Document:

Debt Commitment Letter

 Exhibit 10.1 
  

					
	 JPMORGAN CHASE BANK, N.A.
 J.P. MORGAN SECURITIES INC.

                 270 Park Avenue
             New York, NY 10017
	  	 CREDIT SUISSE, CAYMAN
 ISLANDS BRANCH
 CREDIT SUISSE
 SECURITIES (USA) LLC
 Eleven Madison Avenue
 New York, NY 10010
	  	 GOLDMAN SACHS
 BANK USA
 GOLDMAN SACHS CREDIT PARTNERS L.P.
 85 Broad Street
 New York, NY 10004

 December 15, 2007 
 Ingersoll-Rand Company Limited 
 Ingersoll-Rand Company 
 155 Chestnut Ridge Road 
 Montvale, New Jersey 07645 
 Attention: Barbara L. Brasier 
 Vice President and Treasurer 
 Project Ski School 
 $3,900,000,000
Senior Unsecured Bridge Facility 
 Commitment Letter 
 Ladies and Gentlemen: 
 You have advised JPMorgan Chase Bank, N.A. (“JPMCB”), J.P. Morgan
Securities Inc. (“JPMorgan”), Credit Suisse, Cayman Islands Branch (“Credit Suisse”), Credit Suisse Securities (USA) LLC (“CSS”), Goldman Sachs Bank USA (“GSUSA”) and Goldman Sachs
Credit Partners L.P. (“GSCP” and, (i) in its capacity as a Lender, together with JPMCB Credit Suisse and GSUSA, the “Initial Lenders” and (ii) in its capacity as an arranger, together with JPMorgan and
CSS, the “Arrangers” (and the Arrangers, together with the Initial Lenders, the “Commitment Parties”)) that Ingersoll-Rand Company and Ingersoll-Rand Company Limited (“IR” and, together with
Ingersoll-Rand Company, “you”) intend to consummate the Transactions (such term and each other capitalized term used but not defined herein having the meanings assigned to them in the Term Sheet (as defined below)). 
 In connection with the Transactions, JPMCB, Credit Suisse, GSCP and GSUSA are pleased to advise you of their commitments to provide $1,300,000,000,
$1,300,000,000, $1,175,000,000 and $125,000,000, respectively, of the aggregate principal amount of the Facility, upon the terms and subject to the conditions set forth or referred to in this commitment letter (this “Commitment
Letter”) and in the Summary of Principal Terms and Conditions attached hereto as Exhibit A (the “Term Sheet”). Each of the Initial Lender’s commitments hereunder shall be several and not joint. If any Initial
Lender fails to fund its commitment hereunder (other than as a result of a failure of a condition precedent to be satisfied) (any such Initial Lender, a “Non-Funding Initial Lender”), you shall be entitled to engage one or more
replacement lenders (each, a “Replacement Lender”) to provide the commitments of such Non-Funding Initial Lender; provided that such Replacement Lenders, in the aggregate, provide the full amount of the commitments that were
to be provided by all such Non-Funding Initial Lenders. Each Replacement Lender (i) shall be engaged on terms no less favorable to you than 

 
those provided in this Commitment Letter, the Term Sheet and the Fee Letter, (ii) shall be reasonably acceptable to each Initial Lender that funds its
commitment hereunder (each such Initial Lender, a “Funding Initial Lender”) and (iii) may be afforded titles and roles in connection to the Transactions that are reasonably acceptable to each Funding Initial Lender. In no event
shall any Funding Initial Lender be obligated to fund a portion of the Facility in excess of its pro rata share of the commitments as of the date of this Commitment Letter. 
 You hereby appoint the Arrangers, and the Arrangers hereby agree to act, as joint lead arrangers and joint bookrunners for the Facility, upon the terms
and subject to the conditions set forth or referred to in this Commitment Letter and in the Term Sheet. You also hereby appoint JPMCB to act, and JPMCB hereby agrees to act, as sole and exclusive administrative agent for the Facility, upon the terms
and subject to the conditions set forth or referred to in this Commitment Letter and in the Term Sheet. Each of the Arrangers and JPMCB, in such capacities, will perform the duties and exercise the authority customarily performed and exercised by it
in such roles. It is understood and agreed that (a) no additional agents, co-agents, arrangers, co-arrangers, managers, co-managers, bookrunners or co-bookrunners will be appointed and no other titles will be awarded in connection with the
Facility without the approval of the Arrangers and the Initial Lenders and (b) no compensation (other than as expressly contemplated by the Term Sheet or the Fee Letter referred to below) will be paid in connection with the Facility unless you
and we so agree. 
 Each Initial Lender reserves the right, prior to or after the execution of definitive documentation for the Facility, to
syndicate all or a portion of its commitments hereunder to one or more financial institutions (subject to your consent (not to be unreasonably withheld)) that will become parties to such definitive documentation pursuant to syndications to be
managed by the Arrangers (the financial institutions becoming parties to such definitive documentation being collectively referred to as the “Lenders”); provided that (i) successful syndication of the commitments is not
a condition to the commitments and (ii) any assignment by any Commitment Party of all or any portion of its commitments hereunder will not release such Commitment Party from any of its obligations hereunder or such commitment (or portion
thereof) unless and until the assignee of such commitment has funded the commitment so assigned. The Arrangers may decide to commence syndication efforts promptly, and you agree actively to assist the Arrangers in completing timely and orderly
syndications satisfactory to the Arrangers. Such assistance shall include (a) your using commercially reasonable efforts to ensure that the syndication efforts benefit materially from your existing banking relationships, (b) direct contact
during the syndications between your senior management, representatives and advisors, on the one hand, and the proposed Lenders, on the other hand, (c) your assistance (including but not limited to the use of commercially reasonable efforts to
cause the Company and your respective affiliates and advisors to assist) in the preparation of Confidential Information Memoranda for the Facility and other marketing materials to be used in connection with the syndications (collectively, the
“Information Materials”), and (d) preparing and providing to the Commitment Parties all information with respect to (i) you and your respective subsidiaries, (ii) the Transactions and the other transactions
contemplated hereby, including a business plan in form and substance reasonably satisfactory to the Initial Lenders, and (iii) all other financial information and projections (the “Projections”), as the Commitment Parties may
reasonably request in connection with the syndication of the Facility. 
  

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 It is understood and agreed that the Arrangers will, after consultation with you, manage all aspects of
the syndications, including but not limited to selection of Lenders (subject to your consent (not to be unreasonably withheld)), determination of when the Arrangers will approach potential Lenders and the time of acceptance of the Lenders’
commitments, any naming rights and the final allocations of the commitments among the Lenders. It is also understood and agreed that the amount and distribution of fees among the Lenders will be at the Arrangers’ sole discretion. In acting as
the joint lead arrangers and joint bookrunners, the Arrangers will have no responsibility other than to arrange the syndications as set forth herein and shall in no event be subject to any fiduciary or other implied duties. 
 You represent and warrant that (a) all written information other than the Projections and information of a general economic or general industry
nature (the “Information”) that has been or will be made available to the Commitment Parties by or on behalf of you, your respective subsidiaries or any of your representatives, is or will be, when furnished, complete and correct in
all material respects and does not or will not, when furnished, taken as a whole, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not materially misleading
in light of the circumstances under which such statements are made and (b) the Projections that have been or will be made available to the Commitment Parties by or on behalf of you, your respective subsidiaries or any of your representatives or
affiliates, have been and will be prepared in good faith based upon assumptions believed by you to be reasonable at the time made, at the time the related Projections are made available to the Commitment Parties and on the Closing Date;
provided that, with respect to any Information or Projections relating to the Company, such representation and warranty is made to only your knowledge. You agree that if at any time from and including the date hereof until the closing of the
Facility, the representation and warranty in the immediately preceding sentence would not be satisfied if the Information and Projections were being furnished at such time, then you will promptly supplement the Information and the Projections so
that such representation and warranty would be true and correct under those circumstances. In arranging the Facility, including the syndication of the Facility, the Commitment Parties will be entitled to use and rely primarily on the Information and
the Projections without responsibility for independent verification thereof. 
 As consideration for the commitments and agreements of the
Commitment Parties hereunder, you agree to pay (or to cause to be paid) to the Initial Lenders the earned and payable fees as set forth in the Term Sheet and in the Fee Letter dated the date hereof and delivered herewith with respect to the Facility
(the “Fee Letter”). Once paid, except as expressly provided in the Fee Letter, such fees shall not be refundable under any circumstances. 
 The commitments hereunder and the Arrangers’ agreement to perform the services described herein are further subject to (a) since September 30, 2007, there not having occurred any change, effect, event,
occurrence, state of facts or development which individually or in the aggregate (i) has or would reasonably be expected to have a material adverse effect on the business, assets, financial condition, liabilities or results of operations of the
Company and its subsidiaries, taken as a whole; provided that none of the following shall be deemed, either alone or in combination, to constitute, and none of the following shall be taken into account in determining whether there has been or
will be a Material Adverse Effect: any change, effect, event, occurrence, state of facts or development (A) in the financial or securities markets or the 

  

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economy in general, (B) in the industries in which the Company or any of its subsidiaries operates in general, to the extent (in the case of (B)) that
such change, effect, event, occurrence, state of facts or development does not disproportionately impact the Company or any of its subsidiaries, (C) arising out of, resulting from or attributable to (1) changes in generally accepted
accounting principles or in accounting standards, (2) the execution, announcement or performance of the Acquisition Agreement or the consummation of the transactions contemplated thereby, including by reason of the identity of IR or any
communication by IR regarding the plans or intentions of IR with respect to the conduct of the business of the Company and including the impact thereof on relationships with customers, suppliers, distributors, partners or employees, or any
litigation arising relating to the Acquisition Agreement or the transactions contemplated thereby; provided, however, that this clause (2) shall not affect the representations set forth in Sections 3.01(e), 3.01(n)(x) and
3.01(n)(xi) of the Acquisition Agreement or the provision that such representations be true and correct in accordance with the terms of Section 6.02(a) thereof, (3) any action taken by the Company or its subsidiaries as contemplated or
permitted by the Acquisition Agreement or with IR’s consent, (4) any failure to meet any internal or public projections, forecasts or estimates of revenue or earnings (for the avoidance of doubt, the exception in this clause (4) shall
not prevent the underlying cause of any such failure to be taken into account in determining whether a Material Adverse Effect has occurred) or (5) any item or items set forth on Section 8.03(i) of the Company disclosure schedule attached
to the Acquisition Agreement or (ii) is or would reasonably be expect to impair in any material respect the ability of the Company to consummate the Acquisition and the other transactions contemplated by the Acquisition Agreement or to perform
its obligations under the Acquisition Agreement on a timely basis (a “Material Adverse Effect”), (b) the Initial Lenders’ reasonable satisfaction in all respects with the material terms of the Acquisition Agreement (and
you hereby confirm that there are no material agreements related to the Acquisition, except for the Acquisition Agreement, and the Initial Lenders hereby confirm their satisfaction with the execution copy of such Acquisition Agreement, including the
disclosure schedules thereto, delivered December 15, 2007, at 3:52 pm), (c) the Initial Lenders’ satisfaction that, prior to and during the syndications of the Facility prior to the Closing Date, there shall be no competing issues of
debt securities or commercial bank or other credit facilities of you, the Company or your or its respective subsidiaries being offered, placed or arranged (except for (1) issuance of commercial paper and (2) a refinancing of the Existing
Credit Agreement, upsized to $1,500,000,000, and issuances of debt securities other than commercial paper; provided that the proceeds of a refinancing of the Existing Credit Agreement in excess of $750,000,000 or the proceeds of issuances of
debt securities other than commercial paper shall be first used to finance the Acquisition and, to the extent so used, shall reduce the Initial Lenders’commitments hereunder) and (d) your compliance with the section of the Term Sheet
entitled “Conditions Precedent to Initial Borrowing”. 
 Notwithstanding anything in this Commitment Letter, the Fee Letter, the
Term Sheet or any other document concerning the financing of the Transactions to the contrary, except to the extent expressly set forth as a separate condition in this Commitment Letter or the section of the Term Sheet entitled “Conditions
Precedent to Initial Borrowing”, (a) the only representations relating to you and your respective subsidiaries and your and their businesses or to the Company and its subsidiaries and its and their businesses, the making of which shall be
a condition to availability of the Facility on the Closing Date, shall be (i) such of the representations made by you or the Company, as applicable, in the Acquisition Agreement, as 

  

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are material to the interests of the Lenders, but only to the extent any breach of such representations shall give you the right to terminate your
obligations, or the Company the right to terminate its obligations (if, in the case of the Company, such right has not been waived), under the Acquisition Agreement and (ii) the Specified Representations (as defined below) and (b) the
terms of the Loan Documents shall be in a form such that they do not impair availability of the Facility on the Closing Date if the conditions set forth in this Commitment Letter and in the section of the Term Sheet entitled “Conditions
Precedent to Initial Borrowing” are satisfied (such conditions being the only conditions to funding on the Closing Date). For purposes hereof, “Specified Representations” means the representations and warranties set forth in
the Term Sheet relating to corporate power and authority to execute, deliver and perform the loan documents; due execution and delivery of the loan documents; no violation of law with respect to execution, delivery and performance of the loan
documents; the enforceability of the loan documents; Federal Reserve margin regulations; the Investment Company Act; and the status of the loan documents as senior debt. Subject to clause (b) of the first sentence of this paragraph, those
matters that are not covered by or made clear under the provisions hereof and of the Term Sheet are subject to the approval and agreement of the Commitment Parties and you. This paragraph of the Commitment Letter is referred to herein and in the
Term Sheet as the “Specified Representations Paragraph.” 
 By executing this Commitment Letter, you agree (a) to
indemnify and hold harmless the Commitment Parties, their respective affiliates and each of their respective officers, directors, partners, employees, affiliates, agents and controlling persons (each, an “indemnified person”) from
and against any and all losses, claims, damages, liabilities and expenses, joint or several, to which any such indemnified person may become subject arising out of or in connection with this Commitment Letter, the Fee Letter, the Term Sheet, the
Transactions, the Facility or any related transaction or any claim, litigation, investigation or proceeding relating to any of the foregoing (any of the foregoing, a “Proceeding”), regardless of whether any such indemnified person
is a party thereto or whether a Proceeding is initiated by or on behalf of a third party or you or any of your affiliates, and to reimburse each such indemnified person upon demand for any reasonable legal or other expenses incurred in connection
with investigating or defending any of the foregoing, provided that the foregoing indemnity will not, as to any indemnified person, apply to losses, material breaches of contract, claims, damages, liabilities or related expenses to the extent
it is determined by a court of competent jurisdiction to have resulted from the bad faith, willful misconduct or gross negligence of such indemnified person, and (b) to reimburse the Commitment Parties upon request from time to time for all
reasonable out-of-pocket expenses (including but not limited to the expenses of the Commitment Parties’ due diligence investigation, syndication expenses, travel expenses and reasonable fees, disbursements and other charges of counsel) incurred
in connection with the Facility and the preparation of this Commitment Letter, the Term Sheet, the Fee Letter, the definitive documentation for the Facility. Notwithstanding any other provision of this Commitment Letter, no indemnified person shall
be liable for any damages directly or indirectly arising from the use by others of information or other materials obtained through electronic, telecommunications or other information transmission systems, other than damages arising from such
indemnified person’s bad faith, gross negligence or willful misconduct, or for any special, indirect, consequential or punitive damages in connection with its activities related to the Facility. 
  

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 You acknowledge that the Commitment Parties and their respective affiliates may be providing debt
financing, equity capital or other services (including but not limited to financial advisory services) to other companies in respect of which you may have conflicting interests regarding the transactions described herein and otherwise. None of the
Commitment Parties or any of their respective affiliates will use confidential information obtained from you by virtue of the transactions contemplated by this Commitment Letter or its other relationships with you in connection with the performance
by such party of services for other companies, and none of the Commitment Parties or any of their respective affiliates will furnish any such information to other companies. You also acknowledge that none of the Commitment Parties or any of their
respective affiliates has any obligation to use in connection with the transactions contemplated by this Commitment Letter, or to furnish to you or your respective subsidiaries or representatives, confidential information obtained by such party from
any other company or person. 
 You further acknowledge and agree that (a) no fiduciary, advisory or agency relationship between you, on
the one hand, and any of the Commitment Parties, on the other hand, is intended to be or has been created in respect of any of the transactions contemplated by this Commitment Letter, irrespective of whether any Commitment Party has advised or is
advising you on other matters, (b) each of the Commitment Parties, on the one hand, and you, on the other hand, have an arms-length business relationship that does not directly or indirectly give rise to, nor do you rely on, any fiduciary duty
on the part of any Commitment Party, other than as provided in the letters dated November 30, 2007, from each of CSS, JPMorgan and Goldman Sachs & Co. respectively to Ingersoll-Rand Company Limited in connection with their engagement
as financial advisors for the Acquisition, (c) you are capable of evaluating and understanding, and you understand and accept, the terms, risks and conditions of the transactions contemplated by this Commitment Letter, (d) you have been
advised that the Commitment Parties are engaged in a broad range of transactions that may involve interests that differ from your interests and that the Commitment Parties have no obligation to disclose such interests and transactions to you by
virtue of any fiduciary, advisory or agency relationship, and (e) you waive, to the fullest extent permitted by law, any claims against any Commitment Party for breach of fiduciary duty or alleged breach of fiduciary duty in respect of such
Commitment Party’s activities under this Commitment Letter (each, a “Fiduciary Claim”) that you may have and agree that no Commitment Party shall have any liability (whether direct or indirect) to you in respect of such a
Fiduciary Claim or to any person asserting such a Fiduciary Claim on behalf of or in right of you, including your stockholders, employees or creditors. 
 You further acknowledge that each Arranger is a full service securities firm engaged in securities trading and brokerage activities as well as providing investment banking and other financial services. In the ordinary
course of business, each Arranger may provide investment banking and other financial services to, and/or acquire, hold or sell, for its own accounts and the accounts of customers, equity, debt and other securities and financial instruments
(including bank loans and other obligations of, you and other companies with which you may have commercial or other relationships). With respect to any securities and/or financial instruments so held by any Arranger or any of its respective
customers, all rights in respect of such securities and financial instruments, including any voting rights, will be exercised by the holder of the rights, in its sole discretion. 
  

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 This Commitment Letter and the commitments hereunder shall not be assignable by you without the prior
written consent of the Commitment Parties, and any attempted assignment without such consent shall be void. This Commitment Letter may not be amended or any provision hereof waived or modified except by an instrument in writing signed by the
Commitment Parties and you. This Commitment Letter may be executed in any number of counterparts, each of which shall be deemed an original and all of which, when taken together, shall constitute one agreement. Delivery of an executed counterpart of
a signature page of this Commitment Letter by facsimile transmission shall be effective as delivery of a manually executed counterpart of this Commitment Letter. This Commitment Letter (including the exhibits hereto) and the Fee Letter are the only
agreements that have been entered into among us with respect to the Facility and set forth the entire understanding of the parties with respect thereto. This Commitment Letter (including the exhibits hereto) and the Fee Letter supersede all prior
understandings, whether written or oral, between us with respect to the Facility. This Commitment Letter is intended to be solely for the benefit of the parties hereto and is not intended to confer any benefits upon, or create any rights in favor
of, any person other than the parties hereto and the parties required to be indemnified hereunder. This Commitment Letter shall be governed by, and construed in accordance with, the laws of the State of New York. The Commitment Parties may perform
the duties and activities described hereunder through any of their respective affiliates and the provisions of the fourth preceding paragraph shall apply with equal force and effect to any of such affiliates so performing any such duties or
activities; provided that any assignment by any Commitment Party of all or any portion of its commitments hereunder to an affiliate will not release such Commitment Party from any of its obligations hereunder unless and until such affiliate
has funded the commitment so assigned. 
 You irrevocably and unconditionally submit to the nonexclusive jurisdiction of the United States
District Court for the Southern District of New York and of any New York State court sitting in the City of New York over any suit, action or proceeding arising out of, relating to, based upon or as a result of the Transactions, this Commitment
Letter, the Term Sheet or the Fee Letter or the performance of services hereunder or thereunder. You hereby agree that service of any process, summons, notice or document by registered mail addressed to you shall be effective service of process for
any suit, action or proceeding brought in any such court. You irrevocably and unconditionally waive any objection to the laying of venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or
proceeding has been brought in any inconvenient forum. You agree that a final, non-appealable judgment in any such suit, action or proceeding brought in any such court shall be conclusive and binding upon you and may be enforced in any other courts
to whose jurisdiction you are or may be subject, by suit upon judgment. You and the Commitment Parties irrevocably agree to waive trial by jury in any suit, action, proceeding, claim or counterclaim brought by or on behalf of any party arising out
of, relating to, based upon or as a result of the Transactions, this Commitment Letter, the Term Sheet or the Fee Letter or the performance of services hereunder or thereunder. 
 You agree that you will not disclose, directly or indirectly, this Commitment Letter, the Fee Letter, the Term Sheet or the contents hereof or thereof to
any person, except (a) to your officers, employees, attorneys, accountants and advisors, (b) solely with respect to the Commitment Letter and the Term Sheet (but not the Fee Letter), to the Company and its respective officers, directors,
employees, attorneys, advisors and accountants and (c) as required by applicable law or compulsory legal process, provided that, in the case of clauses (a) and (b), such disclosure shall be made on a confidential and need-to-know
basis. 
  

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 Each Commitment Party hereby notifies you that pursuant to the requirements of the U.S.A. PATRIOT ACT
(Title III of Pub. L. 107 56 (signed into law October 26, 2001)) (the “Patriot Act”), it and each of the Lenders may be required to obtain, verify and record information that identifies you and the Guarantors, which information
may include the name and address of you and the Guarantors and other information that will allow each Commitment Party and each of the Lenders to identify you and the Guarantors in accordance with the Patriot Act. This notice is given in accordance
with the requirements of the Patriot Act and is effective for each Commitment Party and each of the Lenders. 
 Please indicate your
acceptance of the terms hereof and of the Fee Letter by signing in the appropriate space below and in the Fee Letter and returning to the Initial Lenders enclosed duplicate originals (or facsimiles) of this Commitment Letter and the Fee Letter not
later than 5:00 p.m., New York City time, on December 17, 2007. The commitments hereunder will expire at such time in the event that the Initial Lenders have not received such executed duplicate originals (or facsimiles) in accordance
with the immediately preceding sentence. In the event that the execution of the credit agreement for the Facility does not occur on or before September 30, 2008, then this Commitment Letter and the commitments hereunder shall automatically
terminate unless the Commitment Parties shall, in their sole discretion, agree to an extension. The syndication, compensation, reimbursement, indemnification, jurisdiction, governing law, waiver of jury trial and confidentiality provisions contained
herein and in the Fee Letter shall remain in full force and effect regardless of whether definitive financing documentation shall be executed and delivered and notwithstanding the termination of this Commitment Letter or the commitments hereunder;
provided that the reimbursement and indemnification provisions shall be superseded by the definitive documentation, upon execution and delivery thereof. 
 [The remainder of this page intentionally left blank] 
  

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 We are pleased to have been given the opportunity to assist you in connection with this important
financing. 
  

			
	Very truly yours,
	
	JPMORGAN CHASE BANK, N.A.,
		
	By	 	 /s/ Anthony W. White

	Name:	 	Anthony W. White
	Title:	 	Vice President

  

			
	J.P. MORGAN SECURITIES INC.,
		
	By	 	 /s/ Thomas H. Kozlark

	Name:	 	Thomas H. Kozlark
	Title:	 	Executive Director

 Signature Page to the Commitment Letter 

			
	CREDIT SUISSE, CAYMAN ISLANDS BRANCH,
		
	By	 	 /s/ Karl Studer

	Name:	 	Karl Studer
	Title:	 	Director
		
	By	 	 /s/ Petra Jaek

	Name:	 	Petra Jaek
	Title:	 	Assistant Vice President

  

			
	CREDIT SUISSE SECURITIES (USA) LLC,
		
	By	 	 /s/ Christopher Cunningham

	Name:	 	Christopher Cunningham
	Title:	 	Managing Director

 Signature Page to the Commitment Letter 

			
	GOLDMAN SACHS CREDIT PARTNERS L.P.,
		
	By	 	 /s/ Brian Packard

	Name:	 	Brian Packard
	Title:	 	

  

			
	 GOLDMAN SACHS BANK USA,

		
	By	 	 /s/ William Yarbenet

	Name:	 	William Yarbenet
	Title:	 	Vice President

 Signature Page to the Commitment Letter 

 Accepted and agreed to as of the date first written above: 
  

			
	INGERSOLL-RAND COMPANY,
		
	By	 	 /s/ James V. Gelly

	Name:	 	James V. Gelly
	Title:	 	Senior Vice President
	
	INGERSOLL-RAND COMPANY LIMITED,
		
	By	 	 /s/ Herbert L. Henkel

	Name:	 	Herbert L. Henkel
	Title:	 	 Chairman, Chief Executive
 Officer and
President

 Signature Page to the Commitment Letter 

 EXHIBIT A 
 CONFIDENTIAL 
 December 15, 2007 
 Project Ski School 
 $3,900,000,000 Senior Unsecured Bridge Facility 
 Summary of Principal Terms and Conditions 
 Capitalized terms used but not defined in this Exhibit A have the meanings assigned to such terms in the Commitment Letter, dated the date hereof, to which this Exhibit A is attached. 
  

			
	 Borrowers:
	  	The borrowers under the Facility (as defined below) will be Ingersoll-Rand Company, a New Jersey corporation, and Ingersoll-Rand Company Limited, a Bermuda company (collectively, the
“Borrowers”).
		
	 Transactions:
	  	 Pursuant to an Agreement and Plan of Merger (together with all exhibits and schedules thereto, the “Acquisition Agreement”) to be
entered into among Ingersoll-Rand Company Limited (“IR”), Indian Merger Sub, Inc. (“Merger Sub”) and Trane Inc. (the “Company”), an acquisition will be consummated (the
“Acquisition”) in which (a) Merger Sub will be merged with and into the Company, with the Company as the surviving entity and (b) the existing stockholders of the Company will receive, for each share of outstanding Company
stock (together with the associated rights), aggregate consideration consisting of 0.23 common shares of IR (together with the associated number of rights) and $36.50 in cash (the “Merger Consideration”); provided that IR may
substitute up to $1.00 per share in additional cash consideration in lieu of a portion of, and appropriately reducing, the stock consideration in accordance with the terms of the Acquisition Agreement.
  
 In connection with the Acquisition, (a) the Borrowers will obtain the Facility, as defined
below under the caption “Facility”, on the date on which the Acquisition is consummated (the “Closing Date”) and (b) fees and expenses incurred in connection with the Transactions (as defined below) (the
“Transaction Costs”) will be paid. The transactions described in this paragraph, together with the Acquisition, are collectively referred to herein as the “Transactions”.

		
	Guarantees:	  	All obligations of the Borrowers under the Facility will be unconditionally guaranteed (the “Guarantees”) by (a) each other and (b) any other entities (any such entities,
together with the Borrowers, in their capacities as guarantors, the “Guarantors”) that guarantee (i) as of the Closing Date, IR’s outstanding notes

			
		  	and debentures or indebtedness under the Existing Credit Agreement (as defined below) or (ii) any other indebtedness the proceeds of which are required to be applied to repay the
Facility (as defined below).
		
	 Joint Lead Arrangers and
 Joint
Bookrunners:
	  	J.P. Morgan Securities Inc. (“JPMorgan”), Credit Suisse Securities (USA) LLC (“CSS”) and Goldman Sachs Credit Partners L.P. (“GSCP” and,
together with JPMorgan and CSS, the “Arrangers”) will act as joint lead arrangers and joint bookrunners for the Facility.
		
	Administrative Agent:	  	JPMorgan Chase Bank, N.A. (“JPMCB”) will act as sole and exclusive administrative agent for the Facility (in such capacity, the “Administrative Agent”) for a
syndicate of financial institutions (the “Lenders”).
		
	Syndication Agents:	  	GSCP and CSS (together with JPMCB, the “Agents”) will act as syndication agents for the Facility.
		
	Purpose:	  	The proceeds of the Loans under the Facility will be used by the Borrowers on the Closing Date (a) to pay the Transaction Costs and (b) to pay a portion of the cash portion of the
Merger Consideration.
		
	Facility:	  	A 364-day senior unsecured revolving bridge facility in an aggregate principal amount of up to $3,900,000,000 (the “Facility”).
		
	Final Maturity	  	The Facility will mature on the date (the “Maturity Date”) that is 364 days after the Closing Date.
		
	Availability:	  	Loans under the Facility will be available on and after the Closing Date at any time prior to the Maturity Date, in minimum principal amounts to be agreed upon. Any amounts repaid under the
Facility shall be accompanied by a corresponding pro rata reduction in the Lenders’ commitments under the Facility.
		
	Interest Rates:	  	At the applicable Borrower’s option, ABR or LIBOR loans (“Loans”) will be available as follows:
		
		  	 (A) ABR Option:
  
 Interest shall be at the Alternate Base Rate of JPMCB (the “ABR”), calculated on the basis of the actual number of days elapsed in a
year of 360 days (or 365 or 366 days, as applicable, in the case of ABR Loans based on the Prime Rate), payable quarterly in arrears. The ABR is defined as

  

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		  	 the higher of (i) the Federal Funds Effective Rate, as published by the Federal Reserve Bank of New York, plus  1/2 of 1% and (ii) the prime commercial lending rate of JPMCB, as announced from time to time at its head office. ABR drawings
shall be made available on a same-day basis if requested prior to 11:00 a.m. New York time and shall be in minimum amounts of $10,000,000 or any integral multiple of $1,000,000 in excess thereof.

		
		  	 (B) LIBOR Option:
  
 Interest shall be determined for periods (“Interest Periods”) of one, two, three, or six months (as selected by the applicable
Borrower) and, if agreeable to all the Lenders, nine or twelve months, and shall be at an annual rate equal to the London Interbank Offered Rate (“LIBOR”), as reflected on the applicable Reuters screen, for the corresponding
deposits of U.S. Dollars plus the Applicable Margin as set forth below. Interest will be paid at the end of each Interest Period or quarterly, whichever is earlier, and will be calculated on the basis of the actual number of days elapsed in a year
of 360 days. LIBOR will be adjusted for Regulation D reserve requirements and will at all times include statutory reserves. LIBOR drawings shall require three business days’ prior notice and shall be in minimum amounts of $10,000,000 or any
integral multiple of $1,000,000 in excess thereof.

		
	Applicable Margin:	  	As set forth on Annex I hereto.
		
	Facility Fee:	  	A facility fee determined in accordance with the attached Annex I shall accrue on the daily aggregate amount of the commitments under the Facility (as such may be reduced by payment or
prepayment) for each day from and including the closing date of the definitive credit agreement to but excluding the date such commitments are terminated. Such facility fee shall be payable (a) quarterly in arrears and (b) upon the later
of the date of the termination of such commitments in their entirety and the date the loans thereunder are repaid in their entirety.
		
	 Voluntary Facility
 Reductions
and
 Prepayments:
	  	Voluntary prepayments of Loans under the Facility and voluntary reductions of any unutilized portion of the Facility commitments will be permitted at any time, in whole or in part, with three
business days’ prior notice, but without premium or penalty (except for LIBOR breakage costs, if any), in minimum amounts of $10,000,000 and multiples of $1,000,000 in excess thereof.

  

 A-3 

			
	Mandatory Prepayments and Commitment Reductions:	  	Loans under the Facility shall be prepaid (a) with 100% of the net cash proceeds of issuances of debt obligations and equity securities of the Borrowers, subject to limited exceptions to
be agreed, (b) with 100% of the net cash proceeds of asset sales or other dispositions of the Borrowers outside the ordinary course of business (including, without limitation, insurance and condemnation proceeds), subject to exceptions to be
agreed and (c) in an amount not less than $500,000,000 within 30 business days of the Closing Date. Any prepayment made pursuant to this paragraph shall be accompanied by a corresponding pro rata reduction in the Lenders’ commitments under
the Facility.
		
	 Representations and
 Warranties:
	  	Substantially similar to those in the credit agreement, dated as of August 12, 2005, among the Borrowers; the banks listed therein; JPMCB, as administrative agent, JPMorgan and Citigroup
Global Markets Inc, as lead arrangers and bookrunners; Citicorp USA, Inc., as syndication agent; and Bank of America, N.A., Deutsche Bank Securities Inc., The Bank of Tokyo-Mitsubishi, Ltd., New York Branch and UBS Securities LLC, as documentation
agents (the “Existing Credit Agreement”).
		
	 Conditions Precedent to
 Initial Borrowing:

	  	 Subject to the Specified Representations Paragraph, the following: delivery of customary legal opinions; execution of the Guarantees, which shall
be in full force and effect; accuracy of representations and warranties in all material respects; payment of fees and expenses invoiced at least two business days prior to the initial borrowing; delivery of customary borrowing certificates; and
delivery of other customary documentation evidencing corporate existence, authority and incumbency.
  
 The Transactions shall have been consummated or shall be consummated simultaneously with the closing of the Facility in accordance with applicable law and the Acquisition Agreement (without giving effect to any
amendments or waivers to or of the Acquisition Agreement that are materially adverse to the Lenders and not approved by the Agents).

		
	 Conditions Precedent to All
 Other
Borrowings:
	  	Substantially similar to those in the Existing Credit Agreement.
		
	Affirmative and Negative Covenants:	  	Substantially similar to those in the Existing Credit Agreement.
		
	Events of Default:	  	Substantially similar to those in the Existing Credit Agreement.

  

 A-4 

			
	 Assignments and
 Participations:
	  	The Lenders shall be permitted to assign and sell participations in their Loans and commitments, subject, in the case of assignments (other than to an affiliate of the assigning Lender), to
the consent of the applicable Borrower (except during the existence of an event of default) and, in the case of all assignments, to the consent of the Administrative Agent (which consent of the Administrative Agent shall not be unreasonably
withheld). Participants shall have the same benefits as the Lenders with respect to yield protection and increased cost provisions, provided that no participant shall be entitled to receive any greater amount under such provisions than the
transferor Lender would have been entitled to receive in respect of the amount of the participation transferred to the participant if no transfer had occurred. Pledges of Loans to a Federal Reserve Bank shall be permitted without
restriction.
		
	Indemnification:	  	Usual and customary for facilities of this type.
		
	Voting:	  	Substantially similar to the voting provisions in the Existing Credit Agreement, with the required lenders defined as those Lenders having at least a majority of the Facility commitments or,
if applicable, holding at least a majority of the unpaid amount of the Loans under the Facility.
		
	Governing Law and Forum:	  	New York.
		
	 Counsel to Administrative
 Agent and the
Arrangers:
	  	Cravath, Swaine & Moore LLP.

  

 A-5 

 ANNEX I 
 Pricing Grid 
  

											
	 	  	Ratings	  	 	 	 	 	 
	 Level
	  	Moody’s	  	S&P	  	Facility Fee	 	 	Applicable Margin	 
	 I
	  	A3	  	A-	  	0.060	%	 	0.290	%
	 II
	  	Baa1	  	BBB+	  	0.070	%	 	0.530	%
	 III
	  	Baa2	  	BBB	  	0.090	%	 	0.610	%
	 IV
	  	Lower	  	Lower	  	0.125	%	 	0.775	%

 For purposes of the foregoing: (a) in the case of split ratings from Standard &
Poor’s Ratings Services (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”), the ratings to be used to determine the applicable Level shall be the higher of the two ratings, or if the ratings
differ by more than one Level as indicated above, the rating to be used to determine the applicable Level shall be the rating one above the lower of the two ratings, (b) if only one rating exists, you may have your debt rated by a substitute
nationally-recognized rating agency reasonably acceptable to the Administrative Agent; until the issuance of such rating, the applicable Level shall be the Level corresponding to the rating one lower than the available rating, (c) if no ratings
exist, the applicable Level shall be Level IV, and (d) if any rating shall be changed (other than as a result of a change in the rating system of the applicable rating agency), such change shall be effective as of the date on which it is first
announced by the rating agency making such change. Each such change in the applicable margin and fees shall apply to all outstanding Eurocurrency Loans and to Facility Fees accruing during the period commencing on the effective date of such change
and ending on the date immediately preceding the effective date of the next such change. If the rating system of any rating agency shall change, the parties hereto shall negotiate in good faith to amend the references to specific ratings in this
definition to reflect such changed rating system.AsiaInfo Holdings, Inc. 2008 Stock Incentive Plan

 Exhibit 10.1 
 ASIAINFO HOLDINGS, INC. 
 2008 STOCK INCENTIVE PLAN 
 As Amended Through April 10, 2008 
  

	 	1.	Purpose. 

 The purpose of the AsiaInfo
Holdings, Inc. 2008 Stock Incentive Plan (the “Plan”) is to enhance the long-term stockholder value of AsiaInfo Holdings, Inc., a Delaware corporation (the “Company”), by offering opportunities to
employees, directors, officers, consultants, agents, advisors and independent contractors of the Company and its Subsidiaries (as defined in Section 2) to participate in the Company’s growth and success, and to encourage them to remain in
the service of the Company and its Subsidiaries and to acquire and maintain stock ownership in the Company. 
  

	 	2.	Definitions. 

 For purposes of the Plan, the
following terms shall be defined as set forth below: 
 2.1 “Award” means an award or grant made
pursuant to the Plan, including, without limitation, awards or grants of Options and Stock Awards, or any combination of the foregoing. 
 2.2 “Board” means the Board of Directors of the Company. 
 2.3
“Cause” means dishonesty, fraud, misconduct, unauthorized use or disclosure of confidential information or trade secrets, or conviction or confession of a crime punishable by law (except minor violations), as provided under
applicable law, in each case as determined by the Plan Administrator, and its determination shall be conclusive and binding. 
 2.4 “Code” means the United States Internal Revenue Code of 1986, as amended from time to time. 
 2.5 “Common Stock” means the common stock, par value $.01 per share, of the Company. 
 2.6
“Corporate Transaction” means any of the following events: 
 (a) Consummation of any merger or
consolidation of the Company in which the Company is not the continuing or surviving corporation, or pursuant to which shares of the Common Stock are converted into cash, securities or other property (other than a merger of the Company in which the
holders of Common Stock immediately prior to the merger have the same proportionate ownership of capital stock of the surviving corporation immediately after the merger); 
 (b) Consummation of any sale, lease, exchange or other transfer in one transaction or a series of related transactions of all or
substantially all of the Company’s assets 

  

 1 

 
other than a transfer of the Company’s assets to a majority-owned subsidiary corporation (as the term “subsidiary corporation” is defined in
Section 8.3) of the Company; or 
 (c) Approval by the holders of the Common Stock of any plan or proposal for the
liquidation or dissolution of the Company. 
 2.7 “Disability” means “permanent and total
disability” as that term is defined for purposes of Section 22(e)(3) of the Code. 
 2.8 “Early
Retirement” means early retirement as that term is defined by the Plan Administrator from time to time for purposes of the Plan. 
 2.9 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended. 
 2.10 “Fair Market Value” shall be established in good faith by the Plan Administrator or (a) if the Common Stock is listed on the Nasdaq Global Market or the Nasdaq Capital Market, the
average of the high and low per share sales prices for the Common Stock as reported by the Nasdaq Global Market or the Nasdaq Capital Market (as the case may be) for a single trading day or (b) if the Common Stock is listed on the New York
Stock Exchange or the American Stock Exchange, the average of the high and low per share sales prices for the Common Stock as such price is officially quoted in the composite tape of transactions on such exchange for a single trading day. If there
is no such reported price for the Common Stock for the date in question, then such price on the last preceding date for which such price exists shall be determinative of the Fair Market Value. Notwithstanding anything in this Plan to the contrary,
to the extent applicable, the determination of the Fair Market Value of a share of Common Stock shall be determined in a manner which complies with Section 409A of the Code and the applicable Treasury Regulations promulgated thereunder.

 2.11 “Grant Date” means the date the Plan Administrator adopted the granting resolution and all
conditions precedent to the grant have been satisfied; provided that conditions to the exercisability or vesting of Awards shall not defer the Grant Date. If, however, the Plan Administrator designates in a resolution a later date as the date an
Award is to be granted, then such later date shall be the “Grant Date.” 
 2.12 “Incentive
Stock Option” means an Option to purchase Common Stock granted under Section 7 with the intention that it qualify as an “incentive stock option” as that term is defined in Section 422 of the Code. 
 2.13 “Nonqualified Stock Option” means an Option to purchase Common Stock granted under Section 7 other than
an Incentive Stock Option. 
 2.14 “Option” means the right to purchase Common Stock granted under
Section 7. 
 2.15 “Participant” means (a) the person to whom an Award is granted;
(b) for a Participant who has died, the personal representative of the Participant’s estate, the person(s) to whom the Participant’s rights under the Award have passed by will or by the applicable laws of descent and distribution, or
the beneficiary designated in accordance with Section 10; or (c) person(s) to whom an Award has been transferred in accordance with Section 10. 
  

 2 

 2.16 “Plan Administrator” means the Compensation Committee of the
Board or any successor committee of the Board designated to administer the Plan under Section 3.1. 
 2.17
“PRC” means the People’s Republic of China. 
 2.18 “Restricted Stock
Award” means shares of Common Stock or units denominated in Common Stock granted under Section 9, the rights of ownership of which may be subject to restrictions prescribed by the Plan Administrator. 
 2.19 “Retirement” means retirement on or after the individual’s normal retirement date under PRC law or the
law of such individual’s other jurisdiction of employment unless otherwise defined by the Plan Administrator from time to time for purposes of the Plan. 
 2.20 “Securities Act” means the Securities Act of 1933, as amended. 
 2.21 “Subsidiary”, except as provided in Section 8.3 in connection with Incentive Stock Options, means any
entity that is directly or indirectly controlled by the Company or in which the Company has a significant ownership interest, as determined by the Plan Administrator, and any entity that may become a direct or indirect subsidiary of the Company.

  

	 	3.	Administration. 

 3.1 Plan
Administrator. The Plan shall be administered by the Compensation Committee of the Board or a successor committee or committees (which term includes subcommittees) appointed by, and consisting of two or more members of, the Board. If and so long
as the Common Stock is registered under Section 12(b) or 12(g) of the Exchange Act, the Board shall consider in selecting the Plan Administrator and the membership of any committee acting as Plan Administrator, with respect to any persons
subject or likely to become subject to Section 16 of the Exchange Act, the provisions regarding (a) “outside directors” as contemplated by Section 162(m) of the Code and (b) “non employee directors” as
contemplated by Rule 16b-3 under the Exchange Act. The Plan Administrator may delegate the responsibility for administering the Plan with respect to designated classes of eligible persons to different committees consisting of one or more members of
the Board, subject to such limitations as the Board deems appropriate. Committee members shall serve for such term as the Board may determine, subject to removal by the Board at any time. To the extent consistent with applicable law, the Plan
Administrator may authorize one or more officers of the Company to grant Awards to designated classes of eligible persons, within the limits specifically prescribed by the Plan Administrator. 
 3.2 Administration and Interpretation by the Plan Administrator. Except for the terms and conditions explicitly set forth in the
Plan, the Plan Administrator shall have exclusive authority, in its discretion, to determine all matters relating to Awards under the Plan, including the selection of individuals to be granted Awards, the type of Awards, the number of shares of
Common Stock subject to an Award, all terms, conditions, restrictions and limitations, 

  

 3 

 
if any, of an Award and the terms of any instrument that evidences the Award. The Plan Administrator shall also have exclusive authority to interpret the
Plan and may from time to time adopt, and change, rules and regulations of general application for the Plan’s administration. The Plan Administrator’s interpretation of the Plan and its rules and regulations, and all actions taken and
determinations made by the Plan Administrator pursuant to the Plan, shall be conclusive and binding on all parties involved or affected. The Plan Administrator may delegate administrative duties to such of the Company’s officers as it so
determines. 
  

	 	4.	Stock Subject to the Plan. 

 4.1 Authorized Number of Shares. Subject to adjustment from time to time as provided in Section 11.1, the number of shares of Common Stock that shall be available for issuance under the Plan shall be: (a) 2,000,000 shares
plus (b) any authorized shares of Common Stock that, as of February 25, 2008, were available for issuance under the Company’s 2005 Stock Option Plan (the “Prior Plan”) (or that thereafter become available for
issuance under the Prior Plan in accordance with its terms). The maximum aggregate number of shares of Common Stock that may be issued under the Plan pursuant to the exercise of Incentive Stock Options shall be the number determined pursuant to the
preceding sentence, as adjusted from time to time pursuant to Section 11.1. Shares issued under the Plan shall be drawn from authorized and unissued shares or shares now held or subsequently acquired by the Company as treasury shares.

 4.2 Limitations. Subject to adjustment from time to time as provided in Section 11.1, not more than 100,000
shares of Common Stock may be made subject to Awards under the Plan to any individual in the aggregate in any one fiscal year of the Company, except that the Company may make additional one-time grants of up to 200,000 shares to newly hired or newly
promoted individuals, such limitation to be applied in a manner consistent with the requirements of, and only to the extent required for compliance with, the exclusion from the limitation on deductibility of compensation under Section 162(m) of
the Code. 
 4.3 Reuse of Shares. Any shares of Common Stock that have been made subject to an Award that cease to be
subject to the Award (other than by reason of exercise or payment of the Award to the extent it is exercised for or settled in shares), and/or shares of Common Stock subject to repurchase or forfeiture which are subsequently reacquired by the
Company, shall again be available for issuance in connection with future grants of Awards under the Plan; provided, however, that for purposes of Section 4.2, any such shares shall be counted in accordance with the requirements of
Section 162(m) of the Code. 
  

	 	5.	Eligibility. 

 Awards may be granted under
the Plan to those officers, directors and employees of the Company and its Subsidiaries as the Plan Administrator from time to time selects. Awards may also be granted to consultants, agents, advisors and independent contractors who provide services
to the Company and its Subsidiaries. 
  

 4 

	 	6.	Awards. 

 6.1 Form and
Grant of Awards. The Plan Administrator shall have the authority, in its sole discretion, to determine the type or types of Awards to be made under the Plan. Such Awards may include, but are not limited to, Incentive Stock Options, Nonqualified
Stock Options and Restricted Stock Awards. Awards may be granted singly or in combination. 
 6.2 Settlement of Awards.
The Company may settle Awards through the delivery of shares of Common Stock, cash payments, the granting of replacement Awards or any combination thereof as the Plan Administrator shall determine. Any Award settlement, including payment deferrals,
may be subject to such conditions, restrictions and contingencies as the Plan Administrator shall determine. The Plan Administrator may permit or require the deferral of any Award payment, subject to such rules and procedures as it may establish,
which may include provisions for the payment or crediting of interest, or dividend equivalents, including converting such credits into deferred stock equivalents. 
 6.3 Acquired Company Option Awards. Notwithstanding anything in the Plan to the contrary, the Plan Administrator may grant Awards
under the Plan in substitution for awards issued under other plans, or assume under the Plan awards issued under other plans, if the other plans are or were plans of other acquired entities (“Acquired Entities”) (or the
parent of an Acquired Entity) and the new Award is substituted, or the old award is assumed, by reason of a merger, consolidation, acquisition of property or of stock, reorganization or liquidation (the “Acquisition
Transaction”). In the event that a written agreement pursuant to which the Acquisition Transaction is completed is approved by the Board and said agreement sets forth the terms and conditions of the substitution for or assumption of
outstanding awards of the Acquired Entity, said terms and conditions shall be deemed to be the action of the Plan Administrator without any further action by the Plan Administrator, except as may be required for compliance with Rule 16b-3 under the
Exchange Act, and the persons holding such awards shall be deemed to be Participants. 
  

	 	7.	Terms and Conditions of Options. 

 7.1 Grant of Options. The Plan Administrator is authorized under the Plan, in its sole discretion, to issue Options as Incentive Stock Options or as Nonqualified Stock Options, which shall be appropriately designated. 
 7.2 Option Exercise Price. The exercise price for shares purchased under an Option shall be as determined by the Plan
Administrator, but shall not be less than 100% of the Fair Market Value of the Common Stock on the Grant Date with respect to Incentive Stock Options. 
 7.3 Term of Options. The term of each Option shall be as established by the Plan Administrator or, if not so established, shall be 10 years from the Grant Date. 
 7.4 Exercise and Vesting of Options. The Plan Administrator shall establish and set forth in each instrument that evidences an
Option the time at which, or the installments in which, the Option shall vest and become exercisable, which provisions may be waived or modified by the Plan Administrator at any time. 
  

 5 

 To the extent that an Option has become exercisable, the Option may be exercised from time to time by
written notice to the Company, in accordance with procedures established by the Plan Administrator, setting forth the number of shares with respect to which the Option is being exercised and accompanied by payment in full as described in
Section 7.5. The Plan Administrator may determine at any time that an Option may not be exercised as to less than any number of shares at any one time for vested shares and any number in its discretion for unvested shares (or the lesser number
of remaining shares covered by the Option). 
 7.5 Payment of Exercise Price. Except in the case that a cashless
exercise or same-day-sale is approved and implemented by the Plan Administrator, the exercise price for shares purchased under an Option shall be paid in full to the Company by delivery of consideration equal to the product of the Option exercise
price and the number of shares purchased. Such consideration must be paid in cash or by check or, unless the Plan Administrator in its sole discretion determines otherwise, either at the time the Option is granted or at any time before it is
exercised, a combination of cash and/or check (if any) and one or both of the following alternative forms: (a) tendering (either actually or, if and so long as the Common Stock is registered under Section 12(b) or 12(g) of the Exchange
Act, by attestation) Common Stock already owned by the Participant for at least six months (or any shorter period necessary to avoid a charge to the Company’s earnings for financial reporting purposes) having a Fair Market Value on the day
prior to the exercise date equal to the aggregate Option exercise price or (b) if and so long as the Common Stock is registered under Section 12(b) or 12(g) of the Exchange Act, delivery of a properly executed exercise notice, together
with irrevocable instructions, to (i) a brokerage firm designated by the Company to deliver promptly to the Company the aggregate amount of sale or loan proceeds to pay the Option exercise price and any withholding tax obligations that may
arise in connection with the exercise and (ii) the Company to deliver the certificates for such purchased shares directly to such brokerage firm, all in accordance with the regulations of the United States Federal Reserve Board. In addition,
the exercise price for shares purchased under an Option may be paid, either singly or in combination with one or more of the alternative forms of payment authorized by this Section 7.5, by (y) a promissory note delivered pursuant to
Section 13 or (z) such other consideration as the Plan Administrator may permit. 
 7.6 Post-Termination
Exercises. The Plan Administrator shall establish and set forth in each instrument that evidences an Option whether the Option will continue to be exercisable, and the terms and conditions of such exercise, if a Participant ceases to be employed
by, or to provide services to, the Company or its Subsidiaries, which provisions may be waived or modified by the Plan Administrator at any time. If not so established in the instrument evidencing the Option, the Option will be exercisable according
to the following terms and conditions, which may be waived or modified by the Plan Administrator at any time. 
 In case of termination of the
Participant’s employment or services other than by reason of death or Cause, the Option shall be exercisable, to the extent of the number of shares vested at the date of such termination, only (a) within one year if the termination of the
Participant’s employment or services is coincident with Retirement, Early Retirement at the Company’s request or Disability or (b) within three months after the date the Participant ceases to be an employee, director, officer,
consultant, agent, advisor or independent contractor of the Company or a Subsidiary if termination of the Participant’s employment or services is for any reason other than Retirement, Early Retirement at the Company’s request or
Disability, but in no 

  

 6 

 
event later than the remaining term of the Option. Any Option exercisable at the time of the Participant’s death may be exercised, to the extent of the
number of shares vested at the date of the Participant’s death, by the personal representative of the Participant’s estate, the person(s) to whom the Participant’s rights under the Option have passed by will or the applicable laws of
descent and distribution or the beneficiary designated pursuant to Section 10 at any time or from time to time within one year after the date of death, but in no event later than the remaining term of the Option. Any portion of an Option that
is not vested on the date of termination of the Participant’s employment or services shall terminate on such date, unless the Plan Administrator determines otherwise. In case of termination of the Participant’s employment or services for
Cause, the Option shall automatically terminate upon first notification to the Participant of such termination, unless the Plan Administrator determines otherwise. If a Participant’s employment or services with the Company are suspended pending
an investigation of whether the Participant shall be terminated for Cause, all the Participant’s rights under any Option likewise shall be suspended during the period of investigation. 
 With respect to employees, unless the Plan Administrator at any time determines otherwise, “termination of the Participant’s employment or
services” for purposes of the Plan (including without limitation this Section 7 and Section 14) shall mean any reduction in the Participant’s regular hours of employment to less than thirty (30) hours per week. A transfer of
employment or services between or among the Company and its Subsidiaries shall not be considered a termination of employment or services. The effect of a Company approved leave of absence on the terms and conditions of an Option shall be determined
by the Plan Administrator, in its sole discretion. 
 7.7 Prohibition on Option Repricing. An option issued under the
Plan may not be repriced by lowering the option exercise price or by cancellation of an outstanding option with a subsequent replacement or re-grant of an option with a lower exercise price. 
  

	 	8.	Incentive Stock Option Limitations. 

 To the
extent required by Section 422 of the Code, Incentive Stock Options shall be subject to the following additional terms and conditions: 
 8.1 Dollar Limitation. To the extent the aggregate Fair Market Value (determined as of the Grant Date) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time during any
calendar year (under the Plan and all other stock option plans of the Company) exceeds $100,000, such portion in excess of $100,000 shall be subject to delayed exercisability or treated as a Nonqualified Stock Option as set forth by the Plan
Administrator in the agreement(s) evidencing the Option. In the event the Participant holds two or more such Options that become exercisable for the first time in the same calendar year, such limitation shall be applied on the basis of the order in
which such Options are granted. 
 8.2 10% Stockholders. If an individual owns more than 10% of the total voting power
of all classes of the Company’s stock, then the exercise price per share of an Incentive Stock Option shall not be less than 110% of the Fair Market Value of the Common Stock on the Grant Date and the Option term shall not exceed five years.
The determination of 10% ownership shall be made in accordance with Section 422 of the Code. 
  

 7 

 8.3 Eligible Employees. Individuals who are not employees of the Company or one of
its parent corporations or subsidiary corporations may not be granted Incentive Stock Options. For purposes of this Section 8.3, “parent corporation” and “subsidiary corporation” shall have the meanings attributed to those
terms for purposes of Section 422 of the Code. 
 8.4 Term. The term of an Incentive Stock Option shall not exceed
10 years. 
 8.5 Exercisability. To qualify for Incentive Stock Option tax treatment, an Option designated as an
Incentive Stock Option must be exercised within three months after termination of employment for reasons other than death, except that, in the case of termination of employment due to Disability, such Option must be exercised within one year after
such termination. Disability shall be deemed to have occurred on the first day after the Company has furnished its opinion of Disability to the Plan Administrator. Employment shall not be deemed to continue beyond the first 90 days of a leave of
absence unless the Participant’s reemployment rights are guaranteed by statute or contract. 
 8.6 Taxation of
Incentive Stock Options. In order to obtain certain tax benefits afforded to Incentive Stock Options under Section 422 of the Code, the Participant must hold the shares issued upon the exercise of an Incentive Stock Option for two years
after the Grant Date of the Incentive Stock Option and one year from the date of exercise. A Participant may be subject to the alternative minimum tax at the time of exercise of an Incentive Stock Option. The Plan Administrator may require a
Participant to give the Company prompt notice of any disposition of shares acquired by the exercise of an Incentive Stock Option prior to the expiration of such holding periods. 
 8.7 Promissory Notes. The amount of any promissory note delivered pursuant to Section 13 in connection with an Incentive Stock
Option shall bear interest at a rate specified by the Plan Administrator but in no case less than the rate required to avoid imputation of interest (taking into account any exceptions to the imputed interest rules) for federal income tax purposes.

  

	 	9.	Restricted Stock Awards. 

 9.1 Grant of Stock Awards. The Plan Administrator is authorized to make Awards of Common Stock or Awards denominated in units of Common Stock on such terms and conditions and subject to such restrictions (which may be based on
continuous service with the Company or the achievement of performance goals related to profits or loss, revenue or profit growth or loss reduction, profit or loss related return ratios, other balance sheet or income statement targets or ratios,
market share, project completion, operational or productivity efficiency gains, cash flow, share price appreciation or total stockholder return, where such goals may be stated in absolute terms or relative to comparison companies), as the Plan
Administrator shall determine, in its sole discretion, which terms, conditions and restrictions shall be set forth in the instrument evidencing the Award. To the extent an Award subject to performance goals is intended to be exempt under
Section 162(m) of the Code, unless otherwise permitted in compliance with Section 162(m) of the Code, the Plan Administrator shall establish the performance goals (and any applicable performance award formula) applicable to the Award no
later than the earlier of (a) the date ninety (90) days after the commencement of the applicable 

  

 8 

 
performance period or (b) the date on which is twenty five percent (25%) of the performance period has elapsed, and, in any event, at a time when
the outcome of the performance goals remains substantially uncertain. The terms, conditions and restrictions that the Plan Administrator shall have the power to determine shall include, without limitation, the manner in which shares subject to
Restricted Stock Awards are held during the periods they are subject to restrictions and the circumstances under which forfeiture of the Restricted Stock Award shall occur by reason of termination of the Participant’s employment or service
relationship. 
 9.2 Issuance of Shares. Upon the satisfaction of any terms, conditions and restrictions prescribed in
respect to a Restricted Stock Award, or upon the Participant’s release from any terms, conditions and restrictions of a Restricted Stock Award, as determined by the Plan Administrator, the Company shall release, as soon as practicable, to the
Participant or, in the case of the Participant’s death, to the personal representative of the Participant’s estate or as the appropriate court directs, the appropriate number of shares of Common Stock. 
 9.3 Waiver of Restrictions. Notwithstanding any other provisions of the Plan, the Plan Administrator may, in its sole discretion,
waive the forfeiture period and any other terms, conditions or restrictions on any Restricted Stock Award under such circumstances and subject to such terms and conditions as the Plan Administrator shall deem appropriate; provided, however,
that the Plan Administrator may not adjust performance goals for any Restricted Stock Award intended to be exempt under Section 162(m) of the Code for the year in which the Restricted Stock Award is settled in such a manner as would increase
the amount otherwise payable to a Participant. 
  

	 	10.	Assignability. 

 No Awards granted under the
Plan or any interest therein may be assigned, pledged or transferred by the Participant other than by will or by the applicable laws of descent and distribution, and, during the Participant’s lifetime, such Award may be exercised only by the
Participant or a permitted assignee or transferee of the Participant (as provided below). Notwithstanding the foregoing, and to the extent permitted by Section 422 of the Code, the Plan Administrator, in its sole discretion, may permit such
assignment, transfer and exercisability and may permit a Participant to designate a beneficiary who may exercise the Award or receive payment under the Award after the Participant’s death; provided, however, that any Award so assigned or
transferred shall be subject to all the same terms and conditions contained in the instrument evidencing the Award. 
  

	 	11.	Adjustments. 

 11.1
Adjustment of Shares. In the event that, at any time or from time to time, a stock dividend, stock split, spin-off, combination or exchange of shares, recapitalization, merger, consolidation, distribution to stockholders other than a normal
cash dividend, or other change in the Company’s corporate or capital structure results in (a) the outstanding shares, or any securities exchanged therefor or received in their place, being exchanged for a different number or class of
securities of the Company or of any other corporation or (b) new, different or additional securities of the Company or of any other corporation being received by the holders of shares of Common Stock of the Company, then the Plan Administrator
shall make proportional 

  

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adjustments in (i) the maximum number and kind of securities subject to the Plan as set forth in Sections 4.1; (ii) the maximum number and kind of
securities that may be made subject to Awards to any individual as set forth in Section 4.2; and (iii) the number and kind of securities that are subject to any outstanding Award and the per share price of such securities, without any
change in the aggregate price to be paid therefor. The determination by the Plan Administrator as to the terms of any of the foregoing adjustments shall be conclusive and binding. 
  

	 	11.2	Corporate Transaction. 

 (a)
Options. Except as otherwise provided in the instrument that evidences the Option, in the event of a Corporate Transaction, the Plan Administrator shall determine whether provision will be made in connection with the Corporate
Transaction for an appropriate assumption of the Options theretofore granted under the Plan (which assumption may be effected by means of a payment to each Participant (by the Company or any other person or entity involved in the Corporate
Transaction), in exchange for the cancellation of the Options held by such Participant, of the difference between the then Fair Market Value of the aggregate number of shares of Common Stock then subject to such Options and the aggregate exercise
price that would have to be paid to acquire such shares) or for substitution of appropriate new options covering stock of a successor corporation to the Company or stock of an affiliate of such successor corporation. If the Plan Administrator
determines that such an assumption or substitution will be made, the Plan Administrator shall give notice of such determination to the Participants, and the provisions of such assumption or substitution, and any adjustments made (i) to the
number and kind of shares subject to the outstanding Options (or to the options in substitution therefor), (ii) to the exercise prices, and/or (iii) to the terms and conditions of the stock options, shall be binding on the Participants.
Any such determination shall be made in the sole discretion of the Plan Administrator and shall be final, conclusive and binding on all Participants. If the Plan Administrator, in its sole discretion, determines that no such assumption or
substitution will be made, the Plan Administrator shall give notice of such determination to the Participants, and each Option that is at the time outstanding shall automatically accelerate so that each such Option shall, immediately prior to the
specified effective date for the Corporate Transaction, become 100% vested and exercisable. All such Options shall terminate and cease to remain outstanding immediately following the consummation of the Corporate Transaction, except to the extent
assumed by the successor corporation or an affiliate thereof. 
 (b) Restricted Stock Awards. Except as
otherwise provided in the instrument that evidences the Award, in the event of a Corporate Transaction, the vesting of shares subject to Restricted Stock Awards shall accelerate, and the forfeiture provisions to which such shares are subject shall
lapse, if and to the same extent that the vesting of outstanding Options accelerates in connection with the Corporate Transaction. If unvested Options are to be assumed, continued or substituted by a successor corporation without acceleration upon
the occurrence of a Corporate Transaction, the forfeiture provisions to which such Restricted Stock Awards are subject will continue with respect to shares of the successor corporation that may be issued in exchange for such shares subject to
Restricted Stock Awards. 
 11.3 Further Adjustment of Awards. Subject to Section 11.2, the Plan Administrator
shall have the discretion, exercisable at any time before a sale, merger, consolidation, reorganization, liquidation or change in control of the Company, as defined by the 

  

 10 

 
Plan Administrator, to take such further action as it determines to be necessary or advisable, and fair and equitable to Participants, with respect to
Awards. Such authorized action may include (but shall not be limited to) establishing, amending or waiving the type, terms, conditions or duration of, or restrictions on, Awards so as to provide for earlier, later, extended or additional time for
exercise and other modifications, and the Plan Administrator may take such actions with respect to all Participants, to certain categories of Participants or only to individual Participants. The Plan Administrator may take such action before or
after granting Awards to which the action relates and before or after any public announcement with respect to such sale, merger, consolidation, reorganization, liquidation or change in control that is the reason for such action. 
 11.4 Limitations. The grant of Awards will in no way affect the Company’s right to adjust, reclassify, reorganize or otherwise
change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 
 11.5 Fractional Shares. In the event of any adjustment in the number of shares covered by any Award, each such Award shall cover only the number of full shares resulting from such adjustment. 
  

	 	12.	Withholding. 

 The Company may require the
Participant to pay to the Company the amount of any taxes or social insurance contributions that the Company is required to withhold with respect to the grant, vesting or exercise of any Award. Subject to the Plan and applicable law, the Plan
Administrator may, in its sole discretion, permit the Participant to satisfy withholding obligations, in whole or in part, (a) by paying cash, (b) by electing to have the Company withhold shares of Common Stock (up to the minimum required
federal withholding rate), or (c) by transferring shares of Common Stock to the Company (already owned by the Participant for the period necessary to avoid a charge to the Company’s earnings for financial reporting purposes), in such
amounts as are equivalent to the Fair Market Value of the withholding obligation. The Company shall have the right to withhold from any shares of Common Stock issuable pursuant to an Award or from any cash amounts otherwise due or to become due from
the Company to the Participant an amount equal to such taxes or social insurance contributions. The Company may also deduct from any Award any other amounts due from the Participant to the Company or a Subsidiary. 
  

	 	13.	Loans, Installment Payments and Loan Guarantees. 

 Subject to compliance with applicable law, to assist a Participant in acquiring shares of Common Stock pursuant to an Award granted under the Plan, the Plan Administrator, in its sole discretion,, may authorize, either at the Grant Date or
at any time before the acquisition of Common Stock pursuant to the Award, (a) the extension of a full-recourse loan to the Participant by the Company, (b) the payment by the Participant of the purchase price, if any, of the Common Stock in
installments, or (c) the guarantee by the Company of a full-recourse loan obtained by the Participant from a third party. Subject to the foregoing, the terms of any loans, installment payments or loan guarantees, including the interest rate and
terms of repayment, will be subject to the Plan Administrator’s discretion. The maximum credit available is the purchase price, if any, of the Common Stock acquired, plus the maximum federal and state income and employment tax liability that
may be incurred in connection with the acquisition. 
  

 11 

	 	14.	Repurchase Rights; Escrow. 

 14.1 Repurchase Rights. The Plan Administrator shall have the discretion to authorize the issuance of unvested shares of Common Stock pursuant to the exercise of an Option. In the event of termination of the Participant’s
employment or services, all shares of Common Stock issued upon exercise of an Option which are unvested at the time of cessation of employment or services shall be subject to repurchase at the exercise price paid for such shares. The terms and
conditions upon which such repurchase right shall be exercisable (including the period and procedure for exercise) shall be established by the Plan Administrator and set forth in the agreement evidencing such right. 
 All of the Company’s outstanding repurchase rights under this Section 14.1 are assignable by the Company at any time and shall
remain in full force and effect in the event of a Corporate Transaction; provided that if the vesting of Options is accelerated pursuant to Section 11.2, the repurchase rights under this Section 14.1 shall terminate and all shares subject
to such terminated rights shall immediately vest in full. 
 The Plan Administrator shall have the discretionary authority,
exercisable either before or after the Participant’s cessation of employment or services, to cancel the Company’s outstanding repurchase rights with respect to one or more shares purchased or purchasable by the Participant under an Option
and thereby accelerate the vesting of such shares in whole or in part at any time. 
 14.2 Escrow. To ensure that
shares of Common Stock acquired pursuant to an Award that are subject to any repurchase or forfeiture right and/or security for any promissory note will be available for repurchase or forfeiture, the Plan Administrator may require the Participant to
deposit the certificate or certificates evidencing such shares with an agent designated by the Plan Administrator under the terms and conditions of escrow and security agreements approved by the Plan Administrator. If the Plan Administrator does not
require such deposit as a condition of exercise of an Option or grant of a Stock Award, the Plan Administrator reserves the right at any time to require the Participant to so deposit the certificate or certificates in escrow. The Company shall bear
the expenses of the escrow. The Company, at its discretion, may in lieu of issuing a stock certificate for such shares, make a book entry credit in the Company’s stock ledger to evidence the issuance of such shares. As soon as practicable after
the expiration of any repurchase or forfeiture rights, and after full repayment of any promissory note secured by the shares in escrow, the agent shall deliver to the Participant the shares no longer subject to such restrictions and no longer
security for any promissory note. 
 In the event shares held in escrow are subject to the Company’s exercise of a
repurchase or forfeiture right, the notices required to be given to the Participant shall be given to the agent and any payment required to be given to the Participant shall be given to the agent. Within 30 days after payment by the Company, the
agent shall deliver the shares which the Company has purchased to the Company and shall deliver the payment received from the Company to the Participant. 
  

 12 

 In the event of any stock dividend, stock split or consolidation of shares or any like capital adjustment
of any of the outstanding securities of the Company, any and all new, substituted or additional securities or other property to which the Participant is entitled by reason of ownership of shares acquired upon exercise of an Option or grant of a
Stock Award shall be subject to any repurchase or forfeiture rights, and/or security for any promissory note with the same force and effect as the shares subject to such repurchase or forfeiture rights and/or security interest immediately before
such event. 
  

	 	15.	Amendment and Termination of Plan. 

 15.1 Amendment of Plan. The Plan may be amended only by the Board in such respects as it shall deem advisable; however, to the extent required for compliance with Section 422 of the Code or any applicable law or regulation,
stockholder approval will be required for any amendment that will (a) increase the total number of shares available for issuance under the Plan, (b) modify the class of persons eligible to receive Options, or (c) otherwise require
stockholder approval under any applicable law or regulation. 
 15.2 Termination of Plan. The Board may suspend or
terminate the Plan at any time. The Plan will have no fixed expiration date; provided, however, that no Incentive Stock Options may be granted more than 10 years after the later of (a) the Plan’s adoption by the Board and
(b) the adoption by the Board of any amendment to the Plan that constitutes the adoption of a new plan for purposes of Section 422 of the Code. 
 15.3 Consent of Participant. The amendment or termination of the Plan shall not, without the consent of the Participant, impair or diminish any rights or obligations under any Award theretofore granted under
the Plan. 
 Any change or adjustment to an outstanding Incentive Stock Option shall not, without the consent of the Participant, be made in
a manner so as to constitute a “modification” that would cause such Incentive Stock Option to fail to continue to qualify as an Incentive Stock Option. 
  

	 	16.	General. 

 16.1 Evidence
of Awards. Awards granted under the Plan shall be evidenced by a written agreement that shall contain such terms, conditions, limitations and restrictions as the Plan Administrator shall deem advisable and that are not inconsistent with the
Plan. 
 16.2 Continued Employment or Services; Rights in Awards. None of the Plan, participation in the Plan or any
action of the Plan Administrator taken under the Plan shall be construed as giving any person any right to be retained in the employ of the Company or limit the Company’s right to terminate the employment or services of any person. 

16.3 Registration. The Company shall be under no obligation to any Participant to register for offering or resale or to qualify
for exemption under the Securities Act, or to register or qualify under state securities laws, any shares of Common Stock, security or interest in a security paid or issued under, or created by, the Plan, or to continue in effect any such
registrations or qualifications if made. 
  

 13 

 The Company may issue certificates for shares with such legends and subject to such restrictions on
transfer and stop-transfer instructions as counsel for the Company deems necessary or desirable for compliance by the Company with federal and state securities laws. 
 Inability of the Company to obtain, from any regulatory body having jurisdiction, the authority deemed by the Company’s counsel to be necessary for the lawful issuance and sale of any shares hereunder or the
unavailability of an exemption from registration for the issuance and sale of any shares hereunder shall relieve the Company of any liability in respect of the nonissuance or sale of such shares as to which such requisite authority shall not have
been obtained. 
 As a condition to the exercise of an Award, the Company may require the Participant to represent and warrant at the time of
any such exercise or receipt that such shares are being purchased or received only for the Participant’s own account and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a
representation is required by any relevant provision of the aforementioned laws. At the option of the Company, a stop-transfer order against any such shares may be placed on the official stock books and records of the Company, and a legend
indicating that such shares may not be pledged, sold or otherwise transferred, unless an opinion of counsel is provided (concurred in by counsel for the Company) stating that such transfer is not in violation of any applicable law or regulation, may
be stamped on stock certificates to ensure exemption from registration. The Plan Administrator may also require such other action or agreement by the Participant as may from time to time be necessary to comply with the federal and state securities
laws. 
 16.4 No Rights As A Stockholder. No Option or Stock Award denominated in units shall entitle the Participant
to any dividend, voting or other right of a stockholder unless and until the date of issuance under the Plan of the shares that are the subject of such Award, free of all applicable restrictions. 
 16.5 Compliance With Laws And Regulations. No Shares of Common Stock shall be issued pursuant to an Award unless such issuance
complies with all applicable laws and regulations. Notwithstanding anything in the Plan to the contrary, the Board, in its sole discretion, may bifurcate the Plan so as to restrict, limit or condition the use of any provision of the Plan to
Participants who are officers or directors subject to Section 16 of the Exchange Act without so restricting, limiting or conditioning the Plan with respect to other Participants. 
 Additionally, in interpreting and applying the provisions of the Plan, any Option granted as an Incentive Stock Option pursuant to the Plan shall, to the
extent permitted by law, be construed as an “incentive stock option” within the meaning of Section 422 of the Code. 
 16.6 No Trust Or Fund. The Plan is intended to constitute an “unfunded” plan. Nothing contained herein shall require the Company to segregate any monies or other property, or shares of Common Stock, or to create any trusts,
or to make any special deposits for any immediate or deferred amounts payable to any Participant, and no Participant shall have any rights that are greater than those of a general unsecured creditor of the Company. 
  

 14 

 16.7 Severability. If any provision of the Plan or any Option is determined to be
invalid, illegal or unenforceable in any jurisdiction, or as to any person, or would disqualify the Plan or any Option under any law deemed applicable by the Plan Administrator, such provision shall be construed or deemed amended to conform to
applicable laws, or, if it cannot be so construed or deemed amended without, in the Plan Administrator’s determination, materially altering the intent of the Plan or the Option, such provision shall be stricken as to such jurisdiction, person
or Option, and the remainder of the Plan and any such Option shall remain in full force and effect. 
 16.8 Participants In
Foreign Countries. The Plan Administrator shall have the authority to adopt such modifications, procedures and subplans as may be necessary or desirable, after consideration of the provisions of the laws of the PRC or other foreign countries in
which the Company or its Subsidiaries may operate, to ensure the viability of the benefits from Awards granted to Participants employed in such countries and to meet the objectives of the Plan. 
 16.9 Choice Of Law. The Plan and all determinations made and actions taken pursuant hereto, to the extent not otherwise governed by
the federal laws of the United States, shall be governed by the laws of the State of Delaware without giving effect to principles of conflicts of laws. 
  

	 	17.	Effective Date. 

 The Plan’s effective
date is the date on which it is adopted by the Board, so long as it is approved by the Company’s stockholders at any time within 12 months of such adoption. 
  

 15

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