Document:

Separation Agreement between Exar Corporation and John Herzing

 Exhibit 10.1 
 July 30, 2007 
 Mr. John Herzing 
 Dear
John: 
 This letter sets forth the substance of your voluntary termination from Exar Corporation (the “Company”) in consideration of certain
compensation and benefits described below: 
  

	1.	General 

 Effective July 31, 2007 (the
“Termination Date”), you will resign as Vice President, Worldwide Sales, and your employment with the Company will end on that date. 
  

	2.	Employment Benefits 

  

	 	(a)	The Company will pay for your COBRA benefits from August 1, 2007 through October 31, 2007. 

  

	 	(b)	The COBRA benefits are limited to medical, dental and vision coverage for you. 

  

	3.	Compensation 

  

	 	(a)	Base Salary. In addition to your regular pay and accrued vacation through your Termination Date, you will receive a one-time payment of twelve (12) weeks of your base
pay, amounting to $55,384.62, subject to any applicable withholding taxes. 

  

	 	(b)	Stock Options. Any stock options or other stock awards that are vested as of your Termination Date may be exercised no later than October 31, 2007, which is three
(3) months after your Termination Date. 

  

	 	(c)	Other Compensation or Benefits. You acknowledge that, except as expressly provided in this Agreement, you will not receive from the Company any additional compensation
(including, but not limited to salary or bonuses, severance, stock, stock options, or other benefits) after the Termination Date. 

	4.	Expense Reimbursements 

 You agree that, within ten
(10) business days of the Termination Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Termination Date, if any, for which you seek reimbursement. The Company
will reimburse you for these expenses pursuant to its regular business practice. Pursuant to its regular business practice, the Company will reimburse you for documented business expenses incurred during the employment term, provided that these
expenses have been pre-approved by the President and CEO in writing. 
  

	5.	Return of Company Property 

 On the Termination
Date, you agree to return to the Company all Company documents (and all copies thereof) and other Company property that you have had in your possession at any time, including, but not limited to, Company files, notes, drawings, records, business
plans and forecasts, financial information, specifications, training materials, computer-recorded information, tangible property including, but not limited to, computers, credit cards, entry cards, identification badges and keys, and any materials
of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof). 
  

	6.	Proprietary Information Obligations 

 You
acknowledge your continuing obligations under your Proprietary Rights and Non-Disclosure Agreement attached hereto as Exhibit A. You agree not to use or disclose any confidential or proprietary information of the Company without prior written
authorization form a duly authorized representative of the Company. 
  

	7.	Non Solicitation 

 You agree that for one
(1) year following the Termination Date you will not, either directly or through others, (i) solicit or attempt to solicit any employee, consultant, or independent contractor of the Company in order to become an employee consultant or
independent contractor to or for any other person or entity, or (ii) solicit business from any of the Company’s or any of its subsidiaries’ customers and users on behalf of any business that directly competes with the Company or any
of its subsidiaries. 
  

	8.	Confidentiality 

 The provisions of this Agreement
will be held in strictest confidence by you and the Company and will not be publicized or disclosed in any manner whatsoever; provided, however, that (a) you may disclose this Agreement to your immediate family; (b) the parties may
disclose this Agreement in confidence to their respective attorneys, accountants, auditors, tax prepares, and financial advisors; (c) the Company may disclose this Agreement as necessary to fulfill standard or legally required corporate
reporting or disclosure requirements; and (d) the parties may disclose this Agreement insofar as such disclosure may be necessary to enforce its terms or as otherwise required by law. In particular, and without limitation, you will not disclose
the provisions of this Agreement to any current or former Company employee or any other Company personnel. 
  

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	9.	Release of Claims 

 In exchange for the
consideration under this Agreement to which you would not otherwise be entitled, you on behalf of yourself and your respective heirs, family members, executors and assigns hereby release, acquit and forever discharge the Company, and its past,
present and future officers, directors, agents, employees, attorneys, shareholder, investors, administrators, divisions, subsidiaries, parents, predecessor and successor corporations, assigns and affiliates, of and from, and agree not to sue or
otherwise institute or cause to be instituted any legal or administrative proceedings concerning any and all claims, liabilities, demands, causes of action, costs, expenses, attorneys’ fees, damages, indemnities and obligations of every kind
and nature, in law, equity or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to agreements, events, acts or conduct in any time prior to and including the execution date
hereof, including but not limited to: (i) any and all such claims and demands directly or indirectly arising our of or in any way connected with your employment with the Company or your transition to Special Advisor; (ii) claims or demands
related to salary, bonuses, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, sabbatical benefits, severance benefits, or any other form of compensation; and
(iii) claims pursuant to any federal, state, local law, statute or cause of action including, but not limited to, the federal Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991, as amended; the federal Age Discrimination in
Employment Act of 1967, as amended (“ADEA”); the federal Americans with Disabilities Act of 1990; the Fair Labor Standards Act, as amended; the Employee Retirement Income Security Act of 1974, as amended; the worker Adjustment and
Retraining Notification Act the California Fair Employment and Housing Act, as amended; Labor Code section 201, et seq. and section 970, et seq.; tort law; contract law; wrongful discharge; discrimination; fraud; defamation;
harassment; emotional distress; and breach of the implied covenant of good faith and fair dealing. 
  

	10.	ADEA Waiver 

 You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the ADEA, as amended. You also acknowledge that the consideration given for the waiver and release in the
preceding paragraph is in addition to anything of value to which you were already entitled. You further acknowledge that you have been advised by this writing, as required by the ADEA, that: (a) your waiver and release do not apply to any
rights or claims that may arise after the execution date of this Agreement; (b) you should consult with and attorney prior to executing this Agreement; (c) you have twenty-one (21) days to consider this Agreement (although you may
choose to voluntarily execute this Agreement earlier); (d) you have seven (7) days following the execution of this Agreement by the parties to revoke the Agreement; and (e) this Agreement will not be effective until the date upon
which the revocation period has expired, which will be the eighth (8th) day after this Agreement is executed by you (“Effective Date”).

  

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	11.	Waiver 

 In granting the release herein, you
acknowledge that you understand that you have read and understand Section 1542 of the California Civil Code, which reads as follows: 
 “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the
debtor.” 
 You hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of
similar effect with respect to the release of unknown or unsuspected claims that you may have against the Company. 
  

	12.	Non-Disparagement 

 You agree to refrain from making
any negative comments concerning the Company’s business, products or services, officers, employees and directors and to refrain from any, defamation, libel or slander of the Company and its respective officers, directors, employees, investors,
shareholders, administrators, affiliates, divisions, subsidiaries, predecessor and successor corporations, and assigns or tortuous interference with the contracts and relationships of the Company and its respective officers, directors, employees,
investors, shareholders, administrators, affiliates, divisions, subsidiaries, predecessor and successor corporations and assigns. 
  

	13.	No Pending or Future Lawsuits 

 You represent that
you have no lawsuits, claims or actions pending in your name, or on behalf of any other person or entity against the Company or any other person or entity referred to herein. You also represent that you do not intend to bring any claims on your
behalf or on behalf of any other person or entity against the Company or any other person or entity referred to herein. 
  

	14.	No Admission of Liability 

 You understand and
acknowledge that this Agreement constitutes a compromise and settlement of disputed claims. No action taken by the Company, either previously or in connection with this Agreement shall be deemed or construed to be (i) an admission of the truth
or falsity of any claims heretofore made or (ii) an acknowledgement or admission by the Company of any fault or liability whatsoever to either you or to any third party. 
  

	15.	Arbitration and Equitable Relief 

  

	 	(a)	 Except as provided in Section 15(d) below, you and the Company agree that to the extent permitted by law, any dispute or controversy arising out of,
relating to, 

  

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or in connection with this Agreement, or the interpretations, validity, construction, performance, breach or termination thereof will be settled by
arbitration to be held in the County of Santa Clara, California, in accordance with the National Rules for the Resolution of Employment Disputes then in effect of the American Arbitration Association (the “Rules”). The arbitrator may grant
injunctions or other relief in such dispute or controversy. The decision of the arbitrator will be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having
jurisdiction. 

  

	 	(b)	The arbitrator will apply California law to the merits of any dispute or claim (with the exception of its conflict of laws provisions). You hereby expressly consent to the personal
jurisdiction of the state and federal courts located in California for any action or proceeding arising from or relating to this Agreement and/or relating to any arbitration in which the parties are participants. 

  

	 	(c)	The Company will pay the direct costs and expenses of the arbitration. The Company and you each will pay your own counsel fees and expenses. 

  

	 	(d)	The Company or you may apply to any court of competent jurisdiction for a temporary restraining order, preliminary injunction, or other interim or conservatory relief, as necessary
to enforce the provisions of this Agreement, without breach of this arbitration agreement and without abridgement of the powers of the arbitrator. 

  

	 	(e)	You understand that nothing in this Section 15 modifies your at-will status. Either the Company or you can terminate the employment relationship at any time, with or without
cause. 

 YOU HAVE READ AND UNDERSTAND THIS SECTION 15, WHICH DISCUSSES ARBITRATION. YOU UNDERSTAND THAT BY SIGNING THIS AGREEMENT, YOU AGREE
TO THE EXTENT PERMITTED BY LAW, TO SUBMIT ANY FUTURE CLAIMS ARISING OUT OF, RELATING TO, OR IN CONNECTION WITH THIS AGREEMENT, OR THE INTERPRETATION, VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH, OR TERMINATION THEREOF TO BINDING ARBITRATION, AND
THAT THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF YOUR RIGHT TO A JURY TRIAL AND RELATES TO THE RESOLUTION OF ALL DISPUTES RELATING TO ALL ASPECTS OF THE EMPLOYER/EXECUTIVE RELATIONSHIP, INCLUDING BUT NOT LIMITED TO, THE FOLLOWING CLAIMS:

 ANY AND ALL CLAIMS FOR WRONGFUL DISCHARGE OF EMPLOYMENT; BREACH OF CONTRACT, BOTH EXPRESS AND IMPLIED; BREACH OF THE COVENANT OF GOOD FAITH AND FAIR
DEALING, BOTH EXPRESS AND IMPLIES; NEGLIGENT OR INTENTIONAL INFLICTION OF EMOTIONAL DISTRESS; INTENTIONAL INTERFERENCE WITH CONTRACT OR PROSPECTIVE ECONOMIC ADVANTAGE; AND DEFAMATION; 
  

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 ANY AND ALL CLAIMS FOR VIOLATION OF ANY FEDERAL STATE OR MUNICIPAL STATUTE, INCLUDING, BUT NOT LIMITED TO, THE AMERICANS
WITH DISABILITIES ACT OF 1990, THE FAIR LABOR STANDARDS ACT, AND ANY LAW OF ANY STATE; AND 
 ANY AND ALL CLAIMS ARISING OUT OF ANY OTHER LAWS AND
REGULATIONS RELATING TO EMPLOYMENT OR EMPLOYMENT DISCRIMINATION. 
  

	16.	Cooperation with Company 

 After the employment
term, you will cooperate fully with the Company in connection with any and all existing or future litigation, arbitrations, mediations or investigations brought by or against the Company or any of its affiliates in which the Company reasonably deems
your cooperation necessary or desirable. You agree to provide advice, assistance and information, including offering and explaining evidence, providing sworn statements, participating in discovery and trial preparation and testimony as may
reasonably be deemed necessary or desirable by the Company relating to its position in any such legal proceedings. You will act in good faith to furnish the information and cooperation required by this Section 16 and the Company will act in
good faith so that the requirement to furnish such information and cooperation does not create and undue hardship for you. The Company will reimburse your for reasonable out-of-pocket expenses incurred by you as a result of your cooperation, within
ten (10) days of the presentation of appropriate documentation thereof, in accordance with the Company’s standard reimbursement policies and procedures. 
  

	17.	Entire Agreement 

 This Agreement, including Exhibit
A, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to the subject matter hereof. It supersedes any and all agreements entered into by and between you and the Company with
respect to your employment relationship with the Company. It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein. It may not be modified except in a writing signed by you
and a duly authorized officer of the Company. Each party has carefully read this Agreement, has been afforded the opportunity to be advised of its meaning and consequences by his or its perspective attorneys, and signed the same of his or its own
free will. 
  

	18.	No Representations 

 You represent that you have had
the opportunity to consult with an attorney, and have carefully read and understood the scope and effect of the provisions of this Agreement. Neither party has relied upon any representations or statements made by the other party hereto which are
not specifically set forth in this Agreement. 
  

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	19.	Severability 

 In the event that any provision
hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision. 
  

	20.	No Oral Modification 

 This Agreement may only be
amended in writing signed by you and the President and CEO. 
  

	21.	Counterparts 

 This Agreement may be executed in
counterparts, and each counterpart shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. 
  

	22.	Successors and Assigns 

 This Agreement will bind
the heirs, personal representatives, successors and assigns of each party, and will inure to the benefit of each party, its heirs, personal representatives, successors and assigns. 
  

	23.	Applicable Law 

 This Agreement will be deemed to
have been entered into and will be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California. 
 If this Agreement is acceptable to you, please sign below and on Exhibit A and return the originals of both to me. 
 Sincerely, 
  

			
	Exar Corporation
		
	By:	 	 /s/ Richard L. Leza

	Name:	 	Richard L. Leza
	Title:	 	Interim President and CEO
	
	UNDERSTOOD AND AGREED:
	
	 /s/ John Herzing

	John Herzing
		
	Date:	 	July 30, 2007

  

 7Ducommun, Inc. 2007 Stock Incentive Plan

 Exhibit 4.4 
 DUCOMMUN INCORPORATED 
 2007 STOCK INCENTIVE PLAN 
 Section 1. PURPOSE OF PLAN 
 The purpose of
the 2007 Stock Incentive Plan (the “Plan”) of Ducommun Incorporated, a Delaware corporation (the “Corporation”), is to enable the Corporation and its subsidiaries to attract, retain and motivate their employees and nonemployee
directors by providing for or increasing the proprietary interests of such persons in the Corporation. 
 Section 2. PERSONS ELIGIBLE UNDER PLAN

 Any person who is a current or prospective employee or a nonemployee director of the Corporation or any of its subsidiaries (a
“Participant”) shall be eligible to be considered for the grant of Awards (as hereinafter defined) hereunder. 
 Section 3. AWARDS

 (a) The Board of Directors and/or the Committee (as hereinafter defined), on behalf of the Corporation, is authorized under this Plan
to enter into any type of arrangement with a Participant that is not inconsistent with the provisions of this Plan and that, by its terms, involves or might involve the issuance of (i) shares of common stock, par value $.01 per share, of the
Corporation (“Common Shares”) or (ii) a Derivative Security (as such term is defined in Rule 16a-1 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as such Rule may be amended from time
to time) with an exercise or conversion privilege at a price related to the Common Shares or with a value derived from the value of the Common Shares. The entering into of any such arrangement is referred to herein as the “grant” of an
“Award.” 
 (b) Awards are not restricted to any specified form or structure and may include, without limitation, sales or bonuses
of stock, restricted stock, restricted stock units, stock options, stock purchase warrants, other rights to acquire stock, securities convertible into or redeemable for stock, stock appreciation rights, phantom stock, dividend equivalents,
performance units or performance shares, and an Award may consist of one such security or benefit, or two or more of them in tandem in the alternative. 
 (c) Common Shares may be issued pursuant to an Award for any lawful consideration as determined by the Board of Directors and/or the Committee, including, without limitation, services rendered by the recipient of such
Award. 
 (d) Subject to the provisions of this Plan, the Board of Directors and/or the Committee, in its sole and absolute discretion, shall
determine all of the terms and conditions of each Award granted under this Plan, which terms and conditions may include, among other things: 

 (i) a provision permitting the recipient of such Award, including any recipient who is a
director or officer of the Corporation, to pay the purchase price of the Common Shares or other property issuable pursuant to such Award, or such recipient’s tax withholding obligation with respect to such issuance, in whole or in part, by any
one or more of the following: 
 (A) the delivery of previously owned shares of capital stock of the Corporation (including
“pyramiding”) or other property, provided that the Corporation is not then prohibited from purchasing or acquiring shares of its capital stock or such other property, 
 (B) a reduction in the amount of Common Shares or other property otherwise issuable pursuant to such Award, or 
 (C) the delivery of a promissory note, the terms and conditions of which shall be determined by the Committee. 
 (ii) a provision conditioning or accelerating the receipt of benefits pursuant to such Award, either automatically or in the discretion
of the Board of Directors and/or the Committee, upon the occurrence of specified events, including, without limitation, a change of control of the Corporation, an acquisition of a specified percentage of the voting power of the Corporation, the
dissolution or liquidation of the Corporation, a sale of substantially all of the property and assets of the Corporation or an event of the type described in Section 7 hereof; or 
 (iii) a provision required in order for such Award to qualify as an incentive stock option under Section 422 of the Internal Revenue
Code (an “Incentive Stock Option”), provided that the recipient of such Award is eligible under the Internal Revenue Code to receive an Incentive Stock Option. 
 (e) Notwithstanding anything herein to the contrary, with respect to stock options and stock appreciation rights issued under the Plan, the Board of Directors and/or the Committee, in its sole and absolute discretion,
shall determine the exercise or base price per Common Share subject to such Awards, which, in no event will be less than the Fair Market Value (as defined below) of the Common Shares on the date of grant; provided, however, that the exercise or base
price per Common Share with respect to a stock option or stock appreciation right that is granted in connection with a merger or other acquisition as a substitute or replacement award for options and/or stock appreciation rights held by employees or
directors of the acquired entity may be less than 100% of the Fair Market Value of the Common Shares on the date such Award is granted if such exercise or base price is based on an adjustment method or formula set forth in the terms of the awards
held by such individuals or in the terms of the agreement providing for such merger or other acquisition. For purposes of the Plan, the term “Fair Market Value” means, as of any given date, the closing sales price on such date (or, if
there are no reported sales on such date, on the last date prior to such date on which there were sales) of the Common Shares on the New York Stock Exchange Composite Tape. 

 (f) The Board of Directors and/or the Committee, in its sole and absolute discretion, shall determine the
term of each stock option and stock appreciation right awarded under the Plan, which in no case shall exceed a period of ten (10) years from the date of grant. 
 (g) Other than in connection with a change in the Corporation’s capitalization (as described in Section 7) the exercise or base price of a stock option or stock appreciation right may not be reduced without
shareholder approval (including canceling previously granted Awards and regranting them with a lower exercise or base price). 
 (h)
Notwithstanding anything herein to the contrary, the grant, issuance, retention, vesting and/or settlement of restricted stock, restricted stock unit, performance share, performance unit and other similar Awards will occur when and in such
installments and/or pursuant to the achievement of such performance criteria, in each case, as the Board of Directors and/or the Committee, in its sole and absolute discretion, shall determine. In addition, the performance criteria for any such
Awards (or portions thereof) that is intended to satisfy the requirements for “performance-based compensation” under Section 162(m) of the Code will be a measure based on one or more Qualifying Performance Criteria selected by the
Committee and specified when such Award is granted. 
 (i) For purposes of the Plan, the term “Qualifying Performance Criteria”
shall mean any one or more of the following performance criteria, either individually, alternatively or in any combination, applied to either the Corporation as a whole or to a business unit or subsidiary, either individually, alternatively or in
any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, in each case as specified by the
Committee: earnings per share (diluted and/or basic), revenue, net profit after tax, gross profit, operating profit, earnings before interest, taxes, depreciation and amortization (EBITDA), earnings before interest and taxes (EBIT), cash flow, asset
quality, stock price performance, unit volume, return on equity, change in working capital, return on capital or shareholder return. To the extent consistent with Section 162(m) of the Code, the Committee (A) shall appropriately adjust any
evaluation of performance under a Qualifying Performance Criteria to eliminate the effects of charges for restructurings, discontinued operations, extraordinary items and all items of gain, loss or expense determined to be extraordinary or unusual
in nature or related to the disposal of a segment of a business or related to a change in accounting principle all as determined in accordance with standards established by opinion No. 30 of the Accounting Principles Board (APA Opinion
No. 30) or other applicable or successor accounting provisions, as well as the cumulative effect of accounting changes, in each case as determined in accordance with generally accepted accounting principles or identified in the
Corporation’s financial statements, notes to the financial statements and/or in management’s discussion and analysis of financial condition and results of operations appearing in the Corporation’s annual report to shareholders for the
applicable year, and (B) may appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (i) asset write-downs,
(ii) litigation, claims, judgments or settlements, (iii) the effect of changes in tax law or other such laws or provisions affecting reported results, (iv) accruals for reorganization and restructuring programs and (v) accruals
of any amounts for payment under this Plan or any other compensation arrangement maintained by the Corporation. 

 Section 4. STOCK SUBJECT TO PLAN 
 (a) The aggregate number of Common Shares issued and issuable pursuant to all Awards granted under this Plan shall not exceed 600,000, subject to
adjustment as provided in Section 7 hereof; provided however, that no more than 200,000 of such Common Shares may be issued pursuant to Awards other than stock options and stock appreciation rights. 
 (b) For purposes of Section 4(a) hereof, the aggregate number of Common Shares issued under this Plan at any time shall equal only the number of
Common Shares actually issued upon exercise or settlement of an Award. Notwithstanding the foregoing, Common Shares subject to an Award under the Plan may not again be made available for issuance under the Plan if such Common Shares are:
(i) Common Shares that were subject to a stock-settled stock appreciation right and were not issued upon the net settlement or net exercise of such stock appreciation right, (ii) Common Shares used to pay the exercise or purchase price of
a stock option or other Award, (iii) Common Shares delivered to or withheld by the Corporation to pay the withholding taxes related a stock option or stock appreciation right, or (iv) Common Shares repurchased on the open market with the
proceeds of a stock option exercise. Common Shares subject to Awards that have been canceled, expired, forfeited or otherwise not issued under an Award and Common Shares subject to Awards settled in cash shall not count as Common Shares issued under
this Plan. 
 (c) The aggregate number of Common Shares subject to Awards under this Plan during any calendar year to any one Participant
shall not exceed 600,000. 
 Section 5. DURATION OF PLAN 
 Awards shall not be granted under this Plan after March 20, 2017. Although Common Shares may be issued after March 20, 2017 pursuant to Awards granted prior to such date, no Common Shares shall be issued
under this Plan after March 20, 2027. 
 Section 6. ADMINISTRATION OF PLAN 
 (a) This Plan shall be administered by the Compensation Committee of the Board of Directors of the Corporation (the “Committee”), or, in the
absence of a Committee, the Board of Directors itself. Any power of the Committee may also be exercised by the Board of Directors, except to the extent that the grant or exercise of such authority would cause any Award or transaction to become
subject to (or lose an exemption under) the short-swing profit recovery provisions of Section 16 of the Securities Exchange Act of 1934 or cause an Award otherwise intended to qualify as performance-based compensation under Section 162(m)
of the Code not to qualify for such treatment. To the extent that any permitted action taken by the Board of Directors conflicts with action taken by the Committee, the Board of Directors action shall control. The Committee may by resolution or
written policy authorize one or more officers of the Corporation to perform any or all things that the Committee is authorized and empowered to do or perform under 

 
the Plan, and for all purposes under this Plan, such officer or officers shall be treated as the Committee; provided, however, that the resolution or policy
so authorizing such officer or officers shall specify that the total number of Awards (if any) such officer or officers may award pursuant to such delegated authority shall not exceed the annual allotment of shares approved by the Committee, and any
such Award shall be subject to the form of award agreement theretofore approved by the Committee. No such officer shall designate himself or herself as a recipient of any Awards granted under authority delegated to such officer. In addition, the
Committee may delegate any or all aspects of the day-to-day administration of the Plan to one or more officers or employees of the Corporation or any subsidiary, and/or to one or more agents. 
 (b) Subject to the provisions of this Plan, the Board of Directors and/or the Committee shall be authorized and empowered to do all things necessary or
desirable in connection with the administration of this Plan, including, without limitation, the following: 
 (i) adopt,
amend and rescind rules and regulations relating to this Plan; 
 (ii) determine which persons are Participants and to which
of such Participants if any, Awards shall be granted hereunder; 
 (iii) grant Awards to Participants and determine the terms
and conditions thereof, including the number of Common Shares issuable pursuant thereto; 
 (iv) determine the extent to
which adjustments are required pursuant to Section 7 hereof; 
 (v) interpret and construe this Plan and the terms and
conditions of all Awards granted hereunder; and 
 (vi) to make all other determinations deemed necessary or advisable for
the administration of this Plan. 
 Section 7. ADJUSTMENTS 
 If the outstanding securities of the class then subject to this Plan are increased, decreased or exchanged for or converted into cash, property or a different number or kind of securities, or if cash, property or
securities are distributed in respect of such outstanding securities, in either case as a result of a reorganization, merger, consolidation, recapitalization, restructuring, reclassification, dividend (other than a regular, quarterly cash dividend)
or other distribution, stock split, reverse stock split or the like, or if substantially all of the property and assets of the Corporation are sold, then, unless the terms of such transaction shall provide otherwise, the Board of Directors and/or
the Committee shall make appropriate and proportionate adjustments in (a) the number and type of, and exercise price for, shares or other securities or cash or other property that may be acquired pursuant to Incentive Stock Options and other
Awards theretofore granted under this Plan, (b) the maximum number and type of shares or other securities that may be issued pursuant to Incentive Stock Options and other Awards thereafter granted under this Plan, and (c) the number and
type of shares or other securities subject to the individual limits set forth in Section 4 of this Plan. 

 Section 8. AMENDMENT AND TERMINATION OF PLAN 
 The Board of Directors may amend or terminate this Plan at any time and in any manner, provided, however, that no such amendment or termination shall
deprive the recipient of any Award theretofore granted under this Plan, without the consent of such recipient, of any of his or her rights thereunder or with respect thereto. In addition, the Committee may correct any defect, supply any omission, or
reconcile any inconsistency in any award agreement in the manner and to the extent it shall deem desirable to effectuate the purposes of the Plan and the related Award. 
 Section 9. EFFECTIVE DATE OF PLAN 
 This Plan shall be effective as of March 20, 2007
provided, however, that no Common Shares may be issued under this Plan until it has been approved, directly or indirectly, by the affirmative votes of the holders of a majority of the securities of the Corporation present, or represented, and
entitled to vote at a meeting duly held in accordance with the laws of the State of Delaware. 
 Section 10. LEGAL REQUIREMENTS 

(a) No Common Shares issuable pursuant to an Award shall be issued or delivered unless and until, in the opinion of counsel for the Corporation, all
applicable requirements of federal, state and other securities laws, and the regulations promulgated thereunder, and any applicable listing requirements of any stock exchange on which shares of the same class are then listed, shall have been fully
complied with. The Corporation shall not be required to register in a Participant’s name or deliver any Common Shares prior to the completion of any registration or qualification of such shares under any foreign, federal, state or local law or
any ruling or regulation of any government body which the Committee shall determine to be necessary or advisable. To the extent the Corporation is unable to or the Committee deems it infeasible to obtain authority from any regulatory body having
jurisdiction, which authority is deemed by the Corporation’s counsel to be necessary to the lawful issuance and sale of any Common Shares hereunder, the Corporation and its subsidiaries shall be relieved of any liability with respect to the
failure to issue or sell such Common Shares as to which such requisite authority shall not have been obtained. No Award shall be exercisable and no Common Shares shall be issued and/or transferable under any other Award unless a registration
statement with respect to the Common Shares underlying such Award is effective and current or the Corporation has determined that such registration is unnecessary. 
 (b) It is the Corporation’s intent that the Plan shall comply in all respects with Rule 16b-3 promulgated under the Exchange Act, as such Rule may be amended from time to time. If any provision of the Plan is
found not to be in compliance with Rule 16b-3 of the Exchange Act, such provision shall be null and void. 

 (c) The Committee may provide that the Common Shares issued upon exercise of an Award or otherwise
subject to or issued under an Award shall be subject to such further agreements, restrictions, conditions or limitations as the Committee in its discretion may specify prior to the exercise of such Award or the grant, vesting or settlement of such
Award, including without limitation, conditions on vesting or transferability, forfeiture or repurchase provisions and method of payment for the Common Shares issued upon exercise, vesting or settlement of such Award (including the actual or
constructive surrender of Common Shares already owned by the Participant) or payment of taxes arising in connection with an Award. Without limiting the foregoing, such restrictions may address the timing and manner of any resales by the Participant
or other subsequent transfers by the Participant of any Common Shares issued under an Award, including without limitation (i) restrictions under an insider trading policy or pursuant to applicable law, (ii) restrictions designed to delay
and/or coordinate the timing and manner of sales by Participant and holders of other Corporation equity compensation arrangements, (iii) restrictions as to the use of a specified brokerage firm for such resales or other transfers and
(iv) provisions requiring Shares to be sold on the open market or to the Corporation in order to satisfy tax withholding or other obligations.

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