Document:

EX-10.1

 Exhibit 10.1 

October 20, 2014 
 Mr. Michael W. Rayden 

c/o Tween Brands, Inc. 
 8323 Walton Parkway 

New Albany, OH 43054 
 Dear Mike: 

This retirement agreement and release (“Agreement”) will confirm the terms of your retirement with Tween Brands, Inc.
(“Justice”) and resignation from the Boards of Directors (the “Boards”) of Justice and its parent corporation, Ascena Retail Group, Inc. (“Ascena,” and collectively with its subsidiaries (including,
without limitation, Justice) the “Company”) on mutually agreeable terms as set forth below. You and the Company are collectively referred to herein as the “Parties.” Capitalized terms used herein without definition
have the meaning ascribed to such terms in your employment agreement with Justice, which became effective April 23, 2010 (the “Employment Agreement”). 

1. Employment Termination: Your employment will terminate with Justice on January 24, 2015 or such earlier date as mutually agreed to
between you and the Company (the date that your employment actually terminates will be referred to in this Agreement as your “Termination Date”). It is mutually understood by the Parties that the termination of your employment on
your Termination Date will constitute a “separation from service” (as such term is defined in Treasury Regulation Section 1.409A-1(h)). 
 2.
Resignation from the Boards and Other Positions: Effective as of your Termination Date, you hereby resign as an officer of Justice, a director of each of the Boards, an officer or director of any affiliate of the Company, from all
boards, committees, positions, trusteeships, fiduciary capacities and other offices with the Company and any of its affiliates, and from any positions or offices you hold with any other entities at the direction or request of the Company or any
affiliate of the Company. You agree to promptly execute and deliver any instruments or documents as the Company may reasonably request to evidence any such resignation. 

3. Transition Period: Provided that you sign and return this Agreement to the Company by November 7, 2014, and provided that you do not
revoke this Agreement during the applicable revocation period (as set forth in Section 25 of this Agreement), from the date of this Agreement through your Termination Date (the “Transition Period”), you agree that you will
continue to carry out your normal duties in a professional manner. If, during the Transition Period, the Company selects or appoints a successor to your officer position with Justice, you will assist in the transition of your responsibilities and
institutional knowledge to your successor. Subject to your continued service and cooperation during the Transition Period, you will be paid your salary through your Termination Date. The Company may, in its sole discretion, require you to perform
your duties remotely and not report to the office during any portion of the Transition Period other than to recover any personal effects at a time agreed upon by the Parties. 

4. Benefit Continuation: Except as otherwise provided in this Agreement or under applicable law, you will, during the Transition Period,
continue to be eligible for coverage under all Company benefit plans in which you are a participant as of the date of this Agreement (the “Company Plans”), in accordance with the terms and conditions of such Company Plans and
applicable law. 

 5. EBITDA Bonus: On the Delayed Payment Date, you will be paid the Termination EBITDA Bonus in a
lump sum based on actual results measured from the first day of the Performance Period through your Termination Date. Notwithstanding the foregoing, the Parties agree that, with respect to each semi-annual period occurring from January 24, 2010
through July 26, 2014 (i.e., the last day of the 2014 fiscal year), the portion of the Termination EBITDA Bonus to which you are entitled with respect to all such semi-annual periods is $35,939,000. Such amount shall be subject to
adjustment based on any incremental or decremental EBITDA performance for the semi-annual period occurring from July 27, 2014 through January 24, 2015, which shall be pro-rated if your Termination Date occurs before January 24, 2015
and, in all cases, shall be based on actual results as determined by the Compensation Committee of the Board of Directors of Ascena. 
 6. Rabbi
Trust: On your Termination Date, the Company will deposit the Severance Payment (i.e., $9,106,365) into a “rabbi trust” (the “Trust”) established and maintained in accordance with Section 13(b)(2) of
the Employment Agreement, solely to the extent permitted by Section 409A of the Internal Revenue Code of 1986, as amended. The Severance Payment will remain in the Trust until the Delayed Payment Date. 

7. Severance: Provided that you sign and return to the Company the Supplemental Release attached to this Agreement, and do not revoke it during
the applicable revocation period (as set forth in the Supplemental Release), the Company will pay to you: 
  

	 	1)	a lump sum payment in a gross amount equal to (i) the Severance Payment, plus (ii) any earnings attributable to the investment of the Severance Payment during the Delay Period while the Severance Payment is
held in the Trust, plus (iii) an amount equal to the positive difference, if any, between $400,000 and the amount under (ii) (such lump sum payment, the “Aggregate Severance Payment”), which Aggregate Severance Payment
shall be made on the Delayed Payment Date; and 

  

	 	2)	a lump sum that is equivalent to the amount that you would have been eligible to receive under the Ascena Retail Group, Inc. Executive 162(m) Bonus Plan (the “Bonus Plan”) for the Fall 2015 semi-annual
period if you had remained employed with the Company on the date of the Bonus Plan payments (the “Bonus Payment”), which Bonus Payment will be made to you at the same time that payments to active participants in the Bonus Plan are
made. 

 You acknowledge and agree that the Accrued Amounts, the Termination EBITDA Bonus, the Aggregate Severance Payment and
the Bonus Payment (collectively, the “Separation Payments”) are the only payments and benefits payable or that the Company will provide to you upon your separation of service with the Company and that you will not be entitled to any
other amounts or benefits in excess of the Separation Payments upon your separation of service with the Company. You understand and agree that absent the release contained in this Agreement and the Supplemental Release, you would not otherwise be
entitled to the Aggregate Severance Payment or the Bonus Payment. For the avoidance of doubt, you will not be eligible to receive any payments under Ascena’s 2015, 2016 and 2017 Long-Term Incentive Plans. You will not be required to mitigate
the amount of any Separation Payments by seeking other employment or otherwise and no Separation Payment will be offset or reduced by the amount of any compensation or benefits provided to you in any subsequent employment. Section 21 (Code
Section 409A) of the Employment Agreement shall apply to all payments under this Agreement and is incorporated by reference herein. 
 8.
Withholding on Payments: Taxes, applicable withholding and authorized or required deductions will be deducted from all payments to you, including without limitation, the Separation Payments. 

  
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 9. COBRA: Following your Termination Date, you may elect to continue medical/hospitalization and
dental insurance coverage, as applicable, at your own expense pursuant to a federal law known as COBRA. You will receive, under separate cover, information regarding continuing medical/hospitalization and dental insurance coverage pursuant to COBRA.

 10. Equity Awards: Any outstanding equity awards granted to you under the Ascena Retail Group, Inc. 2010 Stock Incentive Plan (the
“Stock Incentive Plan”), including without limitation, any stock options, shares of restricted stock or restricted stock units (“RSUs”), may vest and, if applicable, will be exercisable as provided under the terms of the
Stock Incentive Plan and the terms of the specific grants made to you. Without limiting the foregoing, because you have achieved the “Total Years Test”, as of your Termination Date: (i) any unvested stock options that you hold as of
your Termination Date will continue to vest in accordance with the applicable vesting schedule and each of your stock options will remain exercisable for a period of one year following the final vesting date of the applicable stock option award, but
not longer than the original term of such stock option; and (ii) any RSUs outstanding on your Termination Date will become immediately vested and you will receive one share of Ascena common stock, par value $0.01 per share, for each vested RSU,
in each case, subject to and in accordance with the Stock Incentive Plan and applicable award agreements. 
 11. Unemployment Insurance: While
the Company will not oppose a claim by you for unemployment insurance benefits, you must understand that the State Department of Labor (“DOL”), not the Company, determines whether you are eligible to receive benefits and that you
cannot raise any claim against the Company because of information that is provided to the DOL. 
 12. References: You should direct all
reference inquiries to John Pershing, Executive Vice President, Human Resources. 
 13. Cooperation: After your Termination Date, you agree
that you will be available, upon reasonable notice, to respond to questions and provide assistance to the Company regarding any unfinished business, including but not limited to cooperating with the Company with respect to any litigation that may
arise relating to matters on which you worked during your employment. 
 14. General Release of All Claims: In exchange for the Company’s
payments of the Aggregate Severance Payment and the Bonus Payment and other consideration as set forth in this Agreement, you, for yourself and for your heirs, executors, administrators, trustees, legal representatives and assigns and all other
individuals and entities claiming through you, if any (hereinafter referred to collectively as “Releasors”), forever release and discharge the Company and each past, present and future subsidiary, division, affiliate and related business
entity of the Company and any of its or their predecessors, successors, assigns, assets, employee benefit plans (and the fiduciaries thereof) or funds and past, present and future officers, directors, fiduciaries, trustees, shareholders, employees
and agents of the Company, whether acting on behalf of the Company or in their individual capacities (hereinafter collectively referred to as “Releasees”) from any and all liabilities, actions, charges, causes of action, demands,
damages, or claims for relief, remuneration, sums of money, accounts or expenses of any kind whatsoever (“Claims”) that may legally be waived by private agreement, known or unknown, which you ever had, now have, or may have against
any of the Releasees, including but not limited to those related to your employment, your separation from employment or otherwise, from the beginning of time through the date that you sign this Agreement, except as otherwise specifically stated in
this Agreement. 
 You understand and agree that on behalf of the Releasors you are releasing the Releasees from any and all Claims of the Releasors against
the Releasees that may legally be waived by private agreement, including but not limited to Claims for breach of contract, personal injury, wages, benefits, defamation, wrongful discharge, and any and all Claims based on any oral or written
agreements or promises, 

  
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whether arising under statute, including, but not limited to, Claims arising under (i) the Employee Retirement Income Security Act of 1974, the Equal Pay Act, the Family and Medical Leave
Act, (ii) the New York State Labor Law; the New York State Whistleblower Statute; the New York Human Rights Law (N.Y. Exec. Law §290 et seq.); and the New York City Human Rights Law (N.Y.C. Admin. Code §8-107), (iii) Ohio Rev.
Code Ann. §4112.01 et seq. (prohibiting employment discrimination and retaliation); Ohio Rev. Code Ann. §4113.51 et seq. (prohibiting retaliation for reporting unlawful practices); Ohio Rev. Code Ann. §4123.90 (prohibiting retaliation
for asserting workers’ compensation claims); Ohio Rev. Code Ann. §4113.01 et seq. (wage payment law), (iv) New Jersey Law Against Discrimination (N.J.S.A. §§10:5-1 et seq.); New Jersey Family Leave Act (N.J.S.A.
§34:11B-1 et seq.); New Jersey Conscientious Employee Protection Act (N.J.S.A. §34:19-1 et seq.); New Jersey Worker Health and Safety Act (N.J.S.A. §34:6A-1 et seq.); New Jersey wage payment law (N.J.S.A. §34:11-1 et seq.); and
(v) any other federal, state, local or foreign laws or regulations, contract (express or implied), constitutional provision, common law, tort, public policy or otherwise, from the beginning of time through the date that you sign this Agreement.

 You understand and agree that on behalf of the Releasors you are also releasing the Releasees from any and all Claims of the Releasors against the
Releasees that may legally be waived by private agreement, including but not limited to Claims for retaliation, and Claims for discrimination or harassment in employment on the basis of race, color, creed, religion, age, national origin, alienage or
citizenship, gender, sexual orientation, disability, genetic information, marital status, veteran’s status and any other protected grounds, including, but not limited to, any and all rights and Claims you may have arising under Title VII of the
Civil Rights Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act of 1967, the New York State Human Rights Law, and any other federal, state, local or foreign laws or regulations, from the beginning of time
through the date that you sign this Agreement. 
 Notwithstanding the foregoing, nothing contained herein will constitute a release by you of: (i) any
of your rights to the receipt of the Separation Payments and the treatment of your equity awards under the Stock Incentive Plan as provided in Section 10; (ii) any Claims that cannot be waived by applicable law, or (iii) any of your
rights to indemnification pursuant to any corporate document of the Company, including, without limitation, the Indemnification Agreement entered into between you and the Company dated January 1, 2011 (the “Indemnification
Agreement”), or under any applicable directors’ and officers’ liability insurance policies of the Company. 
 15. No Claims
Filed: You agree and covenant not to file any suit, complaint, claim, grievance or demand for arbitration against any of the Releasees, either individually or as a member of a class in any class or collective action, in any court or other
forum with regard to any claim, demand, liability or obligation arising out of your service with the Company and/or separation from service. You further represent that no Claims are pending in any court or other forum relating directly or indirectly
to your employment with the Company and/or separation from service. You understand that nothing in this Agreement shall be construed to prohibit you from filing a charge with, or participating in any investigation or proceeding conducted by, the
National Labor Relations Board, Equal Employment Opportunity Commission, and/or any federal, state, local or foreign agency charged with the enforcement of any employment laws, although by signing this Agreement, you understand that you are waiving
your right to receive individual relief based on claims asserted in such a charge or complaint, except where such a waiver is prohibited. You understand that your release of Claims as contained in the Agreement does not extend to any rights you may
have under the Fair Labor Standards Act, and/or or under any laws governing the filing of claims for unemployment and/or workers’ compensation benefits. 

  
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 16. Covenants: You acknowledge and agree that you remain subject to the terms and conditions of
Section 14 (Executive Covenants) of the Employment Agreement (which section is incorporated herein by reference), you agree to abide by all of the terms and conditions of such section, and you agree that all of the terms and conditions of such
section will survive your employment termination, except that the Company agrees that the non-solicitation provision under Section 14(c) of the Employment Agreement shall not apply with respect to your current administrative assistant at
Justice. You further agree that for all purposes of such section, the term “Company” as used therein shall refer collectively to Ascena, Justice and each of their respective subsidiaries and affiliates. 

17. Nonadmission of Wrongdoing: By entering into this Agreement, neither you nor any of the Releasees admit any wrongdoing or violation of law.

 18. Changes to the Agreement: This Agreement may not be changed unless the changes are in writing and signed by you and the President and
CEO of Ascena. 
 19. Applicable Law; Consent to Jurisdiction: Subject to Section 18 (Arbitration) of the Employment Agreement, this
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Ohio without giving effect to conflict of law principles thereof. The parties hereby consent to the exclusive jurisdiction of the state courts of
the State of Ohio and venue in Franklin County, Ohio. 
 20. Supplemental Release: On or after, but not before, your Termination Date, you
must sign the attached Supplemental Release and return it to John Pershing, Executive Vice President of Human Resources, or his designee, Ascena Retail Group, Inc., 933 MacArthur Boulevard, Mahwah, NJ 07430. 

21. Severability: You agree that in the event that any provision of this Agreement is judicially declared to be invalid or unenforceable, only
such provision or provisions shall be invalid or unenforceable without invalidating or rendering unenforceable the remaining provisions hereof, which shall remain in full force and effect to the fullest extent permitted by law. 

22. Entire Agreement: This Agreement contains the entire agreement between you and the Company and supersedes and replaces any prior agreements
or understandings between you and the Company, whether written or oral, including but not limited to the Employment Agreement other than as expressly stated herein. Notwithstanding the foregoing, (i) the Employment Agreement shall remain in
full force and effect during the Transition Period and shall govern your employment with Justice during the Transition Period, including without limitation any termination of your employment with Justice prior to the Termination Date due to your
death or by Justice for Cause, in which event this Agreement shall be null and void and the terms and conditions of the Employment Agreement shall apply to such termination, and (ii) the Indemnification Agreement shall remain in full force and
effect in accordance with its terms and conditions. In the event that your employment is not terminated prior to your Termination Date, then upon your Termination Date the Employment Agreement shall be superseded by this Agreement and become null
and void except as expressly stated herein. 
 23. Waiver: By signing this Agreement, you acknowledge that: 

 

	 	1)	You have carefully read, and understand, this Agreement; 

  

	 	2)	You have been given at least twenty-one (21) days to consider your rights and obligations under this Agreement and to consult with an attorney and/or any other advisors of your choice before signing this Agreement,
and agree that changes to this Agreement, whether material or immaterial, do not restart the running of the twenty-one (21) day period; 

  
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	 	3)	By this paragraph of the Agreement, the Company advised you to consult with an attorney and/or any other advisors of your choice before signing this Agreement; 

 

	 	4)	You understand that this Agreement is legally binding and by signing it you give up certain rights; 

  

	 	5)	You have voluntarily chosen to enter into this Agreement and have not been forced or pressured in any way to sign it; 

  

	 	6)	You have not relied upon any representation, statement or omission made by any of the Company’s agents, attorneys or representatives with regard to the subject matter, basis or effect of this Agreement or
otherwise, other than those expressly stated in this Agreement; 

  

	 	7)	You knowingly and voluntarily release Releasees from any and all claims you may have, known or unknown, in exchange for the payments and other benefits you have obtained by signing, and acknowledge that these payments
and other benefits are in addition to any benefit you would have otherwise received if you did not sign this Agreement; and 

  

	 	8)	This Agreement does not waive any rights or claims that may arise after this Agreement is signed. 

 24.
Return of Signed Agreement: You should sign and return this signed Agreement to John Pershing, Executive Vice President of Human Resources, or his designee, Ascena Retail Group, Inc., 933 MacArthur Boulevard, Mahwah, NJ 07430, no later
than twenty-one (21) days after the date that you receive this Agreement. If you do not return the signed Agreement to Mr. Pershing or his designee by that date, this Agreement shall be deemed revoked, null, void and of no effect, and you
shall have no entitlement to pay, benefits or any consideration as set forth in this Agreement. 
 25. Effective Date and Revocation Period:
You have seven (7) days from the date you sign this Agreement to change your mind and revoke this Agreement. If you do not advise the Company in writing within seven (7) days that you have revoked this Agreement, this Agreement shall be
effective, enforceable and binding on all Parties on the eighth (8th) day after you sign it. If you change your mind and revoke this Agreement, you must send written notice of your decision to John Pershing, Executive Vice President of Human
Resources, or his designee, Ascena Retail Group, Inc., 933 MacArthur Boulevard, Mahwah, NJ 07430, so that he receives your revocation no later than the eighth (8th) day after you originally signed the Agreement. You should understand that the
Company will not be required to make the payments or provide the consideration set forth in this Agreement unless this Agreement becomes effective. 

[Signature Page Follows] 

  
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	Sincerely,
	
	Tween Brands, Inc.
		
	By:	 	 /s/ Gene L. Wexler

	Name:	 	Gene L. Wexler
	Title:	 	SVP, General Counsel
	
	Ascena Retail Group, Inc.
	(as successor to The Dress Barn, Inc.)
		
	By:	 	 /s/ David R. Jaffe

		 	David R. Jaffe, President and CEO

  

	
	ACCEPTED AND AGREED,
	
	 /s/ Michael W. Rayden

	 Michael W. Rayden

  
 7 

 SUPPLEMENTAL RELEASE 

In exchange for the payments and benefits described in the retirement agreement and release, dated October 20, 2014 (the “Agreement”,
terms not otherwise defined herein have the meanings assigned to them in the Agreement), between me, Tween Brands, Inc. (“Justice”) and Ascena Retail Group, Inc. (“Ascena”, and collectively with its subsidiaries,
including without limitation Justice, the “Company”), I for myself and for my heirs, executors, administrators, trustees, legal representatives and assigns and all other individuals and entities claiming through me, if any
(hereinafter referred to collectively as “Releasors”), forever release and discharge the Company and each past, present and future subsidiary, division, affiliate and related business entity of the Company and any of its or their
predecessors, successors, assigns, assets, employee benefit plans (and the fiduciaries thereof) or funds and past, present and future officers, directors, fiduciaries, trustees, shareholders, employees and agents of the Company, whether acting on
behalf of the Company or in their individual capacities (hereinafter collectively referred to as “Releasees”) from any and all liabilities, actions, charges, causes of action, demands, damages, or claims for relief, remuneration,
sums of money, accounts or expenses of any kind whatsoever (“Claims”) that may legally be waived by private agreement, known or unknown, which I ever had, now have, or may have against any of the Releasees, including but not limited
to those related to my employment, my separation from employment or otherwise, from the beginning of time through the date that I sign this Supplemental Release, except as otherwise specifically stated in the Agreement or this Supplemental Release.

 I understand and agree that on behalf of the Releasors I am releasing the Releasees from any and all Claims of the Releasors against the Releasees that
may legally be waived by private agreement, including but not limited to Claims for breach of contract, personal injury, wages, benefits, defamation, wrongful discharge, and any and all Claims based on any oral or written agreements or promises,
whether arising under statute, including, but not limited to, Claims arising under (i) the Employee Retirement Income Security Act of 1974, the Equal Pay Act, the Family and Medical Leave Act, (ii) the New York State Labor Law; the New
York State Whistleblower Statute; the New York Human Rights Law (N.Y. Exec. Law §290 et seq.); and the New York City Human Rights Law (N.Y.C. Admin. Code §8-107), (iii) Ohio Rev. Code Ann. §4112.01 et seq. (prohibiting employment
discrimination and retaliation); Ohio Rev. Code Ann. §4113.51 et seq. (prohibiting retaliation for reporting unlawful practices); Ohio Rev. Code Ann. §4123.90 (prohibiting retaliation for asserting workers’ compensation claims); Ohio
Rev. Code Ann. §4113.01 et seq. (wage payment law), (iv) New Jersey Law Against Discrimination (N.J.S.A. §§10:5-1 et seq.); New Jersey Family Leave Act (N.J.S.A. §34:11B-1 et seq.); New Jersey Conscientious Employee
Protection Act (N.J.S.A. §34:19-1 et seq.); New Jersey Worker Health and Safety Act (N.J.S.A. §34:6A-1 et seq.); New Jersey wage payment law (N.J.S.A. §34:11-1 et seq.); and (v) any other federal, state, local or foreign laws or
regulations, contract (express or implied), constitutional provision, common law, tort, public policy or otherwise, from the beginning of time through the date that I sign this Supplemental Release. 

I understand and agree that on behalf of the Releasors I am also releasing the Releasees from any and all Claims of the Releasors against the Releasees that
may legally be waived by private agreement, including but not limited to Claims for retaliation, and Claims for discrimination or harassment in employment on the basis of race, color, creed, religion, age, national origin, alienage or citizenship,
gender, sexual orientation, disability, genetic information, marital status, veteran’s status and any other protected grounds, including, but not limited to, any and all rights and Claims I may have arising under Title VII of the Civil Rights
Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act of 1967, the New York State Human Rights Law, and any other federal, state, local or foreign laws or regulations, from the beginning of time through the date
that you sign this Supplemental Release. 

  
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 Notwithstanding the foregoing, nothing contained herein will constitute a release by me of: (i) any of my
rights to the receipt of the Separation Payments and the treatment of my equity awards under the Stock Incentive Plan as provided in Section 10 of the Agreement; (ii) any Claims that cannot be waived by applicable law, or (iii) any of
my rights to indemnification pursuant to any corporate document of the Company including, without limitation, the Indemnification Agreement entered into between you and the Company dated January 1, 2011, or under any applicable directors’
and officers’ liability insurance policies of the Company. 
 I agree and covenant not to file any suit, complaint, claim, grievance or demand for
arbitration against any of the Releasees, either individually or as a member of a class in any class or collective action, in any court or other forum with regard to any claim, demand, liability or obligation arising out of my service with the
Company and/or separation from service. I further represent that no Claims are pending in any court or other forum relating directly or indirectly to my employment with the Company and/or separation from service. I understand that nothing in this
Agreement shall be construed to prohibit me from filing a charge with, or participating in any investigation or proceeding conducted by, the National Labor Relations Board, Equal Employment Opportunity Commission, and/or any federal, state, local or
foreign agency charged with the enforcement of any employment laws, although by signing this Agreement, I understand that I am waiving my right to receive individual relief based on claims asserted in such a charge or complaint, except where such a
waiver is prohibited. I understand that my release of Claims as contained in the Supplemental Release does not extend to any rights I may have under the Fair Labor Standards Act, and/or or under any laws governing the filing of claims for
unemployment and/or workers’ compensation benefits. 
 I understand that I have seven (7) days from the date I sign this Supplemental Release to
change my mind and revoke this Supplemental Release. I understand that if I do not advise the Company in writing within seven (7) days that I have revoked this Supplemental Release, this Supplemental Release shall be effective, enforceable and
binding on all Parties on the eighth (8th) day after I sign it. I further understand that if I change my mind and revoke this Supplemental Release, I must send written notice of my decision to John Pershing, Executive Vice President of Human
Resources, or his designee, Ascena Retail Group, Inc., 933 MacArthur Boulevard, Mahwah, NJ 07430, so that he receives my revocation no later than the seventh (7th) day after I originally signed this Supplemental Release. I understand that the
Company will not be required to make the Severance Payment or the Bonus Payment set forth in the Agreement unless the Agreement, including this Supplemental Release, becomes effective. 

 

					
	  

Michael W. Rayden
	  		  	  

Date

  
 9bBOOTH, INC.

 2014 STOCK OPTION PLAN

This 2014 Stock Option Plan (the "Plan") provides for the grant of options to acquire shares of common stock, U.S.$0.0001 par value (the "Common Stock"), of bBooth, Inc., a Nevada company (the "Company").  For the purposes of Eligible Employees (as defined below) who are subject to tax in the United States, stock options granted under this Plan that qualify under Section 422 of the United States Internal Revenue Code of 1986, as amended (the "Code"), are referred to in this Plan as "Incentive Stock Options".  Incentive Stock Options and stock options that do not qualify under Section 422 of the Code ("Non-Qualified Stock Options") and stock options granted to non-United States residents under this Plan are referred to collectively as "Options".

	1.	PURPOSE

1.1            The purpose of this Plan is to retain the services of valued key employees and consultants of the Company and such other persons as the Plan Administrator shall select in accordance with Section 3 below, and to encourage such persons to acquire a greater proprietary interest in the Company, thereby strengthening their incentive to achieve the objectives of the shareholders of the Company, and to serve as an aid and inducement in the hiring of new employees and to provide an equity incentive to consultants and other persons selected by the Plan Administrator.

1.2                          This Plan shall at all times be subject to all legal requirements relating to the administration of stock option plans, if any, under applicable United States federal and state securities laws, the Code, the rules of any applicable stock exchange or stock quotation system, and the rules of any foreign jurisdiction applicable to Options granted to residents therein (collectively, the "Applicable Laws").

	2.	ADMINISTRATION

2.1                          This Plan shall be administered initially by the Board of Directors of the Company (the "Board"), except that the Board may, in its discretion, establish a committee composed of two (2) or more members of the Board to administer the Plan, which committee (the "Committee") may be an executive, compensation or other committee, including a separate committee especially created for this purpose. The Board or, if applicable, the Committee is referred to herein as the "Plan Administrator".

2.2                          If and so long as the Common Stock is registered under Section 12(b) or 12(g) of the United States Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Board shall consider in selecting the Plan Administrator and the membership of any Committee, with respect to any persons subject or likely to become subject to Section 16 of the Exchange Act, the provisions regarding (a) "outside directors" as contemplated by Section 162(m) of the Code, and (b) "Non-Employee Directors" as contemplated by Rule 16b‐3 under the Exchange Act.

2.3                          The Committee shall have the powers and authority vested in the Board hereunder (including the power and authority to interpret any provision of the Plan or of any Option).  The members of any such Committee shall serve at the pleasure of the Board.  A majority of the members of the Committee shall constitute a quorum, and all actions of the Committee shall be taken by a majority of the members present.  Any action may be taken by a written instrument signed by all of the members of the Committee and any action so taken shall be fully effective as if it had been taken at a meeting.

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2.4                          The Board may at any time amend, suspend or terminate the Plan, subject to such shareholder approval as may be required by Applicable Laws, including the rules of an applicable stock exchange or other national market system, provided that:

		(a)	no Options may be granted during any suspension of the Plan or after termination of the Plan; and

		(b)	any amendment, suspension or termination of the Plan will not affect Options already granted, and such Options will remain in full force and effect as if the Plan had not been amended, suspended or terminated, unless mutually agreed otherwise between the Optionee (as defined below) and the Plan Administrator, which agreement will have to be in writing and signed by the Optionee and the Company.

2.5                          Subject to the provisions of this Plan, and with a view to effecting its purpose, the Plan Administrator shall have sole authority, in its absolute discretion, to:

		(a)	construe and interpret this Plan;

		(b)	define the terms used in the Plan;

		(c)	prescribe, amend and rescind the rules and regulations relating to this Plan;

		(d)	correct any defect, supply any omission or reconcile any inconsistency in this Plan;

		(e)	grant Options under this Plan;

		(f)	determine the individuals to whom Options shall be granted under this Plan and whether the Option is an Incentive Stock Option or a Non-Qualified Stock Option, or otherwise;

		(g)	determine the time or times at which Options shall be granted under this Plan;

		(h)	determine the number of shares of Common Stock subject to each Option, the exercise price of each Option, the duration of each Option and the times at which each Option shall become exercisable;

		(i)	determine all other terms and conditions of the Options; and

		(j)	make all other determinations and interpretations necessary and advisable for the administration of the Plan.

2.6                          All decisions, determinations and interpretations made by the Plan Administrator shall be binding and conclusive on all participants in the Plan and on their legal representatives, heirs and beneficiaries, subject to any contrary determination by the Board.

	3.	ELIGIBILITY

3.1                          Incentive Stock Options may be granted to any individual who, at the time the Option is granted, is an employee of the Company or any Related Company (as defined below) ("Eligible Employees") subject to tax in the United States.

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3.2                          Non-Qualified Stock Options may be granted to Eligible Employees, Consultants, and to such other persons who are not Eligible Employees as the Plan Administrator shall select, subject to any Applicable Laws.

3.3                          Options may be granted in substitution for outstanding options of another company in connection with the merger, consolidation, acquisition of property or stock or other reorganization between such other company and the Company or any subsidiary of the Company.  Options also may be granted in exchange for outstanding Options.

3.4                          Any person to whom an Option is granted under this Plan is referred to as an "Optionee".  Any person who is the owner of an Option is referred to as a "Holder".

3.5                          As used in this Plan, the term "Related Company" shall mean any company (other than the Company) that is a "Parent Company" of the Company or "Subsidiary Company" of the Company, as those terms are defined in Sections 424(e) and 424(f), respectively, of the Code (or any successor provisions) and the regulations thereunder (as amended from time to time).

	4.	STOCK

4.1                          The Plan Administrator is authorized to grant Options to acquire up to a total of [] shares of the Company's authorized but unissued, or reacquired, Common Stock.  The number of shares with respect to which Options may be granted hereunder is subject to adjustment as set forth in Section 5.1(m) hereof.  In the event that any outstanding Option expires or is terminated for any reason, the shares of Common Stock allocable to the unexercised portion of such Option may again be subject to an Option granted to the same Optionee or to a different person eligible under Section 3 of this Plan; provided however, that any cancelled Options will be counted against the maximum number of shares with respect to which Options may be granted to any particular person as set forth in Section 3 hereof.

	5.	TERMS AND CONDITIONS OF OPTIONS

5.1                          Each Option granted under this Plan shall be evidenced by a written agreement approved by the Plan Administrator (the "Agreement").  Agreements may contain such provisions, not inconsistent with this Plan, as the Plan Administrator in its discretion may deem advisable.  All Options also shall comply with the following requirements:

		(a)	Number of Shares and Type of Option

Each Agreement shall state the number of shares of Common Stock to which it pertains and, for Optionees subject to tax in the United States, whether the Option is intended to be an Incentive Stock Option or a Non-Qualified Stock Option, provided that:

		(i)	in the absence of action to the contrary by the Plan Administrator in connection with the grant of an Option, all Options shall be Non-Qualified Stock Options;

		(ii)	the aggregate fair market value (determined at the Date of Grant, as defined below) of the stock with respect to which Incentive Stock Options are exercisable for the first time by an Optionee subject to tax in the United States during any calendar year (granted under this Plan and all other Incentive Stock Option plans of the Company, a Related Company or a predecessor company) shall not exceed U.S.$100,000, or such other limit as may be prescribed by the Code as it may be amended from time to time (the "Annual Limit"); and

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		(iii)	any portion of an Option which exceeds the Annual Limit shall not be void but rather shall be a Non-Qualified Stock Option.

		(b)	Date of Grant

Each Agreement shall state the date the Plan Administrator has deemed to be the effective date of the Option for purposes of this Plan (the "Date of Grant").

		(c)	Option Price

Each Agreement shall state the price per share of Common Stock at which it is exercisable.  The Plan Administrator shall act in good faith to establish the exercise price in accordance with Applicable Laws; provided that:

		(i)	the per share exercise price for an Incentive Stock Option or any Option granted to a "covered employee" as such term is defined for purposes of Section 162(m) of the Code ("Covered Employee") shall not be less than the fair market value per share of the Common Stock at the Date of Grant as determined by the Plan Administrator in good faith;

		(ii)	with respect to Incentive Stock Options granted to greater-than-ten percent (>10%) shareholders of the Company (as determined with reference to Section 424(d) of the Code), the exercise price per share shall not be less than one hundred ten percent (110%) of the fair market value per share of the Common Stock at the Date of Grant as determined by the Plan Administrator in good faith;

		(iii)	Options granted in substitution for outstanding options of another company in connection with the merger, consolidation, acquisition of property or stock or other reorganization involving such other company and the Company or any subsidiary of the Company may be granted with an exercise price equal to the exercise price for the substituted option of the other company, subject to any adjustment consistent with the terms of the transaction pursuant to which the substitution is to occur; and

		(iv)	with respect to Non-Qualified Stock Options, the exercise price per share shall be determined by the Plan Administrator at the time the Option is granted.

		(d)	Duration of Options

At the time of the grant of the Option, the Plan Administrator shall designate, subject to paragraph 5.1(g) below, the expiration date of the Option, which date shall not be later than ten (10) years from the Date of Grant; provided, that the expiration date of any Incentive Stock Option granted to a greater-than-ten percent (>10%) shareholder of the Company (as determined with reference to Section 424(d) of the Code) shall not be later than five (5) years from the Date of Grant.  In the absence of action to the contrary by the Plan Administrator in connection with the grant of a particular Option, and except in the case of Incentive Stock Options as described above, all Options granted under this Plan shall expire five (5) years from the Date of Grant.

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		(e)	Vesting Schedule

No Option shall be exercisable until it has vested.  The vesting schedule for each Option shall be specified by the Plan Administrator at the time of grant of the Option prior to the provision of services with respect to which such Option is granted; provided that if no vesting schedule is specified at the time of grant, the Option shall vest as follows:

		(i)	on the first anniversary of the Date of Grant, the Option shall vest and shall become exercisable with respect to 25% of the Common Stock to which it pertains;

		(ii)	on the second anniversary of the Date of Grant, the Option shall vest and shall become exercisable with respect to an additional 25% of the Common Stock to which it pertains;

		(iii)	on the third anniversary of the Date of Grant, the Option shall vest and shall become exercisable with respect to an additional 25% of the Common Stock to which it pertains; and

		(iv)	on the fourth anniversary of the Date of Grant, the Option shall vest and shall become exercisable with respect to balance of the Common Stock to which it pertains.

The Plan Administrator may specify a vesting schedule for all or any portion of an Option based on the achievement of performance objectives established in advance of the commencement by the Optionee of services related to the achievement of the performance objectives.  Performance objectives shall be expressed in terms of one or more of the following:  return on equity, return on assets, share price, market share, sales, earnings per share, costs, net earnings, net worth, inventories, cash and cash equivalents, gross margin or the Company's performance relative to its internal business plan, or such other terms as determined and directed by the Board.  Performance objectives may be in respect of the performance of the Company as a whole (whether on a consolidated or unconsolidated basis), a Related Company, or a subdivision, operating unit, product or product line of either of the foregoing.  Performance objectives may be absolute or relative and may be expressed in terms of a progression or a range.  An Option that is exercisable (in full or in part) upon the achievement of one or more performance objectives may be exercised only following written notice to the Optionee and the Company by the Plan Administrator that the performance objective has been achieved.

		(f)	Acceleration of Vesting

The vesting of one or more outstanding Options may be accelerated by the Plan Administrator at such times and in such amounts as it shall determine in its sole discretion.  The vesting of Options also shall be accelerated under the circumstances described in Section 5.1(m) below.

		(g)	Term of Option

		(i)	Options that have vested as specified by the Plan Administrator or in accordance with this Plan, shall terminate, to the extent not previously exercised, upon the occurrence of the first of the following events:

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		A.	the expiration of the Option, as designated by the Plan Administrator in accordance with Section 5.1(d) above;

		B.	the date of an Optionee's termination of employment or contractual relationship with the Company or any Related Company for cause (as determined in the sole discretion of the Plan Administrator);

		C.	the expiration of three (3) months from the date of an Optionee's termination of employment or contractual relationship with the Company or any Related Company for any reason whatsoever other than cause, death or Disability (as defined below); or

		D.	the expiration of one year (1) from termination of an Optionee's employment or contractual relationship by reason of death or Disability (as defined below).

		(ii)	Upon the death of an Optionee, any vested Options held by the Optionee shall be exercisable only by the person or persons to whom such Optionee's rights under such Option shall pass by the Optionee's will or by the laws of descent and distribution of the Optionee's domicile at the time of death and only until such Options terminate as provided above.

		(iii)	For purposes of the Plan, unless otherwise defined in the Agreement, "Disability" shall mean medically determinable physical or mental impairment which has lasted or can be expected to last for a continuous period of not less than six (6) months or that can be expected to result in death.  The Plan Administrator shall determine whether an Optionee has incurred a Disability on the basis of medical evidence acceptable to the Plan Administrator.  Upon making a determination of Disability, the Plan Administrator shall, for purposes of the Plan, determine the date of an Optionee's termination of employment or contractual relationship.

		(iv)	Unless accelerated in accordance with Section 5.1(f) above, unvested Options shall terminate immediately upon the Optionee resigning from or the Company terminating the Optionee's employment or contractual relationship with the Company or any Related Company for any reason whatsoever, including death or Disability.

		(v)	For purposes of this Plan, transfer of employment between or among the Company and/or any Related Company shall not be deemed to constitute a termination of employment with the Company or any Related Company.  For purposes of this subsection, employment shall be deemed to continue while the Optionee is on military leave, sick leave or other bona fide leave of absence (as determined by the Plan Administrator). The foregoing notwithstanding, employment shall not be deemed to continue beyond the first ninety (90) days of such leave, unless the Optionee's re-employment rights are guaranteed by statute or by contract.

		(h)	Exercise of Options

		(i)	Options shall be exercisable, in full or in part, at any time after vesting, until termination.  If less than all of the shares included in the vested portion of any Option are purchased, the remainder may be purchased at any subsequent time prior to the expiration of the Option term.  No portion of any Option for less than fifty (50) shares (as adjusted pursuant to Section 5.1(m) below) may be exercised; provided, that if the vested portion of any Option is less than fifty (50) shares, it may be exercised with respect to all shares for which it is vested.  Only whole shares may be issued pursuant to an Option, and to the extent that an Option covers less than one (1) share, it is unexercisable.

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		(ii)	Options or portions thereof may be exercised by giving written notice to the Company, which notice shall specify the number of shares to be purchased, and be accompanied by payment in the amount of the aggregate exercise price for the Common Stock so purchased, which payment shall be in the form specified in Section 5.1(i) below.  The Company shall not be obligated to issue, transfer or deliver a certificate of Common Stock to the Holder of any Option, until provision has been made by the Holder, to the satisfaction of the Company, for the payment of the aggregate exercise price for all shares for which the Option shall have been exercised and for satisfaction of any tax withholding obligations associated with such exercise.

		(iii)	During the lifetime of an Optionee, Options are exercisable only by the Optionee or in the case of a Non-Qualified Stock Option, transferee who takes title to such Option in the manner permitted by subsection 5.1(k) hereof.

		(i)	Payment upon Exercise of Option

Upon the exercise of any Option, the aggregate exercise price shall be paid to the Company in cash or by certified or cashier's check.  In addition, if pre-approved in writing by the Plan Administrator who may arbitrarily withhold consent, the Holder may pay for all or any portion of the aggregate exercise price by complying with one or more of the following alternatives:

		(i)	by delivering to the Company shares of Common Stock previously held by such Holder, or by the Company withholding shares of Common Stock otherwise deliverable pursuant to exercise of the Option, which shares of Common Stock received or withheld shall have a fair market value at the date of exercise (as determined by the Plan Administrator) equal to the aggregate exercise price to be paid by the Optionee upon such exercise; or

		(ii)	by complying with any other payment mechanism approved by the Plan Administrator at the time of exercise.

		(j)	No Rights as a Shareholder

A Holder shall have no rights as a shareholder with respect to any shares covered by an Option until such Holder becomes a record holder of such shares, irrespective of whether such Holder has given notice of exercise.  Subject to the provisions of Section 5.1(m) hereof, no rights shall accrue to a Holder and no adjustments shall be made on account of dividends (ordinary or extraordinary, whether in cash, securities or other property) or distributions or other rights declared on, or created in, the Common Stock for which the record date is prior to the date the Holder becomes a record holder of the shares of Common Stock covered by the Option, irrespective of whether such Holder has given notice of exercise.

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		(k)	Transfer of Option

		(i)	Options granted under this Plan and the rights and privileges conferred by this Plan may not be transferred, assigned, pledged or hypothecated in any manner (whether by operation of law or otherwise) other than by will or by applicable laws of descent and distribution or pursuant to a qualified domestic relations order, and shall not be subject to execution, attachment or similar process; provided however that, subject to applicable laws:

		A.	for Incentive Stock Options, any Agreement may provide or be amended to provide that an Option to which it relates is transferable without payment of consideration to immediate family members of the Optionee or to trusts or partnerships or limited liability companies established exclusively for the benefit of the Optionee and the Optionee's immediate family members; or

		B.	for Non-Qualified Stock Options, the Optionee's heirs or administrators may exercise any portion of the outstanding Options within one year of the Optionee's death.

		(ii)	Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of any Option or of any right or privilege conferred by this Plan contrary to the provisions hereof, or upon the sale, levy or any attachment or similar process upon the rights and privileges conferred by this Plan, such Option shall thereupon terminate and become null and void.

		(l)	Securities Regulation and Tax Withholding

		(i)	Shares shall not be issued with respect to an Option unless the exercise of such Option and the issuance and delivery of such shares shall comply with all Applicable Laws.  The inability of the Company to obtain from any regulatory body the authority deemed by the Company to be necessary for the lawful issuance and sale of any Options or shares under this Plan, or the unavailability of an exemption from registration for the issuance and sale of any shares under this Plan, shall relieve the Company of any liability with respect to the non-issuance or sale of such Options or shares.

		(ii)	As a condition to the exercise of an Option, the Plan Administrator may require the Holder to represent and warrant in writing at the time of such exercise that the shares are being purchased only for investment and without any then-present intention to sell or distribute such shares.  At the option of the Plan Administrator, a stop-transfer order against such shares may be placed on the stock books and records of the Company, and a legend indicating that the stock may not be pledged, sold or otherwise transferred unless an opinion of counsel is provided stating that such transfer is not in violation of any applicable law or regulation, may be stamped on the certificates representing such shares in order to assure an exemption from registration.  The Plan Administrator also may require such other documentation as may from time to time be necessary to comply with federal or state securities laws.  THE COMPANY HAS NO OBLIGATION TO UNDERTAKE REGISTRATION OF OPTIONS OR THE SHARES OF STOCK ISSUABLE UPON THE EXERCISE OF OPTIONS.

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		(iii)	The Holder shall pay to the Company by wire transfer, certified or cashier's check, promptly upon exercise of an Option or, if later, the date that the amount of such obligations becomes determinable, all applicable federal, state, local and foreign withholding taxes that the Plan Administrator, in its discretion, determines to result upon exercise of an Option or from a transfer or other disposition of shares of Common Stock acquired upon exercise of an Option or otherwise related to an Option or shares of Common Stock acquired in connection with an Option.  Upon approval of the Plan Administrator, a Holder may satisfy such obligation by complying with one or more of the following alternatives selected by the Plan Administrator:

		A.	by delivering to the Company shares of Common Stock previously held by such Holder or by the Company withholding shares of Common Stock otherwise deliverable pursuant to the exercise of the Option, which shares of Common Stock received or withheld shall have a fair market value at the date of exercise (as determined by the Plan Administrator) equal to any withholding tax obligations arising as a result of such exercise, transfer or other disposition; or

		B.	by complying with any other payment mechanism approved by the Plan Administrator from time to time.

		(iv)	The issuance, transfer or delivery of certificates of Common Stock pursuant to the exercise of Options may be delayed, at the discretion of the Plan Administrator, until the Plan Administrator is satisfied that the applicable requirements of the federal and state securities laws and the withholding provisions under Applicable Laws have been met and that the Holder has paid or otherwise satisfied any withholding tax obligation as described in paragraph 5.1(l)(iii) above.

		(m)	Stock Dividend or Reorganization

		(i)	If: (1) the Company shall at any time be involved in a transaction described in Section 424(a) of the Code (or any successor provision) or any "corporate transaction" described in the regulations thereunder; (2) the Company shall declare a dividend payable in, or shall subdivide, reclassify, reorganize, or combine, its Common Stock; or (3) any other event with substantially the same effect shall occur, the Plan Administrator shall, subject to applicable law, with respect to each outstanding Option, proportionately adjust the number of shares of Common Stock subject to such Option and/or the exercise price per share so as to preserve the rights of the Holder substantially proportionate to the rights of the Holder prior to such event, and to the extent that such action shall include an increase or decrease in the number of shares of Common Stock subject to outstanding Options, the number of shares available under Section 4 of this Plan and the exercise price for such Options shall automatically be increased or decreased, as the case may be, proportionately, without further action on the part of the Plan Administrator, the Company, the Company's shareholders, or any Holder, so as to preserve the proportional rights of the Holder.

		(ii)	In the event that the presently authorized capital stock of the Company is changed into the same number of shares with a different par value, or without par value, the stock resulting from any such change shall be deemed to be Common Stock within the meaning of the Plan, and each Option shall apply to the same number of shares of such new stock as it applied to old shares immediately prior to such change.

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		(iii)	If the Company shall at any time declare an extraordinary dividend with respect to the Common Stock, whether payable in cash or other property, the Plan Administrator may, subject to applicable law, in the exercise of its sole discretion and with respect to each outstanding Option, proportionately adjust the number of shares of Common Stock subject to such Option and/or adjust the exercise price per share so as to preserve the rights of the Holder substantially proportionate to the rights of the Holder prior to such event, and to the extent that such action shall include an increase or decrease in the number of shares of Common Stock subject to outstanding Options, the number of shares available under Section 4 of this Plan shall automatically be increased or decreased, as the case may be, proportionately, without further action on the part of the Plan Administrator, the Company, the Company's shareholders, or any Holder.

		(iv)	The foregoing adjustments in the shares subject to Options shall be made by the Plan Administrator, or by any successor administrator of this Plan, or by the applicable terms of any assumption or substitution document.

		(v)	The grant of an Option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, to merge, consolidate or dissolve, to liquidate or to sell or transfer all or any part of its business or assets.

	6.	EFFECTIVE DATE; SHAREHOLDER APPROVAL

6.1                          Incentive Stock Options may be granted by the Plan Administrator from time to time on or after the date on which this Plan is adopted (the "Effective Date") through the day immediately preceding the tenth (10th) anniversary of the Effective Date.

6.2                          Non-Qualified Stock Options may be granted by the Plan Administrator on or after the Effective Date and until this Plan is terminated by the Board in its sole discretion.

6.3                          Termination of this Plan shall not terminate any Option granted prior to such termination.

6.4                          The approval of Disinterested Shareholders will be obtained for any reduction in the exercise price of Options if the Optionee is an Insider of the Company at the time of the proposed amendment.  The terms "Disinterested Shareholder" and "Insider" shall have the meanings as defined for those terms in the Applicable Laws.

6.5                          Any Options granted by the Plan Administrator prior to the approval of this Plan by the shareholders of the Company shall be granted subject to ratification of this Plan by the shareholders of the Company within twelve (12) months before or after the Effective Date.  If such shareholder ratification is sought and not obtained, all Options granted prior thereto and thereafter shall be considered Non-Qualified Stock Options and any Options granted to Covered Employees will not be eligible for the exclusion set forth in Section 162(m) of the Code with respect to the deductibility by the Company of certain compensation.  In addition, any such Options will remain unvested unless and until shareholder approval is obtained.

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	7.	NO OBLIGATIONS TO EXERCISE OPTION

7.1                          The grant of an Option shall impose no obligation upon the Optionee to exercise such Option.

	8.	NO RIGHT TO OPTIONS OR TO EMPLOYMENT

8.1                          Whether or not any Options are to be granted under this Plan shall be exclusively within the discretion of the Plan Administrator, and nothing contained in this Plan shall be construed as giving any person any right to participate under this Plan.

8.2                          The grant of an Option shall in no way constitute any form of agreement or understanding binding on the Company or any Related Company, express or implied, that the Company or any Related Company will employ or contract with an Optionee for any length of time, nor shall it interfere in any way with the Company's or, where applicable, a Related Company's right to terminate Optionee's employment at any time, which right is hereby reserved.

	9.	APPLICATION OF FUNDS

9.1                          The proceeds received by the Company from the sale of Common Stock issued upon the exercise of Options shall be used for general corporate purposes, unless otherwise directed by the Board.

	10.	INDEMNIFICATION OF PLAN ADMINISTRATOR

10.1                          In addition to all other rights of indemnification they may have as members of the Board, members of the Plan Administrator shall be indemnified by the Company for all reasonable expenses and liabilities of any type or nature, including attorneys' fees, incurred in connection with any action, suit or proceeding to which they or any of them are a party by reason of, or in connection with, this Plan or any Option granted under this Plan, and against all amounts paid by them in settlement thereof (provided that such settlement is approved by independent legal counsel selected by the Company), except to the extent that such expenses relate to matters for which it is adjudged that such Plan Administrator member is liable for willful misconduct; provided, that within fifteen (15) days after the institution of any such action, suit or proceeding, the Plan Administrator member involved therein shall, in writing, notify the Company of such action, suit or proceeding, so that the Company may have the opportunity to make appropriate arrangements to prosecute or defend the same.

	11.	AMENDMENT OF PLAN

11.1                          The Plan Administrator may, subject to Applicable Laws, at any time, modify, amend or terminate this Plan or modify or amend Options granted under this Plan, including, without limitation, such modifications or amendments as are necessary to maintain compliance with applicable statutes, rules or regulations; provided however that:

		(a)	no amendment with respect to an outstanding Option which has the effect of reducing the benefits afforded to the Holder thereof shall be made over the objection of such Holder;

		(b)	the events triggering acceleration of vesting of outstanding Options may be modified, expanded or eliminated without the consent of Holders;

		(c)	
the Plan Administrator may condition the effectiveness of any such amendment on the receipt of shareholder approval at such time and in such manner as the Plan Administrator may consider necessary for the Company to comply with or to avail the Company and/or the Optionees of the benefits of any securities, tax, market listing or other administrative or regulatory requirement; and

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		(d)	the Plan Administrator may not increase the number of shares available for issuance on the exercise of Incentive Stock Options without shareholder approval.

11.2                          Without limiting the generality of Section 11.1 hereof, the Plan Administrator may modify grants to persons who are eligible to receive Options under this Plan who are foreign nationals or employed outside the United States to recognize differences in local law, tax policy or custom.

Effective Date: October 16, 2014

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