Document:

Exchange Agreement

 Exhibit 10.16 
 EXCHANGE AGREEMENT 
 THIS EXCHANGE
AGREEMENT (this “Agreement”) is made and entered as of June 26, 2008, by and among Express Parent LLC, a Delaware limited liability company (“Parent”), Express Topco LLC, a Delaware limited liability
company (“Topco”), Express Holding, LLC, a Delaware limited liability company (“Holding”), and the persons and entities listed on Schedule I attached hereto (each, a “Securityholder,” and
collectively, the “Securityholders”). 
 WHEREAS, each of the Securityholders is an owner of such number
and type of issued and outstanding equity interests of Express Holding, LLC, a Delaware limited liability company, as are set forth opposite the name of such Securityholder on Schedule I attached hereto (the “Contributed
Securities”). 
 WHEREAS, the parties hereto desire that each Securityholder shall contribute transfer, assign
and deliver to Parent, and Parent shall accept, assume and receive from such Securityholder, as a contribution to its capital, all right, title and interest in and to the Contributed Securities in exchange for issuance by Parent to such
Securityholder of an equivalent number and type of Parent’s equity interests as indicated on Schedule I attached hereto (the “Parent Securities”). 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows: 
 1. Contribution. Each Securityholder hereby contributes, transfers, assigns and delivers to Parent,
and Parent hereby accepts, acquires, assumes and receives from such Securityholder, as a contribution to its capital, all right, title and interest in and to the Contributed Securities indicated opposite the name of such Securityholder under the
caption “Contributed Securities” on Schedule I attached hereto, in exchange for the issuance by Parent to such Securityholder of the Parent Securities indicated opposite the name of such Securityholder under the caption “Parent
Securities” on Schedule I hereto. The amount of the capital contributions with respect to the Parent Securities are set forth on Schedule I to the Limited Liability Company Agreement of Parent dated as of the date hereof (the
“Parent LLC Agreement”). Each Securityholder has contemporaneously herewith executed and delivered a copy of the Parent LLC Agreement, which is attached hereto as Exhibit A. The Securityholders agree that the initial Board of
Managers of Parent shall be identical to the Board of Managers of Holding as of the date hereof. 
 2. Restricted and Pledged
Interests. 
 (a) Pledged Interests. Michael A. Weiss (“Weiss”) hereby acknowledges and agrees that
the Parent Securities issued to Weiss hereunder are subject in all respects to the terms of that certain Pledge Agreement, dated July 6, 2007, between Holding and Weiss (the “Pledge Agreement”) as Pledged Interests (as defined
in the Pledge Agreement). 
  

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 (b) Executive Unit Purchase Agreement. Each of (i) Weiss, (ii) the Weiss
Family 2008 Irrevocable Trust Alpha under Agreement with Michael A. Weiss, as Grantor, dated March 13, 2008, (iii) the Weiss Family 2008 Irrevocable Trust Beta under Agreement with Michael A. Weiss, as Grantor, dated March 13, 2008,
(iv) the Weiss Descendants 2008 Irrevocable Trust under Agreement with Michael A. Weiss, as Grantor, dated March 13, 2008, and (v) Arlene Weiss (collectively, the “Weiss Group”) hereby acknowledges and agrees that the
Parent Securities issued to such member of the Weiss Group hereunder are subject in all respect to the terms of that certain Executive Unit Purchase Agreement, dated as of July 6, 2007, between Holding and Weiss (the “Executive Unit
Purchase Agreement”); provided that all references in the Executive Unit Purchase Agreement to “Holding” and the “Amended and Restated Limited Liability Agreement of Holding” shall hereafter be deemed to be a reference
to “Parent” and the “Parent LLC Agreement”, respectively. 
 3. Addition of Parent and Topco to Certain
Agreements. In order to reflect the fact that each of Parent and Topco are now part of the Express family of companies, each of Parent and Topco shall be deemed to be joint and several obligors together with each of Holding and Express, LLC (as
the case may be) pursuant to each of that certain Unconditional Guaranty, dated as of July 6, 2007, made by Holding in favor of the Limited Entities (as defined therein) and that certain Advisory Agreement, dated as of July 6, 2007, among
Holding, Express, LLC, and the other party thereto. Each of the counterparties to the aforementioned agreements (including each of the Limited Entities) shall be intended third party beneficiaries of this Agreement. 
 4. Representations and Warranties of Parent, Topco and Holding. As a material inducement to the Securityholders to enter into this
Agreement and perform their obligations hereunder, each of Parent, Topco and Holding hereby represents and warrants to the Securityholders as of the date hereof as follows: 
 (a) Organization and Corporate Power. Each of Parent, Topco and Holding is a limited liability company duly organized, validly
existing and in good standing under the laws of the State of Delaware. Each of Parent, Topco and Holding possesses all requisite corporate power and authority to carry out the transactions contemplated by this Agreement. 
 (b) Capitalization. As of the date hereof, there are not outstanding any equity interests of Parent or securities convertible or
exchangeable for equity interests of Parent, nor are there outstanding any rights or options to subscribe for or to purchase any equity interests of Parent or any securities convertible into or exchangeable for equity interests of Parent or any
equity appreciation rights or phantom equity plans relating to Parent, except for the Parent Securities issued pursuant hereto and set forth on Schedule I hereto. All of the Parent Securities issued pursuant hereto have been validly issued,
and are fully paid and nonassessable. Immediately following the consummation of the transactions contemplated hereby (and the subsequent contribution of the Contributed Securities by Parent to Topco), Parent will own 100% of the issued and
outstanding equity of Topco, and Topco will own 100% of the issued and outstanding equity of Holding. 
  

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 (c) Authorization. The execution, delivery and performance of this Agreement have
been duly authorized by all necessary limited liability company action on the part of each of Parent, Topco and Holding. 
 (d)
Conflicts. The execution, delivery and performance of this Agreement by each of Parent, Topco and Holding does not conflict with, violate or result in the breach of, or create any lien or encumbrance on the Parent Securities pursuant to any
agreement, instrument, order, judgment, decree, law or governmental regulation to which any of them is a party or is subject or by which the Parent Securities are bound, except for federal and state securities laws. 
 5. Representations and Warranties of the Securityholders. As a material inducement to Parent to enter into this Agreement and to
perform its obligations hereunder, each Securityholder hereby severally represents and warrants to Parent, Topco and Holding as of the date hereof as follows: 
 (a) Authorization. Such Securityholder possesses all requisite power and authority to carry out the transactions contemplated by this Agreement. The execution, delivery and performance of this
Agreement have been duly authorized by all necessary action on the part of such Securityholder. 
 (b) Conflicts. The
execution, delivery and performance of this Agreement by such Securityholder does not and will not conflict with, violate or result in the breach of, or create any lien or encumbrance on the Contributed Securities or the Parent Securities pursuant
to any agreement, instrument, order, judgment, decree, law or governmental regulation to which such Securityholder is a party or is subject or by which the Contributed Securities or the Parent Securities are bound, except for federal and state
securities laws and except for any restrictions pursuant to the LLC Agreements of each of Parent and Holding (it being agreed that each of the parties hereto hereby waives any such restriction which would otherwise prohibit the transactions
contemplated by this Agreement). 
 (c) Title to Securities; No Encumbrances. Such Securityholder owns the Contributed
Securities listed on Schedule I opposite the name of such Securityholder, free and clear of any and all liens, options, rights of first refusal, co-sale rights, security interests and other encumbrances other than (i) those set forth in
the Holding LLC Agreement, (ii) in the case of the Weiss Group, those set forth in the Executive Unit Purchase Agreement and (iii) in the case of Weiss, those set forth in the Pledge Agreement. No Securityholder is a party to any contract
or arrangement restricting the transfer or otherwise relating to or affecting any of the Contributed Securities held by such Securityholder, and there are no voting trusts, proxies or other agreements or understandings with respect to the voting or
transfer of such Contributed Securities, other than (i) the Holding LLC Agreement, (ii) in the case of the Weiss Group, the Executive Unit Purchase Agreement and (iii) in the case of Weiss, the Pledge Agreement. Such Securityholder
does not own any equity interests in Holding other than the Contributed Securities listed on Schedule I opposite the name of such Securityholder. 
  

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 (d) Investment. Such Securityholder hereby severally represents that such
Securityholder is acquiring the Parent Securities hereunder for such Securityholder’s own account with the present intention of holding such securities for investment purposes and that such Securityholder has no intention of selling such
securities in a public distribution in violation of the federal securities laws or any applicable state securities laws and is an “accredited” investor as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

 6. Survival. All representations, warranties, covenants and agreements contained herein or made in writing by any
party in connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 
 7. Entire Agreement. This Agreement, which includes each schedule and exhibit attached hereto and the other documents, agreements and instruments executed and delivered pursuant to this Agreement,
contains the entire agreement between the parties hereto with respect to the transactions contemplated by this Agreement and supersedes and preempts all prior arrangements, agreements or understandings with respect thereto, whether written or oral.

 8. Remedies. Each Securityholder acquiring Parent Securities hereunder will have all of the rights and remedies set
forth in this Agreement and the Parent LLC Agreement, as amended or modified from time to time in accordance therewith, and all of the rights and remedies which such Securityholders have been granted at any time under any other contract, and all of
the rights and remedies which such Securityholders have under applicable law. Any person or entity having any rights under any provision of this Agreement will be entitled to enforce such rights specifically, to recover damages by reason of any
breach of any provision of this Agreement, and to exercise all other rights granted by law. 
 9. Further Assurances. As
and when requested by Parent, each Securityholder shall, without further consideration, execute and deliver all such instruments of conveyance and transfer and shall take such further actions as are necessary to confirm the transfer of the
Contributed Securities to Parent. As and when requested by any Securityholder, Parent shall, without further consideration, execute and deliver all such instruments of conveyance and transfer and shall take such further actions as are necessary to
confirm the issuance of the Parent Securities to such Securityholder. 
 10. Descriptive Headings; Interpretation. The
descriptive headings of this Agreement are for convenience of reference only and shall not control or affect the meaning or construction of any provision of this Agreement. Whenever required by the context, any pronoun used in this Agreement shall
include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa. Unless the context of this Agreement clearly requires otherwise, (a) “or” has
the inclusive meaning frequently identified with the phrase “and/or,” (b) “including” has the inclusive meaning frequently identified with the phrase “but not limited to” or “without limitation” and
(c) references “hereunder” or “herein” relate to this Agreement. 
 11. Notices. All notices or
other communications which are required or permitted hereunder shall be made in accordance with Section 11.01 of the Parent LLC Agreement. 
  

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 12. Successors and Assigns. This Agreement is intended to bind and inure to the
benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns, and any such permitted assignment shall be subject to all obligations and liabilities of the assigning party. 
 13. Miscellaneous. This Agreement shall be subject to the Governing Law (Section 11.08), Jurisdiction (Section 11.09) and Waiver of
Jury Trial (Section 11.10) provisions of the Parent LLC Agreement as if fully set forth in this Agreement. 
 14.
Severability. If any term or provision of this Agreement shall, in any jurisdiction, be invalid or unenforceable, such term or provision shall be ineffective as to such jurisdiction to the extent of such invalidity or unenforceability without
invalidating or rendering unenforceable such term or provision in any other jurisdiction, or affecting any other provision of this Agreement. 
 15. Waivers and Amendments. Any waiver of any term or condition of this Agreement, or any amendment or supplement to this Agreement, shall be effective only if in writing and signed by the parties
hereto. A waiver of any breach or failure to enforce any of the terms or conditions of this Agreement shall not in any way affect, limit or waive a party’s rights hereunder at any time to enforce strict compliance thereafter with every term or
condition of this Agreement. 
 16. Counterparts. This Agreement may be executed in multiple counterparts (including by
means of electronic delivery or facsimile), each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. 
 *  *  *  *  * 
  

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 IN WITNESS WHEREOF, the undersigned parties have executed and delivered this Exchange
Agreement as of the date first set forth above. 
  

			
	EXPRESS PARENT LLC
		
	By:	 	/s/ Matthew Moellering
	Name:	 	Matthew Moellering
	Title:	 	Chief Financial Officer
	
	EXPRESS TOPCO LLC
		
	By:	 	/s/ Matthew Moellering
	Name:	 	Matthew Moellering
	Title:	 	Chief Financial Officer
	
	EXPRESS INVESTMENT CORP.
		
	By:	 	/s/ Joshua Olshansky
	Name:	 	Joshua Olshansky
	Title:	 	Vice President
	
	LIMITED BRANDS STORE OPERATIONS, INC.
		
	By:	 	/s/ Timothy J. Faber
	Name:	 	
	Title:	 	
	
	EXP INVESTMENTS, INC.
		
	By:	 	/s/ Timothy J. Faber
	Name:	 	
	Title:	 	
	
	EXPRESS MANAGEMENT INVESTORS BLOCKER INC.
		
	By:	 	/s/ Matthew Moellering
	Name:	 	Matthew Moellering
	Title:	 	Treasurer

  

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	WEISS FAMILY 2008 IRREVOCABLE TRUST
ALPHA UNDER AGREEMENT WITH
MICHAEL A. WEISS, AS GRANTOR, DATED
MARCH 13, 2008
		
	By:	 	/s/ Robert M. Clark
	Its: Senior Trust Officer
	
	WEISS FAMILY 2008 IRREVOCABLE TRUST BETA UNDER AGREEMENT WITH MICHAEL A. WEISS, AS GRANTOR, DATED MARCH 13, 2008
		
	By:	 	/s/ Robert M. Clark
	Its: Senior Trust Officer
	
	WEISS DESCENDANTS 2008 IRREVOCABLE TRUST UNDER AGREEMENT WITH MICHAEL A. WEISS, AS GRANTOR, DATED MARCH 13, 2008
		
	By:	 	/s/ Robert M. Clark
	Its: Senior Trust Officer
	
	/s/ Michael A. Weiss
	MICHAEL A. WEISS
	
	/s/ Arlene Weiss
	ARLENE WEISS

			
	EXPRESS HOLDING, LLC
		
	By:	 	/s/ Matthew Moellering
	Name:	 	Matthew Moellering
	Title:	 	Chief Financial OfficerStock Option Agreement

 Exhibit 10.1 
 NONSTATUTORY STOCK OPTION AGREEMENT 
 OMEGA PROTEIN
CORPORATION 
 2006 INCENTIVE PLAN 
 This Stock Option Agreement (the “Agreement”), is entered into as of February 9, 2010 between Omega Protein Corporation, a Nevada corporation (the “Company”), and David
A. Owen (the “Optionee”). 
 WITNESSETH: 
 WHEREAS, the Company has adopted the Omega Protein Corporation 2006 Incentive Plan (the “Plan”) to encourage officers, employees,
outside directors and consultants of the Company and its Subsidiaries to acquire or increase their ownership interest in the Company and to provide a means whereby they may develop a sense of proprietorship and personal involvement in the
development and financial success of the Company, and to encourage them to remain with and devote their best efforts to the business of the Company thereby advancing the interests of the Company and its stockholders; and 
 WHEREAS, the Plan provides that such selected individuals may be granted a certain number of Options (as defined in the Plan) to purchase
shares of the Common Stock, par value $.0l per share (“Common Stock”), of the Company to provide them with an ownership interest in the growth of the Company; and 
 WHEREAS, pursuant to Section 4.4 of the Plan, the Optionee, as an outside director of the Company, is entitled to an automatic grant of
a non-qualified option for a number of shares of Common Stock on the date of his election to the Board of Directors which was February 9, 2010; and 
 WHEREAS, the Board of Directors or Compensation Committee thereof has currently fixed the number of shares of Common Stock to be granted to a new director under Section 4.4 of the Plan at 14,200;

 NOW, THEREFORE, in consideration of the premises, the terms and conditions set forth herein, the mutual benefits to be gained
by the performance thereof and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Grant of Option. Pursuant to the Plan, the Company grants Optionee an option (the “Option” or
“Stock Option”) to purchase 14,200 full shares (the “Optioned Shares”) of Common Stock at an Option Price equal to $4.00 per share. The Date of Grant of this Stock Option is February 9, 2010. The “Option Period”
shall commence on the Date of Grant and shall expire on the date immediately preceding the tenth (10th) anniversary of the Date of Grant. The Stock Option is a Nonstatutory Stock Option. 
 2. Subject to Plan. The Stock Option and its exercise are subject to the terms and conditions of the Plan, and the terms of the Plan shall control to the extent not otherwise inconsistent with the provisions of this Agreement. The
capitalized terms used herein that are defined in the Plan shall have the same meanings assigned to them in the Plan. The Stock Option is subject to any rules promulgated pursuant to the Plan by the Committee. 

 3. Vesting: Time of Exercise. Except as specifically provided in this Agreement and
subject to certain restrictions and conditions set forth in the Plan, the Stock Option shall be 100% vested and exercisable six months and one day after the date of this Agreement 
 The Optionee shall also become 100% vested in the total Optioned Shares hereunder on the day preceding an event which constitutes a Change
in Control as defined in the Plan. 
 4. Term; Forfeiture. In the event that Optionee ceases to be a
director of the Company (a “Termination of Director Status”) for any reason other than Optionee’s death or disability or an Adverse Effect (as defined below), the Option outstanding on such date of Termination of Director Status, to
the extent vested on such date, may be exercised by Optionee (or, in the event of Optionee’s subsequent death, by Optionee’s Heir (as defined below)) until the expiration of the Option Period, but not thereafter. In no event shall the
Option be exercisable after the tenth (10th) anniversary of the Date of Grant. To the extent the Option is not vested on Optionee’s date of Termination of Director Status, the Option shall automatically lapse and be canceled unexercised as of such date. 
 In the event that an Adverse Event (as defined herein) occurs, any Option granted pursuant to this Agreement whether vested or unvested
shall be forfeited upon the date that the Adverse Event occurs. For purposes of this Agreement, “Adverse Event” shall mean (i) the Director’s final conviction of a felony crime that enriched the Director at the expense of the
Company; or (ii) a final adjudication by a court of competent jurisdiction that the Director has materially breached his or her fiduciary duty to the Company. For the purposes the definition of Adverse Effect, the term “Company”
includes Subsidiaries of the Company. 
 In the event of Optionee’s Termination of Director Status by
reason of death or disability, as defined by the Committee in its sole discretion pursuant to the terms of the Plan, the Option shall be fully vested on such date of termination and may be exercised by Optionee or, in the event of Optionee’s
death, by the person to whom Optionee’s rights shall pass by will or the laws of descent and distribution (“Heir”), at any time within the twelve (12) month period beginning on Optionee’s Termination of Director Status, but
not thereafter. However, in no event shall the Option be exercisable after the tenth (10th) anniversary of the Date of Grant. 
 5. Who May Exercise. Subject to
the terms and conditions set forth in Sections 3 and 4 above, during the lifetime of the Optionee, the Stock Option may be exercised only by the Optionee, or by the Optionee’s guardian or personal or legal representative (in the event of his or
her disability or by a broker dealer subject to Section 2.3 of the Plan). 
 6. No Fractional Shares. The Stock
Option may be exercised only with respect to full shares, and no fractional share of stock shall be issued. 

 7. Manner of Exercise. Subject to such administrative regulations as the Committee
may from time to time adopt, the Option may be exercised by the delivery of written notice to the Committee or designated Company representative setting forth the number of shares of Common Stock with respect to which the Option is to be exercised,
the date of exercise thereof (the “Exercise Date”) which shall be at least three (3) days after giving such notice unless an earlier time shall have been mutually agreed upon. On the Exercise Date, the Optionee shall deliver to the
Company consideration with a value equal to the total Option Price of the shares to be purchased, payable to the Company in full in either: (i) in cash or its equivalent, or (ii) subject to prior approval by the Committee in its
discretion, by tendering previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the total Option Price (provided that the Shares which are tendered must have been held by the Optionee for at least six
(6) months prior to their tender to satisfy the Option Price), or (iii) subject to prior approval by the Committee in its discretion, by withholding Shares which otherwise would be acquired on exercise having an aggregate Fair Market Value
at the time of exercise equal to the total Option Price, or (iv) subject to prior approval by the Committee in its discretion, by a combination of (i), (ii), and (iii) above. Any payment in Shares shall be effected by the surrender of such
Shares to the Company in good form for transfer and shall be valued at their Fair Market Value on the date when the Stock Option is exercised. Unless otherwise permitted by the Committee in its discretion, the Optionee shall not surrender, or attest
to the ownership of, Shares in payment of the Option Price if such action would cause the Company to recognize compensation expense (or additional compensation expense) with respect to the Option for financial reporting purposes. 
 The Committee, in its discretion, also may allow the Option Price to be paid with such other consideration as shall constitute lawful
consideration for the issuance of Shares (including, without limitation, effecting a “cashless exercise” with a broker of the Option), subject to applicable securities law restrictions and tax withholdings, or by any other means which the
Committee determines to be consistent with the Plan’s purpose and applicable law. A “cashless exercise” of an Option is a procedure by which a broker provides the funds to the Optionee to effect an Option exercise, to the extent
consented to by the Committee in its discretion. At the direction of the Optionee, the broker will either (i) sell all of the Shares received when the Option is exercised and pay the Optionee the proceeds of the sale (minus the Option Price,
withholding taxes and any fees due to the broker) or (ii) sell enough of the Shares received upon exercise of the Option to cover the Option Price, withholding taxes and any fees due the broker and deliver to the Optionee (either directly or
through the Company) a stock certificate for the remaining Shares. 
 As soon as practicable after receipt of a written
notification of exercise and full payment, the Company shall deliver, or cause to be delivered, to or on behalf of the Optionee, in the name of the Optionee or other appropriate recipient, Share certificates for the number of Shares purchased under
the Option. Such delivery shall be effected for all purposes when the Company or a stock transfer agent of the Company shall have deposited such certificates in the United States mail, addressed to Optionee or other appropriate recipient.

 If the Optionee fails to pay for any of the Shares specified in such notice or fails to accept delivery thereof, then the
Option, and right to purchase such Shares may be forfeited by the Company. 
 8. Nonassignability. The Stock Option is
not assignable or transferable by the Optionee except by will or by the laws of descent and distribution or pursuant to a domestic relations order that would qualify as a qualified domestic relations order as defined in Section 414(p) of the
Code, if such provision were applicable to the Stock Option and as otherwise permitted under Section 5.2 of the Plan. 

 9. Rights as Stockholder. The Optionee will have no rights as a stockholder with
respect to any shares covered by the Stock Option until the issuance of a certificate or certificates to the Optionee for the Optioned Shares. The Optioned Shares shall be subject to the terms and conditions of this Agreement and Plan regarding such
Shares. Except as otherwise provided in Section 10 hereof, no adjustment shall be made for dividends or other rights for which the record date is prior to the issuance of such certificate or certificates. 
 10. Adjustment of Number of Optioned Shares and Related Matters. The number of shares of Common Stock covered by the Stock Option,
and the Option Prices thereof, shall be subject to adjustment in accordance with Section 5.5 of the Plan. 
 11.
Nonstatutory Stock Option. The Stock Option shall not be treated as an Incentive Stock Option. 
 12. Community
Property. Each spouse individually is bound by, and such spouse’s interest, if any, in any Shares is subject to, the terms of this Agreement. Nothing in this Agreement shall create a community property interest where none otherwise exists.

 13. Optionee’s Representations. Notwithstanding any of the provisions hereof, the Optionee hereby agrees that he
will not exercise the Stock Option granted hereby, and that the Company will not be obligated to issue any shares to the Optionee hereunder, if the exercise thereof or the issuance of such shares shall constitute a violation by the Optionee or the
Company of any provision of any law or regulation of any governmental authority or Company policies, or the rules of the stock exchange on which the Common Stock is listed. Optionee acknowledges and agrees that if he or she is an officer, director
or key employee of the Company, Optionee will be subject to the Company’s securities trading policy as it may be in effect from time to time and which may “black out” periods of time during which the Stock Option may not be exercised
or which may also limit the amount of Shares that may be purchased or sold to a number that is less than requested by the Optionee. Any determination in this connection by the Company shall be final, binding, and conclusive. The obligations of the
Company and the rights of the Optionee are subject to all applicable laws, rules, and regulations, rules of the stock exchange on which the Common Stock is listed and policies of the Company. 
 14. Investment Representation. The Optionee represents and warrants to the Company that all Common Stock which may be purchased
hereunder will be acquired by the Optionee for investment purposes for his own account and not with any intent for resale or distribution in violation of federal or state securities laws. 
 15. Optionee’s Acknowledgments. The Optionee acknowledges receipt of a copy of the Plan and represents that he or she is
familiar with the terms and provisions thereof, and hereby accepts this Option subject to all the terms and provisions thereof. The Optionee hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Committee,
the Company or the Board, as appropriate, upon any questions arising under the Plan or this Agreement. 

 16. Law Governing. This Agreement shall be governed by, construed, and enforced in
accordance with the laws of the State of Nevada (excluding any conflict of laws rule or principle of Nevada law that might refer the governance, construction, or interpretation of this agreement to the laws of another state). 
 17. No Right to Continue Service or Employment. Nothing herein shall be construed to confer upon the Optionee the right to continue
in the employ or to provide services to the Company, its Affiliates or any Parent or Subsidiary or their Affiliates, whether as an employee or as a consultant or as an Outside Director, or interfere with or restrict in any way the right of the
Company or any of the other foregoing entities to discharge the Optionee as an employee, consultant or Outside Director at any time. 
 18. Legal Construction. In the event that any one or more of the terms, provisions, or agreements that are contained in this Agreement shall be held by a Court of competent jurisdiction to be invalid, illegal, or unenforceable in any
respect for any reason, the invalid, illegal, or unenforceable term, provision, or agreement shall not affect any other term, provision, or agreement that is contained in this Agreement and this Agreement shall be construed in all respects as if the
invalid, illegal, or unenforceable term, provision, or agreement had never been contained herein. 
 19. Covenants and
Agreements as Independent Agreements. Each of the covenants and agreements that is set forth in this Agreement shall be construed as a covenant and agreement independent of any other provision of this Agreement. The existence of any claim or
cause of action of the Optionee against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and agreements that are set forth in this Agreement.

 20. Entire Agreement. This Agreement together with the Plan supersede any and all other prior understandings and
agreements, either oral or in writing, between the parties with respect to the subject matter hereof and constitute the sole and only agreements between the parties with respect to the said subject matter. All prior negotiations and agreements
between the parties with respect to the subject matter hereof are merged into this Agreement. Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party
or by anyone acting on behalf of any party, which are not embodied in this Agreement or the Plan and that any agreement, statement or promise that is not contained in this Agreement or the Plan shall not be valid or binding or of any force or
effect. 
 21. Parties Bound. The terms, provisions, and agreements that are contained in this Agreement shall apply to,
be binding upon, and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, and permitted successors and assigns, subject to the limitation on assignment expressly set forth herein. No
person or entity shall be permitted to acquire any Optioned Shares without first executing and delivering an agreement in the form satisfactory to the Company making such person or entity subject to the restrictions on transfer contained herein.

 22. Modification. No change or modification of this Agreement shall be valid or
binding upon the parties unless the change or modification is in writing and signed by the parties. Notwithstanding the preceding sentence, the Company may amend the Plan or revoke this Stock Option to the extent permitted by the Plan. 

23. Headings. The headings that are used in this Agreement are used for reference and convenience purposes only and do not
constitute substantive matters to be considered in construing the terms and provisions of this Agreement. 
 24. Gender,
Number and Term Optionee. Words of any gender used in this Agreement shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires
otherwise. Whenever the term “Optionee” is used herein under circumstances applicable to any other person or persons to whom this award may be assigned in accordance with the provisions of Paragraph 8, the term “Optionee” shall
be deemed to include such person or persons. 
 25. Independent Legal and Tax Advice. Optionee acknowledges that the
Company has advised Optionee to obtain independent legal and tax advice regarding the grant and exercise of the Option and the disposition of any Shares acquired thereby. 
 26. Notice. Any notice required or permitted to be delivered hereunder shall be deemed to be delivered only when actually received by the Company or by the Optionee, as the case may be, at the
addresses set forth below, or at such other addresses as they have theretofore specified by written notice delivered in accordance herewith: 
  

	 	a.	Notice to the Company shall be addressed and delivered as follows: 

 Omega Protein Corporation 
 2105 CityWest Blvd, 
 Suite 500 
 Houston, Texas 77042 

	 	Attn:	John Held, Executive Vice President 

 and General Counsel 
 Fax: (713) 940-6122 
  

	 	b.	Notice to the Optionee shall be addressed and delivered to Optionee’s address as set forth in the Company’s records. 

 27. Tax Requirements. 
  

	 	a.	Tax Withholding. This Option is subject to and the Company shall have the power and the right to deduct or withhold, or require the Optionee to remit to the
Company, an amount sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of the Plan and this Option. 

 

	 	b.	Share Withholding. With respect to tax withholding required upon the exercise of Stock Options or upon any other taxable event arising as a result of the Stock
Option, Optionee may elect, subject to the approval of the Committee in its discretion, to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be
determined equal to the minimum statutory total tax which could be imposed on the transaction. All such elections shall be made in writing, signed by the Optionee, and shall be subject to any restrictions or limitations that the Committee, in its
discretion, deems appropriate. Any fraction of a Share required to satisfy such obligation shall be disregarded and the amount due shall instead be paid in cash by the Optionee. 

 [Signature Page Follows] 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and the Optionee, to evidence his consent and approval of all the terms hereof, has duly executed this Agreement, as of the date specified in Section 1 hereof. 
  

			
	COMPANY:
	
	OMEGA PROTEIN CORPORATION
		
	By:	 	      

	Name:	 	
	Title:	 	
	
	OPTIONEE:
	
	      

	DAVID A. OWEN

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