Document:

EX-10.19

 Exhibit 10.19 

FORM OF TRANSFERRED INTELLECTUAL PROPERTY 

LICENSE AGREEMENT 

This Transferred Intellectual Property License Agreement (this “Agreement”) dated as of [•], 2021, is made by and
between Global Holdings II, Inc, a Delaware corporation (“Licensor”), and International Paper Company, a New York corporation (“Licensee”). 

WHEREAS, Licensor and Licensee have entered into a Separation and Distribution Agreement dated as of [•] (the “Separation
Agreement”), pursuant to which Licensee has agreed to contribute, assign, transfer, convey and deliver to Licensor all of Licensee’s right, title and interest in and to the SpinCo Assets, including the SpinCo Intellectual Property and
SpinCo Know-How, on the terms and subject to the conditions set forth in the Separation Agreement; 

WHEREAS, the Transferred Licensed Intellectual Property (as defined below) is being transferred to Licensor pursuant to the Separation
Agreement; and 
 WHEREAS, Licensee wishes to continue to use the Transferred Licensed Intellectual Property, and Licensor has agreed to
license the Transferred Licensed Intellectual Property to Licensee, subject to the obligations set forth herein. 
 NOW, THEREFORE, in
consideration of the premises and mutual covenants herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed: 

SECTION 1. Definitions.  

(a) Capitalized terms that are not otherwise defined in this Agreement shall have the meanings ascribed to them in the Separation Agreement.

 (b) “Affiliate” means any Entity directly or indirectly, in whole or in part, or through one or more
intermediaries, owning, controlling, controlled by, or under common control with Licensor or Licensee, as the case may be. In addition, an Entity shall be deemed to own or control another Entity if it owns 50% or more of the common stock or other
interest representing the right to vote for the election of managing authority of the other Entity (or, in any jurisdiction where local law does not permit ownership of 50% or more of such interest, then if it owns the maximum interest permitted by
law). For the avoidance of doubt, OJSC Ilim Group, located at 17 ul. Marata, St. Petersburg, 191025, shall constitute an Affiliate of Licensee. 

(c) “Entity” means any individual natural person, firm, company, registered company, corporation, limited liability company,
joint stock company, joint venture, association, trust, limited liability partnership, limited partnership, or partnership, or similar legal structure. 

(d) “Patents” means patents, patent applications (including patents issued thereon), utility models, and industrial design
registrations, including reissues, divisions, continuations, continuations in part, substitutions, renewals, extensions and reexaminations of any of the foregoing, and all rights in any of the foregoing provided by international treaties or
conventions. 

 (e) “Transferred Licensed Intellectual Property” means (i) Patents
owned by Licensor or its Affiliates as of the Effective Time and set forth on Schedule 1 (“Licensed Patents”) and (ii) Know-How owned by, or licensed to (and sublicensable by Licensor without any obligation to the owner
of such Know-How), Licensor or its Affiliates as of the Effective Time that are related to the Licensed Patents. 
 SECTION 2.
License.  
 (a) Subject to the terms and conditions set forth in this Agreement, Licensor, on behalf of itself and its Affiliates,
grants to Licensee a fully paid-up, royalty-free, perpetual (subject to Section 4), worldwide, sublicensable to Affiliates (subject to Section 16), assignable (subject to the restrictions set forth in Section 16),
non-exclusive license to use (including to create modifications, enhancements or improvements to) the Transferred Licensed Intellectual Property to make, have made, sell, offer to sell, import and export products and services (collectively, the
rights granted above will be referred to as the “License”). 
 (b) Licensee shall not do, cause, suffer or cause to be done
any deed, matter or thing whatsoever which shall, or is likely to, adversely affect or prejudice, directly or indirectly, the validity of the Transferred Licensed Intellectual Property or the ownership of the Transferred Licensed Intellectual
Property by Licensor and Licensor’s business partners or any other third party. 
 SECTION 3. Improvements. 

(a) In the event a party makes, or has a Third Party make, modifications, enhancements or improvements to any Transferred Licensed Intellectual
Property (“Improvements”), each party shall retain ownership of any modifications, enhancements or improvements that such party makes, or has a Third Party make. For the purposes of clarity, the License does not include rights to
Improvements. 
 SECTION 4. Term and Termination. 

(a) Unless otherwise terminated in accordance with the terms herein, this Agreement shall remain in full force and effect in perpetuity, except
that, with respect to any Patent included in the Transferred Licensed Intellectual Property, the License granted hereunder shall terminate, only as to such Patent, upon the expiration of such Patent. 

(b) Licensor may terminate this Agreement (i) in the event Licensee makes or attempts to make an assignment of this Agreement in violation
of Section 16, (ii) in the event Licensee (x) becomes insolvent, (y) becomes the subject of a petition in bankruptcy which is not withdrawn or dismissed within sixty (60) days thereafter, or (z) makes an assignment for the
benefit of creditors, (iii) upon the mutual written agreement of the parties and (iv) in the event Licensee challenges or attempts to challenge Licensor’s ownership of or the validity of the Transferred Licensed Intellectual Property
(except to the extent that Licensee cannot be prohibited from making such challenge as a matter of law). 

  
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 SECTION 5. No Representations or Warranties. ALL OF THE TRANSFERRED LICENSED
INTELLECTUAL PROPERTY IS LICENSED ON AN “AS IS” BASIS. ACCORDINGLY, EXCEPT AS MAY EXPRESSLY BE SET FORTH IN THE SEPARATION AGREEMENT OR ANY OF THE ANCILLARY AGREEMENTS, (a) LICENSOR EXPRESSLY DISCLAIMS AND MAKES NO
REPRESENTATION OR WARRANTY OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO ANY TRANSFERRED LICENSED INTELLECTUAL PROPERTY, INCLUDING AS TO VALIDITY, NON-INFRINGEMENT AND ADEQUACY, SUITABILITY OR
FITNESS FOR A PARTICULAR PURPOSE OR OPERATION OR PERFORMANCE THEREOF AND (b) IN NO EVENT SHALL LICENSOR BE LIABLE FOR ANY DIRECT DAMAGES, COSTS OR SPECIAL, PUNITIVE, EXEMPLARY, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR LOST PROFITS WITH RESPECT TO
THE TRANSFERRED LICENSED INTELLECTUAL PROPERTY, INCLUDING ANY USE THEREOF BY LICENSEE. 
 SECTION 6. Maintenance. If, at any time,
any of the Transferred Licensed Intellectual Property is a trade secret, Licensee will use commercially reasonable efforts to protect the confidentiality thereof consistent with the manner in which it protects the confidentiality of its own trade
secrets of like kind. Licensor shall retain the sole right, but not the obligation, to maintain the Licensed Patents, including deciding whether to abandon or otherwise cease to maintain (including to discontinue payment of any fees due with respect
to) any such Licensed Patent. 
 SECTION 7. Confidentiality. The parties hereto shall hold in strict confidence, and not disclose to
any other Person or use for any purpose other than as expressly permitted pursuant to this Agreement, without the prior written consent of the other party, any information regarding (or related to) the Transferred Licensed Intellectual Property or
otherwise received under this Agreement which the disclosing party, at the time of disclosure, identifies as confidential or a trade secret (whether in writing or orally) or that would otherwise reasonably be understood to constitute confidential
information or a trade secret; provided that the parties hereto may disclose, or may permit disclosure of, such confidential information (a) to their respective Representatives who have a need to know such information for auditing and other non-commercial purposes and are informed of their obligation to hold such information confidential to the same extent as is applicable to the parties hereto and in respect of whose failure to comply with such
obligations, the applicable party will be responsible, (b) if the parties hereto are requested or required to disclose any such confidential information by oral questions, interrogatories, requests for information or other documents in legal
proceedings, subpoena, civil investigative demand or any other similar process, or by other requirements of Law or stock exchange rule, (c) as required in connection with any legal or other proceeding by one party against any other party or
(d) as necessary in order to permit a party to prepare and disclose its financial statements, or other required disclosures required by Law or such applicable stock exchange. Notwithstanding the foregoing, in the event that any demand or
request for disclosure of confidential information is made pursuant to clause (b) above, each party hereto, as applicable, shall provide the other with prompt written notice of any such request or requirement so that the other party has an
opportunity to seek a protective order or other appropriate remedy, which such parties will cooperate in obtaining. In the event that such appropriate protective order or other remedy is not obtained, the party that is required to make disclosure
shall disclose or shall cause to be disclosed only that portion of the confidential information that is in the opinion of outside counsel necessary to be disclosed and shall use its reasonable best efforts to ensure confidential treatment is
accorded to such disclosed information. 

  
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 SECTION 8. Infringement Actions. In the event Licensor takes affirmative action
against an infringement or misappropriation or a threatened infringement or misappropriation, Licensee agrees to assist Licensor in whatever manner Licensor reasonably requests, at the expense of Licensor. Recovery of damages resulting from any such
action shall be solely for the account of Licensor. Licensee will provide information reasonably requested by Licensor in any infringement or misappropriation action, including in connection with the calculation of damages. Licensee may participate,
at its expense, in any action taken by or proceeding instituted by or brought against Licensor through separate counsel of Licensee’s own choosing; provided that Licensor will at all times retain full control over such action, and not
compromise or settle any such action or proceeding unless such compromise or settlement (a) is solely for monetary damages (for which Licensor shall be responsible), (b) does not impose injunctive or other equitable relief against Licensee and
(c) includes an unconditional release of Licensee from all liability on claims that are the subject matter of such action or proceeding. 

SECTION 9. No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their permitted assigns and
nothing herein expressed or implied shall give or be construed to give to any other Person any legal or equitable rights hereunder. 

SECTION 10. Notices. All notices, requests, claims, demands or other communications under this Agreement shall be in writing and shall
be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by e-mail with receipt confirmed (followed by delivery of an original
via overnight courier service or by registered or certified mail postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in
accordance with this Section 10): 
 if to Licensor, to: 

[
                                ] 

[                       
          ] 

[                       
          ] 
 Attention:
    [                                 ] 

E-Mail:    
    [                                 ] 

with a copy (which shall not constitute notice) to: 

[                       
          ] 

[                       
          ] 

[                       
          ] 
 Attention:
    [                                 ] 

E-Mail:    
    [                                 ] 

  
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 if to Licensee, to: 

International Paper Company 
 6400
Poplar Avenue 
 Memphis, Tennessee 38197 

Attention: Sharon Ryan (General Counsel) 

with a copy (which shall not constitute notice) to: 

INTERNATIONAL PAPER COMPANY 

6400 Poplar Avenue 
 Memphis, TN
38197 
 Attention: Chief Counsel—Intellectual Property 

A party may, by notice to the other party, change the address to which such notices are to be given. 

SECTION 11. Amendments. No provisions of this Agreement shall be deemed waived, amended, supplemented or modified by a party, unless
such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the party against whom it is sought to enforce such waiver, amendment, supplement or modification. 

SECTION 12. Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is determined by
a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof or thereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held
invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby. Upon such determination, the parties shall negotiate in good faith in an effort to agree upon a suitable and equitable
provision to effect the original intent of the parties. 
 SECTION 13. Entire Agreement. This Agreement and the Separation Agreement
and the exhibits, schedules and appendices hereto and thereto, contain the entire agreement between the parties with respect to the subject matter hereof, and supersede all previous agreements, negotiations, discussions, writings, understandings,
commitments and conversations with respect to such subject matter, and there are no agreements or understandings between the parties other than those set forth or referred to herein or therein. In the event of any conflict between the provisions of
this Agreement, on the one hand, and the provisions of the Separation Agreement (including the exhibits, schedules and appendices thereto), on the other hand, the provisions of the Separation Agreement shall control. 

SECTION 14. Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same
agreement, and shall become effective when one or more counterparts have been signed by each of the parties hereto and delivered to the other party hereto. Each party acknowledges that it and the other party are

  
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executing this Agreement by facsimile, stamp or mechanical signature, and that delivery of an executed counterpart of a signature page to this Agreement (whether executed by manual, stamp,
electronic or mechanical signature) by email in portable document format (PDF) shall be effective as delivery of such executed counterpart of this Agreement. Each party expressly adopts and confirms each such facsimile, stamp or mechanical signature
(regardless of whether delivered in person, by mail, by courier or by email in portable document format (PDF)) made in its respective name as if it were a manual signature delivered in person, agrees that it shall not assert that any such signature
or delivery is not adequate to bind such party to the same extent as if it were signed manually and delivered in person and agrees that, at the reasonable request of the other party at any time, it shall as promptly as reasonably practicable cause
this Agreement to be manually executed (any such execution to be as of the date of the initial date thereof) and delivered in person, by mail or by courier. 

SECTION 15. Governing Law; Forum; Waiver of Jury Trial. The provisions of Section 10.2 of the Separation Agreement shall apply to
this Agreement mutatis mutandis. 
 SECTION 16. Assignment and Sublicense. Neither this Agreement nor any rights and
obligations of Licensee hereunder may be assigned or sublicensed by Licensee; provided, however, that Licensee may, without consent, and upon prior written notice to Licensor, (a) assign this Agreement or sublicense, solely within the
scope of the License, the rights granted hereunder, in whole or in part, to an Affiliate of Licensee or (b) assign this Agreement, in whole or in part, to a non-Affiliate purchaser or non-Affiliate transferee of all or part of a business or facility, provided further, that in no event may the non-Affiliate assignee or transferee use any of the Transferred
Licensed Intellectual Property in any business or activity other than that of the portion of the purchased or transferred business or facility as operated as of the date of such assignment. Licensee shall be responsible for the activities of any
sublicensee of Licensee as if the activities were directly those of Licensee. Any transfer or other disposition by Licensor or any of its Affiliates of any Transferred Licensed Intellectual Property will be made subject to the terms of this
Agreement. Licensor may freely assign this Agreement in whole or in part in connection with the transfer of all or any portion of its business to which this Agreement pertains. Subject to the preceding sentences of this Section 16, this
Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. 

SECTION 17. Limitations of Liability. NEITHER PARTY, NOR ANY OF ITS AFFILIATES, DIRECTORS, OFFICERS, AND EMPLOYEES SHALL BE LIABLE TO
THE OTHER PARTY, OR ITS AFFILIATES, FOR ANY SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, LOST PROFITS, REVENUE OR BUSINESS) ARISING OUT OF OR RELATED TO THIS AGREEMENT. THIS LIMITATION APPLIES
REGARDLESS OF WHETHER SUCH DAMAGES ARE SOUGHT BASED ON BREACH OF CONTRACT, NEGLIGENCE OR ANY OTHER LEGAL THEORY. 
 SECTION 18.
Headings. The Section and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

  
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 SECTION 19. Bankruptcy. All licenses granted under this Agreement will be
deemed licenses of rights to intellectual property for purposes of Section 365(n) of the U.S. Bankruptcy Code and the Licensee under this Agreement will retain and may fully exercise all of its rights and elections under the U.S. Bankruptcy
Code. 
 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly
authorized representatives effective as of the date first set forth above. 
  

			
	LICENSOR,
		
	by	 	  

		 	Name:
		 	Title:

  

			
	LICENSEE,
		
	by	 	  

		 	Name:
		 	Title:

  
 8EX-10.22

 Exhibit 10.22 

SYLVAMO CORPORATION 

2021 INCENTIVE COMPENSATION PLAN 

ARTICLE 1 
 PURPOSE

 1.1. GENERAL. The purpose of the Sylvamo Corporation 2021 Incentive Compensation Plan (the “Plan”) is to provide
incentive for non-employee directors and designated employees of Sylvamo Corporation, a Delaware corporation (the “Company”), or any Affiliate, to improve the performance of the Company on a
long-term basis, and to attract and retain certain persons in the employ of the Company. Accordingly, the Plan permits the grant of incentive awards from time to time to directors of the Company and selected designated employees of the Company and
its Affiliates. 
 ARTICLE 2 

DEFINITIONS 
 2.1.
DEFINITIONS. The following words and phrases shall have the following meanings: 
  

	(a)	 “Affiliate” means (i) any Subsidiary or Parent, or (ii) an entity that directly or
through one or more intermediaries controls, is controlled by or is under common control with, the Company, as determined by the Committee. 

  

	(b)	 “Award” means any Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock
Unit Award, Deferred Stock Unit Award, Dividend Equivalent Award, Other Stock-Based Award, or any other right or interest relating to Stock or cash, granted to a Participant under the Plan. 

 

	(c)	 “Award Certificate” means a written document, in such form as the Committee prescribes from
time to time, setting forth the terms and conditions of an Award. Award Certificates may be in the form of individual award agreements or certificates or a program document describing the terms and provisions of an Award or series of Awards under
the Plan. The Committee may provide for the use of electronic, internet or other non-paper Award Certificates. 

  

	(d)	 “Beneficial Owner” shall have the meaning given such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act. 

  

	(e)	 “Board” means the Board of Directors of the Company. 

  
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	(f)	 “Cause” as a reason for a Participant’s termination of employment shall have the meaning
assigned such term in the employment, severance or similar agreement, if any, between such Participant and the Company or an Affiliate, provided, however that if there is no such employment, severance or similar agreement in which such term is
defined, and unless otherwise defined in the applicable Award Certificate, “Cause” shall include but is not limited to misconduct or other activity detrimental to the business interest or reputation of the Company or continued
unsatisfactory job performance without making reasonable efforts to improve. Examples include insubordination, protracted or repeated absence from work without permission, illegal activity, disorderly conduct, etc. 

 

	(g)	 “Change in Control” means and includes the occurrence of any one of the following events:

 (1) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any
“person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of the Company’s voting stock representing 30% or more of the voting power of the Company’s outstanding voting stock, provided, however,
that an employee of the Company or any of its subsidiaries for whom shares are held under an employee stock ownership, employee retirement, employee savings or similar plan and whose shares are voted in accordance with the instructions of such
employee shall not be a member of a “group”(as that term is used in Section 13(d)(3) of the Exchange Act) solely because such employee’s shares are held by a trustee under said plan; 

(2) during any period of two (2) consecutive years, individuals who at the beginning of such period constitute the Board of Directors of the Company (the
“Board”) cease for any reason to constitute at least a majority thereof, unless the election, or the nomination for election, by the Company’s shareowners of each new director was approved by a vote of at least two-thirds (2/3) of the directors then still in office who were directors at the beginning of the period; 
 (3) the
Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding voting stock or voting
stock of such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the Company’s voting stock outstanding immediately prior to such transaction constitutes, or is converted
into or exchanged for, voting stock representing more than 50% of the voting power of the voting stock of the surviving person immediately after giving effect to such transaction; 

  
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 (4) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of
merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its subsidiaries taken as a whole to any “person” or “group” (as those terms are used in
Section 13(d)(3) of the Exchange Act) other than to the Company or one of its subsidiaries; or 
 (5) the shareowners of the Company approve a complete
liquidation or dissolution of the Company. 
  

	(h)	 “Code” means the Internal Revenue Code of 1986, as amended from time to time. For purposes of
this Plan, references to sections of the Code shall be deemed to include references to any applicable regulations thereunder and any successor or similar provision. 

 

	(i)	 “Committee” means the Compensation Committee of the Board described in Article 4.

  

	(j)	 “Company” means Sylvamo Corporation, a Delaware corporation, or any successor corporation.

  

	(k)	 “Continuous Service” means the absence of any interruption or termination of service as an
employee, officer, or director of the Company or any Affiliate, as applicable; provided, however, that for purposes of an Incentive Stock Option “Continuous Service” means the absence of any interruption or termination of service as an
employee of the Company or any Parent or Subsidiary, as applicable, pursuant to applicable tax regulations. Continuous Service shall not be considered interrupted in the following cases: (i) a Participant transfers employment between the
Company and an Affiliate or between Affiliates, or (ii) in the discretion of the Committee as specified at or prior to such occurrence, in the case of a spin-off, sale or disposition of the
Participant’s employer from the Company or any Affiliate, (iii) a Participant transfers from being an employee of the Company or an Affiliate to being a director of the Company or of an Affiliate, or vice versa, or (iv) any leave of
absence authorized in writing by the Company prior to its commencement; provided, however, that for purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon expiration of such leave is guaranteed by statute or
contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, on the 91st day of such leave any Incentive Stock Option held by the Participant shall cease to be treated as an Incentive Stock Option and
shall be treated for tax purposes as a Non-qualified Stock Option. Whether military, government or other service or other leave of absence shall constitute a termination of Continuous Service shall be
determined in each case by the Committee at its discretion, and any determination by the Committee shall be final and conclusive; provided, however, that for purposes of any Award that is subject to Code Section 409A, the determination of a
leave of absence must comply with the requirements of a “bona fide leave of absence” as provided in Treas. Reg. Section 1.409A-1(h). 

  
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	(l)	 “Deferred Stock Unit” means a right granted to a Participant under Article 9 to receive Shares
of Stock (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary
deferral elections. 

  

	(m)	 “Disability” of a Participant means that the Participant (i) is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of
any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than
three months under an accident and health plan covering employees of the Participant’s employer. If the determination of Disability relates to an Incentive Stock Option, Disability means Permanent and Total Disability as defined in
Section 22(e)(3) of the Code. In the event of a dispute, the determination whether a Participant has incurred a Disability will be made by the Committee and may be supported by the advice of a physician competent in the area to which such
Disability relates. 

  

	(n)	 “Dividend Equivalent” means a right granted to a Participant under Article 11.

  

	(o)	 “Effective Date” has the meaning assigned such term in Section 3.1.

  

	(p)	 “Eligible Participant” means Non-Employee Directors
and designated employees of the Company or any Affiliate. 

  

	(q)	 “Exchange” means any national securities exchange on which the Stock may from time to time be
listed or traded. 

  

	(r)	 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

  
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	(s)	 “Fair Market Value,” on any date, means (i) if the Stock is listed on a securities
exchange, the closing stock price on such date (or, in the absence of reported sales on such date, on the immediately preceding date on which sales were reported), or (ii) if the Stock is not listed on a securities exchange, the mean between
the bid and offered prices as quoted by the applicable interdealer quotation system for such date, provided that if the Stock is not quoted on an interdealer quotation system or if it is determined that the fair market value is not properly
reflected by such quotations, Fair Market Value will be determined by such other method as the Committee determines in good faith to be reasonable and in compliance with Code Section 409A. 

 

	(t)	 “Full-Value Award” means an Award other than in the form of an
Option or SAR, and which is settled by the issuance of Stock (or at the discretion of the Committee, settled in cash valued by reference to Stock value). 

  

	(u)	 “Good Reason” (or a similar term denoting constructive termination) has the meaning, if any,
assigned such term in the employment, severance or similar agreement, if any, between a Participant and the Company or an Affiliate, provided, however that if there is no such employment, severance or similar agreement in which such term is defined,
“Good Reason” shall have the meaning, if any, given such term in the applicable Award Certificate. If not defined in any such document, the term “Good Reason” as used herein shall not apply to a particular Award.

  

	(v)	 “Grant Date” of an Award means the first date on which all necessary corporate action has been
taken to approve the grant of the Award as provided in the Plan, or such later date as is determined and specified as part of that authorization process. Notice of the grant shall be provided to the grantee within a reasonable time after the Grant
Date. 

  

	(w)	 “Incentive Stock Option” means an Option that is intended to be an incentive stock option and
meets the requirements of Section 422 of the Code or any successor provision thereto. 

  

	(x)	 “Independent Directors” means those members of the Board of Directors who qualify at any given
time as “independent” directors under the applicable rules of each Exchange on which the Shares are listed, and “non-employee” directors under Rule
16b-3 of the Exchange Act. 

  
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	(y)	 “Non-Employee Director” means a director of the
Company who is not a common law employee of the Company or an Affiliate. 

  

	(z)	 “Non-qualified Stock Option” means an Option that is
not an Incentive Stock Option. 

  

	(aa)	 “Non-Segmented Performance Award” means a Performance
Award that is not a Segmented Performance Award. 

  

	(ab)	 “Option” means a right granted to a Participant under Article 7 of the Plan to purchase Stock
at a specified price during specified time periods. An Option may be either an Incentive Stock Option or a Non-qualified Stock Option. 

 

	(ac)	 “Other Stock-Based Award” means a right granted to a Participant under Article 12 that relates
to or is valued by reference to Stock or other Awards relating to Stock. 

  

	(ad)	 “Parent” means a corporation, limited liability company, partnership or other entity which
owns or beneficially owns a majority of the outstanding voting stock or voting power of the Company. Notwithstanding the above, with respect to an Incentive Stock Option, Parent shall have the meaning set forth in Section 424(e) of the Code.

  

	(ae)	 “Participant” means an Eligible Participant who has been granted an Award under the Plan;
provided that in the case of the death of a Participant, the term “Participant” refers to a beneficiary designated pursuant to Section 13.4 or the legal guardian or other legal representative acting in a fiduciary capacity on behalf
of the Participant under applicable state law and court supervision. 

  

	(af)	 “Performance Award” means any award granted under the Plan pursuant to Article 10.

  

	(ag)	 “Person” means any individual, entity or group, within the meaning of Section 3(a)(9) of
the Exchange Act and as used in Section 13(d)(3) or 14(d)(2) of the Exchange Act. 

  

	(ah)	 “Plan” means the Sylvamo Corporation 2021 Incentive Compensation Plan, as it may be amended
from time to time. 

  

	(ai)	 “Restricted Stock Award” means Stock granted to a Participant under Article 9 that is subject
to certain restrictions and to risk of forfeiture. 

  
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	(aj)	 “Restricted Stock Unit Award” means the right granted to a Participant under Article 9 to
receive shares of Stock (or the equivalent value in cash or other property if the Committee so provides) in the future, which right is subject to certain restrictions and to risk of forfeiture. 

 

	(ak)	 “Retirement” means a Participant’s termination of employment with the Company or an
Affiliate after reaching at least age 55 with 10 years of service, age 61 with 20 years of service, age 62 with 10 years of service, or age 65; for purposes of determining whether any service requirement under this definition are satisfied, any
continuous service (as defined in the International Paper Company Amended and Restated 2009 Incentive Compensation Plan) with International Paper Company through the date of the spin-off of Sylvamo Corporation
from International Paper Company shall be included and count towards satisfaction of such service requirement. In the case of a Participant who is a Non-Employee Director, “Retirement” means
retirement from the Board after reaching the age specified for mandatory retirement from the Board. 

  

	(al)	 “Securities Act” means the Securities Act of 1933, as amended from time to time.

  

	(am)	 “Segmented Performance Award” means a Performance Award that provides for two or more segments
within an overall performance period and in which performance achievement is measured separately for each individual segment and a portion of the award is deemed earned and “banked” pending the final assessment of performance over the full
performance period. 

  

	(an)	 “Shares” means shares of the Company’s Stock. If there has been an adjustment or
substitution with respect to the Shares (whether or not pursuant to Article 14), the term “Shares” shall also include any shares of stock or other securities that are substituted for Shares or into which Shares are adjusted.

  

	(ao)	 “Stock” means the $1.00 par value common stock of the Company and such other securities of the
Company as may be substituted for Stock pursuant to Article 14. 

  

	(ap)	 “Stock Appreciation Right” or “SAR” means a right granted to a Participant
under Article 8 to receive a payment equal to the difference between the Fair Market Value of a Share as of the date of exercise of the SAR over the base price of the SAR, all as determined pursuant to Article 8. 

  
 7 

	(aq)	 “Subsidiary” means any corporation, limited liability company, partnership or other entity of
which 50% or more of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Company. Notwithstanding the above, with respect to an Incentive Stock Option, Subsidiary shall have the meaning set forth in
Section 424(f) of the Code. 

  

	(ar)	 “Surviving Entity” means the entity resulting from a Change in Control (including, without
limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets or stock either directly or through one or more subsidiaries). 

ARTICLE 3 
 EFFECTIVE
TERM OF PLAN 
 3.1. EFFECTIVE DATE. The Plan shall be effective as of October 1, 2021 (the “Effective Date”).

 3.2. TERMINATION OF PLAN. Unless earlier terminated as provided herein, the Plan shall continue in effect until the date of the
2031 annual shareowners’ meeting or, if the shareowners approve an amendment to the Plan that increases the number of Shares subject to the Plan, the tenth anniversary of the date of such approval. The termination of the Plan shall not affect
the validity of any Award outstanding on the date of termination, which shall continue to be governed by the applicable terms and conditions of this Plan. Notwithstanding the foregoing, no Incentive Stock Options may be granted more than ten
(10) years after the the Effective Date. 

  
 8 

 ARTICLE 4 

ADMINISTRATION 
 4.1.
COMMITTEE. The Plan shall be administered by a Committee appointed by the Board (which Committee shall consist of at least two directors) or, at the discretion of the Board from time to time, the Plan may be administered by the Board. Unless
and until changed by the Board, the Compensation Committee of the Board is designated as the Committee to administer the Plan. It is intended that the Committee be composed solely of two or more Independent Directors and that any such members of the
Committee who do not so qualify shall abstain from participating in any decision to make or administer Awards that are made to Eligible Participants who at the time of consideration for such Award are persons subject to the short-swing profit rules
of Section 16 of the Exchange Act. However, a Committee member’s failure to qualify as an Independent Director or failure to abstain from such action shall not invalidate any Award made by the Committee which Award is otherwise validly
made under the Plan. The members of the Committee shall be appointed by, and may be changed at any time and from time to time in the discretion of, the Board. The Board may reserve to itself any or all of the authority and responsibility of the
Committee under the Plan or may act as administrator of the Plan for any and all purposes. To the extent the Board has reserved any authority and responsibility or during any time that the Board is acting as administrator of the Plan, it shall have
all the powers and protections of the Committee hereunder, and any reference herein to the Committee (other than in this Section 4.1) shall include the Board. To the extent any action of the Board under the Plan conflicts with actions taken by
the Committee, the actions of the Board shall control. 
 4.2. ACTION AND INTERPRETATIONS BY THE COMMITTEE. For purposes of
administering the Plan, the Committee may from time to time adopt rules, regulations, guidelines and procedures for carrying out the provisions and purposes of the Plan and make such other determinations, not inconsistent with the Plan, as the
Committee may deem appropriate. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award in the manner and to the extent it deems necessary to carry out the intent of the Plan. The
Committee’s interpretation of the Plan, any Awards granted under the Plan, any Award Certificate and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties. Each member of
the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any Affiliate, the Company’s or an Affiliate’s independent certified
public accountants, Company counsel or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. No member of the Committee will be liable for any good faith determination, act
or omission in connection with the Plan or any Award. 

  
 9 

 4.3. AUTHORITY OF COMMITTEE. Except as provided in Section 4.1 hereof, the
Committee has the exclusive power, authority and discretion to: 
  

	(a)	 Grant Awards; 

  

	(b)	 Delegate the granting Awards as specified in Section 4.4; 

 

	(c)	 Designate Participants; 

 

	(d)	 Determine the type or types of Awards to be granted to each Participant; 

 

	(e)	 Determine the number of Awards to be granted and the number of Shares or dollar amount to which an Award will
relate; 

  

	(f)	 Determine the terms and conditions of any Award granted under the Plan; 

 

	(g)	 Prescribe the form of each Award Certificate, which need not be identical for each Participant;

  

	(h)	 Decide all other matters that must be determined in connection with an Award; 

 

	(i)	 Establish, adopt or revise any rules, regulations, guidelines or procedures as it may deem necessary or
advisable to administer the Plan; 

  

	(j)	 Make all other decisions and determinations that may be required under the Plan or as the Committee deems
necessary or advisable to administer the Plan; 

  

	(k)	 Amend the Plan or any Award Certificate as provided herein; and 

 

	(l)	 Adopt such modifications, procedures, and subplans as may be necessary or desirable to comply with provisions
of the laws of the United States or any non-U.S. jurisdictions in which the Company or any Affiliate may operate, in order to assure the viability of the benefits of Awards granted to participants located in
the United States or such other jurisdictions and to meet the objectives of the Plan. 

 Notwithstanding the foregoing,
grants of Awards to Non-Employee Directors hereunder shall be made only in accordance with the terms, conditions and parameters of a plan, program or policy for the compensation of Non-Employee Directors as in effect from time to time that is approved and administered by a committee of the Board consisting solely of Independent Directors, and the Committee may not make other discretionary
grants hereunder to Non-Employee Directors. 
 4.4. DELEGATION. 

 

	(a)	 Administrative Duties. The Committee may delegate to one or more of its members or to one or more
officers of the Company or an Affiliate or to one or more agents or advisors such administrative duties or powers as it may deem advisable, and the Committee or any individuals to whom it has delegated duties or powers as aforesaid may employ one or
more individuals to render advice with respect to any responsibility the Committee or such individuals may have under this Plan. 

  
 10 

	(b)	 Special Committee. The Board may, by resolution, expressly delegate to a special committee, consisting
of one or more directors who may but need not be officers of the Company, the authority, within specified parameters as to the number and terms of Awards, to (i) designate employees of the Company or any of its Affiliates to be recipients of
Awards under the Plan, and (ii) to determine the number of such Awards to be received by any such Participants; provided, however, that such delegation of duties and responsibilities to an officer of the Company may not be made with respect to
the grant of Awards to eligible participants who are subject to Section 16(a) of the Exchange Act at the Grant Date. The acts of such delegates shall be treated hereunder as acts of the Board and such delegates shall report regularly to the
Board and the Committee regarding the delegated duties and responsibilities and any Awards so granted. 

  

	(c)	 Other Delegation. The Board may, by resolution, expressly delegate to the Senior Vice
President & Chief People Officer the authority, within specified parameters as to the number and terms of Awards, to (i) designate employees of the Company or any of its Affiliates to be recipients of Awards under the Plan, and
(ii) to determine the number of such Awards to be received by any such Participants; provided, however, that such delegation of duties and responsibilities may not be made with respect to the grant of Awards to eligible participants who are
Senior Vice President of the Company and above. The acts of such delegate shall be treated hereunder as acts of the Board and such delegate shall report regularly to the Committee regarding the delegated duties and responsibilities and any Awards so
granted. 

 ARTICLE 5 

SHARES SUBJECT TO THE PLAN 

5.1. NUMBER OF SHARES. Subject to adjustment as provided in Sections 5.2 and 14.1, the aggregate number of Shares reserved and
available for issuance pursuant to Awards granted under the Plan shall be [ten percent (10%) of Sylvamo Corporation common shares outstanding]. The maximum number of Shares that may be issued upon exercise of Incentive Stock Options granted
under the Plan shall be [•]. 
 5.2. SHARE COUNTING. Shares covered by an Award shall be subtracted from the
Plan share reserve as of the Grant Date, but shall be added back to the Plan share reserve in accordance with this Section 5.2. 
  

	(a)	 To the extent that an Award is canceled, terminates, expires, is forfeited or lapses for any reason, any
unissued or forfeited Shares subject to the Award shall be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan. 

  
 11 

	(b)	 Shares subject to Awards settled in cash shall be added back to the Plan share reserve and again be available
for issuance pursuant to Awards granted under the Plan. 

  

	(c)	 Shares withheld from an Award or delivered by a Participant to satisfy minimum tax withholding requirements
shall be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan. 

  

	(d)	 If the exercise price of an Option is satisfied by delivering Shares to the Company (by either actual delivery
or attestation), only the number of Shares issued to the Participant in excess of the Shares tendered (by delivery or attestation) shall be debited from the number of Shares remaining available for issuance pursuant to Awards granted under the Plan.

  

	(e)	 To the extent that the full number of Shares subject to an Option or SAR is not issued upon exercise of the
Option or SAR for any reason, including by reason of net-settlement of the Award, only the number of Shares issued and delivered upon exercise of the Option or SAR shall be considered for purposes of
determining the number of Shares remaining available for issuance pursuant to Awards granted under the Plan. 

  

	(f)	 To the extent that the full number of Shares subject to a Performance Award is not issued by reason of failure
to achieve maximum performance goals, the unissued Shares originally subject to the Performance Award will be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan. 

 

	(g)	 Substitute Awards granted pursuant to Section 13.11 shall not count against the Shares otherwise available
for issuance under the Plan under Section 5.1. 

  

	(h)	 Subject to applicable Exchange requirements, shares available under a shareowner-approved plan of a company
acquired by the Company (as appropriately adjusted to Shares to reflect the transaction) may be issued under the Plan pursuant to Awards granted to individuals who were not employees of the Company or its Affiliates immediately before such
transaction and will not count against the maximum share limitation specified in Section 5.1. 

  
 12 

 5.3. STOCK DISTRIBUTED. Any Stock distributed pursuant to an Award may consist, in
whole or in part, of authorized and unissued Stock, treasury Stock or Stock purchased on the open market. 

  
 13 

 ARTICLE 6 

ELIGIBILITY 
 6.1.
GENERAL. Awards may be granted only to Eligible Participants. Eligible Participants who are service providers to an Affiliate may be granted Options or SARs under this Plan only if the Affiliate qualifies as an “eligible issuer of
service recipient stock” within the meaning of §1.409A-1(b)(5)(iii)(E) of the final regulations under Code Section 409A. 

ARTICLE 7 
 STOCK OPTIONS

 7.1. GENERAL. The Committee is authorized to grant Options to Participants on the following terms and conditions: 

 

	(a)	 Exercise Price. The exercise price per Share under an Option shall be determined by the Committee,
provided that the exercise price for any Option (other than an Option issued as a substitute Award pursuant to Section 13.11) shall not be less than the Fair Market Value as of the Grant Date. 

 

	(b)	 Prohibition on Repricing. Except as otherwise provided in Section 14.1, the exercise price of an
Option may not be reduced, directly or indirectly by cancellation and regrant or otherwise, without the prior approval of the shareowners of the Company. 

  

	(c)	 Time and Conditions of Exercise. The Committee shall determine the time or times at which an Option may
be exercised in whole or in part, subject to Section 7.1(e). The Committee shall also determine the performance or other conditions, if any, that must be satisfied before all or part of an Option may be exercised or vested.

  

	(d)	 Payment. The Committee shall determine the methods by which the exercise price of an Option may be paid,
the form of payment, and the methods by which Shares shall be delivered or deemed to be delivered to Participants. As determined by the Committee at or after the Grant Date, payment of the exercise price of an Option may be made, in whole or in
part, in the form of (i) cash or cash equivalents, (ii) delivery (by either actual delivery or attestation) of previously-acquired Shares based on the Fair Market Value of the Shares on the date the Option is exercised,
(iii) withholding of Shares from the Option based on the Fair Market Value of the Shares on the date the Option is exercised, (iv) broker-assisted market sales, or (iv) any other “cashless exercise” arrangement.

  

  
 14 

	(e)	 Exercise Term. Except for Non-qualified Stock Options granted to
Participants outside the United States, no Option granted under the Plan shall be exercisable for more than ten years from the Grant Date. 

  

	(f)	 No Deferral Feature. No Option shall provide for any feature for the deferral of compensation other than
the deferral of recognition of income until the exercise or disposition of the Option. 

  

	(g)	 No Dividend Equivalents. No Option shall provide for Dividend Equivalents. 

7.2. INCENTIVE STOCK OPTIONS. Incentive Stock Options may be granted to only to Eligible Participants who are employees of the Company
or a Parent or Subsidiary as defined in Section 424(e) and (f) of the Code. The terms of any Incentive Stock Options granted under the Plan must comply with the requirements of Section 422 of the Code. If all of the requirements of
Section 422 of the Code are not met, the Option shall automatically become a Non-qualified Stock Option. 

ARTICLE 8 
 STOCK
APPRECIATION RIGHTS 
 8.1. GRANT OF STOCK APPRECIATION RIGHTS. The Committee is authorized to grant Stock Appreciation Rights
(“SARs”) to Participants on the following terms and conditions: 
  

	(a)	 Right to Payment. Upon the exercise of a SAR, the Participant to whom it is granted has the right to
receive, for each Share with respect to which the SAR is being exercised, the excess, if any, of: 

 (1) The Fair Market Value of one Share
on the date of exercise; over 
 (2) The base price of the SAR as determined by the Committee and set forth in the Award Certificate, which shall not be less
than the Fair Market Value of one Share on the Grant Date. 
  

	(b)	 Prohibition on Repricing. Except as otherwise provided in Section 14.1, the base price of a SAR may
not be reduced, directly or indirectly by cancellation and regrant or otherwise, without the prior approval of the shareowners of the Company. 

  

	(c)	 Time and Conditions of Exercise. Except for SARs granted to Participants outside the United States, no
SAR shall be exercisable for more than ten years from the Grant Date. 

  
 15 

	

			
	(d)	  	No Deferral Feature. No SAR shall provide for any feature for the deferral of compensation other than the deferral of recognition of income until the exercise or disposition of the SAR.
		
	(e)	  	No Dividend Equivalents. No SAR shall provide for Dividend Equivalents.
		
	(f)	  	Other Terms. All SARs shall be evidenced by an Award Certificate. Subject to the limitations of this Article 8, the terms, methods of exercise, methods of settlement, form of consideration payable in settlement, and any other
terms and conditions of any SAR shall be determined by the Committee at the time of the grant of the Award and shall be reflected in the Award Certificate.

 ARTICLE 9 

RESTRICTED STOCK, RESTRICTED STOCK UNITS 

AND DEFERRED STOCK UNITS 

9.1. GRANT OF RESTRICTED STOCK, RESTRICTED STOCK UNITS AND DEFERRED STOCK UNITS . The Committee is authorized to make Awards of
Restricted Stock, Restricted Stock Units or Deferred Stock Units to Participants in such amounts and subject to such terms and conditions as may be selected by the Committee. An Award of Restricted Stock, Restricted Stock Units or Deferred Stock
Units shall be evidenced by an Award Certificate setting forth the terms, conditions, and restrictions applicable to the Award. 
 9.2.
ISSUANCE AND RESTRICTIONS. Restricted Stock, Restricted Stock Units or Deferred Stock Units shall be subject to such restrictions on transferability and other restrictions as the Committee may impose (including, without limitation,
limitations on the right to vote Restricted Stock or the right to receive dividends on the Restricted Stock). These restrictions may lapse separately or in combination at such times, under such circumstances, in such installments, upon the
satisfaction of performance goals or otherwise, as the Committee determines at the time of the grant of the Award or thereafter. Except as otherwise provided in an Award Certificate or any special Plan document governing an Award, the Participant
shall have all of the rights of a shareowner with respect to the Restricted Stock, and the Participant shall have none of the rights of a shareowner with respect to Restricted Stock Units or Deferred Stock Units until such time as Shares of Stock
are paid in settlement of the Restricted Stock Units or Deferred Stock Units. Unless otherwise provided in the applicable Award Certificate, Awards of Restricted Stock will be entitled to full dividend rights and any dividends paid thereon will be
paid or distributed to the holder no later than the end of the calendar year in which the dividends are paid to shareowners or, if later, the 15th day of the third month following the date the dividends are paid to shareowners. 

  
 16 

 9.3. FORFEITURE. Subject to the terms of the Award Certificate and except as
otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of Continuous Service during the applicable restriction period or upon failure to satisfy a performance goal during the applicable
restriction period, Restricted Stock, Restricted Stock Units or Deferred Stock Units that are at that time subject to restrictions shall be forfeited. 

9.4. DELIVERY OF RESTRICTED STOCK. Shares of Restricted Stock shall be delivered to the Participant on the Grant Date either by
book-entry registration or by delivering to the Participant, or a custodian or escrow agent (including, without limitation, the Company or one or more of its employees) designated by the Committee, a stock certificate or certificates registered in
the name of the Participant. If physical certificates representing shares of Restricted Stock are registered in the name of the Participant, such certificates must bear an appropriate legend referring to the terms, conditions, and restrictions
applicable to such Restricted Stock. 
 ARTICLE 10 

PERFORMANCE AWARDS 
 10.1.
GRANT OF PERFORMANCE AWARDS. The Committee is authorized to grant any Award under this Plan, including cash-settled Awards, with performance-based vesting criteria, on such terms and conditions as may be selected by the Committee. Any such
Awards with performance-based vesting criteria are referred to herein as Performance Awards. The Committee shall have the complete discretion to determine the number of Performance Awards granted to each Participant, subject to Section 5.4, and
to designate the provisions of such Performance Awards as provided in Section 4.3. All Performance Awards shall be evidenced by an Award Certificate or a written program established by the Committee, pursuant to which Performance Awards are
awarded under the Plan under uniform terms, conditions and restrictions set forth in such written program. All Dividend Equivalents credited on Performance Shares during a performance period shall be reinvested in additional Performance Shares,
which shall be allocated to the same performance period and shall be subject to being earned by the Participant on the same basis as the original Award. Once a Performance Award has been settled in Stock, any dividends on such Shares shall be paid
in the same form and at the same time as to other shareowners. 
 10.2. PERFORMANCE GOALS. The Committee may establish performance
goals for Performance Awards which may be based on any criteria selected by the Committee. Such performance goals may be described in terms of Company-wide objectives or in terms of objectives that relate to the performance of the Participant, an
Affiliate or a division, region, department or function within the Company or an Affiliate. Such performance measures may include, but are not limited to: 

  
 17 

			
	(a)	  	Revenue
		
	(b)	  	Sales
		
	(c)	  	Profit (net profit, gross profit, operating profit, economic profit, profit margins or other corporate profit measures)
		
	(d)	  	Earnings (EBIT, EBITDA, earnings per share, or other corporate earnings measures)
		
	(e)	  	Net income (before or after taxes, operating income or other income measures)
		
	(f)	  	Cash (cash flow, cash generation or other cash measures)
		
	(g)	  	Stock price or performance
		
	(h)	  	Total shareholder return (stock price appreciation plus reinvested dividends divided by beginning share price)
		
	(i)	  	Economic value added
		
	(j)	  	Return measures (including, but not limited to, return on assets, income, capital, equity, investments or sales, and cash flow return on assets, capital, equity, or sales);
		
	(k)	  	Market share
		
	(l)	  	Improvements in capital structure
		
	(m)	  	Expenses (expense management, expense ratio, expense efficiency ratios or other expense measures)
		
	(n)	  	Business expansion or consolidation (acquisitions and divestitures)
		
	(o)	  	Internal rate of return or increase in net present value
		
	(p)	  	Working capital targets relating to inventory and/or accounts receivable
		
	(q)	  	Safety standards
		
	(r)	  	Productivity measures
		
	(s)	  	Cost reduction measures
		
	(t)	  	Strategic plan development and implementation

 If the Committee determines that events or circumstances render the performance goals to be unsuitable, the
Committee may modify such performance goals in whole or in part, as the Committee deems appropriate. If a Participant is promoted, demoted or transferred to a different business unit or function during a performance period, the Committee may
determine that the performance goals or performance period are no longer appropriate and may (i) adjust, change or eliminate the performance goals or the applicable performance period as it deems appropriate to make such goals and period
comparable to the initial goals and period, or (ii) make a cash payment to the participant in an amount determined by the Committee. 

  
 18 

 ARTICLE 11 

DIVIDEND EQUIVALENTS 

11.1. GRANT OF DIVIDEND EQUIVALENTS. The Committee is authorized to grant Dividend Equivalents with respect to Full-Value Awards
granted hereunder, subject to such terms and conditions as may be selected by the Committee. Dividend Equivalents shall entitle the Participant to receive payments equal to ordinary cash dividends or distributions with respect to all or a portion of
the number of Shares subject to a Full-Value Award, as determined by the Committee. Dividend Equivalents will be accrued and only vest and be payable to a Participant if and to the extent that any Shares underlying such Full-Value Award with which
respect to the Dividend Equivalent was granted actually vest and become payable. 
 ARTICLE 12 

STOCK OR OTHER STOCK-BASED AWARDS 

12.1. GRANT OF STOCK OR OTHER STOCK-BASED AWARDS. The Committee is authorized, subject to limitations under applicable law, to grant to
Participants such other Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to Shares, as deemed by the Committee to be consistent with the purposes of the Plan, including without limitation
Shares awarded purely as a “bonus” and not subject to any restrictions or conditions, convertible or exchangeable debt securities, other rights convertible or exchangeable into Shares, and Awards valued by reference to book value of Shares
or the value of securities of or the performance of specified Parents or Subsidiaries. The Committee shall determine the terms and conditions of such Awards. 

ARTICLE 13 
 PROVISIONS
APPLICABLE TO AWARDS 
 13.1. AWARD CERTIFICATES. Each Award shall be evidenced by an Award Certificate. Each Award Certificate
shall include such provisions, not inconsistent with the Plan, as may be specified by the Committee. 
 13.2. FORM OF PAYMENT FOR
AWARDS. At the discretion of the Committee, payment of Awards may be made in cash, Stock, a combination of cash and Stock, or any other form of property as the Committee shall determine. In addition, payment of Awards may include such terms,
conditions, restrictions and/or limitations, if any, as the Committee deems appropriate, including, in the case of Awards paid in the form of Stock, restrictions on transfer and forfeiture provisions. Further, payment of Awards may be made in the
form of a lump sum, or in installments, as determined by the Committee. 

  
 19 

 13.3. LIMITS ON TRANSFER. No right or interest of a Participant in any unexercised or
restricted Award may be pledged, encumbered, or hypothecated to or in favor of any party other than the Company or an Affiliate, or shall be subject to any lien, obligation, or liability of such Participant to any other party other than the Company
or an Affiliate. No unexercised or restricted Award shall be assignable or transferable by a Participant other than by will or the laws of descent and distribution or, except in the case of an Incentive Stock Option, pursuant to a domestic relations
order that would satisfy Section 414(p)(1)(A) of the Code if such Section applied to an Award under the Plan; provided, however, that the Committee may (but need not) permit other transfers (other than transfers for value) where the Committee
concludes that such transferability (i) does not result in accelerated taxation, (ii) does not cause any Option intended to be an Incentive Stock Option to fail to be described in Code Section 422(b), and (iii) is otherwise
appropriate and desirable, taking into account any factors deemed relevant, including without limitation, state or federal tax or securities laws applicable to transferable Awards. 

13.4. BENEFICIARIES. Notwithstanding Section 13.3, a Participant may, in the manner determined by the Committee, designate a
beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary, legal guardian, legal representative, or other person claiming any rights under the
Plan is subject to all terms and conditions of the Plan and any Award Certificate applicable to the Participant, except to the extent the Plan and Award Certificate otherwise provide, and to any additional restrictions deemed necessary or
appropriate by the Committee. If no beneficiary has been designated or survives the Participant, any payment due to the Participant shall be made to the Participant’s estate. Subject to the foregoing, a beneficiary designation may be changed or
revoked by a Participant at any time provided the change or revocation is filed with the Company. 
 13.5. STOCK TRADING RESTRICTIONS.
All Stock issuable under the Plan is subject to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with federal or state securities laws, rules and regulations and the rules of any national
securities exchange or automated quotation system on which the Stock is listed, quoted, or traded. The Committee may place legends on any Stock certificate or issue instructions to the transfer agent to reference restrictions applicable to the
Stock. 
 13.6. TREATMENT UPON DEATH OR DISABILITY. Except as otherwise provided in the Award Certificate or any special Plan document
governing an Award, upon the termination of a person’s Continuous Service by reason of death or Disability: 
  

			
	(a)	  	all of that Participant’s outstanding Options and SARs shall become fully exercisable, and shall thereafter remain exercisable for a period of one (1) year or until the earlier expiration of the original term of the Option
or SAR;
		
	(b)	  	all time-based vesting restrictions on that Participant’s outstanding Awards shall lapse as of the date of termination; and
		
	(c)	  	the payout opportunities attainable under all of that Participant’s outstanding Performance Awards shall be prorated based upon the number of months employed during each measurement period and shall be paid at the end of the
Award period based on actual Company performance.

  
 20 

 To the extent that this provision causes Incentive Stock Options to exceed the dollar
limitation set forth in Code Section 422(d), the excess Options shall be deemed to be Non-qualified Stock Options. 

13.7. TREATMENT UPON RETIREMENT. Except as otherwise provided in the Award Certificate or any special Plan document governing an Award,
upon the termination of a person’s Continuous Service by reason of his or her Retirement: 
  

			
	(a)	  	that Participant’s outstanding Options and SARs shall become exercisable on a pro-rated basis (based upon the number of months employed during the applicable vesting period), and shall
thereafter remain exercisable for a period of one (1) year or until the earlier expiration of the original term of the Option or SAR;
		
	(b)	  	time-based vesting restrictions on that Participant’s outstanding Awards shall lapse in a pro-rated basis (based upon the number of months employed during the applicable vesting period);
and
		
	(c)	  	the payout opportunities attainable under all of that Participant’s outstanding Performance Awards shall be prorated based upon the number of months employed during each measurement period and shall be paid at the end of the
Award period based on actual Company performance.

 To the extent that this provision causes Incentive Stock Options to exceed the dollar limitation set forth in
Code Section 422(d), the excess Options shall be deemed to be Non-qualified Stock Options. 

13.8. EFFECT OF A CHANGE IN CONTROL. The provisions of this Section 13.8 shall apply in the case of a Change in Control,
unless otherwise provided in the Award Certificate or any special Plan document or separate agreement with a Participant governing an Award. 
  

			
	(a)	  	Awards Assumed or Substituted by Surviving Entity. With respect to Awards assumed by the Surviving Entity or otherwise equitably converted or substituted in connection with a Change in Control in a manner approved by the
Committee or the Board: if within two years after the effective date of the Change in Control, a Participant’s employment is terminated without Cause or the Participant resigns for Good Reason, then

  
 21 

			
	(i)	 	 all of that Participant’s outstanding Options or SARs shall become fully vested and exercisable as of the
employment termination date and shall thereafter continue or lapse in accordance with the other provisions of the Plan and the Award Certificate;

		
	(ii)	 	 all time-based vesting restrictions on that Participant’s outstanding Awards shall lapse as of the employment
termination date; and

		
	(iii)	 	 the level of performance achievement under all of that Participant’s Performance Awards that were outstanding
immediately prior to effective time of the Change in Control shall be calculated as follows:

 (A) Segmented Performance Awards: 
  

			
	1.	 	 The portion of the Award that had been “banked” prior to the employment termination date based on the
assessment of performance for a completed segment shall be fully vested as of the employment termination date; and

		
	2.	 	 The portion of the Award that relates to any segment that had not been completed, or for which performance had not been
assessed, prior to the employment termination date shall vest as of the employment termination date based on the assumed achievement of performance at the “target” level.

		
	3.	 	 In either such case, the vested portion of the Award shall be paid within sixty (60) days following the employment
termination date (unless a later date is required by Section 16.4 hereof).

 (B) Non-Segmented Performance Awards: 

 

			
	1.	 	 Where less than one year had elapsed between the beginning of the applicable performance period and the employment
termination date, a Non-Segmented Performance Award shall vest as of the employment termination date based on the assumed achievement of performance at the “target” level; and

		
	2.	 	 Where one year or more has elapsed between the beginning of the applicable performance period and the employment
termination date, a Non-Segmented Award shall vest based upon the level of actual Company performance measured through the end of the year immediately preceding the employment termination date.

		
	3.	 	 In either such case, the vested portion of the Award shall be paid within sixty (60) days following the employment
termination date (unless a later date is required by Section 16.4 hereof).

  
 22 

			
	(b)	  	Awards not Assumed or Substituted by Surviving Entity. Upon the occurrence of a Change in Control, and except with respect to any Awards assumed by the Surviving Entity or otherwise equitably converted or substituted in
connection with the Change in Control in a manner approved by the Committee or the Board:
		
	(i)	  	 outstanding Options or SARs shall become fully vested and exercisable as of the date of the Change in Control and shall
thereafter continue or lapse in accordance with the other provisions of the Plan and the Award Certificate;

		
	(ii)	  	 time-based vesting restrictions on outstanding Awards shall lapse as of the date of the Change in Control;
and

		
	(iii)	  	 the level of performance achievement under outstanding Performance Awards shall be calculated as follows:

 (A) Segmented Performance Awards: 
  

			
	1.	 	 The portion of the Award that had been “banked” prior to the Change in Control based on the assessment of
performance for a completed segment shall be fully vested as of the date of the Change in Control; and

		
	2.	 	 The portion of the Award that relates to any segment that had not been completed, or for which performance had not been
assessed, prior to the Change in Control shall vest as of the date of the Change in Control based on the assumed achievement of performance at the “target” level.

		
	3.	 	 In either such case, the vested portion of the Award shall be paid within sixty (60) days following the Change in
Control (unless a later date is required by Section 16.4 hereof).

 (B) Non-Segmented Performance Awards: 

 

			
	1.	 	 Where less than one year has elapsed between the beginning of the applicable performance period and the Change in
Control, a Non-Segmented Performance Award shall vest as of the date of the Change in Control based on the assumed achievement of performance at the “target” level; and

  
 23 

			
	2.	 	 Where one year or more has elapsed between the beginning of the applicable performance period and the Change in
Control, a Non-Segmented Award shall vest as of the date of the Change in Control based upon the level of actual Company performance measured through the date of the Change in Control.

		
	3.	 	 In either such case, the vested portion of the Award shall be paid within sixty (60) days following the Change in
Control (unless a later date is required by Section 16.4 hereof).

 13.9. ACCELERATION FOR ANY OTHER REASON. Regardless of whether an event has occurred as described in
Sections 13.6, 13.7 or 13.8 above, the Committee may in its sole discretion at any time determine that all or a portion of a Participant’s Options, SARs, and other Awards in the nature of rights that may be exercised shall become fully or
partially exercisable, that all or a part of the time-based vesting restrictions on all or a portion of the outstanding Awards shall lapse, and/or that any performance-based criteria with respect to any Awards shall be deemed to be wholly or
partially satisfied, in each case, as of such date as the Committee may, in its sole discretion, declare. The Committee may discriminate among Participants and among Awards granted to a Participant in exercising its discretion pursuant to this
Section 13.9. Notwithstanding anything in the Plan, including this Section 13.9, the Committee may not accelerate the payment of any Award if such acceleration would violate Section 409A(a)(3) of the Code. 

13.10. FORFEITURE EVENTS. Awards under the Plan shall be subject to any compensation recoupment policy that the Company may adopt from
time to time that is applicable by its terms to the Participant. In addition, the Committee may specify in an Award Certificate that the Participant’s rights, payments and benefits with respect to an Award shall be subject to reduction,
cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. 

Such events may include, but shall not be limited to, voluntary termination prior to Retirement eligibility, termination of employment for Cause, violation of
a Non-Compete Agreement, Non-Solicitation Agreement or Confidentiality Agreement, or other conduct by the Participant that is detrimental to the business interest or
reputation of the Company or any Affiliate or any act that is determined by the Senior Vice President & Chief People Officer to be a deliberate disregard of the Company’s rules. 

  
 24 

 13.11. SUBSTITUTE AWARDS. The Committee may grant Awards under the Plan in
substitution for stock and stock-based awards held by employees of another entity who become employees of the Company or an Affiliate as a result of a merger or consolidation of the former employing entity with the Company or an Affiliate or the
acquisition by the Company or an Affiliate of property or stock of the former employing corporation. The Committee may direct that the substitute awards be granted on such terms and conditions as the Committee considers appropriate in the
circumstances. 
 ARTICLE 14 

CHANGES IN CAPITAL STRUCTURE 

14.1. MANDATORY ADJUSTMENTS. In the event of a nonreciprocal transaction between the Company and its shareowners that causes the per-share value of the Stock to change (including, without limitation, any stock dividend, stock split, spin-off, rights offering, or large nonrecurring cash dividend), the
authorization limits under Section 5.1 and 5.4 shall be adjusted proportionately, and the Committee shall make such adjustments to the Plan and Awards as it deems necessary, in its sole discretion, to prevent dilution or enlargement of rights
immediately resulting from such transaction. Action by the Committee may include: (i) adjustment of the number and kind of shares that may be delivered under the Plan; (ii) adjustment of the number and kind of shares subject to outstanding
Awards; (iii) adjustment of the exercise price of outstanding Awards or the measure to be used to determine the amount of the benefit payable on an Award; and (iv) any other adjustments that the Committee determines to be equitable.
Notwithstanding the foregoing, the Committee shall not make any adjustments to outstanding Options or SARs that would constitute a modification or substitution of the stock right under Treas. Reg.
Section 1.409A-1(b)(5)(v) that would be treated as the grant of a new stock right or change in the form of payment for purposes of Code Section 409A. Without limiting the foregoing, in the event of a
subdivision of the outstanding Stock (stock-split), a declaration of a dividend payable in Shares, or a combination or consolidation of the outstanding Stock into a lesser number of Shares, the authorization limits under Sections 5.1 and 5.4 shall
automatically be adjusted proportionately, and the Shares then subject to each Award shall automatically, without the necessity for any additional action by the Committee, be adjusted proportionately without any change in the aggregate purchase
price therefor. 
 14.2 DISCRETIONARY ADJUSTMENTS. Upon the occurrence or in anticipation of any corporate event or transaction
involving the Company (including, without limitation, any merger, reorganization, recapitalization, combination or exchange of shares, or any transaction described in Section 14.1), the Committee may, in its sole discretion, provide
(i) that Awards will be settled in cash rather than Stock, (ii) that Awards will become immediately vested and exercisable (in whole or in part) and will expire after a designated period of time to the extent not then exercised,
(iii) that Awards will be assumed by another party to a transaction or otherwise be equitably converted or substituted in connection with such transaction, (iv) that outstanding Awards may be settled by payment in cash or cash equivalents
equal to the excess of the Fair Market Value of the underlying Stock, as of a specified date associated with the transaction, over the exercise or base price of the Award, or (v) any combination of the foregoing. The Committee’s
determination need not be uniform and may be different for different Participants whether or not such Participants are similarly situated. 

  
 25 

 14.3 GENERAL. Any discretionary adjustments made pursuant to this Article 14 shall be
subject to the provisions of Section 15.2. To the extent that any adjustments made pursuant to this Article 14 cause Incentive Stock Options to cease to qualify as Incentive Stock Options, such Options shall be deemed to be Non-qualified Stock Options. 
 ARTICLE 15 

AMENDMENT, MODIFICATION AND TERMINATION 

15.1. AMENDMENT, MODIFICATION AND TERMINATION. The Board or the Committee may, at any time and from time to time, amend, modify or
terminate the Plan without shareowner approval; provided, however, that if an amendment to the Plan would, in the reasonable opinion of the Board or the Committee, either (i) materially increase the number of Shares available under the Plan,
(ii) expand the types of awards under the Plan, (iii) materially expand the class of participants eligible to participate in the Plan, (iv) materially extend the term of the Plan, or (v) otherwise constitute a material change
requiring shareowner approval under applicable laws, policies or regulations or the applicable listing or other requirements of an Exchange, then such amendment shall be subject to shareowner approval; and provided, further, that the Board or
Committee may condition any other amendment or modification on the approval of shareowners of the Company for any reason, including by reason of such approval being necessary or deemed advisable (i) to comply with the listing or other
requirements of an Exchange, or (ii) to satisfy any other tax, securities or other applicable laws, policies or regulations. 
 15.2.
AWARDS PREVIOUSLY GRANTED. At any time and from time to time, the Committee may amend, modify or terminate any outstanding Award without approval of the Participant; provided, however: 

 

			
	(a)	  	Subject to the terms of the applicable Award Certificate, no amendment, modification or termination shall, without the Participant’s consent, reduce or diminish the value of such Award determined as if the Award had been
exercised, vested, cashed in or otherwise settled on the date of such amendment or termination (with the per-share value of an Option or SAR for this purpose being calculated as the excess, if any, of the Fair
Market Value as of the date of such amendment or termination over the exercise or base price of such Award);
		
	 (b)
	  	The original term of an Option or SAR may not be extended without the prior approval of the shareowners of the Company;

  
 26 

			
	(c)	  	Except as otherwise provided in Section 14.1, the exercise price of an Option or base price of a SAR may not be reduced, directly or indirectly, without the prior approval of the shareowners of the Company; and
		
	(d)	  	No termination, amendment, or modification of the Plan shall adversely affect any Award previously granted under the Plan, without the written consent of the Participant affected thereby. An outstanding Award shall not be deemed to
be “adversely affected” by a Plan amendment if such amendment would not reduce or diminish the value of such Award determined as if the Award had been exercised, vested, cashed in or otherwise settled on the date of such amendment (with
the per-share value of an Option or SAR for this purpose being calculated as the excess, if any, of the Fair Market Value as of the date of such amendment over the exercise or base price of such
Award).

 15.3. COMPLIANCE AMENDMENTS. Notwithstanding anything in the Plan or in any Award Certificate to the
contrary, the Board may amend the Plan or an Award Certificate, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming the Plan or Award Certificate to any present or future law relating to plans of
this or similar nature (including, but not limited to, Section 409A of the Code), and to the administrative regulations and rulings promulgated thereunder. By accepting an Award under this Plan, a Participant agrees to any amendment made
pursuant to this Section 15.3 to any Award granted under the Plan without further consideration or action. 
 ARTICLE 16 

GENERAL PROVISIONS 
 16.1.
RIGHTS OF PARTICIPANTS. 
  

			
	(a)	  	No Participant or any Eligible Participant shall have any claim to be granted any Award under the Plan. Neither the Company, its Affiliates nor the Committee is obligated to treat Participants or Eligible Participants uniformly, and
determinations made under the Plan may be made by the Committee selectively among Eligible Participants who receive, or are eligible to receive, Awards (whether or not such Eligible Participants are similarly situated).
		
	(b)	  	Nothing in the Plan, any Award Certificate or any other document or statement made with respect to the Plan, shall interfere with or limit in any way the right of the Company or any Affiliate to terminate any Participant’s
employment or status as an officer, or any Participant’s service as a director, at any time, nor confer upon any Participant any right to continue as an employee, officer, or director of the Company or any Affiliate, whether for the duration of
a Participant’s Award or otherwise.

  

  
 27 

			
	(c)	  	Neither an Award nor any benefits arising under this Plan shall constitute an employment contract with the Company or any Affiliate and, accordingly, subject to Article 15, this Plan and the benefits hereunder may be terminated at
any time in the sole and exclusive discretion of the Committee without giving rise to any liability on the part of the Company or an of its Affiliates.
		
	(d)	  	No Award gives a Participant any of the rights of a shareowner of the Company unless and until Shares are in fact issued to such person in connection with such Award.

 16.2. WITHHOLDING. The Company or any Affiliate shall have the authority and the right to deduct or
withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes (including the Participant’s FICA obligation in the United States and any social tax obligations for any non-U.S. jurisdiction) required by law to be withheld with respect to any exercise, lapse of restriction or other taxable event arising as a result of the Plan. The obligations of the Company under the Plan will be
conditioned on such payment or arrangements and the Company or such Affiliate will, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the Participant. Unless otherwise determined by
the Committee at the time the Award is granted or thereafter, any such withholding requirement may be satisfied, in whole or in part, by withholding from the Award Shares having a Fair Market Value on the date of withholding equal to the minimum
amount (and not any greater amount) required to be withheld for tax purposes, all in accordance with such procedures as the Committee establishes. All such elections shall be subject to any restrictions or limitations that the Committee, in its sole
discretion, deems appropriate. For certain Participants designated by the Company, the Company shall also have the authority and the right to deduct or withhold additional amounts to satisfy federal, state or local taxes up to a maximum amount of
85% of the Award at the election of the Participant. 
 16.3. IMPACT OF RESTATEMENT OF FINANCIAL STATEMENTS UPON PREVIOUS AWARDS. If
any of the Company’s financial statements are required to be restated, resulting from errors, omissions, or fraud, the Committee may (in its sole discretion, but acting in good faith) direct that the Company recover all or a portion of any such
Award made to any, all or any class of Participants with respect to any fiscal year of the Company the financial results of which are negatively affected by such restatement. The amount to be recovered from any Participant shall be the amount by
which the affected Award(s) exceeded the amount that would have been payable to such Participant had the financial statements been initially filed as restated, or any greater or lesser amount (including, but not limited to, the entire award) that
the Committee shall determine. The Committee may determine to recover different amounts from different Participants or different classes of 

  
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Participants on such bases as it shall deem appropriate. In no event shall the amount to be recovered by the Company be less than the amount required to be repaid or recovered as a matter of law.
The Committee shall determine whether the Company shall effect any such recovery (i) by seeking repayment from the Participant, (ii) by reducing (subject to applicable law and the terms and conditions of the applicable plan, program or
arrangement) the amount that would otherwise be payable to the Participant under any compensatory plan, program or arrangement maintained by the Company or any of its affiliates, (iii) by withholding payment of future increases in compensation
(including the payment of any discretionary bonus amount) or grants of compensatory awards that would otherwise have been made in accordance with the Company’s otherwise applicable compensation practices, or (iv) by any combination of the
foregoing. 
 16.4. SPECIAL PROVISIONS RELATED TO SECTION 409A OF THE CODE. 

 

			
	(a)	  	General. It is intended that the payments and benefits provided under the Plan and any Award shall either be exempt from the application of, or comply with, the requirements of Section 409A of the Code. The Plan and all
Award Certificates shall be construed in a manner that effects such intent. Nevertheless, the tax treatment of the benefits provided under the Plan or any Award is not warranted or guaranteed. Neither the Company, its Affiliates nor their respective
directors, officers, employees or advisers (other than in his or her capacity as a Participant) shall be held liable for any taxes, interest, penalties or other monetary amounts owed by any Participant or other taxpayer as a result of the Plan or
any Award.
		
	(b)	  	Definitional Restrictions. Notwithstanding anything in the Plan or in any Award Certificate to the contrary, to the extent that any amount or benefit that would constitute non-exempt
“deferred compensation” for purposes of Section 409A of the Code (“Non-Exempt Deferred Compensation”) would otherwise be payable or distributable, or a different form of payment
(e.g., lump sum or installment) of such Non-Exempt Deferred Compensation would be effected, under the Plan or any Award Certificate by reason of the occurrence of a Change in Control, or the Participant’s
Disability or separation from service, such Non-Exempt Deferred Compensation will not be payable or distributable to the Participant, and/or such different form of payment will not be effected, by reason of
such circumstance unless the circumstances giving rise to such Change in Control, Disability or separation from service meet any description or definition of “change in control event”, “disability” or “separation from
service”, as the case may be, in Section 409A of the Code and applicable regulations (without giving effect to any elective provisions that may be available under such definition). This provision does not affect the dollar amount or
prohibit the vesting of such Non-Exempt Deferred

  

  
 29 

			
		  	Compensation upon a Change in Control, Disability or separation from service, however defined. If this provision prevents the payment or distribution of any Non-Exempt Deferred Compensation,
or the application of a different form of payment, such payment or distribution shall be made at the time and in the form that would have applied absent the non-409A-conforming event.
		
	(c)	  	Allocation among Possible Exemptions. If any one or more Awards granted under the Plan to a Participant could qualify for any separation pay exemption described in Treas. Reg.
Section 1.409A-1(b)(9), but such Awards in the aggregate exceed the dollar limit permitted for the separation pay exemptions, the Company (acting through the Committee or the Head of Human Resources)
shall determine which Awards or portions thereof will be subject to such exemptions.
		
	(d)	  	Six-Month Delay in Certain Circumstances. Notwithstanding anything in the Plan or in any Award Certificate to the contrary, if any amount or benefit that would constitute Non-Exempt Deferred Compensation would otherwise be payable or distributable under this Plan or any Award Certificate by reason of a Participant’s separation from service during a period in which the
Participant is a Specified Employee (as defined below), then, subject to any permissible acceleration of payment by the Committee under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order),
(j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes):

 (i) the amount of such non-exempt deferred compensation that would otherwise be
payable during the six-month period immediately following the Participant’s separation from service will be accumulated through and paid or provided on the first day of the seventh month following the
Participant’s separation from service (or, if the Participant dies during such period, within 30 days after the Participant’s death) (in either case, the “Required Delay Period”); and 

(ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period. 

For purposes of this Plan, the term “Specified Employee” has the meaning given such term in Code Section 409A and the final regulations
thereunder, provided, however, that, as permitted in such final regulations, the Company’s Specified Employees and its application of the six-month delay rule of Code
Section 409A(a)(2)(B)(i) shall be determined in accordance with rules adopted by the Board or any committee of the Board, which shall be applied consistently with respect to all nonqualified deferred compensation arrangements of the Company,
including this Plan. 

  
 30 

			
	(e)	  	Installment Payments. If, pursuant to an Award, a Participant is entitled to a series of installment payments, such Participant’s right to the series of installment payments shall be treated as a right to a series of
separate payments and not to a single payment. For purposes of the preceding sentence, the term “series of installment payments” has the meaning provided in Treas. Reg.
Section 1.409A-2(b)(2)(iii) (or any successor thereto).
		
	(f)	  	Timing of Release of Claims. Whenever an Award conditions a payment or benefit on the Participant’s execution and non-revocation of a release of claims, such release must be
executed and all revocation periods shall have expired within 60 days after the date of termination of the Participant’s employment; failing which such payment or benefit shall be forfeited. If such payment or benefit is exempt from
Section 409A of the Code, the Company may elect to make or commence payment at any time during such 60-day period. If such payment or benefit constitutes Non-Exempt
Deferred Compensation, then, subject to subsection (c) above, (i) if such 60-day period begins and ends in a single calendar year, the Company may make or commence payment at any time during such period
at its discretion, and (ii) if such 60-day period begins in one calendar year and ends in the next calendar year, the payment shall be made or commence during the second such calendar year (or any later
date specified for such payment under the applicable Award), even if such signing and non-revocation of the release occur during the first such calendar year included within such
60-day period. In other words, a Participant is not permitted to influence the calendar year of payment based on the timing of signing the release.
		
	(g)	  	Permitted Acceleration. The Company shall have the sole authority to make any accelerated distribution permissible under Treas. Reg. Section 1.409A-3(j)(4) to Participants of
deferred amounts, provided that such distribution(s) meets the requirements of Treas. Reg. Section 1.409A-3(j)(4).

 16.5. UNFUNDED STATUS OF AWARDS. The Plan is intended to be an “unfunded” plan for incentive
and deferred compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Certificate shall give the Participant any rights that are greater than those of a general
creditor of the Company or any Affiliate. This Plan is not intended to be subject to ERISA. 

  
 31 

 16.6. RELATIONSHIP TO OTHER BENEFITS. No payment under the Plan shall be taken into
account in determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or benefit plan of the Company or any Affiliate unless provided otherwise in such other plan. 

16.7. EXPENSES. The expenses of administering the Plan shall be borne by the Company and its Affiliates. 

16.8. TITLES AND HEADINGS. The titles and headings of the Sections in the Plan are for convenience of reference only, and in the event
of any conflict, the text of the Plan, rather than such titles or headings, shall control. 
 16.9. GENDER AND NUMBER. Except where
otherwise indicated by the context, any masculine term used herein also shall include the feminine and any feminine term used herein also shall include the masculine; the plural shall include the singular and the singular shall include the plural.

 16.10. FRACTIONAL SHARES. No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash
shall be given in lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down. 
 16.11.
GOVERNMENT AND OTHER REGULATIONS. 
  

			
	(a)	  	Notwithstanding any other provision of the Plan, no Participant who acquires Shares pursuant to the Plan may, during any period of time that such Participant is an affiliate of the Company (within the meaning of the rules and
regulations of the Securities and Exchange Commission under the Securities Act), sell such Shares, unless such offer and sale is made (i) pursuant to an effective registration statement under the Securities Act, which is current and includes
the Shares to be sold, or (ii) pursuant to an appropriate exemption from the registration requirement of the Securities Act, such as that set forth in Rule 144 promulgated under the Securities Act.
		
	(b)	  	Notwithstanding any other provision of the Plan, if at any time the Committee shall determine that the registration, listing or qualification of the Shares covered by an Award upon any Exchange or under any foreign, federal, state
or local law or practice, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of, or in connection with, the granting of such Award or the purchase or receipt of Shares thereunder, no Shares may
be purchased, delivered or received pursuant to such Award unless and until such registration, listing,

  
 32 

			
	    	  	qualification, consent or approval shall have been effected or obtained free of any condition not acceptable to the Committee. Any Participant receiving or purchasing Shares pursuant to an Award shall make such representations and
agreements and furnish such information as the Committee may request to assure compliance with the foregoing or any other applicable legal requirements. The Company shall not be required to issue or deliver any certificate or certificates for Shares
under the Plan prior to the Committee’s determination that all related requirements have been fulfilled. The Company shall in no event be obligated to register any securities pursuant to the Securities Act or applicable state or foreign law or
to take any other action in order to cause the issuance and delivery of such certificates to comply with any such law, regulation or requirement.

 16.12. GOVERNING LAW. To the extent not governed by federal law, the Plan and all Award
Certificates shall be construed in accordance with and governed by the laws of the State of Delaware. 
 16.13. SEVERABILITY. In
the event that any provision of this Plan is found to be invalid or otherwise unenforceable under any applicable law, such invalidity or unenforceability will not be construed as rendering any other provisions contained herein as invalid or
unenforceable, and all such other provisions will be given full force and effect to the same extent as though the invalid or unenforceable provision was not contained herein. 

16.14. NO LIMITATIONS ON RIGHTS OF COMPANY. The grant of any Award shall not in any way affect the right or power of the Company to make
adjustments, reclassification or changes in its capital or business structure or to merge, consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets. The Plan shall not restrict the authority of the Company, for
proper corporate purposes, to draft or assume awards, other than under the Plan, to or with respect to any person. If the Committee so directs, the Company may issue or transfer Shares to an Affiliate, for such lawful consideration as the Committee
may specify, upon the condition or understanding that the Affiliate will transfer such Shares to a Participant in accordance with the terms of an Award granted to such Participant and specified by the Committee pursuant to the provisions of the
Plan. 
 16.15. INDEMNIFICATION. Each person who is or shall have been a member of the Committee, or of the Board, or an officer of
the Company to whom authority was delegated in accordance with Article 4 shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her
in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan and against and from any and

  
 33 

 
all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such action, suit, or proceeding against him
or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf, unless such loss, cost, liability, or expense is a
result of his or her own willful misconduct or except as expressly provided by statute. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the
Company’s charter or bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 

  
 34

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