Document:

EX-10.1

 Exhibit 10.1 

F.N.B. CORPORATION 

Restricted Stock Unit Award Agreement 

Relative Return on Average Tangible Common Equity (“ROATCE”) 

Performance-Based 
 This
Restricted Stock Unit Award Agreement (this “Agreement”) is made effective as of December 16, 2015, between F.N.B. Corporation (“F.N.B.”), a Florida corporation, and
                     (the “Participant”). Any term capitalized herein but not defined will have the meaning set forth in the Plan or in the
attached Schedules to this Agreement. 
  

	I.	Grant 

  

			
	 Grant Date:
	 	December 16, 2015

  

	II.	Participant Information 

  

			
	 Participant:
	 	

  

	III.	Grant Information 

  

			
	 Target Amount:
	 	             Restricted Stock Units
		
	 Performance Metric:
	 	F.N.B.’s total return on average tangible common equity in calendar year 2018 (“2018 ROATCE”) relative to the group of Peer Financial Institutions’ 2018 ROATCE performance described in Schedule 2 of this
Agreement.
		
	 Performance Period:
	 	January 1, 2016 to December 31, 2018
		
	 Vesting Date
	 	January 16, 2019, subject to satisfying the Vesting Requirements described in Section 3 of Schedule 1 of this Agreement, except as otherwise provided in Section 4 of Schedule 1 of this Agreement.
		
	 Source of Restricted Stock Units:
	 	F.N.B. Corporation 2007 Incentive Compensation Plan, as Amended (the “Plan”).

 This Agreement includes this cover page (“Agreement Cover Page”) and the following Schedules, which are
expressly incorporated by reference in their entirety herein: 
 Schedule 1 – General Terms and Conditions 

Schedule 2 – Calculation of Relative Return on Average Tangible Common Equity 

Schedule 3 – List of Peer Financial Institutions 

IN WITNESS WHEREOF, and intending to be legally bound hereby, the parties hereto have executed this Agreement as of the Grant Date. 

 

					
	F.N.B. CORPORATION	 		 	PARTICIPANT
			
	              
	 		 	  

	Name:	 		 	Name:
	Title:	 		 	

 SCHEDULE 1 

General Terms and Conditions of the 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

This Agreement is between the Participant and F.N.B. and sets forth the terms and conditions of the grant of Restricted Stock Units to the
Participant. The grant of the Restricted Stock Units was made by the Compensation Committee of the F.N.B. Board of Directors (the “Committee”) pursuant to the terms of the Plan, subject to the Agreement becoming effective on the Grant Date
specified on the Agreement Cover Page (hereinafter the “Grant Date”). 
 The terms of the Plan are incorporated herein by
reference, including the definitions of terms contained in the Plan. Any inconsistency between the Agreement and the terms and conditions of the Plan will be resolved in accordance with the Plan, in particular, Article 2 of the Plan which, in
relevant part, provides the Committee with sole discretion to construe and interpret the Plan and Agreement. Unless otherwise specified herein or the context indicates differently, all references in this Agreement to “F.N.B.” shall mean
F.N.B. or its Affiliates unless otherwise stated. 
 RECITALS 

WHEREAS, the Preamble and Recitals to this Agreement are incorporated into and made part of this Agreement; and 

WHEREAS, the Participant has accepted this Award of Restricted Stock Units and agrees to the terms and conditions stated below. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and intending to be legally bound hereby, each
of the parties covenants and agrees as follows: 
 Section 1. Purpose. The purpose of this Award is to align the Participant’s
interest with that of F.N.B. stockholders by attaining an attractive return on average tangible common equity to F.N.B. stockholders. 
 Section 2.
Restricted Stock Unit Award. Subject to the provisions of this Agreement and the provisions of the Plan, F.N.B. hereby grants to the Participant an Award of Restricted Stock Units, denominated in the Target Amount, which, along with
dividend equivalent units that accrue pursuant to Section 6 hereof, shall become vested in an amount determined by and be payable in shares of Stock, subject to application of Sections 3 and 4. These Restricted Stock Units are notional units of
measurement denominated in shares of Stock (i.e., one Restricted Stock Unit is equivalent to one share of Stock). The Restricted Stock Units represent an unfunded, unsecured right to receive Stock (and dividend equivalent payments pursuant to
Section 6 hereof) in the future if the conditions set forth in this Agreement and the Plan are satisfied. 
 Section 3. Vesting
Requirement. Except as otherwise provided in Section 4, the Target Amount shall vest on the Vesting Date, as that term is defined in Part III of the Agreement Cover Page, provided that both of the vesting requirements set forth in
Section 3(a) and (b) (the “Vesting Requirements”) are satisfied. The amount of the Target Amount that vests on the Vesting Date in accordance with Section 3 and 4 shall be the “Vested Amount.” 

  
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	(a)	Service Requirement. The Participant must remain continuously in Service1 with F.N.B. from the Grant Date through December 31, 2018 (the
“Service Vesting Requirement”). 

  

	(b)	Performance Requirement. F.N.B.’s 2018 ROATCE relative to its peer group as set forth in Schedule 2 attached hereto, must be greater than the 25th
percentile of the Peer Financial Institutions’ ROATCE for fiscal year 2018 performance (the “Performance Vesting Requirement”). 

Section 4. Forfeiture; Termination of Service; and Accelerated Vesting of Restricted Stock Units. Upon the effective date of the
termination of Participant’s service before the Vesting Date, the Restricted Stock Units shall immediately be forfeited without consideration or future action being required of F.N.B. Notwithstanding the foregoing, the Restricted Stock Units
shall be subject to accelerated vesting upon the occurrence of events and subject to the terms described in the “Accelerated Vesting Table” below: 

Accelerated Vesting Table 
  

					
	 Accelerated Vesting Event
	  	 Vested Amount
	  	 Vesting Date

			
	 1.      Death
	  	100% of Target Amount	  	Vests immediately upon Participant’s death
			
	 2.      Early Retirement
	  	Pro-rated vesting.a	  	Completion of the Performance Period (subject to acceleration upon 1 above and 4 below)
			
	 3.      Disability
	  	Pro-rated vesting.a 	  	Completion of the Performance Period (subject to acceleration upon 1 above and 4 below)
			
	 4.      Change in Controlb
	  	100% of Target Amount	  	Vests immediately upon the occurrence of a Change in Control event if the Award is not assumed, continued, converted, or substituted by the successor organization, otherwise vests in full upon Participant’s termination of
employment by the Company without Cause or by the Participant for Good Reason within two years following the Change in Control

  

	1 	For purposes of this Agreement, “continuously in Service” means that the Participant’s employment service with F.N.B. or an Affiliate is not interrupted or terminated. The Participant’s continuous
Service shall not be deemed to have terminated merely because of a change in the capacity in which the Participant renders service to F.N.B. or an Affiliate as an employee or a change in the Affiliate entity for which the Participant renders such
service, provided that there is no interruption or termination of the Participant’s continuous Service; provided further that if any grant is subject to Section 409A of the Code, this footnote shall only be given effect to
the extent consistent with Section 409A of the Code. 

  
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	a	The pro rata amount shall be determined by multiplying the Vested Amount by a fraction, the numerator of which is the number of full months the Participant worked during the Performance Period before the occurrence of
the Accelerated Vesting Event, and the denominator representing the total number of full months in the Performance Period. 

	b	For purposes of this Agreement, the termination of the Participant’s Service from F.N.B. or Affiliate without “Cause” following execution of a definitive agreement contemplating a “Change in
Control” of F.N.B., but prior to the consummation date of the Change in Control, shall immediately result in full vesting of the Target Amount. 

Section 5. Restrictions. The Restricted Stock Units shall be subject to the following restrictions: 

 

	 	(a)	Restrictions on Transfer. The Restricted Stock Units may not be sold, assigned, transferred, encumbered, hypothecated or pledged by the Participant, other than to F.N.B. as a result of forfeiture of the
Restricted Stock Units as provided herein and by beneficiary designation, will or by laws of descent and distribution upon the Participant’s death. 

  

	 	(b)	No Voting Rights. The Restricted Stock Units granted pursuant to this Agreement, whether or not vested, will not confer any voting rights upon the Participant, unless and until the Restricted Stock Units
(including the dividend equivalents) are paid to Participant in shares of Stock. 

  

	 	(c)	Compliance with Laws and Regulations. The grant of Restricted Stock Units evidenced hereby shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any
government or regulatory agency as may be required. F.N.B. shall not be required to issue or deliver any certificates for Restricted Stock Units or Stock corresponding to the Units prior to (i) the listing of such Stock on any stock exchange on
which the Stock may then be listed and (ii) the effectiveness of any registration statement with respect to such Stock that counsel for F.N.B. deems necessary or appropriate. 

Section 6. Dividend Equivalents. Any dividend paid, whether in cash or otherwise, on the shares of F.N.B. common stock between the Grant
Date and the date the Vested Amount is to be paid to Participant in accordance with Section 7 herein, subject to the vesting requirements described herein, shall be converted into additional Restricted Stock Units and upon vesting, shall be
distributed to Participant in accordance with Section 7 herein. Any Restricted Stock Units resulting from the conversion of these dividend amounts (“Dividend Equivalents”) will be considered Restricted Stock Units for purposes of this
Agreement and will be subject to all the terms, conditions and restrictions set forth herein. All Dividend Equivalents shall be subject to the same vesting requirements applicable to the Restricted Stock Units in respect of which they were credited
and shall be payable in accordance with Section 7 of this Agreement. Each Dividend Equivalent shall be rounded to the nearest whole Dividend Equivalent. 

Section 7. Payment of Vested Restricted Stock Units/Enrollment of Stock in DRP. Within thirty (30) calendar days following the Vesting
Date of the Restricted Stock Units and Dividend Equivalents under Section 3 or Section 4 hereof, the Stock distributable as a result of such vesting of the Restricted Stock Units shall be enrolled (on a one-for-one basis) in the
Participant’s name in the F.N.B. Dividend Reinvestment and Direct Stock Purchase Plan (“DRP”). In the event of an accelerated vesting under Section 4 of this Agreement, the 

  
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calculation of each pro rata Restricted Stock Unit or Stock shall be rounded to the nearest whole Restricted Stock Unit or Stock, respectively. The Participant shall be entitled to exercise all
rights to the unrestricted Stock resulting from the vesting of the Restricted Stock Units and Dividend Equivalents, including the right to withdraw such Stock from the DRP, in accordance with the terms of the DRP. On the Vesting Date, F.N.B. shall
withhold an appropriate amount from the unrestricted Stock to be distributed sufficient to satisfy all or a portion of such tax withholding requirements. 

Section 8. Clawback. The shares of Stock payable in respect of any Vested Amount under this Agreement shall be subject to recovery by
F.N.B. in the circumstances and manner provided in the F.N.B. Corporation Compensation Recoupment Policy (“Recoupment Policy”) or any related policy that may be subsequently adopted or implemented by F.N.B. and in effect from time to time
after the date hereof, and the Participant shall effectuate any such clawback recovery at such time and in such manner as F.N.B. may specify. 

Section 9. No Right of Service. Nothing in this Agreement shall confer upon the Participant any right to continue in the Service of F.N.B.
or interfere in any way with the right of F.N.B. to terminate the Participant’s Service at any time or to change the terms and conditions of such Service. 

Section 10. Delivery of Documents. By accepting the terms of this Agreement, the Participant consents to the electronic delivery of
documents related to Participant’s current or future participation in the Plan (including the Plan documents; this Agreement; any other prospectus or other documents describing the terms and conditions of the Plan and this grant; and
F.N.B.’s then-most recent annual report to stockholders, annual Report on Form 10-K and definitive proxy statement), and you acknowledge that such electronic delivery may be made by F.N.B., in its sole discretion, by one or more of the
following methods: (i) the posting of such documents on F.N.B.’s intranet website; (ii) the delivery of such documents via the F.N.B. Corporation website; or (iii) delivery via electronic mail, by attaching such documents to such
electronic email and/or including a link to such documents on an F.N.B. intranet website or F.N.B. Corporation internet website accessible by you. Notwithstanding the foregoing, you also acknowledge that F.N.B. may, in its sole discretion (and as an
alternative to, or in addition to, electronic delivery), deliver a paper copy of any such documents to Participant. Participant further acknowledges that Participant may receive from F.N.B. a paper copy of any documents distributed electronically at
no cost to Participant by contacting F.N.B. (Attention: Human Resources Department) in writing to the address specified in Section 11 herein. 

Section 11. Notices. Any notice hereunder to F.N.B. shall be addressed to it at its office, F.N.B. Corporation, 3015 Glimcher Blvd.,
Hermitage, Pennsylvania 16148, c/o Human Resources Department, and any notice hereunder to the Participant shall be addressed to the Participant at the Participant’s address provided to F.N.B. from time to time, subject to the right of either
party to designate at any time hereafter in writing some other address. 

  
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 Section 12. Entire Agreement and Amendment. This Agreement is the entire Agreement between the
parties to it with respect to the Units, and all prior oral and written representations are merged in this Agreement. This Agreement may be amended, modified or terminated only by written agreement between the Participant and F.N.B., provided, that
F.N.B. may amend this Agreement without further action by the Participant to correct a scrivener’s error or if such amendment is deemed by F.N.B. to be advisable or necessary to comply with Section 409A of the Code. 

Section 13. Waiver. The failure of F.N.B. to enforce at any time any provision of the Agreement shall in no way be construed to be a waiver
of such provision or of any other provision hereof. 
 Section 14. Construction and Dispute Resolution. This Agreement shall be governed
by and construed in accordance with the internal laws of the Commonwealth of Pennsylvania, without giving effect to principles of conflict of laws. All headings in this Agreement have been inserted solely for convenience of reference only, are not
to be considered a part of this Agreement, and shall not affect the interpretation of any of the provisions of this Agreement. In the event of any dispute or claim relating to or arising out of this Agreement, including, but not limited to a dispute
as to whether the dispute is subject to arbitration, the Participant and F.N.B. agree that all such disputes shall be fully and finally resolved to the fullest extent permitted by law, by binding arbitration conducted by the American Arbitration
Association (“AAA”) in Allegheny County, Pennsylvania in accordance with the AAA’s National Rules for the Resolution of Employment Disputes, including, but not limited to, the rules and procedures applicable to the selection of
arbitrators. The Participant acknowledges that by accepting this arbitration provision he/she is expressly waiving any right to a jury trial in the event of a covered dispute. Punitive and consequential damages shall not be permitted as an award and
each party shall bear the fees and expenses of its own counsel and expert witnesses. The arbitrator may, but is not required, to order that the prevailing party shall be entitled to recover from the losing party its attorneys’ fees and costs
incurred in any arbitration arising out of this Agreement. F.N.B. and the Participant agree to abide completely by the binding decisions of the arbitrator and to keep the outcome of such resolution strictly confidential. 

Section 15. Binding Effect. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs,
executors, administrators, successors and permitted assigns. 
 Section 16. Assignment and Transfers. The Participant may not assign,
encumber or transfer any of his or her rights and interests under the Award described in this document, except, in the event of the Participant’s death, by will or the laws of descent and distribution. 

Section 17. No Limitation on F.N.B.’s Rights. The awarding of Units shall not in any way affect F.N.B.’s right or power to make
adjustments, reclassifications or changes in its capital or business structure or to merge, consolidate, reincorporate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 

  
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 Section 18. Counterparts. This Agreement may be executed in two counterparts, each of which
shall be deemed an original, but both of which together shall constitute one and the same instrument. 
 Section 19. Change in Control.
To the extent necessary to comply with Code Section 409A, a Change in Control shall not be deemed to have occurred for purposes of this Agreement unless such event qualifies as a “change in control event” within the meaning of
Code Section 409A. 

  
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 SCHEDULE 2 

CALCULATION OF RELATIVE RETURN ON AVERAGE TANGIBLE COMMON EQUITY 

“Relative Return on Average Tangible Common Equity” means F.N.B.’s ROATCE relative to the ROATCE of the Peer Financial Institutions. Relative
ROATCE will be determined by ranking F.N.B. and the Peer Financial Institutions from highest to lowest according to their respective ROATCEs. After this ranking, the percentile performance of F.N.B. relative to the Peer Financial Institutions will
be determined as follows: 
  
 

 
 Where: “P” represents the percentile performance which will be rounded, if
necessary, to the nearest whole percentile by application of regular rounding. 
 “N” represents the remaining
number of Peer Financial Institutions, plus F.N.B. 
 “R” represents Company’s ranking among the Peer
Financial Institutions. 
 Example: If there are 12 remaining Peer Financial Institutions, and F.N.B. ranked 7th, the performance would be at the 50th percentile: .50 = 1 – ((7-1)/(13-1)). 

“ROATCE” means, for each of F.N.B. and the Peer Financial Institutions, annualized net income (excluding the after-tax effect of goodwill and
deposit base intangible assets amortization) divided by average tangible common stockholders’ equity for the applicable measurement period. 

  
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 SCHEDULE 3 

PEER FINANCIAL INSTITUTIONS 

 

 BOK Financial Corporation, Tulsa, OK 

Cullen/Frost Bankers, Inc., San Antonio, TX 
 Signature Bank, New
York, NY 
 Synovus Financial Corp., Columbus, GA 
 Associated
Banc-Corp, Green Bay, WI 
 First Horizon National Corp, Memphis, TN 

FirstMerit Corporation, Akron, OH 
 Commerce Bancshares, Inc.,
Kansas City, MO 
 Webster Financial Corporation, Waterbury, CT 

Prosperity Bancshares, Inc., Houston, TX 
 Hancock Holding
Company, Gulfport, MS 
 Wintrust Financial Corporation, Rosemont, IL 

TCF Financial Corporation, Wayzata, MN

 Valley National Bancorp, Wayne, NJ 

UMB Financial Corporation, Kansas City, MO 
 Fulton Financial
Corporation, Lancaster, PA 
 Texas Capital Bancshares, Inc., Dallas, TX 

IBERIABANK Corporation, Lafayette, LA 
 PrivateBancorp, Inc.,
Chicago, IL 
 MB Financial, Inc., Chicago, IL 
 BancorpSouth,
Inc., Tupelo, MS 
 United Bankshares, Inc., Charleston, WV 

Trustmark Corporation, Jackson, MS 
 Old National Bancorp,
Evansville, IN 
 National Penn Bancshares, Inc., Allentown, PA 

First Midwest Bancorp, Inc., Itasca, IL

 

  

	(a)	In the event of a merger of a Peer Financial Institution with an entity that is not a Peer Financial Institution, or the acquisition or business combination transaction by or with a Peer Company, or with an entity that
is not a Peer Financial Institution, in each case where the Peer Financial Institution is the surviving entity and remains publicly traded, the surviving entity shall remain a Peer Financial Institution. 

 

	(b)	In the event of the announcement of a merger or acquisition or business combination transaction of a Peer Financial Institution by or with an entity that is not a Peer Financial Institution, a “going private”
transaction involving a Peer Financial Institution or the liquidation of a Peer Financial Institution, where the Peer Financial Institution is not the surviving entity or is otherwise no longer publicly traded, the company shall no longer be a Peer
Financial Institution. 

  

	(c)	In the event of a bankruptcy or insolvency of a Peer Financial Institution, such company shall remain a Peer Financial Institution and the lowest rank shall be assigned such Peer Financial Institution.

  
 9Exhibit 10.75

 

PLAN OF COMPLETE LIQUIDATION AND DISSOLUTION

OF

MECKLERMEDIA CORPORATION

 

The following Plan
of Complete Liquidation and Dissolution (the “Plan of Dissolution”), and the actions described in this Plan
of Dissolution are intended to effect the dissolution and complete liquidation of Mecklermedia Corporation, a Delaware corporation
(the “Company”), in accordance with Section 275 and other applicable provisions of the Delaware General Corporation
Law (the “DGCL”).

 

1. Adoption and
Approval of this Plan. The board of directors of the Company (the “Board of Directors”), at a meeting duly
noticed and convened on December 21, 2015 (the “Adoption Date”), has adopted, resolutions deeming it advisable and
in the best interest of the stockholders of the Company to dissolve and liquidate the Company and adopt the Plan of Dissolution,
Promptly after the Adoption Date, the Board of Directors of the Company shall take such action as is necessary to call a meeting
of the Company’s stockholders, or if feasible, solicit written consents in accordance with Section 228 of the DGCL, for purposes
of conducting a vote so as to determine whether the Plan is approved. Upon each of the adoption of the Plan and Stockholder Approval
of the Plan, the Company shall make such public filings and serve such notices, as the Board of Directors deems necessary or advisable,
with the U.S. Securities and Exchange Commission (including without limitation Press Releases, Current Reports on SEC Form 8-K,
and Notice of Termination of Registration on SEC Form 15, and state securities and other regulatory authorities, the Company’s
stock transfer agent, any and all securities exchanges upon which the Company’s shares of stock are listing for trading or
quotation services on which such shares are quoted for trading, and such other governmental, quasi-governmental and such other
regulatory agencies.

 

2. Cessation of
Business Activities. After the Effective Date and in accordance with Section 278 of the DGCL, the Company shall not engage
in any business activities except for the purpose of preserving the value of its assets, winding up and liquidating its business
and affairs, including, but not limited to, prosecuting and defending suits, whether civil, criminal or administrative, by or against
the Company, collecting its assets, discharging or making provision for discharging its liabilities, withdrawing from all jurisdictions
in which it is qualified to do business, distributing its remaining property, if any, to its stockholders, and doing every other
act necessary to wind up and liquidate its business and affairs, but not for the purpose of continuing the business for which the
Company was organized.

 

3. Certificate
of Dissolution. The officers of the Company shall, at such time as the Board of Directors, in its absolute discretion, deems
necessary, appropriate or desirable, obtain any certificates required from the Delaware taxing authorities or any other governmental
authority and, upon obtaining such certificates and paying such taxes as may be owing, and thereafter, provided the Stockholders
of the Company have approved the liquidation and dissolution of the Company, file with the Secretary of State of the State of Delaware
a certificate of dissolution (the “Certificate of Dissolution”) in accordance with the DGCL (the effective time
of such filing, or, such later time as stated therein, or, in the discretion of the Board of Directors, the date upon which the
Stockholders’ approval of the Plan becomes effective under the DGCL, is referred to herein as the “Effective Date”).

 

    	 	 	 

     

    

 

4. Liquidation
Process. From and after the Effective Date and subject to the provisions hereof, the Company shall complete the following corporate
actions:

 

a. Sale
of All or Substantially All of the Non-Cash Assets. The Company shall determine whether and when to collect, sell, exchange
or otherwise dispose of all or substantially all of its non-cash property and assets, including but not limited to all tangible
assets, intellectual property and other intangible assets, in one or more transactions upon such terms and conditions as the Board
of Directors deem expedient and in the best interests of the Company and its Stockholders, without any further vote or action by
the Company’s stockholders It is understood that, to the extent that the Company has already commenced the sale and disposition
of its assets, such sales and dispositions are hereby ratified and approved. The Company’s non-cash assets and properties
may be sold in one transaction or in several transactions to one or more buyers. The Company shall not be required to obtain appraisals,
fairness opinions or other third-party opinions as to the value of its properties and assets in connection with the liquidation.
In connection with such collection, sale, exchange and other disposition, the Company shall collect or make provision for the collection
of all accounts receivable, debts and claims owing to the Company.

 

b. Liquidation
of Assets. The Company, if it deems it advisable, may determine whether, and if so, when, to transfer the Company’s property
and assets to a liquidating trust (established pursuant to Section 7 hereof).

 

c. Payment
Obligations. The Company shall, as determined by the Board of Directors, (i) pay or make reasonable provision to pay,
or obtain waivers from holders of, all claims and obligations, including all contingent, conditional or unmatured contractual claims
known to the Company, (ii) make such provisions as will be reasonably likely to be sufficient to provide compensation for
any claim against the Company which is the subject of a pending action, suit or proceeding to which the Company is a party and
(iii) make such provision as will be reasonably likely to be sufficient to provide compensation for claims that have not been
made known to the Company or that have not arisen but that, based on facts known to the Company or successor entity, are likely
to arise or to become known to the Company or successor entity within ten (10) years after the Effective Date, if any. All such
claims shall be paid in full (to the extent financial resources exist) and any such provision for payment made shall be made in
full if there are sufficient assets. If there are insufficient assets of the Company, such claims and obligations of the Company
shall be paid or provided for in accordance with their priority and, among claims of equal priority, ratably to the extent of assets
of the Company legally available therefor. If and to the extent deemed necessary, appropriate or desirable by the Board of Directors,
in their absolute discretion, the Company may establish and set aside a reasonable amount of cash and/or property (the “Contingency
Reserve”) to satisfy such claims and obligations against the Company, including, without limitation, tax obligations,
and all expenses related to the sale of the Company’s property and assets, all expenses related to the collection and defense
of the Company’s property and assets, and the liquidation and dissolution provided for in this Plan of Dissolution.

 

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d. Distributions
to Stockholders. Any assets of the Company remaining after the payment of claims or the provision for payment of claims and
obligations of the Company as provided in subsection (c) above shall be distributed by the Company to its stockholders in accordance
with the priorities associated with the shares of stock so held, and among each class of common stock and series of preferred stock,
ratably to the extent of assets of the Company legally available therefor.

 

5. Cancellation
of Capital Stock. Upon the filing of the Certificate of Dissolution, regardless of whether or not there has been a distribution
to the stockholders pursuant to Section 4.d. hereof or otherwise, each and every outstanding share of capital stock of the Company
shall be cancelled by operation of law.

 

6. Final Liquidating
Distribution. Whether or not a Trust shall have been previously established pursuant to Section 7 hereof, if it should not
be feasible for the Company to make the final Liquidating Distribution to its stockholders of all assets and all properties of
the Company remaining after the orderly liquidation and dissolution as set forth above, prior to the third anniversary of the Adoption
Date, then, on or before such date, the Company shall be required to establish a Trust and transfer any remaining assets and properties
(including, without limitation, any uncollected claims, contingent assets and contingency reserves) to the Trustees as set forth
in Section 7.

 

7. Liquidating
Trust. If deemed necessary, appropriate or desirable by the Board of Directors, in furtherance of the liquidation and distribution
of the Company’s assets to the stockholders in accordance with the provisions hereof, as a final Liquidating Distribution
or from time to time, the Company may transfer to one or more liquidating trustees, for the benefit of its stockholders and/or
creditors (the “Trustees”) under a liquidating trust (the “Trust”), any assets of the Company,
including cash, intended for distribution to creditors and stockholders not disposed of at the time of dissolution of the Company,
including the reserves for contingencies. The Board of Directors is hereby authorized to appoint one or more individuals, corporations,
partnerships or other persons or entities, or any combination thereof, including, without limitation, any one or more officers,
directors, employees, agents or representatives of the Company, to act as the initial Trustee or Trustees for the benefit of the
stockholders and creditors of the Company and to receive any assets of the Company. Any Trustees appointed as provided in the preceding
sentence shall succeed to all right, title and interest of the Company of any kind and character with respect to such transferred
assets and, to the extent of the assets so transferred and solely in their capacity as Trustees, shall assume all of the claims
and obligations of the Company as provided in Section 4(c) hereof, including, without limitation, any unsatisfied claims and unknown
or contingent liabilities. Further, any conveyance of assets to the Trustees shall be deemed to be a distribution of property and
assets by the Company to the stockholders for the purposes of Section 4(d) of this Plan. Any such conveyance to the Trustees shall
be treated for U.S federal and state income tax purposes as if the Company made such distribution to the stockholders and the assets
conveyed shall be held in trust for the stockholders and creditors of the Company. The Company, subject to this Section 7 and as
authorized by the Board of Directors, may enter into a liquidating trust agreement with the Trustees, on such terms and conditions
as the Board of Directors, may deem necessary, appropriate or desirable. Adoption of this Plan by the stockholders shall constitute
the approval of the stockholders of any such appointment, any such liquidating trust agreement and any transfer of assets by the
Company to the Trust as their act and as a part hereof as if herein written.

 

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8. Abandoned Property.
If any Liquidating Distribution cannot be made, then the distribution to which such person is entitled (unless transferred to the
Trust established pursuant to Section 7) shall be transferred, at such time as the final Liquidating Distribution is made by the
Company, to the extent permitted by law, to the official of such state or other jurisdiction authorized by applicable law to receive
the proceeds of such distribution. The proceeds of such distribution shall thereafter be held solely for the benefit of and for
ultimate distribution to such person and shall be treated as abandoned property and escheat to the applicable state or other jurisdiction
in accordance with applicable law. In no event shall the proceeds of any such distribution revert to or become the property of
the Company.

 

9. Stockholder
Approval of Sale of Assets. Approval of the proposed dissolution and adoption of this Plan by the stockholders shall constitute
the approval of the stockholders of the Company of the dissolution and winding-up of the Company and the sale, exchange or other
disposition in liquidation of all or substantially all of the property and assets of the Company pursuant to the terms hereof,
whether such sale, exchange or other disposition occurs in one transaction or a series of transactions, and shall constitute ratification
of all contracts for sale, exchange or other disposition which are conditioned on adoption of this Plan.

 

10. Expenses of
Dissolution. In connection with and for the purposes of implementing and assuring completion of the Plan, the Company may pay
any brokerage, agency, professional, legal and other fees and expenses of persons rendering services to the Company in connection
with the collection, sale, exchange or other disposition of the Company’s property and assets and the implementation of this
Plan.

 

11. Employees and
Independent Contractors. In connection with effecting the dissolution of the Company and for the purpose of implementing and
assuring completion of the Plan, the Company may hire or retain such employees, consultants, independent contractors, agents and
advisors as the Board of Directors deem necessary or desirable to supervise or facilitate the dissolution and winding-up. The Company
may, but subject to applicable legal and regulatory requirements, pay the Company’s officers, directors, employees, consultants,
independent contractors, agents, advisors and representatives, or any of them, compensation or additional compensation above their
regular compensation, in money or other property, as severance, bonus, or in any other form, in recognition of the extraordinary
efforts they, or any of them, will be required to undertake, or actually undertake, in connection with the implementation of the
Plan.

 

12. Indemnification.
The Company shall continue to indemnify its officers, directors, employees, agents and Trustees in accordance with its articles
of organization, operating agreement and contractual arrangements as therein or elsewhere provided, the Company’s directors’
and officers’ liability insurance policy and applicable law. Such indemnification shall apply to acts or omissions of such
persons in connection with the implementation of this Plan and the winding up of the affairs of the Company. Any of the Board of
Directors and the Trustee is authorized to obtain and maintain insurance as may be necessary to cover the Company’s indemnification
obligations.

 

    	 	4	 

     

    

 

13. Alternative
Bankruptcy Filing. If it is so determined by the Board of Directors (in its sole and absolute discretion) that it is necessary
and or advisable for the Company to seek a liquidation pursuant to the United States Bankruptcy laws, the Company is hereby so
authorized to file for liquidation under Title 11, Chapters 7 or 11 of the United States Code.

 

14. Power of Board
of Directors and Officers. Upon approval of this Plan of Liquidation and Dissolution by the Company’s stockholder, the
Board of Directors is hereby authorized, without further action by the Company’s stockholders, to do and perform, or cause,
and hereby authorizes, the officers of the Company to do and perform, any and all acts, and to make, execute, deliver or adopt
any and all agreements, resolutions, conveyances, certificates and other documents of every kind that are deemed necessary, appropriate
or desirable, in the absolute discretion of the Board of Directors or such officers, to implement the Plan of Dissolution and the
transactions contemplated hereby, including, without limitation, all filings or acts required by any state or federal law or regulation
to wind up its affairs.

 

 

***

 

 

 

 

 

 

 

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