Document:

EX-10.9

 EXHIBIT 10.9 

Form of 
 MGM Growth
Properties Operating Partnership LP 
 Nonqualified Deferred Compensation Plan 

Master Plan Document 

Effective [●], 2016 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 Purpose
	  	 	1	  
			
	 ARTICLE 1
	  	 DEFINITIONS
	  	 	1	  
			
	 ARTICLE 2
	  	 SELECTION, ENROLLMENT, ELIGIBILITY
	  	 	5	  
	 2.1
	  	 Selection by Committee
	  	 	5	  
	 2.2
	  	 Enrollment Requirements
	  	 	5	  
	 2.3
	  	 Eligibility; Commencement of Participation
	  	 	6	  
	 2.4
	  	 Termination of Participation and/or Deferrals
	  	 	6	  
			
	 ARTICLE 3
	  	 DEFERRAL COMMITMENTS/CREDITING/TAXES
	  	 	6	  
	 3.1
	  	 Minimum Deferrals
	  	 	6	  
	 3.2
	  	 Maximum Deferrals
	  	 	7	  
	 3.3
	  	 Election to Defer; Effect of Election Form
	  	 	7	  
	 3.4
	  	 Withholding of Annual Deferral Amounts
	  	 	7	  
	 3.5
	  	 Vesting
	  	 	7	  
	 3.6
	  	 Crediting/Debiting of Account Balances
	  	 	8	  
	 3.7
	  	 FICA and Other Taxes
	  	 	9	  
			
	 ARTICLE 4
	  	SHORT-TERM PAYOUT; UNFORESEEABLE FINANCIAL EMERGENCIES; WITHDRAWAL ELECTIONS; SMALL SUM CASHOUTS	  	 	9	  
	 4.1
	  	 Short-Term Payout
	  	 	9	  
	 4.2
	  	 Other Benefits Take Precedence Over Short-Term
	  	 	10	  
	 4.3
	  	 Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies
	  	 	10	  
	 4.4
	  	 Small Sum Cashouts
	  	 	10	  
			
	 ARTICLE 5
	  	 RETIREMENT BENEFIT
	  	 	11	  
	 5.1
	  	 Retirement Benefit
	  	 	11	  
	 5.2
	  	 Payment of Retirement Benefit
	  	 	11	  
	 5.3
	  	 Death Prior to Completion of Retirement Benefit
	  	 	11	  
			
	 ARTICLE 6
	  	 PRE-RETIREMENT SURVIVOR BENEFIT
	  	 	11	  
	 6.1
	  	 Pre-Retirement Survivor Benefit
	  	 	11	  
	 6.2
	  	 Payment of Pre-Retirement Survivor Benefit
	  	 	11	  
			
	 ARTICLE 7
	  	 TERMINATION BENEFIT
	  	 	12	  
	 7.1
	  	 Termination Benefit
	  	 	12	  
	 7.2
	  	 Payment of Termination Benefit
	  	 	12	  
	 7.3
	  	 Death Prior to Completion of Termination Benefit
	  	 	12	  
			
	 ARTICLE 8
	  	 DISABILITY BENEFIT
	  	 	13	  
	 8.1
	  	 Disability Benefit
	  	 	13	  
			
	 ARTICLE 9
	  	 BENEFICIARY DESIGNATION
	  	 	13	  
	 9.1
	  	 Beneficiary
	  	 	13	  
	 9.2
	  	 Beneficiary Designation; Change; Spousal Consent
	  	 	13	  
	 9.3
	  	 Acknowledgment
	  	 	13	  
	 9.4
	  	 No Beneficiary Designation
	  	 	13	  

  
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	 	  	 	  	Page	 
	 9.5
	  	 Doubt as to Beneficiary
	  	 	14	  
	 9.6
	  	 Discharge of Obligations
	  	 	14	  
			
	 ARTICLE 10
	  	 LEAVE OF ABSENCE
	  	 	14	  
	 10.1
	  	 Leaves of Absence
	  	 	14	  
			
	 ARTICLE 11
	  	 TERMINATION, AMENDMENT OR MODIFICATION
	  	 	14	  
	 11.1
	  	 Termination
	  	 	14	  
	 11.2
	  	 Amendment
	  	 	14	  
	 11.3
	  	 Plan Agreement
	  	 	15	  
	 11.4
	  	 Effect of Payment; Non-Discretionary Cashout
	  	 	15	  
			
	 ARTICLE 12
	  	 ADMINISTRATION
	  	 	15	  
	 12.1
	  	 Committee Duties
	  	 	15	  
	 12.2
	  	 Agents
	  	 	15	  
	 12.3
	  	 Binding Effect of Decisions
	  	 	15	  
	 12.4
	  	 Indemnity of Committee
	  	 	16	  
	 12.5
	  	 Employer Information
	  	 	16	  
			
	 ARTICLE 13
	  	 OTHER BENEFITS AND AGREEMENTS
	  	 	16	  
	 13.1
	  	 Coordination with Other Benefits
	  	 	16	  
			
	 ARTICLE 14
	  	 CLAIMS PROCEDURES
	  	 	16	  
	 14.1
	  	 Presentation of Claim
	  	 	16	  
	 14.2
	  	 Notification of Decision
	  	 	16	  
	 14.3
	  	 Review of a Denied Claim
	  	 	17	  
	 14.4
	  	 Decision on Review
	  	 	17	  
	 14.5
	  	 Legal Action
	  	 	17	  
			
	 ARTICLE 15
	  	 TRUST
	  	 	17	  
	 15.1
	  	 Establishment of the Trust
	  	 	17	  
	 15.2
	  	 Interrelationship of the Plan and the Trust
	  	 	18	  
	 15.3
	  	 Distributions from the Trust
	  	 	18	  
	 15.4
	  	 Investment of Trust Assets
	  	 	18	  
	 15.5
	  	 No Claim on Trust Assets
	  	 	18	  
			
	 ARTICLE 16
	  	 MISCELLANEOUS
	  	 	18	  
	 16.1
	  	 Status of Plan
	  	 	18	  
	 16.2
	  	 Unsecured General Creditor
	  	 	19	  
	 16.3
	  	 Employer’s Liability
	  	 	19	  
	 16.4
	  	 Nonassignability
	  	 	19	  
	 16.5
	  	 Not a Contract of Employment
	  	 	19	  
	 16.6
	  	 Furnishing Information
	  	 	19	  
	 16.7
	  	 Terms
	  	 	19	  
	 16.8
	  	 Captions
	  	 	20	  
	 16.9
	  	 Governing Law
	  	 	20	  
	 16.10
	  	 Notice
	  	 	20	  
	 16.11
	  	 Successors
	  	 	20	  
	 16.12
	  	 Spouse’s Interest
	  	 	20	  
	 16.13
	  	 Validity
	  	 	20	  

  
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	 	  	 	  	Page	 
	 16.14
	  	 Incompetent
	  	 	20	  
	 16.15
	  	 Court Order
	  	 	21	  
	 16.16
	  	 Distribution in the Event of Taxation
	  	 	21	  
	 16.17
	  	 Legal Fees To Enforce Rights After Change in Control
	  	 	21	  

  
 iii 

 MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP 

NONQUALIFIED DEFERRED COMPENSATION PLAN 

Effective [●], 2016 

Purpose 
 The
purpose of this Plan is to provide specified benefits to a select group of management and highly compensated Employees who contribute materially to the continued growth, development and future business success of MGM Growth Properties Operating
Partnership LP, a Delaware limited partnership, and its subsidiaries that sponsor this Plan. This Plan shall be unfunded for tax purposes and for purposes of Title I of ERISA. 

ARTICLE 1  

Definitions 
 For
purposes of this Plan, unless otherwise clearly apparent from the context, the following phrases or terms shall have the following indicated meanings: 

“Account Balance” shall mean, with respect to a Participant, a credit on the records of the Employer equal to the Deferral
Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or the Participant’s designated Beneficiary,
pursuant to this Plan. 
 “Annual Deferral Amount” shall mean that portion of a Participant’s Base Annual Salary and
Bonus that a Participant elects to have, and is, deferred in accordance with Article 3, for any one Plan Year. In the event of a Participant’s Retirement, Disability, death or a Termination of Employment prior to the end of a Plan Year, such
year’s Annual Deferral Amount shall be the actual amount withheld prior to such event. 
 “Base Annual Salary” shall
mean the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime,
fringe benefits, equity or equity-based incentives, relocation expenses, incentive payments, non-monetary awards and other fees and automobile and other allowances paid to a Participant for employment services rendered (whether or not such
allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any
Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such
amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee. 

“Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated in accordance with Article 9,
that are entitled to receive benefits under this Plan upon the death of a Participant or the death of a predecessor Beneficiary receiving benefits under the Plan. 

  
 1 

 “Beneficiary Designation Form” shall mean the form established from time to time
by the Committee that a Participant completes, signs and returns to the Committee to designate one or more Beneficiaries. 

“Board” shall mean the board of managers of MGM Growth Properties OP GP LLC, a Delaware limited liability company, which is
the general partner of the Company. 
 “Bonus” shall mean any cash compensation, other than Base Salary, earned by a
Participant for services rendered during a Plan Year, under any Employer’s bonus, commission or other cash incentive arrangements (whether written or oral). 

“Change of Control” shall mean, with respect to (x) MGP or (y) provided that it controls, is controlled by or is
under common control with MGP at the relevant time, MGM (each of (x) and (y), a “Referenced Entity”), the first to occur of: 

(1) the date that a reorganization, merger, consolidation, recapitalization, or similar transaction (other than a spinoff, exchange offer or
similar transaction to or with the applicable Referenced Entity’s public shareholders) is consummated, unless: (i) at least 50% of the outstanding voting securities of the surviving or resulting entity (including, without limitation, an
entity which as a result of such transaction owns MGP either directly or through one or more subsidiaries) (“Resulting Entity”) are beneficially owned, directly or indirectly, by the persons who were the beneficial owners of the
outstanding voting securities of the Corporation immediately prior to such transaction in substantially the same proportions as their beneficial ownership, immediately prior to such transaction, of the outstanding voting securities of the
Corporation and (ii) immediately following such transaction no person or persons acting as a group beneficially owns capital stock of the Resulting Entity possessing thirty-five percent (35%) or more of the total voting power of the stock
of the Resulting Entity; 
 (2) the date that a majority of members of the Referenced Entity’s Board is replaced during any twelve
(12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Referenced Entity’s Board before the date of the appointment or election; provided that no individual shall be considered to
be so endorsed if such individual initially assumed office as a result of either an actual or threatened “Election Contest” (as described in Rule 14a-11 promulgated under the Securities Exchange Act of 1934) or other actual or threatened
solicitation of proxies or consents by or on behalf of a Person other than the Referenced Entity’s Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest; 

(3) the date that any one person, or persons acting as a group, acquires (or has or have acquired as of the date of the most recent
acquisition by such person or persons) beneficial ownership of stock of the Referenced Entity possessing thirty-five percent (35%) or more of the total voting power of the stock of the Referenced Entity; or 

(4) the date that any one person acquires, or persons acting as a group acquire (or has or have acquired as of the date of the most recent
acquisition by such person or persons), assets from the Referenced Entity that have a total gross fair market value equal to or more than forty percent (40%) of the total gross fair market value of all of the assets of the Referenced Entity
immediately before such acquisition or acquisitions. 

  
 2 

 For the avoidance of doubt, there can only be one Change of Control for purposes of the Plan.

 “Claimant” shall have the meaning set forth in Section 14.1. 

“Code” shall mean the Internal Revenue Code of 1986, as it may be amended from time to time. 

“Committee” shall mean the committee described in Article 12. 

“Company” shall mean MGM Growth Properties Operating Partnership LP, a Delaware limited partnership, and any successor to all
or substantially all of the Company’s assets or business. 
 “Deferral Account” shall mean (a) the sum
(i) the aggregate amount of all of a Participant’s Annual Deferral Amounts and (ii) amounts credited or debited in accordance with all applicable crediting provisions of this Plan that relate to the Participant’s Deferral Account
less (b) all distributions made to the Participant or the Participant’s Beneficiary pursuant to this Plan that relate to the Participant’s Deferral Account. 

“Disability” shall mean that a Participant (a) 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, as certified by a licensed physician, or (b) is receiving income
replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Participant’s Employer 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, as certified by a licensed physician in each case. 

“Disability Benefit” shall mean the benefit set forth in Article 8. 

“Election Form” shall mean the form established from time to time by the Committee that a Participant completes, signs and
returns to the Committee to make an election under the Plan. 
 “Employee” shall mean a person who is an employee of any
Employer. 
 “Employer(s)” shall mean the Company and/or any of its subsidiaries (now in existence or hereafter formed or
acquired) that have been selected by the Board to participate in the Plan and have adopted the Plan as a sponsor. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as it may be amended from time to time. 

“MGM” shall mean MGM Resorts International, a Delaware corporation. 

  
 3 

 “MGP” shall mean MGM Growth Properties LLC, a Delaware limited liability
company. 
 “Participant” shall mean any Employee (a) who is selected to participate in the Plan, (b) who elects
to participate in the Plan, (c) who signs a Plan Agreement, an Election Form and a Beneficiary Designation Form, (d) whose signed Plan Agreement, Election Form and Beneficiary Designation Form are accepted by the Committee, (e) who
commences participation in the Plan, and (f) whose Plan Agreement has not terminated. A spouse or former spouse of a Participant, as such, shall not be treated as a Participant in the Plan or have an account balance under the Plan, even if the
Participant has an interest in the Participant’s benefits under the Plan in accordance with Article 5 or 6 of the Plan, or as a result of applicable law or property settlements resulting from legal separation or divorce. 

“Plan” shall mean the MGM Growth Properties Operating Partnership LP Nonqualified Deferred Compensation Plan, which shall be
evidenced by this instrument and by each Plan Agreement, as they may be amended from time to time. 
 “Plan Agreement”
shall mean a written agreement, as may be amended from time to time, which is entered into by and between an Employer and a Participant. Each Plan Agreement executed by a Participant and the Participant’s Employer shall provide for the entire
benefit to which such Participant is entitled under the Plan; should there be more than one Plan Agreement, the Plan Agreement bearing the latest date of acceptance by the Employer shall supersede all previous Plan Agreements in their entirety and
shall govern such entitlement. The terms of any Plan Agreement may be different for any Participant, and any Plan Agreement may provide additional benefits not set forth in the Plan or limit the benefits otherwise provided under the Plan; provided,
however, that any such additional benefits or benefit limitations must be agreed to by both the Employer and the Participant. 

“Plan Year” shall mean (a) the short year commencing [●], 2016, and continuing through December 31, 2016, and
(b) January 1 of each calendar year beginning on or after January 1, 2017, and continuing through December 31 of such calendar year, while the Plan is in effect. 

“Pre-Retirement Survivor Benefit” shall mean the benefit set forth in Article 6. 

“Quarterly Installment Method” shall mean quarterly installment payments over the number of quarters selected by the
Participant in accordance with this Plan, calculated as follows: the Account Balance of the Participant shall be calculated as of the close of business on the last business day of the calendar quarter in which the Participant becomes entitled to a
quarterly installment payment under this Plan. The quarterly installment shall be calculated by multiplying this balance by a fraction, the numerator of which is one, and the denominator of which is the remaining number of quarterly payments due the
Participant. By way of example, if the Participant elects 40 quarters, the first payment shall be 1/40 of the Account Balance, calculated as described in this definition. For the following calendar quarter, the payment shall be 1/39 of the Account
Balance, calculated as described in this definition. Continuing Payments pursuant to the Quarterly Installment Method shall be made no later than 60 days following the last business day of the applicable calendar quarter for which the installment
payment is made. 

  
 4 

 “Retirement”, “Retire(s)” or “Retired” shall
mean separation from service (as defined in accordance with Code Section 409A and the regulations issued thereunder) from all Employers for any reason other than an authorized leave of absence, death or Disability on or after the earlier of the
attainment of (a) age sixty-five (65) or (b) age fifty-five (55) with ten (10) Years of Service. 

“Retirement Benefit” shall mean the benefit set forth in Article 5. 

“Short-Term Payout” shall mean the payout set forth in Section 4.1. 

“Termination Benefit” shall mean the benefit set forth in Article 7. 

“Termination of Employment” shall mean separation from service (as defined in accordance with Code Section 409A and the
regulations issued thereunder) from all Employers, voluntarily or involuntarily, for any reason other than Retirement, Disability or death. 

“Trust” shall mean one or more trusts established in accordance with Section 15.1. 

“Unforeseeable Financial Emergency” shall mean severe financial hardship to a Participant resulting from an illness or
accident of the Participant, the Participant’s spouse, or a dependent (as defined in Section 152(a) of the Code) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable
circumstances arising as a result of events beyond the control of the Participant, as determined in the sole discretion of the Committee consistent with Code Section 409A. 

“Years of Service” shall mean the total number of full years of employment in which a Participant has been employed by one or
more Employers. For purposes of this definition, a year of employment shall be a 365-day period (or 366-day period in the case of a leap year) that, for the first year of employment, commences on the Employee’s date of hiring and that, for any
subsequent year, commences on an anniversary of that hiring date. Any partial year of employment shall not be counted. 
 ARTICLE 2 

 Selection, Enrollment, Eligibility 

2.1 Selection by Committee. Participation in the Plan shall be limited to a select group of management and highly compensated Employees,
as determined by the Committee in its sole discretion. From that group, the Committee shall select, in its sole discretion, Employees to participate in the Plan, who upon selection become eligible to participate in the Plan. Notwithstanding the
foregoing, an Employee cannot be selected to be a participant in the Plan until the Employee has been employed with an Employer for at least 90 days. 

2.2 Enrollment Requirements. As a condition to participation, each selected Employee shall complete, execute and return to the
Committee, in a manner determined by the Committee, a Plan Agreement, an Election Form and a Beneficiary Designation Form, all by October 1st of the Plan Year in which the Employee becomes
eligible to participate in the Plan. If an Employee is selected to participate in the Plan after October 1st of a given Plan Year, the 

  
 5 

 
Employee shall complete the required enrollment materials by October 1st of the Plan Year following the Plan Year in which the Employee
becomes eligible to participate in the Plan. Notwithstanding anything to the contrary in this Section 2.2, each Employee selected to participate in the short 2016 Plan Year shall complete, execute and return the required enrollment materials
within 30 days following the effective date of this Plan (or, if later, within 30 days following the date the Employee first becomes eligible to participate in this Plan), and any elections shall be made with respect to Base Annual Salary and/or
Bonus earned following the date the elections contained within the enrollment materials become effective. In addition, the Committee shall establish from time to time such other enrollment requirements as it determines in its sole discretion are
necessary. 
 2.3 Eligibility; Commencement of Participation. Subject to the next sentence, an Employee selected to participate in
the Plan in accordance with Section 2.1 by October 1st of a given Plan Year shall commence participation in the Plan as of the first day of the Plan Year following the Plan Year in which
the Committee selects that Employee to participate in the Plan. However, if the Employee fails to return the required enrollment materials by October 1st of the Plan Year in which the
Employee was selected to participate in the Plan and thus fails to meet the requirements of Section 2.2, that Employee shall not be eligible to participate in the Plan until the subsequent Plan Year, subject to the delivery to and acceptance by
the Committee of the required documents by October 1st of the Plan Year following the Plan Year in which the Employee was selected to participate in the Plan. An Employee selected to
participate in the Plan in accordance with Section 2.1 after October 1st of a given Plan Year shall not be eligible to commence participation in the Plan as of the first day of the Plan
Year following selection but instead will become eligible to participate in the Plan in the following Plan Year, subject to the Employee meeting the applicable requirements of Section 2.2. 

2.4 Termination of Participation and/or Deferrals. If the Committee determines in good faith that a Participant no longer qualifies as
a member of a select group of management or highly compensated employees, as membership in such group is determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, the Committee shall have the right, in its sole discretion, to
prevent the Participant from making future deferral elections. 
 ARTICLE 3  

Deferral Commitments/Crediting/Taxes 

3.1 Minimum Deferrals. For each Plan Year, a Participant may elect to defer, as the Participant’s Annual Deferral Amount in whole
percentages, Base Annual Salary and/or Bonus in the following minimum percentages for each deferral elected: 
  

					
	Deferral	  	Minimum Amount	 
	 Base Annual Salary
	  	 	3	% 
	 Bonus
	  	 	3	% 

 If an election is made for less than the stated minimum amounts, or if no election is made, the amount
deferred shall be zero. 

  
 6 

 3.2 Maximum Deferrals. For each Plan Year, a Participant may elect to defer, as the
Participant’s Annual Deferral Amount in whole percentages, Base Annual Salary and/or Bonus up to the following maximum percentages for each deferral elected: 
  

					
	Deferral	  	Maximum Amount	 
	 Base Annual Salary
	  	 	50	% 
	 Bonus
	  	 	75	% 

 Notwithstanding the foregoing, if a Participant first becomes a Participant after the first day of a Plan
Year, the maximum Annual Deferral Amount, with respect to Base Annual Salary and Bonus, shall be limited to the amount of such compensation earned by the Participant after the Participant commences participation in the Plan in accordance with
Section 2.3 above. 
 3.3 Election to Defer; Effect of Election Form. 

(a) First Plan Year. In connection with a Participant’s commencement of participation in the Plan, the Participant shall make an
irrevocable deferral election for the Plan Year in which the Participant commences participation in the Plan, along with such other elections as the Committee deems necessary or desirable under the Plan. For these elections to be valid, the Election
Form must be completed and signed by the Participant, timely delivered to the Committee (in accordance with Section 2.2) and accepted by the Committee. 

(b) Subsequent Plan Years. For each succeeding Plan Year, an irrevocable deferral election for that Plan Year, and such other elections
as the Committee deems necessary or desirable under the Plan, shall be made by timely delivering to the Committee, in accordance with its rules and procedures, before the end of the Plan Year preceding the Plan Year for which the election is made
(or such earlier time as the Committee may establish, in its sole discretion), a new Election Form. If no such Election Form is timely delivered for a Plan Year, the Annual Deferral Amount shall be zero for that Plan Year. 

(c) Performance-Based Compensation. Notwithstanding the foregoing, the Committee may, in its sole discretion, determine that an
irrevocable deferral election pertaining to performance-based compensation may be made by timely delivering a new Election Form to the Committee, in accordance with its rules and procedures, no later than six (6) months before the end of the
performance service period. “Performance-based compensation” shall be compensation based on services performed over a period of at least twelve (12) months, in accordance with Code Section 409A and related guidance. 

3.4 Withholding of Annual Deferral Amounts. For each Plan Year, the Base Annual Salary portion of the Annual Deferral Amount shall be
withheld from each regularly scheduled Base Annual Salary payroll in the percentage elected by the Participant. The Bonus portion of the Annual Deferral Amount shall be withheld at the time the Bonus is paid to the Participant. 

3.5 Vesting. A Participant shall at all times be 100% vested in the Participant’s Deferral Account. 

  
 7 

 3.6 Crediting/Debiting of Account Balances. In accordance with, and subject to, the rules
and procedures that are established from time to time by the Committee, in its sole discretion, amounts shall be credited or debited to a Participant’s Account Balance in accordance with the following rules: 

(a) Election of Measurement Funds. A Participant, in connection with the Participant’s initial deferral election in accordance with
Section 3.3(a), shall elect, on the Election Form, one or more Measurement Fund(s) (as described in Section 3.6(c)) to be used to determine the additional amounts to be credited or debited to the Participant’s Account Balance. A
Participant may (but is not required to) elect to add or delete one or more available Measurement Fund(s) to be used to determine the additional amounts to be credited or debited to the Participant’s Account Balance, or to change the portion of
the Participant’s Account Balance allocated to each previously or newly elected Measurement Fund. A Participant may elect to make such a change by submitting an Election Form, whether written or electronic (as determined by the Committee from
time to time and in its sole discretion), to the Committee. Any election so made and accepted by the Committee shall apply no later than the third business day following the Committee’s acceptance of the election. Any such election shall
continue to apply, unless subsequently changed in accordance with this Section 3.6(a). 
 (b) Proportionate Allocation. In
making any election described in Section 3.6(a), the Participant shall specify on the Election Form, in increments of one percentage point (1%), the percentage of the Participant’s Account Balance to be allocated to a Measurement Fund (as
if the Participant were making an investment in that Measurement Fund with that portion of the Participant’s Account Balance). 
 (c)
Measurement Funds. A Participant may elect one or more measurement funds (the “Measurement Funds”) from among those selected by the Committee for the purpose of crediting or debiting additional amounts to the
Participant’s Account Balance. As necessary, the Committee may, in its sole discretion, discontinue, substitute or add Measurement Funds. Each such action will take effect as of the first day of the calendar quarter that follows by thirty
(30) days or more the day on which the Committee gives Participants advance written notice of such change. In selecting the Measurement Funds that are available from time to time, neither the Committee nor any Employer shall be liable to any
Participant for such selection or adding, deleting or continuing any available Measurement Fund. 
 (d) Crediting or Debiting Method.
The performance of each elected Measurement Fund (either positive or negative) will be reasonably determined by the Committee. A Participant’s Account Balance shall be credited or debited on a daily basis based on the performance of each
Measurement Fund selected by the Participant. 
 (e) No Actual Investment. Notwithstanding any other provision of this Plan that may
be interpreted to the contrary, the Measurement Funds are to be used for measurement purposes only, and a Participant’s election of any such Measurement Fund, the allocation to the Participant’s Account Balance thereof, the calculation of
additional amounts and the crediting or debiting of such amounts to a Participant’s Account Balance shall not be considered or construed in any manner as an actual investment of the Participant’s Account Balance in any such
Measurement Fund. In the event that the Company or the Trustee (as that term is defined in 

  
 8 

 
the Trust), in its sole discretion, decides to invest funds in any or all of the Measurement Funds, no Participant shall have any rights in or to such investments themselves. Without limiting the
foregoing, a Participant’s Account Balance shall at all times be a bookkeeping entry only and shall not represent any investment made on the Participant’s behalf by the Company or the Trust; and the Participant shall at all times remain an
unsecured creditor of the Company. 
 (f) Employer Discretion. Notwithstanding the foregoing provisions of this Section 3.6, the
Committee shall retain the overriding discretion regarding the Participant’s designation of Measurement Funds under this Section 3.6. If a Participant fails to designate any Measurement Fund under this Section 3.6, the Participant
shall be deemed to have elected the money market fund, or such other fund as determined from time to time by the Committee in its sole discretion. 

(g) Selection Results. The Participant shall bear full responsibility for all results associated with the Participant’s selection
of Measurement Funds under this Section 3.6, and the Employers shall have no responsibility or liability with respect to the Participant’s selection of such Measurement Funds. 

3.7 FICA and Other Taxes. 

(a) Annual Deferral Amounts. For each Plan Year in which an Annual Deferral Amount is being withheld from a Participant, the
Participant’s Employer(s) shall withhold from that portion of the Participant’s Base Annual Salary and Bonus that is not being deferred, in a manner determined by the Employer(s), the Participant’s share of FICA and other employment
taxes on such Annual Deferral Amount. If necessary, the Committee may reduce the Annual Deferral Amount in order to comply with this Section 3.7. 

(b) Distributions. The Participant’s Employer(s), or the Trustee of the Trust, shall withhold from any payments made to a
Participant under this Plan all federal, state and local income, employment and other taxes required to be withheld by the Employer(s), or the Trustee of the Trust, in connection with such payments, in amounts and in a manner to be determined in
good faith in the sole discretion of the Employer(s) and the Trustee of the Trust. 
 ARTICLE 4  

Short-Term Payout; Unforeseeable Financial Emergencies; 

Withdrawal Elections; Small Sum Cashouts 

4.1 Short-Term Payout. 

(a) In connection with each election to defer an Annual Deferral Amount, a Participant may irrevocably elect to receive a future
“Short-Term Payout” from the Plan with respect to such Annual Deferral Amount. The Short-Term Payout shall be a lump sum payment in an amount that is equal to the Annual Deferral Amount plus amounts credited or debited in the manner
provided in Section 3.6 above on that amount, determined at the time that the Short-Term Payout becomes payable. Subject to the terms and conditions of this Plan, each Short-Term Payout elected shall be paid out during a 60 day period
commencing immediately after the last day of any Plan Year designated by the Participant that is at least five Plan Years after the Plan 

  
 9 

 
Year in which the Annual Deferral Amount is actually deferred. By way of example, if a five-year Short-Term Payout is elected for Annual Deferral Amounts that are deferred in the Plan Year
commencing January 1, 2017, the five-year Short-Term Payout would become payable during a 60 day period commencing January 1, 2023. 

(b) A Participant may make a one time election to postpone a Short-Term Payout described above, and have such amount paid out during a sixty
(60) day period commencing immediately after an allowable alternative distribution date designated by the Participant in accordance with the following rules. To make this one time election, the Participant must submit a new Election Form to the
Committee in accordance with the following criteria: (i) the Election Form is submitted at least 1 year prior to the schedule distribution date of the Short-Term Payout, (ii) the election cannot take effect until at least 12 months after
the date on which the election is made, (iii), the first payment with respect to which such election is made must be deferred for a period of 5 years from the date such payment would otherwise have been made, (iv) the election cannot accelerate
the payment of such benefit and (v) the election is accepted by the Committee in its sole discretion. 
 4.2 Other Benefits Take
Precedence Over Short-Term. Should an event occur that triggers a benefit under Article 5, 6, 7 or 8, any Annual Deferral Amount, plus amounts credited or debited thereon, that is subject to a Short-Term Payout election under Section 4.1
shall not be paid in accordance with Section 4.1 but shall be paid in accordance with the other applicable Article. Notwithstanding the foregoing, the Committee shall interpret this Section in a manner that is consistent with Code
Section 409A and the regulations thereunder, including without limitation guidance issued in connection with that Section. 
 4.3
Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies. If the Participant experiences an Unforeseeable Financial Emergency, the Participant may petition the Committee to (a) suspend any deferrals required to be made by a
Participant during the remaining portion of the Plan Year and/or (b) receive a partial or full payout from the Plan. The payout shall not exceed the lesser of the Participant’s Account Balance, calculated as if such Participant were
receiving a Termination Benefit, or the amount necessary to satisfy the Unforeseeable Financial Emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the distribution, after taking into account the extent to which such
hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship). If, in
the sole discretion of the Committee, the petition for a suspension and/or payout is approved, suspension shall take effect upon the date of approval and any payout shall be made within 60 days of the date of approval. 

4.4 Small Sum Cashouts. The Company may elect in writing to effect a cashout pursuant to Treasury Regulation
Section 1.409A-3(j)(4)(v), where the Account Balance under the Plan (together with account balances of any other aggregated arrangements) do not exceed the applicable dollar amount under Code Section 402(g)(1)(B) (or a lower threshold set
by the Company in such election). An Employee whose entire Account Balance has been distributed in a lump sum pursuant to this Section 4.4 and who recommences making deferral elections shall be treated for the Plan Year of such recommencement
as a new Participant under the Plan and shall for such Plan Year be eligible to make a new payout election with respect to such new participation. 

  
 10 

 ARTICLE 5  

Retirement Benefit 

5.1 Retirement Benefit. A Participant who Retires shall receive, as a Retirement Benefit, the Participant’s Account Balance. 

5.2 Payment of Retirement Benefit. In connection with the Participant’s commencement of participation in the Plan, a Participant
will elect on an Election Form to receive the Retirement Benefit within sixty (60) days following the six month anniversary of the Participant’s Retirement, in a lump sum or in installments of up to 60 quarters pursuant to the Quarterly
Installment Method. The Participant may change the Participant’s election once to an allowable alternative payout period by submitting a new Election Form to the Committee, provided that (a) the election cannot take effect until at least
12 months after the date on which the election is made, (b) the payment with respect to which such election is made must be deferred for a period of 5 years from the date such payment would otherwise have been made under the previous election,
(c) the election cannot accelerate the payment of such benefit and (d) the election is accepted by the Committee in its sole discretion. Subject to the prior sentence, the Election Form most recently accepted by the Committee shall govern
the payout of the Retirement Benefit. If a Participant does not make any election with respect to the payment of the Retirement Benefit, then such benefit shall be payable in a lump sum. The lump sum payment shall be made, or installment payments
shall commence, no earlier than six months after the Participant’s Retirement and no later than 60 days after that six month anniversary. 

5.3 Death Prior to Completion of Retirement Benefit. If a Participant dies after Retirement but before the Retirement Benefit is paid
in full, the Participant’s unpaid Retirement Benefit payments shall continue and shall be paid to the Participant’s Beneficiary(ies) over the remaining number of quarters and in the same amounts as the Retirement Benefit would have been
paid had the participant survived. 
 ARTICLE 6  

Pre-Retirement Survivor Benefit 

6.1 Pre-Retirement Survivor Benefit. The Participant’s Beneficiary shall receive a Pre-Retirement Survivor Benefit equal to the
Participant’s Account Balance if the Participant dies before the Participant Retires, experiences a Termination of Employment or is determined by the Committee to have a Disability. 

6.2 Payment of Pre-Retirement Survivor Benefit. A Participant, in connection with the Participant’s commencement of participation
in the Plan, will elect on an Election Form whether the Pre-Retirement Survivor Benefit shall be received by the Participant’s Beneficiary in a lump sum or in installments of up to 60 quarters pursuant to the Quarterly Installment Method,
payable or commencing within sixty (60) days after the last business day of the calendar quarter 

  
 11 

 
in which the Committee receives proof of the Participant’s death that it deems satisfactory. The Participant may change this election once to an allowable alternative payout period by
submitting a new Election Form to the Committee, provided that (a) the election cannot take effect until at least 12 months after the date on which the election is made, (b) the election cannot accelerate the payment of such benefit and
(c) the election is accepted by the Committee in its sole discretion. Subject to the prior sentence, the Election Form most recently accepted by the Committee prior to the Participant’s death shall govern the payout of the
Participant’s Pre-Retirement Survivor Benefit. If a Participant does not make any election with respect to the payment of the Pre-Retirement Survivor Benefit, then such benefit shall be paid in a lump sum payment made no later than 60 days
after the last business day of the calendar quarter in which the Committee is provided with proof of the Participant’s death that it deems satisfactory. 

ARTICLE 7  

Termination Benefit 

7.1 Termination Benefit. The Participant shall receive a Termination Benefit, which shall be equal to the Participant’s Account
Balance, if a Participant experiences a Termination of Employment prior to the Participant’s Retirement, death or Disability. 
 7.2
Payment of Termination Benefit. In connection with the commencement of participation in the Plan, a Participant will elect on an Election Form to receive the Termination Benefit in a lump sum or in installments of up to 20 quarters, pursuant
to the Quarterly Installment Method, commencing or paid no later than sixty (60) days following the date that is six months after the Participant’s Termination of Employment. The Participant may change the Participant’s election once
to an allowable alternative payout period by submitting a new Election Form to the Committee, provided that (a) the election cannot take effect for at least 12 months after the date on which the election is made, (b), the payment with respect
to which such election is made must be deferred for a period of 5 years from the date such payment would otherwise have been made, (c) the election cannot accelerate the payment of such benefit and (d) the election is accepted by the
Committee in its sole discretion. Subject to the prior sentence, the Election Form most recently accepted by the Committee shall govern the payout of the Termination Benefit. If a Participant does not make any election with respect to the payment of
the Termination Benefit, then such benefit shall be payable in a lump sum, payable no later than 60 days after the date that is six months after the Participant’s Termination of Employment. 

7.3 Death Prior to Completion of Termination Benefit. If a Participant dies after Termination of Employment but before the Termination
Benefit is paid in full, the Participant’s unpaid Termination Benefit payments shall continue and shall be paid to the Participant’s Beneficiary over the remaining number of quarters and in the same amounts as that benefit would have been
paid to the Participant had the Participant survived. 

  
 12 

 ARTICLE 8  

Disability Benefit 

8.1 Disability Benefit. A Participant who is determined by the Committee to have a Disability shall receive a Disability Benefit equal
to the Participant’s Account Balance. In connection with commencement of participation in the Plan, the Participant will elect on an Election Form receive the Disability Benefit in a lump sum or in installments of up to 60 quarters, pursuant to
the Quarterly Installment Method, payable or commencing within sixty days of the last business day of the calendar quarter in which the Committee determines that the Participant has a Disability. In the event a Participant does not make any
election, the Disability Benefit shall be paid in a lump sum payment commencing within sixty days after the last business day of the calendar quarter in which the Committee determines that the Participant has a Disability. 

ARTICLE 9  

Beneficiary Designation 

9.1 Beneficiary. Each Participant shall have the right, at any time, to designate the Participant’s Beneficiary(ies) (both primary
as well as contingent) to receive any benefits payable under the Plan to a beneficiary upon the death of a Participant or the death of a predecessor Beneficiary receiving benefits under the Plan. The Beneficiary designated under this Plan may be the
same as or different from the Beneficiary designation under any other plan of an Employer in which the Participant participates. 
 9.2
Beneficiary Designation; Change; Spousal Consent. A Participant shall designate the Participant’s Beneficiary by completing and signing the Beneficiary Designation Form, and returning it to the Committee or its designated agent. A
Participant shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Committee’s rules and procedures, as in effect from time to time. If a married
Participant names someone other than the Participant’s spouse as a primary Beneficiary, a spousal consent, in the form designated by the Committee, must be signed by that Participant’s spouse and returned to the Committee. Upon the
acceptance by the Committee of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be canceled. The Committee shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and
accepted by the Committee prior to the Participant’s death. 
 9.3 Acknowledgment. No designation or change in designation of a
Beneficiary shall be effective until received and acknowledged in writing by the Committee or its designated agent. 
 9.4 No Beneficiary
Designation. If a Participant fails to designate a Beneficiary as provided in Sections 9.1, 9.2 and 9.3 or, if all designated Beneficiaries predecease the Participant or die prior to complete distribution of the Participant’s benefits, then
the Participant’s designated Beneficiary shall be deemed to be the Participant’s surviving spouse. If the Participant has no surviving spouse, the benefits remaining under the Plan to be paid to a Beneficiary shall be payable to the
executor or personal representative of the Participant’s estate. 

  
 13 

 9.5 Doubt as to Beneficiary. If the Committee has any doubt as to the proper Beneficiary
to receive payments pursuant to this Plan, the Committee shall have the right, exercisable in its discretion, to cause the Participant’s Employer to withhold such payments until this matter is resolved to the Committee’s satisfaction. 

9.6 Discharge of Obligations. The payment of benefits under the Plan to a Beneficiary shall fully and completely discharge all
Employers and the Committee from all further obligations under this Plan with respect to the Participant, and that Participant’s Plan Agreement shall terminate upon such full payment of benefits. 

ARTICLE 10  

Leave of Absence 

10.1 Leaves of Absence. A Participant on a leave of absence will be treated as employed by the Employer if the period of leave does not
exceed six months (extended to 29 months in the case of Disability leave) or, if longer, the period during which the Participant retains a right to reemployment under applicable law or contract. A participant on an unpaid leave of absence shall not
be required to make deferrals until the Participant returns to a paid employment status. Upon such return, the Participant may make a deferral election in accordance with the terms of the Plan, to take effect in the following Plan Year. If a
Participant is authorized by the Participant’s Employer for any reason to take a paid leave of absence from the employment of the Employer, the Participant shall continue to be considered employed by the Employer and the Annual Deferral Amount
shall continue to be withheld during such paid leave of absence in accordance with Section 3.3. 
 ARTICLE 11  

Termination, Amendment or Modification 

11.1 Termination. Although each Employer anticipates that it will continue the Plan for an indefinite period of time, there is no
guarantee that any Employer will continue the Plan or will not terminate the Plan at any time in the future. Accordingly, each Employer reserves the right, in its sole discretion, to discontinue its sponsorship of the Plan and/or to terminate the
Plan at any time with respect to any or all of its participating Employees by action of either the Committee or its board of directors, consistent with the requirements of Code Section 409A and the regulations thereunder. Termination of the
Plan shall not result in a reduction in any Participant’s Account Balance under the Plan. 
 11.2 Amendment. The Committee may,
at any time in its sole discretion, amend or modify the Plan in whole or in part with respect to any Employer; provided, however, that: (a) no amendment or modification shall be effective to decrease or restrict the value of a
Participant’s Account Balance in existence at the time the amendment or modification is made, calculated as if the Participant had experienced a Termination of Employment as of the effective date of the

  
 14 

 
amendment or modification or, if the amendment or modification occurs after the date upon which the Participant was eligible to Retire, the Participant had Retired as of the effective date of the
amendment or modification, and (b) no amendment or modification of this Section 11.2 shall be effective. The amendment or modification of the Plan shall not affect any Participant or Beneficiary who has become entitled to the payment of
benefits under the Plan as of the date of the amendment or modification, except to the extent permitted or required under Code Section 409A and the regulations issued thereunder. 

11.3 Plan Agreement. Despite the provisions of Section 11.1 and 11.2, if a Participant’s Plan Agreement contains benefits or
limitations that are not in this Plan document, the Employer may only amend or terminate such provisions with the consent of the Participant. 

11.4 Effect of Payment; Non-Discretionary Cashout. The full payment of the applicable benefit under Article 4, 5, 6, 7 or 8 of the Plan
shall completely discharge all obligations to a Participant and the Participant’s designated Beneficiary under this Plan and the Participant’s Plan Agreement shall terminate. Notwithstanding anything in this Plan to the contrary, in the
event a Participant’s Account Balance under the Plan, determined as of the last business day of the calendar quarter following the date the Participant first becomes entitled to a benefit pursuant to Articles 4, 5, 6, 7 or 8, is less than
$25,000, the Participant’s Account Balance shall be paid in a lump sum within sixty (60) days after the last business day of the applicable calendar quarter in which the Account Balance determination is made by the Employer. 

ARTICLE 12  

Administration 

12.1 Committee Duties. Except as otherwise provided in this Article 12, this Plan shall be administered by a Committee which shall
consist of the Board, or such committee as the Board shall appoint from time to time. Members of the Committee may be Participants under this Plan and need not be members of the Board. The Committee shall also have the discretion and authority to
(a) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and the governance of the Committee and (b) decide or resolve any and all inconsistencies, ambiguities, omissions and
questions, including interpretations of this Plan, as may arise in connection with the Plan. Any individual serving on the Committee who is a Participant shall not vote or act on any matter relating solely to himself or herself. When making a
determination or calculation, the Committee shall be entitled to rely on information furnished by a Participant or the Company. 
 12.2
Agents. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them such administrative duties as it sees fit (including acting through a duly appointed representative) and may from time to
time consult with counsel who may be counsel to any Employer. The Company shall pay all expenses of such agents. 
 12.3 Binding Effect
of Decisions. The decision or action of the Committee with respect to any question arising out of or in connection with the administration, interpretation or application of the Plan and the rules and regulations promulgated hereunder shall be
final and conclusive and binding upon all persons having any interest in the Plan. 

  
 15 

 12.4 Indemnity of Committee. All Employers shall indemnify, defend and hold harmless each
member of the Committee, and any Employee to whom the duties of the Committee may be delegated, against any and all claims, losses, damages, expenses or liabilities, including reasonable attorneys’ fees and court costs, arising from any action
or failure to act with respect to this Plan, except in the case of willful misconduct by such member of the Committee or such Employee. 

12.5 Employer Information. To enable the Committee to perform its functions, the Company and each Employer shall supply full and timely
information to the Committee on all matters relating to the compensation of its Participants, the date and circumstances of the Retirement, Disability, death or Termination of Employment of its Participants, and such other pertinent information as
the Committee may reasonably require. 
 ARTICLE 13  

Other Benefits and Agreements 

13.1 Coordination with Other Benefits. The benefits provided for a Participant and Participant’s Beneficiary under the Plan are in
addition to any other benefits available to such Participant under any other plan or program for employees of the Participant’s Employer. The Plan shall supplement and shall not supersede, modify or amend any other such plan or program except
as may otherwise be expressly provided. 
 ARTICLE 14  

Claims Procedures 

14.1 Presentation of Claim. Any Participant or Beneficiary of a deceased Participant (such Participant or Beneficiary being referred to
below as a “Claimant”) may deliver to the Committee a written claim for a determination with respect to the amounts distributable to such Claimant from the Plan. If such a claim relates to the contents of a notice received by the
Claimant, the claim must be made within 60 days after such notice was received by the Claimant. All other claims must be made within 180 days of the date on which the event that caused the claim to arise occurred. The claim must state with
particularity the determination desired by the Claimant. 
 14.2 Notification of Decision. The Committee shall consider a
Claimant’s claim within a reasonable time, and shall notify the Claimant in writing: 
 (a) that the Claimant’s requested
determination has been made, and that the claim has been allowed in full; or 

  
 16 

 (b) that the Committee has reached a conclusion contrary, in whole or in part, to the
Claimant’s requested determination, and such notice must set forth in a manner calculated to be understood by the Claimant: 
  

	 	(i)	the specific reason(s) for the denial of the claim, or any part of it; 

  

	 	(ii)	specific reference(s) to pertinent provisions of the Plan upon which such denial was based; 

  

	 	(iii)	a description of any additional material or information necessary for the Claimant to perfect the claim, and an explanation of why such material or information is necessary; and 

 

	 	(iv)	an explanation of the claim review procedure set forth in Section 14.3. 

 14.3 Review
of a Denied Claim. Within 60 days after receiving a notice from the Committee that a claim has been denied, in whole or in part, a Claimant (or the Claimant’s duly authorized representative) may file with the Committee a written request for
a review of the denial of the claim. Thereafter, but not later than 30 days after the review procedure began, the Claimant (or the Claimant’s duly authorized representative): 

(a) may review pertinent documents; 

(b) may submit written comments or other documents; and/or 

(c) may request a hearing, which the Committee, in its sole discretion, may grant. 

14.4 Decision on Review. The Committee shall render its decision on review promptly, and not later than 60 days after the filing of a
written request for review of the denial, unless a hearing is held or other special circumstances require additional time, in which case the Committee’s decision must be rendered within 120 days after such date. Such decision must be written in
a manner calculated to be understood by the Claimant, and it must contain: 
 (a) specific reasons for the decision; 

(b) specific reference(s) to the pertinent Plan provisions upon which the decision was based; and 

(c) such other matters as the Committee deems relevant. 

14.5 Legal Action. A Claimant’s compliance with the foregoing provisions of this Article 14 is a mandatory prerequisite to a
Claimant’s right to commence any legal action with respect to any claim for benefits under this Plan. 
 ARTICLE 15  

Trust 
 15.1
Establishment of the Trust. On or as soon as practicable following the effective date of this Plan, the Company shall establish the Trust, with sub-trusts for each Employer. Each 

  
 17 

 
Employer shall at least annually transfer over to the Trust such assets as the Employer determines, in its sole discretion, are necessary to provide, on a present value basis, for its respective
future liabilities created with respect to the Annual Deferral Amounts for such Employer’s Participants for all periods prior to the transfer, as well as any debits and credits to the Participants’ Account Balances for all periods prior to
the transfer, taking into consideration the value of the assets in the trust at the time of the transfer. Such assets shall be allocated to the respective sub-trust of each participating Employer. 

15.2 Interrelationship of the Plan and the Trust. The provisions of the Plan and the Plan Agreement shall govern the rights of a
Participant to receive distributions pursuant to the Plan. The provisions of the Trust shall govern the rights of the Employers, Participants and the creditors of the Employers to the assets transferred to the Trust. Each Employer shall at all times
remain liable to carry out its obligations under the Plan with respect to its Participants. In this regard, if a Participant has been employed by only one Employer, such Employer shall be responsible for the total amounts credited to such
Participant’s Account Balance under this Plan. If a Participant has been employed by more than one Employer, each Employer shall be responsible only for the amounts credited to the Participant’s Account Balance by such Employer. 

15.3 Distributions from the Trust. Each Employer’s obligations under the Plan may be satisfied with Trust assets distributed
pursuant to the terms of the Trust, and any such distribution shall reduce the Employer’s obligations under this Plan. 
 15.4
Investment of Trust Assets. The Trustee of the Trust shall be authorized, upon written instructions received from the Committee or investment manager appointed by the Committee, to invest and reinvest the assets of the Trust in accordance
with the applicable Trust Agreement. 
 15.5 No Claim on Trust Assets. A Participant shall have no preferred claim on, or any
beneficial interest in, any assets of the Trust. Any assets held by the Trust shall be subject to the claims of general creditors of each Employer that is the grantor of the Trust under federal and state law in the event of the Employer’s
“insolvency” (i.e., the Employer is unable to pay its debts as they become due or is subject to a pending proceeding as a debtor under the United States Bankruptcy Code), but only with respect to the assets of the Trust held for the
benefit of Participants employed or formerly employed by such Employer. 
 ARTICLE 16  

Miscellaneous 
 16.1
Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of Code Section 401(a) and that “is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation
for a select group of management or highly compensated employees” within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1). In addition, the Plan is intended to comply with Code Sections 409A(a)(1) to (4) and (b)(1) to (2).
The Plan shall be administered and interpreted in a manner consistent with those foregoing intents. Should any provision of this Plan not comply the 

  
 18 

 
provisions of Code Section 409A listed above, that provision shall have no effect on the remaining parts of this Plan and this Plan shall be construed and enforced as if such provision had
never been inserted herein. 
 16.2 Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns
shall have no legal or equitable rights, interests or claims in any property or assets of an Employer. For purposes of the payment of benefits under this Plan, any and all of an Employer’s assets shall be, and remain, the general, unpledged
unrestricted assets of the Employer. An Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. 

16.3 Employer’s Liability. An Employer’s liability for the payment of benefits shall be defined only by the Plan and the Plan
Agreement, as entered into between the Employer and a Participant. An Employer shall have no obligation to a Participant under the Plan except as expressly provided in the Plan and the Participant’s Plan Agreement. 

16.4 Nonassignability. Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge,
anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are expressly declared to be,
unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a
Participant or any other person, be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise. 

16.5 Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to constitute a contract of employment
between any Employer and the Participant. Such employment is hereby acknowledged to be an “at will” employment relationship that can be terminated at any time for any reason, or no reason, with or without cause, and with or without
notice, unless otherwise expressly provided in a written employment agreement. Nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of any Employer or to interfere with the right of any Employer to
discipline or discharge the Participant at any time. 
 16.6 Furnishing Information. A Participant or Participant’s Beneficiary
will cooperate with the Committee by furnishing any and all information requested by the Committee and take such other actions as may be requested in order to facilitate the administration of the Plan and the payments of benefits hereunder,
including but not limited to taking such physical examinations as the Committee may deem necessary. 
 16.7 Terms. Whenever any words
are used herein in the masculine, they shall be construed as though they were in the feminine in all cases where they would so apply; and whenever any words are used herein in the singular or in the plural, they shall be construed as though they
were used in the plural or the singular, as the case may be, in all cases where they would so apply. 

  
 19 

 16.8 Captions. The captions of the articles, sections and paragraphs of this Plan are for
convenience only and shall not control or affect the meaning or construction of any of its provisions. 
 16.9 Governing Law. Subject
to ERISA, the provisions of this Plan shall be construed and interpreted according to the internal laws of the State of Nevada, without regard to its conflicts of laws principles. 

16.10 Notice. Any notice or filing required or permitted to be given to the Committee under this Plan shall be sufficient if in writing
and hand-delivered, or sent by registered or certified mail, to the address below: 
 MGM Growth Properties Operating Partnership LP 

c/o MGM Resorts 
 3600 Las Vegas
Blvd So. 
 Las Vegas, NV 89109 

Attention: Designated legal counsel for purposes of administration of the MGM 

Growth Properties Operating Partnership LP Nonqualified Deferred 

Compensation Plan 
 Such notice
shall be deemed given as of the date of delivery or, if delivery is made by mail as of the date shown on the postmark on the receipt for registration or certification. 

Any notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing and hand-delivered,
or sent by mail, to the last known address of the Participant. 
 16.11 Successors. The provisions of this Plan shall bind and inure
to the benefit of the Participant’s Employer and its successors and assigns and the Participant and the Participant’s designated Beneficiaries. No other person shall be a third-party beneficiary or acquire any rights under this Plan. 

16.12 Spouse’s Interest. The interest in the benefits hereunder of a spouse of a Participant who has predeceased the Participant
shall automatically pass to the Participant and shall not be transferable by such spouse in any manner, including but not limited to such spouse’s will, nor shall such interest pass under the laws of intestate succession. 

16.13 Validity. In case any provision of this Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not
affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 

16.14 Incompetent. If the Committee determines in its discretion that a benefit under this Plan is to be paid to a minor, a person
declared incompetent or a person incapable of handling the disposition of that person’s property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor,
incompetent or incapable person. The Committee may require proof of minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of
the Participant and the Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 

  
 20 

 16.15 Court Order. The Committee is authorized to make any payments directed by court
order in any action in which the Plan or the Committee has been named as a party. In addition, if a court determines that a spouse or former spouse of a Participant has an interest in the Participant’s benefits under the Plan in connection with
a property settlement or otherwise, the Committee, in its sole discretion, shall have the right, notwithstanding any election made by a Participant, to immediately distribute the spouse’s or former spouse’s interest in the
Participant’s benefits under the Plan to that spouse or former spouse. Notwithstanding the foregoing, the Committee shall interpret this provision in a manner that is consistent with Code Section 409A and other applicable tax law,
including but not limited to guidance issued after the effective date of this Plan. 
 16.16 Distribution in the Event of Taxation. 

(a) In General. If, for any reason, all or any portion of a Participant’s benefits under this Plan becomes taxable to the
Participant prior to receipt, a Participant may petition the Committee before a Change in Control, or the Trustee of the Trust after a Change in Control, for a distribution of that portion of the Participant’s benefit that has become taxable.
Upon the grant of such a petition, which grant shall not be unreasonably withheld (and, after a Change in Control, shall be granted), a Participant’s Employer shall distribute to the Participant immediately available funds in an amount equal to
the taxable portion of the Participant’s benefit (which amount shall not exceed a Participant’s unpaid Account Balance under the Plan). If the petition is granted, the tax liability distribution shall be made within 90 days of the date
when the Participant’s petition is granted. Such a distribution shall affect and reduce the benefits to be paid under this Plan. Notwithstanding the foregoing, the Committee shall interpret this provision in a manner that is consistent with
Code Section 409A and other applicable tax law, including but not limited to guidance issued after the effective date of this Plan. 

(b) Trust. If the Trust terminates in accordance with its terms and benefits are distributed from the Trust to a Participant in
accordance therewith, the Participant’s benefits under this Plan shall be reduced to the extent of such distributions. 
 16.17
Legal Fees To Enforce Rights After Change in Control. The Company and each Employer is aware that upon the occurrence of a Change in Control, the Board or the board of directors of a Participant’s Employer (which might then be composed
of new members) or a shareholder of the Company or the Participant’s Employer, or of any successor corporation, might cause or attempt to cause, the Company, the Participant’s Employer or such successor to refuse to comply with its
obligations under the Plan and might cause or attempt to cause the Company or the Participant’s Employer to institute, or may institute, litigation seeking to deny Participants the benefits intended under the Plan. In these circumstances, the
purpose of the Plan could be frustrated. Accordingly, if, following a Change in Control, it should appear to any Participant that the Company, the Participant’s Employer or any successor corporation has failed to comply with any of its
obligations under the Plan or any agreement thereunder or, if the Company, such Employer or any other person takes any action to declare the Plan void or unenforceable or institutes any litigation or other legal action designed to deny, diminish or
to 

  
 21 

 
recover from any Participant the benefits intended to be provided (collectively, the “Dispute”), then the Company and the Participant’s Employer shall pay, if the
Participant prevails in the Dispute, the Participant’s reasonable legal fees and court costs actually incurred by the Participant in the initiation or defense of the Dispute, whether by or against the Company or the Participant’s Employer
or any director, officer, shareholder or other person affiliated with the Company, the Participant’s Employer or any successor thereto. 

  
 22EX-10.10

 EXHIBIT 10.10 

Form of 
 MGM Growth
Properties LLC 
 2016 DEFERRED COMPENSATION PLAN 

FOR NON-EMPLOYEE DIRECTORS 

MGM Growth Properties LLC, a Delaware limited liability company (the “Company”), hereby establishes this nonqualified
deferred compensation plan for (i) members of the Board of Directors of the Company and (ii) member of any Affiliate Board, in each case, who are not employees or officers of the Company (“Non-Employee Directors”), which
plan is known as the MGM Growth Properties LLC 2016 Deferred Compensation Plan for Non-Employee Directors (the “Plan”). The purpose of the Plan is to enhance the Company’s and its Affiliates’ ability to attract and retain
Non-Employee Directors whose training, experience and ability will promote the interests of the Company and to directly align the interests of such Non-Employee Directors with the interests of the Company’s stockholders. The Plan is designed to
permit Non-Employee Directors to defer the receipt of all or a portion of the compensation otherwise payable to them for services to the Company. 

The Plan is effective as of [●], 2016 (the “Effective Date”). The Plan is intended to be, and shall be administered as,
an unfunded plan maintained for the purpose of providing deferred compensation for the Non-Employee Directors and, as such, is not an “employee benefit plan” within the meaning of Title I of ERISA (as defined below). 

ARTICLE I 

DEFINITIONS 
 1.1
“Administrator” means the administrator that has been appointed by the Board pursuant to Article V of the Plan. 
 1.2
“Affiliate” means any corporation or any other entity (including, but not limited to, a partnership or a limited liability company), that directly or indirectly through one or more intermediaries controls, is controlled by or
is under common control with the corporation or other entity in question. 
 1.3 “Affiliate Board” means the board of
directors, board of managers or similar administrative body of any Affiliate of the Company. 
 1.4 “Board” means the Board
of Directors of the Company or such committee thereof (for avoidance of doubt, comprised solely of one or more members of the Board of Directors of the Company) to which the Board of Directors of the Company delegates one or more of its obligations,
responsibilities and authorities under the Plan from time to time. 
 1.5 “Cash Fees” shall have the meaning set forth in
Section 3.2(b) of the Plan. 
 1.6 “Code” means the Internal Revenue Code of 1986, as amended. 

1.7 “Common Stock” means the Class A common shares, par value $0.01, of the Company. 

1.8 “Company” means MGM Growth Properties LLC. 

1.9 “Deferred Compensation Accounts” shall have the meaning set forth in Article III of the Plan. 

1.10 “Deferred Stock Unit” shall have the meaning set forth in Section 3.3 of the Plan. 

 1.11 “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended. 
 1.12 “Fees” includes all fee income payable to Non-Employee Directors for their service on the Board,
including, but not limited to (a) annual retainer fees (whether paid in equity (including RSUs) or cash) and (b) compensation that may be payable to such Non-Employee Directors for serving on any of the committees of the Board, as
chairperson of any of the committees of the Board or as Lead Director. The term “Fees” does not include travel payments that may be made to such Non-Employee Directors as a result of attending meetings of the Board or payments that
constitute reimbursement for expenses incurred by a Non-Employee Director in connection with his or her services to the Board. Notwithstanding anything herein to the contrary, fee income payable to
Non-Employee Directors for the service to Affiliate Boards shall not be considered “Fees” for purposes of this Plan unless approved by the Board. 

1.13 “Measurement Fund” shall have the meaning set forth in Section 3.3 of the Plan. 

1.14 “Participant” means a Non-Employee Director (and, if applicable, his or her beneficiaries) who has elected to
participate in the Plan. 
 1.15 “Plan Year” means (a) initially, the period commencing [●], 2016, and
terminating on December 31, 2016, and (b) thereafter, each full or partial calendar year during which this Plan is in effect. 

1.16 “Restricted Stock Unit” or “RSU” means an award granted to a Non-Employee Director who is a member of
either the Board or an Affiliate Board pursuant to Article 8 of the Company’s 2016 Omnibus Incentive Plan, as amended from time to time, in consideration of the Participant’s past or expected future provision of services to the Company.

 1.17 “Service End Date” means the first day of the month following the month in which the Participant terminates his or
her services as a Non-Employee Director. 
 1.18 “Subsidiary” means any corporation, limited liability company or
partnership in which the Company owns, directly or indirectly, more than 50% of the total combined voting power of all classes of stock of such corporation or of the capital interest or profits interest of such partnership. 

ARTICLE II 

PARTICIPATION REQUIREMENTS 

2.1 Eligibility. All Non-Employee Directors are eligible to participate in the Plan. A Non-Employee Director will be deemed a
Participant in the Plan if he or she defers all or a portion of the RSUs and/or other Fees to be earned during a Plan Year as provided herein. 

2.2 Elections. 
 (a)
General Rules. The election to defer all or a portion of the Participant’s RSUs and/or other Fees for the next Plan Year, as well as the election of the form and timing of any distributions on the Participant’s behalf with respect
to the amount deferred during such Plan Year, shall be made by written notice delivered by the Participant to the Company in the manner specified by the Company and not later than the last day immediately preceding such Plan Year.

  
 2 

 
In the case of a Non-Employee Director who first becomes eligible during a Plan Year, such election must be made by written notice not later than thirty (30) days after such Non-Employee
Director first becomes eligible to participate in this Plan; provided, however, that with respect to such initial elections, no RSUs and/or other Fees attributable to the period before which the election is made and presented to the Company are
eligible for deferral under this Plan. Each such election shall be irrevocable during such Plan Year and thereafter, except as set forth below. 

(b) Amendment of Election Form. Each Participant may amend his or her election forms with respect to his or her Deferred Compensation
Account balance (i) to change the previously-elected form of distribution in respect of all distributions under the Plan to another distribution form permitted under Section 4.1, or (ii) to change the starting date for commencement of
all payments under the Plan to another definitely determinable date, provided, however that such election shall be made in the manner specified by the Company. Notwithstanding the foregoing, to be effective, any election made pursuant to this
Section 2.2(b) must satisfy the following conditions: (x) it must be made at least twelve months prior to the date as of which distribution to the Participant in respect of his or her Deferred Compensation Account would otherwise have been
made to the Participant and (y) it must defer the commencement date of distribution to the Participant in respect of his or her Deferred Compensation Account for at least five (5) years from the date that would have applied absent such
election. 
 ARTICLE III 

DEFERRED COMPENSATION ACCOUNTS 

3.1 Establishment of Deferred Compensation Accounts. An account shall be established for each Participant which shall be designated as
his or her Deferred Compensation Account. Each Participant’s Deferred Compensation Account may be sub-allocated as a recordkeeping matter and accounting convenience, but the Company shall not be required to segregate any amounts credited to the
Deferred Compensation Accounts in any manner or in any form, except in its sole discretion. 
 3.2 Crediting Deferred Compensation
Accounts. 
 (a) Crediting of RSUs to Deferred Compensation Accounts. Upon the execution of a valid election form pursuant to
Section 2.2(a) with respect to the deferral of RSUs, such deferred RSUs shall be credited to the Participant’s Deferred Compensation Accounts as of the date the award would have otherwise vested. 

(b) Crediting of Other Fees to Deferred Compensation Accounts. Upon the execution of a valid election form pursuant to
Section 2.2(a) with respect to the deferral of Fees other than RSUs attributable to services performed by the Participant in the next Plan Year (such Fees referred to herein as “Cash Fees”), such Fees shall be credited to the
Participant’s Deferred Compensation Accounts on the last day of the fiscal quarter to which such Fees relate. 
 3.3
Crediting/Debiting of Account Balances. In accordance with, and subject to, the rules and procedures that are established from time to time by the Board, in its sole discretion, 

  
 3 

 
amounts shall be credited or debited to a Participant’s Deferred Compensation Account in accordance with the following rules: 

(a) Election of Measurement Funds. Solely with respect to Cash Fees deferred under the Plan, a Participant may elect, on an election
form provided by the Board, one or more Measurement Fund(s) (as described in Section 3.3(c)) to be used to determine the additional amounts to be credited or debited to the Participant’s Deferred Compensation Account. A Participant may
elect to add or delete one or more available Measurement Fund(s) to be used to determine the additional amounts to be credited or debited to the Participant’s Deferred Compensation Account, or, other than with respect to changes between the
Company stock fund and any other Measurement Fund, to change the portion of the Cash Fees deferred under the Participant’s Deferred Compensation Account allocated to each previously or newly elected Measurement Fund. A Participant may elect to
make such a change by submitting an election form, whether written or electronic (as determined by the Board from time to time and in its sole discretion), to the Board. Any election so made and accepted by the Board shall apply no later than the
third business day following the Board’s acceptance of the election. Any such election shall continue to apply to Cash Fees deferred under the Participant’s Deferred Compensation Account, unless subsequently changed in accordance with this
Section 3.3(a). Once an election has been made to allocate deferred Cash Fees to the Company stock fund, the Participant shall not be permitted to change such election to allocate such Cash Fees to a different Measurement Fund. 

(b) Proportionate Allocation. In making any election described in Section 3.3(a), the Participant shall specify on the election
form, in increments of one percentage point (1%), the percentage of the Cash Fees deferred under the Participant’s Deferred Compensation Account to be allocated to a Measurement Fund (as if the Participant were making an investment in that
Measurement Fund with that portion of the Participant’s Deferred Compensation Account). 
 (c) Measurement Funds. A Participant
may elect one or more measurement funds (the “Measurement Funds”) from among those selected by the Board for the purpose of crediting or debiting additional amounts to the Participant’s Deferred Compensation Account.
Measurement Funds selected by the Board may include one or more mutual funds, a fixed interest crediting rate formula, a Company stock fund and/or other investment alternatives. As necessary, the Board may, in its sole discretion, discontinue,
substitute or add Measurement Funds. Each such action will take effect as of the first day of the calendar quarter that follows by thirty (30) days or more the day on which the Board gives Participants advance written notice of such change,
unless such advance notice cannot be given due to reasons beyond the control of the Board, in which case notice of the change shall be given as soon as administratively practical. In selecting the Measurement Funds that are available from time to
time, neither the Board nor the Company shall be liable to any Participant for such selection or adding, deleting or continuing any available Measurement Fund. The Participant shall bear full responsibility for all results associated with the
Participant’s selection of Measurement Funds under this Section 3.3, and the Company shall have no responsibility or liability with respect to the Participant’s selection of such Measurement Funds. 

  
 4 

 (d) Crediting or Debiting Method. The performance of each elected Measurement Fund (either
positive or negative) will be reasonably determined by the Board. The portion of a Participant’s Deferred Compensation Account that relates to Cash Fees deferred under the Plan shall be credited or debited on a daily basis based on the
performance of each Measurement Fund selected by the Participant. 
 (e) No Actual Investment. Notwithstanding any other provision of
this Plan that may be interpreted to the contrary, the Measurement Funds are to be used for measurement purposes only, and a Participant’s election of any such Measurement Fund, the allocation to the Participant’s Deferred Compensation
Account thereof, the calculation of additional amounts and the crediting or debiting of such amounts to a Participant’s Deferred Compensation Account shall not be considered or construed in any manner as an actual investment of the
Participant’s Deferred Compensation Account in any such Measurement Fund. In the event that the Company, in its sole discretion, decides to invest funds in any or all of the Measurement Funds, no Participant shall have any rights in or to such
investments themselves. Without limiting the foregoing, a Participant’s Deferred Compensation Account shall at all times be a bookkeeping entry only and shall not represent any investment made on the Participant’s behalf by the Company;
and the Participant shall at all times remain an unsecured creditor of the Company. 
 (f) Deferred Stock Units. With respect to the
portion of a Participant’s Deferred Compensation Account attributable to deferred RSUs and the portion of a Participant’s Deferred Compensation Account attributable to Cash Fees for which the Measurement Fund selected is the Company stock
fund, such amounts will be deemed invested in deferred stock units that are intended to mirror the performance of shares of Common Stock, with each deferred stock unit the equivalent of one share of Common Stock (“Deferred Stock
Units”). Any such Deferred Stock Units attributable to Cash Fees shall be treated as Restricted Stock Units (which, for avoidance of doubt, have granted pursuant to Article 8 of the Company’s 2016 Omnibus Incentive Plan, as amended
from time to time, subject to a period of restriction). Such amounts will be credited under the Plan as if the Participant had actually purchased shares of Common Stock on the date of such deferral. If dividends on the Common Stock are declared
while a Participant holds Deferred Stock Units in his or her Deferred Compensation Account, additional Deferred Stock Units will be credited to such Deferred Compensation Account in the following manner. First, a notional value equal to the cash
value of dividends that would be paid upon the same number of whole shares of Common Stock as the Participant has Deferred Stock Units in his or her Deferred Compensation Account on the dividend crediting date (e.g., the date such dividend is
payable) will be calculated. Second, such notional value will be deemed to be allocated to the Participant’s Deferred Compensation Account and credited to a corresponding number of Deferred Stock Units to such Deferred Compensation Account (in
whole or fractional units) as of the same date, as soon as administratively practicable. For the avoidance of doubt, deferred RSUs must always be hypothetically invested in Deferred Stock Units, however, although Cash Fees deferred under the Plan
may be hypothetically invested in any of the Measurement Funds, including Deferred Stock Units, once invested in Deferred Stock Units, deferred Cash Fees may not be transferred to any other Measurement Funds. 

(g) Valuation of Deferred Compensation Account. With respect to any distribution for a Participant’s Deferred Compensation Account
as provided for in Article IV of the Plan, the aggregate value of any such distribution shall be valued as of the date of distribution. 

  
 5 

 ARTICLE IV 

DISTRIBUTIONS FROM THE PLAN 

4.1 Timing and Form of Distribution. The Company shall pay to the Participant (or, in the event of the Participant’s death, to the
Participant’s designated beneficiary) a sum equal to the amount then standing to his or her credit in his or her Deferred Compensation Account (plus earnings or losses as provided for under Section 3.3 herein), in the following manner:

 (a) Lump Sum or Installment Payments. Payments shall be made in a lump sum, or in installments (to the extent made available by the
Administrator), as elected by the Participant in his or her deferral election form, to begin within 90 days following the Participant’s Service End Date. In the event an installment option is chosen, such installments shall be as nearly equal
as practicable and shall continue even if the Participant again serves on the Board. The form of distribution for that portion of a Participant’s Deferred Compensation Account deemed invested in Deferred Stock Units shall be Common Stock. The
form of distribution for that portion of a Participant’s Deferred Compensation Account deemed invested in Measurement Fund(s) other than Deferred Stock Units shall be cash. 

(b) Small Account Balances—Lump Sum Payout. Notwithstanding the foregoing, in the event the amount scheduled for distribution on
or following the Participant’s Service End Date in installments (rather than lump sum) is ten thousand dollars ($10,000) or less at the time distributions would commence by reason of the application of this Section 4.1(b), payment of such
portion of Participant’s Deferred Compensation Account balance shall be made in a single lump sum within 90 days of the date such distribution would otherwise have commenced, notwithstanding the form of benefit payment elected by the
Participant. 
 (c) Normal Form of Benefits. In the event no election is made pursuant to this Article IV, payments shall be made in
lump sum within 90 days following the Participant’s Service End Date. 
 (d) Death of Participant. Notwithstanding the above, if
the Participant dies (either before payments commence from the Plan or while such payments are being made), the balance of the Participant’s Deferred Compensation Account shall immediately become due and payable in one lump sum to the
Participant’s beneficiary or, if no beneficiary is designated or then living, to the Participant’s estate within 90 days of the date of the Participant’s death. 

ARTICLE V 

ADMINISTRATION OF THE PLAN 

5.1 Administration of the Plan. The Board shall appoint an Administrator to administer the Plan, which Administrator shall be comprised
of one or more executive officers of the Company. The Administrator shall maintain such procedures and records as will enable the Administrator to determine the Participants and their beneficiaries who are entitled to receive benefits under the Plan
and the amounts thereof. 

  
 6 

 5.2 General Powers of Administration. The Board shall have the exclusive right, power, and
authority to interpret, in its sole discretion, any and all of the provisions of the Plan; to resolve any ambiguity or inconsistency or provide for any omission under the Plan; and to consider and decide conclusively any questions (whether of fact
or otherwise) arising in connection with the administration of the Plan or any claim for benefits arising under the Plan. Any decision or action of the Board or the Administrator shall be conclusive and binding on the Company and the Participants.
The Plan is designed to comply with the applicable requirements of Section 409A of the Code and the regulations promulgated thereunder, and shall be administered and construed to the maximum extent possible consistent with the requirements of
such Section and such regulations. 
 ARTICLE VI 

AMENDMENT AND TERMINATION 

6.1 Amendment of the Plan. The Administrator shall have the authority to adopt minor amendments to the Plan without prior approval by
the Board that: 
 (a) are necessary or advisable for purposes of complying with applicable laws and regulations; 

(b) relate to administrative practices under the Plan (including, but not limited to, the establishment of any procedures or processes or
accounts related to the distribution of Common Stock or other amounts under the Plan); or 
 (c) have an insubstantial financial effect on
the Plan. 
 The Board shall have the authority to adopt any other amendments to the Plan not encompassed under the terms of the preceding
sentence. Any such amendments must be made by written instrument, and notice of such amendments shall be provided as soon as practicable to Participants after their adoption. 

6.2 Limitations on Amendment or Termination of the Plan. The Company reserves the right to amend or terminate the Plan in any respect
and at any time, without the consent of Participants or beneficiaries; provided, however, that the following conditions with respect to such amendment or termination must be satisfied in order for such amendment or termination to be binding and in
effect: 
 (a) Such amendment or termination must be made pursuant to a written resolution of the Board which is approved thereafter by the
Board; and 

  
 7 

 (b) Such amendment or termination resolution may not adversely affect the rights of any
Participant or beneficiary to receive benefits earned and accrued under the Plan prior to such amendment or termination; provided, however, that the following shall not be deemed to violate this provision: 

(i) any acceleration of payments of amounts accrued under the Plan by action of the Board or by operation of the Plan’s
terms; or 
 (ii) any decision by the Board to limit participation (or other features of the Plan) prospectively under the
Plan. 
 ARTICLE VII 

GENERAL PROVISIONS 

7.1 Common Stock Issued Under the Plan. Any shares of Common Stock that are distributed under the Plan in accordance with Article IV
shall be funded from the share pool available under the Company’s 2016 Omnibus Incentive Plan, as amended from time to time, or any other equity incentive plan of the Company. No shares shall be separately issuable under the Plan. 

7.2 Participant’s Rights Unsecured and Unfunded. This Plan is an unfunded plan maintained primarily to provide deferred
compensation benefits for Non-Employee Directors, and therefore is exempt from the provisions of Parts 2, 3 and 4 of Title I of ERISA. Accordingly, no assets of the Company shall be segregated or earmarked to represent the liability for accrued
benefits under the Plan. Amounts referenced in Participant account statements are only recordkeeping devices reflecting such liability for accrued benefits, and do not reflect any actual amounts credited. The right of a Participant (or his or her
Beneficiary) to receive a payment hereunder shall be an unsecured claim against the general assets of the Company or any successor to the Company. All payments under the Plan shall be made from the general funds of the Company or any successor. The
Company is not required to set aside money or any other property to fund its obligations under the Plan, and all amounts that may be set aside by the Company prior to the distribution of account balances under the terms of the Plan remain the
property of the Company (or, if applicable, any successor). Notwithstanding the foregoing, nothing in this Section 7.2 shall preclude the Company, in its sole discretion, from establishing a “rabbi trust” or other vehicle in
connection with the operation of this Plan, provided that no such action shall cause the Plan to fail to be an unfunded plan designed to provide deferred compensation benefits for Non-Employee Directors within the meaning of Title I of ERISA. 

7.3 No Guarantee of Benefits. Nothing contained in the Plan shall constitute a guaranty by the Company or any other person or entity
that the assets of the Company will be sufficient to pay any benefit hereunder. 
 7.4 No Creation of Employee Rights; Plan is Not A
Contract of Employment. Participation in the Plan shall not be construed to give or deem any Participant to be an employee of the Company. This Plan shall not constitute a contract of employment between the Company and any Participant. 

7.5 Non-Alienation Provision. No interest of any person or entity in, or right to receive a benefit or distribution under, the Plan
shall be subject in any manner to sale, transfer, anticipation, assignment, pledge, attachment, garnishment, or other alienation or encumbrance of any kind; nor may such interest or right to receive a distribution be taken, either voluntarily or

  
 8 

 
involuntarily for the satisfaction of the debts of, or other obligations or claims against, such person or entity, including claims for alimony, support, separate maintenance and claims in
bankruptcy proceedings. 
 7.6 Applicable Law; Severability. The Plan shall be construed and administered under the laws of the State
of Delaware, except to the extent that such laws are preempted by ERISA, if applicable. In the event any provision of this Plan shall be determined to be illegal or invalid for any reason, the remaining portion(s) shall continue in full force and
effect as if such illegal or invalid provision had never been included herein. 
 7.7 No Impact on Other Benefits. Amounts accrued
under the Plan shall not be included in a Participant’s compensation for purposes of calculating benefits under any other plan, program or arrangement sponsored by the Company. 

7.8 Incapacity of Recipient. If a Participant or other beneficiary entitled to a distribution under the Plan is living under
guardianship or conservatorship, distributions payable under the terms of the Plan to such Participant or beneficiary shall be paid to his or her appointed guardian or conservator and such payment shall be a complete discharge of any liability of
the Company under the Plan. 
 7.9 Usage of Terms and Headings. Words in the masculine gender shall include the feminine and the
singular shall include the plural, and vice versa, unless qualified by the context. Any headings are included for ease of reference only, and are not to be construed to alter the terms of the Plan. 

*        *        * 

  
 9

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