Document:

J. Crew Group, Inc. Amended and Restated 2008 Equity Incentive Plan

 Exhibit 4.3 

J. CREW GROUP, INC. 

AMENDED AND RESTATED 

2008 EQUITY INCENTIVE PLAN 

(Effective June 8, 2010) 
  

	1.	Purpose of the Plan 

This J. Crew Group, Inc. 2008 Equity Incentive Plan is intended to promote the interests of the Company and its stockholders by providing
the employees (our “associates”) and independent contractors of the Company, and eligible non-employee directors of J. Crew Group, Inc., who are largely responsible for the management, growth, and protection of the business of the Company,
with incentives and rewards to encourage them to continue in the service of the Company. The Plan is designed to meet this intent by providing such associates, independent contractors, and eligible non-employee directors with a proprietary interest
in pursuing the long-term growth, profitability, and financial success of the Company. 
  

	2.	Definitions 

 As
used in the Plan or in any instrument governing the terms of any Incentive Award, the following definitions apply to the terms indicated below: 

(a) “Board of Directors” means the Board of Directors of J. Crew Group, Inc. 

(b) “Cause” means, when used in connection with the termination of a Participant’s employment, unless otherwise provided
in any employment agreement with the Company to which the Participant is a party or the agreement evidencing Participant’s Incentive Award, the termination of the Participant’s employment by the Company or its affiliate on account of
(i) the willful violation by the Participant of any federal or state law or any rule of the Company or its affiliate, (ii) breach by a Participant of the Participant’s duty of loyalty to the Company and its affiliates in contemplation
of the Participant’s termination of employment, such as the Participant’s pre-termination of employment solicitation of customers or associates of the Company or its affiliate, (iii) the Participant’s unauthorized removal from
the premises of the Company or its affiliate of any document (in any medium or form) relating to the Company or its affiliate or the customers of the Company or its affiliate, or (iv) any gross negligence in connection with the performance of
the Participant’s duties as an associate. Any rights the Company or its affiliate may have hereunder in respect of the events giving rise to Cause shall be in addition to the rights the Company or its affiliate may have under any agreement with
the associate or at law or in equity. If, subsequent to a Participant’s termination of employment, it is discovered that such Participant’s employment could have been terminated for Cause, the Participant’s employment shall, at the
election of the Committee, in its sole discretion, be deemed to have been terminated for Cause retroactively to the date the events giving rise to Cause occurred. 

(c) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and all regulations, interpretations, and
administrative guidance issued thereunder. 
 (d) “Committee” means the Compensation Committee of the Board of
Directors or such other committee as the Board of Directors shall appoint from time to time to administer the Plan and to otherwise exercise and perform the authority and functions assigned to the Committee under the terms of the Plan. 

(e) “Common Stock” means J. Crew Group, Inc.’s Common Stock, $0.01 par value per share, or any other security into which
the common stock shall be changed pursuant to the adjustment provisions of Section 9 of the Plan. 
 (f)
“Company” means J. Crew Group, Inc. and all of its Subsidiaries and affiliates, collectively. 
  

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 (g) “Covered Employee” means a Participant who at the time of reference is a
“covered employee” as defined in Section 162(m) of the Code. 
 (h) “Deferred Compensation Plan” means
any plan, agreement, or arrangement maintained by the Company from time to time that is established or maintained under this Plan and that provides opportunities for deferral of compensation. 

(i) “Director” means a member of the Board of Directors who is not at the time of reference an associate of J. Crew Group, Inc.
or any of its Subsidiaries. 
 (j) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(k) “Fair Market Value” means, with respect to a share of Common Stock, as of the applicable date of determination (i) the
closing sale price (in regular trading) on that date (or on the immediately preceding business day if the date in question was not a business day) of a share of Common Stock as reported on the principal securities exchange on which shares of Common
Stock are then listed or admitted to trading or (ii) if not so reported, the closing sale price on that date (or on the immediately preceding business day if the date in question was not a business day) as reported on the National Association
of Securities Dealers Automated Quotation System or (iii) if not so reported, as furnished by any member of the National Association of Securities Dealers, Inc. selected by the Committee. In the event that the price of a share of Common Stock
shall not be so reported, the Fair Market Value of a share of Common Stock shall be determined by the Committee in its sole discretion. 

(l) “Good Reason” means, unless otherwise provided in any employment agreement with the Company to which the Participant is a
party or the agreement evidencing Participant’s Incentive Award, (i) a material diminution in a Participant’s duties and responsibilities other than a change in such Participant’s duties and responsibilities that directly results
from a Change in Control, (ii) a material decrease in a Participant’s base salary, bonus opportunity or benefits other than a decrease in benefits that applies to all associates of the Company or its affiliates otherwise eligible to
participate in the applicable benefit plan, or (iii) a relocation following a Change in Control of a Participant’s primary work location more than 50 miles from the work location immediately prior to the Change in Control, in each case
without the Participant’s written consent and provided, that, within sixty (60) days following the occurrence of any of the events set forth therein, the Participant has delivered written notice to the Committee of the
Participant’s intention to terminate the Participant’s employment for Good Reason and specifying the circumstances that the Participant believes constitute Good Reason, and the Company shall not have cured such circumstances (if
susceptible to cure) within thirty (30) days following receipt of such notice (or, in the event that such grounds cannot be corrected within such thirty (30) day period, the Company has not taken all reasonable steps within such thirty
(30) day period to correct such grounds as promptly as practicable thereafter). 
 (m) “Incentive Award” means an
Option or Other Stock-Based Award granted pursuant to the terms of the Plan. 
 (n) “J. Crew Group, Inc.” means J.
Crew Group, Inc., a Delaware corporation, and any successor thereto. 
 (o) “Non-Qualified Stock Option” means an
Option that is not an “incentive stock option” within the meaning of Section 422 of the Code. 
 (p)
“Option” means a stock option to purchase shares of Common Stock granted to a Participant pursuant to Section 6. 

(q) “Other Stock-Based Award” means an award granted to a Participant pursuant to Section 7. 

(r) “Participant” means a Director, associate, or independent contractor of the Company who is eligible to participate in the
Plan and to whom one or more Incentive Awards have been granted pursuant to the Plan and, following the death of any such Person, his successors, heirs, executors, and administrators, as the case may be. 

 

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 (s) “Performance-Based Compensation” means compensation that satisfies the
requirements of Section 162(m) of the Code for deductibility of remuneration paid to Covered Employees. 
 (t)
“Performance Measures” means such measures as are described in Section 8 on which performance goals are based in order to qualify certain awards granted hereunder as Performance-Based Compensation. 

(u) “Performance Period” means the period of time during which the performance goals must be met in order to determine the
degree of payout and/or vesting with respect to an Incentive Award that is intended to qualify as Performance-Based Compensation. Performance Periods may be overlapping. 

(v) “Performance Target” means performance goals and objectives with respect to a Performance Period. 

(w) “Person” means a “person” as such term is used in Sections 13(d) and 14(d) of the Exchange Act, including any
“group” within the meaning of Section 13(d)(3) of the Exchange Act. 
 (x) “Plan” means this J. Crew
Group, Inc. 2008 Equity Incentive Plan, as it may be amended from time to time. 
 (y) “Securities Act” means the
Securities Act of 1933, as amended. 
 (z) “Subsidiary” means any “subsidiary” within the meaning of Rule
405 under the Securities Act. 
 (aa) “Voting Securities” means, at any time, J. Crew Group, Inc.’s then
outstanding voting securities. 
  

	3.	Stock Subject to the Plan, Share Counting Rules, and Individual Award Limits 

 

	 	(a)	Stock Subject to the Plan 

The maximum number of shares of Common Stock that may be covered by Incentive Awards granted under the Plan shall not exceed 6,000,000
shares of Common Stock in the aggregate. Out of such aggregate, the maximum number of shares of Common Stock that may be covered by Options that are designated as “incentive stock options” within the meaning of Section 422 of the Code
shall not exceed 3,000,000 shares of Common Stock. The shares referred to in the preceding sentences of this paragraph shall in each case be subject to adjustment as provided in Section 9 and the following provisions of this Section 3.
Shares of Common Stock issued under the Plan may be either authorized and unissued shares or treasury shares, or both, at the sole discretion of the Committee. 
  

	 	(b)	Share Counting Rules 

 If
shares of Common Stock are issued subject to conditions which may result in the forfeiture, cancellation or expiration of such shares to the Company, any portion of the shares forfeited, cancelled or expired shall be treated as not issued pursuant
to the Plan and shall again be available for issuance under the Plan. Shares that are exchanged by a Participant or withheld by the Company or one of its Subsidiaries to satisfy the tax withholding obligations related to any Incentive Award, shall
not be available for issuance under the Plan. Incentive Awards which, pursuant to their terms, are to be settled solely in cash shall not reduce the number of shares of Common Stock available for Incentive Awards. 

Shares of Common Stock covered by Incentive Awards granted pursuant to the Plan in connection with the assumption, replacement,
conversion, or adjustment of outstanding equity-based awards in the context of a corporate acquisition or merger (within the meaning of Section 303A.08 of the New York Stock Exchange Listed Company Manual) as provided in Section 9 of the
Plan shall not count as used under the Plan for purposes of this Section 3. 
  

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	 	(c)	Individual Award Limits 

Subject to adjustment as provided in Section 9, the maximum number of shares of Common Stock that may be covered by Incentive Awards
granted under the Plan to any single Participant in any calendar year shall not exceed 3 million shares. 
  

	4.	Administration of the Plan 

  

	 	(a)	The Committee 

 The Plan
shall be administered by the Committee, which shall consist solely of two or more persons, each of whom qualifies as a “non-employee director” (within the meaning of Rule 16b-3 promulgated under Section 16 of the Exchange Act), as an
“outside director” within the meaning of Treasury Regulation Section 1.162-27(e)(3), and as “independent” within the meaning of any applicable stock exchange or similar regulatory authority; provided that, with
respect to any “independent” composition requirement under any rule of any applicable stock exchange or similar regulatory authority, the “independent” composition requirement shall be phased in pursuant to any applicable
transition period; provided further that, with respect to any Incentive Award granted to, or any determination made with respect to, any Person subject to Section 16 of the Exchange Act prior to the date the “independent”
composition requirement has been satisfied, such grant shall be approved by the full Board, and with respect to any Incentive Award granted to, or any determination made with respect to, any Covered Employee, prior to the date the
“independent” composition requirement has been satisfied, such grant shall be approved by approved by a subcommittee of the Committee that is composed solely of two or more “outside directors” within the meaning of Treasury
Regulation Section 1.162-27(e)(3). 
  

	 	(b)	Grant of Incentive Awards 

The Committee shall, consistent with the terms of the Plan, from time to time designate those associates and independent contractors of
the Company who shall be granted Incentive Awards under the Plan and the amount, type, and other terms and conditions of such Incentive Awards. The Board of Directors may, consistent with the terms of the Plan, from time to time grant Incentive
Awards to Directors. The Committee may prescribe agreements evidencing or setting the terms of any Incentive Awards, and amendments thereto, which documents and amendments need not be identical for each Participant. 

The Committee may also enter into agreements with third parties pursuant to which such third parties may issue Incentive Awards to the
Participants in lieu of the Company’s issuance thereof or assume the obligations of the Company under any Incentive Awards previously issued by the Company, in any case on such terms and conditions as may be determined by the Committee in its
sole discretion. 
 Incentive Awards granted under the Plan may, in the Committee’s discretion, be granted either alone or
in addition to, in tandem with, or in substitution or exchange for, any other Incentive Award, any award granted under another plan of the Company or any business entity to be acquired by the Company, or any other right of a Participant to receive
payment from the Company. Incentive Awards granted in addition to or in tandem with other Incentive Awards or awards may be granted either as of the same time as, or a different time from, the grant of such other Incentive Awards or awards.

  

	 	(c)	Delegation of Authority 

All of the powers and responsibilities of the Committee under the Plan may be delegated by the Committee, in writing, to any subcommittee
thereof, in which case the acts of such subcommittee shall be deemed to be acts of the Committee hereunder. The Committee may also from time to time authorize a subcommittee consisting of one or more members of the Board of Directors (including
members who are associates of the Company) or associates of the Company to grant Incentive Awards to persons who are not “executive officers” of the Company (within the meaning of Rule 16a-1 under the Exchange Act), subject to such
restrictions and limitations as the Committee may specify. 
  

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 In addition, the Committee may delegate the administration of the Plan to one or more
officers or associates of the Company, and such administrator(s) may have the authority to execute and distribute Incentive Award agreements or other documents evidencing or relating to Incentive Awards granted by the Committee under this Plan, to
maintain records relating to Incentive Awards, to process or oversee the issuance of Common Stock under Incentive Awards, to interpret and administer the terms of Incentive Awards, and to take such other actions as may be necessary or appropriate
for the administration of the Plan and of Incentive Awards under the Plan, provided that in no case shall any such administrator be authorized (i) to grant Incentive Awards under the Plan, (ii) to take any action that would cause Awards
intended to qualify as “performance-based compensation” under Code Section 162(m) to fail to so qualify, (iii) to take any action inconsistent with Section 409A of the Code or (iv) to take any action inconsistent with
Section 157 and other applicable provisions of the Delaware General Corporation Law. Any action by any such administrator within the scope of its delegation shall be deemed for all purposes to have been taken by the Committee and, except as
otherwise specifically provided, references in this Plan to the Committee shall include any such administrator. The Committee and, to the extent it so provides, any subcommittee, shall have sole authority to determine whether to review any actions
and/or interpretations of any such administrator, and if the Committee shall decide to conduct such a review, any such actions and/or interpretations of any such administrator shall be subject to approval, disapproval, or modification by the
Committee. 
 (d) Committee Discretion 

The Committee shall have full discretionary authority to administer the Plan, including discretionary authority to interpret and construe
any and all provisions of the Plan and the terms of any Incentive Award (and any agreement evidencing any Incentive Award) granted thereunder and to adopt and amend from time to time such rules and regulations for the administration of the Plan as
the Committee may deem necessary or appropriate. Without limiting the generality of the foregoing, the Committee shall determine whether an authorized leave of absence, or absence in military or government service, shall constitute termination of
employment; provided that, no payment shall be made with respect to any Incentive Award that is subject to Section 409A of the Code as a result of any such authorized leave of absence or absence in military or government service unless such
authorized leave or absence constitutes a separation from service for purposes of Section 409A of the Code. The employment of a Participant with the Company shall be deemed to have terminated for all purposes of the Plan if such person is
employed by or provides services to a Person that is a Subsidiary of the Company and such Person ceases to be a Subsidiary of the Company, unless the Committee determines otherwise. Decisions of the Committee shall be final, binding, and conclusive
on all parties. 
 On or after the date of grant of an Incentive Award under the Plan, the Committee may (i) in the event
of a Participant’s death, disability or retirement (in the case of disability and retirement, unless otherwise specified in the relevant grant agreement, as determined in accordance with the applicable policies and procedures of the Company as
in effect from time to time) or in the event of a Change in Control, accelerate the date on which any such Incentive Award becomes vested or exercisable, as the case may be, (ii) accelerate the date on which any such Incentive Award becomes
transferable, (iii) extend the term of any such Incentive Award, including, without limitation, extending the period following a termination of a Participant’s employment during which any such Incentive Award may remain outstanding,
(iv) waive any conditions to the vesting, exercisability, or transferability, as the case may be, of any such Incentive Award or (v) provide for the payment of dividends or dividend equivalents with respect to any such Incentive Award;
provided, that the Committee shall not have any such authority and shall not take any such action to the extent that the grant of such authority or the taking of such action would cause any tax to become due under Section 409A of the Code.

 The Committee may grant dividend equivalents to any Participant based on the dividends declared on shares of Common Stock
that are subject to any Incentive Award during the period between the date the Incentive Award is granted and the date the Incentive Award is exercised, vests, pays out, or expires. Such dividend equivalents may be awarded or paid in the form of
cash, shares of Common Stock, restricted stock, or restricted stock units, or a combination, and shall be determined by such formula and at such time and subject to such accrual, forfeiture, or payout restrictions or limitations as determined by the
Committee in its sole discretion. Dividend equivalents granted with respect to Options or stock appreciation rights that are intended to be Performance-Based Compensation shall be payable, with respect to pre-exercise periods, regardless of whether
such Option or stock appreciation right is subsequently exercised. 
  

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 (e) Payments by the Company 

The Company shall pay any amount payable with respect to an Incentive Award in accordance with the terms of such Incentive Award,
provided that the Committee may, in its discretion, defer the payment of amounts payable with respect to an Incentive Award subject to and in accordance with the terms of a Deferred Compensation Plan. Payments to be made by the Company upon the
exercise of an Option or other Incentive Award or settlement of an Incentive Award may be made in such forms as the Committee shall determine, including, without limitation, cash, Common Stock, other Incentive Awards or other property, and may be
made in a single payment or transfer, in installments, or on a deferred basis. The settlement of any Incentive Award may be accelerated, and cash paid in lieu of Common Stock in connection with such settlement, in the Committee’s discretion or
upon occurrence of one or more specified events; provided that, with respect to any Incentive Award subject to Section 409A of the Code, such acceleration or payment shall comply with Section 409A of the Code. 

The Company may, to the extent permitted by applicable law, deduct from and set off against any amounts the Company may owe to the
Participant from time to time (including amounts payable in connection with any Incentive Award, owed as wages, fringe benefits, or other compensation owed to the Participant), such amounts as may be owed by the Participant to the Company, although
the Participant shall remain liable for any part of the Participant’s payment obligation not satisfied through such deduction and setoff. By accepting any Incentive Award granted hereunder, the Participant agrees to any deduction or setoff
under this Section 4. 
 The Company may, to the extent deemed necessary or advisable by the Committee, postpone the
issuance or delivery of Common Stock or payment of other benefits under any Incentive Award until completion of such registration or qualification of such Common Stock or other required action under any federal or state law, rule or regulation,
listing or other required action with respect to any stock exchange or automated quotation system upon which the Common Stock or other securities of the Company are listed or quoted, or compliance with any other obligation of the Company, as the
Committee may consider appropriate, and may require any Participant to make such representations, furnish such information and comply with or be subject to such other conditions as it may consider appropriate in connection with the issuance or
delivery of Common Stock or payment of other benefits in compliance with applicable laws, rules, and regulations, listing requirements, or other obligations; provided that the Committee shall take no action to the extent that the taking of such
action would cause any tax to become due under Section 409A of the Code. The foregoing notwithstanding, in connection with a Change of Control, the Company shall take or cause to be taken no action, and shall undertake or permit to arise no
legal or contractual obligation, that results or would result in any postponement of the issuance or delivery of Common Stock or payment of benefits under any Incentive Award or the imposition of any other conditions on such issuance, delivery, or
payment, to the extent that such postponement or other condition would represent a greater burden on a Participant than existed on the 90th day preceding the Change of Control. 

The inability of the Company (after reasonable efforts) to obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company’s counsel to be necessary to the lawful issuance and/or sale of any Incentive Awards or shares of Common Stock hereunder, shall relieve the Company of any liability in respect of the failure to issue and/or sell such
Incentive Awards or shares of Common Stock as to which such requisite authority shall not have been obtained. 
 In addition,
the Committee may permit (including, without limitation, for purposes of deductibility under Section 162(m) of the Code) a Participant to defer such Participant’s receipt of the payment of cash or the delivery of shares of Common Stock
that would otherwise be due to such Participant in connection with any Incentive Award. 
 If any such deferral is required or
permitted, the Committee shall, in its sole discretion, establish rules and procedures, in accordance with Section 409A of the Code (to the extent applicable), for such payment or Common Stock delivery deferrals and any notional earnings to be
credited on such deferred amounts, provided that in the case of any Incentive Award intended to qualify as Performance-Based Compensation, such earnings shall be in compliance with Code Section 162(m) of the Code. 

 

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 (f) Limitation on Liability 

The Committee may employ attorneys, consultants, accountants, agents, and other persons, and the Committee, the Company, and its
officers, directors, and associates shall be entitled, in good faith, to rely or act upon any advice, opinions, or valuations of any such persons. In addition, the Committee and each member thereof, and any person acting pursuant to authority
delegated by the Committee, shall be entitled, in good faith, to rely or act upon any report or other information furnished by any officer, director, or associate of the Company, the Company’s independent auditors, consultants, or any other
agents assisting in the administration of the Plan. 
 No member of the Committee, nor any person acting pursuant to authority
delegated by the Committee, nor any officer, director, or associate of the Company acting at the direction or on behalf of the Committee, shall be liable for any action, omission, or determination relating to the Plan, and J. Crew Group, Inc. shall,
to the fullest extent permitted by law, indemnify and hold harmless each member of the Committee, each person acting pursuant to authority delegated by the Committee, and each other officer, director, or associate of the Company to whom any duty or
power relating to the administration or interpretation of the Plan has been delegated, against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a claim with the approval of the Committee) arising out
of any action, omission or determination relating to the Plan, unless, in either case, such action, omission, or determination was taken or made by such member, director, associate, or other person acting pursuant to authority delegated by the
Committee in bad faith and without reasonable belief that it was in the best interests of the Company. 
  

	5.	Eligibility 

 The
Persons who shall be eligible to receive Incentive Awards pursuant to the Plan shall be (a) those associates and independent contractors of the Company whom the Committee shall select from time to time and (b) Directors of the Company whom
the Board of Directors shall select from time to time. Eligible persons shall include any Person who has been offered employment by the Company, provided that such prospective associate may not receive any payment or exercise any right relating to
an Incentive Award until such person has commenced employment with the Company. An associate on leave of absence may be considered as still in the employ of the Company for purposes of eligibility for participation in the Plan, if so determined by
the Committee. In lieu of making Incentive Awards directly to Participants, the Committee may make Incentive Awards under the Plan through or to a trust or other funding vehicle which in turn makes Incentive Awards to Participants or which issues
interests in Incentive Awards held by it to Participants, in any case on such terms and conditions as may be determined by the Committee in its sole discretion. Each Incentive Award granted under the Plan shall be evidenced by an instrument in
writing in form and substance approved by the Committee. 
  

	6.	Options 

 The
Committee may from time to time grant Options, subject to the following terms and conditions: 
 (a) Exercise Price

 The exercise price per share of Common Stock covered by any Option shall be not less than 100% of the Fair Market Value of a
share of Common Stock on the date on which such Option is granted. The agreement evidencing the award of each Option shall fix the exercise price and shall clearly identify such Option as either an “incentive stock option” within the
meaning of Section 422 of the Code or as a Non-Qualified Stock Option. 
 (b) Term and Exercise of Options

 (1) Each Option shall become vested and exercisable on such date or dates, during such period, and for such number of shares
of Common Stock as shall be determined by the Committee on or after the date such Option is granted; provided, however, that no Option shall be exercisable after the expiration of ten years from the date such Option is granted; and,
provided, further, that each Option shall be subject to earlier termination, expiration, or cancellation as provided in the Plan or in the agreement evidencing such Option. 

 

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 (2) Each Option may be exercised in whole or in part. The partial exercise of an Option
shall not cause the expiration, termination, or cancellation of the remaining portion thereof. 
 (3) An Option shall be
exercised by such methods and procedures as the Committee determines from time to time, including without limitation through net physical settlement or other method of cashless exercise. 

(4) Options may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws
of descent or distribution and may be exercised, during the lifetime of a Participant, only by the Participant; provided, however, that the Committee may permit Non-Qualified Stock Options to be sold, pledged, assigned, hypothecated,
transferred, or disposed of, on a general or specific basis, subject to such conditions and limitations as the Committee may determine. In addition, the Committee may impose such restrictions on any shares acquired pursuant to the exercise of an
Option as it may deem advisable, including, without limitation, minimum holding period requirements, restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon which such shares are then listed
and/or traded, or under any blue sky or state securities laws applicable to such shares. 
 (5) Except in connection with a
corporate transaction involving the Company (including, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of
shares), the terms of outstanding awards may not be amended to reduce the exercise price of outstanding Options or stock appreciation rights or cancel outstanding Options or stock appreciation rights in exchange for cash, other awards or Options or
stock appreciation rights with an exercise price that is less than the exercise price of the original Options or stock appreciation rights without stockholder approval. 

(6) Regardless of the terms of any agreement evidencing an Incentive Award, the Committee shall have the right to substitute stock
appreciation rights for outstanding Options granted to any Participant, provided the substituted stock appreciation rights call for settlement by the issuance of shares of Common Stock, and the terms of the substituted stock appreciation rights and
economic benefit of such substituted stock appreciation rights are at least equivalent to the terms and economic benefit of the Options being replaced. 

(c) Effect of Termination of Employment or Other Relationship 

The agreement evidencing the award of each Option shall specify the consequences with respect to such Option of the termination of the
employment, service as a Director, or other relationship between the Company and the Participant holding the Option. 
 (d)
Special Rules for Incentive Stock Options 
 (1) The aggregate Fair Market Value of shares of Common Stock with respect
to which “incentive stock options” (within the meaning of Section 422 of the Code) are exercisable for the first time by a Participant during any calendar year under the Plan and any other stock option plan of J. Crew Group, Inc. or
any of its “subsidiaries” (within the meaning of Section 424 of the Code) shall not exceed $100,000. Such Fair Market Value shall be determined as of the date on which each such incentive stock option is granted. In the event that the
aggregate Fair Market Value of shares of Common Stock with respect to such incentive stock options exceeds $100,000, then incentive stock options granted hereunder to such Participant shall, to the extent and in the order required by regulations
promulgated under the Code (or any other authority having the force of regulations), automatically be deemed to be Non-Qualified Stock Options, but all other terms and provisions of such incentive stock options shall remain unchanged. In the absence
of such regulations (and authority), or in the event such regulations (or authority) require or permit a designation of the Options which shall cease to constitute incentive stock options, incentive stock options granted hereunder shall, to the
extent of such excess and in the order in which they were granted, automatically be deemed to be Non-Qualified Stock Options, but all other terms and provisions of such incentive stock options shall remain unchanged. 

(2) No incentive stock option may be granted to an individual if, at the time of the proposed grant, such individual owns stock
possessing more than ten percent of the total combined voting power of all classes of stock of J. Crew Group, Inc. or any of its “subsidiaries” (within the meaning of Section 424 of the Code), unless

  

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(i) the exercise price of such incentive stock option is at least one hundred and ten percent of the Fair Market Value of a share of Common Stock at the time such incentive stock option is
granted and (ii) such incentive stock option is not exercisable after the expiration of five years from the date such incentive stock option is granted. 
  

	7.	Other Stock-Based Awards 

The Committee may grant equity-based or equity-related awards not otherwise described herein in such amounts and subject to such terms and
conditions as the Committee shall determine. Without limiting the generality of the preceding sentence, each such Other Stock-Based Award may (i) involve the transfer of actual shares of Common Stock to Participants, either at the time of grant
or thereafter, or payment in cash or otherwise of amounts based on the value of shares of Common Stock, (ii) be subject to performance-based and/or service-based conditions, (iii) be in the form of stock appreciation rights, phantom stock,
restricted stock, restricted stock units, performance shares, deferred share units, or share-denominated performance units, (iv) be designed to comply with applicable laws of jurisdictions other than the United States, and (v) be designed
to qualify as Performance-Based Compensation; provided, that each Other Stock-Based Award shall be denominated in, or shall have a value determined by reference to, a number of shares of Common Stock that is specified at the time of the grant
of such award. With respect to awards to non-Director Participants of restricted stock subject only to service-based conditions, such awards shall vest over a period of no fewer than three years. Notwithstanding the foregoing, to the extent any such
Other Stock-Based Award is subject to Section 409A of the Code, the agreement evidencing the grant of such Other Stock-Based Award shall contain terms and conditions (including, without limitation and to the extent applicable, deferral and
payment provisions) that comply with Section 409A of the Code. 
  

	8.	Performance-Based Compensation 

(a) Calculation, Written Determinations, and Right of Recapture 

The amount payable with respect to an Incentive Award that is intended to qualify as Performance-Based Compensation shall be determined
in any manner permitted by Section 162(m) of the Code. 
 Determinations by the Committee as to the establishment of
Performance Measures, the level of actual achievement of performance goals, and the amount payable with respect to an Incentive Award intended to qualify as Performance-Based Compensation under Section 162(m) of the Code shall be recorded in
writing. Specifically, the Committee shall certify in writing, in a manner conforming to applicable regulations under Section 162(m) of the Code, prior to settlement of each such Incentive Award granted to a Covered Employee, that the
performance goals and other material terms upon which settlement of the Incentive Award was conditioned have been satisfied. 

If at any time after the date on which a Participant has been granted or becomes vested in an Incentive Award pursuant to the achievement
of a performance goal under Section 8, the Committee determines that the earlier determination as to the achievement of the performance goal was based on incorrect data and that in fact the performance goal had not been achieved or had been
achieved to a lesser extent than originally determined and a portion of an Incentive Award would not have been granted, vested, or paid given the correct data, then (i) such portion of the Incentive Award that was granted shall be forfeited and
any related shares of Common Stock (or, if such shares were disposed of, the cash equivalent) shall be returned to the Company as provided by the Committee, (ii) such portion of the Incentive Award that became vested shall be deemed to be not
vested and any related shares of Common Stock (or, if such shares were disposed of, the cash equivalent) shall be returned to the Company as provided by the Committee, and (iii) such portion of the Incentive Award paid to the Participant shall
be paid by the Participant to the Company upon notice from the Company as provided by the Committee. 
 (b) Discretionary
Reduction 
 The Committee may, in its discretion, reduce or eliminate the amount payable to any Participant with respect to
an Incentive Award that is intended to qualify as Performance-Based Compensation, based on such factors as the Committee may deem relevant, but the Committee may not increase any such amount above the amount established in accordance with the
relevant Performance Schedule. For purposes of clarity, the Committee may exercise the discretion provided for by the foregoing sentence in a non-uniform manner among Participants. 

 

 E-10 

 (c) Performance Measures 

The performance goals upon which the payment or vesting of any Incentive Award (other than Options and stock appreciation rights) to a
Covered Employee that is intended to qualify as Performance-Based Compensation depends shall (a) be objective business criteria and shall otherwise meet the requirements of Section 162(m) of the Code, including the requirement that the
level or levels of performance targeted by the Committee result in the achievement of performance goals being “substantially uncertain,” and (b) relate to one or more of the following Performance Measures: (i) net income or
operating net income (before or after taxes, interest, depreciation, amortization, and/or nonrecurring/unusual items), (ii) return on assets, return on capital, return on equity, return on economic capital, return on other measures of capital,
return on sales, or other financial criteria, (iii) revenue or net sales, (iv) gross profit or operating gross profit, (v) cash flow, (vi) productivity or efficiency ratios, (vii) share price or total shareholder return,
(viii) earnings per share, (ix) budget and expense management, (x) customer and product measures, including market share, high value client growth, and customer growth, (xi) working capital turnover and targets,
(xii) margins, (xiii) economic value added or other value added measurements, (xiv) customer satisfaction based on specific goals, such as customer survey results or loyalty measures, (xv) associate measures based on specified
goals, such as turnover, satisfaction surveys or sales per associate; staffing, diversity, training and development, (xvi) inventory turnover or inventory shrinkage, and (xvii) market penetration, geographic expansion or new concept
development, in any such case (x) considered absolutely or relative to historic performance or relative to one or more other businesses, (y) determined for the Company or any business unit or division thereof or any individual, and/or
(z) compared to the actual performance by a competitor or group of competitors determined in the discretion of the Committee. Performance goals may differ for Incentive Awards granted to any one Participant or to different Participants.

 The Committee shall determine the length of the Performance Period with respect to each Incentive Award that is intended to
be Performance-Based Compensation; provided that in no event shall such Performance Period be shorter than one fiscal year of the Company. Performance Periods may be overlapping. The Committee shall establish the Performance Targets and
Performance Schedules for such Performance Period within ninety (90) days of the commencement of such Performance Period. 

The measurement of any Performance Measure(s) may exclude the impact of charges for asset write-downs, litigation or claim judgments or
settlements, restructurings, discontinued operations, mergers, acquisitions, divestitures, foreign exchange gains and losses, extraordinary items, and other unusual or non-recurring items, and the cumulative effects of changes in tax laws,
accounting principles or regulations, or other laws or provisions affecting reporting results, each as defined by generally accepted accounting principles and as identified in the Company’s audited financial statements, including the notes
thereto. To the extent such inclusions or exclusions affect Incentive Awards to Covered Employees, they shall be prescribed in a form that meets the requirements of Section 162(m) of the Code for deductibility. Any Performance Measure(s) may be
used to measure the performance of the Company or a Subsidiary as a whole or any business unit of the Company or a Subsidiary or any combination thereof, as the Committee may deem appropriate, or any of the above Performance Measures as compared to
the performance of a group of comparator companies, or a published or special index that the Committee, in its sole discretion, deems appropriate. 

Nothing in this Section 8 is intended to limit the Committee’s discretion to adopt conditions with respect to any Incentive
Award that is not intended to qualify as Performance-Based Compensation that relate to performance other than the Performance Measures. In addition, the Committee may, subject to the terms of the Plan, amend previously granted Incentive Awards in a
way that disqualifies them as Performance-Based Compensation. 
 In the event that the requirements of Section 162(m) of
the Code and the regulations thereunder change to permit Committee discretion to alter the Performance Measures without obtaining stockholder approval of such changes, the Committee shall have sole discretion to make such changes without obtaining
stockholder approval. 
  

	9.	Adjustment Upon Certain Changes 

(a) Shares Available for Grants 

In the event of any change in the number of shares of Common Stock outstanding by reason of any stock dividend or split,
recapitalization, merger, consolidation, combination or exchange of shares, or similar corporate 
  

 E-11 

 
change, the maximum aggregate number of shares of Common Stock with respect to which the Committee may grant Incentive Awards in any year, and the maximum aggregate number of shares of Common
Stock with respect to which the Committee may grant Incentive Awards to any individual Participant in any year, shall be appropriately adjusted by the Committee. In the event of any change in the number of shares of Common Stock outstanding by
reason of any other similar event or transaction, including any extraordinary cash dividend, the Committee shall, to the extent deemed appropriate by the Committee, make such adjustments in the number and class of shares of Common Stock with respect
to which Incentive Awards may be granted. 
 (b) Increase or Decrease in Issued Shares Without Consideration 

Subject to any required action by the stockholders of J. Crew Group, Inc., in the event of any increase or decrease in the number of
issued shares of Common Stock resulting from a subdivision or consolidation of shares of Common Stock or the payment of a stock dividend (but only on the shares of Common Stock), or any other increase or decrease in the number of such shares
effected without receipt or payment of consideration by the Company, the Committee shall appropriately adjust the number of shares of Common Stock subject to each outstanding Incentive Award and the exercise price per share of Common Stock of each
such Incentive Award. 
 (c) Certain Mergers 

Subject to any required action by the stockholders of J. Crew Group, Inc., in the event that J. Crew Group, Inc. shall be the surviving
corporation in any merger, consolidation, or similar transaction as a result of which the holders of shares of Common Stock receive consideration consisting exclusively of securities of such surviving corporation, the Committee shall, to the extent
deemed appropriate by the Committee, adjust each Incentive Award outstanding on the date of such merger or consolidation so that it pertains and applies to the securities which a holder of the number of shares of Common Stock subject to such
Incentive Award would have received in such merger or consolidation. 
 (d) Certain Other Transactions 

In the event of (i) a dissolution or liquidation of J. Crew Group, Inc., (ii) a sale of all or substantially all of the
Company’s assets (on a consolidated basis), (iii) a merger, consolidation, or similar transaction involving J. Crew Group, Inc. in which J. Crew Group, Inc. is not the surviving corporation, or (iv) a merger, consolidation or similar
transaction involving J. Crew Group, Inc. in which J. Crew Group, Inc. is the surviving corporation but the holders of shares of Common Stock receive securities of another corporation and/or other property, including cash, the Committee shall, in
its sole discretion but subject to Section 409A of the Code to the extent applicable, have the power to: 

(i) cancel, effective immediately prior to the occurrence of such event, each Incentive Award (whether or not then
exercisable), and, in full consideration of such cancellation, pay to the Participant to whom such Incentive Award was granted an amount in cash, for each share of Common Stock subject to such Incentive Award, equal to the value, as determined by
the Committee in its reasonable discretion, of such Incentive Award, provided that with respect to any outstanding Option such value shall be equal to the excess of (A) the value, as determined by the Committee in its reasonable discretion, of
the property (including cash) received by the holder of a share of Common Stock as a result of such event over (B) the exercise price of such Option; 

(ii) provide for the exchange of each Incentive Award (whether or not then exercisable or vested) for an Incentive Award
with respect to, as appropriate, some or all of the property which a holder of the number of shares of Common Stock subject to such Incentive Award would have received in such transaction and, incident thereto, make an equitable adjustment as
determined by the Committee in its reasonable discretion in accordance with U.S. Department of Treasury Regulation Section 1.409A-1(b)(5)(v)(D) in the exercise price of the Incentive Award, and/or the number of shares or amount of property
subject to the Incentive Award or, if appropriate, provide for a cash payment to the Participant to whom such Incentive Award was granted in partial consideration for the exchange of the Incentive Award; or 

 

 E-12 

 (iii) any combination of (i) or (ii) above. 

(e) Other Changes 

In the event of any change in the capitalization of J. Crew Group, Inc. or corporate change other than those specifically referred to in
paragraphs(b), (c), or (d), the Committee shall make such adjustments in the number and class of shares subject to Incentive Awards outstanding on the date on which such change occurs and in such other terms of such Incentive Awards as the Committee
may consider appropriate. 
 (f) No Other Rights 

Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation of shares of
stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class, or any dissolution, liquidation, merger, or consolidation of J. Crew Group, Inc. or any other corporation. Except as expressly
provided in the Plan, no issuance by J. Crew Group, Inc. of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of
shares or amount of other property subject to, or the terms related to, any Incentive Award. 
 (g) Savings Clause

 No provision of this Section 9 shall be given effect to the extent that such provision would cause any tax to become due
under Section 409A of the Code. 
  

	10.	Rights Under the Plan 

No person shall have any rights as a stockholder with respect to any shares of Common Stock covered by or relating to any Incentive Award
granted pursuant to the Plan until the date of the issuance of a stock certificate with respect to such shares. Except as otherwise expressly provided in Section 9 hereof, no adjustment of any Incentive Award shall be made for dividends or
other rights for which the record date occurs prior to the date such stock certificate is issued. Nothing in this Section 10 is intended, or should be construed, to limit authority of the Committee to cause the Company to make payments based on
the dividends that would be payable with respect to any share of Common Stock if it were issued or outstanding, or from granting rights related to such dividends. 

Nothing in the Plan shall be construed to: (a) limit, impair, or otherwise affect the Company’s right or power to make
adjustments, reclassifications, reorganizations, or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or assets; or, (b) limit the right or power
of the Company to take any action which such entity deems to be necessary or appropriate. Neither the adoption of the Plan nor the grant of any Incentive Award shall be construed as creating any limitations on the power of the Board of Directors or
Committee to adopt such other compensation arrangements as it may deem desirable for any Participant. 
 The Company shall not
have any obligation to establish any separate fund or trust or other segregation of assets to provide for payments under the Plan. To the extent any person acquires any rights to receive payments hereunder from the Company, such rights shall be no
greater than those of an unsecured creditor. Nothing contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and any
Participant, beneficiary, legal representative, or any other person. The Plan is not subject to the Employee Retirement Income Security Act of 1974, as amended. 
  

	11.	No Special Employment Rights; No Right to Incentive Award 

(a) Nothing contained in the Plan or any Incentive Award shall confer upon any Participant any right with respect to the continuation of
his employment by or service to the Company or interfere in any way with the right of the Company at any time to terminate such employment or service or to increase or decrease the compensation of the Participant from the rate in existence at the
time of the grant of an Incentive Award. Neither an Incentive Award nor any rights arising under the Plan shall constitute an employment contract with the Company and, accordingly, the Plan and any Incentive Award hereunder may be terminated at any
time in the sole and exclusive discretion of the Committee without giving rise to any liability on the part of the Company. 
  

 E-13 

 (b) No person shall have any claim or right to receive an Incentive Award hereunder. The
Committee’s granting of an Incentive Award to a Participant at any time shall neither require the Committee to grant an Incentive Award to such Participant or any other Participant or other person at anytime nor preclude the Committee from
making subsequent grants to such Participant or any other Participant or other person. 
  

	12.	Securities Matters 

(a) J. Crew Group, Inc. shall be under no obligation to effect the registration pursuant to the Securities Act of any shares of Common
Stock to be issued hereunder or to effect similar compliance under any state laws. Notwithstanding anything herein to the contrary, J. Crew Group, Inc. shall not be obligated to cause to be issued or delivered any certificates evidencing shares of
Common Stock pursuant to the Plan unless and until J. Crew Group, Inc. is advised by its counsel that the issuance and delivery of such certificates is in compliance with all applicable laws, regulations of governmental authority and the
requirements of any securities exchange on which shares of Common Stock are traded. The Committee may require, as a condition to the issuance and delivery of certificates evidencing shares of Common Stock pursuant to the terms hereof, that the
recipient of such shares make such covenants, agreements, and representations, and that such certificates bear such legends, as the Committee deems necessary or desirable. 

(b) The exercise of any Option granted hereunder shall only be effective at such time as counsel to J. Crew Group, Inc. shall have
determined that the issuance and delivery of shares of Common Stock pursuant to such exercise is in compliance with all applicable laws, regulations of governmental authority, and the requirements of any securities exchange on which shares of Common
Stock are traded. J. Crew Group, Inc. may, in its sole discretion, defer the effectiveness of an exercise of an Option hereunder or the issuance or transfer of shares of Common Stock pursuant to any Incentive Award pending or to ensure compliance
under federal or state securities laws. J. Crew Group, Inc. shall inform the Participant in writing of its decision to defer the effectiveness of the exercise of an Option or the issuance or transfer of shares of Common Stock pursuant to any
Incentive Award. During the period that the effectiveness of the exercise of an Option has been deferred, the Participant may, by written notice, withdraw such exercise and obtain the refund of any amount paid with respect thereto. 

 

	13.	Tax Provisions & Withholding 

(a) Cash Remittance 

Whenever shares of Common Stock are to be issued upon the exercise of an Option or the grant or vesting of an Incentive Award, and
whenever any amount shall become payable in respect of any Incentive Award, J. Crew Group, Inc. shall have the right to require the Participant to remit to J. Crew Group, Inc. in cash an amount sufficient to satisfy federal, state, and local
withholding tax requirements, if any, attributable to such exercise, grant, vesting, or payment prior to the delivery of any certificate or certificates for such shares or the effectiveness of the lapse of such restrictions or making of such
payment. In addition, upon the exercise or settlement of any Incentive Award in cash, or any payment with respect to any Incentive Award, J. Crew Group, Inc. shall have the right to withhold from any payment required to be made pursuant thereto an
amount sufficient to satisfy the federal, state, and local withholding tax requirements, if any, attributable to such exercise, settlement, or payment. The Company can delay the delivery to a Participant of any Common Stock or cash payable to such
Participant to determine the amount of withholding to be collected and to collect and process such withholding. 
 (b) Stock
Remittance 
 At the election of the Participant, subject to the approval of the Committee, when shares of Common Stock are
to be issued upon the exercise, grant, or vesting of an Incentive Award, the Participant may tender to J. Crew Group, Inc. a number of shares of Common Stock that have been owned by the Participant for at least six months (or such other period as
the Committee may determine) having a Fair Market Value at the tender date determined by the Committee to be sufficient to satisfy the federal, state, and local withholding tax requirements, if any, attributable to such exercise, grant, or vesting
but not greater than such withholding obligations. Such election shall be irrevocable, 
  

 E-14 

 
made in writing, and signed by the Participant, shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate, and shall satisfy the
Participant’s obligations under Section 13 hereof, if any. The Company can delay the delivery to a Participant of any Common Stock or cash payable to such Participant to determine the amount of withholding to be collected and to collect
and process such withholding. 
 (c) Stock Withholding 

At the election of the Participant, subject to the approval of the Committee, when shares of Common Stock are to be issued upon the
exercise, grant, or vesting of an Incentive Award, J. Crew Group, Inc. shall withhold a number of such shares having a Fair Market Value at the exercise date determined by the Committee to be sufficient to satisfy the federal, state, and local
withholding tax requirements, if any, attributable to such exercise, grant, or vesting but not greater than such withholding obligations. Such election shall be irrevocable, made in writing, and signed by the Participant, shall be subject to any
restrictions or limitations that the Committee, in its sole discretion, deems appropriate, and shall satisfy the Participant’s obligations under Section 13 hereof, if any. The Company can delay the delivery to a Participant of any Common
Stock or cash payable to such Participant to determine the amount of withholding to be collected and to collect and process such withholding. 

(d) Consent to and Notification of Code Section 83(b) Election 

No election under Section 83(b) of the Code (to include in gross income in the year of transfer the amounts specified in Code
Section 83(b)) or under a similar provision of the laws of a jurisdiction outside the United States may be made unless expressly permitted by the terms of the Incentive Award document or by action of the Committee in writing prior to the making
of such election. In any case in which a Participant is permitted to make such an election in connection with an Incentive Award, the Participant shall notify the Company of such election within ten days of filing notice of the election with the
Internal Revenue Service or other governmental authority, in addition to any filing and notification required pursuant to regulations issued under Code Section 83(b) or other applicable provision. 

(e) Notification Upon Disqualifying Disposition Under Code Section 421(b) 

If any Participant shall make any disposition of shares of Common Stock delivered pursuant to the exercise of an incentive stock option
under the circumstances described in Code Section 421(b) (i.e., a disqualifying disposition), such Participant shall notify the Company of such disposition within ten days thereof. 

 

	14.	Amendment or Termination of the Plan 

The Board of Directors may at any time suspend or discontinue the Plan or revise or amend it in any respect whatsoever; provided,
however, that to the extent that any applicable law, regulation, or rule of a stock exchange requires stockholder approval in order for any such revision or amendment to be effective, such revision or amendment shall not be effective without
such approval. The preceding sentence shall not restrict the Committee’s ability to exercise its discretionary authority hereunder pursuant to Section 4 hereof, which discretion may be exercised without amendment to the Plan; provided that
no provision of this Section 14 shall be given effect to the extent that such provision would cause any tax to become due under Section 409A of the Code. 

Except as expressly provided in the Plan, no action hereunder may, without the consent of a Participant, reduce the Participant’s
rights under any previously granted and outstanding Incentive Award. Notwithstanding the foregoing, the Committee may terminate any Incentive Award previously granted and any agreement relating thereto in whole or in part provided that upon any such
termination the Company, in full consideration of the termination of (i) any Option outstanding under the Plan (whether or not vested or exercisable) or portion thereof, pays to such Participant an amount in cash for each share of Common Stock
subject to such Option or portion thereof being terminated equal to the excess, if any, of (a) the value at which a share of Common Stock received pursuant to the exercise of such Option would have been valued by the Company at that time for
purposes of determining applicable withholding taxes or other similar statutory amounts, over (b) the exercise price, or, if the Committee permits and the Participant elects, accelerates the exercisability of such Participant’s Option or
portion thereof (if necessary) and allows such Participant thirty (30) days to exercise such Option or portion thereof before the termination of such Option or portion thereof, or (ii) any Incentive Award other than an Option outstanding
under the Plan or portion 
  

 E-15 

 
thereof, pays to such Participant an amount in shares of Common Stock or cash or a combination thereof (as determined by the Committee in its sole discretion) equal to the value of such Incentive
Award or portion thereof being terminated as of the date of termination (assuming the acceleration of the exercisability of such Incentive Award or portion thereof, the lapsing of any restrictions on such Incentive Award or portion thereof or the
expiration of any deferral or vesting period of such Incentive Award or portion thereof) as determined by the Committee in its sole discretion; provided that, to the extent any such Incentive Award is subject to Section 409A of the Code, any
such payment (including, without limitation, the timing and form thereof) shall comply with Section 409A of the Code. 

Notwithstanding any other provision of the Plan to the contrary, the Committee may authorize the repurchase of any Incentive Award by the
Company or a third party at any time for such price and on such terms and conditions as the Committee may determine in its sole discretion. Nothing in the Plan shall limit the right of the Company to pay compensation of any kind outside the terms of
the Plan. 
  

	15.	No Obligation to Exercise 

The grant to a Participant of an Incentive Award shall impose no obligation upon such Participant to exercise such Incentive Award.

  

	16.	Transfer Restrictions 

Upon the death of a Participant, outstanding Incentive Awards granted to such Participant may be exercised only by the executors or
administrators of the Participant’s estate or by any person or persons who shall have acquired such right to exercise by will or by the laws of descent and distribution. No transfer by will or the laws of descent and distribution of any
Incentive Award, or the right to exercise any Incentive Award, shall be effective to bind J. Crew Group, Inc. unless the Committee shall have been furnished with (a) written notice thereof and with a copy of the will and/or such evidence as the
Committee may deem necessary to establish the validity of the transfer and (b) an agreement by the transferee to comply with all the terms and conditions of the Incentive Award that are or would have been applicable to the Participant and to be
bound by the acknowledgements made by the Participant in connection with the grant of the Incentive Award. 
 Except as provided
in the preceding paragraph (regarding transfers upon the death of a Participant) and Section 6 (regarding the transfer of certain Non-Qualified Stock Options), no Incentive Award or other right or interest of a Participant under the Plan shall
be pledged, hypothecated, or otherwise encumbered or subject to any lien, obligation, or liability of such Participant to any party (other than the Company), or assigned or transferred by such Participant, and such Incentive Awards or rights that
may be exercisable shall be exercised during the lifetime of the Participant only by the Participant or his or her guardian or legal representative, except that Incentive Awards and other rights (other than incentive stock options and stock
appreciation rights in tandem therewith) may be transferred to one or more transferees during the lifetime of the Participant, and may be exercised by such transferees in accordance with the terms of such Incentive Award, but only if and to the
extent such transfers are permitted by the Committee, subject to any terms and conditions which the Committee may impose thereon (which may include limitations the Committee may deem appropriate in order that offers and sales under the Plan will
meet applicable requirements of registration forms under the Securities Act of 1933 specified by the Securities and Exchange Commission). A beneficiary, transferee, or other person claiming any rights under the Plan from or through any Participant
shall be subject to all terms and conditions of the Plan and any Incentive Award document applicable to such Participant, except as otherwise determined by the Committee, and to any additional terms and conditions deemed necessary or appropriate by
the Committee. 
  

	17.	Expenses and Receipts 

The expenses of the Plan shall be paid by J. Crew Group, Inc. Any proceeds received by J. Crew Group, Inc. in connection with any
Incentive Award will be used for general corporate purposes. 
  

 E-16 

	18.	Definition of Change in Control 

As used in any instrument governing the terms of any Incentive Award, the term “Change in Control” means the occurrence of any
of the following: 
 (i) Any Person becoming the beneficial owner (within the meaning of Rule 13d-3 promulgated
under the Exchange Act, a “Beneficial Owner”) of thirty-five percent or more of the combined voting power of Voting Securities; provided, however, that a Change in Control shall not be deemed to occur by reason of an
acquisition of Voting Securities by the Company or by an employee benefit plan (or a trust forming apart thereof) maintained by the Company; and provided, further, that a Change in Control shall not be deemed to occur solely because
any Person becomes the Beneficial Owner of thirty-five percent or more of the outstanding Voting Securities as a result of the acquisition of Voting Securities by the Company which, by reducing the number of Voting Securities deemed to be
outstanding, increases the proportional number of shares Beneficially Owned by such Person, except that a Change in Control shall occur if a Change in Control would have occurred (but for the operation of this proviso) as a result of the acquisition
of Voting Securities by the Company, and after such acquisition such Person becomes the Beneficial Owner of any additional Voting Securities following which such Person is the Beneficially Owner of thirty-five percent or more of the outstanding
Voting Securities; 
 (ii) During any period of two consecutive years, individuals who at the beginning of such
period constitute the members of the Board of Directors (the “Incumbent Board”), cease for any reason to constitute at least a majority of the members of the Board of Directors then in office; provided, however, that
if the election or appointment, or nomination for election by J. Crew Group, Inc.’s common stockholders, of any new director was approved by a vote of at least two-thirds of the Incumbent Board, such new director shall, for purposes of the
Plan, thereafter be considered as a member of the Incumbent Board; provided, further, however, that no individual shall be considered a member of the Incumbent Board if such individual initially assumed office as a result of an actual
or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Proxy Contest; or 

(iii) The consummation of: 

(A) A merger, consolidation, reorganization or similar transaction (any of the foregoing, a “Business
Combination”)with or into J. Crew Group, Inc. or in which securities of J. Crew Group, Inc. are issued, unless such Business Combination is a Non-Control Transaction; 

(B) A complete liquidation or dissolution of J. Crew Group, Inc.; or 

(C) The sale or other disposition of all or substantially all of the assets of J. Crew Group, Inc. (on a consolidated
basis) to any Person other than the Company or an employee benefit plan (or a trust forming a part thereof) maintained by the Company or by a Person which, immediately thereafter, will have all its voting securities owned by the holders of the
Voting Securities immediately prior thereto, in substantially the same proportions. 
 For purposes of the Plan, a
“Non-Control Transaction” is a Business Combination involving J. Crew Group, Inc. where: 
 (A) the
holders of Voting Securities immediately before such Business Combination own, directly or indirectly, immediately following such Business Combination more than fifty percent of the combined voting power of the outstanding voting securities of the
parent corporation resulting from, or issuing its voting securities as part of, such Business Combination (the “Surviving Corporation”) in substantially the same proportion as their ownership of the Voting Securities immediately
before such Business Combination by reason of their prior ownership of Voting Securities; 
  

 E-17 

 (B) the individuals who were members of the Incumbent Board immediately
prior to the execution of the agreement providing for such Business Combination constitute a majority of the members of the board of directors of the Surviving Corporation, or a corporation beneficially owning a majority of the voting securities of
the Surviving Corporation; and 
 (C) no Person other than the Company or any employee benefit plan (or any trust
forming a part thereof) maintained immediately prior to such Business Combination by the Company, is a Beneficial Owner of twenty-five percent or more of the combined voting power of the Surviving Corporation’s voting securities outstanding
immediately following such Business Combination. 
 Notwithstanding the foregoing, a Change in Control shall not be deemed to
occur as a result of any event or transaction to the extent that treating such event or transaction as a Change in Control would cause any tax to become due under Section 409A of the Code. 

 

	19.	No Fractional Shares 

No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan or any Incentive Award. The Committee shall
determine whether cash, Incentive Awards, or other property shall be issued or paid in lieu of fractional shares of Common Stock or whether such fractional shares of Common Stock or any rights thereto shall be forfeited or otherwise eliminated.

  

	20.	Retirement and Welfare Plans 

Neither Incentive Awards made under the Plan nor shares of Common Stock or cash paid pursuant to such Incentive Awards will be included as
“compensation” for purposes of computing the benefits payable to any Participant under the Company’s retirement plans (both qualified and non-qualified) or welfare benefit plans unless such other plan expressly provides that such
compensation shall be taken into account in computing a participant’s benefit or except as the Committee may otherwise determine in its discretion. 
  

	21.	Compliance with Code Section 162(m) 

It is the intent of the Company that Options and stock appreciation rights granted to Covered Employees and other Incentive Awards
designated as Incentive Awards to Covered Employees subject to Section 8 shall constitute qualified “performance-based compensation” within the meaning of Code Section 162(m) and regulations thereunder, unless otherwise
determined by the Committee at the time of allocation of an Incentive Award. Accordingly, the terms of Section 8, including the definitions of Covered Employee and other terms used therein, shall be interpreted in a manner consistent with Code
Section 162(m) and regulations thereunder. The foregoing notwithstanding, because the Committee cannot determine with certainty whether a given Participant will be a Covered Employee with respect to a fiscal year that has not yet been
completed, the term Covered Employee as used herein shall mean only a person designated by the Committee as likely to be a Covered Employee with respect to a specified fiscal year. If any provision of the Plan or any Incentive Award document
relating to an Incentive Award that is designated as intended to comply with Code Section 162(m) does not comply or is inconsistent with the requirements of Code Section 162(m) or regulations thereunder, such provision shall be construed
or deemed amended to the extent necessary to conform to such requirements, and no provision shall be deemed to confer upon the Committee or any other person discretion to increase the amount of compensation otherwise payable in connection with any
such Incentive Award upon attainment of the applicable performance goals. 
  

	22.	Certain Limitations on Awards to Ensure Compliance with Code Section 409A 

The Company intends that the Plan and each Incentive Award granted hereunder shall comply with Section 409A of the Code and any
regulations thereunder and that the Plan shall be interpreted, operated and administered accordingly. In the event any term and/or condition of an Incentive Award granted hereunder would cause the application of an accelerated or additional tax
under Section 409A of the Code, such term and/or condition shall be restructured, to the extent possible, in a manner, determined by the Committee, that does not cause such an accelerated or additional tax. Any reservation of rights by the
Company hereunder affecting the timing of payment 
  

 E-18 

 
of any Incentive Award subject to Section 409A of the Code (including, without limitation, the rights of the Committee pursuant to Section 9(d)) will only be as broad as is permitted by
Section 409A of the Code and any regulations thereunder. 
  

	23.	Certain Limitations Relating to Accounting Treatment of Incentive Awards 

Other provisions of the Plan notwithstanding, the Committee’s authority under the Plan (including under Section 4 is limited to
the extent necessary to ensure that any Option or other Incentive Award of a type that the Committee has intended to be subject to fixed accounting with a measurement date at the date of grant or the date performance conditions are satisfied under
APB 25 shall not become subject to “variable” accounting solely due to the existence of such authority, unless the Committee specifically determines that the Incentive Award shall remain outstanding despite such “variable”
accounting. 
  

	24.	Uncertificated Shares 

To the extent that the Plan provides for issuance of certificates to reflect the transfer of shares of Common Stock, the transfer of such
shares may be effected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange. 
  

	25.	Participants Based Outside of the United States 

Notwithstanding any provision of the Plan to the contrary, in order to comply with the laws in other countries in which the Company
operates or has associates, Directors or independent contractors, the Committee, in its sole discretion, shall have the power and authority to: 

(a) Determine which affiliates and Subsidiaries shall be covered by the Plan; 

(b) Determine which associates, Directors, and/or independent contractors outside the United States are eligible to participate in the
Plan; 
 (c) Modify the terms and conditions of any Incentive Award granted to associates, Directors, and/or independent
contractors outside the United States to comply with applicable foreign laws; 
 (d) Establish subplans and modify exercise
procedures and other terms and procedures, to the extent such actions may be necessary or advisable. Any subplans and modifications to Plan terms and procedures established under this Section 25 by the Committee shall be attached to the Plan
document as appendices; and 
 (e) Take any action, before or after an Incentive Award is made, that it deems advisable to
obtain approval or comply with any necessary local government regulatory exemptions or approvals. 
 Notwithstanding the above,
the Committee may not take any actions hereunder, and no Incentive Awards shall be granted, that would violate applicable law. 
  

	26.	Legend 

 The
certificates or book entry for shares of Common Stock may include any legend or coding, as applicable, which the Committee deems appropriate to reflect any restrictions on transfer of such shares. 

 

	27.	Severability; Entire Agreement 

If any of the provisions of the Plan or any Incentive Award document is finally held to be invalid, illegal, or unenforceable (whether in
whole or in part), such provision shall be deemed modified to the extent, but only to the extent, of such invalidity, illegality, or unenforceability, and the remaining provisions shall not be affected thereby; provided, that, if any of such
provisions is finally held to be invalid, illegal, or unenforceable because it exceeds the maximum scope determined to be acceptable to permit such provision to be enforceable, such provision shall be deemed to be modified to the minimum extent
necessary to modify such scope in order to make such provision 
  

 E-19 

 
enforceable hereunder. The Plan and any agreements or documents designated by the Committee as setting forth the terms of an Incentive Award contain the entire agreement of the parties with
respect to the subject matter thereof and supersede all prior agreements, promises, covenants, arrangements, communications, representations, and warranties between them, whether written or oral, with respect to the subject matter thereof.

  

	28.	Descriptive Headings 

The headings in the Plan are for convenience of reference only and shall not limit or otherwise affect the meaning of the terms contained
herein. 
  

	29.	Governing Law 

 The
Plan and the rights of all persons under the Plan shall be construed and administered in accordance with the laws of the State of New York without regard to its conflict of law principles. 

 

	30.	Effective Date and Term of Plan 

The Plan was initially adopted as of April 9, 2008, approved by the stockholders of J. Crew Group, Inc. on June 5, 2008, was
amended and restated effective as of September 10, 2008, was amended and restated effective as of April 16, 2010 and approved by the stockholders of J.Crew Group, Inc. on June 8, 2010. No grants of Incentive Awards may be made under
the Plan after April 9, 2018. 
  

 E-20Amended and Restated 2006 Incentive Plan

 Exhibit 10.1 

VONAGE HOLDINGS CORP. 

2006 INCENTIVE PLAN 

Amended and Restated as of June 3, 2010 
  

	1.	Purposes of the Plan 

 The
purposes of the Plan are to (a) promote the long-term success of the Company and its Subsidiaries and to increase stockholder value by providing Eligible Persons with incentives to contribute to the long-term growth and profitability of the
Company by offering them an opportunity to obtain a proprietary interest in the Company through the grant of equity-based and other incentive awards and (b) assist the Company in attracting, retaining and motivating highly qualified individuals
who are in a position to make significant contributions to the Company and its Subsidiaries. 
  

	2.	Definitions and Rules of Construction 

(a) Definitions 

For purposes of the Plan, the following capitalized words shall have the meanings set forth below: 

“Affiliate” means any Parent or Subsidiary. 

“Annual Award” means an Award granted pursuant to Section 11 of the Plan. 

“Award” means an Option, Restricted Stock, Restricted Stock Unit, Stock Appreciation Right,
Performance Stock, Performance Unit, Annual Award or Other Award granted by the Committee pursuant to the terms of the Plan. 

“Award Document” means an agreement, certificate or other type or form of document or
documentation approved by the Committee that sets forth the terms and conditions of an Award. An Award Document may be in written, electronic or other media, may be limited to a notation on the books and records of the Company and, unless the
Committee requires otherwise, need not be signed by a representative of the Company or a Participant. 

“Beneficial Owner” has the meaning set forth in Rule 13d-3 under the Exchange Act. 

“Board” means the Board of Directors of the Company, as constituted from time to time. 

 “Change of Control” means: 

(i) Any Person becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 30 percent
or more of the combined voting power of the Company’s then outstanding securities; or 
 (ii) The following
individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on the Effective Date, constitute the Board and any new director (other than a director whose initial assumption of office is in
connection with an actual or threatened election contest, including, but not limited to, a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the
Company’s stockholders was approved or recommended by a vote of at least a majority of the directors then still in office who either were directors on the Effective Date or whose appointment, election or nomination for election was previously
so approved or recommended; or 
 (iii) There is consummated a merger or consolidation of the Company or any
Subsidiary with any other corporation, other than (A) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof), in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit plan of the Company
or any Subsidiary of the Company, more than 50 percent of the combined voting power of the securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (B) a merger or
consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 30 percent or more of the
combined voting power of the Company’s then outstanding securities; or 
 (iv) The stockholders of the
Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the sale or disposition by the company of all or substantially all of the Company’s assets, other than a sale or disposition
by the Company of all or substantially all of the Company’s assets to an entity, more than 50 percent of the combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same proportions
as their ownership of the Company immediately prior to such sale. 
 Notwithstanding the foregoing, to the extent that any Award
the payment or settlement of which will accelerate upon a Change of Control provides for a “deferral of compensation” within the meaning of Section 409A of the Code, no event set forth herein shall constitute a Change of Control for
purposes of the Plan or any Award Document unless such event also constitutes a “change in ownership,” “change in effective control,” or “change in the ownership of a substantial portion of the Company’s assets”
within the meaning of Section 409A of the Code. 
  

 2 

 “Code” means the Internal Revenue Code of 1986, as
amended, and the applicable rulings and regulations promulgated thereunder. 

“Committee” means the Compensation Committee of the Board, any successor committee thereto or any
other committee appointed from time to time by the Board to administer the Plan, which committee shall meet the requirements of Section 162(m) of the Code, Section 16(b) of the Exchange Act and the applicable rules of the Exchange;
provided, however, that, if any Committee member is found not to have met the qualification requirements of Section 162(m) of the Code and Section 16(b) of the Exchange Act, any actions taken or Awards granted by the
Committee shall not be invalidated by such failure to so qualify. 
 “Common Stock” means
the common stock of the Company or such other class of share or other securities as may be applicable under Section 14 of the Plan. 

“Company” means Vonage Holdings Corp., a Delaware corporation, or any successor to all or
substantially all of the Company’s business that adopts the Plan. 
 “Effective
Date” means the effective date of the initial public offering of the Company. 

“Eligible Persons” means the individuals or entities described in Section 4(a) of the Plan
who are eligible for Awards under the Plan. 
 “Exchange” means the New York Stock
Exchange or such other securities exchange or quotation system on which the Company may be listed from time to time. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder. 
 “Fair Market Value” means, with respect to a share
of Common Stock, the fair market value thereof as of the relevant date of determination, as determined in accordance with the valuation methodology approved by the Committee. In the absence of any alternative valuation methodology approved by the
Committee, the Fair Market Value of a share of Common Stock shall equal the closing selling price of a share of Common Stock on the trading day for which such valuation is made as reported on the Exchange or such other securities exchange or
quotation system as may be designated by the Committee. For any date that is not a trading day, the Fair Market Value of a share of Common Stock for such date will be determined by using the closing sale price for the immediately preceding trading
day and with the timing above adjusted accordingly. 
 “Incentive Stock Option” means an
Option that is intended to comply with the requirements of Section 422 of the Code or any successor provision thereto. 
  

 3 

 “Non-Employee Director” means any member of the
Board who is not an officer or employee of the Company or any Subsidiary. 
 “Nonqualified Stock
Option” means an Option that is not intended to comply with the requirements of Section 422 of the Code or any successor provision thereto. 

“Option” means an Incentive Stock Option or Nonqualified Stock Option granted pursuant to
Section 7 of the Plan. 
 “Other Award” means any form of Award other than an
Option, Restricted Stock, Restricted Stock Unit, Stock Appreciation Right, Performance Stock, Performance Unit or Annual Award granted pursuant to Section 12 of the Plan. 

“Parent” means a corporation that owns or beneficially owns a majority of the outstanding voting
stock or voting power of the Company. Notwithstanding the above, with respect to an Incentive Stock Option, Parent shall have the meaning set forth in Section 424(e) of the Code. 

“Participant” means an Eligible Person who has been granted an Award under the Plan. 

“Performance Goal” means the performance measures established by the Committee, from among the
performance criteria provided in Section 6(h) of the Plan, and set forth in the applicable Award Document. 

“Performance Period” means the period established by the Committee and set forth in the applicable
Award Document over which Performance Goals are measured. 
 “Performance Stock” means a
Target Number of Shares granted pursuant to Section 10(a) of the Plan. 
 “Performance
Unit” means a right to receive a Target Number of Shares or cash in the future granted pursuant to Section 10(b) of the Plan. 

“Permitted Transferees” means any immediate family member, family trust or other entity
established for the benefit of the Participant and/or an immediate family member thereof if, with respect to such proposed transferee, the Company would be eligible to use a Form S-8 for the registration of the sale of the Common Stock subject to
such Award under the Securities Act. 
 “Person” means any person, entity or
“group” within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, except that such term shall not include (i) the Company or any of its Subsidiaries, (ii) a trustee or other fiduciary holding
securities under an employee benefit plan of the Company or any of its Affiliates, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities, (iv) a corporation owned, directly or indirectly, by the
stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, or (v) a person or group as used in Rule 13d-1(b) under the Exchange Act. 

 

 4 

 “Plan” means this Vonage Holdings Corp. 2006
Incentive Plan, as amended or restated from time to time. 
 “Plan Limit” means the
maximum aggregate number of Shares that may be issued for all purposes under the Plan as set forth in Section 5(a) of the Plan. 

“Plan Year” means the fiscal year of the Company or, if different, the calendar year, as
determined by the Committee. 
 “Prior Plan” means the 2001 Stock Incentive Plan of
Vonage Holdings Corp. 
 “Restricted Stock” means one or more Shares granted or sold
pursuant to Section 9(a) of the Plan. 
 “Retirement Plan” means the Vonage 401(k)
Retirement Plan or any successor thereto. 
 “Restricted Stock Unit” means a right to
receive one or more Shares (or cash, if applicable) in the future granted pursuant to Section 9(b) of the Plan. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder. 
 “Shares” means shares of Common Stock, as may be adjusted
pursuant to Section 14 of the Plan. 
 “Stock Appreciation Right” means a right to
receive all or some portion of the appreciation on Shares granted pursuant to Section 8 of the Plan. 

“Subsidiary” means a business venture (including, without limitation, joint venture or limited
liability company) in which the Company has a controlling interest, as determined by the Board. Notwithstanding the above, with respect to an Incentive Stock Option, “Subsidiary” shall have the meaning set forth in Section 424(f) of
the Code. 
 “Substitute Award” means any Award granted upon assumption of, or in
substitution or exchange for, outstanding employee equity awards previously granted by a company or other entity acquired by the Company or with which the Company combines pursuant to the terms of an equity compensation plan that was approved by the
stockholders of such company or other entity. 
 “Target Number” or “Target
Payment” means the target number of Shares or cash value established by the Committee and set forth in the applicable Award Document. 
  

 5 

 (b) Rules of Construction 

The masculine pronoun shall be deemed to include the feminine pronoun, and the singular form of a word shall be deemed to include the
plural form, unless the context requires otherwise. Unless the text indicates otherwise, references to sections are to sections of the Plan. 
  

	3.	Administration 

 (a)
Committee 
 The Plan shall be administered by the Committee, which shall have full power and authority, subject to the
express provisions hereof, to: 
 (i) select the Participants from the Eligible Persons; 

(ii) grant Awards in accordance with the Plan; 

(iii) determine the number of Shares subject to each Award or the cash amount payable in connection with an Award;

 (iv) determine the terms and conditions of each Award, including, without limitation, those related to term,
permissible methods of exercise, vesting, cancellation, payment, settlement, exercisability, Performance Periods, Performance Goals, and the effect, if any, of a Participant’s termination of employment with the Company or any of its
Subsidiaries or, subject to Section 6(d), a Change of Control of the Company; 
 (v) subject to Sections 17
and 18(e), amend the terms and conditions of an Award after the granting thereof; 
 (vi) specify and approve the
provisions of the Award Documents delivered to Participants in connection with their Awards; 
 (vii) construe
and interpret any Award Document delivered under the Plan; 
 (viii) make factual determinations in connection
with the administration or interpretation of the Plan; 
 (ix) adopt, prescribe, amend, waive and rescind
administrative regulations, rules and procedures relating to the Plan; 
 (x) employ such legal counsel,
independent auditors and consultants as it deems desirable for the administration of the Plan and to rely upon any advice, opinion or computation received therefrom; 

(xi) vary the terms of Awards to take account of tax and securities law and other regulatory requirements or to procure
favorable tax treatment for Participants; 
 (xii) correct any defects, supply any omission or reconcile any
inconsistency in any Award Document or the Plan; and 
  

 6 

 (xiii) make all other determinations and take any other action desirable or
necessary to interpret, construe or implement properly the provisions of the Plan or any Award Document. 
 (b) Plan
Construction and Interpretation 
 The Committee shall have full power and authority, subject to the express provisions
hereof, to construe and interpret the Plan. 
 (c) Determinations of Committee Final and Binding 

All determinations by the Committee in carrying out and administering the Plan and in construing and interpreting the Plan shall be made
in the Committee’s sole discretion and shall be final, binding and conclusive for all purposes and upon all persons interested herein. 

(d) Delegation of Authority 

To the extent permitted by applicable law, the Board or the Committee may delegate to a subcommittee or subcommittees of the Committee or
to one or more officers of the Company the power to grant Options and other Awards that constitute rights under Delaware law (subject to any limitations under the Plan) to employees or officers of the Company or any of its present or future
Affiliates and to exercise such other powers under the Plan as the Board or the Committee may determine, provided that the Board or the Committee shall fix the terms of the Awards to be granted by such officers (including the exercise price of the
Awards, which may include a formula by which the exercise price will be determined) and the maximum number of shares subject to such Awards that the officers may grant; provided further, however, that no officer shall be authorized to grant Awards
to any “executive officer” of the Company (as defined by Rule 3b-7 under the Exchange Act) or to any “officer” of the Company (as defined by Rule 16a-1 under the Exchange Act), nor shall such delegation apply to Section 17
of the Plan. The Board may not delegate authority under this Section 3(d) to grant restricted stock, unless Delaware law then permits such delegation. For purposes of the Plan, reference to the Committee shall be deemed to refer to any
subcommittee, subcommittees, or other persons or groups of persons to whom the Board or the Committee delegates authority pursuant to this Section 3(d). 

(e) Liability of Committee 

Subject to applicable laws, rules and regulations: (i) no member of the Board or Committee (or its delegates) shall be liable for
any good faith action or determination made in connection with the operation, administration or interpretation of the Plan and (ii) the members of the Board or the Committee (and its delegates) shall be entitled to indemnification and
reimbursement in the manner provided in the Company’s Certificate of Incorporation as it may be amended from time to time. In the performance of its responsibilities with respect to the Plan, the Committee shall be entitled to rely upon
information and/or advice furnished by the Company’s officers or employees, the Company’s accountants, the Company’s counsel and any other party the Committee deems necessary, and no member of the Committee shall be liable for any
action taken or not taken in reliance upon any such information and/or advice. 
  

 7 

 (f) Action by the Board 

Anything in the Plan to the contrary notwithstanding, subject to applicable laws, rules and regulations, any authority or responsibility
that, under the terms of the Plan, may be exercised by the Committee may alternatively be exercised by the Board. 
  

	4.	Eligibility 

 (a)
Eligible Persons 
 Awards may be granted to officers, employees, directors, Non-Employee Directors, consultants,
advisors and independent contractors of the Company or any of its Subsidiaries or joint ventures, partnerships or business organizations in which the Company or its Subsidiaries have an equity interest; provided, however, that only
employees of the Company or a Parent or Subsidiary may be granted Incentive Stock Options. The Committee shall have the authority to select the persons to whom Awards may be granted and to determine the type, number and terms of Awards to be granted
to each such Participant. Under the Plan, references to “employment” or “employed” include the engagement of Participants who are consultants, advisors and independent contractors of the Company or its Subsidiaries and the
service of Participants who are Non-Employee Directors, except for purposes of determining eligibility to be granted Incentive Stock Options. 

(b) Grants to Participants 

The Committee shall have no obligation to grant any Eligible Person an Award or to designate an Eligible Person as a Participant solely
by reason of such Eligible Person having received a prior Award or having been previously designated as a Participant. The Committee may grant more than one Award to a Participant and may designate an Eligible Person as a Participant for overlapping
periods of time. 
  

	5.	Shares Subject to the Plan 

(a) Plan Limit. Subject to adjustment as provided in Section 14 hereof, the maximum number of Shares available for issuance to
Participants pursuant to Awards under the Plan shall be 66,400,000 Shares (the “Plan Limit”). The Shares available for issuance under the Plan may consist, in whole or in part, of authorized and unissued Shares or treasury
Shares. 
 (b) Rules Applicable to Determining Shares Available for Issuance 

The number of Shares remaining available for issuance will be reduced by the number of Shares subject to outstanding Awards and, for
Awards that are not denominated by Shares, by the number of Shares actually delivered upon settlement or payment of the Award. For purposes of determining the number of Shares that remain available for issuance under the Plan, (i) the number of
Shares that are tendered by a Participant or withheld by the Company to pay the exercise price of an Award or to satisfy the Participant’s tax withholding obligations in connection with the exercise or settlement of an Award and (ii) all
of the Shares covered by a stock-settled Stock Appreciation Right, to the extent exercised, will not be added back to the Plan Limit. In addition, for purposes of determining the number of Shares that remain available

  

 8 

 
for issuance under the Plan, the number of Shares corresponding to Awards under the Plan that are forfeited or cancelled or otherwise expire for any reason without having been exercised or
settled or that is settled through issuance of consideration other than Shares (including, without limitation, cash) shall be added back to the Plan Limit and again be available for the grant of Awards; provided, however, that this
provision shall not be applicable with respect to (i) the cancellation of a Stock Appreciation Right granted in tandem with an Option upon the exercise of the Option or (ii) the cancellation of an Option granted in tandem with a Stock
Appreciation Right upon the exercise of the Stock Appreciation. 
 (c) Special Limits 

Anything to the contrary in Section 5(a) notwithstanding, but subject to adjustment under Section 14, the following special
limits shall apply to Shares available for Awards under the Plan: 
 (i) the maximum number of Shares that may be
issued pursuant to awards of Incentive Stock Options shall equal 20,000,000 Shares subject to Section 14 hereof and the provisions of Sections 422 or 424 of the Code and any successor provisions; 

(ii) the maximum number of Shares that may be issued pursuant to Options and Stock Appreciation Rights granted to any
Eligible Person in any calendar year shall equal 10,000,000 Shares; 
 (iii) the maximum amount that may be paid
pursuant to Annual Awards granted to any Eligible Person in any calendar year is $5,000,000; and 
 (iv) the
maximum amount that may be paid and the maximum number of Shares that may be issued pursuant to Awards (other than those Awards set forth in Section 5(c)(ii) and 5(c)(iii)) that may be awarded to any Eligible Person in any calendar year is
$10,000,000 (with respect to Awards denominated in cash) or 10,000,000 Shares (with respect to Awards denominated in Shares). 

(d) Any Shares underlying Substitute Awards shall not be counted against the number of Shares remaining for issuance and shall not be
subject to Section 5(c). 
  

	6.	Awards in General 

 (a)
Types of Awards 
 Awards under the Plan may consist of Options, Restricted Stock, Restricted Stock Units, Stock
Appreciation Rights, Performance Stock, Performance Units, Annual Awards and Other Awards. Any Award described in Sections 7 through 12 may be granted singly or in combination or tandem with any other Award, as the Committee may determine. Awards
under the Plan may be made in combination with, in replacement of, or as alternatives to awards or rights under any other compensation or benefit plan of the Company, including the plan of any acquired entity. 

 

 9 

 (b) Terms Set Forth in Award Document 

The terms and conditions of each Award shall be set forth in an Award Document in a form approved by the Committee for such Award, which
Award Document shall contain terms and conditions not inconsistent with the Plan. Notwithstanding the foregoing, and subject to applicable laws, the Committee may accelerate (i) the vesting or payment of any Award, (ii) the lapse of
restrictions on any Award or (iii) the date on which any Award first becomes exercisable. The terms of Awards may vary among Participants, and the Plan does not impose upon the Committee any requirement to make Awards subject to uniform terms.
Accordingly, the terms of individual Award Documents may vary. 
 (c) Termination of Employment 

The Committee shall specify at or after the time of grant of an Award the provisions governing the disposition of an Award in the event
of a Participant’s termination of employment with the Company or any of its Subsidiaries. Subject to applicable laws, rules and regulations, in connection with a Participant’s termination of employment, the Committee shall have the
discretion to accelerate the vesting, exercisability or settlement of, eliminate the restrictions and conditions applicable to, or extend the post-termination exercise period of an outstanding Award. Such provisions may be specified in the
applicable Award Document or determined at a subsequent time. 
 (d) Change of Control 

(i) The Committee shall have full authority to determine the effect, if any, of a Change of Control of the Company or any Subsidiary on
the vesting, exercisability, settlement, payment or lapse of restrictions applicable to an Award, which effect may be specified in the applicable Award Document or determined at a subsequent time. Subject to applicable laws, rules and regulations,
the Board or the Committee shall, at any time prior to, coincident with or after the effective time of a Change of Control, take such actions as it may consider appropriate, including, without limitation: (A) providing for the acceleration of
any vesting conditions relating to the exercise or settlement of an Award or that an Award shall terminate or expire unless exercised or settled in full on or before a date fixed by the Committee; (B) making such adjustments to the Awards then
outstanding as the Committee deems appropriate to reflect such Change of Control; (C) causing the Awards then outstanding to be assumed, or new rights substituted therefor, by the surviving corporation in such Change of Control; or
(D) permitting or requiring Participants to surrender outstanding Options and Stock Appreciation Rights in exchange for a cash payment equal to the difference between the highest price paid for a Share in the Change of Control transaction and
the Exercise Price of the Award, which may be zero dollars. 
 (ii) Subject to applicable laws, rules and regulations, the
Committee may provide, in an Award Document or subsequent to the grant of an Award, for the accelerated vesting, exercisability and/or the deemed attainment of a Performance Goal with respect to an Award upon specified events similar to a Change of
Control. 
 (iii) Notwithstanding any other provision of the Plan or any Award Document, the provisions of this
Section 6(d) may not be terminated, amended, or modified upon or after a Change of Control in a manner that would adversely affect a Participant’s rights with respect to 

 

 10 

 
an outstanding Award without the prior written consent of the Participant. Subject to Section 17, the Board, upon recommendation of the Committee, may terminate, amend or modify this
Section 6(d) at any time and from time to time prior to a Change of Control. 
 (e) Dividends and Dividend
Equivalents 
 The Committee may provide Participants with the right to receive dividends or payments equivalent to
dividends or interest with respect to an outstanding Award, which payments can either be paid currently or deemed to have been reinvested in Shares, and can be made in Shares, cash or a combination thereof, as the Committee shall determine;
provided, however, that the terms of any reinvestment of dividends must comply with all applicable laws, rules and regulations, including, without limitation, Section 409A of the Code. Notwithstanding the foregoing, no dividends
or dividend equivalents shall be paid with respect to Options or Stock Appreciation Rights. 
 (f) Fractional Shares

 No fractional Shares shall be issued or delivered pursuant to any Award under the Plan. The Committee shall determine whether
cash, Awards, or other property shall be issued or paid in lieu of fractional Shares, or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated. 

(g) Rights of a Stockholder 

A Participant shall have no rights as a stockholder with respect to Shares covered by an Award (including voting rights) until the date
the Participant or his nominee becomes the holder of record of such Shares. No adjustment shall be made for dividends or other rights for which the record date is prior to such date, except as provided in Section 14. 

(h) Performance-Based Awards 

(i) The Committee may determine whether any Award under the Plan is intended to be “performance-based
compensation” as that term is used in Section 162(m) of the Code. Any such Awards designated to be “performance-based compensation” shall be conditioned on the achievement of one or more Performance Goals to the extent required
by Section 162(m) of the Code and will be subject to all other conditions and requirements of Section 162(m). The Performance Goals will be comprised of specified levels of one or more of the following performance measures as the Committee
deems appropriate: net earnings, net income, or adjusted operating profit or loss (each before or after taxes); earnings per share; book value per share; costs; net sales or revenue growth; net operating profit; return measures (including, but not
limited to, return on assets, investment, capital, equity, sales, revenue, telephony services revenue, or adjusted average monthly revenue per line); cash flow (including, but not limited to, operating cash flow, free cash flow, cash flow return on
equity, cash flow return on investment, and pre-marketing operating income per line); adjusted earnings before or after taxes, interest, depreciation, and/or amortization; gross or operating margins; productivity ratios; profitability of an
identifiable business unit or product; share price (including, but 
  

 11 

 
not limited to, growth measures and total shareholder return); expense targets (including, but not limited to, subscriber line acquisition cost and average monthly direct costs of telephony
services per line); margins; operating efficiency (including, without limitation, improvements in capital structure); market share; customer satisfaction (including, but not limited to, new subscriptions, lost subscriptions, and relations between
the two); net subscriber line additions; working capital targets; cash value added; economic value added; market penetration; product introductions; platform availability; staff training; and corporate social responsibility policy implementation, in
each case determined, where applicable, in accordance with generally accepted accounting principles (subject to modifications approved by the Committee) consistently applied on a business unit, divisional, subsidiary or consolidated basis or any
combination thereof. The Performance Goals may be described in terms of objectives that are related to the individual Participant or objectives that are Company-wide or related to a Subsidiary, division, department, region, function or business unit
and may be measured on an absolute or cumulative basis or on the basis of percentage of improvement over time, and may be measured in terms of Company performance (or performance of the applicable Subsidiary, division, department, region, function
or business unit) or measured relative to selected peer companies or a market or other index. Subject to compliance with Section 162(m) of the Code, the Committee may adjust the Performance Goals (including, without limitation, to prorate goals
and payments for a partial Plan Year) in the event of the following occurrences: (i) non-recurring events, including divestitures, spin-offs, or changes in accounting standards or policies, (ii) mergers and acquisitions, and
(iii) financing transactions. In addition, for Awards not intended to qualify as “performance-based compensation” under Section 162(m) of the Code, the Committee may establish Performance Goals based on other criteria as it deems
appropriate. 
 (ii) The Participants will be designated, and the applicable Performance Goals will be
established, by the Committee within 90 days following the commencement of the applicable Performance Period (or such earlier or later date permitted or required by Section 162(m) of the Code). The outcome of the applicable Performance Goals
must be substantially uncertain when the Committee establishes such Performance Goals. Each Participant will be assigned a Target Number or Target Payment payable if Performance Goals are achieved. Any payment of an Award granted with Performance
Goals shall be conditioned on the written certification of the Committee in each case that the Performance Goals and any other material conditions were satisfied. 

(iii) The Committee may determine, at the time of Award grant, that if performance exceeds the specified Performance
Goals, the Award may be settled with payment greater than the Target Number or Target Payment, up to a maximum Award amount set at the time of the Award grant, which maximum Award shall in no event exceed the limits set forth in Section 5(c).
Awards that are designed to constitute “qualified performance-based compensation” under Section 162(m) of the Code may not be adjusted upward. The Committee shall retain the discretion to adjust such Awards downward, either on a
formula or discretionary basis or any combination thereof, as the Committee determines. 
  

 12 

 (i) Deferrals 

In accordance with the procedures authorized by, and subject to the approval of, the Committee, Participants may be given the opportunity
to defer the payment or settlement of an Award to one or more dates selected by the Participant; provided, however, that the terms of any deferrals must comply with all applicable laws, rules and regulations, including, without
limitation, Section 409A of the Code. No deferral opportunity shall exist with respect to an Award unless explicitly permitted by the Committee on or after the time of grant. 

(j) Repricing of Options and Stock Appreciation Rights 

Notwithstanding anything in the Plan to the contrary, an Option or Stock Appreciation Right shall not be granted in substitution for a
previously granted Option or Stock Appreciation Right being canceled or surrendered as a condition of receiving a new Award, if the new Award would have a lower exercise price than the Award it replaces, nor shall the exercise price of an Option or
Stock Appreciation Right be reduced once the Option or Stock Appreciation Right is granted. The foregoing shall not (i) prevent adjustments pursuant to Section 14 or (ii) apply to grants of Substitute Awards. 

 

	7.	Terms and Conditions of Options 

(a) General 

The Committee, in its discretion, may grant Options to Eligible Persons and shall determine whether such Options shall be Incentive Stock
Options or Nonqualified Stock Options. Each Option shall be evidenced by an Award Document that shall expressly identify the Option as an Incentive Stock Option or Nonqualified Stock Option, and be in such form and contain such provisions as the
Committee shall from time to time deem appropriate. 
 (b) Exercise Price 

The exercise price of an Option shall be fixed by the Committee at the time of grant or shall be determined by a method specified by the
Committee at the time of grant. In no event shall the exercise price of an Option be less than 100 percent of the Fair Market Value of a Share on the date of grant; provided, however that the exercise price of a Substitute Award
granted as an Option shall be determined in accordance with Section 409A of the Code and may be less than 100 percent of the Fair Market Value. 

(c) Term 

An Option shall be effective for such term as shall be determined by the Committee and as set forth in the Award Document relating to
such Option, and the Committee may extend the term of an Option after the time of grant; provided, however, that the term of an Option may in no event extend beyond the tenth anniversary of the date of grant of such Option. 

(d) Exercise; Payment of Exercise Price 

Options shall be exercised by delivery of a notice of exercise in a form approved by the Company. Subject to the provisions of the
applicable Award Document, the exercise price of an Option may be paid (i) in cash or cash equivalents, (ii) by actual delivery or 

 

 13 

 
attestation to ownership of freely transferable Shares already owned by the person exercising the Option, (iii) by a combination of cash and Shares equal in value to the exercise price,
(iv) through net share settlement or similar procedure involving the withholding of Shares subject to the Option with a value equal to the exercise price or (v) by such other means as the Committee may authorize. 

(e) Incentive Stock Options 

The exercise price per Share of an Incentive Stock Option shall be fixed by the Committee at the time of grant or shall be determined by
a method specified by the Committee at the time of grant, but in no event shall the exercise price of an Incentive Stock Option be less than 100 percent of the Fair Market Value of a Share on the date of grant. No Incentive Stock Option may be
issued pursuant to the Plan to any individual who, at the time the Incentive Stock Option is granted, owns stock possessing more than ten percent of the total combined voting power of all classes of stock of the Company or any of its Subsidiaries,
unless (i) the exercise price determined as of the date of grant is at least 110 percent of the Fair Market Value on the date of grant of the Shares subject to such Incentive Stock Option and (ii) the Incentive Stock Option is not
exercisable more than five years from the date of grant thereof. No Participant shall be granted any Incentive Stock Option that would result in such Participant receiving a grant of Incentive Stock Options that would have an aggregate Fair Market
Value in excess of $100,000, determined as of the time of grant, and that would be exercisable for the first time by such Participant during any calendar year. No Incentive Stock Option may be granted under the Plan after the tenth anniversary of
the date on which the Plan is adopted by the Board. The terms of any Incentive Stock Option granted under the Plan shall comply in all respects with the provisions of Section 422 of the Code, or any successor provision thereto, as amended from
time to time. Any Option that is intended to qualify as an Incentive Stock Option and fails to do so shall be a Nonqualified Stock Option. 
  

	8.	Terms and Conditions of Stock Appreciation Rights 

(a) General 

The Committee, in its discretion, may grant Stock Appreciation Rights to Eligible Persons. A Stock Appreciation Right shall entitle a
Participant to receive, upon satisfaction of the conditions to payment specified in the applicable Award Document, an amount equal to the excess, if any, of the Fair Market Value on the exercise date of the number of Shares for which the Stock
Appreciation Right is exercised over the grant price for such Stock Appreciation Right specified in the applicable Award Document. The grant price per share of Shares covered by a Stock Appreciation Right shall be fixed by the Committee at the time
of grant or, alternatively, shall be determined by a method specified by the Committee at the time of grant, but in no event shall the grant price of a Stock Appreciation Right be less than 100 percent of the Fair Market Value of a Share on the date
of grant; provided, however, that the grant price of a Substitute Award granted as a Stock Appreciation Rights shall be in accordance with Section 409A of the Code and may be less than 100 percent of the Fair Market Value.
Payments to a Participant upon exercise of a Stock Appreciation Right may be made in cash or Shares, having an aggregate Fair Market Value as of the date of exercise equal to the excess, if any, of the Fair Market Value on the exercise date of the
number of Shares for which the Stock Appreciation Right is exercised over the grant price for such Stock Appreciation Right. The term of a Stock Appreciation Right settled in Shares shall not exceed ten years. 

 

 14 

 (b) Stock Appreciation Rights in Tandem with Options 

A Stock Appreciation Right granted in tandem with an Option may be granted either at the same time as such Option or subsequent thereto.
If granted in tandem with an Option, a Stock Appreciation Right shall cover the same number of Shares as covered by the Option (or such lesser number of shares as the Committee may determine) and shall be exercisable only at such time or times and
to the extent the related Option shall be exercisable, and shall have the same term as the related Option. The grant price of a Stock Appreciation Right granted in tandem with an Option shall equal the per-share exercise price of the Option to which
it relates. Upon exercise of a Stock Appreciation Right granted in tandem with an Option, the related Option shall be canceled automatically to the extent of the number of Shares covered by such exercise; conversely, if the related Option is
exercised as to some or all of the shares covered by the tandem grant, the tandem Stock Appreciation Right shall be canceled automatically to the extent of the number of Shares covered by the Option exercise. 

 

	9.	Terms and Conditions of Restricted Stock and Restricted Stock Units 

(a) Restricted Stock 

The Committee, in its discretion, may grant or sell Restricted Stock to Eligible Persons. An Award of Restricted Stock shall consist of
one or more Shares granted or sold to an Eligible Person, and shall be subject to the terms, conditions and restrictions set forth in the Plan and established by the Committee in connection with the Award and specified in the applicable Award
Document. Restricted Stock may, among other things, be subject to restrictions on transferability, vesting requirements or other specified circumstances under which it may be canceled. 

(b) Restricted Stock Units 

The Committee, in its discretion, may grant Restricted Stock Units to Eligible Persons. A Restricted Stock Unit shall entitle a
Participant to receive, subject to the terms, conditions and restrictions set forth in the Plan and the applicable Award Document, one or more Shares or, at the sole discretion of the Committee, cash, or a combination of cash and Shares, with a
value equal to the Fair Market Value of the Shares at the time of payment. Restricted Stock Units may, among other things, be subject to restrictions on transferability, vesting requirements or other specified circumstances under which they may be
canceled or settled. If and when the cancellation provisions lapse, the Restricted Stock Units shall become Shares owned by the applicable Participant. 
  

	10.	Terms and Conditions of Performance Stock and Performance Units 

(a) Performance Stock 

The Committee may grant Performance Stock to Eligible Persons. An Award of Performance Stock shall consist of a Target Number of Shares
granted to an Eligible Person 
  

 15 

 
subject to achievement of Performance Goals over the applicable Performance Period, and shall be subject to the terms, conditions and restrictions set forth in the Plan and established by the
Committee in connection with the Award and specified in the applicable Award Document. 
 (b) Performance Units

 The Committee, in its discretion, may grant Performance Units to Eligible Persons. A Performance Unit shall entitle a
Participant to receive, subject to the terms, conditions and restrictions set forth in the Plan and established by the Committee in connection with the Award and specified in the applicable Award Document, a number of Shares or cash based on the
Target Number or Target Payment, but which may vary above or below the Target Number or Target Payment (subject, in the case of Awards intended to constitute “qualified performance-based compensation,” to Section 6(h)(iii)), and the
level of achievement of the Performance Goals under the Award over the applicable Performance Period. At the sole discretion of the Committee, Performance Units shall be settled through the delivery of Shares or cash, or a combination of Shares and
cash, with a value equal to the Fair Market Value of the underlying Shares as of the date of such delivery (or, if the Committee so determines, as of the preceding trading date). 

 

	11.	Terms and Conditions of Annual Awards 

The Committee, in its discretion, may grant Annual Awards to Eligible Persons with respect to a Plan Year. An Annual Award shall entitle a
Participant to receive, subject to the terms, conditions and restrictions set forth in the Plan and established by the Committee in connection with the Award and specified in the applicable Award Document, payment of an amount based on the Target
Payment, but which may vary above or below the Target Payment (subject, in the case of Awards intended to constitute “qualified performance-based compensation,” to Section 6(h)(iii)), and the level of achievement of the Performance
Goals under the Award over the applicable Plan Year. At the sole discretion of the Committee, Annual Awards shall be settled through the delivery of cash or Shares, or a combination of cash and Shares, with the value of any Shares deemed to be equal
to their Fair Market Value as of the date of such delivery (or, if the Committee so determines, as of the preceding trading date). 
  

	12.	Other Awards 

 The
Committee shall have the authority to specify the terms and provisions of other forms of equity-based or equity-related Awards not described above that the Committee determines to be consistent with the purpose of the Plan and the interests of the
Company, which Awards may provide for cash payments based in whole or in part on the value or future value of Shares, for the acquisition or future acquisition of Shares, or any combination thereof. 

 

	13.	Certain Restrictions 

 (a)
Transfers 
 No Award shall be transferable other than pursuant to a beneficiary designation under Section 13(c), by
last will and testament or by the laws of descent and distribution or, except in the case of an Incentive Stock Option, pursuant to a domestic relations order, as the 

 

 16 

 
case may be; provided, however, that the Committee may, subject to applicable laws, rules and regulations and such terms and conditions as it shall specify, permit the transfer of
an Award, other than an Incentive Stock Option, for no consideration to a Permitted Transferee. Any Award transferred to a Permitted Transferee shall be further transferable only by last will and testament or the laws of descent and distribution or,
for no consideration, to another Permitted Transferee of the Participant. 
 (b) Award Exercisable Only by Participant

 During the lifetime of a Participant, an Award shall be exercisable only by the Participant or by a Permitted Transferee to
whom such Award has been transferred in accordance with Section 13(a). The grant of an Award shall impose no obligation on a Participant to exercise or settle the Award. 

(c) Beneficiary Designation 

The beneficiary or beneficiaries of the Participant to whom any benefit under the Plan is to be paid in case of his death before he
receives any or all of such benefit shall be determined under the Retirement Plan. In lieu of such determination, a Participant may, from time to time, name any beneficiary or beneficiaries to receive any benefit in case of his death before he
receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant and will be effective only when filed by the Participant in writing (in such form or manner as may be prescribed by the Committee)
with the Company during the Participant’s lifetime. In the absence of a valid designation under the Retirement Plan or as provided above, if no validly designated beneficiary survives the Participant or if each surviving validly designated
beneficiary is legally impaired or prohibited from receiving the benefits under an Award, the Participant’s beneficiary shall be the Participant’s estate. 
  

	14.	Recapitalization or Reorganization 

(a) Authority of the Company and Stockholders 

The existence of the Plan, the Award Documents and the Awards granted hereunder shall not affect or restrict in any way the right or
power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or business, any merger or consolidation of the Company, any issue
of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Shares or the rights thereof or which are convertible into or exchangeable for
Shares, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

(b) Change in Capitalization 

In the event of any corporate event or transaction involving the Company, a Subsidiary and/or an Affiliate (including, but not limited
to, a change in the Shares of the Company or the capitalization of the Company) such as a merger, consolidation, reorganization, 

 

 17 

 
recapitalization, separation, stock dividend, stock split, reverse stock split, split up, spin-off, combination of Shares, exchange of Shares, dividend in kind, or other like change in capital
structure (other than ordinary cash dividends to shareholders of the Company), or any similar corporate event or transaction, the Committee, to prevent dilution or enlargement of Participants’ rights under the Plan, shall substitute or adjust,
in its sole discretion, the number and kind of Shares or other property that may be issued under the Plan or under particular forms of Awards, the number and kind of Shares or other property subject to outstanding Awards, the option exercise price,
grant price or purchase price applicable to outstanding Awards, the special limits or sub-limits provided for in Section 5(c), and/or other value determinations applicable to the Plan or outstanding Awards. 

 

	15.	Term of the Plan 

 Unless
earlier terminated pursuant to Section 17, the Plan shall terminate on the tenth anniversary of the Effective Date, except with respect to Awards then outstanding. No Awards may be granted under the Plan after the tenth anniversary of the
Effective Date. 
  

	16.	Effective Date 

 The Plan
shall become effective on the Effective Date, subject to approval by the stockholders of the Company prior thereto. 
  

	17.	Amendment and Termination 

Subject to applicable laws, rules and regulations, the Board may at any time terminate or, from time to time, amend, modify or suspend the
Plan; provided, however, that no termination, amendment, modification or suspension (i) will be effective without the approval of the stockholders of the Company if such approval is required under applicable laws, rules and
regulations, including the rules of the Exchange and (ii) shall materially and adversely alter or impair the rights of a Participant in any Award previously made under the Plan without the consent of the holder thereof. Notwithstanding the
foregoing, the Board shall have broad authority to amend the Plan or any Award under the Plan without the consent of a Participant to the extent it deems necessary or desirable (a) to comply with, take into account changes in, or
interpretations of, applicable tax laws, securities laws, employment laws, accounting rules and other applicable laws, rules and regulations, (b) to take into account unusual or nonrecurring events or market conditions (including, without
limitation, the events described in Section 14), or (c) to take into account significant acquisitions or dispositions of assets or other property by the Company. 

 

	18.	Miscellaneous 

 (a) Tax
Withholding 
 The Company or a Subsidiary, as appropriate, may require any individual entitled to receive a payment of an
Award to remit to the Company, prior to payment, an amount sufficient to satisfy any applicable tax withholding requirements, except to the extent such requirement would cause a failure to comply with Section 409A of the Code. In the case of an
Award payable in Shares, the Company or a Subsidiary, as appropriate, may permit or require a 
  

 18 

 
Participant to satisfy, in whole or in part, such obligation to remit taxes by directing the Company to withhold shares that would otherwise be received by such individual or to repurchase shares
that were issued to the Participant to satisfy the minimum statutory withholding rates for any applicable tax withholding purposes, in accordance with all applicable laws and pursuant to such rules as the Committee may establish from time to time.
The Company or a Subsidiary, as appropriate, shall also have the right to deduct from all cash payments made to a Participant (whether or not such payment is made in connection with an Award) any applicable taxes required to be withheld with respect
to such payments. 
 (b) No Right to Awards or Employment 

No person shall have any claim or right to receive Awards under the Plan. Neither the Plan, the grant of Awards under the Plan nor any
action taken or omitted to be taken under the Plan shall be deemed to create or confer on any Eligible Person any right to be retained in the employ of the Company or any Subsidiary or other Affiliate thereof, or to interfere with or to limit in any
way the right of the Company or any Subsidiary or other Affiliate thereof to terminate the employment of such Eligible Person at any time. No Award shall constitute salary, recurrent compensation or contractual compensation for the year of grant,
any later year or any other period of time. Payments received by a Participant under any Award made pursuant to the Plan shall not be included in, nor have any effect on, the determination of employment-related rights or benefits under any other
employee benefit plan or similar arrangement provided by the Company and the Subsidiaries, unless otherwise specifically provided for under the terms of such plan or arrangement or by the Committee. 

(c) Securities Law Restrictions 

An Award may not be exercised or settled, and no Shares may be issued in connection with an Award, unless the issuance of such shares
(i) has been registered under the Securities Act, (ii) has qualified under applicable state “blue sky” laws (or the Company has determined that an exemption from registration and from qualification under such state “blue
sky” laws is available) and (iii) complies with all applicable foreign securities laws. The Committee may require each Participant purchasing or acquiring Shares pursuant to an Award under the Plan to represent to and agree with the
Company in writing that such Eligible Person is acquiring the Shares for investment purposes and not with a view to the distribution thereof. All certificates for Shares delivered under the Plan shall be subject to such stock-transfer orders and
other restrictions as the Committee may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission and the Exchange, and any applicable securities law, and the Committee may cause a legend or
legends to be put on any such certificates to make appropriate reference to such restrictions. 
 (d) Section 162(m) of
the Code 
 The Plan is intended to comply in all respects with Section 162(m) of the Code; provided,
however, that in the event the Committee determines that compliance with Section 162(m) of the Code is not desired with respect to a particular Award, compliance with Section 162(m) of the Code will not be required. In addition, if
any provision of this Plan would cause Awards that are intended to constitute “qualified performance-based compensation” under 

 

 19 

 
Section 162(m) of the Code, to fail to so qualify, that provision shall be severed from, and shall be deemed not to be a part of, the Plan, but the other provisions hereof shall remain in
full force and effect. 
 (e) Section 409A of the Code 

(i) The Company intends that any Awards be structured in compliance with, or to satisfy an exemption from,
Section 409A of the Code and all regulations, guidance, compliance programs and other interpretative authority thereunder (“Section 409A”), such that there are no adverse tax consequences, interest, or penalties as a result of
the payments. Notwithstanding the Company’s intention, in the event any Award is subject to Section 409A, the Committee may, in its sole discretion and without a Participant’s prior consent, amend the Plan and/or Awards, adopt
policies and procedures, or take any other actions (including amendments, policies, procedures and actions with retroactive effect) as are necessary or appropriate to (a) exempt the Plan and/or any Award from the application of
Section 409A, (b) preserve the intended tax treatment of any such Award, or (c) comply with the requirements of Section 409A, including without limitation any such regulations guidance, compliance programs and other
interpretative authority that may be issued after the date of the grant. 
 (ii) Payments to Specified
Employees. Notwithstanding any contrary provision in the Plan or Award Document, any payment(s) of nonqualified deferred compensation (within the meaning of Section 409A) that are otherwise required to be made under the Plan to a
“specified employee” (as defined under Section 409A) as a result of his or her separation from service (other than a payment that is not subject to Section 409A) shall be delayed for the first six (6) months following such
separation from service (or, if earlier, the date of death of the specified employee) and shall instead be paid (in a manner set forth in the Award Document) on the payment date that immediately follows the end of such six-month period or as soon as
administratively practicable thereafter. 
 (iii) Separation from Service. A termination of employment
shall not be deemed to have occurred for purposes of any provision of the Plan or any Award Document providing for the payment of any amounts or benefits that are considered nonqualified deferred compensation under Section 409A upon or
following a termination of employment, unless such termination is also a “separation from service” within the meaning of Section 409A and the payment thereof prior to a “separation from service” would violate
Section 409A. For purposes of any such provision of the Plan or any Award Document relating to any such payments or benefits, references to a “termination,” “termination of employment” or like terms shall mean
“separation from service.” 
 (f) Awards to Individuals Subject to Laws of a Jurisdiction Outside of the United
States 
 To the extent that Awards under the Plan are awarded to Eligible Persons who are domiciled or resident outside of
the United States or to persons who are domiciled or resident in 
  

 20 

 
the United States but who are subject to the tax laws of a jurisdiction outside of the United States, the Committee may adjust the terms of the Awards granted hereunder to such person (i) to
comply with the laws, rules and regulations of such jurisdiction and (ii) to permit the grant of the Award not to be a taxable event to the Participant. The authority granted under the previous sentence shall include the discretion for the
Committee to adopt, on behalf of the Company, one or more sub-plans applicable to separate classes of Eligible Persons who are subject to the laws of jurisdictions outside of the United States. 

(g) No Guarantees Regarding Tax Treatment. Participants (and their beneficiaries) shall be responsible for all taxes with respect
to any Awards under the Plan. The Committee and the Company make no guarantees to any Person regarding the tax treatment of Awards or payments made under the Plan. Neither the Committee nor the Company has any obligation to take any action to
prevent the assessment of any tax on any Person with respect to any Award under Section 409A of the Code or otherwise and none of the Company, any of its Subsidiaries or Affiliates, or any of their employees or representatives shall have any
liability to a Participant with respect thereto. 
 (h) Satisfaction of Obligations 

Subject to applicable law, and except to the extent that it would cause a failure to comply with Section 409A of the Code, the
Company may apply any cash, Shares, securities or other consideration received by a Participant upon exercise or settlement of an Award to any obligations a Participant owes to the Company and the Subsidiaries in connection with the Plan or
otherwise, including, without limitation, any tax obligations or obligations under a currency facility established in connection with the Plan. 

(i) No Limitation on Corporate Actions 

Nothing contained in the Plan shall be construed to prevent the Company or any Subsidiary from taking any corporate action, whether or
not such action would have an adverse effect on any Awards made under the Plan. No Participant, beneficiary or other person shall have any claim against the Company or any Subsidiary as a result of any such action. 

(j) Unfunded Plan 

The Plan is intended to constitute an unfunded plan for incentive compensation. Prior to the issuance of Shares, cash or other form of
payment in connection with an Award, nothing contained herein shall give any Participant any rights that are greater than those of a general unsecured creditor of the Company. The Committee may, but is not obligated, to authorize the creation of
trusts or other arrangements to meet the obligations created under the Plan to deliver Shares with respect to awards hereunder. 

(k) Successors 

All obligations of the Company under the Plan with respect to Awards granted hereunder shall be binding on any successor to the Company,
whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 

 

 21 

 (l) Application of Funds 

The proceeds received by the Company from the sale of Shares pursuant to Awards will be used for general corporate purposes. 

(m) Award Document 

In the event of any conflict or inconsistency between the Plan and any Award Document, the Plan shall govern and the Award Document shall
be interpreted to minimize or eliminate any such conflict or inconsistency. 
 (n) Headings 

The headings of Sections herein are included solely for convenience of reference and shall not affect the meaning of any of the
provisions of the Plan. 
 (o) Severability 

If any provision of this Plan is held unenforceable, the remainder of the Plan shall continue in full force and effect without regard to
such unenforceable provision and shall be applied as though the unenforceable provision were not contained in the Plan. 
 (p)
Expenses 
 The costs and expenses of administering the Plan shall be borne by the Company. 

(q) Arbitration 

Any dispute, controversy or claim arising out of or relating to the Plan that cannot be resolved by the Participant on the one hand, and
the Company on the other, shall be submitted to arbitration in the State of New Jersey under the National Rules for the Resolution of Employment Disputes of the American Arbitration Association; provided, however, that any such
submission by the Participant must be made within one year of the date of the events giving rise to such dispute, controversy or claim. The determination of the arbitrator shall be conclusive and binding on the Company and the Participant, and
judgment may be entered on the arbitrator’s award in any court having jurisdiction. The expenses of such arbitration shall be borne by the Company; provided, however, that each party shall bear its own legal expenses unless the
Participant is the prevailing party, in which case the Company shall promptly pay or reimburse the Participant for the reasonable legal fees and expenses incurred by the Participant in connection with such contest or dispute (excluding any fees
payable pursuant to a contingency fee arrangement). 
 (r) Governing Law 

Except as to matters of federal law, the Plan and all actions taken thereunder shall be governed by and construed in accordance with the
laws of the State of New York. 
  

 22

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