defined) and
lawful regulations and other lawful guidance thereunder. Notwithstanding any apparently contrary provision of this Plan, this Plan
shall be interpreted and administered in such a manner that it will be so deemed.

 

Article
2

DEFINITIONS

 

Unless the context
otherwise indicates, the following words used herein shall have the following meanings wherever used in this Plan:

 

2.1.      Adoption
Date. The words “Adoption Date” shall mean the date as of which any Participating Company shall have adopted
the Plan.

 

2.2.      Affiliated
Company. The words “Affiliated Company” generally shall mean any corporation which would be defined as a member
of a “controlled group of corporations” within the meaning of Code Section 414(b) which includes the Company or any
Participating Company or any business organization which would be defined as a trade or business (whether or not incorporated)
which is under “common control” within the meaning of Code Section 414(c) with the Company or any Participating Company
but, in each case, only during periods any such corporation or business organization would be so defined. This definition shall
be modified in the following circumstances: (a) for purposes of the definition of “Separation from Service” the modification
described in Treasury Regulation 1.409A-1(h) shall apply; and (b) for purposes of determining whether Shares are “Service
Recipient Stock” with respect to an individual, the modification described in Treasury Regulation Section 1.409A-1(b)(5)(iii)
shall apply.

 

2.3.      AIP.
The acronym “AIP” shall mean the Stoneridge, Inc. Annual Incentive Plan, as the same may be amended from time to time
and any successor thereto.

 

2.4.      AIP
Compensation. The words “AIP Compensation” shall mean an Employee Participant’s annual incentive award
for services rendered to a Participating Company while a Participant, payable pursuant to the AIP. A Participant’s AIP Compensation
will not be reduced by amounts which are excluded from taxable income under Code Sections 125, 402(e)(3) or 402(h) or deferred
under this Plan. A Participant’s AIP Compensation will not include AIP Compensation previously deferred in accordance with
the terms of this Plan when paid.

 

2.5.      Annual
Cash Retainer. The words “Annual Cash Retainer” shall mean the annual cash retainer payable as compensation
to a Non-Employee Director for services in such capacity.

 

    	 	2	 

     

    

 

2.6.      Annual
Committee Chair Cash Retainer. The words “Annual Committee Chair Cash Retainer” shall mean the annual cash
retainer payable as additional compensation to a Non-Employee Director for service as the chair of a committee of the Board.

 

2.7.      Appeals
Committee. The words “Appeals Committee” shall mean the Appeals Committee established pursuant to Article 11
hereof.

 

2.8.      Base
Salary. The words “Base Salary” shall mean an Employee Participant’s base remuneration for services rendered
to a Participating Company while a Participant. A Participant’s Base Salary will not be reduced by amounts which are excluded
from taxable income under Code Sections 125, 402(e)(3) and 402(h) or deferred under this Plan. A Participant’s Base Salary
will not include AIP Compensation, LTIP Awards or any amounts previously deferred in accordance with the terms of this Plan when
paid.

 

2.9.      Beneficiary.
The word “Beneficiary” shall mean any person who receives or is designated to receive payment of any benefit under
the terms of this Plan because of the participation of another person in this Plan.

 

2.10.    Benefit
Commencement Date. The words “Benefit Commencement Date” shall mean the first date as of which benefits are
to be paid or commence to be paid to a Participant or Beneficiary pursuant to the terms of this Plan. A Participant’s Benefit
Commencement Date shall be as follows:

 

(a)      Separation
Distribution Account. The Benefit Commencement Date is described in Section 4.4(a).

 

(b)      Flexible
Distribution Account. The Benefit Commencement Date is described in Section 4.5(a).

 

(c)      Death
or Disability Distribution. In the event the Participant elects for his or her benefit to be paid immediately following
his or her death and/or Disability, and the Participant has not previously experienced his or her Benefit Commencement Date, the
Benefit Commencement Date shall be a date selected by the Plan Administrator which is as soon as reasonably practicable, but not
later than ninety (90) days following the Participant’s death or Disability. Otherwise, the Benefit Commencement Date shall
be determined in accordance with subsections (a) or (b), as applicable.

 

Distribution on account
of an Unforeseeable Emergency shall not constitute a Benefit Commencement Date.

 

2.11.    Board.
The word “Board” shall mean the Board of Directors of the Company.

 

2.12.    Breach
of the Restrictive Covenants. The words “Breach of the Restrictive Covenants” shall mean, during a Participant’s
employment with the Company or any Affiliated Company or thereafter, during the term of any written agreement between the Company
or Affiliated Company and the Participant dealing with noncompetition, nonsolicitation, noninterference, confidentiality or similar
matters, the breach of such agreement by the Participant as reasonably determined by the Committee in good faith, but only if such
breach is not remedied within thirty (30) days following actual written notification of such breach by the Committee to the Participant.

 

    	 	3	 

     

    

 

2.13.    Cause.
The word “Cause” shall mean for purposes of this Plan unless otherwise provided by the Committee:

 

(a)      “Cause”
as defined in any Individual Agreement to which the Participant is a party, or

 

(b)      if
there is no such Individual Agreement or if it does not define Cause:

 

(i)          misappropriation
of funds from the Company or dishonesty in the course of fulfilling the Participant’s employment duties;

 

(ii)         conviction
of a felony;

 

(iii)        commission
of a crime or act or series of acts involving moral turpitude;

 

(iv)        commission
of an act or series of acts of dishonesty that are materially inimical to the best interests of the Company;

 

(v)         breach
of any material term of an employment agreement, if any;

 

(vi)        willful
and repeated failure to perform the duties associated with the Participant’s position, which failure has not been cured within
thirty (30) days after the Company gives notice thereof to the Participant; or

 

(vii)       failure
to cooperate with any Company investigation or with any investigation, inquiry, hearing or similar proceedings by any governmental
authority having jurisdiction over the Participant or the Company.

 

The Committee shall,
unless otherwise provided in an Individual Agreement with the Participant, have the sole discretion to determine whether “Cause”
exists, and its determination shall be final.

 

2.14.     Change
in Control. The words “Change in Control” shall mean the occurrence of any of the following events:

 

(a)      the
Board or shareholders of the Company approve a consolidation or merger that results in the shareholders of the Company immediately
prior to the transaction giving rise to the consolidation or merger owning less than 50% of the total combined voting power of
all classes of stock entitled to vote of the surviving entity immediately after the consummation of the transaction giving rise
to the merger or consolidation;

 

(b)      the
Board or shareholders of the Company approve the sale of substantially all of the assets of the Company or the liquidation or dissolution
of the Company that results in the sale of such assets or the implementation of such liquidation or dissolution;

 

(c)      any
person or other entity (other than the Company or a Subsidiary or any Company employee benefit plan (including any trustee of any
such plan acting in its capacity as trustee)) purchases any Shares (or securities convertible into Shares) pursuant to a tender
or exchange offer without the prior consent of the Board, or becomes the beneficial owner of securities of the Company representing
35% or more of the voting power of the Company’s outstanding securities; or

 

    	 	4	 

     

    

 

(d)      during
any two-year period, individuals who at the beginning of such period constitute the entire Board cease to constitute a majority
of the Board, unless the election or the nomination for election of each new Director is approved by at least two-thirds of the
Directors then still in office who were Directors at the beginning of that period.

 

For purposes of amounts
which are subject to Code Section 409A, Change in Control shall mean a Change in Control as defined above which is also a “change
in control event” within the meaning of such Section 409A.

 

2.15.     Code.
The word “Code” shall mean the Internal Revenue Code of 1986, as amended, and any lawful regulations or other lawful
guidance promulgated thereunder. Whenever a reference is made herein to a specific Code Section, such reference shall be deemed
to include any successor Code Section having the same or a similar purpose.

 

2.16.     Committee.
The word “Committee” shall mean the Compensation Committee of the Board or such other committee authorized by the Board
to act on matters relevant to the Plan, or, absent such a committee; the full Board.

 

2.17.     Company.
The word “Company” shall mean Stoneridge, Inc. and any successor corporation or business organization which shall assume
the duties and obligations of Stoneridge, Inc. under this Plan.

 

2.18.     Deferral
Amount. The words “Deferral Amount” shall mean for each Participant a hypothetical amount equal to the amount
by which the Participant’s Annual Cash Retainer, Annual Committee Chair Cash Retainer, Base Salary, AIP Compensation or LTIP
Award are reduced by means of a Deferral Election pursuant to Article 4 hereof, as such amount is adjusted from time to
time to reflect hypothetical investment income, gains or losses.

 

2.19.     Deferral
Election. The words “Deferral Election” shall mean, with respect to any Participant, the whole percentage or
dollar amount of Annual Cash Retainer, Committee Chair Cash Retainer, Base Salary, AIP Compensation or LTIP Award which the Participant
elects to defer on a hypothetical basis to the Plan pursuant to Article 4 hereof.

 

2.20.     Director.
The word “Director” shall mean a member of the Board.

 

2.21.     Disability.
The word “Disability” shall mean, with respect to any Participant, a Participant’s absence from active service
with (but not a Separation from Service from) the Company or any Affiliated Company: (i) due to the Participant’s inability
to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months; or (ii) due
to the fact that because of the Participant’s medically determinable physical or mental impairment, which can be expected
to result in death or can be expected to last for a continuous period of not less than twelve (12) months, for which the Participant
is receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering
Employees of the Company or Affiliated Company by which the Participant is employed. In lieu of a determination by the Plan Administrator,
a determination by the Social Security Administration or the Railroad Retirement Board that a Participant is totally disabled shall
be deemed determinative that a Participant is Disabled for purposes of this Plan. If a Participant is determined to be Disabled
in accordance with a disability insurance program maintained by the Company or Affiliated Company by which the Participant is employed,
the Participant will be considered Disabled for purposes of this Plan if the definition of “disability” contained in
such plan complies with the requirements of this definition.

 

    	 	5	 

     

    

 

2.22.     Distribution
Accounts. The words “Distribution Accounts” shall mean the Separation Distribution Account and/or Flexible
Distribution Account maintained on the books of the Company for a Participant under this Plan. A Participant’s Distribution
Accounts shall be bookkeeping accounts only and shall not constitute or be treated as reflecting a trust fund or other type of
fund of any kind.

 

2.23.     Effective
Date. The words “Effective Date” shall mean the date this Plan shall become effective, which date shall be
June 1, 2017.

 

2.24.     Employee.
The word “Employee” shall mean any common-law employee of the Company or any other Participating Company, whether
or not an officer or Director, but excluding any person serving only in the capacity of a Director.

 

2.25.     ERISA.
The acronym “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended, and any lawful regulations
or other lawful guidance promulgated thereunder. Whenever a reference is made herein to a specific ERISA Section, such reference
shall be deemed to include any successor ERISA Section having the same or a similar purpose.

 

2.26.     Flexible
Date. The words “Flexible Date” shall mean the year as of which a Participant’s elects for a Flexible
Distribution Account to be distributed pursuant to Section 4.5.

 

2.27.     Flexible
Distribution Account. The words “Flexible Distribution Account” shall mean the bookkeeping account
maintained by the Company on behalf of each Participant with respect to any Deferral Amount and/or Match Amount that the Participant
elects to be distributed as of a specified Flexible Date in accordance with Section 6.1(b).

 

2.28.     401(k)
Plan. The words “401(k) Plan” shall mean the Stoneridge, Inc. 401(k) Retirement Plan or any replacement plan
or successor plan thereto.

 

2.29.     Individual
Agreement. The words “Individual Agreement” shall mean an employment or similar agreement between a Participant
and the Company or another Participating Company.

 

2.30.     Intervening
Event. The words “Intervening Event” shall mean an event that occurs prior to the date a Participant’s
Distribution Accounts are fully distributed, as described in Section 6.2.

 

2.31.     LTIP.
The acronym “LTIP” shall mean the Stoneridge, Inc. 2016 Long-Term Incentive Plan as the same may be amended from time
to time and any successor thereto.

 

2.32.     LTIP
Award. The words “LTIP Award” shall mean a Participant’s long term incentive award for services rendered
to a Participating Company while a Participant, payable pursuant to the LTIP. A Participant’s LTIP Award will not be reduced
by amounts which are excluded from taxable income under Code Sections 125, 402(e)(3) or 402(h) or deferred under this Plan. A Participant’s
LTIP Award will not include LTIP Awards previously deferred in accordance with the terms of this Plan when paid.

 

    	 	6	 

     

    

 

2.33.     Match
Amounts. The words “Match Amounts” shall mean for each Participant the hypothetical amounts which are deemed
to be credited to the Participant’s Distribution Accounts pursuant to Article 4 hereof, as such amount may be adjusted from
time to time to reflect hypothetical investment income, gains or losses.

 

2.34.     Military
Service. The words “Military Service” shall mean duty in the Armed Forces of the United States, whether voluntary
or involuntary, provided that the Non-Employee Director or Employee serves not more than one voluntary enlistment or tour of duty
and further provided that such voluntary enlistment or tour of duty does not follow involuntary duty. To the extent required by
law, it is intended that this Plan shall be administered in compliance with the Uniformed Services Employment and Reemployment
Rights Act of 1994.

 

2.35.     Non-Employee
Director. The words “Non-Employee Director” have the meaning set forth in Section 16 of the Securities Exchange
Act of 1934, as amended, or any successor definition adopted by the Securities and Exchange Commission.

 

2.36.    Participant.
The word “Participant” shall mean any Non-Employee Director or Employee who has performed all the acts required by
this Plan to become a Participant, who has become a Participant in accordance with Article 3 hereof, and who remains a Participant
hereunder. However, the word “Participant” may also include, where the context indicates, a former Participant in
this Plan.

 

2.37.    Participating
Company. The words “Participating Company” shall mean the Company and any Subsidiary which is or shall become
a Participating Company in the Plan pursuant to Article 14 hereof but only for periods while it is a Participating Company.

 

2.38.    Performance
Period. The words “Performance Period” shall mean the period used to measure performance under the AIP and
the LTIP, which shall be no less than a twelve (12) month period. As of the Effective Date, the AIP Performance Period is the twelve
(12) month period ending on December 31 each calendar year and the LTIP Performance Period is the thirty-six (36) month period
ending on December 31 each calendar year.

 

2.39.     Plan.
The word “Plan” shall mean the Stoneridge, Inc. Deferred Compensation Plan as set forth herein, effective as of the
Effective Date, and as it may be later amended.

 

2.40.     Plan
Administrator. The words “Plan Administrator” shall mean the person or persons, corporation or partnership
designated as Plan Administrator under Article 12 hereof.

 

2.41.     Plan
Year. The words “Plan Year” shall mean the twelve (12) month period ending on December 31 each calendar year.
The first Plan Year shall be a short Plan Year from June 1, 2017 through December 31, 2017.

 

2.42.     Separation
Distribution Account. The words “Separation Distribution Account” shall mean the bookkeeping account maintained
by the Company on behalf of each Participant with respect to any Deferral Amount and/or Match Amount that the Participant elects
to be distributed in conjunction with his or her Separation from Service in accordance with Section 6.1(a).

 

    	 	7	 

     

    

 

2.43.     Separation
from Service. The words “Separation from Service” shall mean a “separation from service” as defined
under Code Section 409A for purposes of determining when a distribution may be made under the terms of a non-qualified deferred
compensation plan such as this Plan and which is described for informational purposes in this Section. In general, a Separation
from Service with respect to an Employee for purposes of this Plan occurs when there is a good faith severance of the employment
relationship between the Company or other Participating Company and its Affiliated Companies and an Employee due to the Employee’s
death, retirement or other “termination of employment” (as that term is defined for purposes of identifying a Separation
from Service for purposes of Code Section 409A). Specifically, the following shall apply:

 

(a)      An
Employee will not be deemed to have a Separation from Service while on military leave, sick leave, or other bona fide (i.e., where
there is a reasonable expectation that the Employee will return) leave of absence if the period of such leave does not exceed six
(6) months, or, if longer, so long as the Employee retains a right to reemployment with the Company or other Participating Company
or an Affiliated Company by law or contract. If the leave exceeds six (6) months and the Employee does not retain such a reemployment
right, the Separation from Service occurs on the first day following such six (6) month period. However, where the leave is due
to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last
for a continuous period of not less than six (6) months, where such impairment causes the Employee to be unable to perform the
duties of the Employee’s position of employment or any substantially similar position of employment, twenty-nine (29) months
will be substituted for six (6) months for purposes of this subsection;

 

(b)      An
Employee will not be considered to have a Separation from Service merely due to transfer between Employee and independent contractor
status (including status as a Non-Employee Director of the Company); and

 

(c)      Whether
a “termination of employment” (as defined for purposes of the definition of Separation from Service under Code Section
409A) has occurred is determined based on whether the facts and circumstances indicate that the Company or other Participating
Company or Affiliated Company and the Employee reasonably anticipated that:

 

(i)          
no further services would be performed after a certain date; or

 

(ii)         that
the level of bona fide services the Employee would perform after such date (whether as an Employee or independent contractor, including
as a Non-Employee Director) would permanently decrease to less than twenty percent (20%) of the average level of bona fide services
provided in the immediately preceding thirty-six (36) months (or the full period of services if less).

 

This Plan contains
definitions of both the words “Termination of Employment” and the words “Separation from Service.” The
definition of Termination of Employment is the same as the definition in the 401(k) Plan with the intent of providing, to the extent
possible, parallel treatment of individuals who participate in both plans. The term Separation from Service is contained in this
Plan, but not the 401(k) Plan, to highlight the fact that the definitions and effect thereof may not always be the same

 

A Non-Employee Director
is considered to have a Separation from Service with the Company and its Affiliated Companies upon the expiration of the Non-Employee
Director relationship (and any other contract with the Non-Employee Director) under which services are performed if the expiration
is a good faith and complete termination of the relationship. An expiration does not constitute a good faith and complete termination
of the contractual relationship if the Company or an Affiliated Company anticipates a renewal of the relationship or the Non-Employee
Director becoming an Employee.

 

    	 	8	 

     

    

 

As of the Effective
Date, because the Non-Employee Directors and the Employees are covered by a single plan document, a Separation from Service for
an individual serving in both capacities (e.g. an individual who transfers from service as an Employee and inside Director to service
solely as a Non-Employee Director) would require Separation from Service in both capacities in order to be treated as having a
Separation from Service under this Plan. If in the future a different interpretation of Code Section 409A and Treasury Regulations
1.409A-1(c)(2)(ii) and 1.409A-1(h)(5) is appropriate, that interpretation will be taken into account in determining whether a Separation
from Service has occurred for purposes of this Plan where applicable.

 

2.44.     Service
Recipient Stock. The words “Service Recipient Stock” generally shall mean a class of stock that as of the
date of grant, is common stock for purposes of Code Section 305 as more fully defined in Treasury Regulation 1.409A-1(b)(5)(iii).

 

2.45.    Shares.
The word “Shares” shall mean the Common Shares, without par value, of the Company. The Shares are intended to be Service
Recipient Stock with respect to any Participant for which such status is relevant.

 

2.46.     Subsequent
Election. The words “Subsequent Election” shall mean, with respect to any Participant, an election to redefer
a Distribution Account in accordance with Section 4.4(c) or 5.4(c).

 

2.47.     Subsidiary.
The word “Subsidiary” shall mean any corporation (other than the Company) in an unbroken chain of corporations beginning
with the Company if each of the corporations (other than the last corporation in the unbroken chain) owns stock possessing 50%
or more of the total combined voting power of all classes of stock in one of the other corporations in that chain. In order to
be a Subsidiary for purposes of this Plan, a corporation or other business organization must be organized under the laws of the
United States of America or one of the several States.

 

2.48.     Termination
Date. The words “Termination Date” shall mean the date as of which any Participating Company ceases to participate
in the Plan.

 

2.49.     Termination
of Employment. The words “Termination of Employment” shall mean for any Employee the occurrence of a termination
of employment as defined in the 401(k) Plan. See the definition of the words “Separation from Service.”

 

2.50.     Treasury
Regulation. The words “Treasury Regulation” shall mean the tax regulations issued by the United States Internal
Revenue Service. Whenever a reference is made herein to a specific Treasury Regulation, such reference shall be deemed to include
any successor Treasury Regulation having the same or a similar purpose.

 

2.51.     Trust.
The word “Trust” shall mean any trust that may be established pursuant to Article 10 hereof.

 

2.52.     Unforeseeable
Emergency. The words “Unforeseeable Emergency” shall have the meaning set forth under Code Section 409A,
as more fully described in Section 6.2(d).

 

    	 	9	 

     

    

 

2.53.     Vested
Interest. The words “Vested Interest” shall mean with respect to any Participant the total of (a) plus (b)
where:

 

(a)      equals
his or her Deferral Amounts; and

 

(b)      equals
his or her Match Amounts, multiplied by the Participant’s Vested Percentage.

 

2.54.     Vested
Percentage. The words “Vested Percentage” shall mean for any Participant a percentage determined on the basis
of the Participant’s number of Years of Participation in accordance with the following table:

 

	Years of Participation	 	Vested Percentage
	 	 	 
	Fewer than 3 years	 	 	0	%
	3 or more years	 	 	100	%

 

Notwithstanding the
foregoing, the Vested Percentage of a Participant’s Deferral Amounts always shall be one hundred percent (100%) and the Vested
Percentage of a Participant’s Match Amounts shall become one hundred percent (100%) upon the first to occur of the following
events:

 

(a)      the
Participant’s death while he or she is a Non-Employee Director or an Employee;

 

(b)      the
Participant’s Disability;

 

(c)      the
effective date of the termination of the Plan; or

 

(d)      the
date of a Change in Control.

 

However, notwithstanding
any contrary provision of this Plan, regardless of a Participant’s Vested Percentage, the Participant’s Match Amounts
shall at all times until paid be forfeitable (i.e., the Vested Percentage shall be reduced to 0%) for termination of employment
for Cause or for Breach of the Restrictive Covenants.

 

2.55.    Years
of Participation. The words “Years of Participation” shall mean complete calendar years of participation in
this Plan. Notwithstanding the foregoing, a Participant who would have satisfied the eligibility and participation requirements
set forth in Sections 3.1 and 3.2 as of December 31, 2016, and who continued in employment from January 1, 2017 through December
31, 2017, shall be credited with one Year of Participation for 2017, notwithstanding the Plan’s Effective Date.

 

Article
3

ELIGIBILITY
AND PARTICIPATION

 

3.1.      Eligibility.
An individual will become eligible to participate in the Plan on the date the individual becomes either:

 

(a)      a
Non-Employee Director; or

 

    	 	10	 

     

    

 

(b)      an
Employee of a Participating Company whose current annual rate of Base Salary equals or exceeds $150,000 unless the Committee determines
that the individual is not a member of a select group of management or highly compensated employees within the meaning of ERISA
Sections 201(2), 301(a)(3), 401(a)(1) and 4021(b)(6).

 

Each Non-Employee Director
and each such Employee shall be notified of his or her eligibility to participate in this Plan upon the Participant’s attainment
of such status.

 

3.2.      Participation.
Each Non-Employee Director and each Employee who has satisfied the eligibility requirements set forth in Section 3.1 hereof shall
become a Participant as of the first day of the following Plan Year, provided that the individual complies with appropriate administrative
requirements for enrollment of Participants. Notwithstanding the foregoing, such an individual who would have satisfied the eligibility
and participation requirements set forth in Sections 3.1 and 3.2 as of December 31, 2016, and who continued in employment from
January 1, 2017 through June 1, 2017, shall become a Participant as of June 1, 2017, provided the individual complies with appropriate
administrative requirements for enrollment of Participants.

 

An individual shall
remain a Participant until the first to occur of the individual’s death, Disability or Separation from Service. But see Section
3.3 regarding cessation of active participation due to a determination by the Committee or transfer to an Affiliated Company that
is not a Participating Company.

 

3.3.      Cessation
of Active Participation. In the event that the Committee determines, in its sole discretion, that an Employee Participant
is not a member of a “select group of management or highly compensated employees” within the meaning of Sections 201(2),
301(a)(3), 401(a)(1) and 4021(b)(6) of ERISA, or otherwise no longer is eligible to participate in the Plan (e.g. if an Employee
Participant ceases to be employed by a Participating Company but continues to be employed by a Subsidiary or Affiliate), then the
Participant’s active participation in this Plan shall cease. In the event of such termination of active participation:

 

(a)      such
Participant shall no longer be permitted to receive allocation of Deferral Amounts or Match Amounts hereunder; and

 

(b)      the
Committee shall direct that such actions shall be taken which, in its sole discretion, most closely adhere to the terms of this
Plan while not putting at risk its status as a plan maintained for a “select group of management or highly compensated employees”
as referred to above and continuing to be in compliance with Code Section 409A and other applicable law.

 

3.4.      Inactive
Participants. If a Participant ceases to be an active Participant for any reason but has not died, become Disabled or had
a Separation from Service, he or she shall cease to be an active Participant and shall become an inactive Participant.

 

3.5.      Return
to Service by Participant. In the event that a former Participant shall return to service as a Non-Employee Director or
Employee, the former Participant may become eligible to again become a Participant in the Plan in accordance with Section 3.1 of
this Plan, as a new Non-Employee Director or new Employee, but subject to the restrictions of Code Section 409A. Such former
Participant shall become eligible to reenter the Plan pursuant to Section 3.2 as of the first day of the following Plan Year, provided
he or she remains a Non-Employee Director or eligible Employee at that time.

 

    	 	11	 

     

    

 

Article
4

CONTRIBUTIONS
AND Distribution ACCOUNTS

 

4.1.      Deferral
Contributions. If a Participant makes a Deferral Election, a portion of the Annual Cash Retainer, Annual Committee Chair
Cash Retainer, Base Salary, AIP Compensation and/or LTIP Award which would normally be paid to the Participant by the Company or
another Participating Company shall be retained, and, in lieu thereof, a hypothetical amount equal thereto shall constitute a Deferral
Amount hereunder and shall be credited to the Participant’s Distribution Accounts pursuant to Section 5.2 hereof. With
respect to each Plan Year (or Performance Period with respect to paragraphs (d) and (e) below), each Participant may elect to defer
a portion of the following amounts, subject to the following limitations:

 

(a)      Deferrals
by Non-Employee Directors. An eligible Non-Employee Director may make a Deferral Election with respect to his or her Annual
Cash Retainer and, if applicable, his or her Annual Committee Chair Cash Retainer. The Participant may specify a whole percentage
or dollar amount to be deferred, which percentage or dollar amount shall not exceed one hundred percent (100%) of such retainer(s)
unless otherwise provided by the Committee. The minimum amount that may be deferred each year is Two Thousand Dollars ($2,000).

 

(b)      Deferrals
by Employees.

 

(i)          Base
Salary. An eligible Employee may make a Deferral Election with respect to his or her Base Salary. The Participant may specify
a whole percentage or dollar amount to be deferred, which percentage or dollar amount shall not exceed eighty percent (80%) of
his or her Base Salary for such Plan Year unless another maximum is established administratively by the Committee.

 

The
minimum amount that may be deferred each year is Two Thousand Dollars ($2,000).

 

(ii)         AIP
Deferral. Only an eligible Employee may make a Deferral Election with respect to his or her AIP Compensation. The Participant
may specify a whole percentage or dollar amount to be deferred, which percentage or dollar amount shall not exceed one hundred
percent (100%) of his or her AIP Compensation unless another maximum is established administratively by the Committee. In addition,
the minimum combined amount of AIP Compensation and Base Salary that may be deferred shall not be less than Two Thousand Dollars
($2,000).

 

(iii)        
LTIP Award. Only an eligible Employee may make a Deferral Election with respect to his or her LTIP Award. The Participant
may specify a whole percentage or dollar amount to be deferred, which percentage or dollar amount shall not exceed one hundred
percent (100%) of his or her LTIP Award unless another maximum is established administratively by the Committee and shall
not be less than Two Thousand Dollars ($2,000). Notwithstanding the foregoing, no Deferral Election shall be permissible or effective
with respect to any LTIP Award which would qualify as a stock option or stock appreciation right exempt from the application of
Code Section 409A provided it did not contain a deferral feature nor any other LTIP Award if deferral of such compensation is determined
by the Committee to be inconsistent with this Plan or the LTIP, respectively.

 

    	 	12	 

     

    

 

Notwithstanding the
foregoing, with respect to the short first Plan Year from June 1, 2017 through December 31, 2017, a Deferral Election may only
apply to the portion of the Annual Cash Retainer, Annual Committee Chair Cash Retainer and/or Base Salary relating to services
performed on or after June 1, 2017. Furthermore, while the first AIP Performance Period occurring under this Plan runs from January
1 through December 31, 2017, a Deferral Election of AIP Compensation only may apply to the portion of the AIP Compensation relating
to services performed on or after June 1, 2017. Finally, no Deferral Elections may be made with respect to LTIP Awards for any
Performance Period beginning prior to January 1, 2018.

 

4.2.      Match
Contributions. If an Employee Participant has made the maximum pre-tax and/or Roth contributions to the 401(k) Plan which
are permitted under Code Section 402(g) or the maximum elective contributions permitted under the terms of the 401(k) Plan, he
or she may be eligible to be credited with a Match Amount for the applicable Plan Year or Performance Period. Unless otherwise
determined by the Committee, with respect to each Plan Year or Performance Period, the Distribution Accounts of each such Participant
who makes a Deferral Election with respect to his or her Base Salary or AIP Compensation for such Plan Year or Performance Period,
shall be credited with a Match Amount equal to the matching contribution amount which would have been provided to the Participant’s
matching account under the 401(k) Plan if the Deferral Amount had instead been contributed to the 401(k) Plan and the limits imposed
by Code Sections 401(a)(17), 401(k)(3), 401(m)(2), 402(g), and 415 were not applicable MINUS the amount of the match actually provided
under the 401(k) Plan for such Plan Year or Performance Period for such Participant.

 

Notwithstanding the
foregoing, with respect to the short first Plan Year from June 1, 2017 through December 31, 2017, Match Amounts will be credited
only for that portion of Base Salary that relates to services performed on or after June 1, 2017. Furthermore, with respect to
the first AIP Performance Period occurring under this Plan, which runs from January 1 through December 31, 2017, Match Amounts
will be credited only for that portion of AIP Compensation that relates to services performed on or after June 1, 2017.

 

4.3.      Deferral
Election Rules. The following rules shall apply to all Deferral Elections.

 

(a)      Timing.
Each Deferral Election shall be made at such time as is required by the Plan Administrator, which in all events shall be made prior
to the beginning of the applicable Plan Year or Performance Period for which the Deferral Election is made.

 

(b)      Form
and Content. Each Deferral Election shall be made in the manner prescribed by the Plan Administrator, and shall specify:
(i) the sources of the Deferral Amounts being deferred (e.g. Base Salary, Annual Cash Retainer); and (ii) the specified percentage
or dollar amount of each source to be deferred; (iii) the portion of the Deferral Amounts to be credited to his or her Separation
Distribution Account and Flexible Distribution Account; and (iv) whether death and/or Disability will be considered to be an Intervening
Event.

 

(c)      Applicability.
No Deferral Election shall be effective with respect to amounts attributable to services performed before the first day of the
applicable Plan Year or Performance Period.

 

    	 	13	 

     

    

 

(d)      Irrevocability.
Each Deferral Election shall be irrevocable for the entire Plan Year or Performance Period for which it is made.

 

(e)      Additional
Rules for Separation Distribution Accounts. With respect to amounts to be credited to a Participant’s Separation
Distribution Account, the Deferral Election shall also specify the form of distribution, in accordance with Section 4.4, which
election shall also apply to the applicable Match Amounts credited to the Participant’s Separation Distribution Account.

 

(f)      Additional
Rules for Flexible Distribution Accounts. With respect to amounts to be credited to a Participant’s
Flexible Distribution Account, the Deferral Election shall also specify the time of distribution, in accordance with Section 4.5,
which election shall also apply to the applicable Match Amounts credited to the Participant’s Flexible Distribution Account.

 

(g)      Additional
Requirements. Each Deferral Election, and all resulting Deferral Amounts and Match Amounts, shall be subject to such further
rules, procedures, limits and restrictions as the Plan Administrator may establish from time to time.

 

4.4.      Separation
Distribution Account Elections. A Participant’s Vested Interest in his or her Separation Distribution
Account shall be distributed in accordance with the subsections (a) through (e) below.

 

(a)      Time
of Payment. A Participant’s Vested Interest in his or her Separation Distribution Account shall be distributed,
or commence to be distributed, as of the first business day following the date that is six months following the Participant’s
Separation from Service, unless the date of distribution is deferred in accordance with subsection (c), which date shall be his
or her “Benefit Commencement Date”.

 

(b)      Form
of Payment. A Participant’s Vested Interest in his or her Separation Distribution Account shall be distributed in
the form elected by the Participant. The available forms include:

 

(i)          Annual
Installments. The Participant may elect any number of annual installments between two (2) and fifteen (15). The first installment
payment shall be paid as of the Benefit Commencement Date; thereafter, installment payments shall be paid as of the first day of
each applicable calendar year.

 

For example,
if a Participant wishes to receive his or her Vested Interest in ten (10) installments, he or she will receive 1/10th
of his or her Separation Distribution Account on his or her Benefit Commencement Date (which could be mid-year), then 1/9th
as of the first day of the first calendar year following his or her Benefit Commencement Date, 1/8th as of the first
day of the following calendar year, and so on until he or she receives his or her final installment.

 

(ii)         Lump
Sum Payment. The Participant may elect to receive a single lump sum payment.

 

If a Participant
does not elect the form of payment of his or her Separation Distribution Account, the Participant’s Vested Interest in his
or her Separation Distribution Account shall be distributed in ten (10) annual installments.

 

    	 	14	 

     

    

 

(c)       Subsequent
Election Option. Notwithstanding the time and form of distribution established under subsections (a) and (b), a Participant
may make a Subsequent Election with respect to all or part of his or her Separation Distribution Account to change the time and/or
form of distribution, in accordance with the following rules:

 

(i)          The
Subsequent Election must be made at least one year prior to the date the Participant’s existing Benefit Commencement Date
and may not become effective for one year from the date of the Subsequent Election;

 

(ii)         The
Subsequent Election must defer the Benefit Commencement Date to a date that is at least five years after the Benefit Commencement
Date then in effect;

 

(iii)        If
the Subsequent Election converts installment payments into a single lump sum payment or a different number of installments, the
installment payments being redeferred shall be treated as a single lump sum payment payable on the date of the first installment
for purposes of applying the timing rules in paragraphs (i) and (ii);

 

(iv)        The
Subsequent Election of a lump sum payment from the Participant’s Separation Distribution Account may divide the lump sum
into two portions; installment payments may not be divided; and

 

(v)         A
Participant may make more than one Subsequent Election with respect to his or her Separation Distribution Account, provided that
no Subsequent Election may be made after the tenth anniversary of his or her Separation from Service and provided that no Subsequent
Election may defer the Benefit Commencement Date of the Distribution Account beyond the later to occur of (A) the fifteenth (15th)
anniversary of the date which is six (6) months and one day following his or her Separation from Service or (B) his or her attainment
of age sixty-five (65).

 

(d)      Effect
of Intervening Events. The time and form of distribution of a Participant’s Separation Distribution Account will
be superseded by any Intervening Event for which the Participant has made an election to that effect. Regardless of whether the
Intervening Event occurs before or after the Benefit Commencement Date of any such Separation Distribution Account, an Intervening
Event (i.e. the Participant’s death or Disability if so elected) will result in payment of a single lump sum payment of the
Participant’s remaining Vested Interest in his or her Separation Distribution Account for which the Participant has made
an Intervening Event election. Payment will be made on a date selected by the Plan Administrator which is not later than ninety
(90) days following the date of death or Disability of the Participant.

 

(e)      Cashout
of Small Distribution Accounts. Notwithstanding any Deferral Election then in effect, distribution of small
Distribution Accounts shall be made in accordance with Section 7.2.

 

4.5.      Flexible
Distribution Account Elections. A Participant’s Vested Interest in his or her Flexible Distribution
Account shall be distributed in accordance with the subsections (a) through (e) below.

 

    	 	15	 

     

    

 

(a)       Time
of Payment. A Participant’s Vested Interest in his or her Flexible Distribution Account shall be distributed in January
of the year elected by the Participant, subject to the following rules:

 

(i)          A
Participant may elect a different Flexible Date with respect to each Plan Year or Performance Period for which he or she makes
a Deferral Election (including splitting the amount among up to five (5) Flexible Distribution Accounts with respect to any single
Deferral Election), provided that he or she may have no more than five total Flexible Distribution Accounts at any given time.

 

(ii)         The
Flexible Date may not be earlier than a date occurring within the third calendar year following the end of the Plan Year or Performance
Period in which the Annual Cash Retainer, Annual Committee Chair Cash Retainer, Base Salary or AIP Compensation is earned or the
third calendar year following the end of the Performance Period in which the LTIP Award is earned.

 

(iii)        For
Employee Participants, the Flexible Date may not be earlier than the date as of which the Participant shall have completed three
(3) Years of Participation and become 100% Vested in his or her Distribution Accounts;

 

(iv)        A
Participant may defer the date of distribution in accordance with subsection (c); and

 

(v)         The
Flexible Date as of which a Participant’s first Flexible Distribution Account is actually paid shall be his or her “Benefit
Commencement Date:” and

 

(vi)        Unless
the Plan Administrator by administrative action permits otherwise the Flexible Date for all Flexible Distribution Accounts shall
be January 15 of the applicable calendar year.

 

(b)      Form
of Payment. The Participant’s Vested Interest in each Flexible Distribution Account shall be distributed in
the form of a single lump sum payment.

 

(c)      Subsequent
Election Option. Notwithstanding the time of distribution established in subsection (a), s Participant may make a Subsequent
Election with respect to all or part of any Flexible Distribution Account to change the time of distribution, in accordance with
the following rules:

 

(i)          The
Subsequent Election must be made at least one year prior to the Flexible Date then in effect and may not become effective for one
year from the date of the Subsequent Election;

 

(ii)         The
Subsequent Election must defer the Flexible Date to a date that is at least five years after the Flexible Date then in effect;

 

(iii)        The
Subsequent Election from the Participant’s Flexible Distribution Account may divide the lump sum into two portions, provided
that no more than a total of five Flexible Distribution Accounts exist at any one time; and

 

    	 	16	 

     

    

 

(iv)        A
Participant may make more than one Subsequent Election with respect to each Flexible Distribution Account, provided that no Subsequent
Election may be made after the tenth anniversary of his or her Separation from Service and provided that no Subsequent Election
may defer the Benefit Commencement Date of the Distribution Account beyond the later to occur of (A) the fifteenth (15th)
anniversary of the date which is six (6) months and one day following his or her Separation from Service or (B) his or her attainment
of age sixty-five (65).

 

(d)      Effect
of Intervening Events. The time and form of distribution of a Participant’s Flexible Distribution Accounts will be
superseded by an Intervening Event for which the Participant has made an election to that effect. If the Intervening Event occurs
before the Benefit Commencement Date of any such Flexible Distribution Account, an Intervening Event (i.e. the Participant’s
death and/or Disability if so elected) will result in payment of a single lump sum payment of the Participant’s remaining
Vested Interest in all such Flexible Distribution Accounts for which the Participant has made an Intervening Event election. Payment
will be made on a date selected by the Plan Administrator which is not later than ninety (90) days following the date of death
or Disability of the Participant.

 

(e)      Cashout
of Small Distribution Accounts. Notwithstanding any Deferral Election then in effect, distribution of small
Distribution Accounts shall be made in accordance with Section 7.2.

 

4.6.      Contribution;
Withholding and Other Limitations. Notwithstanding any Deferral Amount elected under Section 4.1(a) or any Match Amount
otherwise creditable to a Participant’s Distribution Accounts under Section 4.2, the Company may withhold from any Deferral
Amount or Match Amount such amounts as may be required for purposes of payment of the Participant’s Social Security, Medicare
and other applicable tax withholding. Furthermore, the Plan Administrator may limit the Deferral Amount elected by a Participant
to the extent required for purposes of the payment of any other legally required amounts (e.g., wage garnishment). Unless otherwise
determined by the Plan Administrator, in the event that taxes are withheld, the amount credited to the Participant’s Distribution
Accounts shall be reduced by the amount of such withholding.

 

Article
5

Distribution
ACCOUNTS

 

5.1.      Establishment
of Distribution Accounts and Liability. The Plan Administrator shall establish a Separation Distribution
Account and a Flexible Distribution Account in the name of each Participant on its books and records to account for the Deferral
Amounts and Match Amounts hypothetically contributed to the Plan and the hypothetical investment income, gains and/or losses on
such amounts. In addition, the Plan Administrator may establish such subaccounts as it shall deem appropriate from time to time.
All hypothetical amounts credited to the Accounts of any Participant, former Participant, or Beneficiary shall constitute a general,
unsecured liability of the Company and, if different, the Participating Company by which the Participant was employed, to such
Participant or the Participant’s Beneficiary.

 

5.2.      Crediting
Deferral Amounts and Match Amounts to Distribution Accounts. Unless the Plan Administrator determines otherwise,
amounts shall be credited to the appropriate Distribution Accounts at the following times:

 

    	 	17	 

     

    

 

(a)      Deferral
Amounts. Unless otherwise provided by the Plan Administrator through administrative action, Deferral Amounts shall be credited
to a Participant’s Distribution Accounts as of the date the Participant’s Annual Cash Retainer, Annual Committee Chair
Cash Retainer, Base Salary, AIP Compensation or LTIP Award is reduced pursuant to Section 4.1 hereof; and

 

(b)      Match
Amounts. Match Amounts shall be credited to the Participant’s Distribution Accounts on an annual basis following
the end of the applicable Plan Year or Performance Period or at such earlier time(s) as deemed appropriate by the Plan Administrator.
Match Amounts may be credited at different times based on the reason for the match (e.g., relating to compensation in excess of
the Code Section 401(a)(17) compensation limit or relating to excess aggregate contributions in the 401(k) Plan).

 

5.3.      Adjustment
of Distribution Accounts. The Distribution Accounts of Participants, former Participants, and Beneficiaries
of deceased Participants shall be adjusted from time to time to reflect the hypothetical contribution of Deferral Amounts and Match
Amounts, hypothetical investment income, gains and losses, and distributions made to the Participant or Beneficiary. The value
of each of a Participant’s Distribution Accounts shall be determined in accordance with procedures adopted by the Plan Administrator.

 

5.4.      Hypothetical
Investment of Distribution Accounts. Participant Distribution Accounts shall be hypothetically invested as
if such Distribution Accounts held actual assets rather than purely hypothetical assets and such assets were actually invested.

 

(a)      In
General. The Company shall designate actual investment funds or other reasonable measures for the hypothetical investment
of the amounts credited to the Participants’ Distribution Accounts. The investment funds and measures may include but shall
not be limited to the following types of funds and measures as determined by the Company:

 

(i)          Fixed
annual interest rate using a Moody’s bond rate subject to 120% of the applicable federal rates (AFR);

 

(ii)         Equity
index funds;

 

(iii)        Fixed
income index funds; and

 

(iv)        A
fund invested exclusively in Company Shares.

 

The Company
shall have the sole discretion to determine the number of investment funds or measures to be designated hereunder and the nature
of the funds or measures and may add, change or eliminate the investment funds or other measures designated hereunder from time
to time.

 

Subject to
the provisions of subsection (b), Participants and former Participants shall direct the hypothetical investment of their Distribution
Accounts among the investment funds and other measures designated by the Company as though such Distribution Accounts held actual
assets. Any such directions of hypothetical investment shall be subject to such rules as the Company and Plan Administrator may
prescribe, including, but not limited to, rules concerning the manner of providing hypothetical investment directions and the frequency
of changing such hypothetical investment directions. In the event a Participant or former Participant does not direct the hypothetical
investment of any portion of his or her Distribution Accounts, such undirected portion shall be deemed to be invested in one or
more default investment funds or other measures as the Plan Administrator determines.

 

    	 	18	 

     

    

 

(b)      Hypothetical
Investment of Deferred Company Share Awards. Notwithstanding any provisions of subsection (a) to the contrary, any Deferral
Amounts attributable to awards of Company Shares under the LTIP (or under any other plan or arrangement which is both payable in
Company Shares and from which amounts may be deferred under this Plan, and any successor to the LTIP or such other plan or arrangement
if such successor provides for payment in Company Shares) shall be deemed to be invested in a hypothetical fund of Company Shares
and when distributed, shall be distributed in the form of Company Shares. Investment diversification is not permitted for such
Deferred Amounts. The value of such hypothetical Company Shares shall be adjusted from time to time to reflect changes to the actual
Company Shares (e.g. stock splits), as the Plan Administrator shall determine, subject to the oversight of the Committee. Deferrals
shall be accounted for separately so that, for example, if dividends are payable on the Shares which are deferred under this Plan
by a particular Participant, they shall be paid when the deferred Shares are delivered to that Participant.

 

(c)      Hypothetical
Investment of Other Deferrals in Company Shares. If permitted in the discretion of the Plan Administrator, subject to the
oversight of the Committee, and subject to any special rules which the Plan Administrator may impose, any Deferral Amounts attributable
to compensation other than awards of Company Shares (e.g. deferrals of Base Salary, AIP Compensation, Annual Cash Retainers or
Annual Committee Chair Cash Retainers) may be invested in the hypothetical fund of Company Shares referred to in subsection (a)
and further described in subsection (b) as in any other fund provided for under the Plan except as otherwise provided in this subsection
(c). The special rules applicable to the hypothetical investment of cash Deferral Amounts in the fund of Company Shares are as
follows: (i) such election must be made as part of the initial deferral election, (ii) such hypothetical investment may not be
changed at any time so that investment diversification is not permitted for such Deferral Amounts, and (iii) when such Amounts
are distributed, they shall be distributed in the form of cash and not in the form of Company Shares. As provided in subsection
(b), if dividends are payable on actual Company Shares, hypothetical amounts equivalent to such dividends shall be paid in cash
when the Deferral Amounts are paid to the Participant as if the Participant had deferred specific Shares.

 

Article
6      

ELIGIBILITY
FOR BENEFITS

 

6.1.      In
General. A Participant shall become eligible for payment of his or her benefits in accordance with his or her Deferral
Elections and the Distribution Accounts to which his or her Deferral Amounts and Match Amounts are credited.

 

(a)      Separation
Distribution Account. A Participant who has a Separation Distribution Account shall receive distribution
of his or her Vested Interest in such Separation Distribution Account as of his or her Benefit Commencement Date following his
or her Separation from Service. Amounts distributed from a Participant’s Separation Distribution Account shall be payable
in cash in the time and manner elected in his or her Deferral Election, subject to the requirement of Section 5.4(b) that deferred
LTIP Awards of Company Shares be distributed in the form of Company Shares.

 

    	 	19	 

     

    

 

(b)      Flexible
Distribution Account. A Participant who has a Flexible Distribution Account shall receive distribution of
his or her Vested Interest in such Flexible Distribution Account as of his or her Benefit Commencement Date with respect to the
Flexible Date. Amounts distributed from a Participant’s Flexible Distribution Account shall be payable in the form of a single
lump sum payment of cash at the time elected in his or her Deferral Election, subject to the requirement of Section 5.4(b) that
deferred LTIP Awards of Company Shares be distributed in the form of Company Shares.

 

6.2.      Intervening
Events. Notwithstanding the general distribution rules set forth in Section 6.1 above, a Participant shall become eligible
for payment of his or her benefits in accordance with the special rules applicable to the following Intervening Events.

 

(a)      Disability.
A Participant’s initial Deferral Election may contain a separate distribution election to apply in the event of his or her
Disability (an Intervening Event) prior to commencement or complete distribution of his or her Distribution Accounts. Specifically,
a Participant may elect an immediate lump sum payment upon his or her Disability. For example, a Participant who makes a general
election that his or her Separation Distribution Account shall be paid in fifteen (15) annual installments may make a separate
election that if he or she becomes Disabled, his or her Separation Distribution Account will be paid in a single lump sum on a
date selected by the Plan Administrator which shall not be later than ninety (90) days following the date of the Participant’s
death.

 

(b)      Death.
A Participant’s initial Deferral Election may contain a separate distribution election to apply in the event of his or her
death prior to complete distribution of his or her Distribution Accounts. These elections with respect to the time and form of
payment to the Participant’s Beneficiary are described in Article 8.

 

(c)      Unforeseeable
Emergency. Notwithstanding the distribution elections made in a Participant’s Deferral Election, in the event of
an Unforeseeable Emergency, a Participant may apply for distribution from his or her Distribution Accounts of an amount, not in
excess of his or her Vested Interest, necessary to satisfy the emergency. An “Unforeseeable Emergency” is a severe
financial hardship to the Participant resulting from: (i) an illness or accident of the Participant, the Participant’s spouse,
the Participant’s Beneficiary or the Participant’s dependent (as defined in Code Section 152, without regard to section
152(b)(1), (b)(2), and (d)(1)(B)); (ii) loss of the Participant’s property due to casualty (including the need to rebuild
a home following damage to a home not otherwise covered by insurance, for example, not as a result of a natural disaster); or (iii)
other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant.
For example, the imminent foreclosure of or eviction from the service provider’s primary residence, the need to pay for medical
expenses, including non-refundable deductibles, as well as for the costs of prescription drug medication and the need to pay for
the funeral expenses of a spouse, a beneficiary, or a dependent (as defined in section 152, without regard to section 152(b)(1),
(b)(2), and (d)(1)(B)) may also constitute an Unforeseeable Emergency. Conversely, cash needs arising from events such as the purchase
of a residence or education expenses for a child, shall not be considered unforeseeable or the result of an emergency. The Plan
Administrator shall determine whether a Participant is faced with an Unforeseeable Emergency based on all relevant facts, circumstances
and supporting evidence presented to the Plan Administrator in the Participant’s application.

 

    	 	20	 

     

    

 

Distribution
on account of Unforeseeable Emergency may not be made to the extent that such emergency is or may be relieved through reimbursement
or compensation from insurance or otherwise, by liquidation of the Participant’s assets, to the extent the liquidation of
such assets would not cause severe financial hardship, or by cessation of deferrals under the Plan. Distributions because of an
Unforeseeable Emergency must be limited to the amount reasonably necessary to satisfy the emergency need (which may include amounts
necessary to pay any Federal, state, local, or foreign income taxes or penalties reasonably anticipated to result from the distribution).
The Plan Administrator shall determine the amount reasonably necessary to satisfy the Unforeseeable Emergency based on all relevant
facts, circumstances and supporting evidence presented to the Plan Administrator in the Participant’s application, and shall
take into account any amount that would available if the Plan Administrator were to cancel the Participant’s the current
Deferral Election upon an Unforeseeable Emergency distribution.  The Plan Administrator may, but is not required to, cancel
a Participant’s the current Deferral Election as a condition of an Unforeseeable Emergency distribution.

 

Distribution
on account of Unforeseeable Emergency shall be made in the form of a lump sum distribution of cash and/or Company Shares from the
Participant’s Distribution Accounts. Furthermore, the Participant’s Distribution Accounts shall be reduced by the amount
distributed.

 

6.3.      Forfeiture
Due to Termination for Cause or Breach of the Restrictive Covenants. Notwithstanding the foregoing provisions of this Article
6 to the contrary, upon the Separation from Service of a Participant for Cause such Participant shall forfeit his or her Match
Amounts, regardless of his or her Vested Interest in such amounts, and he or she shall thenceforth be ineligible to participate
in this Plan and, except as otherwise provided in this Section, in no event shall he or she be entitled to the receipt of any other
benefit hereunder. Furthermore, upon any finding that a Participant or former Participant has committed a Breach of the Restrictive
Covenants, such Participant or former Participant shall forfeit his or her Match Amounts, regardless of his or her Vested Interest
in such amounts and, except as otherwise provided in this Section, any future payments under the Plan shall be canceled.

 

Amounts previously
paid shall not be recoverable by the Company or any other Participating Company or Affiliate unless pursuant to the Company’s
general clawback policy. The Participant’s Deferral Amounts shall not be forfeited and shall be paid as otherwise provided
in this Plan. In the event of a disagreement between the Participant and the Committee as to whether a Participant’s Termination
of Employment was for Cause, or whether there has been a Breach of the Restrictive Covenants, or whether such a Breach of the Restrictive
Covenants shall have ceased, then, notwithstanding any contrary provision of this Plan, payment of disputed benefits hereunder
shall not be made until the dispute is resolved subject to the provisions of Code Section 409A.

 

Article
7      

BENEFIT DISTRIBUTIONS

 

7.1.      Application
for Benefit Distribution. Each Participant or Beneficiary who is eligible for a benefit payment or Unforeseeable Emergency
distribution shall apply therefor, in the time and manner prescribed by the Plan Administrator and in accordance with the provisions
of this Article 7. Unless permitted in accordance with Code Section 409A, failure to apply will not delay payment.

 

    	 	21	 

     

    

 

7.2.      Cashout
of Small Distribution Accounts. Notwithstanding any Deferral Election then in effect to the contrary, if,
as of a Participant’s Benefit Commencement Date, the combined value of his or her Distribution Accounts does not exceed the
dollar threshold described in Code Section 402(g)(1)(B), as such amount is adjusted from time to time ($18,000 in 2017), the combined
amount in all his or her Distribution Accounts shall be distributed in the form of a single lump sum payment as of such Benefit
Commencement Date.

 

7.3.      Prohibition
on Acceleration of Distributions. Except as provided in this Section and/or Code Section 409A, the Plan Administrator shall
not permit the acceleration of the time or schedule of any payment or amount scheduled to be paid pursuant to the terms of this
Plan, and no such payment may be made whether or not provided for under the terms of this Plan. Examples of accelerations which
are permissible (subject to the discretion of the Plan Administrator) follow:

 

(a)      The
occurrence of Intervening Event or cancellation of a deferral election due to Disability;

 

(b)      A
payment in compliance with a qualified domestic relations order, as described in Section 7.7;

 

(c)      A
payment of a cash out with a value not greater than the applicable dollar amount under Code Section 402(g)(1)(B), as described
in Section 7.2;

 

(d)      A
payment of employment taxes;

 

(e)      A
payment upon income inclusion under Code Section 409A;

 

(f)      A
cancellation by the Plan Administrator of deferrals in connection with an Unforeseeable Emergency (or a hardship distribution under
the 401(k) Plan) and distribution of amounts pursuant to such Unforeseeable Emergency;

 

(g)      A
payment due to the termination and liquidation of the Plan under certain circumstances;

 

(h)      A
payment of state, local or foreign taxes; and

 

(i)          Bona
fide disputes as to the right to payment.

 

In the event that the
Plan Administrator is considering any acceleration, the Plan Administrator shall determine whether such an acceleration is permissible
under Code Section 409A and whether modification of the Plan is required to permit such acceleration.

 

7.4.      Correction
of Amounts Payable. Anything contained in this Article 7 to the contrary notwithstanding, if, after the Separation from
Service of a Participant, the amount of benefits which would have been payable to the Participant under this Plan is subject to
any deduction, change, offset or correction, then the remaining amount payable to such Participant and the Participant’s
Beneficiary shall be adjusted to reflect any such deduction, change, offset or correction.

 

7.5.      Administrative
Delay of Payments. Payments under this Plan generally shall be made as of the time specified elsewhere in this Plan. Notwithstanding
the foregoing provision of this Section and such other provisions to the contrary, the requirement that a distribution commence
or be made on or before a particular date or during a particular period shall be considered to be satisfied if delayed due to a
reason permissible under Code Section 409A if paid by the time specified under Section 409A. For example, if calculation of the
amount to be paid on a specified Flexible Date is not administratively practicable by such date due to reasons beyond the control
of the Participant the payment will be considered timely if payment is made during the first taxable year of the Participant in
which the calculation is administratively practicable. This Section is not intended to permit a Participant, former Participant
or Beneficiary to elect to defer payment beyond the dates otherwise provided therefor in this Plan.

 

    	 	22	 

     

    

 

7.6.      No
Suspension of Benefits Due to Rehire. As of the Effective Date, Code Section 409A does not permit a “suspension
of benefits” on rehire. Therefore, unless otherwise required by Section 409A, if a Participant has a bona fide payment event,
the distribution resulting from such payment event shall not be suspended merely because the Participant is rehired after the Benefit
Commencement Date but before the distribution is completed.

 

7.7.      Consent
Not Required. No consent shall be required of any person (e.g., a spouse or beneficiary) in order for a Participant to
elect another form of benefits or to revoke such an election, except to the extent required by a qualified domestic relations order,
as described in Section 7.8.

 

7.8.      Qualified
Domestic Relations Orders. Notwithstanding any distribution provision to the contrary, the Plan Administrator shall make
payment to an alternate payee under a qualified domestic relations order. The Plan Administrator shall adopt a qualified domestic
relations order policy applicable to the Plan. To the extent appropriate and in compliance with Code Section 409A, the policy shall
parallel that established from time to time for the 401(k) Plan unless the Plan Administrator determines otherwise.

 

Article
8

DEATH
BENEFITS

 

8.1.      Death
On or After Benefit Commencement Date. In the event of the death of a Participant or former Participant with a Vested Interest
on or after the Participant’s Benefit Commencement Date, the Vested Interest shall be paid to the Participant’s Beneficiary
in the manner elected by the Participant in his or her Deferral Election, which may be the continuation of the payments as if the
Beneficiary were the Participant or as a single lump sum of all remaining payments. For example, a Participant who, in accordance
with his or her Deferral Election has begun receiving annual installments from his or her Separation Distribution Account, may
have also elected that such installment payments are to continue after his or her death or that the remainder of his or her Vested
Interest be paid in a single lump sum payment immediately following his or her death.

 

8.2.      Death
Prior To Benefit Commencement Date. Each Participant shall elect the manner in which his or her Distribution Accounts shall
be paid in the event of his or her death prior to the Participant’s Benefit Commencement Date. The Participant may make a
separate election with respect to his or her Separation Distribution Account and a separate election with respect to his or her
Flexible Distribution Accounts as follows:

 

(a)      Separation
Distribution Account. The Participant may elect that his or her Separation Distribution Account shall be payable as an
immediate lump sum payment following his or her death or be paid in the manner elected for payment upon Separation from Service
but with payments based on the Participant’s death rather than his or her Separation from Service and without the six (6)
month payment delay: and

 

    	 	23	 

     

    

 

(b)      Flexible
Distribution Account. The Participant may elect that his or her Flexible Distribution Accounts shall be payable as an immediate
lump sum payment following his or her death or be paid on the date(s) elected for payment in the Participant’s currently
effective Deferral Election.

 

8.3.      Automatic
Beneficiary. Unless a Participant or former Participant has designated a Beneficiary in accordance with the provisions
of Section 8.4 hereof, the Participant’s Beneficiary shall be deemed to be the person or persons in the first of the following
classes in which there are any survivors of such Participant or former Participant:

 

(a)      the
Participant’s spouse at the time of the Participant’s death;

 

(b)      the
Participant’s issue, per stirpes;

 

(c)      the
Participant’s parents; or

 

(d)      the
Participant’s estate.

 

8.4.      Designated
Beneficiary or Beneficiaries. A Participant or former Participant may, in the manner prescribed by the Plan Administrator,
designate a Beneficiary or Beneficiaries to receive any benefit payable under Section 8.1 or 8.2 hereof. In the event a Participant
or former Participant dies at a time when the Participant has a designation on file which does not dispose of the total benefit
distributable under Section 8.1 or 8.2 hereof, then the portion of such benefit distributable on behalf of said Participant
or former Participant, the disposition of which was not determined by the deceased Participant’s or former Participant’s
designation, shall be distributed to a Beneficiary determined under Section 8.3 hereof. Any ambiguity in a Participant’s
or former Participant’s Beneficiary designation shall be resolved by the Plan Administrator.

 

If a Participant is
receiving installment payments and the Participant’s Beneficiary dies after the Participant’s Benefit Commencement
Date, but prior to the death of the Participant, such Participant shall continue to receive the annual benefits payable under such
form and he or she shall be entitled to designate a new Beneficiary.

 

Article
9

RIGHTS
OF PARTICIPANTS AND BENEFICIARIES

 

9.1.      Creditor
Status of Participant and Beneficiary. This Plan constitutes the unfunded, unsecured promise of the Company and, if the
Participant is employed by another Participating Company, such Participating Company, to make benefit payments to such Participant,
former Participant or Beneficiary in the future and shall be a liability solely against the general assets of the Company and the
applicable Participating Company, if any. Neither the Company nor any Participating Company shall be required to segregate, set
aside or escrow any amounts for the benefit of any Participant, former Participant or Beneficiary. Each Participant, former Participant
and Beneficiary shall have the status of a general unsecured creditor of the Company and, if applicable, the other Participating
Company by which the Participant was employed, and may look only to the Company and applicable Participating Company, if any, and
their general assets for payment of benefits under this Plan.

 

    	 	24	 

     

    

 

9.2.      Rights
with Respect to a Trust. Any Trust, and any assets held thereby to assist the Company and the other Participating Companies
in meeting their obligations under this Plan, shall in no way be deemed to controvert the provisions of Section 9.1 hereof.

 

9.3.      Investments.
In its sole discretion, the Company may acquire (or direct the other Participating Companies to acquire) insurance policies, annuities
or other financial vehicles for the purpose of providing future assets to the Company or the other Participating Companies to meet
their anticipated liabilities under this Plan. Without limiting the generality of the foregoing, the Company and other Participating
Companies may (but need not) invest in investment funds to track the hypothetical investments of the Participants, former Participants
and Beneficiaries. Any policies, annuities or other investments shall at all times be and remain unrestricted general property
and assets of the Company or other Participating Companies or property of a Trust. Participants and Beneficiaries shall have no
rights, other than as general unsecured creditors, with respect to such policies, annuities or other acquired assets, including
any investment funds acquired to track their hypothetical investments and any investments held in a Trust.

 

Article
10

TRUST

 

10.1.     Establishment
of One or More Trusts. Notwithstanding any other provision or interpretation of this Plan, the Company may establish one
or more Trusts in which to hold cash, insurance policies or other assets to be used to make, or reimburse the Company and the other
Participating Companies for, payments to the Participants, former Participants or Beneficiaries of all or part of the benefits
under this Plan. Any Trust assets shall at all times remain subject to the claims of general creditors of the Company and the other
Participating Companies in the event of their insolvency as more fully described in the Trust.

 

10.2.     Obligations
of the Company. Notwithstanding the fact that a Trust may be established under Section 10.1 hereof, the Company and other
Participating Companies as applicable shall remain liable for paying the benefits under this Plan. However, any payment of benefits
to a Participant, former Participant or Beneficiary made by such a Trust shall satisfy the obligation of the Company and other
Participating Companies, as applicable, to make such payment to such person.

 

10.3.     Trust
Terms. A Trust established under Section 10.1 hereof may be revocable by the Company; provided, however, that such a Trust
may become irrevocable in accordance with its terms in the event of a Change in Control. Such a Trust may contain such other terms
and conditions as the Company may determine to be necessary or desirable. The Company may terminate or amend a Trust established
under Section 10.1 hereof at any time, and in any manner it deems necessary or desirable, subject to the preceding sentence and
the terms of any agreement under which any such Trust is established or maintained.

 

Article
11

CLAIMS
PROCEDURE

 

11.1.     Claim
for Benefits. Any application for benefits made in accordance with Section 7.1 shall be considered a claim for benefits
hereunder. The Plan Administrator shall process each such claim and determine entitlement to benefits within thirty (30) days
following its receipt of a completed application for benefits unless special circumstances require an extension of time for processing
the claim. If such an extension of time for processing is required, written notice of the extension shall be furnished to the
claimant prior to the termination of the initial thirty (30) day period. In no event shall such extension exceed a period of thirty
(30) days from the end of such initial period. The extension notice shall indicate the special circumstances requiring an extension
of time and the date as of which the Plan Administrator expects to render the final decision.

 

    	 	25	 

     

    

 

If such a claim is
wholly or partially denied by the Plan Administrator, the Plan Administrator shall notify the claimant of the denial of the claim
in writing, delivered in person or mailed by first class mail to the claimant’s last known address. Such notice of denial
shall contain:

 

(a)      the
specific reason or reasons for denial of the claim;

 

(b)      a
reference to the relevant Plan provisions upon which the denial is based;

 

(c)      a
description of any additional material or information necessary for the claimant to perfect the claim, together with an explanation
of why such material or information is necessary; and

 

(d)      an
explanation of this Plan’s claim review procedure.

 

The interpretations,
determinations and decisions of the Plan Administrator shall be final and binding upon all persons with respect to any right, benefit
and privilege hereunder, subject to the review procedures set forth in this Article 11.

 

11.2.     Request
for Review of a Denial of a Claim for Benefits. Any claimant or any authorized representative of such claimant whose claim
for benefits under this Plan has been denied or deemed denied, in whole or in part, by the Plan Administrator may upon written
notice delivered to the Appeals Committee request a review by the Appeals Committee of such denial of the Participant’s
claim for benefits. Such claimant shall have sixty (60) days from the date the claim is deemed denied, or sixty (60) days from
receipt of the notice denying the claim, as the case may be, in which to request such a review. The claimant’s notice must
specify the relief requested and the reason such claimant believes the denial should be reversed.

 

11.3.      Appeals
Procedure. The Appeals Committee is hereby authorized to review the facts and relevant documents, including this Plan,
to interpret this Plan and other relevant documents and to render a decision on the appeal of the claimant. Such review may be
made by written briefs submitted by the claimant and the Plan Administrator or at a hearing, or by both, as shall be deemed necessary
by the Appeals Committee. Upon receipt of a request for review, the Appeals Committee shall schedule a hearing to be held (subject
to reasonable scheduling conflicts) not less than thirty (30) nor more than forty-five (45) days from the receipt of such request.
The date and time of such hearing shall be designated by the Appeals Committee upon not less than fifteen (15) days’ notice
to the claimant and the Plan Administrator unless both of them accept shorter notice. The notice shall specify that such claimant
must indicate in writing, at least five (5) days in advance of the time established for such hearing, the claimant’s intention
to appear at the appointed time and place, or the hearing will automatically be canceled. The reply shall specify any other persons
who will accompany the claimant to the hearing, or such other persons will not be admitted to the hearing. The Appeals Committee
shall make every effort to schedule the hearing on a day and at a time which is convenient to both the claimant and the Plan Administrator.
The hearing will be scheduled at the Company’s headquarters unless the Appeals Committee determines that another location
would be more appropriate. The claimant, or the claimant’s duly authorized representative, may review all pertinent documents
relating to the claim in preparation for the hearing and may submit issues and comments in writing prior to or during the hearing.

 

    	 	26	 

     

    

 

11.4.     Decision
upon Review of Denial of Claim for Benefits. After the review has been completed, the Appeals Committee shall render a
decision in writing, a copy of which shall be sent to both the claimant and the Plan Administrator. In making its decision the
Appeals Committee shall have full power, authority, and discretion to determine any and all questions of fact, resolve all questions
of interpretation of this instrument or related documents which may arise under any of the provisions of this Plan or such documents
as to which no other provision for determination is made hereunder, and exercise all other powers and discretions necessary to
be exercised under the terms of this Plan which it is herein given or for which no contrary provision is made and to determine
the right to benefits of, and the amount of benefits, if any, payable to, any person in accordance with the provisions of this
Plan. The Appeals Committee shall render a decision on the claim review promptly, but not more than sixty (60) days after the
receipt of the claimant’s request for review, unless a hearing is held, in which case the sixty (60) day period shall be
extended to thirty (30) days after the date of the hearing. Such decision shall include specific reasons for the decision, written
in a manner calculated to be understood by the claimant, and shall contain specific references to the pertinent provisions of
the Plan and related documents upon which the decision is based. The decision on review shall be furnished to the claimant within
the appropriate time described above. There shall be no further appeal from a decision rendered by the Appeals Committee. The
decision of the Appeals Committee shall be final and binding in all respects on the Plan Administrator, the Company and the claimant.
Except as otherwise provided by law, the review procedures of this Article 11 shall be the claimant’s sole and exclusive
remedy and shall be in lieu of all actions at law, in equity, pursuant to arbitration or otherwise.

 

11.5.      Establishment
of Appeals Committee. The Committee shall appoint the members of an Appeals Committee which shall consist of three (3)
or more members. The members of the Appeals Committee shall remain in office at the will of the Committee, and the Committee, from
time to time, may remove any of said members with or without cause. A member of the Appeals Committee may resign upon written notice
to the remaining member or members of the Appeals Committee and to the Committee, respectively. The fact that a person is a Participant
or a former Participant or a prospective Participant shall not disqualify the claimant from acting as a member of the Appeals Committee,
nor shall any member of the Appeals Committee be disqualified from acting on any question because of the claimant’s interest
therein, except that no member of the Appeals Committee may act on any claim which such member has brought as a Participant, former
Participant or Beneficiary under this Plan. In case of the death, resignation or removal of any member of the Appeals Committee,
the remaining members shall act until a successor-member shall be appointed by the Committee. At the Plan Administrator’s
request, the Committee shall notify the Plan Administrator in writing of the names of the original members of the Appeals Committee,
of any and all changes in the membership of the Appeals Committee, of the member designated as Chairman, and the member designated
as Secretary, and of any changes in either office. Until notified of a change, the Plan Administrator shall be protected in assuming
that there has been no change in the membership of the Appeals Committee or the designation of Chairman or of Secretary since the
last notification was filed with it. The Plan Administrator shall be under no obligation at any time to inquire into the membership
of the Appeals Committee or its officers. All communications to the Appeals Committee shall be addressed to its Secretary at the
address of the Company.

 

    	 	27	 

     

    

 

11.6.     Operations
of Appeals Committee. On all matters and questions, a decision of a majority of the members of the Appeals Committee shall
govern and control. Meetings may be held in person or by electronic means. In lieu of a meeting, decisions may be made by unanimous
written consent. The Appeals Committee shall appoint one of its members to act as its Chairman and another member to act as Secretary.
The terms of office of these members shall be determined by the Appeals Committee, and either or both the Secretary and Chairman
may be removed by the other members of the Appeals Committee for any reason which such other members may deem just and proper.
The Secretary shall do all things directed by the Appeals Committee. Although the Appeals Committee shall act by decision of a
majority of its members as above provided, nevertheless in the absence of written notice to the contrary, every person may deal
with the Secretary and consider the claimant’s acts as having been authorized by the Appeals Committee. Any notice served
or demand made on the Secretary shall be deemed to have been served or made upon the Appeals Committee.

 

11.7.      Disability
Claim. If a claim requires a determination of Disability, these procedures will be administered to comply with applicable
Department of Labor Regulations to the extent applicable.

 

11.8.      Legal
Action after Claims Procedure. These claims procedures must be exhausted prior to any legal action against the Plan or
any other person by or on behalf of the claimant. Any legal action must be filed within one (1) year after the exhaustion of the
claims and appeals process.

 

11.9.      Alternative
Claims Procedure. The Company may adopt and alternative claims procedure in lieu of the procedure specified in this Plan.
Such alternative may include the claims procedure of the 401(k) Plan to the extent the provisions thereof shall be applicable.

 

Article
12

ADMINISTRATION

 

12.1.      Appointment
of Plan Administrator. The Committee shall appoint the Plan Administrator which shall be any person(s), corporation or
partnership (including the Company itself) as said Committee shall deem desirable in its sole discretion. The Plan Administrator
may be removed or resign upon thirty (30) days’ written notice or such lesser period of notice as is mutually agreeable.
Unless the Committee appoints another Plan Administrator, the Company shall be the Plan Administrator.

 

12.2.     Powers
and Duties of the Plan Administrator. Except as expressly otherwise set forth herein, the Plan Administrator shall have
the authority and responsibility granted or imposed on an “administrator” by ERISA. The Plan Administrator shall determine
any and all questions of fact, resolve all questions of interpretation of this Plan which may arise under any of the provisions
of this Plan or any related document as to which no other provision for determination is made hereunder, and exercise all other
powers and discretions necessary to be exercised under the terms of this Plan which it is herein given or for which no contrary
provision is made. The Plan Administrator shall have full power and discretion to interpret this Plan and related documents, to
resolve ambiguities, inconsistencies and omissions, to determine any question of fact, and to determine the rights and benefits,
if any, of any Participant or other applicant, in accordance with the provisions of this Plan. Subject to the provisions of any
claims procedure hereunder, the Plan Administrator’s decision with respect to any matter shall be final and binding on all
parties concerned, and neither the Plan Administrator nor any of its directors, officers, employees or delegates nor, where applicable,
the directors, officers or employees of any delegate, shall be liable in that regard except for gross abuse of the discretion given
it and them under the terms of this Plan. All determinations of the Plan Administrator shall be made in a uniform, consistent and
nondiscriminatory manner with respect to all Participants, former Participants and Beneficiaries in similar circumstances. The
Plan Administrator, from time to time, may designate one or more persons or agents to carry out any or all of its duties hereunder.

 

    	 	28	 

     

    

 

12.3.     Delegation
of Authority. The Committee, or the Plan Administrator, with the approval of the Committee, may retain one or more third
party vendors to aid in administration of the Plan and may delegate administrative authority to such vendor(s).

 

12.4.     Engagement
of Advisors. The Plan Administrator may employ actuaries, attorneys, accountants, brokers, employee benefit consultants,
and other specialists to render advice concerning any responsibility the Plan Administrator, Appeals Committee or Committee has
under this Plan. Such persons may also be advisors to the Company or any other Participating Company.

 

12.5.     Payment
of Costs and Expenses. The costs and expenses incurred in the administration of this Plan shall be paid in either of the
following manners as determined by the Company in its sole discretion:

 

(a)      the
expenses may be paid directly by one or more of the Participating Companies; or

 

(b)      the
expenses may be paid out of the Trust, if any (subject to any restriction contained in such Trust or required by law).

 

Such costs and expenses
include those incident to the performance of the responsibilities of the Plan Administrator, Appeals Committee or Committee, including
but not limited to, claims administration fees and costs, fees of accountants, legal counsel and other specialists, bonding expenses,
and other costs of administering this Plan. Notwithstanding the foregoing, in no event will any person serving in the capacity
of Plan Administrator, Appeals Committee member or Committee member who is a full-time employee of a Participating Company be entitled
to any compensation for such services.

 

Article
13

AMENDMENT
AND TERMINATION

 

13.1.      Power
to Amend. The Company reserves the right to amend the Plan retroactively or otherwise, in any manner that it deems advisable,
by action of its Board. No amendment shall, without the prior written consent of the Participant, former Participant or Beneficiary,
as the case may be, affect the amount, Vested Percentage or form payment of the Participant’s, former Participant’s
or Beneficiary’s benefits hereunder determined as of the date such amendment becomes effective nor the right of the Participant,
former Participant or Beneficiary to receive such benefits, except to the extent any of the foregoing may be required or permissible
under the law.

 

13.2.      Power
to Terminate. The Company reserves the right to terminate the Plan at any time that it deems advisable, by action of its
Board. No termination shall, without the prior written consent of the Participant, former Participant or Beneficiary, as the case
may be, affect the amount, Vested Percentage or form payment of the Participant’s, former Participant’s or Beneficiary’s
benefits hereunder determined prior to such termination becomes effective nor the right of the Participant, former Participant
or Beneficiary to receive such benefits, except to the extent any of the foregoing may be required or permissible under the law.
Except as otherwise permissible under the law, in accordance with Treasury Regulation 1.409A-3(j)(4)(ix), Plan termination may
occur only (a) in connection with certain corporate liquidations or with the approval of a bankruptcy court, (b) within one month
before or twelve (12) months after a change in control event as defined in Treasury Regulation 1.409A-3(i)(5) or (c) in accordance
with the provisions of Treasury Regulation 1.409A-3(j)(4)(ix)(C).

 

    	 	29	 

     

    

 

13.3.     Effects
of Plan Termination. If this Plan is terminated then, on and after the effective date of such termination, all deferrals
hereunder shall cease. All amounts then credited to each Participant’s Distribution Accounts shall become fully vested.
To the extent permitted under Code Section 409A concerning plan terminations and liquidations, upon Plan termination, each Participant’s
Distribution Accounts shall be distributed in the form of a single lump sum payment of cash and/or Company Shares, notwithstanding
any distribution elections then outstanding.

 

13.4.     No
Liability for Plan Amendment or Termination. Neither the Company, nor any other Participating Company, nor the Board, Committee
or any officer, Employee or Director thereof shall have any liability as a result of the amendment or termination of this Plan.
Without limiting the generality of the foregoing, neither the Company any other Participating Company, nor the Board, Committee
nor any officer, Employee or Director thereof shall have any liability for to any Participant for terminating this Plan notwithstanding
the fact that a Participant may have expected to make future deferrals and have future allocations made on the Participant’s
behalf hereunder had this Plan remained in effect.

 

Article
14

PARTICIPATING
COMPANIES

 

14.1.      List
of Participating Companies. The Participating Companies as of the Effective Date are as follows:

 

	Participating Companies	Adoption Date	Termination Date
	 	 	 
	Stoneridge, Inc.	June 1, 2017	
	Stoneridge Control Devices, Inc.	June 1, 2017	 
	Stoneridge Electronics, Inc.             	June 1, 2017	 

 

14.2.     Designation
of Participating Companies. A Subsidiary, if organized under the laws of the United States of America or any State, may
become a Participating Company under this Plan at any time. Such a Subsidiary, may become a Participating Company by administrative
action by the Company, without the need for amendment hereof. Thereafter Section 14.1 may be amended to document the addition
of such Participating Company. Such amendment shall specify the name of the Participating Company, its Adoption Date and other
pertinent information. The coverage of an Employee of a Subsidiary with the cooperation of the Subsidiary shall be deemed the
adoption of this Plan by such Subsidiary and the agreement to its terms as the same may be amended from time to time.

 

14.3.     Adoption
of Supplements. The Company may determine that special provisions shall be applicable to some or all of the Participants
of a Participating Company, either in addition to or in lieu of certain provisions of this Plan. In such event, the Company shall
adopt a Supplement with respect to the Participating Company which employs such individuals which Supplement shall specify by
name or otherwise the Employees of the Participating Company covered thereby and the special provisions applicable to such Employees.
Any Supplement shall be deemed to be a part of this Plan solely with respect to the Employees specified therein.

 

    	 	30	 

     

    

 

14.4.     Amendment
of Supplements. The Company, from time to time, may amend, modify or terminate any Supplement; provided, however, that
no such action shall operate so as to deprive any Participant who was covered by such Supplement of any vested rights to which
the Participant is entitled under this Plan or the Supplement.

 

14.5.     Termination
of Participation of Participating Company. A Participating Company whose status as a Subsidiary terminates shall no longer
be deemed a Participating Company as of the date of the termination of such Subsidiary status. Alternatively, the Company may terminate
this Plan with respect to Participants employed by any Participating Company by an amendment to Section 14.1 hereof which specifies
the name of the Participating Company, and its Termination Date, and other pertinent information. Distribution of the benefits
of Participants employed by said Participating Company shall thereupon be made in the manner provided in Article 13 hereof.

 

14.6.     Delegation
of Authority. The Company is hereby fully empowered to act on behalf of itself and the other Participating Companies as
it may deem appropriate in maintaining the Plan. Without limiting the generality of the foregoing, such actions include obtaining
and retaining relevant tax advantages for the Plan. Furthermore, the adoption by the Company of any amendment to the Plan or the
termination thereof, will constitute and represent, without any further action on the part of any Participating Company, the approval,
adoption, ratification or confirmation by each Participating Company of any such amendment or termination. In addition, the appointment
of or removal by the Company of any member of the Appeals Committee, any Plan Administrator or other person under the Plan shall
constitute and represent, without any further action on the part of any Participating Company, the appointment or removal by each
Participating Company of such person.

 

14.7.     Amendment
Restrictions and Procedures. Amendments authorized by this Article 14, including those adding or removing a Participating
Company, shall be subject to the provisions of Article 13 hereof dealing with amendment and termination of the Plan, as applicable.

 

Article
15

MISCELLANEOUS

 

15.1.     Non-Alienation.
Subject to Section 7.7 regarding qualified domestic relations orders, no benefits or amounts credited to a Participant’s
Distribution Accounts under this Plan shall be subject in any manner to be anticipated, alienated, sold, transferred, assigned,
pledged, encumbered, attached, garnished or charged in any manner (either at law or in equity), and any attempt to so anticipate,
alienate, sell, transfer, assign, pledge, encumber, attach, garnish or charge the same shall be void; nor shall any such benefits
or amounts in any manner be liable for or subject to the debts, contracts, liabilities, engagements or torts of the person entitled
to such benefits or amounts as are herein provided for him or her. Notwithstanding any other provision or interpretation of this
Plan, the Company may establish a Trust in which to hold cash, insurance policies or other assets to be used to make, or reimburse
the Participating Companies for, payments to the Participants or Beneficiaries of all or part of the benefits under this Plan.
Any Trust assets shall at all times remain subject to the claims of general creditors of the Participating Companies in the event
of their insolvency as more fully described in the Trust.

 

15.2.     Tax
Withholding. The Company or any other Participating Company may withhold from a Participant’s compensation or any
payment made by it under this Plan such amount or amounts as may be required for purposes of complying with the tax withholding
or other provisions of the Code or the Social Security Act or any state or local income or employment tax act or for purposes
of paying any estate, inheritance or other tax attributable to any amounts payable hereunder.

 

    	 	31	 

     

    

 

15.3.     Incapacity
and Facility of Payment. If the Plan Administrator determines that any Participant or other person entitled to payments
under this Plan is incompetent by reason of physical or mental disability and is consequently unable to give a valid receipt for
payments made hereunder, or is a minor, the Plan Administrator may order the payments becoming due to such person to be made to
another person for the Participant’s benefit, without responsibility on the part of the Plan Administrator to follow the
application of amounts so paid. Payments made pursuant to this Section shall completely discharge the Plan Administrator, the
Company and the other Participating Companies and the Appeals Committee and, as applicable, the employees and directors thereof
with respect to such payments.

 

15.4.     Administrative
Forms. All applications, elections and designations in connection with this Plan made by a Participant or other
person shall become effective only when duly executed on forms provided by the Plan Administrator and filed with the Plan Administrator.

 

15.5.     Independence
of Plan. Except as otherwise expressly provided herein, this Plan shall be independent of, and in addition to, any other
benefit agreement or plan of a Participating Company or any rights that may exist from time to time thereunder.

 

15.6.     No
Employment Rights Created. This Plan shall not be deemed to constitute a contract of employment between the Company or
any other Participating Company and any Participant, nor confer upon any Participant the right to be retained in the service of
the Company or any other Participating Company for any period of time, nor shall any provision hereof restrict the right of any
Company to discharge or otherwise deal with any Participant.

 

15.7.     No
Responsibility for Legal or Tax Effect. Neither the Company, nor any other Participating Company, nor the Board, the Committee,
the Appeals Committee, nor any officer, Employee or Director of any of them, makes any representations or warranties, express
or implied, or assumes any responsibility concerning the legal, tax, or other implications or effects of this Plan. Without limiting
the generality of the foregoing, neither the Company nor any other Participating Company, nor the Board, the Committee, the Appeals
Committee, nor any officer, Employee or Director of any of them have any liability for any tax liability which a Participant may
incur resulting from participation in this Plan or the payment of benefits hereunder.

 

15.8.     Limitation
of Duties. The Company, the Participating Companies, the Committee, the Plan Administrator, the Appeals Committee, and
their respective officers, members, employees and agents shall have no duty or responsibility under this Plan other than the duties
and responsibilities expressly assigned to them herein or delegated to them pursuant hereto. None of them shall have any duty
or responsibility with respect to the duties or responsibilities assigned or delegated to another of them.

 

15.9.     Limitation
of Company Liability. Any right or authority exercisable by the Company, pursuant to any provision of this Plan, shall
be exercised in the Company’s capacity as sponsor of this Plan, or on behalf of the Company in such capacity, and not in
a fiduciary capacity, and may be exercised without the approval or consent of any person in a fiduciary capacity. Neither the Company
nor any other Participating Company, nor any of their respective officers, Employees or Directors, shall have any liability to
any party for its exercise of any such right or authority.

 

    	 	32	 

     

    

 

15.10.   Successors.
The terms and conditions of this Plan shall inure to the benefit of and bind the Company, the other Participating Companies, the
Participants, former Participants, their Beneficiaries, and the successors and personal representatives of the Participants, former
Participants and their Beneficiaries.

 

15.11.  Controlling
Law. This Plan shall be construed in accordance with the laws of the State of Ohio, without regard to its conflict of laws
rules to the extent not preempted by laws of the United States.

 

15.12.  Headings
and Titles. The Section headings and titles of Articles used in this Plan are for convenience of reference only and shall
not be considered in construing this Plan.

 

15.13.  General
Rules of Construction. The masculine gender shall include the feminine and neuter, and vice versa, as the context shall
require. The singular number shall include the plural, and vice versa, as the context shall require. The present tense of a verb
shall include the past and future tenses, and vice versa, as the context may require.

 

15.14.   Execution
in Counterparts. This Plan may be executed in any number of counterparts each of which shall be deemed an original and
said counterparts shall constitute but one and the same instrument and may be sufficiently evidenced by any one counterpart.

 

15.15.  Severability.
In the event that any provision or term of this Plan, or any agreement or instrument required by the Plan Administrator hereunder,
is determined by a judicial, quasi-judicial or administrative body to be void or not enforceable for any reason, all other provisions
or terms of this Plan or such agreement or instrument shall remain in full force and effect and shall be enforceable as if such
void or unenforceable provision or term had never been a part of this Plan, or such agreement or instrument except as to the extent
the Plan Administrator determines such result would have been contrary to the intent of the Company in establishing and maintaining
this Plan.

 

15.16.   Indemnification.
The Company and the other Participating Companies shall jointly and severally indemnify, defend, and hold harmless any Employee,
officer or director of the Company or any other Participating Company for all acts taken or omitted in carrying out the responsibilities
of the Company, Participating Company, Board, Committee, Plan Administrator or Appeals Committee under the terms of this Plan or
other responsibilities imposed upon such individual by law. This indemnification for all such acts taken or omitted is intentionally
broad, but shall not provide indemnification for any civil penalty that may be imposed by law, nor shall it provide indemnification
for embezzlement or diversion of Plan funds for the benefit of any such individual. The Participating Companies shall jointly and
severally indemnify (including advancement of funds) to any such individual for expenses of defending an action by a Participant,
former Participant, Beneficiary, service provider, government entity or other person, including all legal fees and other costs
of such defense. The Participating Companies shall also reimburse any such an individual for any monetary recovery in a successful
action against such individual in any federal or state court or arbitration. In addition, if a claim is settled out of court with
the concurrence of the Company, the Company and the other Participating Companies shall jointly and severally indemnify any such
individual for any monetary liability under any such settlement, and the expenses thereof. Such indemnification will not be provided
to any person who is not a present or former officer, Employee or director of the Company or any other Participating Company nor
shall it be provided for any claim by the Company or any other Participating Company against any such person.

 

    	 	33	 

     

    

 

 

15.17.   Paperless
Administration. If this Plan requires that an action shall be in writing, then, to the extent permitted and effective pursuant
to law, and approved by the Plan Administrator on a nondiscriminatory basis, such action may be taken in person, telephonically
or electronically in lieu of such written action.

 

IN WITNESS WHEREOF,
STONERIDGE, INC., the Company, by its appropriate officer duly authorized, has caused this Plan to be executed and adopted as of
May 30, 2017.

  

	 	STONERIDGE, INC.
	 	 
	 	By:	/s/ Jonathan B. DeGaynor
	 		Jonathan B. DeGaynor
	 	 
	 	Its:	President and Chief Executive Officer

 

    	 	34EX-10.1

 Exhibit 10.1 

Execution Version 

ALDEYRA THERAPEUTICS, INC. 

Shares of Common Stock 
 (par value
$0.001 per share) 
 Controlled Equity OfferingSM 

Sales Agreement 

June 2, 2017 
 Cantor Fitzgerald &
Co. 
 499 Park Avenue 
 New York, NY 10022 

Ladies and Gentlemen: 
 Aldeyra Therapeutics,
Inc., a Delaware corporation (the “Company”), confirms its agreement (this “Agreement”) with Cantor Fitzgerald & Co. (the “Agent”), as follows: 

1.    Issuance and Sale of Shares. The Company agrees that, from time to time during the term of this Agreement, on
the terms and subject to the conditions set forth herein, it may issue and sell through the Agent, shares of common stock (the “Placement Shares”) of the Company, par value $0.001 per share (the “Common
Stock”); provided, however, that in no event shall the Company issue or sell through the Agent such number or dollar amount of Placement Shares that would (a) exceed the number or dollar amount of shares of Common
Stock registered on the effective Registration Statement (defined below) pursuant to which the offering is being made, (b) exceed the number of authorized but unissued shares of Common Stock (less shares of Common Stock issuable upon exercise,
conversion or exchange of any outstanding securities of the Company or otherwise reserved from the Company’s authorized capital stock), (c) exceed the number or dollar amount of shares of Common Stock permitted to be sold under Form S-3 (including General Instruction I.B.6 thereof, if applicable) or (d) exceed the number or dollar amount of shares of Common Stock for which the Company has filed a Prospectus Supplement (defined below) (the
lesser of (a), (b), (c) and (d), the “Maximum Amount”). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this
Section 1 on the amount of Placement Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that the Agent shall have no obligation in connection with such compliance. The issuance
and sale of Placement Shares through the Agent will be effected pursuant to the Registration Statement (as defined below) filed by the Company and has been declared effective by the Securities and Exchange Commission (the
“Commission”) on September 1, 2015, although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue Common Stock. 

The Company has filed, in accordance with the provisions of the Securities Act of 1933, as amended (the “Securities
Act”) and the rules and regulations thereunder (the “Securities Act Regulations”), with the Commission a registration statement on Form S-3 (File No. 333-206539), including a base prospectus, relating to certain securities, including the Placement Shares to be issued from time to time by the Company, and which incorporates by reference

 
certain documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and
the rules and regulations thereunder. The Company has prepared a prospectus or a prospectus supplement to the base prospectus included as part of the registration statement, which prospectus or prospectus supplement relates to the Placement Shares
to be issued from time to time by the Company (the “Prospectus Supplement”). The Company will furnish to the Agent, for use by the Agent, copies of the prospectus included as part of such registration statement, as
supplemented, by the Prospectus Supplement, relating to the Placement Shares to be issued from time to time by the Company. The Company may file one or more additional registration statements from time to time that will contain a base prospectus and
related prospectus or prospectus supplement, if applicable (which shall be a Prospectus Supplement), with respect to the Placement Shares. Except where the context otherwise requires, such registration statement(s), including all documents filed as
part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act Regulations or deemed to be a
part of such registration statement pursuant to Rule 430B of the Securities Act Regulations, is herein called the “Registration Statement.” The base prospectus or base prospectuses, including all documents incorporated
therein by reference, included in the Registration Statement, as it may be supplemented, if necessary, by the Prospectus Supplement, in the form in which such prospectus or prospectuses and/or Prospectus Supplement have most recently been filed by
the Company with the Commission pursuant to Rule 424(b) under the Securities Act Regulations, together with the then issued Issuer Free Writing Prospectus(es) (defined below), is herein called the “Prospectus.” 

Any reference herein to the Registration Statement, any Prospectus Supplement, Prospectus or any Issuer Free Writing Prospectus shall be
deemed to refer to and include the documents, if any, incorporated by reference therein (the “Incorporated Documents”), including, unless the context otherwise requires, the documents, if any, filed as exhibits to such
Incorporated Documents. Any reference herein to the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement, any Prospectus Supplement, the Prospectus or any Issuer Free Writing Prospectus
shall be deemed to refer to and include the filing of any document under the Exchange Act on or after the most-recent effective date of the Registration Statement, or the date of the Prospectus Supplement, Prospectus or such Issuer Free Writing
Prospectus, as the case may be, and incorporated therein by reference. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to include the most recent
copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and Retrieval system, or if applicable, the Interactive Data Electronic Application system when used by the Commission (collectively, “EDGAR”).

 2.    Placements. Each time that the Company wishes to issue and sell Placement Shares hereunder (each, a
“Placement”), it will notify the Agent by email notice (or other method mutually agreed to in writing by the parties) of the number of Placement Shares to be issued, the time period during which sales are requested to be
made, any limitation on the number of Placement Shares that may be sold in any one day and any minimum price below which sales may not be made (a “Placement Notice”), the form of which is attached hereto as Schedule 1.
The Placement Notice shall originate from any of the individuals from the Company 

  
 -2- 

 
set forth on Schedule 3 (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from the Agent set forth
on Schedule 3, as such Schedule 3 may be amended from time to time. The Placement Notice shall be effective unless and until (i) the Agent declines in writing (including by email) to accept the terms contained therein for any
reason, in its sole discretion, within two (2) Business Days (as defined below) of receipt of such Placement Notice, (ii) the entire amount of the Placement Shares thereunder have been sold, (iii) the Company suspends or terminates
the Placement Notice or (iv) this Agreement has been terminated under the provisions of Section 12. The amount of any discount, commission or other compensation to be paid by the Company to Agent in connection with the
sale of the Placement Shares shall be calculated in accordance with the terms set forth in Schedule 2. It is expressly acknowledged and agreed that neither the Company nor the Agent will have any obligation whatsoever with respect to a
Placement or any Placement Shares unless and until the Company delivers a Placement Notice to the Agent and the Agent does not decline such Placement Notice pursuant to the terms set forth above, and then only upon the terms specified therein and
herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control. 

3.    Sale of Placement Shares by Agent. Subject to the provisions of Section 5(a), the Agent, for the
period specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of the NASDAQ Capital Market
(the “Exchange”), to sell the Placement Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice. The Agent will provide written confirmation to the Company no later than the
opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares sold on such day, the compensation payable by the Company to
the Agent pursuant to Section 2 with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by the Agent (as set forth in Section 5(b)) from
the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice, the Agent may sell Placement Shares by any method permitted by law deemed to be an “at the market offering” as defined in
Rule 415(a)(4) of the Securities Act Regulations, including sales made directly on or through the Exchange or any other existing trading market for the Common Stock, in negotiated transactions at market prices prevailing at the time of sale or
at prices related to such prevailing market prices and/or any other method permitted by law. “Trading Day” means any day on which Common Stock is traded on the Exchange. 

4.    Suspension of Sales. The Company or the Agent may, upon notice to the other party in writing (including by
email correspondence to each of the individuals of the other party set forth on Schedule 3, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by
telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on Schedule 3), suspend any sale of Placement Shares (a
“Suspension”); provided, however, that such Suspension shall not affect or impair any party’s obligations with respect to any Placement Shares sold hereunder prior to the receipt of such notice. While a
Suspension is in effect any obligation under Sections 7(l), 7(m), and 7(n) with respect to the delivery of certificates, opinions, or comfort letters to the Agent, shall be waived. Each of the parties agrees that no such notice
under this Section 4 shall be effective against any other party unless it is made to one of the individuals named on Schedule 3 hereto, as such Schedule may be amended from time to time. 

  
 -3- 

 5.    Sale and Delivery to the Agent; Settlement. 

(a)    Sale of Placement Shares. On the basis of the representations and warranties herein contained and
subject to the terms and conditions herein set forth, upon the Agent’s acceptance of the terms of a Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in
accordance with the terms of this Agreement, the Agent, for the period specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable law, regulations and rules
to sell such Placement Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice. The Company acknowledges and agrees that (i) there can be no assurance that the Agent will be successful in selling
Placement Shares, (ii) the Agent will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure by the Agent to use its commercially reasonable efforts
consistent with its normal trading and sales practices and applicable law, regulations and rules to sell such Placement Shares as required under this Agreement and (iii) the Agent shall be under no obligation to purchase Placement Shares on a
principal basis pursuant to this Agreement, except as otherwise agreed by the Agent and the Company. 

(b)    Settlement of Placement Shares. Unless otherwise specified in the applicable Placement Notice,
settlement for sales of Placement Shares will occur on the third (3rd) Trading Day (or such earlier day as is industry practice for regular-way trading)
following the date on which such sales are made (each, a “Settlement Date”). The Agent shall notify the Company of each sale of Placement Shares no later than the opening of the Trading Day immediately following the Trading
Day on which it has made sales of Placement Shares hereunder. The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold (the “Net Proceeds”) will be equal to the
aggregate sales price received by the Agent, after deduction for (i) the Agent’s commission, discount or other compensation for such sales payable by the Company pursuant to Section 2 hereof, and (ii) any
transaction fees imposed by any Governmental Authority in respect of such sales. 
 (c)     Delivery of
Placement Shares. On or before each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting the Agent’s or its designee’s account (provided the Agent
shall have given the Company written notice of such designee at least one Trading Day prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may be
mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date, the Agent will deliver the related Net Proceeds in same day funds to an
account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver Placement Shares on a Settlement Date (unless such default
is directly and primarily caused by the Agent), the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Section 10(a) hereto, it will (i) hold the Agent harmless against any loss, claim,
damage, or reasonable, documented expense (including reasonable, 

  
 -4- 

 
documented legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent (if applicable) and (ii) pay to the Agent any
commission, discount, or other compensation to which it would otherwise have been entitled absent such default. 

(d)    Denominations; Registration. Certificates for the Placement Shares, if any, shall be in such
denominations and registered in such names as the Agent may request in writing at least one full Business Day (as defined below) before the Settlement Date. The certificates for the Placement Shares, if any, will be made available by the Company for
examination and packaging by the Agent in The City of New York not later than noon (New York time) on the Business Day prior to the Settlement Date. 

(e)    Limitations on Offering Size. Under no circumstances shall the Company cause or request the offer or
sale of any Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate gross sales proceeds of Placement Shares sold pursuant to this Agreement would exceed the lesser of (A) together with all sales of
Placement Shares under this Agreement, the Maximum Amount and (B) the amount authorized from time to time to be issued and sold under this Agreement by the Company’s board of directors, a duly authorized committee thereof or a duly
authorized executive committee, and notified to the Agent in writing. Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares pursuant to this Agreement at a price lower than the minimum price authorized
from time to time by the Company’s board of directors, a duly authorized committee thereof or a duly authorized executive committee. Further, under no circumstances shall the Company cause or permit the aggregate offering amount of Placement
Shares sold pursuant to this Agreement to exceed the Maximum Amount. 
 6.    Representations and Warranties of the
Company. The Company represents and warrants to, and agrees with Agent that as of the date of this Agreement and as of each Applicable Time (as defined below) unless such representation, warranty or agreement speaks as of a different time: 

(a)    Registration Statement and Prospectus. The Company and the transactions contemplated by this Agreement meet
the requirements for and comply with the applicable conditions set forth in Form S-3 (including General Instructions I.A and I.B) under the Securities Act. The Registration Statement has been filed with the
Commission and has been declared effective by the Commission under the Securities Act. The Prospectus Supplement will name the Agent as the agent in the section entitled “Plan of Distribution.” The Company has not received, and has no
notice of, any order of the Commission preventing or suspending the use of the Registration Statement, or threatening or instituting proceedings for that purpose. The Registration Statement and the offer and sale of Placement Shares as contemplated
hereby meet the requirements of Rule 415 under the Securities Act and comply in all material respects with said Rule. Any statutes, regulations, contracts or other documents that are required to be described in the Registration Statement or the
Prospectus or to be filed as exhibits to the Registration Statement have been so described or filed. Copies of the Registration Statement, the Prospectus, and any such amendments or supplements and all documents incorporated by reference therein
that were filed with the Commission on or prior to the date of this Agreement have been delivered, or are available through EDGAR, to Agent and its counsel. The Company has not distributed and, prior to the later to occur of each Settlement Date and
completion of the 

  
 -5- 

 
distribution of the Placement Shares, will not distribute any offering material in connection with the offering or sale of the Placement Shares other than the Registration Statement and the
Prospectus and any Issuer Free Writing Prospectus (as defined below) to which the Agent has consented, such consent not to be unreasonably withheld, conditioned or delayed. The Common Stock is registered pursuant to Section 12(b) of the Exchange Act
and is currently listed on the Exchange under the trading symbol “ALDX.” The Company has taken no action designed to, or likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act, delisting the
Common Stock from the Exchange, nor has the Company received any notification that the Commission or the Exchange is contemplating terminating such registration or listing. To the Company’s knowledge, it is in compliance with all applicable
listing requirements of the Exchange. 
 (b)    No Misstatement or Omission. The Registration Statement, when it
became or becomes effective, and the Prospectus, and any amendment or supplement thereto, on the date of such Prospectus or amendment or supplement, conformed and will conform in all material respects with the requirements of the Securities Act. At
each Settlement Date, the Registration Statement and the Prospectus, as of such date, will conform in all material respects with the requirements of the Securities Act. The Registration Statement, when it became or becomes effective, did not, and
will not, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus and any amendment and supplement thereto, on the date
thereof and at each Applicable Time (defined below), did not or will not include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were
made, not misleading. The documents incorporated by reference in the Prospectus or any Prospectus Supplement did not, and any further documents filed and incorporated by reference therein will not, when filed with the Commission, contain an untrue
statement of a material fact or omit to state a material fact required to be stated in such document or necessary to make the statements in such document, in light of the circumstances under which they were made, not misleading. The foregoing shall
not apply to statements in, or omissions from, any such document made in reliance upon, and in conformity with, information furnished to the Company by Agent specifically for use in the preparation thereof. 

(c)    Conformity with Securities Act and Exchange Act. The Registration Statement, the Prospectus, any Issuer Free
Writing Prospectus or any amendment or supplement thereto, and the documents incorporated by reference in the Registration Statement, the Prospectus or any amendment or supplement thereto, when such documents were or are filed with the Commission
under the Securities Act or the Exchange Act or became or become effective under the Securities Act, as the case may be, conformed or will conform in all material respects with the requirements of the Securities Act and the Exchange Act, as
applicable. 
 (d)    Financial Information. The financial statements of the Company included or incorporated by
reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, together with the related notes and schedules, present fairly, in all material respects, the financial position of the Company and the
Subsidiaries (as defined below) as of the dates indicated and the results of operations, cash flows and changes in stockholders’ equity of the Company for the periods specified (subject to normal year-end
audit adjustments for interim financial statements) and have been prepared in compliance with the requirements of 

  
 -6- 

 
the Securities Act and Exchange Act and in conformity with GAAP (as defined below) applied on a consistent basis during the periods involved (except that any interim statements are in condensed
form and do not contain all footnotes that would be required under GAAP); the other financial and statistical data with respect to the Company and the Subsidiaries (as defined below) contained or incorporated by reference in the Registration
Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, are accurately and fairly presented in all material respects and prepared on a basis consistent, in all material respects, with the financial statements (in the case of
financial data only) and books and records of the Company; there are no financial statements (historical or pro forma) that are required to be included or incorporated by reference in the Registration Statement, or the Prospectus that are not
included or incorporated by reference as required; the Company and the Subsidiaries (as defined below) do not have any material liabilities or obligations, direct or contingent (including any off-balance sheet
obligations), that are required to be described in the Registration Statement and the Prospectus that are not described in the Registration Statement (excluding the exhibits thereto), and the Prospectus, respectively; and all disclosures contained
or incorporated by reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, regarding “non-GAAP financial measures” (as such term is defined by the
rules and regulations of the Commission) comply in all material respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent applicable. The interactive
data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and has been prepared in accordance with the
Commission’s rules and guidelines applicable thereto. 
 (e)    Conformity with EDGAR Filing. The Prospectus
delivered to Agent for use in connection with the sale of the Placement Shares pursuant to this Agreement will be identical to the versions of the Prospectus created to be transmitted to the Commission for filing via EDGAR, except to the extent
permitted by Regulation S-T. 
 (f)    Organization. The Company and each
of its Subsidiaries are duly organized, validly existing as a corporation and in good standing under the laws of their respective jurisdictions of organization. The Company and each of its Subsidiaries are duly licensed or qualified as a foreign
corporation for transaction of business and in good standing under the laws of each other jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires such license or qualification, and
have all corporate power and authority necessary to own or hold their respective properties and to conduct their respective businesses as described in the Registration Statement and the Prospectus, except where the failure to be so qualified or in
good standing or have such power or authority would not, individually or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse effect on or affecting the assets, business, operations, earnings,
properties, condition (financial or otherwise), prospects, stockholders’ equity or results of operations of the Company and the Subsidiaries taken as a whole, or prevent or materially interfere with consummation of the transactions contemplated
hereby (a “Material Adverse Effect”). 
 (g)    Subsidiaries. The subsidiaries set forth
on Schedule 4 (collectively, the “Subsidiaries”), are the Company’s only significant subsidiaries (as such term is defined in Rule 

  
 -7- 

 
1-02 of Regulation S-X promulgated by the Commission). Except as set forth in the Registration Statement and in the
Prospectus, the Company owns, directly or indirectly, all of the equity interests of the Subsidiaries free and clear of any lien, charge, security interest, encumbrance, right of first refusal or other restriction, and all the equity interests of
the Subsidiaries are validly issued and are fully paid, nonassessable and free of preemptive and similar rights. No Subsidiary is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other
distribution on such Subsidiary’s capital stock, from repaying to the Company any loans or advances to such Subsidiary from the Company or from transferring any of such Subsidiary’s property or assets to the Company or any other Subsidiary
of the Company. 
 (h)    No Violation or Default. Neither the Company nor any of its Subsidiaries is (i) in
violation of its charter or by-laws or similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due
performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its Subsidiaries is a party or by which the Company or
any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of its Subsidiaries are subject; or (iii) in violation of any law or statute or any judgment, order, rule or regulation of any Governmental
Authority, except, in the case of each of clauses (ii) and (iii) above, for any such violation or default that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To the Company’s
knowledge, no other party under any material contract or other agreement to which it or any of its Subsidiaries is a party is in default in any respect thereunder where such default would reasonably be expected to have a Material Adverse Effect.

 (i)    No Material Adverse Change. Subsequent to the respective dates as of which information is given in the
Registration Statement, the Prospectus and the Free Writing Prospectuses, if any (including any document deemed incorporated by reference therein), there has not been (i) any Material Adverse Effect or the occurrence of any development that the
Company reasonably expects will result in a Material Adverse Effect, (ii) other than as contemplated by this Agreement, any transaction which is material to the Company and the Subsidiaries taken as a whole, (iii) any obligation or
liability, direct or contingent (including any off-balance sheet obligations), incurred by the Company or any Subsidiary, which is material to the Company and the Subsidiaries taken as a whole, (iv) any
material change in the capital stock (other than as a result of the sale of the Placement Shares) or outstanding long-term indebtedness of the Company or any of its Subsidiaries or (v) any dividend or distribution of any kind declared, paid or
made on the capital stock of the Company or any Subsidiary, other than in each case above in the ordinary course of business or as otherwise disclosed in the Registration Statement or Prospectus (including any document deemed incorporated by
reference therein). 
 (j)    Capitalization. The issued and outstanding shares of capital stock of the Company
have been validly issued, are fully paid and nonassessable and, other than as disclosed in the Registration Statement or the Prospectus, are not subject to any preemptive rights, rights of first refusal or similar rights. The Company has an
authorized, issued and outstanding capitalization as set forth in the Registration Statement and the Prospectus as of the dates referred to therein (other than the grant of additional options under the Company’s existing stock option plans, or
changes in the number of outstanding shares of Common Stock of the Company 

  
 -8- 

 
due to the issuance of shares upon the exercise or conversion of securities exercisable for, or convertible into, Common Stock outstanding on the date hereof) and such authorized capital stock
conforms to the description thereof set forth in the Registration Statement and the Prospectus. The description of the securities of the Company in the Registration Statement and the Prospectus is complete and accurate in all material respects.
Except as disclosed in or contemplated by the Registration Statement or the Prospectus, as of the date referred to therein, the Company does not have outstanding any options to purchase, or any rights or warrants to subscribe for, or any securities
or obligations convertible into, or exchangeable for, or any contracts or commitments to issue or sell, any shares of capital stock or other securities. 

(k)    Authorization; Enforceability. The Company has full legal right, power and authority to enter into this
Agreement and perform the transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by the Company and is a legal, valid and binding agreement of the Company enforceable in accordance with its terms, except to
the extent that enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by general equitable principles and that the enforceability of the indemnification and
contribution provisions may be limited by federal and state securities laws and principles of public policy. 

(l)    Authorization of Placement Shares. The Placement Shares, when issued and delivered pursuant to the terms
approved by the board of directors of the Company or a duly authorized committee thereof, or a duly authorized executive committee, against payment therefor as provided herein, will be duly and validly authorized and issued and fully paid and
nonassessable, free and clear of any pledge, lien, encumbrance, security interest or other claim (other than any pledge, lien, encumbrance, security interest or other claim arising directly and primarily from an act or omission of the Agent or a
purchaser), including any statutory or contractual preemptive rights, resale rights, rights of first refusal or other similar rights, and will be registered pursuant to Section 12 of the Exchange Act. The Placement Shares, when issued, will
conform to the description thereof set forth in or incorporated into the Prospectus. 
 (m)    No Consents
Required. No consent, approval, authorization, order, registration or qualification of or with any Governmental Authority is required for the execution, delivery and performance by the Company of this Agreement, the issuance and sale by the
Company of the Placement Shares, except for such consents, approvals, authorizations, orders and registrations or qualifications as may be required under applicable state securities laws or by the by-laws and
rules of the Financial Industry Regulatory Authority (“FINRA”) or the Exchange in connection with the sale of the Placement Shares by the Agent. 

(n)    No Preferential Rights. Except as set forth in the Registration Statement and the Prospectus, (i) no
person, as such term is defined in Rule 1-02 of Regulation S-X promulgated under the Securities Act (each, a “Person”), has the right,
contractual or otherwise, to cause the Company to issue or sell to such Person any Common Stock or shares of any other capital stock or other securities of the Company (other than upon exercise of options or warrants to purchase Common Stock or upon
the exercise of options or settlement of restricted stock awards or stock unit awards that may be granted from time to time under the Company’s equity incentive plans and which are disclosed in the Registration Statement and Prospectus),
(ii) no 

  
 -9- 

 
Person has any preemptive rights, resale rights, rights of first refusal, rights of co-sale, or any other rights (whether pursuant to a “poison
pill” provision or otherwise) to purchase any Common Stock or shares of any other capital stock or other securities of the Company, (iii) no Person has the right to act as an underwriter or as a financial advisor to the Company in
connection with the offer and sale of the Placement Shares, and (iv) no Person has the right, contractual or otherwise, to require the Company to register under the Securities Act any Common Stock or shares of any other capital stock or other
securities of the Company, or to include any such shares or other securities in the Registration Statement or the offering contemplated thereby, whether as a result of the filing or effectiveness of the Registration Statement or the sale of the
Placement Shares as contemplated thereby or otherwise, except for such rights as have been waived in writing on or prior to the date hereof. 

(o)    Independent Public Accounting Firm. BDO USA, LLP (the “Accountant”), whose report on
the financial statements of the Company is filed with the Commission as part of the Company’s most recent Annual Report on Form 10-K filed with the Commission and incorporated by reference into the
Registration Statement and the Prospectus, are and, during the periods covered by their report, were an independent registered public accounting firm within the meaning of the Securities Act and the Public Company Accounting Oversight Board (United
States). To the Company’s knowledge, the Accountant is not in violation of the auditor independence requirements of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”) with respect to the Company. 

(p)    Enforceability of Agreements. All agreements between the Company and third parties expressly referenced in
the Prospectus, other than such agreements that have expired by their terms or the termination of which is disclosed in documents filed by the Company on EDGAR, are legal, valid and binding obligations of the Company enforceable in accordance with
their respective terms, except to the extent that (i) enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by general equitable principles;
(ii) the indemnification provisions of certain agreements may be limited by federal or state securities laws or public policy considerations in respect thereof; and (iii) any unenforceability, individually or in the aggregate, would not
reasonably be expected to have a Material Adverse Effect. 
 (q)    No Litigation. Except as set forth in the
Registration Statement or the Prospectus, there are no actions, suits or proceedings by or before any Governmental Authority pending, nor, to the Company’s knowledge, any audits or investigations by or before any Governmental Authority, to
which the Company or a Subsidiary is a party or to which any property of the Company or any of its Subsidiaries is the subject that, individually or in the aggregate, if determined adversely to the Company, would reasonably be expected to have a
Material Adverse Effect and, to the Company’s knowledge, no such actions, suits, proceedings, audits or investigations are threatened or contemplated by any Governmental Authority or threatened by others that, individually or in the aggregate,
would reasonably be expected to have a Material Adverse Effect; and (i) there are no current or pending audits, actions, suits or proceedings, nor, to the Company’s knowledge, investigations by or before any Governmental Authority that are
required under the Securities Act to be described in the Prospectus that are not so described; and (ii) there are no contracts or other documents that are required under the Securities Act to be filed as exhibits to the Registration Statement
that are not so filed. 

  
 -10- 

 (r)    Consents and Permits. Except as disclosed in the Registration
Statement and the Prospectus, the Company and its Subsidiaries have made all filings, applications and submissions required by, possesses and is operating in compliance with, all approvals, licenses, certificates, certifications, clearances,
consents, grants, exemptions, marks, notifications, orders, permits and other authorizations issued by, the appropriate federal, state or foreign Governmental Authority (including, without limitation, the United States Food and Drug Administration
(the “FDA”), the United States Drug Enforcement Administration or any other foreign, federal, state, provincial, court or local government or regulatory authorities including self-regulatory organizations engaged in the
regulation of clinical trials, pharmaceuticals, biologics or biohazardous substances or materials) necessary for the ownership or lease of their respective properties or to conduct its businesses as described in the Registration Statement and the
Prospectus (collectively, “Permits”), except for such Permits the failure of which to possess, obtain or make the same would not reasonably be expected to have a Material Adverse Effect; the Company and its Subsidiaries are
in compliance with the terms and conditions of all such Permits, except where the failure to be in compliance would not reasonably be expected to have a Material Adverse Effect; all of the Permits are valid and in full force and effect, except where
any invalidity, individually or in the aggregate, would not be reasonably expected to have a Material Adverse Effect; and neither the Company nor any of its Subsidiaries has received any written notice relating to the limitation, revocation,
cancellation, suspension, modification or non-renewal of any such Permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to have a
Material Adverse Effect, or has any reason to believe that any such license, certificate, permit or authorization will not be renewed in the ordinary course. To the extent required by applicable laws and regulations of the FDA, the Company or the
applicable Subsidiary has submitted to the FDA an Investigational New Drug Application or amendment or supplement thereto for each clinical trial it has conducted or sponsored or is conducting or sponsoring; all such submissions were in material
compliance with applicable laws and rules and regulations when submitted and no material deficiencies have been asserted by the FDA with respect to any such submissions. 

(s)    Regulatory Filings. Except as disclosed in the Registration Statement and the Prospectus, neither the
Company nor any of its Subsidiaries has failed to file with the applicable Governmental Authorities (including, without limitation, the FDA, or any foreign, federal, state, provincial or local Governmental Authority performing functions similar to
those performed by the FDA) any required filing, declaration, listing, registration, report or submission, except for such failures that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect; except as
disclosed in the Registration Statement and the Prospectus, all such filings, declarations, listings, registrations, reports or submissions were in compliance with applicable laws when filed and no deficiencies have been asserted by any applicable
regulatory authority with respect to any such filings, declarations, listings, registrations, reports or submissions, except for any deficiencies that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse
Effect. The Company has operated and currently is, in all material respects, in compliance with the United States Federal Food, Drug, and Cosmetic Act, all applicable rules and regulations of the FDA and other federal, state, local and foreign
Governmental Authority exercising comparable authority. The Company has no knowledge of any studies, tests or trials conducted by or on behalf of the Company not described in the Prospectus the results of which reasonably call into question in any
material respect the results of the studies, tests and trials described in the Prospectus. 

  
 -11- 

 (t)    Intellectual Property. The Company owns or possesses or has
valid rights to use or can develop or acquire on reasonable terms all patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses, inventions, trade secrets and
similar rights (“Intellectual Property Rights”) necessary for the conduct of the business of the Company as currently carried on and as described in the Registration Statement and the Prospectus. To the knowledge of the
Company, no action or use by the Company necessary for the conduct of its business as currently carried on and as described in the Registration Statement and the Prospectus will involve or give rise to any infringement of any Intellectual Property
Rights of others. The Company has not received any written notice alleging any such infringement or conflict with asserted Intellectual Property Rights of others. Except as would not reasonably be expected to result, individually or in the
aggregate, in a Material Adverse Effect (A) to the knowledge of the Company, there is no infringement, misappropriation or violation by third parties of any of the Intellectual Property Rights owned by the Company; (B) there is no pending
or, to the knowledge of the Company, threatened action, suit, proceeding or claim by others challenging the rights of the Company in or to any such Intellectual Property Rights, and the Company is unaware of any facts which would form a reasonable
basis for any such claim; (C) the Intellectual Property Rights owned by the Company and, to the knowledge of the Company, the Intellectual Property Rights licensed to the Company have not been adjudged by a court of competent jurisdiction
invalid or unenforceable, in whole or in part, and there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others challenging the validity or scope of any such Intellectual Property Rights, and the
Company is unaware of any facts which would form a reasonable basis for any such claim; (D) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others that the Company infringes,
misappropriates or otherwise violates any Intellectual Property Rights or other proprietary rights of others, the Company has not received any written notice of such claim and the Company is unaware of any other facts which would form a reasonable
basis for any such claim; and (E) to the Company’s knowledge, no employee of the Company is in or has ever been in violation in any material respect of any term of any employment contract, patent disclosure agreement, invention assignment
agreement, non-competition agreement, non-solicitation agreement, nondisclosure agreement or any restrictive covenant to or with a former employer where the basis of
such violation relates to such employee’s employment with the Company, or actions undertaken by the employee while employed with the Company. To the Company’s knowledge, all material technical information developed by and belonging to the
Company which has not been patented has been kept confidential. The Company is not a party to or bound by any options, licenses or agreements with respect to the Intellectual Property Rights of any other person or entity that are required to be set
forth in the Registration Statement and the Prospectus and are not materially described therein. The Registration Statement and the Prospectus contain in all material respects the same description of the matters set forth in the preceding sentence.
None of the technology employed by the Company has been obtained or is being used by the Company in violation of any contractual obligation binding on the Company or, to the Company’s knowledge, (i) any of its officers, directors or
employees, or (ii) otherwise in violation of the rights of any persons. 
 (u)    Clinical Studies. All
preclinical studies and clinical trials conducted by or to the knowledge of the Company, on behalf of the Company that are material to the Company and its Subsidiaries, taken as a whole, are or have been adequately described in the Registration
Statement and the Prospectus in all material respects. The clinical trials and preclinical studies 

  
 -12- 

 
conducted by or, to the knowledge of the Company, on behalf of the Company and its Subsidiaries that are described in the Registration Statement and the Prospectus or the results of which are
referred to in the Registration Statement and the Prospectus were and, if still ongoing, are being conducted in material compliance with all laws and regulations applicable thereto in the jurisdictions in which they are being conducted. The
descriptions in the Registration Statement and the Prospectus of the results of such studies and trials are accurate and complete in all material respects and fairly present the data derived from such studies and trials, and the Company has no
knowledge of, any clinical trial or preclinical study the aggregate results of which the Company reasonably believes are inconsistent with or otherwise call into question the results of any clinical trial or preclinical study conducted by or on
behalf of the Company that are described in the Registration Statement and the Prospectus or the results of which are referred to in the Registration Statement and the Prospectus when viewed in the context in which such results are described. Except
as disclosed in the Registration Statement and the Prospectus, the Company has not received any written notices from the FDA, the European Medicines Agency (“EMA”) or any other Governmental Authority requiring, requesting or
suggesting termination, suspension, imposition of a clinical hold (which has not been remedied) or material adverse modification for or of any clinical trial or preclinical study that is described in the Registration Statement and the Prospectus or
the results of which are referred to in the Registration Statement and the Prospectus. Except as disclosed in the Registration Statement and the Prospectus, the Company has not received any written notices from any Governmental Authority, and
otherwise has no knowledge of, or reason to believe that any license, approval, permit or authorization to conduct any clinical trial of any potential product of the Company has been, will be or may be suspended, revoked, modified or limited. 

(v)    Market Capitalization. At the time the Registration Statement was originally declared effective, and at the
time the Company’s most recent Annual Report on Form 10-K was filed with the Commission, the Company met the then applicable requirements for the use of Form S-3
under the Securities Act, including, but not limited to, General Instruction I.B.6 of Form S-3. The aggregate market value of the outstanding voting and non-voting
common equity (as defined in Securities Act Rule 405) of the Company held by persons other than affiliates of the Company (pursuant to Securities Act Rule 144, those that directly, or indirectly through one or more intermediaries, control, or are
controlled by, or are under common control with, the Company) (the “Non-Affiliate Shares”), was equal to approximately $68.9 million (calculated by multiplying (x) the highest
price at which the common equity of the Company closed on the Exchange within 60 days of the date of this Agreement times (y) the number of Non-Affiliate Shares). The Company is not a shell company (as
defined in Rule 405 under the Securities Act) and has not been a shell company for at least 12 calendar months previously and if it has been a shell company at any time previously, has filed current Form 10 information (as defined in General
Instruction I.B.6 of Form S-3) with the Commission at least 12 calendar months previously reflecting its status as an entity that is not a shell company. 

(w)    No Material Defaults. Neither the Company nor any of the Subsidiaries has defaulted on any installment on
indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. The Company has not filed a report pursuant to
Section 13(a) or 15(d) of the Exchange Act since the filing of its last Annual Report on Form 10-K, indicating that it (i) has failed to pay any dividend or sinking fund installment on preferred

  
 -13- 

 
stock or (ii) has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would
reasonably be expected to have a Material Adverse Effect. 
 (x)    Certain Market Activities. Neither the
Company, nor any of the Subsidiaries, nor, to the Company’s knowledge any of their respective directors, officers or controlling persons has taken, directly or indirectly, any action designed, or that has constituted or would reasonably be
expected to cause or result in, under the Exchange Act or otherwise, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Placement Shares. 

(y)    Broker/Dealer Relationships. Neither the Company nor any of the Subsidiaries (i) is required to
register as a “broker” or “dealer” in accordance with the provisions of the Exchange Act or (ii) directly or indirectly through one or more intermediaries, controls or is a “person associated with a member” or
“associated person of a member” (within the meaning set forth in the FINRA Manual). 
 (z)    No
Reliance. The Company has not relied upon the Agent or legal counsel for the Agent for any legal, tax or accounting advice in connection with the offering and sale of the Placement Shares. 

(aa)    Taxes. The Company and each of its Subsidiaries have filed all federal, state, local and foreign tax
returns which have been required to be filed and paid all taxes shown thereon through the date hereof, to the extent that such taxes have become due and are not being contested in good faith, except where the failure to so file or pay would not
reasonably be expected to have a Material Adverse Effect. Except as otherwise disclosed in or contemplated by the Registration Statement or the Prospectus, no tax deficiency has been determined adversely to the Company or any of its Subsidiaries
which has had, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. The Company has no knowledge of any federal, state or other governmental tax deficiency, penalty or assessment which has been
asserted or threatened against it in writing which would reasonably be expected to have a Material Adverse Effect. 

(bb)    Title to Real and Personal Property. Except as set forth in the Registration Statement or the Prospectus,
the Company and its Subsidiaries have good and marketable title in fee simple to all items of real property owned by them, good and valid title to all personal property described in the Registration Statement or Prospectus as being owned by them, in
each case free and clear of all liens, encumbrances and claims, except those matters that (i) do not materially interfere with the use made and proposed to be made of such property by the Company and any of its Subsidiaries or (ii) would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Any real or personal property described in the Registration Statement or Prospectus as being leased by the Company and any of its Subsidiaries is held
by them under valid, existing and enforceable leases, except those that (A) do not materially interfere with the use made or proposed to be made of such property by the Company or any of its Subsidiaries or (B) would not be reasonably
expected, individually or in the aggregate, to have a Material Adverse Effect. To the Company’s knowledge, each of the properties of the Company and its Subsidiaries complies with all applicable codes, laws and regulations (including, without
limitation, building and zoning codes, laws and regulations and 

  
 -14- 

 
laws relating to access to such properties), except if and to the extent disclosed in the Registration Statement or Prospectus or except for such failures to comply that would not, individually
or in the aggregate, reasonably be expected to interfere in any material respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise reasonably be expected to have a Material Adverse Effect.
None of the Company or its subsidiaries has received from any Governmental Authorities any notice of any condemnation of, or zoning change affecting, the properties of the Company and its Subsidiaries, and the Company knows of no such condemnation
or zoning change which is threatened, except for such that would not reasonably be expected to interfere in any material respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise reasonably
be expected to have a Material Adverse Effect, individually or in the aggregate. 
 (cc)    Environmental Laws.
Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries (i) are in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions and orders relating to
the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”); (ii) have received and are in compliance with all
permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses as described in the Registration Statement and the Prospectus; and (iii) have not received notice of any actual or
potential liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except, in the case of any of clauses (i), (ii) or (iii) above, for any such failure to
comply or failure to receive required permits, licenses, other approvals or liability as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(dd)    Disclosure Controls. The Company and each of its Subsidiaries maintain systems of internal accounting
controls designed to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial
statements in conformity with GAAP and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. As of the end of the Company’s most recently completed fiscal quarter, the Company’s internal control over financial
reporting is effective and the Company is not aware of any material weaknesses in its internal control over financial reporting (other than as set forth in the Prospectus). Since the date of the latest audited financial statements of the Company
included in the Prospectus, there has been no change in the Company’s internal control over financial reporting that has materially and adversely affected, or is reasonably likely to materially and adversely affect, the Company’s internal
control over financial reporting (other than as set forth in the Prospectus). The Company has established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15 and 15d-15) for the Company and designed such disclosure controls and procedures to ensure that material information relating to the Company and each of its Subsidiaries is made known to the certifying officers by
others within those entities, particularly during the period in which the Company’s Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as the case may be,
is being prepared. The Company’s certifying officers have evaluated the effectiveness of the Company’s 

  
 -15- 

 
disclosure controls and procedures as of a date within 90 days prior to the filing date of the Form 10-K for the fiscal year most recently ended (such
date, the “Evaluation Date”). The Company presented in its Form 10-K for the fiscal year most recently ended the conclusions of the certifying officers about the effectiveness of
the disclosure controls and procedures based on their evaluations as of the Evaluation Date and the disclosure controls and procedures were effective. Since the Evaluation Date, there have been no significant adverse changes in the Company’s
internal controls (as such term is defined in Item 307(b) of Regulation S-K under the Securities Act) or, to the Company’s knowledge, in other factors that would reasonably be expected to significantly
affect the Company’s internal controls. 
 (ee)    Sarbanes-Oxley. There is and has been no failure on the
part of the Company or, to the Company’s knowledge, any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley Act and the rules and
regulations promulgated thereunder. Each of the principal executive officer and the principal financial officer of the Company (or each former principal executive officer of the Company and each former principal financial officer of the Company as
applicable) has made all certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules, forms, statements and other documents required to be filed by it or furnished by it to the Commission. For
purposes of the preceding sentence, “principal executive officer” and “principal financial officer” shall have the meanings given to such terms in the Sarbanes-Oxley Act. 

(ff)    Finder’s Fees. Neither the Company nor any of the Subsidiaries has incurred any liability for any
finder’s fees, brokerage commissions or similar payments in connection with the transactions herein contemplated, except as may otherwise exist with respect to Agent pursuant to this Agreement. 

(gg)    Labor Disputes. No labor disturbance by or dispute with employees of the Company or any of its Subsidiaries
exists or, to the knowledge of the Company, is threatened which would reasonably be expected to result in a Material Adverse Effect. 

(hh)    Investment Company Act. Neither the Company nor any of the Subsidiaries is or, after giving effect to the
offering and sale of the Placement Shares, will be an “investment company” or an entity “controlled” by an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended (the
“Investment Company Act”). 
 (ii)    Operations. The operations of the Company and its
Subsidiaries are and have been conducted at all times in compliance with applicable financial record keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all
jurisdictions to which the Company or its Subsidiaries are subject, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Authority (collectively, the
“Money Laundering Laws”); and no action, suit or proceeding by or before any Governmental Authority involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of
the Company, threatened. 

  
 -16- 

 (jj)    Off-Balance Sheet
Arrangements. There are no transactions, arrangements and other relationships between and/or among the Company and/or any of its affiliates and any unconsolidated entity, including, but not limited to, any structural finance, special purpose or
limited purpose entity (each, an “Off-Balance Sheet Transaction”) that would reasonably be expected to affect materially the Company’s liquidity or the availability of or
requirements for its capital resources, including those Off-Balance Sheet Transactions described in the Commission’s Statement about Management’s Discussion and Analysis of Financial Conditions and
Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), required to be described in the Prospectus which have not been
described as required. 
 (kk)    Underwriter Agreements. The Company is not a party to any agreement with an
agent or underwriter for any other “at the market” or continuous equity transaction. 
 (ll)    ERISA.
To the knowledge of the Company, each material employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), that is maintained, administered or
contributed to by the Company or any of its affiliates for employees or former employees of the Company and any of its Subsidiaries has been maintained in material compliance with its terms and the requirements of any applicable statutes, orders,
rules and regulations, including but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the “Code”); no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the
Code, has occurred which would result in a material liability to the Company with respect to any such plan excluding transactions effected pursuant to a statutory or administrative exemption; and for each such plan that is subject to the funding
rules of Section 412 of the Code or Section 302 of ERISA, no “accumulated funding deficiency” as defined in Section 412 of the Code has been incurred, whether or not waived, and the fair market value of the assets of each
such plan (excluding for these purposes accrued but unpaid contributions) exceeds the present value of all benefits accrued under such plan determined using reasonable actuarial assumptions. 

(mm)    Forward-Looking Statements. No forward-looking statement (within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act) (a “Forward-Looking Statement”) contained in the Registration Statement and the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other
than in good faith. 
 (nn)    Agent Purchases. The Company acknowledges and agrees that Agent has informed the
Company that the Agent may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell Common Stock for its own account while this Agreement is in effect, provided, that the Company shall not be deemed to have
authorized or consented to any such purchases or sales by the Agent. 
 (oo)    Margin Rules. Neither the
issuance, sale and delivery of the Placement Shares nor the application of the proceeds thereof by the Company as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal
Reserve System or any other regulation of such Board of Governors. 
 (pp)    Insurance. The Company and each of
its Subsidiaries carry, or are covered by, insurance in such amounts and covering such risks as the Company and each of its Subsidiaries reasonably believe are adequate for the conduct of their properties and as is customary for companies engaged in
similar businesses in similar industries. 

  
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 (qq)    No Improper Practices. (i) Neither the Company nor the
Subsidiaries, nor, to the Company’s knowledge, any director, officer, employee, agent, affiliate, or other person acting on behalf of the Company or any Subsidiary, has, in the past five years, made any unlawful contributions to any candidate
for any political office (or failed fully to disclose any contribution in violation of applicable law) or made any contribution or other payment to any official of, or candidate for, any federal, state, municipal, or foreign office or other person
charged with similar public or quasi-public duty in violation of any applicable law or of the character required to be disclosed in the Prospectus; (ii) no relationship, direct or indirect, exists between or among the Company or any Subsidiary
or, to the Company’s knowledge, any affiliate of any of them, on the one hand, and the directors, officers and stockholders of the Company or any Subsidiary, on the other hand, that is required by the Securities Act to be described in the
Registration Statement and the Prospectus that is not so described; (iii) no relationship, direct or indirect, exists between or among the Company or any Subsidiary or, to the Company’s knowledge, any affiliate of them, on the one hand,
and the directors, officers, or stockholders of the Company or any Subsidiary, on the other hand, that is required by the rules of FINRA to be described in the Registration Statement and the Prospectus that is not so described; (iv) except as
described in the Registration Statement and the Prospectus, there are no material outstanding loans or advances or material guarantees of indebtedness by the Company or any Subsidiary to or for the benefit of any of their respective officers or
directors or any of the members of the families of any of them; (v) the Company has not offered, or caused any placement agent to offer, Common Stock to any person with the intent to influence unlawfully (A) a customer or supplier of the
Company or any Subsidiary to alter the customer’s or supplier’s level or type of business with the Company or any Subsidiary or (B) a trade journalist or publication to write or publish favorable information about the Company or any
Subsidiary or any of their respective products or services, and (vi) neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director, officer, employee, agent, affiliate, or other person acting on behalf of the Company
or any Subsidiary, has (A) violated or is in violation of any applicable provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any other applicable anti-bribery or anti-corruption law (collectively,
“Anti-Corruption Laws”), (B) unlawfully promised, offered, provided, attempted to provide, or authorized the provision of anything of value, directly or indirectly, to any person for the purpose of obtaining or retaining
business, influencing any act or decision of the recipient, or securing any improper advantage; or (C) made any payment of funds of the Company or any Subsidiary or received or retained any funds in violation of any Anti-Corruption Laws. 

(rr)    Status Under the Securities Act. The Company was not and is not an ineligible issuer as defined in Rule 405
under the Securities Act at the times specified in Rules 164 and 433 under the Securities Act in connection with the offering of the Placement Shares. 

(ss)    No Misstatement or Omission in an Issuer Free Writing Prospectus. Each Issuer Free Writing Prospectus, as
of its issue date and as of each Applicable Time (as defined in Section 23 below), did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the
Registration Statement or the Prospectus, including any incorporated document deemed to be a part thereof that has not been 

  
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superseded or modified. The foregoing sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity with written information furnished
to the Company by the Agent specifically for use therein. 
 (tt)    No Conflicts. Neither the execution of this
Agreement by the Company, nor the issuance, offering or sale of the Placement Shares by the Company, nor the consummation of any of the transactions contemplated herein and therein by the Company, nor the compliance by the Company with the terms and
provisions hereof and thereof will conflict with, or will result in a breach of, any of the terms and provisions of, or has constituted or will constitute a default under, or has resulted in or will result in the creation or imposition of any lien,
charge or encumbrance upon any property or assets of the Company pursuant to the terms of any contract or other agreement to which the Company may be bound or to which any of the property or assets of the Company is subject, except (i) such
conflicts, breaches or defaults as may have been waived and (ii) such conflicts, breaches and defaults that would not reasonably be expected to have a Material Adverse Effect; nor will such action result (x) in any violation of the
provisions of the organizational or governing documents of the Company, or (y) in any violation of the provisions of any statute or any order, rule or regulation applicable to the Company or of any Governmental Authority having jurisdiction
over the Company, except in the case of clause (y) for such violations as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(uu)     Sanctions. (i) The Company represents that, neither the Company nor any of its Subsidiaries
(collectively, the “Entity”) or, to the Company’s knowledge, any director, officer, employee, agent, affiliate or representative of the Entity, is a government, individual, or entity (in this paragraph (uu),
“Person”) that is, or is owned or controlled by a Person that is: 
 (A) the subject of any
sanctions administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant
sanctions authorities, including, without limitation, designation on OFAC’s Specially Designated Nationals and Blocked Persons List or OFAC’s Foreign Sanctions Evaders List (as amended, collectively, “Sanctions”),
nor 
 (B) located, organized or resident in a country or territory that is the subject of Sanctions that broadly
prohibit dealings with that country or territory (including, without limitation, Cuba, Iran, North Korea, Sudan, Syria, and the Crimea Region of the Ukraine) (the “Sanctioned Countries”). 

(ii) The Entity represents and covenants that it will not, directly or indirectly, use the proceeds of the offering, or lend, contribute
or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person: 
 (A) to fund or
facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions or is a Sanctioned Country; or

  
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 (B) in any other manner that will result in a violation of Sanctions by any
Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise). 
 (iii) The
Entity represents and covenants that, except as detailed in the Registration Statement and the Prospectus, for the past 5 years, it has not engaged in, is not now engaging in, and will not engage in, any dealings or transactions with any Person, or
in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions or is or was a Sanctioned Country. 

(vv)    Stock Transfer Taxes. On each Settlement Date, all stock transfer or other taxes (other than income taxes)
which are required to be paid by the Company in connection with the sale and transfer of the Placement Shares to be sold hereunder will be, or will have been, fully paid or provided for by the Company and all laws imposing such taxes will be or will
have been fully complied with. 
 (ww)    Compliance with Laws. Except as disclosed in the Registration Statement
and the Prospectus, the Company: (A) is and at all times has been in compliance with all statutes, rules, or regulations, including the Federal Food Drug and Cosmetic Act; applicable to the ownership, testing, development, use, marketing,
labeling, promotion, offer for sale, or performance of any product being developed by the Company (“Applicable Laws”), except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect; (B) has not received any FDA Form 483, warning letter, or other written correspondence or notice from the FDA or any other Governmental Authority or third party alleging or asserting material noncompliance with any Applicable Laws or
any licenses, certificates, approvals, clearances, authorizations, permits and supplements or amendments thereto required by any such Applicable Laws (“Authorizations”); (C) possesses all material Authorizations and such
Authorizations are valid and in full force and effect and the Company is not in material violation of any term of any such Authorizations; (D) has not received written notice of any ongoing or pending claim, action, suit, proceeding, hearing,
enforcement, investigation, arbitration or other action from any Governmental Authority or third party alleging that any product or activity is in material violation of any Applicable Laws or Authorizations; (E) has not received written notice
that any Governmental Authority has taken, is taking or intends to take action to limit, suspend, adversely modify or revoke any Authorizations; and (F) has filed, obtained, maintained or submitted all material reports, documents, forms,
notices, applications, records, claims, submissions and supplements or amendments as required by any Applicable Laws or Authorizations and that all such reports, documents, forms, notices, applications, records, claims, submissions and supplements
or amendments were complete and correct in all material respects on the date filed (or were corrected or supplemented by a subsequent submission). The Company has not reported or received reports of any serious, unexpected adverse event associated
with any current investigational product of the Company. 
 (xx)    Statistical and Market-Related Data. The
statistical, demographic and market-related data included in the Registration Statement and Prospectus are based on or derived from sources that the Company believes to be reliable and accurate or represent the Company’s good faith estimates
that are made on the basis of data derived from such sources. 

  
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 (yy)    Emerging Growth Company Status. From the time of the initial
filing of the Company’s first registration statement with the Commission through the date hereof, the Company has been and is an “emerging growth company,” as defined in Section 2(a) of the Securities Act (an “Emerging
Growth Company”). 
 Any certificate signed by an officer of the Company and delivered to the Agent or to counsel for the Agent
pursuant to or in connection with this Agreement shall be deemed to be a representation and warranty by the Company, as applicable, to the Agent as to the matters set forth therein. 

7.    Covenants of the Company. The Company covenants and agrees with Agent that: 

(a)    Registration Statement Amendments. After the date of this Agreement and during any period in which a
Prospectus relating to any Placement Shares is required to be delivered by Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act or similar rule),
(i) the Company will notify the Agent promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any
subsequent supplement to the Prospectus has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii) the Company will prepare and file with
the Commission, promptly upon the Agent’s request, any amendments or supplements to the Registration Statement or Prospectus that, in the Agent’s reasonable opinion, may be necessary or advisable in connection with the distribution of the
Placement Shares by the Agent (provided, however, that the failure of the Agent to make such request shall not relieve the Company of any obligation or liability hereunder, or affect the Agent’s right to rely on the
representations and warranties made by the Company in this Agreement and provided, further, that the only remedy the Agent shall have with respect to the failure to make such filing shall be to cease making sales under this Agreement
until such amendment or supplement is filed); (iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus relating to the Placement Shares or a security convertible into the Placement Shares unless a
copy thereof has been submitted to Agent within a reasonable period of time before the filing and the Agent has not objected thereto (provided, however, that the failure of the Agent to make such objection shall not relieve the Company
of any obligation or liability hereunder, or affect the Agent’s right to rely on the representations and warranties made by the Company in this Agreement and provided, further, that the only remedy the Agent shall have with
respect to the failure by the Company to obtain such consent shall be to cease making sales under this Agreement, and provided, for the avoidance of doubt, that this provision shall not apply to documents the Company furnishes the SEC under the
Exchange Act) and the Company will furnish to the Agent at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus relating to the Placement Shares,
except for those documents available via EDGAR; and (iv) the Company will cause each amendment or supplement to the Prospectus to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act
or, in the case of any document to be incorporated therein by reference, to be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed (the determination to file or not file any amendment or supplement
with the Commission under this Section 7(a), based on the Company’s reasonable opinion or reasonable objections, shall be made exclusively by the Company). 

  
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 (b)    Notice of Commission Stop Orders. The Company will advise the
Agent, promptly after it receives notice or obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, of the suspension of the qualification of
the Placement Shares for offering or sale in any jurisdiction, or of the initiation or threatening of any proceeding for any such purpose; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to
obtain its withdrawal if such a stop order should be issued. The Company will advise the Agent promptly after it receives any request by the Commission for any amendments to the Registration Statement or any amendment or supplements to the
Prospectus or any Issuer Free Writing Prospectus or for additional information related to the offering of the Placement Shares or for additional information related to the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus.

 (c)    Delivery of Prospectus; Subsequent Changes. During any period in which a Prospectus relating to the
Placement Shares is required to be delivered by the Agent under the Securities Act with respect to the offer and sale of the Placement Shares, (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the
Securities Act or similar rule), the Company will comply with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates all reports and any definitive proxy or
information statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. If the Company has omitted any information from the Registration
Statement pursuant to Rule 430B under the Securities Act, it will use its best efforts to comply with the provisions of and make all requisite filings with the Commission pursuant to said Rule 430B and to notify the Agent promptly of all such
filings relating to the Placement Shares. If during such period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a material fact necessary to
make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities Act, the Company
will promptly notify the Agent to suspend the offering of Placement Shares during such period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so as to correct such statement
or omission or effect such compliance. 
 (d)    Listing of Placement Shares. Prior to the date of the first
Placement Notice, the Company will use its reasonable best efforts to cause the Placement Shares to be listed on the Exchange. 

(e)    Delivery of Registration Statement and Prospectus. The Company will furnish to the Agent and its counsel (at
the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus that are filed with the
Commission during any period in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including all documents filed with the 

  
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Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities as the Agent may from time to time
reasonably request and, at the Agent’s request, will also furnish copies of the Prospectus to each exchange or market on which sales of the Placement Shares may be made; provided, however, that the Company shall not be required to
furnish any document (other than the Prospectus) to the Agent to the extent such document is available on EDGAR. 

(f)    Earning Statement. The Company will make generally available to its security holders as soon as practicable,
but in any event not later than 15 months after the end of the Company’s current fiscal quarter, an earning statement covering a 12-month period that satisfies the provisions of Section 11(a) and Rule 158
of the Securities Act. 
 (g)    Use of Proceeds. The Company will use the Net Proceeds as described in the
Prospectus in the section entitled “Use of Proceeds.” 
 (h)    Notice of Other Sales. Without the
prior written consent of the Agent, the Company will not, directly or indirectly, offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant to this
Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire, Common Stock during the period beginning on the fifth (5th) Trading Day
immediately prior to the date on which any Placement Notice is delivered to Agent hereunder and ending on the fifth (5th) Trading Day immediately following the final Settlement Date with respect
to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice has been terminated or suspended prior to the sale of all Placement Shares covered by a Placement Notice, the date of such suspension or termination); and will
not directly or indirectly in any other “at the market” or continuous equity transaction offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered
pursuant to this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire, Common Stock prior to the later of the termination of this Agreement and the sixtieth (60th) day immediately following the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice; provided, however, that such restrictions will not be
required in connection with the Company’s issuance or sale of (i) Common Stock, options to purchase Common Stock or Common Stock issuable upon the exercise of options, pursuant to any employee or director stock option or benefits plan,
stock ownership plan or dividend reinvestment plan (but not Common Stock subject to a waiver to exceed plan limits in its dividend reinvestment plan) of the Company whether now in effect or hereafter implemented and disclosed in filings by the
Company available on EDGAR or otherwise in writing to the Agent, (ii) Common Stock issuable upon conversion of securities or the exercise of warrants, options or other rights in effect or outstanding, and disclosed in filings by the Company
available on EDGAR or otherwise in writing to the Agent and (iii) Common Stock or securities convertible into or exchangeable for shares of Common Stock as consideration for mergers, acquisitions, licensing, other business combinations or
strategic alliances or corporate partnering transaction occurring after the date of this Agreement which are not issued for capital raising purposes. 

(i)    Change of Circumstances. The Company will, at any time during the pendency of a Placement Notice advise the
Agent promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate, letter or other document required to be provided to the Agent
pursuant to this Agreement. 

  
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 (j)    Due Diligence Cooperation. The Company will cooperate with any
reasonable due diligence review conducted by the Agent or its representatives in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate officers,
during regular business hours and at the Company’s principal offices, as the Agent may reasonably request. 

(k)    Required Filings Relating to Placement of Placement Shares. The Company agrees that on such dates as the
Securities Act shall require the filing of a prospectus supplement with respect to the sale of Placement Shares hereunder, the Company will (i) file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under
the Securities Act (each and every filing date under Rule 424(b), a “Filing Date”), which prospectus supplement will set forth, within the relevant period, the amount of Placement Shares sold through the Agent, the Net
Proceeds to the Company and the compensation payable by the Company to the Agent with respect to such Placement Shares, and (ii) deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales
were effected as may be required by the rules or regulations of such exchange or market. 
 (l)    Representation
Dates; Certificate. (1) Prior to the date of the first Placement Notice and (2) following delivery of the first Placement Notice, each time the Company: 

(i) files the Prospectus relating to the Placement Shares or amends or supplements (other than a prospectus supplement relating solely to an
offering of securities other than the Placement Shares) the Registration Statement or the Prospectus relating to the Placement Shares by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by
reference into the Registration Statement or the Prospectus relating to the Placement Shares; 
 (ii) files an annual report on Form 10-K under the Exchange Act (including any Form 10-K/A containing amended financial information or a material amendment to the previously filed Form 10-K); 
 (iii) files its quarterly reports on Form 10-Q under the
Exchange Act, excluding any quarter where no Placement has occurred unless or until the Company issues a Placement Notice in such quarter; or 

(iv) files a current report on Form 8-K containing amended financial information (other than
information “furnished” pursuant to Items 2.02 or 7.01 of Form 8-K or to provide disclosure pursuant to Item 8.01 of Form 8-K relating to the
reclassification of certain properties as discontinued operations in accordance with Statement of Financial Accounting Standards No. 144) under the Exchange Act (each date of filing of one or more of the documents referred to in clauses
(i) through (iv) shall be a “Representation Date”); 

  
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 the Company shall furnish the Agent (but in the case of clause (iv) above only if the Agent reasonably
determines that the information contained in such Form 8-K is material) with a certificate dated the Representation Date, in the form and substance reasonably satisfactory to the Agent and its counsel,
substantially similar to the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement and the Prospectus as amended or supplemented. The requirement to provide a certificate under this
Section 7(l) shall be waived for any Representation Date occurring at a time a Suspension is in effect, which waiver shall continue until the earlier to occur of the date the Company delivers instructions for the sale of Placement Shares
hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation
Date when a Suspension was in effect and did not provide the Agent with a certificate under this Section 7(l), then before the Company delivers the instructions for the sale of Placement Shares or the Agent sells any Placement Shares pursuant
to such instructions, the Company shall provide the Agent with a certificate in conformity with this Section 7(l) dated as of the date that the instructions for the sale of Placement Shares are issued. 

(m)    Legal Opinion. (1) On or prior to the date of the first Placement Notice and (2) within five
(5) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to Section 7(l) for which no waiver is applicable and excluding the date of this Agreement, the Company shall
cause to be furnished to the Agent a written opinion and negative assurance letter of Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP (“Company Counsel”), or other counsel satisfactory to the Agent, in
form and substance reasonably satisfactory to Agent and its counsel, substantially similar to the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement and the Prospectus as then
amended or supplemented; provided, however, the Company shall be required to furnish to Agent no more than one opinion hereunder per calendar quarter; provided, further, that in lieu of such opinions for subsequent
periodic filings under the Exchange Act, counsel may furnish the Agent with a letter (a “Reliance Letter”) to the effect that the Agent may rely on a prior opinion delivered under this Section 7(m) to the same extent
as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented as of the date of the Reliance Letter). 

(n)    Comfort Letter. (1) On or prior to the date of the first Placement Notice and (2) within five
(5) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to Section 7(l) for which no waiver is applicable and excluding the date of this Agreement, the Company shall
cause its independent registered public accounting firm to furnish the Agent letters (the “Comfort Letters”), dated the date the Comfort Letter is delivered, which shall meet the requirements set forth in this
Section 7(n); provided, that if reasonably requested by the Agent, the Company shall cause a Comfort Letter to be furnished to the Agent within ten (10) Trading Days of the date of occurrence of any material
transaction or event, including the restatement of the Company’s financial statements. The Comfort Letter from the Company’s independent registered public accounting firm shall be in a form and substance satisfactory to the Agent,
(i) confirming that they are an independent registered public accounting firm within the meaning of the Securities Act and the PCAOB, (ii) stating, as of such date, the conclusions and findings of such firm with respect to the financial

  
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information and other matters ordinarily covered by accountants’ “comfort letters” to underwriters in connection with registered public offerings (the first such letter, the
“Initial Comfort Letter”) and (iii) updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate
to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. 

(o)    Market Activities. The Company will not, directly or indirectly, (i) take any action designed to cause
or result in, or that constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of Common Stock or (ii) sell, bid for, or purchase
Common Stock in violation of Regulation M, or pay anyone any compensation for soliciting purchases of the Placement Shares other than the Agent; provided that share withholding transactions upon the exercise of options or settlement of
restricted stock awards or restricted stock unit awards shall not be considered the purchase of Common Stock. 

(p)    Investment Company Act. The Company will conduct its affairs in such a manner so as to reasonably ensure
that neither it nor any of its Subsidiaries will be or become, at any time prior to the termination of this Agreement, required to register as an “investment company,” as such term is defined in the Investment Company Act. 

(q)    No Offer to Sell. Other than an Issuer Free Writing Prospectus approved in advance by the Company and the
Agent in its capacity as agent hereunder, neither the Agent nor the Company (including its agents and representatives, other than the Agent in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication
(as defined in Rule 405 under the Securities Act), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Placement Shares hereunder. 

(r)    Blue Sky and Other Qualifications. The Company will use its commercially reasonable efforts, in
cooperation with the Agent, to qualify the Placement Shares for offering and sale, or to obtain an exemption for the Placement Shares to be offered and sold, under the applicable securities laws of such states and other jurisdictions (domestic or
foreign) as the Agent may designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Placement Shares (but in no event for less than one year from the date of this Agreement);
provided, however, that the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to
subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Shares have been so qualified or exempt, the Company will file such statements and
reports as may be required by the laws of such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Shares (but in no event for less than one year from
the date of this Agreement). 
 (s)    Sarbanes-Oxley Act. The Company and the Subsidiaries will maintain and
keep accurate books and records reflecting their assets and maintain internal accounting controls in a manner designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for
external purposes in 

  
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accordance with GAAP and including those policies and procedures that (i) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and
dispositions of the assets of the Company, (ii) provide reasonable assurance that transactions are recorded as necessary to permit the preparation of the Company’s financial statements in accordance with GAAP, (iii) that receipts and
expenditures of the Company are being made only in accordance with management’s and the Company’s directors’ authorization, and (iv) provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of the Company’s assets that would have a material effect on its financial statements. The Company and the Subsidiaries will maintain such controls and other procedures, including, without limitation, those
required by Sections 302 and 906 of the Sarbanes-Oxley Act, and the applicable regulations thereunder that are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act
is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms, including, without limitation, controls and procedures designed to ensure that information required to be disclosed by the
Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the Company’s management, including its principal executive officer and principal financial officer, or persons performing similar
functions, as appropriate to allow timely decisions regarding required disclosure and to ensure that material information relating to the Company or the Subsidiaries is made known to them by others within those entities, particularly during the
period in which such periodic reports are being prepared. 
 (t)    Secretary’s Certificate; Further
Documentation. On or prior to the date of the first Placement Notice, the Company shall deliver to the Agent a certificate of the Secretary of the Company and attested to by an executive officer of the Company, dated as of such date, certifying
as to (i) the Certificate of Incorporation of the Company, (ii) the By-laws of the Company, (iii) the resolutions of the Board of Directors of the Company, or a duly authorized committee of the
Board of Directors, authorizing the execution, delivery and performance of this Agreement and the issuance of the Placement Shares and (iv) the incumbency of the officers duly authorized to execute this Agreement and the other documents
contemplated by this Agreement. Within five (5) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to Section 7(l) hereof for which no waiver is applicable, the Company
shall have furnished to the Agent such further information, certificates and documents as the Agent may reasonably request. 

(u)    Emerging Growth Company Status. The Company will promptly notify the Agent if the Company ceases to be an
Emerging Growth Company at any time during the term of this Agreement. 
 8.    Payment of Expenses. The Company
will pay all expenses incident to the performance of its obligations under this Agreement, including (i) the preparation and filing of the Registration Statement, including any fees required by the Commission, and the printing or electronic
delivery of the Prospectus as originally filed and of each amendment and supplement thereto relating to or effecting the Placement Shares, in such number as the Agent shall reasonably deem necessary, (ii) the printing and delivery to the Agent
of this Agreement and such other documents as may be reasonably required pursuant to this Agreement in connection with the offering, purchase, sale, issuance or delivery of the Placement Shares, (iii) the

  
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preparation, issuance and delivery of the certificates, if any, for the Placement Shares to the Agent, including any stock or other transfer taxes and any capital duties, stamp duties or other
duties or taxes payable upon the sale, issuance or delivery of the Placement Shares to the Agent, (iv) the fees and disbursements of the counsel, accountants and other advisors to the Company, (v) the out-of-pocket fees and expenses of Agent including but not limited to the fees and expenses of the counsel to the Agent, payable upon the execution of this Agreement, in an amount not to exceed $50,000,
(vi) the qualification or exemption of the Placement Shares under state securities laws in accordance with the provisions of Section 7(r) hereof, including filing fees, but excluding fees of the Agent’s counsel,
(vii) the printing and delivery to the Agent of copies of any Permitted Issuer Free Writing Prospectus and the Prospectus and any amendments or supplements thereto in such number as the Agent shall reasonably deem necessary, (viii) the
preparation, printing and delivery to the Agent of copies of the blue sky survey, (ix) the fees and expenses of the transfer agent and registrar for the Common Stock, (x) the filing and other fees incident to any review by FINRA of the
terms of the sale of the Placement Shares including the fees of the Agent’s counsel (subject to the cap, set forth in clause (v) above), and (xi) the fees and expenses incurred in connection with the listing of the Placement Shares on
the Exchange. 
 9.    Representations and Covenants of Agent. The Agent represents and warrants that it is duly
registered as a broker-dealer under FINRA, the Exchange Act and the applicable statutes and regulations of each state in which the Placement Shares will be offered and sold, except such states in which Agent is exempt from registration or such
registration is not otherwise required. The Agent will comply in all material respects with all applicable laws and regulations in connection with the offer and sale of the Placement Shares, including, but not limited to, Regulation M under the
Securities Act. 
 10.    Conditions to Agent’s Obligations. The obligations of the Agent hereunder with
respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by the Agent
of a due diligence review satisfactory to it in its reasonable judgment, and to the continuing satisfaction (or waiver by the Agent in its sole discretion) of the following additional conditions: 

(a)    Registration Statement Effective. The Registration Statement shall have become effective and shall be
available for the (i) resale of all Placement Shares issued to the Agent and not yet sold by the Agent and (ii) sale of all Placement Shares contemplated to be issued by any Placement Notice. 

(b)    No Material Notices. None of the following events shall have occurred and be continuing: (i) receipt by
the Company of any request for additional information from the Commission or any other federal or state Governmental Authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective
amendments or supplements to the Registration Statement or the Prospectus; (ii) the issuance by the Commission or any other federal or state Governmental Authority of any stop order suspending the effectiveness of the Registration Statement or
the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Placement Shares for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose; or (iv) the occurrence of any event that makes any statement of a material fact made in the 

  
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Registration Statement or the Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue or that requires the making of any changes in the Registration
Statement, the Prospectus or documents so that, in the case of the Registration Statement, it will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading and, that in the case of the Prospectus, it will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading. 
 (c)    No Misstatement or Material Omission.
Agent shall not have advised the Company that the Registration Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in the Agent’s reasonable opinion is material, or omits to state a fact
that in the Agent’s reasonable opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading. 

(d)    Material Changes. Except as contemplated in the Prospectus, or disclosed in the Company’s reports filed
with the Commission, there shall not have been any material adverse change in the authorized capital stock of the Company or any Material Adverse Effect or any development that would reasonably be expected to cause a Material Adverse Effect, or a
downgrading in or withdrawal of the rating assigned to any of the Company’s securities (other than asset backed securities) by any rating organization or a public announcement by any rating organization that it has under surveillance or review
its rating of any of the Company’s securities (other than asset backed securities), the effect of which, in the case of any such action by a rating organization described above, in the reasonable judgment of the Agent (without relieving the
Company of any obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated in the Prospectus. 

(e)    Legal Opinions. The Agent shall have received the opinions of Company Counsel required to be delivered
pursuant to Section 7(m) on or before the date on which such delivery of such opinions is required pursuant to Section 7(m). 

(f)    Comfort Letter. The Agent shall have received the Comfort Letter required to be delivered pursuant to
Section 7(n) on or before the date on which such delivery of such Comfort Letter is required pursuant to Section 7(n). 

(g)    Representation Certificate. The Agent shall have received the certificate required to be delivered pursuant
to Section 7(l) on or before the date on which delivery of such certificate is required pursuant to Section 7(l). 

(h)    No Suspension. Trading in the Common Stock shall not have been suspended on the Exchange and the Common
Stock shall not have been delisted from the Exchange. 
 (i)    Other Materials. On each date on which the
Company is required to deliver a certificate pursuant to Section 7(l), the Company shall have furnished to the Agent such appropriate further information, opinions, certificates, letters and other documents as the Agent may reasonably request
and which are customarily furnished by an issuer of securities in connection with a securities offering. All such opinions, certificates, letters and other documents will be in compliance with the provisions hereof. 

  
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 (j)    Securities Act Filings Made. All filings with the Commission
required by Rule 424 with respect to an offering of the Placement Shares under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such
filing by Rule 424. 
 (k)    Approval for Listing. The Placement Shares shall either have been (i) approved
for listing on the Exchange, subject only to notice of issuance, or (ii) the Company shall have filed an application for listing of the Placement Shares on the Exchange at, or prior to, the issuance of any Placement Notice and the Exchange
shall have reviewed such application and not provided any objections thereto. 
 (l)    FINRA. If applicable,
FINRA shall have raised no objection to the terms of this offering and the amount of compensation allowable or payable to the Agent as described in the Prospectus. 

(m)    No Termination Event. There shall not have occurred any event that would permit the Agent to terminate this
Agreement pursuant to Section 13(a). 
 11.    Indemnification and Contribution. 

(a)    Company Indemnification. The Company agrees to indemnify and hold harmless the Agent, its affiliates and
their respective partners, members, directors, officers, employees and agents and each person, if any, who controls the Agent or any affiliate within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act as
follows: 
 (i)    against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or
several, arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), or the omission or alleged omission therefrom of a material fact required
to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included in any related Issuer Free Writing Prospectus or the Prospectus (or any
amendment or supplement thereto), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

(ii)    against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, to the
extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such
alleged untrue statement or omission; provided that (subject to Section 10(d) below) any such settlement is effected with the written consent of the Company, which consent shall not unreasonably be delayed or
withheld; and 
 (iii)    against any and all expense whatsoever, as incurred (including the fees and disbursements of
counsel), reasonably incurred in investigating, preparing or defending 

  
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against any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any
such alleged untrue statement or omission (whether or not a party), to the extent that any such expense is not paid under (i) or (ii) above, 

provided, however, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of
any untrue statement or omission or alleged untrue statement or omission made solely in reliance upon and in conformity with the Agent Information (as defined below). 

(b)    Agent Indemnification. Agent agrees to indemnify and hold harmless the Company and its directors and each
officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act against any and all loss, liability,
claim, damage and expense described in the indemnity contained in Section 11(a), as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any
amendments thereto), the Prospectus (or any amendment or supplement thereto) or any Issuer Free Writing Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with information relating to the Agent and furnished to
the Company in writing by the Agent expressly for use therein. The Company hereby acknowledges that the only information that the Agent has furnished to the Company expressly for use in the Registration Statement, the Prospectus or any Issuer Free
Writing Prospectus (or any amendment or supplement thereto) are the statements set forth in the seventh and eighth paragraphs under the caption “Plan of Distribution” in the Prospectus (the “Agent Information”).

 (c)    Procedure. Any party that proposes to assert the right to be indemnified under this
Section 11 will, promptly after receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this
Section 11, notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from
(i) any liability that it might have to any indemnified party otherwise than under this Section 11 and (ii) any liability that it may have to any indemnified party under the foregoing provision of this
Section 11 unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party. If any such action is brought against any indemnified party and it
notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of the
commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the
indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified party for any other legal expenses except as provided below and except for the reasonable costs of
investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at
the expense of such indemnified party unless (1) the employment of counsel 

  
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by the indemnified party has been authorized in writing by the indemnifying party, (2) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal
defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between
the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed
counsel to assume the defense of such action or counsel reasonably satisfactory to the indemnified party, in each case, within a reasonable time after receiving notice of the commencement of the action; in each of which cases the reasonable fees,
disbursements and other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same
jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm (plus local counsel) admitted to practice in such jurisdiction at any one time for all such indemnified party or parties. All such fees,
disbursements and other charges will be reimbursed by the indemnifying party promptly after the indemnifying party receives a written invoice relating to fees, disbursements and other charges in reasonable detail. An indemnifying party will not, in
any event, be liable for any settlement of any action or claim effected without its written consent. No indemnifying party shall, without the prior written consent of each indemnified party, settle or compromise or consent to the entry of any
judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section 11 (whether or not any indemnified party is a party thereto), unless such settlement, compromise or
consent (1) includes an express and unconditional release of each indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability arising out of such litigation, investigation, proceeding or claim
and (2) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. 

(d)    Settlement Without Consent if Failure to Reimburse. If an indemnified party shall have requested an
indemnifying party to reimburse the indemnified party for reasonable fees and expenses of counsel for which it is entitled to reimbursement under this Section 11, such indemnifying party agrees that it shall be liable for
any settlement of the nature contemplated by Section 11(a)(ii) effected without its written consent if (1) such settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid
request, (2) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (3) such indemnifying party shall not have reimbursed such indemnified party
in accordance with such request prior to the date of such settlement. 
 (e)    Contribution. In order to provide
for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs of this Section 11 is applicable in accordance with its terms but for any reason is held to be
unavailable or insufficient from the Company or the Agent, the Company and the Agent will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in
connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted) to which the Company and the Agent may be subject in such proportion as shall be appropriate to reflect the relative benefits received by
the Company on the one hand and the Agent on the other hand. The relative benefits received by 

  
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the Company on the one hand and the Agent on the other hand shall be deemed to be in the same proportion as the total net proceeds from the sale of the Placement Shares (net of commissions to the
Agent but before deducting expenses) received by the Company bear to the total compensation received by the Agent from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided by the foregoing sentence is not
permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one
hand, and the Agent, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to
such offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by
the Company or the Agent, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Agent agree that it would not be just and equitable if
contributions pursuant to this Section 11(e) were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an
indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this Section 11(e) shall be deemed to include, for the purpose of this Section 11(e), any legal or
other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with Section 11(c) hereof. Notwithstanding the foregoing provisions of this
Section 11(e), the Agent shall not be required to contribute any amount in excess of the commissions received by it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 11(e), any person who controls a party to this Agreement within the meaning of the
Securities Act, any affiliate of the Agent and any officers, directors, partners, employees or agents of the Agent or any of its affiliates, will have the same rights to contribution as that party, and each director of the Company and each officer
of the Company who signed the Registration Statement will have the same rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any
action against such party in respect of which a claim for contribution may be made under this Section 11(e), will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party
or parties from whom contribution may be sought from any other obligation it or they may have under this Section 11(e) except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or
defenses of the party from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of Section 11(c) hereof, no party will be liable for contribution with respect to any action or claim settled without
its written consent if such consent is required pursuant to Section 11(c) hereof. 
 12.    Representations
and Agreements to Survive Delivery. The indemnity and contribution agreements contained in Section 11 of this Agreement and all representations and warranties of the Company or the Agent herein or in certificates
delivered pursuant hereto shall survive, as of their respective dates, regardless of (i) any investigation made by or on behalf of 

  
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the Agent, any controlling persons, or the Company (or any of their respective officers, directors, or controlling persons), (ii) delivery and acceptance of the Placement Shares and payment
therefor or (iii) any termination of this Agreement. 
 13.    Termination. 

(a)    The Agent may terminate this Agreement, by notice to the Company, as hereinafter specified at any time (1) if
there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any change, or any development or event involving a prospective change, in the condition, financial or otherwise, or
in the business, properties, earnings, results of operations or prospects of the Company and its Subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, which individually or in the aggregate, in the
sole judgment of the Agent is material and adverse and makes it impractical or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (2) if there has occurred any material adverse change in the
financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international
political, financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of the Agent, impracticable or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement
Shares, (3) if trading in the Common Stock has been suspended or limited by the Commission or the Exchange, or if trading generally on the Exchange has been suspended or limited, or minimum prices for trading have been fixed on the Exchange,
(4) if any suspension of trading of any securities of the Company on any exchange or in the over-the-counter market shall have occurred and be continuing,
(5) if a major disruption of securities settlements or clearance services in the United States shall have occurred and be continuing, or (6) if a banking moratorium has been declared by either U.S. Federal or New York authorities. Any such
termination shall be without liability of any party to any other party except that the provisions of Section 8 (Payment of Expenses), Section 11 (Indemnification and Contribution),
Section 12 (Representations and Agreements to Survive Delivery), Section 18 (Governing Law and Time; Waiver of Jury Trial) and Section 19 (Consent to Jurisdiction) hereof
shall remain in full force and effect notwithstanding such termination. If the Agent elects to terminate this Agreement as provided in this Section 13(a), the Agent shall provide the required notice as specified in
Section 14 (Notices). 
 (b)    The Company shall have the right, by giving ten (10) days
notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of
Section 8, Section 11, Section 12, Section 18 and Section 19 hereof shall remain in full force and effect
notwithstanding such termination. 
 (c)    The Agent shall have the right, by giving ten (10) days notice as
hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of
Section 8, Section 11, Section 12, Section 18 and Section 19 hereof shall remain in full force and effect
notwithstanding such termination. 

  
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 (d)    This Agreement shall remain in full force and effect unless terminated
pursuant to Sections 12(a), (b), or (c) above or otherwise by mutual agreement of the parties; provided, however, that any such termination by mutual agreement shall in all cases be deemed to provide that
Section 8, Section 11, Section 12, Section 18 and Section 19 shall remain in full force and effect. 

(e)    Any termination of this Agreement shall be effective on the date specified in such notice of termination;
provided, however, that such termination shall not be effective until the close of business on the date of receipt of such notice by the Agent or the Company, as the case may be. If such termination shall occur prior to the Settlement
Date for any sale of Placement Shares, such Placement Shares shall settle in accordance with the provisions of this Agreement. 

14.    Notices. All notices or other communications required or permitted to be given by any party to any other
party pursuant to the terms of this Agreement shall be in writing, unless otherwise specified, and if sent to the Agent, shall be delivered to: 

Cantor Fitzgerald & Co. 

499 Park Avenue 
 New York, NY
10022 
 Attention:        Capital Markets/Jeffrey Lumby 

Facsimile:        (212) 307-3730 

and: 
 Cantor Fitzgerald & Co. 

499 Park Avenue 
 New York, NY
10022 
 Attention:        General Counsel 

Facsimile:        (212) 829-4708 

with a copy to: 
 Cooley LLP 

1114 Avenue of the Americas 
 New
York, NY 10036 
 Attention:        Daniel I. Goldberg, Esq. 

Facsimile:        (212) 479-6275 

and if to the Company, shall be delivered to: 

Aldeyra Therapeutics, Inc. 
 131
Hartwell Avenue, Suite 320 
 Lexington, MA 02421 

Attention:        Chief Financial Officer 

Email:              stulipano@aldeyra.com 

  
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 with a copy to: 

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP 

One Marina Park Drive, Suite 900 

Boston, MA 02210 

Attention:        Keith J. Scherer 

Facsimile:        
617-648-9199 
 Email:              kscherer@gunder.com

 Each party to this Agreement may change such address for notices by sending to the parties to this Agreement written notice of a new
address for such purpose. Each such notice or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an original to follow) on or before 4:30 p.m., New York City time, on a
Business Day or, if such day is not a Business Day, on the next succeeding Business Day, (ii) on the next Business Day after timely delivery to a nationally-recognized overnight courier and (iii) on the Business Day actually received if
deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement, “Business Day” shall mean any day on which the Exchange and commercial banks in the City of
New York are open for business. 
 An electronic communication (“Electronic Notice”) shall be deemed written notice
for purposes of this Section 14 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives verification of
receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic Notice”) which shall be sent to the
requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice. 

15.    Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Company and the
Agent and their respective successors and the parties referred to in Section 11 hereof. References to any of the parties contained in this Agreement shall be deemed to include the successors and permitted assigns of such party. Nothing in this
Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as
expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party; provided, however, that the Agent may assign its rights and obligations
hereunder to an affiliate thereof without obtaining the Company’s consent, so long as such affiliate is a registered broker dealer and Agent provides prior notice of such assignment to the Company. 

16.    Adjustments for Stock Splits. The parties acknowledge and agree that all share-related numbers contained in
this Agreement shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Placement Shares. 

17.    Entire Agreement; Amendment; Severability; Waiver. This Agreement (including all schedules and exhibits
attached hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject
matter hereof. Neither this Agreement nor any term hereof may be amended except 

  
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pursuant to a written instrument executed by the Company and the Agent. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is
held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms
and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder of the terms and provisions hereof shall
be in accordance with the intent of the parties as reflected in this Agreement. No implied waiver by a party shall arise in the absence of a waiver in writing signed by such party. No failure or delay in exercising any right, power, or privilege
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power, or privilege hereunder. 

18.    GOVERNING LAW AND TIME; WAIVER OF JURY TRIAL. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. EACH PARTY HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

19.    CONSENT TO JURISDICTION. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF
THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH ANY TRANSACTION CONTEMPLATED HEREBY, AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN
ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR PROCEEDING IS
IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF (CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED) TO SUCH PARTY
AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE
PROCESS IN ANY MANNER PERMITTED BY LAW. 
 20.    Counterparts. This Agreement may be executed 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. Delivery of an executed Agreement by one party to the other may be made by facsimile or electronic transmission. 

  
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 21.    Construction. The section and exhibit headings herein are
for convenience only and shall not affect the construction hereof. References herein to any law, statute, ordinance, code, regulation, rule or other requirement of any Governmental Authority shall be deemed to refer to such law, statute, ordinance,
code, regulation, rule or other requirement of any Governmental Authority as amended, reenacted, supplemented or superseded in whole or in part and in effect from time to time and also to all rules and regulations promulgated thereunder. 

 22.    Permitted Free Writing Prospectuses. The Company represents, warrants and agrees that, unless it
obtains the prior written consent of the Agent, which consent shall not be unreasonably withheld, conditioned or delayed, and the Agent represents, warrants and agrees that, unless it obtains the prior written consent of the Company, which consent
shall not be unreasonably withheld, conditioned or delayed, it has not made and will not make any offer relating to the Placement Shares that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a “free writing
prospectus,” as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented to by the Agent or by the Company, as the case may be, is hereinafter referred to as a “Permitted Free Writing
Prospectus.” The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an “issuer free writing prospectus,” as defined in Rule 433, and has complied and will
comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and record keeping. For the purposes of clarity, the parties hereto agree that
all free writing prospectuses, if any, listed in Exhibit 2 hereto are Permitted Free Writing Prospectuses. 

23.    Absence of Fiduciary Relationship. The Company acknowledges and agrees that: 

(a)    the Agent is acting solely as agent in connection with the public offering of the Placement Shares and in
connection with each transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders),
creditors or employees or any other party, on the one hand, and the Agent, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not the Agent has advised or
is advising the Company on other matters, and the Agent has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement; 

(b)    it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the
transactions contemplated by this Agreement; 
 (c)    neither the Agent nor its affiliates have provided any legal,
accounting, regulatory or tax advice with respect to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; 

(d)    it is aware that the Agent and its affiliates are engaged in a broad range of transactions which may involve
interests that differ from those of the Company and the Agent and its affiliates have no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and 

  
 -38- 

 (e)    it waives, to the fullest extent permitted by law, any claims it may
have against the Agent or its affiliates for breach of fiduciary duty or alleged breach of fiduciary duty in connection with the sale of Placement Shares under this Agreement and agrees that the Agent and its affiliates shall not have any liability
(whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf or in right of it or the Company, employees or creditors of the Company.

 24.    Definitions. As used in this Agreement, the following terms have the respective meanings set forth
below: 
 “Applicable Time” means (i) each Representation Date, (ii) the time of each sale of any
Placement Shares pursuant to this Agreement and (iii) each Settlement Date. 
 “Governmental Authority”
means (i) any federal, provincial, state, local, municipal, national or international government or governmental authority, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality,
court, tribunal, arbitrator or arbitral body (public or private); (ii) any self-regulatory organization; or (iii) any political subdivision of any of the foregoing. 

“Issuer Free Writing Prospectus” means any “issuer free writing prospectus,” as defined in Rule 433,
relating to the Placement Shares that (1) is required to be filed with the Commission by the Company, (2) is a “road show” that is a “written communication” within the meaning of Rule 433(d)(8)(i) whether or not
required to be filed with the Commission, or (3) is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Placement Shares or of the offering that does not reflect the final terms, in each case in the
form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant to Rule 433(g) under the Securities Act Regulations. 

“Rule 164,” “Rule 172,” “Rule 405,” “Rule
415,” “Rule 424,” “Rule 424(b),” “Rule 430B,” and
“Rule 433” refer to such rules under the Securities Act Regulations. 
 All
references in this Agreement to financial statements and schedules and other information that is “contained,” “included” or “stated” in the Registration Statement or the Prospectus (and all other references of like
import) shall be deemed to mean and include all such financial statements and schedules and other information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. 

All references in this Agreement to the Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be
deemed to include the copy filed with the Commission pursuant to EDGAR; all references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be
filed with the Commission) shall be deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to “supplements” to the Prospectus shall include, without limitation, any supplements,
“wrappers” or similar materials prepared in connection with any offering, sale or private placement of any Placement Shares by the Agent outside of the United States. 

[Signature Page Follows] 

  
 -39- 

 If the foregoing correctly sets forth the understanding between the Company and the Agent, please
so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and the Agent. 
  

					
		 	Very truly yours,
	
	ALDEYRA THERAPEUTICS, INC.
		
	By:	 	 /s/ Todd C. Brady, M.D., Ph.D.

		 	Name: Todd C. Brady, M.D., Ph.D.
		 	Title:   President and Chief Executive Officer
		
		 	ACCEPTED as of the date first-above written:
		
		 	CANTOR FITZGERALD & CO.
			
		 	By:	 	 /s/ Jeffrey Lumby

		 		 	Name: Jeffrey Lumby
		 		 	Title:   Head of Equity Capital Markets

 SCHEDULE 1 

 
  

Form of Placement Notice 
  

 
  

			
	From:	  	Aldeyra Therapeutics, Inc.
		
	To:	  	 Cantor Fitzgerald & Co.
 Attention:
[●]

		
	Subject:	  	Placement Notice
		
	Date:	  	[●], 201[●]
	
	Ladies and Gentlemen:

 Pursuant to the terms and subject to the conditions contained in the Sales Agreement between Aldeyra
Therapeutics, Inc., a Delaware corporation (the “Company”), and Cantor Fitzgerald & Co. (“Agent”), dated June 2, 2017, the Company hereby requests that the Agent sell up to [●] of
the Company’s common stock, par value $0.001 per share, at a minimum market price of $[●] per share, during the time period beginning [month, day, time] and ending [month, day, time]. 

 SCHEDULE 2 

 
  

Compensation 
  

 
 The Company
shall pay to the Agent in cash, upon each sale of Placement Shares pursuant to this Agreement, an amount equal to 3.0% of the aggregate gross proceeds from each sale of Placement Shares. 

 SCHEDULE 3 

 
  

Notice Parties 
  

 
 The Company 

Stephen J. Tulipano (stulipano@aldeyra.com) 
 With copies to:

 Keith J. Scherer (kscherer@gunder.com) 
 The Agent

 Jeffrey Lumby (jlumby@cantor.com) 
 Joshua Feldman
(jfeldman@cantor.com) 
 Sameer Vasudev (svasudev@cantor.com) 

With copies to: 
 CFControlledEquityOffering@cantor.com 

 SCHEDULE 4 

 
  

Subsidiaries 
  

 
 None.

 
Exhibit 2 
 Permitted Free Writing Prospectus 

None.

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