Document:

Supplemental Executive Retirement Plan

 Exhibit 10.18 
 MONARCH BANK 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

Effective January 1, 2008 

 MONARCH BANK 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 1. Purpose and Effective
Date. The purpose of the Monarch Bank Supplemental Executive Retirement Plan (the “Plan”) is to attract and retain the services of executive employees whose judgment, abilities and experience contribute to the financial success of the
Monarch Bank (the “Bank”). The Plan is intended to be a non-qualified deferred compensation plan within the meaning of Internal Revenue Code Section 409A and an arrangement exempt from the participation, funding and fiduciary
responsibility provisions of the Employee Retirement Income Security Act of 1974, as amended. The Bank has determined that the benefits to be paid to Participants under this Plan constitute reasonable compensation for the services rendered and to be
rendered by the Participants. 
 The effective date of this Plan is January 1, 2008. 

2. Definitions. 
 (a) Accrued Benefit. The vested portion of a Participant’s Normal Retirement Benefit, determined in accordance with Plan Section 5, as of the date the Participant separates from
service with the Bank. 
 (b) Bank. Monarch Bank, a Virginia state chartered bank. 

(c) Beneficiary. The person, persons, or entity designated by the Participant to receive his or her benefits
under the Plan in a writing filed with the Bank on a form provided by the Bank for purposes of the Plan or a writing acceptable to the Board. If the Participant fails to make a designation or if the person designated does not survive, the
Beneficiary shall be the Participant’s estate. 
 (d) Board. The Board of Directors of Monarch
Bank. 
 (e) Cause. For purposes of this Plan, Cause has the same meaning given to that term in the
Change in Control Agreement between a Participant and the Bank. If there is no Change in Control Agreement in effect, “Cause” means (i) gross incompetence, gross negligence, willful misconduct in office or breach of a material
fiduciary duty owed to Monarch or any affiliated company; (ii) conviction of a felony or a crime of moral turpitude (or a plea of nolo contendere thereto) or commission of an act of embezzlement or fraud against Monarch or any affiliated
company; (iii) any material breach by Employee of a material term of this Agreement, including, without limitation, material failure to perform a substantial portion of his duties and responsibilities hereunder; or (iv) deliberate
dishonesty of Employee with respect to Monarch or any affiliated company. 

 (f) Change in Control Event. A change in the
(i) ownership of the Bank, (ii) effective control of the Bank, or (iii) substantial ownership of the assets of the Bank that qualifies as a “Change in Control Event” for purposes of Code Section 409A pursuant to
regulations and guidance issued by the Internal Revenue Service. 
 (g) Code. The Internal Revenue
Code of 1986, as amended. A reference to a Code Section is intended to include regulations and guidance published by the Internal Revenue Service under such Section. 

(h) Disabled or Disability. A condition where the Participant (i) is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of
any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3
months under an accident and health plan covering employees of the Bank. The Board, in its sole discretion, shall determine whether a Participant has incurred a Disability in accordance with Code Section 409A and its determination shall be
binding for purposes of this Plan. 
 (i) Key Employee. Any Participant who is a Key Employee as
defined in Code Section 416(i) without regard to paragraph (5) thereof provided that the Bank is publicly traded on an established securities market or otherwise at the relevant time. 

(j) Normal Retirement Benefit. The “Normal Retirement Benefit” shall be the annual benefit set
forth in a Schedule A for each Participant payable in the form described in Section 6(b) below. 
 (k)
Normal Retirement Date. The first day of the month immediately following the date the Participant attains age sixty-five (65). 
 (l) Participant. An executive of the Bank who has been selected by the Board to participate in the Plan pursuant to Plan Section 3. 

3. Eligibility and Participation. Executive employees of the Bank who are part of a group considered by the Bank to constitute a
select group of management or highly compensated employees are eligible to participate in the Plan. The Board shall select Participants. The Board, in its sole discretion, may terminate an employee’s participation at any time unless the
Participant or his or her Beneficiary is receiving payment of Plan benefits. 
 4. Administration and Claims Procedure.
This Plan is administered by the Board. Subject to the Plan’s provisions, the Board may adopt rules and regulations necessary to carry out the Plan’s purposes. The Board shall have complete discretion to select individuals to
participate in the Plan, to terminate any Participant’s participation and to take all other actions permitted or required by the Plan. If for any reason a benefit due under this Plan 

  
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is not paid when due, the individual entitled to such benefit may file a written claim with the Board. If the claim is denied or no response is received within ninety (90) days (in which
case the claim will be deemed to have been denied), the individual may appeal the denial to the Board within sixty (60) days of the denial. In pursuing an appeal, an individual may request that a responsible officer of the Bank may review the
denial, may review pertinent documents, and may submit issues and comments in writing. A decision on appeal will be made within sixty (60) days after the appeal is made, unless special circumstances require the Board to extend the period for
another sixty (60) days. 
 5. Vesting. 

(a) Vesting Service. Subject to subsection (b) below, a Participant’s vested Accrued Benefit shall
be determined as of the date the Participant separates from service as an employee of the Bank for any reason other than the Participant’s death. A Participant who terminates employment prior to Retirement shall be entitled to the Normal
Retirement Benefit described in “Schedule A” multiplied by a percentage which corresponds to the Participant’s attained age on the date of termination of employment. 

If the Participant’s employment terminates for any reason other than death prior to becoming vested in any portion of
his Accrued Benefit, the Participant’s vested Accrued Benefit shall be zero (-0-) and the Participant shall forfeit any rights to deferred compensation benefits under this Plan. 

(b) Acceleration of Vesting. The Board, in its sole discretion, may accelerate the vesting of a
Participant’s Accrued Benefit, in whole or in part, for any reason. 
 (c) Forfeiture Events.
Notwithstanding the foregoing, a Participant shall forfeit the right to payment of any and all benefits, both vested and unvested, under this under this Plan if the Participant’s employment with the Bank is terminated for Cause. The forfeiture
shall occur as of the date of the misconduct. 
 6. Time and Form of Benefit Payments. 

(a) In General. A Participant’s benefit under this Plan shall begin to be distributed, in the form
specified below, upon the earliest of the following events to occur: 
  

	 	(i)	the Participant’s Normal Retirement Date; 

  

	 	(ii)	the date of the Participant’s separation from service with the Bank, except as otherwise provided in (c) below; 

 

	 	(iii)	the date the Participant becomes Disabled; 

  
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	 	(iv)	a Change in Control Event; or 

  

	 	(v)	the Participant’s death. 

 (b) Payment at Normal Retirement. A Participant’s Normal Retirement Benefit shall become due and payable on the first day of the month coinciding with or next following the
Participant’s Normal Retirement Date. The Participant’s benefit shall be paid in ten (10) equal annual installments at an amount specified by the Board and set forth in a Schedule A for each Participant. After the first installment,
each subsequent annual installment payment will be made no later than January 31 each year. 
 (c)
Payment upon Separation From Service. If a Participant separates from service prior to his or her Normal Retirement Date for any reason other than death, but including a separation on account of the Participant’s Disability, the
Participant’s vested Accrued Benefit shall be determined as of the date of separation. A Participant’s vested Accrued Benefit shall become due and payable on the first day of the third month coinciding with or next following the
Participant’s separation from service. If the Participant is a Key Employee, then such Participant’s benefit under this Plan shall not be distributed earlier than the date which is 6 months after the date of separation from service (or, if
earlier, the date of death of the Participant). 
 (d) Payment After a Change in Control Event. If
a Participant separates from service with the Bank within 36 months following a Change in Control Event, then the Participant shall become fully vested in his Normal Retirement Benefit. Participant’s Normal Retirement Benefit shall be paid to
the Participant in a single lump sum payment (as determined by an actuary selected by the Board using an interest rate discount factor of six percent (6%)) no later than the first day of the second month following the month in which the
Participant’s separation from service occurs. 
 (e) Death Benefit.
(1) Post-Retirement. If a Participant dies on or after his or her Normal Retirement Date and before any or all of his vested Accrued Benefit under this Plan has been distributed, any remaining payments due to the Participant shall
be made to the Participant’s Beneficiary in equal annual installments. Payments will begin as soon as administratively practicable after the Bank is notified of the Participant’s death and receives a copy of a certified death certificate.
Each annual installment payment will be made no later than January 31 each year. 
 (2)
Pre-Retirement. If a Participant dies before his or her Normal Retirement Date, Participant’s Beneficiary shall become fully vested in the present value of the Participant’s Normal Retirement Benefit determined as of the date
of death using an interest rate discount factor of six percent (6%). The death benefit shall be paid to the Participant’s Beneficiary in single lump sum payment. Payments will begin as soon as administratively practicable after the Bank is
notified of the Participant’s death and receives a copy of a certified death certificate but not later than the first day of the third month following the date of Participant’s death. 

  
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 7. Funding. This Plan is unfunded. Any benefit under this Plan is a mere contractual
obligation of the Bank. A Participant and his Beneficiary have no right, title, or interest in the Normal Retirement Benefit or any claim against it. Nothing contained in the Plan and no action taken pursuant to the provisions of the Plan shall
create or be construed to create a trust of any kind or a fiduciary relationship between the Bank and a Participant or his Beneficiary or any other person. To the extent a Participant acquires a right to receive payments from the Bank under the
Plan, such rights shall be no greater than the right of any general unsecured creditor of the Bank. 
 8. Amendment. The
Board may amend this Plan at any time, provided that no amendment shall affect the rights of a Participant or Beneficiary with respect to the Participant’s vested Accrued Benefit as of the date of the amendment, nor shall any such amendment
have the effect of accelerating the timing of payments under Section 6, unless this is approved by the Participant and in the case of the Participant’s death, his Beneficiary. 

9. Arbitration. Except for injunctive relief sought to enforce an ongoing violation resulting in irreparable harm, any dispute
arising hereunder shall be settled or resolved exclusively by mediation and/or arbitration conducted in accordance with the rules of the American Arbitration Association then in effect. If arbitration is used, the arbitrator shall not have the
authority to modify this Agreement or to award punitive damages. The arbitration shall occur at a mutually convenient location or if none can be agreed upon, in the City of Chesapeake, Virginia. The arbitrator’s decision shall be final and
enforceable by a court of competent jurisdiction. 
 10. General Provisions. 

(a) Restrictions on Transfer. Benefits to which a Participant or Beneficiary may become entitled under this
Plan are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge, and any attempt to do so is void. Benefits are not subject to attachment or legal process for the debts, contracts,
liabilities, engagements, or torts of a Participant or Beneficiary. This Plan does not give a Participant or Beneficiary any interest, lien, or claim against any specific asset of the Bank. Participants and their Beneficiaries have only the rights
of general creditors of the Bank. 
 (b) Assignments. A Participant’s interest in a benefit
under this Plan is not assignable by the Participant or his Beneficiary. The Bank may assign its responsibilities and obligations under the Plan to a successor or other entity with notice to Participants or Beneficiaries. 

(c) Governing Law. This Plan is construed and administered in accordance with Code Section 409A and
governed by the laws of the Commonwealth of Virginia, 

  
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except to the extent such laws are preempted by Code Section 409A or other applicable federal law. Any provision of this Plan that violates or conflicts with Code Section 409A, or
regulations or guidance issued thereunder, shall be null and void. 
 (d) Validity. If any
provision of this Plan is not valid or enforceable, that invalidity or enforceability shall not affect the remaining provisions. 
 (e) Employment Rights. This Plan shall not be construed as a contract of employment and does not confer upon a Participant the right to continue in the employ of the Bank for any length of
time or in any manner alter the terms of any Participant’s employment set forth in any employment agreement to which the Bank and the Participant are or may in the future be parties. 

(f) Tax Matters. The Bank does not represent or guarantee that any particular federal, state or local income
or payroll tax consequence will result to any Participant under this Plan. The Bank shall have the right to withhold from any benefit payments to any Participant under this Plan or take other actions necessary to satisfy the Bank’s obligation
to withhold federal, state and local income and payroll taxes, but shall not withhold any funds unless obligated by law or court order. 
 (g) Notice. All notices and other communications required or permitted to be given under this Plan shall be in writing and shall be deemed to have been duly given if delivered personally,
electronically or mailed first class, postage prepaid as follows: (i) if to the Bank - at its principal business address to the attention of the President and Chief Executive Officer; (ii) if to any Participant - at the last address of the
Participant known to the sender at the time the notice or other communication is sent. 
 (h) Binding upon
Successors and Assigns. The provisions of this Plan shall be binding upon the Participant and the Bank and their successor, assigns, heirs, executors and beneficiaries. 

IN WITNESS WHEREOF, the Bank has caused this Plan to be executed this 1st day of January, 2008 by its duly authorized officer. 

 

			
	MONARCH BANK
		
	By:	 	 /s/ William F. Rountree, Jr

		
	Title:	 	 Chief Executive Officer

  
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 Schedule “A” 
 TO MONARCH BANK 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

The undersigned acknowledges that he has carefully read the attached Monarch Bank Supplemental Executive Retirement Agreement dated
January 1, 2008, and the undersigned, and agrees to the following terms and conditions stated therein naming him as a Participant under Section 3 of the Plan effective January 1, 2008 with a Normal Retirement Benefit of $30,000 under
Section 6(b) of the Plan. Participant shall vest in his Normal Retirement Benefit in accordance with the following vesting schedule: 
  

					
	Vesting Date	  	Vesting Percentage	 
	 12/31/2008
	  	 	10	% 
	 12/31/2009
	  	 	20	% 
	 12/31/2010
	  	 	30	% 
	 12/31/2011
	  	 	40	% 
	 12/31/2012
	  	 	50	% 
	 12/31/2013
	  	 	60	% 
	 12/31/2014
	  	 	70	% 
	 12/31/2015
	  	 	80	% 
	 12/31/2016
	  	 	90	% 
	 12/31/2017
	  	 	100	% 

  

							
	 /s/ William T. Morrison
	 		 	 December 31, 2007

	William T. Morrison	 		 	Date
			
	Witness:	 		 	
			
	Administrator	 		 	
				
	By:	 	 /s/ William F. Rountree, Jr
	 		 	 December 31, 2007

		 		 		 	Date
	Title:	 	 Chief Executive OfficerForm of Non-Qualified Stock Option Agreement

 Exhibit 10.1 
 H.B. FULLER COMPANY 
 NON-QUALIFIED STOCK OPTION AGREEMENT

 (Under the Amended and Restated 
 H.B. Fuller Company Year 2000 Stock Incentive Plan) 
 THIS AGREEMENT, dated
as of                      , 20     is entered into between H.B. Fuller Company, a Minnesota corporation (the
“Company”), and                     , an officer or other employee of the Company or an Affiliate of the Company
(“Participant”). 
 The Company, pursuant to the Amended and Restated H.B. Fuller Company Year 2000 Stock Incentive
Plan (the “Plan”), wishes to grant stock options for the purchase of Common Stock, par value $1.00 per share, of the Company (“Common Stock”), to Participant on the terms and conditions contained in this Agreement and the Plan.

 Capitalized terms used herein and not otherwise defined shall have the meaning given such terms in the Plan. 

Accordingly, in consideration of the premises and agreements set forth herein, the parties hereto hereby agree as follows: 

 

	 	1.	Grant of Option. 

 The
Company, effective as of the date of this Agreement, hereby grants to Participant, as a matter of separate agreement and not in lieu of salary or other compensation for services rendered, the right and option (the “Option”) to purchase all
or any part of an aggregate of                      shares of Common Stock (the “Shares”) at the price of
$             per share on the terms and conditions set forth in this Agreement. The Option is not intended to be an incentive stock option within the meaning of the Internal Revenue
Code of 1986, as amended. 
  

	 	2.	Vesting and Term of Option. 

 (a) The Option may not be exercised prior to                    ,
20    . Commencing on                     , 20    , the Option may be exercised by
Participant prior to its termination in cumulative annual installments as follows: 
  

			
	 Date
	  	
Percentage of Shares as to
which Option is Exercisable

		
	
                    ,
20    
	  	    %
	
                    ,
20    
	  	    %
	
                    ,
20    
	  	    %
	
                    ,
20    
	  	    %
	
                    ,
20    
	  	    %

 The Option shall in all events terminate
on                    , 20     or such earlier date as prescribed herein. 

(b) Notwithstanding the vesting provision contained in Section 2(a) above, but subject to the other terms and conditions set forth
herein, the Option may be exercised, in whole or in part, at any time, or from time to time, following the occurrence of a Change in Control of the Company. 
 (c) For the purposes of this Agreement, a “Change in Control” shall be deemed to have occurred upon any of the following events: 

(i) a public announcement (which, for purposes hereof, shall include, without limitation, a report filed pursuant to
Section 13(d) of the Exchange Act) that any individual, corporation, partnership, association, trust or other entity becomes the beneficial owner (as defined in Rule 13(d)(3) promulgated under the Exchange Act), directly or indirectly, of
securities of the Company representing 30% or more of the Voting Power of the Company then outstanding; 
 (ii)
the individuals who, as of the date of this Agreement, are members of the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board (provided, however, that if the
election or nomination for election by the Company’s shareholders of any new director was approved by a vote of at least a majority of the Incumbent Board, such new director shall be considered to be a member of the Incumbent Board);

 (iii) the approval of the shareholders of the Company, and consummation, of (A) any consolidation, merger
or statutory share exchange of the Company with any person in which the surviving entity would not have as its directors at least 60% of the Incumbent Board and as a result of which those persons who were shareholders of the Company immediately
prior to such transaction would not hold, immediately after such transaction, at least 60% of the Voting Power of the Company then outstanding or the combined voting power of the surviving entity’s then outstanding voting securities;
(B) any sale, lease, exchange or other transfer in one transaction or series of related transactions substantially all of the assets of the Company; or (C) the adoption of any plan or proposal for the complete or partial liquidation or
dissolution of the Company; or 
 (iv) a determination by a majority of the members of the Incumbent Board, in
their sole and absolute discretion, that there has been a Change in Control of the Company. 
 For purposes of this Section 2(c),
“Voting Power” when used with reference to the Company shall mean the voting power of all classes and series of capital stock of the Company now or hereafter authorized. 

  
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	 	3.	Effect of Termination of Employment. 

 The Option shall terminate and may no longer be exercised if Participant ceases to be employed by the Company or an Affiliate of the Company, except that: 

(a) If the Participant voluntarily terminates Participant’s employment or if the Company or an Affiliate of the Company terminates
Participant’s employment for any reason other than gross and willful misconduct, disability, retirement or death, Participant may exercise the Option at any time within ninety (90) days after such termination of employment to the extent
that the Option was exercisable by Participant on the date of such termination, but not after the expiration of the term of the Option. 
 (b) If the Company or an Affiliate of the Company terminates Participant’s employment by reason of gross and willful misconduct during the course of employment, including, but not limited to,
wrongful appropriation of funds or the commission of a gross misdemeanor or felony, the Option shall be terminated as of the date of the misconduct. 
 (c) If Participant’s employment is terminated by reason of disability or retirement, the restrictions on Participant’s ability to exercise any percentage of the Option as set forth in
Section 2(a), shall lapse and the Option shall vest in full. If Participant’s employment is terminated by reason of retirement, Participant may exercise the Option at any time prior to the end of the term of the Option, but not after the
expiration of the term of the Option. If Participant’s employment is terminated by reason of disability, Participant may exercise the Option at any time within three years after such termination of employment, but not after the expiration of
the term of the Option. If Participant shall die following any such termination, the Option may be exercised at any time within 12 months after the date of Participant’s death by the personal representatives or administrators of Participant or
by any beneficiary designated in a manner established by the Committee or person or persons to whom the Option has been transferred by will or the applicable laws of descent and distribution, subject to the condition that the Option shall not be
exercisable after the expiration of the term of the Option. 
 (d) If Participant shall die while in the employ of the Company
or an Affiliate of the Company, the restrictions on Participant’s (or his or her heirs’) ability to exercise any percentage of the Option as set forth in Section 2(a), shall lapse and the Option shall vest in full. The Option may be
exercised at any time within 12 months after the date of Participant’s death by the personal representatives or administrators of Participant or by any beneficiary designated in a manner established by the Committee or person or persons to whom
the Option has been transferred by will or the applicable laws of descent and distribution, subject to the condition that the Option shall not be exercisable after the expiration of the term of the Option. 

  
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 For purposes of this Section 3, “retirement” shall mean the voluntary or involuntary
termination of Participant’s employment for any reason other than gross and willful misconduct, disability or death, after the Participant has completed at least ten years of service as an employee of the Company and/or an Affiliate of the
Company and has attained age 55. 
  

	 	4.	Method of Exercising Option. 

 (a) Subject to the terms and conditions of this Agreement, the Option shall be exercised by the delivery of written notice of exercise (the “Notice”) to the Company (to the attention of the
Equity Compensation Specialist) or its agent. The Notice shall be in written form or such other form as the Company may prescribe and shall state the election to exercise the Option, the number of Shares as to which the Option is
being exercised and the manner of payment and shall be signed by the person or persons so exercising the Option. The notice shall be accompanied by payment in full of the exercise price for all Shares designated in the notice The Notice shall also
be accompanied by such other information and documents as the Company, in its discretion, may request. To the extent that the Option is exercised after Participant’s death, the notice of exercise shall also be accompanied by appropriate
proof of the right of such person or persons to exercise the Option. 
 (b) Payment of the exercise price shall be made to the
Company through one or a combination of the following methods: 
  

	 	(i)	delivery of a certified or cashier’s check, or a wire transfer, payable to the Company or cash, in United States currency; 

 

	 	(ii)	delivery of shares of Common Stock acquired by Participant more than six months prior to the date of exercise having a Fair Market Value on the date of exercise equal
to the Option exercise price. Participant shall duly endorse all certificates delivered to the Company in blank and shall represent and warrant in writing that Participant is the owner of the shares so delivered, free and clear of all liens,
encumbrances, security interests and restrictions; or 

  

	 	(iii)	if permitted by the Company in its sole discretion, by executing a “cashless exercise” through the Company’s designated broker. 

  
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	 	5.	Income Tax Withholding. 

In order to provide the Company with the opportunity to claim the benefit of any income tax deduction which may be available to it upon
the exercise of the Option, and in order to comply with all applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal or state income, withholding,
social, payroll or other taxes, which are the sole and absolute responsibility of Participant, are withheld or collected from Participant. Participant may, at Participant’s election (the “Tax Election”), satisfy applicable tax
withholding obligations by (a) electing to have the Company withhold a portion of the Shares of Common Stock otherwise to be delivered upon exercise of the Option having a Fair Market Value equal to the amount of such taxes or
(b) delivering to the Company shares of Common Stock having a Fair Market Value equal to the amount of such taxes. The Tax Election must be made on or before the date that the amount of tax to be withheld is determined. 

 

	 	6.	Adjustments. 

 In the
event that the Committee shall determine that any dividend or other distribution (whether in the form of cash, shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation,
split-up, spin-off, combination, repurchase or exchange of shares or other securities of the Company, issuance of warrants or other rights to purchase shares or other securities of the Company or other similar corporate transaction or event affects
the Shares covered by the Option such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under this Agreement, then the
Committee shall, in such manner as it may deem equitable, in its sole discretion, adjust any or all of the number and type of the Shares covered by the Option and the exercise price of the Option. 

 

	 	7.	Securities Matters. 

 No
Shares shall be issued hereunder prior to such time as counsel to the Company shall have determined that the issuance of the Shares will not violate any federal or state securities or other laws, rules or regulations. The Company shall not be
required to deliver any Shares until the requirements of any federal or state securities or other laws, rules or regulations (including the rules of any securities exchange) as may be determined by the Company to be applicable are satisfied. In
addition, the grant of this Option and/or the delivery of any Shares under this Agreement are subject to any clawback policies the Company may adopt in the future to conform to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
and any applicable rules and regulations of the Securities and Exchange Commission. 

  
 -5-

  

	 	8.	General Provisions. 

 (a)
Interpretations. This Agreement is subject in all respects to the terms of the Plan. Terms used herein which are defined in the Plan shall have the respective meanings given to such terms in the Plan, unless otherwise defined herein. In the
event that any provision of this Agreement is inconsistent with the terms of the Plan, the terms of the Plan shall govern. Any question of administration or interpretation arising under this Agreement shall be determined by the Committee, and such
determination shall be final, conclusive and binding upon all parties in interest. 
 (b) No Rights as a Shareholder.
Neither Participant nor Participant’s legal representatives shall have any of the rights and privileges of a shareholder of the Company with respect to the Shares of Common Stock subject to the Option until such Shares shall have been issued
upon exercise of the Option. 
 (c) No Right to Employment. Nothing in this Agreement or the Plan shall be construed as
giving Participant the right to be retained as an employee of the Company or any Affiliate. In addition, the Company or an Affiliate may at any time dismiss Participant from employment, free from any liability or any claim under this Agreement,
unless otherwise expressly provided in this Agreement. 
 (d) Option Not Transferable. The Option shall not be
transferable other than (i) by will or by the laws of descent and distribution, or (ii) by designating a beneficiary or beneficiaries (in a manner established by the Committee) to exercise the rights of the Participant and receive any
property distributable with respect to any Option upon the death of the Participant. During Participant’s lifetime the Option shall be exercisable only by Participant or, if permissible under applicable law, by Participant’s guardian or
legal representative. The Option may not be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance of the Option shall be void and unenforceable against the Company. 

(e) Reservation of Shares. The Company shall at all times during the term of the Option reserve and keep available such number of
shares of Common Stock as will be sufficient to satisfy the requirements of this Agreement. 
 (f) Headings. Headings are
given to the sections and subsections of this Agreement 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 Agreement or any provision
hereof. 

  
 -6-

 (g) Governing Law. The internal law, and not the law of conflicts, of the State of
Minnesota will govern all questions concerning the validity, construction and effect of this Agreement. 
 IN WITNESS WHEREOF,
the parties hereto have executed this Agreement to be effective as of the date first set forth above. 
  

			
	H.B. FULLER COMPANY
	 By:
	 	  
  

	
	  

	 [employee]

		
	 Date:
	 	  

  
 -7-

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