Document:

exhibit42descriptionofca

    Exhibit 4.2  DESCRIPTION OF CAPITAL STOCK     Our Certificate of Incorporation authorizes us to issue 300,000,000 shares of common stock, par value $0.0001  per share.      The following statements are summaries only of provisions of our authorized capital stock and are qualified in  their entirety by our Certificate of Incorporation. You should review these documents for a description of the rights,  restrictions and obligations relating to our capital stock. A copy of our Certificate of Incorporation may be obtained  from us upon written request.     Common Stock     Voting. The holders of our common stock are entitled to one vote for each share held of record on all matters on  which the holders are entitled to vote (or consent to).     Dividends. The holders of our common stock are entitled to receive, ratably, dividends only if, when and as  declared by our board of directors out of funds legally available therefor and after provision is made for each class of  capital stock having preference over the common stock. As of the date of this Annual Report on Form 10-K, the  JPMorgan facility only permits payments of dividends if certain payment conditions are met, including an excess  availability test and a fixed charge coverage test.     Liquidation Rights. In the event of our liquidation, dissolution or winding-up, the holders of our common stock  may be entitled to share, ratably, in all assets remaining available for distribution after payment of all liabilities and  after provision is made for each class of capital stock having preference over the common stock.     Preemptive and Similar Rights. The holders of our common stock have no preemptive or similar rights.      Forum Selection     Our Certificate of Incorporation and our Bylaws provide that the Court of Chancery of the State of Delaware is  the exclusive forum for any derivative action or proceeding brought on our behalf; any action asserting a breach of  fiduciary duty; any action asserting a claim against us arising pursuant to the Delaware General Corporation Law, our  Certificate of Incorporation or our Bylaws; or any action asserting a claim against us that is governed by the internal  affairs doctrine. Notwithstanding the foregoing, the exclusive forum provision does not apply to suits brought to  enforce any liability or duty created by the Exchange Act, the Securities Act or any other claim for which the federal  courts have exclusive jurisdiction. Unless we consent in writing to the selection of an alternative forum, the federal  district courts of the United States of America shall, to the fullest extent permitted by applicable law, be the sole and  exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. The  choice of forum provision may limit a stockholder's ability to bring a claim in a judicial forum that it finds favorable  for disputes with us or our directors, officers or other employees, which may discourage such lawsuits against us and  our directors, officers and other employees.     Anti-Takeover Provisions     Our Certificate of Incorporation and Bylaws contain provisions that may delay, defer or discourage another party  from acquiring control of us. We expect that these provisions, which are summarized below, will discourage coercive  takeover practices or inadequate takeover bids. These provisions are also designed to encourage persons seeking to  acquire control of us to first negotiate with our board of directors, which we believe may result in an improvement of  the terms of any such acquisition in favor of our stockholders. However, they also give our board of directors the  power to discourage acquisitions that some stockholders may favor.     Authorized but unissued shares. The authorized but unissued shares of our common stock and our preferred  stock are available for future issuance without stockholder approval, subject to the requirements of any national  securities exchange on which our common stock is listed, should we so qualify for listing. These additional shares  may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of  

 

    authorized but unissued and unreserved common stock and preferred stock could make more difficult or discourage  an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.     Stockholder action by written consent. Our Certificate of Incorporation and Bylaws provide that no action shall  be taken by our stockholders except at an annual or special meeting of our stockholders called in accordance with our  Bylaws and no action shall be taken by our stockholders by written consent, subject to the rights of any series of  preferred stock permitting the holders of such series of preferred stock to act by written consent; provided, however,  that, for so long as S5 Enterprises Inc. (formerly 2118769 Ontario Inc.), Fruzer Inc., Indulge Inc. (formerly 2208742  Ontario Inc.), Jackpot Inc. (formerly 2208744 Ontario Inc.), HF I Investments LLC, HF II Investments LLC, HF III  Investments LLC, Hawthorn LP, Hydrofarm Co-Investment Fund, LP, Arch Street Holdings I, LLC and Payne Capital  Corp., together with their respective affiliates or successors, collectively beneficially own (directly or indirectly), in  the aggregate, at least fifty percent (50%) of our then issued and outstanding common stock, any action required or  permitted to be taken by our stockholders at an annual meeting or special meeting of stockholders called in accordance  with our Bylaws may be taken by our stockholders by written consent.     Special meetings of stockholders. Our Certificate of Incorporation and Bylaws provide that, except as otherwise  required by law or provided by the resolution or resolutions adopted by our board of directors designating the rights,  powers and preferences of any series of preferred stock, special meetings of our stockholders may be called only by  (a) our board of directors pursuant to a resolution approved by a majority of the total number of our directors that we  would have if there were no vacancies or (b) the chair of our board of directors, and any power of our stockholders to  call a special meeting is specifically denied.     Advance notice requirements for stockholder proposals and director nominations. Our Bylaws provide for an  advance notice procedure for stockholder proposals to be brought before an annual meeting of stockholders, including  proposed nominations of candidates for election to our board of directors. In order for any matter to be “properly  brought” before a meeting, a stockholder must comply with advance notice and duration of ownership requirements  and provide us with certain information. Stockholders at an annual meeting may only consider proposals or  nominations specified in the notice of meeting or brought before the meeting by or at the direction of our board of  directors or by a qualified stockholder of record on the record date for the meeting, who is entitled to vote at the  meeting and who has delivered timely written notice in proper form to our secretary of the stockholder’s intention to  bring such business before the meeting. These provisions could have the effect of delaying stockholder actions that  are favored by the holders of a majority of our outstanding voting securities until the next stockholder meeting.     Amendment of Certificate of Incorporation or Bylaws. The Delaware General Corporation Law (“DGCL”)  provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter is required to  amend a corporation’s certificate of incorporation, unless a corporation’s certificate of incorporation requires a greater  percentage. Our Certificate of Incorporation provides that certain provisions of our Certificate of Incorporation  (namely, those provisions relating to (i) directors; (ii) limitation of director liability, indemnification and advancement  of expenses and renunciation of corporate opportunities; (iii) meetings of stockholders; and (iv) amendments to our  Certificate of Incorporation and Bylaws) may not be altered, amended or repealed in any respect (including by merger,  consolidation or otherwise), nor may any provision inconsistent therewith be adopted, unless such alteration,  amendment, repeal or adoption is approved by the affirmative vote of the holders of at least sixty-six and two-thirds  percent (66 2∕3%) of the voting power of all of our then-outstanding shares then entitled to vote generally in an election  of directors, voting together as a single class. Our Certificate of Incorporation and Bylaws also provide that approval  of stockholders holding sixty-six and two-thirds percent (66 2∕3%) of the voting power of all of our then- outstanding  shares entitled to vote generally in an election of directors, voting together as a single class, is required for stockholders  to make, alter, amend, or repeal any provision of our Bylaws. Our board of directors retains the right to alter, amend  or repeal our Bylaws.     Classified Board of Directors. Our amended and restated certificate of incorporation, upon the consummation of  this offering, provides for a classified board of directors consisting of three classes of approximately equal size, each  serving staggered three-year terms. Only the directors in one class will be subject to election by a plurality of the votes  cast at each annual meeting of stockholders, with the directors in the other classes continuing for the remainder of  their respective three-year terms. Stockholders do not have the ability to cumulate votes for the election of directors.     Limitations on Liability and Indemnification of Officers and Directors  

 

       Our Certificate of Incorporation and Bylaws provides indemnification for our directors and officers to the fullest  extent permitted by the DGCL. We have entered into indemnification agreements with each of our directors that may  be, in some cases, broader than the specific indemnification provisions contained under the DGCL. In addition, as  permitted by the DGCL, our Certificate of Incorporation and Bylaws includes provisions that eliminate the personal  liability of our directors for monetary damages resulting from breaches of certain fiduciary duties as a director. The  effect of this provision is to restrict our rights and the rights of our stockholders in derivative suits to recover monetary  damages against a director for breach of fiduciary duties as a director. These provisions may be held not to be  enforceable for violations of the federal securities laws of the United States.     Corporate Opportunity Doctrine     Delaware law permits corporations to adopt provisions renouncing any interest or expectancy in certain  opportunities that are presented to the corporation or its officers, directors or stockholders. Under our Certificate of  Incorporation, to the maximum extent permitted by the laws of the State of Delaware, (a) we have renounced all  interest and expectancy that we otherwise would be entitled to have in, and all rights to be offered an opportunity to  participate in, any business opportunity that from time to time may be presented to (i) any of our directors, (ii) any of  our stockholders, officers or agents, or (iii) any Affiliate (as defined in our Certificate of Incorporation) of any person  or entity identified in the preceding clause (i) or (ii), but in each case excluding any such person in its capacity as an  employee or director of us or our subsidiaries; (b) no stockholder and no director, in each case, that is not an employee  of us or our subsidiaries, has any duty to refrain from (x) engaging in a corporate opportunity in the same or similar  lines of business in we or our subsidiaries from time to time are engaged or propose to engage or (y) otherwise  competing, directly or indirectly, with us or any of our subsidiaries; and (c) if any stockholder or any director, in each  case, that is not an employee of us or our subsidiaries, acquires knowledge of a potential transaction or other business  opportunity which may be a corporate opportunity both for such stockholder or such director or any of their respective  affiliates, on the one hand, and for us or our subsidiaries, on the other hand, such stockholder or director has no duty  to communicate or offer such transaction or business opportunity to us or our subsidiaries and such stockholder or  director may take any and all such transactions or opportunities for itself or offer such transactions or opportunities to  any other person or entity. The preceding sentence shall not apply to any potential transaction or business opportunity  that is expressly offered to a director or employee of our or our subsidiaries, solely in his or her capacity as a director  or employee of us or our subsidiaries.     Furthermore, to the fullest extent permitted by the laws of the State of Delaware, no potential transaction or  business opportunity may be deemed to be a corporate opportunity of ours or our subsidiaries unless (a) we or our  subsidiaries would be permitted to undertake such transaction or opportunity in accordance with our Certificate of  Incorporation, (b) we or our subsidiaries at such time have sufficient financial resources to undertake such transaction  or opportunity, (c) we or our subsidiaries have an interest or expectancy in such transaction or opportunity and (d)  such transaction or opportunity would be in the same or similar line of business in which we or our subsidiaries are  then engaged or a line of business that is reasonably related to, or a reasonable extension of, such line of business.     Section 203 of the Delaware General Corporation Law     We are subject to the provisions of Section 203 of the Delaware General Corporation Law. In general, Section  203 prohibits a publicly-held Delaware corporation from engaging in a “business combination” with an “interested  stockholder” for a three-year period following the time that such stockholder becomes an interested stockholder, unless  the business combination is approved in a prescribed manner. A “business combination” includes, among other things,  a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder. An  “interested stockholder” is a person who, together with affiliates and associates, owns, or did own within three years  prior to the determination of interested stockholder status, 15% or more of the corporation’s voting stock. Under  Section 203, a business combination between a corporation and an interested stockholder is prohibited unless it  satisfies one of the following conditions:      • before the stockholder became interested, the board of directors approved either the business combination or the  transaction that resulted in the stockholder becoming an interested stockholder;     

 

      • upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the  interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the  transaction commenced, excluding for purposes of determining the voting stock outstanding, shares owned by  persons who are directors and also officers, and employee stock plans, in some instances; or      • at or after the time the stockholder became interested, the business combination was approved by the board of  directors of the corporation and authorized at an annual or special meeting of the stockholders by the affirmative  vote of at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder.     A Delaware corporation may “opt out” of these provisions with an express provision in its original certificate of  incorporation or an express provision in its amended and restated certificate of incorporation or by-laws resulting from  a stockholders’ amendment approved by at least a majority of the outstanding voting shares. We have not opted out  of these provisions. As a result, mergers or other takeover or change in control attempts of us may be discouraged or  prevented.     Transfer Agent and Registrar     The transfer agent and registrar of our common stock is Continental Stock Transfer & Trust Company. They are  located at 1 State Street, 30th Floor, New York, New York 10004. Their telephone number is (212) 509-4000.hydrofarm-formrsuagreeme

  Exhibit 10.6  Restricted Stock Unit No.________  HYDROFARM HOLDINGS GROUP, INC.  Restricted Stock Unit Award Grant Notice    Restricted Stock Unit Award Grant under the Company’s  2020 Employee, Director and Consultant Equity Incentive Plan    1. Name and Address of Participant:          2. Date of Grant of  Restricted Stock Unit Award:    3. Maximum Number of Shares underlying  Restricted Stock Unit Award:    4. Vesting of Award:  This Restricted Stock Unit Award shall vest as follows provided the  Participant is an Employee, director or Consultant of the Company or of an Affiliate on the  applicable vesting:  [Insert Vesting Schedule]  The Company and the Participant acknowledge receipt of this Restricted Stock Unit Award  Grant Notice and agree to the terms of the Restricted Stock Unit Agreement attached hereto and  incorporated by reference herein, the Company’s 2020 Employee, Director and Consultant Equity  Incentive Plan and the terms of this Restricted Stock Unit Award as set forth above.  HYDROFARM HOLDINGS GROUP,  INC.  By:   Name:   Title:      Participant 

 

    HYDROFARM HOLDINGS GROUP, INC.  RESTRICTED STOCK UNIT AGREEMENT –  INCORPORATED TERMS AND CONDITIONS  AGREEMENT (this “Agreement”) made as of the date of grant set forth in the Restricted  Stock Unit Award Grant Notice between Hydrofarm Holdings Group, Inc. (the “Company”), a  Delaware corporation, and the individual whose name appears on the Restricted Stock Unit Award  Grant Notice (the “Participant”).  WHEREAS, the Company has adopted the 2020 Employee, Director and Consultant  Equity Incentive Plan (the “Plan”), to promote the interests of the Company by providing an  incentive for Employees, directors and Consultants of the Company and its Affiliates;  WHEREAS, pursuant to the provisions of the Plan, the Company desires to grant to the  Participant restricted stock units (“RSUs”) related to the Company’s common stock, $0.0001 par  value per share (“Common Stock”), in accordance with the provisions of the Plan, all on the terms  and conditions hereinafter set forth; and  WHEREAS, the Company and the Participant understand and agree that any terms used  and not defined herein have the meanings ascribed to such terms in the Plan.  NOW, THEREFORE, in consideration of the promises and the mutual covenants contained  herein and for other good and valuable consideration, the receipt and sufficiency of which are  hereby acknowledged, the parties hereto hereby agree as follows:  1. Grant of Award.  The Company hereby grants to the Participant an award for the  number of RSUs set forth in the Restricted Stock Unit Award Grant Notice (the “Award”).  Each  RSU represents a contingent entitlement of the Participant to receive one share of Common Stock,  on the terms and conditions and subject to all the limitations set forth herein and in the Plan, which  is incorporated herein by reference.  The Participant acknowledges receipt of a copy of the Plan.  2. Vesting of Award.  (a) Subject to the terms and conditions set forth in this Agreement and the Plan,  the Award granted hereby shall vest as set forth in the Restricted Stock Unit Award Grant Notice  and is subject to the other terms and conditions of this Agreement and the Plan.  On each vesting  date set forth in the Restricted Stock Unit Award Grant Notice, the Participant shall be entitled to  receive such number of shares of Common Stock equivalent to the number of RSUs as set forth in  the Restricted Stock Unit Award Grant Notice provided that the Participant is employed or  providing service to the Company or an Affiliate on such vesting date.  Such shares of Common  Stock shall thereafter be delivered by the Company to the Participant within five days of the  applicable vesting date and in accordance with this Agreement and the Plan.  (b) Except as otherwise set forth in this Agreement, if the Participant ceases to  be employed or providing services for any reason by the Company or by an Affiliate (the  “Termination”) prior to a vesting date set forth in the Restricted Stock Unit Award Grant Notice,  

 

2  then as of the date on which the Participant’s employment or service terminates, all unvested RSUs  shall immediately be forfeited to the Company and this Agreement shall terminate and be of no  further force or effect.  3. Prohibitions on Transfer and Sale.  This Award (including any additional RSUs  received by the Participant as a result of stock dividends, stock splits or any other similar  transaction affecting the Company’s securities without receipt of consideration) shall not be  transferable by the Participant otherwise than (i) by will or by the laws of descent and distribution,  or (ii) pursuant to a qualified domestic relations order as defined by the Internal Revenue Code or  Title I of the Employee Retirement Income Security Act or the rules thereunder.  Except as  provided in the previous sentence, the shares of Common Stock to be issued pursuant to this  Agreement shall be issued, during the Participant’s lifetime, only to the Participant (or, in the event  of legal incapacity or incompetence, to the Participant’s guardian or representative).  This Award  shall not be assigned, pledged or hypothecated in any way (whether by operation of law or  otherwise) and shall not be subject to execution, attachment or similar process.  Any attempted  transfer, assignment, pledge, hypothecation or other disposition of this Award or of any rights  granted hereunder contrary to the provisions of this Section 3, or the levy of any attachment or  similar process upon this Award shall be null and void.  4. Adjustments.  The Plan contains provisions covering the treatment of RSUs and  shares of Common Stock in a number of contingencies such as stock splits.  Provisions in the Plan  for adjustment with respect to this Award and the related provisions with respect to successors to  the business of the Company are hereby made applicable hereunder and are incorporated herein  by reference.  5. Securities Law Compliance.  The Participant specifically acknowledges and agrees  that any sales of shares of Common Stock shall be made in accordance with the requirements of  the Securities Act of 1933, as amended.  The Company currently has an effective registration  statement on file with the Securities and Exchange Commission with respect to the Common Stock  to be granted hereunder.  The Company intends to maintain this registration statement but has no  obligation to do so.  If the registration statement ceases to be effective for any reason, Participant  will not be able to transfer or sell any of the shares of Common Stock issued to the Participant  pursuant to this Agreement unless exemptions from registration or filings under applicable  securities laws are available.  Furthermore, despite registration, applicable securities laws may  restrict the ability of the Participant to sell his or her Common Stock, including due to the  Participant’s affiliation with the Company.  The Company shall not be obligated to either issue the  Common Stock or permit the resale of any shares of Common Stock if such issuance or resale  would violate any applicable securities law, rule or regulation.  6. Rights as a Stockholder.  The Participant shall have no right as a stockholder,  including voting and dividend rights, with respect to the RSUs subject to this Agreement.  7. Incorporation of the Plan.  The Participant specifically understands and agrees that  the RSUs and the shares of Common Stock to be issued under the Plan will be issued to the  Participant pursuant to the Plan, a copy of which Plan the Participant acknowledges he or she has  read and understands and by which Plan he or she agrees to be bound.  The provisions of the Plan  are incorporated herein by reference.  

 

3  8. Tax Liability of the Participant and Payment of Taxes.  The Participant  acknowledges and agrees that any income or other taxes due from the Participant with respect to  this Award or the shares of Common Stock to be issued pursuant to this Agreement or otherwise  sold shall be the Participant’s responsibility.  Without limiting the foregoing, the Participant agrees  that if under applicable law the Participant will owe taxes at each vesting date on the portion of  the Award then vested the Company shall be entitled to immediate payment from the Participant  of the amount of any tax or other amounts required to be withheld by the Company by applicable  law or regulation. Any taxes or other amounts due shall be paid, at the option of the Administrator  as follows:  (a) through reducing the number of shares of Common Stock entitled to be  issued to the Participant on the applicable vesting date in an amount equal to the statutory minimum  of the Participant’s total tax and other withholding obligations due and payable by the Company.   Fractional shares will not be retained to satisfy any portion of the Company’s withholding  obligation.  Accordingly, the Participant agrees that in the event that the amount of withholding  required would result in a fraction of a share being owed, that amount will be satisfied by  withholding the fractional amount from the Participant’s paycheck;  (b) requiring the Participant to deposit with the Company an amount of cash  equal to the amount determined by the Company to be required to be withheld with respect to the  statutory minimum amount of the Participant’s total tax and other withholding obligations due and  payable by the Company or otherwise withholding from the Participant’s paycheck an amount  equal to such amounts due and payable by the Company; or  (c) if the Company believes that the sale of shares can be made in compliance  with applicable securities laws, authorizing, at a time when the Participant is not in possession of  material nonpublic information, the sale by the Participant on the applicable vesting date of such  number of shares of Common Stock as the Company instructs a registered broker to sell to satisfy  the Company’s withholding obligation, after deduction of the broker’s commission, and the broker  shall be required to remit to the Company the cash necessary in order for the Company to satisfy  its withholding obligation.  To the extent the proceeds of such sale exceed the Company’s  withholding obligation the Company agrees to pay such excess cash to the Participant as soon as  practicable.  In addition, if such sale is not sufficient to pay the Company’s withholding obligation  the Participant agrees to pay to the Company as soon as practicable, including through additional  payroll withholding, the amount of any withholding obligation that is not satisfied by the sale of  shares of Common Stock.  The Participant agrees to hold the Company and the broker harmless  from all costs, damages or expenses relating to any such sale.  The Participant acknowledges that  the Company and the broker are under no obligation to arrange for such sale at any particular price.   In connection with such sale of shares of Common Stock, the Participant shall execute any such  documents requested by the broker in order to effectuate the sale of shares of Common Stock and  payment of the withholding obligation to the Company.  The Participant acknowledges that this  paragraph is intended to comply with Section 10b5-1(c)(1(i)(B) under the Exchange Act.  The Company shall not deliver any shares of Common Stock to the Participant until it is  satisfied that all required withholdings have been made.  

 

4  9. Participant Acknowledgements and Authorizations.  The Participant acknowledges the following:  (a) The Company is not by the Plan or this Award obligated to continue the  Participant as an employee, director or consultant of the Company or an Affiliate.  (b) The Plan is discretionary in nature and may be suspended or terminated by  the Company at any time.  (c) The grant of this Award is considered a one-time benefit and does not create  a contractual or other right to receive any other award under the Plan, benefits in lieu of awards or  any other benefits in the future.  (d) The Plan is a voluntary program of the Company and future awards, if any,  will be at the sole discretion of the Company, including, but not limited to, the timing of any grant,  the amount of any award, vesting provisions and the purchase price, if any.  (e) The value of this Award is an extraordinary item of compensation outside  of the scope of the Participant’s employment or consulting contract, if any.  As such the Award is  not part of normal or expected compensation for purposes of calculating any severance,  resignation, redundancy, end of service payments, bonuses, long-service awards, pension or  retirement benefits or similar payments.  The future value of the shares of Common Stock is  unknown and cannot be predicted with certainty.  (f) The Participant (i) authorizes the Company and each Affiliate and any agent  of the Company or any Affiliate administering the Plan or providing Plan recordkeeping services,  to disclose to the Company or any of its Affiliates such information and data as the Company or  any such Affiliate shall request in order to facilitate the grant of the Award and the administration  of the Plan; and (ii) authorizes the Company and each Affiliate to store and transmit such  information in electronic form for the purposes set forth in this Agreement.  10. Notices.  Any notices required or permitted by the terms of this Agreement or the  Plan shall be given by recognized courier service, facsimile, registered or certified mail, return  receipt requested, addressed as follows:  If to the Company:  Hydrofarm Holdings Group, Inc.  2249 South McDowell Boulevard Ext  Petaluma, California 94954  Attn:   If to the Participant at the address set forth on the Restricted Stock Unit Award Grant  Notice or to such other address or addresses of which notice in the same manner has previously  been given.  Any such notice shall be deemed to have been given on the earliest of receipt, one  business day following delivery by the sender to a recognized courier service, or three business  days following mailing by registered or certified mail.  

 

5  11. Assignment and Successors.  (a) This Agreement is personal to the Participant and without the prior written  consent of the Company shall not be assignable by the Participant otherwise than by will or the  laws of descent and distribution.  This Agreement shall inure to the benefit of and be enforceable  by the Participant’s legal representatives.  (b) This Agreement shall inure to the benefit of and be binding upon the  Company and its successors and assigns.  12. Governing Law.  This Agreement shall be construed and enforced in accordance  with the laws of the State of Delaware, without giving effect to the conflict of law principles  thereof.  For the purpose of litigating any dispute that arises under this Agreement, whether at law  or in equity, the parties hereby consent to exclusive jurisdiction in the state of California and agree  that such litigation shall be conducted in the state courts of the state of California or the federal  courts of the United States for the District of California.  13. Severability.  If any provision of this Agreement is held to be invalid or  unenforceable by a court of competent jurisdiction, then such provision or provisions shall be  modified to the extent necessary to make such provision valid and enforceable, and to the extent  that this is impossible, then such provision shall be deemed to be excised from this Agreement,  and the validity, legality and enforceability of the rest of this Agreement shall not be affected  thereby.  14. Entire Agreement.  This Agreement, together with the Plan, constitutes the entire  agreement and understanding between the parties hereto with respect to the subject matter hereof  and supersedes all prior oral or written agreements and understandings relating to the subject  matter hereof.  No statement, representation, warranty, covenant or agreement not expressly set  forth in this Agreement shall affect or be used to interpret, change or restrict the express terms and  provisions of this Agreement provided, however, in any event, this Agreement shall be subject to  and governed by the Plan.  15. Modifications and Amendments; Waivers and Consents.  The terms and provisions  of this Agreement may be modified or amended as provided in the Plan.  Except as provided in  the Plan, the terms and provisions of this Agreement may be waived, or consent for the departure  therefrom granted, only by written document executed by the party entitled to the benefits of such  terms or provisions.  No such waiver or consent shall be deemed to be or shall constitute a waiver  or consent with respect to any other terms or provisions of this Agreement, whether or not similar.   Each such waiver or consent shall be effective only in the specific instance and for the purpose for  which it was given, and shall not constitute a continuing waiver or consent.  16. Section 409A.  The Award of RSUs evidenced by this Agreement is intended to be  exempt from the nonqualified deferred compensation rules of Section 409A of the Code as a “short  term deferral” (as that term is used in the final regulations and other guidance issued under Section  409A of the Code, including Treasury Regulation Section 1.409A-1(b)(4)(i)), and shall be  construed accordingly.  

 

6  17. Data Privacy.  By entering into this Agreement, the Participant:  (i) authorizes the  Company and each Affiliate, and any agent of the Company or any Affiliate administering the  Plan or providing Plan recordkeeping services, to disclose to the Company or any of its Affiliates  such information and data as the Company or any such Affiliate shall request in order to facilitate  the grant of options and the administration of the Plan; (ii) to the extent permitted by applicable  law waives any data privacy rights he or she may have with respect to such information, and (iii)  authorizes the Company and each Affiliate to store and transmit such information in electronic  form for the purposes set forth in this Agreement.  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]    108116462v.2

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