Document:

Restricted Stock Award Agreement - Karl Robb

 Exhibit 10.14 
 EPAM SYSTEMS, INC. 

RESTRICTED STOCK AWARD 

THIS RESTRICTED STOCK AWARD (this
“Award”) is made as of the 16th day of January, 2012 (the “Grant Date”), by and between EPAM SYSTEMS, INC., a Delaware corporation (the “Company”), and Karl Robb
(the “Grantee”). 
 EXPLANATORY STATEMENT 

In recognition of the Grantee’s continued service to the Company and to give the Grantee an additional incentive to further the
Company’s growth and success, the Board of Directors of the Company has determined to grant to the Grantee shares of the Company’s Common Stock, par value $.001 per share, subject to the restrictions and conditions set forth in this Award.

 NOW, THEREFORE, in consideration of the mutual promises set forth below,
and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, and to evidence the grant of and to set forth the terms and conditions governing the grant and ownership of the Award Shares, and the
parties’ other agreements related thereto, the Grantee and the Company agree as follows: 
 AGREEMENT

 Section 1. Grant. The Company hereby grants to the Grantee and the Grantee hereby accepts from the
Company 24,350 shares of its Common Stock (the “Award Shares”), subject to the terms and conditions of this Award. 
 Section 2. Defined Terms. This Award uses a number of terms that are defined either in Section 10 or elsewhere in the body of this Award. These defined terms are capitalized
wherever they are used. 
 Section 3. Vesting; Restrictions on Transfer. 

3.1. Vesting of Shares. 

3.1.1. Vested Percentage. From and after each date set forth below, the Grantee’s total number of
Vested Shares shall be equal to the applicable Vested Percentage times the total number of Award Shares, rounded down to the nearest whole number; provided that on such date the Nonvested Shares have not been forfeited pursuant to
Section 3.2. 

					
	 Date
	  	Vested
Percentage	 
	 On the Grant Date
	  	 	25	% 
	 January 1, 2013
	  	 	50	% 
	 January 1, 2014
	  	 	75	% 
	 January 1, 2015
	  	 	100	% 

 3.1.2. Adjustment of Shares. In the event of any change in the outstanding
Common Stock resulting from a subdivision or consolidation of shares, whether through reorganization, recapitalization, share split, reverse share split, share distribution, or combination of shares or the payment of a share dividend, the Award
Shares, whether Vested Shares or Nonvested Shares, shall be treated in the same manner in any such transaction as other outstanding shares of Common Stock. Any shares of Common Stock or other securities received by the Grantee with respect to any
Nonvested Shares in any such transaction shall be subject to the same restrictions and conditions as the Nonvested Shares with respect to which such Common Stock or other securities were received and, in the case of shares of Common Stock, such
shares shall constitute Nonvested Shares for purposes of this Award. 
 3.2. Forfeiture of Nonvested
Shares. If and at such time as the services of Grantee terminate (a) With Cause, or (b) other than for Good Reason, any and all Nonvested Shares shall be immediately forfeited and returned to the Company without compensation to the
Grantee, and this Award shall terminate and be of no further force and effect (other than the restrictions contained in Section 7, which shall remain in full force and effect in accordance with their terms). 

3.3. Restrictions on Transfer. The Grantee may not Transfer any Nonvested Shares. Any purported Transfer in
violation of these restrictions will be ineffective. Grantee shall only have the right to Transfer the Vested Shares in accordance with the terms of that certain Shareholders Agreement of the Company, as amended from time to time, dated as of the
date hereof to which Grantee is a party. 
 Section 4. Rights as Stockholder. The Grantee shall be entitled
to all of the rights of a stockholder with respect to Award Shares (except Award Shares that have been forfeited), including the right to vote such shares and to receive dividends and other distributions payable with respect to such shares after the
Grant Date, except for the restrictions set forth in this Award. 
 Section 5. Certificates. 

5.1. Escrow of Certificates. Certificates for Nonvested Shares will be issued in the Grantee’s name and
will be held in escrow by the Company until such Nonvested Shares become Vested Shares as provided in Section 3 of this Award. 

  
 2 

 5.2. Delivery of Certificates. A certificate or certificates
representing the Award Shares that have become Vested Shares shall be delivered to the Grantee promptly after such Award Shares become Vested Shares, unless the Company undertakes uncertificated shares. Notwithstanding anything contained herein to
the contrary, the Company’s obligation to issue or deliver certificates evidencing the Award Shares shall be subject to all applicable laws, rules, and regulations and to such restrictions, conditions, or approvals by any governmental agencies
or national securities exchanges as may be required. 
 5.3. Restrictive Legends. To the extent
applicable, each certificate representing Award Shares will be stamped with the following legends: 
 THE VESTING, FORFEITURE,
SALE OR TRANSFER OF THE SHARES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE RESTRICTED STOCK AWARD BETWEEN THE ISSUER AND THE SHAREHOLDER DATED AS OF JANUARY 16, 2012. A COPY OF THIS AGREEMENT IS ON FILE IN THE PRINCIPAL OFFICE OF THE ISSUER
AND WILL BE FURNISHED, UPON REQUEST AND WITHOUT CHARGE, TO ANY PERSON HAVING A VALID INTEREST THEREIN. 
 THE RIGHT TO SELL,
TRANSFER OR OTHERWISE DISPOSE OF OR PLEDGE THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO CERTAIN RESTRICTIONS, WHICH INCLUDE CO-SALE RESTRICTIONS ON THE SALE OF THE SECURITIES, SET FORTH IN A SHAREHOLDERS AGREEMENT. A COPY OF SUCH
AGREEMENT IS ON FILE AT THE ISSUER’S PRINCIPAL PLACE OF BUSINESS. 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE
SUBJECT TO CERTAIN VOTING AGREEMENTS AS SET FORTH IN A SHAREHOLDERS AGREEMENT. A COPY OF SUCH AGREEMENT IS ON FILE AT THE ISSUER’S PRINCIPAL PLACE OF BUSINESS. 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED,
PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR UNLESS THE ISSUER HAS RECEIVED AN OPINION OF LEGAL COUNSEL SATISFACTORY TO THE ISSUER AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. 

  
 3 

 THE SALE, PLEDGE, HYPOTHECATION OR OTHER TRANSFER OF THE SECURITIES REPRESENTED BY THIS
CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN REGISTRATION RIGHTS AGREEMENT BY AND BETWEEN THE STOCKHOLDER AND THE ISSUER OF SUCH SECURITIES, INCLUDING A LOCK-UP PERIOD OF UP TO 180 DAYS FOLLOWING THE EFFECTIVE DATE OF A
REGISTRATION STATEMENT OF THE ISSUER FILED UNDER THE ACT. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE ISSUER. SUCH TRANSFER RESTRICTIONS ARE BINDING ON TRANSFEREES OF SUCH SECURITIES. 

THE ISSUER WILL FURNISH WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS THE POWERS, DESIGNATIONS PREFERENCES AND RELATIVE,
PARTICIPATING, OPTIONAL, OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OR SERIES THEREOF AUTHORIZED TO BE ISSUED BY THE ISSUER AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS. ANY SUCH REQUEST MAY BE MADE TO
THE SECRETARY OF THE ISSUER. 
 Section 6. Withholding and Taxes. The Company shall have the right to require
the Grantee to remit to the Company, or to withhold from other amounts payable to the Grantee, as compensation or otherwise, an amount sufficient to satisfy any and all federal, state, and local withholding tax requirements when such amounts become
due, if applicable. 
 6.1. Notice to Grantee. The Company shall endeavor to give written notice to
the Grantee no later than ten (10) days before the date by which the Company must collect or withhold any taxes relating to this Award of the date any such taxes must be received by the Company and an estimate of the amount of such taxes.

  
 4 

 6.2. “Fair Market Value.” The “fair market
value” of the Award Shares on any given day means: the last reported sale price of the Shares or other securities on any national or foreign securities exchange or quotation system providing such information on the day before the date of the
determination; or, if not listed on any such exchange or quotation system, the average of the bid and asked prices of the Shares or other securities as reported by the National Association of Securities Dealers as of the day before the date of the
determination of the fair market value; or, if not so reported, the fair market value of the Shares or other securities as of the day before the date of such determination as determined in good faith by the Board. 

Section 7. Non-competition, Non-Solicitation and Inventions. As used in this Section, the “Company” includes
the Company and its affiliates. The respective rights and obligations of the respective parties shall survive any termination or expiration of this Agreement to the extent necessary for the intended preservation of such rights and obligations.

 7.1. Non-competition and Non-Solicitation. Grantee expressly covenants and agrees that during
the period Grantee is engaged by the Company and for one year following the end of Grantee’s engagement with the Company (the “Prohibited Period”), Grantee will refrain from carrying on or engaging in, directly or indirectly, any
Competing Business in the Restricted Area and Grantee will not, and Grantee will cause Grantee’s affiliates not to, directly or indirectly, own, manage, operate, join, become an employee of, partner in, owner or member of (or an independent
contractor to), control or participate in, be connected with or loan money to, sell or lease equipment or property to, or otherwise be affiliated with any business, individual, partnership, firm, corporation or other entity which engages in a
Competing Business in the Restricted Area. “Competing Business” means any business, individual, partnership, firm, corporation or other entity which wholly or in any significant part engages in any business competing with the Business in
the Restricted Area; “Restricted Area” means Europe, North America and the Commonwealth of Independent States; and “Business” means the provision of software engineering and software development services, as such business may be
expanded or altered by the Company during the period of Grantee’s engagement by the Company; provided, that any business or endeavor shall cease to be the “Business” if the Company is not or ceases to be engaged in such business or
endeavor. 
 Grantee further expressly covenants and agrees that during the Prohibited Period, Grantee shall not, directly or
indirectly, encourage, solicit or induce any (i) individual who is then or has been within six (6) months prior thereto employed by or providing consulting services to, the Company to terminate such employment or services; provided, that
the foregoing shall not be violated by general advertising not targeted at employees or consultants of the Company; (ii) Customer, supplier, licensee or other business relation of the Company to cease doing business with or materially reduce
the amount of business conducted with the Company, or (iii) in any way interfere with the relationship between any such customer, supplier, licensee or business relation 

  
 5 

 
and the Company; or assist any other party in the activities described in (i) or (ii). “Customer” means any and all persons, partnerships, associations, firms, corporations or
other entities that (a) have purchased any of the Company’s products or services within one year prior to the date of termination of the Grantee’s engagement with the Company and (b) with whom the Grantee dealt directly.

 7.2. Nondisclosure of Confidential and Proprietary Information. (a) Except in connection
with the faithful performance of Grantee’s duties for the Company or pursuant to Section 7.2(c), Grantee shall, in perpetuity, maintain in confidence and shall not directly, indirectly or otherwise, (i) use, disseminate, disclose or
publish, whether for his benefit or the benefit of any person, firm, corporation or other entity, any Confidential Information or (ii) deliver to any person, firm, corporation or other entity any document, record, notebook, computer program or
similar repository of or containing any Confidential Information. “Confidential Information” means (A) confidential or proprietary information or trade secrets of or relating to the Company (including, without limitation, intellectual
property in the form of patents, trademarks and copyrights and applications thereof, ideas, inventions, works, discoveries, improvements, information, documents, formulae, practices, processes, methods, developments, source code, modifications,
technology, techniques, data, programs, other know-how or materials, in each case, that are confidential and/or proprietary and owned, developed or possessed by the Company, whether in tangible or intangible form) or (B) confidential or
proprietary information with respect to the Company’s operations, processes, products, inventions, business practices, strategies, business plans, finances, principals, vendors, suppliers, customers, potential customers, marketing methods,
costs, prices, contractual relationships, regulatory status, prospects and compensation paid to employees or other terms of employment. 
 (b) Upon the termination of Grantee’s engagement with the Company for any reason, Grantee will promptly deliver to the Company all files, customer lists, price lists, bids, specifications, forms,
software, correspondence, drawings, manuals, letters, notes, notebooks, reports, programs, plans, proposals, financial documents and electronically stored information, in each case, that contain any Confidential Information. 

(c) Nothing in this Agreement shall prohibit Grantee from (i) disclosing information and documents when required by
law, subpoena, court order or legal process; provided Grantee shall provide the Company with prompt written notice of such requirement prior to compliance therewith so that the Company may seek a protective order or other appropriate remedy or
(ii) disclosing information and documents to his immediate family members or, for the purpose of securing legal or tax advice, attorney or tax adviser (provided that the persons to whom such disclosures are made shall be informed of their
obligation to maintain the strict confidentiality of any information provided to them). 

  
 6 

 7.3. Inventions. All rights to discoveries, inventions,
improvements and innovations (including all data and records pertaining thereto) related to the business of the Company, whether or not patentable, copyrightable, registrable as a trademark, or reduced to writing, that Grantee may discover, invent
or originate during the period of his engagement with the Company, either alone or with others and whether or not during working hours or by the use of the facilities of the Company (“Inventions”), shall be the exclusive property of the
Company. Grantee shall promptly disclose all Inventions to the Company, shall execute at the request of the Company any assignments or other documents the Company may deem reasonably necessary to protect or perfect its rights therein, and shall
assist the Company, upon reasonable request and at the Company’s expense, in obtaining, defending and enforcing the Company’s rights therein. Grantee hereby appoints the Company as his attorney-in-fact to execute on his behalf any
assignments or other documents reasonably deemed necessary by the Company to protect or perfect its rights to any Inventions. 
 7.4. Injunctive Relief. It is recognized and acknowledged by Grantee that a breach of the covenants contained in Sections 7.2 and 7.3 will cause irreparable damage to the Company and its
goodwill, the exact amount of which will be difficult or impossible to ascertain, and that the remedies at law for any such breach will be inadequate. Accordingly, Grantee agrees that in the event of a breach of any of the covenants contained in
Sections 7.2 and 7.3, in addition to any other remedy which may be available at law or in equity, the Company will be entitled to specific performance and injunctive relief. 
 Section 8. Grantee’s Representations and Warranties. As used in this Section, the “Company” includes the Company and its affiliates. 

8.1. The Grantee represents and warrant that (a) the Grantee is either a qualified institutional buyer (as defined in
Rule 144A under the Securities Act), an institutional “accredited investor” within the meaning of Rule 501(a)(1), 501(a)(2), 501(a)(3), 501(a)(7) or 501(a)(8) under the Securities Act, or an “accredited investor” within the
meaning of Rule 501(a) under the Securities Act; (b) the acquisition of Award Shares pursuant to this Agreement will be for the Grantee’s own account; (c) the Grantee has such knowledge and experience in financial and business matters
that it is capable of evaluating the merits and risks of an investment in the Award Shares and is able to bear the economic risks of and an entire loss of the Grantee’s investment in the Award Shares; (d) the Grantee is not acquiring the
Award Shares with a view to any distribution thereof in a transaction that would violate the Securities Act or the securities laws of any State of the United States or any other applicable jurisdiction; (e) the Grantee acknowledges that the
Award Shares constitute “restricted securities” under the 

  
 7 

 
Securities Act and have not been registered under the Securities Act and that the Award Shares may not be offered, sold pledged or otherwise transferred only in accordance with the Securities Act
and any applicable securities laws of any State of the United States and only (i) to the Company, (ii) pursuant to a registration statement which has become effective under the Securities Act or (iii) pursuant to an exemption from
registration provided by Rule 144 under the Securities Act or any other available exemption from the registration requirements of the Securities Act and that prior to the registration of any transfer in accordance with (ii) or (iii) above,
the Company reserves the right to require the delivery of such legal opinions, certifications or other evidence as may reasonably be required in order to determine that the proposed transfer is being made in compliance with the Securities Act and
applicable state securities laws, and that the Award Shares will bear a legend to the foregoing effect. 
 Section 9.
Miscellaneous. 
 9.1. Notices. Any notice or communication required or permitted by
this Award will be deemed to be received by the party to whom the notice or communication is addressed if delivered in person or by commercial courier service or sent by first class mail, postage prepaid: if to the Company, addressed to it at EPAM
Systems, Inc. 41 University Drive, Newtown, PA 18940, marked for the attention of the Chief Executive Officer with a copy to Ginger Mosier, General Counsel; and if to the Grantee, addressed to the Grantee to the address set forth below the
Grantee’s signature to this Award or at the address reflected in the Company’s records; or in either case to such other address as either party notifies the other in accordance with this section. 

9.2. Entire Agreement. This Award contains the entire agreement between the parties and supersedes any prior
agreements between them relating to the subject of this Award. 
 9.3. Governing Law. The validity,
construction and effect of this Award, and any rules and regulations relating thereto, shall be determined in accordance with federal law and the laws of the State of Delaware (without regard to any provision that would result in the application of
the laws of any other state or jurisdiction). 
 9.4. Jurisdiction and Venue. The parties
irrevocably submit to personal jurisdiction and venue in the State of New York for the purpose of any suit, action, or proceeding arising out of or relating to this Award. 

9.5. Severability. If any provision of this Award is or becomes or is deemed to be invalid, illegal, or
unenforceable in any jurisdiction, or, as to any person or Award, would disqualify this Award under any law deemed applicable by the Board, such provision shall be construed or deemed 

  
 8 

 
amended to conform to applicable laws, or, if it cannot be so construed or deemed amended without, in the determination of the Board, materially altering the intent of this Award, such provision
shall be stricken as to such jurisdiction, person, or Award, and the remainder of this Award shall remain in full force and effect. 
 9.6. Amendment of Award. This Award may not be amended except in writing and executed by both parties hereto, and no course of conduct by either party or among the parties will be deemed to
amend the terms and conditions of this Award, except if such amendment is reduced to writing and executed by both parties. 
 9.7. Waiver. The waiver of any breach of any provision of this Award by either of the parties does not constitute or operate as a waiver of any other breach of any provision of this Award,
and any failure to enforce any provision of this Award does not operate as a waiver of any existing or future rights, duties, or obligations arising out of this Award. 

9.8. No Fractional Shares. No fractional shares of Common Stock shall be issued or delivered pursuant to
this Award, and the Board shall determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional shares or whether such fractional shares or any rights thereto shall be canceled, terminated, or
otherwise eliminated. 
 9.9. Headings. The headings of the sections of this Award are for
convenience of reference only and do not constitute a part of this Award. 
 9.10. Execution. This
Award may be executed in two or more counterparts, each of which shall constitute a duplicate original. 
 Section 10.
Glossary. 
 10.1. “Board” means the Board of Directors of the Company.

 10.2. “Common Stock” means the Company’s common stock, par value $.001 per share.

 10.3. “Good Reason” means “Good Reason” as defined in the Grantee’s (for the
purpose of this definition, the “Participant”) employment agreement or consultancy agreement, if any, or if not so defined, the occurrence of any of the following events, in each case without Participant’s consent: 

(i) a reduction in the Participant’s base compensation and cash incentive opportunity, other than any such reduction that applies
generally to similarly situated employees or executives of the Company; 

  
 9 

 (ii) relocation of the geographic location of the Participant’s principal place of
employment or service by more than 50 miles from the Participant’s principal place of employment or service; or 
 (iii) a
material reduction in the Participant’s title, duties, responsibilities or authority; 
 provided that, in each case,
(A) the Participant shall provide the Company with written notice specifying the circumstances alleged to constitute Good Reason within 90 days following the first occurrence of such circumstances, (B) if possible, the Company shall have
30 days following receipt of such notice to cure such circumstances, and (C) if the Company has not cured such circumstances within such 30-day period, the Participant shall terminate his or her employment or service not later than 60 days
after the end of such 30-day period. 
 10.4. “Nonvested Shares” means, at any given time, all
of the Award Shares that are not Vested Shares. 
 10.5. “Transfer” means to sell, assign,
transfer, convey, pledge, hypothecate, or otherwise encumber or dispose of, either voluntarily or by operation of law (whether by virtue of execution, attachment, or similar process). 

10.6. “Vested Shares” means, at any given time, the Award Shares that have become Vested Shares pursuant
to Section 3.1. 
 10.7. “Vested Percentage” means, as of the Grant Date, 25%, and from and
after any Grant Date, the percentage as set forth in Section 3.1.1. 
 10.8. “With Cause”
means the Company’s good faith determination of the Grantee’s (for the purpose of this definition, the “Participant”): 
 (i) willful material breach, or habitual neglect of, the Participant’s duties or obligations in connection with the Participant’s employment or service; 

  
 10 

 (ii) having engaged in willful misconduct, gross negligence or a breach of fiduciary duty,
or his or her willful material breach of the Participant’s duties to the Company or under the Participant’s employment agreement or consultancy agreement, if applicable, or of any of the Company policies; 

(iii) having been convicted of, or having entered a plea bargain or settlement admitting guilt for, (x) a felony or (y) any
other criminal offense involving moral turpitude, fraud or, in the course of the performance of the Participant’s service to the Company, material dishonesty; 
 (iv) unlawful use or possession of illegal drugs on the Company’s premises or while performing the Participant’s duties and responsibilities to the Company; or 

(v) the commission of an act of fraud, embezzlement or material misappropriation, in each case, against the Company or any Affiliate;

 provided that, in the case of clauses (i) and (ii) above, the Company shall provide the Participant with written
notice specifying the circumstances alleged to constitute Cause, and, if possible, the Participant shall have 30 days following receipt of such notice to cure such circumstances. 

[signatures contained on the following page] 

  
 11 

 IN WITNESS WHEREOF, the
parties have caused this Restricted Stock Award to be signed under seal as of the date first above written. 
  

			
	EPAM SYSTEMS, INC.
		
	By: 	 	/s/ Arkadiy Dobkin
		 	Arkadiy Dobkin
		 	President & Chief Executive Officer

  

							
	Signature:	  	/s/ Karl Robb	  		  	 
		  	Karl Robb	  		  	
				
	Print Name:	  	 	  		  	 
				
	 Title/Capacity/

Co-ownership:
	  	Individual Person.	  		  	 
				
	Address:	  	 	  		  	 
				
		  	 	  		  	 
				
		  	 	  		  	 

  
 122012 Non-Employee Directors Compensation Plan

 Exhibit 10.15 
 EPAM SYSTEMS, INC. 
 NON-EMPLOYEE DIRECTORS COMPENSATION PLAN

 SECTION 1. Purpose. The purpose of the EPAM Systems, Inc. Non-Employee Directors Compensation Plan (the
“Plan”) is to attract and retain the services of experienced non-employee directors for EPAM Systems, Inc. (the “Company”) by providing them with compensation for their services in the form of cash and/or shares of
the Company’s common stock, thereby promoting the long term growth and financial success of the Company and furthering the best interests of its shareholders. 
 SECTION 2. Definitions. As used in the Plan, the following terms shall have the meanings set forth below: 
 a) “Award” means any Option, Restricted Stock, RSU, Other Stock-Based Award or Retainer granted under the Plan. 
 b) “Award Document” means any agreement, contract or other instrument or document evidencing any Award granted under the Plan, which may, but need not, be executed or acknowledged by a
Participant. 
 c) “Beneficiary” means a person entitled to receive payments or other benefits or exercise
rights that are available under the Plan in the event of a Participant’s death. If no such person is named by a Participant, or if no Beneficiary designated by such Participant is eligible to receive payments or other benefits or exercise
rights that are available under the Plan at such Participant’s death, such Participant’s Beneficiary shall be such Participant’s estate. 
 d) “Board” means the board of directors of the Company. 
 e)
“Change in Control” means the occurrence of any one or more of the following events: 
 i. any
Person, other than an employee benefit plan or trust maintained by the Company, becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than
50% of the combined voting power of the Company’s outstanding securities entitled to vote generally in the election of directors; 
 ii. at any time during a period of 24 consecutive months, individuals who at the beginning of such period constituted the Board and any new member of the Board whose election or nomination for election
was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was so approved, cease for any reason to constitute a majority
of members of the Board; or 
 iii. the consummation of (A) a merger or consolidation of the Company or any
of its subsidiaries with any other corporation or entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either
by remaining outstanding or being converted into voting securities of the surviving entity or, if applicable, the ultimate parent thereof) at least 50% of the combined voting power and total fair market value of the securities of the Company or such
surviving entity or parent outstanding immediately after such merger or consolidation, or (B) any sale, lease, exchange or other transfer to any Person of assets of the Company and/or any of its subsidiaries, in one transaction or a series of
related transactions, having an aggregate fair market value of more than 50% of the fair market value of the Company and its subsidiaries (the “Company Value”) immediately prior to such transaction(s), but only to the extent that,
in connection with such transaction(s) or within a reasonable period thereafter, the Company’s stockholders receive distributions of cash and/or assets having a fair market value that is greater than 50% of the Company Value immediately prior
to such transaction(s). 

 Notwithstanding the foregoing or any provision of any Award Document to the contrary, for any Award that
provides for accelerated distribution on a Change in Control of amounts that constitute “deferred compensation” (as defined in Section 409A of the Code and the regulations thereunder (“Section 409A”)), if the event
that constitutes such Change in Control does not also constitute a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets (in either case, as defined in
Section 409A), such amount shall not be distributed on such Change in Control but instead shall vest as of the date of such Change in Control and shall be paid on the scheduled payment date specified in the applicable Award Document, except to
the extent that earlier distribution would not result in the Participant who holds such Award incurring interest or additional tax under Section 409A. 
 f) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules, regulations and guidance thereunder. Any reference to a provision in the Code shall include
any successor provision thereto. 
 g) “Effective Date” means the date on which the Plan is adopted by the
Board. 
 h) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the
rules, regulations and guidance thereunder. Any reference to a provision in the Exchange Act shall include any successor provision thereto. 
 i) “Fair Market Value” means (i) with respect to Shares, the closing price of a Share on the day prior to the date in question (or, if there is no reported sale on such prior day, on
the last preceding date on which any reported sale occurred) on the principal stock market or exchange on which the Shares are quoted or traded, or if Shares are not so quoted or traded, fair market value as determined by the Board or a committee of
the Board, and (ii) with respect to any property other than Shares, the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Board or a committee of the Board. 

j) “Option” means an option representing the right to purchase Shares from the Company, granted pursuant to
Section 6. 
 k) “Other Stock-Based Award” means an Award granted pursuant to Section 8. 

l) “Participant” means the recipient of an Award granted under the Plan. 

m) “Person” has the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d)
and 14(d) thereof, including “group” as defined in Section 13(d) thereof. 
 n) “Restricted
Stock” means any Share granted pursuant to Section 7. 
 o) “Retainer” means an annual cash
retainer payable pursuant to Section 10 for service as (i) a member of the Board or a committee of the Board or (ii) chair or lead director of the Board or chair of any such committee. 

p) “RSU” means a contractual right granted pursuant to Section 7 that is denominated in Shares. Each RSU represents
a right to receive the value of one Share (or a percentage of such value) in Shares. Awards of RSUs may include the right to receive dividend equivalents. 
 q) “Shares” means shares of the Company’s common stock. 

SECTION 3. Eligibility. Each member of the Board that the Board in its sole discretion determines (i) is (or would be, if the
Shares were then listed on the New York Stock Exchange) “independent” of the Company within the meaning of Section 303A of the New York Stock Exchange Listed Company Manual and (ii) is not affiliated with any stockholder or group
of stockholders who beneficially own 10% or more of the Shares (calculated on a fully diluted basis and assuming the conversion of all shares of the Company’s preferred stock, par value $0.001 per share) shall be eligible to receive Awards
under the Plan. 

  
 2 

 SECTION 4. Administration. 

a) The Plan shall be administered by the Board. The Board may issue rules and regulations for administration of the Plan. The Board shall
meet at such times and places as it may determine. 
 b) Subject to the terms of the Plan and applicable law, the Board shall
have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to each Participant under the Plan; (iii) determine the number of Shares to be covered by (or with respect to which
payments, rights or other matters are to be calculated in connection with) Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to what extent and under what circumstances Awards may be settled or exercised
in cash, Shares, other Awards, other property, or any combination thereof, or canceled, forfeited or suspended, and the method or methods by which Awards may be settled, exercised, canceled, forfeited or suspended; (vi) determine whether, to
what extent and under what circumstances cash, Shares, other Awards, other property and other amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder thereof or of the Board;
(vii) interpret and administer the Plan and any instrument or agreement relating to, or Award made under, the Plan; (viii) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate
for the proper administration of the Plan; and (ix) make any other determination and take any other action that the Board deems necessary or desirable for the administration of the Plan. 

c) All decisions of the Board shall be final, conclusive and binding upon all parties, including the Company, its shareholders and the
Participants and any Beneficiaries thereof. 
 SECTION 5. Shares Available for Awards. 

a) Subject to adjustment as provided in Section 5(c), the maximum number of Shares available for issuance under the Plan shall not
exceed 600,000 Shares in the aggregate. 
 b) Any Shares subject to an Award that expires, is canceled, forfeited or otherwise
terminates without the delivery of such Shares, including (i) the number of Shares surrendered or withheld in payment of any grant, purchase, exercise or hurdle price of an Award or taxes related to an Award and (ii) any Shares subject to
an Award to the extent that Award is settled without the issuance of Shares, shall again be, or shall become, available for issuance under the Plan. 
 c) In the event that the Board determines that, as a result of any dividend or other distribution (whether in the form of cash, Shares or other securities), recapitalization, stock split, reverse stock
split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company, issuance
of Shares pursuant to the anti-dilution provisions of securities of the Company, or other similar corporate transaction or event affecting the Shares, or of changes in applicable laws, regulations or accounting principles, an adjustment is
appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Board shall adjust equitably any or all of: 

(i) the number and type of Shares (or other securities) which thereafter may be made the subject of Awards, including the aggregate Share
limit specified in Section 5(a); 
 (ii) the number and type of Shares (or other securities) subject to outstanding Awards;
and 
 (iii) the grant, purchase, exercise or hurdle price with respect to any Award or, if deemed appropriate, make provision
for a cash payment to the holder of an outstanding Award; provided, however, that the number of Shares subject to any Award denominated in Shares shall always be a whole number. 

  
 3 

 d) Any Shares delivered pursuant to an Award may consist, in whole or in part, of authorized
and unissued Shares or Shares acquired by the Company. 
 SECTION 6. Options. The Board is authorized to grant
Options to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Board shall determine: 

a) The exercise price per Share under an Option; provided, however, that such exercise price shall not be less than the Fair Market Value
of a Share on the date of grant of such Option. 
 b) The term of each Option, which shall not exceed 10 years from the date of
grant of such Option. 
 c) The time or times at which an Option may be exercised in whole or in part. The Board may specify in
an Award Document that an “in-the-money” Option shall be automatically exercised on its expiration date. 
 d) The
method or methods by which, and the form or forms, including cash, Shares, other Awards, other property, net settlement, broker assisted cashless exercise or any combination thereof, having a Fair Market Value on the exercise date equal to the
relevant exercise price, in which payment of the exercise price with respect thereto may be made or deemed to have been made. 

SECTION 7. Restricted Stock and RSUs. The Board is authorized to grant Awards of Restricted Stock and RSUs to Participants with
the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 

a) The Award Document shall specify the vesting schedule and, with respect to RSUs, the delivery schedule (which may include deferred
delivery later than the vesting date). 
 b) Shares of Restricted Stock and RSUs shall be subject to such restrictions as the
Board may impose (including any limitation on the right to vote a Share of Restricted Stock or the right to receive any dividend, dividend equivalent or other right), which restrictions may lapse separately or in combination at such time or times,
in such installments or otherwise, as the Board may deem appropriate. 
 c) Any share of Restricted Stock granted under the Plan
may be evidenced in such manner as the Board may deem appropriate, including book-entry registration or issuance of a stock certificate or certificates. In the event any stock certificate is issued in respect of shares of Restricted Stock granted
under the Plan, such certificate shall be registered in the name of the Participant and shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock. 

d) The Board may provide in an Award Document that an Award of Restricted Stock is conditioned upon the Participant making or refraining
from making an election with respect to the Award under Section 83(b) of the Code. If a Participant makes an election pursuant to Section 83(b) of the Code with respect to an Award of Restricted Stock, the Participant shall
be required to file promptly a copy of such election with the Company. 
 SECTION 8. Other Stock-Based Awards. The Board
is authorized, subject to limitations under applicable law, to grant to Participants such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares or factors that
may influence the value of Shares, including convertible or exchangeable debt securities, other rights convertible or exchangeable into Shares, purchase rights for Shares, Awards with value and payment contingent upon performance of the Company or
business units thereof or any other factors designated by the Board or a committee of the Board. The Board shall 

  
 4 

 
determine the terms and conditions of such Awards. Shares delivered pursuant to an Award in the nature of a purchase right granted under this Section 8 shall be purchased for such
consideration, paid for at such times, by such methods and in such forms, including cash, Shares, other Awards, other property, net settlement, broker assisted cashless exercise or any combination thereof, as the Board shall determine. 

SECTION 9. Automatic Grants. The Board or a committee of the Board may institute, by resolution, automatic Award grants to
new and to continuing members of the Board, with the number and type of such Awards, the terms and conditions of such Awards, and the criteria for the grant of such Awards, as is determined by the Board or a committee of the Board, in its sole
discretion. 
 SECTION 10. Retainers. The Board is authorized, subject to limitations under applicable law,
to grant Retainers to Participants. The Board shall determine the terms and conditions of such Retainers, including without limitation (i) the amounts payable, (ii) the payment dates (including whether payment is made in a lump sum or
installments and whether payment is made in advance or arrears), (iii) whether such Retainers may be electively received in Shares and (iv) whether such Retainers may be electively deferred, subject to such rules and procedures as it may
establish in accordance with Section 409A of the Code, and, if so, whether such deferred Retainers may be distributed in cash and/or Shares. Shares issued to Participants pursuant to (iii) or (iv) above will not count against the
aggregate Share limit specified in Section 5(a). The number of Shares that will be issued to a Participant who elects to receive a Retainer in Shares shall equal the amount of cash that otherwise would have been paid to such Participant on the
payment date of such Retainer divided by the Fair Market Value of a Share as of such payment date. 
 SECTION 11.
Effect of Termination of Service or a Change in Control on Awards. The Board may provide, by rule or regulation or in any Award Document, or may determine in any individual case, the circumstances in which, and the extent to which, an Award
may be exercised, settled, vested, paid or forfeited in the event of a Participant’s termination of service from the Board or a Change in Control prior to exercise or settlement of such Award. 

SECTION 12. General Provisions Applicable to Awards. 
 a) Awards shall be granted for no cash consideration or for such minimal cash consideration as may be required by applicable law. 
 b) Awards may, in the discretion of the Board, be granted either alone or in addition to or in tandem with any other Award or any award granted under any other plan of the Company. Awards granted in
addition to or in tandem with other Awards, or in addition to or in tandem with awards granted under any other plan of the Company, may be granted either at the same time as or at a different time from the grant of such other Awards or awards.

 c) Subject to the terms of the Plan, payments or transfers to be made by the Company upon the grant, exercise or settlement
of an Award may be made in the form of cash, Shares, other Awards, other property, net settlement, or any combination thereof, as determined by the Board in its discretion at the time of grant, and may be made in a single payment or transfer, in
installments or on a deferred basis, in each case in accordance with rules and procedures established by the Board. Such rules and procedures may include provisions for the payment or crediting of reasonable interest on installment or deferred
payments or the grant or crediting of dividend equivalents in respect of installment or deferred payments. 
 d) Except as may
be permitted by the Board or as specifically provided in an Award Document, (i) no Award and no right under any Award shall be assignable, alienable, saleable or transferable by a Participant otherwise than by will or pursuant to
Section 12(e) and (ii) during a Participant’s lifetime, each Award, and each right under any Award, shall be exercisable only by such Participant or, if permissible under applicable law, by such Participant’s guardian or legal
representative. The provisions of this Section 12(d) shall not apply to any Award that has been fully exercised or settled, as the case may be, and shall not preclude forfeiture of an Award in accordance with the terms thereof. 

  
 5 

 e) A Participant may designate a Beneficiary or change a previous Beneficiary designation at
such times prescribed by the Board by using forms and following procedures approved or accepted by the Board for that purpose. 

f) All certificates for Shares and/or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be
subject to such stop transfer orders and other restrictions as the Board may deem advisable under the Plan or the rules, regulations and other requirements of the Securities and Exchange Commission, any stock market or exchange upon which such
Shares or other securities are then quoted, traded or listed, and any applicable securities laws, and the Board may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

SECTION 13. Amendments and Terminations. 
 a) Except to the extent prohibited by applicable law and unless otherwise expressly provided in an Award Document or in the Plan, the Board may amend, alter, suspend, discontinue or terminate the Plan or
any portion thereof at any time; provided, however, that no such amendment, alteration, suspension, discontinuation or termination shall be made without (i) shareholder approval if such approval is required by applicable law or the rules
of the stock market or exchange, if any, on which the Shares are principally quoted or traded or (ii) the consent of the affected Participant, if such action would materially adversely affect the rights of such Participant under any outstanding
Award, except to the extent any such amendment, alteration, suspension, discontinuance or termination is made to cause the Plan to comply with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations.
Notwithstanding anything to the contrary in the Plan, the Board may amend the Plan in such manner as may be necessary to enable the Plan to achieve its stated purposes in any jurisdiction in a tax-efficient manner and in compliance with local rules
and regulations. 
 b) The Board may waive any conditions or rights under, amend any terms of, or amend, alter, suspend,
discontinue or terminate any Award theretofore granted, prospectively or retroactively, without the consent of any relevant Participant or holder or Beneficiary of an Award; provided, however, that no such action shall materially adversely
affect the rights of any affected Participant or holder or Beneficiary under any Award theretofore granted under the Plan, except to the extent any such action is made to cause the Plan to comply with applicable law, stock market or exchange rules
and regulations or accounting or tax rules and regulations; provided further that, except as provided in Section 5(c), no such action shall directly or indirectly, through cancellation and regrant or any other method, reduce, or have the
effect of reducing, the exercise price of any Award established at the time of grant thereof. 
 c) The Board shall be
authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of events (including the events described in Section 5(c) affecting the Company, or the financial statements of the Company, or
of changes in applicable laws, regulations or accounting principles, whenever the Board determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available
under the Plan. 
 d) The Board may correct any defect, supply any omission, or reconcile any inconsistency in the Plan or any
Award in the manner and to the extent it shall deem desirable to carry the Plan into effect. 
 SECTION 14.
Miscellaneous. 
 a) No Participant or other Person shall have any claim to be granted any Award under the Plan, and
there is no obligation for uniformity of treatment of Participants or holders or Beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to each Participant. 

b) The grant of an Award shall not be construed as giving a Participant the right to be retained in the service of the Board or the
Company. The receipt of any Award under the Plan is not intended to confer any rights on the receiving Participant except as set forth in the applicable Award Document. 

  
 6 

 c) Nothing contained in the Plan shall prevent the Company from adopting or continuing in
effect other or additional compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases. 
 d) The Company shall be authorized to withhold from any Award granted or any payment due or transfer made under any Award or under the Plan or from any compensation or other amount owing to a Participant
the amount (in cash, Shares, other Awards, other property, net settlement, or any combination thereof) of applicable withholding taxes due in respect of an Award, its exercise or settlement or any payment or transfer under such Award or under the
Plan and to take such other action (including providing for elective payment of such amounts in cash or Shares by the Participant) as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes.

 e) If any provision of the Plan or any Award Document is or becomes or is deemed to be invalid, illegal or unenforceable in
any jurisdiction, or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Board, 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 determination of the Board, materially altering the intent of the Plan or the Award Document, such provision shall be stricken as to such jurisdiction, Person or Award, and the remainder of the Plan and
any such Award Document shall remain in full force and effect. 
 f) Neither the Plan nor any Award shall create or be construed
to create a trust or separate fund of any kind or a fiduciary relationship between the Company and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Company pursuant to an Award, such
right shall be no greater than the right of any unsecured general creditor of the Company. 
 g) No fractional Shares shall be
issued or delivered pursuant to the Plan or any Award, and the Board shall determine whether cash or other securities shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be
canceled, terminated or otherwise eliminated. 
 SECTION 15. Effective Date of the Plan. The Plan shall be effective as
of the Effective Date. 
 SECTION 16. Term of the Plan. No Award shall be granted under the Plan after the
earliest to occur of (i) the tenth year anniversary of the Effective Date; provided that to the extent permitted by the listing rules of any stock exchange on which the Company is listed, such ten-year term may be extended indefinitely
so long as the maximum number of Shares available for issuance under the Plan have not been issued, (ii) the maximum number of Shares available for issuance under the Plan have been issued or (iii) the Board terminates the Plan in
accordance with Section 13(a). However, unless otherwise expressly provided in the Plan or in an applicable Award Document, any Award theretofore granted may extend beyond such date, and the authority of the Board to amend, alter, adjust,
suspend, discontinue or terminate any such Award, or to waive any conditions or rights under any such Award, and the authority of the Board to amend the Plan, shall extend beyond such date. 

SECTION 17. Section 409A of the Code. With respect to Awards subject to Section 409A, the Plan is intended to
comply with the requirements of Section 409A, and the provisions of the Plan and any Award Document shall be interpreted in a manner that satisfies the requirements of Section 409A, and the Plan shall be operated accordingly. If any
provision of the Plan or any term or condition of any Award would otherwise frustrate or conflict with this intent, the provision, term or condition will be interpreted and deemed amended so as to avoid this conflict. If the Board considers a
Participant to be one of the Company’s “specified employees” under Section 409A at the time of such Participant’s “separation from service” (as defined in Section 409A), any distribution that otherwise would
be made to such Participant with respect to an Award that is subject to Section 409A as a result of such separation from service shall not be made until the date that is six months after such separation from service, except to the extent that
earlier distribution would not result in such Participant’s incurring interest or additional tax under Section 409A. 

  
 7 

 SECTION 18. Governing Law. The Plan and each Award Document shall be governed
by the laws of the State of Delaware, without application of the conflicts of law principles thereof. 

  
 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00198-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00198-of-00352.parquet"}]]