Document:

The Registrant's Form of Stock Option Agreement

 Exhibit 10.2 
 CITADEL BROADCASTING CORPORATION 
 AMENDED AND RESTATED 2002 LONG-TERM INCENTIVE PLAN 
 STOCK OPTION AGREEMENT 
 REFERENCE
NUMBER: 002 
 1. GRANT OF OPTION. 
 1.1 Option. On the terms and conditions set forth in this Stock Option Agreement and each Notice of Stock Option Grant (the “Notice”) referencing this Agreement, Citadel Broadcasting
Corporation (“Company”) grants to [FULL NAME] (the “Optionee”) on the Date of Grant an option to purchase at the Option Price a number of Shares, all as set forth in the Notice. Each such Notice, together
with this referenced Agreement, shall be a separate option governed by the terms of this Agreement and the Plan. This option is intended to be an ISO or a Nonstatutory Option, as provided in the Notice. 
 1.2 Plan. This option is granted under and subject to the terms of the Citadel Broadcasting Corporation Amended and Restated 2002 Long Term
Incentive Plan (“Plan”), which is incorporated herein by this reference. Capitalized terms not otherwise defined herein shall have the meaning ascribed to such term in the Plan. 
 2. NO TRANSFER OR ASSIGNMENT OF OPTION. 
 Except as
otherwise provided in this Agreement or permitted by the Committee, this option and the rights and privileges conferred hereby shall not be sold, pledged or otherwise transferred (whether by operation of law or otherwise) and shall not be subject to
sale under execution, attachment, levy or similar process. 
 3. DEFINITIONS. 
 3.1 “Affiliate” shall mean, with respect to any Person, any other Person which, directly or indirectly, is in control of, or is
controlled by, or is under common control with, such Person. 
 3.2 “Board of Directors” shall mean the Board of Directors
of the Company, as constituted from time to time or, if a Committee has been appointed, such Committee. 
 3.3 “Cause” shall
mean (i) the occurrence of any of the events set forth in Section 9.1 or 9.2, or (ii) the Optionee’s having (A) grossly neglected his or her assigned duties or (B) engaged in willful misconduct resulting in, or
reasonably likely to result in, material and demonstrable damage to the Company, unless the Optionee is subject to the terms of an employment agreement which includes a definition of “cause”, in which case such definition shall apply for
purposes of the Plan. 
 3.4 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

 3.5 “Committee” shall mean a committee of the Board of Directors, as described in
Section 1.2 of the Plan. 
 3.6 “Company” shall mean Citadel Broadcasting Corporation, a Delaware corporation, and its
subsidiaries, including any successor thereto by merger, consolidation, acquisition of substantially all the assets thereof, or otherwise. 
 3.7 “Consultant” shall mean a person who performs bona fide services for the Company, a Parent or a Subsidiary as a consultant or advisor, excluding Employees and Directors. 
 3.8 “Date of Grant” shall mean the date specified in the Notice. 
 3.9 “Director” shall mean a member of the Board of Directors who is not an Employee. 
 3.10 “Disability” shall mean that the Optionee is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment as determined by the Board of Directors in its sole discretion. 
 3.11
“Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a Subsidiary. 
 3.12
“Fair Market Value” shall mean on any date means (a) the closing price in the primary trading session for a Share on such date on the stock exchange, if any, on which Shares are primarily traded (or if no shares were traded on
such date, then on the most recent previous date on which any shares were so traded), (b) if clause (a) is not applicable, the closing price of the Shares on such date on The Nasdaq Stock Market at the close of the primary trading session
(or if no shares were traded on such date, then on the most recent previous date on which any shares were so traded) or (c) if neither clause (a) nor clause (b) is applicable, the value of a Share for such date as established by the
Committee, using any reasonable method of valuation. 
 3.13 “ISO” shall mean an incentive stock option described in
Section 422(b) of the Code. 
 3.14 “Legal Representative” shall mean the guardian, executor, administrator or other
legal representative of the Optionee. All references herein to the Optionee shall be deemed to include references to the Optionee’s Legal Representative, if any, unless the context otherwise requires. 
 3.15 “Nonstatutory Option” shall mean a stock option not described in Sections 422(b) or 423(b) of the Code. 
 3.16 “Optionee” shall mean the person named in the Notice. 
 3.17 “Option Price” shall mean the amount for which one Share may be purchased upon exercise of this option, as specified in the Notice.

  

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 3.18 “Parent” shall mean any company (other than the Company) in an unbroken chain of
companies ending with the Company, if each of the companies other than the Company owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other companies in such chain. A
company that attains the status of a Parent on a date after the execution of this Agreement shall be considered a Parent commencing as of such date. 
 3.19 “Person” shall mean means an individual, a company, a partnership, an association, a trust or any other entity or organization, including a government or political subdivision or an agency or
instrumentality thereof. 
 3.20 “Plan” shall mean the Citadel Broadcasting Corporation Amended and Restated 2002 Long-Term
Incentive Plan, as it may be amended or restated from time to time. 
 3.21 “Purchase Price” shall mean the Option Price
multiplied by the number of Shares with respect to which this option is being exercised. 
 3.22 “Restricted Share” shall
mean a Share that is subject to a Right of Repurchase. 
 3.23 “Right of Repurchase” shall mean the Company’s right of
repurchase described in Section 7. 
 3.24 “Securities Act” shall mean the Securities Act of 1933, as amended.

 3.25 “Service” shall mean service as an Employee, Director or Consultant. 
 3.26 “Share” shall mean one share of common stock, par value $0.01 per share, of the Company. There shall be included within the term
Share any common stock now or hereafter authorized to be issued, and any and all securities of any kind whatsoever of the Company which may be issued after the date hereof in respect of, or in exchange for, shares of common stock. 
 3.27 “Subsidiary” shall mean any company (other than the Company) in an unbroken chain of companies beginning with the Company, if each
of the companies other than the last company in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other companies in such chain. A company that attains
the status of a Subsidiary on a date after the execution of this Agreement shall be considered a Subsidiary commencing as of such date. 
 3.28 “Transferee” shall mean any person to whom the Optionee has directly or indirectly transferred any Share acquired under this Agreement. 
 4. RIGHT TO EXERCISE. 
 4.1 Exercisability. Subject to the conditions set forth in this
Agreement, all or part of this option may be exercised prior to its expiration at the time or times set forth in the Notice or this Agreement. To the extent the Notice permits, the Optionee may exercise this option to purchase Shares for which the
Optionee is not yet vested. If exercised for Shares that have not yet vested, such Shares shall be subject to the Right of Repurchase as described in Section 7. 
  

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 4.2 Exercise Period. The option may be exercised (to the extent the option is exercisable pursuant
to the Notice at such time) at any time. 
 4.3 Accelerated Vesting; Forfeiture. The Committee may, in its discretion, provide in the
Notice for accelerated vesting or forfeiture of the Shares subject to this option. 
 4.4 $100,000 Limitation. If this option is
designated as an ISO in the Notice, then the Optionee’s right to exercise this option shall be deferred to the extent (and only to the extent) that this option would not be treated as an ISO solely by reason of the $100,000 annual limitation
under Section 422(d) of the Code, except that the Optionee’s right to exercise this option shall no longer be deferred if (i) the Company is subject to a Change in Control before the Optionee’s Service terminates, (ii) the
Company, or any surviving company, or its parent does not continue this option, and (iii) any surviving company or its parent does not assume this option or does not substitute an option with substantially the same terms for this option.

 5. EXERCISE PROCEDURE. 
 5.1 Notice
of Exercise. The Optionee or the Optionee’s Legal Representative may exercise this option by giving written notice to the Company specifying the election to exercise this option, the number of Shares for which it is being exercised and the
form of payment. Exhibit A is an example of a “Notice of Exercise”. The Notice of Exercise shall be signed by the person exercising this option. In the event that this option is being exercised by the Optionee’s Legal
Representative, the notice shall be accompanied by proof (satisfactory to the Company) of the Legal Representative’s right to exercise this option. The Optionee or the Optionee’s Legal Representative shall deliver to the Company, at the
time of giving the notice, payment in a form permissible under Section 5.5 for the full amount of the Purchase Price. 
 5.2 Issuance
of Shares. 
 (a) After receiving a proper notice of exercise and an undated stock power with respect to any Shares subject to this option
that have not yet vested, the Company shall cause to be issued a certificate or certificates for the Shares as to which this option has been exercised, registered in the name of the person exercising this option (or in the names of such person and
his or her spouse as community property or as joint tenants with right of survivorship). Not less than one hundred Shares may be purchased at any one time upon any exercise of this option, unless the number of Shares so purchased constitutes the
total number of Shares then purchasable under this option. 
 (b) All certificates representing any Shares subject to this option that have
not yet vested shall have endorsed thereon (i) any appropriate legends that may be, in the judgment of the Company, necessary or desirable in order to achieve compliance with the United States Securities Act of 1933, as amended, or the
securities laws of any state or any other law and (ii) the following legend: 
 “The shares represented by this certificate are
subject to certain restrictions pursuant to an agreement between Citadel Broadcasting Corporation and the registered holder, a copy of which is on file at the principal office of Citadel Broadcasting Corporation.” 
  

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 5.3 Section 83(b) Election. To the extent the Optionee is permitted by the terms of the
Notice to exercise a Nonstatutory Option for Shares that are not vested, Section 83 of the Code provides that the Optionee is not subject to federal income tax upon such exercise until the Right of Repurchase with respect to the Shares
purchased lapses. If the Optionee chooses, the Optionee may make an election under Section 83(b) of the Code, which would cause the Optionee to recognize income in the amount of the excess (if any) of the Fair Market Value of the Shares
acquired (determined as of the date the Option is exercised) over the Purchase Price. A Section 83(b) election must be filed with the Internal Revenue Service within thirty (30) days after the date of exercise — even if no tax is
payable because the Fair Market Value of the Restricted Shares on the date the Option is exercised equals the Purchase Price paid. The form for making a Section 83(b) election is attached as Exhibit C. The Optionee acknowledges that it
is the Optionee’s sole responsibility to timely file the Section 83(b) election and that failure to file a Section 83(b) election within the applicable thirty (30) day period may result in the recognition of ordinary income when
the Right of Repurchase lapses. 
 5.4 Withholding Requirements. The Company may withhold any tax (or other governmental obligation)
as a result of the exercise of this option and/or the filing of a Section 83(b) election, as a condition to the exercise of this option, and the Optionee shall make arrangements satisfactory to the Company to enable it to satisfy all such
withholding requirements. The Optionee shall also make arrangements satisfactory to the Company to enable it to satisfy any withholding requirements that may arise in connection with the vesting or disposition of Shares purchased by exercising this
option. 
 5.5 Payment for Shares. Payment of the Purchase Price shall be made by delivery to the Company of a certified or bank check
payable to the order of the Company or cash by wire transfer or other immediately available funds to an account designated by the Company. 
 6. TERM AND
EXPIRATION. 
 6.1 Basic Term. Subject to earlier termination in accordance with this Agreement, this option shall expire on the
expiration date set forth in the Notice. 
 6.2 Termination of Service. Except as may be agreed between the Committee and the
Optionee, if the Optionee’s employment by the Company shall have ceased for any reason whatsoever (including by reason of death, permanent disability or adjudicated incompetency) (“Terminated” or a “Termination”),
irrespective of whether the Optionee receives, in connection with the Termination, any severance or other payment from the Company under any employment agreement or otherwise (such Optionee being referred to herein as a “Terminated
Optionee”), then (i) to the extent that the Option is not exercisable pursuant to the Notice at the date of such Termination, this option shall terminate on and shall be of no further force and effect from and after the date of such
Termination, and (ii) to the extent that the option is exercisable pursuant to the Notice at the date of such Termination (the “Exercisable Portion of the Option”), the Optionee shall have the right, at his or her option, to exercise
the Exercisable Portion of the Option in whole or in part one time at any time within 60 days after the date of such Termination, but in no event after the expiration of the term of the option, and, until exercised, the Exercisable Portion of the
Option shall continue to be subject to the terms of this Agreement. To the extent that the Terminated Optionee does not exercise the Exercisable Portion of the option within the 60-day exercise period provided for in this Section 6.2, the
unexercised portion 
  

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 of the Exercisable Portion of the option shall terminate and shall be of no further force and effect from and after the
final date on which the Terminated Optionee could have so exercised the Exercisable Portion of the option. 
 6.3 Leaves of Absence.
For any purpose under this Agreement, Service shall be deemed to continue while the Optionee is on a bona fide leave of absence, if such leave was approved by the Company in writing or if continued crediting of Service for such purpose is expressly
required by the terms of such leave or by applicable law (as determined by the Company). 
 6.4 Notice Concerning ISO Treatment. If
this option is designated as an ISO in the Notice, it ceases to qualify for favorable tax treatment as an ISO to the extent it is exercised (i) more than three (3) months after the date the Optionee ceases to be an Employee for any reason
other than death or permanent and total disability (as defined in Section 22(e)(3) of the Code), (ii) more than twelve (12) months after the date the Optionee ceases to be an Employee by reason of such permanent and total disability
or (iii) after the Optionee has been on a leave of absence for more than ninety (90) days, unless the Optionee’s reemployment rights are guaranteed by statute or by contract. 
 7. RIGHT OF REPURCHASE. 
 7.1 Right of
Repurchase. To the extent this option is exercised for Shares that are not vested, the Shares so acquired initially shall be Restricted Shares and shall be subject to a right (but not an obligation) of repurchase by the Company. The Optionee
shall not transfer, assign, encumber or otherwise dispose of any Restricted Shares. If the Optionee transfers any Restricted Shares, then this Section 7 shall apply to the Transferee to the same extent as to the Optionee. 
 7.2 Exercise Notice. In the event the Company wishes to exercise its Right of Repurchase, the Company shall provide the Optionee with sixty
(60) days prior written notice of its intent to exercise its right. A sample Right of Repurchase Exercise Notice is attached hereto as Exhibit D. Such notice shall contain the price per Share which shall be the repurchase price,
described in subsection 7.4 below, and all other terms and conditions of the offer (including, without limitation, the proposed consummation date of the repurchase). The repurchase price shall be paid in cash or by canceling of indebtedness as the
Company, in its sole discretion, shall determine. 
 7.3 Lapse of Repurchase Right. The Right of Repurchase shall lapse with respect
to the Shares subject to this option in accordance with the vesting schedule described in the Notice. In addition, the Right of Repurchase shall lapse and all remaining Restricted Shares shall become vested if (i) the Company is subject to a
Change in Control before the Optionee’s Service terminates and (ii) the Right of Repurchase is not assigned to the successor entity that retains the Optionee’s Service immediately after the Change in Control or to such entity’s
parent or subsidiary. 
 7.4 Repurchase Price. If the Company exercises the Right of Repurchase, it shall pay the Optionee an amount
for each of the Restricted Shares being repurchased equal to the lower of (i) the Fair Market Value for each Share or (ii) the Purchase Price. 
  

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 7.5 Additional Shares or Substituted Securities. In the event of the declaration of a stock
dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities
without receipt of consideration, any new, substituted or additional securities or other property (including money paid other than as an ordinary cash dividend) which are by reason of such transaction distributed with respect to any Shares subject
to this Section 7 into which such Shares thereby become convertible shall immediately be subject to this Section 7. 
 7.6
Termination of Rights as Shareholder. If the Company makes available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 7, then
after such time the person from whom such Shares are to be purchased shall no longer have any rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Shares shall be
deemed to have been purchased in accordance with the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as required by this Agreement. 
 8. LEGALITY OF INITIAL ISSUANCE. 
 No Shares shall be issued upon the exercise of this option unless
and until the Company has determined that: 
 (i) The Company and the Optionee have taken any actions required to register the Shares under
the Securities Act or to perfect an exemption from the registration requirements thereof; 
 (ii) Any applicable listing requirement of any
stock exchange or other securities market on which Stock is listed has been satisfied; and 
 (iii) Any other applicable provision of state
or federal law has been satisfied. 
 9. PROHIBITED ACTIVITIES. 
 9.1 Prohibition. The Optionee agrees that (i) the Optionee will not at any time during the Optionee’s employment (other than in the course of such employment) with the Company or any Affiliate
thereof, or after a Termination, disclose or furnish to any other Person or use for the Optionee’s own or any other Person’s account any Confidential or Proprietary Information, (ii) if the Optionee is Terminated, the Optionee will
not for three years following such Termination directly or indirectly solicit for employment, including without limitation recommending to any subsequent employer the solicitation for employment of, any employee of the Company or any Affiliate
thereof, (iii) the Optionee will not at any time during the Optionee’s employment with the Company or any Affiliate thereof or after a Termination publish or make any disparaging statements about the Company, any Affiliate or any of their
directors, officers or employees, under circumstances where it is reasonably foreseeable that the statements will be made public (a disparaging statement is a communication which, if made public, would tend to malign the business or reputation of
the Person about whom such statement 
  

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 is made), and (iv) the Optionee will not breach the provisions of Section 2 hereof (any activity prohibited by
clause (i), (ii), (iii) or (iv) of this Section 9.1 being referred to as a “Prohibited Activity”). 
 “Confidential or
Proprietary Information” shall mean any non-public information about the Company or any Affiliate thereof which was acquired during the Optionee’s employment with the Company or any Affiliate thereof and which has or is reasonably likely
to have competitive value to the Company or any Affiliate thereof. 
 9.2 Right to Terminate Option. The Optionee understands and
agrees that the Company is granting to the Optionee an option to purchase Shares hereunder to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its Affiliates by giving the Optionee the opportunity to
participate in the potential future appreciation of the Company. Accordingly, if, at any time during which any portion of the Option (including the Exercisable Portion of the Option) is outstanding, (i) the Optionee engages in any Prohibited
Activity or any act otherwise constituting Cause, or (ii) the Optionee engages in any Competitive Activity (as hereinafter defined), or (iii) the Optionee is convicted of a crime against the Company or any of its Affiliates, then, in
addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, to terminate the option (including the Exercisable Portion of the option), or any unexercised portion thereof, which shall then be of
no further force and effect. 
 “Competitor” shall mean any Person that is engaged in owning, operating or acquiring directly or indirectly
(through a company, trust, partnership or other Person) a Radio Broadcasting Business that operates in the same market as and competes directly or indirectly with a Radio Broadcasting Business which, at the time the Optionee is Terminated, is owned
or operated by the Company or any of its Subsidiaries or which the Company or any of its Subsidiaries intends to own, operate or acquire (which intention was disclosed to the Optionee prior to or in connection with his or her Termination). The
determination as to whether or not any Radio Broadcasting Business competes directly or indirectly with the Company or any of its Subsidiaries shall be made by the Company in its reasonable discretion. 
 “Competitive Activity” shall mean engaging in any of the following activities: (i) serving as a director of any Competitor; (ii) directly or
indirectly (A) controlling any Competitor or (B) owning any equity or debt interests in any Competitor (other than equity or debt interests which are publicly traded and do not exceed 2% of the particular class of interests then
outstanding) (it being understood that, if any such interests in any Competitor are owned by an investment vehicle or other entity in which the Optionee owns an equity interest, a portion of the interests in such Competitor owned by such entity
shall be attributed to the Optionee, such portion determined by applying the percentage of the equity interest in such entity owned by the Optionee to the interests in such Competitor owned by such entity); (iii) directly or indirectly
soliciting, diverting, taking away, appropriating or otherwise interfering with any of the customers or suppliers of the Company or any Affiliate of the Company; or (iv) employment by (including serving as an officer or director of), or
providing consulting services to, any Competitor; provided, however, that if the Competitor has more than one discrete and readily distinguishable part of its business, employment by or providing consulting services to any Competitor shall be
Competitive Activity only if (X) his or her employment duties are at or involving the part of the Competitor’s business that competes with any of the businesses 
  

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 conducted by the Company or any of its Subsidiaries (the “Competing Operations”), including serving in a
capacity where any Person at the Competing Operations reports to the Optionee, or (Y) the consulting services are provided to or involve the Competing Operations. For purposes of this definition, the term “Control” means the
possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of any Competitor, whether through the ownership of equity or debt interests, by contract or otherwise. 
 “Radio Broadcasting Business” shall mean any business which (i) owns or operates one or more radio stations or (ii) owns or operates any internet or
digital audio broadcasting business if such business also owns or operates, or is Affiliated with an owner or operator of, one or more radio stations. 
 10.
OTHER RESTRICTIONS ON TRANSFER. 
 10.1 Securities Law Restrictions. Regardless of whether the offering and sale of Shares under
the Plan have been registered under the Securities Act or have been registered or qualified under the securities laws of any state, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of such Shares
(including the placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the
Securities Act or the securities laws of any state or any other law. 
 10.2 Optionee Undertaking. The Optionee agrees to take
whatever additional action and execute whatever additional documents the Company may deem necessary or advisable to carry out or effect one or more of the obligations or restrictions imposed on either the Optionee or upon the Restricted Shares
pursuant to the provisions of this Agreement. 
 10.3 Investment Intent. The Optionee represents and agrees that as of the Date of
Grant, the Shares to be acquired upon exercising this option will be acquired for investment, and not with a view to the sale or distribution thereof. If the sale of Shares under the Plan is not registered under the Securities Act but an exemption
is available which requires an investment representation or other representation, the Optionee shall represent and agree at the time of exercise that the Shares being acquired upon exercising this option are being acquired for investment, and not
with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or appropriate by the Company and its counsel. 
 11. ADJUSTMENT OF SHARES. 
 Unless otherwise set forth in the Notice, if there is any change in the stock subject to this
option or in the corporate structure of the Company, through merger, consolidation, division, share exchange, combination, reorganization, recapitalization, stock dividend, stock split, spinoff, split up, extraordinary dividend, dividend in kind or
other similar change in the corporate structure or distribution to shareholders, a reclassification, or any similar occurrence, the terms of this option (including, without limitation, the number and kind of Shares subject to this option and the
Option Price) may be adjusted by the Committee in its sole discretion pursuant to the terms of the Plan. The Committee’s adjustment shall be final and binding for all purposes of the Plan and this Agreement. 
  

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 12. MISCELLANEOUS PROVISIONS. 
 12.1 Rights as a Shareholder. Neither the Optionee nor the Optionee’s Legal Representative shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any Shares subject
to this option until: (i) the option shall have been exercised in accordance with the terms of this Agreement and the Optionee shall have paid the full purchase price for the number of shares in respect of which the option was exercised and any
withholding taxes due, (ii) the Optionee shall have delivered to the Company a fully executed and undated stock power with respect to any Shares that have not yet vested, (iii) the Company shall have issued the Shares to the Optionee, and
(iv) the Optionee’s name shall have been entered as a stockholder of record on the books of the Company. Upon the occurrence of all of the foregoing events, the Optionee shall have full ownership rights with respect to such shares, subject
to the provisions of Section 7 hereof. 
 12.2 No Retention Rights. Nothing in this option or in the Plan shall confer upon the
Optionee any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining the Optionee) or of the Optionee, which
rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without Cause. 
 12.3
Notification. All notices and other communications hereunder shall be in writing and unless otherwise provided herein, shall be deemed to have been given when received by the party to whom such notice is to be given at its address set forth
below, or such other address for the party as shall be specified by notice given pursuant hereto: If to the Company, to: 
 Citadel Broadcasting Corporation 
 City Center West, Suite 400 
 7401 West Lake Mead Boulevard 
 Las Vegas, Nevada 89128 
 Attention: Secretary 
 If to the Optionee or the Optionee’s Legal Representative, to such Person at the address as reflected in the records of the Company. 
 12.4 Entire Agreement. This Agreement, the Notice of Grant and the Plan constitute the entire agreement, and supersede all prior agreements and
understandings, oral and written, between the parties hereto with respect to the option granted hereby. 
 12.5 Modification of
Agreement. This Agreement may be modified, amended or supplemented by written agreement of the parties hereto; provided, that the Company may modify, amend or supplement this Agreement in a writing signed by the Company without any further
action by the Optionee if such modification, amendment or supplement does not adversely affect the Optionee’s rights hereunder. 
 12.6
Severability. The invalidity or unenforceability of any provision of this Agreement in any jurisdiction shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability
of this Agreement, including that provision, in any other jurisdiction. If any provision of this Agreement is held unlawful or unenforceable in any respect, such provision shall be revised or applied in a manner that renders it lawful and
enforceable to the fullest extent possible. 
  

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 12.7 Waiver. The failure of the Company in any instance to exercise the Right of Repurchase shall
not constitute a waiver of any other repurchase rights that may subsequently arise under the provisions of this Agreement or any other agreement between the Company and the Optionee. No waiver of any breach or condition of this Agreement shall be
deemed to be a waiver of any other or subsequent breach or condition whether of like or different nature. 
 12.8 Assignment. The
Company may assign the Right of Repurchase to any person or entity selected by the Board of Directors, including, without limitation, one or more shareholders of the Company. 
 12.9 Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors
and assigns and upon the Optionee, the Optionee’s assigns and the Legal Representatives, heirs and legatees of the Optionee’s estate, whether or not any such person shall have become a party to this Agreement and have agreed in writing to
be join herein and be bound by the terms hereof. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by the Optionee without the prior written consent of the Company. 
 12.10 Headings. The headings and captions contained herein are for convenience only and shall not control or affect the meaning or construction of
any provision hereof. 
 12.11 Resolution of Disputes. Any dispute or disagreement which may arise under, or as a result of, or which
may in any way relate to, the interpretation, construction or application of this Agreement shall be determined by the Committee, in good faith, whose determination shall be final, binding and conclusive for all purposes. 
 12.12 Specific Performance. The parties hereto acknowledge that there will be no adequate remedy at law for a violation of any of the provisions
of this Agreement and that, in addition to any other remedies which may be available, all of the provisions of this Agreement shall be specifically enforceable in accordance with their respective terms. 
 12.13 Consent to Jurisdiction. Each party hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of
the State of New York and of the United States of America, in each case located in the County of New York, for any actions, suits or proceedings arising out of or relating to this Agreement, the Option or the Plan and the transactions contemplated
hereby and thereby (“Litigation”) (and agrees not to commence any Litigation except in any such court), and further agrees that service of process, summons, notice or document by U.S. registered mail to such party’s respective address
set forth in Section 12.3 hereof shall be effective service of process for any Litigation brought against such party in any such court. Each party hereby irrevocably and unconditionally waives any objection to the laying of venue of any
Litigation in the courts of the State of New York or of the United States of America, in each case located in the County of New York, and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that
any Litigation brought in any such court has been brought in an inconvenient forum. 
  

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 EXHIBIT A 
 SAMPLE NOTICE OF EXERCISE 
 Citadel Broadcasting Corporation 
 7201 W. Lake Mead Blvd. 
 Suite 400 
 Las Vegas, Nevada 89128 
 Attn: Corporate Secretary 
 To the Corporate Secretary: 
 I hereby
exercise my stock option granted under the Citadel Broadcasting Corporation Amended and Restated 2002 Long-Term Incentive Plan (the “Plan”) and notify you of my desire to purchase the shares that have been offered pursuant to the Plan and
related Option Agreement as described below. 
 I shall pay for the shares by delivery of a check payable to Citadel Broadcasting Corporation (the
“Company”) in the amount described below in full payment for such shares plus all amounts required to be withheld by the Company under state federal or local law as a result of such exercise or shall provide such documentation as is
satisfactory to the Company demonstrating that I am exempt from any withholding requirement. 
 This notice of exercise is
delivered this      day of              (month)          (year). 
  

							
	 No. Shares to be Acquired
	 	 Type of Option
	 	 Option Price
	 	 Total

		 	Nonstatutory	 		 	
		 	Incentive	 		 	
	Estimated Withholding	 	Nonstatutory only	 		 	
		 		 	Amount Paid	 	

  

	
	Very truly yours,
	
	  

	Signature of Optionee
	
	Optionee’s Name and Mailing Address
	  

	  

	  

	
	Optionee’s Social Security Number
	
	  

  

 1 

 EXHIBIT B 
 STOCK POWER 
 FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto Citadel Broadcasting Corporation (the “Company”),                     
(            ) shares of the common stock, par value $0.01 per share, of the Company standing in his/her/their/its name on the books of the Company represented by Certificate
No.                      herewith and do(es) hereby irrevocably constitute and appoint
                                 his/her/their/its attorney-in-fact, with full
power of substitution, to transfer such shares on the books of the Company. 
  

			
	Dated:                             	 	Signature:
                                
		
		 	Print Name and Mailing Address
		 	  

		 	  

		 	  

  

	Instructions:	Please do not fill in any blanks other than the signature line and printed name and mailing address. Please print your name exactly as you would like your name to appear
on the issued stock certificate. The purpose of this assignment is to enable the Company to exercise the Repurchase Right without requiring additional signatures on your part. 

  

 1 

 EXHIBIT C 
 SECTION 83(b) ELECTION 
 This statement is being made under Section 83(b) of
the Internal Revenue Code, pursuant to Treas. Reg. Section 1.83-2. 
  

	(1)	The taxpayer who performed the services is: 

  

					
	Name:	 	  
	 	
			
	Address:	 	  
	 	
			
		 	  
	 	
			
	Social Security Number:	 	  
	 	

  

	(2)	The property with respect to which the election is being made is
                     shares of the common stock, par value $0.01 per share, of Citadel Broadcasting Corporation. 

  

	(3)	The property was issued on                     . 

 

	(4)	The taxable year in which the election is being made is the calendar year         . 

  

	(5)	The property is subject to a right of repurchase pursuant to which the issuer has the right to acquire the property at the lower of fair market value or the original purchase price,
at any time prior to the vesting date. The issuer’s repurchase right lapses in a series of installments over a         -year period ending on
                    , 200  . 

  

	(6)	The fair market value at the time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) is
$             per share. 

  

	(7)	The amount paid for such property is $             per share. 

  

	(8)	A copy of this statement was furnished to the Company for whom taxpayer rendered the services underlying the transfer of property. 

  

	(9)	This statement is executed on
                                        .

  

					
	  
	 		 	  

	Spouse (if any)	 		 	Taxpayer

 This election must be filed with the Internal Revenue Service Center with which taxpayer files his or her
Federal income tax returns and must be made within thirty (30) days after the execution date of the Notice of Exercise. This filing should be made by registered or certified mail, return receipt requested. You should retain two (2) copies
of the completed form for filing with your Federal and state tax returns for the current tax year and an additional copy for your records. 
  

 1 

 EXHIBIT D 
 RIGHT OF REPURCHASE 
 EXERCISE
NOTICE 
 [Date] 
  

	 	Re:	Exercise of Right of Repurchase 

 Dear Optionee: 
 The Company wishes to exercise its Right of Repurchase under the Citadel Broadcasting Corporation Amended and Restated 2002
Long-Term Incentive Plan (“Plan”) and buy back from you shares of common stock of the Company that you acquired upon the exercise of one or more stock options granted to you pursuant to the Plan under the terms described below: 

 

									
	 Date of Initial Option Grant
	 	 Shares to be Repurchased
	 	 FMV of one Share
	 	 Purchase Price
 per Share
	 	 Repurchase Price

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 	Total	 	

 Other Terms 
 Shares shall be repurchased on [insert date]. The Company shall pay the repurchase price to you by delivery of payment by check on or within two (2) days following such date. Once the payment is made
available to you, you shall no longer be considered a shareholder with respect to those shares. 
 *    *    * 
 Should you have any additional questions, please contact
[insert contact person and contact information]. 
  

 1Amended and Restated 2006 Long-Term Incentive Compensation Plan

 EXHIBIT 10.1 
 NATCO GROUP INC. 
 2006 LONG-TERM INCENTIVE COMPENSATION PLAN 
 (As Amended and Restated Effective as of June 22, 2006) 
 1 PURPOSE OF THE PLAN 
 The purpose of the NATCO GROUP INC. 2006 Long-Term Incentive Compensation Plan, as amended and restated (the
“Plan”), is to provide a means through which NATCO Group Inc., a Delaware corporation (the “Company”) and its Affiliates may attract able persons to serve as Directors or Consultants or to enter the employ of the
Company and its Affiliates and to provide a means whereby those individuals upon whom the responsibilities of the successful administration and management of the Company and its Affiliates rest, and whose present and potential contributions to the
Company and its Affiliates are of importance, can acquire and maintain stock ownership, thereby strengthening their concern for the welfare of the Company and its Affiliates. A further purpose of the Plan is to provide such individuals with
additional incentive and reward opportunities designed to enhance the profitable growth of the Company and its Affiliates. Accordingly, the Plan provides for granting Incentive Stock Options, options that do not constitute Incentive Stock Options,
Restricted Stock Awards, Performance Awards and Phantom Stock Awards, or any combination of the foregoing, as is best suited to the circumstances of the particular employee, Consultant or Director, as provided in this Plan. 
 2 DEFINITIONS 
 The following
definitions shall be applicable throughout the Plan: 
 “Affiliate” means any corporation, partnership, limited liability company,
partnership, association, trust or other organization which, directly or indirectly, controls, is controlled by, or is under common control with, the Company. For purposes of the preceding sentence, “control” (including, with correlative
meanings, the terms “controlled by” and “under common control with”), as used with respect to any entity or organization, shall mean the possession, directly or indirectly, of the power (i) to vote more than 50% of the
securities having ordinary voting power for the election of directors of the controlled entity or organization or (ii) to direct or cause the direction of the management and policies of the controlled entity or organization, whether through the
ownership of voting securities or by contract or otherwise. 
 “Award” means, individually or collectively, any Option, Restricted Stock
Award, Performance Award or Phantom Stock Award. 
 “Board” means the Board of Directors of the Company.

 “Code” means the Internal Revenue Code of 1986, as amended. Reference in the Plan to any section of the Code shall be deemed to include
any amendments or successor provisions to such section and any regulations under such section. 
 “Committee” means a committee of the Board that is selected as provided in Paragraph 4.1. 

 “Common Stock” means the common stock, par value $0.01 per share, of the Company, or any security into
which such Common Stock may be changed by reason of any transaction or event of the type described in Paragraph 11. 
 “Company” means NATCO Group Inc., a Delaware corporation. 
 “Consultant” means any person who is not an employee
or a Director and who is providing advisory or consulting services to the Company or any Affiliate. 
 “Corporate
Change” shall have the meaning assigned to such term in Paragraph 11.3. 
 “Director” means an individual elected to the Board by
the stockholders of the Company or by the Board under applicable corporate law who is serving on the Board on the date the Plan is adopted by the Board or is elected to the Board after such date. 
 An “employee” means any person (including a Director) in an employment relationship with the Company or any Affiliate.

 “Fair Market Value” means, as of any specified date, the mean of the high and low sales prices of the Common Stock reported by
(i) the National Market System or NASDAQ on that date or (ii) if the Common Stock is listed on a national stock exchange, reported on the stock exchange composite tape on that date (or such other reporting service approved by the
Committee); or, in either case, if no prices are reported on that date, on the last preceding date on which such prices of the Common Stock are so reported. If the Common Stock is traded over the counter at the time a determination of its fair
market value is required to be made under the Plan, its fair market value shall be deemed to be equal to the average between the reported high and low or closing bid and asked prices of Common Stock on the most recent date on which Common Stock was
publicly traded. In the event Common Stock is not publicly traded at the time a determination of its value is required to be made under the Plan, the determination of its fair market value shall be made by the Committee in such manner as it deems
appropriate and is consistent with Section 409A of the Code. 
 “Incentive Stock Option” means an
incentive stock option within the meaning of Section 422 of the Code. 
 “1934 Act” means the
Securities Exchange Act of 1934, as amended. 
 “Option” means an Award granted under Paragraph 7 and includes both Incentive Stock Options
to purchase Common Stock and Options that do not constitute Incentive Stock Options to purchase Common Stock. 
 “Option Agreement” means a written agreement between the Company and a Participant with respect to an Option. 
 “Participant” means an employee, Consultant or Director who has been granted an Award. 
 “Performance Award” means an Award granted under Paragraph 9. 
  

 2 

 “Performance Award Agreement” means a written agreement between the Company and a Participant with
respect to Performance Awards. 
 “Phantom Stock Award” means an Award granted under Paragraph 10.

 “Phantom Stock Award Agreement” means a written agreement between the Company and a Participant with respect to a Phantom Stock Award.

 “Plan” means the NATCO Group Inc. 2006 Long-Term Incentive Compensation Plan, as amended from time to
time. 
 “Restricted Stock Agreement” means a written agreement between the Company and a Participant with respect to a Restricted Stock
Award. 
 “Restricted Stock Award” means an Award granted under Paragraph 8. 
 “Rule 16b-3” means SEC Rule 16b-3 promulgated under the 1934 Act, as such may be amended from time to time, and any successor rule, regulation or
statute fulfilling the same or a similar function. 
 “Stock Appreciation Right” shall have the meaning
assigned to such term in Paragraph 7.4. 
 3 EFFECTIVE DATE AND DURATION OF THE PLAN 
 The Plan shall become effective upon its adoption by the Board of Directors, provided that it is approved by the Company’s stockholders within 12 months after its adoption. No Awards may be granted under the Plan
prior to its approval by the stockholders of the Company. If this Plan is not so approved by the stockholders, then no Awards shall be granted under the Plan. No Awards may be granted under the Plan after 10 years from the date this Plan is adopted
by the Board of Directors. The Plan shall remain in effect until all Options granted under the Plan have been exercised or expired, all Restricted Stock Awards granted under the Plan have vested or been forfeited, and all Performance Awards and
Phantom Stock Awards have been satisfied or expired. 
 4 ADMINISTRATION 
 4.1 Composition of Committee. The Plan shall be administered by a committee of, and appointed by, the Board that shall be comprised solely of two or more outside Directors (within the meaning of the term
“outside directors” as used in Section 162(m) of the Code and applicable interpretive authority thereunder and within the meaning of the term “Non-Employee Director” as defined in Rule 16b-3). 
 4.2 Powers. Subject to the express provisions of the Plan, the Committee shall have authority, in its discretion, to determine which
employees, Consultants or Directors shall receive an Award, the time or times when such Award shall be made, the type of Award that shall be made, the number of shares to be subject to each Option or Restricted Stock Award, the number of shares
subject to or the value of each Performance Award, and the value of each Phantom Stock Award. In making such determinations, the Committee shall take into account the nature 
  

 3 

 of the services rendered by the respective employees, Consultants or Directors, their present and potential contribution
to the Company’s success and such other factors as the Committee in its sole discretion shall deem relevant. 
 4.3 Additional
Powers. The Committee shall have such additional powers as are delegated to it by the other provisions of the Plan. Subject to the express provisions of the Plan, such powers shall include the power to construe the Plan and the respective
agreements executed hereunder, to prescribe rules and regulations relating to the Plan, and to determine the terms, restrictions and provisions of the agreement relating to each Award, including such terms, restrictions and provisions as shall be
requisite in the judgment of the Committee to cause designated Options to qualify as Incentive Stock Options, and to make all other determinations necessary or advisable for administering the Plan. The Committee may correct any defect or supply any
omission or reconcile any inconsistency in the Plan or in any agreement relating to an Award in the manner and to the extent it shall deem expedient to carry it into effect. The determinations of the Committee on these matters shall be conclusive.

 5 SHARES SUBJECT TO THE PLAN; AWARD LIMITS; GRANT OF AWARDS 
 5.1 Shares Subject to the Plan and Award Limits. Subject to adjustment in the same manner as provided in Paragraph 11 with respect to shares of Common Stock subject to Options then outstanding, the
aggregate number of shares of Common Stock that may be issued under the Plan shall not exceed 950,000 shares (the “Authorized Shares”). In addition, the aggregate maximum number of shares that may be issued under the Plan through
Restricted Stock Awards and Performance Awards shall not exceed 475,000 and the aggregate maximum number of shares of common Stock that may be issued under the Plan through Incentive Stock Options shall not exceed 950,000. Shares shall be deemed to
have been issued under the Plan only (i) to the extent actually issued and delivered pursuant to an Award or (ii) to the extent an Award denominated in shares of Common Stock is settled in cash. To the extent that an Award lapses or the
rights of its holder terminate, any shares of Common Stock subject to such Award shall again be available for the grant of an Award under the Plan. In addition, shares surrendered in payment of the exercise price or purchase price of an Award, and
shares withheld for payment of applicable employment taxes and/or withholding obligations associated with an Award shall again be available for the grant of an Award under the Plan. Notwithstanding any provision in the Plan to the contrary, the
maximum number of shares of Common Stock that may be subject to (a) Options that do not constitute Incentive Stock Options, Restricted Stock Awards and Performance Awards denominated in shares of Common Stock granted to any one individual over
the life of the plan may not exceed 475,000 (subject to adjustment in the same manner as provided in Paragraph 11 with respect to shares of Common Stock subject to Options then outstanding), (b) Incentive Stock Options denominated in shares of
Common Stock granted to any one individual during any calendar year may not exceed 100,000 shares of Common Stock (subject to adjustment in the same manner as provided in Paragraph 11 with respect to shares of Common Stock subject to Options then
outstanding), and (c) the maximum amount of compensation that may be paid under all Performance Awards denominated in cash (including the Fair Market Value of any shares of Common Stock paid in satisfaction of such Performance Awards) granted
to any one individual during any calendar year may not exceed $5,000,000, and any payment due with respect to a Performance Award shall be paid no later than 10 years after the date of grant of such Performance Award. The limitations set forth in
the preceding 
  

 4 

 sentences shall be applied in a manner that will permit compensation generated under the Plan to constitute
“performance-based” compensation for purposes of Section 162(m) of the Code, including, without limitation, counting against such maximum number of shares, to the extent required under Section 162(m) of the Code and applicable
interpretive authority thereunder, any shares subject to Options that are canceled or repriced. 
 5.2 Grant of Awards. The
Committee may from time to time grant Awards to one or more employees, Consultants or Directors determined by it to be eligible for participation in the Plan in accordance with the terms of the Plan. 
 5.3 Stock Offered. Subject to the limitations set forth in Paragraph 5.1, the stock to be offered pursuant to the grant of an Award may be
authorized but unissued Common Stock or Common Stock previously issued and outstanding and reacquired by the Company. Any of such shares which remain unissued and which are not subject to outstanding Awards at the termination of the Plan shall cease
to be subject to the Plan but, until termination of the Plan, the Company shall at all times make available a sufficient number of shares to meet the requirements of the Plan. 
 6 ELIGIBILITY 
 Awards may be granted only to persons who, at the time of grant, are employees, Consultants or
Directors. An Award may be granted on more than one occasion to the same person, and, subject to the limitations set forth in the Plan, such Award may include an Incentive Stock Option, an Option that is not an Incentive Stock Option, a Restricted
Stock Award, a Performance Award, a Phantom Stock Award or any combination thereof. 
 7 STOCK OPTIONS 
 7.1 Option Period. The term of each Option shall be as specified by the Committee at the date of grant, but in no event shall an Option be
exercisable after the expiration of 10 years from the date of grant. 
 7.2 Limitations on Exercise of Option. An Option shall
be exercisable in whole or in such installments and at such times as determined by the Committee. 
 7.3 Special Limitations on
Incentive Stock Options. An Incentive Stock Option may be granted only to an individual who is employed by the Company or any parent or subsidiary corporation (as defined in Section 424 of the Code) at the time the Option is granted. To
the extent that the aggregate Fair Market Value (determined at the time the respective Incentive Stock Option is granted) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by an individual during any
calendar year under all incentive stock option plans of the Company and its parent and subsidiary corporations exceeds $100,000, such Incentive Stock Options shall be treated as Options which do not constitute Incentive Stock Options. The Committee
shall determine, in accordance with applicable provisions of the Code, Treasury Regulations and other administrative pronouncements, which of a Participant’s Incentive Stock Options will not constitute Incentive Stock Options because of such
limitation and shall notify the Participant of such determination as soon as practicable after such determination. No Incentive Stock Option shall be granted to an individual if, at the time 
  

 5 

 the Option is granted, such individual owns stock possessing more than 10% of the total combined voting power of all
classes of stock of the Company or of its parent or subsidiary corporation, within the meaning of Section 422(b)(6) of the Code, unless (i) at the time such Option is granted the option price is at least 110% of the Fair Market Value of
the Common Stock subject to the Option and (ii) such Option by its terms is not exercisable after the expiration of five years from the date of grant. An Incentive Stock Option shall not be transferable otherwise than by will or the laws of
descent and distribution, and shall be exercisable during the Participant’s lifetime only by such Participant or the Participant’s guardian or legal representative. 
 7.4 Option Agreement. Each Option shall be evidenced by an Option Agreement in such form and containing such provisions not inconsistent
with the provisions of the Plan as the Committee from time to time shall approve, including, without limitation, provisions to qualify an Option as an Incentive Stock Option under Section 422 of the Code. Each Option Agreement shall specify the
effect of termination of (i) employment (by retirement, death, disability or otherwise), (ii) the consulting or advisory relationship or (iii) membership on the Board, as applicable, on the exercisability of the Option. An Option
Agreement may provide for the payment of the option price, in whole or in part, by the delivery of a number of shares of Common Stock (plus cash if necessary) having a Fair Market Value equal to such option exercise price. Moreover, an Option
Agreement may provide for a “cashless exercise” of the Option by establishing procedures satisfactory to the Committee with respect thereto. Further, an Option Agreement may provide for the surrender of the right to purchase shares under
the Option in return for a payment in cash or shares of Common Stock or a combination of cash and shares of Common Stock equal in value to the excess of the Fair Market Value of the shares with respect to which the right to purchase is surrendered
over the option price therefor (“Stock Appreciation Rights”), on such terms and conditions as the Committee in its sole discretion may prescribe, and, in such case, the exercise of the Stock Appreciation Right shall result in the
surrender of the right to purchase a number of shares under the Option equal to the number of shares with respect to which the Stock Appreciation Right is exercised (and vice versa). In the case of any such Stock Appreciation Right that is granted
in connection with an Incentive Stock Option, such right shall be exercisable only when the Fair Market Value of the Common Stock exceeds the price specified therefore in the Option or the portion thereof to be surrendered. The terms and conditions
of the respective Option Agreements need not be identical. Subject to the consent of the Participant, the Committee may, in its sole discretion, amend an outstanding Option Agreement from time to time in any manner that is not inconsistent with the
provisions of the Plan (including, without limitation, an amendment that accelerates the time at which the Option, or a portion thereof, may be exercisable); provided, however, that, except as provided in Paragraph 11, the Committee may not, without
approval of the stockholders of the Company, amend any outstanding Option Agreement to lower the option price (or cancel and replace any outstanding Option Agreement with Option Agreements having a lower option price). 
 7.5 Option Price and Payment. The price at which a share of Common Stock may be purchased upon exercise of an Option shall be determined by
the Committee but, subject to adjustment as provided in Paragraph 11, such purchase price shall not be less than the Fair Market Value of a share of Common Stock on the date such Option is granted. The Option or portion thereof may be exercised by
delivery of an irrevocable notice of exercise to the Company, as specified by the Committee. The purchase price of the Option or portion thereof 
  

 6 

 shall be paid in full in the manner prescribed by the Committee. Separate stock certificates shall be issued by the
Company for those shares acquired pursuant to the exercise of an Incentive Stock Option and for those shares acquired pursuant to the exercise of any Option that does not constitute an Incentive Stock Option. 
 7.6 Shareholder Rights and Privileges. The Participant shall be entitled to all the privileges and rights of a stockholder only with
respect to such shares of Common Stock as have been purchased under the Option and for which certificates of stock have been registered in the Participant’s name. 
 7.7 Options and Rights in Substitution for Options Granted by Other Employers. Options and Stock Appreciation Rights may be granted under the Plan from time to time in substitution for options held by
individuals providing services to corporations or other entities who become employees, Consultants or Directors as a result of a merger or consolidation or other business transaction with the Company or any Affiliate. 
 8 RESTRICTED STOCK AWARDS 
 8.1 Forfeiture
Restrictions To Be Established by the Committee. Shares of Common Stock that are the subject of a Restricted Stock Award shall be subject to restrictions on disposition by the Participant and an obligation of the Participant to forfeit and
surrender the shares to the Company under certain circumstances (the “Forfeiture Restrictions”). The Forfeiture Restrictions shall be determined by the Committee in its sole discretion, and the Committee may provide that the Forfeiture
Restrictions shall lapse upon (i) the attainment of one or more performance measures established by the Committee that are based on (1) the price of a share of Common Stock, (2) the Company’s earnings per share, (3) the
Company’s market share, (4) the market share of a business unit of the Company designated by the Committee, (5) the Company’s sales, (6) the sales of a business unit of the Company designated by the Committee, (7) the
net income (before or after taxes) of the Company or any business unit of the Company designated by the Committee, (8) the cash flow return on investment of the Company or any business unit of the Company designated by the Committee,
(9) the earnings before or after interest, taxes, depreciation and/or amortization of the Company or any business unit of the Company designated by the Committee, (10) the economic value added, (11) the return on stockholders’
equity achieved by the Company, (12) the total stockholders’ return achieved by the Company, (13) return on capital employed, (14) return on assets or (15) an arithmetically weighted combination of any of the foregoing;
(ii) the Participant’s continued employment with the Company or continued service as a Consultant or Director for a specified period of time; (iii) the occurrence of any event or the satisfaction of any other condition specified by
the Committee in its sole discretion; or (iv) a combination of any of the foregoing. The performance measures described in clause (i) of the preceding sentence may be subject to adjustment for specified significant extraordinary items or
events, and may be absolute, relative to one or more other companies, or relative to one or more indexes, and may be contingent upon future performance of the Company or any Affiliate, division, or department thereof. In the case of a Restricted
Stock Award with performance criteria as the Forfeiture Restrictions, the Committee shall also require under the terms of the Restricted Stock Award that such Forfeiture Restrictions shall not lapse prior to the expiration of one year from the date
of grant of such award. In the case of a Restricted Stock Award with continued service to the Company or its Affiliates as the applicable 
  

 7 

 Forfeiture Restriction, the Committee shall also require under the terms of the Restricted Stock Award that such
Forfeiture Restriction shall not lapse prior to the expiration of three years from the date of grant of such award. Subject to the foregoing, each Restricted Stock Award may have different Forfeiture Restrictions, in the discretion of the Committee,
and may, if approved by the Committee, provide for Forfeiture Restrictions to lapse upon occurrence of a Corporate Change. 
 8.2 Other
Terms and Conditions. Common Stock awarded pursuant to a Restricted Stock Award shall be represented by a stock certificate registered in the name of the Participant. Unless provided otherwise in a Restricted Stock Agreement, the Participant
shall have the right to receive dividends with respect to Common Stock subject to a Restricted Stock Award, to vote Common Stock subject thereto, and to enjoy all other stockholder rights, except that (i) the Participant shall not be entitled
to delivery of the stock certificate until the Forfeiture Restrictions have expired, (ii) the Company shall retain custody of the Common Stock until the Forfeiture Restrictions have expired, (iii) the Participant may not sell, transfer,
pledge, exchange, hypothecate or otherwise dispose of the Common Stock until the Forfeiture Restrictions have expired, (iv) a breach of the terms and conditions established by the Committee pursuant to the Restricted Stock Agreement shall cause
a forfeiture of the Restricted Stock Award and, if so provided in the Restricted Stock Agreement, any Common Stock subject to such Award; and (v) the applicable Restricted Stock Agreement shall contain any additional provisions with respect to
the payment of any dividend with respect to Common Stock subject to a Restricted Stock Award directly to the Participant. At the time of such Award, the Committee may, in its sole discretion, prescribe additional terms, conditions or restrictions
relating to Restricted Stock Awards, including, but not limited to, rules pertaining to the termination of employment or service as a Consultant or Director (by retirement, disability, death or otherwise) of a Participant prior to expiration of the
Forfeitures Restrictions. Such additional terms, conditions or restrictions shall be set forth in a Restricted Stock Agreement made in conjunction with the Award. 
 8.3 Payment for Restricted Stock. The Committee shall determine the amount and form of any payment for Common Stock received pursuant to a Restricted Stock Award, provided that in the absence of such a
determination, a Participant shall not be required to make any payment for Common Stock received pursuant to a Restricted Stock Award, except to the extent otherwise required by law. 
 8.4 Committee’s Discretion to Accelerate Vesting of Restricted Stock Awards. The Committee may, in its discretion and as of a date
determined by the Committee, fully vest any or all Common Stock awarded to a Participant pursuant to a Restricted Stock Award, but only in the case of a Participant’s death, disability, retirement or involuntary separation without cause or in
the case of a Corporate Change and, upon such vesting, all restrictions applicable to such Restricted Stock Award shall terminate as of such date. Subject to the foregoing, any action by the Committee pursuant to this Paragraph 8.4 may vary among
individual Participants and may vary among the Restricted Stock Awards held by any individual Participant. Notwithstanding the preceding provisions of this Paragraph 8.4, the Committee may not take any action described in this Paragraph 8.4 with
respect to a Restricted Stock Award that has been granted to a “covered employee” (within the meaning of Treasury Regulation Section 1.162-27(c)(2)) if such Award has been designed to meet the exception for performance-based
compensation under Section 162(m) of the Code. 
  

 8 

 8.5 Restricted Stock Agreements. At the time any Award is made under this Paragraph 8, the
Company and the Participant shall enter into a Restricted Stock Agreement setting forth each of the matters contemplated hereby and such other matters as the Committee may determine to be appropriate. The terms and provisions of the respective
Restricted Stock Agreements need not be identical. Subject to the consent of the Participant and the restriction set forth in the last sentence of Paragraph 8.4, the Committee may, in its sole discretion, amend an outstanding Restricted Stock
Agreement from time to time in any manner that is not consistent with the provisions of this Plan. 
 9 PERFORMANCE AWARDS 
 9.1 Performance Period. The Committee shall establish, with respect to and at the time of each Performance Award, the number of share of
Common Stock subject to, or the maximum value of, the Performance Award and the performance period over which the performance applicable to the Performance Award shall be measured. 
 9.2 Performance Measures and Vesting. A Performance Award shall be awarded to a Participant contingent upon future performance of the
Company of any Affiliate, division, or department thereof during the performance period and, with respect to any Performance Award to be paid in Common Stock, a prescribed period of service with the Company or its Affiliates. The Committee shall
establish the performance measures applicable to such performance either (i) prior to the beginning of the performance period or (ii) within 90 days after the beginning of the performance period if the outcome of the performance targets is
substantially uncertain at the time such targets are established, but not later than the date that 25% of the performance period has elapsed; provided such measures may be made subject to adjustment for specified significant extraordinary items or
events. The performance measures may be absolute, relative to one or more other companies, or relative to one or more indexes. The performance measures established by the Committee may be based upon (1) the price of a share of Common Stock,
(2) the Company’s earnings per share, (3) the Company’s market share, (4) the market share of a business unit of the Company designated by the Committee, (5) the Company’s sales, (6) the sales of a business
unit of the Company designated by the Committee, (7) the net income (before or after taxes) of the Company or any business unit of the Company designated by the Committee, (8) the cash flow return on investment of the Company or any
business unit of the Company designated by the Committee, (9) the earnings before or after interest, taxes, depreciation, and/or amortization of the Company or any business unit of the Company designated by the Committee, (10) the economic
value added, (11) the return on stockholders’ equity achieved by the Company, (12) the total stockholders’ return achieved by the Company, (13) return on capital employed, (14) return on assets or (15) an
arithmetically weighted combination of any of the foregoing. The Committee, in its sole discretion, may provide for an adjustable Performance Award value based upon the level of achievement of performance measures. In addition to requiring
attainment of the applicable performance criteria, any Performance Award to be paid in Common Stock shall require that, as a further condition of payment entitlement, the Participant have completed one year of service with the Company or its
Affiliates from the date of grant of such award. 
 9.3 Awards Criteria. In determining the value of Performance Awards, the
Committee shall take into account a Participant’s responsibility level, performance, potential, 
  

 9 

 other Awards and such other considerations as it deems appropriate in its sole discretion. The Committee, in its sole
discretion, may provide for a reduction in the value of a Participant’s Performance Award during the performance period. 
 9.4
Payment. Following the end of the performance period and, in the case of a Performance Award that is payable in shares of Common Stock, provided that the Participant has also satisfied the applicable service requirement, the holder of a
Performance Award shall be entitled to receive payment of an amount not exceeding the number of shares of Common Stock subject to, or the maximum value of, the Performance Award, based on the achievement of the performance measures for such
performance period, as determined and certified in writing by the Committee. Payment of a Performance Award may be made in cash, Common Stock or a combination thereof, as determined by the Committee. Payment shall be made in a lump sum or in
installments as prescribed by the Committee, and as further provided in the applicable Performance Award agreement. If a Performance Award covering shares of Common Stock is to be paid in cash, such payment shall be based on the Fair Market Value of
the Common Stock on the payment date. 
 9.5 Termination of Award. A Performance Award shall terminate if the Participant does
not remain continuously in the employ of the Company and its Affiliates or does not continue to perform services as a Consultant or a Director for the Company and its Affiliates at all times during the applicable performance period, except as may be
determined by the Committee. 
 9.6 Performance Award Agreements. At the time any Award is made under this Paragraph 9, the
Company and the Participant shall enter into a Performance Award Agreement setting forth each of the matters contemplated hereby, and such additional matters as the Committee may determine to be appropriate. The terms and provisions of the
respective Performance Award Agreements need not be identical. 
 10 PHANTOM STOCK AWARDS 
 10.1 Phantom Stock Awards. Phantom Stock Awards are rights to receive shares of Common Stock (or the Fair Market Value thereof), or rights
to receive an amount equal to any appreciation or increase in the Fair Market Value of Common Stock over a specified period of time, which vest over a period of time as established by the Committee, without satisfaction of any performance criteria
or objectives. The Committee may, in its discretion, require payment or other conditions of the Participant respecting any Phantom Stock Award. A Phantom Stock Award may include, without limitation, a Stock Appreciation Right that is granted
independently of an Option. 
 10.2 Award Period. The Committee shall establish, with respect to and at the time of each
Phantom Stock Award, a period over which the Award shall vest with respect to the Participant. As to each Phantom Stock Award that may be paid in shares of Common Stock, the Committee shall require that such vesting period be at least three years
from the date of grant of such award. 
  

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 10.3 Awards Criteria. In determining the value of Phantom Stock Awards, the Committee shall
take into account a Participant’s responsibility level, performance, potential, other Awards and such other considerations as it deems appropriate. 
 10.4 Payment. Following the end of the vesting period for a Phantom Stock Award (or at such other time as the applicable Phantom Stock Award Agreement may provide), the holder of a Phantom Stock Award
shall be entitled to receive payment of an amount, not exceeding the maximum value of the Phantom Stock Award, based on the then vested value of the Award. Payment of a Phantom Stock Award may be made in cash, Common Stock, or a combination thereof
as determined by the Committee. Payment shall be made in a lump sum or in installments as prescribed by the Committee, and as further provided in the applicable Phantom Stock Award Agreement. Any payment to be made in cash shall be based on the Fair
Market Value of the Common Stock on the payment date. Cash dividend equivalents may be paid during or after the vesting period with respect to a Phantom Stock Award, as determined by the Committee, and as further provided in the applicable Phantom
Stock Award Agreement. 
 10.5 Termination of Award. A Phantom Stock Award shall terminate if the Participant does not remain
continuously in the employ of the Company and its Affiliates or does not continue to perform services as a Consultant or a Director of the Company and its Affiliates at all times during the applicable vesting period, except as may be otherwise
determined by the Committee. Notwithstanding the foregoing, the Committee shall require continuous service throughout the applicable vesting period for a Phantom Stock Award, except in the case of death, disability, retirement, involuntary
separation without cause, or a Corporate Change. 
 10.6 Phantom Stock Award Agreements. At the time any Award is made under
this Paragraph 10, the Company and the Participant shall enter into a Phantom Stock Award Agreement setting forth each of the matters contemplated hereby, and such additional matters as the Committee may determine to be appropriate. The terms and
provisions of the respective Phantom Stock Award Agreements need not be identical. 
 11 RECAPITALIZATION OR REORGANIZATION 
 11.1 No Effect on Right or Power. The existence of the Plan and the Awards granted hereunder shall not affect in any way the right or power
of the Board or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s or any Affiliate’s capital structure or its business, any merger or consolidation of the
Company or any Affiliate, any issue of debt or equity securities ahead of or affecting Common Stock or the rights thereof, the dissolution or liquidation of the Company or any Affiliate or any sale, lease, exchange or other disposition of all or any
part of its or any Affiliate’s assets or business or any other corporate act or proceeding. 
 11.2 Subdivision or Consolidation
of Shares; Stock Dividends. The shares with respect to which Awards may be granted are shares of Common Stock as presently constituted, but if, and whenever, prior to the expiration of an Award theretofore granted, the Company shall effect a
subdivision or consolidation of shares of Common Stock or the payment of a stock dividend on Common Stock without receipt of consideration by the Company, the number of shares of Common Stock with respect to which such Award may thereafter be
exercised or 
  

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 satisfied, as applicable (i) in the event of an increase in the number of outstanding shares shall be
proportionately increased, and the purchase price per share shall be proportionately reduced, and (ii) in the event of a reduction in the number of outstanding shares shall be proportionately reduced, and the purchase price per share shall be
proportionately increased. Any fractional share resulting from such adjustment shall be rounded up to the next whole share. 
 11.3
Recapitalizations and Corporate Changes. If the Company recapitalizes, reclassifies its capital stock, or otherwise changes its capital structure (a “recapitalization”), the number and class of shares of Common Stock
covered by an Award theretofore granted shall be adjusted so that such Award shall thereafter cover the number and class of shares of stock and securities to which the Participant would have been entitled pursuant to the terms of the
recapitalization if, immediately prior to the recapitalization, the Participant had been the holder of record of the number of shares of Common Stock then covered by such Award. If (i) the Company shall not be the surviving entity in any merger
or consolidation (or survives only as a subsidiary of an entity), (ii) the Company sells, leases or exchanges or agrees to sell, lease or exchange all or substantially all of its assets to any other person or entity, (iii) the Company is
to be dissolved and liquidated, (iv) any person or entity, including a “group” as contemplated by Section 13(d)(3) of the 1934 Act, acquires or gains ownership or control (including, without limitation, power to vote) of more
than 50% of the outstanding shares of the Company’s voting stock (based upon voting power), or (v) as a result of or in connection with a contested election of Directors, the persons who were Directors of the Company before such election
shall cease to constitute a majority of the Board (each such event is referred to in this Plan as a “Corporate Change”), no later than (x) 10 days after the approval by the stockholders of the Company of such merger,
consolidation, reorganization, sale, lease or exchange of assets or dissolution of such election of Directors or (y) 30 days after a Corporate Change of the type described in clause (iv), the Committee, acting in its sole discretion without the
consent or approval of any Participant, shall effect one or more of the following alternatives, which alternatives may vary among individual Participants and which may vary among Options held by any individual Participant: (1) accelerate the
time at which Options then outstanding may be exercised so that such Options may be exercised in full for a limited period of time on or before a specified date (before or after such Corporate Change) fixed by the Committee, after which specified
date all unexercised Options and all rights of Participants thereunder shall terminate, (2) require the mandatory surrender to the Company by all or selected Participants of some or all of the outstanding Options held by such Participants
(irrespective of whether such Options are then exercisable under the provisions of the Plan) as of a date, before or after such Corporate Change, specified by the Committee, in which event the Committee shall thereupon cancel such Options and the
Company shall pay (or cause to be paid) to each Participant an amount of cash per share equal to the excess, if any, of the amount calculated in Paragraph 11.4 (the “Change of Control Value”) of the shares subject to such Option
over the exercise price(s) under such Options for such shares, or (3) make such adjustments to Options then outstanding as the Committee deems appropriate to reflect such Corporate Change (provided, however, that the Committee may determine in
its sole discretion that no adjustment is necessary to Options then outstanding), including, without limitation, adjusting an Option to provide that the number and class of shares of Common Stock covered by such Option shall be adjusted so that such
Option shall thereafter cover securities of the surviving or acquiring corporation or other property (including, without limitation, cash) as determined by the Committee in its sole discretion, and/or adjusting an Incentive Stock Option in a manner
that causes such Option to no longer qualify as an Incentive Stock Option. 
  

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 11.4 Change of Control Value. For the purposes of clause (2) in Paragraph 11.3, the
“Change in Control Value” shall equal the amount determined in clause (i), (ii) or (iii), whichever is applicable, as follows: (i) the per share price offered to stockholders of the Company in any such merger,
consolidation, sale of assets or dissolution transaction, (ii) the price per share offered to stockholders of the Company in any tender offer or exchange offer whereby a Corporate Change takes place or (iii) if such Corporate Change occurs
other than pursuant to a tender or exchange offer, the fair market value per share of the shares into which such Options being surrendered are exercisable, as determined by the Committee as of the date determined by the Committee to be the date of
cancellation and surrender of such Options. In the event that the consideration offered to stockholders of the Company in any transaction described in this Paragraph 11.4 or Paragraph 11.3 consists of anything other than cash, the Committee shall
determine the fair cash equivalent of the portion of the consideration offered which is other than cash. 
 11.5 Other Changes in
Common Stock. In the event of changes in the outstanding Common Stock by reason of recapitalizations, reorganizations, mergers, consolidations, combinations, split-ups, split-offs, spin-offs, exchanges or other relevant changes in
capitalization or distributions to the holders of Common Stock occurring after the date of the grant of any Award and not otherwise provided for by this Paragraph 11, such Award and any agreement evidencing such Award shall be subject to adjustment
by the Committee at its sole discretion as to the number and purchase price of shares of Common Stock or other consideration subject to such Award. In the event of any such change in the outstanding Common Stock or distribution to the holders of
Common Stock, the aggregate number of shares available under the Plan and the maximum number of shares that may be subject to Awards granted to any one individual may be appropriately adjusted by the Committee, whose determination shall be
conclusive. Notwithstanding the foregoing, except as otherwise provided by the Committee, upon the occurrence of a Corporate Change that qualifies as a “change in effective ownership or control” of the Company within the meaning of
Section 409A of the Code, the Committee, acting in its sole discretion without the consent or approval of any Participant, may require the mandatory surrender to the Company by all or selected Participants of some or all of the outstanding
Performance Awards and Phantom Stock Awards as of a date, before or after such Corporate Change, specified by the Committee, in which event the Committee shall thereupon cancel such Performance Awards and Phantom Stock Awards and the Company shall
pay (or cause to be paid) to each Participant an amount of cash equal to the maximum value of such Performance Award or Phantom Stock Award which, in the event the applicable performance or vesting period set forth in such Performance Award or
Phantom Stock Award has not been completed, shall be multiplied by a fraction, the numerator of which is the number of days during the period beginning on the first day of the applicable performance or vesting period and ending on the date of the
surrender, and the denominator of which is the aggregate number of days in the applicable performance or vesting period. 
 11.6
Stockholder Action. Any adjustment provided for in the above subparagraphs of this Paragraph 11 shall be subject to any required stockholder action. 
  

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 11.7 No Adjustments Unless Otherwise Provided. Except as expressly provided elsewhere in
this Plan, the issuance by the Company of shares of stock of any class or securities convertible into shares of stock of any class, for cash, property, labor or services, upon direct sale, upon the exercise of rights or warrants to subscribe
therefor, or upon conversion of shares or obligations of the Company convertible into such shares or other securities, and in any case whether or not for fair value, shall not affect, and no adjustment by reason thereof shall be made with respect
to, the number of shares of Common Stock subject to Awards theretofore granted or the purchase price per share, if applicable. 
 12 AMENDMENT AND
TERMINATION OF THE PLAN 
 The Board in its discretion may terminate the Plan at any time with respect to any shares of Common Stock for which Awards have
not theretofore been granted. The Board shall have the right to alter or amend the Plan or any part thereof from time to time; provided that no change in the Plan may be made that would impair the rights of a Participant with respect to an Award
theretofore granted without the consent of the Participant, and provided, further, that the Board may not, without approval of the stockholders of the Company, (i) amend the Plan to increase the maximum aggregate number of shares that may be
issued under the Plan or change the class of individuals eligible to receive Awards under the Plan, (ii) amend or delete the final sentence of Paragraph 7.4 or (iii) amend the Plan to make a material modification of the eligibility
requirements for participation in the Plan. 
 13 MISCELLANEOUS 
 13.1 No Right To An Award. Neither the adoption of the Plan nor any action of the Board or of the Committee shall be deemed to give any individual any right to be granted an Option, a right to a
Restricted Stock Award, a right to a Performance Award or a right to a Phantom Stock Award, or any other rights hereunder except as may be evidenced by an Award agreement duly executed on behalf of the Company, and then only to the extent and on the
terms and conditions expressly set forth therein. The Plan shall be unfunded. The Company shall not be required to establish any special or separate fund or to make any other segregation of funds or assets to assure the performance of its
obligations under any Award. 
 13.2 No Employment/Membership Rights Conferred. Nothing contained in the Plan shall
(i) confer upon any employee or Consultant any right with respect to continuation of employment or of a consulting or advisory relationship with the Company or any Affiliate or (ii) interfere in any way with the right of the Company or any
Affiliate to terminate his or her employment or consulting or advisory relationship at any time. Nothing contained in the Plan shall confer upon any Director any right with respect to continuation of membership on the Board. 
 13.3 Other Laws; Withholding. The Company shall not be obligated to issue any Common Stock pursuant to any Award granted under the Plan at
any time when the shares covered by such Award have not been registered under the Securities Act of 1933, as amended, and such other state and federal laws, rules and regulations as the Company or the Committee deems applicable and, in the opinion
of legal counsel for the Company, there is no exemption from the registration requirements of such laws, rules and regulations available for the issuance 
  

 14 

 and sale of such shares. No fractional shares of Common Stock shall be delivered, nor shall any cash in lieu of
fractional shares be paid. The Company shall have the right to deduct in connection with all Awards, from any payment due or transfer made under any Award or under the Plan or from any compensation or other amount owing to a Participant (in cash,
Common Stock, other securities, Common Stock that would otherwise be issued pursuant to such Awards, other Awards or other property) any taxes required by law to be withheld or paid and to require any payments required to enable it to satisfy its
withholding and employment tax obligations. 
 13.4 No Restriction on Corporate Action. Nothing contained in the Plan shall be
construed to prevent the Company or any Affiliate from taking any action that is deemed by the Company or such Affiliate to be appropriate or in its best interest, whether or not such action would have an adverse effect on the Plan or any Award made
under the Plan. No Participant, beneficiary or other person shall have any claim against the Company or any Affiliate as a result of any such action. 
 13.5 Restrictions on Transfer. An Award (other than an Incentive Stock Option, which shall be subject to the transfer restrictions set forth in Paragraph 7.3) shall not be transferable otherwise than
(i) by will or the laws of descent and distribution, (ii) pursuant to an qualified domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act of 1974, as amended, or the rules thereunder or
(iii) with the consent of the Committee. 
 13.6 Governing Law. The Plan shall be governed by, and construed in accordance
with, the laws of the State of Delaware, without regard to conflicts of laws principles thereof. 
  

 15

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