Document:

Deferred Compensation and Retirement Plan

Table of Contents

 Exhibit 10.26 

 
 NPC INTERNATIONAL, INC. 

DEFERRED COMPENSATION 
 AND 
 RETIREMENT PLAN 

As Amended and Restated, Effective March 1, 2011 

Table of Contents

 Table of Contents 

 

							
			
	 Section 1.
	 	 Establishment and Amendment
	  	 	2	  
			
	 Section 2.
	 	 Definitions
	  	 	2	  
			
	 Section 3.
	 	 Eligibility for Participation
	  	 	7	  
			
	 Section 4.
	 	 Deferral of Compensation and Bonus Compensation
	  	 	8	  
			
	 Section 5.
	 	 Company Discretionary Contributions
	  	 	10	  
			
	 Section 6.
	 	 Elections of Timing and Form of Payment
	  	 	11	  
			
	 Section 7.
	 	 Investment of Deferral and Vesting Accounts
	  	 	17	  
			
	 Section 8.
	 	 Vesting
	  	 	17	  
			
	 Section 9.
	 	 Designation of Beneficiaries
	  	 	20	  
			
	 Section 10.
	 	 Merger, Consolidation and Sale of Assets
	  	 	20	  
			
	 Section 11.
	 	 Rights of Participants
	  	 	21	  
			
	 Section 12.
	 	 Administration
	  	 	21	  
			
	 Section 13.
	 	 Claims and Appeals
	  	 	21	  
			
	 Section 14.
	 	 Amendments and Termination
	  	 	22	  
			
	 Section 15.
	 	 Applicable Laws
	  	 	23	  
			
	 Section 16.
	 	 409A Compliance
	  	 	23	  
			
	 Section 17.
	 	 Incompetency
	  	 	23	  
			
	 Section 18.
	 	 Expenses
	  	 	24	  
			
	 Section 19.
	 	 Notices
	  	 	24	  
			
	 Section 20.
	 	 Withholding and Deductions
	  	 	24	  
			
	 Section 21.
	 	 Invalidity of Provisions
	  	 	24	  
			
	 Section 22.
	 	 Tax Advantages Not Guaranteed
	  	 	24	  
			
	 Section 23.
	 	 Return of Company Contributions
	  	 	25	  

  
 i 

Table of Contents

 NPC INTERNATIONAL, INC. 

DEFERRED COMPENSATION AND RETIREMENT PLAN 
 Section 1. Establishment and Amendment 
 NPC
INTERNATIONAL, INC. hereby amends and restates in its entirety, effective March 1, 2011, its deferred compensation and retirement plan for executives as described herein, which is known as the “NPC INTERNATIONAL, INC. DEFERRED COMPENSATION
AND RETIREMENT PLAN” (the “Plan”). The Plan is intended to constitute an unfunded plan maintained primarily to provide deferred compensation to a select group of management or highly compensated employees. 

Section 2. Definitions 
 2.1   Definitions. Whenever used herein, the following terms shall have the meanings set forth below: 
  

	 	(a)	“Acquiring Person” means any one person, or more than one person acting as a group. For purposes of this definition, persons will not be
considered to be “acting as a group” solely because they purchase or own stock or assets of the same corporation at the same time, or as a result of the same public offering. However, persons will be considered to be acting as a group if
they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. If a person, including an entity, owns stock in both corporations that enter into a
merger, consolidation, purchase or acquisition of stock, or similar transaction, such shareholder is considered to be acting as a group with other shareholders in a corporation prior to the transaction giving rise to the change and not with respect
to the ownership interest in the other corporation. 

  

	 	(b)	“Board” means the Board of Directors of the Company. 

 

	 	(c)	“Beneficiary” means the persons or entities designated pursuant to Section 9 who are to receive, upon a Participant’s death, payment
of the amounts credited to the Participant’s Deferral Account and the Nonforfeitable amounts credited to his Vesting Account as of the date of his death. 

 

	 	(d)	“Bonus Compensation” with respect to an active Participant or eligible Executive means the active Participant’s or eligible
Executive’s bonus compensation for the period to which his relevant Bonus Compensation Deferral Election relates. Eligible bonus compensation under this Plan shall include only bonus compensation payable pursuant to and based on achievement of
performance targets as defined in the NPC Annual Compensation Plan document, as amended from time to time. 

  

	 	(e)	 “Bonus Compensation Deferral Election” means the election made by an active Participant or eligible Executive, pursuant to
Section 4.2, to defer 

  
 2 

Table of Contents

	 	 
receipt of a portion of his Bonus Compensation earned by him in the calendar year to which the election relates. 

 

	 	(f)	“Change of Control” means the occurrence of a “Change in the Ownership of the Company,” a “Change in Effective Control of the
Company”, or a “Change in the Ownership of a Substantial Portion of the Company’s Assets” as such terms are further defined below: 

  

	 	(1)	Change in the Ownership of the Company. A Change in the Ownership of the Company shall occur if any Acquiring Person, other than one or more Excluded
Persons (as defined below), acquires ownership of stock of the Company that, together with stock held by such Acquiring Person, constitutes more than 50% of the total fair market value or total voting power of the stock of the Company. If an
Acquiring Person owns 50% of the total fair market value or total voting power of the stock of the Company, the acquisition of additional stock by such Acquiring Person shall not be constitute a Change in Ownership of the Company. An increase in the
percentage of stock owned by any Acquiring Person, as a result of a transaction in which the corporation acquires its stock in exchange for property will be treated as an acquisition of stock for purposes of this paragraph. In addition, this
paragraph applies only when there is a transfer of stock of a corporation (or issuance of stock of a corporation) and stock in such corporation remains outstanding after the transaction. 

 

	 	(2)	Change in Effective Control of the Company. A Change in Effective Control of the Company shall occur if either: 

 

	 	(i)	any Acquiring Person, other than one or more Excluded Persons (as defined below), acquires (or has acquired during the 12-month period ending on the date of the most
recent acquisition by such person or persons) ownership of stock of the Company possessing 35 percent or more of the total voting power of the stock of the Company, or 

 

	 	(ii)	A majority of members of the Company’s board of directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a
majority of the members of the Company’s board of directors prior to the date of the appointment or election. 

 If a person, or more than one person acting as a group (as defined below) owns 35% of the total fair market value or total voting power of the stock of the Company, the acquisition of additional stock by
such person or group shall not constitute a change in effective control of the Company. 

  
 3 

Table of Contents

	 	(3)	Change in the Ownership of a Substantial Portion of the Company’s Assets. A Change in the Ownership of a Substantial Portion of the Company’s
assets shall occur if any Acquiring Person, other than one or more Excluded Persons (as defined below), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the
Company that have a total Gross Fair Market Value equal to or more than 40 percent of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions, except for transfers of assets
described below. A transfer of assets by the Company is not treated as a Change in the Ownership of a Substantial Portion of the Company’s Assets if the assets are transferred to: 

 

	 	(i)	a shareholder of the Company (immediately before the asset transfer) in exchange for or with respect to its stock; 

 

	 	(ii)	an entity, 50 percent or more of the total value or voting power of which is owned, directly or indirectly, by the Company; 

 

	 	(iii)	a person, or more than one person acting as a group, that owns, directly or indirectly, 50 percent or more of the total value or voting power of all the outstanding
stock of the Company; or 

  

	 	(iv)	an entity, at least 50 percent of the total value or voting power of which is owned, directly or indirectly, by a person described in subparagraph (iii).

 Excluded Persons. For purposes of this subsection (e), Excluded Persons means
Gene Bicknell, his spouse, any of his lineal descendants, and any entity at least 50% owned by any of such persons. 
  

	 	(g)	“Committee” means the Stock Option and Compensation Committee of the Board. 

 

	 	(h)	“Company” means NPC International, Inc., a Kansas corporation, or any successor thereto. 

 

	 	(i)	“Company Discretionary Contribution” means the amount deposited by the Company and credited by the Trustee pursuant to Section 5.2 to the
Deferral Account or Vesting Account maintained by the Trustee on behalf of an active Participant or eligible Executive. Company Discretionary Contributions may be Class A Contributions or Class B Contributions. Unless otherwise so designated in
writing, all Company Discretionary Contributions shall be Class A Contributions. 

  
 4 

Table of Contents

	 	(j)	“Company Matching Contribution” means the amount (if any) deposited by the Company and credited by the Trustee pursuant to Section 5.1 to
the Deferral Account or Vesting Account maintained by the Trustee on behalf of an active Participant or eligible Executive. 

  

	 	(k)	“Compensation” with respect to an Executive means the Executive’s taxable wages reportable on Form W-2 (as defined below), less
(i) Bonus Compensation, and (ii) gains from the exercise of stock options granted by the Company, payable to the Executive during the pay period to which the relevant Compensation Deferral Election relates. Compensation reportable on Form
W-2 shall include only the following items of compensations: regular pay, overtime, vacation pay, jury duty pay, bereavement pay, short term disability pay, holiday pay, supplemental pay, tips reported, beeper pay and shift differential pay. For the
avoidance of doubt, compensation reportable on Form W-2 shall not include field and corporate fleet reimbursements, auto allowance, taxable moving expenses or similar items of de minimis compensation paid to reimburse an Executive for an expense
incurred or otherwise adjust for a benefit that otherwise could be a nontaxable benefit (e.g., long-term disability gross-up payments). 

  

	 	(l)	“Compensation Deferral Election” means the election made by an active Participant or eligible Executive, pursuant to Section 4.1, to defer
receipt of all or a portion of his Compensation earned in the calendar year to which the election relates. 

  

	 	(m)	“Deferral Account” means the account maintained by the Trustee under the Trust, on behalf of a Participant, to which the Company deposits and
the Trustee credits at the direction of the Company (i) the Compensation and Bonus Compensation the Participant elects to defer pursuant to his Compensation Deferral Election and/or Bonus Compensation Deferral Election, and (ii) the
Company Matching Contributions and Company Discretionary Contributions pursuant to Sections 5.1 and 5.2 which are entirely Nonforfeitable when made. Although this Plan may refer to a Deferral Account as “the Participant’s Deferral
Account” or as “his Deferral Account,” the amounts credited to such Deferral Account shall at all times be subject to the terms and conditions of the agreement and declaration establishing the Trust, and thus subject to the claims of
the Company’s general creditors. 

  

	 	(n)	“Executive” means an employee of the Company who is: 

 

	 	(1)	in a select group of management or highly paid employees; 

  

	 	(2)	exempt from the minimum wage and maximum hour requirements of the Fair Labor Standards Act, as described in 29 U.S.C. § 213(a) and regulations
promulgated thereunder; and 

  
 5 

Table of Contents

	 	(3)	a “highly compensated employee” within the meaning of Internal Revenue Code Section 414(q), or a regional manager, or both. With respect to a newly hired
employee, if the employee’s annualized projected Compensation and Bonus Compensation for his first calendar year of employment exceed the limit described in Section 414(q)(B)(i), he shall be considered a “highly compensated
employee” for such first calendar year of employment, for purposes of this Plan. 

  

	 	(o)	“Gross Fair Market Value” means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard
to any liabilities associated with such assets. 

  

	 	(p)	“Nonforfeitable,” as applied to Company Matching Contributions and Company Discretionary Contributions (and earnings thereon) deposited by the
Company and credited by the Trustee at the direction of the Company to a Participant’s Deferral Account or Vesting Account, means the portion of such deposits and credits to which the Participant or his Beneficiary are “vested” in
accordance with the vesting rules described in Section 8 and the other terms and conditions of the Plan, subject only to the claims of the Company’s general creditors as described in the agreement and declaration establishing the Trust.

  

	 	(q)	“Participant” means a person who has amounts currently deposited and credited to a Deferral Account or Vesting Account, or both, maintained by
the Trustee on his behalf pursuant to the terms of the Plan. An active Participant is a Participant who is actively employed by the Company as an Executive and who is actively participating in the Plan. 

 

	 	(r)	“Separation from Service” or “Separates from Service” means a Participant’s death,
retirement or other termination from employment with the Company. A Separation from Service will not occur if a Participant is on military leave, sick leave or other bona fide leave of absence (such as temporary employment by the government) if the
period of such leave does not exceed six months, or if longer, as long as the Participant has a right (either by contract or by statute) to reemployment with the Company. “Separation from Service” will be interpreted in a manner consistent
with Code Section 409A(a)(2)(A)(i). 

  

	 	(s)	“Specified Employee” means a Participant that would be a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the
Internal Revenue Code and Department of Treasury regulations and other interpretive guidance issued thereunder. 

  

	 	(t)	“Trust” means the NPC International, Inc. Deferred Compensation and Retirement Plan Group Trust 

  
 6 

Table of Contents

	 	(u)	“Trustee” means Great Plains Trust Company or the bank or trust company designated as its successor trustee under the agreement and declaration
establishing the Trust. 

  

	 	(v)	“Vesting Account” with respect to a Participant means the account maintained by the Trustee under the Trust, on behalf of the Participant, to
which the Company deposits and the Trustee credits at the direction of the Company the Company Matching Contributions (if any) and/or Company Discretionary Contributions (if any) pursuant to Sections 5.1 and 5.2 and which are not entirely
Nonforfeitable when made. Although this Plan may refer to a Vesting Account as “the Participant’s Vesting Account” or as “his Vesting Account,” the amounts credited to such Vesting Account shall at all times be subject to
the terms and conditions of the agreement and declaration establishing the Trust, and thus subject to the claims of the Company’s general creditors. 

  

	 	(w)	“Vesting Service” with respect to a Participant means the aggregate total of the Participant’s whole years (and fractional portions of
years) of employment by the Company, its predecessors and successors. The Committee may designate, from time to time and in its sole discretion, such other service (either for the Company or otherwise) that shall be considered Vesting Service with
respect to any particular Participant or eligible Executive. 

 2.2   Gender and
Number. Except when otherwise indicated by the context, any masculine terminology used herein shall also include the feminine gender, and the definition of any term herein in the singular shall also include the plural. 

Section 3. Eligibility for Participation 

3.1   Eligibility. An employee of the Company shall be eligible to participate in the Plan with
respect to a calendar year if: 
  

	 	(a)	He qualifies as an Executive with respect to such year; and 

  

	 	(b)	He is not eligible to participate, in such calendar year, in the Company’s qualified cash or deferred arrangement under Section 401(k) of the Internal Revenue
Code; and 

  

	 	(c)	 The Committee has selected such Executive to participate with respect to such year; where the Committee has once selected the Executive to participate,
and such Executive ceases to be eligible with respect to a year due solely to his eligibility to participate in the Company’s qualified cash or deferred arrangement for such year, and the Executive thereafter (for a subsequent year) ceases to
be eligible to participate in the cash or deferred arrangement he shall automatically be eligible to recommence participation in this Plan without further approval by the Committee, provided the Executive continues to meet the definition of
“Executive” 

  
 7 

Table of Contents

	 	 
and the Committee has not affirmatively declared the Executive to be ineligible. 

 Notwithstanding the foregoing, an active Participant or eligible Executive shall not be eligible to have Company Matching Contributions (if any) deposited and credited to his Vesting Account until the
later of (i) the first pay period beginning after the date on which he is first credited with a year of service and (ii) the first pay period beginning after the date on which he commences participation in this Plan. A “year of
service” for this purpose means a 12-consecutive month period, beginning on the active Participant’s or eligible Executive’s employment commencement date or any anniversary of that date, during which he has at least 1,000 hours of
service. An “hour of service” for this purpose means an hour with respect to which an active Participant or eligible Executive is entitled to payment for the performance of services for the Company, or entitled to payment even though no
services are performed for the Company (e.g., for periods of paid leave of absence, illness, holiday, layoff, jury duty, etc.). A Participant who satisfies this requirement, Separates from Service, and then again becomes an eligible Executive on
account of reemployment shall be eligible for Company Matching Contributions (if any) upon again becoming an active Participant. 
 3.2   Inactive Participants. If at a future date an active Participant no longer meets the requirements for participation in this Plan for reasons other than Separation from
Service, the Participant shall become an inactive Participant, retaining all of the rights accorded Participants by this Plan, except the right to make additional deferrals of Compensation and/or Bonus Compensation pursuant to Section 4, and to
have additional Company Matching Contributions (if any) and/or Company Discretionary Contributions (if any) deposited and credited to his Deferral Account or Vesting Account. Such an individual shall remain an inactive Participant unless and until
he again becomes an active Participant by again qualifying as an Executive entitled to participate in this Plan. 
 Amounts
deposited and credited to an active Participant’s Vesting Account which are not considered Nonforfeitable shall be forfeited pursuant to Section 5 at the time the Participant no longer meets the requirements for participation on account of
Separation from Service. 
 Section 4. Deferral of Compensation and Bonus Compensation

 4.1   Deferral of Compensation. At the times and in the manner specified below, an active
Participant or an eligible Executive may make an irrevocable election in writing to defer all or a portion of his Compensation until a specified date in the future. 
  

	 	(a)	Timing and Nature of Compensation Deferral Election. An active Participant or eligible Executive described in the preceding paragraph may make a
Compensation Deferral Election, prior to December 31 of any calendar year, to defer receipt of any percentage of his Compensation, in whole numbers (e.g., 1%, 7%, etc.), earned during pay periods occurring between January 1 and
December 31 of the following calendar year. 

  

	 	(b)	 Elections by Newly Eligible Executives. Notwithstanding anything in this Section 4.1 to the contrary, an Executive who first becomes
an eligible 

  
 8 

Table of Contents

	 	 
Executive during a calendar year (and has not otherwise been eligible to participate in a nonqualified deferred compensation plan of the same type which would be aggregated with this Plan under
Code Section 409A) may make the election described in subsection (a) above, as applicable, within 30 days after the date he first becomes an eligible Executive. Such an election shall be effective only with respect to Compensation earned
after the date of the election. 

  

	 	(c)	Uniform Payroll Deductions. Amounts deferred pursuant to this Section shall be deducted from the Participant’s Compensation on a uniform basis for
each pay period during the portion of the calendar year to which the Compensation Deferral Election relates. 

  

	 	(d)	Crediting of Deferred Amounts. As soon as practicable after Compensation subject to a Compensation Deferral Election would, but for the provisions of this
Plan, be payable to an active Participant or eligible Executive, the Company shall deposit with the Trustee, and direct the Trustee to credit to his Deferral Account, the amount of the Compensation that the active Participant or eligible Executive
elected to defer. 

 4.2   Deferral of Bonus Compensation. At the times and in the
manner specified below, an active Participant or an eligible Executive may make an irrevocable election in writing to defer all or a portion of his Bonus Compensation until a specified date in the future. 

 

	 	(a)	Timing and Nature of Bonus Compensation Deferral Election. An Active Participant or eligible Executive described in the preceding paragraph may make a
Bonus Compensation Deferral Election, prior to December 31 of any calendar year, to defer receipt of any percentage (up to 90%) of his Bonus Compensation, in whole numbers (e.g., 1%, 7%, etc.), earned in and payable with respect to the
following calendar year. An active Participant or eligible Executive who elects to defer more than 90% of his Bonus Compensation shall be deemed to have elected to defer 90% of his Bonus Compensation. 

 

	 	(b)	Elections by Newly Eligible Executives. Notwithstanding anything in this Section 4.2 to the contrary, when an Executive first becomes an eligible
Executive, he may make the election described in subsection (a) above, as applicable (to be applied to the Bonus Compensation earned by and payable to him with respect to the calendar year in which he is first an eligible Executive), within 30
days after the date he first becomes an eligible Executive. Such an election shall be effective only with respect to the portion of the Bonus Compensation earned after the date of the election. The portion of the Bonus Contribution earned after the
date of the election shall be determined by multiplying x times y, where x is such Participant’s Bonus Compensation for the calendar year and y is a percentage determined by dividing the remaining days of the calendar year by the total number
of days in the calendar year. 

  
 9 

Table of Contents

	 	(c)	Crediting of Deferred Amounts. As soon as practicable after Bonus Compensation that is subject to a Bonus Compensation Deferral Election would, but for
the provisions of this Plan, be payable to an active Participant or eligible Executive, the Company shall deposit with the Trustee, and direct the Trustee to credit to his Deferral Account, the amount of the Bonus Compensation the active Participant
or eligible Executive elected to defer. 

 Section 5. Company Discretionary
Contributions 
 5.1   Company Matching Contributions. At such times and in such amounts as
the Company in its sole discretion may decide, the Company may deposit with the Trustee, a Company Matching Contribution in the amount determined by the Company. Any such discretionary Company Matching Contribution shall be credited to such active
Participant’s or eligible Executive’s (i) Deferral Account, if the Company Matching Contribution is entirely Nonforfeitable when made, or (ii) Vesting Account, if the Company Matching Contribution is not entirely Nonforfeitable
when made. See Section 8 for rules concerning whether an amount is considered Nonforfeitable. 

EXAMPLE: Participant B is not 100% vested pursuant to the rules in Section 8. He has on file a Compensation
Deferral Election calling for the deferral of 10 percent of his Compensation, per pay period, earned between January 1 and December 31, 1999. For the first pay period in February, 1999, the Company owes Participant B $4,000 in
Compensation. Pursuant to his Deferral Election, the Company deposits $400 with the Trustee, directs the Trustee to credit the $400 to Participant B’s Deferral Account, and pays the balance to Participant B (less applicable withholdings).
Assuming the Company elects to make a nondiscretionary Matching Contribution equal to an amount not to exceed four percent (4%) of the sum of the Compensation and Bonus Compensation payable to the Participant, the Company also deposits with the
Trustee, and the Trustee credits to Participant B’s Vesting Account, a Company Matching Contribution equal to $160, or four percent of the Compensation payable to Participant B for the applicable pay period. Note that if Participant B had been
100% vested pursuant to the rules in Section 8; the discretionary Matching Contribution would have been deposited and credited to his Deferral Account. 
 EXAMPLE: Assume the same facts as above, except that Participant B also has on file a Bonus Compensation Deferral Election calling for the deferral of 50 percent of his Bonus
Compensation earned in 1999. For the first pay period in April, the Company owes Participant B $4,000 in Compensation, and $8,000 in Bonus Compensation as the Participant’s bonus for the first calendar quarter of 1999. Pursuant to Participant
B’s Deferral Elections, the Company deposits $4,400 ($400 in Compensation plus $4,000 in Bonus Compensation) with the Trustee, and directs the Trustee to credit this amount to Participant B’s Deferral Account, and pays the balance to
Participant B (less applicable withholdings). The Company also deposits $480 (four percent of the sum of the Compensation and Bonus Compensation payable to Participant B for the applicable pay period)

  
 10 

Table of Contents

 
with the Trustee, and directs the Trustee to credit that amount to Participant B’s Vesting Account. 
 5.2   Company Discretionary Contribution. At such times and in such amounts as the Company in its sole discretion may decide, the Company may deposit with the Trustee, and
in writing direct the Trustee to credit, a Company Discretionary Contribution to the Deferral Account or Vesting Account maintained by the Trustee on behalf of one or more Participants. The Company Discretionary Contribution shall be deposited and
credited to a Participant’s Deferral Account if the Company Discretionary Contribution is entirety Nonforfeitable when made, and shall be deposited and credited to his Vesting Account in other cases. 

Section 6. Elections of Timing and Form of Payment 

6.1   Electing the Time of Payment. 

 

	 	(a)	Compensation and Bonus Compensation. An active Participant or eligible Executive shall, in his Compensation Deferral Election and/or Bonus Compensation
Deferral Election (as the case may be), elect to receive payment of the deferred amount (and earnings thereon): 

  

	 	(1)	 not later than the
15th day of the third month following the calendar year in
which the date of Separation from Service occurs; 

	 	

	 	(2)	on a specified deferral ending date at least two years after the calendar year to which the deferral election applies; 

	 	

	 	(3)	the earlier of the dates specified in (1) and (2) above; 

  

	 	(4)	 the earlier of the date specified in (1) above, or not later than the 15th day of the third month following the calendar year in which the date of a Change of Control occurs; or

  

	 	(5)	 the earlier of (i) the date specified in (3) above, or (ii) not later than the
15th day of the third month after a Change of Control.

 EXAMPLE: Participant A completes a Compensation Deferral Election on December 1, 1998, for
deferral of a portion of his Compensation payable for 1999. Participant A elects to receive his deferred Compensation on July 1, 2002. The election is permissible because his deferral ending date is a date certain, after the second calendar
year that follows the 1999 calendar year, which is the year to which the deferral election relates. 

Participant B similarly completes a Compensation Deferral Election form, but elects to receive her deferred
Compensation not later than the 15th day of the third
month following the calendar year in which the date of termination of her employment occurs. The election is permissible. 

  
 11 

Table of Contents

 Participant C similarly completes a Compensation Deferral Election form
and; like Participant A, selects a deferral ending date of July 1, 2002. But Participant C further elects to receive his deferred Compensation on the earlier of (i) not later than the 15th day of the third month following the calendar year in which the date
of his Separation from Service occurs, and (ii) the July 1, 2002, deferral ending date. The election is permissible. 
 Participant D similarly completes a Compensation Deferral Election form and, like Participant A, selects a deferral ending date of July 1, 2002. But Participant D further elects to receive his
deferred Compensation on the earlier of (i) not later than the 15th day of the third month following the calendar year in which the date of his Separation from Service occurs, (ii) the July 1, 2002, deferral ending date, or (iii) not later than the
15th day of the third month after a Change of Control. The
election is permissible. 
  

	 	(b)	Company Matching Contributions and Discretionary Contributions. 

 

	 	(1)	Company Matching Contributions. Any discretionary Company Matching Contribution (and earnings thereon) deposited with the Trustee and credited on behalf
of a Participant on account of his deferral of Compensation and/or Bonus Compensation shall be paid at the time at which is paid the deferred Compensation and/or deferred Bonus Compensation to which such Company Matching Contribution relates.

  

	 	(2)	Company Discretionary Contributions. Prior to a calendar year with respect to which the Company may deposit with the Trustee, and direct the Trustee to
credit, a Company Discretionary Contribution on behalf of a Participant, an active Participant or Executive may elect, with respect to any such credit of a Company Discretionary Contribution, to receive payment thereof (and earnings thereon), on a
date described in subsections (1), (2), (3), (4) or (5) of subsection (a) above. Such an election will be effective only with respect to a Company Discretionary Contribution that becomes fixed and determined after the date of such
election. In the event no such election is made, the active Participant or eligible Executive shall be deemed to have elected to receive payment of such Company Discretionary Contribution upon Separation from Service. 

Notwithstanding the preceding paragraph, an Executive who first becomes an eligible Executive during a calendar year may make the
election described in the preceding paragraph within 30 days after the date he first becomes an eligible Executive. 
  

	 	(3)	 No Payment of Forfeitable Amounts. Notwithstanding anything in this Section 6.1 to the contrary, payment of Company Matching

  
 12 

Table of Contents

	 	 
Contributions or Company Discretionary Contributions deposited with the Trustee and credited to a Participant’s Vesting Account shall be made to the Participant or his Beneficiary only to
the extent such Contributions (and earnings thereon) are considered Nonforfeitable at the time such payment is otherwise due. 

  

	 	(c)	Exceptions. Notwithstanding anything in subsections (a) or (b) above, or in any other provision of the Plan, the following additional rules
apply to the time at which amounts are payable by this Plan: 

  

	 	(1)	 Death of Participant. The balance of a Participant’s Deferral Account, and the Nonforfeitable balance of his Vesting Account, shall
be paid to the Participant’s Beneficiary payable in a single, lump-sum payment not later than the 15th day of the third calendar month after the close of the calendar year in which the Participant’s death occurred. 

 

	 	(2)	 Disability of Participant. The balance of a Participant’s Deferral Account, and the Nonforfeitable balance of his Vesting Account,
shall be paid to the Participant upon the Participant’s disability (not later than the 15th day of the third calendar month after the close of the calendar year in which Disability occurred). For this purpose, “disability” of a Participant shall be deemed to have occurred if the
Participant (a) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not
less than 12 months, or (b) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income
replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of Company. For purposes of this Plan, it is not necessary that a determination of disability be made by the Social Security
Administration, but a Participant who is determined to be totally disabled by the Social Security Administration shall be deemed to have suffered a disability for purposes of this Plan. 

 

	 	(3)	Unforeseeable Emergency. Upon application by the Participant, distributions from a Participant’s Deferral Account, and the Nonforfeitable balance of
his Vesting Account, may be paid to the Participant in the event of an Unforeseeable Emergency. 

 An
Unforeseeable Emergency will be deemed to have occurred if the payment of benefits is for or on account of a severe financial hardship of the service provider or beneficiary resulting from: 

  
 13 

Table of Contents

	 	(i)	an illness or accident of the service provider or beneficiary, the service provider’s or beneficiary’s spouse, or the service provider’s or
beneficiary’s dependent (as defined in section 152(a)); 

  

	 	(ii)	loss of the service provider’s or beneficiary’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise
covered by insurance, for example, not as a result of a natural disaster); 

  

	 	(iii)	the imminent foreclosure of or eviction from the service provider’s or beneficiary’s primary residence; 

 

	 	(iv)	the need to pay for the funeral expenses of a spouse or a dependent; or 

  

	 	(v)	other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the service provider or beneficiary.

 Whether a service provider or beneficiary is faced with an unforeseeable emergency permitting a distribution
under this paragraph is to be determined based on the relevant facts and circumstances of each case, but, in any case, a distribution on account of unforeseeable emergency may not be made to the extent that such emergency is or may be relieved
through reimbursement or compensation from insurance or otherwise, by liquidation of the service provider’s assets, to the extent the liquidation of such assets would not cause severe financial hardship, or by cessation of deferrals under the
arrangement. The payment made pursuant to this subsection shall not exceed the amount the Committee, in its complete discretion, determines is necessary to satisfy the great financial hardship or unforeseeable emergency. In addition, the purchase of
a home and the payment of college tuition are not unforeseeable emergencies. 
  

	 	(d)	Final Payment from Trust. The final payment from the Trust to a Participant or Beneficiary may be adjusted to account for prior overpayments or
underpayments attributable to estimates of earnings allocable to prior distributions of deferred Compensation, deferred Bonus Compensation, Company Matching Contributions, and/or Company Discretionary Contributions. 

6.2   Electing the Form of Payment. 

 

	 	(a)	 Compensation and Bonus Compensation. Each active Participant or eligible Executive shall, in his Compensation and Bonus Compensation
Deferral Elections, elect the form in which the Plan shall pay his deferred 

  
 14 

Table of Contents

	 	 
Compensation and Bonus Compensation (and earnings thereon). Such election of the form of payment shall apply to that Compensation Deferral Election and/or Bonus Compensation Deferral Election (as
the case may be) and earnings thereon. Such an active Participant or eligible Executive may elect that such amounts be paid: 

  

	 	(1)	in a single lump sum; 

  

	 	(2)	 in five substantially equal annual installments, adjusted annually for earnings on the unpaid balance (payable not later than the 15th day of the third calendar month after the close of each calendar
year); or 

  

	 	(3)	 in ten substantially equal annual installments, adjusted annually for earnings on the unpaid balance (payable not later than the 15th day of the third calendar month after the close of each calendar
year). 

 In the event no such election is made, such amounts shall be paid in a lump sum.

  

	 	(b)	Company Matching Contributions and Discretionary Contributions. 

 

	 	(1)	Company Matching Contributions. Any Company Matching Contribution (and earnings thereon) deposited with the Trustee and credited on behalf of a
Participant on account of his deferral of Compensation and/or Bonus Compensation shall be paid in the form in which is paid the deferred Compensation and/or deferred Bonus Compensation to which such Company Matching Contribution relates.

  

	 	(2)	Company Discretionary Contributions. Each active Participant or eligible Executive shall, in the annual deferral election concerning Company Discretionary
Contributions that the Company may make on his behalf, elect the form in which the Plan shall pay any Company Discretionary Contribution (and earnings thereon) made with respect to the year to which the election relates. The active Participant or
eligible Executive may elect that such amounts be paid in any of the forms described in subsections (1), (2) or (3) in subsection (a) above. In the event no such election is made, such amounts shall be paid in a lump sum.

  

	 	(c)	 Subsequent Changes in Form of Payment. Subject to limitations stated in the next sentence, a Participant may during 2008 change his
election as to the form and timing of payment of deferred Compensation, Bonus Compensation and/or a Company Discretionary Contribution (and earnings thereon). Notwithstanding the foregoing an election that is not an initial election but is made
between January 1, 2008 and December 31, 2008 shall not be effective for benefits payable in 2008. Installment 

  
 15 

Table of Contents

	 	 
payments shall be treated as a series of payments for purposes of the subsequent payment election rules of Code Section 409A. After December 31, 2008, upon application to the Committee,
and with the approval in its sole discretion of the Committee, a Participant may make a subsequent election to receive payment of deferred Compensation, Bonus Compensation and/or a Company Discretionary Contribution (and earnings thereon) in any of
the forms described in paragraphs (1), (2) or (3) of subsection (a) above, notwithstanding the initial election as to form as reflected in the pertinent deferral election form(s), provided that the following conditions are met:

  

	 	(1)	such election may not take effect until at least 12 months after the date on which the election is made; 

 

	 	(2)	the payments that are subject to such election (excluding payments upon death, disability, unforeseeable emergency or change of control) must be delayed at least 5
years from the date the payments would have otherwise been made; and 

  

	 	(3)	in the case of a distribution upon a specified date or age, such election is made at least 12 months prior to the date the payment is scheduled to be paid (or in the
case of installment payments, 12 months prior to the date the first amount was scheduled to be paid). 

  

	 	(d)	Exceptions. Notwithstanding anything in subsections (a), (b) or (c) above, or any other provision of the Plan, the following additional rules
apply to the form in which amounts are payable by this Plan: 

  

	 	(1)	Death of Participant. Notwithstanding the provisions contained in subsections (a) and (c) of this section upon a Participant’s death, all
benefits payable under the Plan shall be paid in a single lump sum. 

  

	 	(2)	Disability of Participant. Subject to the requirements of subsections (a) and (c) of this section, a Participant may elect the form in which
payments made pursuant to subsection 6.1(c)(2) shall be made. If the Participant fails to timely make such election, payment shall be made in a single lump sum. 

 

	 	(3)	Unforeseeable Emergency. Payments made pursuant to subsection 6.1(c)(3) shall be made in a single lump sum. 

 

	 	(4)	Specified Employee. Any payment to be made to a Participant upon his or her separation from service while the Participant is a Specified Employee shall be
delayed until the first day of the seventh month following the Participant’s Separation from Service. 

  
 16 

Table of Contents

 Section 7. Investment of Deferral and Vesting Accounts

 The Deferral Account and Vesting Account maintained by the Trustee on behalf of a Participant shall be credited with
earnings (and losses) resulting from investment by the Trustee. Participants may request that amounts deposited and credited to their respective Deferral Accounts and/or Vesting Accounts be invested in particular investments, chosen from a set of
options established by the Committee. The Participants’ requests shall not be binding, however, and the Committee, in its sole discretion, may elect to: 
  

	 	(a)	instruct the Trustee to decline to honor Participant’s requests, 

  

	 	(b)	direct the Trustee to invest amounts deposited and credited to Deferral Accounts and/or Vesting Accounts in another manner, or 

 

	 	(c)	permit the Trustee to invest amounts deposited and credited to Deferral Accounts and/or Vesting Accounts in the manner the Trustee considers most appropriate.

 Section 8. Vesting 

8.1   Deferral Account. Deferred Compensation, Bonus Compensation, Company Matching Contributions and
Company Discretionary Contributions (and earnings thereon) deposited and credited to an active Participant’s or eligible Executive’s Deferral Account shall at all times be considered entirely Nonforfeitable (that is, 100% vested).

  

	 	(a)	Deferred Compensation and Bonus Compensation. In no event shall a Participant’s Deferred Compensation or Bonus Compensation be deposited and credited
other than to his Deferral Account. 

  

	 	(b)	Company Matching Contributions. Company Matching Contributions shall be deposited and credited to an active Participant’s or eligible
Executive’s Deferral Account only if at the time such Company Matching Contributions are made (i) the active Participant or eligible Executive is 100% vested pursuant to the vesting schedule set forth in Section 8.2(a) below, and the
Committee has not elected to apply additional vesting requirements to such Company Matching Contributions (as described below), or (ii) the active Participant or eligible Executive is not 100% vested pursuant to the vesting schedule set forth
in Section 8.2(a) below, but the Committee has elected to treat such Company Matching Contributions as entirely Nonforfeitable when made, in which event such accelerated vesting of the Company Matching Contributions shall be described by the
Committee in writing, and such writing shall thereafter be considered a part of this Plan. 

  

	 	(c)	 Company Discretionary Contributions. Class A Company Discretionary Contributions shall be deposited and credited to an active
Participant’s or eligible Executive’s Deferral Account only if at the time such Company Discretionary Contributions are made the active Participant or eligible 

  
 17 

Table of Contents

	 	 
Executive is 100% vested pursuant to the vesting schedule set forth in Section 8.2(a) below. 

 

	 	    	Class B Company Discretionary Contributions shall be deposited and credited to an active Participant’s or eligible Executive’s Deferral Account only if at the
time such Company Discretionary Contributions are made the Committee has elected to treat such Company Discretionary Contributions as entirely Nonforfeitable when made, in which event such accelerated vesting of the Company Discretionary
Contributions shall be described by the Committee in writing, and such writing shall thereafter be considered a part of this Plan. 

 8.2 Vesting Account. Company Matching Contributions and Company Discretionary Contributions (and earnings thereon) not deposited and credited to an active Participant’s or
eligible Executive’s Deferral Account shall be deposited and credited to his Vesting Account. Such amounts shall be considered Nonforfeitable (i.e., “vested”) according to the rules set forth below. 

 

	 	(a)	Company Matching Contributions. Company Matching Contributions (and earnings thereon) deposited and credited to a Participant’s Vesting Account shall
be considered Nonforfeitable (that is, the Participant shall be considered “vested” in such amounts) according to the following vesting schedule: 

 

			
	 Years of Vesting Service
	  	Nonforfeitable Percentage
	 Fewer than 1
	  	    0%
	 At least 1 but fewer than 2
	  	  25%
	 At least 2 but fewer than 3
	  	  50%
	 At least 3 but fewer than 4
	  	  75%
	 4 or more
	  	100%

 Notwithstanding the
foregoing, the Committee reserves the discretion to apply, with respect to one or more Participants, and/or with respect to such Matching Contributions as the Committee shall designate, a different vesting schedule (“discretionary vesting
schedule”) which the Committee shall articulate in writing and which shall thereafter be considered part of this Plan. 
  

	 	(b)	Company Discretionary Contributions. Class A Company Discretionary Contributions (and earnings thereon) deposited and credited to a
Participant’s Vesting Account shall be considered Nonforfeitable according the schedule described in (a) above (without regard to the last paragraph thereof). 

Class B Company Discretionary Contributions (and earnings thereon) deposited and credited to a Participant’s Vesting Account shall
be 

  
 18 

Table of Contents

 
considered Nonforfeitable at the time and in the manner prescribed by the Committee in the writing designating such Contributions as Class B Contributions. Such writing shall thereafter be
considered part of this Plan. 
  

	 	(c)	Termination Prior to Vesting. In the event a Participant terminates employment (by death, total and permanent disability, retirement or otherwise)
prior to the date on which the Company Matching Contributions and/or Company Discretionary Contributions (and earnings thereon) deposited and credited to his Vesting Account are considered Nonforfeitable, such forfeitable Contributions shall
thereafter be considered forfeited by the Participant and, to the extent permitted by the agreement and declaration establishing the Trust, shall remain in the Plan and shall be used by the Company to offset the Company’s contributions for the
year in which the forfeitures arose or in future years; provided however, that such forfeitures shall at all time be subject to the terms and conditions of the agreement and declaration establishing the Trust, and thus subject to the claims of the
Company’s general creditors. A Participant shall not be deemed to have terminated his employment, notwithstanding his failure to perform services for the Company, to the extent he remains on the Company’s rolls during a period of
authorized paid or unpaid leave of absence. 

 Payment of Forfeitable Contributions. In the event
amounts deposited and credited to an active Participant’s Vesting Account would, but for this subsection, be payable to him prior to the date on which such Contributions are considered Nonforfeitable pursuant to subsections (a) or
(b) above, payment of such Contributions shall be deferred until the date on which such Contributions are considered Nonforfeitable due to additional Vesting Service accrued by the active Participant. Payment shall be made not later than the
15th day of the third calendar month after the close of each calendar year in which such Contributions become Nonforfeitable. 
 In the event the Participant’s employment is terminated (by death, total and permanent disability, retirement or otherwise) prior to the date on which such Contributions (and earnings thereon) are
considered as Nonforfeitable, such Contributions shall thereafter be considered forfeited by the Participant and, to the extent permitted by the agreement and declaration establishing the Trust, shall remain in the Plan and shall be used by the
Company to offset the Company’s contributions for the year in which the forfeitures arose or in future years; provided however, that such forfeitures shall at all time be subject to the terms and conditions of the agreement and declaration
establishing the Trust, and thus subject to the claims of the Company’s general creditors. A Participant shall not be deemed to have terminated his employment, notwithstanding his failure to perform services for the Company, to the extent he
remains on the 

  
 19 

Table of Contents

 
Company’s rolls during a period of authorized paid or unpaid leave of absence. 
 8.3   Vesting Determinations. The Committee’s determination concerning the extent to-which a Participant or eligible Executive is considered “vested,” and the
extent to which the Company Matching Contributions and/or Company Discretionary Contributions (and earnings thereon) deposited and credited to a Participants Vesting Account are considered Nonforfeitable shall be final and binding on all
Participants and their Beneficiaries, as described in Section 12. 
 Section 9. Designation
of Beneficiaries 
 9.1   General Rule. A Participant may designate a Beneficiary or
Beneficiaries who are to receive upon his death the payments that otherwise would have been paid to him. Subject to the requirements of Section 6.2, such Beneficiary designation may include an election concerning the form in which death
benefits are to be paid by the Plan to the Beneficiary or Beneficiaries. All designations shall be in writing and shall be effective only if and when delivered to the Committee or its designee during the lifetime of the Participant. 

9.2   Special Rule for Married Participants. Notwithstanding Section 9.1, the spouse of a married
Participant shall be deemed to be the Participant’s sole primary Beneficiary, unless the Participant designates a primary Beneficiary other than his spouse and the spouse consents to such designation in writing, on a form the Committee or its
designee shall provide, and the spouse’s signature is notarized. 
 9.3   Changing Beneficiary
Designations. Subject to Section 9.2, a Participant may from time to time during his lifetime, change his Beneficiary or Beneficiaries by a written instrument delivered to the Committee or its designee. The term “Beneficiary”
may include a trust, so long as the trust survives the Participant’s death. 
 9.4   Failure to
Designate a Beneficiary. In the event that a Participant is not survived by a Beneficiary, or if for any reason a Beneficiary designation shall be ineffective in whole or in part, the distribution that otherwise would have been paid to such
Participant shall be paid to his estate, and in such event the term “Beneficiary” shall include his estate. 
 
Section 10. Merger, Consolidation and Sale of Assets 
 10.1   Merger. In the event the
Company desires to consolidate with, merge into, or transfer all or substantially all of its assets to another entity (hereinafter referred to as a “Successor Employer”), the Company and such Successor Employer may agree that the Successor
Employer shall assume the Company’s obligations under this Plan in whole or in part. In no event shall such merger, consolidation or transfer extinguish the Company’s or the Successor Employer’s obligations to Participants and their
Beneficiaries under this Plan. 
 10.2   Acquisition by Another Employer. In the event the
Company is sold to another corporation or other party(ies) (“New Company”), the Company may agree with such New Company that the New Company shall assume the obligations under this Plan in whole or in part. In no event shall such sale
extinguish the Company’s or New Company’s obligations to Participants and their Beneficiaries under this Plan. 

  
 20 

Table of Contents

 Section 11. Rights of Participants 

Notwithstanding the depositing and crediting of amounts to the Deferral Account and/or Vesting Account maintained by the Trustee on
behalf at a Participant, the right of the Participant, or his Beneficiary, to receive a distribution under this Plan shall be an unsecured claim against the general assets of the Company. Participants and Beneficiaries shall have the status of
general unsecured creditors of the Company. This Plan constitutes a mere promise by the Company to make benefit payments in the future. 
 The Deferral Account or Vesting Account maintained by the Trustee on behalf of a Participant may not in any way be encumbered or assigned by a Participant or his Beneficiary. 

Nothing in this Plan shall give any Participant the right to be retained as an Executive or an employee of the Company, affect the right
of the Company to remove any Executive or employee, or give any Executive or employee (or his Beneficiary) the right to receive a particular amount of Compensation, Bonus Compensation or Company Discretionary Contribution from the Company.

 Section 12. Administration 

12.1   Administrative Committee. The Committee shall administer the Plan. The Committee may appoint an
administrative committee (the “Administrative Committee”) to assist it in the administration of the Plan. The Administrative Committee may act on behalf of the Committee with respect to all matters concerning the Plan, except for those
matters the Committee specifically reserves, in this Plan or otherwise, for its own action. The initial members of the Administrative Committee shall be Troy D. Cook and James K. Schwartz. The Board or the Committee may remove, replace, or
appoint members of the Administrative Committee at any time. 
 12.2   Powers of Administrative
Committee. The Committee shall have the power to interpret the Plan and to determine all questions that arise under it. Such power includes, for example, the discretionary authority necessary to determine eligibility for benefits and to
construe the terms of the Plan. All payments of benefits under the Plan shall be made by the Company or by the Trustee in accordance with the terms of this Plan and the agreement and declaration establishing the Trust. The decision of the
compensation committee upon all matters within the scope of its authority shall be final and binding on all parties, shall be subject to the most deferential standard on review, and shall not be affected by any actual or alleged conflict of
interest. No member of the Committee or the Administrative Committee may act, in his capacity as a member of the Committee or Administrative Committee, with respect to a matter concerning his eligibility or benefits under the Plan. 

Section 13. Claims and Appeals 

13.1   Claims for Benefits; Initial Processing. Claims for benefits under the Plan normally will be
approved or denied by the Committee within 90 calendar days after they are received by the Committee or its designee. If an extension of time is required to process the claim, the extension will not exceed 90 calendar days, and the claimant shall be
provided notice 

  
 21 

Table of Contents

 
of any extension. The notice shall explain the reason for the extension and when a decision will be made. Claims not resolved prior to the end of the extension may be deemed denied. 

13.2   Claim Denial. If a claim for benefits is denied (or deemed denied), the Committee or its designee
shall provide the claimant with written notice reflecting the reasons for the denial, with a specific reference to the Plan provisions upon which the decision was based. The notice shall also reflect any additional information that may be necessary
for the claimant’s claim to be approved. 
 13.3   Appealing a Denied Claim. A claimant may
appeal the denial of a claim by writing the Committee and stating that he wishes to appeal. In order to be considered, the appeal must be received by the Committee or its designee no more than 90 calendar days after notice of the denial is provided
(or, if no notice is provided, then after the earliest date on which the claimant is entitled to deem the claim denied). 

13.4   Processing Appeals. If a claimant appeals a denial of a claim, the Board shall review the claim and
any additional information furnished by the claimant. The Board shall decide the appeal within 60 calendar days after it is received, but in unusual circumstances may delay resolution of the appeal for an additional 60 calendar days. The claimant
shall be notified of any delay within 60 calendar days after the appeal is received by the Committee or its designee. After the appeal is decided, the Board shall notify the claimant in writing of its decision, and explain how the appeal was decided
and what Plan provisions were relied upon. 
 Section 14. Amendments and Termination

 14.1   Amendment. The Company in its absolute discretion, without notice, may at any time
and from time to time, modify or amend, in whole or in part, any or all of the provisions of the Plan. No such modification or amendment may, without the consent of a Participant (or his Beneficiary in the case of his death) reduce the right of a
Participant (or his Beneficiary, as the case may be) to the payment of any amount deposited and credited to his Deferral Account and any Nonforfeitable amount deposited and credited to his Vesting Account under the Plan as of the date of such
modification or amendment. Any modification or amendment of the vesting schedule described in Section 8.2 shall not apply to any amounts deposited and credited to a Participant’s Vesting Account as of the date of such modification or
amendment, unless the Participant otherwise consents in writing. 
 14.2   Suspension and
Termination. The Company in its absolute discretion, without notice, at any time may suspend or terminate the Plan. In addition, the Committee may suspend or terminate an active Participant’s further participation in the Plan at any
time. Other than earnings on a Participant’s Deferral Account or Vesting Account credited under Section 7, no additional Compensation or Bonus Compensation may be deferred, and no additional Company Matching Contributions or Company
Discretionary Contributions shall be deposited or credited to the Deferral Account and/or Vesting Account of any Participant following suspension or termination of the Plan, or to such Accounts of an inactive Participant following termination of his
or her participation in the Plan. Upon termination of a Participant’s participation in the Plan, distribution of a Participant’s Plan benefit shall be made in the manner and at the time described under the Plan’s normal provisions.

  
 22 

Table of Contents

 Upon suspension of the Plan, distribution of a Participant’s Plan benefit shall be made
in the manner and at the time described under the Plan’s provisions, and the Trust shall not terminate until all monies on deposit thereunder are either paid to Participants and their Beneficiaries, or returned to the Employer, as provided for
under the agreement and declaration establishing the Trust. Upon suspension of the Plan, a Participant whose Vesting Account balance includes amounts that are not Nonforfeitable under Section 8 hereof, shall continue to be credited with vesting
service, for purposes of Section 8, for and on account of his service with the Company after suspension of the Plan. 
 In the event the Company elects to terminate the Plan, all forfeitable amounts then on deposit with and credited to Participants’ Vesting Accounts shall be deemed Nonforfeitable and, notwithstanding
anything herein to the contrary, all Plan benefits shall be paid in a lump sum not later than the 15th day of the third calendar month after the close of each calendar year in which termination of the Plan occurred. The Company represents and warrants that in the event the Company elects to terminate the
Plan, the Company shall comply with applicable requirements under Code Section 409A and regulations issued thereunder with respect to termination of the Plan. 
 Section 15. Applicable Laws 
 The Plan shall
be construed, administered, and governed in all respects under and by the laws of the State of Kansas, to the extent federal law does not apply. 
 Section 16. 409A Compliance 
 In the event
that any provision of this Plan shall be determined to contravene Code Section 409A, the regulations promulgated thereunder, regulatory interpretations or announcements with respect to Section 409A, any such provision shall be void and
have no effect and may be amended by the Company without the consent of the Participant, for the purpose of Section 409A compliance. Moreover, this Plan shall be interpreted at all times in such a manner that the terms and provisions of the
Plan comply with Code Section 409A, the regulations promulgated thereunder, and regulatory interpretations or announcements with respect to Section 409A. The Company shall have the authority to void any Participant election hereunder if
necessary to maintain the Plan in compliance with Code Section 409A. 
 Section 17.
Incompetency 
 Every person receiving or claiming payments under this Plan shall be conclusively presumed to be mentally
competent until the date on which the Committee or its designee receives written notice, in a form and manner acceptable to the Committee, that such person is incompetent and that a guardian, conservator, or other person, legally vested with the
care of his estate has been appointed. In the event a guardian or conservator or the estate of any person receiving or claiming payments under this Plan shall be appointed by a court of competent jurisdiction, benefit payments may be made to such
guardian or conservator, provided that proper proof of appointment and continuing qualification are furnished in a form and manner acceptable to the Committee or its designee. Any such payment so made shall be a complete discharge of any liability
therefor. 

  
 23 

Table of Contents

 Section 18. Expenses 

Costs of administration of the Plan and all taxes imposed on the Plan or Trust shall be paid by the Company. Participants’ Deferral
Accounts or Vesting Accounts shall not be reduced for these amounts. Notwithstanding the foregoing, Participants’ Deferral Accounts and Vesting Accounts shall bear the expense of any and all transaction costs and fees associated with the
investment of their Accounts and any per capita Trustee’s fee. The aggregate total of any Trustee’s fees based on the aggregate value of assets in the Trust (both the Group Trust and Individual Trusts) may be apportioned among the Accounts
of Participants on a pro rata (in the proportion that a Participant’s Account balances bear to the Account balances of other Participants) or per capita basis, in the discretion of the Committee. 

Section 19. Notices 
 Any notice or election required or permitted to be given hereunder shall be in writing. Participant elections shall be in the form prescribed by the Committee, and shall be deemed to be filed with the
Committee: 
  

	 	(a)	On the date it is personally delivered to the Committee (or its designee), or 

 

	 	(b)	Five business days after it is sent by registered or certified mail, addressed to the Committee (or its designee) at the Company’s address.

 Section 20. Withholding and Deductions 

All payments made under the Plan by the Company or the Trustee to any Participant or Beneficiary, shall be subject to applicable
withholding and to such other deductions that are required by applicable law, and to the delivery to the Committee (or its designee) or the Trustee of any documents, applications or other information deemed necessary by the Committee or the Trustee,
in their sole-discretion, as a condition precedent to payment. 
 Section 21. Invalidity of
Provisions 
 If any provision of the Plan is held or found to be invalid or unenforceable, such invalidity or
unenforceability shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provision had not been included. Similarly, in the event any provision of the Plan is held or found to be ineffective or
unenforceable with respect to allowing for the deferral of income taxation as intended by the Plan, such provision shall be severed from the provisions of the Plan that are so effective or enforceable, and such latter provisions shall be considered
to constitute a separate arrangement. 
 Section 22. Tax Advantages Not Guaranteed

 Neither the Company, the Committee, the Administrative Committee, nor any other person guarantees that any particular
Participant or Beneficiary will achieve the tax advantages contemplated by this Plan, and neither the Company, the Committee, the Administrative Committee or any other person indemnifies or holds harmless a Participant or Beneficiary with respect to
liability, whether or not unintended or unforeseen, for income taxes, excise taxes, 

  
 24 

Table of Contents

 
interest and/or penalties, or any other liability, arising from or incurred in connection with this Plan. 
 In the event any benefits payable hereunder to a Participant or Beneficiary are subjected to taxation prior to the date such benefits are payable under the terms of the Plan, the payment of such benefits
shall be accelerated so that, to the extent practicable, the Participant or Beneficiary receives such benefits in the taxable year in which such amounts are subjected to taxation. 

Section 23. Return of Company Contributions 

Nothing in this Plan nor the agreement and declaration establishing the Trust shall be construed to prevent the return to the Company of
amounts contributed to the Trust by the Company due to a mistake of fact or law, including (but not limited to) erroneous calculations or erroneous determinations of eligibility. 

IN WITNESS WHEREOF, the Company hereby adopts this amendment and restatement of the NPC International, Inc. Deferred Compensation and
Retirement Plan this          day of                     , 2011. 

 

			
	NPC INTERNATIONAL, INC.
		
	By:	 	 
		
	Title:	 	 

  

	
	ATTEST:
	
	  

  

  
 252010 Employee Stock Purchase Plan, as amended

 Exhibit 10.8 
 MAXLINEAR, INC. 
 2010 EMPLOYEE STOCK PURCHASE PLAN 

As amended February 4, 2011 
 1. Purpose. The purpose of the Plan is to provide employees of the Company and its Designated Subsidiaries with an opportunity to purchase Common Stock through accumulated payroll deductions. The
Company’s intention is to have the Plan qualify as an “employee stock purchase plan” under Section 423 of the Code. The provisions of the Plan, accordingly, will be construed so as to extend and limit Plan participation in a
uniform and nondiscriminatory basis consistent with the requirements of Section 423 of the Code. 
 2. Definitions.

 (a) “Administrator” means the Board or any Committee designated by the Board to administer the Plan pursuant
to Section 14. 
 (b) “Applicable Laws” means the requirements relating to the administration of
equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or
jurisdiction where Awards are, or will be, granted under the Plan. 
 (c) “Board” means the Board of Directors
of the Company. 
 (d) “Change in Control” means the occurrence of any of the following events: 

(i) A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group
(“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company; provided, however, that for purposes of this
subsection, the acquisition of additional stock by any one Person, who is considered to own more than 50% of the total voting power of the stock of the Company will not be considered a Change in Control; or 

(ii) A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced
during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause, if any Person is considered
to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 
 (iii) A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on
the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 50% of the total 

 
gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection, the following will not
constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by
the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, 50% or more of the total value or voting power of which is owned, directly
or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity, at least 50% of the total value or voting power
of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection, gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of,
determined without regard to any liabilities associated with such assets. 
 For purposes of this definition, persons will be
considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 

(e) “Code” means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will be a
reference to any successor or amended section of the Code. 
 (f) “Committee” means a committee of the Board
appointed in accordance with Section 14 hereof. 
 (g) “Common Stock” means the Class A common stock
of the Company. 
 (h) “Company” means MaxLinear, Inc., a Delaware corporation. 

(i) “Compensation” means an Employee’s base straight time gross earnings, commissions (to the extent such
commissions are an integral, recurring part of compensation), overtime and shift premium, but exclusive of payments for incentive compensation, bonuses and other compensation. 
 (j) “Designated Subsidiary” means any Subsidiary that has been designated by the Administrator from time to time in its sole discretion as eligible to participate in the Plan. 

(k) “Director” means a member of the Board. 
 (l) “Eligible Employee” means any individual who is a common law employee of an Employer and is customarily employed for at least twenty (20) hours per week and more than
five (5) months in any calendar year by the Employer. For purposes of the Plan, the employment relationship will be treated as continuing intact while the individual is on sick leave or other leave of absence that the Employer approves. Where
the period of leave exceeds three (3) months and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship will be deemed to have terminated three (3) months and one
(1) day following the commencement of such leave. The Administrator, in its discretion, from time to time may, prior to an Offering Date for all options to be granted on such Offering Date, determine (on a uniform and

  
 -2-

 
nondiscriminatory basis) that the definition of Eligible Employee will or will not include an individual if he or she: (i) has not completed at least two (2) years of service since his
or her last hire date (or such lesser period of time as may be determined by the Administrator in its discretion), (ii) customarily works not more than twenty (20) hours per week (or such lesser period of time as may be determined by the
Administrator in its discretion), (iii) customarily works not more than five (5) months per calendar year (or such lesser period of time as may be determined by the Administrator in its discretion), (iv) is an executive, officer or
other manager, or (v) is a highly compensated employee under Section 414(q) of the Code. 
 (m)
“Employer” means any one or all of the Company and its Designated Subsidiaries. 
 (n) “Exchange
Act” means the Securities Exchange Act of 1934, as amended, including the rules and regulations promulgated thereunder. 
 (o) “Exercise Date” means the first Trading Day on or after May 15 and November 15 of each year. The first Exercise Date under the Plan will be November 15, 2010.

 (p) “Fair Market Value” means, as of any date and unless the Administrator determines otherwise, the value
of Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or a national
market system, including without limitation the New York Stock Exchange, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for
such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market
Value will be the mean of the closing bid and asked prices for the Common Stock on the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(iii) In the absence of an established market for the Common Stock, the Fair Market Value thereof will be determined in good faith by
the Administrator; or 
 (iv) For purposes of the Offering Date of the first Offering Period under the Plan, the Fair Market
Value will be the initial price to the public as set forth in the final prospectus included within the registration statement on Form S-1 filed with the Securities and Exchange Commission for the initial public offering of the Common Stock (the
“Registration Statement”). 
 (q) “Fiscal Year” means the fiscal year of the Company.

 (r) “New Exercise Date” means a new Exercise Date set by shortening any Offering Period then in progress.

 (s) “Offering Date” means the first Trading Day of each Offering Period. 

  
 -3-

 (t) “Offering Periods” means: 

(i) For the first Offering Period under the Plan, the period of approximately twenty-seven (27) months during which an option
granted pursuant to the Plan may be exercised, commencing on the first Trading Day on or after the date on which the Securities and Exchange Commission declares the Company’s Registration Statement effective and, subject to
Section 25, terminating on the first Trading Day on or following May 15, 2012; and 
 (ii) For the second and all
subsequent Offering Periods under the Plan, the periods of approximately six (6) months during which an option granted pursuant to the Plan may be exercised, (i) commencing on the first Trading Day on or after May 15 of each year and
terminating on the first Trading Day on or following November 15, approximately six (6) months later, and (ii) commencing on the first Trading Day on or after November 15 of each year and terminating on the first Trading Day on
or following May 15, approximately six (6) months later; provided, however, that the second Offering Period under the Plan will commence on the first Trading Day on or after November 15, 2010 and will end on the first Trading Day on
or after May 15, 2011. 
 The duration and timing of Offering Periods may be changed pursuant to Sections 4 and 20.

 (u) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code. 
 (v) “Plan” means this MaxLinear, Inc. 2010 Employee Stock Purchase Plan.

 (w) “Purchase Period” means the period during an Offering Period in which shares of Common Stock may be
purchased on a participant’s behalf in accordance with the terms of the Plan. For the first Offering Period, unless the Administrator provides otherwise, the first Purchase Period will mean the period commencing on the Offering Date and ending
with the first Exercise Date and all subsequent Purchase Periods during the first Offering Period will mean the approximately six (6) month period commencing on one Exercise Date and ending with the next Exercise Date. For the second and all
subsequent Offering Periods, unless the Administrator provides otherwise, the Purchase Period will have the same duration and coincide with the length of the Offering Period. 
 (x) “Purchase Price” means an amount equal to eighty-five percent (85%) of the Fair Market Value of a share of Common Stock on the Offering Date or on the Exercise Date, whichever is
lower; provided however, that the Purchase Price may be adjusted for subsequent Offering Periods by the Administrator subject to compliance with Section 423 of the Code (or any successor rule or provision or any other applicable law, regulation
or stock exchange rule) or pursuant to Section 20. 
 (y) “Subsidiary” means a “subsidiary
corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code. 
 (z) “Trading
Day” means a day on which the national stock exchange upon which the Common Stock is listed is open for trading. 

  
 -4-

 3. Eligibility. 

(a) First Offering Period. Any individual who is an Eligible Employee immediately prior to the first Offering Period will be
automatically enrolled in the first Offering Period. 
 (b) Subsequent Offering Periods. Any Eligible Employee on a given
Offering Date subsequent to the first Offering Period will be eligible to participate in the Plan, subject to the requirements of Section 5. 
 (c) Limitations. Any provisions of the Plan to the contrary notwithstanding, no Eligible Employee will be granted an option under the Plan (i) to the extent that, immediately after the grant,
such Eligible Employee (or any other person whose stock would be attributed to such Eligible Employee pursuant to Section 424(d) of the Code) would own capital stock of the Company or any Parent or Subsidiary of the Company and/or hold
outstanding options to purchase such stock possessing five percent (5%) or more of the total combined voting power or value of all classes of the capital stock of the Company or of any Parent or Subsidiary of the Company, or (ii) to the
extent that his or her rights to purchase stock under all employee stock purchase plans (as defined in Section 423 of the Code) of the Company or any Parent or Subsidiary of the Company accrues at a rate which exceeds twenty-five thousand
dollars ($25,000) worth of stock (determined at the Fair Market Value of the stock at the time such option is granted) for each calendar year in which such option is outstanding at any time. 

4. Offering Periods. The first Offering Period under the Plan will commence with the first Trading Day on or after the date upon
which the Company’s Registration Statement is declared effective by the Securities and Exchange Commission and end on the first Trading Day after May 15, 2012. Subsequent to the commencement of the first Offering Period, the Plan will be
implemented by consecutive Offering Periods that overlap the first Offering Period while such Offering Period is in effect with a new Offering Period commencing on the first Trading Day on or after May 15 and November 15 each year, or on
such other date as the Administrator will determine; provided, however, that the second Offering Period under the Plan will commence on the first Trading Day on or after November 15, 2010. The Administrator will have the power to change the
duration of Offering Periods (including the commencement dates thereof) with respect to future offerings without stockholder approval if such change is announced prior to the scheduled beginning of the first Offering Period to be affected
thereafter. 
 5. Participation. 
 (a) First Offering Period. An Eligible Employee will be entitled to continue to participate in the first Offering Period pursuant to Section 3(a) only if such individual submits a subscription
agreement authorizing payroll deductions in a form determined by the Administrator (which may be similar to the form attached hereto as Exhibit A) to the Company’s designated plan administrator (i) no earlier than the effective
date of the Form S-8 registration statement with respect to the issuance of Common Stock under this Plan and (ii) no later than ten (10) business days following the effective date of such S-8 registration statement or such other
period of time as the Administrator may determine (the “Enrollment Window”). An Eligible Employee’s failure to 

  
 -5-

 
submit the subscription agreement during the Enrollment Window will result in the automatic termination of such individual’s participation in the first Offering Period. 

(b) Subsequent Offering Periods. An Eligible Employee may participate in the Plan pursuant to Section 3(b) by
(i) submitting to the Company’s payroll office (or its designee), on or before a date prescribed by the Administrator prior to an applicable Offering Date, a properly completed subscription agreement authorizing payroll deductions in the
form provided by the Administrator for such purpose, or (ii) following an electronic or other enrollment procedure prescribed by the Administrator. 
 6. Payroll Deductions. 
 (a) At the time a participant enrolls in the Plan
pursuant to Section 5, he or she will elect to have payroll deductions made on each pay day during the Offering Period in an amount not exceeding fifteen percent (15%) of the Compensation which he or she receives on each pay day during the
Offering Period; provided, however, that should a pay day occur on an Exercise Date, a participant will have the payroll deductions made on such day applied to his or her account under the subsequent Purchase Period or Offering Period. A
participant’s subscription agreement will remain in effect for successive Offering Periods unless terminated as provided in Section 10 hereof. 
 (b) Payroll deductions for a participant will commence on the first pay day following the Offering Date and will end on the last pay day prior to the Exercise Date of such Offering Period to which such
authorization is applicable, unless sooner terminated by the participant as provided in Section 10 hereof; provided, however, that for the first Offering Period, payroll deductions will commence on the first pay day on or following the end of
the Enrollment Window. 
 (c) All payroll deductions made for a participant will be credited to his or her account under the
Plan and will be withheld in whole percentages only. A participant may not make any additional payments into such account. 

(d) A participant may discontinue his or her participation in the Plan as provided in Section 10, or may increase or decrease the
rate of his or her payroll deductions during the Offering Period by (i) properly completing and submitting to the Company’s payroll office (or its designee), on or before a date prescribed by the Administrator prior to an applicable
Exercise Date, a new subscription agreement authorizing the change in payroll deduction rate in the form provided by the Administrator for such purpose, or (ii) following an electronic or other procedure prescribed by the Administrator;
provided, however, that a participant may only make one payroll deduction change during each Purchase Period. If a participant has not followed such procedures to change the rate of payroll deductions, the rate of his or her payroll deductions will
continue at the originally elected rate throughout the Offering Period and future Offering Periods (unless terminated as provided in Section 10). The Administrator may, in its sole discretion, limit the nature and/or number of payroll deduction
rate changes that may be made by participants during any Offering Period. Any change in payroll deduction rate made pursuant to this Section 6(d) will be effective as of the first full payroll period following five (5) business days after
the date on which the change is made by the participant (unless the Administrator, in its sole discretion, elects to process a given change in payroll deduction rate more quickly). 

  
 -6-

 (e) Notwithstanding the foregoing, to the extent necessary to comply with
Section 423(b)(8) of the Code and Section 3(c), a participant’s payroll deductions may be decreased to zero percent (0%) at any time during a Purchase Period. Subject to Section 423(b)(8) of the Code and
Section 3(c) hereof, payroll deductions will recommence at the rate originally elected by the participant effective as of the beginning of the first Purchase Period which is scheduled to end in the following calendar year,
unless terminated by the participant as provided in Section 10. 
 (f) At the time the option is exercised, in whole
or in part, or at the time some or all of the Common Stock issued under the Plan is disposed of, the participant must make adequate provision for the Company’s or Employer’s federal, state, or any other tax liability payable to any
authority, national insurance, social security or other tax withholding obligations, if any, which arise upon the exercise of the option or the disposition of the Common Stock. At any time, the Company or the Employer may, but will not be obligated
to, withhold from the participant’s compensation the amount necessary for the Company or the Employer to meet applicable withholding obligations, including any withholding required to make available to the Company or the Employer any tax
deductions or benefits attributable to sale or early disposition of Common Stock by the Eligible Employee. 
 7. Grant of
Option. On the Offering Date of each Offering Period, each Eligible Employee participating in such Offering Period will be granted an option to purchase on each Exercise Date during such Offering Period (at the applicable Purchase Price) up to a
number of shares of Common Stock determined by dividing such Eligible Employee’s payroll deductions accumulated prior to such Exercise Date and retained in the Eligible Employee’s account as of the Exercise Date by the applicable Purchase
Price; provided that in no event will an Eligible Employee be permitted to purchase during each Purchase Period that occurs during each Offering Period in which an Eligible Employee participates more than 1,800 shares of the Common Stock (subject to
any adjustment pursuant to Section 19), and provided further that such purchase will be subject to the limitations set forth in Sections 3(c) and 13. The Eligible Employee may accept the grant of such option with respect to the first
Offering Period by submitting a properly completed subscription agreement in accordance with the requirements of Section 5(a) on or before the last day of the Enrollment Window, and (ii) with respect to any future Offering Period under the
Plan, by electing to participate in the Plan in accordance with the requirements of Section 5(b). The Administrator may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock
that an Eligible Employee may purchase during each Purchase Period of an Offering Period. Exercise of the option will occur as provided in Section 8, unless the participant has withdrawn pursuant to Section 10. The option will expire on
the last day of the Offering Period. 
 8. Exercise of Option. 

(a) Unless a participant withdraws from the Plan as provided in Section 10, his or her option for the purchase of shares of Common
Stock will be exercised automatically on the Exercise Date, and the maximum number of full shares subject to the option will be purchased for such participant at the applicable Purchase Price with the accumulated payroll deductions in his or her
account. No fractional shares of Common Stock will be purchased; any payroll deductions accumulated in a participant’s account which are not sufficient to purchase a full share will be retained in the participant’s account for the
subsequent Purchase Period or Offering Period, subject 

  
 -7-

 
to earlier withdrawal by the participant as provided in Section 10. Any other funds left over in a participant’s account after the Exercise Date will be returned to the participant.
During a participant’s lifetime, a participant’s option to purchase shares hereunder is exercisable only by him or her. 
 (b) If the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of
Common Stock that were available for sale under the Plan on the Offering Date of the applicable Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator may in its
sole discretion provide that the Company will make a pro rata allocation of the shares of Common Stock available for purchase on such Offering Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will
determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on such Exercise Date, and continue all Offering Periods then in effect or terminate all Offering Periods then in effect pursuant to
Section 20. The Company may make a pro rata allocation of the shares available on the Offering Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under
the Plan by the Company’s stockholders subsequent to such Offering Date. 
 9. Delivery. As soon as reasonably
practicable after each Exercise Date on which a purchase of shares of Common Stock occurs, the Company will arrange the delivery to each participant of the shares purchased upon exercise of his or her option in a form determined by the Administrator
(in its sole discretion) and pursuant to rules established by the Administrator. The Company may permit or require that shares be deposited directly with a broker designated by the Company or to a designated agent of the Company, and the Company may
utilize electronic or automated methods of share transfer. The Company may require that shares be retained with such broker or agent for a designated period of time and/or may establish other procedures to permit tracking of disqualifying
dispositions of such shares. No participant will have any voting, dividend, or other stockholder rights with respect to shares of Common Stock subject to any option granted under the Plan until such shares have been purchased and delivered to the
participant as provided in this Section 9. 
 10. Withdrawal. 

(a) A participant may withdraw all but not less than all the payroll deductions credited to his or her account and not yet used to
exercise his or her option under the Plan at any time prior to the end of the Offering Period by (i) submitting to the Company’s payroll office (or its designee) a written notice of withdrawal in the form prescribed by the Administrator
for such purpose (which may be similar to the form attached hereto as Exhibit B), or (ii) following an electronic or other withdrawal procedure prescribed by the Administrator. All of the participant’s payroll deductions
credited to his or her account will be paid to such participant promptly after receipt of notice of withdrawal and such participant’s option for the Offering Period will be automatically terminated, and no further payroll deductions for the
purchase of shares will be made for such Offering Period. If a participant withdraws from an Offering Period, payroll deductions will not resume at the beginning of the succeeding Offering Period, unless the participant re-enrolls in the Plan in
accordance with the provisions of Section 5. 

  
 -8-

 (b) A participant’s withdrawal from an Offering Period will not have any effect upon
his or her eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the participant withdraws. 

11. Termination of Employment. Upon a participant’s ceasing to be an Eligible Employee, for any reason, he or she will be
deemed to have elected to withdraw from the Plan and the payroll deductions credited to such participant’s account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such
participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, and such participant’s option will be automatically terminated. 

12. Interest. No interest will accrue on the payroll deductions of a participant in the Plan. 

13. Stock. 
 (a) Subject to adjustment upon changes in capitalization of the Company as provided in Section 19 hereof, the maximum number of shares of Common Stock which will be made available for sale under the
Plan will be six hundred forty-five thousand eight hundred twenty-seven (645,827) shares (as adjusted to reflect the reverse stock split expected to occur on March 5, 2010), plus an annual increase to be added on the first day of each
Fiscal Year beginning with the 2011 Fiscal Year, equal to the least of (i) nine hundred sixty-eight thousand seven hundred forty-one (968,741) shares of Common Stock (as adjusted to reflect the reverse stock split expected to occur on
March 5, 2010), (ii) one and a quarter percent (1.25%) of the outstanding shares of the Company’s Class A common stock and Class B common stock on such date, or (iii) an amount determined by the Administrator.

 (b) Until the shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), a participant will only have the rights of an unsecured creditor with respect to such shares, and no right to vote or receive dividends or any other rights as a stockholder will exist with respect to such shares.

 (c) Shares of Common Stock to be delivered to a participant under the Plan will be registered in the name of the participant
or in the name of the participant and his or her spouse. 
 14. Administration. The Plan will be administered by the
Board or a Committee appointed by the Board, which Committee will be constituted to comply with Applicable Laws. The Administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to
determine eligibility and to adjudicate all disputed claims filed under the Plan. Every finding, decision and determination made by the Administrator will, to the full extent permitted by law, be final and binding upon all parties. Notwithstanding
any provision to the contrary in this Plan, the Administrator may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures for jurisdictions outside of
the United States. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding eligibility to participate, the definition of Compensation, handling of payroll deductions,
making of contributions to the Plan (including, without limitation, in forms other than payroll deductions), establishment of 

  
 -9-

 
bank or trust accounts to hold payroll deductions, payment of interest, conversion of local currency, obligations to pay payroll tax, determination of beneficiary designation requirements,
withholding procedures and handling of stock certificates which vary with local requirements. 
 15. Designation of
Beneficiary. 
 (a) A participant may file a designation of a beneficiary who is to receive any shares of Common Stock and
cash, if any, from the participant’s account under the Plan in the event of such participant’s death subsequent to an Exercise Date on which the option is exercised but prior to delivery to such participant of such shares and cash. In
addition, a participant may file a designation of a beneficiary who is to receive any cash from the participant’s account under the Plan in the event of such participant’s death prior to exercise of the option. If a participant is married
and the designated beneficiary is not the spouse, spousal consent will be required for such designation to be effective. 
 (b)
Such designation of beneficiary may be changed by the participant at any time by notice in a form determined by the Administrator. In the event of the death of a participant and in the absence of a beneficiary validly designated under the Plan who
is living at the time of such participant’s death, the Company will deliver such shares and/or cash to the executor or administrator of the estate of the participant, or if no such executor or administrator has been appointed (to the knowledge
of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one or more dependents or relatives of the participant, or if no spouse, dependent or relative is known to the Company, then to such other
person as the Company may designate. 
 (c) All beneficiary designations will be in such form and manner as the Administrator
may designate from time to time. 
 16. Transferability. Neither payroll deductions credited to a participant’s
account nor any rights with regard to the exercise of an option or to receive shares of Common Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution
or as provided in Section 15 hereof) by the participant. Any such attempt at assignment, transfer, pledge or other disposition will be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering
Period in accordance with Section 10 hereof. 
 17. Use of Funds. The Company may use all payroll deductions
received or held by it under the Plan for any corporate purpose, and the Company will not be obligated to segregate such payroll deductions. Until shares of Common Stock are issued, participants will only have the rights of an unsecured creditor
with respect to such shares. 
 18. Reports. Individual accounts will be maintained for each participant in the Plan.
Statements of account will be given to participating Eligible Employees at least annually, which statements will set forth the amounts of payroll deductions, the Purchase Price, the number of shares of Common Stock purchased and the remaining cash
balance, if any. 
 19. Adjustments, Dissolution, Liquidation, Merger or Change in Control. 

  
 -10-

 (a) Adjustments. In the event that any dividend or other distribution (whether in the
form of cash, Common Stock, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Common Stock or other securities
of the Company, or other change in the corporate structure of the Company affecting the Common Stock occurs, the Administrator, in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the
Plan, will, in such manner as it may deem equitable, adjust the number and class of Common Stock which may be delivered under the Plan, the Purchase Price per share and the number of shares of Common Stock covered by each option under the Plan which
has not yet been exercised, and the numerical limits of Sections 7 and 13. 
 (b) Dissolution or Liquidation.
In the event of the proposed dissolution or liquidation of the Company, any Offering Period then in progress will be shortened by setting a New Exercise Date, and will terminate immediately prior to the consummation of such proposed dissolution or
liquidation, unless provided otherwise by the Administrator. The New Exercise Date will be before the date of the Company’s proposed dissolution or liquidation. The Administrator will notify each participant in writing, at least ten (10)
business days prior to the New Exercise Date, that the Exercise Date for the participant’s option has been changed to the New Exercise Date and that the participant’s option will be exercised automatically on the New Exercise Date, unless
prior to such date the participant has withdrawn from the Offering Period as provided in Section 10 hereof. 
 (c)
Merger or Change in Control. In the event of a merger or Change in Control, each outstanding option will be assumed or an equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In
the event that the successor corporation refuses to assume or substitute for the option, the Offering Period with respect to which such option relates will be shortened by setting a New Exercise Date and will end on the New Exercise Date. The New
Exercise Date will occur before the date of the Company’s proposed merger or Change in Control. The Administrator will notify each participant in writing prior to the New Exercise Date, that the Exercise Date for the participant’s option
has been changed to the New Exercise Date and that the participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the participant has withdrawn from the Offering Period as provided in
Section 10 hereof. 
 20. Amendment or Termination. 

(a) The Administrator, in its sole discretion, may amend, suspend, or terminate the Plan, or any part thereof, at any time and for any
reason. If the Plan is terminated, the Administrator, in its discretion, may elect to terminate all outstanding Offering Periods either immediately or upon completion of the purchase of shares of Common Stock on the next Exercise Date (which may be
sooner than originally scheduled, if determined by the Administrator in its discretion), or may elect to permit Offering Periods to expire in accordance with their terms (and subject to any adjustment pursuant to Section 19). If the Offering
Periods are terminated prior to expiration, all amounts then credited to participants’ accounts which have not been used to purchase shares of Common Stock will be returned to the participants (without interest thereon, except as otherwise
required under local laws) as soon as administratively practicable. 

  
 -11-

 (b) Without stockholder consent and without limiting Section 20(a), the Administrator
will be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit
payroll withholding in excess of the amount designated by a participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and adjustment periods
and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each participant properly correspond with amounts withheld from the participant’s Compensation, and establish such other
limitations or procedures as the Administrator determines in its sole discretion advisable which are consistent with the Plan. 

(c) In the event the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting
consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify, amend or terminate the Plan to reduce or eliminate such accounting consequence including, but not limited to: 

(i) amending the Plan to conform with the safe harbor definition under Statement of Financial Accounting Standards 123(R),
including with respect to an Offering Period underway at the time; 
 (ii) altering the Purchase Price for any Offering Period
including an Offering Period underway at the time of the change in Purchase Price; 
 (iii) shortening any Offering Period by
setting a New Exercise Date, including an Offering Period underway at the time of the Administrator action; 
 (iv) reducing
the maximum percentage of Compensation a participant may elect to set aside as payroll deductions; and 
 (v) reducing the
maximum number of Shares a participant may purchase during any Offering Period or Purchase Period. 
 Such modifications or
amendments will not require stockholder approval or the consent of any Plan participants. 
 21. Notices. All notices or
other communications by a participant to the Company under or in connection with the Plan will be deemed to have been duly given when received in the form and manner specified by the Company at the location, or by the person, designated by the
Company for the receipt thereof. 
 22. Conditions Upon Issuance of Shares. Shares of Common Stock will not be issued
with respect to an option unless the exercise of such option and the issuance and delivery of such shares pursuant thereto will comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of
1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, and the requirements of any stock exchange upon which the shares may then be listed, and will be further subject to the approval of counsel for the Company with
respect to such compliance. 

  
 -12-

 As a condition to the exercise of an option, the Company may require the person exercising
such option to represent and warrant at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a
representation is required by any of the aforementioned applicable provisions of law. 
 23. Term of Plan. The Plan will
become effective upon the earlier to occur of its adoption by the Board or its approval by the stockholders of the Company. It will continue in effect for a term of ten (10) years, unless sooner terminated under Section 20. 

24. Stockholder Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months
after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 
 25. Automatic Transfer from First Offering Period to Low Price Offering Period. To the extent permitted by Applicable Laws, if the Fair Market Value of the Common Stock on any Exercise Date during
the first Offering Period is lower than the Fair Market Value of the Common Stock on the Offering Date of such Offering Period, then all participants in such Offering Period will be automatically withdrawn from such Offering Period immediately after
the exercise of their option on such Exercise Date and automatically re-enrolled in the immediately following Offering Period and the first Offering Period will terminate. 

  
 -13-

 EXHIBIT A 

MAXLINEAR, INC. 
 2010 EMPLOYEE STOCK PURCHASE PLAN 
 SUBSCRIPTION AGREEMENT

  

			
	         Original Application	  	Offering Date:
                        
	         Change in Payroll Deduction Rate	  	
	         Change of Beneficiary(ies)	  	

 1.
                     hereby elects to participate in the MaxLinear, Inc. 2010 Employee Stock Purchase Plan (the “Plan”) and
subscribes to purchase shares of the Company’s Common Stock in accordance with this Subscription Agreement and the Plan. 

2. I hereby authorize payroll deductions from each paycheck in the amount of      % of my Compensation on each
payday (from 0 to 15%) during the Offering Period in accordance with the Plan. (Please note that no fractional percentages are permitted.) 
 3. I understand that said payroll deductions will be accumulated for the purchase of shares of Common Stock at the applicable Purchase Price determined in accordance with the Plan. I understand that if I
do not withdraw from an Offering Period, any accumulated payroll deductions will be used to automatically exercise my option and purchase Common Stock under the Plan. 
 4. I have received a copy of the complete Plan and its accompanying prospectus. I understand that my participation in the Plan is in all respects subject to the terms of the Plan. 

5. Shares of Common Stock purchased for me under the Plan should be issued in the name(s) of
                     (Eligible Employee or Eligible Employee and Spouse only). 

6. I understand that if I dispose of any shares received by me pursuant to the Employee Stock Purchase Plan within two (2) years
after the Offering Date (the first day of the Offering Period during which I purchased such shares) or one (1) year after the Exercise Date, I will be treated for federal income tax purposes as having received ordinary income at the time of
such disposition in an amount equal to the excess of the fair market value of the shares at the time such shares were purchased by me over the price which I paid for the shares. I hereby agree to notify the Company in writing within
thirty (30) days after the date of any disposition of my shares and I will make adequate provision for Federal, state or other tax withholding obligations, if any, which arise upon the disposition of the Common Stock. The Company may, but
will not be obligated to, withhold from my compensation the amount necessary to meet any applicable withholding obligation including any withholding necessary to make available to the Company any tax deductions or benefits attributable to sale or
early disposition of Common Stock by me. If I dispose of such shares at any time after the expiration of the two (2)-year and one (1)-year holding periods, I understand that I will be treated for federal income tax purposes as having
received income only at the time of such disposition, and that such income will be taxed as ordinary income only to the extent of an 

 
amount equal to the lesser of (a) the excess of the fair market value of the shares at the time of such disposition over the purchase price which I paid for the shares, or (b) 15% of
the fair market value of the shares on the first day of the Offering Period. The remainder of the gain, if any, recognized on such disposition will be taxed as capital gain. 
 7. I hereby agree to be bound by the terms of the Plan. The effectiveness of this Subscription Agreement is dependent upon my eligibility to participate in the Plan. 

8. In the event of my death, I hereby designate the following as my beneficiary(ies) to receive all payments and shares due me under the
Employee Stock Purchase Plan: 
  

											
	NAME: (please print)	  	  

		  	First	  		  	                    Middle	  	Last
			
	  
	  		  	  

	Relationship	  		  		  		  		  	
			
	  
	  		  	  

	Percentage Benefit	  		  		  		  		  	
				
		  		  		  	  

		  		  		  	Address	  		  	
		
	NAME: (please print)	  	  

		  	First	  		  	                    Middle	  	Last
			
	  
	  		  	  

	Relationship	  		  		  		  		  	
			
	  
	  		  	  

	Percentage Benefit	  		  		  		  		  	
				
		  		  		  	  

		  		  		  	Address	  		  	

  
 -2-

			
	Employee’s Social	 	
	Security Number:	 	  

		
	Employee’s Address:	 	  

		
		 	  

		
		 	  

 I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT WILL REMAIN IN EFFECT THROUGHOUT SUCCESSIVE OFFERING PERIODS UNLESS TERMINATED BY ME. 

 

							
	Dated:	 	  
	 		  	  

		 		 		  	Signature of Employee
				
	Dated:	 	  
	 		  	  

		 		 		  	Spouse’s Signature (If beneficiary other than spouse)

 EXHIBIT B 

MAXLINEAR, INC. 
 2010 EMPLOYEE STOCK PURCHASE PLAN 
 NOTICE OF WITHDRAWAL 

The undersigned participant in the Offering Period of the MaxLinear, Inc. 2010 Employee Stock Purchase Plan that began on
                    ,              (the “Offering Date”) hereby
notifies the Company that he or she hereby withdraws from the Offering Period. He or she hereby directs the Company to pay to the undersigned as promptly as practicable all the payroll deductions credited to his or her account with respect to such
Offering Period. The undersigned understands and agrees that his or her option for such Offering Period will be automatically terminated. The undersigned understands further that no further payroll deductions will be made for the purchase of shares
in the current Offering Period and the undersigned will be eligible to participate in succeeding Offering Periods only by delivering to the Company a new Subscription Agreement. 

 

			
	Name and Address of Participant:
	
	  

	
	  

	
	  

	
	Signature:
	
	  

		
	Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]