Document:

The Finish Line, Inc. Non-Employee Director Stock Option Plan

 Exhibit 10.9 

THE FINISH LINE, INC. 

NON-QUALIFIED STOCK OPTION AGREEMENT 

Pursuant to the 

NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN 

This Non-Qualified Stock Option Agreement (“Agreement”) is made and entered into as the Date of Grant indicated below by and between The Finish
Line, Inc., a Delaware corporation (the “Company”), and the person named below as Optionee. 
 WHEREAS, Optionee is a
non-employee director (“Non-Employee Director”) of the Company; and 
 WHEREAS, pursuant to the Company’s Non-Employee
Director Stock Option Plan (the “Plan”), an option to purchase shares of the Class A Common, $.01 par value, of the Company (the “Class A Common Shares”), has been granted to Optionee on the terms and conditions set forth
herein. 
 NOW, THEREFORE, in consideration of the foregoing recitals and the covenants set forth herein, the parties hereto hereby agree
as follows: 
 1. Grant of Option; Certain Terms and Conditions. The Company hereby grants to Optionee, and Optionee hereby
accepts, as of the Date of Grant indicated below, an option (the “Option”) to purchase the number of Class A Common Shares indicated below (the “Option Shares”) at the Exercise Price per share indicated below. The Option
shall expire at 5:00 p.m., Indianapolis time, on the Expiration Date indicated below and shall be subject to all of the terms and conditions set forth in this Agreement. 

Optionee: 
 Date of Grant: 

Number of Class 
 A Common Shares 

Purchasable: 
 Exercise Price 

Per Share: 
 Expiration Date: 

Vesting Rate: 
  

 1 

 2. Non-Qualified Stock Option. 

The Option is not intended to qualify as an incentive stock option under Section 422 of the Internal Revenue Code (the “Code”). 

3. Acceleration and Termination of Option. 

(a) Termination of Directorship Status. If Optionee ceases to be a Non-Employee Director for any reason, then the Option shall
terminate on the earlier of the Expiration Date or the first anniversary of the date upon which Optionee ceases to be a Non-Employee Director. 

(b) Death Following Termination. Notwithstanding anything to the contrary in this Agreement, if Optionee shall die at any time
after the date on which he ceases to be a Non-Employee Director and prior to the Expiration Date, then, the remaining vested but unexercised portion of this Option shall terminate on the earlier of the Expiration Date or the first anniversary of the
date of such death. 
 (c) Acceleration of Option. The Option shall become fully exercisable immediately prior to a
Change in Control. A Change in Control shall mean: a reorganization, merger (not including a merger to effectuate a reincorporation of the Company) or consolidation of the Company as a result of which the outstanding securities of the class then
subject to the Plan are exchanged for or converted into cash, property an/or securities not issued by the Company, unless such reorganization, merger or consolidation shall have been affirmatively recommended to the stockholders of the Company by
the Board. 
 (d) Termination of Option. The Option shall terminate upon the occurrence of a Termination Event. A
Termination Event shall mean either: 
 (i) the dissolution or liquidation of the Company; 

(ii) a reorganization, merger (not including a merger to effectuate a reincorporation of the Company) or consolidation of the Company as a
result of which the outstanding securities of the class then subject to the Plan are exchanged for or converted into cash, property and/or securities not issued by the Company, which reorganization, merger or consolidation shall have been
affirmatively recommended to the stockholders of the Company by the Board, unless the terms of such reorganization, merger or consolidation shall provide otherwise; or 

(iii) a sale of all or substantially all of the property and assets of the Company, unless the terms of such sale shall provide otherwise.

 4. Adjustments. In the event that the Class A Common Shares are increased, decreased or exchanged for or converted into cash,
property or a different number or kind of securities, or if cash, property or securities are distributed in respect of such outstanding Class A Common Shares, in either case as a result of a restructuring, reclassification, dividend (other than
a regular, quarterly cash dividend) or other distribution, stock split, reverse stock split or the like, or if substantially all of the property and assets of the Company are sold, then, unless such transaction shall provide otherwise, the Board
shall make appropriate and proportionate adjustments in the number and type of shares or other securities or cash or other property that may be acquired upon the exercise in full of the Option. 

 

 2 

 Notwithstanding the above, in the event the Company engages in a recapitalization or similar transaction
wherein its Class A Common Shares are divided into two classes with different voting rights, the Option shall be exercisable into that class of common stock having fewer votes per share. 

5. Exercise. The Option shall be exercisable during Optionee’s lifetime only by Optionee or by his or her guardian or legal representative,
and after Optionee’s death only by the person or entity entitled to do so under Optionee’s last will and testament or applicable intestate law. The Option may only be exercised by the delivery to the Company of a written notice of such
exercise pursuant to the notice procedures set forth in Section 7 hereof, which notice shall specify the number of Option Shares to be purchased (the “Purchased Shares”) and the aggregate Exercise Price for such shares (the
“Exercise Price”), together with payment in full of such aggregate Exercise Price in cash or check payable to the Company. 
 6.
Payment of Withholding Taxes. If the Company becomes obligated to withhold an amount on account of any federal, state or local income tax imposed as a result of the exercise of the Option (such amount shall be referred to herein as the
“Withholding Liability”), Optionee shall pay the Withholding Liability to the Company in full in cash or check payable to the Company on the first date upon which the Company becomes obligated to pay such amount withheld to the appropriate
taxing authority, and the Company may delay issuing the Class A Common Shares pursuant to such exercise until it receives the Withholding Liability from Optionee. 

7. Notices. Any notices given to the Company shall be addressed to the Company at 3308 North Mitthoeffer Road, Indianapolis, Indiana 46236,
Attention: Secretary, and to Optionee at the address set forth below Optionee’s signature hereto, or at such other address as Optionee may hereafter designate in writing to the Company. Any such notice shall be deemed duly given when sent by
prepaid certified or registered mail and deposited in a post office or branch post office regularly maintained by the United States Government. 

8. Stock Exchange Requirements; Applicable Laws. Notwithstanding anything to the contrary in this Agreement, no shares of stock purchased upon
exercise of the Option, and no certificate representing all or any part of such shares, shall be issued or delivered if (a) such shares have not been admitted to or listed under each stock exchange upon which shares of that class are then
listed or (b) in the opinion of counsel to the Company such issuances would be in violation of any federal, state or other securities law, or any requirement of any stock exchange listing agreement to which the Company is a party, or any other
requirement of law or of any administrative or regulatory body having jurisdiction over the Company. 
 9. Nontransferrability. Neither
the Option nor any interest therein may be sold, assigned, conveyed, gifted, pledged, hypothecated or otherwise transferred in any manner other than by will or the laws of descent and distribution. 

10. The Plan. THE OPTION IS GRANTED PURSUANT TO THE NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN, AS IN EFFECT ON THE DATE OF GRANT, AND IS SUBJECT TO
ALL THE TERMS AND CONDITIONS OF THE PLAN AS THE SAME MAY BE AMENDED FROM TIME TO TIME; PROVIDED, HOWEVER, THAT NO SUCH AMENDMENT SHALL DEPRIVE OPTIONEE, WITHOUT HIS OR HER CONSENT, OF THE OPTION OR OF ANY OF OPTIONEE’S RIGHTS UNDER THIS
AGREEMENT. THE INTERPRETATION AND CONSTRUCTION BY THE BOARD OF THE PLAN, THIS 
  

 3 

 
AGREEMENT, THE OPTION AND SUCH RULES AND REGULATIONS AS MAY BE ADOPTED BY THE BOARD FOR THE PURPOSE OF ADMINISTERING THE PLAN SHALL BE FINAL AND BINDING UPON OPTIONEE. UNTIL THE OPTION SHALL
EXPIRE, TERMINATE OR BE EXERCISED IN FULL, THE COMPANY SHALL, UPON WRITTEN REQUEST THEREFORE, SEND A COPY OF THE PLAN, IN ITS THEN-CURRENT FORM, TO OPTIONEE OR ANY OTHER PERSON OR ENTITY THEN ENTITLED TO EXERCISE THE OPTION. 

11. Fractional Shares. The Company shall not be required to issue a fraction of a Class A Common Share in connection with the exercise of the
Option. In any case where the Optionee would be entitled to receive a fraction of a Class A Common Share upon the exercise of the Option, the Company shall instead, upon the exercise of the Option, issue the largest whole number of Class A
Common Shares purchasable upon exercise of the Option, and pay to the Optionee in cash the Fair Market Value (as determined by the Board) of such fraction of a Class A Common Share at the time of exercise of the Option. 

12. Stockholder Rights. No person or entity shall be entitled to vote, receive dividends or be deemed for any purpose the holder of any Option
Shares until the Option shall have been duly exercised to purchase such Option Shares in accordance with the provisions of this Agreement. 

13. Governing Law. This Agreement and the Option granted hereunder shall be governed by and construed and enforced in accordance with the laws of
the State of Delaware. 
 14. Entire Agreement. This Agreement constitutes the entire agreement of the parties with respect to the
matters covered herein and supersedes all prior written or oral agreements or understandings of the parties with respect to the matters covered herein. 

IN WITNESS WHEREOF, the Company and Optionee have duly executed this Agreement as of the Date of Grant. 

 

							
	THE FINISH LINE, INC.	 		 	OPTIONEE
				
	By	 	  
	 		 	  

	NAME:	 	Steven J. Schneider	 		 	Signature
	TITLE:	 	Sr. Vice President Finance	 		 	
		 		 		 	  

  

 4The Finish Line, Inc. Employee Stock Purchase Plan

 Exhibit 10.10 

THE FINISH LINE, INC. 

EMPLOYEE STOCK PURCHASE PLAN 

WITNESSETH: 

WHEREAS, The Finish Line, Inc. (“Corporation”) desires to provide eligible employees of the Corporation and its subsidiaries
interest in the Corporation through the purchase of shares of common stock of the Corporation (“Common Stock”); and 

WHEREAS, the Corporation desires to offer further inducement to eligible employees to remain as employees by providing a plan for the
purchase of Common Stock at a discounted rate. 
 NOW, THEREFORE, the Corporation hereby establishes this Employee Stock
Purchase Plan (the “Plan”) pursuant to the provisions of Section 423 of the Internal Revenue Code of 1986, as amended, as follows: 

ARTICLE I 

ESTABLISHMENT OF PLAN 

The Plan is hereby established effective as of the date the registration of the Common Stock to be issued hereunder is declared effective
by the Securities and Exchange Commission; provided, however, that this Plan shall not become effective unless it has received the approval of the holders of a majority of the issued and outstanding Common Stock of the Corporation who are either
present or represented and entitled to vote at a meeting of shareholders of the Corporation duly held within twelve (12) months after the date the Plan is adopted by the Board of Directors of the Corporation. 

ARTICLE II 

DEFINITIONS AND CONSTRUCTION 

Section 2.01. Definitions. When the initial letter of a word or phrase is capitalized, the meaning of such word or phrase
shall be as follows: 
 (a) “Account” means one or more bookkeeping accounts where a recording of each
Participant’s interest in the Plan, consisting of the sum of the Participant’s payroll deductions under the Plan and the number of shares of Common Stock purchased by the Participant, all of which shall be maintained by the Custodian. Each
Account shall be in the name of the Participant or, if permitted by the Committee and so indicated on his or her enrollment form, in his or her name jointly with a member of his or her family, with right of survivorship. If permitted by the
Committee, a Participant who is a resident of a jurisdiction which does not recognize such a joint tenancy may have an Account in his or her name as tenant in common with a member of his or her family, without rights of survivorship. 

(b) “Act” means the Securities Exchange Act of 1934, as amended. 

(c) “Board of Directors” means the board of directors of the Corporation as it shall exist from time to time. 

(d) “Code” means the Internal Revenue Code of 1986, as amended or any subsequently enacted federal revenue law.

 (e) “Committee” means the Compensation and Stock Option Committee of the Board of Directors, provided that,
if any member of the Committee does not qualify as both an outside director for purposes of Code Section 162(m) and a non-employee director for purposes of Rule 16b-3 of the Act, the remaining members of the Committee (but not less than
two members) shall be constituted as a subcommittee of the Committee to act as the Committee for purposes of the Plan. 
 (f)
“Common Stock” means the shares of Class A Common Stock, no par value, of the Corporation. 
 (g)
“Corporation” means The Finish Line, Inc., an Indiana corporation, and its successors (by merger, consolidation or otherwise) and assigns. 

(h) “Custodian” means any party designated by the Committee pursuant to Section 7.02 to act as custodian of the
Plan. 
 (i) “Effective Date” means the effective date of this Plan, which is the date the registration of
shares of Common Stock to be issued hereunder with the Securities and Exchange Commission is declared effective. 

 (j) “Eligible Employee” means any person employed by the Corporation or any
of its subsidiaries or controlled entities (as designated by the Committee) except for: 
 (1) employees who have been
employed less than six (6) months; or 
 (2) employees whose customary employment is twenty (20) hours or less
per week. 
 (k) “Fair Market Value” means the closing trading price of a share of Common Stock as reported on
any national securities exchange on which the shares are listed (or, if listed on more than one such exchange, then on the one located in New York City), or if not so listed, the closing price reported on the National Association of Securities
Dealers, Inc., Automated Quotations System (Nasdaq). 
 (l) “Offering Date” means the first business day in
January of each calendar year during the Plan Term on which Fair Market Value can be determined and Common Stock is offered for purchase hereunder and/or such other date or dates selected by the Committee from time to time or which Common Stock is
offered for purchase hereunder (with Fair Market Value determined on such date or, if not quoted on such date, on the last day prior thereto on which Fair Market Value is quoted); provided, however, for the year 2004 the Offering Date means
September 1, 2004 or the first business day thereafter selected by the Committee on which Fair Market Value can be determined. 

(m) “Participant” means an Eligible Employee who (i) authorizes the Corporation to make payroll deductions from Plan
Compensation for the purpose of purchasing Common Stock pursuant to the Plan, (ii) has commenced participation in the Plan pursuant to Section 3.01, and (iii) has not incurred a withdrawal, voluntary or involuntary, pursuant to
Article VI. 
 (n) “Payday” means the date on which an Eligible Employee receives any Plan Compensation.

 (o) “Plan” means this The Finish Line, Inc. Employee Stock Purchase Plan. 

(p) “Plan Compensation” means all compensation paid by the Corporation or any subsidiary to an employee through their
respective payroll systems for services as an employee, including wages, salary, incentive compensation and bonuses, but excluding therefrom profit sharing payments, stock incentive program payments and all other fringe benefit payments. 

(q) “Plan Term” means the period from September 1, 2004 to and including December 31, 2014. 

(r) “Purchase Date” means the last business day in December of each calendar year during the Plan Term on which Fair
Market Value can be determined and in which Common Stock is acquired hereunder and/or such other date or dates selected by the Committee from time to time on which Common Stock is acquired hereunder (with Fair Market Value determined on such date
or, if not quoted on such date, on the last day prior thereto on which Fair Market Value is quoted). 
 (s) “Purchase
Price” means the price per share of Common Stock for purchase by Participants as defined in Section 5.02. 
 (t)
“Section,” when not preceded by the word “Code,” means a section of this Plan. 

Section 2.02. Construction and Governing Law. 

(a) This Plan shall be construed, enforced and administered and the validity thereof determined in accordance with the Code and the
regulations thereunder, and in accordance with the laws of the State of Indiana when such laws are not inconsistent with the Code. 

(b) This Plan is intended to qualify as an employee stock purchase plan under Code Section 423 and the regulations thereunder.
The provisions of the Plan shall be construed so as to fulfill this intention. 
 ARTICLE III 

PARTICIPATION 

Section 3.01. Participation. Any person who is an Eligible Employee as of any Offering Date under this Plan may become a
Participant in this Plan beginning on such Offering Date by completing and delivering to the Committee such enrollment form(s) as the Committee shall require to authorize payroll deductions and to request participation in this Plan, all within the
time period prior to such Offering Date prescribed by the Committee. 

 Section 3.02. Payroll Deductions.  

(a) Payroll deductions for a Participant shall commence on the first Payday after the Offering Date when the Eligible Employee
becomes a Participant and shall continue thereafter until the earlier of (i) the termination of this Plan, as provided in Section 8.02, or (ii) the date the Participant suspends his or her payroll deductions pursuant to paragraph
(b) of this Section 3.02. Each Participant shall authorize his or her employer to make deductions from Participant’s Plan Compensation on each Payday during such time as he or she is a Participant in the Plan at even rates from 2%
through 10% of the Participant’s Plan Compensation. 
 (b) A Participant may increase, decrease or suspend his or her
payroll deduction one time only between Offering Dates during participation effective as of the Payday following delivery of written notice to the Committee, or as soon as administratively reasonable thereafter. A Participant’s suspension of
payroll deductions shall not automatically result in withdrawal from participation in the Plan. If a Participant, on any scheduled Payday, shall receive no pay or his or her net pay shall be insufficient, after all required deductions, to permit
withholding the payroll deduction in full as authorized hereunder and in the enrollment form, the Corporation or its subsidiary shall (i) if the pay is insufficient for any deduction hereunder, suspend the deduction until the next Payday in
which Participant’s net pay is sufficient for such withholding, or (ii) if the pay is insufficient for a full deduction hereunder, effect a partial deduction equal to the net pay available for such deduction; provided, however, that no
withdrawal shall be deemed to have occurred in either event. If no deduction or if a partial deduction is effected, no carryover of the balance of the authorized deduction shall occur. 

Section 3.03. Participant’s Account. On each Payday, the Corporation or its subsidiary, as the case may be, shall deduct
the authorized amount from each Participant’s Plan Compensation and, as soon as administratively reasonable, shall report the amount of such deductions to the Custodian. The Custodian shall credit the Account of each Participant with the amount
of the Participant’s payroll deduction under the Plan effective as of the Payday on which it was deducted. Interest may be earned and retained by the Corporation but interest shall not be paid on amounts held in a Participant’s Account.

 ARTICLE IV 

COMMON STOCK 

The shares subject to issuance under this Plan shall be Common Stock. The total number of shares of Common Stock which may be purchased
under this Plan shall not exceed in the aggregate one million two hundred thousand (1,200,000) shares, of which not more than one hundred twenty thousand (120,000) shares of Common Stock shall be issued in any one calendar year during the
Plan Term, except as such numbers of shares of Common Stock shall be or have been adjusted in accordance with Sections 5.01(a) and 8.01 of this Plan. In the event the aggregate number of shares of Common Stock issuable for any calendar year
shall exceed one hundred twenty thousand (120,000) shares of Common Stock (adjusted pursuant to Sections 5.01(a) and 8.01 of the Plan) (the “Annual Maximum”), the Committee shall reduce proportionately each Participant’s
purchase hereunder to the extent necessary so that the aggregate number of shares of Common Stock will not exceed the Annual Maximum (allocated proportionately for each Purchase Date during each calendar) and if any such reduction results in cash
credited to a Participant’s Account, such cash credited shall remain credited to the Participant’s Account and be used to purchase Common Stock on the next Purchase Date. Common Stock required to satisfy purchases pursuant to the Plan
shall be provided out of the Corporation’s authorized and unissued shares or treasury shares or acquired by the Corporation in open market transactions or private transactions. If shares of Common Stock are purchased in one or more transactions
on the open market or in private transactions at the direction of the Committee, the Corporation will pay the difference between the Purchase Price and the price at which such shares are purchased for Participants. 

ARTICLE V 

PURCHASE OF COMMON STOCK 

Section 5.01. The Offering.  

(a) The Corporation shall offer an aggregate of one hundred twenty thousand (120,000) shares of Common Stock for purchase by
Participants during each calendar year pursuant to the terms of this Plan; provided, however, for calendar year 2004 the Corporation shall offer an aggregate of forty thousand (40,000) shares of Common Stock for purchase by Participants. The
number of shares of Common Stock offered annually hereunder shall be increased by the aggregate number of shares of Common Stock, if any, which were offered but not purchased during prior calendar years and shall be subject to further adjustment in
accordance with Section 8.01 of this Plan. 

 (b) Notwithstanding any provision in this Plan to the contrary: 

(1) a Participant may not purchase Common Stock hereunder to the extent that, after such purchase, the Participant would own (or be
considered to own) of record or beneficially shares in the Corporation possessing five percent (5%) or more of the total combined voting power or value of all classes of shares of the Corporation, within the meaning of Code
Section 423(b)(3); and (2) no Participant may purchase, during any one calendar year, shares under all employee stock purchase plans of the Corporation and its subsidiaries to accrue at a rate which exceeds Twenty Five Thousand Dollars
($25,000) of Fair Market Value of shares of Common Stock (determined at the Offering Date), within the meaning of Code Section 423(b)(8). 

Section 5.02. Purchase Price. The “Purchase Price” for Common Stock purchased shall be equal to 85% of Fair Market
Value per share of the Common Stock on the Purchase Date. 
 Section 5.03. Purchase of Common Stock; Limitations. 

 (a) Within ten (10) days following each Purchase Date during the Plan Term, the Committee shall determine the
Purchase Price per share of Common Stock in accordance with Section 5.02 herein. Each Participant shall thereupon automatically purchase from the Corporation and the Corporation, upon payment of the purchase price by the Custodian, shall cause
to be issued to the Participant, as promptly as administratively possible, that number of shares (including fractional shares unless otherwise determined by the Committee) of Common Stock which such Participant’s Account shall enable such
Participant to purchase at the Purchase Price. Irrespective of the actual date of purchase, the date of purchase of Common Stock hereunder shall be deemed the Purchase Date. All shares purchased shall be maintained by the Custodian in the Account
for each Participant. All cash dividends paid with respect to shares of the Common Stock held in the Account shall be added to the Participant’s Account and shall be used to purchase shares of Common Stock at the next Purchase Date. Expenses
incurred in the purchase of such shares shall be paid by the Corporation. All dividends distributed in-kind with respect to Common Stock held in the Account shall be added to the shares held for a Participant in his or her Account. Any distribution
of shares with respect to shares of Common Stock held for a Participant in his or her Account shall be added to the shares of Common Stock held for a Participant in his or her Account. 

(b) No Eligible Employee may purchase annually more than 1,000 shares of Common Stock, or Common Stock having a Fair Market Value in
excess of Ten Thousand Dollars ($10,000), whichever is less. 
 (c) A Participant shall have no interest in, or rights as a
shareholder with respect to, Common Stock subject to purchase under this Plan until such shares of Common Stock have been issued to the Participant. 

Section 5.04. Sale of Common Stock. Unless otherwise prohibited by law or policy of the Corporation, a Participant shall have
the right at any time to direct that any shares of Common Stock in his or her Account be sold and that the proceeds, less expenses of sale, be remitted to him or her. 

ARTICLE VI 

WITHDRAWAL 

Section 6.01. Voluntary Withdrawal. A Participant may withdraw from participation in the Plan at any time. A
Participant’s withdrawal shall be effective as of the Payday following delivery of written notice to the Committee, or as soon as administratively reasonable thereafter. The Committee shall notify the Custodian of the withdrawal of any
Participant. As soon as administratively reasonable after the effective date of a Participant’s withdrawal from the Plan, the cash balance of the Participant’s Account shall be paid to him or her in cash. No partial withdrawals of each are
permitted. When there is a voluntary withdrawal of a Participant, the Participant may elect to have his or her shares sold by the Custodian and the proceeds, after selling expenses, remitted to him or her or the Participant may elect to have the
shares of Common Stock credited to his or her Account or a certificate (if the Company Stock is certificated) for the shares of Common Stock credited to the Participant’s Account forwarded to him or her or a third party directed by him or her.
Any Eligible Employee who withdraws from the Plan shall be entitled to resume payroll deductions and become a Participant only after compliance with Section 3.01. 

 Section 6.02. Involuntary Withdrawal. Upon termination of a Participant’s
employment with the Corporation or its subsidiaries for any reason, or no reason, including resignation, discharge (with or without cause), disability or retirement, the cash balance of the Participant’s Account shall be paid to the
Participant, or, in the case of the Participant’s death, to the Participant’s beneficiary as provided in Section 6.04. The Corporation or the Custodian shall pay such amount as soon as administratively reasonable after the Committee
has received notification of such termination of employment. When there is an involuntary withdrawal of a Participant, the number of shares of Common Stock credited to his or her Account shall be forwarded to him or her or in the case of the
Participant’s death to the Participant’s beneficiary as provided in Section 6.04, in a form determined by the Committee. 

Section 6.03. Interest. No payroll deductions or Account balances paid to a Participant, or paid to any beneficiary in
accordance with Section 6.04, shall be credited with interest. 
 Section 6.04. Participant’s Beneficiary.
 
 (a) A Participant may file with the Committee a written designation of a beneficiary who is to receive any Common
Stock or cash credited to the Participant’s Account under this Plan in the event of the Participant’s death. Such designation of beneficiary may be changed by the Participant at any time by written notice to the Committee on the form
approved by the Committee. 
 (b) Upon the death of a Participant, and on receipt by the Committee of reasonable proof of
the identity and existence of the Participant’s designated beneficiary, the Committee shall cause delivery of the shares or cash as provided in Section 6.04(a), if any, to such beneficiary as soon as administratively reasonable. If a
Participant dies without a surviving designated beneficiary, the Committee shall cause delivery of such shares or cash to the estate or a representative of the estate of the Participant. 

(c) No designated beneficiary and no heir or beneficiary of the estate of a deceased Participant shall acquire any interest in the
Common Stock or cash credited to the Participant’s Account under this Plan prior to the death of the Participant. 

ARTICLE VII 

PLAN ADMINISTRATION 

Section 7.01. Administrative Committee. 

(a) The Plan shall be administered, at the expense of the Corporation, by the Committee. 

(b) The Committee shall be vested with full authority to take any and all actions necessary to implement this Plan and to interpret
this Plan and make, administer and interpret such rules and regulations as it deems necessary to administer the Plan. Any determination, construction, interpretation, administration, or application of the Plan by the Committee shall be final,
conclusive and binding on all Participants, beneficiaries and any and all other persons claiming under or through any Participant. The Committee may delegate administration of this Plan to one or more employees or positions of the Corporation.

 (c) Service on the Committee shall constitute service as a director of the Corporation so that members of the Committee
shall be entitled to such indemnification and reimbursement as directors of the Corporation as provided in its Articles of Incorporation and/or Bylaws. 

Section 7.02. Custodian. 

(a) The Committee, in its sole discretion, shall appoint a Custodian. The Custodian may be removed by the Committee at any time.

 (b) The Custodian shall keep or cause to be kept accurate and detailed bookkeeping accounts of all contributions,
receipts, disbursements and transfers of cash and shares of Common Stock under the Plan, and all bookkeeping accounts, books and records relating thereto shall be open to inspection and audit at all reasonable times by any person designated by the
Board of Directors or the Committee. 
 Section 7.03. Transferability. Neither payroll deductions credited to a
Participant’s Account nor any rights with regard to the purchase or receipt of Common Stock under this Plan may be assigned, transferred, pledged or otherwise disposed of in any way by the Participant, except with respect to the death of the
Participant as provided in Sections 6.02 and 6.04. Any such attempted assignment, transfer, pledge, or other disposition shall be without effect, except that the Committee, in its sole discretion, may treat such act as an election to withdraw
from the Plan in accordance with Section 6.01. 

 Section 7.04. Separate Accounting for Payroll Deductions. All funds received or
held by the Corporation under this Plan may be used for the Corporation’s general corporate purposes, and the Corporation shall not be obligated to segregate such payroll deductions. 

Section 7.05. Only Employees Eligible To Participate. Notwithstanding any other provision of the Plan, to be eligible to
purchase Common Stock hereunder as of a Purchase Date, a Participant must remain an employee at all times from the Offering Date through such Purchase Date. 

Section 7.06. Equal Rights and Privileges. Notwithstanding any other provision of the Plan, all Eligible Employees shall have
the same rights and privileges under the Plan, as required by Code Section 423 and the regulations thereunder, and the Committee shall administer the Plan and interpret and apply the provisions of the Plan accordingly. 

ARTICLE VIII 

AMENDMENT AND TERMINATION 

Section 8.01. Adjustment of Stock. In the event of any change after the effective date of the Plan in the outstanding shares
of the Corporation by reason of any reorganization, recapitalization, stock split, stock dividend, combination of shares, exchange of shares, merger or consolidation, liquidation, or any other change after the effective date of the Plan in the
nature of the Common Stock of the Corporation, the Committee shall make a corresponding adjustment in the number and kind of shares reserved under this Plan, and in the purchase price and the number and kind of shares covered by outstanding purchase
commitments under this Plan as determined by the Committee. Any determination by the Committee hereunder shall be conclusive, final and binding on all persons. If the Corporation is a party to a consolidation or a merger in which the Corporation is
not the surviving corporation, a transaction that results in the acquisition of substantially all of the Corporation’s outstanding stock by a single person or group, or a sale or transfer of substantially all of the Corporation’s assets,
the Committee may take such actions with respect to this Plan as the Committee deems appropriate. 
 Section 8.02.
Amendment and Termination. 
 (a) The Board of Directors, except any members participating in this Plan, may at any time
and from time to time, alter, amend, suspend, or terminate this Plan in any way; provided, however, that if this Plan is terminated the effective date of termination shall be immediately after the next Purchase Date; provided further, that the Board
of Directors may not, without approval by the holders of the issued and outstanding shares of Common Stock: 
 (1) increase
the maximum number of shares of Common Stock which may be issued under this Plan (other than to reflect adjustment permitted under Section 8.01 hereof); 

(2) change the class of shares which may be issued under this Plan; 

(3) change the designation of the persons or class of persons eligible to participate and receive Common Stock under this Plan
(except as permitted under Section 2.01 (i)(1) hereof); or 
 (4) change the provision of Section 5.02 concerning
the Purchase Price, 
 (b) Unless earlier terminated by the Board of Directors pursuant to paragraph (a) of this
Section 8.02, this Plan will terminate on the earlier of: (i) the last day of the Plan Term, or (ii) the date on which the authorized remaining Common Stock reserved for this Plan are not sufficient to enable each Participant on such
date to purchase at least one share of Common Stock. No purchases of Common Stock shall be made after the termination of this Plan. 

ARTICLE IX 

MISCELLANEOUS 

Section 9.01. Notices. All notices or other communications by a Participant to the Committee under or in connection with the
Plan shall be deemed to have been duly given when received by the Secretary of the Board of Directors of the Corporation or when received in the form and at the location or by the person specified by the Committee. Any notices or other
communications by the Committee to a Participant under or in connection with this Plan shall be deemed to have been duly given when mailed by the Committee to the most recent address of the Participant on the business records of the Corporation.

 Section 9.02. No Right To Continued Employment. Neither enrollment in the Plan,
the purchase of Common Stock hereunder, nor participation otherwise in the Plan shall impose any obligation on the Corporation or any subsidiary to continue to employ any person. 

Section 9.03. Notice of Sale. As a condition of participation in this Plan, each Participant agrees to notify the Corporation
if he or she sells or otherwise disposes of any of his or her shares of Common Stock purchased pursuant to this Plan within two years of the Offering Date on which such shares were offered or within one year of the Purchase Date on which such shares
were purchased. Notwithstanding anything herein to the contrary, the Corporation (or employer) shall have the right to satisfy any obligations to withhold taxes incurred by reason of the issuance and/or sale of Common Stock hereunder.

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