Document:

EXECUTION COPY

 

AMENDED AND RESTATED SUBSIDIARY GUARANTY
AGREEMENT

 

THIS AMENDED AND RESTATED
SUBSIDIARY GUARANTY AGREEMENT (this “Guaranty”) is executed as of July 2, 2012, by EACH OF THE SUBSIDIARIES
OF AMERICAN REALTY CAPITAL OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (“Borrower”),
LISTED ON SCHEDULE 1 ATTACHED HERETO or who become a party hereto pursuant to Section 21 below (each
a “Guarantor” and collectively, “Guarantors”), for
the benefit of the Credit Parties (defined below).

 

RECITALS:

 

A.           Borrower
is party to that certain Term Loan Agreement, dated as of April 16, 2012 (the “Existing Term Loan Agreement”),
among Borrower, American Realty Capital Trust, Inc. (“Parent Guarantor”), each lender from time to time
party thereto (the “Existing Lenders”), and Wells Fargo Bank, National Association, as
Administrative Agent for the benefit of the Existing Lenders (“Administrative Agent”). Capitalized
terms used herein shall, unless otherwise indicated, have the respective meanings set forth in the Term Loan Agreement.

 

B.           In
connection with the Existing Term Loan Agreement, each Guarantor entered into that certain Subsidiary Guaranty Agreement, dated
as of April 16, 2012 (the “Existing Guaranty”), in favor of Administrative Agent, for the benefit of
the Existing Lenders, to guaranty the repayment of the Guaranteed Obligations (as defined in the Existing Guaranty) under the Existing
Term Loan Agreement.

 

C.           Borrower,
Parent Guarantor, the Existing Lenders and Administrative Agent have agreed to amend and restate the Existing Term Loan Agreement
pursuant to that certain Amended and Restated Term Loan Agreement dated as of the date hereof (as same may be further amended,
restated, supplemented or otherwise modified from time to time, the “Term Loan Agreement”) among Borrower,
Parent Guarantor, the lenders from time to time party thereto (including any Existing Lenders, the “Lenders”)
and Administrative Agent (Administrative Agent and the Lenders, together with their respective successors and assigns, are each
a “Credit Party,” and collectively the “Credit Parties”), which Term
Loan Agreement, among other things, re-evidences the Borrower’s outstanding obligations under the Existing Term Loan Agreement
and provides, subject to the terms and conditions thereof, for extensions of credit to be made by the Lenders to or for the benefit
of Borrower.

 

D.           Each
Guarantor wishes to affirm its obligations under the terms of the Existing Guaranty and wishes to amend and restate the terms of
the Existing Guaranty.

 

E.           Each
Guarantor is a Subsidiary of Borrower and will, directly or indirectly, benefit from the Credit Parties’ extension of credit
to Borrower.

 

F.           This
Guaranty is integral to the transactions contemplated by the Loan Documents, and the execution and delivery hereof is a condition
precedent to the Credit Parties’ obligations to extend credit to Borrower under the Loan Documents.

 

NOW, THEREFORE, as
an inducement to the Credit Parties to enter into the Term Loan Agreement and to make Loans to Borrower thereunder, and to extend
such credit to Borrower as the Credit Parties may from time to time agree to extend, and for other good and valuable consideration,
the receipt and legal sufficiency of which are hereby acknowledged, Guarantors hereby jointly and severally guarantee payment of
the Guaranteed Obligations (hereinafter defined) and hereby agree as follows:

 

    	 

    	 

    

 

Section
1.          Nature of Guaranty.
Each Guarantor hereby absolutely and unconditionally guarantees, jointly and severally, as a guarantee of payment and not merely
as a guarantee of collection, prompt payment when due, whether at stated maturity, upon acceleration or otherwise, and at all times
thereafter, of any and all existing and future Obligations including, without limitation, all indebtedness and liabilities of every
kind, nature and character, direct or indirect, absolute or contingent, liquidated or unliquidated, voluntary or involuntary, of
Borrower to the Credit Parties arising under the Term Loan Agreement and the other Loan Documents (including, without limitation,
all renewals, extensions, modifications, amendments, and restatements thereof and all costs, attorneys’ fees and expenses
incurred by any Credit Party in connection with the collection or enforcement thereof) including, without limitation, any and all
environmental indemnifications contained in the Loan Documents (collectively, the “Guaranteed Obligations”).
Administrative Agent’s books and records showing the amount of the Guaranteed Obligations shall be admissible in evidence
in any action or proceeding, and shall be binding upon each Guarantor and conclusive for the purpose of establishing the amount
of the Guaranteed Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity, or enforceability
of the Guaranteed Obligations or any instrument or agreement evidencing any Guaranteed Obligations, or by the existence, validity,
enforceability, perfection, or extent of any collateral therefor, or by any fact or circumstance relating to the Guaranteed Obligations
which might otherwise constitute a defense to the obligations of any Guarantor under this Guaranty.

 

Section
2.          No
Setoff or Deductions; Taxes. Each Guarantor represents and warrants that it is formed and resident in the United
States of America. All payments by any Guarantor hereunder shall be paid in full, without setoff or counterclaim or any deduction
or withholding whatsoever, including, without limitation, for any and all present and future taxes. If any Guarantor must make
a payment under this Guaranty, then such Guarantor represents and warrants that it will make the payment from its offices located
in the United States of America to Administrative Agent, for the benefit of the Credit Parties, so that no withholding tax is imposed
on such payment. Notwithstanding the foregoing, if any Guarantor makes a payment under this Guaranty to which withholding tax applies,
or any taxes (other than Excluded Taxes) are at any time imposed on any payments under or in respect of this Guaranty including,
but not limited to, payments made pursuant to this Section 2, then such Guarantor shall pay all such taxes to the
relevant authority in accordance with applicable law such that each Credit Party receives the sum it would have received had no
such deduction or withholding been made and shall also pay to Administrative Agent, for the benefit
of the Credit Parties, on demand, all additional amounts which Administrative Agent specifies
as necessary to preserve the after-tax yield the Credit Parties would have received if such taxes
had not been imposed. Guarantors shall promptly provide Administrative Agent with an original receipt or certified copy issued
by the relevant authority evidencing the payment of any such amount required to be deducted or withheld.

 

Section
3.          No Termination.
This Guaranty is a continuing and irrevocable guaranty of all Guaranteed Obligations now or hereafter existing and shall remain
in full force and effect until all Guaranteed Obligations and any other amounts payable under this Guaranty are indefeasibly paid
and performed in full and any commitments of the Credit Parties or facilities provided by the Credit
Parties with respect to the Guaranteed Obligations are terminated. All payments under this Guaranty shall be made at Administrative
Agent’s Office in Dollars.

 

Section
4.          Waiver of Notices.
Each Guarantor waives notice of the acceptance of this Guaranty and of the extension or continuation of the Guaranteed Obligations
or any part thereof. Each Guarantor further waives presentment, protest, notice, dishonor or default, demand for payment, notice
of intent to accelerate, notice of acceleration, and any other notices to which any Guarantor might otherwise be entitled.

 

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Section
5.          NO SUBROGATION. No Guarantor shall exercise any
right of subrogation, contribution, or similar rights with respect to any payments it makes under this Guaranty until all of the
Guaranteed Obligations and any amounts payable under this Guaranty are indefeasibly paid and performed in full and any commitments
of the Credit Parties or facilities provided by the Credit Parties
with respect to the Guaranteed Obligations are terminated. If any amounts are paid to any Guarantor in violation of the
foregoing limitation, then such amounts shall be held in trust for the benefit of the Credit Parties
and shall forthwith be paid to Administrative Agent, for the benefit of the Credit Parties, to
reduce the amount of the Guaranteed Obligations, whether matured or unmatured.

 

Section
6.          Waiver of Suretyship
Defenses. Each Guarantor agrees that the Credit Parties may, at any time and from time to time, and without notice to
Guarantors, make any agreement with Borrower or with any other person or entity liable on any of the Guaranteed Obligations or
providing collateral as security for the Guaranteed Obligations, for the extension, renewal, payment, compromise, discharge, or
release of the Guaranteed Obligations or any collateral (in whole or in part), or for any modification or amendment of the terms
thereof or of any instrument or agreement evidencing the Guaranteed Obligations or the provision of collateral, all without in
any way impairing, releasing, discharging, or otherwise affecting the obligations of any Guarantor under this Guaranty. Each Guarantor
waives any defense arising by reason of any disability or other defense of Borrower or any other guarantor, or the cessation from
any cause whatsoever of the liability of Borrower, or any claim that any Guarantor’s obligations exceed or are more burdensome
than those of Borrower and waives the benefit of any statute of limitations affecting the liability of any Guarantor hereunder.
Each Guarantor waives any right to enforce any remedy which such Guarantor now has or may hereafter
have against Borrower and waives any benefit of and any right to participate in any security now or hereafter held by Administrative
Agent for the benefit of the Credit Parties. Further, each Guarantor consents to the taking of, or failure to take, any action
which might in any manner or to any extent vary the risks of such Guarantor under this Guaranty or which, but for this provision,
might operate as a discharge of such Guarantor.

 

Section
7.          Exhaustion
of Other Remedies Not Required. The obligations of each Guarantor hereunder are those of primary obligor, and not merely
as surety, and are independent of the Guaranteed Obligations. Each Guarantor waives diligence by any
of the Credit Parties and action on delinquency in respect of the Guaranteed Obligations or any part thereof, including,
without limitation any provisions of law requiring any Credit Party to exhaust any right or remedy
or to take any action against Borrower, any other guarantor, or any other person, entity, or property before enforcing this Guaranty
against any Guarantor.

 

Section
8.          Reinstatement.
Notwithstanding anything in this Guaranty to the contrary, this Guaranty shall continue to be effective or be reinstated, as the
case may be, if at any time any payment of any portion of the Guaranteed Obligations (including pursuant to any settlement entered
into by a Credit Party in its discretion) is revoked, terminated, rescinded, or reduced or must otherwise be restored or returned
upon the insolvency, bankruptcy, or reorganization of Borrower or any other person or entity or otherwise, as if such payment had
not been made and whether or not Administrative Agent is in possession of or has released this
Guaranty and regardless of any prior revocation, rescission, termination or reduction.

 

Section
9.          Subordination.
Each Guarantor hereby expressly subordinates the payment of all obligations and indebtedness of Borrower owing to such Guarantor,
whether now existing or hereafter arising and whether those obligations are (a) direct, indirect,
fixed, contingent, liquidated, unliquidated, joint, several, or joint and several, (b) due or to become due to such Guarantor,
(c) held by or are to be held by such Guarantor, (d) created directly or acquired by assignment or otherwise, or (e) evidenced
in writing (collectively, the “Subordinated Debt”) to the indefeasible payment in full of all
Guaranteed Obligations. Each Guarantor agrees not to accept any payment in respect of such Subordinated
Debt from Borrower if a Default exists. If any Guarantor receives any payment in respect of any Subordinated Debt in violation
of the foregoing, then such Guarantor shall hold that payment in trust for the Credit Parties and promptly turn it over to Administrative
Agent, for the benefit of the Credit Parties, in the form received (with any necessary endorsements), to be applied in accordance
with the Term Loan Agreement, but without reducing or affecting in any manner the liability of any Guarantor under this
Guaranty.

 

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Section
10.          Information.
Each Guarantor agrees to furnish promptly to Administrative Agent any and all financial or other information regarding such Guarantor
or its property as Administrative Agent may reasonably request in writing.

 

Section
11.          Stay of Acceleration.
In the event that acceleration of the time for payment of any of the Guaranteed Obligations is stayed, upon the insolvency, bankruptcy,
or reorganization of Borrower or any other person or entity, or otherwise, all such amounts shall nonetheless be payable by Guarantors
immediately upon demand by Administrative Agent.

 

Section
12.          INDEMNIFICATION
AND Expenses.

 

(a)          Each
Guarantor agrees to indemnify each Credit Party from and against any and all claims, losses, and liabilities in any way relating
to, growing out of, or resulting from this Guaranty and the transactions contemplated hereby (including, without limitation, enforcement
of this Guaranty), except to the extent such claims, losses, or liabilities result from such Credit Party’s gross negligence
or willful misconduct as finally determined by a court of competent jurisdiction.

 

(b)          Each
Guarantor shall indemnify each Credit Party and each Related Party of any of the Credit Parties (each such Person being called
an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities, and related expenses (including, without limitation, the fees, charges, and disbursements of any counsel for any Indemnitee),
and shall indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be
employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any third party or any Loan Party
arising out of, in connection with, or as a result of (i) the execution or delivery or enforcement of this Guaranty or any
agreement or instrument contemplated hereby, the performance by the parties hereto of their respective obligations hereunder, the
consummation of the transactions contemplated hereby, or, in the case of Administrative Agent and its Related Parties only, the
administration of this Guaranty; or (ii) any actual or prospective claim, litigation, investigation, or proceeding relating
to any of the foregoing, whether based on contract, tort, or any other theory, whether brought by a third party or by any Loan
Party, and regardless of whether any Indemnitee is a party thereto, provided that such indemnity shall not, as to
any Indemnitee and its Related Parties, be available to the extent that such losses, claims, damages, liabilities, or related expenses
are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence
or willful misconduct of such Indemnitee or its Related Parties.

 

(c)          Each
Guarantor shall pay to Administrative Agent upon demand the amount of any and all costs and expenses, including the reasonable
fees and expenses of its counsel and of any experts and agents, that Administrative Agent may incur in connection with the administration
of this Guaranty, including, without limitation, any such costs and expenses incurred in the preservation, protection, or enforcement
of any rights of any Credit Party in any case commenced by or against any Guarantor under the Bankruptcy Code (Title 11, United
States Code) or any similar or successor statute. The obligations of Guarantors under the preceding sentence shall survive termination
of this Guaranty.

 

Section
13.          AMENDMENTS.
No amendment, modification, termination, or waiver of any provision of this Guaranty, and no consent to any departure by any Guarantor
from the terms and conditions hereof, shall in any event be effective unless the same shall be in writing and signed by Administrative
Agent and each Guarantor. Any such waiver or consent shall be effective only in the specific instance and for the specific purpose
for which it was given.

 

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Section
14.           Notices; ELECTRONIC
DELIVERY OF CERTAIN INFORMATION. Documents.

 

(a)          
Any notice or other communication herein required or permitted to be given shall be in writing and shall be in accordance with
the provisions of Section 11.02 of the Term Loan Agreement. All notices or other communications hereunder shall be made
to the applicable address, as follows: (i) if addressed to Administrative Agent, then to the address specified for Administrative
Agent set forth on Schedule 11.02 of the Term Loan Agreement; and (ii) if addressed to any Guarantor, then to the address
as follows: c/o American Realty Capital, 405 Park Avenue, 15th Floor, New York, New York 10022, Attention:
William M. Kahane, Facsimile No.: (646) 861-7812, with a copy to c/o American Realty Capital, 405 Park Avenue, 15th Floor, New
York, New York 10022, Attention: Jesse C. Galloway, Facsimile No.: (646) 861-7804. Any party
to this Guaranty may change its address, telecopier or telephone number for notices and other communications in accordance with
the terms and provisions set forth in Section 11.02(d) of the Term Loan Agreement.

 

(b)          Documents
required to be delivered pursuant to this Guaranty shall be delivered by electronic communication and delivery, including, the
Internet, e-mail or intranet websites to which each of the Credit Parties have access (including a commercial, third-party website
such as www.sec.gov <http://www.sec.gov> or a website sponsored or hosted by Administrative Agent or Borrower) provided that
the foregoing shall not apply to any Credit Party that has notified Administrative Agent and Borrower that it cannot or does not
want to receive electronic communications.  Administrative Agent or Borrower, on behalf of the Guarantors, may, in its discretion,
agree to accept notices and other communications to it hereunder by electronic delivery pursuant to procedures approved by it for
all or particular notices or communications, all in accordance with the terms of the Term Loan Agreement.  Documents or notices
delivered electronically shall be deemed to have been delivered twenty-four (24) hours after the date and time on which Administrative
Agent or Borrower, on behalf of applicable Guarantor, posts such documents or the documents become available on a commercial website
and Administrative Agent or Borrower, on behalf of such Guarantor, notifies each Lender of said posting and provides a link thereto
provided if such notice or other communication is not sent or posted during the normal business hours of the recipient, said posting
date and time shall be deemed to have commenced as of  9:00 a.m. Eastern time on the opening of business on the next Business
Day for the recipient.  Notwithstanding anything contained herein, in every instance each Guarantor shall deliver paper copies
of any documents to any Credit Party that requests such paper copies until a written request to cease delivering paper copies is
given by such Credit Party.  Administrative Agent shall have no obligation to request the delivery of or to maintain paper
copies of the documents delivered electronically, and in any event shall have no responsibility to monitor compliance by any Guarantor
with any such request for delivery.

 

Section
15.          No Waiver; Enforceability.
No failure by any Credit Party to exercise, and no delay in exercising, any right, remedy or power hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any right, remedy or power hereunder preclude any other or
further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any
remedies provided by law or in equity. The unenforceability or invalidity of any provision of this Guaranty shall not affect the
enforceability or validity of any other provision herein.

 

Section
16.          Assignment.
This Guaranty shall: (a) bind each Guarantor and its successors and assigns, provided that no Guarantor may assign its rights or
obligations under this Guaranty without the prior written consent of Administrative Agent (and any attempted assignment without
such consent shall be void); and (b) inure to the benefit of each of the Credit Parties and their respective successors and assigns
and the Credit Parties may, without notice to any Guarantor and without affecting any Guarantor’s obligations hereunder,
assign or sell participations in the Guaranteed Obligations and this Guaranty, in whole or in part. Each Guarantor agrees that
the Credit Parties may disclose to any prospective purchaser and any purchaser of all or part of the Guaranteed Obligations any
and all information in the Credit Parties’ possession concerning any Guarantor, this Guaranty, and any security for this
Guaranty to the extent permitted under, and in compliance with, the terms of the Term Loan Agreement.

 

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Section
17.         Condition of Borrower.
Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from Borrower
such information concerning the financial condition, business, and operations of Borrower as Guarantors require, and that no Credit
Party shall have any duty, and Guarantors are not relying on any Credit Party at any time, to disclose to Guarantors any information
relating to the business, operations, or financial condition of Borrower.

 

Section
18.         RIGHTS OF SETOFF.
If and to the extent any payment is not made when due hereunder, then Administrative Agent and each other Credit Party (with the
prior consent of Administrative Agent) may setoff and charge from time to time any amount so due against any or all of Guarantors’
accounts or deposits with Administrative Agent or such other Credit Party.

 

Section
19.         Other Guarantees.
Unless otherwise agreed by Administrative Agent, the applicable Credit Party and Guarantors in writing, this Guaranty is not intended
to supersede or otherwise affect any other guaranty now or hereafter given by Guarantors for the benefit of the Credit Parties
or any term or provision thereof.

 

Section
20.         REPRESENTATIONS
AND WARRANTIES; LOAN DOCUMENTS. By execution hereof, each
Guarantor covenants and agrees that certain representations, warranties, terms, covenants, and conditions set forth in the Loan
Documents are applicable by their terms to such Guarantor and shall be imposed upon such Guarantor, and each Guarantor reaffirms
that each such representation and warranty is true and correct and covenants and agrees to promptly and properly perform, observe,
and comply with each such term, covenant, or condition. Moreover, each Guarantor acknowledges and agrees that this Guaranty is
subject to the setoff provisions as noted in Section 18 above in favor of the Credit Parties. In the event the Term Loan Agreement
or any other Loan Document shall cease to remain in effect for any reason whatsoever during any period when any part of the Guaranteed
Obligations remains unpaid, such terms, covenants, and agreements of the Term Loan Agreement or such other Loan Document incorporated
herein by this reference and which are, by their terms, made applicable to any Guarantors shall nevertheless continue in full force
and effect as obligations of each Guarantor under this Guaranty.

 

Section
21.         Additional Guarantors.
The initial Guarantors hereunder shall be each of the Subsidiary Guarantors of Borrower that are signatories hereto and that are
listed on Schedule 1 attached hereto. From time to time subsequent to the date hereof, additional Subsidiary Guarantors
of Borrower may become parties hereto as additional Guarantors (each an “Additional Guarantor”) by executing
a counterpart of this Guaranty in the form of Exhibit A attached hereto. Upon delivery of any such counterpart to
Administrative Agent, notice of which is hereby waived by Guarantors, each such Additional Guarantor shall be a Guarantor and shall
be a party hereto as if such Additional Guarantor were an original signatory hereof. Each Guarantor expressly agrees that its obligations
arising hereunder shall not be affected or diminished by the addition or release of any other Guarantor hereunder, or by any election
by Administrative Agent not to cause any Subsidiary Guarantor of Borrower to become an Additional Guarantor hereunder. Subject
to Section 22, this Guaranty shall be fully effective as to any Guarantor that is or becomes a party hereto regardless of whether
any such person becomes or fails to become or ceases to be a Guarantor hereunder.

 

Section
22.         Release of Guarantors.
Subject to Section 10.10 of the Term Loan Agreement, a Guarantor may be released from its obligations under this Guaranty
by Administrative Agent’s execution of a Release of Guaranty in the form of Exhibit B attached hereto. Each
Guarantor expressly agrees that its obligations arising hereunder shall not be affected or diminished by the release of any other
Guarantor hereunder.

 

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Section
23.          GOVERNING LAW; JURISDICTION; ETC.

 

(a)          GOVERNING
LAW.         THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAW OF THE STATE OF NEW YORK.

 

(b)          SUBMISSION
TO JURISDICTION. EACH GUARANTOR IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION
OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT
OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY
OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT
IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY
OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS GUARANTY OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY CREDIT PARTY
MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS GUARANTY OR ANY OTHER LOAN DOCUMENT AGAINST ANY GUARANTOR
OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

 

(c)          WAIVER
OF VENUE. EACH GUARANTOR IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION
THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY
OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN SECTION 23(b). EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION
OR PROCEEDING IN ANY SUCH COURT.

 

(d)          SERVICE
OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02
OF THE TERM LOAN AGREEMENT. NOTHING IN THIS GUARANTY WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER
MANNER PERMITTED BY APPLICABLE LAW.

 

(e)          Waiver
of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS GUARANTY OR ANY
OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS GUARANTY AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 23.

 

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Section
24.         Counterparts.
This Guaranty may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.

 

Section
25.         ACKNOWLEDGMENT OF BENEFITS; CONTRIBUTION; EFFECT OF AVOIDANCE
PROVISIONS. 

 

(a) Each Guarantor
acknowledges that it has received, or will receive, significant financial and other benefits, either directly or indirectly, from
the proceeds of the Loans made by the Lenders to the Borrower pursuant to the Term Loan Agreement; that the benefits received by
such Guarantor are reasonably equivalent consideration for such Guarantor's execution of this Guaranty; and that such benefits
include, without limitation, the access to capital afforded to the Borrower pursuant to the Term Loan Agreement from which the
activities of such Guarantor will be supported, the refinancing of certain existing indebtedness of Borrower and such Guarantor
secured by such Guarantor’s Borrowing Base Properties from the proceeds of the Loans, and the ability to refinance that indebtedness
at a lower interest rate and otherwise on more favorable terms than would be available to it if the Borrowing Base Properties owned
by such Guarantor’s were being financed on a stand-alone basis and not as part of a pool of assets comprising the security
for the Obligations. Each Guarantor is executing this Guaranty and the other Loan Documents in consideration of those benefits
received by it.

 

(b)          Each
Guarantor hereby agrees as among themselves that, in connection with payments made hereunder, each Guarantor shall have a right
of contribution from each other Guarantor in accordance with applicable Law.  Such contribution rights shall be subordinate
and subject in right of payment to the Guaranteed Obligations until such time as the Guaranteed Obligations have been indefeasibly
and irrevocably paid in full, and none of the Guarantors shall exercise any such contribution rights until the Guaranteed Obligations
have been indefeasibly and irrevocably paid in full.

 

(c)          It
is the intent of each Guarantor, the Administrative Agent and the Lenders that in any proceeding under any Debtor Relief Laws,
such Guarantor's maximum obligation hereunder shall equal, but not exceed, the maximum amount which would not otherwise cause the
obligations of such Guarantor hereunder (or any other obligations of such Guarantor to the Administrative Agent and the other Lenders
under the Loan Documents) to be avoidable or unenforceable against such Guarantor in such proceeding as a result of applicable
Laws, including, without limitation, (i) Section 548 of the Bankruptcy Code of the United States and (ii) any state fraudulent
transfer or fraudulent conveyance act or statute applied in such proceeding, whether by virtue of Section 544 of the Bankruptcy
Code of the United States or otherwise. The Laws under which the possible avoidance or unenforceability of the obligations of such
Guarantor hereunder (or any other obligations of such Guarantor to the Administrative Agent and the other Lenders under the Loan
Documents) shall be determined in any such proceeding are referred to herein as "Avoidance Provisions". Accordingly,
to the extent that the obligations of a Guarantor hereunder would otherwise be subject to avoidance under the Avoidance Provisions,
the maximum Guaranteed Obligations for which such Guarantor shall be liable hereunder shall be reduced to the greater of (A) the
amount which, as of the time any of the Guaranteed Obligations are deemed to have been incurred by such Guarantor under the Avoidance
Provisions, would not cause the obligations of such Guarantor hereunder (or any other obligations of such Guarantor to the Administrative
Agent and the other Lenders under the Loan Documents), to be subject to avoidance under the Avoidance Provisions or (B) the amount
which, as of the time demand is made hereunder upon such Guarantor for payment on account of the Guaranteed Obligations, would
not cause the obligations of such Guarantor hereunder (or any other obligations of such Guarantor to the Administrative Agent and
the Lenders under the Loan Documents), to be subject to avoidance under the Avoidance Provisions. In determining the limitations,
if any, on the amount of any Guarantor’s obligations hereunder pursuant to the preceding sentence, it is the intention of
the parties hereto that any rights of subrogation, indemnification or contribution which such Guarantor may have under this Guaranty,
any other agreement or applicable law shall be taken into account. The provisions under this Section are intended solely to preserve
the rights of the Administrative Agent and the Lenders hereunder to the maximum extent that would not cause the obligations of
any Guarantor hereunder to be subject to avoidance under the Avoidance Provisions, and no Guarantor or any other Person shall have
any right or claim under this Section as against the Administrative Agent and the Lenders that would not otherwise be available
to such Person under the Avoidance Provisions.

 

    	Page 8

    	 

    

 

Section
26.         AMENDMENT AND RESTATEMENT;
NO NOVATION OF EXISTING GUARANTY. This Guaranty amends and restates in its entirety the Existing Guaranty and this Guaranty
is in no way intended to constitute a novation of any obligations owed by Guarantors to the Credit Parties (as defined in the Existing
Guaranty) under the Existing Guaranty, all of which are hereby reaffirmed, ratified and confirmed.

 

Section
27.         GENERAL AFFIRMATION
OF LOAN DOCUMENTS. Each of the undersigned hereby (a) acknowledges and consents to the execution and delivery of the
Term Loan Agreement by the parties thereto and the execution and delivery of each of the instruments, documents and agreements
required in connection therewith, (b) agrees that the Term Loan Agreement and the transactions contemplated thereby shall not limit
or diminish the obligations of such Person arising under or pursuant to the Loan Documents (as defined in the Existing Term Loan
Agreement) to which it is a party, (c) reaffirms all of its obligations under the Loan Documents (as defined in the Existing Term
Loan Agreement) to which it is a party, and (d) acknowledges and agrees that each Loan Document (as
defined in the Existing Term Loan Agreement) executed by it remains in full force and effect and is hereby reaffirmed, ratified
and confirmed.

 

Section
28.         FINAL AGREEMENT. This
Guaranty and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and
supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. there are
no unwritten oral agreements between the parties.

 

[Remainder of Page Intentionally Left
Blank;

Signature Pages Follow]

 

    	Page 9

    	 

    

 

 

IN WITNESS WHEREOF,
each Guarantor and Administrative Agent have caused this Guaranty to be duly executed and delivered as of the date first written
above.

 

GUARANTORS:

 

	ARC ARABLOH001, LLC
	ARC ARABRNC001, LLC
	ARC ARBYCMI001, LLC
	ARC ARCBYPA001, LLC
	ARC ARCTDNY001, LLC
	ARC ARGIDNE001, LLC
	ARC ARHDNFL001, LLC
	ARC ARKTGOH001, LLC
	ARC ARMLNSC001, LLC
	ARC AROCTNY001, LLC
	ARC ARPBLCO001, LLC
	ARC ARPCLFL001, LLC
	ARC ARPHRFL001, LLC
	ARC ARPQAOH001, LLC
	ARC ARRLDMS001, LLC
	ARC ARRTDNY001, LLC
	ARC ARSPHFL001,LLC
	ARC ARVCTTX001, LLC
	ARC AZCLBSC001, LLC
	ARC BFCHSVA001, LLC
	ARC BFDRDMO001, LLC
	ARC BFEDMOK001, LLC
	ARC BFMDBFL001, LLC
	ARC BFMWKWI001, LLC
	ARC BFNRFNJ001, LLC
	ARC BFOKCOK001, LLC, each a Delaware limited liability company

 

	By:	/s/ Jesse C. Galloway	 
	Name: Jesse C. Galloway	 
	Title: Authorized Signatory	 

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

 

    	 

    	 

    

 

	
ARC BFOWAOK001, LLC
	ARC BFTULOK001, LLC
	ARC BFYKNOK001, LLC
	ARC BJBBGSC001, LLC
	ARC BJBUFGA001, LLC
	ARC BJGRFNC001, LLC
	ARC BJHLBNC001,LLC
	ARC BJHPTNC001, LLC
	ARC BJHWLGA001, LLC
	ARC BJINMSC001, LLC
	ARC BJLNCNC001, LLC
	ARC BJNPTAL001, LLC
	ARC BJPDNSC001, LLC
	ARC BJRFDNC001, LLC
	ARC BJTSVNC001, LLC
	ARC BJWKTNC001, LLC
	ARC BSPSCAR001, LLC
	ARC CAOMHNE001, LLC
	ARC CCALBGA001, LLC
	ARC CVCHSNY001, LLC
	ARC CVDRYFL001, LLC
	ARC CVRKRNC001, LLC
	ARC DDBLKID001, LLC
	ARC DDENTAL001, LLC
	ARC DDSLVPA001, LLC
	ARC DFLVPIL001, LLC
	ARC DFWCHKS001, LLC
	ARC DGABBLA001, LLC
	ARC DGADLAL001, LLC
	ARC DGALSMI001, LLC
	ARC DGBKYMI001, LLC
	ARC DGBMNOH001, LLC
	ARC DGBMTTX001, LLC
	ARC DGBNTMO001, LLC
	ARC DGBSMAL001, LLC
	ARC DGBSNKY001, LLC
	ARC DGCATIL001, LLC
	ARC DGCCPMO001, LLC, each a Delaware limited liability company

 

	By:	/s/ Jesse C. Galloway	 
	Name: Jesse C. Galloway	 
	Title: Authorized Signatory	 

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

 

    	 

    	 

    

 

	ARC DGCDNOH001, LLC
	ARC DGCLBIL001, LLC
	ARC DGCNTMI001, LLC
	ARC DGCPCTX001, LLC
	ARC DGCPMMI001, LLC
	ARC DGCRGIL001, LLC
	ARC DGCVLAL001, LLC
	ARC DGDRNKY001, LLC
	ARC DGDSNLA001, LLC
	ARC DGDTNOH001, LLC
	ARC DGELSTX001, LLC
	ARC DGFLNLA001, LLC
	ARC DGFYTOH001, LLC
	ARC DGGDNMI001, LLC
	ARC DGGNSTX001, LLC
	ARC DGIWNGA001, LLC
	ARC DGJSNMO001, LLC
	ARC DGJSPAL001, LLC
	ARC DGJSPAL002, LLC
	ARC DGJSPAL003, LLC
	ARC DGKGNOH001, LLC
	ARC DGLFTLA001, LLC
	ARC DGLRHFL001, LLC
	ARC DGLTCMI001, LLC
	ARC DGLVLLA001, LLC
	ARC DGMCLMI001, LLC
	ARC DGMLVLA001, LLC
	ARC DGMMTLA001, LLC
	ARC DGMNRLA001, LLC
	ARC DGMTATX001, LLC
	ARC DGCDNOH001, LLC
	ARC DGCLBIL001, LLC
	ARC DGCNTMI001, LLC
	ARC DGCPCTX001, LLC
	ARC DGCPMMI001, LLC
	ARC DGCRGIL001, LLC
	ARC DGCVLAL001, LLC
	ARC DGDRNKY001, LLC
	ARC DGDSNLA001, LLC, each a Delaware limited liability company

 

	By:	/s/ Jesse C. Galloway	 
	Name: Jesse C. Galloway	 
	Title:  Authorized Signatory	 

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

 

    	 

    	 

    

 

	ARC DGMTSIA001, LLC
	ARC DGNMKMI001, LLC
	ARC DGNPTOH001, LLC
	ARC DGOKHOH001, LLC
	ARC DGOLKAL001, LLC
	ARC DGOLSLA001, LLC
	ARC DGOROMO001, LLC
	ARC DGPNKMI001, LLC
	ARC DGPVTLA001, LLC
	ARC DGQNCMO001, LLC
	ARC DGRBLLA001, LLC
	ARC DGSATTX001, LLC
	ARC DGSBTTN001, LLC
	ARC DGSHNMI001, LLC
	ARC DGSLBAL001, LLC
	ARC DGSMTFL001, LLC
	ARC DGSPHMI001, LLC
	ARC DGSSTAL001, LLC
	ARC DGSTJMI001, LLC
	ARC DGSVLOH001, LLC
	ARC DGTBYAL001, LLC
	ARC DGTKSMI001, LLC
	ARC DGUVLMO001, LLC
	ARC DGWLLMI001, LLC
	ARC DGWTLIA001, LLC
	ARC FEBTMMD001, LLC
	ARC FECNTOH001, LLC
	ARC FEEGBNY001, LLC
	ARC FEGRNOH001, LLC
	ARC FENPXAZ001, LLC
	ARC DGMTSIA001, LLC
	ARC DGNMKMI001, LLC
	ARC DGNPTOH001, LLC
	ARC DGOKHOH001, LLC
	ARC DGOLKAL001, LLC
	ARC DGOLSLA001, LLC
	ARC DGOROMO001, LLC
	ARC DGPNKMI001, LLC
	ARC DGPVTLA001, LLC, each a Delaware limited liability company

 

	By:	/s/ Jesse C. Galloway	 
	Name: Jesse C. Galloway	 
	Title: Authorized Signatory	 

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

 

    	 

    	 

    

 

	ARC FESAGMI001, LLC
	ARC FESHRTX001, LLC
	ARC FEWLBNH001, LLC
	ARC GSBRKNY001, LLC
	ARC GSBRNTX001, LLC
	ARC GSCOSCO001, LLC
	ARC GSDALTX001, LLC
	ARC GSEAGTX001, LLC
	ARC GSKNXTN001, LLC
	ARC GSNPRFL001, LLC
	ARC GSPARTX001, LLC
	ARC GSPARWV001, LLC
	ARC GSREDCA001, LLC
	ARC GSSCYIA001, LLC
	ARC GSSVAAZ001, LLC
	ARC HVHVPA0001 GP LLC
	ARC HVLHNPA001 GP LLC
	ARC HVLNDPA001 GP LLC
	ARC HVLNDPA002 GP LLC
	ARC HVLRKPA001 GP LLC
	ARC HVLSDPA001 GP LLC
	ARC HVPMTPA001 GP LLC
	ARC HVSGHPA001 GP LLC
	ARC HVSHPA0001 GP LLC
	ARC HVSPKPA001 GP LLC
	ARC HVSTNPA001 GP LLC
	ARC HVSTNPA002 GP LLC
	ARC HVSVPA0001 GP LLC
	ARC HVWPTPA001 GP LLC
	ARC HVWYMPA001 GP LLC
	ARC FESAGMI001, LLC
	ARC FESHRTX001, LLC
	ARC FEWLBNH001, LLC
	ARC GSBRKNY001, LLC
	ARC GSBRNTX001, LLC
	ARC GSCOSCO001, LLC
	ARC GSDALTX001, LLC
	ARC GSEAGTX001, LLC, each a Delaware limited liability company

 

	By:	/s/ Jesse C. Galloway	 
	Name: Jesse C. Galloway	 
	Title: Authorized Signatory	 

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

 

    	 

    	 

    

 

	ARC IHBRGLA001, LLC
	ARC IHSAL0R001, LLC
	ARC JJAMHNY001, LLC
	ARC JJPLYMA001, LLC
	ARC JJWATNJ001, LLC
	ARC KGADRIA001, LLC
	ARC KGBLVMO001, LLC
	ARC KGBLVMO002, LLC
	ARC KGFGRMO001, LLC
	ARC KGHLSMO001, LLC
	ARC KGMNTMO001, LLC
	ARC KGNLAIA001, LLC
	ARC KGSPFMO001, LLC
	ARC KGSPFMO002, LLC
	ARC KGSPFMO003, LLC
	ARC KGSPFMO004, LLC
	ARC KGSPFMO005, LLC
	ARC KGSPFMO006, LLC
	ARC KGSPFMO007, LLC
	ARC KGSPFMO008, LLC
	ARC KGWYVMO001, LLC
	ARC LWAUGGA001, LLC
	ARC MBOKCOK001, LLC
	ARC MBWESTX001, LLC
	ARC NTDLVGA001, LLC
	ARC NTKNSGA001, LLC
	ARC NTLBNGA001, LLC
	ARC ORBVAMI001, LLC
	ARC ORRSVMI001, LLC, each a Delaware limited liability company

 

	By:	/s/ Jesse C. Galloway	 
	Name: Jesse C. Galloway	 
	Title: Authorized Signatory	 

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

 

    	 

    	 

    

 

	ARC ORSGNMI001, LLC
	ARC ORWFDMI001, LLC
	ARC PBLVGNV001, LLC
	ARC PBNWLPA001, LLC
	ARC PBSTKCA001, LLC
	ARC PMOTTIL001, LLC
	ARC RNAUGGA001, LLC
	ARC RNDKSTN001, LLC
	ARC RNKSCKS001, LLC
	ARC RNMPHTN001, LLC
	ARC RNNAUSC001, LLC
	ARC RNNCSIN001, LLC
	ARC RNSMPTN001, LLC
	ARC RNSVLGA001, LLC
	ARC RNVLDGA001, LLC
	ARC SEBRDFL001, LLC
	ARC SEMTDFL001, LLC
	ARC TJPTLME001, LLC
	ARC TPCANNY001, LLC
	ARC TSFRCSC001, LLC
	ARC TSKMZMI001, LLC
	ARC TSMDNGA001, LLC
	ARC TSPTKCT001, LLC
	ARC USMNEMN001, LLC
	ARC VACLDID001, LLC
	ARC WGACWGA001, LLC
	ARC WGANGNY001, LLC
	ARC WGBKLNY001 LLC
	ARC WGBKLNY002 LLC
	ARC WGELKIN001, LLC, each a Delaware limited liability company

 

	By:	/s/ Jesse C. Galloway	 
	Name: Jesse C. Galloway	 
	Title: Authorized Signatory	 

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

 

    	 

    	 

    

 

ARC WGFSTMS001, LLC

ARC WGLSPGA001, LLC

ARC WGMRCLA001, LLC

ARC WGPTHNY001 LLC

ARC WGQNSNY001 LLC

ARC WGQNSNY002 LLC

ARC WGQNSNY003 LLC

ARC WMEBBPA001, LLC

ARC WPMRNOH001, LLC

CRE JV Mixed Five IL 1 Branch Holdings LLC

ARC FEHOUTX 001, LLC

ARC JBDESMO001, LLC

ARC JBTDAOR001, LLC

ARC JBCCRTX001, LLC

ARC JBVANWA001, LLC

ARC JBHOUTX001, LLC

ARC WGBYRMS001, LLC

ARC WGIRDNY001, LLC

ARC WGPYNNY001, LLC

ARC WRELPTX001, LLC

ARC WPIACIA001, LLC

ARC GEMSKWI001, LLC

ARC LMLUFTX001, LLC

ARC FESPKWA001, LLC

ARC VZHRMMD001, LLC

ARC RRBDFTX001, LLC

ARC ROC17MA LLC

ARC PANJOH54 LLC

ARC ROCK17MA Member LLC

ARC PANJOH54 Member LLC

ARC PA-QRS Trust Member LLC, each a Delaware limited liability
company

 

	By:	/s/ Jesse C. Galloway	 
	 	Name: Jesse C. Galloway 	 
	 	Title: Authorized Signatory 	 

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

 

    	 

    	 

    

 

ARC PA-QRS Trust, a Virginia business trust

 

	By:	/s/ Jesse C. Galloway	 
	 	Name: Jesse C. Galloway 	 
	 	Title: Authorized Signatory 	 

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

 

    	 

    	 

    

 

ADMINISTRATIVE AGENT:

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION
	 	 	 	 
	 	 	By:	/s/ D. Bryan Gregory
	 	 	Name: D. Bryan Gregory
	 	 	Title: Director

 

Signature Page to

Amended and Restated Subsidiary Guaranty
Agreement

  

    	 

    	 

    

 

SCHEDULE 1

INITIAL GUARANTORS

 

	ARC ARABLOH001, LLC
	ARC ARABRNC001, LLC
	ARC ARBYCMI001, LLC
	ARC ARCBYPA001, LLC
	ARC ARCTDNY001, LLC
	ARC ARGIDNE001, LLC
	ARC ARHDNFL001, LLC
	ARC ARKTGOH001, LLC
	ARC ARMLNSC001, LLC
	ARC AROCTNY001, LLC
	ARC ARPBLCO001, LLC
	ARC ARPCLFL001, LLC
	ARC ARPHRFL001, LLC
	ARC ARPQAOH001, LLC
	ARC ARRLDMS001, LLC
	ARC ARRTDNY001, LLC
	ARC ARSPHFL001,LLC
	ARC ARVCTTX001, LLC
	ARC AZCLBSC001, LLC
	ARC BFCHSVA001, LLC
	ARC BFDRDMO001, LLC
	ARC BFEDMOK001, LLC
	ARC BFMDBFL001, LLC
	ARC BFMWKWI001, LLC
	ARC BFNRFNJ001, LLC
	ARC BFOKCOK001, LLC
	ARC BFOWAOK001, LLC
	ARC BFTULOK001, LLC
	ARC BFYKNOK001, LLC
	ARC BJBBGSC001, LLC
	ARC BJBUFGA001, LLC
	ARC BJGRFNC001, LLC
	ARC BJHLBNC001,LLC
	ARC BJHPTNC001, LLC
	ARC BJHWLGA001, LLC
	ARC BJINMSC001, LLC
	ARC BJLNCNC001, LLC
	ARC BJNPTAL001, LLC
	ARC BJPDNSC001, LLC
	ARC BJRFDNC001, LLC

 

Schedule 1

 

    	 

    	 

    

 

	ARC BJTSVNC001, LLC
	ARC BJWKTNC001, LLC
	ARC BSPSCAR001, LLC
	ARC CAOMHNE001, LLC
	ARC CCALBGA001, LLC
	ARC CVCHSNY001, LLC
	ARC CVDRYFL001, LLC
	ARC CVRKRNC001, LLC
	ARC DDBLKID001, LLC
	ARC DDENTAL001, LLC
	ARC DDSLVPA001, LLC
	ARC DFLVPIL001, LLC
	ARC DFWCHKS001, LLC
	ARC DGABBLA001, LLC
	ARC DGADLAL001, LLC
	ARC DGALSMI001, LLC
	ARC DGBKYMI001, LLC
	ARC DGBMNOH001, LLC
	ARC DGBMTTX001, LLC
	ARC DGBNTMO001, LLC
	ARC DGBSMAL001, LLC
	ARC DGBSNKY001, LLC
	ARC DGCATIL001, LLC
	ARC DGCCPMO001, LLC
	ARC DGCDNOH001, LLC
	ARC DGCLBIL001, LLC
	ARC DGCNTMI001, LLC
	ARC DGCPCTX001, LLC
	ARC DGCPMMI001, LLC
	ARC DGCRGIL001, LLC
	ARC DGCVLAL001, LLC
	ARC DGDRNKY001, LLC
	ARC DGDSNLA001, LLC
	ARC DGDTNOH001, LLC
	ARC DGELSTX001, LLC
	ARC DGFLNLA001, LLC
	ARC DGFYTOH001, LLC
	ARC DGGDNMI001, LLC
	ARC DGGNSTX001, LLC
	ARC DGIWNGA001, LLC
	ARC DGJSNMO001, LLC
	ARC DGJSPAL001, LLC

 

Schedule 1

 

    	 

    	 

    

 

	ARC DGJSPAL002, LLC
	ARC DGJSPAL003, LLC
	ARC DGKGNOH001, LLC
	ARC DGLFTLA001, LLC
	ARC DGLRHFL001, LLC
	ARC DGLTCMI001, LLC
	ARC DGLVLLA001, LLC
	ARC DGMCLMI001, LLC
	ARC DGMLVLA001, LLC
	ARC DGMMTLA001, LLC
	ARC DGMNRLA001, LLC
	ARC DGMTATX001, LLC
	ARC DGCDNOH001, LLC
	ARC DGCLBIL001, LLC
	ARC DGCNTMI001, LLC
	ARC DGCPCTX001, LLC
	ARC DGCPMMI001, LLC
	ARC DGCRGIL001, LLC
	ARC DGCVLAL001, LLC
	ARC DGDRNKY001, LLC
	ARC DGDSNLA001, LLC
	ARC DGMTSIA001, LLC
	ARC DGNMKMI001, LLC
	ARC DGNPTOH001, LLC
	ARC DGOKHOH001, LLC
	ARC DGOLKAL001, LLC
	ARC DGOLSLA001, LLC
	ARC DGOROMO001, LLC
	ARC DGPNKMI001, LLC
	ARC DGPVTLA001, LLC
	ARC DGQNCMO001, LLC
	ARC DGRBLLA001, LLC
	ARC DGSATTX001, LLC
	ARC DGSBTTN001, LLC
	ARC DGSHNMI001, LLC
	ARC DGSLBAL001, LLC
	ARC DGSMTFL001, LLC
	ARC DGSPHMI001, LLC
	ARC DGSSTAL001, LLC
	ARC DGSTJMI001, LLC
	ARC DGSVLOH001, LLC
	ARC DGTBYAL001, LLC

 

Schedule 1

 

    	 

    	 

    

 

	ARC DGTKSMI001, LLC
	ARC DGUVLMO001, LLC
	ARC DGWLLMI001, LLC
	ARC DGWTLIA001, LLC
	ARC FEBTMMD001, LLC
	ARC FECNTOH001, LLC
	ARC FEEGBNY001, LLC
	ARC FEGRNOH001, LLC
	ARC FENPXAZ001, LLC
	ARC DGMTSIA001, LLC
	ARC DGNMKMI001, LLC
	ARC DGNPTOH001, LLC
	ARC DGOKHOH001, LLC
	ARC DGOLKAL001, LLC
	ARC DGOLSLA001, LLC
	ARC DGOROMO001, LLC
	ARC DGPNKMI001, LLC
	ARC DGPVTLA001, LLC
	ARC FESAGMI001, LLC
	ARC FESHRTX001, LLC
	ARC FEWLBNH001, LLC
	ARC GSBRKNY001, LLC
	ARC GSBRNTX001, LLC
	ARC GSCOSCO001, LLC
	ARC GSDALTX001, LLC
	ARC GSEAGTX001, LLC
	ARC GSKNXTN001, LLC
	ARC GSNPRFL001, LLC
	ARC GSPARTX001, LLC
	ARC GSPARWV001, LLC
	ARC GSREDCA001, LLC
	ARC GSSCYIA001, LLC
	ARC GSSVAAZ001, LLC
	ARC HVHVPA0001 GP LLC
	ARC HVLHNPA001 GP LLC
	ARC HVLNDPA001 GP LLC
	ARC HVLNDPA002 GP LLC
	ARC HVLRKPA001 GP LLC
	ARC HVLSDPA001 GP LLC
	ARC HVPMTPA001 GP LLC
	ARC HVSGHPA001 GP LLC
	ARC HVSHPA0001 GP LLC
	ARC HVSPKPA001 GP LLC
	ARC HVSTNPA001 GP LLC

 

Schedule 1

 

    	 

    	 

    

 

	ARC HVSTNPA002 GP LLC
	ARC HVSVPA0001 GP LLC
	ARC HVWPTPA001 GP LLC
	ARC HVWYMPA001 GP LLC
	ARC FESAGMI001, LLC
	ARC FESHRTX001, LLC
	ARC FEWLBNH001, LLC
	ARC GSBRKNY001, LLC
	ARC GSBRNTX001, LLC
	ARC GSCOSCO001, LLC
	ARC GSDALTX001, LLC
	ARC GSEAGTX001, LLC
	ARC IHBRGLA001, LLC
	ARC IHSAL0R001, LLC
	ARC JJAMHNY001, LLC
	ARC JJPLYMA001, LLC
	ARC JJWATNJ001, LLC
	ARC KGADRIA001, LLC
	ARC KGBLVMO001, LLC
	ARC KGBLVMO002, LLC
	ARC KGFGRMO001, LLC
	ARC KGHLSMO001, LLC
	ARC KGMNTMO001, LLC
	ARC KGNLAIA001, LLC
	ARC KGSPFMO001, LLC
	ARC KGSPFMO002, LLC
	ARC KGSPFMO003, LLC
	ARC KGSPFMO004, LLC
	ARC KGSPFMO005, LLC
	ARC KGSPFMO006, LLC
	ARC KGSPFMO007, LLC
	ARC KGSPFMO008, LLC
	ARC KGWYVMO001, LLC
	ARC LWAUGGA001, LLC
	ARC MBOKCOK001, LLC
	ARC MBWESTX001, LLC
	ARC NTDLVGA001, LLC
	ARC NTKNSGA001, LLC
	ARC NTLBNGA001, LLC
	ARC ORBVAMI001, LLC
	ARC ORRSVMI001, LLC
	ARC ORSGNMI001, LLC
	ARC ORWFDMI001, LLC
	ARC PBLVGNV001, LLC

 

Schedule 1

 

    	 

    	 

    

 

	ARC PBNWLPA001, LLC
	ARC PBSTKCA001, LLC
	ARC PMOTTIL001, LLC
	ARC RNAUGGA001, LLC
	ARC RNDKSTN001, LLC
	ARC RNKSCKS001, LLC
	ARC RNMPHTN001, LLC
	ARC RNNAUSC001, LLC
	ARC RNNCSIN001, LLC
	ARC RNSMPTN001, LLC
	ARC RNSVLGA001, LLC
	ARC RNVLDGA001, LLC
	ARC SEBRDFL001, LLC
	ARC SEMTDFL001, LLC
	ARC TJPTLME001, LLC
	ARC TPCANNY001, LLC
	ARC TSFRCSC001, LLC
	ARC TSKMZMI001, LLC
	ARC TSMDNGA001, LLC
	ARC TSPTKCT001, LLC
	ARC USMNEMN001, LLC
	ARC VACLDID001, LLC
	ARC WGACWGA001, LLC
	ARC WGANGNY001, LLC
	ARC WGBKLNY001 LLC
	ARC WGBKLNY002 LLC
	ARC WGELKIN001, LLC
	ARC WGFSTMS001, LLC
	ARC WGLSPGA001, LLC
	ARC WGMRCLA001, LLC
	ARC WGPTHNY001 LLC
	ARC WGQNSNY001 LLC
	ARC WGQNSNY002 LLC
	ARC WGQNSNY003 LLC
	ARC WMEBBPA001, LLC
	ARC WPMRNOH001, LLC
	CRE JV Mixed Five IL 1 Branch Holdings LLC
	ARC FEHOUTX 001, LLC
	ARC JBDESMO001, LLC
	ARC JBTDAOR001, LLC
	ARC JBCCRTX001, LLC
	ARC JBVANWA001, LLC
	ARC JBHOUTX001, LLC
	ARC WGBYRMS001, LLC

 

Schedule 1

 

    	 

    	 

    

 

	ARC WGIRDNY001, LLC
	ARC WGPYNNY001, LLC
	ARC WRELPTX001, LLC
	ARC WPIACIA001, LLC
	ARC GEMSKWI001, LLC
	ARC LMLUFTX001, LLC
	ARC FESPKWA001, LLC
	ARC VZHRMMD001, LLC
	ARC RRBDFTX001, LLC
	ARC ROC17MA LLC
	ARC PANJOH54 LLC
	ARC ROCK17MA Member LLC
	ARC PANJOH54 Member LLC
	ARC PA-QRS Trust Member LLC
	ARC PA-QRS Trust,

 

Schedule 1

 

 

    	 

    	 

    

 

EXHIBIT A

 

COUNTERPART TO AMENDED AND RESTATED SUBSIDIARY
GUARANTY AGREEMENT

 

In witness whereof,
the undersigned Additional Guarantor has caused this Amended and Restated Subsidiary Guaranty Agreement to be executed and delivered
by its officer thereunto duly authorized as of ______________ ____, 20___.

 

	 	 
	 	[NAME OF ADDITIONAL GUARANTOR]
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

Exhibit A

  

    	 

    	 

    

 

EXHIBIT B

 

FORM OF RELEASE OF GUARANTOR

 

In witness whereof, the undersigned Administrative
Agent, on behalf of the Credit Parties, hereby releases and discharges ____________________ from any and all obligations and liabilities
of ____________________ to the Credit Parties under that certain Amended and Restated Subsidiary Guaranty Agreement dated as of
July 2, 2012 executed by the Subsidiary Guarantors of American Realty Capital Operating Partnership, LP, a Delaware limited partnership,
described therein in favor of Administrative Agent for the benefit of the Credit Parties.

 

Wells Fargo Bank, National Association, as Administrative Agent

 

	By:	 	 
	 	Name:	 	 
	 	Title:	 	 

 

Exhibit BNEKTAR THERAPEUTICS

2012 PERFORMANCE INCENTIVE PLAN

 

1.PURPOSE
OF PLAN

 

The
purpose of this Nektar Therapeutics 2012 Performance Incentive Plan (this “Plan”) of Nektar Therapeutics, a
Delaware corporation (the “Corporation”), is to promote the success of the Corporation and to increase stockholder
value by providing an additional means through the grant of awards to attract, motivate, retain and reward selected employees and
other eligible persons. 

 

2.ELIGIBILITY

 

The Administrator (as such term
is defined in Section 3.1) may grant awards under this Plan only to those persons that the Administrator determines to be Eligible
Persons. An “Eligible Person” is any person who is either: (a) an officer (whether or not a director) or employee
of the Corporation or one of its Subsidiaries; (b) a director of the Corporation or one of its Subsidiaries; or (c) an individual
consultant or advisor who renders or has rendered bona fide services (other than services in connection with the offering or sale
of securities of the Corporation or one of its Subsidiaries in a capital-raising transaction or as a market maker or promoter of
securities of the Corporation or one of its Subsidiaries) to the Corporation or one of its Subsidiaries and who is selected to
participate in this Plan by the Administrator; provided, however, that a person who is otherwise an Eligible Person under clause
(c) above may participate in this Plan only if such participation would not adversely affect either the Corporation’s eligibility
to use Form S-8 to register under the Securities Act of 1933, as amended (the “Securities Act”), the offering
and sale of shares issuable under this Plan by the Corporation or the Corporation’s compliance with any other applicable
laws. An Eligible Person who has been granted an award (a “participant”) may, if otherwise eligible, be granted additional
awards if the Administrator shall so determine. As used herein, “Subsidiary” means any corporation or other
entity a majority of whose outstanding voting stock or voting power is beneficially owned directly or indirectly by the Corporation;
and “Board” means the Board of Directors of the Corporation.

 

3.PLAN
ADMINISTRATION

 

		3.1	The Administrator. This Plan shall be administered by and all awards
under this Plan shall be authorized by the Administrator. The “Administrator” means the Board or one or more
committees appointed by the Board or another committee (within its delegated authority) to administer all or certain aspects of
this Plan. Any such committee shall be comprised solely of one or more directors or such number of directors as may be required
under applicable law. A committee may delegate some or all of its authority to another committee so constituted. The Board or a
committee comprised solely of directors may also delegate, to the extent permitted by Section 157(c) of the Delaware General Corporation
Law and any other applicable law, to one or more officers of the Corporation, its powers under this Plan (a) to designate the officers
and employees of the Corporation and its Subsidiaries who will receive grants of awards under this Plan, and (b) to determine the
number of shares subject to, and the other terms and conditions of, such awards. The Board may delegate different levels of authority
to different committees with administrative and grant authority under this Plan. Unless otherwise provided in the Bylaws of the
Corporation or the applicable charter of any Administrator: (a) a majority of the members of the acting Administrator shall constitute
a quorum, and (b) the vote of a majority of the members present assuming the presence of a quorum or the unanimous written consent
of the members of the Administrator shall constitute action by the acting Administrator.

 

    	1

    	 

    
 

With respect to awards intended to
satisfy the requirements for performance-based compensation under Section 162(m) of the Internal Revenue Code of 1986, as amended
(the “Code”), this Plan shall be administered by a committee consisting solely of two or more outside directors
(as this requirement is applied under Section 162(m) of the Code); provided, however, that the failure to satisfy such requirement
shall not affect the validity of the action of any committee otherwise duly authorized and acting in the matter. Award grants,
and transactions in or involving awards, intended to be exempt under Rule 16b-3 under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), must be duly and timely authorized by the Board or a committee consisting solely of two
or more non-employee directors (as this requirement is applied under Rule 16b-3 promulgated under the Exchange Act). To the extent
required by any applicable listing agency, this Plan shall be administered by a committee composed entirely of independent directors
(within the meaning of the applicable listing agency).

 

		3.2	Powers of the Administrator. Subject to the express provisions of this
Plan, the Administrator is authorized and empowered to do all things necessary or desirable in connection with the authorization
of awards and the administration of this Plan (in the case of a committee or delegation to one or more officers, within the authority
delegated to that committee or person(s)), including, without limitation, the authority to:

 

		(a)	determine eligibility and, from among those persons determined to be eligible, the particular Eligible Persons who will receive
an award under this Plan;

 

		(b)	grant awards to Eligible Persons, determine the price at which securities will be offered or awarded and the number of securities
to be offered or awarded to any of such persons, determine the other specific terms and conditions of such awards consistent with
the express limits of this Plan, establish the installments (if any) in which such awards shall become exercisable or shall vest
(which may include, without limitation, performance and/or time-based schedules), or determine that no delayed exercisability or
vesting is required, establish any applicable performance targets, and establish the events of termination or reversion of such
awards;

 

		(c)	approve the forms of award agreements (which need not be identical either as to type of award or among participants);

 

    	2

    	 

    
 

		(d)	construe and interpret this Plan and any agreements defining the rights and obligations of the Corporation, its Subsidiaries,
and participants under this Plan, further define the terms used in this Plan, and prescribe, amend and rescind rules and regulations
relating to the administration of this Plan or the awards granted under this Plan;

 

		(e)	cancel, modify, or waive the Corporation’s rights with respect to, or modify, discontinue, suspend, or terminate any
or all outstanding awards, subject to any required consent under Section 8.6.5;

 

		(f)	accelerate or extend the vesting or exercisability or extend the term of any or all such outstanding awards (in the case of
options or stock appreciation rights, within the maximum ten-year term of such awards) in such circumstances as the Administrator
may deem appropriate (including, without limitation, in connection with a termination of employment or services or other events
of a personal nature) subject to any required consent under Section 8.6.5;

 

		(g)	adjust the number of shares of Common Stock subject to any award, adjust the price of any or all outstanding awards or otherwise
change previously imposed terms and conditions, in such circumstances as the Administrator may deem appropriate, in each case subject
to Sections 4 and 8.6 (and subject to the no repricing provision below);

 

		(h)	determine the date of grant of an award, which may be a designated date after but not before the date of the Administrator’s
action (unless otherwise designated by the Administrator, the date of grant of an award shall be the date upon which the Administrator
took the action granting an award);

 

		(i)	determine whether, and the extent to which, adjustments are required pursuant to Section 7 hereof and authorize the termination,
conversion, substitution or succession of awards upon the occurrence of an event of the type described in Section 7;

 

		(j)	acquire or settle (subject to Sections 7 and 8.6) rights under awards in cash, stock of equivalent value, or other consideration
(subject to the no repricing provision below); and

 

		(k)	determine the fair market value of the Common Stock or awards under this Plan from time to time and/or the manner in which
such value will be determined.

 

Notwithstanding the foregoing and
except for an adjustment pursuant to Section 7.1 or a repricing approved by stockholders, in no case may the Administrator (1)
amend an outstanding stock option or SAR to reduce the exercise price or base price of the award, (2) cancel, exchange, or surrender
an outstanding stock option or SAR in exchange for cash or other awards for the purpose of repricing the award, or (3) cancel,
exchange, or surrender an outstanding stock option or SAR in exchange for an option or SAR with an exercise or base price that
is less than the exercise or base price of the original award.

    	3

    	 

    
 

		3.3	Binding
                                                                                                                                                                  Determinations.
                                                                                                                                                                  Any
                                                                                                                                                                  action
                                                                                                                                                                  taken
                                                                                                                                                                  by,
                                                                                                                                                                  or
                                                                                                                                                                  inaction
                                                                                                                                                                  of,
                                                                                                                                                                  the
                                                                                                                                                                  Corporation,
                                                                                                                                                                  any
                                                                                                                                                                  Subsidiary,
                                                                                                                                                                  or
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  relating
                                                                                                                                                                  or
                                                                                                                                                                  pursuant
                                                                                                                                                                  to
                                                                                                                                                                  this
                                                                                                                                                                  Plan
                                                                                                                                                                  and
                                                                                                                                                                  within
                                                                                                                                                                  its
                                                                                                                                                                  authority
                                                                                                                                                                  hereunder
                                                                                                                                                                  or
                                                                                                                                                                  under
                                                                                                                                                                  applicable
                                                                                                                                                                  law
                                                                                                                                                                  shall
                                                                                                                                                                  be
                                                                                                                                                                  within
                                                                                                                                                                  the
                                                                                                                                                                  absolute
                                                                                                                                                                  discretion
                                                                                                                                                                  of
                                                                                                                                                                  that
                                                                                                                                                                  entity
                                                                                                                                                                  or
                                                                                                                                                                  body
                                                                                                                                                                  and
                                                                                                                                                                  shall
                                                                                                                                                                  be
                                                                                                                                                                  conclusive
                                                                                                                                                                  and
                                                                                                                                                                  binding
                                                                                                                                                                  upon
                                                                                                                                                                  all
                                                                                                                                                                  persons.
                                                                                                                                                                  Neither
                                                                                                                                                                  the
                                                                                                                                                                  Board
                                                                                                                                                                  nor
                                                                                                                                                                  any
                                                                                                                                                                  Board
                                                                                                                                                                  committee,
                                                                                                                                                                  nor
                                                                                                                                                                  any
                                                                                                                                                                  member
                                                                                                                                                                  thereof
                                                                                                                                                                  or
                                                                                                                                                                  person
                                                                                                                                                                  acting
                                                                                                                                                                  at
                                                                                                                                                                  the
                                                                                                                                                                  direction
                                                                                                                                                                  thereof,
                                                                                                                                                                  shall
                                                                                                                                                                  be
                                                                                                                                                                  liable
                                                                                                                                                                  for
                                                                                                                                                                  any
                                                                                                                                                                  act,
                                                                                                                                                                  omission,
                                                                                                                                                                  interpretation,
                                                                                                                                                                  construction
                                                                                                                                                                  or
                                                                                                                                                                  determination
                                                                                                                                                                  made
                                                                                                                                                                  in
                                                                                                                                                                  good
                                                                                                                                                                  faith
                                                                                                                                                                  in
                                                                                                                                                                  connection
                                                                                                                                                                  with
                                                                                                                                                                  this
                                                                                                                                                                  Plan
                                                                                                                                                                  (or
                                                                                                                                                                  any
                                                                                                                                                                  award
                                                                                                                                                                  made
                                                                                                                                                                  under
                                                                                                                                                                  this
                                                                                                                                                                  Plan),
                                                                                                                                                                  and
                                                                                                                                                                  all
                                                                                                                                                                  such
                                                                                                                                                                  persons
                                                                                                                                                                  shall
                                                                                                                                                                  be
                                                                                                                                                                  entitled
                                                                                                                                                                  to
                                                                                                                                                                  indemnification
                                                                                                                                                                  and
                                                                                                                                                                  reimbursement
                                                                                                                                                                  by
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  in
                                                                                                                                                                  respect
                                                                                                                                                                  of
                                                                                                                                                                  any
                                                                                                                                                                  claim,
                                                                                                                                                                  loss,
                                                                                                                                                                  damage
                                                                                                                                                                  or
                                                                                                                                                                  expense
                                                                                                                                                                  (including,
                                                                                                                                                                  without
                                                                                                                                                                  limitation,
                                                                                                                                                                  attorneys’
                                                                                                                                                                  fees)
                                                                                                                                                                  arising
                                                                                                                                                                  or
                                                                                                                                                                  resulting
                                                                                                                                                                  therefrom
                                                                                                                                                                  to
                                                                                                                                                                  the
                                                                                                                                                                  fullest
                                                                                                                                                                  extent
                                                                                                                                                                  permitted
                                                                                                                                                                  by
                                                                                                                                                                  law
                                                                                                                                                                  and/or
                                                                                                                                                                  under
                                                                                                                                                                  any
                                                                                                                                                                  directors
                                                                                                                                                                  and
                                                                                                                                                                  officers
                                                                                                                                                                  liability
                                                                                                                                                                  insurance
                                                                                                                                                                  coverage
                                                                                                                                                                  that
                                                                                                                                                                  may
                                                                                                                                                                  be
                                                                                                                                                                  in
                                                                                                                                                                  effect
                                                                                                                                                                  from
                                                                                                                                                                  time
                                                                                                                                                                  to
                                                                                                                                                                  time.
	 	 	 
	 	3.4	Reliance on Experts. In making any determination or in taking or not taking
                                  any action under this Plan, the Administrator may obtain and may rely upon the advice of experts,
                                  including employees and professional advisors to the Corporation. No director, officer or agent
                                  of the Corporation or any of its Subsidiaries shall be liable for any such action or determination
                                  taken or made or omitted in good faith.
	 	 	 
	 	3.5	Delegation. The Administrator may delegate ministerial, non-discretionary
                                  functions to individuals who are officers or employees of the Corporation or any of its Subsidiaries
                                  or to third parties.

 

 

4.SHARES
OF COMMON STOCK SUBJECT TO THE PLAN; SHARE LIMITS

 

	 	4.1	Shares Available. Subject
                                                                            to the provisions of Section 7.1, the capital stock
                                                                            that may be delivered under this Plan shall be shares
                                                                            of the Corporation’s authorized but unissued
                                                                            Common Stock and any shares of its Common Stock held
                                                                            as treasury shares. For purposes of this Plan, “Common
                                                                            Stock” shall mean the common stock of the
                                                                            Corporation and such other securities or property
                                                                            as may become the subject of awards under this Plan,
                                                                            or may become subject to such awards, pursuant to
                                                                            an adjustment made under Section 7.1.
	 	 	 
	 	4.2	Share Limits. The maximum number of shares of Common Stock that may be delivered
                                  pursuant to awards granted to Eligible Persons under this Plan (the “Share Limit”)
                                  is equal to:

 

 

		(1)	12,936,433 shares of Common Stock, less

 

		(2)	the number of any shares subject to awards granted under the Corporation’s 2008 Equity Incentive Plan, as amended (the
“2008 Plan”), and the Corporation’s 2000 Non-Officer Equity Incentive Plan, as amended and restated (the
“2000 Non-Officer Plan”), after December 31, 2011 and on or before the date of stockholder approval of this
Plan (with any shares subject to such awards that are “Full-Value Awards” being counted against the Share Limit based
on the Full-Value Award Ratio specified below), plus

 

    	4

    	 

    
 

		(3)	the number of any shares subject to stock options granted under the 2008 Plan, the 2000 Non-Officer Plan, or the Corporation’s
2000 Equity Incentive Plan, as amended and restated (collectively, the “Prior Plans”) and outstanding as of
December 31, 2011 which expire, or for any reason are cancelled or terminated, after December 31, 2011 without being exercised,
plus

 

		(4)	the number of any shares subject to restricted stock and restricted stock unit awards granted under the Prior Plans that are
outstanding and unvested on December 31, 2011 that are forfeited, terminated, cancelled or otherwise reacquired by the Corporation
without having become vested (with any such shares increasing the Share Limit based on the Full Value Award Ratio specified below).

 

provided that in no event shall the
Share Limit exceed 30,186,624 shares (which is the sum of (1) the 12,936,433 shares set forth above, plus (2) the aggregate number
of shares subject to stock options previously granted and outstanding under the Prior Plans as of December 31, 2011, plus (3) 1.5
(the Full-Value Award Ratio) times the aggregate number of shares subject to restricted stock and restricted stock units previously
granted and outstanding under the Prior Plans as of December 31, 2011).

 

Shares issued in respect of any “Full-Value
Award” granted under this Plan shall be counted against the foregoing Share Limit as 1.5 shares for every one share issued
in connection with such award (the “Full-Value Award Ratio”). (For example, if a stock bonus of 100 shares of
Common Stock is granted under this Plan, 150 shares shall be charged against the Share Limit in connection with that award.) For
this purpose, a “Full-Value Award” means any award under this Plan that is not a stock option grant or
a stock appreciation right grant.

 

The following limits also apply with
respect to awards granted under this Plan:

 

		(a)	The maximum number of shares of Common Stock that may be delivered pursuant to options qualified as incentive stock options
granted under this Plan is 9,500,000 shares.

 

		(b)	The maximum number of shares of Common Stock subject to those options and stock appreciation rights that are granted during
any calendar year to any individual under this Plan is 3,000,000 shares.

 

		(c)	Additional limits with respect to Performance-Based Awards are set forth in Section 5.2.3.

 

Each
of the foregoing numerical limits is subject to adjustment as contemplated by Section 4.3, Section 7.1, and Section 8.10.

    	5

    	 

    
 

		4.3	Awards Settled in Cash, Reissue of Awards and
                                                                      Shares. Except as provided in the next sentence,
                                                                      shares that are subject to or underlie awards granted under
                                                                      this Plan which expire or for any reason are cancelled or
                                                                      terminated, are forfeited, fail to vest, or for any other
                                                                      reason are not paid or delivered under this Plan shall again
                                                                      be available for subsequent awards under this Plan (with
                                                                      any such shares increasing the Share Limit based on the
                                                                      Full-Value Award Ratio specified in Section 4.2). Shares
                                                                      that are exchanged by a participant or withheld by the Corporation
                                                                      as full or partial payment in connection with any award
                                                                      under this Plan, as well as any shares exchanged by a participant
                                                                      or withheld by the Corporation or one of its Subsidiaries
                                                                      to satisfy the tax withholding obligations related to any
                                                                      award, shall not be available for subsequent awards under
                                                                      this Plan. To the extent that an award granted under this
                                                                      Plan is settled in cash or a form other than shares of Common
                                                                      Stock, the shares that would have been delivered had there
                                                                      been no such cash or other settlement shall again be available
                                                                      for subsequent awards under this Plan (with any such shares
                                                                      increasing the Share Limit based on the Full-Value Award
                                                                      Ratio specified in Section 4.2). In the event that shares
                                                                      of Common Stock are delivered in respect of a dividend equivalent
                                                                      right granted under this Plan, the number of shares delivered
                                                                      with respect to the award shall be counted against the share
                                                                      limits of this Plan (including, for purposes of clarity,
                                                                      the limits of Section 4.2 of this Plan). (For purposes of
                                                                      clarity, if 1,000 dividend equivalent rights are granted
                                                                      and outstanding when the Corporation pays a dividend, and
                                                                      50 shares are delivered in payment of those rights with
                                                                      respect to that dividend, 75 shares (after giving effect
                                                                      to the Full-Value Award premium counting rules) shall be
                                                                      counted against the share limits of this Plan). To the extent
                                                                      that shares of Common Stock are delivered pursuant to the
                                                                      exercise of a stock appreciation right or stock option granted
                                                                      under this Plan, the number of underlying shares as to which
                                                                      the exercise related shall be counted against the applicable
                                                                      share limits under Section 4.2, as opposed to only counting
                                                                      the shares issued. (For purposes of clarity, if a stock
                                                                      appreciation right relates to 100,000 shares and is exercised
                                                                      at a time when the payment due to the participant is 15,000
                                                                      shares, 100,000 shares shall be charged against the applicable
                                                                      share limits under Section 4.2 with respect to such exercise.)
                                                                      Refer to Section 8.10 for application of the foregoing share
                                                                      limits with respect to assumed awards. The foregoing adjustments
                                                                      to the share limits of this Plan are subject to any applicable
                                                                      limitations under Section 162(m) of the Code with respect
                                                                      to awards intended as performance-based compensation thereunder.
	 	 	 
	 	4.4	Reservation of Shares; No Fractional Shares; Minimum Issue. The Corporation
                                  shall at all times reserve a number of shares of Common Stock sufficient to cover the Corporation’s
                                  obligations and contingent obligations to deliver shares with respect to awards then outstanding
                                  under this Plan (exclusive of any dividend equivalent obligations to the extent the Corporation
                                  has the right to settle such rights in cash). No fractional shares shall be delivered under
                                  this Plan. The Administrator may pay cash in lieu of any fractional shares in settlements of
                                  awards under this Plan. The Administrator may from time to time impose a limit (of not greater
                                  than 100 shares) on the minimum number of shares that may be purchased or exercised as to awards
                                  granted under this Plan unless (as to any particular award) the total number purchased or exercised
                                  is the total number at the time available for purchase or exercise under the award.

 

 

    	6

    	 

    
 

5.AWARDS

 

		5.1	Type and Form of Awards. The Administrator shall determine the type
or types of award(s) to be made to each selected Eligible Person. Awards may be granted singly, in combination or in tandem. Awards
also may be made in combination or in tandem with, in replacement of, as alternatives to, or as the payment form for grants or
rights under any other employee or compensation plan of the Corporation or one of its Subsidiaries. The types of awards that may
be granted under this Plan are (subject, in each case, to the no repricing provisions of Section 3.2):

 

5.1.1Stock
Options. A stock option is the grant of a right to purchase a specified number of shares of Common Stock during a specified
period as determined by the Administrator. An option may be intended as an incentive stock option within the meaning of Section
422 of the Code (an “ISO”) or a nonqualified stock option (an option not intended to be an ISO). The award agreement
for an option will indicate if the option is intended as an ISO; otherwise it will be deemed to be a nonqualified stock option.
The maximum term of each option (ISO or nonqualified) shall be eight (8) years. The per share exercise price for each option shall
be not less than 100% of the fair market value of a share of Common Stock on the date of grant of the option. When an option is
exercised, the exercise price for the shares to be purchased shall be paid in full in cash or such other method permitted by the
Administrator consistent with Section 5.5.

 

5.1.2Additional
Rules Applicable to ISOs. To the extent that the aggregate fair market value (determined at the time of grant of the applicable
option) of stock with respect to which ISOs first become exercisable by a participant in any calendar year exceeds $100,000, taking
into account both Common Stock subject to ISOs under this Plan and stock subject to ISOs under all other plans of the Corporation
or one of its Subsidiaries (or any parent or predecessor corporation to the extent required by and within the meaning of Section
422 of the Code and the regulations promulgated thereunder), such options shall be treated as nonqualified stock options. In reducing
the number of options treated as ISOs to meet the $100,000 limit, the most recently granted options shall be reduced first. To
the extent a reduction of simultaneously granted options is necessary to meet the $100,000 limit, the Administrator may, in the
manner and to the extent permitted by law, designate which shares of Common Stock are to be treated as shares acquired pursuant
to the exercise of an ISO. ISOs may only be granted to employees of the Corporation or one of its subsidiaries (for this purpose,
the term “subsidiary” is used as defined in Section 424(f) of the Code, which generally requires an unbroken chain
of ownership of at least 50% of the total combined voting power of all classes of stock of each subsidiary in the chain beginning
with the Corporation and ending with the subsidiary in question). There shall be imposed in any award agreement relating to ISOs
such other terms and conditions as from time to time are required in order that the option be an “incentive stock option”
as that term is defined in Section 422 of the Code. No ISO may be granted to any person who, at the time the option is granted,
owns (or is deemed to own under Section 424(d) of the Code) shares of outstanding Common Stock possessing more than 10% of the
total combined voting power of all classes of stock of the Corporation, unless the exercise price of such option is at least 110%
of the fair market value of the stock subject to the option and such option by its terms is not exercisable after the expiration
of five years from the date such option is granted.

    	7

    	 

    
 

5.1.3Stock
Appreciation Rights. A stock appreciation right or “SAR” is a right to receive a payment, in cash and/or
Common Stock, equal to the excess of the fair market value of a specified number of shares of Common Stock on the date the SAR
is exercised over the “base price” of the award, which base price shall be set forth in the applicable award
agreement and shall be not less than 100% of the fair market value of a share of Common Stock on the date of grant of the SAR.
The maximum term of a SAR shall be eight (8) years.

 

5.1.4Other
Awards; Dividend Equivalent Rights. The other types of awards that may be granted under this Plan include: (a) stock bonuses,
restricted stock, performance stock, stock units, phantom stock or similar rights to purchase or acquire shares, whether at a fixed
or variable price or ratio related to the Common Stock, upon the passage of time, the occurrence of one or more events, or the
satisfaction of performance criteria or other conditions, or any combination thereof; (b) any similar securities with a value
derived from the value of or related to the Common Stock and/or returns thereon; or (c) cash awards. Dividend equivalent rights
may be granted as a separate award or in connection with another award under this Plan; provided, however, that dividend equivalent
rights may not be granted in connection with a stock option or SAR granted under this Plan. In addition, any dividends and/or dividend
equivalents as to the unvested portion of a restricted stock award that is subject to performance-based vesting requirements or
the unvested portion of a stock unit award that is subject to performance-based vesting requirements will be subject to termination
and forfeiture to the same extent as the corresponding portion of the award to which they relate.

 

		5.2	Section 162(m) Performance-Based Awards. Without limiting the generality
of the foregoing, any of the types of awards listed in Section 5.1.4 above may be, and options and SARs granted to officers and
employees (“Qualifying Options” and “Qualifying SARS,” respectively) typically will be, granted
as awards intended to satisfy the requirements for “performance-based compensation” within the meaning of Section 162(m)
of the Code (“Performance-Based Awards”). The grant, vesting, exercisability or payment of Performance-Based
Awards may depend (or, in the case of Qualifying Options or Qualifying SARs, may also depend) on the degree of achievement of one
or more performance goals relative to a pre-established targeted level or levels using one or more of the Business Criteria set
forth below (on an absolute or relative (including, without limitation, relative to the performance of other companies or upon
comparisons of any of the indicators of performance relative to other companies) basis) for the Corporation on a consolidated basis
or for one or more of the Corporation’s subsidiaries, segments, divisions or business units, or any combination of the foregoing.
Any Qualifying Option or Qualifying SAR shall be subject only to the requirements of Section 5.2.1 and 5.2.3 in order for such
award to satisfy the requirements for “performance-based compensation” under Section 162(m) of the Code. Any other
Performance-Based Award shall be subject to all of the following provisions of this Section 5.2.

 

    	8

    	 

    
 

5.2.1Class;
Administrator. The eligible class of persons for Performance-Based Awards under this Section 5.2 shall be officers
and employees of the Corporation or one of its Subsidiaries. The Administrator approving Performance-Based Awards or making any
certification required pursuant to Section 5.2.4 must be constituted as provided in Section 3.1 for awards that are intended as
performance-based compensation under Section 162(m) of the Code.

 

5.2.2Performance
Goals. The specific performance goals for Performance-Based Awards (other than Qualifying Options and Qualifying SARs)
shall be, on an absolute or relative basis, established based on one or more of the following business criteria (“Business
Criteria”) as selected by the Administrator in its sole discretion: earnings per share, cash flow (which means cash and
cash equivalents derived from either net cash flow from operations or net cash flow from operations, financing and investing activities),
working capital, stock price, total stockholder return, gross revenue, revenue growth, gross profit, operating income (before or
after taxes), net earnings (before or after interest, taxes, depreciation and/or amortization), gross margin, operating margin,
net margin, return on equity or on assets or on net investment, cost containment or reduction, regulatory submissions or approvals,
manufacturing production, completion of strategic partnerships, research milestones, or any combination thereof. As applicable,
these terms are used as applied under generally accepted accounting principles or in the financial reporting of the Corporation
or of its Subsidiaries. To qualify awards as performance-based under Section 162(m), the applicable Business Criterion (or Business
Criteria, as the case may be) and specific performance goal or goals (“targets”) must be established and approved by
the Administrator during the first 90 days of the performance period (and, in the case of performance periods of less than one
year, in no event after 25% or more of the performance period has elapsed) and while performance relating to such target(s) remains
substantially uncertain within the meaning of Section 162(m) of the Code. The terms of the Performance-Based Awards may specify
the manner, if any, in which performance targets shall be adjusted to mitigate the unbudgeted impact of material, unusual or nonrecurring
gains and losses, accounting changes or other extraordinary events not foreseen at the time the targets were set unless the Administrator
provides otherwise at the time of establishing the targets. The applicable performance measurement period may not be less than
three months nor more than 10 years.

    	9

    	 

    
 

5.2.3Form
of Payment; Maximum Performance-Based Award. Grants or awards under this Section 5.2 may be paid in cash or shares of Common
Stock or any combination thereof. Grants of Qualifying Options and Qualifying SARs to any one participant in any one calendar year
shall be subject to the limit set forth in Section 4.2(b). The maximum number of shares of Common Stock which may be subject to
Performance-Based Awards (including Performance-Based Awards payable in shares of Common Stock and Performance-Based Awards payable
in cash where the amount of cash payable upon or following vesting of the award is determined with reference to the fair market
value of a share of Common Stock at such time) that are granted to any one participant in any one calendar year shall not exceed
3,000,000 shares, either individually or in the aggregate, subject to adjustment as provided in Section 7.1; provided that
this limit shall not apply to Qualifying Options and Qualifying SARs (which are covered by the limit of Section 4.2(b)). The aggregate
amount of compensation to be paid to any one participant in respect of all Performance-Based Awards payable only in cash (excluding
cash awards covered by the preceding sentence where the cash payment is determined with reference to the fair market value of a
share of Common Stock upon or following the vesting of the award) and granted to that participant in any one calendar year shall
not exceed $5,000,000. Awards that are cancelled during the year shall be counted against these limits to the extent required by
Section 162(m) of the Code.

 

5.2.4Certification
of Payment. Before any Performance-Based Award under this Section 5.2 (other than Qualifying Options and Qualifying SARs)
is paid and to the extent required to qualify the award as performance-based compensation within the meaning of Section 162(m)
of the Code, the Administrator must certify in writing that the performance target(s) and any other material terms of the Performance-Based
Award were in fact timely satisfied.

 

5.2.5Reservation
of Discretion. The Administrator will have the discretion to determine the restrictions or other limitations of the individual
awards granted under this Section 5.2 including the authority to reduce awards, payouts or vesting or to pay no awards, in its
sole discretion, if the Administrator preserves such authority at the time of grant by language to this effect in its authorizing
resolutions or otherwise.

 

5.2.6Expiration
of Grant Authority. As required pursuant to Section 162(m) of the Code and the regulations promulgated thereunder, the
Administrator’s authority to grant new awards that are intended to qualify as performance-based compensation within the meaning
of Section 162(m) of the Code (other than Qualifying Options and Qualifying SARs) shall terminate upon the first meeting of the
Corporation’s stockholders that occurs in the fifth year following the year in which the Corporation’s stockholders
first approve this Plan, subject to any subsequent extension that may be approved by stockholders.

 

		5.3	Award
                                                                                                                                                                  Agreements.
                                                                                                                                                                  Each
                                                                                                                                                                  award
                                                                                                                                                                  shall
                                                                                                                                                                  be
                                                                                                                                                                  evidenced
                                                                                                                                                                  by
                                                                                                                                                                  either
                                                                                                                                                                  (1)
                                                                                                                                                                  a
                                                                                                                                                                  written
                                                                                                                                                                  award
                                                                                                                                                                  agreement
                                                                                                                                                                  in
                                                                                                                                                                  a
                                                                                                                                                                  form
                                                                                                                                                                  approved
                                                                                                                                                                  by
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  and
                                                                                                                                                                  executed
                                                                                                                                                                  by
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  by
                                                                                                                                                                  an
                                                                                                                                                                  officer
                                                                                                                                                                  duly
                                                                                                                                                                  authorized
                                                                                                                                                                  to
                                                                                                                                                                  act
                                                                                                                                                                  on
                                                                                                                                                                  its
                                                                                                                                                                  behalf,
                                                                                                                                                                  or
                                                                                                                                                                  (2)
                                                                                                                                                                  an
                                                                                                                                                                  electronic
                                                                                                                                                                  notice
                                                                                                                                                                  of
                                                                                                                                                                  award
                                                                                                                                                                  grant
                                                                                                                                                                  in
                                                                                                                                                                  a
                                                                                                                                                                  form
                                                                                                                                                                  approved
                                                                                                                                                                  by
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  and
                                                                                                                                                                  recorded
                                                                                                                                                                  by
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  (or
                                                                                                                                                                  its
                                                                                                                                                                  designee)
                                                                                                                                                                  in
                                                                                                                                                                  an
                                                                                                                                                                  electronic
                                                                                                                                                                  recordkeeping
                                                                                                                                                                  system
                                                                                                                                                                  used
                                                                                                                                                                  for
                                                                                                                                                                  the
                                                                                                                                                                  purpose
                                                                                                                                                                  of
                                                                                                                                                                  tracking
                                                                                                                                                                  award
                                                                                                                                                                  grants
                                                                                                                                                                  under
                                                                                                                                                                  this
                                                                                                                                                                  Plan
                                                                                                                                                                  generally
                                                                                                                                                                  (in
                                                                                                                                                                  each
                                                                                                                                                                  case,
                                                                                                                                                                  an
                                                                                                                                                                  “award
                                                                                                                                                                  agreement”),
                                                                                                                                                                  as
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  may
                                                                                                                                                                  provide
                                                                                                                                                                  and,
                                                                                                                                                                  in
                                                                                                                                                                  each
                                                                                                                                                                  case
                                                                                                                                                                  and
                                                                                                                                                                  if
                                                                                                                                                                  required
                                                                                                                                                                  by
                                                                                                                                                                  the
                                                                                                                                                                  Administrator,
                                                                                                                                                                  executed
                                                                                                                                                                  or
                                                                                                                                                                  otherwise
                                                                                                                                                                  electronically
                                                                                                                                                                  accepted
                                                                                                                                                                  by
                                                                                                                                                                  the
                                                                                                                                                                  recipient
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  award
                                                                                                                                                                  in
                                                                                                                                                                  such
                                                                                                                                                                  form
                                                                                                                                                                  and
                                                                                                                                                                  manner
                                                                                                                                                                  as
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  may
                                                                                                                                                                  require.
                                                                                                                                                                  The
                                                                                                                                                                  Administrator
                                                                                                                                                                  may
                                                                                                                                                                  authorize
                                                                                                                                                                  any
                                                                                                                                                                  officer
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  (other
                                                                                                                                                                  than
                                                                                                                                                                  the
                                                                                                                                                                  particular
                                                                                                                                                                  award
                                                                                                                                                                  recipient)
                                                                                                                                                                  to
                                                                                                                                                                  execute
                                                                                                                                                                  any
                                                                                                                                                                  or
                                                                                                                                                                  all
                                                                                                                                                                  award
                                                                                                                                                                  agreements
                                                                                                                                                                  on
                                                                                                                                                                  behalf
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  Corporation.
                                                                                                                                                                  The
                                                                                                                                                                  award
                                                                                                                                                                  agreement
                                                                                                                                                                  shall
                                                                                                                                                                  set
                                                                                                                                                                  forth
                                                                                                                                                                  the
                                                                                                                                                                  material
                                                                                                                                                                  terms
                                                                                                                                                                  and
                                                                                                                                                                  conditions
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  award
                                                                                                                                                                  as
                                                                                                                                                                  established
                                                                                                                                                                  by
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  consistent
                                                                                                                                                                  with
                                                                                                                                                                  the
                                                                                                                                                                  express
                                                                                                                                                                  limitations
                                                                                                                                                                  of
                                                                                                                                                                  this
                                                                                                                                                                  Plan.

 

    	10

    	 

    
 

		5.4	Deferrals and Settlements. Payment of awards may be in the form of cash,
Common Stock, other awards or combinations thereof as the Administrator shall determine, and with such restrictions as it may impose.
The Administrator may also require or permit participants to elect to defer the issuance of shares or the settlement of awards
in cash under such rules and procedures as it may establish under this Plan. The Administrator may also provide that deferred settlements
include the payment or crediting of interest or other earnings on the deferral amounts, or the payment or crediting of dividend
equivalents where the deferred amounts are denominated in shares.

 

		5.5	Consideration for Common Stock or Awards. The purchase price for any
award granted under this Plan or the Common Stock to be delivered pursuant to an award, as applicable, may be paid by means of
any lawful consideration as determined by the Administrator, including, without limitation, one or a combination of the following
methods:

 

		·	services rendered by the recipient of such award;

 

		·	cash, check payable to the order of the Corporation, or electronic funds transfer;

 

		·	notice and third party payment in such manner as may be authorized by the Administrator;

 

		·	the delivery of previously owned shares of Common Stock;

 

		·	by a reduction in the number of shares otherwise deliverable pursuant to the award;
or

 

		·	subject to such procedures as the Administrator may adopt, pursuant to a “cashless
exercise” with a third party who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise
of awards.

 

In
no event shall any shares newly-issued by the Corporation be issued for less than the minimum lawful consideration for such shares
or for consideration other than consideration permitted by applicable state law. Shares of Common Stock used to satisfy the exercise
price of an option shall be valued at their fair market value on the date of exercise. The Corporation will not be obligated to
deliver any shares unless and until it receives full payment of the exercise or purchase price therefor and any related withholding
obligations under Section 8.5 and any other conditions to exercise or purchase have been satisfied. Unless otherwise expressly
provided in the applicable award agreement, the Administrator may at any time eliminate or limit a participant’s ability
to pay the purchase or exercise price of any award or shares by any method other than cash payment to the Corporation.

    	11

    	 

    

 

		5.6	Definition of Fair Market Value. For purposes of this Plan, “fair
market value” shall mean, unless otherwise determined or provided by the Administrator in the circumstances, the closing
price (in regular trading) for a share of Common Stock on the NASDAQ Stock Market (the “Market”) for the date
in question or, if no sales of Common Stock were reported on the Market on that date, the closing price (in regular trading) for
a share of Common Stock on the Market for the next preceding day on which sales of Common Stock were reported on the Market. The
Administrator may, however, provide with respect to one or more awards that the fair market value shall equal the closing price
(in regular trading) for a share of Common Stock on the Market on the last trading day preceding the date in question or the average
of the high and low trading prices of a share of Common Stock on the Market for the date in question or the most recent trading
day. If the Common Stock is no longer listed or is no longer actively traded on the Market as of the applicable date, the fair
market value of the Common Stock shall be the value as reasonably determined by the Administrator for purposes of the award in
the circumstances. The Administrator also may adopt a different methodology for determining fair market value with respect to one
or more awards if a different methodology is necessary or advisable to secure any intended favorable tax, legal or other treatment
for the particular award(s) (for example, and without limitation, the Administrator may provide that fair market value for purposes
of one or more awards will be based on an average of closing prices (or the average of high and low daily trading prices) for a
specified period preceding the relevant date). 
	 	 	 
	 	5.7	Transfer Restrictions.

  

5.7.1Limitations
on Exercise and Transfer. Unless otherwise expressly provided in (or pursuant to) this Section 5.7 or required by applicable
law: (a) all awards are non-transferable and shall not be subject in any manner to sale, transfer, anticipation, alienation, assignment,
pledge, encumbrance or charge; (b) awards shall be exercised only by the participant; and (c) amounts payable or shares issuable
pursuant to any award shall be delivered only to (or for the account of) the participant.

 

5.7.2Exceptions.
The Administrator may permit awards to be exercised by and paid to, or otherwise transferred to, other persons or entities pursuant
to such conditions and procedures, including limitations on subsequent transfers, as the Administrator may, in its sole discretion,
establish in writing. Any permitted transfer shall be subject to compliance with applicable federal and state securities laws and
shall not be for value (other than nominal consideration, settlement of marital property rights, or for interests in an entity
in which more than 50% of the voting interests are held by the Eligible Person or by the Eligible Person’s family members).

 

5.7.3Further
Exceptions to Limits on Transfer. The exercise and transfer restrictions in Section 5.7.1 shall not apply to:

    	12

    	 

    
 

		(a)	transfers to the Corporation (for example, in connection with the expiration or termination of the award),
	 	 	 
	 	(b)	the designation of a beneficiary
to receive benefits in the event of the participant’s death or, if the participant has died, transfers to or exercise by
the participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent
and distribution,

 

		(c)	subject to any applicable limitations on ISOs, transfers to a family member (or former family member) pursuant to a domestic
relations order if approved or ratified by the Administrator,

 

		(d)	if the participant has suffered a disability, permitted transfers or exercises on behalf of the participant by his or her legal
representative, or

 

		(e)	the authorization by the Administrator of “cashless exercise” procedures with third parties who provide financing
for the purpose of (or who otherwise facilitate) the exercise of awards consistent with applicable laws and the express authorization
of the Administrator.

 

		5.8	International Awards. One or more awards may be granted to Eligible
Persons who provide services to the Corporation or one of its Subsidiaries outside of the United States. Any awards granted to
such persons may be granted pursuant to the terms and conditions of any applicable sub-plans, if any, appended to this Plan and
approved by the Administrator.

 

6.EFFECT
OF TERMINATION OF EMPLOYMENT OR SERVICE ON AWARDS

 

		6.1	General. The Administrator shall establish the effect of a termination
of employment or service on the rights and benefits under each award under this Plan and in so doing may make distinctions based
upon, inter alia, the cause of termination and type of award. If the participant is not an employee of the Corporation or one of
its Subsidiaries and provides other services to the Corporation or one of its Subsidiaries, the Administrator shall be the sole
judge for purposes of this Plan (unless a contract or the award otherwise provides) of whether the participant continues to render
services to the Corporation or one of its Subsidiaries and the date, if any, upon which such services shall be deemed to have terminated.

 

		6.2	Events Not Deemed Terminations of Service. Unless the express policy
of the Corporation or one of its Subsidiaries, or the Administrator, otherwise provides, the employment relationship shall not
be considered terminated in the case of (a) sick leave, (b) military leave, or (c) any other leave of absence authorized by the
Corporation or one of its Subsidiaries, or the Administrator; provided that, unless reemployment upon the expiration of such leave
is guaranteed by contract or law or the Administrator otherwise provides, such leave is for a period of not more than three months.
In the case of any employee of the Corporation or one of its Subsidiaries on an approved leave of absence, continued vesting of
the award while on leave from the employ of the Corporation or one of its Subsidiaries may be suspended until the employee returns
to service, unless the Administrator otherwise provides or applicable law otherwise requires. In no event shall an award be exercised
after the expiration of the term set forth in the applicable award agreement.

 

    	13

    	 

    
 

		6.3	Effect of Change of Subsidiary Status. For purposes of this Plan and
any award, if an entity ceases to be a Subsidiary of the Corporation a termination of employment or service shall be deemed to
have occurred with respect to each Eligible Person in respect of such Subsidiary who does not continue as an Eligible Person in
respect of the Corporation or another Subsidiary that continues as such after giving effect to the transaction or other event giving
rise to the change in status unless the Subsidiary that is sold, spun-off or otherwise divested (or its successor or a direct or
indirect parent of such Subsidiary or successor) assumes the Eligible Person’s award(s) in connection with such transaction.

 

7.ADJUSTMENTS;
ACCELERATION

 

		7.1	Adjustments.
                                                                                                                                                                  Subject
                                                                                                                                                                  to
                                                                                                                                                                  Section
                                                                                                                                                                  7.2,
                                                                                                                                                                  upon
                                                                                                                                                                  (or,
                                                                                                                                                                  as
                                                                                                                                                                  may
                                                                                                                                                                  be
                                                                                                                                                                  necessary
                                                                                                                                                                  to
                                                                                                                                                                  effect
                                                                                                                                                                  the
                                                                                                                                                                  adjustment,
                                                                                                                                                                  immediately
                                                                                                                                                                  prior
                                                                                                                                                                  to):
                                                                                                                                                                  any
                                                                                                                                                                  reclassification,
                                                                                                                                                                  recapitalization,
                                                                                                                                                                  stock
                                                                                                                                                                  split
                                                                                                                                                                  (including
                                                                                                                                                                  a
                                                                                                                                                                  stock
                                                                                                                                                                  split
                                                                                                                                                                  in
                                                                                                                                                                  the
                                                                                                                                                                  form
                                                                                                                                                                  of
                                                                                                                                                                  a
                                                                                                                                                                  stock
                                                                                                                                                                  dividend)
                                                                                                                                                                  or
                                                                                                                                                                  reverse
                                                                                                                                                                  stock
                                                                                                                                                                  split;
                                                                                                                                                                  any
                                                                                                                                                                  merger,
                                                                                                                                                                  combination,
                                                                                                                                                                  consolidation,
                                                                                                                                                                  or
                                                                                                                                                                  other
                                                                                                                                                                  reorganization;
                                                                                                                                                                  any
                                                                                                                                                                  spin-off,
                                                                                                                                                                  split-up,
                                                                                                                                                                  or
                                                                                                                                                                  similar
                                                                                                                                                                  extraordinary
                                                                                                                                                                  dividend
                                                                                                                                                                  distribution
                                                                                                                                                                  in
                                                                                                                                                                  respect
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  Common
                                                                                                                                                                  Stock;
                                                                                                                                                                  or
                                                                                                                                                                  any
                                                                                                                                                                  exchange
                                                                                                                                                                  of
                                                                                                                                                                  Common
                                                                                                                                                                  Stock
                                                                                                                                                                  or
                                                                                                                                                                  other
                                                                                                                                                                  securities
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  Corporation,
                                                                                                                                                                  or
                                                                                                                                                                  any
                                                                                                                                                                  similar,
                                                                                                                                                                  unusual
                                                                                                                                                                  or
                                                                                                                                                                  extraordinary
                                                                                                                                                                  corporate
                                                                                                                                                                  transaction
                                                                                                                                                                  in
                                                                                                                                                                  respect
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  Common
                                                                                                                                                                  Stock;
                                                                                                                                                                  then
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  shall
                                                                                                                                                                  equitably
                                                                                                                                                                  and
                                                                                                                                                                  proportionately
                                                                                                                                                                  adjust
                                                                                                                                                                  (1)
                                                                                                                                                                  the
                                                                                                                                                                  number
                                                                                                                                                                  and
                                                                                                                                                                  type
                                                                                                                                                                  of
                                                                                                                                                                  shares
                                                                                                                                                                  of
                                                                                                                                                                  Common
                                                                                                                                                                  Stock
                                                                                                                                                                  (or
                                                                                                                                                                  other
                                                                                                                                                                  securities)
                                                                                                                                                                  that
                                                                                                                                                                  thereafter
                                                                                                                                                                  may
                                                                                                                                                                  be
                                                                                                                                                                  made
                                                                                                                                                                  the
                                                                                                                                                                  subject
                                                                                                                                                                  of
                                                                                                                                                                  awards
                                                                                                                                                                  (including
                                                                                                                                                                  the
                                                                                                                                                                  specific
                                                                                                                                                                  share
                                                                                                                                                                  limits,
                                                                                                                                                                  maximums
                                                                                                                                                                  and
                                                                                                                                                                  numbers
                                                                                                                                                                  of
                                                                                                                                                                  shares
                                                                                                                                                                  set
                                                                                                                                                                  forth
                                                                                                                                                                  elsewhere
                                                                                                                                                                  in
                                                                                                                                                                  this
                                                                                                                                                                  Plan),
                                                                                                                                                                  (2)
                                                                                                                                                                  the
                                                                                                                                                                  number,
                                                                                                                                                                  amount
                                                                                                                                                                  and
                                                                                                                                                                  type
                                                                                                                                                                  of
                                                                                                                                                                  shares
                                                                                                                                                                  of
                                                                                                                                                                  Common
                                                                                                                                                                  Stock
                                                                                                                                                                  (or
                                                                                                                                                                  other
                                                                                                                                                                  securities
                                                                                                                                                                  or
                                                                                                                                                                  property)
                                                                                                                                                                  subject
                                                                                                                                                                  to
                                                                                                                                                                  any
                                                                                                                                                                  outstanding
                                                                                                                                                                  awards,
                                                                                                                                                                  (3)
                                                                                                                                                                  the
                                                                                                                                                                  grant,
                                                                                                                                                                  purchase,
                                                                                                                                                                  or
                                                                                                                                                                  exercise
                                                                                                                                                                  price
                                                                                                                                                                  (which
                                                                                                                                                                  term
                                                                                                                                                                  includes
                                                                                                                                                                  the
                                                                                                                                                                  base
                                                                                                                                                                  price
                                                                                                                                                                  of
                                                                                                                                                                  any
                                                                                                                                                                  SAR
                                                                                                                                                                  or
                                                                                                                                                                  similar
                                                                                                                                                                  right)
                                                                                                                                                                  of
                                                                                                                                                                  any
                                                                                                                                                                  outstanding
                                                                                                                                                                  awards,
                                                                                                                                                                  and/or
                                                                                                                                                                  (4)
                                                                                                                                                                  the
                                                                                                                                                                  securities,
                                                                                                                                                                  cash
                                                                                                                                                                  or
                                                                                                                                                                  other
                                                                                                                                                                  property
                                                                                                                                                                  deliverable
                                                                                                                                                                  upon
                                                                                                                                                                  exercise
                                                                                                                                                                  or
                                                                                                                                                                  payment
                                                                                                                                                                  of
                                                                                                                                                                  any
                                                                                                                                                                  outstanding
                                                                                                                                                                  awards,
                                                                                                                                                                  in
                                                                                                                                                                  each
                                                                                                                                                                  case
                                                                                                                                                                  to
                                                                                                                                                                  the
                                                                                                                                                                  extent
                                                                                                                                                                  necessary
                                                                                                                                                                  to
                                                                                                                                                                  preserve
                                                                                                                                                                  (but
                                                                                                                                                                  not
                                                                                                                                                                  increase)
                                                                                                                                                                  the
                                                                                                                                                                  level
                                                                                                                                                                  of
                                                                                                                                                                  incentives
                                                                                                                                                                  intended
                                                                                                                                                                  by
                                                                                                                                                                  this
                                                                                                                                                                  Plan
                                                                                                                                                                  and
                                                                                                                                                                  the
                                                                                                                                                                  then-outstanding
                                                                                                                                                                  awards.

  

Unless otherwise expressly provided
in the applicable award agreement, upon (or, as may be necessary to effect the adjustment, immediately prior to) any event or transaction
described in the preceding paragraph or a sale of all or substantially all of the business or assets of the Corporation as an entirety,
the Administrator shall equitably and proportionately adjust the performance standards applicable to any then-outstanding performance-based
awards to the extent necessary to preserve (but not increase) the level of incentives intended by this Plan and the then-outstanding
performance-based awards.

 

It is intended that, if possible,
any adjustments contemplated by the preceding two paragraphs be made in a manner that satisfies applicable U.S. legal, tax (including,
without limitation and as applicable in the circumstances, Section 424 of the Code, Section 409A of the Code and Section 162(m)
of the Code) and accounting (so as to not trigger any charge to earnings with respect to such adjustment) requirements.

    	14

    	 

    
 

Without limiting the generality of
Section 3.3, any good faith determination by the Administrator as to whether an adjustment is required in the circumstances pursuant
to this Section 7.1, and the extent and nature of any such adjustment, shall be conclusive and binding on all persons.

 

		7.2	Corporate
                                                                                                                                                                  Transactions
                                                                                                                                                                  -
                                                                                                                                                                  Assumption
                                                                                                                                                                  and
                                                                                                                                                                  Termination
                                                                                                                                                                  of
                                                                                                                                                                  Awards.
                                                                                                                                                                  Upon
                                                                                                                                                                  the
                                                                                                                                                                  occurrence
                                                                                                                                                                  of
                                                                                                                                                                  any
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  following:
                                                                                                                                                                  any
                                                                                                                                                                  merger,
                                                                                                                                                                  combination,
                                                                                                                                                                  consolidation,
                                                                                                                                                                  or
                                                                                                                                                                  other
                                                                                                                                                                  reorganization
                                                                                                                                                                  in
                                                                                                                                                                  connection
                                                                                                                                                                  with
                                                                                                                                                                  which
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  does
                                                                                                                                                                  not
                                                                                                                                                                  survive
                                                                                                                                                                  (or
                                                                                                                                                                  does
                                                                                                                                                                  not
                                                                                                                                                                  survive
                                                                                                                                                                  as
                                                                                                                                                                  a
                                                                                                                                                                  public
                                                                                                                                                                  company
                                                                                                                                                                  in
                                                                                                                                                                  respect
                                                                                                                                                                  of
                                                                                                                                                                  its
                                                                                                                                                                  Common
                                                                                                                                                                  Stock);
                                                                                                                                                                  any
                                                                                                                                                                  exchange
                                                                                                                                                                  of
                                                                                                                                                                  Common
                                                                                                                                                                  Stock
                                                                                                                                                                  or
                                                                                                                                                                  other
                                                                                                                                                                  securities
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  in
                                                                                                                                                                  connection
                                                                                                                                                                  with
                                                                                                                                                                  which
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  does
                                                                                                                                                                  not
                                                                                                                                                                  survive
                                                                                                                                                                  (or
                                                                                                                                                                  does
                                                                                                                                                                  not
                                                                                                                                                                  survive
                                                                                                                                                                  as
                                                                                                                                                                  a
                                                                                                                                                                  public
                                                                                                                                                                  company
                                                                                                                                                                  in
                                                                                                                                                                  respect
                                                                                                                                                                  of
                                                                                                                                                                  its
                                                                                                                                                                  Common
                                                                                                                                                                  Stock);
                                                                                                                                                                  a
                                                                                                                                                                  sale
                                                                                                                                                                  of
                                                                                                                                                                  all
                                                                                                                                                                  or
                                                                                                                                                                  substantially
                                                                                                                                                                  all
                                                                                                                                                                  the
                                                                                                                                                                  business,
                                                                                                                                                                  stock
                                                                                                                                                                  or
                                                                                                                                                                  assets
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  in
                                                                                                                                                                  connection
                                                                                                                                                                  with
                                                                                                                                                                  which
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  does
                                                                                                                                                                  not
                                                                                                                                                                  survive
                                                                                                                                                                  (or
                                                                                                                                                                  does
                                                                                                                                                                  not
                                                                                                                                                                  survive
                                                                                                                                                                  as
                                                                                                                                                                  a
                                                                                                                                                                  public
                                                                                                                                                                  company
                                                                                                                                                                  in
                                                                                                                                                                  respect
                                                                                                                                                                  of
                                                                                                                                                                  its
                                                                                                                                                                  Common
                                                                                                                                                                  Stock);
                                                                                                                                                                  a
                                                                                                                                                                  dissolution
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  Corporation;
                                                                                                                                                                  or
                                                                                                                                                                  any
                                                                                                                                                                  other
                                                                                                                                                                  event
                                                                                                                                                                  in
                                                                                                                                                                  which
                                                                                                                                                                  the
                                                                                                                                                                  Corporation
                                                                                                                                                                  does
                                                                                                                                                                  not
                                                                                                                                                                  survive
                                                                                                                                                                  (or
                                                                                                                                                                  does
                                                                                                                                                                  not
                                                                                                                                                                  survive
                                                                                                                                                                  as
                                                                                                                                                                  a
                                                                                                                                                                  public
                                                                                                                                                                  company
                                                                                                                                                                  in
                                                                                                                                                                  respect
                                                                                                                                                                  of
                                                                                                                                                                  its
                                                                                                                                                                  Common
                                                                                                                                                                  Stock);
                                                                                                                                                                  then
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  may
                                                                                                                                                                  make
                                                                                                                                                                  provision
                                                                                                                                                                  for
                                                                                                                                                                  a
                                                                                                                                                                  cash
                                                                                                                                                                  payment
                                                                                                                                                                  in
                                                                                                                                                                  settlement
                                                                                                                                                                  of,
                                                                                                                                                                  or
                                                                                                                                                                  for
                                                                                                                                                                  the
                                                                                                                                                                  termination,
                                                                                                                                                                  assumption,
                                                                                                                                                                  substitution
                                                                                                                                                                  or
                                                                                                                                                                  exchange
                                                                                                                                                                  of
                                                                                                                                                                  any
                                                                                                                                                                  or
                                                                                                                                                                  all
                                                                                                                                                                  outstanding
                                                                                                                                                                  share-based
                                                                                                                                                                  awards
                                                                                                                                                                  or
                                                                                                                                                                  the
                                                                                                                                                                  cash,
                                                                                                                                                                  securities
                                                                                                                                                                  or
                                                                                                                                                                  property
                                                                                                                                                                  deliverable
                                                                                                                                                                  to
                                                                                                                                                                  the
                                                                                                                                                                  holder
                                                                                                                                                                  of
                                                                                                                                                                  any
                                                                                                                                                                  or
                                                                                                                                                                  all
                                                                                                                                                                  outstanding
                                                                                                                                                                  share-based
                                                                                                                                                                  awards,
                                                                                                                                                                  based
                                                                                                                                                                  upon,
                                                                                                                                                                  to
                                                                                                                                                                  the
                                                                                                                                                                  extent
                                                                                                                                                                  relevant
                                                                                                                                                                  under
                                                                                                                                                                  the
                                                                                                                                                                  circumstances,
                                                                                                                                                                  the
                                                                                                                                                                  distribution
                                                                                                                                                                  or
                                                                                                                                                                  consideration
                                                                                                                                                                  payable
                                                                                                                                                                  to
                                                                                                                                                                  holders
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  Common
                                                                                                                                                                  Stock
                                                                                                                                                                  upon
                                                                                                                                                                  or
                                                                                                                                                                  in
                                                                                                                                                                  respect
                                                                                                                                                                  of
                                                                                                                                                                  such
                                                                                                                                                                  event.
                                                                                                                                                                  Upon
                                                                                                                                                                  the
                                                                                                                                                                  occurrence
                                                                                                                                                                  of
                                                                                                                                                                  any
                                                                                                                                                                  event
                                                                                                                                                                  described
                                                                                                                                                                  in
                                                                                                                                                                  the
                                                                                                                                                                  preceding
                                                                                                                                                                  sentence,
                                                                                                                                                                  then,
                                                                                                                                                                  unless
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  has
                                                                                                                                                                  made
                                                                                                                                                                  a
                                                                                                                                                                  provision
                                                                                                                                                                  for
                                                                                                                                                                  the
                                                                                                                                                                  substitution,
                                                                                                                                                                  assumption,
                                                                                                                                                                  exchange
                                                                                                                                                                  or
                                                                                                                                                                  other
                                                                                                                                                                  continuation
                                                                                                                                                                  or
                                                                                                                                                                  settlement
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  award
                                                                                                                                                                  or
                                                                                                                                                                  (unless
                                                                                                                                                                  the
                                                                                                                                                                  Administrator
                                                                                                                                                                  has
                                                                                                                                                                  provided
                                                                                                                                                                  for
                                                                                                                                                                  the
                                                                                                                                                                  termination
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  award)
                                                                                                                                                                  the
                                                                                                                                                                  award
                                                                                                                                                                  would
                                                                                                                                                                  otherwise
                                                                                                                                                                  continue
                                                                                                                                                                  in
                                                                                                                                                                  accordance
                                                                                                                                                                  with
                                                                                                                                                                  its
                                                                                                                                                                  terms
                                                                                                                                                                  in
                                                                                                                                                                  the
                                                                                                                                                                  circumstances:
                                                                                                                                                                  (1)
                                                                                                                                                                  unless
                                                                                                                                                                  otherwise
                                                                                                                                                                  provided
                                                                                                                                                                  in
                                                                                                                                                                  the
                                                                                                                                                                  applicable
                                                                                                                                                                  award
                                                                                                                                                                  agreement,
                                                                                                                                                                  each
                                                                                                                                                                  then-outstanding
                                                                                                                                                                  option
                                                                                                                                                                  and
                                                                                                                                                                  SAR
                                                                                                                                                                  shall
                                                                                                                                                                  become
                                                                                                                                                                  fully
                                                                                                                                                                  vested,
                                                                                                                                                                  all
                                                                                                                                                                  shares
                                                                                                                                                                  of
                                                                                                                                                                  restricted
                                                                                                                                                                  stock
                                                                                                                                                                  then
                                                                                                                                                                  outstanding
                                                                                                                                                                  shall
                                                                                                                                                                  fully
                                                                                                                                                                  vest
                                                                                                                                                                  free
                                                                                                                                                                  of
                                                                                                                                                                  restrictions,
                                                                                                                                                                  and
                                                                                                                                                                  each
                                                                                                                                                                  other
                                                                                                                                                                  award
                                                                                                                                                                  granted
                                                                                                                                                                  under
                                                                                                                                                                  this
                                                                                                                                                                  Plan
                                                                                                                                                                  that
                                                                                                                                                                  is
                                                                                                                                                                  then
                                                                                                                                                                  outstanding
                                                                                                                                                                  shall
                                                                                                                                                                  become
                                                                                                                                                                  payable
                                                                                                                                                                  to
                                                                                                                                                                  the
                                                                                                                                                                  holder
                                                                                                                                                                  of
                                                                                                                                                                  such
                                                                                                                                                                  award;
                                                                                                                                                                  and
                                                                                                                                                                  (2)
                                                                                                                                                                  each
                                                                                                                                                                  award
                                                                                                                                                                  shall
                                                                                                                                                                  terminate
                                                                                                                                                                  upon
                                                                                                                                                                  the
                                                                                                                                                                  related
                                                                                                                                                                  event;
                                                                                                                                                                  provided
                                                                                                                                                                  that
                                                                                                                                                                  the
                                                                                                                                                                  holder
                                                                                                                                                                  of
                                                                                                                                                                  an
                                                                                                                                                                  option
                                                                                                                                                                  or
                                                                                                                                                                  SAR
                                                                                                                                                                  shall
                                                                                                                                                                  be
                                                                                                                                                                  given
                                                                                                                                                                  reasonable
                                                                                                                                                                  advance
                                                                                                                                                                  notice
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  impending
                                                                                                                                                                  termination
                                                                                                                                                                  and
                                                                                                                                                                  a
                                                                                                                                                                  reasonable
                                                                                                                                                                  opportunity
                                                                                                                                                                  to
                                                                                                                                                                  exercise
                                                                                                                                                                  his
                                                                                                                                                                  or
                                                                                                                                                                  her
                                                                                                                                                                  outstanding
                                                                                                                                                                  vested
                                                                                                                                                                  options
                                                                                                                                                                  and
                                                                                                                                                                  SARs
                                                                                                                                                                  (after
                                                                                                                                                                  giving
                                                                                                                                                                  effect
                                                                                                                                                                  to
                                                                                                                                                                  any
                                                                                                                                                                  accelerated
                                                                                                                                                                  vesting
                                                                                                                                                                  required
                                                                                                                                                                  in
                                                                                                                                                                  the
                                                                                                                                                                  circumstances)
                                                                                                                                                                  in
                                                                                                                                                                  accordance
                                                                                                                                                                  with
                                                                                                                                                                  their
                                                                                                                                                                  terms
                                                                                                                                                                  before
                                                                                                                                                                  the
                                                                                                                                                                  termination
                                                                                                                                                                  of
                                                                                                                                                                  such
                                                                                                                                                                  awards
                                                                                                                                                                  (except
                                                                                                                                                                  that
                                                                                                                                                                  in
                                                                                                                                                                  no
                                                                                                                                                                  case
                                                                                                                                                                  shall
                                                                                                                                                                  more
                                                                                                                                                                  than
                                                                                                                                                                  ten
                                                                                                                                                                  days’
                                                                                                                                                                  notice
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  impending
                                                                                                                                                                  termination
                                                                                                                                                                  be
                                                                                                                                                                  required
                                                                                                                                                                  and
                                                                                                                                                                  any
                                                                                                                                                                  acceleration
                                                                                                                                                                  of
                                                                                                                                                                  vesting
                                                                                                                                                                  and
                                                                                                                                                                  any
                                                                                                                                                                  exercise
                                                                                                                                                                  of
                                                                                                                                                                  any
                                                                                                                                                                  portion
                                                                                                                                                                  of
                                                                                                                                                                  an
                                                                                                                                                                  award
                                                                                                                                                                  that
                                                                                                                                                                  is
                                                                                                                                                                  so
                                                                                                                                                                  accelerated
                                                                                                                                                                  may
                                                                                                                                                                  be
                                                                                                                                                                  made
                                                                                                                                                                  contingent
                                                                                                                                                                  upon
                                                                                                                                                                  the
                                                                                                                                                                  actual
                                                                                                                                                                  occurrence
                                                                                                                                                                  of
                                                                                                                                                                  the
                                                                                                                                                                  event).

 

The Administrator may adopt such valuation methodologies
for outstanding awards as it deems reasonable in the event of a cash or property settlement and, in the case of options, SARs or
similar rights, but without limitation on other methodologies, may base such settlement solely upon the excess if any of the per
share amount payable upon or in respect of such event over the exercise or base price of the award.

    	15

    	 

    
 

In any of the events referred to in this Section 7.2,
the Administrator may take such action contemplated by this Section 7.2 prior to such event (as opposed to on the occurrence of
such event) to the extent that the Administrator deems the action necessary to permit the participant to realize the benefits intended
to be conveyed with respect to the underlying shares. Without limiting the generality of the foregoing, the Administrator may deem
an acceleration to occur immediately prior to the applicable event and, in such circumstances, will reinstate the original terms
of the award if an event giving rise to an acceleration does not occur.

 

Without limiting the generality of Section 3.3, any
good faith determination by the Administrator pursuant to its authority under this Section 7.2 shall be conclusive and binding
on all persons.

 

		7.3	Other Acceleration Rules. The Administrator may override the provisions
of Section 7.2 by express provision in the award agreement and may accord any Eligible Person a right to refuse any acceleration,
whether pursuant to the award agreement or otherwise, in such circumstances as the Administrator may approve. The portion of any
ISO accelerated in connection with an event referred to in Section 7.2 (or such other circumstances as may trigger accelerated
vesting of the award) shall remain exercisable as an ISO only to the extent the applicable $100,000 limitation on ISOs is not exceeded.
To the extent exceeded, the accelerated portion of the option shall be exercisable as a nonqualified stock option under the Code.

 

		7.4	Definition of Change in Control. With respect to a particular award granted under this Plan, a “Change
in Control” shall be deemed to have occurred as of the first day, after the date of grant of the particular award, that any
one or more of the following conditions shall have been satisfied:

 

 

    	16

    	 

    
 

		(a)	The acquisition by
any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (a “Person”))
of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 30% of either (1) the
then-outstanding shares of common stock of the Corporation (the “Outstanding Company Common Stock”) or (2) the
combined voting power of the then-outstanding voting securities of the Corporation entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this clause
(a), the following acquisitions shall not constitute a Change in Control Event; (A) any acquisition directly from the Corporation,
(B) any acquisition by the Corporation, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained
by the Corporation or any affiliate of the Corporation or a successor, or (D) any acquisition by any entity pursuant to a transaction
that complies with Sections (c)(1), (2) and (3) below;
	 	 	 
	 	(b)	The acquisition by
any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (a “Person”))
of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 30% of either (1) the
then-outstanding shares of common stock of the Corporation (the “Outstanding Company Common Stock”) or (2) the
combined voting power of the then-outstanding voting securities of the Corporation entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this clause
(a), the following acquisitions shall not constitute a Change in Control Event; (A) any acquisition directly from the Corporation,
(B) any acquisition by the Corporation, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained
by the Corporation or any affiliate of the Corporation or a successor, or (D) any acquisition by any entity pursuant to a transaction
that complies with Sections (c)(1), (2) and (3) below;
	 	 	 
	 	(c)	Consummation of a
reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Corporation or
any of its Subsidiaries, a sale or other disposition of all or substantially all of the assets of the Corporation, or the acquisition
of assets or stock of another entity by the Corporation or any of its Subsidiaries (each, a “Business Combination”),
in each case unless, following such Business Combination, (1) all or substantially all of the individuals and entities that were
the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to
such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock
and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors,
as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a
result of such transaction, owns the Corporation or all or substantially all of the Corporation's assets directly or through one
or more subsidiaries (a “Parent”)) in substantially the same proportions as their ownership immediately prior
to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case
may be, (2) no Person (excluding any entity resulting from such Business Combination or a Parent or any employee benefit plan (or
related trust) of the Corporation or such entity resulting from such Business Combination or Parent) beneficially owns, directly
or indirectly, more than 30% of, respectively, the then-outstanding shares of common stock of the entity resulting from such Business
Combination or the combined voting power of the then-outstanding voting securities of such entity, except to the extent that the
ownership in excess of 30% existed prior to the Business Combination, and (3) at least a majority of the members of the board of
directors or trustees of the entity resulting from such Business Combination or a Parent were members of the Incumbent Board at
the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or

 

    	17

    	 

    
 

	 	 	 
	 	(d)	Approval by the stockholders
of the Corporation of a complete liquidation or dissolution of the Corporation other than in the context of a transaction that
does not constitute a Change in Control under clause (c) above.
	 	 	 
	 	 	 

 

8.OTHER
PROVISIONS

 

		8.1	Compliance with Laws. This Plan, the granting and vesting of awards
under this Plan, the offer, issuance and delivery of shares of Common Stock, and/or the payment of money under this Plan or under
awards are subject to compliance with all applicable federal and state laws, rules and regulations (including but not limited to
state and federal securities law and federal margin requirements) and to such approvals by any listing, regulatory or governmental
authority as may, in the opinion of counsel for the Corporation, be necessary or advisable in connection therewith. The person
acquiring any securities under this Plan will, if requested by the Corporation or one of its Subsidiaries, provide such assurances
and representations to the Corporation or one of its Subsidiaries as the Administrator may deem necessary or desirable to assure
compliance with all applicable legal and accounting requirements.

 

		8.2	No Rights to Award. No person shall have any claim or rights to be granted
an award (or additional awards, as the case may be) under this Plan, subject to any express contractual rights (set forth in a
document other than this Plan) to the contrary.

 

		8.3	No Employment/Service Contract. Nothing contained in this Plan (or in
any other documents under this Plan or in any award) shall confer upon any Eligible Person or other participant any right to continue
in the employ or other service of the Corporation or one of its Subsidiaries, constitute any contract or agreement of employment
or other service or affect an employee’s status as an employee at will, nor shall interfere in any way with the right of
the Corporation or one of its Subsidiaries to change a person’s compensation or other benefits, or to terminate his or her
employment or other service, with or without cause. Nothing in this Section 8.3, however, is intended to adversely affect any express
independent right of such person under a separate employment or service contract other than an award agreement.

 

    	18

    	 

    
 

		8.4	Plan Not Funded. Awards payable under this Plan shall be payable in
shares or from the general assets of the Corporation, and no special or separate reserve, fund or deposit shall be made to assure
payment of such awards. No participant, beneficiary or other person shall have any right, title or interest in any fund or in any
specific asset (including shares of Common Stock, except as expressly otherwise provided) of the Corporation or one of its Subsidiaries
by reason of any award hereunder. Neither the provisions of this Plan (or of any related documents), nor the creation or adoption
of this Plan, nor any action taken pursuant to the provisions of this Plan shall create, or be construed to create, a trust of
any kind or a fiduciary relationship between the Corporation or one of its Subsidiaries and any participant, beneficiary or other
person. To the extent that a participant, beneficiary or other person acquires a right to receive payment pursuant to any award
hereunder, such right shall be no greater than the right of any unsecured general creditor of the Corporation.

 

		8.5	Tax Withholding. Upon any exercise, vesting, or payment of any award,
or upon the disposition of shares of Common Stock acquired pursuant to the exercise of an ISO prior to satisfaction of the holding
period requirements of Section 422 of the Code, or upon any other tax withholding event with respect to any award, the Corporation
or one of its Subsidiaries shall have the right at its option to:

 

		(a)	require the participant (or the participant’s personal representative or beneficiary, as the case may be) to pay or provide
for payment of at least the minimum amount of any taxes which the Corporation or one of its Subsidiaries may be required to withhold
with respect to such award event or payment; or

 

		(b)	deduct from any amount otherwise payable in cash (whether related to the award or otherwise) to the participant (or the participant’s
personal representative or beneficiary, as the case may be) the minimum amount of any taxes which the Corporation or one of its
Subsidiaries may be required to withhold with respect to such award event or payment.

 

In any case where a tax is required
to be withheld in connection with the delivery of shares of Common Stock under this Plan, the Administrator may in its sole discretion
(subject to Section 8.1) require or grant (either at the time of the award or thereafter) to the participant the right to elect,
pursuant to such rules and subject to such conditions as the Administrator may establish, that the Corporation reduce the number
of shares to be delivered by (or otherwise reacquire) the appropriate number of shares, valued in a consistent manner at their
fair market value or at the sales price in accordance with authorized procedures for cashless exercises, necessary to satisfy the
minimum applicable withholding obligation on exercise, vesting or payment. In no event shall the shares withheld exceed the minimum
whole number of shares required for tax withholding under applicable law.

    	19

    	 

    
 

		8.6	Effective
                                                                                                                                                                  Date,
                                                                                                                                                                  Termination
                                                                                                                                                                  and
                                                                                                                                                                  Suspension,
                                                                                                                                                                  Amendments.

 

8.6.1Effective
Date. This Plan is effective as of April 4, 2012, the date of its approval by the Board (the “Effective Date”).
This Plan shall be submitted for and subject to stockholder approval no later than twelve months after the Effective Date. Unless
earlier terminated by the Board, this Plan shall terminate at the close of business on the day before the tenth anniversary of
the Effective Date. After the termination of this Plan either upon such stated expiration date or its earlier termination by the
Board, no additional awards may be granted under this Plan, but previously granted awards (and the authority of the Administrator
with respect thereto, including the authority to amend such awards) shall remain outstanding in accordance with their applicable
terms and conditions and the terms and conditions of this Plan.

 

8.6.2Board
Authorization. The Board may, at any time, terminate or, from time to time, amend, modify or suspend this Plan, in whole
or in part. No awards may be granted during any period that the Board suspends this Plan.

 

8.6.3Stockholder
Approval. To the extent then required by applicable law or any applicable listing agency or required under Sections 162,
422 or 424 of the Code to preserve the intended tax consequences of this Plan, or deemed necessary or advisable by the Board, any
amendment to this Plan shall be subject to stockholder approval.

 

8.6.4Amendments
to Awards. Without limiting any other express authority of the Administrator under (but subject to) the express limits
of this Plan, the Administrator by agreement or resolution may waive conditions of or limitations on awards to participants that
the Administrator in the prior exercise of its discretion has imposed, without the consent of a participant, and (subject to the
requirements of Sections 3.2 and 8.6.5) may make other changes to the terms and conditions of awards. Any amendment or other action
that would constitute a repricing of an award is subject to the limitations set forth in Section 3.2.

 

8.6.5Limitations
on Amendments to Plan and Awards. No amendment, suspension or termination of this Plan or amendment of any outstanding
award agreement shall, without written consent of the participant, affect in any manner materially adverse to the participant any
rights or benefits of the participant or obligations of the Corporation under any award granted under this Plan prior to the effective
date of such change. Changes, settlements and other actions contemplated by Section 7 shall not be deemed to constitute changes
or amendments for purposes of this Section 8.6.

 

		8.7	Privileges of Stock Ownership. Except as otherwise expressly authorized
by the Administrator, a participant shall not be entitled to any privilege of stock ownership as to any shares of Common Stock
not actually delivered to and held of record by the participant (subject to the last sentence of Section 5.1.4). Except as expressly
required by Section 7.1 or otherwise expressly provided by the Administrator, no adjustment will be made for dividends or other
rights as a stockholder for which a record date is prior to such date of delivery.

 

    	20

    	 

    
 

		8.8	Law; Construction; Severability.

 

8.8.1Choice
of Law. This Plan, the awards, all documents evidencing awards and all other related documents shall be governed by, and
construed in accordance with the laws of the State of Delaware.

 

8.8.2Severability.
If a court of competent jurisdiction holds any provision invalid and unenforceable, the remaining provisions of this Plan shall
continue in effect.

 

		8.8.3	Plan Construction.

 

		(a)	Rule 16b-3. It is the intent of the Corporation that the awards and transactions permitted by awards be interpreted
in a manner that, in the case of participants who are or may be subject to Section 16 of the Exchange Act, qualify, to the maximum
extent compatible with the express terms of the award, for exemption from matching liability under Rule 16b-3 promulgated under
the Exchange Act. Notwithstanding the foregoing, the Corporation shall have no liability to any participant for Section 16 consequences
of awards or events under awards if an award or event does not so qualify.

 

		(b)	Section 162(m). Awards under Section 5.1.4 to persons described in Section 5.2 that are either granted or become vested,
exercisable or payable based on attainment of one or more performance goals related to the Business Criteria, as well as Qualifying
Options and Qualifying SARs granted to persons described in Section 5.2, that are approved by a committee composed solely of two
or more outside directors (as this requirement is applied under Section 162(m) of the Code) shall be deemed to be intended as performance-based
compensation within the meaning of Section 162(m) of the Code unless such committee provides otherwise at the time of grant of
the award. It is the further intent of the Corporation that (to the extent the Corporation or one of its Subsidiaries or awards
under this Plan may be or become subject to limitations on deductibility under Section 162(m) of the Code) any such awards and
any other Performance-Based Awards under Section 5.2 that are granted to or held by a person subject to Section 162(m) will qualify
as performance-based compensation or otherwise be exempt from deductibility limitations under Section 162(m).

  

		8.9	Captions.
                                                                                                                                                                  Captions
                                                                                                                                                                  and
                                                                                                                                                                  headings
                                                                                                                                                                  are
                                                                                                                                                                  given
                                                                                                                                                                  to
                                                                                                                                                                  the
                                                                                                                                                                  sections
                                                                                                                                                                  and
                                                                                                                                                                  subsections
                                                                                                                                                                  of
                                                                                                                                                                  this
                                                                                                                                                                  Plan
                                                                                                                                                                  solely
                                                                                                                                                                  as
                                                                                                                                                                  a
                                                                                                                                                                  convenience
                                                                                                                                                                  to
                                                                                                                                                                  facilitate
                                                                                                                                                                  reference.
                                                                                                                                                                  Such
                                                                                                                                                                  headings
                                                                                                                                                                  shall
                                                                                                                                                                  not
                                                                                                                                                                  be
                                                                                                                                                                  deemed
                                                                                                                                                                  in
                                                                                                                                                                  any
                                                                                                                                                                  way
                                                                                                                                                                  material
                                                                                                                                                                  or
                                                                                                                                                                  relevant
                                                                                                                                                                  to
                                                                                                                                                                  the
                                                                                                                                                                  construction
                                                                                                                                                                  or
                                                                                                                                                                  interpretation
                                                                                                                                                                  of
                                                                                                                                                                  this
                                                                                                                                                                  Plan
                                                                                                                                                                  or
                                                                                                                                                                  any
                                                                                                                                                                  provision
                                                                                                                                                                  thereof.

 

    	21

    	 

    
 

		8.10	Stock-Based Awards in Substitution for Stock Options or Awards Granted by Other
Corporation. Awards may be granted to Eligible Persons in substitution for or in connection with an assumption of employee
stock options, SARs, restricted stock or other stock-based awards granted by other entities to persons who are or who will become
Eligible Persons in respect of the Corporation or one of its Subsidiaries, in connection with a distribution, merger or other reorganization
by or with the granting entity or an affiliated entity, or the acquisition by the Corporation or one of its Subsidiaries, directly
or indirectly, of all or a substantial part of the stock or assets of the employing entity. The awards so granted need not comply
with other specific terms of this Plan, provided the awards reflect only adjustments giving effect to the assumption or substitution
consistent with the conversion applicable to the Common Stock in the transaction and any change in the issuer of the security.
Any shares that are delivered and any awards that are granted by, or become obligations of, the Corporation, as a result of the
assumption by the Corporation of, or in substitution for, outstanding awards previously granted by an acquired company (or previously
granted by a predecessor employer (or direct or indirect parent thereof) in the case of persons that become employed by the Corporation
or one of its Subsidiaries in connection with a business or asset acquisition or similar transaction) shall not be counted against
the Share Limit or other limits on the number of shares available for issuance under this Plan.

 

		8.11	Non-Exclusivity of Plan. Nothing in this Plan shall limit or be deemed
to limit the authority of the Board or the Administrator to grant awards or authorize any other compensation, with or without reference
to the Common Stock, under any other plan or authority.

 

		8.12	No Corporate Action Restriction. The existence of this Plan, the award
agreements and the awards granted hereunder shall not limit, affect or restrict in any way the right or power of the Board or the
stockholders of the Corporation to make or authorize: (a) any adjustment, recapitalization, reorganization or other change in the
capital structure or business of the Corporation or any Subsidiary, (b) any merger, amalgamation, consolidation or change in the
ownership of the Corporation or any Subsidiary, (c) any issue of bonds, debentures, capital, preferred or prior preference stock
ahead of or affecting the capital stock (or the rights thereof) of the Corporation or any Subsidiary, (d) any dissolution or liquidation
of the Corporation or any Subsidiary, (e) any sale or transfer of all or any part of the assets or business of the Corporation
or any Subsidiary, or (f) any other corporate act or proceeding by the Corporation or any Subsidiary. No participant, beneficiary
or any other person shall have any claim under any award or award agreement against any member of the Board or the Administrator,
or the Corporation or any employees, officers or agents of the Corporation or any Subsidiary, as a result of any such action.

 

		8.13	Other Company Benefit and Compensation Programs. Payments and other
benefits received by a participant under an award made pursuant to this Plan shall not be deemed a part of a participant’s
compensation for purposes of the determination of benefits under any other employee welfare or benefit plans or arrangements, if
any, provided by the Corporation or any Subsidiary, except where the Administrator expressly otherwise provides or authorizes in
writing. Awards under this Plan may be made in addition to, in combination with, as alternatives to or in payment of grants, awards
or commitments under any other plans or arrangements of the Corporation or its Subsidiaries.

 

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		8.14	Clawback Policy. The awards granted under this Plan are subject to the
terms of the Corporation’s recoupment, clawback or similar policy as it may be in effect from time to time, as well as any
similar provisions of applicable law, any of which could in certain circumstances require repayment or forfeiture of awards or
any shares of Common Stock or other cash or property received with respect to the awards (including any value received from a disposition
of the shares acquired upon payment of the awards).

 

 

 

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