Document:

Exhibit 10.3

 

Subscription Agreement

 

This subscription
agreement (this “Subscription”) is dated February 22, 2019, by and between the investor identified on the signature
page hereto (the “Investor”) and Chicken Soup for the Soul Entertainment, Inc., a Delaware corporation (the
“Company”), whereby the parties agree as follows:

 

WHEREAS, the Company desires to sell, and
the Investor desires to purchase shares of the Company’s 9.75% Series A cumulative redeemable preferred stock (“Series
A Preferred Stock”).

 

NOW, THEREFORE, in consideration of the
mutual agreements contained herein, the parties hereto agree as follows:

 

1.            Subscription.

 

(a)           Investor agrees to buy and, subject to acceptance as provided below, the Company agrees to sell and issue to Investor, such
number of shares (the “Shares”) of the Series A Preferred Stock as are set forth on the signature page hereto,
for the aggregate purchase price set forth on the signature page hereto (the “Purchase Price”).

 

(b)           The Shares have been registered pursuant to a Registration Statement on Form S-3, Registration No. 333-227596, which registration
statement (the “Registration Statement”) has been declared effective by the Securities and Exchange Commission
and is effective on the date hereof. A final prospectus supplement will be delivered as required by law.

 

(c)           The Company may accept this Subscription at any time for all or any portion of the Shares subscribed for by executing a
copy hereof as provided and notifying the Investor within a reasonable time thereafter. The Company has the right to reject this
subscription for the Series A Preferred Stock, in whole or in part for any reason and at any time prior to the Closing (as defined
below) thereon, notwithstanding prior receipt by the Investor of notice of acceptance of the Investor’s subscription. In
the event the Investor’s subscription is rejected, the Investor’s payment will be returned from escrow promptly to
the Investor without interest or deduction and this Subscription will have no force or effect. The Shares subscribed for herein
will not be deemed issued to or owned by the Investor until one copy of this Subscription has been executed by the Investor and
countersigned by the Company and the Closing with respect to the Investor’s subscription has occurred.

 

(d)           Provided that the full Purchase Price and a completed and manually executed copy of this Subscription have been tendered
and not returned in accordance with Section 2, the closing of Investor’s purchase of the Shares shall occur on or prior to
February 22, 2019, which date may be extended by up to five business days by the Company without notice to the Investor (such date,
as may be extended, the “Closing Date”). Promptly thereafter, the Company shall cause the Shares to be delivered
to the Investor, which delivery shall be made by delivery of physical certificates to Investor, or if so designated, through the
facilities of The Depository Trust Company’s DWAC system in accordance with the instructions set forth on the Investor’s
signature page attached hereto under the heading “DWAC Instructions.”

 

2.            Investor Delivery of Documents and Payment. The Investor hereby tenders to the Company (i) the full Purchase Price
by check or wire transfer and (ii) one completed and manually executed copy of this Subscription. In the event that the sale of
Shares are not consummated for any reason, the Purchase Price will be returned to the investor without interest or deduction.

 

     

     

    

 

3.            Company Representations and Warranties.  The Company represents and warrants that: (a) it has full corporate
power and authority to enter into this Subscription and to perform all of its obligations hereunder; (b) this Subscription has
been duly authorized and executed by and, when delivered in accordance with the terms hereof, will constitute a valid and binding
agreement of the Company enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the rights and remedies of creditors generally or subject to general
principles of equity; (c) the execution and delivery of this Subscription and the consummation of the transactions contemplated
hereby do not conflict with or result in a breach of (i) the Company’s Amended and Restated Certificate of Incorporation
(including the Certificate of Designations of the Series A Preferred Stock) or Bylaws, or (ii) any material agreement to which
the Company is a party or by which any of its property or assets is bound; (d) the Shares when issued and paid for in accordance
with the terms of this Subscription will be duly authorized, validly issued, fully paid and non-assessable; (e) the Registration
Statement and any post-effective amendment thereto, at the time it became effective, did not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
(f) the prospectus contained in the Registration Statement, as amended or supplemented, did not contain as of the effective date
thereof, and as of the date hereof does not contain, any untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in light of the circumstances under which they were made, not misleading; and (g) all
preemptive rights or rights of first refusal held by stockholders of the Company and applicable to the transactions contemplated
hereby have been duly satisfied or waived in accordance with the terms of the agreements between the Company and such stockholders
conferring such rights.

 

4.            Investor Representations, Warranties and Acknowledgments. 

 

(a)           The Investor represents and warrants that: (i) it has full right, power and authority to enter into this Subscription and
to perform all of its obligations hereunder; (ii) this Subscription has been duly authorized and executed by the Investor and ,
when delivered in accordance with the terms hereof, will constitute a valid and binding agreement of the Investor enforceable against
the Investor in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting the rights and remedies of creditors generally or subject to general principles of equity;
(iii) the execution and delivery of this Subscription and the consummation of the transactions contemplated hereby do not conflict
with or result in a breach of (A) the Investor’s certificate of incorporation or by-laws (or other governing documents),
or (B) any material agreement or any law or regulation to which the Investor is a party or by which any of its property or assets
is bound; (iv) it has had full access to the base prospectus included in the Registration Statement and the Company’s periodic
reports and other information incorporated by reference therein, and was able to read, review, download and print such materials;
(v) in making its investment decision in this offering, the Investor and its advisors, if any, have relied solely on the Company’s
public filings with the Securities and Exchange Commission; (vi) it is knowledgeable, sophisticated and experienced in making,
and is qualified to make, decisions with respect to investments in securities representing an investment decision like that involved
in the purchase of the Shares; and (vii) except as set forth below, the Investor is not a, and it has no direct or indirect affiliation
or association with any, National Association of Securities Dealers, Inc. member as of the date hereof.

 

	Exceptions:
	 
	 

(If no exceptions,
write “none.” If left blank, response will be deemed to be “none.”)

 

(b)           The Investor also represents and warrants that, other than the transactions contemplated hereunder, the Investor has not
directly or indirectly, nor has any person acting on behalf of or pursuant to any understanding with the Investor, executed any
disposition, including “short sales” as defined in Rule 200 of Regulation SHO under the Securities Exchange Act of
1934 (the “Short Sales”), in the securities of the Company during the period commencing from the time that the
Investor first became aware of the proposed transactions contemplated hereunder until the date hereof (“Discussion Time”).
The Investor has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the
existence and terms of this transaction).

 

    2

     

    

 

5.            Investor Covenant Regarding Short Sales and Confidentiality. The Investor covenants that neither it nor any affiliates
acting on its behalf or pursuant to any understanding with it will execute any Short Sales or other disposition of securities of
the Company during the period after the Discussion Time and ending at the time that the transactions contemplated by this Subscription
are first publicly announced through a press release and/or Form 8-K. The Investor covenants that until such time as the transactions
contemplated by this Subscription are publicly disclosed by the Company through a press release and/or Form 8-K, the Investor will
maintain the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms
of this transaction).

 

6.            Miscellaneous.

 

(a)           This
Subscription constitutes the entire understanding and agreement between the parties with respect to its subject matter, and there
are no agreements or understandings with respect to the subject matter hereof which are not contained in this Subscription. This
Subscription may be modified only in writing signed by the parties hereto.

 

(b)           This Subscription may be executed in any number of counterparts, all of which taken together shall constitute one and the
same instrument and shall become effective when counterparts have been signed by each party and delivered to the other parties
hereto, it being understood that all parties need not sign the same counterpart.  Execution may be made by delivery by facsimile.

 

(c)           The provisions of this Subscription are severable and, in the event that any court or officials of any regulatory agency
of competent jurisdiction shall determine that any one or more of the provisions or part of the provisions contained in this Subscription
shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision or part of a provision of this Subscription and this Subscription shall be reformed and construed
as if such invalid or illegal or unenforceable provision, or part of such provision, had never been contained herein, so that such
provisions would be valid, legal and enforceable to the maximum extent possible, so long as such construction does not materially
adversely effect the economic rights of either party hereto.

 

(d)           All
communications hereunder, except as may be otherwise specifically provided herein, shall be in writing and shall be mailed, hand
delivered, sent by a recognized overnight courier service such as Federal Express, or sent via facsimile and confirmed by letter,
to the party to whom it is addressed at the following addresses or such other address as such party may advise the other in writing:

 

To the Seller: 
as set forth on the signature page hereto.

 

To the Buyer: 
as set forth on the signature page hereto.

 

All notices hereunder shall be effective upon receipt by the
party to which it is addressed.

 

(e)           This Subscription shall be governed by and interpreted in accordance with the laws of the State of Connecticut for contracts
to be wholly performed in such state and without giving effect to the principles thereof regarding the conflict of laws. 
To the extent determined by such court, the prevailing party shall reimburse the other party for any reasonable legal fees and
disbursements incurred in enforcement of, or protection of any of its rights under this Subscription.

 

    3

     

    

 

If the foregoing correctly sets forth our
agreement, please confirm this by signing and returning to us the duplicate copy of this Subscription.

 

	 	CHICKEN SOUP FOR THE SOUL ENTERTAINMENT, INC. 
	 	 	 
	 	By:  	 /s/ William J. Rouhana, Jr.
	 	 	Name: William J. Rouhana, Jr.
	
        Number of Shares: 5,000

         

        Purchase Price Per Share: $25.00

         

        Aggregate Purchase Price:
        $125,000
	 	
        Title: Chief Executive Officer

        

        Address for Notice:

         

        Chicken Soup for the Soul Entertainment, Inc.

        132 E. Putnam Avenue, Floor 2W

        Cos Cob, Connecticut 06807

        Facsimile: [( )_____]

        Attention: Chief Executive Officer

	 	 	 
	INVESTOR:	 	 
	 	 	 
	/s/ Mark L. Epstein	 	 	 
	 Mark L. Epstein	 	 
	 	 	 
	Address for Notice:	 	 
	 	 	 
	Facsimile: 	 	 
	Attention: 	 	 
	 	 	 
	DWAC Instructions:	 	 
	 	 	 
	Name of DTC Participant (broker-dealer at which
    the account or accounts to be credited with the Shares are maintained):		 
	 	 	 
	DTC Participant Number:	 	 
	 	 	 
	Name of Account at DTC Participant being
    credited with the Shares:	 	 
	 	 	 
	Account Number at DTC Participant being
    credited with the Shares:	 	 

 

    4EX-10.1

 Exhibit 10.1 

COMMUNITY HEALTH SYSTEMS, INC. 

2019 EMPLOYEE PERFORMANCE INCENTIVE PLAN 

January 1, 2019 

 Table of Contents 

 

					
	 	  	Page	 
	 ARTICLE I PURPOSE
	  	 	1	 
	 ARTICLE II DEFINITIONS
	  	 	1	 
	 ARTICLE III ADMINISTRATION
	  	 	2	 
	 ARTICLE IV PERFORMANCE INCENTIVE AWARDS
	  	 	3	 
	 ARTICLE V PAYMENT OF PERFORMANCE INCENTIVE AWARDS
	  	 	8	 
	 ARTICLE VI MISCELLANEOUS
	  	 	10	 

  
 i 

 COMMUNITY HEALTH SYSTEMS, INC. 

2019 EMPLOYEE PERFORMANCE INCENTIVE PLAN 

ARTICLE I 
 PURPOSE

 The purpose of the Community Health Systems 2019 Employee Performance Incentive Plan (the “Plan”) is to promote the
interests of Community Health Systems, Inc. and its subsidiaries and affiliates (together, the “Company”) and its stockholders by providing additional compensation as incentive to certain employees of the Company or its subsidiaries
and affiliates who contribute materially to the success of the Company. 
 ARTICLE II 

DEFINITIONS 
 The
following terms when used in the Plan shall, for the purposes of the Plan, have the following meanings: 

2.1    “Award” shall mean bonus incentive compensation paid in cash. 

2.2    “Beneficiary” means the person, persons or estate entitled to receive payment under the Plan
following a Participant’s death. 
 2.3    “Board” shall mean the Board of Directors of the
Company. 
 2.4    “Cause” shall mean the Participant’s (i) intentional failure to perform
reasonably assigned duties, (ii) dishonesty or willful misconduct in the performance of duties, (iii) involvement in a transaction in connection with the performance of duties to the Company which transaction is adverse to the interests of
the Company and which is engaged in for personal profit or (iv) willful violation of any law, rule or regulation in connection with the performance of duties (other than traffic violations or similar offenses). 

2.5    “Code” shall mean the Internal Revenue Code of 1986, as amended. 

2.6    “Committee” means the Compensation Committee of the Board. 

2.7    “Company” shall have the meaning set forth in Article I. 

2.8    “Determination Date” means the date on which the Performance Goals are set which shall be at a
time when the outcome of the Performance Goals are substantially uncertain. 
 2.9    “Deferred Bonus
Award” shall mean any Award whose payment has been designated by the Plan Administrator or Committee to be deferred as set forth in Section 5.2. 

2.10    “Fiscal Year” shall mean the Company’s accounting year of 12 months commencing on
January 1st of each year and ending the following December 31st, or such other accounting period as may be established by the Board. 

  
 1 

 2.11    “Mid-Year
Participant” shall mean any Participant in the Plan who does not commence participation on the first day of the Fiscal Year. 

2.12    “Operating Unit” shall mean any hospital or group of hospitals, clinic or group of clinics,
medical office building or group of medical office buildings, nursing facility or group of nursing facilities, any other operating unit designated by the Plan Administrator or the Committee (as applicable) or any combination of any of the foregoing.

 2.13    “Participant” shall mean an employee of the Company as may be designated by the Plan
Administrator to participate in the Plan with respect to each Fiscal Year. 
 2.14    “Participation
Period” shall mean the period of time during which an individual is actually a Participant in the Plan for any Fiscal Year. 

2.15    “Performance Objective” shall mean one or more performance goals based on the criteria described
in Section 4.3 and established as described herein with respect to an individual Participant for the Fiscal Year. 

2.16    “Plan” shall have the meaning set forth in Article I. 

2.17    “Plan Administrator” shall have the meaning set forth in Section 3.1. 

2.18    “Pro-Rata Award” shall have the meaning set forth in
Section 5.8. 
 2.19    “Qualifying Termination” shall mean the termination of the
Participant’s employment due to death, disability, termination without Cause, and, if such Participant is a party to a change in control agreement with the Company and “good reason” is defined in the change in control agreement, a
termination by the Participant for “good reason” as such term is defined in the Participant’s change in control agreement. 

2.20    “Regulations” shall have the meaning set forth in Section 3.3. 

2.21    “Section 409A” shall mean Section 409A of the Code and the applicable
Treasury Regulations and guidance promulgated thereunder. 
 2.22    “Treasury Regulation” shall mean a
regulation promulgated by the United States Department of the Treasury. 
 ARTICLE III 

ADMINISTRATION 

3.1    The Plan shall be administered by the Committee (the “Plan Administrator”), except as otherwise
provided herein. 
 3.2    Subject to the terms of the Plan and applicable law, the Committee may delegate to one or
more officers of the Company , or to a committee of such officers, the authority, subject to such terms and limitations as the Committee shall determine, (i) to grant Awards (including the determination of the matters described in
Section 4.1) to or to cancel, modify or 

  
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waive rights with respect to, or (ii) to alter, discontinue, suspend or terminate Awards held by Participants who are not officers or directors of the Company for purposes of Section 16
of the Securities Exchange Act of 1934, or who are otherwise not subject to such provision. References to the Plan Administrator in the Plan shall include, with respect to Awards described in this Section 3.2, such officers to whom the
Committee has delegated such authority. 
 3.3    The Plan Administrator may, from time to time, (i) adopt rules
and regulations (“Regulations”) for carrying out the provisions and purposes of the Plan and make such determinations, not inconsistent with the terms of the Plan, as the Plan Administrator shall deem appropriate, and
(ii) alter, amend or revoke any Regulation so adopted. 
 3.4    The interpretation and construction of any
provision of the Plan by the Plan Administrator shall be final and conclusive. 
 3.5    No member of the Board,
including members of the Committee, nor any officers to whom authority is delegated pursuant to Section 3.2 of the Plan, shall be liable for any action, failure to act, determination or interpretation made in good faith with respect to this
Plan or any transaction hereunder or for any action, failure to act, determination or interpretation made by another member, officer, agent or employee of the Board, the Committee or the Company in administering this Plan. The Company hereby agrees
to indemnify each member of the Board, including members of the Committee, and the Chief Executive Officer and the Chief Financial Officer of the Company, for all costs and expenses and, to the extent permitted by applicable law, any liability
incurred in connection with defending against, responding to, negotiating for the settlement of or otherwise dealing with any claim, cause of action or dispute of any kind arising by reason of an event(s) described in the immediately preceding
sentence. 
 ARTICLE IV 

PERFORMANCE INCENTIVE AWARDS 

4.1    For each Fiscal Year of the Company, the Plan Administrator shall determine the following: 

 

	 	(a)	 The employees who will participate in the Plan for such Fiscal Year; 

 

	 	(b)	 The basis(es) for determining the amount of the Awards to such Participants; 

 

	 	(c)	 The Performance Objectives applicable to an Award; and 

 

	 	(d)	 Whether the Award will be a Deferred Bonus Award. 

The basis(es) for determining the amount of the Awards shall be dependent upon the attainment by the Company of specified Performance
Objectives, as further described in Section 4.3. The Plan Administrator shall decide at the time of the grant of an Award whether the Award will be a Deferred Bonus Award subject to the provisions set forth in Section 5.2. 

  
 3 

 Participants may be granted more than one Award in respect of any Fiscal Year, which Awards
may be subject to the attainment of different Performance Objectives or may be subject to different payment criteria (e.g., a Deferred Bonus Award may be granted in addition to an Award that is not a Deferred Bonus Award and may be subject to the
same or different Performance Objectives). 
 4.2    The Plan Administrator shall establish in writing one or more
Performance Objectives based on the criteria described in Section 4.3 of the Plan no later than the Determination Date. In establishing Performance Objectives, the Plan Administrator shall also state the method for computing the amount of the
Award payable to the Participant if a Performance Objective(s) is attained. No Award shall be paid to a Participant unless the Plan Administrator determines that the Performance Objectives applicable to the Participant have been achieved. 

4.3    Performance criteria for Awards under the Plan shall be one or more of the following Performance Objectives: 

 

	 	(1)	 Financial Performance Criteria: 

 

	 	a.	 Earnings per share; 

  

	 	b.	 Continuing operations earnings per share; 

 

	 	c.	 Operating income; 

  

	 	d.	 Gross income; 

  

	 	e.	 Net income (before or after taxes); 

 

	 	f.	 Cash flows from operating activities or free cash flow; 

 

	 	g.	 Gross profit; 

  

	 	h.	 Gross profit return on investment; 

 

	 	i.	 Gross margin return on investment; 

 

	 	j.	 Gross margin; 

  

	 	k.	 Operating margin; 

  

	 	l.	 Working capital; 

  

	 	m.	 Earnings before interest and taxes; 

 

	 	n.	 Earnings before interest, tax, depreciation and amortization (“EBITDA”), adjusted EBITDA, and
EBITDA-based goals, including (without limitation) EBITDA target, divisional hospital EBITDA, adjusted or modified EBITDA, EBITDA margin, and EBITDA margin improvement; 

  
 4 

	 	o.	 Return on equity; 

  

	 	p.	 Return on assets; 

  

	 	q.	 Return on capital; 

  

	 	r.	 Return on invested capital; 

 

	 	s.	 Net revenues; 

  

	 	t.	 Divisional hospital revenue; 

 

	 	u.	 Gross revenues; 

  

	 	v.	 Revenue growth; 

  

	 	w.	 Annual recurring revenues; 

 

	 	x.	 Recurring revenues; 

  

	 	y.	 Service revenues; 

  

	 	z.	 License revenues; 

  

	 	aa.	 Cash receipts targets; 

 

	 	bb.	 Sales or market share; 

 

	 	cc.	 Total shareholder return; 

 

	 	dd.	 Total shareholder return percentile rank target; 

 

	 	ee.	 Non-self pay admissions growth; 

 

	 	ff.	 Division hospital non-self pay admissions growth;

  

	 	gg.	 Economic value added; 

 

	 	hh.	 Specified objectives with regard to limiting the level of increase in all or a portion of the Company’s
bank debt or other long-term or short-term public or private debt or other similar financial obligations of the Company, which may be calculated net of cash balances and/or other offsets and adjustments as may be established by the Committee in its
sole discretion; 

  

	 	ii.	 Bad debt expense; 

  
 5 

	 	jj.	 Uncompensated care expense; 

 

	 	kk.	 The fair market value or trading price of a share of stock; 

 

	 	ll.	 Valuations or trading prices of other securities issued by the Company or its subsidiaries;

  

	 	mm.	 Days net revenue in net patient accounts receivable; 

 

	 	nn.	 The growth in the value of an investment in the stock assuming the reinvestment of dividends; and/or

  

	 	oo.	 Reduction in operating expenses. 

 

	 	(2)	 Qualitative Performance Criteria: 

 

	 	a.	 Physician and mid-level provider recruitment; 

 

	 	b.	 Capital expenditures; 

 

	 	c.	 Capital expenditures within the established capital budget; 

 

	 	d.	 Overall clinical compliance; 

 

	 	e.	 Clinic operating results; 

 

	 	f.	 Physician practice (clinic) operations improvement; 

 

	 	g.	 Meaningful use reimbursement; 

 

	 	h.	 Peer group performance in volume, revenue, earnings growth, and stock price appreciation;

  

	 	i.	 Key operating statistics; 

 

	 	j.	 Case/resource management program;. 

 

	 	k.	 Productivity management; 

 

	 	l.	 Quality indicators/clinical compliance; 

 

	 	m.	 Patient safety; 

  

	 	n.	 Operating expenses per equivalent patient day; 

 

	 	i.	 Operating expenses are all income statement expenses excluding rent, depreciation, amortization, management fee
expense and interest expense; 

  
 6 

	 	ii.	 Equivalent patient days is a method of adjusting the number of patient days to compensate for outpatient
service rendered; 

  

	 	o.	 Performance improvements; 

 

	 	p.	 Adjusted admissions growth; 

 

	 	q.	 Exceeding industry performance; and/or 

 

	 	r.	 Discretionary. An amount equal to a specified percentage of each Participant’s salary or a lump sum amount
may be awarded based upon other criteria that recognize accomplishments of a Participant during the year. Focus will be on quality, service, regulatory compliance, and accomplishment of specific unique projects, among other items.

 The Plan Administrator may define such Performance Objectives with reference to generally accepted accounting principles
(“GAAP”) where applicable, or may adopt such definitions or modifications of GAAP as it deems appropriate. Performance Objectives may be set at a specific level or may be expressed as relative to prior performance or to the
performance of one or more other entities or external indices and may be expressed in terms of a progression within a specified range. Performance Objectives may also be based upon individual Participant performance goals, as determined by the Plan
Administrator in its sole discretion. The Plan Administrator may at the time Performance Objectives are determined for a Fiscal Year, or at any time prior to the final determination of Awards in respect of that Fiscal Year, provide for the manner in
which performance will be measured against the Performance Objectives to reflect the impact of (i) any stock dividend or split, recapitalization, combination or exchange of shares or other similar changes in the Company’s stock,
(ii) specified corporate transactions (iii) special charges, (iv) changes in tax law or accounting standards required by generally accepted accounting principles, (v) changes in government reimbursement policies,
(vi) event(s) either not directly related to the operations of the Company or not within reasonable control of the Company’s management; and (vii) other extraordinary or nonrecurring events. 

In addition, and notwithstanding anything to the contrary contained herein, Awards may be based on the performance goals set forth herein or
on such other performance goals as determined by the Plan Administrator in its sole discretion. The Committee may also adjust, modify or amend the aforementioned business criteria. 

4.4    At any time after the commencement of a Fiscal Year for which Performance Objectives have been determined, but
prior to the close thereof, the Plan Administrator may, in its discretion, add Participants, decrease targets, or increase or add to an Award(s). 

  
 7 

 ARTICLE V 

PAYMENT OF PERFORMANCE INCENTIVE AWARDS 

5.1    Payment of Awards. Subject to Section 5.2 and such forfeitures of Awards and other conditions as are
provided in the Plan, the Awards made to Participants shall be paid as provided in this Section 5.1. As soon as practicable after the end of the Fiscal Year, the Plan Administrator shall determine the extent to which Awards have been earned on
the basis of the actual performance in relation to the Performance Objectives as established for that Fiscal Year. Once determined, an Award shall be paid to a Participant only to the extent that the Participant met the targets for his or her Award
as set forth in the Performance Criteria for his or her Award. Notwithstanding the foregoing, a lump sum discretionary Award may be paid to a Participant at any time during the Fiscal Year. No Awards shall be paid to a Participant unless and until
the Plan Administrator has determined that the Performance Objectives established with respect to the Participant have been achieved. Subject to the foregoing, Awards or Pro-Rata Awards shall be paid at such
time or times as are determined by the Plan Administrator; provided that, subject to Section 5.8, in no event shall the payment of any Awards or Pro-Rata Awards under the terms of the Plan be made to a
Participant or Beneficiary later than 21⁄2 months following the end of the Fiscal Year for which such Award or Pro-Rata
Award has been determined. 
 5.2    Payment of Deferred Bonus Awards. Subject to such other conditions as are
provided in the Plan, the Deferred Bonus Awards shall be paid as follows: 
 (a)    As soon as practicable after the end
of the Fiscal Year, the Plan Administrator shall determine the extent to which Awards designated as Deferred Bonus Awards have been earned on the basis of the actual performance in relation to the Performance Objective as established for that Fiscal
Year. Once determined, a Deferred Bonus Award shall be paid to a Participant only to the extent that the Participant met the targets for his or her Deferred Bonus Award as set forth in the Performance Criteria for his or her Deferred Bonus Award.
Subject to the foregoing, Deferred Bonus Awards shall be paid on such date or dates following the Fiscal Year in which such Deferred Bonus Award had been determined and shall be subject to such continued employment requirements as the Plan
Administrator shall determine at the time the Deferred Bonus Award is granted. 
 (b)    Notwithstanding the foregoing,
(i) if a Pro-Rata Deferred Bonus Award becomes payable pursuant to Section 5.8 hereof, then such Pro-Rata Deferred Bonus Award shall be paid to the Participant
or Beneficiary no later than 21⁄2 months following the end of the Fiscal Year for which such Deferred Bonus Award has been determined, and (ii) if a Qualifying
Termination occurs after the end of the Fiscal Year in respect of which a Deferred Bonus Award is earned, the Deferred Bonus Award shall be paid to the Participant or Beneficiary within 30 days after the later of (x) the date of such
termination, or (y) the date that the amount of the Deferred Bonus Award is determined pursuant to Section 5.2(a). 

(c)    If the short-term deferral exemption under Section 409A is unavailable, the Deferred Bonus Awards shall be
granted and administered in a manner that complies with Section 409A, including the requirement that a Participant’s election to defer payment of a Deferred Bonus Award shall be made prior to the year in which such Deferred Bonus Award is
earned. Payment of any Deferred Bonus Award shall be made only on a fixed date or dates or 

  
 8 

 
upon the occurrence of specified events permitted under Section 409A all of which shall be established at the time the Award is granted. Payment of Deferred Bonus Awards may not be further
deferred beyond the payment date or dates specified in the Award at the time it is granted and may not be accelerated except as may be permitted under Section 409A. 

5.3    The maximum amount that any individual Participant may receive relating to Awards made in respect of the
performance in any Fiscal Year may not exceed ten million dollars ($10,000,000). 
 5.4    There shall be deducted
from all payments of Awards any taxes required to be withheld by any government entity and paid over to any such government entity in respect of any such payment. Unless otherwise elected by the Participant, such deductions shall be at the
established withholding tax rate. The Plan Administrator may allow Participants to elect to have the deduction of taxes cover the amount of any applicable tax (the amount of withholding tax plus the incremental amount determined on the basis of the
highest marginal tax rate applicable to such Participant). 
 5.5    Any individual who becomes a Participant in the
Plan due to employment, transfer or promotion during a Fiscal Year shall be eligible to receive a partial Award based upon the Participant’s base salary for the Participant’s Participation Period and his or her level of achievement in
relation to Performance Objectives for the entire Fiscal Year or such shorter period established by the Plan Administrator. In no event, however, shall partial Awards be made to any Participant with a Participation Period in respect of any Fiscal
Year of less than three months, except for discretionary awards under Section 4.3(2)(r). 
 5.6    Awards may be
adjusted for partial year responsibility, multiple facility responsibility and reassignments of a duration of at least three consecutive months. 

5.7    Except as provided in Section 5.8, no Award shall be paid to a Participant who is not employed by the Company
on the last day of the Fiscal Year for which an Award is to be or was earned. 
 5.8    If a Participant’s
employment is terminated in a Qualifying Termination prior to the payment of an Award (including a Deferred Bonus Award), the Participant shall receive an Award (including a Deferred Bonus Award, if applicable) based upon his or her level of
achievement in relation to the Performance Objectives established for the entire Fiscal Year multiplied by a fraction, the numerator of which is the number of days in the Participation Period and the denominator of which is 365 (a “Pro-Rata Award”). If such termination occurs after the end of the applicable Fiscal Year but before the payment of the Award, such fraction shall be one (1).
Pro-Rata Awards (including Deferred Bonus Awards) payable pursuant to this Section 5.8 shall be paid in accordance with Sections 5.1 and 5.2, as applicable. Notwithstanding the foregoing, if a Participant
is a party to an agreement or is a participant in any other plan that provides for a pro-rata payment of any Award under this Plan, the application of this Section 5.8 shall not result in a duplication of
payment to the Participant under circumstances in which an Award is payable pursuant to this Section 5.8. 

  
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 5.9    Notwithstanding anything contained in the Plan to the contrary,
the Plan Administrator in its sole discretion may reduce the amount of any Award whose Performance Objectives are based on one or more of the “qualitative performance criteria” listed in Section 4.3(2) for any Participant to any
amount, including zero, prior to the end of the Fiscal Year for which such Award is earned. 
 5.10    Payment of each
Award to a Participant shall be subject to the following provisions and conditions: 
 (a)    No Participant shall have
any right or interest, whether vested or otherwise, in the Plan or in any Award thereunder, contingent or otherwise, unless and until all of the terms, conditions and provisions of the Plan and the Regulations that affect such Participant have been
satisfied. Nothing contained in the Plan or in the Regulations shall require the Company to segregate cash or other property for purposes of payment of Awards under the Plan. Neither the adoption of the Plan nor its operation shall in any way affect
the rights and power of the Company to dismiss and/or discharge any employee at any time. 
 (b)    No rights under the
Plan, contingent or otherwise, shall be assignable or subject to any encumbrance, pledge or charge of any nature. 
 ARTICLE VI 

MISCELLANEOUS 

6.1    By accepting any benefits under the Plan, each Participant shall be conclusively deemed to have indicated
acceptance and ratification of, and consent to, any action taken or decision made under the Plan by the Company, the Board, the Plan Administrator, the Committee or any other committee appointed by the Board. 

6.2    Any action taken or decision made by the Company, the Board, the Plan Administrator, the Committee, or any other
committee appointed by the Board in the exercise of this power shall be final, binding and conclusive upon the Company, the Participants, the Beneficiaries, and all other persons having any interest therein. 

6.3    The Board, the Plan Administrator, the Committee, or any other committee appointed by the Board may rely upon any
information supplied to them by any officer of the Company and may rely upon the advice of counsel in connection with the administration of the Plan and shall be fully protected in relying upon such information or advice. 

6.4    The Board may alter, amend, suspend or terminate the Plan; provided, however, that, except as permitted by the
Plan, no such alteration, amendment, suspension or termination shall impair or adversely alter any Awards theretofore granted under the Plan, except with the consent of the respective Participant. 

6.5    As illustrative of the limitations of liability of the Company, but not intended to be exhaustive thereof, nothing
in the Plan shall be construed to: 
 (a)    Give any person any right to participate in the Plan other than at the sole
discretion of the Plan Administrator; 

  
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 (b)    Give any person any rights whatsoever with respect to an Award
except as specifically provided in this Plan; 
 (c)    Limit in any way the right of the Company to terminate the
employment of any person at any time; or 
 (d)    Be evidence of any agreement or understanding, expressed or implied,
that the Company will employ any person at any particular rate of compensation or for any particular period of time. 

6.6    Except as to matters of federal law, the Plan and the rights of all persons claiming hereunder shall be construed
and determined in accordance with the laws of the State of Delaware without giving effect to conflicts of laws principles thereof. 

6.7    This Amended and Restated Plan will be effective for all Fiscal Years beginning with 2019 by action of the Board.

 6.8    The Plan and the granting of Awards shall be subject to all applicable federal and state laws, rules and
regulations, and to such approvals by any regulatory or governmental agency as may be required. 
 6.9    A
person’s rights and interests under the Plan, including any Award previously made to such person or any amounts payable under the Plan may not be assigned, pledged, or transferred, except in the event of the Participant’s death, to a
designated Beneficiary in accordance with the Plan, or in the absence of such designation, by will or the laws of descent or distribution. 

6.10    Nothing in the Plan or in any notice of any Award shall confer upon any person the right to continue in the
employment of the Company or any affiliate or affect the right of the Company or any affiliate to terminate the employment of any Participant. 

6.11    Nothing contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed to
create a trust of any kind or a fiduciary relationship between the Company and any Participant, Beneficiary or legal representative or any other person. To the extent that a person acquires a right to receive payment of an Award under the Plan, such
right shall be no greater than the right of an unsecured general creditor of the Company. All payments to be made hereunder shall be paid from the general funds of the Company and no special or separate fund shall be established and no segregation
of assets shall be made to assure payment of such amounts except as expressly set forth in the Plan. The Plan is not intended to be subject to the Employee Retirement Income Security Act of 1974, as amended. 

6.12    It is intended that payments under the Plan qualify as short-term deferrals exempt from the requirements of
Section 409A. In the event that any Award does not qualify for treatment as an exempt short-term deferral, it is intended that such amount will be paid in a manner that satisfies the requirements of Section 409A. The Plan and the terms of
any Award 

  
 11 

 
shall be interpreted and construed accordingly. To the extent that payment of any Award is contingent upon a Participant’s execution a release and the applicable time period within which a
release must be executed spans two taxable years, such Award shall be payable during the second taxable year. The Participant’s right to receive any installment payments pursuant to the Plan shall be treated as a right to receive a series of
separate and distinct payments. If a Participant is a “specified employee” for purposes of Section 409A, the payment upon a termination of employment of any Award which is subject to Section 409A shall not be paid until one day
after the date which is six (6) months from the date of termination. 
 6.13    In the event that any provision of
the Plan shall be considered illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining provisions of the Plan, but shall be fully severable, and the Plan shall be construed and enforced as if such illegal or
invalid provision had never been contained therein. 
 6.14    Awards granted under the Plan shall be subject to the
following: 
 (a)    Any Award granted pursuant to this Plan shall be subject to repayment or reimbursement by the
Participant to the Company (i) to the extent provided in the Company’s current “Clawback Policy,” as it may be amended from time to time, (ii) to the extent that Participant in the future becomes subject to any other
recoupment or clawback policy hereafter adopted by the Company, including any such policy (or amended version of the Company’s current Clawback Policy) adopted by the Company to comply with the requirements of any applicable laws, rules or
regulations, including pursuant to final SEC rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act, or (iii) to the extent provided under any applicable laws which impose mandatory recoupment, under circumstances set forth
in such applicable laws, including the Sarbanes-Oxley Act of 2002. In addition, without limiting the foregoing, pursuant to its general authority to determine the terms and conditions applicable to Awards granted under the Plan, the Plan
Administrator shall have the right to provide, in an agreement, or to require a Participant to agree by separate written or electronic instrument at or after grant, that all Awards will be subject to repayment or reimbursement to the extent set
forth in any recoupment or clawback provisions which may be included in any such agreement or separate instrument. 

(b)    Notwithstanding anything set forth in Section 6.14(a) above, in the event the Board determines that a
significant restatement of the Company’s financial results or other Company metrics for any of the three prior fiscal years for which audited financial statements have been prepared is required and (i) such restatement is the result of
fraud or misconduct and (ii) the Award amount would have been lower had the results or metrics been properly calculated, the Committee has the authority to obtain reimbursement from any Participant responsible for the fraud or willful
misconduct resulting in the restatement. Such reimbursement shall consist of any portion of any Award previously paid that is greater than it would have been if calculated based upon the restated financial results or metrics. 

  
 12

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