Document:

1999 Non-Employee Directors' Phantom Stock Unit Plan

 Exhibit 10.2 
 CALGON CARBON CORPORATION 
 1999 NON-EMPLOYEE DIRECTORS’ 
 PHANTOM STOCK UNIT PLAN 
 (as amended
through September 13, 2005) 
 The purposes of the 1999 Non-Employee Directors’ Phantom Stock Unit Plan (the “Plan”)
are to promote the long-term success of Calgon Carbon Corporation (the “Company”) and its Subsidiaries by creating a mutuality of interests between the non-employee Directors and the stockholders of the Company, to provide an additional
inducement for such Directors to remain with the Company and to provide a means through which the Company may attract able persons to serve as Directors of the Company. 
 SECTION 1 
 Administration 
 The Plan shall be administered the Board of Directors of the Company (the “Board”). The Board may delegate some or all of its duties hereunder
to a Committee appointed by the Board. The Board shall interpret the Plan and prescribe such rules, regulations and procedures in connection with the operations of the Plan as it shall deem to be necessary and advisable for the administration of the
Plan consistent with the purposes of the Plan. All questions of interpretation and application of the Plan, or as to Units (as defined in Section 3 below) granted under the Plan, shall be subject to the determination of the Board, which shall
be final and binding. 
 Notwithstanding the above, the selection of the Directors to whom Units are to be granted, the timing of such
grants, the number of Units to be granted (including the dollar value used to calculate the Units to be granted), the time at which the Units may be exercised and the term of any Units shall be as hereinafter provided, and the Board shall have no
discretion as to such matters unless and until the Plan is amended in accordance with the Plan. 
 SECTION 2 
 Units Available under the Plan 
 The
aggregate number of Units (as defined in Section 3 below) which may be granted under the Plan is 1,000,000 Units, subject to adjustment and substitution as set forth in Section 7. If any Units granted under the Plan are cancelled by mutual
consent or terminate or expire for any reason without having 

 
been exercised in full, such number of Units shall again be available for purposes of the Plan. 
 SECTION 3 
 Eligibility and Grant of Phantom Stock Units 
 On the first business day following the day of each annual meeting of the stockholders of the Company, each person who is then a member of the Board and
who is not then an employee of the Company or any of its subsidiaries (a “non-employee Director”) shall automatically and without further action by the Board be granted a number of phantom stock units (a “Unit” or
“Units”) equal to $7,000 divided by the Fair Market Value (as defined in Section 5(H) below) of a share of Common Stock, $.01 par value, of the Company on such date, with fractional interests rounded up to the next whole share.

 On the day that each person who was not prior thereto a member of the Board and who is not then an employee of the Company or any of its
subsidiaries is elected to the Board, other than such person being elected at an Annual Meeting of the Company (the “Join Date”), such person shall automatically and without further action by the Board by granted a number of Units equal to
the Prorated Amount (as defined below) divided by the Fair Market Value of a share of Common Stock of the Company on such Join Date, with fractional interests rounded up to the next whole share. “Prorated Amount” shall mean (i) $1,750
if the Join Date is in January, February, March or April, (ii) $3,500 if the Join Date is in October, November or December; (iii) $5,250 if the Join Date is in July, August or September; and (iv) $7,000 if the Join Date is in May or
June. 
 SECTION 4 
 Value of Units 
 A Unit shall evidence the right to receive an amount equal to the Fair Market Value (as defined in
Section 5(H) below) of a share of Common Stock as of a specified date or as of the date of occurrence of a specified event. 
 SECTION
5 
 Terms and Conditions of Units 
 Units granted under the Plan shall be subject to the following terms and conditions: 
 (A)
Units shall fully vest on the date of grant. 
  

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 (B) Upon exercise of a Unit by a grantee, such grantee shall be entitled to be paid cash
equal to the Fair Market Value (as defined in Section 5(H) below) of a share of Common Stock on the date of exercise, multiplied by the number of Units exercised. All Unit exercises shall be settled in cash and not in Common Stock of the
Company. Amounts due upon any exercises of Units shall be paid by the Company in full on or before 30 days from the date of separation from service (as defined in Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”)). 
 (C) Units shall only be exercisable, and shall automatically be exercised, upon a non-employee
Director’s separation from service on the Board, whether due to death, disability, removal, resignation, failure to stand for re-election, failure to be re-elected or otherwise. 
 (D) All calculations to be performed under this Plan shall be done by the Board or its designees, in its discretion, whose determination
shall be final and binding, absent manifest error. 
 (E) Except as may be required by law, the grantee shall not have the
right to, directly or indirectly, alienate, assign, transfer, pledge, anticipate or encumber (except upon death, by Will or if the grantee dies intestate, by the laws of descent and distribution of the state of domicile of the grantee at the time of
death) any amount that is or may be payable hereunder, including in respect of any liability of a grantee for alimony or other payments for the support of a spouse, former spouse, child or other dependent, prior to actually being received by the
grantee hereunder, nor shall the grantee’s rights to payments under the Plan be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors of the grantee or to the
debts, contracts, liabilities, engagements, or torts of the grantee, or transfer by operation of law in the event of bankruptcy or insolvency of the grantee, or any legal process. All Units shall be exercisable during the lifetime of the grantee
only by the grantee. 
 (F) All Units shall be confirmed by an agreement, or an amendment thereto, which shall be executed on
behalf of the Company by the Chief Executive Officer (if other than the President), the President or any Vice President and by 

  

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the grantee. The provisions of such agreements, or amendments thereto, need not be identical. 
 (G) The obligation of the Company to grant or honor the exercise of Units under the Plan shall be subject to (i) the effectiveness of
a registration statement under the Securities Act of 1933, as amended, with respect to such shares, if deemed necessary or appropriate by counsel for the Company, and (ii) all other applicable laws, regulations, rules and orders which may then
be in effect. 
 (H) Fair market value of the Common Stock shall be the mean between the following prices, as applicable, for
the date as of which fair market value is to be determined as quoted in The Wall Street Journal (or in such other reliable publication as the Committee, in its discretion, may determine to rely upon): (a) if the
Common Stock is listed on the New York Stock Exchange, the highest and lowest sales prices per share of the Common Stock as quoted in the NYSE-Composite Transactions listing for such date, (b) if the Common Stock is not listed on such exchange,
the highest and lowest sales prices per share of Common Stock for such date on (or on any composite index including) the principal United States securities exchange registered under the Securities Exchange Act of 1934 (the “1934 Act”) on
which the Common Stock is listed, or (c) if the Common Stock is not listed on any such exchange, the highest and lowest sales prices per share of the Common Stock for such date on the National Association of Securities Dealers Automated
Quotations System or any successor system then in use (“NASDAQ”). If there are no such sale price quotations for the date as of which fair market value is to be determined but there are such sale price quotations within a reasonable period
both before and after such date, then fair market value shall be determined by taking a weighted average of the means between the highest and lowest sales prices per share of the Common Stock as so quoted on the nearest date before and the nearest
date after the date as of which fair market value is to be determined. The average should be weighted inversely by the respective numbers of trading days between the selling dates and the date as of which fair market value is to be determined. If
there are no such sale price quotations on or within a reasonable period both before and after the date as of which fair market value is to be determined, then fair market value of the Common Stock shall be the mean between the bona fide bid and
asked prices per share of Common Stock as so quoted for such date on NASDAQ, or if none, the weighted average of the means between such bona fide bid and asked prices on the nearest trading date before and the 

  

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nearest trading date after the date as of which fair market value is to be determined, if both such dates are within a reasonable period. The average is to
be determined in the manner described above in this Section 5(H). If the fair market value of the Common Stock cannot be determined on the basis previously set forth in this Section 5(H) for the date as of which fair market value is to be
determined, the Committee shall in good faith determine the fair market value of the Common Stock on such date. Fair market value shall be determined without regard to any restriction other than a restriction which, by its terms, will never lapse.

 (I) If Units are outstanding as of the record date for determination of the stockholders of the Company entitled to receive
a cash dividend on its outstanding shares of Common Stock, on the date of payment of the dividend or distribution to holders of the Common Stock, each Unit Account shall be credited with a number of shares of Common Stock (including fractional
shares) equal to the number of shares of Common Stock that had been credited to such Unit Account on the date fixed for determining the stockholders entitled to receive such dividend or distribution multiplied by the amount of the dividend or
distribution paid per share of Common Stock divided by the Fair Market Value of one share of the Common Stock, as defined in Section 5(H) hereof, on the date on which the dividend or distribution is paid. If the dividend or distribution is not
paid in cash but is paid in property other than Common Stock, the amount of the dividend or distribution shall equal the fair market value of the property on the date on which the dividend or distribution is paid. All Units which are credited from
dividends shall be paid in cash upon a grantee’s separation from service as director at the same time payment is made under Section 5(B) of the Plan. 
 Subject to the foregoing provisions of this Section 5 and the other provisions of the Plan, Units granted under the Plan shall be subject to such restrictions and other terms and conditions, if any, as shall be
determined, in its discretion, by the Board and set forth in the agreement referred to in Section 5(F), or an amendment thereto. 
 SECTION 6 
 Nature of Units 
 Units are not shares of the Company. Units do not have any voting or liquidation rights. A grantee will have no 

  

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rights of a stockholder of the Company with respect to any Units. Except as provided in Section 7 below, a grantee shall have no rights by reason of any
issue by the Company of stock of any class or securities convertible into stock of any class, any subdivision or consolidation of shares of stock of any class, the payment of any stock dividend or any other increase or decrease in the number of
shares of stock of any class. 
 The Plan constitutes a mere promise by the Company to make payments in the future. The Company’s
obligations under the Plan shall be unfunded and unsecured promises to pay. The Company shall not be obligated under any circumstance to fund its financial obligations under the Plan. The Company may, in its discretion, set aside funds in a trust,
in brokerage accounts, or in other vehicles, subject to the claims of its creditors, in order to assist it in meeting its obligations under the Plan, if such arrangement will not cause the Plan to be considered a funded deferred compensation plan
under ERISA or the Code. To the extent that any grantee or other person acquires a right to receive payments under the Plan, such right shall be no greater than the right, and each such person shall at all times have the status, of a general
unsecured creditor of the Company. 
 SECTION 7 
 Adjustment and Substitution of Units 
 If a dividend or other distribution shall be declared upon the
Common Stock payable in shares of the Common Stock, the number of Units set forth in Section 2 and the number of Units then held by non-employee Directors shall be adjusted by adding thereto a number of Units equal to the number of shares which
would have been distributable on such Units if such Units were shares outstanding on the date fixed for determining the stockholders entitled to receive such stock dividend or distribution. 
 In the event that the outstanding Common Stock shall be changed in number, class or character by reason of any split-up, change of par value, stock
dividend, combination or reclassification of shares, merger, consolidation or other corporate change, or shall be changed in value by reason of any spin-off, dividend in partial liquidation or other special distribution, the Board shall make such
changes as it may deem equitable in outstanding Units awarded pursuant to the Plan and the number and character of Units available for future awards. 
  

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 SECTION 8 
 Effect of the Plan on the 
 Rights of Company and Stockholders 
 Nothing in the Plan, in any Units granted under the Plan, or in any Unit agreement shall confer any right to any person to continue as a Director of the
Company or interfere in any way with the rights of the stockholders of the Company or the Board of Directors to elect and remove Directors. 
 SECTION 9 
 Amendment and Termination 
 The right to alter and amend the Plan at any time and from time to time and the right to revoke or terminate the Plan are hereby specifically reserved to the Board; provided, that no amendment of the Plan shall
(a) be made without stockholder approval if stockholder approval of the amendment is at the time required for Units under the Plan to qualify for the exemption from Section 16(b) of the 1934 Act provided by Rule 16b-3 or by the rules of
the NASDAQ National Market System or any stock exchange on which the Common Stock may then be listed, (b) amend more than once every six months the provisions of the Plan relating to the selection of the Directors to whom Units are to be
granted, the timing of such grants, the number of Units to be granted (including the dollar value used to calculate the Units to be granted), the time at which the Units may be exercised and the term of any Units other than to comport with changes
in the Code or the rules and regulations thereunder or (c) otherwise amend the Plan in any manner that would cause Units under the Plan not to qualify for the exemption provided by Rule 16b-3. No alteration, amendment, revocation or termination
of the Plan shall, without the written consent of the holder of Units theretofore granted under the Plan, adversely affect the rights of such holder with respect thereto. 
 Notwithstanding anything contained in the preceding paragraph or any other provision of the Plan or any Unit agreement, the Board shall have the power to amend the Plan in any manner deemed necessary or advisable for
Units granted under the Plan to qualify for the exemption provided by Rule 16b-3 (or any successor rule relating to exemption from Section 16(b) of the 1934 Act), and any such amendment shall, to the extent deemed necessary or advisable by the
Board, be applicable to any outstanding Units theretofore granted under the Plan notwithstanding any contrary provisions contained in any Unit agreement. In the event of any such amendment to the Plan, the 

  

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holder of any Unit outstanding under the Plan shall, upon request of the Board and as a condition to the exercisability of such Unit, execute a conforming
amendment in the form prescribed by the Board to the Unit agreement referred to in Section 5(F) within such reasonable time as the Board shall specify in such request. 
 SECTION 10 
 Governing Law 
 The Plan shall be governed by and interpreted in accordance with the laws of the Commonwealth of Pennsylvania. 
 SECTION 11 
 Effective Date and
Duration of Plan 
 The effective date and date of adoption of the Plan shall be March 15, 1999. No Units may be granted under the
Plan subsequent to March 14, 2009. 
  

 – 8 –1993 Non-Employee Directors' Stock Option Plan

 Exhibit 10.3 
 CALGON CARBON CORPORATION 
 1993 NON-EMPLOYEE DIRECTORS’ STOCK OPTION PLAN 
 (as amended through September 13, 2005) 
 The purposes of the 1993 Non-Employee Directors’ Stock Option Plan (the “Plan”) are to promote the long-term success of Calgon Carbon Corporation (the “Company”) by creating a long-term mutuality of interests
between the non-employee Directors and stockholders of the Company, to provide an additional inducement for such Directors to remain with the Company and to provide a means through which the Company may attract able persons to serve as Directors of
the Company. 
 SECTION 1 
 Administration 
 The Plan shall be administered by a Committee (the “Committee”) appointed by the Board of
Directors of the Company (the “Board”) and consisting of not less than two members of the Board. The Committee shall keep records of action taken at its meetings. A majority of the Committee shall constitute a quorum at any meeting, and
the acts of a majority of the members present at any meeting at which a quorum is present, or acts approved in writing by a majority of the Committee, shall be the acts of the Committee. 
 The Committee shall interpret the Plan and prescribe such rules, regulations and procedures in connection with the operations of the Plan as it shall
deem to be necessary and advisable for the administration of the Plan consistent with the purposes of the Plan. All questions of interpretation and application of the Plan, or as to stock options granted under the Plan, shall be subject to the
determination of the Committee, which shall be final and binding. 
 Notwithstanding the above, the selection of the Directors to whom stock
options are to be granted, the timing of such grants, the number of shares subject to any stock option, the exercise price of any stock option, the vesting or forfeiture of any stock option, the periods during which any stock option may be exercised
and the term of any stock option shall be as hereinafter provided, and the Committee shall have no discretion as to such matters. 
 SECTION 2 
 Shares Available under the Plan 
 The aggregate number of shares which may be issued or delivered and as to which grants of stock options may be made under the Plan, effective from the
date of amendment and restatement of Plan, is 978,500 shares of the Common Stock, $.01 par value, of the Company (the “Common Stock”) (consisting of 434,677 shares of Common Stock reserved for outstanding stock options and 543,823 shares
of Common Stock available for stock options which have not yet been granted), subject to adjustment and substitution as set forth in Section 5. If any stock option granted under the Plan is cancelled by mutual consent, is forfeited or
terminates or expires for any reason without having been exercised in full, the number of shares subject thereto shall again be available for purposes of the Plan. The shares which may be issued or delivered under the Plan may be either authorized
but unissued shares or reacquired shares or partly each, as shall be determined from time to time by the Board. 

 SECTION 3 
 Grant of Stock Options 
 On the first business day following the day of each annual meeting of the
stockholders of the Company, each person who is then a member of the Board and who is not then an employee of the Company or any of its subsidiaries (a “non-employee Director”) shall automatically and without further action by the Board or
the Committee be granted a “nonstatutory stock option” (i.e., a stock option which does not qualify under Sections 422 or 423 of the Internal Revenue Code of 1986 (the “Code”)) to purchase the Calculated Number (as defined
below) of shares of Common Stock, subject to adjustment and substitution as set forth in Section 5. As used herein, “Calculated Number” shall mean the number of options for shares of Common Stock of the Company having a then current
option value of $25,000, calculated using the Black-Scholes formula for option value (or such successor formula as may exist from time to time), with such calculation being accomplished by or on behalf of the Company on April 1 (or the next
business day thereafter if April 1 is not a business day) of each year for the next succeeding option grant. If the number of shares then remaining available for the grant of stock options under the Plan is not sufficient for each non-employee
Director to be granted an option for the number of shares to which such non-employee Director is entitled (or the number of adjusted or substituted shares pursuant to Section 5), then each non-employee Director shall be granted an option for a
number of whole shares equal to the number of shares then remaining times a percentage obtained by dividing the number of option shares to which such non-employee Director is entitled by the total number of option shares to be granted to all
non-employee Directors at such time, disregarding any fractions of a share. 
 On the day that each person who was not prior thereto a member
of the Board and who is not then an employee of the Company or any of its subsidiaries is elected to the Board, other than such person being elected at an Annual Meeting of the Company (the “Join Date”), such person shall automatically and
without further action by the Board be granted a nonstatutory stock option to purchase a pro rata share of the last Calculated Number of shares of Common Stock based upon the number of months from the Join Date until the anniversary of the last
Annual Meeting, rounded to the nearest 1,000 shares (and rounded downward at 500 shares), subject to adjustment and substitution as set forth in Section 5. As an example of the foregoing, for an Annual Meeting anniversary date in April, with a
new Director elected in July, such Director would be entitled to 75% of the Calculated Amount (July is nine months before April), and 9 ÷ 12 = 75%. 
 SECTION 4 
 Terms and Conditions of Stock Options 
 Stock options granted under the Plan shall be subject to the following terms and conditions: 
 (A) The purchase price at which each stock option may be exercised (the “option price”) shall be one hundred percent
(100%) of the fair market value per share of the Common Stock on the date of the grant of stock options pursuant to the Plan, determined as provided in Section 4(G). 
 (B) The option price for each stock option shall be paid in full upon exercise and shall be payable in cash in United States dollars
(including check, bank draft or money order), which may include cash forwarded through a broker or other agent-sponsored exercise or financing program; provided, however, that in lieu of such 

  

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cash the person exercising the stock option may pay the option price in whole or in part by delivering to the Company shares of the Common Stock having a
fair market value on the date of exercise of the stock option, determined as provided in Section 4(G), equal to the option price for the shares being purchased; except that (i) any portion of the option price representing a fraction of a
share shall in any event be paid in cash and (ii) no shares of the Common Stock which have been held for less than one year may be delivered in payment of the option price of a stock option. If the person exercising a stock option participates
in a broker or other agent-sponsored exercise or financing program, the Company will cooperate with all reasonable procedures of the broker or other agent to permit participation by the person exercising the stock option in the exercise or financing
program. Notwithstanding any procedure of the broker or other agent-sponsored exercise or financing program, if the option price is paid in cash, the exercise of the stock option shall not be deemed to occur and no shares of the Common Stock will be
issued or delivered until the Company has received full payment in cash (including check, bank draft or money order) for the option price from the broker or other agent. The date of exercise of a stock option shall be determined under procedures
established by the Committee, and as of the date of exercise the person exercising the stock option shall be considered for all purposes to be the owner of the shares with respect to which the stock option has been exercised. Payment of the option
price with shares shall not increase the number of shares of the Common Stock which may be issued or delivered under the Plan as provided in Section 2. 
 (C) Stock options granted hereunder shall vest and be exercisable six months following the date of grant, except in the case of death as
provided in Section 4(E); provided, however, that the stock options granted in 1997 shall vest and be exercisable in accordance with the Plan prior to its amendment and restatement. Subject to the terms of Section 4(E)
providing for earlier termination of a stock option, no stock option shall be exercisable after the expiration of ten years from the date of grant. A stock option to the extent exercisable at any time may be exercised in whole or in part.

 (D) No stock option shall be transferable by the grantee otherwise than by Will, or if the grantee dies intestate, by the
laws of descent and distribution of the state of domicile of the grantee at the time of death. All stock options shall be exercisable during the lifetime of the grantee only by the grantee or the grantee’s guardian or legal representative.

 (E) If a grantee ceases to be a Director of the Company, any outstanding stock options held by the grantee shall vest and
be exercisable and shall terminate, according to the following provisions: 
 (i) If a grantee ceases to be a Director of the
Company for any reason other than resignation, removal for cause or death, any then outstanding stock option held by such grantee shall be exercisable by the grantee (but only to the extent that such stock option is vested and exercisable by the
grantee immediately prior to ceasing to be a Director) at any time prior to the expiration date of such stock option or within one year after the date the grantee ceases to be a Director, whichever is the shorter period; 
 (ii) If during his term of office as a Director a grantee resigns from the Board or is removed from office for cause, any then outstanding
stock option held by such grantee shall be exercisable by the grantee (but only to the extent that such stock option is vested and exercisable by the grantee immediately prior to ceasing to be a Director) at any time prior to the expiration date of
such 

  

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stock option or within 90 days after the date of resignation or removal, whichever is the shorter period; 
 (iii) Following the death of a grantee during service as a Director of the Company, any outstanding stock option held by the grantee at
the time of death (whether or not vested and exercisable by the grantee immediately prior to death) shall vest and be exercisable by the person entitled to do so under the Will of the grantee, or, if the grantee shall fail to make testamentary
disposition of the stock option or shall die intestate, by the legal representative of the grantee at any time prior to the expiration date of such stock option or within one year after the date of death, whichever is the shorter period; 

(iv) Following the death of a grantee after ceasing to be a Director (but only to the extent that such stock option is vested and
exercisable by the grantee immediately prior to ceasing to be a Director), any outstanding stock option held by the grantee at the time of death shall vest and be exercisable by such person entitled to do so under the Will of the grantee or by such
legal representative at any time prior to the expiration date of such stock option or within one year after the date of death, whichever is the shorter period. 
 (F) All stock options shall be confirmed by an agreement, or an amendment thereto, which shall be executed on behalf of the Company by the
Chief Executive Officer (if other than the President), the President or any Vice President and by the grantee. 
 (G) Fair
market value of the Common Stock shall be the mean between the following prices, as applicable, for the date as of which fair market value is to be determined as quoted in The Wall Street Journal (or in such other reliable publication as the
Committee, in its discretion, may determine to rely upon): (a) if the Common Stock is listed on the New York Stock Exchange, the highest and lowest sales prices per share of the Common Stock as quoted in the NYSE-Composite Transactions listing
for such date, (b) if the Common Stock is not listed on such exchange, the highest and lowest sales prices per share of Common Stock for such date on (or on any composite index including) the principal United States securities exchange
registered under the Securities Exchange Act of 1934 (the “1934 Act”) on which the Common Stock is listed, or (c) if the Common Stock is not listed on any such exchange, the highest and lowest sales prices per share of the Common
Stock for such date on the National Association of Securities Dealers Automated Quotations System or any successor system then in use (“NASDAQ”). If there are no such sale price quotations for the date as of which fair market value is to
be determined but there are such sale price quotations within a reasonable period both before and after such date, then fair market value shall be determined by taking a weighted average of the means between the highest and lowest sales prices per
share of the Common Stock as so quoted on the nearest date before and the nearest date after the date as of which fair market value is to be determined. The average should be weighted inversely by the respective numbers of trading days between the
selling dates and the date as of which fair market value is to be determined. If there are no such sale price quotations on or within a reasonable period both before and after the date as of which fair market value is to be determined, then fair
market value of the Common Stock shall be the mean between the bona fide bid and asked prices per share of Common Stock as so quoted for such date on NASDAQ, or if none, the weighted average of the means between such bona fide bid and asked prices
on the nearest trading date before and the nearest trading date after the date as of which fair market value is to be determined, if both such dates are within a reasonable period. The average is to be determined in the manner described above in

  

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this Section 4(G). If the fair market value of the Common Stock cannot be determined on the basis previously set forth in this Section 4(G) for the
date as of which fair market value is to be determined, the Committee shall in good faith determine the fair market value of the Common Stock on such date. Fair market value shall be determined without regard to any restriction other than a
restriction which, by its terms, will never lapse. 
 (H) The obligation of the Company to issue or deliver shares of the
Common Stock under the Plan shall be subject to (i) the effectiveness of a registration statement under the Securities Act of 1933, as amended, with respect to such shares, if deemed necessary or appropriate by counsel for the Company,
(ii) the condition that the shares shall have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange, if any, on which the Common Stock shares may then be listed and (iii) all other applicable
laws, regulations, rules and orders which may then be in effect. 
 Subject to the foregoing provisions of this Section 4 and the other
provisions of the Plan, any stock option granted under the Plan may be subject to such restrictions and other terms and conditions, if any, as shall be determined, in its discretion, by the Committee and set forth in the agreement referred to in
Section 4(F), or an amendment thereto. 
 SECTION 5 
 Adjustment and Substitution of Shares 
 If a dividend or other distribution shall be declared upon
the Common Stock payable in shares of the Common Stock, the number of shares of the Common Stock set forth in Section 3, the number of shares of the Common Stock then subject to any outstanding stock options and the number of shares of the
Common Stock which may be issued or delivered under the Plan but are not then subject to outstanding stock options shall be adjusted by adding thereto the number of shares of the Common Stock which would have been distributable thereon if such
shares had been outstanding on the date fixed for determining the stockholders entitled to receive such stock dividend or distribution. 
 If
the outstanding shares of the Common Stock shall be changed into or exchangeable for a different number or kind of shares of stock or other securities of the Company or another corporation, whether through reorganization, reclassification,
recapitalization, stock split-up, combination of shares, merger or consolidation, then there shall be substituted for each share of the Common Stock set forth in Section 3, for each share of the Common Stock subject to any then outstanding
stock option, and for each share of the Common Stock which may be issued or delivered under the Plan but which is not then subject to any outstanding stock option, the number and kind of shares of stock or other securities into which each
outstanding share of the Common Stock shall be so changed or for which each such share shall be exchangeable. 
 In case of any adjustment or
substitution as provided for in this Section 5, the aggregate option price for all shares subject to each then outstanding stock option prior to such adjustment or substitution shall be the aggregate option price for all shares of stock or
other securities (including any fraction) to which such shares shall have been adjusted or which shall have been substituted for such shares. Any new option price per share shall be carried to at least three decimal places with the last decimal
place rounded upwards to the nearest whole number. 
  

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 No adjustment or substitution provided for in this Section 5 shall require the Company to issue or
deliver or sell a fraction of a share or other security. Accordingly, all fractional shares or other securities which result from any such adjustment or substitution shall be eliminated and not carried forward to any subsequent adjustment or
substitution. 
 SECTION 6 
 Effect of the Plan on the Rights of Company and Stockholders 
 Nothing in the Plan, in any stock option granted under the
Plan, or in any stock option agreement shall confer any right to any person to continue as a Director of the Company or interfere in any way with the rights of the stockholders of the Company or the Board of Directors to elect and remove Directors.

 SECTION 7 
 Amendment
and Termination 
 The right to amend the Plan at any time and from time to time and the right to terminate the Plan at any time are
hereby specifically reserved to the Board; provided always that no such termination shall terminate any outstanding stock options granted under the Plan; and provided further that no amendment of the Plan shall (a) be made without stockholder
approval if stockholder approval of the amendment is at the time required for stock options under the Plan to qualify for the exemption from Section 16(b) of the 1934 Act provided by Rule 16b-3 or by the rules of the NASDAQ National Market
System or any stock exchange on which the Common Stock may then be listed, (b) amend more than once every six months the provisions of the Plan relating to the selection of the Directors to whom stock options are to be granted, the timing of
such grants, the number of shares subject to any stock option, the exercise price of any stock option, the periods during which any stock option may be exercised and the term of any stock option other than to comport with changes in the Code or the
rules and regulations thereunder or (c) otherwise amend the Plan in any manner that would cause stock options under the Plan not to qualify for the exemption provided by Rule 16b-3. No amendment or termination of the Plan shall, without the
written consent of the holder of a stock option theretofore awarded under the Plan, adversely affect the rights of such holder with respect thereto. 
 Notwithstanding anything contained in the preceding paragraph or any other provision of the Plan or any stock option agreement, the Board shall have the power to amend the Plan in any manner deemed necessary or
advisable for stock options granted under the Plan to qualify for the exemption provided by Rule 16b-3 (or any successor rule relating to exemption from Section 16(b) of the 1934 Act), and any such amendment shall, to the extent deemed
necessary or advisable by the Board, be applicable to any outstanding stock options theretofore granted under the Plan notwithstanding any contrary provisions contained in any stock option agreement. In the event of any such amendment to the Plan,
the holder of any stock option outstanding under the Plan shall, upon request of the Committee and as a condition to the exercisability of such option, execute a conforming amendment in the form prescribed by the Committee to the stock option
agreement referred to in Section 4(F) within such reasonable time as the Committee shall specify in such request. 
  

 6 

 SECTION 8 
 Effective Date and Duration of Plan 
 The effective date and date of adoption of the Plan shall be
February 11, 1993, the date of adoption of the Plan by the Board, such Plan having been thereafter also approved by the stockholders of the Company, and the effective date and date of adoption of the amendment and restatement of the Plan shall
be February 4, 2005, the date of adoption of the same by the Board, provided that the amendment and restatement is approved by the stockholders at a meeting of stockholders duly called, convened and held on or prior to January 31, 2006, at
which a quorum representing a majority of the outstanding voting stock of the Company is, either in person or by proxy, present and voting on the Plan. No stock option granted under the Plan on or after February 4, 2005 may be exercised until
after such approval; provided, that the foregoing shall not apply to stock options granted with shares which were available under the Plan prior to the amendment and restatement of the Plan on February 4, 2005. No stock option may be
granted under the Plan subsequent to January 31, 2015. 
  

 7

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