Document:

Exhibit

Exhibit 10.21

EXECUTIVE EMPLOYMENT AGREEMENT

I, David Hargraves, hereby agree to be employed by Premier Healthcare Solutions, Inc., a Delaware corporation with its principal places of business in Charlotte, North Carolina, Washington, D.C., and Ft. Lauderdale, Florida (“Premier” or the “Company”), and Premier hereby agrees to employ me, subject to the following terms and conditions.

		
	1.
	EMPLOYMENT

1.1    Job Duties. I agree to devote my full professional time, attention and best efforts to the performance of my employment duties with Premier and/or its Related Companies (as defined in Section 6.2). I shall perform the duties and responsibilities customary to my position(s) with Premier and/or its Related Companies and as assigned to me from time to time. Effective beginning July 1, 2017 (the “Effective Date”), my position with Premier shall be as Senior Vice President, Supply Chain Services.

1.2    Salary and General Benefits. During my employment at Premier effective beginning as of the Effective Date, Premier will: (a) compensate me for my services at a base rate determined by Premier from time to time, and (b) allow me to participate in the deferred compensation, other retirement plans, and employee benefit plans from time to time in effect generally for Premier or a “Related Company’s” (as defined in Section 6.2) similarly situated employees, subject to the terms and conditions of such plans and as they may be instituted, modified or terminated from time to time. My initial base salary effective beginning as of the Effective Date shall be $17,708.33 per semi-monthly pay period (equivalent to $425,000.00 annually), less applicable withholdings. If the base salary is increased, such increased amount shall thereafter become the “base salary” under this Agreement.

1.3    Annual Incentive Plan. During my employment with Premier effective beginning as of the Effective Date, I shall participate in any annual incentive plan sponsored by Premier or a “Related Company” (as defined in Section 6.2) (the “Annual Plan”) applicable to me or other similarly situated senior executive level employees, in accordance with the terms and conditions of such Annual Plans as they may be established, modified, changed, replaced or terminated from time to time. My target incentive opportunity in the Annual Plan for FY 2018 (July 1, 2017 - June 30, 2018) will be 50% of my plan year earnings as defined in the Annual Plan.

1.4    Equity.    As additional consideration for entering into this Agreement, during my employment with Premier effective beginning as of the Effective Date, and provided I sign the applicable award agreements within the time period required and am employed by Premier at the time of related equity awards, I shall be eligible to participate in the Premier, Inc. Equity Incentive Plan and any other equity-based or cash-based long-term incentive compensation plan applicable to me or other similarly situated senior executive level employees in accordance with terms and conditions of such plans as they may be established, modified, changed, replaced or terminated from time to time. In connection with such equity participation, and provided the conditions outlined above in this Section 1.4 are met, Premier will recommend to the Compensation Committee of the Board of Directors of Premier, Inc. (the “Compensation Committee”) in August 2017 that I receive a grant of Premier, Inc. equity with an initial grant value equal to $637,500.00 of my initial annual base salary, equal to 150% of your initial base salary set forth in Section 1.2.

 The types of equity to be granted will be consistent with those approved by the Compensation Committee, and may include restricted stock unit award shares, target performance shares, non-qualified stock options or other forms of equity specified in the Premier, Inc. Equity Incentive Plan, or any combination thereof. All such restricted stock units, target performance shares and stock options will vest and be awarded / issued in accordance with the terms of the applicable award agreements and the Premier, Inc. Equity incentive Plan, as such plans and award agreements may be established, modified, changed, replaced or terminated from time to time. Further, I understand and agree that any additional future grants of equity under the Premier, Inc. Equity Incentive Plan are subject to the sole discretion and approval of Premier management and Compensation Committee, such that any future program participation and/or grant amounts may vary from year to year.

1.5    Term. I agree that my employment with Premier shall be “at-will”, such that I may resign at any time for any reason and Premier may terminate my employment at any time for any reason, subject to my and Premier’s post-employment rights and obligations under this Agreement. The at-will nature of my employment may be altered only be a written agreement signed by a duly authorized Premier official. In addition, notwithstanding the provisions of this Section 1.5 or Section 2 below, I agree that upon the termination or end of my employment with Premier for any reason, I shall resign and do resign from all 

positions as an officer, director and employee of Premier and Premier’s Related Companies (as defined in Section 6.2), with such resignations to be effective upon the termination or end of my employment with Premier.

		
	2.
	SEVERANCE PROTECTIONS

2.1    Severance Pay. If my employment with Premier under this Agreement ends at any time due to a Termination Without Cause (as defined below), then Premier will provide me with 12 months of my then current base salary as severance (the “Severance Pay”), subject to the terms in this Section 2. In order to be eligible for such Severance Pay, I must sign within 45 days of receipt from Premier and not revoke a full and general release (the “Release”) of any and all claims that I have or may have against Premier, its Related Companies (as defined in Section 6.2) and such entities’ past and then current officers, directors, shareholders, owners, members, agents and employees relating to all matters, to be prepared by Premier at that time. In addition, if I violate any of my post-employment obligations under this Agreement in Sections 4-6, then my right to any Severance Pay shall immediately cease and be forfeited.

2.2    Termination Without Cause.  For purposes of this Agreement, “Termination Without Cause” means any termination of my employment by Premier for any reason other than retirement, early retirement, death, “Disability” or “Termination for Just Cause”. In addition, my resignation shall be deemed a Termination Without Cause by Premier if I resign my employment with Premier and all its Related Companies (as defined in Section 6.2) within twenty-four (24) months following a “Change in Control” (as defined below) due to the following events without my written consent:

(a)a material reduction in my position, responsibilities or status, or a change in my title resulting in a material reduction in my responsibilities or position with Premier, but excluding for this purpose: (i) any suspensions, removals, duty reassignments, duty limitations or other actions set forth and allowed in Section 2.3; and (ii) any such reductions or changes made in good faith to conform with applicable law or generally accepted industry standards for my position;

(b)a reduction in my base salary (unless such percentage deduction is effectively made across the board for all other senior executives of Premier);

(c)the relocation of me to a location outside a fifty (50) mile radius of my primary office location on the date of this Agreement (Charlotte, NC); provided, however that relocation of me to Premier’s current or future headquarters location (with or without my consent) shall not constitute a resignation by me that can be deemed a Termination Without Cause; or

(d)a failure of the Company to obtain the assumption in writing of its obligations under this Agreement by any successor to all or substantially all of the assets of the Company within 30 days after a merger, consolidation, sale or similar transaction.

For purposes of this Agreement, a “Change in Control” shall have the meaning set forth in Section 13.3 (or subsequent applicable sections, if and as later amended) of the Premier, Inc. Equity Incentive Plan, as it may be established, modified, changed or replaced from time to time.

Premier and I further agree that for my resignation to constitute Termination Without Cause, in addition to providing at least ninety (90) days advance written notice of resignation to Premier, I must provide written notice to the President and Chief Executive Officer of Premier (the “Company CEO”) of my intent to resign within ninety (90) days of one of the triggering events outlined in subsections (a) - (d) of this provision. Further, Termination Without Cause shall not mean or include resignation by me for subsections (a) - (d) of this provision for any isolated, insubstantial or inadvertent reason not taken in bad faith if cured or remedied promptly by Premier, if such cure is possible, within no more than thirty (30) calendar days of receiving my notice.

2.3    Termination For Just Cause.    For purposes of this Agreement, “Termination for Just Cause” means termination of my employment by Premier as the result of: (a) commission or omission of any act of dishonesty, embezzlement, theft, misappropriation or breach of fiduciary duty by me in connection with my employment with Premier; (b) any conviction, guilty plea or plea of nolo contendere by me for any felony, a misdemeanor in which fraud and dishonesty is a material element, or a crime of moral turpitude, that is likely to result in incarceration if later sentenced (if the Company CEO or Chair of the Board of Directors of Premier, Inc. (the “Board Chair”)) deem in his or her absolute discretion that such conviction or plea may have a significant adverse effect upon Premier or upon my ability to perform under this Agreement); (c) willful action or willful inaction with respect to my performance of my employment duties that constitutes a violation of law or governmental regulations 

or that causes Premier or its Related Companies (as defined in Section 6.2) or affiliated entities to violate such law or regulation;
(a)a material breach of any securities or other law or regulation or any Premier or Related Company policy governing inappropriate disclosures or “tipping” related to (or the trading or dealing of) securities, stock or investments; (e) failure to reasonably cooperate or interference with a Premier-related investigation; (f) willful violation by me of Premier’s or its Related Companies’ lawful material policies, rules and procedures, including but not limited to Premier and its Related Companies’ Code of Conduct and Conflict of Interest policies; (g) the regulatory, governmental or administrative suspension, removal or prohibition of me as defined in this Section below; (h) willful misconduct, willful insubordination or willful refusal or unwillingness to carry out or follow specific lawful, reasonable directives, duties or assignments established or given by the Company CEO or the Board of Directors of Premier, Inc. (the “Board”) from time to time in accordance with this Agreement; (i) willful inattention to or dereliction of duty by me with respect to the business affairs of Premier or its Related Companies to which I am assigned material responsibilities or duties that is materially harmful to the business or reputation of Premier; (j) the breach of or failure to perform the obligations set forth in Sections 3 and/or 5-7 of this Agreement by me; (k) the prospective breach of the obligations set forth in Sections 3 and/or 5-7 of this Agreement by me; or (l) the breach or prospective breach or failure to perform the obligations set forth in Section 4 of this Agreement that is either willful or materially harmful to the business or reputation of Premier.

(i)Premier and I, however, agree that “Termination For Just Cause” shall not mean or include termination of my employment by Premier pursuant to subsection (i) or (k) as a result of an isolated, insubstantial and inadvertent action not taken by me in bad faith and which is remedied promptly by me, if such cure is possible, within no more than thirty (30) days after receipt of notice from the Company CEO or Board Chair or their authorized agents of such performance issue(s).  Premier and I further agree that “Termination for Just Cause” shall not mean or include termination of my employment by Premier pursuant to subsections (j) or (l) as result of an isolated, insubstantial and inadvertent action not taken by me in bad faith and which is remedied promptly by me, if such cure is possible, within no more than ten (10) days after receipt of notice from the Company CEO or Board Chair or their authorized agents of such performance issue(s).

(ii)Premier and I agree that my general failure to meet the performance objectives, milestones and goals established or given by the Company CEO or the Board from time to time shall not constitute grounds for “Termination for Just Cause”. Further, for purposes of this definition only, no act or failure to act by me shall be deemed “willful” if: (A) done or omitted to be done by me in good faith and with the reasonable belief that my act or omission was in the best interest of Premier and consistent with Premier and its Related Companies’ policies and applicable law; (B) based on and consistent with instructions pursuant to a resolution duly adopted by the Board; or (C) based on and consistent with the advice of Premier counsel.

(iii)Notwithstanding the above and Section 2.2, Premier and I also acknowledge and agree that:

(A)If I am suspended and/or temporarily prohibited from participating in the conduct of the affairs of Premier and/or its Related Companies or affiliated entities by a regulatory, governmental or administrative notice served under federal or state law, the obligations of Premier under this Agreement shall be suspended as of the date of service of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed or withdrawn, Premier may in its discretion, upon approval by the Board, pay me all or part of the compensation withheld while its contract obligations were suspended and/or reinstate in whole or in part any of its obligations that were suspended. My vested rights shall not otherwise be affected by this provision.

(B)If I am permanently removed and/or prohibited from participating in the conduct of the affairs of Premier and/or its Related Companies or affiliated entities by applicable federal, state or other regulatory, governmental or administrative order or action, all obligations of Premier under this Agreement shall terminate as of the effective date of the order, but vested rights of the parties hereto shall not be affected.

(iv)In addition, Premier and I agree that without expressly or constructively terminating this Agreement under this Section 2.3 or Section 2.2, Premier may place me on temporary leave with pay, temporarily exclude me from any premises of Premier, its Related Companies and affiliated entities and/or temporarily reassign my duties with Premier and/or its Related Companies during any pending Premier investigation or disciplinary action involving me and/or my potential “Termination for Just Cause”. Premier and I further agree such authority shall be invoked only in exceptional circumstances when the Company CEO and General Counsel determine that such action is in the best interests of the Company.

2.4    Disability. “Disability” means my inability to perform the essential functions and duties of my position with Premier,  with or without reasonable  accommodation, by reason  of any medically determinable physical or mental impairment that can be expected to result in death or that is to last or can be expected to last for a continuous period of not less than twelve 

months, as determined under the long-term disability plan sponsored by Premier or a Related Company (as defined in Section 6.2) in which I participate.

Premier and I further agree that without expressly or constructively terminating this Agreement under this Section or Sections 2.1-2.3, Premier may designate another employee to act in my place during any period of my Disability that extends over ninety (90) consecutive calendar days or an aggregate of ninety (90) calendar days during any three hundred and sixty five (365) consecutive calendar day period. Notwithstanding whether any such designation is made, I shall continue to receive my full base salary and other compensation, incentives and benefits under this Agreement (offset by any Company-paid short-term disability and/or long-term disability plan payments) during any period of Disability during my employment with Premier.

2.5    Severance Details. Any Severance Pay shall: (a) be at the base salary rate in effect at the time of my Termination Without Cause, (b) be paid over time in the form of salary continuation for the 12 month period following the end of my employment with Premier in accordance with Premier’s regular payroll practices, and (c) be less applicable withholdings.  Except as otherwise provided in Section 8.3(c) of this Agreement, and contingent on my execution and non-revocation of a release as described in Section 2.1, the first installment of the Severance Pay will be on the sixtieth (60th) day following the effective date of my Termination Without Cause and will include Severance Pay for the period from the end of my employment with Premier through the first installment payment date. The remaining installments will continue thereafter for the remainder of the 12 month period following the end of my employment with Premier.

In the event of any termination of my employment entitling me to any Severance Pay under this Agreement, and provided I abided by Section 3 and continue to abide by the non-competition, non-interference, confidentiality and other requirements set forth in Sections 4-6, I shall be under no obligation to seek other employment and there shall be no offset against amounts due me under this Agreement on account of any compensation attributable to any subsequent employment that I may obtain.

3.    CONFLICTS OF INTEREST

3.1    Conflicts of Interest. During my employment with Premier, I shall not: (a) engage in any outside business activity without written authorization from my supervisor at Premier; (b) in any way compete with Premier; or (c) engage in any conduct intended to or reasonably expected to harm the interests of Premier. I also agree to comply with the terms of Premier’s Code of Conduct and Conflict of Interest policies, including but not limited to all terms relating to the divestiture or transfer to a blind trust of any equity interest that I may hold in participating vendors, as defined in such policies. Notwithstanding the foregoing, I may engage in personal investment activities and charitable work that do not interfere with my duties for Premier and do not violate Premier’s Code of Conduct or Conflict of Interest policies.

4.    CONFIDENTIAL INFORMATION AND INTELLECTUAL PROPERTY

4.1    Confidentiality.    Except to the extent the use or disclosure of any Confidential Information (as defined below) is required to carry out my assigned duties with Premier, I agree that during my employment with Premier under this Agreement and for a period of 5 years thereafter, I will not: (a) disclose any Confidential Information to any person not employed by Premier; or (b) use for myself or for any other person or entity any Confidential Information. This provision, however, shall not preclude me from: (i) the use or disclosure of information known generally to the public (other than as a
result of my violation of this Agreement); or (ii) any disclosure required by law or court order, by any governmental entity having regulatory authority over the business of the Company, or by any administrative or legislative body (including a committee thereof) with jurisdiction to order me to divulge, disclose or make accessible such information, provided I provide Premier prompt written notice of any potential disclosure under this subsection (ii) within forty-eight (48) hours of my receipt of the request for disclosure or my election to disclose such information under this subsection (ii), whichever is earliest, to the fullest extent permitted by applicable law.

4.2    Confidential Information. “Confidential Information” means all confidential or proprietary information furnished to, obtained by or created by me while employed by Premier related to Premier or its business that could be used to compete against or otherwise harm Premier. Confidential Information includes, but is not limited to, such information in the following categories: (a) information regarding Premier’s affiliates and customers, including affiliate / customer lists, contact information, contracts, billing histories, affiliate/customer preferences, and information regarding products or services provided by Premier to such entities; (b) non-public financial information concerning Premier, including commissions and salaries paid to employees, sales data and projections, forecasts, cost analyses, and similar information; (c) plans and projections for business 

opportunities for new or developing business of Premier, including marketing concepts and business plans; (d) Premier Intellectual Property (as defined below), software, source and object codes, computer data, research information and technical data; (e) information relating to Premier’s services, products, prices, costs, research and development activities, service performance, operating results, pricing strategies, employee lists or personnel matters; and (f) Premier information regarding sources and methods of supply, including supply agreements, supply terms, product discounts and similar information.

4.3    Return of Property. I agree that all materials, documents and data obtained or prepared by me in the course and scope of my employment with Premier are the property of Premier. I also agree that all Confidential Information is the property of Premier. As such, I agree that I will return to Premier when requested, and in any event prior to my last day of employment with Premier, all materials, documents, information, data and other property belonging to Premier in my possession or control, regardless of how stored or maintained and including all originals and copies.

4.4    Intellectual Property. I hereby assign and agree in the future to assign to Premier my full right, title and interest in all Intellectual Property (as defined below). In addition, all copyrightable works that I create during my employment with Premier shall be considered “work made for hire” and shall be owned exclusively by Premier. “Intellectual Property” means any invention, formula, process, discovery, development, design, innovation or improvement made, conceived or first reduced to practice by me, solely or jointly with others, during my employment with Premier. However, “Intellectual Property” shall not apply to any invention that I develop on my own time, without using the equipment, supplies, facilities or trade secret information of Premier, unless such invention relates at the time of conception or reduction to practice to: (a) the business of Premier, (b) the actual or demonstrably anticipated research or development of Premier, or (c) any work performed by me for Premier.

5.    NON-COMPETE AND NON-INTERFERENCE / RAIDING

5.1    Non-Compete.    For a period of 12 months following my last day of employment with Premier, I agree not to: (a) perform in the Prohibited Territory (as defined below) any services for a competitor of Premier that are the same as or substantially similar to the services I performed for Premier at any point during my last 12 months as a Premier employee; or (b) engage, within the Prohibited Territory, in any aspect of the Business (as defined below) that I was involved with on behalf of Premier at any time during the last 12 months of my employment with Premier. “Prohibited Territory” means: (i) the continental United States, which I acknowledge is the area that I am to assist Premier to engage in its business; and/or (ii) the States that I assisted Premier to engage in its business during my last 12 months as a Premier employee. The “Business” means the business engaged in by Premier as of my last day of employment with Premier.   Notwithstanding the preceding, owning the stock or options to acquire stock totaling less than 5% of the outstanding shares in a public company shall not by itself violate the terms of this Section 5.1.

5.2    Non-Interference With Restricted Customers. For a period of 12 months following my last day of employment with Premier, I agree that I will not: (a) call upon, solicit, cause or attempt to cause any Restricted Customer (as defined below) to not do business with Premier or to reduce, modify or transfer any part of its business with Premier; (b) call upon, solicit, cause or attempt to cause any Restricted Customer to do business with a competitor of Premier; (c) sell or provide any services or products to any Restricted Customer that are competitive with or a replacement for Premier’s services or products; and/or (d) as an employee, agent, partner, director, consultant, or in any other capacity assist any person or entity to engage in any of the conduct described in subsections (a) - (c) of this Section. Notwithstanding the preceding, if I become an employee of a Restricted Customer after my employment with Premier ends, then this subsection shall not limit my communications or activities with that particular Restricted Customer while I am employed by that Restricted Customer, provided that: (i) as part of my services with or for such Restricted Customer, I do not engage in activities or directly assist others to engage in activities that compete with Premier in the Business or otherwise violate Section 5.1; and (ii) I abide by the confidentiality and non-raiding of employees obligations set forth in this Agreement.

“Restricted Customer” means: (A) a Customer (as defined below) for which I earned or was paid incentive pay at any point during my last 12 months as a Premier employee; (B) a Customer with which I worked or for which I supervised Premier’s work at any point during my last 12 months as a Premier employee; (C) a prospective Customer that I contacted or for which I supervised contact at any point during my last 12 months as a Premier employee; and/or (D) a current or prospective Customer about which I obtained Confidential Information at any point during my last 12 months as a Premier employee. “Customer” means a Premier customer, partner hospital, member or affiliated health care organization.

5.3    Non-Interference With Restricted Suppliers. For a period of 12 months following my last day of employment with Premier, I agree that I will not solicit, cause or attempt to cause any Restricted Supplier (as defined below) to not do business 

with Premier or to reduce, modify or transfer any part of its business with Premier. “Restricted Supplier” means any supplier of goods or services to Premier: (a) with which I had dealings; (b) for which I supervised or assisted in Premier’s dealings; and/or (c) about which I obtained Confidential Information, all at any point during my last 36 months as a Premier employee.

I further agree that in the event I am later employed by a non-group purchasing organization medical supplier following my employment with Premier, I will recuse myself for a period of 12 months following my last day of employment with Premier from any consideration of decisions or other communications or discussions that would result in the termination of a contract, discontinuance of business, or reduction of business with or amounts paid to Premier involving the products or services that my new employer supplies Premier. I further expressly acknowledge and agree that as part of my post-employment confidentiality commitments to Premier, I cannot and will not use any confidential Premier pricing, contract or other supplier-related information obtained during my employment with Premier in connection with any supply contract or other negotiations between Premier and my new non- group purchasing organization medical supplier employer, if applicable, or to obtain a competitive advantage against or otherwise harm Premier or its affiliated entities.

5.4    Non-Raiding of Employees. During my employment with Premier under this Agreement and for a period of 18 months following my last day of employment with Premier, I agree not to on my own behalf or on behalf of any other entity: (a) hire or engage as an employee or as an independent contractor any then current employee of Premier with whom I worked or about whose work I was familiar during my employment with Premier (each a “Restricted Employee”); and/or (b) solicit, encourage or cause or attempt to solicit, encourage or cause any Restricted Employee to leave his or her employment with Premier.

6.    REASONABLENESS OF RESTRICTIONS

6.1    Reasonableness. I have carefully read and considered the provisions of this Agreement and, having done so, agree that the restrictions set forth in it are fair, reasonable, and necessary to protect Premier’s legitimate business interests, including its trade secrets, Confidential Information and goodwill with Premier’s customers, suppliers and employees. In addition, I acknowledge and agree that the restrictions in this Agreement do not unreasonably restrict or affect my ability to obtain employment should my employment with Premier end. Thus, although Premier and I acknowledge and agree that I retain the right to contest the application or interpretation of Sections 3-5 of this Agreement to particular facts/circumstances, I agree not to contest the general validity or enforceability of Sections 3-5 before any court, arbitration panel or other body.

Further, I agree that I shall notify any prospective employer, entity or individual with whom I seek to be employed or provide independent contractor services of the non-competition, non- interference, confidentiality and other requirements set forth in Sections 3-5 of this Agreement during the applicable term for each, and the Company may likewise provide such notice during the same period to any prospective employer, entity or individual with whom I seek to be employed or provide independent contractor services.

6.2    Related Companies.    For purposes of the restrictions and commitments in Section 3 (Conflicts of Interest), 4 (Confidential Information and Intellectual Property), 5 (Non-Compete and Non- Interference) and 6.1 (Reasonableness), “Premier” or the “Company” shall mean: (a) the Company as defined in the Recitals to this Agreement; and; (b) any “Related Company” (as defined below) or successor of Premier for or with whom I performed or supervised any services at any time during the last 12 months of my employment with Premier.

“Related Company” means (a) any Premier parent company, subsidiary company, sister company or joint venture, or related subsidiary company of such entities; and/or (b) any “parent corporation” with respect to Premier within the meaning of Section 424(e) of the Internal Revenue Code of 1986, as amended (the “Code”), any “subsidiary corporation” with respect to Premier within the meaning of Code Section 424(f) but substituting the phrase “20 percent” for the phrase “50 percent” each place it appears in that section, and any corporation or other entity in a chain of corporations or other entities in which each corporation or other entity has a controlling interest in another corporation or other entity in the chain, beginning with the corporation or other entity in which Premier has a controlling interest. For this purpose, “controlling interest” shall have the same meaning as in Treasury Regulations Section 1.409A-1(b)(5)(E)(1) (or any successor provision) but substituting the phrase “at least  20 percent” for the phrase “at least 50 percent” each place it appears in that section.

7.    OBLIGATIONS CONCERNING PRIOR BUSINESS RELATIONSHIPS

7.1    Former Employment/Engagements. I represent and warrant to Premier that: (a) as of the Effective Date of this Agreement, I am not working for or engaged by any other person or entity as an employee, independent contractor or 

consultant; and (b) I have provided Premier with a copy of any and all agreements with third parties that may limit or attempt to limit my right to be employed by Premier or its Related Companies (as defined in Section 6.2), to perform any activities for Premier or a Related Company, or to disclose to Premier or a Related Company any ideas, inventions, discoveries or other information.

7.2    No Disclosure or Use of Confidential Information of Others. I represent and warrant to Premier that I have not brought and will not bring with me to Premier or use in the performance of my duties for Premier any materials, data, software, technology, trade secrets, intellectual property, confidential or proprietary information, or documents belonging to a third party that are not generally available to the public, unless I have obtained written authorization to do so from the third party and provided Premier with a copy of it.  I understand and agree that, in my employment with Premier, I am not to breach any obligation of confidentiality that I have to former employers or other third parties, and I agree that I shall fulfill all such obligations during my employment with Premier. I further agree that I shall not disclose to Premier or its Related Companies (as defined in Section 6.2) or seek to induce such entities to use any confidential information or trade secrets belonging to a third party.

8.    GENERAL PROVISIONS

8.1    General Notification and Breach. Through and up to the conclusion of the 12-month restricted period set forth in Sections 5.1-5.3, I shall give notice to Premier of each new business activity I plan to undertake, at least seven (7) calendar days prior to beginning any such activity, including but not limited to work as an employee or independent contractor. Such notice shall state the name and address of the person or entity for whom such activity is undertaken and the nature of my business relationship(s) and position(s) with such person or entity. I shall provide Premier with such other pertinent information concerning such business activity as Premier may reasonably request in order to determine my compliance with my obligations under Sections 4-6 of this Agreement.

I acknowledge that my breach of this Agreement, particularly Sections 3-6, will cause immediate and irreparable damage to Premier and its Related Companies and that such damages will be exceedingly difficult to measure in full. Therefore, I acknowledge that the payment of damages in an action at law for breach of this Agreement would not adequately compensate Premier or its Related Companies for the damages suffered. In addition, the short duration of the covenants contained in this Agreement makes essential the enforcement of this Agreement by injunctive relief. Premier and I therefore agree that this Agreement may be enforced through temporary, preliminary and permanent injunctive relief, and that all other available remedies at law or in equity including, but not limited to, money damages, may be pursued for breach of this Agreement.

Moreover, I agree that, in addition to any other remedies available to Premier and/or its Related Companies by operation of law or otherwise, if I breach of any of the obligations contained in Sections 3-6, I shall: (a) forfeit at the time of the breach the right to any additional Severance Pay under Section 2 of this Agreement; (b) forfeit the right to all further unpaid / unawarded, amounts that may otherwise be payable under the terms of any Annual Plan, the Equity Incentive Plan or any other equity or incentive compensation plan in which I participates and to which I might otherwise then be entitled by virtue thereof at the time of the breach, if any, notwithstanding any provisions of this Agreement or such plans or programs to the contrary; and (c) be required to refund to Premier and its Related Companies, and Premier and its Related Companies shall be entitled to recover of me, the amount of any and all such Severance Pay, Annual Plan, Equity Incentive plan, or other equity or incentive plan pay or awards already paid or provided to or on behalf of me by Premier and/or its Related Companies (as defined in Section 6.2) following the initial breach, if any, notwithstanding any provisions of this Agreement or such plans or programs to the contrary.

In addition, Premier and I agree that the prevailing party in any legal action to enforce the terms of this Agreement, including but not limited to Sections 3-6, shall be entitled to costs and attorneys’ fees related to any such proceeding as allowed by law. Further, the time period for the covenants in Sections 4-6 shall be tolled during any period of time in which I am violating those Sections.    The restrictions and obligations in Sections 4-6 shall survive my last day of employment with Premier and shall be in addition to any restrictions imposed on me by statute, at common law, or other agreements. The restrictions and obligations in Sections 4-6 shall continue to be enforceable regardless of whether there is a subsequent dispute between me and Premier concerning any alleged breach of this Agreement.

8.2    Judicial Modification and Severability. If a court determines that any provision of this Agreement is invalid, then Premier and I request that the court “blue-pencil” or otherwise modify such provision in order to render the provision not invalid and enforce the provision as modified. In such a case, all other provisions contained in this Agreement shall remain in full force and effect.  In addition, each provision of this Agreement is severable from each other provision.

8.3    Section 409A.

(a)Section 409A Compliance.    Premier and I intend that any amounts payable hereunder that could constitute “deferred compensation” within the meaning of Section 409A of the Code (“Section 409A”) will be compliant with Section 409A. If Premier shall determine that any provision of this Agreement does not comply with the requirements of Section 409A, Premier shall amend the Agreement to the extent necessary (including retroactively) in order to comply with Section 409A (which amendment shall not reduce the amounts payable to me under this Agreement). Premier shall also have the discretionary authority to take such other actions to correct any failures to comply in operation with the requirements of Section 409A. Such authority shall include the power to adjust the timing or other details relating to the awards and/or payments described in this Agreement (but not the amounts payable to me under this Agreement) if Premier determines that such adjustments are necessary in order to comply with or become exempt from the requirements of Section 409A. Notwithstanding the foregoing, to the extent that this Agreement or any payment or benefit (or portion thereof) under this Agreement or the plans referenced herein shall be deemed not to comply with Section 409A, then Premier and its Related Companies, the Board and Compensation Committee of the Board, and Premier, Inc. and its Related Companies’ shareholders, owners, board members, officers, employees, and their designees and agents shall not be liable to me in any way. However, if and to the extent I incur any Section 409A related excise taxes, penalties or interest charges as a result of the Company’s breach of this Agreement not otherwise consented to by me in writing (e.g., with respect to payment timing), then Premier shall reimburse me in full for the amount of such excise taxes, penalties and interest charges so that I am restored to the same position in which I would have been had Premier’s breach not occurred.

(b)Separation From Service.    Notwithstanding anything in this Agreement to the contrary, no separation benefits, if applicable, deemed deferred compensation subject to Section 409A shall be payable pursuant to this Agreement unless my separation from employment constitutes a “separation from service” with Premier within the meaning of Section 409A and the Department of Treasury regulations and other guidance promulgated thereunder (a “Separation from Service”).

(c)Specified Employee.    Notwithstanding any provision to the contrary in this Agreement, if I am deemed by Premier at the time of my Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which I am entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of my benefits shall not be provided to me prior to the earlier of (1) the expiration of the six-month period measured from the date of my Separation from Service or (2) the date of my death. Upon the first business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 8.3(c) shall be paid in a lump sum to me, and any remaining payments due  under  this Agreement shall be paid as otherwise provided herein.

(d)Expense Reimbursements.    To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of Section 409A, any such reimbursements payable to me pursuant to this Agreement shall be paid to me no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and my right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.

(e)Installments.    For purposes of Section 409A (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), my right to receive the installment payments under this Agreement shall be treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment.

8.4    Tax Penalty Protection. Notwithstanding any other provision in this Agreement to the contrary, any payment or benefit received or to be received by me in connection with a “change in ownership or control” (as such term is defined under Section 280G of the Code - a “Change in Control”) or the termination of employment (whether payable under the terms of this Agreement or any other plan, arrangement or agreement with Premier or its subsidiaries and affiliates (collectively, the “Payments”) that would constitute a “parachute payment” within the meaning of Section 280G of the Code, shall be reduced to the extent necessary so that no portion thereof shall be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), but only if, by reason of such reduction, the net after-tax benefit received by me shall exceed the net after-tax benefit that would be received by me if no such reduction was made. Whether and how the limitation under this Section is applicable shall be determined under the Section 280G Rules set forth in Annex A hereto.

8.5    Incentive-Based Compensation Clawback.    In accordance with the terms and conditions of Premier, 

Inc.’s and the Company’s Compensation Recoupment Policy as such policy may be established, modified, changed, replaced or terminated from time to time by Premier, Inc. in its sole discretion to comply with listing exchange / service rules and regulations and/or other applicable regulatory requirements, I agree to repay any incentive or other compensation paid or otherwise made available to me by Premier or its Related Companies (as defined in Section 6.2), as required by the terms of such policy. If I fail to return such compensation as required by the terms of the Compensation Recoupment Policy and/or applicable law, I hereby agree and authorize Premier and its Related Companies to, among other things as set forth in the policy: (a) deduct the amount of such identified compensation from any and all other compensation owed to me by Premier and/or is Related Companies; and/or (b) adjust and reduce future compensation to me. I acknowledge that Premier may take appropriate disciplinary action (up to, and including, Termination For Just Cause) if I fail to return / repay such identified compensation within the timeframe required by the Compensation Recoupment Policy. Further, Premier and I agree that the provisions of this Section 8.5 shall remain in effect for the period required by applicable law.

8.6    Indemnification. Premier and I have entered into (or shall enter into concurrent with this Agreement) a separate indemnity agreement, consistent with Premier, Inc.’s certificate of incorporation, by-laws and other corporate governance documents; provided that the entry into such an agreement shall not be a condition precedent to my right to be indemnified by Premier as provided in such corporate governance documents. In addition, Premier will indemnify me or cause me to be indemnified in my capacity as an officer, director or senior manager of any Related Company (as defined in Section 6.2) for which I serve as such, to the fullest extent permitted by the laws of the state of incorporation of such Related Company in effect from time to time, or the certificate of incorporation, by-laws or other corporate governance documents of such Related Company, whichever affords the greater protection to me. Premier may elect to satisfy its obligations pursuant to this Section 8.6 under insurance policies maintained generally for the benefit of its officers, directors and employees against covered costs, charges and expenses incurred in connection with any action, suit, investigation or proceeding to which I may be made a party by reason of being a director, officer or senior manager of Premier. In addition, Premier shall provide me with directors’ and officers’ insurance coverage to the same extent as provided to other senior executives of Premier.

8.7    Governing Law, Forum, Jurisdiction. I agree that this Agreement shall be governed by the laws of the State of North Carolina, regardless of where I may work for Premier and irrespective of conflict of law principles. Moreover, any litigation under this Agreement shall be brought by either me or Premier exclusively in Mecklenburg County, North Carolina, notwithstanding that I may not be a resident of North Carolina when the litigation is commenced and/or cannot be served process within North Carolina. As such, Premier and I irrevocably consent to the jurisdiction of the courts in Mecklenburg County,  North  Carolina  (whether  federal  or  state)  for  all  disputes  related  to  this  Agreement  and irrevocably consent to service of process via nationally recognized overnight carrier, without limiting other service methods available under applicable law.

8.8    Entire Agreement, Amendment, Waiver, Assignment. This Agreement constitutes the entire agreement between me and Premier related to the subject matters contained in it and supersedes all previous agreements related to these subject matters, including but not limited to the Prior Employment Agreement and any offer or position assignment letters between me and Premier. No amendment or attempted waiver of any of the provisions of this Agreement shall be binding unless reduced to writing and signed by me and Premier. Premier shall have the right to assign or transfer this Agreement to any affiliated entity or successor to all or part of its business, and I irrevocably consent to any such assignment or transfer. Further, Premier and I agree that Premier may disclose the compensation and other terms of this Agreement: (a) to Premier’s shareholders/owners; and (b) in its proxy statements or other public securities filings as required by law.

[Signature Page Follows]

Agreed to and accepted:

Date:        6/5/17                        /s/ David Hargraves                    
David Hargraves                            

Agreed to and accepted:                    PREMIER HEALTHCARE SOLUTIONS, INC.                
Date:        6/6/17                        /s/ Jim Jensen                        
Signature of Authorized Representative

Jim Jensen
Vice President, Compensation                                                 

PREMIER, INC.
                            
Date:        6/5/17                        /s/ Kelli Price                        
Signature of Authorized Representative

Kelli L. Price
Senior Vice President, People
                            
Joining this Agreement as a Party solely as a guarantor of Premier Healthcare Solutions, Inc.’s financial obligations hereunder

Annex A:  Section 280G Rules

The following rules shall apply for purposes of determining whether and how the limitations provided under Section 8.4 of this Agreement are applicable to me.

1.The “net after-tax benefit” shall mean (i) the Payments (as defined in Section 8.4) which I receive or am then entitled to receive from the Company or a subsidiary or affiliate that would constitute “parachute payments” within the meaning of Code Section 280G, less (ii) the amount of all federal, state and local income and employment taxes payable by me with respect to the foregoing calculated at the highest marginal income tax rate for each year in which the foregoing shall be paid to me (based on the rate in effect for such year as set forth in the Code as in effect at the time of the first payment of the foregoing), less (iii) the amount of Excise Tax imposed with respect to the payments and benefits described in (i) above.

2.All determinations under Section 8.4 of this Agreement and this Annex A will be made by an accounting firm or law firm that is selected for this purpose by Premier prior to a Change in Control (the “280G Firm”). All fees and expenses of the 280G Firm shall be borne by the Company. Premier will direct the 280G Firm to submit any determination it makes under Section 8.4 of this Agreement and this Annex A and detailed supporting calculations to both me and Premier as soon as reasonably practicable.

3.If the 280G Firm determines that one or more reductions are required under Section 8.4 of this Agreement, the 280G Firm shall also determine which Payments shall be reduced (first from cash payments and then from non-cash benefits) to the extent necessary so that no portion thereof shall be subject to the excise tax imposed by Section 4999 of the Code, and Premier shall pay such reduced amount to me. The 280G Firm shall make reductions required under Section 8.4 of this Agreement in a manner that maximizes the net after-tax amount payable to me.

4.As a result of the uncertainty in the application of Section 280G at the time that the 280G Firm makes its determinations under this provision, it is possible that amounts will have been paid or distributed to me that should not have been paid or distributed (collectively, the “Overpayments”), or that additional amounts should be paid or distributed to me (collectively, the “Underpayments”). If the 280G Firm determines, based on either the assertion of a deficiency by the Internal Revenue Service against Premier or me, which assertion the 280G Firm believes has a high probability of success or controlling precedent or substantial authority, that an Overpayment has been made, I must repay the Overpayment amount promptly to Premier, without interest; provided, however, that no loan will be deemed to have been made and no amount will be payable by me to Premier unless, and then only to the extent that, the deemed loan and payment would either reduce the amount on which I am subject to tax under Section 4999 of the Code or generate a refund of tax imposed under Section 4999 of the Code. If the 280G Firm determines, based upon controlling precedent or substantial authority, that an Underpayment has occurred, the 280G Firm will notify me and Premier of that determination, and the Underpayment amount will be paid to me promptly by Premier.

5.I will provide the 280G Firm access to, and copies of, any books, records and documents in my possession as reasonably requested by the 280G Firm, and otherwise cooperate with the 280G Firm in connection with the preparation and issuance of the determinations and calculations contemplated by Section 8.4 of this Agreement.EX-10.1

 Exhibit 10.1 

RANDOLPH BANCORP, INC. 

2017 STOCK OPTION AND INCENTIVE PLAN 
  

	SECTION 1.	GENERAL PURPOSE OF THE PLAN; DEFINITIONS 

 The name of the plan is the Randolph Bancorp,
Inc. 2017 Stock Option and Incentive Plan (the “Plan”). The purpose of the Plan is to encourage and enable the officers, employees and Non-Employee Directors of Randolph Bancorp, Inc. (the “Company”) and its Subsidiaries,
including Randolph Savings Bank (the “Bank”), upon whose judgment, initiative and efforts the Company largely depends for the successful conduct of its businesses to acquire a proprietary interest in the Company. It is anticipated that
providing such persons with a direct stake in the Company’s welfare will assure a closer identification of their interests with those of the Company and its stockholders, thereby stimulating their efforts on the Company’s behalf and
strengthening their desire to remain with the Company. 
 The following terms shall be defined as set forth below: 

“Administrator” means either the Board or Governance Committee of the Board or a similar committee performing the functions
of the compensation committee and which is comprised of not less than two Non-Employee Directors who are independent. 

“Award” or “Awards,” except where referring to a particular category of grant under the Plan, shall include
Incentive Stock Options, Non-Qualified Stock Options, Stock Appreciation Rights, Restricted Stock Units, Restricted Stock Awards, Unrestricted Stock Awards, Cash-Based Awards, Performance Share Awards and Dividend Equivalent Rights. 

“Award Certificate” means a written or electronic document setting forth the terms and provisions applicable to an Award
granted under the Plan. Each Award Certificate is subject to the terms and conditions of the Plan. 
 “Board” means
the Board of Directors of the Company. 
 “Cash-Based Award” means an Award entitling the recipient to receive a
cash-denominated payment. 
 “Code” means the Internal Revenue Code of 1986, as amended, and any successor Code, and
related rules, regulations and interpretations. 
 “Covered Employee” means an employee who is a “Covered
Employee” within the meaning of Section 162(m) of the Code. 
 “Dividend Equivalent Right” means an Award
entitling the grantee to receive credits based on cash dividends that would have been paid on the shares of Stock specified in the Dividend Equivalent Right (or other award to which it relates) if such shares had been issued to and held by the
grantee. 

 “Effective Date” means the date on which the Plan becomes effective as set forth
in Section 21. 
 “Fair Market Value” of the Stock on any given date means the fair market value of the Stock
determined by reference to market quotations on the National Association of Securities Dealers Automated Quotation System (“NASDAQ”), NASDAQ Global Market or another national securities exchange. If there are no market quotations for such
date, the determination shall be made by reference to the last date preceding such date for which there are market quotations or as otherwise determined in good faith by the Administrator. 

“Incentive Stock Option” means any Stock Option designated and qualified as an “incentive stock option” as defined
in Section 422 of the Code. 
 “Non-Employee Director” means a member of the Board who is not also an employee
of the Company or any Subsidiary. 
 “Non-Qualified Stock Option” means any Stock Option that is not an Incentive
Stock Option. 
 “Option” or “Stock Option” means any option to purchase shares of Stock granted
pursuant to Section 5. 
 “Performance-Based Award” means any Restricted Stock Award, Restricted Stock Units,
Performance Share Award or Cash-Based Award granted to a Covered Employee that is intended to qualify as “performance-based compensation” under Section 162(m) of the Code and the regulations promulgated thereunder. 

“Performance Criteria” means the criteria that the Administrator selects for purposes of establishing the Performance Goal or
Performance Goals for an individual for a Performance Cycle. The Performance Criteria (which shall be applicable to the organizational level specified by the Administrator, including, but not limited to, the Company or a unit, division, group, or
Subsidiary of the Company) that will be used to establish Performance Goals are limited to the following: total shareholder return; net income (loss) (either before or after interest, taxes, depreciation and/or amortization); changes in the market
price of the Stock; economic value-added; acquisitions or strategic transactions; operating income (loss); return on capital, assets, equity, or investment; expense; margins; operating efficiency; customer satisfaction; earnings (loss) per share of
Stock; market shares and number of customers; any of which may be measured either in absolute terms or as compared to any incremental increase or as compared to results of a peer group. The Administrator may appropriately adjust any evaluation
performance under a Performance Criterion to exclude any of the following events that occurs during a Performance Cycle: (i) asset write-downs or impairments, (ii) litigation or claim judgments or settlements, (iii) the effect of
changes in tax law, accounting principles or other such laws or provisions affecting reporting results, (iv) accruals for reorganizations and restructuring programs, and (v) any item of an unusual nature or of a type that indicates
infrequency of occurrence, or both, including, among others, those described in management’s discussion and analysis of financial condition of operations appearing in the Company’s annual report to 

  
 2 

 
stockholders for the applicable year and/or in the Financial Accounting Standards Board’s authoritative guidance. 

“Performance Cycle” means one or more periods of time, which may be of varying and overlapping durations, as the
Administrator may select, over which the attainment of one or more Performance Criteria will be measured for the purpose of determining a grantee’s right to and the payment of a Restricted Stock Award, Restricted Stock Units, Performance Share
Award or Cash-Based Award, the vesting and/or payment of which is subject to the attainment of one or more Performance Goals. Each such period shall not be less than 12 months. 

“Performance Goals” means, for a Performance Cycle, the specific goals established in writing by the Administrator for a
Performance Cycle based upon the Performance Criteria.  
 “Performance Share Award” means an Award entitling the
recipient to acquire shares of Stock upon the attainment of specified performance goals. 
 “Restricted Shares” means the
shares of Stock underlying a Restricted Stock Award that remain subject to a risk of forfeiture or the Company’s right of repurchase. 

“Restricted Stock Award” means an Award of Restricted Shares subject to such restrictions and conditions as the Administrator
may determine at the time of grant. 
 “Restricted Stock Units” means an Award of stock units subject to such
restrictions and conditions as the Administrator may determine at the time of grant. 
 “Sale Event” shall mean
(i) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, (ii) a sale of the Bank by the Company at a time when the Bank represents at least [50] percent of the assets
of the Company, (iii) a merger, reorganization or consolidation or other business combination pursuant to which the Company is not the survivor of such merger, consolidation or other business combination or the holders of the Company’s
outstanding voting power and outstanding stock immediately prior to such transaction do not own a majority of the outstanding voting power and outstanding stock or other equity interests of the resulting or successor entity (or its ultimate parent,
if applicable) immediately upon completion of such transaction, (iv) the sale of all of the Stock of the Company to an unrelated person, entity or group thereof acting in concert, or (iv) a change in control of the Company within the
meaning of the Change in Bank Control Act and the Rules and Regulations promulgated by the Federal Deposit Insurance Corporation at 12 C.F.R. Section 303.82(b) with respect to the Bank and the Board of Governors of the Federal Reserve System at
12 C.F.R. Section 225.41(b) with respect to the Company, as in effect on the date hereof and (v) any other transaction in which the owners of the Company’s outstanding voting power immediately prior to such transaction do not own at
least a majority of the outstanding voting power of the Company or any successor entity immediately upon completion of the transaction other than as a result of the acquisition of securities directly from the Company. In addition to the foregoing,
and not in limitation thereof, a Sale Event shall also be deemed to have occurred if, during any period of two consecutive years, individuals who constitute the Board at the beginning of such two-year period cease for any reason to constitute at
least a majority of the Board, as the case may be; provided, however, that for purposes of this sentence, an individual  

  
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shall be deemed to have been a director at the beginning of such period if such individual was elected, or nominated for election, by the Board, as the case may be, by a vote of at least
two-thirds of the directors who were either directors at the beginning of the two-year period or were so elected or nominated by such directors. 

“Sale Price” means the value as determined by the Administrator of the consideration payable, or otherwise to be
received by stockholders, per share of Stock pursuant to a Sale Event. 
 “Section 409A” means Section 409A of
the Code and the regulations and other guidance promulgated thereunder. 
 “Stock” means the Common Stock, par value
$0.01 per share, of the Company, subject to adjustments pursuant to Section 3. 
 “Stock Appreciation Right”
means an Award entitling the recipient to receive shares of Stock having a value equal to the excess of the Fair Market Value of the Stock on the date of exercise over the exercise price of the Stock Appreciation Right multiplied by the number of
shares of Stock with respect to which the Stock Appreciation Right shall have been exercised. 
 “Subsidiary” means
any corporation or other entity (other than the Company) in which the Company has at least a 50 percent interest, either directly or indirectly. 

“Ten Percent Owner” means an employee who owns or is deemed to own (by reason of the attribution rules of Section 424(d)
of the Code) more than 10 percent of the combined voting power of all classes of stock of the Company or any parent or subsidiary corporation.  

“Unrestricted Stock Award” means an Award of shares of Stock free of any restrictions. 

 

	SECTION 2.	ADMINISTRATION OF PLAN; ADMINISTRATOR AUTHORITY TO SELECT GRANTEES AND DETERMINE AWARDS 

(a) Administration of Plan. The Plan shall be administered by the Administrator. 

(b) Powers of Administrator. The Administrator shall have the power and authority to grant Awards consistent with the terms of the
Plan, including the power and authority: 
 (i) to select the individuals to whom Awards may from time to time be granted; 

(ii) to determine the time or times of grant, and the extent, if any, of Incentive Stock Options, Non-Qualified Stock Options, Stock
Appreciation Rights, Restricted Stock Awards, Restricted Stock Units, Unrestricted Stock Awards, Cash-Based Awards, Performance Share Awards and Dividend Equivalent Rights, or any combination of the foregoing, granted to any one or more grantees;

 (iii) to determine the number of shares of Stock to be covered by any Award; 

  
 4 

 (iv) to determine and modify from time to time the terms and conditions, including restrictions,
not inconsistent with the terms of the Plan, of any Award, which terms and conditions may differ among individual Awards and grantees, and to approve the forms of Award Certificates; 

(v) to accelerate at any time the exercisability or vesting of all or any portion of any Award in circumstances involving the grantee’s
death, disability, retirement or termination of employment, or a change in control (including a Sale Event); 
 (vi) subject to the
provisions of Section 5(c), to extend at any time the period in which Stock Options may be exercised; and 
 (vii) at any time to
adopt, alter and repeal such rules, guidelines and practices for administration of the Plan and for its own acts and proceedings as it shall deem advisable; to interpret the terms and provisions of the Plan and any Award (including related written
instruments); to make all determinations it deems advisable for the administration of the Plan; to decide all disputes arising in connection with the Plan; and to otherwise supervise the administration of the Plan. 

All decisions and interpretations of the Administrator shall be binding on all persons, including the Company and Plan grantees. 

(c) Award Certificate. Awards under the Plan shall be evidenced by Award Certificates that set forth the terms, conditions and
limitations for each Award which may include, without limitation, the term of an Award and the provisions applicable in the event employment or service terminates. 

(d) Indemnification. Neither the Board nor the Administrator, nor any member of either or any delegate thereof, shall be liable for any
act, omission, interpretation, construction or determination made in good faith in connection with the Plan, and the members of the Board and the Administrator (and any delegate thereof) shall be entitled in all cases to indemnification and
reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, reasonable attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by law and/or under the Company’s
articles or bylaws or any directors’ and officers’ liability insurance coverage which may be in effect from time to time and/or any indemnification agreement between such individual and the Company. 

  
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	SECTION 3.	STOCK ISSUABLE UNDER THE PLAN; MERGERS; SUBSTITUTION 

 (a) Stock Issuable. 

(i) General. The maximum number of shares of Stock reserved and available for issuance under the Plan shall be 821,621 shares, subject
to adjustment as provided in this Section 3. For purposes of this limitation, the shares of Stock underlying any Awards that are forfeited, canceled or otherwise terminated (other than by exercise) shall be added back to the shares of Stock
available for issuance under the Plan. Notwithstanding the foregoing, the following shares shall not be added to the shares authorized for grant under the Plan: (i) shares tendered or held back upon exercise of an Option or settlement of an
Award to cover the exercise price or tax withholding, and (ii) shares subject to a Stock Appreciation Right that are not issued in connection with the stock settlement of the Stock Appreciation Right upon exercise thereof. In the event the
Company repurchases shares of Stock on the open market, such shares shall not be added to the shares of Stock available for issuance under the Plan. The shares available for issuance under the Plan may be authorized but unissued shares of Stock or
shares of Stock reacquired by the Company. 
 (ii) Limitations. Notwithstanding the foregoing, the maximum number of shares of Stock
that may be delivered pursuant to the exercise of Stock Options is 586,872 shares (all of which may be granted as Incentive Stock Options), and the maximum number of shares of Stock that may be issued as Restricted Stock Awards or Restricted Stock
Units is 234,749 shares. Subject to such overall limitations, shares of Stock may be issued up to such maximum number pursuant to any type or types of Award; provided, however, that the maximum number of shares of Stock, in the aggregate, that may
be subject to either (i) Stock Options or (ii) Restricted Stock Awards and Restricted Stock Units granted to any one employee may not exceed 25 percent of the respective maximum number of shares that may be delivered pursuant to this
Section 3(a)(ii). In addition, Stock Options or Stock Appreciation Rights with respect to no more than 146,718 shares of Stock may be granted to any one individual grantee during any one calendar period. 

(b) Maximum Awards to Non-Employee Directors. Notwithstanding anything to the contrary in this Plan, the maximum number of shares of
Stock, in the aggregate, that may be subject to either (i) Stock Options or (ii) Restricted Stock Awards and Restricted Stock Units granted to any one Non-Employee Director may not exceed five percent of the respective maximum number of
shares that may be delivered pursuant to Section 3(a)(ii), and, in addition, all Non-Employee Directors, in the aggregate, may not receive more than 30 percent of the maximum number of shares of Stock that may be delivered or issued pursuant to
Section 3(a). The value of all Awards awarded under this Plan and all other cash compensation paid by the Company to any Non-Employee Director in any calendar year shall not exceed $400,000. For the purpose of this limitation, the value of any
Award shall be its grant date fair value, as determined in accordance with ASC 718 or successor provision but excluding the impact of estimated forfeitures related to service-based vesting provisions. 

(c) Changes in Stock. Subject to Section 3(d) hereof, if, as a result of any reorganization, recapitalization, reclassification,
stock dividend, stock split, reverse stock split or other similar change in the Company’s capital stock, the outstanding shares of Stock are increased or decreased or are exchanged for a different number or kind of shares or other

  
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securities of the Company, or additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of Stock or
other securities, or, if, as a result of any merger or consolidation, sale of all or substantially all of the assets of the Company, the outstanding shares of Stock are converted into or exchanged for securities of the Company or any successor
entity (or a parent or subsidiary thereof), the Administrator shall make an appropriate or proportionate adjustment in (i) the maximum number of shares reserved for issuance under the Plan, including the maximum number of shares that may be
issued in the form of Incentive Stock Options, (ii) the number of Stock Options or Stock Appreciation Rights that can be granted to any one individual grantee and the maximum number of shares that may be granted under a Performance-Based Award,
(iii) the number and kind of shares or other securities subject to any then outstanding Awards under the Plan, (iv) the repurchase price, if any, per share subject to each outstanding Restricted Stock Award, and (v) the exercise price
for each share subject to any then outstanding Stock Options and Stock Appreciation Rights under the Plan, without changing the aggregate exercise price (i.e., the exercise price multiplied by the number of Stock Options and Stock Appreciation
Rights) as to which such Stock Options and Stock Appreciation Rights remain exercisable. The Administrator shall also make equitable or proportionate adjustments in the number of shares subject to outstanding Awards and the exercise price and the
terms of outstanding Awards to take into consideration cash dividends paid other than in the ordinary course or any other extraordinary corporate event. The adjustment by the Administrator shall be final, binding and conclusive. No fractional shares
of Stock shall be issued under the Plan resulting from any such adjustment, but the Administrator in its discretion may make a cash payment in lieu of fractional shares. 

(d) Mergers and Other Transactions. In the case of and subject to the consummation of a Sale Event, the parties thereto may cause the
assumption or continuation of Awards theretofore granted by the successor entity, or the substitution of such Awards with new Awards of the successor entity or parent thereof, with appropriate adjustment as to the number and kind of shares and, if
appropriate, the per share exercise prices, as such parties shall agree. To the extent the parties to such Sale Event do not provide for the assumption, continuation or substitution of Awards, upon the effective time of the Sale Event, the Plan and
all outstanding Awards granted hereunder shall terminate. In such case, except as may be otherwise provided in the relevant Award Certificate, all Options and Stock Appreciation Rights that are not exercisable immediately prior to the effective time
of the Sale Event shall become fully exercisable as of the effective time of the Sale Event, all other Awards with time-based vesting, conditions or restrictions shall become fully vested and nonforfeitable as of the effective time of the Sale
Event, and all Awards with conditions and restrictions relating to the attainment of performance goals may become vested and nonforfeitable in connection with a Sale Event in the Administrator’s discretion or to the extent specified in the
relevant Award Certificate. In the event of such termination, (i) the Company shall have the option (in its sole discretion) to make or provide for a payment, in cash or in kind, to the grantees holding Options and Stock Appreciation Rights, in
exchange for the cancellation thereof, in an amount equal to the difference between (A) the Sale Price multiplied by the number of shares of Stock subject to outstanding Options and Stock Appreciation Rights (to the extent then exercisable at
prices not in excess of the Sale Price) and (B) the aggregate exercise price of all such outstanding Options and Stock Appreciation Rights; or (ii) each grantee shall be permitted, within a specified period of time prior to the
consummation of the Sale Event as determined by the Administrator, to exercise all outstanding Options and Stock Appreciation Rights (to the extent then exercisable) 

  
 7 

 
held by such grantee. The Company shall also have the option (in its sole discretion) to make or provide for a payment, in cash or in kind, to the grantees holding other Awards in an amount equal
to the Sale Price multiplied by the number of vested shares of Stock under such Awards. 
  

	SECTION 4.	ELIGIBILITY 

 Grantees under the Plan will be such full or part-time officers and other
employees and Non-Employee Directors of the Company and its Subsidiaries as are selected from time to time by the Administrator in its sole discretion. 
  

	SECTION 5.	STOCK OPTIONS 

 (a) Award of Stock Options. The Administrator may grant Stock
Options under the Plan. Any Stock Option granted under the Plan shall be in such form as the Administrator may from time to time approve. 

Stock Options granted under the Plan may be either Incentive Stock Options or Non-Qualified Stock Options. Incentive Stock Options may be
granted only to employees of the Company or any Subsidiary that is a “subsidiary corporation” within the meaning of Section 424(f) of the Code. To the extent that any Option does not qualify as an Incentive Stock Option, it shall be
deemed a Non-Qualified Stock Option. 
 Stock Options granted pursuant to this Section 5 shall be subject to the following terms and
conditions and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Administrator shall deem desirable, which may differ among individual Awards and grantees. If the Administrator so determines,
Stock Options may be granted in lieu of cash compensation at the optionee’s election, subject to such terms and conditions as the Administrator may establish. 

(b) Exercise Price. The exercise price per share for the Stock covered by a Stock Option granted pursuant to this Section 5 shall
be determined by the Administrator at the time of grant but shall not be less than 100 percent of the Fair Market Value on the date of grant. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the option price of such
Incentive Stock Option shall be not less than 110 percent of the Fair Market Value on the grant date. 
 (c) Option Term. The term of
each Stock Option shall be fixed by the Administrator, but no Stock Option shall be exercisable more than ten years after the date the Stock Option is granted. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the term
of such Stock Option shall be no more than five years from the date of grant. 
 (d) Exercisability; Rights of a Stockholder. Stock
Options shall become exercisable at such time or times, whether or not in installments, as shall be determined by the Administrator at or after the grant date. The Administrator may at any time accelerate the exercisability of all or any portion of
any Stock Option. An optionee shall have the rights of a stockholder only as to shares acquired upon the exercise of a Stock Option and not as to unexercised Stock Options. 

  
 8 

 (e) Method of Exercise. Stock Options may be exercised in whole or in part, by giving
written or electronic notice of exercise to the Company, specifying the number of shares to be purchased. Payment of the purchase price may be made by one or more of the following methods except to the extent otherwise provided in the Option Award
Certificate: 
 (i) In cash, by certified or bank check or other instrument acceptable to the Administrator; 

(ii) Through the delivery (or attestation to the ownership following such procedures as the Company may prescribe) of shares of Stock that are
not then subject to restrictions under any Company plan. Such surrendered shares shall be valued at Fair Market Value on the exercise date; 

(iii) By the optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to
promptly deliver to the Company cash or a check payable and acceptable to the Company for the purchase price; provided that in the event the optionee chooses to pay the purchase price as so provided, the optionee and the broker shall comply with
such procedures and enter into such agreements of indemnity and other agreements as the Company shall prescribe as a condition of such payment procedure; or 

(iv) With respect to Stock Options that are not Incentive Stock Options, by a “net exercise” arrangement pursuant to which the
Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. 

Payment instruments will be received subject to collection. The transfer to the optionee on the records of the Company or of the transfer agent of the shares
of Stock to be purchased pursuant to the exercise of a Stock Option will be contingent upon receipt from the optionee (or a purchaser acting in his stead in accordance with the provisions of the Stock Option) by the Company of the full purchase
price for such shares and the fulfillment of any other requirements contained in the Option Award Certificate or applicable provisions of laws (including the satisfaction of any withholding taxes that the Company is obligated to withhold with
respect to the optionee). In the event an optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock transferred to the optionee upon the exercise of the Stock Option
shall be net of the number of attested shares. In the event that the Company establishes, for itself or using the services of a third party, an automated system for the exercise of Stock Options, such as a system using an internet website or
interactive voice response, then the paperless exercise of Stock Options may be permitted through the use of such an automated system. 

(f) Annual Limit on Incentive Stock Options. To the extent required for “incentive stock option” treatment under
Section 422 of the Code, the aggregate Fair Market Value (determined as of the time of grant) of the shares of Stock with respect to which Incentive Stock Options granted under this Plan and any other plan of the Company or its parent and
subsidiary corporations become exercisable for the first time by an optionee during any calendar year shall not exceed $100,000. To the extent that any Stock Option exceeds this limit, it shall constitute a Non-Qualified Stock Option. 

  
 9 

	SECTION 6.	STOCK APPRECIATION RIGHTS 

 (a) Award of Stock Appreciation Rights. The
Administrator may grant Stock Appreciation Rights under the Plan. 
 (b) Exercise Price of Stock Appreciation Rights. The exercise
price of a Stock Appreciation Right shall not be less than 100 percent of the Fair Market Value of the Stock on the date of grant. 
 (c)
Grant and Exercise of Stock Appreciation Rights. Stock Appreciation Rights may be granted by the Administrator independently of any Stock Option granted pursuant to Section 5 of the Plan. 

(d) Terms and Conditions of Stock Appreciation Rights. Stock Appreciation Rights shall be subject to such terms and conditions as shall
be determined on the date of grant by the Administrator. The term of a Stock Appreciation Right may not exceed ten years. The terms and conditions of each such Award shall be determined by the Administrator, and such terms and conditions may differ
among individual Awards and grantees. 
  

	SECTION 7.	RESTRICTED STOCK AWARDS 

 (a) Nature of Restricted Stock Awards. The Administrator
may grant Restricted Stock Awards under the Plan. The terms and conditions of each such Award shall be determined by the Administrator, and such terms and conditions may differ among individual Awards and grantees. Conditions may be based on
continuing employment (or other service relationship) and/or achievement of pre-established performance goals and objectives. 
 (b)
Rights as a Stockholder. Upon the grant of the Restricted Stock Award and payment of any applicable purchase price, a grantee shall have the rights of a stockholder with respect to the voting of the Restricted Shares and receipt of dividends;
provided that if the lapse of restrictions with respect to the Restricted Stock Award is tied to the attainment of performance goals, any dividends paid by the Company during the performance period shall accrue and shall not be paid to the grantee
until and to the extent the performance goals are met with respect to the Restricted Stock Award. Unless the Administrator shall otherwise determine, (i) uncertificated Restricted Shares shall be accompanied by a notation on the records of the
Company or the transfer agent to the effect that they are subject to forfeiture until such Restricted Shares are vested as provided in Section 7(d) below, and (ii) certificated Restricted Shares shall remain in the possession of the
Company until such Restricted Shares are vested as provided in Section 7(d) below, and the grantee shall be required, as a condition of the grant, to deliver to the Company such instruments of transfer as the Administrator may prescribe. 

(c) Restrictions. Restricted Shares may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of except as
specifically provided herein or in the Restricted Stock Award Certificate. 
 (d) Termination. Except as may otherwise be provided by
the Administrator either in the Award Certificate or, subject to Section 18 below, in writing after the Award is issued, if a grantee’s employment (or other service relationship) with the Company and its Subsidiaries

  
 10 

 
terminates for any reason, any Restricted Shares that have not vested at the time of termination shall automatically and without any requirement of notice to such grantee from or other action by
or on behalf of, the Company be deemed to have been reacquired by the Company at its original purchase price (if any) from such grantee or such grantee’s legal representative simultaneously with such termination of employment (or other service
relationship), and thereafter shall cease to represent any ownership of the Company by the grantee or rights of the grantee as a stockholder. Following such deemed reacquisition of Restricted Shares that are represented by physical certificates, a
grantee shall surrender such certificates to the Company upon request without consideration. 
 (e) Vesting of Restricted Shares. The
Administrator at the time of grant shall specify the date or dates and/or the attainment of pre-established performance goals, objectives and other conditions on which the non-transferability of the Restricted Shares and the Company’s right of
repurchase or forfeiture shall lapse. Subsequent to such date or dates and/or the attainment of such pre-established performance goals, objectives and other conditions, the shares on which all restrictions have lapsed shall no longer be Restricted
Shares and shall be deemed “vested.” 
  

	SECTION 8.	RESTRICTED STOCK UNITS 

 (a) Nature of Restricted Stock Units. The Administrator
may grant Restricted Stock Units under the Plan. The terms and conditions of each such Award shall be determined by the Administrator, and such terms and conditions may differ among individual Awards and grantees. Conditions may be based on
continuing employment (or other service relationship) and/or achievement of pre-established performance goals and objectives. Except in the case of Restricted Stock Units with a deferred settlement date that complies with Section 409A, at the
end of the vesting period, the Restricted Stock Units, to the extent vested, shall be settled in the form of shares of Stock. Restricted Stock Units with deferred settlement dates are subject to Section 409A and shall contain such additional
terms and conditions as the Administrator shall determine in its sole discretion in order to comply with the requirements of Section 409A. 

(b) Election to Receive Restricted Stock Units in Lieu of Compensation. The Administrator may, in its sole discretion, permit a grantee
to elect to receive a portion of future cash compensation otherwise due to such grantee in the form of an award of Restricted Stock Units. Any such election shall be made in writing and shall be delivered to the Company no later than the date
specified by the Administrator and in accordance with Section 409A and such other rules and procedures established by the Administrator. Any such future cash compensation that the grantee elects to defer shall be converted to a fixed number of
Restricted Stock Units based on the Fair Market Value of Stock on the date the compensation would otherwise have been paid to the grantee if such payment had not been deferred as provided herein. The Administrator shall have the sole right to
determine whether and under what circumstances to permit such elections and to impose such limitations and other terms and conditions thereon as the Administrator deems appropriate. Any Restricted Stock Units that are elected to be received in lieu
of cash compensation shall be fully vested, unless otherwise provided in the Award Certificate. 
 (c) Rights as a Stockholder. A
grantee shall have the rights as a stockholder only as to shares of Stock acquired by the grantee upon settlement of the Restricted Stock Units by the issuance of shares of Stock upon the satisfaction of the applicable restrictions and conditions
set 

  
 11 

 
forth at the time of grant; provided, however, that the grantee may be credited with Dividend Equivalent Rights with respect to the stock units underlying his Restricted Stock Units, subject to
the provisions of Section 11 and such terms and conditions as the Administrator may determine. 
 (d) Termination. Except as may
otherwise be provided by the Administrator either in the Award Certificate or, subject to Section 18 below, in writing after the Award is issued, a grantee’s right in all Restricted Stock Units that have not vested shall automatically
terminate upon the grantee’s termination of employment (or cessation of service relationship) with the Company and its Subsidiaries for any reason. 
  

	SECTION 9.	UNRESTRICTED STOCK AWARDS 

 Grant or Sale of Unrestricted Stock. The Administrator
may grant (or sell at par value or such higher purchase price determined by the Administrator) an Unrestricted Stock Award under the Plan. Unrestricted Stock Awards may be granted in respect of past services or other valid consideration, or in lieu
of cash compensation due to such grantee. The terms and conditions of each such Award shall be determined by the Administrator, and such terms and conditions may differ among individual Awards and grantees. 

 

	SECTION 10.	CASH-BASED AWARDS 

 Grant of Cash-Based Awards. The Administrator may grant
Cash-Based Awards under the Plan. The Administrator shall determine the maximum duration of the Cash-Based Award, the amount of cash to which the Cash-Based Award pertains, the conditions upon which the Cash-Based Award shall become vested or
payable, and such other provisions as the Administrator shall determine. The terms and conditions of each such Award shall be determined by the Administrator, and such terms and conditions may differ among individual Awards and grantees. Each
Cash-Based Award shall specify a cash-denominated payment amount, formula or payment ranges as determined by the Administrator. Payment, if any, with respect to a Cash-Based Award shall be made in accordance with the terms of the Award and may be
made in cash. 
  

	SECTION 11.	PERFORMANCE SHARE AWARDS 

 (a) Nature of Performance Share Awards. The
Administrator may grant Performance Share Awards under the Plan. The Administrator shall determine whether and to whom Performance Share Awards shall be granted, the performance goals, the periods during which performance is to be measured, which
may not be less than one year except in the case of a Sale Event, and such other limitations and conditions as the Administrator shall determine. The terms and conditions of each such Award shall be determined by the Administrator, and such terms
and conditions may differ among individual Awards and grantees. 
 (b) Rights as a Stockholder. A grantee receiving a Performance
Share Award shall have the rights of a stockholder only as to shares of Stock actually received by the grantee under the Plan and not with respect to shares subject to the Award but not actually received by the grantee. A grantee shall be entitled
to receive shares of Stock under a Performance Share Award only upon satisfaction of all conditions specified in the Performance Share Award Certificate (or in a performance plan adopted by the Administrator). 

  
 12 

 (c) Termination. Except as may otherwise be provided by the Administrator either in the
Award agreement or, subject to Section 18 below, in writing after the Award is issued, a grantee’s rights in all Performance Share Awards shall automatically terminate upon the grantee’s termination of employment (or cessation of
service relationship) with the Company and its Subsidiaries for any reason. 
  

	SECTION 12.	PERFORMANCE-BASED AWARDS TO COVERED EMPLOYEES 

 (a) Performance-Based Awards. The
Administrator may grant one or more Performance-Based Awards in the form of a Restricted Stock Award, Restricted Stock Units, Performance Share Awards or Cash-Based Award payable upon the attainment of Performance Goals that are established by the
Administrator and relate to one or more of the Performance Criteria, in each case on a specified date or dates or over any period or periods determined by the Administrator. The Administrator shall define in an objective fashion the manner of
calculating the Performance Criteria it selects to use for any Performance Cycle. Depending on the Performance Criteria used to establish such Performance Goals, the Performance Goals may be expressed in terms of overall Company performance or the
performance of a division, business unit, or an individual. Each Performance-Based Award shall comply with the provisions set forth below. 

(b) Grant of Performance-Based Awards. With respect to each Performance-Based Award granted to a Covered Employee, the Administrator
shall select, within the first 90 days of a Performance Cycle (or, if shorter, within the maximum period allowed under Section 162(m) of the Code) the Performance Criteria for such grant, and the Performance Goals with respect to each
Performance Criterion (including a threshold level of performance below which no amount will become payable with respect to such Award). Each Performance-Based Award will specify the amount payable, or the formula for determining the amount payable,
upon achievement of the various applicable performance targets. The Performance Criteria established by the Administrator may be (but need not be) different for each Performance Cycle and different Performance Goals may be applicable to
Performance-Based Awards to different Covered Employees. 
 (c) Payment of Performance-Based Awards. Following the completion of a
Performance Cycle, the Administrator shall meet to review and certify in writing whether, and to what extent, the Performance Goals for the Performance Cycle have been achieved and, if so, to also calculate and certify in writing the amount of the
Performance-Based Awards earned for the Performance Cycle. The Administrator shall then determine the actual size of each Covered Employee’s Performance-Based Award. All determinations by the Administrator with respect to Performance-Based
Awards shall be final, binding and conclusive. 
 (d) Maximum Award Payable. The maximum Performance-Based Award payable to any one
Covered Employee under the Plan for a Performance Cycle is 58,687 shares of Stock (subject to adjustment as provided in Section 3(c) hereof) or $1,500,000 in the case of a Performance-Based Award that is a Cash-Based Award. 

  
 13 

	SECTION 13.	DIVIDEND EQUIVALENT RIGHTS 

 (a) Dividend Equivalent Rights. The Administrator may
grant Dividend Equivalent Rights under the Plan. A Dividend Equivalent Right may be granted hereunder to any grantee as a component of an award of Restricted Stock Units or Performance Share Award or as a freestanding award. The terms and conditions
of Dividend Equivalent Rights shall be specified in the Award Certificate. Dividend equivalents credited to the holder of a Dividend Equivalent Right may be paid currently or may be deemed to be reinvested in additional shares of Stock, which may
thereafter accrue additional equivalents. Any such reinvestment shall be at Fair Market Value on the date of reinvestment or such other price as may then apply under a dividend reinvestment plan sponsored by the Company, if any. Dividend Equivalent
Rights may be settled in cash or shares of Stock or a combination thereof, in a single installment or installments. A Dividend Equivalent Right granted as a component of an Award of Restricted Stock Units or Performance Share Award shall provide
that such Dividend Equivalent Right shall be settled only upon settlement or payment of, or lapse of restrictions on, such other Award, and that such Dividend Equivalent Right shall expire or be forfeited or annulled under the same conditions as
such other Award. 
 (b) Termination. Except as may otherwise be provided by the Administrator either in the Award Certificate or,
subject to Section 18 below, in writing after the Award is issued, a grantee’s rights in all Dividend Equivalent Rights shall automatically terminate upon the grantee’s termination of employment (or cessation of service relationship)
with the Company and its Subsidiaries for any reason. 
  

	SECTION 14.	TRANSFERABILITY OF AWARDS 

 (a) Transferability. Except as provided in
Section 14(b) below, during a grantee’s lifetime, his or her Awards shall be exercisable only by the grantee, or by the grantee’s legal representative or guardian in the event of the grantee’s incapacity. No Awards shall be sold,
assigned, transferred or otherwise encumbered or disposed of by a grantee other than by will or by the laws of descent and distribution or pursuant to a domestic relations order. No Awards shall be subject, in whole or in part, to attachment,
execution, or levy of any kind, and any purported transfer in violation hereof shall be null and void. 
 (b) Administrator Action.
Notwithstanding Section 14(a), the Administrator, in its discretion, may provide either in the Award Certificate regarding a given Award or by subsequent written approval that the grantee (who is an employee or director) may transfer his or her
Non-Qualified Stock Options to his or her immediate family members, to trusts for the benefit of such family members, or to partnerships in which such family members are the only partners, provided that the transferee agrees in writing with the
Company to be bound by all of the terms and conditions of this Plan and the applicable Award. In no event may an Award be transferred by a grantee for value. 

(c) Family Member. For purposes of Section 14(b), “family member” shall mean a grantee’s child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the
grantee’s 

  
 14 

 
household (other than a tenant of the grantee), a trust in which these persons (or the grantee) have more than 50 percent of the beneficial interest, a foundation in which these persons (or the
grantee) control the management of assets, and any other entity in which these persons (or the grantee) own more than 50 percent of the voting interests. 

(d) Designation of Beneficiary. To the extent permitted by the Company, each grantee to whom an Award has been made under the Plan may
designate a beneficiary or beneficiaries to exercise any Award or receive any payment under any Award payable on or after the grantee’s death. Any such designation shall be on a form provided for that purpose by the Administrator and shall not
be effective until received by the Administrator. If no beneficiary has been designated by a deceased grantee, or if the designated beneficiaries have predeceased the grantee, the beneficiary shall be the grantee’s estate. 

 

	SECTION 15.	TAX WITHHOLDING 

 (a) Payment by Grantee. Each grantee shall, no later than the
date as of which the value of an Award or of any Stock or other amounts received thereunder first becomes includable in the gross income of the grantee for Federal income tax purposes, pay to the Company, or make arrangements satisfactory to the
Administrator regarding payment of, any Federal, state, or local taxes of any kind required by law to be withheld by the Company with respect to such income. The Company and its Subsidiaries shall, to the extent permitted by law, have the right to
deduct any such taxes from any payment of any kind otherwise due to the grantee. The Company’s obligation to deliver evidence of book entry (or stock certificates) to any grantee is subject to and conditioned on tax withholding obligations
being satisfied by the grantee. 
 (b) Payment in Stock. Subject to approval by the Administrator, a grantee may elect to have the
Company’s tax withholding obligation satisfied, in whole or in part, by authorizing the Company to withhold from shares of Stock to be issued pursuant to any Award a number of shares with an aggregate Fair Market Value (as of the date the
withholding is effected) that would satisfy the withholding amount due; provided, however, that to the extent necessary to avoid adverse accounting treatment such share withholding may be limited to the minimum required tax withholding obligation.
The Administrator may also require Awards to be subject to mandatory share withholding up to the required withholding amount. For purposes of share withholding, the Fair Market Value of withheld shares shall be determined in the same manner as the
value of Stock includible in income of the Participants. 
  

	SECTION 16.	SECTION 409A AWARDS 

 To the extent that any Award is determined to constitute
“nonqualified deferred compensation” within the meaning of Section 409A (a “409A Award”), the Award shall be subject to such additional rules and requirements as specified by the Administrator from time to time in order to
comply with Section 409A. In this regard, if any amount under a 409A Award is payable upon a “separation from service” (within the meaning of Section 409A) to a grantee who is then considered a “specified employee”
(within the meaning of Section 409A), then no such payment shall be made prior to the date that is the earlier of (i) six months and one day after the grantee’s separation from service, or (ii) the grantee’s death, but only
to the extent such delay is 

  
 15 

 
necessary to prevent such payment from being subject to interest, penalties and/or additional tax imposed pursuant to Section 409A. Further, the settlement of any such Award may not be
accelerated except to the extent permitted by Section 409A. 
  

	SECTION 17.	TERMINATION OF EMPLOYMENT, TRANSFER, LEAVE OF ABSENCE, ETC. 

 (a) Termination of
Employment. If the grantee’s employer ceases to be a Subsidiary, the grantee shall be deemed to have terminated employment for purposes of the Plan. 

(b) For purposes of the Plan, the following events shall not be deemed a termination of employment: 

(i) a transfer to the employment of the Company from a Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to another; or

 (ii) an approved leave of absence for military service or sickness, or for any other purpose approved by the Company, if the
employee’s right to re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Administrator otherwise so provides in writing. 

 

	SECTION 18.	AMENDMENTS AND TERMINATION 

 The Board may, at any time, amend or discontinue the Plan
and the Administrator may, at any time, amend or cancel any outstanding Award for the purpose of satisfying changes in law or for any other lawful purpose, but no such action shall adversely affect rights under any outstanding Award without the
holder’s consent. Except as provided in Section 3(c) or 3(d), without prior stockholder approval, in no event may the Administrator exercise its discretion to reduce the exercise price of outstanding Stock Options or Stock Appreciation
Rights or effect repricing through cancellation and re-grants or cancellation of Stock Options or Stock Appreciation Rights in exchange for cash or other Awards. To the extent required under the rules of any securities exchange or market system on
which the Stock is listed, to the extent determined by the Administrator to be required by the Code to ensure that Incentive Stock Options granted under the Plan are qualified under Section 422 of the Code, or to ensure that compensation earned
under Awards qualifies as performance-based compensation under Section 162(m) of the Code, Plan amendments shall be subject to approval by the Company stockholders entitled to vote at a meeting of stockholders. Nothing in this Section 18
shall limit the Administrator’s authority to take any action permitted pursuant to Section 3(c) or 3(d). 
  

	SECTION 19.	STATUS OF PLAN 

 With respect to the portion of any Award that has not been exercised and
any payments in cash, Stock or other consideration not received by a grantee, a grantee shall have no rights greater than those of a general creditor of the Company unless the Administrator shall otherwise expressly determine in connection with any
Award or Awards. In its sole discretion, the Administrator may authorize the creation of trusts or other arrangements to meet the Company’s obligations to deliver Stock or make payments with respect to Awards hereunder, provided that the
existence of such trusts or other arrangements is consistent with the foregoing sentence. 

  
 16 

	SECTION 20.	GENERAL PROVISIONS 

 (a) No Distribution. The Administrator may require each
person acquiring Stock pursuant to an Award to represent to and agree with the Company in writing that such person is acquiring the shares without a view to distribution thereof. 

(b) Delivery of Stock Certificates. Stock certificates to grantees under this Plan shall be deemed delivered for all purposes when the
Company or a stock transfer agent of the Company shall have mailed such certificates in the United States mail, addressed to the grantee, at the grantee’s last known address on file with the Company. Uncertificated Stock shall be deemed
delivered for all purposes when the Company or a Stock transfer agent of the Company shall have given to the grantee by electronic mail (with proof of receipt) or by United States mail, addressed to the grantee, at the grantee’s last known
address on file with the Company, notice of issuance and recorded the issuance in its records (which may include electronic “book entry” records). Notwithstanding anything herein to the contrary, the Company shall not be required to issue
or deliver any certificates evidencing shares of Stock pursuant to the exercise of any Award, unless and until the Administrator has determined, with advice of counsel (to the extent the Administrator deems such advice necessary or advisable), that
the issuance and delivery of such certificates is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the shares of Stock are listed, quoted or traded. All
Stock certificates delivered pursuant to the Plan shall be subject to any stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with federal, state or foreign jurisdiction, securities or other laws,
rules and quotation system on which the Stock is listed, quoted or traded. The Administrator may place legends on any Stock certificate to reference restrictions applicable to the Stock. In addition to the terms and conditions provided herein, the
Administrator may require that an individual make such reasonable covenants, agreements, and representations as the Administrator, in its discretion, deems necessary or advisable in order to comply with any such laws, regulations, or requirements.
The Administrator shall have the right to require any individual to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including a window-period limitation, as may be imposed in the discretion of
the Administrator. 
 (c) Stockholder Rights. Until Stock is deemed delivered in accordance with Section 20(b), no right to vote
or receive dividends or any other rights of a stockholder will exist with respect to shares of Stock to be issued in connection with an Award, notwithstanding the exercise of a Stock Option or any other action by the grantee with respect to an
Award. 
 (d) Other Compensation Arrangements; No Employment Rights. Nothing contained in this Plan shall prevent the Board from
adopting other or additional compensation arrangements, including trusts, and such arrangements may be either generally applicable or applicable only in specific cases. The adoption of this Plan and the grant of Awards do not confer upon any
employee any right to continued employment with the Company or any Subsidiary. 

  
 17 

 (e) Trading Policy Restrictions. Option exercises and other Awards under the Plan shall be
subject to the Company’s insider trading policies and procedures, as in effect from time to time. 
 (f) Clawback Policy. Awards
under the Plan shall be subject to any applicable clawback policy of the Company, as such may be in effect from time to time. 
 (g)
Regulatory Requirements. The grant and settlement of Awards under the Plan shall be conditioned upon and subject to compliance with Section 18(k) of the Federal Deposit Insurance Act, 12. U.S. 1828(k), and the rules and regulations
promulgated thereunder. 
  

	SECTION 21.	EFFECTIVE DATE OF PLAN 

 This Plan shall become effective upon stockholder approval in
accordance with applicable state law, the Company’s bylaws and articles of incorporation, and applicable stock exchange rules. No grants of Stock Options and other Awards may be made hereunder after the tenth anniversary of the Effective Date
and no grants of Incentive Stock Options may be made hereunder after the tenth anniversary of the date the Plan is approved by the Board. 
  

	SECTION 22.	GOVERNING LAW 

 This Plan and all Awards and actions taken thereunder shall be governed
by, and construed in accordance with, the laws of the Commonwealth of Massachusetts, applied without regard to conflict of law principles. 
 DATE APPROVED
BY BOARD OF DIRECTORS: May 23, 2017 
 DATE APPROVED BY STOCKHOLDERS: August 21, 2017 

  
 18

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