Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is entered into as of August 16, 2017 (the “Effective
Date”) by and between C&J Energy Services, Inc., a Delaware company (the “Company”), and Sterling Renshaw (“Executive”), and is effective as of the Effective Date. 

RECITALS 
 WHEREAS, the
Company desires to retain the experience, abilities and service of Executive in a new position; and 
 WHEREAS, Executive wishes to continue
to be employed by the Company under the conditions of employment specified in this Agreement; and 
 WHEREAS, both the Company and Executive
have read and understood the terms of this Agreement, and have been afforded a reasonable opportunity to review this Agreement with their respective legal counsel. 

NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this Agreement, the parties hereto agree as follows,
effective as of the Effective Date: 
 AGREEMENT 

ARTICLE I 

DEFINITIONS 

1.1    Certain Definitions. For purposes of this Agreement, the following terms shall have the
meanings specified or referred to in this Section 1.1: 

(a)    “Accrued Obligation” shall mean the sum of (i) Executive’s Base
Salary earned through the Date of Termination and (ii) to the extent permitted by the Company’s vacation policies as may exist from time to time, any accrued, unused vacation pay earned by Executive, in both cases, to the extent not
theretofore paid. 
 (b)    “Applicable Anti-Corruption Laws” shall mean all
anti-corruption and anti-bribery laws and legislation that are or may become applicable to Executive or to the Company or its Subsidiaries, whether as a result of the location of citizenship, incorporation or registration, or business operations,
including but not limited to the U.S. Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010, and the principles set out in the Organization for Economic Cooperation and Development Convention Combating Bribery of Foreign Public
Officials in International Business Transactions. 
 (c)    “Board” shall mean
the Board of Directors of the Company. 
 (d)    “Business” shall mean
(i) any business in which the Company or any of its Subsidiaries is engaged during the Term and for which Executive has (or has had) responsibilities or about which Executive has Confidential Information and (ii) as of the end of the Term,
any other business in which the Company or any of its Subsidiaries has undertaken material, substantive steps to engage within the twelve 

 
(12) month period prior to such time and for which Executive has had material responsibility with regard to, or Confidential Information about, such steps. Without limiting the foregoing,
“Business” shall be deemed to include, without limitation, the well completion and servicing business (including but not limited to hydraulic fracturing, coiled tubing, pressure pumping, cased-hole wireline, pressure testing, pump-down,
perforating, pipe recovery and other complementary services); petroleum engineering services (including but not limited to services in connection with hydraulic fracture stimulation and reservoir engineering); the chemicals and fluids procurement
and sales business; cementing; workover rigs and related offerings; storage and disposal; logging, downhole and drilling tools; and data control systems. 

(e)    “Cause” shall mean Executive’s (i) willful and continued failure
to substantially perform, without proper legal justification the duties required hereunder or any other written agreement between Executive and the Company or any affiliate of the Company or as otherwise reasonably required by the Board in the
course of his duties; (ii) conviction, admission or plea of guilty or nolo contendere to a charge of felony, or conviction of or plea of guilty or nolo contendere to any dishonest conduct; (iii) any material breach of any of the terms of,
or failure to perform any of, his covenants contained herein or in any other written agreement between Executive and the Company or any affiliate of the Company; or (iv) material violation or failure to abide by lawful and material
instructions, policies or workplace rules established by the Company or any affiliate of the Company. 

(f)    “Change of Control” shall mean any of the following: 

(i)    any “person” or “group” shall become, directly or indirectly, the
“beneficial owner” (each quoted term as defined within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act or the regulations thereunder), by way of merger, consolidation, recapitalization, reorganization or otherwise, of
50% or more of the voting power of the Board; or 
 (ii)    the sale or other disposition of all or
substantially all of its assets of the Company in one or more transactions to any Person other than an Affiliate. 

Notwithstanding the foregoing, the parties acknowledge and agree that the restructuring transactions (specifically including
the change in ownership and Board composition) contemplated by the Plan of Reorganization arising under the Company’s (including certain of its subsidiaries) voluntary petitions for reorganization filed on July 20, 2016 seeking relief
under the provisions of Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division under the caption “In re: CJ Holding Co., et al., Case No. 16-33590”, including the emergence from bankruptcy as contemplated thereby, shall not constitute a Change of Control for purpose of this Agreement. 

(g)    “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(h)    “Company Group” shall mean, collectively, C&J Energy Services, Inc. and
its direct and indirect subsidiaries. 

  
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 (i)    “Date of Termination” shall
mean the effective date of termination of Executive’s employment hereunder, as specified in the applicable Notice of Termination. 

(j)    “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
applicable administrative guidance issued thereunder. 
 (k)    “Government
Official” shall mean any agent, representative, official, officer, director, or employee of any government or any department, agency, or instrumentality thereof (including but not limited to any officer, director, or employee of a
state-owned, operated or controlled entity) or of a public international organization, or any person acting in an official capacity for or on behalf of any such government, department, agency, instrumentality, or public international organization.

 (l)    “Permanent Disability” shall mean a sickness or disability that renders
Executive incapable of performing his duties hereunder for a period in excess of six (6) months during any consecutive twelve (12) month period. 

(m)    “Permitted Holder” shall mean (i) any trustee or other fiduciary
holding securities of the Company under an employee benefit plan of the Company or any of its affiliates, (ii) any subsidiary of the Company that is at least 80% owned by the Company and (iii) any corporation, partnership, limited
liability company or other entity owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of securities of the Company. 

(n)    “Protected Period” shall mean the period beginning three (3) months
prior to the effective date of a Change of Control, and ending on the one (1) year anniversary of the effective date of such Change of Control. 

(o)    “Release Expiration Date” shall mean the date that is twenty-one (21) days following the date upon which the Company timely delivers to Executive the Release (which shall occur no later than seven (7) days after the Date of Termination), or in the event that
such termination of employment is “in connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967, as amended), the date that is forty-five
(45) days following such delivery date. 
 (p)    “Restricted Area” shall
mean those geographic areas where the Company or any Subsidiary of the Company conducts the Business during the Term and for which Executive has or had material responsibilities. Without limiting the foregoing, the “Restricted Area” shall
include those countries, states, parishes, counties and other areas specified on Exhibit “A”, and any additional areas in which the Company or any Subsidiary of the Company has taken material, substantive steps,
with Executive’s assistance, in preparation of conducting the Business. 

(q)    “Section 409A” shall mean Section 409A
of the Code and the final Department of Treasury regulations and other interpretive guidance issued thereunder. 

(r)    “Subsidiary” shall mean any business entity with respect to which the
Company owns or controls, directly or indirectly, not less than a majority of the equity securities of such entity, or otherwise possesses, with by virtue of security ownership or contract, the power to elect a majority of the board of directors or
other governing body or officers thereof. 

  
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 ARTICLE II 

DUTIES 

2.1    Duties. During the Term (as defined below), Executive shall serve the Company as President
– Well Support Services, or in such other capacity as the Board, Chief Executive Officer or Chief Operating Officer of the Company shall determine. Executive shall comply with the policies of the Company as may be in effect from time to time
for executive officers, including, without limitation, the Company’s policies regarding confidentiality, ownership of intellectual property, drug testing, discrimination and harassment, and ethical conduct. Executive shall have such duties,
authorities and responsibilities as the Board, Chief Executive Officer or Chief Operating Officer of the Company shall designate that are consistent with Executive’s position. 

2.2    Extent of Duties. Subject to the use of vacation, holiday and other approved leave time,
Executive shall devote substantially all of his business time, energy and efforts to the affairs of the Company as the Company, acting through its Board, shall reasonably deem necessary in the discharge of Executive’s duties hereunder.
Executive shall not engage, directly or indirectly, in any other business or businesses, whether or not similar to that of the Company, except with the consent of the Chairman of the Board or as otherwise permitted by this
Section 2.2. Executive agrees to serve in the positions referred to in Section 2.1 and to perform diligently and to the best of his abilities the duties and services appertaining to such offices,
as well as such additional duties and services appropriate to such offices which the parties mutually may agree upon from time to time. Notwithstanding the foregoing, nothing herein shall prevent Executive from participating in social, civic,
charitable, religious, business, educational or professional associations, or the passive management of Executive’s personal investments, so long as such activities do not materially detract from Executive’s ability to perform his duties
under this Agreement or otherwise violate the provisions of this Agreement. Without limiting the foregoing, in the event that Executive desires to participate personally in any business opportunity that is reasonably related to the Company’s or
any of its Subsidiaries’ business, Executive shall not participate in such opportunity without first making full disclosure to the Board of such opportunity and the scope of Executive’s proposed involvement. 

ARTICLE III 
 TERMS
OF EMPLOYMENT 
 3.1    Employment Period. Unless sooner terminated pursuant to the terms and
conditions of this Agreement, Executive’s employment pursuant to this Agreement shall commence on the Effective Date and end on the third anniversary of the Effective Date (the “Initial Period”); provided,
however, that on the third anniversary of the Effective Date and on each subsequent anniversary date (each such date, an “Extension Date”), if Executive’s employment under this Agreement has not been terminated pursuant
to Article IV, the Term of this Agreement shall automatically extend for an additional year unless on or before the date that is ninety (90) days prior to an Extension Date, the Company or Executive provides the other party hereto written
notice (a “Notice of Non-Renewal”) that the Term will not be so extended. The Initial Period and any automatic extension of this Agreement pursuant to this Section 3.1 is collectively
referred to herein as the “Term”. 

  
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 3.2    Annualized Base Compensation. As compensation for
services rendered under this Agreement, Executive shall be entitled to receive from the Company a minimum annualized base salary (before tax withholdings and other deductions) of $325,000.00 (“Base Salary”). Executive’s Base
Salary shall be reviewed by the Board on an annual basis and, in the Board’s discretion, may be increased. Executive’s Base Salary shall be payable in arrears at regular intervals (but no less frequently than monthly) in accordance with
the prevailing practice and policies of the Company as may exist from time to time. 

3.3    Bonuses. 

(a)    Annual Bonus. Executive shall be eligible to receive an annual bonus (“Annual
Bonus”) for each full calendar year beginning on or after January 1, 2017 that he is employed with the Company during the Term (each such calendar year, a “Bonus Year”) in which the Company achieves certain targets as
set forth by the Compensation Committee of the Board (the “Compensation Committee”), and the target amount of such bonus shall (assuming all performance targets are met or exceeded) be 75% of Executive’s Base Salary for the
applicable Bonus Year; provided that Executive shall not be entitled to an Annual Bonus for any Bonus Year, unless the Compensation Committee determines otherwise, in which the Company does not achieve such targets, as determined by the
Compensation Committee; and provided further, that Executive shall not be entitled to any Annual Bonus if Executive’s employment is terminated by the Company for Cause prior to the date of payment of such Annual Bonus and, subject to the
exceptions set forth in Sections 4.3(b)(ii), 4.3(c)(ii), and 4.3(d)(iii) Executive shall not be entitled to any Annual Bonus if Executive is not employed by the Company on the date the Compensation Committee
determines annual bonuses for executive officers of the Company. The Compensation Committee may, in its sole discretion, determine that up to 50% of the value of any Annual Bonus shall be paid in stock of the Company (as determined by the
Compensation Committee) and the remainder of such Annual Bonus shall be paid in cash. Each Bonus Year during the Term, the Compensation Committee will review the structure of the targets provided by it for the preceding Bonus Year and establish the
targets for the Bonus Year as it deems appropriate. 
 3.4    Benefits. The Company agrees to
provide Executive and Executive’s eligible family members with the employment benefits that the Company ordinarily provides to similarly situated employees, subject to the terms and conditions of the applicable benefit programs and plans.
Executive and Executive’s family members shall be eligible to participate in any and all employee benefit plans (including, but not limited to, medical and dental insurance, retirement plans, disability insurance and life insurance) implemented
by the Company from time to time for its executive employees and their families. Such employment benefits shall be governed by the applicable plan documents, insurance policies, and/or employment policies, and may be modified, suspended, or revoked
in accordance with the terms of the applicable documents or policies. In addition to such benefits, the Company agrees to provide, or cause to be provided, the following benefits upon satisfaction by Executive of any eligibility requirements,
subject to the following limitations: 
 (a)    Sick-Leave Benefits and Disability Insurance. To
the extent made available to other employees of the Company, and unless Executive’s employment under this Agreement is terminated pursuant to Article IV, Executive shall be paid sick leave benefits at his then
prevailing Base Salary rate during his absence due to illness or other incapacity; provided, however, that any sick-leave benefits will be 

  
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reduced by the amount, if any, of workers’ compensation, Social Security entitlement, and/or disability benefits, if any, paid or provided to Executive in connection with such illness or
incapacity. 
 (b)    Vacations. The Company shall provide Executive with vacation consistent with
Company policy, but not less than twenty (20) business days paid vacation per calendar year during his employment under this Agreement (“Vacation Days”), which Vacation Days shall accrue and be used pursuant to the
Company’s vacation policies as may exist from time to time. 
 3.5    Equity Incentives. As a
long-term incentive, Executive shall be eligible to receive long-term equity compensation awards as determined by the Compensation Committee. The amount of such equity compensation award shall be determined by the Compensation Committee and shall
equal a target of 100% of Executive’s then effective Base Salary, subject to the sole discretion of the Compensation Committee. All such equity compensation awards, if any, shall be subject to the terms and conditions determined by the
Compensation Committee and the award agreements pursuant to which they are granted, as modified by this Agreement. 

3.6    Other Benefits. 

(a)    Perquisites. During the Term, Executive shall be entitled to fringe benefits and perquisites
as determined from time to time by the Company, which shall include provision for an automobile (or, if applicable, automobile allowance) for Executive’s business and personal use, and related insurance coverage, which is commensurate with
Executive’s position, title and duties with the Company, as determined by the Company from time to time and subject to all applicable benefit and insurance policies, terms and conditions. 

(b)    Reimbursement of Business Expenses. Executive is authorized to incur ordinary, necessary, and
reasonable business expenses in connection with the performance of his duties, responsibilities, and authorities under this Agreement and for the promotion of the Company’s business and activities during this Agreement, including but not
limited to expenses for necessary travel and entertainment and other items of expense required in the normal and routine course of Executive’s employment under this Agreement. The Company will reimburse Executive from time to time for all such
business expenses actually incurred pursuant to and in conformity with this paragraph and the policies and practices of the Company then in effect relative to the reimbursement of business expenses. 

ARTICLE IV 

TERMINATION 

4.1    Termination of Employment. 

(a)    Termination by the Company for Cause. The Company may terminate Executive’s employment
under this Agreement at any time, without any further liability to Executive, for Cause. If the Company believes Cause exists for terminating Executive’s employment under this Agreement pursuant to this paragraph, it shall give Executive
written notice of the acts or omissions constituting Cause in its Notice of Termination and Executive’s employment under this 

  
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Agreement shall terminate immediately upon provision of such notice; provided, however, that if such acts or omissions are of the type described in
Section 1.1(e)(i), (iii) or (iv), no termination of Executive’s employment under this Agreement for Cause shall be effective unless and until Executive fails to cure such acts or omissions, if curable (as
determined by the Company in its reasonable discretion), within thirty (30) days after receiving such notice. 

(b)    Termination by the Company without Cause or by Executive. The Company may terminate
Executive’s employment under this Agreement without Cause, and Executive may terminate Executive’s employment under this Agreement for any reason, or no reason whatsoever. Any termination of Executive’s employment by Executive shall
be made by the provision of at least thirty (30) days’ prior written notice to the Company in accordance with Section 4.2. Any termination of Executive’s employment by the Company without Cause shall be made
by the provision of at least fourteen (14) days’ prior written notice to Executive in accordance with Section 4.2. 

(c)    Change of Control Termination. A termination of Executive’s employment by the Company
without Cause in any case during a Protected Period following a Change of Control, will entitle Executive to the benefits specified in Section 4.3(c). 

(d)    Termination on Death or Permanent Disability. Executive’s employment under this
Agreement shall automatically terminate on Executive’s death or upon the provision to Executive of notice of the Company’s determination of his Permanent Disability. 

4.2    Notice of Termination. Any termination of Executive’s employment by the Company or
Executive pursuant to Section 4.1 (other than upon his death) shall be communicated by a “Notice of Termination” to the other party hereto. 

4.3    Obligations of the Company Upon Termination. 

(a)    Termination by the Company for Cause or by Executive. If the Company terminates
Executive’s employment for Cause or if Executive resigns his employment for any reason, or no reason whatsoever, Executive shall be entitled only to the payment of (i) the Accrued Obligation and (ii) unreimbursed business expenses.

 (b)    Termination by the Company without Cause (Not in Connection with a Death or Permanent
Disability). If, at any time other than during a Protected Period, the Company terminates Executive’s employment during the Term without Cause, and such termination is not due to Executive’s death or Permanent Disability, then
Executive shall be entitled to receive (i) payment of the Accrued Obligation and any unreimbursed business expenses and (ii) subject to the satisfaction of any applicable performance targets, as described in
Section 3.3, any of Executive’s earned but unpaid Bonuses with respect to a previous calendar year completed prior to the Date of Termination (without regard to any requirement that Executive remain employed through
the date of determination of such Bonuses). In addition, subject to Executive’s (x) delivery to the Company by the Release Expiration Date (and non-revocation in any time provided to do so) of an
executed release of claims against the Company and its affiliates in substantially the form attached hereto as Exhibit “B” 

  
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(the “Release”) and (y) compliance with Articles V, VI, and VII, Executive shall also be entitled to receive: 

(1)    a lump sum payment of an amount equal to one (1) times the sum of (A) the annualized rate
of Executive’s Base Salary as in effect on the Date of Termination and (B) Executive’s target Annual Bonus for the calendar year in which the Date of Termination occurs; and 

(2)    a lump sum payment of an amount equal to all Consolidated Omnibus Budget Reconciliation Act of 1985,
as amended (“COBRA”), premiums that would be payable during the period beginning on the Date of Termination and ending on the date that is 18 months after the Date of Termination, assuming Executive and his dependents who were
enrolled in the Company’s group health plans as of the Date of Termination elected continuation coverage under the Company’s group health plans as in effect, and at the applicable COBRA rates, as of the Date of Termination, without regard
to whether Executive and his dependents actually elected such coverage or whether actual COBRA coverage is applicable for the above-referenced time period. 

(c)    Change of Control Termination. If, during a Protected Period, the Company terminates
Executive’s employment during the Term without Cause, then Executive shall be entitled to receive (i) payment of the Accrued Obligation and any unreimbursed business expenses and (ii) subject to the satisfaction of any applicable
performance targets, as described in Section 3.3, any of Executive’s earned but unpaid Bonuses with respect to a previous calendar year completed prior to the Date of Termination (without regard to any requirement that
Executive remain employed through the date of determination of such Bonuses). In addition, subject to Executive’s (x) delivery to the Company by the Release Expiration Date (and non-revocation in any
time provided to do so) of an executed Release and (y) compliance with Articles V, VI, and VII, Executive shall also be entitled to receive: 

(1)    a lump sum payment of an amount equal to one (1) times the sum of (A) the annualized rate
of Executive’s Base Salary as in effect on the Date of Termination and (B) Executive’s target Annual Bonus for the calendar year in which the Date of Termination occurs; and 

(2)    a lump sum payment of an amount equal to all COBRA premiums that would be payable during the period
beginning on the Date of Termination and ending on the date that is three (3) years after the Date of Termination, assuming Executive and his dependents who were enrolled in the Company’s group health plans as of the Date of Termination
elected continuation coverage under the Company’s group health plans as in effect, and at the applicable COBRA rates, as of the Date of Termination, without regard to whether Executive and his dependents actually elected such coverage or
whether actual COBRA coverage is applicable for the above-referenced time period. 

(d)    Termination on Death or Permanent Disability. If Executive’s employment is terminated by
reason of Executive’s death or Permanent Disability during the Term, the Company shall have no further obligations to Executive, other 

  
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than for (i) payment of the Accrued Obligation, (ii) payment of any unreimbursed business expenses; (iii) subject to the satisfaction of any applicable performance targets, as
described in Section 3.3, any of Executive’s earned but unpaid Bonuses with respect to a previous calendar year completed prior to the Date of Termination (without regard to any requirement that Executive remain
employed through the date of determination of such Bonuses), and (iv) the timely payment or provision of any and all benefit obligations provided under Section 3.4, which under their terms are available in the event of
Executive’s death or Permanent Disability. 
 4.4    Payment Timing. Except as otherwise
provided in Section 10.13, the Company shall pay Executive the amounts specified in Sections 4.3(a), 4.3(b)(i), 4.3(c)(i) and (ii), and 4.3(d)(i) and (ii), in
each case, within forty-five (45) days after the Date of Termination. In addition, subject to Executive’s timely execution and non-revocation of the Release and compliance with
Articles V, VI and VII, the Company shall pay Executive the amounts specified in Sections 4.3(b)(ii), 4.3(b)(ii)(1), 4.3(b)(ii)(2), 4.3(c)(ii), 4.3(c)(ii)(1),
4.3(c)(ii)(2), 4.3(e)(iii) or 4.3(e)(v), as applicable, on the date that is sixty (60) days after the Date of Termination, subject in each case to Section 10.13(g), as applicable. 

4.5    Limitations on Severance Payment and Other Payments or Benefits. 

(a)    Limitation on Payments. Notwithstanding any provision of this Agreement, if any portion of
the payments or benefits under this Agreement, or under any other agreement with Executive or plan of the Company or its affiliates (in the aggregate, “Total Payments”), would constitute an “excess parachute payment” and
would, but for this Section 4.5, result in the imposition on Executive of an excise tax under Section 4999 of the Code (the “Excise Tax”), then the Total Payments to be made to Executive shall either
be (i) delivered in full, or (ii) delivered in such reduced amount in the manner determined in accordance with Section 4.5(b) so that no portion of such Total Payments would be subject to the Excise Tax, whichever
of the foregoing results in the receipt by Executive of the greatest benefit on an after-tax basis (taking into account the applicable federal, state and local income taxes and the Excise Tax). 

(b)    Determination of Limit. Within forty (40) days following a Date of Termination or notice
by one party to the other of its belief that there is a payment or benefit due Executive that would result in an excess parachute payment, Executive and the Company, at the Company’s expense, shall obtain the opinion (which need not be
unqualified) of a nationally recognized accounting firm or tax counsel (the “National Advisor”) selected by the Company (which may be regular accounting firm or outside counsel to the Company), which opinion sets forth (i) the
amount of the Base Period Income (as defined below), (ii) the amount and present value of the Total Payments, (iii) the amount and present value of any excess parachute payments determined without regard to any reduction of Total Payments
pursuant to Section 4.3(a), and (iv) the net after-tax proceeds to Executive, taking into account applicable federal, state and local income taxes and the Excise Tax if
(x) the Total Payments were reduced in accordance with Section 4.5(a) and (y) the Total Payments were not so reduced. The opinion of the National Advisor shall be addressed to the Company and Executive and shall
be binding upon the Company and Executive. If such National Advisor’s opinion determines that Section 4.5(a)(ii) applies, then the Agreement Benefits (as defined below) hereunder or any other payment or benefit
determined by such counsel to be includable in Total Payments shall be reduced or 

  
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eliminated so that, under the bases of calculations set forth in such opinion, there will be no excess parachute payment. In such event, payments or benefits included in the Total Payments shall
be reduced or eliminated by applying the following principles, in order: (1) the payment or benefit with the higher ratio of the parachute payment value to present economic value (determined using reasonable actuarial assumptions) shall be
reduced or eliminated before a payment or benefit with a lower ratio; (2) the payment or benefit with the later possible payment date shall be reduced or eliminated before a payment or benefit with an earlier payment date; and (3) cash
payments shall be reduced prior to non-cash benefits; provided that if the foregoing order of reduction or elimination would violate Section 409A, then the reduction shall be made pro rata among
the payments or benefits included in the Total Payments (on the basis of the relative present value of the parachute payments). 

(c)    Definitions and Assumptions. For purposes of this Agreement: (i) the terms “excess
parachute payment” and “parachute payments” shall have the meanings assigned to them in Section 280G of the Code, and such “parachute payments” shall be valued as provided therein; (ii) present value shall be
calculated in accordance with Section 280G(d)(4) of the Code; (iii) the term “Base Period Income” means an amount equal to Executive’s “annualized includible compensation for the base period” as defined in
Section 280G(d)(1) of the Code; (iv) “Agreement Benefits” shall mean the payments and benefits to be paid or provided pursuant to this Agreement; (v) for purposes of the opinion of the National Advisor, the value of
any noncash benefits or any deferred payment or benefit shall be determined by the Company’s independent auditors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code, which determination shall be evidenced in
a certificate of such auditors addressed to the Company and Executive; and (vi) Executive shall be deemed to pay federal income tax and employment taxes at the highest marginal rate of federal income and employment taxation, and state and local
income taxes at the highest marginal rate of taxation in the state or locality of Executive’s domicile (determined in both cases in the calendar year in which the Date of Termination occurs or the notice described in
Section 4.5(b) above is given, whichever is earlier), net of the maximum reduction in federal income taxes that may be obtained from the deduction of such state and local taxes. 

(d)    Reasonableness of Compensation. The Company agrees that it shall instruct the National
Advisor to take into account the value of any reasonable compensation for services to be rendered by the Executive in connection with making determinations with respect to Section 280G and/or Section 4999 of the Code, including the non-competition provisions applicable to Executive under Article VII and any other non-competition provisions that may apply to Executive. The
Company agrees to fully cooperate in the valuation of any such services, including any non-competition provisions, and agrees to retain, at the Company’s expense, a recognized valuation firm to make a
determination of the value of the non-competition provisions. If the National Advisor so requests in connection with the opinion required by this Section 4.5, Executive and the
Company shall obtain, at the Company’s expense, and the National Advisor may rely on, the advice of a firm of recognized executive compensation consultants as to the reasonableness of any item of compensation to be received by Executive solely
with respect to its status under Section 280G of the Code. 

  
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 (e)    Changes to Sections of the Code. This
Section 4.5 shall be amended to comply with any amendment or successor provision to Sections 280G or 4999 of the Code. If such provisions are repealed without successor, then this Section 4.5
shall be cancelled without further effect. 
 4.6    Resignation Upon Termination. Upon any
termination of Executive’s employment with the Company, and without further action on the part of Executive, Executive shall be deemed to have resigned from each directorship and other office or position of authority Executive may hold with the
Company or any of its direct or indirect subsidiary business entities. 
 ARTICLE V 

CONFIDENTIAL INFORMATION AND NONCOMPETITION 

5.1    Confidential Information. The Company promises and Executive acknowledges that Executive will
receive new confidential information in Executives new position with Company. For the purposes of Articles V, VI, VII, VIII and IX, the “Company” shall be deemed to include the Company
and each of its Subsidiaries. 
 5.2    Scope of Confidential Information. Executive acknowledges
that the Company has developed, and will during the term of Executive’s employment continue to develop, substantial, confidential, competitively valuable information and other intangible or “intellectual property” in connection with
its business, some or all of which is proprietary to the Company or another member of the Company Group (collectively, the “Confidential Information”). Without limiting the generality of the preceding sentence, Executive expressly
recognizes and agrees that, subject to the remainder of this Section 5.2, the following items, and all copies, summaries, extracts or derivative works thereof, are entitled to trade secret protection and constitute
Confidential Information under this Agreement, whether developed prior to the date hereof or thereafter, and whether with the assistance of Executive or otherwise: (i) the Company’s proprietary computer software, databases and lists of
customers, prospects, candidates, and employees; employee applications; skills inventory sheets and similar summaries of employee qualifications, as well as employee compensation; customer ordering habits, billing rates, buying preferences, and
short term needs; sales reports and analysis; (ii) employee reports and analysis; customer job orders and profit margin data; businesses processes, methods of operation and sales techniques; (iii) statistical information regarding the
Company; (iv) financial information of the Company and its customers that is not publicly available; (v) specially negotiated terms and pricing with vendors and customers; (vi) research and development, business projects, strategic
business plans, and strategies; products and solution services offered to customers; and (vii) any other non-public information of the Company that gives the Company a competitive advantage by virtue of
it not being generally known. Notwithstanding the foregoing, the Confidential Information shall not include (a) any information which is or becomes publicly available, other than as a result of the wrongful action of Executive or his agents;
(b) any information independently developed by Executive subsequent to the Date of Termination; (c) any information made available to Executive following the termination of Executive’s employment from a third party not known by
Executive to be under binder of confidentiality to the Company with regard thereto or (d) any information as to which the Company specifically waives its rights hereunder pursuant to an instrument in writing. 

  
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 5.3    Agreement to Provide Confidential Information to
Executive. The Company promises to provide some or all of the Confidential Information described above to Executive, without regard to the duration of his continued employment with the Company. Executive agrees that the Confidential
Information belongs to the Company, is subject to the terms of this Agreement, and is not his property. 

5.4    Works Made for Hire. Executive recognizes and agrees that all original works of authorship,
and all inventions, discoveries, improvements and other results of creative thinking or discovery by Executive during the term of Executive’s employment, whether the result of individual efforts or in acts in concert with others, arising in the
scope of Executive’s employment, utilizing in any way any of the Confidential Information or Company property, or otherwise relating to the Company’s business, are and shall be “works made for hire” within the meaning of the
United States copyright laws, to the extent applicable thereto, and in all events shall be the sole and exclusive property of the Company (collectively, the “Created Works”). Without limiting the generality of the foregoing, the
Created Works shall include all computer software, written materials, business processes, compilations, programs, improvements, inventions, notes, copyrightable works made, fixed, conceived, or acquired by Executive in the scope of Executive’s
employment, utilizing in any way any of the Confidential Information, or otherwise relating to the Company’s business. No part of the definition of Created Works is intended to exclude the Created Works from being included among the items
constituting Confidential Information. 
 5.5    Agreement to Return Confidential Information and Company
Property. At any time during employment, upon demand by the Company, and within five (5) days of the termination of Executive’s employment for any reason, regardless of which party initiates such termination, Executive shall return
all property of the Company to the Company, including but not limited to all computer files and other electronically stored information and all copies of all or any part of the Confidential Information or any summaries, extracts or derivative works
thereof, in good condition. Such property includes but is not limited to any Confidential Information, including but not limited to Created Works constituting Confidential Information, and any of the Company’s tools of trade. 

5.6    Assignment of Created Works. Executive hereby fully assigns to the Company all of his right,
title and interest in and to the Created Works and all aspects thereof, including without limitation all rights to renewals, extensions, causes of action, reproduce, prepare derivative works, distribute, display, perform, transfer, make, use and
sell. Executive will, from time to time during the term of this Agreement and thereafter, and at any time upon the request of the Company, execute and deliver any documents, agreements, certificates or other instruments affirming, giving effect to
or otherwise perfecting the Company’s rights in the Created Works and will provide such cooperation as the Company shall reasonably request in connection with the protection, exploitation or perfection of its rights therein anywhere in the
world. 
 5.7    Power of Attorney. If the Company is unable, after reasonable effort, to secure
Executive’s signature on any application for patent, copyright, trademark or other analogous registration or other documents regarding any legal protection relating to a Created Work, whether because of Executive’s physical or mental
incapacity or for any other reason whatsoever, Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as his or her agent and
attorney-in-fact, to act for and in Executive’s behalf and stead to execute and file any such application or applications or other documents and to do all other
lawfully permitted acts to further the prosecution and issuance of patent, copyright or trademark registrations or any other legal protection thereon with the same legal force and effect as if executed by Executive. 

  
 12 

 5.8    Disclosure of Inventions. Executive will promptly
and without reservation fully disclose any Created Works to the Company both during the term of employment and thereafter. 

ARTICLE VI 
 NON-DISCLOSURE 

6.1    Non-Disclosure. 

(a)    General Duty. Executive agrees that he will not directly or indirectly use any Confidential
Information, including without limitation the Company’s proprietary information, trade secrets or the Created Works, for his own benefit or for the benefit of any third party or for any purpose other than the benefit of the Company. Except as
permitted pursuant to Section 6.1(b) hereof, Executive agrees that he will not directly or indirectly disclose any Confidential Information, including, without limitation, the Company’s proprietary information, trade secrets, or the
Created Works, to any person or entity who is not an employee of the Company unless previously authorized to do so by the Company. Employee shall follow all Company Group policies and protocols regarding the physical and digital security of all
documents and other material containing Confidential Information (regardless of the medium on which such Confidential Information is stored). The covenants Executive makes in this Section 6.1(b) shall apply to all Confidential Information,
whether now known or later to become known to Executive during the period that Executive is employed or affiliated with the Company or any other member of the Company Group 

(b)    Special Exceptions, Permitted Disclosures. Nothing herein shall be construed to prevent
disclosure of Confidential Information as may be required by applicable law, regulation, or order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required
by such law, regulation, or order. Further, nothing herein shall prevent Executive from making a good faith report of possible violations of applicable law to any governmental agency or entity or making disclosures that are protected under the
whistleblower provisions of applicable law, and Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is: (A) made (x) in confidence to a federal, state or
local government official, either directly or indirectly, or to an attorney, and (y) solely for the purpose of reporting or investigating a suspected violation of law; (B) made in a complaint or other document filed in a lawsuit or other
proceeding, if such filing is made under seal; or (C) protected under the whistleblower provisions of applicable law. In the event Executive files a lawsuit for retaliation by the Company or another member of the Company Group for
Executive’s reporting of a suspected violation of law, Executive may (i) disclose a trade secret to Executive’s attorney and (ii) use the trade secret information in the court proceeding related to such lawsuit, in each case, if
Executive (A) files any document containing such trade secret under seal; and (B) does not otherwise disclose such trade secret, except pursuant to court order. For the avoidance of doubt, nothing herein or any other agreement between
Executive and any member of the Company Group shall prevent Executive from lawfully, and without obtaining prior authorization from the Company or any other member of the Company Group: (i) initiating communications directly with, cooperating
with, providing information to, causing information to be provided to, or otherwise 

  
 13 

 
assisting in an investigation by the U.S. Securities and Exchange Commission (the “SEC”) or any other governmental or regulatory agency, entity, or official(s) (collectively,
“Governmental Authorities”) regarding a possible violation of any law; (ii) responding to any inquiry or legal process directed to an employee individually from any Governmental Authority; (iii) testifying, participating or
otherwise assisting in an action or proceeding by any Governmental Authorities relating to a possible violation of law, including providing documents or other confidential information to Governmental Authorities; or (iv) receiving an award for
information provided to the SEC or any other Governmental Authority. This Agreement shall not be construed or applied to require Employee to obtain prior authorization from the Company or any other member of the Company Group before engaging in any
of the foregoing conduct referenced in this Section 6.1(b), or to notify the Company or any other member of the Company Group of having engaged in any such conduct. 

6.2    Nature of Business. 

(a)    Acknowledgment of Competitive Business. Executive acknowledges and agrees that the Company is
engaged in a highly competitive industry and must protect its Confidential Information against unauthorized use or disclosure that would irreparably harm the Company’s interests. Executive recognizes that the disclosure by the Company to
Executive of certain of its Confidential Information will be necessary and useful to Executive in the performance of his job duties for the Company under this Agreement. As a result, Executive will have access to Confidential Information that could
be used by the Company’s competitors in a manner which would irreparably harm the Company’s competitive position in the marketplace. 

(b)    Acknowledgment of Need for Protection. Executive further acknowledges and agrees that it
would be virtually impossible for Executive to ignore all knowledge of the Company’s Confidential Information if he were to engage in competition with the Company. It is, therefore, reasonable and proper for the Company to protect against the
intentional or inadvertent use of such Confidential Information. Accordingly, Executive agrees that restrictions on competition and soliciting the Company’s customers or employees during his employment under this Agreement and for a reasonable
period of time thereafter are appropriate and necessary for the protection of the Company’s Confidential Information, goodwill, and other legitimate business interests. 

ARTICLE VII 
 NON-SOLICITATION AND NON-COMPETITION 

7.1    Non-Solicitation and
Non-Competition. Ancillary to the agreements to provide Executive with the Confidential Information as set forth above, and in order to aid in the enforcement of those agreements, Executive agrees
that, during the Term and for a period of two (2) years after the termination of Executive’s employment with the Company (or, in the event Executive is entitled to the payments and benefits described in
Section 4.3(c) for a period of one (1) year after termination of Executive’s employment with the Company) (as applicable, the “Prohibited Period”), he will: 

(a)    refrain from carrying on or engaging in the Business in the Restricted Area. Executive agrees and
covenants that, because the following conduct would effectively constitute carrying on or engaging in the Business, he will not, and he will 

  
 14 

 
cause his affiliates not to, in the Restricted Area during the Prohibited Period: directly or indirectly, own, manage, operate, join, become an employee of, control or participate in or be
connected with any business, individual, partnership, firm, corporation or other entity which engages in the Business; 

(b)    refrain from, and cause his affiliates to refrain from, soliciting or causing to be solicited any
customer of the Company that was a customer of the Company in the Restricted Area during the period when Executive was employed by the Company; and 

(c)    refrain from, and cause his affiliates to refrain from, engaging or employing or soliciting or
contacting with a view to the engagement or employment of, any person who is an officer or employee of the Company. 

7.2    Exception for Equity Ownership. Notwithstanding the restrictions contained in
Section 7.1, Executive or any of his affiliates may own (i) less than five percent (5%) of any equity security registered under the Exchange Act, in any entity engaged in the Business, provided that neither
Executive nor his affiliates has the power, directly or indirectly, to control or direct the management or affairs of any such entity and is not involved in the management of such entity, and (ii) those equity investments owned by Executive as
of the date of this Agreement as previously disclosed to and agreed by the Board. 
 7.3    Exception
Within Oklahoma. Notwithstanding the restrictions contained in Section 7.1, within those areas of the State of Oklahoma that are within the Restricted Area (the “Oklahoma Restricted Area”),
Executive shall be permitted to engage in the Business after his employment with the Company has ended but before the Prohibited Period has expired; provided, however, that at no point during the Prohibited Period shall Executive,
within the Oklahoma Restricted Area, solicit the goods, services or a combination of goods and services from any established customer of the Company. 

ARTICLE VIII 

SURVIVAL OF COVENANTS, ENFORCEMENT OF COVENANTS AND REMEDIES 

8.1    Survival of Covenants. Executive acknowledges and agrees that his covenants in
Articles V, VI and VII, and those provisions necessary to interpret and enforce them, shall survive the termination of this Agreement, and the existence of any claim or cause of action of Executive against the
Company whether predicated on this Agreement or otherwise shall not constitute a defense to the enforcement by the Company of those covenants. 

8.2    Enforcement of Covenants. Executive acknowledges and agrees that his covenants in
Articles V, VI and VII are, among other things, ancillary to the otherwise enforceable agreements to provide Executive with Confidential Information and are supported by independent, valuable consideration.
Executive further acknowledges and agrees that the limitations as to time, geographical area, and scope of activity to be restrained by those covenants are reasonable and acceptable to Executive in all respects and do not impose any greater
restraint than is reasonably necessary to protect the Company’s goodwill and other legitimate business interests. Executive further agrees that if, at some later date, a court of competent jurisdiction determines that any of the covenants in
Articles V, VI or VII are unreasonable, any such covenants shall be reformed by the court and enforced to the maximum extent permitted under the law. 

  
 15 

 8.3    Remedies. In the event of actual or threatened
breach by Executive of any of his covenants in Articles V, VI, and VII, the Company shall be entitled to equitable relief by temporary restraining order, temporary injunction, or permanent injunction or
otherwise, in addition to all other legal and equitable relief to which it may be entitled, including but not limited to any and all monetary damages that the Company may incur as a result of said breach, violation, or threatened breach or
violation. For the avoidance of doubt, nothing shall restrict the Company from pursuing any relief otherwise provided for by this Agreement. The Company may pursue any remedy available to it concurrently or consecutively in any order as to any
breach, violation, or threatened breach or violation, and the pursuit of one of such remedies at any time will not be deemed an election of remedies or waiver of the right to pursue any other of such remedies as to such breach, violation, or
threatened breach or violation, or as to any other breach, violation, or threatened breach or violation. In addition to the above, in the event that a final judicial determination concludes that Executive has materially breached any of his covenants
in Articles V, VI or VII, the Company will be entitled to reimbursement by Executive of all cash severance payments paid by the Company under Section 4.3(b)(ii)(1),
Section 4.3(b)(ii)(2), Section 4.3(c)(ii)(1), or Section 4.3(c)(ii)(2), as applicable, of this Agreement during the period of any such breach. In the event of an alleged
actual material breach by Executive of any of his covenants in Articles V, VI or VII, as determined in good faith by the Board, the Company may suspend the payments of cash severance then owing to Executive
under Section 4.3(b)(ii)(1), Section 4.3(b)(ii)(2), Section 4.3(c)(ii)(1), or Section 4.3(c)(ii)(2), as applicable, of this Agreement without
resort to judicial intervention until such breach is cured (if curable); provided, however, that if it is later determined, whether judicially or otherwise by the Board, that Executive was not in material breach of such covenants, the
Company shall promptly pay to Executive all such suspended payments and benefits, as well as reimbursement of all reasonable costs and expenses (including but not limited to reasonable attorneys’ fees) incurred by Executive in defending any
such claim or action in accordance with Section 10.11; and provided further, however, that any cure and payments upon cure and any payments upon a judicial determination that no breach occurred will be made no later
than the deadline under Section 409A that is applicable to disputed payments and refusals to pay. 

8.4    Indemnification. In any situation where, under applicable law, the Company has the power to
indemnify, advance expenses to and defend Executive in respect of any judgments, fines, settlements, loss, cost or expense (including but not limited to attorneys’ fees) arising from bona fide claims of any nature related to or arising out of
Executive’s activities as an agent, employee, officer or director of the Company or in any other capacity on behalf of or at the request of the Company, then the Company shall promptly on written request, indemnify Executive, advance expenses
(including but not limited to reasonable attorneys’ fees) to Executive and defend Executive to the fullest extent permitted by applicable law, including but not limited to making such findings and determinations and taking any and all such
actions as the Company may, under applicable law, be permitted to have the discretion to take so as to effectuate such indemnification, advancement or defense. Such agreement by the Company shall not be deemed to impair any other obligation of the
Company respecting Executive’s indemnification or defense otherwise arising out of this or any other agreement or promise of the Company under any statute. 

  
 16 

 ARTICLE IX 

ANTI-CORRUPTION COMPLIANCE 

9.1    Compliance with Applicable Anti-Corruption Laws. Executive acknowledges and agrees that he
understands and will comply with all Applicable Anti-Corruption Laws, and will not, directly or indirectly, pay, offer, authorize or promise to pay or provide anything of value to any Government Official, political party, political party official or
political candidate, or to any other person or entity in order to influence an official act, omission or decision that will assist the Company or any other person or entity in obtaining or retaining business or in directing business to any other
person or entity for any purpose that violates the Applicable Anti-Corruption Laws or would cause the Company to be in violation of Applicable Anti-Corruption Laws. 

9.2    Compliance with Company Anti-Corruption Program. Executive acknowledges and agrees that he
will comply with the Company’s Anti-Corruption Compliance Program and Manual and Code of Business Conduct, including the Company’s annual anti-corruption training requirement, and further agrees to execute a compliance certification, as
periodically may be requested by the Company. 
 ARTICLE X 

MISCELLANEOUS 

10.1    Entire Agreement. This Agreement constitutes the entire agreement between the parties
concerning this Agreement’s subject matter and supersedes all prior agreements and understandings, both written and oral, between the parties with respect to its subject matter. 

10.2    Modification; Amendment. This Agreement may not be modified or amended in any respect except
by an instrument in writing signed by the party against whom such modification or amendment is sought to be enforced. No modification or amendment may be enforced against the Company unless such modification or amendment is in writing and authorized
by the Board. 
 10.3    No Waiver. The waiver by either party of a breach of any term of this
Agreement shall not operate or be construed as a waiver of a subsequent breach of the same provision by either party or of the breach of any other term or provision of this Agreement. 

10.4    Remedies; Governing Law; Jurisdiction. This Agreement and performance under it, and the
exclusive venue for all proceedings that may ensue from its breach, shall be in state or federal court, as applicable, in Harris County, Texas, and this Agreement shall be construed in accordance with the laws of the State of Texas. In the event of
a breach or threatened breach by either Executive or the Company of any provision of this Agreement, the non-breaching party shall be entitled to a temporary restraining order and an injunction restraining the
breaching party from the commission or threatened commission of such breach. Nothing in this Agreement, however, precludes the Company from seeking to remove a civil action from any state court to federal court. Nothing herein shall be construed as
prohibiting either Executive or the Company from pursuing any other remedies available to it for such breach or threatened breach, including but not limited to the recovery of money damages. 

  
 17 

 10.5    Executive’s Representations. Executive
represents and warrants that he is free to enter into this Agreement and to perform each of the terms and covenants of it. Executive represents and warrants that he is not restricted or prohibited, contractually or otherwise, from entering into and
performing this Agreement, and that his execution and performance of this Agreement is not a violation or breach of any other agreement between Executive and any other person or entity. Executive acknowledges and agrees that (a) he is not
relying upon any determination by the Company, its Subsidiaries or affiliates, or any of their respective employees, directors, officers, attorneys or agents (collectively, the “Company Parties”) regarding the tax effects associated
with Executive’s execution of this Agreement and (b) in deciding to enter into this Agreement, Executive is relying on his own judgment and the judgment of the professionals of his choice with whom he has consulted. Executive hereby
releases, acquits and forever discharges the Company Parties from all actions, causes of action, suits, debts, obligations, liabilities, claims, damages, losses, costs and expenses of any nature whatsoever, whether known or unknown, on account of or
arising out of, or in any way related to the tax effects associated with Executive’s execution of this Agreement. 

10.6    The Company’s Representations. The Company represents and warrants that it is free to
enter into this Agreement and to perform each of the terms and covenants of it. The Company represents and warrants that it is not restricted or prohibited, contractually or otherwise, from entering into and performing this Agreement, and that its
execution and performance of this Agreement is not a violation or breach of any other agreement between the Company and any other person or entity. The Company represents and warrants that this Agreement is a legal, valid and binding agreement of
the Company, enforceable in accordance with its terms. 
 10.7    Notices. All notices and other
communications under this Agreement shall be in writing and shall be given in person or by either personal delivery, facsimile with confirmation of receipt, overnight delivery, or first class mail, certified or registered with return receipt
requested, with postal or delivery charges prepaid, and shall be deemed to have been duly given when delivered personally, or three days after mailing first class, certified or registered with return receipt requested, (i) if to the Company, to
the Company’s headquarters, attention to the Executive Vice President, General Counsel & Corporate Secretary of the Company, and (ii) if to Executive, to Executive’s address on file in the Company’s records. 

10.8    Tax Withholding. The Company may withhold from any amounts payable under this Agreement such
federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

10.9    Severability. If any provision of this Agreement is held to be illegal, invalid, or
unenforceable, (a) this Agreement shall be considered divisible, (b) such provision shall be deemed inoperative to the extent it is deemed illegal, invalid, or unenforceable, and (c) in all other respects this Agreement shall remain
in full force and effect. 
 10.10    Assignment. The rights and obligations of the parties under
this Agreement shall be binding upon and inure to the benefit of their respective successors, assigns, executors, administrators and heirs; provided, however, that neither the Company nor Executive may assign any duties under this
Agreement without the prior written consent of the other. Notwithstanding the foregoing, the parties acknowledge that it is anticipated that Executive will be employed by a subsidiary of the Company, and the Company may assign

  
 18 

 
(in whole or in part) its rights and obligations under this Agreement to such entity without prior written consent of Executive; provided, however, that the Company shall remain
liable for all compensation obligations to Executive under this Agreement. 

10.11    Attorneys’ Fees and Other Costs. If either party breaches
this Agreement, or if a dispute arises between the parties based on or involving this Agreement, the party that prevails in the resolution of such dispute is entitled to recover from the other party its reasonable attorneys’ fees, court costs,
and expenses incurred in enforcing such rights or resolving such dispute. For purposes of this Section 10.11, the finder of fact shall be requested to answer affirmatively as to whether a party “prevailed” in
order to recoup attorneys’ fees and other costs pursuant to this Section 10.11. 

10.12    Counterparts. This Agreement may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute but one and the same instrument. 

10.13    Section 409A. 

(a)    General. Any compensation or benefits made to Executive under the terms of this Agreement may
constitute nonqualified deferred compensation for purposes of Section 409A. Accordingly, notwithstanding any provision contained herein, this Agreement shall be interpreted in a manner that is consistent with Section 409A. In the event
that any provision of this Agreement conflicts with Section 409A, such provision is to that extent superseded by the applicable Section 409A standards for nonqualified deferred compensation plans to satisfy the requirements of
Section 409A. 
 (b)    General Suspension of Payments. Notwithstanding any contrary
provisions in this Agreement, if Executive is a “specified employee,” as such term is defined within the meaning of Section 409A, as determined by policies established by the Board, any payments or benefits which are classified as
“nonqualified deferred compensation” for purposes of Section 409A and are payable or provided as a result of Executive’s termination of employment that would otherwise be paid or provided within six (6) months and one
(1) day of such termination (other than due to death or “disability”, as such term is defined within the meaning of Section 409A) shall instead be paid or provided on the earlier of (i) six (6) months and two
(2) days following Executive’s termination, (ii) the date of Executive’s death, or (iii) any date that otherwise complies with Section 409A. In the event that Executive is entitled to receive payments during the
suspension period provided under this Section 10.13(b), Executive shall receive the accumulated benefits that would have been paid or provided under this Agreement within the six (6) month and one (1) day
suspension period on the earliest day that would be permitted under Section 409A. 

(c)    Separation from Service. For all purposes of this Agreement, Executive’s employment with
the Company shall be considered to have terminated when Executive incurs a “separation from service” with the Company within the meaning of Section 409A; provided, however, that whether such a separation from service has
occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than twenty percent (20%) of the average level of bona fide services provided in the immediately
preceding thirty-six (36) months. 

  
 19 

 (d)    Reimbursement Payments. The following rules
shall apply to payments of any amounts under this Agreement that are treated as “reimbursement payments” under Section 409A, including, but not limited to, any payments provided under Section 4.3:
(i) the amount of expenses eligible for reimbursement in one calendar year shall not limit the available reimbursements for any other calendar year; (ii) Executive shall file a claim for all reimbursement payments not later than thirty
(30) days following the end of the calendar year during which the expenses were incurred, (iii) the Company shall make such reimbursement payments within thirty (30) days following the date Executive delivers written notice of the
expenses to the Company; and (iv) Executive’s right to such reimbursement payments shall not be subject to liquidation or exchange for any other payment or benefit. 

(e)    Separate Payments. For purposes of Section 409A, any right to a series of installment
payments under this Agreement shall be treated as a right to a series of separate payments so that each payment is designated as a separate payment for purposes of Section 409A, and any rights and benefits under this Agreement shall be treated
as rights to separate payments for purposes of Section 409A. 
 (f)    Amendment. In the
event that the Company determines that any amounts payable hereunder will be taxable to Executive under Section 409A prior to payment to Executive, then the Company may (i) adopt amendments to this Agreement, including but not limited to
amendments with retroactive effect, that the Company determines necessary or appropriate to preserve the intended tax treatment of the benefits provided hereunder and/or (ii) take such other actions as the Company determines necessary or
appropriate to avoid the imposition of tax under Section 409A. 
 (g)    Coordination with Prior
Employment Agreement. Notwithstanding any provision hereof to the contrary, with respect to payments to Executive pursuant to Sections 4.3(b)(ii)(1) or 4.3(c)(ii)(1), the amount of any such payments that would
have been paid in the form of installment payments pursuant to the employment agreement in effect between Executive and the Company’s predecessor immediately prior to the Effective Date shall instead be paid in installments over the same period
specified in such agreement to the extent necessary to comply with Section 409A, and the remaining amount of such payments shall be paid on the date that is sixty (60) days after the Date of Termination, subject to Executive’s
compliance with Articles V, VI and VII and timely execution and non-revocation of the Release. 

10.14    Prior Employment Agreement Superseded. Upon the Effective Date, any and all prior employment
agreements between the Company, its predecessors or any Subsidiary and Executive, shall be of no further force or effect, and this Agreement shall supersede all such prior agreements. 

10.15    Limitation. Subject to the termination provisions contained herein, this Agreement shall not
confer any right or impose any obligation on the Company or its Subsidiaries to continue the employment of Executive in any capacity or limit the right of the Company, its Subsidiaries, or Executive to terminate Executive’s employment. 

10.16    Third-Party Beneficiaries. Each Subsidiary shall be a third-party beneficiary of
Executive’s obligations under Articles V, VI, VII, VIII and IX, and shall be entitled to enforce such obligations as if a party hereto. 

  
 20 

 [Signature Page Follows] 

  
 21 

 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the day and
year indicated above. 
  

			
	COMPANY:
	
	C&J ENERGY SERVICES, INC.
	
	 /s/ Danielle Hunter

			
		
	Name:	 	 Danielle Hunter

		
	Title:	 	 Executive Vice President, General Counsel, Chief Risk and Compliance Officer and Corporate
Secretary

 
					
	
	EXECUTIVE:

 
					
		
		 	 /s/ Sterling Renshaw

					
			
		 	Name:	 	 Sterling Renshaw

  
 22 

 EXHIBIT A 

RESTRICTED AREA 
 Outside of the
United States: 
 Ecuador 
 Mexico 

Canada 
 Within the United States: 

State of Arkansas 
 State of California 

State of Colorado 
 State of Idaho 

State of Kansas 
 Louisiana Parishes of: 

Bienville 
 Bossier 

Caddo 
 Caldwell 

Claiborne 
 DeSoto 

Harrison 
 Jackson 

Lincoln 
 Natchitoches 

Red River 
 Sabine 

St. Helena 
 Webster 

Winn 
 State of Mississippi 

State of Montana 
 State of New York 

State of North Dakota 
 State of Ohio 

State of Oklahoma 
 State of Pennsylvania 

State of Texas 
 State of Utah 

State of West Virginia 
 State of Wyoming 

  
 A-1 

 EXHIBIT B 

WAIVER AND RELEASE 

Pursuant to the terms of the Employment Agreement between me and C&J Energy Service, Inc., dated August 15, 2017 (the
“Agreement”), and in exchange for the benefits provided in the Agreement to which I acknowledge I would not otherwise be fully entitled (the “Separation Benefits”), I hereby waive all claims against and release
(i) C&J Energy Service, Inc. and its directors, officers, employees, agents, insurers, predecessors, successors and assigns (collectively referred to as the “Company”), (ii) all of the affiliates (including all parent
companies and all wholly or partially owned subsidiaries) of the Company and their directors, officers, employees, agents, insurers, predecessors, successors and assigns (collectively referred to as the “Affiliates”), (iii) the
Company’s and its Affiliates’ employee benefit and incentive plans and the fiduciaries and agents of said plans (collectively referred to as the “Benefit Plans”); and (iv) the Company’s and its Affiliates’
equity incentive and equity investment plans and the fiduciaries and agents of said plans (collectively referred to as the “Equity Plans”) from any and all claims, demands, actions, liabilities and damages arising out of or relating
in any way to my employment with or separation from employment with the Company and its Affiliates other than benefits due pursuant to the Agreement and rights and benefits I am entitled to under the Benefit Plans or Equity Plans. (The Company, its
Affiliates, the Benefit Plans and the Equity Plans are sometimes hereinafter collectively referred to as the “Released Parties.”) 

I understand that signing this Waiver and Release is an important legal act. I acknowledge that I have been advised in writing to consult
an attorney before signing this Waiver and Release. I understand that, in order to be eligible for the Separation Benefits, I must sign (and return to the Company) this Waiver and Release before I will receive the Separation Benefits. I acknowledge
that I have been given at least twenty-one (21) days to consider whether to accept the Separation Benefits and whether to execute this Waiver and Release. 

In exchange for the Separation Benefits, (1) I agree not to sue in any local, state and/or federal court regarding or relating in any way
to my employment with or separation from employment with the Company and its Affiliates, and (2) I knowingly and voluntarily waive all claims and release the Released Parties from any and all claims, demands, actions, liabilities, and damages,
whether known or unknown, arising out of or relating in any way to my employment with or separation from employment with the Company and its Affiliates, except to the extent that my rights are vested under the terms of any employee benefit plans
sponsored by the Company and its Affiliates and except with respect to such rights or claims as may arise after the date this Waiver and Release is executed. This Waiver and Release includes, but is not limited to, claims and causes of action under:
Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act of 1967, as amended, including the Older Workers Benefit Protection Act of 1990; the Civil Rights Act of 1866, as amended; the Civil Rights Act of 1991;
the Americans with Disabilities Act of 1990; the Workers Adjustment and Retraining Notification Act of 1988; the Pregnancy Discrimination Act of 1978; the Employee Retirement Income Security Act of 1974, as amended; the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended; the Family and Medical Leave Act of 1993; the Fair Labor Standards Act; the Occupational Safety and Health Act; the Texas Labor Code §21.001 et. seq.; the Texas Labor Code; claims in connection with
workers’ compensation, retaliation 

  
 B-1 

 
or “whistle blower” statutes; and/or contract, tort, defamation, slander, wrongful termination or any other state or federal regulatory, statutory or common law. Further, I expressly
represent that no promise or agreement which is not expressed in this Waiver and Release has been made to me in executing this Waiver and Release, and that I am relying on my own judgment in executing this Waiver and Release, and that I am not
relying on any statement or representation of the Company or its Affiliates or any of their agents. I agree that this Waiver and Release is valid, fair, adequate and reasonable, is with my full knowledge and consent, was not procured through fraud,
duress or mistake and has not had the effect of misleading, misinforming or failing to inform me. I acknowledge and agree that the Company will withhold the minimum amount of any taxes required by federal or state law from the Separation Benefits
otherwise payable to me. 
 This Waiver and Release does not apply to any claims for unemployment compensation or any other claims or rights
which, by law, cannot be waived, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that I disclaim and waive any right to share or participate in
any monetary award resulting from the prosecution of such charge or investigation or proceeding. 
 Notwithstanding anything to the contrary
in this Waiver and Release, I do not release and expressly retain (a) all rights to indemnity, contribution, and a defense, and directors and officers and other liability coverage that I may have under any statute, the bylaws of the Company or
by other agreement; (b) the right to receive the Separation Benefits; and (c) the right to any, unpaid reasonable business expenses and any accrued benefits payable under any Company welfare plan or
tax-qualified plan or other Benefit Plans. 
 I acknowledge that the Company’s provision of the
Separation Benefits is not an admission by any one or more of the Released Parties that they engaged in any wrongful or unlawful act or that they violated any federal or state law or regulation. I acknowledge that neither the Company nor its
Affiliates have promised me continued employment or represented to me that I will be rehired in the future. I acknowledge that my employer and I contemplate an unequivocal, complete and final dissolution of my employment relationship. I acknowledge
that this Waiver and Release does not create any right on my part to be rehired by the Company or its Affiliates, and I hereby waive any right to future employment by the Company or its Affiliates. 

I understand that for a period of seven (7) calendar days following the date that I sign this Waiver and Release, I may revoke my
acceptance of this Waiver and Release, provided that my written statement of revocation is received on or before that seventh (7th) day by the Company’s General Counsel, in which case the Waiver and Release will not become effective. If
I timely revoke my acceptance of this Waiver and Release, the Company shall have no obligation to provide the Separation Benefits to me. I understand that failure to revoke my acceptance of the offer within seven (7) calendar days from the date
I sign this Waiver and Release will result in this Waiver and Release being permanent and irrevocable. 
 Should any of the provisions set
forth in this Waiver and Release be determined to be invalid by a court, agency or other tribunal of competent jurisdiction, it is agreed that such determination shall not affect the enforceability of other provisions of this Waiver and Release. I
acknowledge that this Waiver and Release sets forth the entire understanding and agreement between me and the Company and its Affiliates concerning the 

  
 B-2 

 
subject matter of this Waiver and Release and supersedes any prior or contemporaneous oral and/or written agreements or representations, if any, between me and the Company or its Affiliates. 

I acknowledge that I have read this Waiver and Release, have had an opportunity to ask questions and have it explained to me and that I
understand that this Waiver and Release will have the effect of knowingly and voluntarily waiving any action I might pursue, including but not limited to breach of contract, personal injury, retaliation, discrimination on the basis of race, age,
sex, national origin, or disability and any other claims arising prior to the date of this Waiver and Release. By execution of this document, I do not waive or release or otherwise relinquish any legal rights I may have which are attributable to or
arise out of acts, omissions, or events of the Company or its Affiliates which occur after the date of the execution of this Waiver and Release. 
  

 

			
	  
 Printed Name of Executive
	 	  
 Company’s
Representative

		
	  
 Signature
	 	  
 Company’s Execution
Date

		
	  
 Signature Date
	 	

  
 B-3ADMA BIOLOGICS, INC.

2014 OMNIBUS INCENTIVE COMPENSATION
PLAN

(as amended and restated on March 15,
2017)

 

Article 1.

Effective Date, Objectives and Duration

 

1.1 Effective Date of the Plan. ADMA
Biologics, Inc., a Delaware corporation (the “Company”), adopted the 2014 Omnibus Incentive Compensation Plan (the
“Plan”) on February 21, 2014 (the “Effective Date”), and the Plan was approved by the Company’s stockholders
on June 19, 2014. The Board approved the amendment and restatement of the Plan on March 15, 2017 (the “Amendment Effective
Date”), subject to approval by the Company’s stockholders. The terms of the Plan are set forth herein.

 

1.2 Objectives of the Plan. The Plan
is intended (a) to allow selected employees of and consultants to the Company and its Affiliates to acquire or increase equity
ownership in the Company, thereby strengthening their commitment to the success of the Company and stimulating their efforts on
behalf of the Company, and to assist the Company and its Affiliates in attracting new employees, officers and consultants and retaining
existing employees and consultants, (b) to provide annual cash incentive compensation opportunities that are competitive with those
of other peer corporations, (c) to optimize the profitability and growth of the Company and its Affiliates through incentives which
are consistent with the Company’s goals, (d) to provide Grantees with an incentive for excellence in individual performance,
(e) to promote teamwork among employees, consultants and Non-Employee Directors, and (f) to attract and retain highly qualified
persons to serve as Non-Employee Directors and to promote ownership by such Non-Employee Directors of a greater proprietary interest
in the Company, thereby aligning such Non-Employee Directors’ interests more closely with the interests of the Company’s
stockholders.

 

1.3 Duration of the Plan. The Plan
commenced on the Effective Date and shall remain in effect, subject to the right of the Board of Directors of the Company (“Board”)
to amend or terminate the Plan at any time pursuant to Article 12 hereof, until the earlier of February 21, 2023, or the date all
Shares subject to the Plan shall have been purchased or acquired and the restrictions on all Restricted Shares granted under the
Plan shall have lapsed, according to the Plan’s provisions.

 

Article 2.

Definitions

 

Whenever used in the Plan, the following
terms shall have the meanings set forth below:

 

2.1 “Affiliate” means
any corporation or other entity, including but not limited to partnerships, limited liability companies and joint ventures, with
respect to which the Company, directly or indirectly, owns as applicable (a) stock possessing more than fifty percent (50%) of
the total combined voting power of all classes of stock entitled to vote, or more than fifty percent (50%) of the total value of
all shares of all classes of stock of such corporation, or (b) an aggregate of more than fifty percent (50%) of the profits interest
or capital interest of a non-corporate entity. 

 

2.2 “Award” means Options
(including non-qualified options and Incentive Stock Options), SARs, Restricted Shares, Deferred Stock, Restricted Stock Units
or Other Stock-Based Awards granted under the Plan.

 

2.3 “Award Agreement”
means either (a) a written agreement entered into by the Company and a Grantee setting forth the terms and provisions applicable
to an Award granted under this Plan, or (b) a written statement issued by the Company to a Grantee describing the terms and provisions
of such Award, including any amendment or modification thereof. The Committee may provide for the use of electronic, internet or
other non-paper Award Agreements and the use of electronic, internet or other non-paper means for the acceptance thereof and actions
thereunder by the Grantee.

 

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

 

2.5 “CEO” means the Chief
Executive Officer of the Company.

 

2.6 “Code” means the
Internal Revenue Code of 1986, as amended from time to time. References to a particular section of the Code include references
to regulations and rulings thereunder and to successor provisions.

 

2.7 “Committee” or “Incentive
Plan Committee” has the meaning set forth in Section 3.1(a).

 

    

    

    

 

2.8 “Compensation Committee”
means the compensation committee of the Board.

 

2.9 “Common Stock” means
the common stock, without par value, of the Company.

 

2.10 “Covered Employee”
means a Grantee who, as of the last day of the fiscal year in which the value of an Award is recognizable as income for federal
income tax purposes, is a “covered employee,” within the meaning of Code Section 162(m), with respect to the Company.

 

2.11 “Deferred Stock”
means a right, granted under Article 9, to receive Shares at the end of a specified deferral period.

 

2.12 “Disability” or
“Disabled” means, unless otherwise defined in an Award Agreement, or as otherwise determined under procedures
established by the Committee for purposes of the Plan:

 

	 	(a)	Except as provided in (b) below, a disability within the meaning of Section 22(e)(3) of the Code; and

 

	 	(b)	In the case of any Award that constitutes deferred compensation within the meaning of Section 409A of the Code, a disability as defined in regulations under Code Section 409A. For purpose of Code Section 409A, a Grantee will be considered Disabled if:

  

	 	(i)	the Grantee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or

 

	 	(ii)	the Grantee is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Grantee’s employer.

 

2.13 “Dividend Equivalent”
means a right to receive payments equal to dividends or property, if and when paid or distributed, on a specified number of Shares.

 

2.14 “Effective Date”
and “Amendment Effective Date” have the meaning set forth in Section 1.1.

 

2.15 “Eligible Person”
means any employee (including any officer) of, or non-employee consultant to, or Non-Employee Director of, the Company or any Affiliate,
or potential employee (including a potential officer) of, or non-employee consultant to, the Company or an Affiliate; provided,
however, that solely with respect to the grant of an Incentive Stock Option, an Eligible Person shall be any employee (including
any officer) of the Company or any Subsidiary Corporation. Solely for purposes of Section 5.6(b), current or former employees or
non-employee directors of, or consultants to, an Acquired Entity who receive Substitute Awards in substitution for Acquired Entity
Awards shall be considered Eligible Persons under this Plan with respect to such Substitute Awards.

 

2.16 “Exchange Act” means
the Securities Exchange Act of 1934, as amended from time to time. References to a particular section of the Exchange Act include
references to successor provisions.

 

2.17 “Exercise Price”
means (a) with respect to an Option, the price at which a Share may be purchased by a Grantee pursuant to such Option or (b) with
respect to an SAR, the price established at the time an SAR is granted pursuant to Article 7, which is used to determine the amount,
if any, of the payment due to a Grantee upon exercise the SAR.

 

2.18 “Fair Market Value”
means a price that is based on the opening, closing, actual, high, low, or the arithmetic mean of selling prices of a Share reported
on the established stock exchange, which is the principal exchange upon which the Shares are traded on the applicable date or the
preceding trading day. Unless the Committee determines otherwise, if the Shares are traded over the counter at the time a determination
of its Fair Market Value is required to be made hereunder, Fair Market Value shall be deemed to be equal to the arithmetic mean
between the reported high and low or closing bid and asked prices of a Share on the applicable date, or if no such trades were
made that day then the most recent date on which Shares were publicly traded. In the event Shares are not publicly traded at the
time a determination of their value is required to be made hereunder, the determination of their Fair Market Value shall be made
by the Committee in such manner as it deems appropriate provided such manner is consistent with Treasury Regulation 1.409A-1(b)(5)(iv)(B).

 

    

    

    

 

2.19 “Grant Date” means
the date on which an Award is granted or such later date as specified in advance by the Committee.

 

2.20 “Grantee” means
a person who has been granted an Award.

 

2.21 “Incentive Stock Option”
means an Option that is intended to meet the requirements of Section 422 of the Code.

 

2.22 “Including” or “includes”
means “including, without limitation,” or “includes, without limitation,” respectively.

 

2.23 “Management Committee”
has the meaning set forth in Section 3.1(b).

 

2.24 “Non-Employee Director”
means a member of the Board who is not an employee of the Company or any Affiliate.

 

2.25 “Option” means an
option granted under Article 6 of the Plan.

 

2.26 “Other Stock-Based Award”
means a right, granted under Article 10 hereof, that relates to or is valued by reference to Shares or other Awards relating to
Shares.

 

2.27 “Performance-Based Exception”
means the performance-based exception from the tax deductibility limitations of Code Section 162(m) contained in Code Section 162(m)(4)(C)
(including the special provisions for options thereunder). Nothing in this Plan shall be construed to mean that an Award which
does not satisfy the requirements for performance-based compensation under Code Section 162(m) does not constitute performance-based
compensation for other purposes, including Code Section 409A.

 

2.28 “Performance Measures”
has the meaning set forth in Section 4.4.

 

2.29 “Performance Period”
means the time period during which performance goals must be met.

 

2.30 “Period of Restriction”
means the period during which Restricted Shares are subject to forfeiture if the conditions specified in the Award Agreement are
not satisfied.

 

2.31 “Person” means any
individual, sole proprietorship, partnership, joint venture, limited liability company, trust, unincorporated organization, association,
corporation, institution, public benefit corporation, entity, or government instrumentality, division, agency, body, or department.

 

2.32 “Restricted Shares”
means Shares, granted under Article 8, that are both subject to forfeiture and are nontransferable if the Grantee does not satisfy
the conditions specified in the Award Agreement applicable to such Shares.

 

2.33 “Restricted Stock Units”
are rights, granted under Article 9, to receive Shares if the Grantee satisfies the conditions specified in the Award Agreement
applicable to such rights.

 

2.34 “Rule 16b-3” means
Rule 16b-3 promulgated by the SEC under the Exchange Act, as amended from time to time, together with any successor rule.

 

2.35 “SEC” means the
United States Securities and Exchange Commission, or any successor thereto.

 

2.36 “Section 16 Non-Employee Director”
means a member of the Board who satisfies the requirements to qualify as a “non-employee director” under Rule 16b-3.

 

2.37 “Section 16 Person”
means a person who is subject to potential liability under Section 16(b) of the Exchange Act with respect to transactions involving
equity securities of the Company.

 

    

    

    

 

2.38 “Separation from Service”
means, with respect to any Award that constitutes deferred compensation within the meaning of Code Section 409A, a “separation
from service” as defined in Treasury Regulation Section 1.409A-1(h). For this purpose, a “separation from service”
is deemed to occur on the date that the Company and the Grantee reasonably anticipate that the level of bona fide services the
Grantee would perform for the Company and/or any Affiliates after that date (whether as an employee, Non-Employee Director or consultant
or independent contractor) would permanently decrease to a level that, based on the facts and circumstances, would constitute a
separation from service; provided that a decrease to a level that is 50% or more of the average level of bona fide services provided
over the prior 36 months shall not be a separation from service, and a decrease to a level that is 20% or less of the average level
of such bona fide services shall be a separation from service. The Committee retains the right and discretion to specify, and may
specify, whether a separation from service occurs for individuals providing services to the Company or an Affiliate immediately
prior to an asset purchase transaction in which the Company or an Affiliate is the seller who provide services to a buyer after
and in connection with such asset purchase transaction; provided, such specification is made in accordance with the requirements
of Treasury Regulation Section 1.409A-1(h)(4).

 

2.39 “Share” means a
share of Common Stock, and such other securities of the Company, as may be substituted or resubstituted for Shares pursuant to
Section 4.2 hereof.

 

2.40 “Stock Appreciation Right”
or “SAR” means an Award granted under Article 7 of the Plan.

 

2.41 “Subsidiary Corporation”
means a corporation other than the Company in an unbroken chain of corporations beginning with the Company if, at the time of granting
the Option, each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of
the total combined voting power of all classes of stock in one of the other corporations in such chain.

 

2.42 “Surviving Company”
means the surviving corporation in any merger or consolidation, involving the Company, including the Company if the Company is
the surviving corporation, or the direct or indirect parent company of the Company or such surviving corporation following a sale
of substantially all of the outstanding stock of the Company.

 

2.43 “Term” of any Option
or SAR means the period beginning on the Grant Date of an Option or SAR and ending on the date such Option or SAR expires, terminates,
or is cancelled. No Option or SAR granted under this Plan shall have a Term exceeding 10 years.

 

2.44 “Termination of Affiliation”
occurs on the first day on which an individual is for any reason no longer providing services to the Company or any Affiliate in
the capacity of an employee, officer or consultant or with respect to an individual who is an employee or officer of or a consultant
to an Affiliate, the first day on which such entity ceases to be an Affiliate of the Company; provided, however, that if an Award
constitutes deferred compensation within the meaning of Code Section 409A, Termination of Affiliation with respect to such Award
shall mean the Grantee’s Separation from Service.

 

Article 3.

Administration

 

3.1 Committee.

 

	 	(a)	Subject to Article 11, and to Section 3.2, the Plan shall be administered by a Committee (the “Incentive Plan Committee” or the “Committee”) appointed by the Board from time to time. Notwithstanding the foregoing, either the Board or the Compensation Committee may at any time and in one or more instances reserve administrative powers to itself as the Committee or exercise any of the administrative powers of the Committee. To the extent the Board or Compensation Committee considers it desirable to comply with Rule 16b-3 or meet the Performance-Based Exception, the Committee shall consist of two or more directors of the Company, all of whom qualify as “outside directors” within the meaning of Code Section 162(m) and Section 16 Non-Employee Directors. The number of members of the Committee shall from time to time be increased or decreased, and shall be subject to such conditions, in each case if and to the extent the Board deems it appropriate to permit transactions in Shares pursuant to the Plan to satisfy such conditions of Rule 16b-3 and the Performance-Based Exception as then in effect.

 

    

    

    

 

	 	(b)	The Board or the Compensation Committee may appoint and delegate to another committee (“Management Committee”), or to the CEO, any or all of the authority of the Board or the Committee, as applicable, with respect to Awards to Grantees other than Grantees who are executive officers, Non-Employee Directors, or are (or are expected to be) Covered Employees and/or are Section 16 Persons at the time any such delegated authority is exercised.

 

	 	(c)	Unless the context requires otherwise, any references herein to “Committee” include references to the Incentive Plan Committee, the Board, or the Compensation Committee to the extent Incentive Plan Committee, the Board, or the Compensation Committee, as applicable, has assumed or exercises administrative powers itself as the Committee pursuant to subsection (a), and to the Management Committee or the CEO to the extent either has been delegated authority pursuant to subsection (b), as applicable; provided that (i) for purposes of Awards to Non-Employee Directors, “Committee” shall include only the full Board, and (ii) for purposes of Awards intended to comply with Rule 16b-3 or meet the Performance-Based Exception, “Committee” shall include only the Incentive Plan Committee or the Compensation Committee.

 

3.2 Powers of Committee. Subject
to and consistent with the provisions of the Plan (including Article 11), the Committee has full and final authority and sole discretion
as follows; provided that any such authority or discretion exercised with respect to a specific Non-Employee Director shall be
approved by the affirmative vote of a majority of the members of the Board, even if not a quorum, but excluding the Non-Employee
Director with respect to whom such authority or discretion is exercised:

 

	 	(a)	to determine when, to whom, and in what types and amounts Awards should be granted;

 

	 	(b)	to grant Awards to Eligible Persons in any number and to determine the terms and conditions applicable to each Award (including the number of Shares or the amount of cash or other property to which an Award will relate, any Exercise Price or purchase price, any limitation or restriction, any schedule for or performance conditions relating to the earning of the Award or the lapse of limitations, forfeiture restrictions, restrictions on exercisability or transferability, any performance goals including those relating to the Company and/or an Affiliate and/or any division thereof and/or an individual, and/or vesting based on the passage of time, based in each case on such considerations as the Committee shall determine);

 

	 

                            
	(c)	to determine the benefit payable under any Dividend Equivalent or Other Stock-Based Award and to determine whether any performance or vesting conditions have been satisfied;

 

	 	(d)	to determine whether or not specific Awards shall be granted in connection with other specific Awards, and if so, whether they shall be exercisable cumulatively with, or alternatively to, such other specific Awards and all other matters to be determined in connection with an Award;

 

	 	(e)	to determine the Term of any Option or SAR;

 

	 	(f)	to determine the amount, if any, that a Grantee shall pay for Restricted Shares, whether to permit or require the payment of cash dividends thereon to be deferred and the terms related thereto, when Restricted Shares (including Restricted Shares acquired upon the exercise of an Option) shall be forfeited, and whether such shares shall be held in escrow;

 

	 	(g)	to determine whether, to what extent, and under what circumstances an Award may be settled in, or the exercise price of an Award may be paid in, cash, Shares, other Awards, or other property, or an Award may be accelerated, vested, canceled, forfeited, or surrendered or any terms of the Award may be waived, and to accelerate the exercisability of, and to accelerate or waive any or all of the terms and conditions applicable to, any Award or any group of Awards for any reason and at any time;

 

	 	(h)	to determine with respect to Awards granted to Eligible Persons whether, to what extent, and under what circumstances cash, Shares, other Awards, other property, and other amounts payable with respect to an Award will be deferred, either at the election of the Grantee or if and to the extent specified in the Award Agreement automatically or at the election of the Committee (whether to limit loss of deductions pursuant to Code Section 162(m) or otherwise);

 

    

    

    

 

	 	(i)	to offer to exchange or buy out any previously granted Award for a payment in cash, Shares, or other Award;

 

	 	(j)	to construe and interpret the Plan and to make all determinations, including factual determinations, necessary or advisable for the administration of the Plan;

 

	 	(k)	to make, amend, suspend, waive, and rescind rules and regulations relating to the Plan;

 

	 	(l)	to appoint such agents as the Committee may deem necessary or advisable to administer the Plan;

 

	 	(m)	to determine the terms and conditions of all Award Agreements applicable to Eligible Persons (which need not be identical) and, with the consent of the Grantee, to amend any such Award Agreement at any time, among other things, to permit transfers of such Awards to the extent permitted by the Plan; provided that the consent of the Grantee shall not be required for any amendment (i) which does not adversely affect the rights of the Grantee, or (ii) which is necessary or advisable (as determined by the Committee) to carry out the purpose of the Award as a result of any new applicable law or change in an existing applicable law, or (iii) to the extent the Award Agreement specifically permits amendment without consent;

 

	 	(n)	to cancel, with the consent of the Grantee, outstanding Awards and to grant new Awards in substitution therefor;

 

	 	(o)	to impose such additional terms and conditions upon the grant, exercise, or retention of Awards as the Committee may, before or concurrently with the grant thereof, deem appropriate, including limiting the percentage of Awards which may from time to time be exercised by a Grantee;

 

	 	(p)	to make adjustments in the terms and conditions of, and the criteria in, Awards in recognition of unusual or nonrecurring events (including events described in Section 4.2) affecting the Company or an Affiliate or the financial statements of the Company or an Affiliate, or in response to changes in applicable laws, regulations, or accounting principles; provided, however, that in no event shall such adjustment increase the value of an Award for a person expected to be a Covered Employee for whom the Committee desires to have the Performance-Based Exception apply;

 

	 	(q)	to correct any defect or supply any omission or reconcile any inconsistency, and to construe and interpret the Plan, the rules and regulations, and Award Agreement or any other instrument entered into or relating to an Award under the Plan; and

 

	 	(r)	to take any other action with respect to any matters relating to the Plan for which it is responsible and to make all other decisions and determinations as may be required under the terms of the Plan or as the Committee may deem necessary or advisable for the administration of the Plan.

 

Any action of the Committee with respect
to the Plan shall be final, conclusive, and binding on all persons, including the Company, its Affiliates, any Grantee, any person
claiming any rights under the Plan from or through any Grantee, and stockholders, except to the extent the Committee may subsequently
modify, or take further action not consistent with, its prior action. If not specified in the Plan, the time at which the Committee
must or may make any determination shall be determined by the Committee, and any such determination may thereafter be modified
by the Committee. The express grant of any specific power to the Committee, and the taking of any action by the Committee, shall
not be construed as limiting any power or authority of the Committee. The Committee may delegate to officers or managers of the
Company or any Affiliate the authority, subject to such terms as the Committee shall determine, to perform specified functions
under the Plan (subject to Sections 4.3 and 5.7(c)).

 

    

    

    

 

3.3 No Repricings. Notwithstanding
any provision in Section 3.2 to the contrary, the terms of any outstanding Option or SAR may not be amended to reduce the Exercise
Price of such Option or SAR or cancel any outstanding Option or SAR in exchange for other Options or SARs with an Exercise Price
that is less than the Exercise Price of the cancelled Option or SAR or for any cash payment (or Shares having with a Fair Market
Value) in an amount that exceeds the excess of the Fair Market Value of the Shares underlying such cancelled Option or SAR over
the aggregate Exercise Price of such Option or SAR or for any other Award, without stockholder approval; provided, however, that
the restrictions set forth in this Section 3.3, shall not apply (i) unless the Company has a class of stock that is registered
under Section 12 of the Exchange Act or (ii) to any adjustment allowed under Section 4.2.

 

Article 4.

Shares Subject to the Plan, Maximum Awards,
and 162(m) Compliance

 

4.1 Number of Shares Available for Grants.
Subject to this Section 4.1, adjustment as provided in Section 4.2 and except as provided in Section 5.6(b), the maximum number
of Shares hereby reserved for delivery under the Plan as of the Amendment Effective Date shall be:

 

	 	(a)	2,334,940 shares, less any shares available as of such date for issuance under the Company’s 2007 Employee Stock Option Plan; plus

	 	(b)	an annual increase to be added as of the first day of the Company’s fiscal year, beginning in 2018 and occurring each year thereafter through 2022, equal to 4% of the outstanding shares of Common Stock as of the end of the Company’s immediately preceding fiscal year, or any lesser number of shares of common stock determined by the Board; provided, however, that no more than an aggregate of 10,000,000 shares of Common Stock may be issued pursuant to incentive stock options intended to qualify under Section 422 of the Internal Revenue Code.

 

If any Shares subject to an Award granted
hereunder (other than a Substitute Award granted pursuant to Section 5.6(b)) are forfeited or such Award otherwise terminates without
the delivery of such Shares, the Shares subject to such Award, to the extent of any such forfeiture or termination, shall again
be available for grant under the Plan. For avoidance of doubt, however, if any Shares subject to an Award granted hereunder are
withheld or applied as payment in connection with the exercise of an Award or the withholding or payment of taxes related thereto
(“Returned Shares”), such Returned Shares will be treated as having been delivered for purposes of determining the
maximum number of Shares available for grant under the Plan and shall not again be treated as available for grant under the Plan.
Moreover, the number of Shares available for issuance under the Plan may not be increased through the Company’s purchase
of Shares on the open market with the proceeds obtained from the exercise of any Options granted hereunder. Upon settlement of
an SAR, the number of Shares underlying the portion of the SAR that is exercised will be treated as having been delivered for purposes
of determining the maximum number of Shares available for grant under the Plan and shall not again be treated as available for
grant under the Plan.

 

Shares delivered pursuant to the Plan may
be, in whole or in part, authorized and unissued Shares, or treasury Shares, including Shares repurchased by the Company for purposes
of the Plan.

 

4.2 Adjustments in Authorized Shares
and Awards; Liquidation, Dissolution, or Change of Control.

 

	 	(a)	Adjustment in Authorized Shares and Awards. In the event that the Committee determines that any dividend or other distribution (whether in the form of cash, Shares, or other property), recapitalization, forward or reverse stock split, subdivision, consolidation or reduction of capital, reorganization, merger, consolidation, scheme of arrangement, split-up, spin-off, or combination involving the Company or repurchase or exchange of Shares or other securities of the Company or other rights to purchase Shares or other securities of the Company, or other similar corporate transaction or event affects the Shares such that any adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Shares (or other securities or property) with respect to which Awards may be granted, (ii) the number and type of Shares (or other securities or property) subject to outstanding Awards, (iii) the Exercise Price with respect to any Award or, if deemed appropriate, make provision for a cash payment to the holder of an outstanding Award, and (iv) the number and kind of Shares of outstanding Restricted Shares, or the Shares underlying any Award of Restricted Stock Units, Deferred Stock or other outstanding Share-based Award. Notwithstanding the foregoing, no such adjustment shall be authorized with respect to any Options or SARs to the extent that such adjustment would cause the Option or SAR (determined as if such Option or SAR was an Incentive Stock Option) to violate Section 424(a) of the Code or otherwise subject any Grantee to taxation under Section 409A of the Code; and provided, further, that the number of Shares subject to any Award denominated in Shares shall always be a whole number.

 

    

    

    

 

	 	(b)	Merger, Consolidation, or Similar Corporate Transaction. In the event of a merger or consolidation of the Company with or into another corporation or a sale of substantially all of the stock of the Company (a “Corporate Transaction”), unless an outstanding Award is assumed by the Surviving Company or replaced with an equivalent Award granted by the Surviving Company in substitution for such outstanding Award, the Committee shall cancel any outstanding Awards that are not vested and nonforfeitable as of the consummation of such Corporate Transaction (unless the Committee accelerates the vesting of any such Awards) and with respect to any vested and nonforfeitable Awards, the Committee may either (i) allow all Grantees to exercise such Awards of Options and SARs within a reasonable period prior to the consummation of the Corporate Transaction and cancel any outstanding Options or SARs that remain unexercised upon consummation of the Corporate Transaction, or (ii) cancel any or all of such outstanding Awards in exchange for a payment (in cash, or in securities or other property) in an amount equal to the amount that the Grantee would have received (net of the Exercise Price with respect to any Options or SARs) if such vested Awards were settled or distributed or such vested Options and SARs were exercised immediately prior to the consummation of the Corporate Transaction. Notwithstanding the foregoing, if an Option or SAR is not assumed by the Surviving Company or replaced with an equivalent Award issued by the Surviving Company and the Exercise Price with respect to any outstanding Option or SAR exceeds the Fair Market Value of the Shares immediately prior to the consummation of the Corporation Transaction, such Awards shall be cancelled without any payment to the Grantee.

  

	 	(c)	Liquidation or Dissolution of the Company. In the event of the proposed dissolution or liquidation of the Company, each Award will terminate immediately prior to the consummation of such proposed action, unless otherwise provided by the Committee. Additionally, the Committee may, in the exercise of its sole discretion, cause Awards to be vested and non-forfeitable and cause any conditions on any such Award to lapse, as to all or any part of such Award, including Shares as to which the Award would not otherwise be exercisable or non-forfeitable and allow all Grantees to exercise such Awards of Options and SARs within a reasonable period prior to the consummation of such proposed action. Any Awards that remain unexercised upon consummation of such proposed action shall be cancelled.

 

	 	(d)	Deferred Compensation and Awards Intended to Comply With the Performance-Based Exception. Notwithstanding the forgoing provisions of this Section 4.2,

 

	 	(i)	if an Award (other than an Option or SAR) is intended to comply with the Performance-Based Exception, no payment or settlement of such Award shall be made pursuant to Section 4.2(b) or (c) until the earlier (i) the consummation of a change of control of the Company (as determined by the Committee in its sole discretion) or (ii) the attainment of the Performance Measure(s) upon which the Award is conditioned as certified by the Committee; and

  

 

	 	(ii)	if an Award constitutes deferred compensation within the meaning of Code Section 409A, no payment or settlement of such Award shall be made pursuant to Section 4.2(b) or (c), unless the Corporate Transaction or the dissolution or liquidation of the Company, as applicable, constitutes a change in ownership or effective control of the Company or a change in ownership of a substantial portion of the assets of the Company as described in Treasury Regulation Section 1.409A-3(i)(5).

 

    

    

    

 

4.3 Compliance with Section 162(m) of
the Code.

 

	 	(a)	Section 162(m) Compliance. To the extent the Committee determines that compliance with the Performance-Based Exception is desirable with respect to an Award, this Section 4.3(a) shall apply. Each Award that is intended to meet the Performance-Based Exception and is granted to a person the Committee believes is likely to be a Covered Employee at the time such Award is settled shall comply with the requirements of the Performance-Based Exception; provided, however, that to the extent Code Section 162(m) requires periodic stockholder approval of performance measures, such approval shall not be required for the continuation of the Plan or as a condition to grant any Award hereunder after such approval is required. In addition, in the event that changes are made to Code Section 162(m) to permit flexibility with respect to the Award or Awards available under the Plan, the Committee may, subject to this Section 4.3, make any adjustments to such Awards as it deems appropriate.

 

	 	(b)	Annual Individual Limitations. Except as provided in Section 5.6(b), no Grantee may be granted Awards (other than Awards that cannot be settled in Shares) with respect to more than one million Shares in a single calendar year, subject to adjustment as provided in Section 4.2(a). The maximum potential value of Awards to be settled in cash or property (other than Shares) that may be granted in any calendar year to any Grantee shall not exceed $1 mllion for all such Awards.

 

4.4 Performance-Based Exception Under
Section 162(m). Unless and until the Committee proposes for stockholder vote and stockholders approve a change in the general
performance measures set forth in this Section 4.4, for Awards (other than Options or SARs) designed to qualify for the Performance-Based
Exception, the objective Performance Measure(s) shall be chosen from among the following: the attainment by a Share of a specified
Fair Market Value for a specified period of time or within a specified period of time; earnings per Share; earnings per Share from
continuing operations; total stockholder return; return on assets; return on equity; return on capital; earnings before or after
taxes, interest, depreciation, and/or amortization; return on investment; interest expense; cash flow; cash flow from operations;
revenues; sales; costs; assets; debt; expenses; inventory turnover; economic value added; cost of capital; operating margin; gross
margin; net income before or after taxes; operating earnings either before or after interest expense and either before or after
incentives or asset impairments; attainment of cost reduction goals; revenue per customer; customer turnover rate; asset impairments;
financing costs; capital expenditures; working capital; strategic business criteria, consisting of one or more objectives based
on meeting specified revenue, market penetration, geographic business expansion goals, objectively identified project milestones,
production volume levels, cost targets, and goals relating to acquisitions or divestitures; objective measures of customer satisfaction,
aggregate product price and other product price measures; safety record; service reliability; debt rating; and achievement of business
and operational goals, such as market share, new products, and/or business development. Any applicable Performance Measure may
be applied on a pre- or post-tax basis. The Committee may, on the Grant Date of an Award intended to comply with the Performance-Based
Exception, and in the case of other grants, at any time, provide that the formula for such Award may include or exclude items to
measure specific objectives, such as losses from discontinued operations, extraordinary gains or losses, the cumulative effect
of accounting changes, acquisitions or divestitures, foreign exchange impacts and any unusual, nonrecurring gain or loss. The levels
of performance required with respect to Performance Measures may be expressed in absolute or relative levels and may be based upon
a set increase, set positive result, maintenance of the status quo, set decrease, or set negative result. Performance Measures
may differ for Awards to different Grantees. The Committee shall specify the weighting (which may be the same or different for
multiple objectives) to be given to each performance objective for purposes of determining the final amount payable with respect
to any such Award. Any one or more of the Performance Measures may apply to the Grantee, a department, unit, division, or function
within the Company or any one or more Affiliates; and may apply either alone or relative to the performance of other businesses
or individuals (including industry or general market indices). For Awards intended to comply with the Performance-Based Exception,
the Committee shall set the Performance Measures within the time period prescribed by Section 162(m) of the Code.

 

The Committee shall have the discretion
to adjust the determinations of the degree of attainment of the pre-established performance goals; provided, however, that Awards
which are designed to qualify for the Performance-Based Exception may not (unless the Committee determines to amend the Award so
that it no longer qualifies for the Performance-Based Exception) be adjusted upward (the Committee shall retain the discretion
to adjust such Awards downward). The Committee may not, unless the Committee determines to amend the Award so that it no longer
qualifies for the Performance-Based Exception, delegate any responsibility with respect to Awards intended to qualify for the Performance-Based
Exception. All determinations by the Committee as to the achievement of the Performance Measure(s) shall be in writing prior to
payment of the Award.

 

In the event that applicable laws change
to permit Committee discretion to alter the governing performance measures without obtaining stockholder approval of such changes,
and still qualify for the Performance-Based Exception, the Committee shall have sole discretion to make such changes without obtaining
stockholder approval.

 

    

    

    

 

Article 5.

Eligibility and General Conditions of
Awards

 

5.1 Eligibility. The Committee may
in its discretion grant Awards to any Eligible Person, whether or not he or she has previously received an Award; provided, however,
that all Awards made to Non-Employee Directors shall be determined by the Board in its sole discretion.

 

5.2 Award Agreement. To the extent
not set forth in the Plan, the terms and conditions of each Award shall be set forth in an Award Agreement.

 

5.3 General Terms and Termination of
Affiliation. The Committee may impose on any Award or the exercise or settlement thereof, at the date of grant or, subject
to the provisions of Section 12.2, thereafter, such additional terms and conditions not inconsistent with the provisions of the
Plan as the Committee shall determine, including terms requiring forfeiture, acceleration, or pro-rata acceleration of Awards in
the event of a Termination of Affiliation by the Grantee. Except as may be required under the Delaware General Corporation Law,
Awards may be granted for no consideration other than prior and future services. Except as otherwise determined by the Committee
pursuant to this Section 5.3, all Options that have not been exercised, or any other Awards that remain subject to a risk of forfeiture
or which are not otherwise vested, or which have outstanding Performance Periods, at the time of a Termination of Affiliation shall
be forfeited to the Company.

 

5.4 Nontransferability of Awards.

 

	 	(a)	Each Award and each right under any Award shall be exercisable only by the Grantee during the Grantee’s lifetime, or, if permissible under applicable law, by the Grantee’s guardian or legal representative or by a transferee receiving such Award pursuant to a qualified domestic relations order (a “QDRO”) as defined in the Code or Title I of the Employee Retirement Income Security Act of 1974, as amended, or the rules thereunder.

 

	 	(b)	No Award (prior to the time, if applicable, Shares are delivered in respect of such Award), and no right under any Award, may be assigned, alienated, pledged, attached, sold, or otherwise transferred or encumbered by a Grantee otherwise than by will or by the laws of descent and distribution (or in the case of Restricted Shares, to the Company) or pursuant to a QDRO, and any such purported assignment, alienation, pledge, attachment, sale, transfer, or encumbrance shall be void and unenforceable against the Company or any Affiliate; provided, that the designation of a beneficiary to receive benefits in the event of the Grantee’s death shall not constitute an assignment, alienation, pledge, attachment, sale, transfer, or encumbrance. 

 

	 	(c)	Notwithstanding subsections (a) and (b) above, to the extent provided in the Award Agreement, Options (other than Incentive Stock Options) and Restricted Shares, may be transferred, without consideration, to a Permitted Transferee. For this purpose, a “Permitted Transferee” in respect of any Grantee means any member of the Immediate Family of such Grantee, any trust of which all of the primary beneficiaries are such Grantee or members of his or her Immediate Family, or any partnership (including limited liability companies and similar entities) of which all of the partners or members are such Grantee or members of his or her Immediate Family; and the “Immediate Family” of a Grantee means the Grantee’s spouse, children, stepchildren, grandchildren, parents, stepparents, siblings, grandparents, nieces, and nephews. Such Option may be exercised by such transferee in accordance with the terms of the Award Agreement. If so determined by the Committee, a Grantee may, in the manner established by the Committee, designate a beneficiary or beneficiaries to exercise the rights of the Grantee, and to receive any distribution with respect to any Award upon the death of the Grantee. A transferee, beneficiary, guardian, legal representative, or other person claiming any rights under the Plan from or through any Grantee shall be subject to and consistent with the provisions of the Plan and any applicable Award Agreement, except to the extent the Plan and Award Agreement otherwise provide with respect to such persons, and to any additional restrictions or limitations deemed necessary or appropriate by the Committee.

  

	 	(d)	Nothing herein shall be construed as requiring the Committee to honor a QDRO except to the extent required under applicable law.

 

    

    

    

 

5.5 Cancellation and Rescission of Awards.
Unless the Award Agreement specifies otherwise, the Committee may cancel, rescind, suspend, withhold, or otherwise limit or restrict
any unexercised Award at any time if the Grantee is not in compliance with all applicable provisions of the Award Agreement and
the Plan or if the Grantee has a Termination of Affiliation.

 

5.6 Stand-Alone, Tandem, and Substitute
Awards.

 

	 	(a)	Awards granted under the Plan may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with, or in substitution for, any other Award granted under the Plan unless such tandem or substitution Award would subject the Grantee to tax penalties imposed under Section 409A of the Code; provided, further, that if the stand-alone, tandem, or substitute Award is intended to qualify for the Performance-Based Exception, it must separately satisfy the requirements of the Performance-Based Exception. If an Award is granted in substitution for another Award or any non-Plan award or benefit, the Committee shall require the surrender of such other Award or non-Plan award or benefit in consideration for the grant of the new Award. Awards granted in addition to or in tandem with other Awards or non-Plan awards or benefits may be granted either at the same time as or at a different time from the grant of such other Awards or non-Plan awards or benefits; provided, however, that if any SAR is granted in tandem with an Incentive Stock Option, such SAR and Incentive Stock Option must have the same Grant Date and Term and the Exercise Price of the SAR may not be less than the Exercise Price of the Incentive Stock Option.

  

	 	(b)	The Committee may, in its discretion and on such terms and conditions as the Committee considers appropriate in the circumstances, grant Awards under the Plan (“Substitute Awards”) in substitution for stock and stock-based awards (“Acquired Entity Awards”) held by current or former employees or non-employee directors of, or consultants to, another corporation or entity who become Eligible Persons as the result of a merger or consolidation of the employing corporation or other entity (the “Acquired Entity”) with the Company or an Affiliate or the acquisition by the Company or an Affiliate of property or stock of the Acquired Entity immediately prior to such merger, consolidation, or acquisition in order to preserve for the Grantee the economic value of all or a portion of such Acquired Entity Award at such price as the Committee determines necessary to achieve preservation of economic value. The limitations of Sections 4.1 and 4.3 on the number of Shares reserved or available for grants shall not apply to Substitute Awards granted under this Section 5.6(b).

 

5.7 Compliance with Rule 16b-3. The
provisions of this Section 5.7 will not apply unless and until the Company has a class of stock that is registered under Section
12 of the Exchange Act.

 

	 	(a)	Six-Month Holding Period Advice. Unless a Grantee could otherwise dispose of or exercise a derivative security or dispose of Shares delivered under the Plan without incurring liability under Section 16(b) of the Exchange Act, the Committee may advise or require a Grantee to comply with the following in order to avoid incurring liability under Section 16(b) of the Exchange Act: (i) at least six months must elapse from the date of acquisition of a derivative security under the Plan to the date of disposition of the derivative security (other than upon exercise or conversion) or its underlying equity security, and (ii) Shares granted or awarded under the Plan other than upon exercise or conversion of a derivative security must be held for at least six months from the date of grant of an Award.

 

	 	(b)	Reformation to Comply with Exchange Act Rules. To the extent the Committee determines that a grant or other transaction by a Section 16 Person should comply with applicable provisions of Rule 16b-3 (except for transactions exempted under alternative Exchange Act rules), the Committee shall take such actions as necessary to make such grant or other transaction so comply, and if any provision of this Plan or any Award Agreement relating to a given Award does not comply with the requirements of Rule 16b-3 as then applicable to any such grant or transaction, such provision will be construed or deemed amended, if the Committee so determines, to the extent necessary to conform to the then applicable requirements of Rule 16b-3.

  

    

    

    

 

	 	(c)	Rule 16b-3 Administration. Any function relating to a Section 16 Person shall be performed solely by the Committee or the Board if necessary to ensure compliance with applicable requirements of Rule 16b-3, to the extent the Committee determines that such compliance is desired. Each member of the Committee or person acting on behalf of the Committee shall be entitled to, in good faith, rely or act upon any report or other information furnished to him by any officer, manager or other employee of the Company or any Affiliate, the Company’s independent certified public accountants or any executive compensation consultant or attorney or other professional retained by the Company to assist in the administration of the Plan.

 

5.8 Deferral of Award Payouts. The
Committee may permit a Grantee to defer, or if and to the extent specified in an Award Agreement require the Grantee to defer,
receipt of the payment of cash or the delivery of Shares that would otherwise be due by virtue of the lapse or waiver of restrictions
with respect to Restricted Stock Units, the lapse or waiver of the deferral period for Deferred Stock, or the lapse or waiver of
restrictions with respect to Other Stock-Based Awards. If the Committee permits such deferrals, the Committee shall establish rules
and procedures for making such deferral elections and for the payment of such deferrals, which shall conform in form and substance
with applicable regulations promulgated under Section 409A of the Code and Article 13 to ensure that the Grantee is not subjected
to tax penalties under Section 409A of the Code with respect to such deferrals. Except as otherwise provided in an Award Agreement,
any payment or any Shares that are subject to such deferral shall be made or delivered to the Grantee as specified in the Award
Agreement or pursuant to the Grantee’s deferral election.

 

Article 6.

Stock Options

 

6.1 Grant of Options. Subject to
and consistent with the provisions of the Plan, Options may be granted to any Eligible Person in such number, and upon such terms,
and at any time and from time to time as shall be determined by the Committee.

 

6.2 Award Agreement. Each Option
grant shall be evidenced by an Award Agreement that shall specify the Exercise Price, the Term of the Option, the number of Shares
to which the Option pertains, the time or times at which such Option shall be exercisable, and such other provisions as the Committee
shall determine.

 

6.3 Option Exercise Price. The Exercise
Price of an Option under this Plan shall be determined in the sole discretion of the Committee but may not be less than 100% of
the Fair Market Value of a Share on the Grant Date.

 

6.4 Grant of Incentive Stock Options.
At the time of the grant of any Option, the Committee may in its discretion designate that such Option shall be made subject to
additional restrictions to permit it to qualify as an Incentive Stock Option. Any Option designated as an Incentive Stock Option:

 

	 	(a)	shall be granted only to an employee of the Company or a Subsidiary Corporation;

 

	 	(b)	shall have an Exercise Price of not less than 100% of the Fair Market Value of a Share on the Grant Date, and, if granted to a person who owns capital stock (including stock treated as owned under Section 424(d) of the Code) possessing more than 10% of the total combined voting power of all classes of capital stock of the Company or any Subsidiary Corporation (a “More Than 10% Owner”), have an Exercise Price not less than 110% of the Fair Market Value of a Share on its Grant Date;

 

	 	(c)	shall be for a period of not more than 10 years (five years if the Grantee is a More Than 10% Owner) from its Grant Date, and shall be subject to earlier termination as provided herein or in the applicable Award Agreement;

 

	 	(d)	shall not have an aggregate Fair Market Value (as of the Grant Date) of the Shares with respect to which Incentive Stock Options (whether granted under the Plan or any other stock option plan of the Grantee’s employer or any parent or Subsidiary Corporation (“Other Plans”)) are exercisable for the first time by such Grantee during any calendar year (“Current Grant”), determined in accordance with the provisions of Section 422 of the Code, which exceeds $100,000 (the “$100,000 Limit”);

 

	 	(e)	shall, if the aggregate Fair Market Value of the Shares (determined on the Grant Date) with respect to the Current Grant and all Incentive Stock Options previously granted under the Plan and any Other Plans which are exercisable for the first time during a calendar year (“Prior Grants”) would exceed the $100,000 Limit, be, as to the portion in excess of the $100,000 Limit, exercisable as a separate option that is not an Incentive Stock Option at such date or dates as are provided in the Current Grant;

 

    

    

    

 

	 

                            
	(f)	shall require the Grantee to notify the Committee of any disposition of any Shares delivered pursuant to the exercise of the Incentive Stock Option under the circumstances described in Section 421(b) of the Code (relating to holding periods and certain disqualifying dispositions) (“Disqualifying Disposition”) within 10 days of such a Disqualifying Disposition;

 

	 	(g)	shall by its terms not be assignable or transferable other than by will or the laws of descent and distribution and may be exercised, during the Grantee’s lifetime, only by the Grantee; provided, however, that the Grantee may, to the extent provided in the Plan in any manner specified by the Committee, designate in writing a beneficiary to exercise his or her Incentive Stock Option after the Grantee’s death; and

 

	 	(h)	shall, if such Option nevertheless fails to meet the foregoing requirements, or otherwise fails to meet the requirements of Section 422 of the Code for an Incentive Stock Option, be treated for all purposes of this Plan, except as otherwise provided in subsections (d) and (e) above, as an Option that is not an Incentive Stock Option.

 

Notwithstanding the foregoing and Section
3.2, the Committee may, without the consent of the Grantee, at any time before the exercise of an Option (whether or not an Incentive
Stock Option), take any action necessary to prevent such Option from being treated as an Incentive Stock Option.

 

6.5 Payment of Exercise Price. Except
as otherwise provided by the Committee in an Award Agreement, Options shall be exercised by the delivery of a written notice of
exercise to the Company, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by
full payment for the Shares made by any one or more of the following means:

 

	 	(a)	cash, personal check, or wire transfer;

 

	 	(b)	delivery of Common Stock owned by the Grantee prior to exercise, valued at their Fair Market Value on the date of exercise;

 

	 

                            
	(c)	with the approval of the Committee, Shares acquired upon the exercise of such Option, such Shares valued at their Fair Market Value on the date of exercise;

 

	 	(d)	with the approval of the Committee, Restricted Shares held by the Grantee prior to the exercise of the Option, each such share valued at the Fair Market Value of a Share on the date of exercise; or

 

	 	(e)	subject to applicable law (including the prohibited loan provisions of Section 402 of the Sarbanes Oxley Act of 2002), through the sale of the Shares acquired on exercise of the Option through a broker-dealer to whom the Grantee has submitted an irrevocable notice of exercise and irrevocable instructions to deliver promptly to the Company the amount of sale proceeds sufficient to pay for such Shares, together with, if requested by the Company, the amount of federal, state, local, or foreign withholding taxes payable by Grantee by reason of such exercise.

 

The Committee may in its discretion specify
that, if any Restricted Shares (“Tendered Restricted Shares”) are used to pay the Exercise Price, (x) all the Shares
acquired on exercise of the Option shall be subject to the same restrictions as the Tendered Restricted Shares, determined as of
the date of exercise of the Option, or (y) a number of Shares acquired on exercise of the Option equal to the number of Tendered
Restricted Shares shall be subject to the same restrictions as the Tendered Restricted Shares, determined as of the date of exercise
of the Option.

 

    

    

    

 

Article 7.

Stock Appreciation Rights

 

7.1 Issuance. Subject to and consistent
with the provisions of the Plan, the Committee, at any time and from time to time, may grant SARs to any Eligible Person either
alone or in addition to other Awards granted under the Plan. Such SARs may, but need not, be granted in connection with a specific
Option granted under Article 6. The Committee may impose such conditions or restrictions on the exercise of any SAR as it shall
deem appropriate.

 

7.2 Award Agreements. Each SAR grant
shall be evidenced by an Award Agreement in such form as the Committee may approve and shall contain such terms and conditions
not inconsistent with other provisions of the Plan as shall be determined from time to time by the Committee.

 

7.3 SAR Exercise Price. The Exercise
Price of a SAR shall be determined by the Committee in its sole discretion; provided that the Exercise Price shall not be less
than 100% of the Fair Market Value of a Share on the date of the grant of the SAR.

 

7.4 Exercise and Payment. Upon the
exercise of an SAR, a Grantee shall be entitled to receive payment from the Company in an amount determined by multiplying:

 

	 	(a)	The excess of the Fair Market Value of a Share on the date of exercise over the Exercise Price; by

 

	 	(b)	The number of Shares with respect to which the SAR is exercised.

 

SARs shall be deemed exercised on the date
that written notice of exercise in a form acceptable to the Committee is received by the Secretary of the Company. The Company
shall make payment in respect of any SAR within five (5) days of the date the SAR is exercised. Any payment by the Company in respect
of a SAR may be made in cash, Shares, other property, or any combination thereof, as the Committee, in its sole discretion, shall
determine.

 

7.5 Grant Limitations. The Committee
may at any time impose any other limitations upon the exercise of SARs which, in the Committee’s sole discretion, are necessary
or desirable in order for Grantees to qualify for an exemption from Section 16(b) of the Exchange Act.

 

Article 8.

Restricted Shares

 

8.1 Grant of Restricted Shares. Subject
to and consistent with the provisions of the Plan, the Committee, at any time and from time to time, may grant Restricted Shares
to any Eligible Person in such amounts as the Committee shall determine.

 

8.2 Award Agreement. Each grant of
Restricted Shares shall be evidenced by an Award Agreement that shall specify the Period(s) of Restriction, the number of Restricted
Shares granted, and such other provisions as the Committee shall determine. The Committee may impose such conditions and/or restrictions
on any Restricted Shares granted pursuant to the Plan as it may deem advisable, including restrictions based upon the achievement
of specific performance goals, time-based restrictions on vesting following the attainment of the performance goals, and/or restrictions
under applicable securities laws; provided that such conditions and/or restrictions may lapse, if so determined by the Committee,
in the event of the Grantee’s Termination of Affiliation due to death, Disability, or involuntary termination by the Company
or an Affiliate without “cause.”

 

8.3 Consideration for Restricted Shares.
The Committee shall determine the amount, if any, that a Grantee shall pay for Restricted Shares.

 

8.4 Effect of Forfeiture. If Restricted
Shares are forfeited, and if the Grantee was required to pay for such shares or acquired such Restricted Shares upon the exercise
of an Option, the Grantee shall be deemed to have resold such Restricted Shares to the Company at a price equal to the lesser of
(x) the amount paid by the Grantee for such Restricted Shares, or (y) the Fair Market Value of a Share on the date of such forfeiture.
The Company shall pay to the Grantee the deemed sale price as soon as is administratively practical. Such Restricted Shares shall
cease to be outstanding and shall no longer confer on the Grantee thereof any rights as a stockholder of the Company, from and
after the date of the event causing the forfeiture, whether or not the Grantee accepts the Company’s tender of payment for
such Restricted Shares.

 

8.5 Escrow; Legends. The Committee
may provide that the certificates for any Restricted Shares (x) shall be held (together with a stock power executed in blank by
the Grantee) in escrow by the Secretary of the Company until such Restricted Shares become nonforfeitable or are forfeited and/or
(y) shall bear an appropriate legend restricting the transfer of such Restricted Shares under the Plan. If any Restricted Shares
become nonforfeitable, the Company shall cause certificates for such shares to be delivered without such legend.

 

    

    

    

 

Article 9.

Deferred Stock and Restricted Stock Units

 

9.1 Grant of Deferred Stock and Restricted
Stock Units. Subject to and consistent with the provisions of the Plan, the Committee, at any time and from time to time, may
grant Deferred Stock and/or Restricted Stock Units to any Eligible Person, in such amount and upon such terms as the Committee
shall determine. Deferred Stock must conform in form and substance with applicable regulations promulgated under Section 409A of
the Code and with Article 13 to ensure that the Grantee is not subjected to tax penalties under Section 409A of the Code with respect
to such Deferred Stock.

 

9.2 Vesting and Delivery.

 

	 	(a)	Delivery With Respect to Deferred Stock. Delivery of Shares subject to a Deferred Stock grant will occur upon expiration of the deferral period or upon the occurrence of one or more of the distribution events described in Section 409A(a)(2) of the Code as specified by the Committee in the Grantee’s Award Agreement for the Award of Deferred Stock. An Award of Deferred Stock may be subject to such substantial risk of forfeiture conditions as the Committee may impose, which conditions may lapse at such times or upon the achievement of such objectives as the Committee shall determine at the time of grant or thereafter. Unless otherwise determined by the Committee, to the extent that the Grantee has a Termination of Affiliation while the Deferred Stock remains subject to a substantial risk of forfeiture, such Deferred Shares shall be forfeited, unless the Committee determines that such substantial risk of forfeiture shall lapse in the event of the Grantee’s Termination of Affiliation due to death, Disability, or involuntary termination by the Company or an Affiliate without “cause.”

 

	 	(b)	Delivery With Respect to Restricted Stock Units. Delivery of Shares subject to a grant of Restricted Stock Units shall occur no later than the 15th day of the third month following the end of the taxable year of the Grantee or the fiscal year of the Company in which the Grantee’s rights under such Restricted Stock Units are no longer subject to a substantial risk of forfeiture as defined in final regulations under Section 409A of the Code. Unless otherwise determined by the Committee, to the extent that the Grantee has a Termination of Affiliation while the Restricted Stock Units remains subject to a substantial risk of forfeiture, such Restricted Stock Units shall be forfeited, unless the Committee determines that such substantial risk of forfeiture shall lapse in the event of the Grantee’s Termination of Affiliation due to death, Disability, or involuntary termination by the Company or an Affiliate without “cause.”

 

9.3 Voting and Dividend Equivalent Rights
Attributable to Deferred Stock and Restricted Stock Units. A Grantee awarded Deferred Stock or Restricted Stock Units will
have no voting rights with respect to such Deferred Stock or Restricted Stock Units prior to the delivery of Shares in settlement
of such Deferred Stock and/or Restricted Stock Units. Unless otherwise determined by the Committee, a Grantee will have the rights
to receive Dividend Equivalents in respect of Deferred Stock and/or Restricted Stock Units, which Dividend Equivalents shall be
deemed reinvested in additional Shares of Deferred Stock or Restricted Stock Units, as applicable, which shall remain subject to
the same forfeiture conditions applicable to the Deferred Stock or Restricted Stock Units to which such Dividend Equivalents relate.

 

Article 10.

Other Stock-Based Awards

 

The Committee is authorized, subject to
limitations under applicable law, to grant such other Awards that are denominated or payable in, valued in whole or in part by
reference to, or otherwise based on, or related to, Shares, as deemed by the Committee to be consistent with the purposes of the
Plan, including Shares awarded which are not subject to any restrictions or conditions, convertible or exchangeable debt securities
or other rights convertible or exchangeable into Shares, and Awards valued by reference to the value of securities of or the performance
of specified Affiliates. Subject to and consistent with the provisions of the Plan, the Committee shall determine the terms and
conditions of such Awards. Except as provided by the Committee, Shares delivered pursuant to a purchase right granted under this
Article 10 shall be purchased for such consideration, paid for by such methods and in such forms, including cash, Shares, outstanding
Awards, or other property, as the Committee shall determine.

 

    

    

    

 

Article 11.

Non-Employee Director Awards

 

Subject to the terms of the Plan, the Board
may grant Awards to any Non-Employee Director, in such amount and upon such terms and at any time and from time to time as shall
be determined by the full Board in its sole discretion. Except as otherwise provided in Section 5.6(b), a Non-Employee Director
may not be granted Awards with respect to more than 400,000 Shares in a single calendar year, subject to adjustment as provided
in Section 4.2(a).

 

Article 12. 

Amendment, Modification, and Termination

 

12.1 Amendment, Modification, and Termination.
Subject to Section 12.2, the Board may, at any time and from time to time, alter, amend, suspend, discontinue, or terminate the
Plan in whole or in part without the approval of the Company’s stockholders, except that (a) any amendment or alteration
shall be subject to the approval of the Company’s stockholders if such stockholder approval is required by any federal or
state law or regulation or the rules of any stock exchange or automated quotation system on which the Shares may then be listed
or quoted, and (b) the Board may otherwise, in its discretion, determine to submit other such amendments or alterations to stockholders
for approval.

 

12.2 Awards Previously Granted. Except
as otherwise specifically permitted in the Plan or an Award Agreement, no termination, amendment, or modification of the Plan shall
adversely affect in any material way any Award previously granted under the Plan, without the written consent of the Grantee of
such Award.

 

Article 13.

Compliance with Code Section 409A

 

13.1 Awards Subject to Code Section 409A.
The provisions of this Article 13 shall apply to any Award or portion thereof that is or becomes deferred compensation subject
to Code Section 409A (a “409A Award”), notwithstanding any provision to the contrary contained in the Plan or the Award
Agreement applicable to such Award.

 

13.2 Deferral and/or Distribution Elections.
Except as otherwise permitted or required by Code Section 409A, the following rules shall apply to any deferral and/or elections
as to the form or timing of distributions (each, an “Election”) that may be permitted or required by the Committee
with respect to a 409A Award:

 

	 	(a)	Any Election must be in writing and specify the amount being deferred, and the time and form of distribution (i.e., lump sum or installments) as permitted by this Plan. An Election may but need not specify whether payment will be made in cash, Shares, or other property.

 

	 	(b)	Any Election shall become irrevocable as of the deadline specified by the Committee, which shall not be later than December 31 of the year preceding the year in which services relating to the Award commence; provided, however, that if the Award qualifies as “performance-based compensation” for purposes of Code Section 409A and is based on services performed over a period of at least twelve (12) months, then the deadline may be no later than six (6) months prior to the end of such Performance Period.

 

	 	(c)	Unless otherwise provided by the Committee, an Election shall continue in effect until a written election to revoke or change such Election is received by the Committee, prior to the last day for making an Election for the subsequent year.

 

13.3 Subsequent Elections. Except
as otherwise permitted or required by Code Section 409A, any 409A Award which permits a subsequent Election to further defer the
distribution or change the form of distribution shall comply with the following requirements:

 

	 	(a)	No subsequent Election may take effect until at least twelve (12) months after the date on which the subsequent Election is made;

 

	 	(b)	Each subsequent Election related to a distribution upon separation from service, a specified time, or a change in control as defined in Section 13.4(e) must result in a delay of the distribution for a period of not less than five (5) years from the date such distribution would otherwise have been made; and

 

	 	(c)	No subsequent Election related to a distribution to be made at a specified time or pursuant to a fixed schedule shall be made less than twelve (12) months prior to the date the first scheduled payment would otherwise be made.

 

    

    

    

 

13.4 Distributions Pursuant to Deferral
Elections. Except as otherwise permitted or required by Code Section 409A, no distribution in settlement of a 409A Award may
commence earlier than:

 

	 	(a)	Separation from Service;

 

	 	(b)	The date the Grantee becomes Disabled (as defined in Section 2.12(b));

 

	 	(c)	The Grantee’s death;

 

	 	(d)	A specified time (or pursuant to a fixed schedule) that is either (i) specified by the Committee upon the grant of the Award and set forth in the Award Agreement or (ii) specified by the Grantee in an Election complying with the requirements of Section 13.2 and/or 13.3, as applicable; or

 

	 	(e)	A change in control of the Company within the meaning of Treasury Regulation Section 1.409A-3(h)(5).

 

13.5 Six Month Delay. Notwithstanding
anything herein or in any Award Agreement or Election to the contrary, to the extent that distribution of a 409A Award is triggered
by a Grantee’s Separation from Service, if the Grantee is then a “specified employee” (as defined in Treasury
Regulation Section 1.409A-1(i)), no distribution may be made before the date which is six (6) months after such Grantee’s
Separation from Service, or, if earlier, the date of the Grantee’s death.

 

13.6 Death or Disability. Unless
the Award Agreement otherwise provides, if a Grantee dies or becomes Disabled before complete distribution of amounts payable upon
settlement of a 409A Award, such undistributed amounts, to the extent vested, shall be distributed as provided in the Grantee’s
Election. If the Grantee has made no Election with respect to distributions upon death or Disability, all such distributions shall
be paid in a lump sum within 90 days following the date of the Grantee’s death or Disability.

 

13.7 No Acceleration of Distributions.
This Plan does not permit the acceleration of the time or schedule of any distribution under a 409A Award, except as provided by
Code Section 409A and/or applicable regulations or rulings issued thereunder.

 

13.8 Responsibility for Section 409A
Taxes and Penalties. Notwithstanding anything to the contrary contained in this Plan or an Award Agreement issued hereunder,
each Grantee is solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or in respect
of such Grantee in connection with this Plan or any other plan maintained by the Company (including any taxes and penalties under
Section 409A of the Code), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise
hold such Grantee (or any beneficiary) harmless from any or all of such taxes or penalties.

 

Article 14.

Withholding

 

14.1 Required Withholding.

 

	 	(a)	The Committee in its sole discretion may provide that when taxes are to be withheld in connection with the exercise of an Option or SAR, or upon the lapse of restrictions on Restricted Shares, or upon the transfer of Shares, or upon payment of any other benefit or right under this Plan (the date on which such exercise occurs or such restrictions lapse or such payment of any other benefit or right occurs hereinafter referred to as the “Tax Date”), the Grantee may elect to make payment for the withholding of federal, state, and local taxes, including Social Security and Medicare (“FICA”) taxes, by one or a combination of the following methods:

 

	 	(i)	payment of an amount in cash equal to the amount to be withheld (including cash obtained through the sale of the Shares acquired on exercise of an Option or SAR, upon the lapse of restrictions on Restricted Shares, or upon the transfer of Shares, through a broker-dealer to whom the Grantee has submitted an irrevocable instructions to deliver promptly to the Company, the amount to be withheld);

 

    

    

    

 

	 	(ii)	delivering part or all of the amount to be withheld in the form of Common Stock valued at its Fair Market Value on the Tax Date;

 

	 	(iii)	requesting the Company to withhold from those Shares that would otherwise be received upon exercise of the Option or SAR, upon the lapse of restrictions on Restricted Stock, or upon the transfer of Shares, a number of Shares having a Fair Market Value on the Tax Date equal to the amount to be withheld; or

 

	 	(iv)	withholding from any compensation otherwise due to the Grantee.

 

The Committee in its sole discretion
may provide that the maximum amount of tax withholding upon exercise of an Option or SARs, upon the lapse of restrictions on Restricted
Shares, or upon the transfer of Shares, to be satisfied by withholding Shares upon exercise of such Option or SAR, upon the lapse
of restrictions on Restricted Shares, or upon the transfer of Shares, pursuant to clause (iii) above shall not exceed the minimum
amount of taxes, including FICA taxes, required to be withheld under federal, state, and local law. An election by a Grantee under
this subsection is irrevocable. Any fractional share amount and any additional withholding not paid by the withholding or surrender
of Shares must be paid in cash. If no timely election is made, the Grantee must deliver cash to satisfy all tax withholding requirements.

 

	 	(b)	Any Grantee who makes a Disqualifying Disposition (as defined in Section 6.4(f)) or an election under Section 83(b) of the Code shall remit to the Company an amount sufficient to satisfy all resulting tax withholding requirements in the same manner as set forth in subsection (a).

 

 14.2 Notification under Code Section
83(b). If the Grantee, in connection with the exercise of any Option, or the grant of Restricted Shares, makes the election
permitted under Section 83(b) of the Code to include in such Grantee’s gross income in the year of transfer the amounts specified
in Section 83(b) of the Code, then such Grantee shall notify the Company of such election within 10 days of filing the notice of
the election with the Internal Revenue Service, in addition to any filing and notification required pursuant to regulations issued
under Section 83(b) of the Code. The Committee may, in connection with the grant of an Award or at any time thereafter, prohibit
a Grantee from making the election described above.

 

Article 15.

Additional Provisions

 

15.1 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.

 

15.2 Severability. If any part of
the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not
invalidate any other part of the Plan. Any Section or part of a Section so declared to be unlawful or invalid shall, if possible,
be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible
while remaining lawful and valid.

 

15.3 Requirements of Law. The granting
of Awards and the delivery of Shares under the Plan shall be subject to all applicable laws, rules, and regulations, and to such
approvals by any governmental agencies or national securities exchanges as may be required. Notwithstanding any provision of the
Plan or any Award, Grantees shall not be entitled to exercise, or receive benefits under, any Award, and the Company (and any Affiliate)
shall not be obligated to deliver any Shares or deliver benefits to a Grantee, if such exercise or delivery would constitute a
violation by the Grantee or the Company of any applicable law or regulation.

 

15.4 Securities Law Compliance.

 

	 	(a)	If the Committee deems it necessary to comply with any applicable securities law, or the requirements of any stock exchange upon which Shares may be listed, the Committee may impose any restriction on Awards or Shares acquired pursuant to Awards under the Plan as it may deem advisable. In addition, if requested by the Company and any underwriter engaged by the Company, Shares acquired pursuant to Awards may not be sold or otherwise transferred or disposed of for such period following the effective date of any registration statement of the Company filed under the Securities Act as the Company or such underwriter shall specify reasonably and in good faith, not to exceed 90 days. All certificates for Shares delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the SEC, any stock exchange upon which Shares are then listed, 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. If so requested by the Company, the Grantee shall make a written representation to the Company that he or she will not sell or offer to sell any Shares unless a registration statement shall be in effect with respect to such Shares under the Securities Act of 1933, as amended, and any applicable state securities law or unless he or she shall have furnished to the Company, in form and substance satisfactory to the Company, that such registration is not required. 

 

    

    

    

 

	 	(b)	If the Committee determines that the exercise or nonforfeitability of, or delivery of benefits pursuant to, any Award would violate any applicable provision of securities laws or the listing requirements of any national securities exchange or national market system on which are listed any of the Company’s equity securities, then the Committee may postpone any such exercise, nonforfeitability or delivery, as applicable, but the Company shall use all reasonable efforts to cause such exercise, nonforfeitability or delivery to comply with all such provisions at the earliest practicable date.

 

15.5 Awards Subject to Claw-Back Policies.
Notwithstanding any provisions herein to the contrary, if the Company has a class of stock that is registered under Section 12
of the Exchange Act, all Awards granted hereunder shall be subject to the terms of any recoupment policy currently in effect or
subsequently adopted by the Board to implement Section 304 of the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley Act”)
or Section 10D of the Exchange Act (or with any amendment or modification of such recoupment policy adopted by the Board) to the
extent that such Award (whether or not previously exercised or settled) or the value of such Award is required to be returned to
the Company pursuant to the terms of such recoupment policy.

 

15.6 No Rights as a Stockholder.
No Grantee shall have any rights as a stockholder of the Company with respect to the Shares (other than Restricted Shares) which
may be deliverable upon exercise or payment of such Award until such Shares have been delivered to him or her. Restricted Shares,
whether held by a Grantee or in escrow by the Secretary of the Company, shall confer on the Grantee all rights of a stockholder
of the Company, except as otherwise provided in the Plan or Award Agreement. At the time of a grant of Restricted Shares, the Committee
may require the payment of cash dividends thereon to be deferred and, if the Committee so determines, reinvested in additional
Restricted Shares. Stock dividends and deferred cash dividends issued with respect to Restricted Shares shall be subject to the
same restrictions and other terms as apply to the Restricted Shares with respect to which such dividends are issued. The Committee
may in its discretion provide for payment of interest on deferred cash dividends.

 

15.7 Nature of Payments. Unless otherwise
specified in the Award Agreement, Awards shall be special incentive payments to the Grantee and shall not be taken into account
in computing the amount of salary or compensation of the Grantee for purposes of determining any pension, retirement, death or
other benefit under (a) any pension, retirement, profit sharing, bonus, insurance, or other employee benefit plan of the Company
or any Affiliate, except as such plan shall otherwise expressly provide, or (b) any agreement between (i) the Company or any Affiliate
and (ii) the Grantee, except as such agreement shall otherwise expressly provide.

 

15.8 Non-Exclusivity of Plan. Neither
the adoption of the Plan by the Board nor its submission to the stockholders of the Company for approval shall be construed as
creating any limitations on the power of the Board to adopt such other compensatory arrangements for employees or Non-Employee
Directors as it may deem desirable.

 

15.9 Governing Law. The Plan, and
all agreements hereunder, shall be construed in accordance with and governed by the laws of the State of Delaware, other than its
laws respecting choice of law.

 

15.10 Unfunded Status of Awards; Creation
of Trusts. The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With
respect to any payments not yet made to a Grantee pursuant to an Award, nothing contained in the Plan or any Award Agreement shall
give any such Grantee any rights that are greater than those of a general creditor of the Company; provided, however, that the
Committee may authorize the creation of trusts or make other arrangements to meet the Company’s obligations under the Plan
to deliver cash, Shares, or other property pursuant to any Award which trusts or other arrangements shall be consistent with the
“unfunded” status of the Plan unless the Committee otherwise determines.

 

    

    

    

 

15.11 Affiliation. Nothing in the
Plan or an Award Agreement shall interfere with or limit in any way the right of the Company or any Affiliate to terminate any
Grantee’s employment or consulting contract at any time, nor confer upon any Grantee the right to continue in the employ
of or as an officer of or as a consultant to the Company or any Affiliate.

 

15.12 Participation. No employee
or officer shall have the right to be selected to receive an Award under this Plan or, having been so selected, to be selected
to receive a future Award.

 

15.13 Military Service. Awards shall
be administered in accordance with Section 414(u) of the Code and the Uniformed Services Employment and Reemployment Rights Act
of 1994.

 

15.14 Construction. The following
rules of construction will apply to the Plan: (a) the word “or” is disjunctive but not necessarily exclusive, and (b)
words in the singular include the plural, words in the plural include the singular, and words in the neuter gender include the
masculine and feminine genders and words in the masculine or feminine gender include the other neuter genders.

 

15.15 Headings. The headings of articles
and sections are included solely for convenience of reference, and if there is any conflict between such headings and the text
of this Plan, the text shall control.

 

15.16 Obligations. Unless otherwise
specified in the Award Agreement, the obligation to deliver, pay, or transfer any amount of money or other property pursuant to
Awards under this Plan shall be the sole obligation of a Grantee’s employer; provided that the obligation to deliver or transfer
any Shares pursuant to Awards under this Plan shall be the sole obligation of the Company.

 

15.17 No Right to Continue as Director.
Nothing in the Plan or any Award Agreement shall confer upon any Non-Employee Director the right to continue to serve as a director
of the Company.

 

15.18 Stockholder Approval. All
Awards granted on or after the Amendment Effective Date and prior to the date the Company’s stockholders approve the amendment
and restatement of the Plan are expressly conditioned upon and subject to approval of such amendment and restatement of the Plan
by the Company’s stockholders.

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