Document:

EX-10.4

 Exhibit 10.4 

MARKET STOCK UNIT AWARD AGREEMENT (“Agreement”) 

This Market Stock Unit Award (“Award”) is awarded on
                     (“Date of Grant”), by Motorola Solutions, Inc. (the “Company” or “Motorola
Solutions”) to Gregory Q. Brown (the “Grantee”). 
 WHEREAS, Grantee is receiving the Award (as a type of
Restricted Stock Units) under Section 8 of the Motorola Solutions Omnibus Incentive Plan of 2006, as amended (the “Omnibus Plan”); 

WHEREAS, Grantee and Motorola, Inc. entered into an employment agreement (the “Employment Agreement”), dated as of the 27th
day of August 2008 as amended from time to time; 
 WHEREAS, the Award is a grant of Motorola Solutions market stock units authorized by the
Board of Directors and the Board’s Compensation and Leadership Committee (the “Compensation Committee”); and 

WHEREAS, it is a condition to Grantee receiving the Award that Grantee accept the terms, conditions and Restrictions applicable to the market
stock units as set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good
and valuable consideration, the Company hereby awards market stock units to Grantee on the following terms and conditions: 
  

	1.	Award of Market Stock Units. The Company hereby grants to Grantee a target number of                     
Motorola Solutions market stock units (the “MSUs”) subject to the terms and conditions set forth below and subject to the terms of the Omnibus Plan and the applicable terms of the Employment Agreement. No MSU shall be paid unless
earned and vested in accordance with this Agreement. All Awards shall be paid in whole shares of Motorola Solutions Common Stock (“Common Stock”); no fractional shares shall be credited or delivered to Grantee. 

 

	2.	Restrictions. The MSUs are being awarded to Grantee subject to the transfer and forfeiture conditions set forth below (the “Restrictions”) which shall lapse, if at all, as described in
Section 3 below. 

  

	 	a.	Grantee may not directly or indirectly, by operation of law or otherwise, voluntarily or involuntarily, sell, assign, pledge, encumber, charge or otherwise transfer any of the MSUs still subject to Restrictions. The
MSUs shall be forfeited if Grantee violates or attempts to violate these transfer Restrictions. Motorola Solutions shall have the right to assign this Agreement, which shall not affect the validity or enforceability of this Agreement, subject to the
limitations on assignment contained in the Employment Agreement. This Agreement shall inure to the benefit of assigns and successors of Motorola Solutions and that references to Motorola Solutions or the Company shall include any such assigns and
successors. 

  

	 	b.	Any MSUs still subject to the Restrictions shall be automatically forfeited upon Grantee’s termination of employment pursuant to Section 5(c) of the Employment Agreement. 

 

	 	c.	 Sections 7(a), (b) and (c) (together, the “Restrictive Covenants”) of the Employment Agreement are hereby incorporated
by reference into this Award and shall apply as if fully set forth herein mutatis mutandis and any capitalized terms used in such Sections 7(a), (b) and (c) shall have the meanings ascribed to such terms in the Employment Agreement.
If Grantee breaches the Restrictive Covenants, in addition to 

	 	
all remedies in law and/or equity available to the Company or any Subsidiary, Grantee shall forfeit all MSUs under the Award whose Restrictions have not lapsed, and, for all MSUs under the Award
whose Restrictions have lapsed, Grantee shall immediately pay to the Company the Fair Market Value (as defined in paragraph 7 below) of Motorola Solutions Common Stock (“Common Stock”) on the date(s) such Restrictions lapsed,
without regard to any taxes that may have been deducted from such amount. 

  

	 	d.	The MSUs are subject to the terms and conditions of the Company’s Policy Regarding Recoupment of Incentive Payments upon Financial Restatement, as such policy is in effect on the Date of Grant (such policy, being
the “Recoupment Policy”). The Recoupment Policy provides that, in the event of certain accounting restatements (a “Policy Restatement”) the Company’s independent directors may require, among other things
(i) cancellation of any of the MSUs that remain outstanding; and/or (ii) reimbursement of any gains in respect of the MSUs, if and to the extent the conditions set forth in the Recoupment Policy apply. Any determinations made by the
independent directors in accordance with the Recoupment Policy shall be binding upon Grantee. The Recoupment Policy is in addition to any other remedies which may be otherwise available to the Company at law, in equity or under contract, or
otherwise required by law, including under Section 10D of the Exchange Act. 

 The Company will not be obligated to pay Grantee any
consideration whatsoever for forfeited MSUs. 

	3.	Vesting. Subject to the remaining terms and conditions of this Award, and provided the MSUs have not been forfeited as described in Section 2 above, the MSUs will be earned and vest as follows:

  

	 	a.	The MSUs will be earned and vest in accordance with the following schedule (the applicable date, the “MSU Vesting Date”): 

  

	 	(i)	For purposes of vesting, the MSU grant shall be divided into three equal Tranches, each of which shall include one-third of the number of MSUs specified in Section 1 above. The MSUs shall vest only if the Share
Price (as defined below) on the applicable MSU Vesting Date equals at least 60% of the Share Price on the Date of Grant. If this threshold condition is satisfied, MSUs shall vest to the extent provided in the following schedule: 

 

											
	 (A)

Tranche
	  	 (B)

Target MSUs in

Tranche
	  	 (C)

MSU Vesting

Date
	  	 (D)

Payout Factor
	  	 (E)

Number of MSUs

Earned
	  	 (F)

Performance
Period

						
	1	  	1/3 of Target Total MSUs	  	1st Anniversary of Date of Grant	  	Share Price on MSU Vesting Date divided by Share Price on Date of Grant	  	MSUs in Tranche (Column B) times Payout Factor (Column D)	  	12 months
						
	2	  	1/3 of Target Total MSUs	  	2nd Anniversary of Date of Grant	  	Share Price on MSU Vesting Date divided by Share Price on Date of Grant	  	MSUs in Tranche (Column B) times Payout Factor (Column D)	  	24 months
						
	3	  	1/3 of Target Total MSUs	  	3rd Anniversary of Date of Grant	  	Share Price on MSU Vesting Date divided by Share Price on Date of Grant	  	MSUs in Tranche (Column B) times Payout Factor (Column D)	  	36 months

 For purposes of the table set forth above— 
  

	(A)	“Share Price” shall equal the average of the closing share price of the Company’s Common Stock on the MSU Vesting Date or Date of Grant, as applicable, and the thirty calendar days immediately preceding
the MSU Vesting Date or Date of Grant. If there were no trades on the MSU Vesting Date or Date of Grant, the closing price on the most recent date on which there were trades and the thirty calendar days immediately preceding that date shall be used.

  

	(B)	“Payout Factor” shall be rounded to the nearest hundredth (two places after the decimal), except that if the “Payout Factor” equals more than 2.00, the Payout Factor used in Column E shall be 2.00.

 Any MSUs that fail to be earned pursuant to Section 3(a)(i) shall be forfeited, subject to the special provisions set
forth in Sections 3(a)(ii), (b) and (c). 
 For purposes of this Agreement, the “Restriction Period” applicable to an MSU
shall refer to the period of time beginning on the Date of Grant and ending on the applicable MSU Vesting Date. Any unvested MSUs shall be automatically forfeited upon the Grantee’s termination of employment with Motorola Solutions prior to the
applicable MSU Vesting Date for any reason other than those set forth in Sections 3(a)(ii), (b) and (c) below. The Company will not be obligated to pay Grantee any consideration whatsoever for forfeited MSUs. 

 

	 	(ii)	In addition, the Restrictions applicable to the MSUs shall lapse in accordance with the terms of Section 5 of the Employment Agreement if and to the extent applicable provisions under Section 5 of the
Employment Agreement are triggered. 

	 	b.	If, during the Restriction Period, the Grantee takes a Leave of Absence from Motorola Solutions or a Subsidiary, the MSUs will continue to be subject to this Agreement. If the Restriction Period expires while the
Grantee is on a Leave of Absence the Grantee will be entitled to the MSUs even if the Grantee has not returned to active employment. “Leave of Absence” means an approved leave of absence from Motorola Solutions or a Subsidiary that is not
a termination of employment, as determined by Motorola Solutions. 

  

	 	c.	In the case of Termination due to (i) a Divestiture (which shall mean if Grantee accepts employment with another company in direct connection with the sale, lease, outsourcing arrangement or any other type of asset
transfer or transfer of any portion of a facility or any portion of a discrete organizational unit of Motorola Solutions or a Subsidiary, or if Grantee remains employed by a Subsidiary that is sold), or (ii) Retirement (which shall mean the
Grantee’s voluntary termination of employment prior to the end of the Restriction Period (A) at or after age 55 with at least 10 years of service, (B) at or after age 60 with at least 5 years of service, or (C) at or after age
65), in each case, before the expiration of the Restriction Period, and if the MSUs have not been forfeited as described in Section 2 above, then the MSUs shall vest and be paid (subject to performance through each of the applicable MSU Vesting
Dates) on a pro rata basis with respect to each unexpired Tranche for each of the Performance Periods in an amount equal to (a) the target number of MSUs subject to this Award in each unexpired Tranche, multiplied by (b) a fraction, the
numerator of which is the number of completed full months of service by the Grantee from the Date of Grant to the employee’s date of termination and the denominator of which is the number of months in the Performance Period for the applicable
unexpired Tranche. Notwithstanding the formula in the table in Section 3(a)(i), the Payout Factor for a payment pursuant to this Section 3(c) shall be equal to the Share Price on the MSU Vesting Date for the applicable unexpired Tranche(s)
divided by the Share Price on the Date of Grant. 

  

	4.	Adjustments. If the number of outstanding shares of Common Stock is changed as a result of a stock split or the like without additional consideration to the Company, the number of MSUs subject to this Award shall
be adjusted to correspond to the change in the outstanding shares of Common Stock. 

  

	5.	Dividends. No dividends (or dividend equivalents) shall be paid with respect to MSUs credited to the Grantee’s account. 

  

	6.	Delivery of Certificates or Equivalent. 

  

	 	a.	Upon the vesting of the applicable MSUs, the Company shall at its election, either (i) deliver to the Grantee a certificate representing a number of shares of Common Stock equal to the number of MSUs upon which
such Restrictions have lapsed, or (ii) establish a brokerage account for the Grantee and credit to that account the number of shares of Common Stock of the Company equal to the number of MSUs upon which such Restrictions have lapsed.

  

	 	b.	Subject to Sections 6(c) and 17, the actions contemplated by clauses (i) and (ii) above shall occur within 60 days following the date that the applicable MSUs vested. 

 

	 	c.	 The performance goals contained in Section 3 hereof are meant to constitute Performance Criteria as defined in the Omnibus Plan and are subject
to the provisions of the Omnibus Plan applicable to Performance Criteria. Except for amounts payable pursuant to 

	 	
Sections 3(a)(ii), no amounts will be paid for a Tranche under this Award prior to the and Compensation Committee certifying achievement of the relevant Performance Criteria contained herein
applicable to such Tranche. 

  

	7.	Withholding Taxes. The Company is entitled to withhold applicable taxes for the respective tax jurisdiction attributable to this Award or any payment made in connection with the MSUs. Grantee may satisfy any
minimum withholding obligation in whole or in part by electing to have the plan administrator retain shares of Common Stock deliverable in connection with the MSUs having a Fair Market Value on the applicable MSU Vesting Date. “Fair Market
Value” for this purpose shall be the closing price for a share of Common Stock on the applicable MSU Vesting Date as reported for the New York Stock Exchange- Composite Transactions in the Wall Street Journal at www.online.wsj.com or, for
purposes of imposing sanctions under paragraph 2(d), on any date specified therein. In the event the New York Stock Exchange is not open for trading on the applicable MSU Vesting Date, or if the Common Stock does not trade on such day, Fair Market
Value for this purpose shall be the closing price of the Common Stock on the last trading day prior to the applicable MSU Vesting Date. 

  

	8.	Voting and Other Rights. 

  

	 	a.	Grantee shall have no rights as a stockholder of the Company in respect of the MSUs, including the right to vote and to receive cash dividends and other distributions until delivery of Common Stock in satisfaction of
the MSUs. 

  

	 	b.	The grant of MSUs does not confer upon Grantee any right to continue in the employ of the Company or a Subsidiary or to interfere with the right of the Company or a Subsidiary, to terminate Grantee’s employment at
any time. 

  

	9.	Consent to Transfer Personal Data. By accepting this award, Grantee voluntarily acknowledges and consents to the collection, use, processing and transfer of personal data as described in this paragraph. Grantee
is not obliged to consent to such collection, use, processing and transfer of personal data. However, failure to provide the consent may affect Grantee’s ability to participate in the Omnibus Plan. Motorola Solutions, its Subsidiaries and
Grantee’s employer hold certain personal information about Grantee, that may include his/her name, home address and telephone number, date of birth, social security number or other employee identification number, salary grade, hire date,
salary, nationality, job title, any shares of stock held in Motorola Solutions, or details of all MSUs or any other entitlement to shares of stock awarded, canceled, purchased, vested, or unvested, for the purpose of managing and administering the
Omnibus Plan (“Data”). Motorola Solutions and/or its Subsidiaries will transfer Data amongst themselves as necessary for the purpose of implementation, administration and management of Grantee’s participation in the Omnibus Plan, and
Motorola Solutions and/or any of its Subsidiaries may each further transfer Data to any third parties assisting Motorola Solutions in the implementation, administration and management of the Omnibus Plan. These recipients may be located throughout
the world, including the United States. Grantee authorizes them to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing Grantee’s participation in the
Omnibus Plan, including any requisite transfer of such Data as may be required for the administration of the Omnibus Plan and/or the subsequent holding of shares of stock on Grantee’s behalf to a broker or other third party with whom Grantee
may elect to deposit any shares of stock acquired pursuant to the Omnibus Plan. Grantee may, at any time, review Data, require any necessary amendments to it or withdraw the consents herein in writing by contacting Motorola; however, withdrawing
consent may affect Grantee’s ability to participate in the Omnibus Plan. 

	10.	Nature of Award. By accepting this Agreement, the Grantee acknowledges his or her understanding that the grant of MSUs under this Agreement is completely at the discretion of Motorola Solutions, and that Motorola
Solutions’ decision to make this Award in no way implies that similar awards may be granted in the future or that Grantee has any guarantee of future employment. Nor shall this or any such grant interfere with Grantee’s right or the
Company’s right to terminate such employment relationship at any time, with or without cause, to the extent permitted by applicable laws and any enforceable agreement between Grantee and the Company. Grantee’s acceptance of this Award is
voluntary. The Award is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension, or retirement benefits or similar payments,
notwithstanding any provision of any compensation, insurance agreement or benefit plan to the contrary. 

  

	11.	Remedies for Breach. Grantee hereby acknowledges that the harm caused to the Company by the breach or anticipated breach of the Restrictive Covenants will be irreparable and further agrees the Company may obtain
injunctive relief against the Grantee in addition to and cumulative with any other legal or equitable rights and remedies the Company may have pursuant to this Agreement, any other agreements between the Grantee and the Company for the protection of
the Company’s Confidential Information (as defined in the Employment Agreement), or law, including the recovery of liquidated damages. Grantee agrees that any interim or final equitable relief entered by a court of competent jurisdiction, as
specified in paragraph 14 below, will, at the request of the Company, be entered on consent and enforced by any such court having jurisdiction over the Grantee. This relief would occur without prejudice to any rights either party may have to
appeal from the proceedings that resulted in any grant of such relief. 

  

	12.	Acknowledgements. With respect to the MSUs, this Agreement (and any provisions of the Employment Agreement incorporated into this Agreement) is the entire agreement with the Company. No waiver of any breach of
any provision of this Agreement by the Company shall be construed to be a waiver of any succeeding breach or as a modification of such provision. The provisions of this Agreement shall be severable and in the event that any provision of this
Agreement shall be found by any court as specified in paragraph 14 below to be unenforceable, in whole or in part, the remainder of this Agreement shall nevertheless be enforceable and binding on the parties. Grantee hereby agrees that the
court may modify any invalid, overbroad or unenforceable term of this Agreement so that such term, as modified, is valid and enforceable under applicable law. Further, by accepting any Award under this Agreement, Grantee affirmatively states that he
has not, will not and cannot rely on any representations not expressly made herein. 

  

	13.	Funding. No assets or shares of Common Stock shall be segregated or earmarked by the Company in respect of any MSUs awarded hereunder. The grant of MSUs hereunder shall not constitute a trust and shall be solely
for the purpose of recording an unsecured contractual obligation of the Company. 

  

	14.	Governing Law. All questions concerning the construction, validity and interpretation of this Award shall be governed by and construed according to the law of the State of Illinois without regard to any
state’s conflicts of law principles. Any disputes regarding this Award or Agreement shall be brought only in the state or federal courts of Illinois. 

  

	15.	Waiver. The failure of the Company to enforce at any time any provision of this Award shall in no way be construed to be a waiver of such provision or any other provision hereof. 

	16.	Actions by the Compensation Committee. The Committee may delegate its authority to administer this Agreement. The actions and determinations of the Compensation Committee or delegate shall be binding upon the
parties. 

  

	17.	409A Compliance. Notwithstanding any provision in this Award to the contrary, if the Grantee is a “specified employee” (certain officers of Motorola Solutions within the meaning of Treasury Regulation
Section 1.409A-1(i) and using the identification methodology selected by Motorola Solutions from time to time) on the date of the Grantee’s termination of employment, any payment which would be considered “nonqualified deferred
compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), that the Grantee is entitled to receive upon termination of employment and which otherwise would be paid or delivered
during the six month period immediately following the date of the Grantee’s termination of employment will instead be paid or delivered on the earlier of (i) the first day of the seventh month following the date of the Grantee’s
termination of employment and (ii) death. Notwithstanding any provision in this Award that requires the Company to pay or deliver payments with respect to MSUs upon vesting (or within 60 days following the date that the applicable MSUs vest) if
the event that causes the applicable MSUs to vest is not a permissible payment event as defined in Section 409A(a)(2) of the Code, then the payment with respect to such MSUs will instead be paid or delivered on the earlier of (i) the
specified date of payment or delivery originally provided for such MSUs and (ii) the date of the Grantee’s termination of employment (subject to any delay required by the first sentence of this paragraph). Payment shall be made within 60
days following the applicable payment date. For purposes of determining the time of payment or delivery of any payment the Grantee is entitled to receive upon termination of employment, the determination of whether the Grantee has experienced a
termination of employment will be determined by Motorola Solutions in a manner consistent with the definition of “separation from service” under the default rules of Section 409A of the Code. 

 

	18.	Omnibus Plan Documents. The Omnibus Plan and the Prospectus for the Omnibus Plan are available at
http://                                        
or from Global Rewards, 1303 East Algonquin Road, Schaumburg, IL 60196, (847) 576-7885. 

  

	19.	Subsidiary Definition. For purposes of this Agreement, a “Subsidiary” is any corporation or other entity in which a 50 percent or greater interest is held directly or indirectly by Motorola Solutions
and which is consolidated for financial reporting purposes. 

  

	20.	Miscellaneous. The MSUs shall be subject to Section 5 of the Employment Agreement. 

  

							
	  
				  
		
	Date				Signature		
				
	  
				 Gregory Q. Brown
		
	Commerce ID				Printed Name		

 IN ORDER FOR THE ABOVE-REFERENCED UNITS TO BE AWARDED, THIS AGREEMENT, SIGNED AND DATED, MUST BE RETURNED TO MOTOROLA
SOLUTIONS c/o EXECUTIVE REWARDS NO LATER THAN             .EX-10.1

 Exhibit 10.1 

ANALOGIC CORPORATION 

1997 NON-QUALIFIED STOCK OPTION PLAN 

FOR NON-EMPLOYEE DIRECTORS 

DATED JANUARY 31, 1997, 

AS AMENDED DECEMBER 8, 2003, SEPTEMBER 20, 2006, AND MARCH 4, 2015 

 

	1.	Purpose 

 The purpose of this 1997 Non-Qualified Stock Option Plan for Non-Employee
Directors is to attract and retain the services of experienced and knowledgeable independent directors of the Corporation for the benefit of the corporation and its stockholders and to provide additional incentives for such independent directors to
continue to work for the best interests of the Corporation and its stockholders through continuing ownership of its common stock. 
  

	2.	Definitions 

 As used herein, each of the following terms has the indicated meaning:

 “Corporation” means Analogic Corporation. 

“Fair Market Value” means high and low sale price quoted on the NASDAQ or such other national securities exchange on which the
shares may be traded on the date of the granting of the Option. 
 “Option” means the contractual right to purchase shares upon
the specific terms set forth in this Plan. 
 “Option Exercise Period” means the period commencing one (1) year after the
date of grant of an Option pursuant to this Plan and ending ten (10) years from the date of grant. 
 “Plan” means this
Analogic Corporation 1997 Non-Qualified Stock Option Plan for Non-Employee Directors. 
 “Shares” means the Common Stock, $.05 par
value, of the Corporation. 
 “Subsidiary” means any corporation in an unbroken chain of corporations beginning with the
Corporation if, at the time of grant of the Option, each of the corporations other than the last in the unbroken chain owns stock representing fifty (50%) percent or more of the total combined voting power of all classes of stock in one of the
other corporations in such chain. 

	3.	Stock Subject to the Plan 

 The aggregate number of Shares that may be issued and sold
under the Plan shall be 150,000 shares. The Shares to be issued upon exercise of Options granted under this Plan shall be made available, at the discretion of the Board of Directors, from (i) treasury shares and Shares reacquired by the
Corporation for such purposes, including Shares purchased in the open market, (ii) authorized but unissued Shares, and (iii) Shares previously reserved for issuance upon exercise of Options which have expired or been terminated. If any
Option granted under this Plan shall expire or terminate for any reason without having been exercised in full, the unpurchased Shares covered thereby shall become available for grant under additional Options under the Plan so long as it shall remain
in effect. 
  

	4.	Administration of the Plan 

 The Plan shall be administered by the Board of Directors of
the Corporation (the “Board”). The Board shall, subject to the provisions of the Plan, grant options under the Plan and shall have the power to construe the Plan, to determine all questions as to eligibility, and to adopt and amend such
rules and regulations for the administration of the Plan as it may deem desirable. 
  

	5.	Eligibility; Grant of Option 

 Options will be granted only to directors of the
Corporation or of a Subsidiary who are not otherwise employees of the Corporation or any Subsidiary (“Non-Employee Directors”). Each new Non-Employee Director who is elected to the Board shall be granted an option to acquire 5,000 Shares,
effective as of the date he or she is first elected to the Board. Every four (4) years from the date on which a Non-Employee Director was last granted a Non-Employee Director option under this Plan, that Non-Employee Director shall be granted
an option to acquire 5,000 Shares, effective as of the date of that fourth anniversary. 
  

	6.	Terms of Options and Limitations Thereon 

 (a) Option Agreement. Each Option
granted under this Plan shall be evidenced by an Option agreement between the Corporation and the Option holder and shall be upon such terms and conditions not inconsistent with this Plan, as the Board may determine. 

(b) Price. The price at which any Shares may be purchased pursuant to the exercise of an Option shall be the Fair Market Value of the
Shares on the date of grant, but in no event shall the price be less than the par value of the Shares. 
 (c) Exercise of Option.
Subject to Paragraphs 4 and 7 of this Plan, each Option granted under this Plan may be exercised in full at one time or in part from time to time only during the Option Exercise Period by the giving of written notice, signed by the

 
person or persons exercising the Option, to the Corporation stating the numbers of Shares with respect to which the option is being exercised, accompanied by full payment for such Shares pursuant
to Section 7(b) hereof; provided however, if a person to whom an Option has been granted retires or dies during the Option Exercise Period, such Option shall be exercisable by him or her or by the executors, administrators, legatees or
distributees of his or her estate during the (i) twelve (12) months following his or her retirement or death; and, (ii) if a person to whom an Option has been granted ceases to be a Non-Employee Director of the Corporation for any
cause other than retirement or death, such Option shall be exercisable during the seven month period following the date such person ceased to be a Non-Employee Director, but, in any event, only to the extent vested pursuant to Section 7(a)
hereof. 
 (d) Non-Assignability. No Option or right or interest in an Option shall be assignable or transferable by the holder,
except by will or the laws of descent and distribution and during the lifetime of the holder, shall be exercisable only by him or her. 
  

	7.	Vesting; Payment 

 (a) Subject to Paragraphs 4 and 6 of this Plan, Options granted under
this Plan may be exercised during the Option Exercise Period with respect to the following indicated percentage of the total number of shares of Stock subject to the Option at the expiration of the following indicated periods from the date of grant
of the Option: 33 1/3% of the number of Shares subject to the Option one (1) or more years after the date of grant; 66 2/3% of the number of Shares subject to the Option two (2) or more years after the date of grant; and 100% of the Shares
of Stock subject to the Option three (3) or more years after the date of grant. However, if one of the events referred to in clauses (i) and (ii) of Paragraph 6(c) occurs, the Option shall be exercisable during the specified period
following said retirement or death only as to the number of Shares as to which it was exercisable immediately prior to said retirement or death. 

(b) The purchase price of Shares upon exercise of an Option shall be paid by the Option holder in full upon exercise and may be paid
(i) in cash or check, (ii) by delivery of Shares, (iii) through a cashless exercise program in conjunction with a securities brokerage firm, (iv) to the extent permitted by applicable law and provided for in the applicable Option
agreement or approved by the Board, in its sole discretion, by payment of such other lawful consideration as the Board may determine, or (v) any combination of the foregoing. 

(c) No Shares shall be issued or transferred upon exercise of any Option under this Plan unless and until all legal requirements applicable to
the issuance or transfer of such shares and such other requirements as are consistent with the Plan have been complied with to the satisfaction of the Board, including without limitation those requirements described in Paragraph 10 hereof. 

 

	8.	Stock Adjustments 

 (a) If the Corporation is a party to any merger or consolidation, any purchase or acquisition of
property or stock, or any separation, reorganization or liquidation, the Board of Directors (or, if the Corporation is not the surviving corporation, the Board of Directors of the surviving corporation) shall have the power to make arrangements,
which shall be binding upon the holders of unexpired Options, for the substitution of new options for, or the assumption by another corporation of, any unexpired options then outstanding hereunder. 

(b) If by reason of recapitalization, reclassification, stock split-up, combination of shares, separation (including a spin-off) or dividend
on the stock payable in Shares, the outstanding Shares of the Corporation are increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Corporation, the Board of Directors shall
conclusively determine the equitable adjustment in the exercise prices of outstanding Options and in the number and kind of shares as to which outstanding Options shall be exercisable. 

(c) In the event of a transaction of the type described in Paragraphs (a) and (b) above, the total number of Shares on which Options
may be granted under this Plan shall be equitably adjusted by the Board of Directors. 
  

	9.	No Rights Other Than Those Expressly Created 

 Other than Non-Employee Directors, no
person affiliated with the Corporation or any Subsidiary or any other person shall have any claim or right to be granted an Option hereunder. Neither this Plan nor any action taken hereunder shall be construed as (i) giving any Option holder
any right to continue to be affiliated with Corporation, (ii) giving any Option holder any equity or interest of any kind in any assets of the Corporation, or (iii) creating a trust of any kind or a fiduciary relationship of any kind
between the Corporation and any such person. No Option holder shall have any of the rights of a stockholder with respect to Shares covered by an Option until such time as the Option has been exercised and Shares have been issued to such person. 

 

	10.	Miscellaneous 

 (a) Withholding of Taxes. Pursuant to applicable federal, state,
local or foreign laws, the Corporation may be required to collect income or other taxes upon the grant of an Option to, or exercise of an Option by, a holder. The Corporation may require, as a condition to the exercise of an Option, that the
recipient pay the Corporation, at such time as the Board determines, the amount of any taxes which the Board may determine is required to be withheld. 

(b) Securities Law Compliance. Upon exercise of an Option, the holder shall be required to make such representation and furnish such
information as may, in the opinion of counsel for the Corporation, be appropriate to permit the Corporation to issue or transfer the Shares in compliance with the provisions of applicable federal or state securities laws. The Corporation, in its
discretion, may postpone the issuance and 

 
delivery of Shares upon any exercise of an Option until completion of such registration or other qualification of such Shares under any federal or state laws, or stock exchange listing, as the
Corporation may consider appropriate. The Corporation is not obligated to register or qualify the Shares under federal or state securities laws and may refuse to issue such Shares if neither registration nor exemption therefrom is practical. The
Board may require that prior to the issuance or transfer of any Shares upon exercise of an Option, the recipient enter into a written agreement to comply with any restriction on subsequent disposition that the Board or the Corporation deems
necessary or advisable under any applicable federal and state securities laws. Certificates representing the Shares issued hereunder may be legended to reflect such restrictions. 

(c) Indemnity. The Board of Directors shall not be liable for any act, omission, interpretation, construction or determination made in
good faith in connection with their responsibilities with respect to the Plan, and the Corporation hereby agrees to indemnify the members of the Board of Directors, in respect of any claim, loss, damage, or expense (including counsel fees) arising
from any such act, omission, interpretation, construction or determination to the fullest extent permitted by law. 
  

	12.	Effective Date; Amendment; Termination 

 (a) The “Effective Date” of this Plan
was January 24, 1997. The effective date of the Plan, as amended on December 8, 2003, shall be the date on which the amendments hereto are approved by stockholders of the Corporation holding at least a majority of the voting stock of the
Corporation. 
 (b) The date of grant of any Option granted hereunder shall be as set forth in Paragraph 5 of this Plan. 

(c) Except as otherwise provided below, the Board of Directors of the Corporation may at any time, and from time to time, amend, suspend or
terminate this Plan in whole or in part. However, except as provided herein, no amendment, suspension or termination of this Plan may affect the rights of any person to whom an Option has been granted without such person’s consent. Paragraphs
5, 6(a), and 6(b) of this Plan may not be amended more than once every six (6) months, other than to comply with changes in the Internal Revenue Code. 

(d) This Plan shall terminate twenty (20) years from the Effective Date, and no Option shall be granted under this Plan thereafter, but
such termination shall not affect the validity of Options granted prior to the date of termination. 
 Date of Board of Director Adoption: June 12,
1996 
 Date of Board of Director Adoption of Amendment: December 8, 2003 

Date of Board of Director Adoption of Amendment: September 20, 2006 

Date of Board of Director Adoption of Amendment: March 4, 2015

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