Document:

EX-10.11

 Exhibit 10.11 

REVERSE TRANSITION SERVICES AGREEMENT 

THIS REVERSE TRANSITION SERVICES AGREEMENT (this “Agreement”), dated
            , 201    , is entered into by and between Windstream Services, LLC, a Delaware limited liability company (“WIN”), and CSL National, L.P., a
Maryland limited partnership (“CSL”), on behalf of itself and its Affiliates, including Talk America Services, LLC (“TAS”). WIN and CSL are each sometimes referred to herein as a “Party” and,
collectively, as the “Parties”. 
 WHEREAS, CSL and WIN have entered into that certain Separation and Distribution
Agreement, dated             , 2015 (the “Distribution Agreement”; capitalized terms used but not defined herein shall have the meanings ascribed thereto in the
Distribution Agreement); 
 WHEREAS, WIN desires for CSL to provide certain services in support of WIN’s business; and 

WHEREAS, the Parties desire that, for a limited transition period, CSL shall provide certain services to WIN and its Affiliates on the
terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements
set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows: 

1. Description of Services. 

(a) Services. Subject to the terms and provisions of this Agreement CSL shall (or shall cause its Affiliates to) provide to WIN the
services set forth on Exhibit 1 hereto (as such Exhibit 1 may be amended by the mutual agreement of the Parties in writing from time to time, the “Services Attachment”) (the “Services”). 

(b) Purchase of Additional or Modified Services. From time to time, WIN may request CSL to provide additional or modified Services that
are not described in Exhibit 1, but are of a similar scope or nature as those used by WIN prior to the Distribution Date. CSL will use commercially reasonable efforts to accommodate any reasonable requests by WIN to provide such additional or
modified Services. In order to initiate a request for additional or modified Services, WIN shall submit a request in writing to CSL specifying the nature of the additional or modified Services and requesting a cost estimate (based on the general
parameters set forth in this Agreement) and time frame for completion. CSL shall respond within ten (10) business days to such written request; provided that, subject to the second sentence of Section 1.3, such ten (10) business day
period shall be subject to a reasonable extension if, due to the volume, frequency or type of requests submitted by WIN, CSL’s preparation of responses to such requests is materially interfering with, or is likely to materially interfere with,
CSL’s normal business activities. If CSL can accommodate WIN’s request to provide such additional or modified Services, and if WIN accepts the terms and conditions set forth in CSL’s response to such request, then such additional or
modified Services shall be provided hereunder and according to the terms agreed to by the Parties in a written amendment to this Agreement, which shall be consistent to the greatest extent practicable with the terms of this Agreement. 

  
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 (c) Ancillary Services. Any functions, responsibilities, activities or tasks that are not
specifically described in this Agreement or the Exhibit hereto, but are reasonably required for the proper performance and delivery of the Services (including any additional or modified Services), and are a necessary or inherent part of such
Services, as performed by CSL, in the ordinary course of business, shall be deemed to be implied by and included within the scope of such Services, subject to any limitations set forth in this Agreement or the Exhibit hereto, to the same extent and
in the same manner as if specifically described in this Agreement. 
 (d) Modifications. Unless otherwise provided for in this
Agreement, if WIN makes any change in the processes, procedures, practices, networks, equipment, configurations, or systems pertaining to the WIN business, and such change has a materially adverse impact on CSL’s ability to provide any of the
Services, then CSL shall be excused from performance of any such affected Service until WIN mitigates the material adverse impact of such change or the Parties enter into an agreement to purchase additional or modified services that may be
necessitated by such changes, and WIN shall be responsible for all direct expenses incurred by CSL in connection with the cessation and, if applicable, the resumption of the affected Services. 

(e) Transition Plan. The Parties shall agree on a written transition plan after the execution of this Agreement (the
“Transition Plan”) which shall include: (i) a plan and timetable for the migration of WIN away from the Services; (ii) assistance in relation to migration (including the migration of data and the “Carve-Out
Assistance” listed in the Services Attachment); (iii) information in relation to the operation of the relevant IT systems and the interface between such IT systems for the purpose of implementing the migration referred to in this Section
(including the applicable Services listed in the Services Attachment); (iv) respective responsibilities of the Parties in carrying out the migration; and (v) safeguards to ensure minimal disruption to both Parties’ ongoing businesses
during the migration. Each Party shall implement and comply with its obligations under the Transition Plan. Except as may otherwise be expressly provided in the Transition Plan or Schedule of Services, as applicable, WIN shall bear all costs
associated with the migration by WIN away from the Services provided by CSL. 
 (f) Representatives. 

(i) Transition Representatives. Each Party will designate an individual who shall be the primary interface for the
purposes of coordinating the Services provided hereunder (the “Transition Representative”). Such individual shall (A) coordinate with the other Party and their Service Representatives (as defined below) to provide the relevant
contacts in that Party’s applicable departments for the purposes of implementing and performing the Services, and (B) evaluate in consultation with the other Party’s Transition Representative when a particular Service may be
terminated. The Transition Representative shall perform the duties required hereby in a professional and timely manner. Each Party may change its Transition Representative by giving written notice to the other in accordance with the notice
provisions of this Agreement. 

  
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 (ii) Role of the Service Representative. Each Party shall provide up to two
(2) individuals (each, a “Service Representative”) who are familiar with that Party’s business and who will be that Party’s primary points of contact in dealing with the other Party’s Service Representatives
under this Agreement and who will have the authority and power to make decisions with respect to actions to be taken by such Party with respect to the provision of Services under this Agreement. Each Party may change its Service Representative(s) by
giving written notice to the other in accordance with the notice provisions of this Agreement. 
 (iii) Obligations of the Service
Representatives. Each Party shall, or shall ensure that their Service Representative, as applicable, respond within a commercially reasonable time to any reasonable requests by the other Party or its Service Representative for such Party’s
Service Representative to provide directions, instructions, approvals, authorizations, decisions or other information reasonably necessary for CSL to perform any Services; provided, however, any request contemplated in
Section 1(b) of this Agreement shall be delivered by and to, and accepted or rejected by, the Transition Representatives. 

(iv) Meetings of the Transition and Service Representatives. The Transition Representatives and the Service Representatives shall meet
on a monthly basis (which meeting may be held telephonically) during the Term. The purpose of such meetings shall be to discuss the Services and each Party’s obligations under this Agreement, including operational details, transitional matters,
dispute resolution and any other issues related to this Agreement. Such meetings will take place at mutually agreed locations (including by teleconference) and may include a reasonable number of additional representatives from either Party. 

(g) Standard of the Provision of Services. CSL shall provide the Services in a manner and at a level as more particularly described in
Section 8 of this Agreement. CSL shall provide Services in accordance in all material respects with all applicable Laws. 

2. Term. 

(a) The term of this Agreement shall commence on the date hereof and, unless terminated earlier in accordance with Section 12,
expire on the latest end date specified in Exhibit 1 (the “Term”). Thereafter, if WIN desires and CSL agrees to continue to perform any of the Services after the Term has expired, the parties shall negotiate in good faith to
determine an amount that compensates CSL for all of its costs for such performance. The Services so performed by CSL after the expiration of the Term shall continue to constitute Services under this Agreement and be subject in all respects to the
provisions of this Agreement for the duration of the agreed-upon extension period. 
 (b) CSL shall (or shall cause its Affiliates to)
provide each Service for the period commencing on the date hereof and ending on the earlier to occur of (i) the expiration of the Term, (ii) the Parties mutually agree in writing that such Service is no longer required to be provided by
CSL or its Affiliates, or (iii) the date upon which the trigger event for termination occurs for such Service as set forth in the Services Attachment, subject to earlier termination of this Agreement or termination of all or a portion of the
Services, as set forth in Section 12 hereof. 

  
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Notwithstanding the foregoing, WIN shall (and shall cause its Affiliates to) use commercially reasonable efforts to transition the Services to another, non-transitional provider as quickly as
practicable or, as applicable, to cause WIN and/or its Affiliates to provide the Services. 
 3. Consideration for Services.
As consideration for the Services, WIN shall pay to CSL the service fee for the Services as set forth in the Services Attachment and for all out-of-pocket costs and expenses from third parties actually incurred by CSL in the provision of the
Services that are explicitly set forth in the applicable Services Attachment or otherwise approved in writing (including by electronic mail) by WIN’s Transition Representative or Service Representatives prior to CSL incurring such out-of-pocket
expense; provided, however, CSL shall be excused from performance for Services to the extent CSL’s performance is delayed as a result of WIN’s pre-approval process for third-party costs and expenses (the “Service
Fee”). 
 4. Terms of Payment. 

(a) Not later than thirty (30) calendar days following the end of each calendar month during the Term, CSL shall submit to WIN in
writing an invoice setting out in reasonable detail each Service performed by CSL during the preceding month and the related Service Fee. WIN shall pay the amount shown on each such invoice no later than thirty (30) calendar days after receipt
of such invoice; payment shall be made without withholding or deduction of any kind. If such amount is not received by CSL within such 30-day period, WIN shall also pay CSL interest from and after the last day of such 30-day period following receipt
of such invoice, at a rate per annum equal to the prime lender rate as reported on the last day of the calendar month in respect of such invoice by the Wall Street Journal. 

(b) Any transition, excise, sales, use or similar tax charged to, assessed on or incurred by the rendering of the Services shall be split
equally between CSL, on the one hand, and WIN, on the other hand, and WIN’s share shall be paid to CSL in addition to the Service Fees; provided, however, CSL shall be solely responsible for its own income taxes. 

(c) Should WIN dispute in good faith any portion or the entire amount due on any invoice or require any adjustment to an invoiced
amount, WIN shall promptly notify CSL in writing of the nature and basis of the dispute and/or adjustment within fifteen (15) business days after WIN’s receipt of such invoice. If WIN fails to notify CSL within such 15-day period, the
invoiced amount shall be deemed to be accurate and correct and shall not be subject to dispute or contest by WIN or any Affiliate thereof. In the event WIN timely delivers notice of a dispute and/or adjustment, the Parties shall use their reasonable
best efforts to resolve such matter within thirty (30) calendar days. CSL shall reimburse WIN within fifteen (15) business days following, as applicable (i) agreement by the Parties of any excess payment made by WIN in respect of
Services, or (ii) resolution of any disputed amounts paid in excess of the amount of the costs of such Services, in either case, with interest from and after the date payment was made by WIN through, but excluding, the date of reimbursement by
CSL, at the rate per annum equal to the prime lender rate as reported on the last day of the calendar month in respect of the applicable invoice by the Wall Street Journal. 

(d) WIN and CSL agree to remit payments to each other in accordance with the terms and conditions set forth in the Billing and Remittance
Agreement between the Parties. 

  
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 5. Method of Payment. All amounts payable by WIN hereunder shall be remitted to CSL
in United States dollars to a bank to be designated in the invoice or otherwise in writing by CSL, unless otherwise provided for and agreed upon in writing by the Parties. 

6. Accounting Records and Documents. 

(a) CSL or its Affiliates shall be responsible for maintaining full and accurate accounts and records of all Services rendered pursuant to this
Agreement and such additional information as WIN may reasonably request for purposes of their internal bookkeeping, accounting, operations and management. CSL shall maintain its accounts and records in accordance with past practice; provided,
that, to the extent full and accurate information is not relied upon by CSL in the ordinary course of business with respect to any particular item, unit or market/sub-market, CSL shall maintain such accounts and records on the basis of
appropriate and reasonable allocations. CSL shall keep such accounts and records available, during all reasonable business hours during the Term of this Agreement, at its principal offices, or at such other location as required by applicable Laws,
for audit, inspection and copying by WIN and Persons, upon reasonable notice, authorized by them or any governmental agency having jurisdiction over WIN; provided, that, the costs or expenses incurred by CSL or WIN for any such audit,
inspection or copying shall be the sole responsibility of WIN. 
 (b) At any time during the Term of this Agreement, WIN, or its authorized
independent auditors or counsel, shall have the right to inspect and audit CSL’s accounts, books and records relating to the Services upon five (5) business days prior written notice during regular business hours and without undue
disruption of the normal operations of CSL. 
 (c) All information WIN, its Affiliates and its other authorized Persons gain access to
pursuant to this Section 6 shall be subject to the terms of the confidentiality provisions set forth in Section 13 of this Agreement. 

7. Consents. 
 (a)
If any consent or approval of, or notice to, any third party is required to implement the terms of this Agreement (“Third Party Consent”), CSL and WIN shall each use their respective reasonable endeavors to obtain any Third Party
Consent as soon as reasonably practicable, each at the cost of WIN. If any such Third Party Consent is refused or not obtained within three (3) months after the Distribution Date, the Parties shall co-operate in good faith to agree and
implement reasonable alternative arrangements which achieve the same commercial effect as that contemplated by this Agreement. 
 (b) If
either Party so requests, the other Party shall provide all reasonable assistance in obtaining any Third Party Consent and neither Party will unreasonably do or omit to do anything which would cause any relevant third party to refuse to grant or to
terminate or revoke any Third Party Consent. 

  
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 8. Performance Standards. In providing the Services to WIN under this Agreement,
CSL shall (and shall cause its Affiliates to) provide the Services in a timely and professional manner generally consistent with the past practices of CSL and its Affiliates in providing the same or similar Services to the WIN business prior to the
execution of the Distribution Agreement and in conformance in all material respects with any service levels set forth in the applicable Services Attachment. For purposes of clarity, the Parties agree that the measure of such past performance shall
be, except as otherwise agreed in writing by the Parties, that CSL shall provide each of the Services in substantially the same manner and with substantially the same level of care and service as the manner and the level of care and service with
which such Service was provided during 2014. 
 9. No Representations or Warranties. CSL MAKES NO EXPRESS OR IMPLIED
WARRANTY WITH RESPECT TO THE TRANSITION SERVICES, AT LAW OR IN EQUITY, INCLUDING, WITHOUT LIMITATION, WITH RESPECT TO MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, AND ANY AND ALL REPRESENTATIONS OR WARRANTIES ARE HEREBY EXPRESSLY
DISCLAIMED. 
 10. Status of Employees and Facilities; Proprietary Rights.  

(a) Whenever CSL utilizes its (or its Affiliates’) employees to perform the Services for WIN pursuant to this Agreement, such employees
shall at all times remain subject to the direction and control of CSL (or its Affiliates), and WIN shall have no liability to such Persons for their welfare, salaries, fringe benefits, legally required employer contributions and tax obligations by
virtue of the relationships established under this Agreement. CSL shall have complete discretion to supervise and manage such employees and any third-party contractors providing the Services on behalf of CSL, and CSL is not required to continue
employment for any specific individual personnel of CSL or its Affiliates or to maintain engagements with specific third-party contractors. No equipment or facility of CSL used in performing the Services for or subject to use by WIN shall be deemed
to be transferred, assigned, conveyed or leased by such performance or use. CSL shall maintain appropriate security, maintenance and insurance coverage on such equipment or facility. 

(b) Except as set forth in the Services Attachment, to the extent CSL or its Affiliates use any proprietary intellectual property rights owned by or licensed
to CSL or its Affiliates in providing the Services, such proprietary intellectual property rights and any derivative works thereof, or modifications or improvements thereto, conceived or created as part of the provision of Services
(“Improvements”) will, as between the Parties, remain the sole property of CSL or its Affiliate, as applicable, unless any such Improvement was created for WIN pursuant to a certain Service. If any Improvement is created for WIN
pursuant to a certain Service or other proprietary intellectual property rights are created specifically for WIN pursuant to Services provided under the Services Attachment (a “WIN Specific Improvement”), such WIN Specific
Improvement shall be owned by WIN. The applicable Party will and hereby does assign to the applicable owner designated above, and agrees to assign automatically in the future upon first recordation in a tangible medium or first reduction to
practice, all of such Party’s right, title and interest in and to all Improvements, if any. All rights not expressly granted herein are reserved. 

  
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 11. Indemnification. 

(a) From and after the date of this Agreement, CSL shall indemnify, defend and hold harmless the WIN Indemnified Parties from and against all
Liabilities asserted against, imposed upon or incurred by the WIN Indemnified Parties resulting from, arising out of, based upon or otherwise in respect of any third party claim arising out of the gross negligence or willful misconduct of CSL in the
performance of its obligations under this Agreement, except to the extent any such Liabilities arise out of or result from the gross negligence or willful misconduct of WIN. 

(b) From and after the date of this Agreement, WIN shall indemnify, defend and hold harmless the CSL Indemnified Parties from and against all
Liabilities asserted against, imposed upon or incurred by the CSL Indemnified Parties resulting from, arising out of, based upon or otherwise in respect of any third party claim arising out of the gross negligence or willful misconduct of WIN in the
performance of its obligations under this Agreement, except to the extent any such Liabilities arise out of or result from the gross negligence or willful misconduct of CSL. 

(c) In the event CSL (or any CSL Indemnified Party) or WIN (or any WIN Indemnified Party) shall have a claim for indemnity against the other
party under the terms of this Agreement, the parties shall follow the procedures set forth in Article VII of the Distribution Agreement as if fully set forth herein. 

(d) Independent of, severable from, and to be enforced independently of any other enforceable or unenforceable provision of this Agreement, NO
PARTY WILL BE LIABLE TO ANY OTHER PARTY (NOR TO ANY PERSON CLAIMING RIGHTS DERIVED FROM ANY OTHER PARTY’S RIGHTS) FOR PUNITIVE, EXEMPLARY, SPECIAL, CONSEQUENTIAL OR INDIRECT DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, ANY LOSS OF USE,
LOSS OF BUSINESS, LOSS OF PROFIT OR LOSS OF GOODWILL. Further, indemnification shall be limited to actual damages which in no event shall exceed the total amount of compensation payable to CSL hereunder. 

(e) Except as otherwise provided in this Section 11, CSL’s sole responsibility to WIN for errors or omissions in providing
the Services shall be to re-perform such Services promptly and properly in a diligent manner, at no additional cost or expense; provided, however, that each Party shall use reasonable best efforts to detect any such errors or omissions
and promptly advise the other Party of any such error or omission of which it becomes aware. 
 12. Termination.  

(a) This Agreement may be terminated prior to expiration of the Term in accordance with the following: 

(i) upon the mutual written agreement of the Parties; 

(ii) by either WIN, on the one hand, or CSL, on the other hand, (i) for material breach of any of the terms hereof by WIN or by CSL,
respectively, if such breach is curable within thirty (30) days and such breach shall not have been cured within thirty (30)

  
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calendar days after written notice of breach is delivered to the defaulting Party and (ii) if such breach is not curable within thirty (30) days, such breach shall not have been
addressed by the defaulting Party through a good faith plan to cure such breach; 
 (iii) WIN shall fail to pay for Services in accordance
with the terms of this Agreement (and such payment is not disputed by CSL in good faith in accordance with Section 4(c) hereof) and such breach is not cured within fifteen (15) calendar days after written notice of breach is
delivered to WIN, including by electronic mail to WIN’s Transition Representative; or 
 (iv) by either WIN, on the one hand, or CSL,
on the other hand, upon written notice to WIN, on the one hand, or CSL, on the other hand, if the other Party files a proceeding in bankruptcy, receivership, rehabilitation or reorganization, or for composition, liquidation or dissolution or for
similar relief, or there is a filing against such person of any such proceeding which is not dismissed within sixty (60) calendar days after the filing thereof. 

(b) In addition, this Agreement may be terminated solely with respect to any one or more Service(s) or additional service(s) provided
hereunder prior to the expiration of the Term in accordance with the following: 
 (i) If WIN desires to terminate a Service, WIN shall
complete a Service Termination Request Form, substantially in the form attached hereto as Exhibit 2. In completing the Service Termination Request Form, WIN shall refer to the Service it wishes to terminate (the “Terminated
Service”) as it is specifically named in the Services Attachment or Transition Plan, as applicable. 
 (ii) Unless otherwise set
forth on the Service Termination Request Form, CSL shall cease such Terminated Service(s) or additional service(s) as soon as practicable after CSL’s receipt of the Service Termination Request Form, but in no event later than thirty
(30) calendar days after CSL has received such written notification from WIN. 
 (iii) If a Service is terminated, the Services
Attachment and/or Transition Plan shall be updated, as applicable, to reflect such termination. 
 (c) Immediately following expiration or
termination of this Agreement, each Party shall return to the other Party (and make no further use of) all proprietary information of the other Party in each Party’s possession or control, including, in the case of WIN, any CSL Confidential
Information and, in the case of CSL, any WIN Confidential Information. Likewise, except as necessary to comply with applicable law, within thirty (30) days following any such termination or expiration, each Party shall return to the other Party
(and make no further use of) all copies of all proprietary information of the other Party in each Party’s possession or control, including, in the case of WIN, any CSL Confidential Information and, in the case of CSL, any WIN Confidential
Information. 
 13. Confidentiality. Each Party acknowledges that during the course of providing Services hereunder, or
in the course of receiving Services hereunder, the other Party may disclose to it certain confidential information. Each Party agrees to use such confidential information only for the purposes for which it was disclosed and in accordance with the
terms 

  
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and conditions set forth in Section 8.2 of the Distribution Agreement and the obligations hereunder shall survive until the earlier of (i) five (5) years after the date of final
disclosure of confidential information hereunder or (ii) so long as may be required by Law. 
 14. Independent Contractor
Status. Each Party shall be deemed to be an independent contractor to the other Party. Nothing contained in this Agreement shall create or be deemed to create an employment, agency, joint venture or partnership relationship between WIN and
CSL. The terms of this Agreement are not intended to cause any of the Parties and their Affiliates to become a joint employer for any purpose. Each of the Parties agrees that the provisions of this Agreement as a whole are not intended to, and do
not, constitute control of the other Party (or any Affiliates thereof) or provide it with the ability to control such other Party (or any Affiliates thereof), and each Party expressly disclaims any right or power under this Agreement to exercise any
power whatsoever over the management or policies of the other Party (or any Affiliates thereof). Nothing in this Agreement shall oblige either Party to act in breach of the requirements of any Law applicable to it, including securities and
telecommunications laws, written policy statements of securities commissions, telecommunications and other regulatory authorities, and the by-laws, rules, regulations and written policy statements of relevant securities and self-regulatory
organizations. 
 15. Governing Law. THIS AGREEMENT SHALL BE GOVERNED, CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF DELAWARE (WITHOUT REGARD TO THE CHOICE OF LAW PROVISIONS THEREOF). 
 16. Force Majeure. Neither Party
shall be held liable for any delay or failure in performance of any part of this Agreement (other than outstanding payment obligations hereunder) from acts of God, acts of civil or military authority, embargoes, epidemics, war, terrorist acts,
riots, insurrections, fires, explosions, earthquakes, nuclear accidents, floods, strikes, and power blackouts. Upon the occurrence of a condition described in this Section 16, the Party whose performance is prevented shall give written
notice to the other Party and the Parties shall promptly confer, in good faith, to agree upon equitable, reasonable action to minimize the impact, on both Parties, of such conditions. 

17. Dispute Resolution Procedures.  

(a) Other than such disputed matters addressed by Section 4(c), if a dispute arises between the Parties with respect to the terms
and conditions of this Agreement, a Party’s performance of its obligations hereunder, or any matter relating to the Services (“Dispute”), the Parties agree to use and follow this dispute resolution procedure described in this
Section 17 prior to initiating any judicial action. 
 (b) Claims Procedure. If a Party shall have a Dispute, such Party
shall provide written notice to the other Party in accordance with the provisions of Section 19 of this Agreement, in the form of a claim identifying the nature of the Dispute in sufficient detail to describe the basis for the claim (a
“Dispute Notice”). Upon receipt of the Dispute Notice, the other Party shall have five (5) calendar days to provide a written response to the Dispute Notice (the “Response”). The Party providing the Dispute
Notice shall have an additional five (5)

  
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calendar days following its receipt of the Response to accept the proposed resolution or to request implementation of the procedure set forth in Section 17(c) below (the
“Escalation Procedure”). Failure to comply with the time limitations set forth in this Section 17 may result in the implementation of the Escalation Procedures. 

(c) Escalation Procedure. At the written request of a Party involved in the Dispute and in compliance with Section 17(b),
each Party shall appoint a knowledgeable, responsible representative to negotiate in good faith to resolve such Dispute (the “Representatives”). The Parties intend that the Representatives shall be empowered to decide the issues
presented in any Dispute. The Representatives will attempt to resolve the Dispute within five (5) business days of receiving the written request. If the Dispute cannot be resolved within that time period, then the Parties may resort to judicial
action or other remedies. During the time period of any Dispute, each Party shall continue to perform its respective obligations under this Agreement (except in the event WIN fails to pay amounts due in accordance with Section 4
hereunder). 
 18. Amendments; Waivers. No alteration, modification or change of this Agreement, including the Services set
forth on the Services Attachment, shall be valid except by an agreement in writing executed by the Parties. Except as otherwise expressly set forth herein, no failure or delay by any Party in exercising any right, power or privilege hereunder (and
no course of dealing between or among any of the Parties) shall operate as a waiver of any such right, power or privilege. No waiver of any default on any one occasion shall constitute a waiver of any subsequent or other default. No single or
partial exercise of any such right, power or privilege shall preclude the further or full exercise thereof 
 19. Notices. All
notices, demands and requests required or permitted to be given under the provisions of this Agreement shall be (i) in writing, (ii) sent by facsimile (with receipt personally confirmed by telephone), delivered by personal delivery, or
sent by commercial delivery service or certified mail, return receipt requested, (iii) deemed to have been given on the date telecopied with receipt confirmed, the date of personal delivery, or the date set forth in the records of the delivery
service or on the return receipt, and (iv) addressed as follows: 
 If to WIN: 

Windstream Services, LLC 
 4001
Rodney Parham Rd. 
 Mailstop: B1F3-71A 

Little Rock, AR 72212 
 Attn:
General Counsel 
 Fax No.: 501-748-7400 

  
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 If to CSL: 

CSL National, L.P. 
 1701
Centerview Dr. 
 Suite 300 

Little Rock, AR 72211 
 Attn:
TBD 
 or to any other or additional persons and addresses as the Parties may from time to time designate in a writing delivered in accordance with this
Section 19. 
 20. Assignment; Benefit and Binding Effect. No Party may assign this Agreement without the
prior written consent of each of the other Party; provided, however, WIN, without the consent of CSL, may assign this Agreement to any Affiliate of WIN, and CSL may, without the consent of WIN, assign this Agreement to any Affiliate of
CSL, but none of the assignments described in this sentence shall relieve the assignor of its obligations hereunder and, provided further, that any Party may make a collateral assignment of its rights hereunder for the benefit of its lenders. This
Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns. The provisions of this Agreement shall be for the exclusive benefit of the Parties (and their successors and
permitted assigns) and shall not be for the benefit of any other Person. 
 21. Severability. If any provision of this
Agreement or the application thereof to any Person or circumstance shall be invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be affected thereby
and shall be enforced to the greatest extent permitted by Law. Upon such determination that any term or other provision is invalid or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original
intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the greatest extent possible.  

22. Entire Agreement. The Distribution Agreement, this Agreement, the Billing and Remittance Agreement, and the Schedules and
Exhibits hereto and thereto collectively represent the entire understanding and agreement of the Parties with respect to the subject matter of this Agreement. Each Party hereby represents, acknowledges and agrees that it has not relied on any
representation, warranty, covenant, understanding, agreement, written or oral, discussion, or negotiation not expressly contained herein or in the Distribution Agreement in entering into this Agreement. 

23. Captions. The captions contained in this Agreement are for reference purposes only and are not part of this Agreement. 

24. Counterparts. This Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were
upon the same instrument. 

  
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 25. Specific Performance. The Parties acknowledge that monetary damages may not be
an adequate remedy for violations of this Agreement and that any Party may, in its sole discretion and in addition to all other rights and remedies available in law or in equity, to the extent permitted hereunder, apply for specific performance or
injunctive or other relief with a court of competent jurisdiction as such court may deem just and proper in order to enforce this Agreement or to prevent violation hereof and, to the extent permitted by applicable Law, each Party waives any
objection to the imposition of such relief. 
 26. Remedies Cumulative. All rights, powers and remedies provided under this
Agreement or otherwise available in respect hereof at law or in equity shall, be cumulative and not alternative, and the exercise or beginning of the exercise of any right, power or remedy thereof by a Party shall not preclude the simultaneous or
later exercise of any other such right, power or remedy by such Party. 
 27. Fees and Expenses. Except as otherwise provided
in this Agreement and the Exhibit hereto, each Party shall pay its own expenses incurred in connection with the authorization, preparation, execution, and performance of this Agreement, including all fees and expenses of counsel, accountants,
agents, and representatives, and each Party shall be responsible for all fees or commissions payable to any finder, broker, advisor, or similar Person retained by or on behalf of such Party. 

28. Survival. The provisions of Sections 4, 8 through 28, 30 and 31 shall survive the
expiration or earlier termination of this Agreement. 
 29. General Cooperation. Subject to the terms and conditions set forth
in this Agreement, CSL’s obligations under this Agreement shall be conditioned on WIN using all commercially reasonable efforts to provide information and documentation sufficient for CSL to perform the Services as they were performed prior to
the date of this Agreement, and make available, as reasonably requested by CSL, sufficient resources and timely decisions, approvals and acceptances in order that CSL accomplish its obligations under this Agreement in a timely and efficient manner.

 30. Controlling Provisions. If there is any conflict or inconsistency between the terms and conditions set forth in the
main body of this Agreement and the Services Attachment, the provisions of the Services Attachment shall control with respect to the rights and obligations of the Parties regarding the Services. If there is any conflict or inconsistency between the
terms and conditions of this Agreement and the Distribution Agreement, the provisions of this Agreement shall control solely with respect to the rights and obligations of the Parties regarding the Services. 

31. No Set-Off. The obligations under this Agreement shall not be subject to set-off for non-performance or any monetary or
non-monetary claim by any Party or any of their respective Affiliates under any other agreement between the Parties or any of their respective Affiliates. 

32. Parties in Interest. Other than Persons entitled to receive indemnification under Section 10, nothing in this
Agreement, express or implied, is intended to confer on any Person other than the Parties and their respective successors and permitted assigns any rights or remedies under or by virtue of this Services Agreement. Each CSL Indemnified Party other
than CSL, and each WIN Indemnified Party other than WIN, is an express, third-party beneficiary of Section 11. 

  
 12 

 33. Data Protection. Each Party shall comply with its obligations under all
applicable data protection laws in respect of the Services to be provided under this Agreement. Each Party agrees in respect of any such personal data supplied to it by the other Party that it shall: (a) only act on instructions from the other
Party regarding the processing of such personal data under this Agreement and shall ensure that appropriate technical and organizational measures shall be taken against unauthorized or unlawful processing of the personal data and against
accidental loss or destruction of, or damage to, the personal data; and (b) comply with any reasonable request made by the other Party to ensure compliance with the measures contained in this Section. 

34. Further Assurances. Each Party shall perform all other acts and execute and deliver all other documents as may be necessary
to secure all necessary authorizations and approvals of this Agreement by all applicable governmental bodies in the United States of America, and as otherwise may be required to give effect to the terms and conditions of this Agreement. 

[Remainder of page intentionally left blank] 

  
 13 

 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed on its behalf on
the day and year first above written. 
  

			
	CSL NATIONAL, L.P.
		
	By:		  

	Name:		
	Title:		

  

			
	WINDSTREAM SERVICES, LLC
		
	By:		  

	Name:		
	Title:		

 Signature Page to Transition Services Agreement 

 EXHIBIT 1 

SERVICES ATTACHMENT – SUMMARY SERVICES DESCRIPTION 

 

					
	 Business Function

Category
	  	 Term
	  	 Detailed Service Description

			
	 Customer Service
 Support
	  	90 days, or upon conversion of McLeod customers into the WINCare billing platform	  	Using TAS current processes, TAS shall provide the following customer service support to WIN for McLeod CLEC residential customers: (i) support for inbound/outbound customer telephone calls, emails, written correspondence, etc.;
(ii) order processing support including in-orders, out-orders, cancellations, and changes to customer accounts; (iii) the ability to move customer service representatives to different call queues based on call volume; (iv) support for customer
disconnect requests and calls; (v) customer adjustment processing including online adjustments, etc.; and (vi) customer payment processing including online payments, etc. TAS will retain liability for bad debts, insufficient checks, etc.

 EXHIBIT 2 

SERVICES TERMINATION REQUEST FORM 
  

					
	  

Service Termination Request Form
  

	  
  

        [Insert WIN Logo]

 
  
		 		  

 
 [Insert CSL Logo]

 
  

  

 

					
	 Requesting Company:

 
		 		
	 Date of Request:

 
		 		
	 Completed By:

 
		 		
	 Service to be Changed:

 
		 		

  
  

  

 

Requested Service Termination 
  

											
	    Item    
    #      		Service		
Service Provider
 (Company)
		Service Recipient
(Company)		Estimated Cost		Requested
Termination Date
	 	 	 	 	 	 
	    1      		 		 		 		 		 
	 	 	 	 	 	 
	    2      		 		 		 		 		 
	 	 	 	 	 	 
	    3      		 		 		 		 		 
	 	 	 	 	 	 
	    4      		 		 		 		 		 
	 	 	 	 	 	 
	    5      		 		 		 		 		 
	 	 	 	 	 	 
	    6      		 		 		 		 		 

  

 
  

			
	Acknowledgements
	 Functional TSA Owner: [insert
Receiving Functional Lead name]
 X
		 Functional TSA Owner: [insert Providing Functional Lead name]

X

	On Behalf of [insert NewCo name]		On Behalf of [insert ParentCo name]
	 	  	 
	Contract Manager: [insert CSL CM Name]		Contract Manager: [insert WIN CM Name]
	X		X
	On Behalf of CSL National, L.P.		On Behalf of Windstream Services, LLCEX-10.12

 Exhibit 10.12 

COMMUNICATIONS SALES & LEASING, INC. 

2015 EQUITY INCENTIVE PLAN 

1. Purpose of the Plan. The purpose of this 2015 Equity Incentive Plan (this “Plan”) is to attract, retain and
motivate the consultants, directors, officers and other key employees of Communications Sales & Leasing, Inc. (the “Company”) and its Affiliates and to provide to such persons incentives and rewards for superior performance
and contribution. 
 2. Definitions. Capitalized terms used herein have the meanings assigned to such terms in this Section 2.

 “Affiliate” means any corporation that is a Subsidiary of the Company and, for purposes other than the grant of
Incentive Stock Options, any limited liability company, partnership, corporation, joint venture, or any other entity in which the Company or any such Subsidiary owns an equity interest. 

“Applicable Laws” means the requirements relating to the administration of equity-based compensation plans under U.S. state
corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Shares are listed or quoted and the applicable laws of any other country or jurisdiction where awards are granted under this
Plan, in each case as applicable to an award made hereunder. 
 “Appreciation Right” means a right granted pursuant to
Section 5 or Section 9 of this Plan, and shall include both Tandem Appreciation Rights and Free-Standing Appreciation Rights. 

“Base Price” means the price to be used as the basis for determining the Spread upon the exercise of a Free-Standing
Appreciation Right or a Tandem Appreciation Right. 
 “Board” means the Board of Directors of the Company. 

“Cause” means, except as otherwise provided in an Evidence of Award: (a) the failure of the Participant to make a good
faith effort to substantially perform his or her duties (other than any such failure due to the Participant’s Disability) or Participant’s insubordination with respect to a specific directive of the Participant’s supervisor or officer
(or, if such Participant reports directly to the Board, the Board) to which the Participant reports directly or indirectly; (b) Participant’s dishonesty, gross negligence in the performance of the duties of his or her employment or
engaging in willful misconduct, which in the case of any such gross negligence, has caused or is reasonably expected to result in direct or indirect material injury to the Company or any of its Affiliates; (c) breach by Participant of any
material provision of any written agreement with the Company or any of its Affiliates or material violation of any Company policy applicable to Participant; or (d) Participant’s commission of a crime that constitutes a felony or other
crime of moral turpitude or fraud. If, subsequent to Participant’s termination of employment hereunder for other than Cause, it is determined in good faith by the Company that Participant’s employment could have been terminated for Cause
hereunder, Participant’s employment shall, at the election of the Company, be deemed to have been terminated for Cause retroactively to the date the events giving rise to Cause occurred. 

 “Change in Control” means, except as otherwise provided in an Evidence of Award,
the occurrence of any of the following: 
 a. any sale, lease, exchange or other transfer (in one transaction or a series of related
transactions) of all or substantially all of the assets of the Company to any Person or group of related Persons for purposes of Section 13(d) of the Exchange Act (a “Group”), together with any affiliates thereof; 

b. the commencement of the liquidation or dissolution of the Company that occurs following the approval by the holders of capital stock of the
Company of any plan or proposal for such liquidation or dissolution of the Company; 
 c. any Person or Group becomes the beneficial owner
(within the meaning of Section 13(d) of the Exchange Act), directly or indirectly, of shares representing more than 50% of the aggregate voting power of the issued and outstanding stock entitled to vote in the election of directors, managers or
trustees of the Company and such Person or Group actually has the power to vote such shares in any such election; 
 d. the replacement of a
majority of the Board over a two-year period from the directors who constituted the Board at the beginning of such period, and such replacement shall not have been approved by a vote of at least a majority of the Board then still in office who
either were members of such Board at the beginning of such period; or 
 e. a merger or consolidation of the Company with another entity in
which holders of the Common Shares immediately prior to the consummation of the transaction hold, directly or indirectly, immediately following the consummation of the transaction, 50% or less of the common equity interest in the surviving
corporation in such transaction. 
 Notwithstanding anything herein to the contrary, an event described above shall be considered a Change
in Control hereunder only if it also constitutes a “change in control event” under Section 409A of the Code, to the extent necessary to avoid the adverse tax consequences thereunder with respect to any award subject to
Section 409A of the Code. 
 “Code” means the Internal Revenue Code of 1986 and the rules and regulations promulgated
thereunder, as such law, rules and regulations may be amended, supplemented or replaced from time to time. 
 “Committee”
means the committee of directors appointed by the Board to administer this Plan. In the absence of a specific appointment, “Committee” means the Compensation Committee of the Board. 

“Common Shares” means shares of common stock, par value $0.0001, of the Company or any security into which such Common Shares
may be changed by reason of any transaction or event of the type referred to in Section 12 of this Plan. 
 “Covered
Employee” means a Participant who is, or is determined by the Committee to be likely to become, a “covered employee” within the meaning of Section 162(m) of the Code (or any successor provision). 

  
 2 

 “Date of Grant” means the date specified by the Committee on which a grant of
Option Rights, Appreciation Rights, Performance Units or Performance Shares or a grant or sale of Restricted Shares or Restricted Stock Units, or awards granted under Section 10 of this Plan shall become effective (which date will not be
earlier than the date on which the Committee takes action with respect thereto). 
 “Director” means a member of the Board.

 “Disability” means, except as otherwise provided in an Evidence of Award, that the Participant is unable to engage in
any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months,
provided, however, for purposes of determining the term of an Incentive Stock Option, the term Disability shall have the meaning ascribed to it under Section 22(e)(3) of the Code. The determination of whether an individual has a Disability
shall be determined under procedures established by the Committee. Except in situations where the Committee is determining Disability for purposes of the term of an Incentive Stock Option within the meaning of Section 22(e)(3) of the Code, the
Committee may rely on any determination that a Participant is disabled for purposes of benefits under any long-term disability plan maintained by the Company or any Affiliate in which a Participant participates, provided that the definition of
disability applied under such disability plan meets the requirements of a Disability in the first sentence hereof. 
 “Evidence of
Award” means an agreement, certificate, resolution or other type or form of writing or other evidence approved by the Committee which sets forth the terms and conditions of the Option Rights, Appreciation Rights, Performance Units,
Performance Shares, Restricted Shares, Restricted Stock Units, or awards granted under Section 10 of this Plan. An Evidence of Award may be in an electronic medium, may be limited to a notation on the books and records of the Company and, with
the approval of the Committee, need not be signed by a representative of the Company or a Participant. 
 “Exchange Act”
means the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, as such law, rules and regulations may be amended, supplemented or replaced from time to time. 

“Free-Standing Appreciation Right” means an Appreciation Right granted pursuant to Section 5 or Section 9 of this
Plan that is not granted in tandem with an Option Right. 
 “Good Reason” means any one of the following: (a) a
material diminution in Participant’s base compensation; (b) a material diminution in authority, duties, or responsibilities of Participant; (c) a material diminution in the budget over which Participant retains authority; (d) a
material change in the geographic location (i.e., to a location more than 50 miles from the Participant’s primary work location prior to such change) at which Participant is required to perform services; and (e) any other action or
inaction that constitutes a material breach of the Participant’s employment agreement, if any, with the Company or any Affiliate; provided, however, that for the Participant to be able to resign for “Good Reason,” the Participant must
give the Company and the applicable Affiliate, if any, notice of the above conditions within 90 days after the condition first exists, the Company and/or Affiliate must not have not remedied the condition within 30 days after receiving written
notice, and the Participant must resign within 60 days after the Company’s and/or Affiliate’s failure to remedy. 
  

  
 3 

 “Incentive Stock Options” means Option Rights that are intended to qualify as
“incentive stock options” under Section 422 of the Code or any successor provision. 
 “Management
Objectives” means the measurable performance objective or objectives established pursuant to this Plan for Participants who have received grants of Performance Units or Performance Shares or, when so determined by the Committee, Option
Rights, Appreciation Rights, Restricted Shares and Restricted Stock Units pursuant to this Plan. Management Objectives may be described in terms of Company-wide objectives or objectives that are related to the performance of the individual
Participant or of the Affiliate, Subsidiary, division, department, region or function within the Company, Affiliate or Subsidiary in which the Participant is employed and may be made relative to the performance of other companies. The Management
Objectives applicable to any award to a Covered Employee that is intended to qualify for the performance-based compensation exception to Section 162(m) of the Code shall be based on specified levels of or growth in one or more of the following
criteria: revenues, weighted average revenue per unit, earnings from operations, operating income, earnings before or after interest and taxes, operating income before or after interest and taxes, net income, cash flow, earnings per share, debt to
capital ratio, economic value added, return on total capital, return on invested capital, return on equity, return on assets, total return to stockholders, earnings before or after interest, taxes, depreciation, amortization or extraordinary or
special items, operating income before or after interest, taxes, depreciation, amortization or extraordinary or special items, return on investment, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by
operations, funds from operations, adjusted funds from operations, cash flow in excess of cost of capital, operating margin, operating expenses, gross expense management, profit margin, contribution margin, stock price and/or strategic business
criteria consisting of one or more objectives based on meeting specified product development, strategic partnering, research and development, market penetration, geographic business expansion goals (e.g., opening of new offices in new geographic
areas) cost targets, customer satisfaction, gross or net additional customers, average customer life, employee satisfaction, management of employment practices and employee benefits, supervision of litigation and information technology, and goals
relating to acquisitions or divestitures of subsidiaries, affiliates and joint ventures. Management Objectives may be stated as a combination of the listed factors. If the Committee determines that a change in the business, operations, corporate
structure or capital structure of the Company, or the manner in which it conducts its business, or other events or circumstances (including those events and circumstances described in Section 12 of this Plan) render the Management Objectives
unsuitable, the Committee may, at its discretion, modify such Management Objectives or the related minimum acceptable level of achievement, in whole or in part, as the Committee deems appropriate and equitable, except in the case of a Covered
Employee to the extent that such action would result in the loss of the otherwise available exemption of the award under Section 162(m) of the Code. 

“Market Value per Share” means, as of any particular date, (i) the closing sale price per Common Share as reported on
the principal exchange on which Common Shares are then trading, or if there are no sales on such day, on the next preceding trading day during which a sale occurred, or (ii) if the Common Shares are not then-currently traded on an exchange, the
fair market value of a Common Share as determined by the Committee in discretion. 

  
 4 

 “Non-Employee Director” means a member of the Board who is a “non-employee
director” within the meaning of Rule 16b-3 under the Exchange Act. 
 “Optionee” means the optionee named in an
agreement evidencing an outstanding Option Right. 
 “Option Price” means the purchase price payable on exercise of an
Option Right. 
 “Option Right” means the right to purchase Common Shares upon exercise of an option granted pursuant to
Section 4 or Section 9 of this Plan. 
 “Participant” means a person who is selected by the Committee to receive
benefits under this Plan and who is at the time an officer, consultant or other key employee of the Company or any Affiliate and also includes each Non-Employee Director who receives an award of Option Rights, Appreciation Rights, Restricted Shares,
Restricted Stock Units or any awards under Section 10 of this Plan. 
 “Performance Period” means, in respect of a
Performance Unit or Performance Share, a period of time established pursuant to Section 6 of this Plan within which the Management Objectives relating to such Performance Share or Performance Unit are to be achieved. 

“Performance Share” means a bookkeeping entry that records the equivalent of one Common Share awarded pursuant to
Section 6 of this Plan. 
 “Performance Unit” means a bookkeeping entry that records a unit equivalent to $1.00
awarded pursuant to Section 6 of this Plan. 
 “Person” means an individual, partnership, corporation, limited
liability company, unincorporated organization, trust or joint venture, or a governmental agency or political subdivision thereof. 

“Restricted Shares” means Common Shares granted or sold pursuant to Section 7 or Section 9 of this Plan as to which
neither the substantial risk of forfeiture nor the prohibition on transfers referred to in such Section 7 has expired. 

“Restricted Stock Units” means an award made pursuant to Section 8 or Section 9 of this Plan. 

“Restriction Period” means the period of time during which Restricted Stock Units are subject to deferral limitations under
Section 8 of this Plan. 
 “Spread” means the excess of the Market Value of a Share on the date when an Appreciation
Right is exercised, or on the date when Option Rights are surrendered in payment of the Option Price of other Option Rights, over the per share Option Price or per share Base Price provided for in the related Option Right or Free-Standing
Appreciation Right, respectively. 
 “Subsidiary” means a “subsidiary corporation,” as that term is defined in
Section 424(f) of the Code, or any successor provision. 

  
 5 

 “Tandem Appreciation Right” means an Appreciation Right granted pursuant to
Section 5 or Section 9 of this Plan that is granted in tandem with an Option Right. 
 3. Shares Available Under the Plan.
 
 a. Subject to adjustment as provided in Section 12 of this Plan, the number of Common Shares that may be issued or
transferred (i) upon the exercise of Option Rights or Appreciation Rights, (ii) as Restricted Shares, (iii) in payment of Restricted Stock Units, (iv) in payment of Performance Units or Performance Shares that have been earned,
(v) as awards to Non-Employee Directors, (vi) in payment of awards granted under Section 10 of this Plan or (vii) in payment of dividend equivalents paid with respect to awards made under the Plan shall not exceed in the
aggregate 6,000,000 Common Shares, plus any shares relating to awards that expire, are forfeited or cancelled. Notwithstanding anything to the contrary contained herein: (A) Common Shares tendered in payment of the Option Price of an Option
Right shall not be added to the aggregate Plan limit described above; (B) Common Shares withheld by the Company to satisfy the tax withholding obligation shall not be added to the aggregate Plan limit described above; (C) Common Shares
that are repurchased by the Company with Option Right proceeds shall not be added to the aggregate Plan limit described above; and (D) all Common Shares covered by an Appreciation Right, to the extent that it is exercised and settled in Common
Shares, and whether or not Common Shares are actually issued to the Participant upon exercise of the right, shall be considered issued or transferred pursuant to the Plan. Such Common Shares may be shares of original issuance or treasury shares or a
combination of the foregoing. 
 b. If, under this Plan, a Participant has elected to give up the right to receive compensation in exchange
for Common Shares based on fair market value, such Common Shares will not count against the number of shares available in Section 3(a) above. 

c. Notwithstanding anything in this Section 3, or elsewhere in this Plan, to the contrary and subject to adjustment as provided in
Section 12 of this Plan, (i) the aggregate number of Common Shares actually issued or transferred by the Company upon the exercise of Incentive Stock Options shall not exceed 2,000,000 Common Shares; and (ii) no Participant shall be
granted Option Rights and Appreciation Rights, in the aggregate, for more than 2,000,000 Common Shares during any calendar year. 
 d.
Notwithstanding any other provision of this Plan to the contrary, in no event shall any Participant in any calendar year receive an award of (i) Performance Shares, Restricted Shares or Restricted Stock Units that specify Management Objectives,
in the aggregate, for more than 1,000,000 Common Shares or (ii) Performance Units having an aggregate maximum value as of their respective Dates of Grant in excess of $5,000,000. 

4. Option Rights. The Committee may, from time to time and upon such terms and conditions as it may determine, authorize the granting
to Participants of Option Rights. Each such grant may utilize any or all of the authorizations, and shall be subject to all of the limitations, contained in the following provisions: 

a. Each grant shall specify the number of Common Shares to which it pertains. 

  
 6 

 b. Each grant shall specify an Option Price per share, which may not be less than the Market
Value per Share on the Date of Grant. 
 c. Each grant shall specify whether the Option Price shall be payable (i) in cash or by check
acceptable to the Company, (ii) by the actual or constructive transfer to the Company of nonforfeitable, unrestricted Common Shares owned by the Optionee having a value at the time of exercise equal to the total Option Price, on such basis as
the Committee may determine, (iii) in any other legal consideration that the Committee may deem appropriate, on such basis as the Committee may determine, or (iv) by a combination of such methods of payment. 

d. To the extent permitted by law, any grant may provide for (i) deferred payment of the Option Price from the proceeds of sale through a
bank or broker on a date satisfactory to the Company of some or all of the shares to which such exercise relates; (ii) payment of the Option Price, at the election of the Optionee, in installments or using a promissory note, upon terms
determined by the Committee in its discretion; or (iii) any combination of such methods. 
 e. Successive grants may be made to the same
Participant whether or not any Option Rights previously granted to such Participant remain unexercised. 
 f. Each grant shall specify the
period or periods of continuous service by the Optionee with the Company or any Affiliate that is necessary before the Option Rights or installments thereof will become exercisable and may provide for accelerated vesting of such Option Rights in the
event of a Change in Control, retirement, death or Disability of the Optionee or other similar transaction or event as approved by the Committee; provided that in no event will any Option Right vest or become exercisable early solely as the result
of a Change in Control. 
 g. Any grant of Option Rights may specify Management Objectives that must be achieved as a condition to the
exercise of such rights. 
 h. Option Rights granted under this Plan may be (i) Incentive Stock Options, that are intended to qualify
under Section 422 of the Code (or any successor to such section), (ii) “nonqualified stock options” that are not intended to so qualify, or (iii) a combination of the foregoing. Incentive Stock Options may only be granted to
Participants who meet the definition of “employees” under Section 3401(c) of the Code on the Date of Grant. 
 i. The exercise
of an Option Right shall result in the cancellation on a share-for-share basis of any Tandem Appreciation Right authorized under Section 5 of this Plan. 

j. No Option Right shall be exercisable more than 10 years from the Date of Grant. 

k. Each grant of Option Rights shall be evidenced by an Evidence of Award which shall contain such terms and provisions, consistent with this
Plan and applicable sections of the Code, as the Committee may approve. 
 l. The Committee may, at the Date of Grant of any Option Rights
(other than Incentive Stock Options), provide for the payment of dividend equivalents to the Optionee on either a current or deferred or contingent basis or may provide that such equivalents shall be credited against the Option Price. 

  
 7 

 5. Appreciation Rights.  

a. The Committee may authorize the granting (i) to any Optionee, of Tandem Appreciation Rights in respect of Option Rights granted
hereunder, and (ii) to any Participant, of Free-Standing Appreciation Rights. A Tandem Appreciation Right shall be a right of the Optionee, exercisable by surrender of the related Option Right, to receive from the Company an amount determined
by the Committee, which shall be expressed as a percentage of the Spread (not exceeding 100 percent) at the time of exercise. Tandem Appreciation Rights may be granted at any time prior to the exercise or termination of the related Option Rights;
provided, however, that a Tandem Appreciation Right awarded in relation to an Incentive Stock Option must be granted concurrently with such Incentive Stock Option. A Free-Standing Appreciation Right shall be a right of the Participant to receive
from the Company an amount determined by the Committee, which shall be expressed as a percentage of the Spread (not exceeding 100 percent) at the time of exercise. 

b. Each grant of Appreciation Rights may utilize any or all of the authorizations, and shall be subject to all of the requirements, contained
in the following provisions: 
 (i) Any grant may specify that the amount payable on exercise of an Appreciation Right may be paid by the
Company in cash, in Common Shares or in any combination thereof and may either grant to the Participant or retain in the Committee the right to elect among those alternatives. 

(ii) Any grant may specify that the amount payable on exercise of an Appreciation Right may not exceed a maximum specified by the Committee at
the Date of Grant. 
 (iii) Each grant shall specify the period or periods of continuous service by the Participant with the Company or any
Affiliate that is necessary before the Appreciation Right or installments thereof will become exercisable and may provide for accelerated vesting of such Appreciation Rights in the event of a Change in Control, retirement, death or Disability of the
Participant or other similar transaction or event as approved by the Committee; provided that in no event will any Appreciation Right vest or become exercisable early solely as the result of a Change in Control. 

(iv) Each grant of an Appreciation Right shall be evidenced by an Evidence of Award, which shall describe such Appreciation Right, identify
any related Option Right, state that such Appreciation Right is subject to all the terms and conditions of this Plan, and contain such other terms and provisions, consistent with this Plan and applicable sections of the Code, as the Committee may
approve. 
 (v) Any grant may provide for the payment to the Participant of dividend equivalents thereon in cash or Common Shares on a
current, deferred or contingent basis. 
 c. Any grant of Tandem Appreciation Rights shall provide that such Rights may be exercised only at
a time when the related Option Right is also exercisable and at a time when the Spread is positive, and by surrender of the related Option Right for cancellation. 
  

  
 8 

 d. Regarding Free-Standing Appreciation Rights only: 

(i) Each grant shall specify in respect of each Free-Standing Appreciation Right a Base Price, which shall not be less than the Market Value
per Share on the Date of Grant; 
 (ii) Successive grants may be made to the same Participant regardless of whether any Free-Standing
Appreciation Rights previously granted to the Participant remain unexercised; and 
 (iii) No Free-Standing Appreciation Right granted under
this Plan may be exercised more than 10 years from the Date of Grant. 
 e. Any grant of Appreciation Rights may specify Management
Objectives that must be achieved as a condition to exercise such rights. 
 6. Performance Units and Performance Shares. The
Committee may also authorize the granting to Participants of Performance Units and Performance Shares that will become payable to a Participant upon achievement of specified Management Objectives. Each such grant may utilize any or all of the
authorizations, and shall be subject to all of the limitations, contained in the following provisions: 
 a. Each grant shall specify the
number of Performance Units or Performance Shares to which it pertains, which number may be subject to adjustment to reflect changes in compensation or other factors; provided, however, that no such adjustment shall be made in the case of a Covered
Employee where such action would result in the loss of the otherwise available exemption of the award under Section 162(m) of the Code. 

b. The Performance Period with respect to each Performance Unit or Performance Share shall be such period of time commencing with the Date of
Grant as shall be determined by the Committee at the time of grant. Each grant may provide for the earlier lapse or other modification of such Performance Period in the event of a Change in Control, retirement, or death or Disability of the
Participant or other similar transaction or event as approved by the Committee. 
 c. Any grant of Performance Units or Performance Shares
shall specify Management Objectives which, if achieved, will result in payment of the award, and each grant may specify in respect of such specified Management Objectives a minimum acceptable level of achievement and shall set forth a formula for
determining the number of Performance Units or Performance Shares that will be earned if performance is at or above the minimum level, but falls short of full achievement of the specified Management Objectives. Each grant of Performance Units or
Performance Shares shall specify that, before any Performance Shares or Performance Units are earned and paid, the Committee must determine that at least the minimum level of Management Objectives has been satisfied. 

d. Each grant shall specify the time and manner of payment of Performance Units or Performance Shares that have been earned. Any grant may
specify that the amount payable with respect thereto may be paid by the Company to the Participant in cash, in Common Shares or in any combination thereof, and may either grant to the Participant or retain in the Committee the right to elect among
those alternatives. 

  
 9 

 e. Any grant of Performance Units may specify that the amount payable or the number of Common
Shares issued with respect thereto may not exceed maximums specified by the Committee at the Date of Grant. Any grant of Performance Shares may specify that the amount payable with respect thereto may not exceed a maximum specified by the Committee
at the Date of Grant. 
 f. Each grant of Performance Units or Performance Shares shall be evidenced by an Evidence of Award, which shall
contain such terms and provisions, consistent with this Plan and applicable sections of the Code, as the Committee may approve. 
 g. The
Committee may, at the Date of Grant of Performance Shares, provide for the payment of dividend equivalents to the holder thereof on either a current or deferred or contingent basis, either in cash or in additional Common Shares. 

7. Restricted Shares. The Committee may also authorize the grant or sale of Restricted Shares to Participants. Each such grant or sale
may utilize any or all of the authorizations, and shall be subject to all of the limitations, contained in the following provisions: 
 a.
Each such grant or sale shall constitute an immediate transfer of the ownership of Common Shares to the Participant in consideration of the performance of services, entitling such Participant to voting, dividend and other ownership rights (unless
otherwise determined by the Committee), but subject to the substantial risk of forfeiture and restrictions on transfer hereinafter referred to. 

b. Each such grant or sale may be made without additional consideration or in consideration of a payment by such Participant that is less than
Market Value per Share at the Date of Grant. 
 c. Each such grant or sale shall provide that the Restricted Shares covered by such grant or
sale shall be subject to a “substantial risk of forfeiture” within the meaning of Section 83 of the Code for a period to be determined by the Committee at the Date of Grant and may provide for the earlier lapse of such substantial
risk of forfeiture in the event of a Change in Control, retirement, or death or Disability of the Participant or other similar transaction or event as approved by the Committee; provided that in no event will such substantial risk of forfeiture
lapse early solely as the result of a Change in Control. 
 d. Each such grant or sale shall provide that during the period for which such
substantial risk of forfeiture is to continue, the transferability of the Restricted Shares shall be prohibited or restricted in the manner and to the extent prescribed by the Committee at the Date of Grant (which restrictions may include, without
limitation, rights of repurchase or first refusal in the Company or provisions subjecting the Restricted Shares to a continuing substantial risk of forfeiture in the hands of any transferee). 

e. Any grant of Restricted Shares may specify Management Objectives that, if achieved, will result in termination or early termination of the
restrictions applicable to such shares. Each grant may specify in respect of such Management Objectives a minimum acceptable level of achievement and may set forth a formula for determining the number of Restricted Shares on which restrictions will
terminate if performance is at or above the minimum level, but falls short of full achievement of the specified Management Objectives. 
  

  
 10 

 f. Any such grant or sale of Restricted Shares may require that any or all dividends or other
distributions paid thereon during the period of such restrictions be automatically deferred and reinvested in additional Restricted Shares, which may be subject to the same restrictions as the underlying award. 

g. Each grant or sale of Restricted Shares shall be evidenced by an Evidence of Award, which shall contain such terms and provisions,
consistent with this Plan and applicable sections of the Code, as the Committee may approve. Unless otherwise directed by the Committee, all certificates representing Restricted Shares shall be held in custody by the Company until all restrictions
thereon shall have lapsed, together with a stock power or powers executed by the Participant in whose name such certificates are registered, endorsed in blank and covering such Shares. 

8. Restricted Stock Units. The Committee may also authorize the grant or sale of Restricted Stock Units to Participants. Each such
grant or sale may utilize any or all of the authorizations, and shall be subject to all of the requirements contained in the following provisions: 

a. Each such grant or sale shall constitute the agreement by the Company to deliver Common Shares, pay an amount in cash, or pay a combination
of Common Shares and cash to the Participant in the future in consideration of the performance of services, but subject to the fulfillment of such conditions during the Restriction Period as the Committee may specify. 

b. Each such grant or sale may be made without additional consideration or in consideration of a payment by such Participant that is less than
the Market Value per Share at the Date of Grant. 
 c. Each such grant or sale shall be subject to a Restriction Period as determined by the
Committee at the Date of Grant, and may provide for the earlier lapse or other modification of such Restriction Period in the event of a Change in Control, retirement, or death or Disability of the Participant or other similar transaction or event
as approved by the Committee; provided that in no event will a Restriction Period lapse early solely as the result of a Change in Control. 

d. Any grant of Restricted Stock Units may specify Management Objectives that, if achieved, will result in termination or early termination of
the Restriction Period applicable to such shares. Each grant may specify in respect of such Management Objectives a minimum acceptable level of achievement and may set forth a formula for determining the number of Restricted Stock Units on which
restrictions will terminate if performance is at or above the minimum level, but falls short of full achievement of the specified Management Objectives. 

e. During the Restriction Period, the Participant shall have no right to transfer any rights under his or her award and shall have no rights of
ownership in the Restricted Stock Units and shall have no right to vote them, but the Committee may, at the Date of Grant, authorize the payment of dividend equivalents on such Restricted Stock Units on either a current or deferred or contingent
basis, either in cash or in additional Common Shares. 

  
 11 

 f. Each grant or sale of Restricted Stock Units shall be evidenced by an Evidence of Award, which
shall contain such terms and provisions, consistent with this Plan and applicable sections of the Code, as the Committee may approve. 

9. Awards to Non-Employee Directors. The Board may, from time to time and upon such terms and conditions as it may determine, authorize
the granting to Non-Employee Directors of Option Rights under Section 4 of this Plan or Appreciation Rights under Section 5 of this Plan, and may also authorize the grant or sale of Restricted Shares under Section 7 of this Plan,
Restricted Stock Units under Section 8 of this Plan or other awards under Section 10 of this Plan, or any combination of the foregoing. For clarity, the authority to grant awards to Non-Employee Directors pursuant to this Plan rests
exclusively with the Board (and, for the avoidance of doubt, not with the Committee), except to the extent expressly delegated by the Board to a committee or person(s) pursuant to Section 16. 

10. Other Awards.  

a. The Committee is authorized, subject to limitations under applicable law, to grant to any Participant such other awards that may be
denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Common Shares or factors that may influence the value of Common Shares, including, without limitation, convertible or exchangeable debt
securities, other rights convertible or exchangeable into Common Shares, purchase rights for Common Shares, awards with value and payment contingent upon performance of the Company or business units thereof or any other factors designated by the
Committee, and awards valued by reference to the book value of Common Shares or the value of securities of, or the performance of specified Subsidiaries or Affiliates or other business units of, the Company. The Committee shall determine the terms
and conditions of such awards. Common Shares delivered pursuant to an award in the nature of a purchase right granted under this Section 10 shall be purchased for such consideration, paid for at such times, by such methods, and in such forms,
including, without limitation, cash, Common Shares, other awards, notes or other property, as the Committee shall determine. 
 b. Cash
awards, as an element of or supplement to any other award granted under this Plan, may also be granted pursuant to this Section 10 of this Plan. 

c. The Committee is authorized to grant Common Shares as a bonus, or to grant Common Shares or other awards in lieu of obligations of the
Company or an Affiliate to pay cash or deliver other property under the Plan or under other plans or compensatory arrangements, subject to such terms as shall be determined by the Committee. 

11. Transferability.  

a. Except as otherwise determined by the Committee, no Option Right, Appreciation Right or other derivative security granted under the Plan
shall be transferable by a Participant other than by will or the laws of descent and distribution. Except as otherwise determined by the Committee, Option Rights and Appreciation Rights shall be exercisable during the Optionee’s lifetime only
by him or her or by his or her guardian or legal representative. 

  
 12 

 b. The Committee may specify at the Date of Grant that part or all of the Common Shares that are
(i) to be issued or transferred by the Company upon the exercise of Option Rights or Appreciation Rights, upon the termination of the Restriction Period applicable to Restricted Stock Units or upon payment under any grant of Performance Units
or Performance Shares or (ii) no longer subject to the substantial risk of forfeiture and restrictions on transfer referred to in Section 7 of this Plan, shall be subject to further restrictions on transfer. 

12. Adjustments. The Committee shall make or provide for such adjustments in the numbers of Common Shares covered by outstanding Option
Rights, Appreciation Rights, Performance Shares, Restricted Stock Units and share-based awards described in Section 10 of this Plan granted hereunder, in the Option Price and Base Price provided in outstanding Option Rights and Appreciation
Rights, and in the kind of shares covered thereby, as the Committee, in its discretion, exercised in good faith, may determine is equitably required to prevent dilution or enlargement of the rights of Participants or Optionees that otherwise would
result from (a) any stock dividend, stock split, combination of shares, recapitalization or other change in the capital structure of the Company, or (b) any merger, consolidation, spin-off, split-off, spin-out, split-up, reorganization,
partial or complete liquidation or other distribution of assets (including, without limitation, a special or large non-recurring dividend), issuance of rights or warrants to purchase securities, or (c) any other corporate transaction or event
having an effect similar to any of the foregoing. Moreover, in the event of any such transaction or event, the Committee, in its discretion, may provide in substitution for any or all outstanding awards under this Plan such alternative consideration
(including cash) as it, in good faith, may determine to be equitable in the circumstances and may require in connection therewith the surrender of all awards so replaced. The Committee may also make or provide for such adjustments in the numbers of
shares specified in Section 3 of this Plan as the Committee, in its discretion, exercised in good faith, may determine is appropriate to reflect any transaction or event described in this Section 12; provided, however, that any such
adjustment to the number specified in Section 3(c)(i) shall be made only if and to the extent that such adjustment would not cause any Option intended to qualify as an Incentive Stock Option to fail so to qualify. In no event shall any
adjustment be required under this Section 12 if the Committee determines that such action could cause an award to fail to satisfy the conditions of an applicable exception from the requirements of Section 409A of the Code or otherwise
could subject a Participant to the additional tax imposed under Section 409A in respect of an outstanding award. 
 13. Fractional
Shares. The Company shall not be required to issue any fractional Common Shares pursuant to this Plan. The Committee may provide for the elimination of fractions or for the settlement of fractions in cash. 

14. Withholding Taxes. The Company shall have the right to deduct from any payment or benefit realized under this Plan an amount equal
to the federal, state, local, foreign and other taxes which in the opinion of the Company are required to be withheld by it with respect to such payment or benefit. To the extent that the amounts available to the Company for such withholding are
insufficient, it shall be a condition to the receipt of such payment or the realization of such benefit that the Participant or other recipient make arrangements satisfactory to the Company for payment of the balance of such taxes required to be
withheld. At the discretion of the Committee, such arrangements may include relinquishment of a portion of such benefit pursuant to procedures adopted by the Committee from time to time. The Company and a Participant or such other recipient may also
make similar arrangements with respect to the payment of any taxes with respect to which withholding is not required. 

  
 13 

 15. Foreign Employees. In order to facilitate the making of any grant or combination of
grants under this Plan, the Committee may provide for such special terms for awards to Participants who are foreign nationals or who are employed by the Company or any Affiliate outside of the United States of America as the Committee may consider
necessary or appropriate to accommodate differences in local law, tax policy or custom. Moreover, the Committee may approve such supplements to or amendments, restatements or alternative versions of this Plan as it may consider necessary or
appropriate for such purposes, without thereby affecting the terms of this Plan as in effect for any other purpose, and the Corporate Secretary or other appropriate officer of the Company may certify any such document as having been approved and
adopted in the same manner as this Plan. No such special terms, supplements, amendments or restatements, however, shall include any provisions that are inconsistent with the terms of this Plan as then in effect unless this Plan could have been
amended to eliminate such inconsistency without further approval by the stockholders of the Company. 
 16. Administration of the
Plan.  
 a. The Committee shall administer this Plan or delegate its authority to do so as provided in Section 16(c) hereof
or, in the Board’s sole discretion or in the absence of the Committee, the Board shall administer this Plan; provided that the authority to grant awards to Non-Employee Directors pursuant to this Plan rests exclusively with the Board (and, for
the avoidance of doubt, not with the Committee), and each reference in this Plan to the Committee shall be deemed, when used in the context of any award(s) made or to be made to a Non-Employee Director, a reference to the Board. The Committee, or if
no Committee has been appointed, the Board, may delegate administration of the Plan to a committee or committees of one or more members of the Board, and the term “Committee” shall apply to any such committee, person(s) to whom such
authority has been delegated. The Committee shall have the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Committee shall thereafter be to the
committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish, suspend or supersede the Committee at any time and revest
in the Board the administration of the Plan. 
 b. Subject to the express provisions of the Plan, the Committee shall have plenary authority,
in its discretion, to determine the individuals to whom, and the time or times at which, awards shall be granted and the number of shares, if applicable, to be subject to each award. In making such determinations, the Committee may take into account
the nature of services rendered by the respective individuals, their present and potential contributions to the Company’s success and such other factors as the Committee deems relevant. Subject to the express provisions of the Plan, the
Committee shall also have plenary discretionary authority to interpret the Plan, to prescribe, amend and rescind rules and regulations relating to it, to determine the terms and provisions of the respective Evidence of Award (which need not be
identical) and to make all other determinations necessary or advisable for the administration of the Plan. The interpretation and construction by the Committee of any provision of this Plan or of any Evidence of Award and any determination by the
Board pursuant to any provision of this Plan or of any such Evidence of Award shall be final, conclusive and binding on the Company and the Participants, unless such decisions are determined by a court having jurisdiction to be arbitrary and
capricious. No member of the Board or the Committee shall be liable for any such action or determination made in good faith. 

  
 14 

 c. To the extent permitted by applicable law, the Committee may delegate to one or more of its
members or to one or more officers of the Company, or to one or more agents or advisors, such administrative duties or powers as it may deem advisable, and the Committee, or any person(s) or committee to whom duties or powers have been delegated as
aforesaid, may employ one or more persons to render advice with respect to any responsibility the Committee or such person or committee may have under the Plan. To the extent permitted by applicable law, the Committee may, by resolution, authorize
one or more officers of the Company to do one or both of the following on the same basis as the Committee: (i) designate employees to be recipients of awards under this Plan; (ii) determine the size of any such awards; provided, however,
that (A) the Committee shall not delegate such responsibilities to any such officer for awards granted to an employee who is an officer, Director, or more than 10% beneficial owner of any class of the Company’s equity securities that is
registered pursuant to Section 12 of the Exchange Act, as determined by the Committee in accordance with Section 16 of the Exchange Act; (B) the resolution providing for such authorization sets forth the total number of Common Shares
such officer(s) may grant; and (iii) the officer(s) shall report periodically to the Committee, as the case may be, regarding the nature and scope of the awards granted pursuant to the authority delegated. 

d. Any authority granted to the Committee may also be exercised by the Board or another committee of the Board duly appointed for such purpose,
except to the extent that the grant or exercise of such authority would cause any award intended to qualify for favorable treatment under Section 162(m) of the Code to cease to qualify for the favorable treatment under Section 162(m) of
the Code. To the extent that any permitted action taken by the Board conflicts with action taken by the Committee, the Board action shall control. Without limiting the generality of the foregoing, to the extent the Board has delegated any authority
under this Plan to another committee of the Board, such authority shall not be exercised by the Committee unless expressly permitted by the Board in connection with such delegation. 

e. The Board shall have discretion to determine whether or not it intends to comply with the exemption requirements of Rule 16b-3 and/or
Section 162(m) of the Code. Nothing herein shall create an inference that an award is not validly granted under the Plan in the event awards are granted under the Plan by a compensation committee of the Board that does not at all times consist
solely of two or more Non-Employee Directors who are also “outside directors” within the meaning of Section 162(m) of the Code. 

17. Amendments and Other Matters.  

a. The Board may at any time and from time to time amend the Plan in whole or in part; provided, however, that any amendment which must be
approved by the stockholders of the Company in order to comply with applicable law or the rules of the NASDAQ Global Stock Market shall not be effective unless and until such approval has been obtained. Presentation of this Plan or any amendment
thereof for stockholder approval shall not be construed to limit the Company’s authority to offer similar or dissimilar benefits under other plans or otherwise with or without stockholder approval. Without limiting the generality of the
foregoing, the Board may amend this Plan to eliminate provisions which are no longer necessary as a result in changes in tax or securities laws or regulations, or in the interpretation thereof. 

 

  
 15 

 b. Neither the Board nor the Committee shall, without the further approval of the stockholders of
the Company, authorize the amendment of any outstanding Option Right or Appreciation Right to reduce the Option Price or Base Price. Furthermore, no Option Right or Appreciation Right shall be cancelled and replaced with awards having a lower Option
Price or Base Price, respectively, without further approval of the stockholders of the Company. This Section 17(b) is intended to prohibit the repricing of “underwater” Option Rights and Appreciation Rights and shall not be construed
to prohibit the adjustments provided for in Section 12 of this Plan. 
 c. To the extent consistent with Section 409A of the Code,
the Committee also may permit Participants to elect to defer the issuance of Common Shares or the settlement of awards in cash under the Plan pursuant to such rules, procedures or programs as it may establish for purposes of this Plan. The Committee
also may provide that deferred issuances and settlements include the payment or crediting of dividend equivalents or interest on the deferral amounts. 

d. If permitted by Section 409A of the Code, in case of termination of employment by reason of death, Disability or normal or early
retirement, or in the case of hardship or other special circumstances, of a Participant who holds an Option Right or Appreciation Right not immediately exercisable in full, or any Restricted Shares as to which the substantial risk of forfeiture or
the prohibition or restriction on transfer has not lapsed, or any Restricted Stock Units as to which the Restriction Period has not been completed, or any Performance Shares or Performance Units which have not been fully earned, or any other awards
made pursuant to Section 10 subject to any vesting schedule or transfer restriction, or who holds Common Shares subject to any transfer restriction imposed pursuant to Section 11(b) of this Plan, the Committee may, at its discretion,
accelerate the time at which such Option Right, Appreciation Right or other award may be exercised or the time at which such substantial risk of forfeiture or prohibition or restriction on transfer will lapse or the time when such Restriction Period
will end or the time at which such Performance Shares or Performance Units will be deemed to have been fully earned or the time when such transfer restriction will terminate or may waive any other limitation or requirement under any such award. 

f. This Plan shall not confer upon any Participant any right with respect to continuance of employment or other service with the Company or any
Affiliate, nor shall it interfere in any way with any right the Company or any Affiliate would otherwise have to terminate such Participant’s employment or other service at any time. 

g. To the extent that any provision of this Plan would prevent any Option Right that was intended to qualify as an Incentive Stock Option from
qualifying as such, that provision shall be null and void with respect to such Option Right. Such provision, however, shall remain in effect for other Option Rights and there shall be no further effect on any provision of this Plan. 

h. Subject to Section 20, this Plan shall continue in effect until the date on which all Common Shares available for issuance or transfer
under this Plan have been issued or transferred and the Company has no further obligation hereunder. 
 i. Neither a Participant nor any
other person shall, by reason of participation in the Plan, acquire any right or title to any assets, funds or property of the Company or any Affiliate, including without limitation, any specific funds, assets or other property which the Company or
any Affiliate may set aside in anticipation of any liability under the Plan. A Participant shall have only a contractual right to an award or the amounts, if any, payable under the Plan, unsecured by any assets of the Company or any Affiliate, and
nothing contained in the Plan shall constitute a guarantee that the assets of the Company or any Affiliate shall be sufficient to pay any benefits to any person. 
  

  
 16 

 j. This Plan and each Evidence of Award shall be governed by the laws of the State of Maryland,
excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction. 

k. In the event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the
remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

18. Compliance with Section 409A of the Code. Awards granted under this Plan shall be designed and administered in such a manner
that they are either exempt from the application of, or comply with, the requirements of Section 409A of the Code. To the extent that the Committee determines that any award granted under the Plan is subject to Section 409A of the Code,
the Evidence of Award shall incorporate the terms and conditions necessary to avoid the imposition of an additional tax under Section 409A of the Code upon a Participant. Notwithstanding any other provision of the Plan or any Evidence of Award
(unless the Evidence of Award provides otherwise with specific reference to this Section), an award shall not be granted, deferred, accelerated, extended, paid out, settled, substituted or modified under this Plan in a manner that would result in
the imposition of an additional tax under Section 409A of the Code upon a Participant. Although the Company intends to administer the Plan so that awards will be exempt from, or will comply with, the requirements of Section 409A of the
Code, the Company does not warrant that any award under the Plan will qualify for favorable tax treatment under Section 409A of the Code or any other provision of federal, state, local, or non-United States law. Neither the Company, its
Affiliates, nor their respective directors, officers, employees or advisers shall be liable to any Participant (or any other individual claiming a benefit through the Participant) for any tax, interest, or penalties the Participant might owe as a
result of the grant, holding, vesting, exercise, or payment of any award under the Plan. Any reference in this Plan to Section 409A of the Code will also include the applicable proposed, temporary or final regulations, or any other guidance,
issued with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service. 
 19. Applicable Laws.
To the extent that federal laws do not otherwise control, this Plan and all determinations made and actions taken pursuant to this Plan shall be governed by the laws of Maryland, without giving effect to principles of conflicts of laws, and
construed accordingly. 
 20. Term and Termination. This Plan shall terminate 10 years after the date on which it is approved and
adopted by the Board and no award(s) shall be made hereunder after the expiration of such 10 year period. Awards outstanding at the termination of the Plan will continue in accordance with their terms and will not be affected by such termination.

  
 17

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