Document:

EX-10.1

Exhibit 10.1

NATIONAL FUEL GAS COMPANY

2010 EQUITY COMPENSATION PLAN

SECTION 1

PURPOSE

The purpose of the Plan is to is advance the interests of the Company and its stockholders by
(i) incentivizing superior performance of Employees of the Company and its Subsidiaries by means of
a long term, equity based compensation program and (ii) enhancing the ability of the Company and
its Subsidiaries to attract and retain in its employ highly qualified persons for the successful
conduct of their businesses.

SECTION 2

DEFINITIONS

“Adjustment Event” means any stock dividend, stock split or share combination in respect of,
or extraordinary cash dividend on, the Common Stock or any recapitalization, reorganization,
merger, consolidation, split-up, spin-off, combination, dissolution, liquidation, exchange of
shares, warrants or rights offering to purchase Common Stock at a price substantially below Fair
Market Value, or other similar event affecting the Common Stock.

“Alternative Award” has the meaning ascribed to it in Section 12 of this Plan.

“Award” means any grant of an Option, a SAR, a Restricted Stock Unit, Restricted Stock, a
Performance Award or Other Stock-Based Award under this Plan.

“Award Notice” means a notice from the Company to a Participant, in electronic or written
form, that sets forth the terms and conditions of an Award, in addition to those terms and
conditions established by this Plan and by the Committee’s exercise of its administrative powers.

“Board” means the Board of Directors of the Company.

“Cause” means (i) the willful and continued failure by an Employee (regardless of the
Employee’s age) to substantially perform his duties with his Employer after written warnings
specifically identifying the lack of substantial performance are delivered to him by his Employer,
or (ii) the willful engaging by an Employee (regardless of the Employee’s age) in illegal conduct
which is materially and demonstrably injurious to the Company or a Subsidiary.

“Change in Control” shall be deemed to have occurred at such time as:

(i) any “person” within the meaning of Section 13(d) of the Exchange Act, other than the
Company, a Subsidiary, or any employee benefit plan or plans sponsored by the Company or any
Subsidiary, is or has become the “beneficial owner,” as defined in Rule 13d-3 under the Exchange
Act, directly or indirectly, of twenty percent (20%) or more of the combined voting power of the
outstanding securities of the Company ordinarily having the right to vote at the election of
directors or more than twenty percent (20%) of the fair market value of all classes of the
Company’s outstanding stock;

(ii) consummation of any consolidation or merger immediately following which the persons
who, immediately prior to the consolidation or merger, held the capital stock of the Company do
not hold, immediately following such transaction, (x) at least a majority of the stock ordinarily
entitled to vote in the election of directors of the corporation surviving such consolidation or
merger (or of the ultimate parent corporation in an unbroken chain which owns, directly or
indirectly, a majority of the capital stock of such entity) or (y) stock in the entity described
in subclause (x) that represents at least 50% of the fair market value of all classes of stock of
such entity, in either case, in substantially the same proportionate ownership as such persons
held immediately before such consolidation or merger,

(iii) any sale, lease, exchange or other transfer (in one transaction or a series of related
transactions) of all or substantially all the assets of the Company; or

(iv) individuals who constitute the Board at the beginning of the 12 month period ended on
the date of determination (the “Incumbent Board”) have ceased for any reason to constitute at
least a majority thereof, provided that any person becoming a director subsequent to such date
whose election, or nomination for election by the Company’s stockholders, was approved by a vote
of at least 75% of the directors then comprising the Incumbent Board (either by specific vote or
by approval of the proxy statement of the Company in which such person is named as nominee for
director without objection to such nomination) shall be, for purposes of this Plan, considered as
though such person were a member of the Incumbent Board.

“Code” means the Internal Revenue Code of 1986, as amended from time to time.

“Committee” means the Compensation Committee of the Board, or such other committee designated
by the Board, authorized to administer the Plan.

“Common Stock” means the common stock of the Company.

“Company” means National Fuel Gas Company.

“Disability”, with respect to any Participant occurs, unless otherwise provided for in an
Award Notice, when and if, as a result of disease, injury or mental disorder, the Participant is
incapable of engaging in regular employment or occupation with the Company or a Subsidiary and if
and so long as the Social Security Administration has determined that the Participant is disabled;
provided that, the Participant will not be considered to have a Disability under the Plan if the
condition giving rise to the disability (i) was contracted, suffered or incurred by reason of being
or having been engaged in any criminal or illegal activity, (ii) resulted from the Participant’s
habitual drunkenness or narcotic or drug addiction, (iii) resulted from an intentionally
self-inflicted injury or (iv) resulted from service in the armed forces for which a military
allowance or pension is paid.

“Dividend Equivalents” means an amount equal to the regular cash dividends paid by the Company
upon one share of Common Stock.

“Effective Date” means the date following adoption of this Plan by the Board, on which this
Plan is approved by a majority of the votes cast at a duly constituted meeting of the shareholders
of the Company.

“Employee” means an officer or other management employee of the Company or Subsidiary.

“Employer” means, with respect to any Employee or Participant, whichever of the Company or any
of its Subsidiaries employs such person.

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

“Executive Officer” means any “officer” within the meaning of Rule 16a-1(f) promulgated under
the Exchange Act.

“Fair Market Value” of a share of Common Stock on any date means the average of the high and
low sales prices of a share of Common Stock as reflected in the next day reports of the high and
low sales prices of a share of Company Common Stock, as reported on either www.bloomberg.com or
www.yahoo.com (or, if no such shares were publicly traded on that date, the next preceding date
that such shares were so traded); provided, however, that if shares of Common Stock shall not have
been traded for more than five (5) trading days immediately preceding such date, Fair Market Value
shall mean the closing price on the immediately preceding date on which stock transactions were so
reported.

“Grant Price” means, with respect to a SAR, the Fair Market Value of a share of Common Stock
measured as of the date the SAR is granted to a Participant or such greater amount as shall be
determined by the Committee and specified in the applicable Award Notice.

“ISO” means an Option that is an “incentive stock option” within the meaning of section 422 of
the Code.

“Nonqualified Stock Option” means an Option that is not an ISO.

“Option” means the right to purchase Common Stock at a stated price for a specified period of
time. For purposes of the Plan, an Option may be either (i) an ISO or (ii) Nonqualified Stock
Option.

“Other Stock-Based Award” means an Award made pursuant to, and in accordance with the
requirements of Section 10 of the Plan.

“Participant” means any individual to whom an Award has been granted by the Committee under
this Plan.

“Performance Awards” means Awards of Performance Shares or Performance Units, or any other
Award granted under this Plan, the vesting of which is conditioned upon attainment of Performance
Goals.

“Performance Cycle” means the period selected by the Committee during which the performance of
the Company or any Subsidiary or unit thereof or any individual is measured for the purpose of
determining the extent to which an Award subject to Performance Goals has been earned.

“Performance Goals” means the objectives for the Company, any Subsidiary or business unit
thereof, or Participant that may be established by the Committee for a Performance Cycle with
respect to any performance-based Awards contingently granted under the Plan. The performance
measure(s) to be used for purposes of Awards granted under the Plan shall include one or more
measures chosen from among the following, as applied to the Company or to any Subsidiary or
combination of Subsidiaries, whether on a relative or a comparative basis: (i) earnings per share,
(ii) net income (before or after taxes), (iii) return measures (including, but not limited to,
return on assets, equity or sales), (iv) cash flow return on investments which equals net cash
flows divided by owners equity, (v) earnings before or after taxes, depreciation and/or
amortization; (vi) gross revenues, (vii) operating income (before or after taxes); (viii) total
shareholder return, (vi) corporate performance indicators (indices based on the level of certain
expenses, certain objectively measurable operational events or certain services provided to
customers), (x) cash generation, profit and/or revenue targets, (xi) growth measures, including
revenue growth, reserve growth or reserve replacement, whether or not as compared to a peer group
or other benchmark and/or (xii) share price (including, but not limited to, growth measures and
total shareholder return). In setting performance goals using these performance measures, and in
determining actual performance relative to these performance measures, the Committee may exclude
the effect of changes in accounting standards and events impacting the comparability of results of
operations or financial condition, as specified by the Committee, such as write-offs, capital gains
and losses, and acquisitions and dispositions of businesses.

“Performance Shares” means an Award constituting units denominated in Common Stock, the number
of which such units may be adjusted over a Performance Cycle based upon the extent to which
Performance Goals have been satisfied.

“Performance Unit” means a dollar denominated unit (or a unit denominated in the Participant’s
local currency) granted pursuant the Plan, payable upon the extent of the achievement of the
applicable Performance Goals.

“Permitted Transferees” has the meaning ascribed to it in Section 14 of this Plan.

“Plan” means this National Fuel Gas Company 2010 Equity Compensation Plan. Any reference in
the Plan to a Section or paragraph number refers to that portion of the Plan.

“Restricted Period” means the period of time during which Restricted Stock Units or shares of
Restricted Stock are subject to forfeiture or restrictions on transfer (if applicable) pursuant to
Section 8 of the Plan.

“Restricted Stock” means Common Stock awarded to a Participant pursuant to the Plan that is
subject to forfeiture and restrictions on transferability in accordance with Section 8 of the Plan.

“Restricted Stock Unit” means a Participant’s right to receive, pursuant to Section 8 of this
Plan, one share of Common Stock (or the equivalent value thereof in cash), at the end of a
specified period of time, which right is subject to forfeiture in accordance with Section 8 of the
Plan.

“Retirement” means, unless another definition is incorporated into the applicable Award
Notice, a termination of the Participant’s employment or service at or after the Participant
reaches age 60, but not including a termination for Cause.

“Section 409A” means Section 409A of the Code and the applicable rules, regulations and
guidance promulgated thereunder.

“Settlement Payment” has the meaning ascribed to it in Section 12 of this Plan.

“Stock Appreciation Right” or “SAR” means a stock appreciation right granted under Section 7
of the Plan in respect of one or more shares of Common Stock that entitles the holder thereof to
receive, in cash or Common Stock as determined by the Committee in its discretion (which discretion
may be exercised at or after grant, including after exercise of the SAR), an amount per share of
Common Stock equal to the excess, if any, of the Fair Market Value on the date the SAR is exercised
over the Grant Price.

“Subsidiary” means a corporation or other business entity in which the Company directly or
indirectly has an ownership interest of more than fifty percent (50%).

“Trust” has the meaning ascribed to it in Section 14(a) of the Plan.

SECTION 3

ADMINISTRATION

(a) Administration.  The Plan shall be administered by the Committee. The Committee
shall have sole and complete authority to (i) interpret the Plan and Awards made under the Plan,
including by resolving any omission or correcting any defect in the Plan or any Award,
(ii) establish such administrative rules, regulations and procedures as it deems necessary or
appropriate for the proper administration of the Plan, (iii) select the Employees to receive Awards
under the Plan, (iv) determine the form of each Award, the number of shares subject to each Award
and all the terms and conditions of each Award, (v) determine whether Awards are to be granted
singly, in combination or in the alternative, (vi) grant waivers of Plan terms and conditions
(vii) modify an Award, to the extent permissible by applicable law, including without limitation
Section 409A, and (viii) take any and all other action it deems advisable for the proper
administration of the Plan. Notwithstanding the foregoing, without the express approval of
stockholders, the Committee shall not have the authority to grant Awards in replacement of Awards
previously granted under the Plan. All determinations of the Committee shall be final, binding and
conclusive.

(b) Delegation by the Committee.  Notwithstanding any other provision of this Plan or
an Award Notice, but subject to applicable law, the Committee, in its discretion, may delegate its
authority and duties under the Plan to the Chief Executive Officer or to other senior officers of
the Company, provided, however, that only the Committee may select and grant Awards and render
other decisions as to the timing, pricing and amount of Awards to Participants who are Executive
Officers.

(c) Indemnification.  No member of the Committee shall be personally liable for any
act, omission or determination relating to the Plan, and the Company shall indemnify and hold
harmless each member of the Committee and each other director or employee of the Company to whom
any duty or power relating to the administration or interpretation of the Plan has been delegated,
against any cost or expense (including counsel fees) or liability (including any sum paid in
settlement of a claim with the approval of the Committee) arising out of any action, omission or
determination related to the Plan, if, in any case, such member, director or employee made or took
such action, omission, or determination in good faith and in a manner such person reasonably
believed to be in or not opposed to the best interests of the Company and, with respect to any
criminal action or proceeding, such person had no reasonable cause to believe his or her conduct
was unlawful.

(d) 409A Compliance.  The Plan is intended to be administered in a manner consistent
with the requirements, where applicable, of Section 409A. Where reasonably possible and
practicable, the Plan shall be administered in a manner to avoid the imposition on Participants of
immediate tax recognition and additional taxes pursuant to Section 409A. Notwithstanding the
foregoing, neither the Company nor the Committee, nor any of the Company’s directors, officers or
employees shall have any liability to any person in the event Section 409A applies to any such
Award in a manner that results in adverse tax consequences for the Participant or any of his
beneficiaries or transferees.

SECTION 4

ELIGIBILITY

The Committee may grant an Award pursuant to the Plan to any Employee it shall designate. The
Committee may grant any or all of the Awards specified herein to any particular Participant
(subject to the applicable limitations set forth in the Plan). Receipt of an Award of one type, or
in any year or other period, shall neither entitle an Employee to receive, nor disqualify an
Employee from receiving, another type of Award, or an Award in any future year or period. An Award
may be made for one year or multiple years without regard to whether any other type of Award is
made for the same year or years.

SECTION 5

SHARES AVAILABLE FOR AWARDS

(a) Number.  Subject to the provisions of this Section 5, the maximum number of shares
of Common Stock that are available for Awards under the Plan shall not exceed three million
(3,000,000) shares. For purposes of determining compliance with the limit set forth in this
Section 5(a), any shares subject to an Award which is (i) an Option or SAR shall be counted against
this limit as one (1) share for every share subject to such Award, and (ii) not an Option or SAR
shall be counted against such limit as 1.8 shares for every share subject to such Award.
Notwithstanding the foregoing, if an Award is issued in tandem with any other Award (such that it
is only possible to benefit under either but not both Awards), the shares subject to such Awards
shall be counted only once against such limit, based on the Award that represents the greatest
allocation of shares for this purpose.

(b) Individual Limitations.  Subject to the provisions of Section 5(d), the following
individual Award limits apply:

(i) Options, SARs.  No Participant may receive in any calendar year a grant of
Options and/or SARs in respect of more than 750,000 shares of Common Stock.

(ii) Performance-Based Limitations.  To the extent that any Award, other than an
Option or SAR, granted to an Executive Officer is intended to satisfy the requirements of Code
section 162(m)(4)(C) as “other performance-based compensation,” the maximum aggregate amount of
such Award(s) granted to such Participant in any 12 month period shall not exceed 375,000 shares
with respect to any Performance Share Award or $2,500,000 with respect to any Performance Unit
Award; provided, however, that the amount of shares or cash payable in respect of any such Award
upon superior achievement in respect of the applicable Performance Goal may equal up to twice the
amount specified above.

(c) Canceled, Terminated, or Forfeited Awards, etc.  Any shares of Common Stock
subject to an Award (or any portion thereof) which for any reason lapses, is canceled, forfeited or
terminated or otherwise is settled without the issuance of Common Stock shall be available for
future grants under the Plan. The number of shares available for grant pursuant to the immediately
preceding sentence shall be determined based on the number of shares counted against the limit in
Section 5(a) with respect to the grant of the corresponding Award. Similarly, any shares subject to
an award previously granted under the 1997 Award and Option Plan which for any reason lapses, is
canceled, forfeited or terminated or otherwise is settled without the issuance of Common Stock, in
each such case after the Effective Date, shall be available for future grants under the Plan in
addition to those shares made available under Section 5(a). Notwithstanding the foregoing, the
following shares of Common Stock shall not be available for the grant of Awards under the Plan:
(i) shares of Common Stock not issued or delivered as a result of the net settlement of a Stock
Appreciation Right or Option, (ii) shares of Common Stock used to pay the exercise price or
withholding taxes related to an Award, or (iii) shares of Common Stock repurchased on the open
market with the proceeds from the exercise of any Option.

(d) Adjustment in Capitalization.  In the event of any Adjustment Event, (i) the
aggregate number of shares of Common Stock available for Awards under this Section 5, (ii) the
aggregate limitations on the number of shares that may be awarded as a particular type of Award or
that may be awarded to any particular Participant in any particular period under Section 5(c) and
(iii) the aggregate number of shares subject to outstanding Awards and the respective exercise
prices or Grant Prices applicable to outstanding Awards shall be equitably adjusted by the
Committee, in its discretion, with respect to such Adjustment Event. To the extent deemed equitable
and appropriate by the Committee and subject to any required action by shareholders of the Company
or of any successor in interest to the Company or any direct or indirect parent corporation of the
Company or any such successor, in any Adjustment Event that is a merger, consolidation,
reorganization, liquidation, dissolution or similar transaction, any Award granted under the Plan
shall be deemed to pertain to the securities and other property, including cash, to which a holder
of the number of shares of Common Stock covered by the Award would have been entitled to receive in
connection with such Adjustment Event. Any determination made by the Committee pursuant to this
Section 5(d) shall be final, binding and conclusive.

SECTION 6

STOCK OPTIONS

(a) Grants.  ISOs and Nonqualified Stock Options may be granted to Participants at
such time or times as shall be determined by the Committee. Except as otherwise provided herein,
the Committee shall have complete discretion in determining the number of Options, if any, to be
granted to a Participant, provided that ISOs may only be granted to eligible Participants who
satisfy the requirements for eligibility set forth under section 424 of the Code, and further
provided that Dividend Equivalents shall not be paid or payable on any Option. The grant date of an
Option under the Plan will be the date on which the Option is awarded by the Committee, or a
specified date in the future including a date relating to the satisfaction of any condition or
conditions to the effectiveness of such grant as the Committee shall specify in its sole
discretion. Each Option shall be evidenced by an Award Notice that shall specify the type of Option
granted, the exercise price, the duration of the Option, the number of shares of Common Stock to
which the Option pertains, the conditions upon which the Option or any part thereof shall become
vested or exercisable and such other terms and conditions not inconsistent with the Plan as the
Committee shall determine. An Award Notice which does not specify the type of Option granted shall
be deemed to specify that each Option granted in that Award Notice shall be a Nonqualified Stock
Option.

(b) Exercise Price; No Repricing.  The price at which Common Stock may be purchased
upon exercise of an Option shall be established by the Committee, but such price shall not be less
than the Fair Market Value of the Common Stock on the grant date of the Option. The Committee shall
not have the right to reprice an Option under this Plan, including by (i) amending an Option to
reduce its exercise price, (ii) canceling an Option at a time when its exercise price exceeds the
Fair Market Value of one share in exchange for an Option, SAR, Restricted Stock, Stock Unit or
other equity award, unless the cancellation or exchange occurs in connection with a merger,
acquisition, spin-off or other similar corporate transaction or (iii) taking any other action that
is treated as a repricing under generally accepted accounting principles, provided, however, that
adjustments pursuant to Section 5(d) shall not be deemed to be a repricing that is prohibited by
this Section 6(b).

(c) Vesting and Exercisability.  Unless otherwise provided in Section 11 hereof or in
the Participant’s Award Notice, each Option awarded to a Participant under the Plan shall become
vested and exercisable in three equal annual installments, subject to the Participant’s continued
employment with the Company or Subsidiary through such date. The Committee may provide that Options
may also become exercisable, in whole or in part, upon the occurrence of any event specified in the
Plan or other condition specified by the Committee at or after the grant date of the applicable
Option. In its discretion, the Committee may establish in the Award Notice, conditions based on
Performance Goals (in lieu of, or in addition to, time-based vesting) with respect to the
exercisability of any Option. No Option shall be exercisable after the tenth anniversary of its
grant date.

(d) ISOs.  Notwithstanding anything in the Plan to the contrary, no Option that is
intended to be an ISO may be granted after the tenth anniversary of the Effective Date of the Plan.
No term of this Plan relating to ISOs shall be interpreted, amended or altered, nor shall any
discretion or authority granted under the Plan be so exercised, so as to disqualify the ISO or the
Plan under Section 422 of the Code, or, without the consent of any Participant affected thereby, to
disqualify any ISO under such Section 422. The number of shares of Common Stock that shall be
available for ISOs granted under the Plan is three million (3,000,000) shares.

(e) Payment.  The Committee shall establish procedures governing the exercise of
Options. No shares shall be delivered pursuant to any exercise of an Option unless arrangements
satisfactory to the Committee have been made to assure full payment of the exercise price
therefore. Payment of the exercise price of an Option may be paid (i) in cash or its equivalent,
(ii) by exchanging shares of Common Stock or shares of Restricted Stock, (iii) a combination of the
foregoing or (iv) pursuant to such other arrangements as the Committee may deem appropriate,
including a cashless exercise program. The Committee, in its sole discretion, may adopt
administrative rules, regulations or procedures with respect to any method of exercising an Option,
including pursuant to a cashless exercise program, if permitted. The Company may not make a loan to
a Participant to facilitate such Participant’s exercise of any of his or her Options or payment of
taxes.

SECTION 7

STOCK APPRECIATION RIGHTS

(a) Grants.  Awards may be granted in the form of Stock Appreciation Rights and may be
granted to any Employee at such time or times as shall be determined by the Committee. Stock
Appreciation Rights may be granted on a stand-alone basis or in tandem with another Award granted
under the Plan. The grant date of a Stock Appreciation Right under the Plan will be the date on
which the Stock Appreciation Right is awarded by the Committee, or a specified date in the future,
including a date relating to the satisfaction of any such condition or conditions to the
effectiveness of such grant as the Committee shall specify in its sole discretion. Stock
Appreciation Rights shall be evidenced by an Award Notice, whether as part of an Award Notice
governing the terms of the Options, if any, to which such Stock Appreciation Rights relate or
pursuant to a separate Award Notice with respect to freestanding Stock Appreciation Rights, in each
case containing such provisions not inconsistent with the Plan as the Committee shall determine,
provided that Dividend Equivalents shall not be paid or payable on any Stock Appreciation Right.

(b) Terms and Conditions of SARs.  Except as otherwise determined by the Committee at
or after grant and subject to the Participant’s continued employment or service with the Company or
a Subsidiary through such date, each Stock Appreciation Right awarded to a Participant under the
Plan shall become vested and exercisable in accordance with the vesting schedule provided in the
applicable Award Notice, but in no event later than ten years from the date of grant. Unless
otherwise provided in Section 11 hereof or in the Participant’s Award Notice, each SAR awarded to a
Participant under the Plan shall become vested and exercisable in three equal annual installments,
subject to the Participant’s continued employment with the Company or Subsidiary through such date.
Stock Appreciation Rights may also become exercisable, in whole or in part, upon the occurrence of
any event or events as specified in the Plan or specified by the Committee, in its discretion,
either at or after the grant date of the applicable Stock Appreciation Right. In its discretion,
the Committee may also establish conditions based on Performance Goals (in lieu of, or in addition
to, time based vesting) with respect to the exercisability of any Stock Appreciation Rights. No
Stock Appreciation Rights shall be exercisable after the tenth anniversary of their grant date. The
Committee may impose such conditions with respect to the exercise of Stock Appreciation Rights,
including without limitation, any conditions relating to the application of federal or state
securities laws, as it may deem necessary or advisable. Notwithstanding the foregoing sentence, the
Committee shall not have the right to reprice a SAR under this Plan, including by (i) amending a
SAR to reduce its Grant Price, (ii) canceling a SAR at a time when its Grant Price exceeds the Fair
Market Value of one share in exchange for an Option, SAR, Restricted Stock, Stock Unit or other
equity award, unless the cancellation or exchange occurs in connection with a merger, acquisition,
spin-off or other similar corporate transaction or (iii) taking any other action that is treated as
a repricing under generally accepted accounting principles, provided, however, that adjustments
pursuant to Section 5(d) shall not be deemed to be a repricing that is prohibited by this
Section 7(b).

(c) Deemed Exercise.  Any SAR not already exercised shall be deemed to be
exercised at the close of business on the scheduled expiration date of such SAR, if at such time
the SAR by its terms remains exercisable and, if so exercised, would result in a payment to the
holder of such SAR

(d) Payment of SAR Amount.  Upon exercise of a SAR, the holder shall be entitled to
receive payment, in cash, in shares of Common Stock or in a combination thereof, as determined by
the Committee, of an amount determined by multiplying:

(i) the excess, if any, of the Fair Market Value at the date of exercise over the Grant
Price, by

(ii) the number of shares of Common Stock with respect to which the SARs are then being
exercised; provided that, at the time of grant with respect to any SAR payable in cash, the
Committee may establish in the Award Notice, in its solediscretion, a maximum amount per share
which will be payable upon the exercise of such SAR.

SECTION 8

RESTRICTED STOCK; RESTRICTED STOCK UNITS

(a) Grants.  Restricted Stock and Restricted Stock Units may be granted to
Participants at such time or times as shall be determined by the Committee. The grant date of any
Restricted Stock or Restricted Stock Units under the Plan will be the date on which such Restricted
Stock or Restricted Stock Units are awarded by the Committee, or a specified date in the future,
including a date related to the satisfaction of any such condition or conditions to the
effectiveness of such grant as the Committee shall specify in its sole discretion. Restricted Stock
and Restricted Stock Units shall be evidenced by an Award Notice that shall specify (i) the number
of shares of Restricted Stock and the number of Restricted Stock Units to be granted to each
Participant, (ii) the applicable Restricted Period(s) and (iii) such other terms and conditions,
not inconsistent with the Plan, as the Committee shall determine. Any shares of Restricted Stock
granted under the Plan may be evidenced in such manner as the Company deems appropriate, including,
without limitation, book-entry registration of the shares on the Company’s books and records or the
issuance of a stock certificate or certificates that shall be held in the custody of the Secretary
of the Company until the Restricted Period applicable to the Award lapses.

(b) Vesting.  Restricted Stock and Restricted Stock Units granted to Participants
under the Plan shall be subject to a Restricted Period established pursuant to the terms of the
Plan or by the Committee. Except as otherwise specified in the Plan or determined by the Committee
at or after grant, the Restricted Period with respect to Restricted Stock and Restricted Stock
Units that vest (i) solely based on the passage of time and the continued performance of services
shall lapse in three approximately equal annual installments on the first through third
anniversaries of the grant date and (ii) upon the satisfaction of Performance Goals shall lapse, to
the extent Performance Goals have been achieved, not earlier than one year after the commencement
of the applicable Performance Cycle. The Restricted Period applicable to any Restricted Stock grant
or Restricted Stock Award shall be specified in the Participant’s Award Notice. The Restricted
Period may lapse with respect to portions of Restricted Stock and Restricted Stock Units on a pro
rata basis, or it may lapse at one time with respect to all Restricted Stock and Restricted Stock
Units in an Award. The Restricted Period shall also lapse, in whole or in part, upon the occurrence
of any event or events, including a Change in Control, specified in the Plan.

(c) Settlement of Restricted Stock and Restricted Stock Units.  At the expiration of
the Restricted Period for any outstanding Restricted Stock Awards, the Company shall evidence the
lapse of the restrictions applicable to the Restricted Stock Award and shall, upon request, deliver
stock certificates evidencing the shares related to such Restricted Stock Awards to the Participant
or the Participant’s legal representative (or otherwise evidence the issuance of such shares free
of any restrictions imposed under the Plan). At the expiration of the Restricted Period with
respect to any outstanding Restricted Stock Unit, the Participant shall receive, in the Committee’s
discretion (i) a cash payment equal to the Fair Market Value of the underlying share of Common
Stock as of such payment date, (ii) one share of Common Stock or (iii) any combination of cash and
Common Stock.

(d) Restrictions on Transferability.  Shares of Restricted Stock and Restricted Stock
Units may not be sold, assigned, transferred, pledged, hypothecated or otherwise encumbered by the
Participant during the Restricted Period, except that the Committee may permit (on such terms and
conditions as it shall establish) shares of Restricted Stock and Restricted Stock Units to be
transferred during the Restricted Periods to a Permitted Transferee, in accordance with
Section 14(a), provided that any shares of Restricted Stock or Restricted Stock Units so
transferred shall remain subject to the provisions of this Section 8.

(e) Rights as a Shareholder.  Except for the restrictions set forth herein and unless
otherwise determined by the Committee, the Participant shall have all the rights of a shareholder
with respect to shares of Restricted Stock, including but not limited to, the right to vote and the
right to receive dividends. A Participant shall not have any right, in respect of Restricted Stock
Units awarded pursuant to the Plan, to vote on any matter submitted to the Company’s stockholders
until such time as the shares of Common Stock attributable to such Restricted Stock Units have been
issued. The Committee shall determine whether Dividend Equivalents will be provided in respect of
any Restricted Stock Unit Award, the manner in which any such Dividend Equivalents will be deemed
invested, the time or times at which such Dividend Equivalents shall be deemed payable, and any
other terms and conditions thereon that the Committee shall deem appropriate.

(f) Legending.  To the extent that certificates are issued to a Participant in respect
of shares of Restricted Stock awarded under the Plan (or in the event that such Restricted Stock
are held electronically), such shares shall be registered in the name of the Participant and shall
have such legends (or account restrictions) reflecting the restrictions of such Awards in such
manner as the Committee may deem appropriate.

SECTION 9

PERFORMANCE SHARES AND PERFORMANCE UNITS

(a) Generally.  Awards may be granted in the form of Performance Shares and
Performance Units and may be granted to Participants at such time or times as shall be determined
by the Committee. The Committee shall have the authority to determine the Participants who shall
receive Performance Shares and Performance Units, the number of Performance Shares and the number
and value of Performance Units each Participant receives for each or any Performance Cycle, and the
Performance Goals applicable in respect of such Performance Shares and Performance Units for each
Performance Cycle. The Committee shall determine the duration of each Performance Cycle (the
duration of Performance Cycles may differ from each other), and there may be more than one
Performance Cycle in existence at any one time. Unless otherwise determined by the Committee, the
Performance Cycle for Performance Shares and Performance Units shall be three years, and shall in
no event be less than one year. The Committee shall be entitled to make such rules, determinations
and adjustments as it deems appropriate with respect to any Participant who becomes eligible to
receive a performance-based Award after the commencement of a Performance Cycle. Performance Shares
and Performance Units shall be evidenced by an Award Notice that shall specify the number of
Performance Shares and the number and value of Performance Units awarded to the Participant, the
Performance Goals applicable thereto, and such other terms and conditions not inconsistent with the
Plan as the Committee shall determine, provided that no Dividend Equivalents shall be paid or
payable on any Performance Shares or Performance Units before they become earned and vested. No
shares of Common Stock will be issued at the time an Award of Performance Shares is made, and the
Company shall not be required to set aside a fund for the payment of Performance Shares or
Performance Units.

(b) Earned Performance Shares and Performance Units.  Performance Shares and
Performance Units shall become earned and vested, in whole or in part, based upon the attainment of
specified Performance Goals or the occurrence of any event or events including a Change in Control,
as the Committee shall determine, either at or after the grant date. In addition to the achievement
of the specified Performance Goals, the Committee may, in the Award Notice, condition payment of
Performance Shares and Performance Units on such conditions as the Committee shall specify. The
Committee may also require the completion of a minimum period of service (in addition to the
achievement of any applicable Performance Goals) as a condition to the vesting of any Performance
Share or Performance Unit Award.

(c) Performance Goals.  Performance Goals shall be determined by the Committee, in its
discretion, and shall be set out in the Award Notice. Except in the case of Awards to Executive
Officers intended to be “other performance-based compensation” under Section 162(m)(4) of the Code,
the Committee may also adjust the Performance Goals for any Performance Cycle as it deems equitable
in recognition of events impacting the comparability of the Company’s results of operations or
financial condition, changes in applicable tax laws or accounting principles, or such other factors
as the Committee may determine. Notwithstanding anything contained in the Plan to the contrary, to
the extent the Committee intends that an Award granted to an Executive Officer qualify as “other
performance-based compensation” within the meaning of Section 162(m)(4)(c) of the Code, the
Committee shall (i) specify and approve the specific terms of any Performance Goals with respect to
such Awards in writing no later than ninety (90) days from the commencement of the Performance
Cycle to which the Performance Goals relate, and (ii) not be entitled to exercise any subsequent
discretion otherwise authorized under the Plan (such as the right to authorize payout at a level
above that dictated by the achievement of the relevant Performance Goals) with respect to such
Award if the ability to exercise discretion (as opposed to the exercise of such discretion) would
cause such Award to fail to qualify as other performance-based compensation.

(d) Negative Discretion.  Notwithstanding anything in this Section 9 to the contrary,
with respect to any Performance Unit Awards, the Committee shall have the right to establish
written rules or procedures that have the effect of limiting the amount payable to each Participant
to an amount that is less than the maximum amount otherwise authorized.

(e) Certification of Attainment of Performance Goals.  As soon as practicable after
the end of a Performance Cycle and prior to any payment or vesting in respect of such Performance
Cycle, the Committee shall certify in writing the number of any Performance Shares and the number
and value of any Performance Units which have been earned or vested on the basis of performance in
relation to the established Performance Goals.

(f) Payment of Awards.  Payment or delivery of Common Stock with respect to earned
Performance Shares and earned Performance Units shall be distributed to the Participant or, if the
Participant has died, to the Participant’s legal representative, as soon as practicable after the
expiration of the Performance Cycle and the Committee’s certification under Section 9(e) above,
provided that payment or delivery of Common Stock with respect to earned Performance Shares and
earned Performance Units shall not be distributed to a Participant until any other conditions on
payment of such Awards established by the Committee have been satisfied. The Committee shall
determine whether earned Performance Shares and the value of earned Performance Units are to be
distributed in the form of cash, shares of Common Stock or in a combination thereof, with the value
or number of shares payable to be determined based on the Fair Market Value of the Common Stock on
the date of the Committee’s certification under Section 9(e) above. The Committee shall have the
right to impose whatever conditions it deems appropriate with respect to the award or delivery of
shares of Common Stock, including conditioning the vesting of such shares on the performance of
additional service.

SECTION 10

OTHER STOCK-BASED AWARDS

The Committee may grant Other Stock-Based Awards in accordance with this Section 10. Other
Stock-Based Awards may take such form of an interest in the Common Stock, the value of a specified
number of shares of Common Stock or any combination thereof as the Committee shall determine,
including outright awards of Common Stock in satisfaction of an obligation of an Employer in
respect of compensation that would otherwise be payable to an Employee in cash (each, a “Cash
Settlement Award”). The number of shares of Common Stock that may be subject to Other Stock-Based
Awards shall not exceed five percent (5%) of the shares authorized for issuance under Section 5(a)
hereof, except that, the number of Other Stock-Based Awards that are Cash Settlement Awards shall
not be subject to, or otherwise counted against, the foregoing 5% limit. In addition to any other
terms and conditions that may be specified by the Committee, each Other Stock-Based Award shall
specify the impact of a termination of service upon the rights of a Participant in respect of such
Award. At the discretion of the Committee, such conditions may be the same as apply with respect to
Restricted Stock or Restricted Stock Units, or may contain terms that are more or less favorable to
the Participant. The terms of any Other Stock-Based Award need not be uniform in application to all
(or any class of) Participants, and each Other Stock-Based Award granted to any Participant
(whether or not at the same time) may have different terms. Any such Other Stock-Based Award shall
be evidenced by an Award Notice which specifies the terms and conditions applicable thereto.

SECTION 11

TERMINATION OF EMPLOYMENT

(a) Termination Due to Death, Disability, Retirement.  Unless otherwise determined by
the Committee at or after the time the Award is granted and set forth in the Award Notice, if a
Participant’s employment or service terminates due to the Participant’s death, Disability or
Retirement:

(i) Performance Awards.  With respect to Performance Awards, the Participant or
Participant’s designated beneficiary, as the case may be, shall be entitled to a distribution of,
and such Performance Awards shall be deemed vested to the extent of, the same number or value of
Performance Awards that would have been payable for the Performance Cycle had the Participant’s
service with the Company or Subsidiary continued until the end of the applicable Performance
Cycle, pro-rated to reflect the time period from the commencement of the Performance Cycle
through the date of the termination of the Participant’s service with the Company or Subsidiary.
Any Common Stock issuable in respect of such Performance Awards or value of Performance Awards
payable in cash that become payable in accordance with the preceding sentence shall be paid on
the date the Performance Award would have been paid had the Participant remained employed through
the end of the Performance Cycle.

(ii) Restricted Stock and Restricted Stock Unit Awards.  Unless otherwise specified
by the Committee in the corresponding Award Notice, all outstanding Awards of Restricted Stock
and Restricted Stock Units shall become immediately and fully vested, regardless of the extent to
which otherwise vested as of the date of such termination of service or employment. Any Common
Stock issuable or cash payable in respect of any Restricted Stock Units that vest pursuant to the
preceding sentence shall be paid on the date the Restricted Stock Units would have been paid had
the Participant remained employed through the end of the Restricted Period.

(iii) Options/SARs.  Unless otherwise specified by the Committee in the
corresponding Award Notice, all outstanding Options and SARs shall become immediately and fully
exercisable, regardless of the extent to which they are otherwise exercisable as of the date of
such termination of service or employment. Unless otherwise specified by the Committee in the
corresponding Award Notice, all outstanding Options and SARs awarded to a Participant whose
employment terminates due to death, Disability or Retirement shall remain exercisable by the
Participant, his legal representative or his Permitted Transferee, until the fifth anniversary of
the date of the Participant’s termination of service or the Award’s original expiration date,
whichever is earlier, after which date any unexercised Options and SARs shall terminate.

(b) Termination for Cause.  Unless otherwise determined by the Committee at or after
the grant date and set forth in the Award Notice covering such Award, if a Participant’s employment
or service terminates for Cause, all Options and SARs, whether vested or unvested, and all other
Awards that are unvested, unexercisable or with respect to which the Restricted Period has not
lapsed shall be immediately forfeited and cancelled, effective as of the date of the Participant’s
termination of service.

(c) Termination due to a Divestiture.  Unless otherwise specified by the Committee in
the corresponding Award Notice, if a Participant’s employment or service terminates due to the
divestiture by the Company of one or more Subsidiaries or other business segments, divisions or
operations in a transaction that does not otherwise qualify as a Change in Control:

(i) Performance Awards.  With respect to Performance Awards, the Participant shall
be entitled to a distribution of, and such Performance Awards shall be deemed vested to the
extent of, the same number or value of Performance Awards that would have been payable for the
Performance Cycle had the Participant’s service with the Company or Subsidiary continued until
the end of the applicable Performance Cycle, pro-rated to reflect the time period from the
commencement of the Performance Cycle through the date of the termination of the Participant’s
service due to the divestiture (including a termination of service occurring by reason of the
sale of a Subsidiary). Any Common Stock issuable in respect of such Performance Awards or value
of Performance Awards payable in cash that become payable in accordance with the preceding
sentence shall be paid on the date the Performance Award would have been paid had the Participant
remained employed through the end of the Performance Cycle.

(ii) Restricted Stock and Restricted Stock Unit Awards.  Unless otherwise specified
by the Committee in the corresponding Award Notice, all outstanding Awards of Restricted Stock
and Restricted Stock Units shall become immediately and fully vested, regardless of the extent to
which otherwise vested as of the date of such termination of service or employment due to such
divestiture. Any Common Stock issuable or cash payable in respect of any Restricted Stock Units
that vest pursuant to the preceding sentence shall be paid promptly (but in no event later than
60 days) after the date of such divestiture.

(iii) Options/SARs:  Unless otherwise specified by the Committee in the
corresponding Award Notice, all outstanding Options and SARs shall become immediately and fully
exercisable, regardless of the extent to which they are otherwise exercisable as of the date of
such termination of service or employment due to the divestiture and shall remain exercisable
until the third anniversary of the date of such divestiture or the Award’s original expiration
date, whichever is earlier, after which date any unexercised Options and SARs shall terminate.

(d) Termination due to a Reduction in Force.  Unless otherwise specified by the
Committee in the corresponding Award Notice (or after the date of the issuance of such Award
Notice, if more favorable to the Participant), if a Participant’s employment or service terminates
without Cause due to a reduction in force or similar downsizing at the Company or any Subsidiary
unit that affects a significant number of employees, all Awards that are unvested, unexercisable or
with respect to which the Restricted Period has not lapsed, and Performance Awards for which the
applicable Performance Cycle has not been completed, shall be immediately forfeited and cancelled,
effective as of the date of the Participant’s termination of service. Unless otherwise specified by
the Committee in the corresponding Award Notice, any Option or SAR that is vested not later than
the date of termination shall remain exercisable until the first anniversary of the date of the
Participant’s termination of service or the Award’s original expiration date, whichever is earlier,
after which date any unexercised Option or SAR shall terminate.

(e) Termination for any Other Reason.  Unless otherwise determined by the Committee at
or after the time the Award is granted, and except as may otherwise be provided in any agreement to
which the Company and a Participant are parties, if a Participant’s employment or service with the
Company or a Subsidiary is terminated for any reason other than death, Disability, Retirement,
Cause, divestiture or reduction in force, all Options and SARs that are not exercisable, and all
other Awards that have not vested or become payable, as of the date of such termination shall be
immediately forfeited and cancelled, effective as of the date of the Participant’s termination of
service. Unless otherwise specified in the Participant’s Award Notice, and except as may otherwise
be provided in any agreement to which the Company and a Participant are parties, any Options and
SARs awarded to a Participant whose employment or service with the Company or a Subsidiary
terminates other than due to death, Disability, Retirement or Cause (including, without limitation,
by reason of the fact that an entity that employs or employed the Participant ceases to be a
Subsidiary) that are exercisable as of such termination shall remain exercisable for 90 days
thereafter, or until the Award’s original expiration date, whichever is earlier, after which date
any unexercised Options and SARs shall terminate.

SECTION 12

CHANGE IN CONTROL

(a) Accelerated Vesting and Payment.  Subject to the provisions of Section 12(b)
below, in the event of a Change in Control (i) each Option and SAR then outstanding shall be fully
exercisable regardless of the exercise schedule otherwise applicable to such Option and/or SAR,
(ii) the Restricted Period shall lapse as to each share of Restricted Stock then outstanding,
(iii) each outstanding Restricted Stock Unit shall become fully vested and payable, (iv) each
outstanding Performance Share Award and Performance Unit Award shall be deemed earned at the target
level of performance for such Award, and (v) each outstanding Other Stock-Based Award shall become
fully vested and payable. In addition, in connection with such a Change in Control, the Committee
may, in its discretion, provide that each Option and/or SAR shall, upon the occurrence of such
Change in Control, be canceled in exchange for a payment per share in cash (the “Settlement
Payment”) in an amount equal to the excess, if any, of the Fair Market Value over the exercise
price of such Option or the Grant Price of such SAR. Should the Committee authorize any Settlement
Payments in respect of Options, the Committee may determine that any Options which have an exercise
price per share below the Fair Market Value shall be deemed cancelled and satisfied in full for a
deemed Settlement Payment of zero. The Committee may also direct that each Restricted Stock Unit,
Other Stock-Based Award, Performance Share and/or Performance Unit shall be settled in cash with
its value determined based on the value received by the shareholders in any transaction that itself
constitutes a Change in Control.

(b) Alternative Awards.  Notwithstanding Section 12(a), no cancellation, acceleration
of exercisability, vesting, cash settlement or other payment shall occur with respect to any Award
if the Committee reasonably determines in good faith, prior to the occurrence of a Change in
Control, that such Award shall be honored or assumed, or new rights substituted therefor (such
honored, assumed or substituted award hereinafter called an “Alternative Award”), by a
Participant’s employer (or the parent or an affiliate of such employer) immediately following the
Change in Control; provided that any such Alternative Award must:

(i) be based on stock which is traded on an established U.S. securities market;

(ii) provide such Participant with rights and entitlements substantially equivalent to or
better than the rights, terms and conditions applicable under such Award, including, but not
limited to, an identical or better exercise or vesting schedule and identical or better timing
and methods of payment;

(iii) have substantially equivalent economic value to such Award (determined at the time of
the Change in Control and using valuation principles permitted under Treas. Reg. § 1.424-1); and

(iv) have terms and conditions which provide that in the event that, during the 24-month
period following the Change in Control, the Participant’s employment or service is involuntarily
terminated for any reason (including, but not limited to a termination due to death or
Disability) other than for Cause or Constructively Terminated (as defined below), all of such
Participant’s Options and/or SARs shall be deemed immediately and fully exercisable, the
Restricted Period shall lapse as to each of the Participant’s outstanding Restricted Stock
awards, each of the Participant’s outstanding Restricted Stock Unit Awards and Other Stock-Based
Awards shall be payable in full and each such Alternative Award shall be settled for a payment
per each share of stock subject to the Alternative Award in cash, in immediately transferable,
publicly traded securities or in a combination thereof, in an amount equal to, in the case of an
Option or SAR, the excess of the fair market value of such stock on the date of the Participant’s
termination over the corresponding exercise or base price per share and, in the case of any
Restricted Stock, Restricted Stock Unit, or Other Stock-Based Award, the fair market value of the
number of shares of stock subject or related thereto.

(c) Constructive Termination.  For purposes of Section 12(b)(iv), a Participant’s
employment or service shall be deemed to have been Constructively Terminated if, without the
Participant’s written consent, the Participant terminates employment or service within 120 days
following either (x) a material reduction in the Participant’s base salary or a
Participant’s incentive compensation opportunity, or (y) the relocation of the
Participant’s principal place of employment or service to a location more than 35 miles away from
the Participant’s prior principal place of employment or service.

(d) Amounts Subject to Section 409A.  Notwithstanding the foregoing provisions of this
Section 12, to the extent that any Award granted under the Plan and outstanding at the time of a
Change in Control is treated as “deferred compensation” under Section 409A, and not exempt from its
requirements under any applicable exemption therefrom, no acceleration of payment of such Award
shall be made upon a Change in Control unless such event is also a change in the ownership or
effective control of the corporation, or in the ownership of a substantial portion of the assets of
the corporation within the meaning of Section 409A. Any Award which is not payable upon the
occurrence of a Change in Control solely by reason of the operation of this Section 12(d) shall
become vested in accordance with Section 12(a) (unless the provisions of Section 12(b) apply to
such Award), but shall be paid at the date or event that such Award would have been payable without
regard to the occurrence of such Change in Control.

SECTION 13

EFFECTIVE DATE, AMENDMENT, 

MODIFICATION AND TERMINATION OF PLAN

(a) Generally.  The Plan shall be effective on the Effective Date, and shall continue
in effect, unless sooner terminated pursuant to this Section 13, until the tenth anniversary of the
Effective Date. The Board or the Committee may at any time in its sole discretion, for any reason
whatsoever, terminate or suspend the Plan, and from time to time, subject to obtaining any
regulatory approval, including that of the New York Stock Exchange, may amend or modify the Plan;
provided that without the approval by a majority of the votes cast at a duly constituted meeting of
shareholders of the Company, no amendment or modification to the Plan may (i) materially increase
the benefits accruing to Participants under the Plan, (ii) increase the number of shares of Common
Stock subject to the Plan or the individual Award limitations, (iii) modify the class of persons
eligible for participation in the Plan or (iv) materially modify the Plan in any other way that
would require shareholder approval under any regulatory requirement that the Committee determines
to be applicable, including, without limitation, the rules of the New York Stock Exchange.

SECTION 14

MISCELLANEOUS

(a) Nonassignability.  Except as provided herein or in an Award Notice, no Award may
be sold, assigned, transferred, pledged or otherwise encumbered except by will or the laws of
descent and distribution; provided that the Committee may permit (on such terms and conditions as
it shall establish) a Participant to transfer an Award for no consideration to the Participant’s
child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling,
niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or
sister-in-law, including adoptive relationships, any person sharing the Participant’s household
(other than a tenant or employee), a trust in which these persons have more than fifty percent of
the beneficial interest (a “Trust”) and any other entity in which these persons (or the
Participant) own more than fifty percent of the voting interests (“Permitted Transferees”),
provided further that nothing in this Section 14(a) shall prohibit the transfer of an Award from a
Trust back to a Participant to whom the Award was originally granted, in accordance with the terms
of the Trust. No amendment to the Plan or to any Award shall permit transfers other than in
accordance with the preceding sentence. Any attempt by a Participant to sell, assign, transfer,
pledge or encumber an Award without complying with the provisions of the Plan shall be void and of
no effect. Except to the extent required by law, no right or interest of any Participant shall be
subject to any lien, obligation or liability of the Participant. All rights with respect to Awards
granted to a Participant under the Plan shall be exercisable during the Participant’s lifetime only
by such Participant or, if applicable, his or her Permitted Transferee(s). The rights of a
Permitted Transferee shall be limited to the rights conveyed to such Permitted Transferee, who
shall be subject to and bound by the terms of the agreement or agreements between the Participant
and the Company.

(b) Tax Withholding.  The Company shall be entitled to deduct from any payment under
the Plan, regardless of the form of such payment, the amount of all applicable income and
employment taxes required by law to be withheld with respect to such payment or may require the
participant to pay to it such tax prior to and as a condition of the making of such payment.
Subject to any administrative rules, regulations or procedures established by the Committee, a
Participant may pay the amount of taxes required by law to be withheld from an Award, in whole or
in part, by requesting that the Company withhold from any payment of Common Stock due as a result
of such Award, or by delivering to the Company, shares of Common Stock having a Fair Market Value
less than or equal to the amount of such required withholding taxes.

(c) Noncompetition and Other Adverse Actions.  Notwithstanding anything contained in
this Plan to the contrary, unless the Award Notice specifies otherwise, a Participant shall forfeit
all unexercised, unearned, and/or unpaid Awards, including Awards earned but not yet paid, all
unpaid Dividend Equivalents, and all interest, if any, accrued on the foregoing if, (i) in the
opinion of the Committee, the Participant, without the written consent of the Company, engages
directly or indirectly in any manner or capacity as principal, agent, partner, officer, director,
employee, or otherwise, in any business or activity competitive with the business conducted by the
Company or any Subsidiary or (ii) the Participant performs any act or engages in any activity which
in the opinion of the Committee is adverse to the best interests of the Company. Notwithstanding
anything else in the Plan to the contrary, the Committee may suspend the exercisability or the
payment of any Award hereunder during any period during which the Company is determining whether
the requirements of this Section 14(c) have been violated.

(d) Amendments to Awards.  The Committee may at any time unilaterally amend any
unexercised, unearned, or unpaid Award, including Awards earned but not yet paid, to the extent it
deems appropriate, provided, however, that subject to Section 5(d) any such amendment which is
adverse to the Participant shall require the Participant’s consent unless the Committee determines
that such amendment or modification is necessary or advisable to comply with applicable law as a
result of changes in law or regulation or to avoid the imposition of an additional tax, interest or
penalty under Section 409A.

(e) No Right, Title or Interest in Company Assets.  No Participant shall have any
rights as a stockholder as a result of participation in the Plan until the date of issuance of a
stock certificate or book entry shares in his name, and, in the case of Restricted Stock, Stock
Options or SARs, until such rights are granted to the Participant. To the extent any person
acquires a right to receive payments from the Company under this Plan, such rights shall be no
greater than the rights of an unsecured creditor of the Company.

(f) Regulatory Approvals and Listings.  Notwithstanding anything contained in this
Plan to the contrary, the Company shall have no obligation to issue or deliver certificates of
Common Stock evidencing Awards resulting in the payment of Common Stock prior to (i) the obtaining
of any approval from any governmental agency which the Company shall, in its sole discretion,
determine to be necessary or advisable, (ii) the admission of such shares to listing on the stock
exchange on which the Common Stock may be listed, and (iii) the completion of any registration or
other qualification of said shares under any state or federal law or ruling of any governmental
body which the Company shall, in its sole discretion, determine to be necessary or advisable.

(g) No Right to Continued Employment or Grants.  Participation in the Plan shall not
give any Participant any right to remain in the employ of the Company or any Subsidiary. The
Company or, in the case of employment with a Subsidiary, the Subsidiary, reserves the right to
terminate any Participant at any time. Further, the adoption of this Plan shall not be deemed to
give any person the right to be selected as a Participant or to be granted an Award, nor shall the
grant of one Award guarantee the grant of further Awards in the future.

(h) No Constraint on Corporate Action.  Nothing in this Plan shall be construed (i) to
limit, impair or otherwise affect the Company’s right or power to make adjustments,
reclassifications, reorganizations or changes of its capital or business structure, or to merge or
consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or assets or
(ii) to limit the right or power of the Company or any Subsidiary to take any action which such
entity deems to be necessary or appropriate.

(i) Legal Fees.  The Company shall pay all legal fees and related expenses incurred by
a Participant in seeking to obtain or enforce any payment, benefit or right he may be entitled to
under the Plan following the occurrence of a Change in Control, provided that the Participant shall
be required to repay any such amounts to the Company to the extent a court of competent
jurisdiction issues a final and non-appealable order setting forth the determination that the
position taken by the Participant was frivolous or advanced in bad faith.

(j) Governing Law.  The Plan, and all agreements hereunder, shall be construed in
accordance with and governed by the laws of the State of New Jersey, without regard to principles
of conflict of laws.

(k) No Impact on Benefits.  Except as may otherwise be specifically provided for under
any employee benefit plan, policy or program provision to the contrary, Awards shall not be treated
as compensation for purposes of calculating a Participant’s right under any such plan, policy or
program.

(l) Captions.  The headings and captions appearing herein are inserted only as a
matter of convenience. They do not define, limit, construe, or describe the scope or intent of the
provisions of the Plan.EX-10.2

Exhibit 10.2

ADMINISTRATIVE

RULES OF THE

COMPENSATION COMMITTEE

OF THE

BOARD OF DIRECTORS

OF

NATIONAL FUEL GAS COMPANY

As amended and restated

effective March 11, 2010

I. MEETINGS

Each meeting (“Meeting”) of the Compensation Committee (“Committee”) of the Board of Directors
of National Fuel Gas Company (“Company”) shall be held as indicated in a notice made in accordance
with these rules. Notice of each Meeting, stating the place, date and hour thereof, shall be given
to each member of the Committee (“Member”) by mailing written notice (including by e-mail to the
address provided by such Member) not less than five days before the Meeting to each Member, or by
telegraphing, telephoning or delivering oral or written notice to each Member personally not less
than one day before the Meeting. The attendance of any Member at a Meeting without protesting
prior to the end of the Meeting the lack of notice of such meeting shall constitute a waiver of
notice by that Member.

Any one or more Members of the Committee may participate in a Meeting by means of a conference
telephone or similar equipment. Participation by such means shall constitute presence in person at
a Meeting.

The Committee may also take action by unanimous written consent.

1

II. QUORUM AND VOTING; DELEGATION

At all Meetings, a quorum shall be required for the transaction of business and shall consist
of a majority of the entire Committee. The majority vote of the Members at a Meeting at which a
quorum is present shall decide any question that may come before the meeting.

Consistently with limitations imposed by the Plans (as defined below), the Committee may
delegate in these rules or by resolution any or all of its authority to the Chief Executive
Officer, to the Secretary and to any other officer of the Company (individually, “Delegate”), so
long as the Delegate has no potential conflict of interest which would cause him or her not to
exercise his or her good faith independent business judgment in respect of a delegated matter.
Subject to such limitations, the Committee hereby delegates the power to implement its decisions to
appropriate officers of the Company.

III. GRANTS AND AWARDS UNDER THE PLANS

The following rules and regulations shall apply with respect to grants and awards of stock
options, stock appreciation rights (“SARs”) and shares of restricted stock (“Restricted Stock”)
under the Company’s 1997 Award and Option Plan (“1997 Plan”) and 2010 Equity Compensation Plan
(“2010 Plan”) (as amended, each individually a “Plan;” together the “Plans”).

Any capitalized term not defined in these rules shall have the same meaning as in the
applicable Plan. The following rules are intended to supplement the Plans and, to the extent that
any rule is determined to be inconsistent with any Plan, the Plan shall control.

These rules may be amended by the Committee at any time and from time to time. Except to the
extent otherwise specified in the particular Award Notice or at the time these rules are amended,
any grant or award under the Plans shall be subject to these rules as in effect on the date of the
grant or award.

	 	A.	 	GENERAL RULES REGARDING AWARDS UNDER THE 1997 AND 2010 PLANS

1. Making of An Award

An Award within the meaning of these rules occurs upon the grant by the Committee of any stock
option, SAR or Restricted Stock. An Award Notice within the meaning of these rules means a written
notice from the Company to a Participant (including a notice provided to the recipient in an
electronic form or by a link to cite of the notice) that sets forth the terms and conditions of an
Award in addition to those conditions established in the applicable Plan and by the Committee’s
exercise of its administrative powers.

2. Contemporaneous Awards

Unless the Committee shall otherwise expressly provide at the time of grant, an Award of one
type granted contemporaneously with an Award of any other type shall be treated as having been
granted in combination, and not in the alternative, with the Award of the other type.

3. Stock-based Awards

a. Source. Stock-based Awards, to the extent actually paid in Common Stock, shall reduce
treasury shares first and thereafter authorized but unissued shares.

b. Cash Dividends and Cash Dividend Equivalents.

(i) Stock-Based Awards Other Than Restricted Stock. No stock-based Award other than
Restricted Stock carries with it the entitlement to receive cash dividends or cash dividend
equivalents until such stock-based Award is exercised (in the case of a stock option or
stock-settled SAR) or earned. If a stock-based Award is exercised or earned prior to or on the
record date for determination of stockholders entitled to receive a cash dividend, then such
stock-based Award or the securities resulting from the exercise thereof, as the case may be, shall
be entitled to receive such cash dividend (or, if the shares related thereto have not been issued
as of the record date, to receive a dividend equivalent in respect thereof).

(ii) Restricted Stock Awards. Notwithstanding clause (i) of this paragraph (b) or Section 24
of the 1997 Plan or Section 14(e) of the 2010 Plan, dividends shall be payable with respect to each
outstanding Award of Restricted Stock whether or not the restrictions in such Award have been
satisfied or have lapsed.

c. Payment. Payment of stock-based Awards shall be made with Common Stock.

4. Withholding Taxes

At the time a Participant is taxable with respect to stock options, SARs or Restricted Stock
granted under the Plans, or the exercise or surrender of the same, the Company (or, if applicable,
an employer other than the Company) shall have the right to withhold from amounts payable to the
Participant under the Plan or from other compensation payable to the Participant in its sole
discretion, or require the Participant to pay to it, an amount sufficient to satisfy all federal,
state and/or local (including foreign) withholding tax requirements. A Participant may pay, in
whole or in part, such tax withholding amounts by requesting that the Company withhold such amounts
of taxes from the amounts owed to the Participant or by delivering as payment to the Company,
shares of Common Stock having a Fair Market Value less than or equal to the amount of such required
withholding taxes (with the remainder payable in cash); provided, however, that to the extent that
such withholding is satisfied by the Company withholding any shares of stock issuable in respect of
an Award, in no event shall the amount (including shares) withheld exceed the maximum amount
required to be withheld at law.

5. Deferral of Payment

The Committee intends to permit Participants to elect, at such time or times as the Committee
shall permit, to defer the receipt of payment of Awards that are payable in cash; provided,
however, that (1) under the then applicable income tax rules the Participant is not in constructive
receipt of, and subject to income tax on, the payment prior to its actual receipt, (2) such
deferral does not result in any of the Plans being subject to the Employee Retirement Income
Security Act of 1974, as amended, (3) if the Participant is an Executive Officer (i.e., is subject
to Section 16 of the Securities Exchange Act of 1934, including a retired officer who is, at the
relevant time, a director), such election shall comply with Rule 16b-3 promulgated pursuant to the
Securities Exchange Act of 1934, as then in effect, and (4) such election would not result in the
imposition of an additional tax under Section 409A of the Code on the Participant. The Committee
hereby delegates to the Chief Executive Officer, President, Treasurer, Secretary and General
Counsel of the Company, and each of them, the Committee’s authority to establish the time or times
at which deferral elections may be permitted in respect of any Award.

B. STOCK OPTIONS UNDER THE 1997 AND 2010 PLANS

1. Designation

The Award Notice setting forth the terms and conditions of a grant of a stock option shall
indicate the applicable Plan under which the stock option is granted and whether the stock option
is an incentive stock option (within the meaning of Section 422 of the Code, an “ISO”) or a
non-qualified stock option (“NSO”). The Committee hereby delegates to the Chief Executive Officer,
President, Treasurer, Secretary and General Counsel of the Company, and each of them, the
authority to prepare, execute and deliver Award Notices consistent with actions taken by the
Committee. The Committee hereby directs that any action taken by the Committee granting stock
options without specifying whether the stock options are ISOs be interpreted as follows:

a. an award of stock options under the 1997 Plan or the 2010 Plan shall be deemed to be awards
of NSOs only; and

b. an award of stock options after December 12, 2006 under the 1997 Plan shall be deemed to be
NSOs regardless of the language of the award.

2. Price

The price at which Common Stock may be purchased upon exercise of a stock option (the
“exercise price”) shall be the Fair Market Value of the Common Stock on the date of the Award.

3. Exercise Period/Duration

a. Non-Qualified Stock Options Under the 1997 and 2010 Plans. Except as may otherwise be
expressly provided in the Plan, a non-qualified stock option granted under the 1997 Plan or the
2010 Plan first may be exercised twelve months after the date of grant, or, if earlier, on the date
of the optionee’s death.

b. Incentive Stock Options Under the 1997 and 2010 Plans. Except as may otherwise be
expressly provided in the Plan, an ISO granted under the 1997 Plan or the 2010 Plan first may be
exercised twelve months after the date of grant, or, if earlier, on the date of the optionee’s
death.

c. Suspension of rights to exercise. The Committee may, among other things, suspend or limit
the right of any Participant to exercise stock options during any period:

(i) for which counsel for the Company advises in writing that such stock option exercises
would violate federal or state securities laws or other applicable laws, rules, regulations,
judgments, or orders; or

(ii) during which management is investigating an allegation that the Participant has engaged
in any act which would permit the Committee to forfeit the Participant’s stock options pursuant to
Section 18 of the 1997 Plan or Section 14(c) of the 2010 Plan.

d. Delegation of Authority. The Committee hereby delegates to the Chief Executive Officer,
President, Treasurer, Secretary and General Counsel of the Company, and each of them, the
Committee’s authority to suspend Participants’ rights to exercise stock options during the periods
described in Section III(B)(4)(c) above. Management shall report to the Committee at each
Committee meeting any suspension actions taken or ongoing since the previous meeting, and the
Committee shall adopt a resolution ratifying, continuing and/or discontinuing each such suspension.

4. Death or Other Termination of Employment

a. Definitions. For purposes of these rules, the following terms shall have the following
meanings:

(i) For purposes of the 1997 Plan, “Disability” shall mean that the Participant is eligible to
receive disability benefits under Article 3 of The National Fuel Gas Company Retirement Plan
(“Retirement Plan”), as from time to time amended.

(ii) “Principal Subsidiary” shall mean a Subsidiary that has a net income of at least
$5,000,000 as of the end of the most recent fiscal year.

(iii) “Subsidiary” shall mean a corporation or other business entity in which the Company
directly or indirectly has an ownership interest of fifty percent (50%) or more.

b. Non-Qualified Stock Options Under the 1997 and 2010 Plans. With respect to the President
and Chief Executive Officer of the Company and the Presidents of each Principal Subsidiary, if
termination of employment occurs by reason of death, Disability or retirement, each NSO awarded
under the 1997 Plan or the 2010 Plan shall remain exercisable for five years from such termination
or the balance of its unexpired term, whichever is less. If termination occurs by reason of
discharge by the Company for cause or voluntary resignation of the Participant prior to age 60,
each such NSO shall lapse unless extended by the Committee in its discretion. If termination of
any such officer occurs for any other reason, each such NSO shall remain exercisable for five years
from such termination (or in the case of NSOs awarded under the 1997 Plan, such greater period as
the Committee deems appropriate) or the balance of its unexpired term, whichever is less.

For all other Participants, if termination of employment occurs by reason of death, Disability
or retirement at or after age 60, each NSO awarded under the 1997 Plan or the 2010 Plan shall
remain exercisable for five years from such termination or the balance of its unexpired term,
whichever is less. If termination occurs for any other reason, each NSO issued under the 1997 Plan
shall lapse unless extended by the Committee in its discretion, and each NSO issued under the 2010
Plan shall terminate as described in Section 11 of that Plan.

c. Incentive Stock Options Under the 1997 Plan. Pursuant to §14(b)(ii) of the 1997 Plan, the
Committee hereby establishes that, with respect to an ISO granted under the 1997 Plan which has
not theretofore expired, upon termination of employment by reason of the optionee’s Disability, the
optionee may within one year after the date of termination of employment, exercise all or part of
the ISO which the optionee was entitled to exercise on the date of termination of employment.

d. Extension of Incentive Stock Options Under the 1997 and 2010 Plans. Pursuant to the last
paragraph of Section 14(b) of the 1997 Plan, the Committee hereby determines that:

(i) With respect to the President and Chief Executive Officer of the Company and the
Presidents of each Principal Subsidiary, if termination of employment occurs by reason of death,
Disability or Retirement, another officer of the Company shall, within thirty days of such
termination, offer in writing to extend the period during which any ISO granted to such optionee
under the 1997 Plan may be exercised to the date on which the ISO would have otherwise expired
absent such termination of employment.

If termination of any such officer’s employment occurs for any other reason, another officer
of the Company, if the Committee so authorizes, shall, within thirty days of such termination,
offer in writing to extend the period during which any ISO granted to such optionee may be
exercised to the date specified in the offer, which shall not be later than the date on which the
ISO would have otherwise expired absent such termination of employment;

(ii) With respect to all Participants other than the President and Chief Executive Officer of
the Company and the Presidents of each Principal Subsidiary, if termination of employment occurs by
reason of death, Disability or Retirement, an officer of the Company other than such Participant
shall, within thirty days of such termination, offer in writing to extend the period during which
any ISO granted to such optionee under the 1997 Plan may be exercised, to the date which is the
earlier of five years from such termination or the balance of the unexpired term of such ISO.

If termination of such Participant’s employment occurs for any other reason, an officer of the
Company other than such Participant, if the Committee so authorizes, shall, within thirty days of
such termination, offer to extend the period during which any ISO granted to such optionee may be
exercised to the date specified in the offer, which shall not be later than the earlier of five
years from such termination of employment or the date on which the ISO would have otherwise expired
absent such termination of employment.

The written offer shall notify the optionee, or the optionee’s estate or the person to whom
the optionee’s rights under the ISO are transferred by will or the laws of descent and
distribution, of the right to accept the offer by consenting to the extension, in writing, within
thirty days of the offer. If such consent is timely received the ISO may be exercised during the
period specified in the offer, but not later than the expiration of the exercise period specified
in the Award Notice.

5. Mechanics of Exercise

To exercise a stock option, the Participant shall provide a signed exercise notice to an
appropriate officer or other designee of the Company, which notice shall indicate which stock
options are being exercised, how the exercise price is to be paid and any other appropriate
information. Appropriate delivery of a signed notice of exercise binds the Participant to pay the
exercise price. Part IV of these Rules contains procedures for exercising stock options.

6. Reload Options

No optionee shall be issued a new stock option automatically upon exercise of a stock option.
However, if the Award Notice provides for the issuance of such new stock option, the new stock
option shall have an exercise price equal to the Fair Market Value of the Common Stock on the date
the new stock option is issued and shall otherwise be subject, as nearly as possible, to the same
terms and conditions as the exercised stock option.

C. SARs UNDER THE 1997 OR 2010 PLAN

The base price or grant price of a SAR shall be the Fair Market Value of the Common Stock on
the date of the grant of the SAR. Each SAR shall otherwise be subject to the terms and conditions
imposed (i) by the Award Notice upon the SAR, (ii) by the applicable Plan, and (iii) by these Rules
upon either SARs or NSOs (except that no exercise price is due upon exercise of a SAR). A SAR
shall be outstanding and exercisable during the entire exercise period otherwise applicable to an
NSO if the NSO had been granted on the same day as the SAR (as adjusted in accordance with
paragraph III.B.4 above in the event of death or other termination of employment).

To exercise a SAR, the Participant shall deliver a signed exercise notice to an appropriate
officer or other designee of the Company, which notice shall indicate which SARs are being
exercised, and any other appropriate information. Part IV of these Rules contains procedures for
exercising SARs.

D. RESTRICTED STOCK UNDER THE 1997 AND 2010 PLANS

1. Restrictions on Transferability; Vesting

The restrictions on transferability and vesting and all other terms and conditions of
Restricted Stock granted under the 1997 and 2010 Plans shall be specified in the Award Notice. All
shares of Restricted Stock shall be subject to the Participant’s continued employment with the
Company or a Subsidiary until vesting. The Committee may accelerate the vesting of Restricted
Stock on its own motion as it deems appropriate and in the best interests of the Company.

2. Mechanics of Grant

The Committee hereby delegates to appropriate officers of the Company the authority to
establish and revise appropriate procedures with respect to the issuance of certificates
representing Restricted Stock and the payment of dividends thereon.

IV. PROCEDURES FOR EXERCISING STOCK OPTIONS AND SARS

A. AUTHORITY AND SCOPE

Notwithstanding any provision of any award letter issued before 1998, these are the exercise
procedures for ISOs, NSOs and SARs issued under the 1997 Plan, the 2010 Plan, and (unless the
Compensation Committee specifically orders otherwise) any other compensation plan which in the
future is adopted by the Company.

B. NOTICE OF EXERCISE

1. Form and Delivery

A Participant holding stock options or SARs granted under any of the Plans elects to exercise
stock options or SARs by delivering (by personal delivery, fax or e-mail) to the office of the
Company’s Secretary or Assistant Secretary a Notice of Exercise. A Notice of Exercise is a writing
signed by the Participant indicating that the Participant thereby elects to exercise the stock
options or SARs identified in the Notice (including the quantity and either the stock option
exercise price or the SAR base price), and describing the method by which the Participant will pay
the exercise price of the stock options (since there is no exercise price payment due in connection
with the exercise of a SAR). Appropriate delivery of a Notice of Exercise binds the Participant to
pay the exercise price. An optional form of Notice of Exercise is attached to these Rules (see
Exhibit A).

2. Exercise Date

The effective date of a Notice of Exercise is the “Exercise Date”. An exercise will be
effective as of the date the Notice of Exercise is received by the office of the Secretary or
Assistant Secretary; provided, however, that:

(i) a Notice of Exercise received on a business day before trading opens that day on the New
York Stock Exchange may validly designate the Exercise Date to be the preceding business
day; and

(ii) a Notice of Exercise may validly designate the Exercise Date to be any date later
than the date the Notice of Exercise is received.

(iii) if the exercise of a stock option is accomplished through a “cashless exercise” as
described in Section IV(C)(4) below, the Exercise Date shall be the date the broker sells Company
stock into the market regarding that exercise.

C. PAYMENT OF EXERCISE PRICE

1. Cash Payment

To pay the exercise price of a stock option in cash, a Participant must deliver to the
Secretary or Assistant Secretary payment in full, in cash or by check payable in immediately
available U.S. funds to the Company, within three business days after the Exercise Date (except as
additional time may be allowed under Section IV(C)(3) below). Payment of the exercise price may be
partly in cash and partly in Company stock as described in Section IV(C)(2) below, or may be
accomplished through a “cashless exercise” as described in Section IV(C)(4) below.

2. Payment with Existing Company Stock

The exercise price of a stock option cannot be paid with Company stock that was both (i)
issued later than six months before the date of the exercise, and (ii) issued as a result of a
stock option exercise. To pay the exercise price in shares of Company stock already owned by a
Participant, the Participant must surrender to the Company shares having a total Fair Market Value
(as of the Exercise Date) of at least the total exercise price, or pay any shortfall in cash. The
Participant must, within three business days after the Exercise Date (except as additional time may
be allowed under Section IV(C)(3) below) do one or both of the following:

	 	a.	 	regarding shares in the Company’s Direct
Registration System, comply with the Company’s procedures (including
signature guarantee requirements) for transferring book-entry shares to
the Company; or

	 	b.	 	regarding shares that are evidenced by a paper
stock certificate, deliver the certificate to the Secretary or
Assistant Secretary. Each certificate delivered must have a guaranteed
signature either on the back or on a stock power to be attached. The
recommended procedure for mailing certificates is to mail the
certificate and signed stock power separately.

3. Additional Time to Pay Exercise Price

If, at any time the Participant’s payment of the exercise price would otherwise be required
pursuant to Section IV(C)(1) or (2) above, a Participant is either

	 	a.	 	traveling away from his or her usual place of
Company employment, or

	 	b.	 	“disabled”, as defined in the applicable Plan
or these Administrative Rules,

then, to the extent permitted by applicable law, the Participant may pay the exercise price on or
before the first business day after the Participant’s return to his or her usual place of NFG
employment, but no later than the tenth business day after the Exercise Date. However, the
President, Chief Executive Officer, Treasurer or General Counsel of the Company shall have the
authority to grant such additional time to pay the exercise price as is reasonably necessary to
accommodate the travel or disability of the Participant.

4. Cashless Exercise

The broker-assisted method of exercising stock options described in this Section IV(C)(4)
(“cashless exercise”) requires no cash outlay by the Participant. A Participant wishing to do a
cashless exercise must first establish a trading account with a registered securities
broker-dealer. Establishing that trading account will likely include the Participant’s commitment
to pay the broker as described in their agreement. Upon request by a Participant, the Secretary or
Assistant Secretary will provide information that may help the Participant find a broker who has
previously done cashless exercises with the Company and/or may be willing to do so at a discounted
commission rate. The Participant must provide the Secretary or Assistant Secretary with the
Participant’s broker’s name, firm, address, telephone and fax numbers.

To do a cashless exercise, the Participant must deliver a Notice of Exercise as described in
Section IV(B)(1), and notify the Participant’s broker to proceed with the exercise and to notify
the Company of the date the stock is sold. The Participant’s broker will sell Company stock for
the Participant’s account and pay to the Company the exercise price, plus any necessary tax
withholding. The Company will have share certificates delivered to the Participant’s broker within
three business days after the Exercise Date, unless the Company elects to retain the certificates
pending receipt of the exercise price. The Participant will be required to pay the Participant’s
broker according to the agreement between them, typically a few days’ interest on the exercise
price plus a commission on the shares sold.

2

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