Document:

Exhibit 10.14

 Exhibit 10.14 
 Statement of Work #2 
 This second Statement of Work (“SOW”), dated April 1,
2013, is issued pursuant to and made a part of the Revised and Restated Master Services Agreement (“Agreement”) which commenced October 1, 2012 between Apollo Group, Inc. (“Apollo Entity”) and iHispano.com
LLC(“Company”). Any terms not otherwise defined herein, shall have the meaning specified in the Agreement. In the event of any conflict between the provisions of this SOW and the Agreement, the provisions of the Agreement shall govern.

 Services 
 Company
will provide the following Services to Apollo Entity: (1) Access to the Hosted Service for UOPX Students or UOPX Alumni; (2) Reports on a daily or weekly or as otherwise requested by Apollo Entity; and (3) supporting services,
including technical support for the Hosted Service, or as requested by Apollo Entity. 
 The Hosted Service is available to UOPX Alumni at
https://alumni.education2career.com/. A UOPX branded version of the Hosted Service is available to UOPX Students through UOPX’s proprietary student web site, eCampus, at https://www.education2career.com/. 

The use of any Apollo Materials, or any representations or statements concerning Apollo Affiliates, including UOPX, are prohibited without the prior
review and express written consent of Apollo Entity. 
  

	 	A.	Fee and Payment 

 Company shall invoice
Apollo Entity One Hundred Sixteen Thousand, Six Hundred Sixty-Six and Sixty-Six Cents ($116,666.66) each month for the SOW Term. The total Fees due under this SOW shall not exceed One Million Four Hundred Thousand Dollars ($1,400,000.00).

 Changes/Modifications 

In the event that Apollo Entity requires a change in the SOW that would impact the necessary resources or the definition of the nature of the work
commitment, the parties agree to negotiate and document such a change in requirement through a written, mutually executed SOW Change Order. Any change orders must be communicated to Executive Sponsor, IT Financial Manager and Buyer before
current purchase order is used in full. 
 Term 
 The term of this SOW is twelve (12) months, commencing on the SOW Effective Date and ending on the SOW End Date (the “SOW Term”). 

 

			
	SOW Effective Date:	  	April 1, 2013
		
	SOW End Date:	  	March 31, 2014

 Billing 
 Company must reference the Apollo Entity purchase order supplied by ApolloEntity on all invoices. All invoices must contain Executive Sponsor, project name, line itemization, including Companyname, role,
bill rate and billing period (date range for items billed). All invoices from Company must be forwarded to: 
 Apollo Group, Inc. 

Attn: Accounts Payable, Mail Stop: CF-K801 
 4025
S. Riverpoint Pkwy 
 Phoenix, AZ 85040 

If invoices are directed to another location within Apollo Entity, a delay in the payment processing may occur 

Signature to follow 

 Accepted by: 
  

			
	 Apollo Entity:
  

Apollo Group, Inc.
 4025 Riverpoint
Parkway
 Phoenix, AZ 85040
	  	 Company:
  

PDN 801 W. Adams Street
 Chicago, IL
60607

	Address	  	Address
		
	/s/ Timothy M. Gagin	  	/s/ Rudy Martinez
	Signature	  	Signature
		
	Timothy M. Gagin	  	Rudy Martinez
	Printed Name	  	Printed Name
		
	Sr. Director, Strategic Sourcing	  	EVP
	Title	  	Title
		
	2/7/2013	  	2/7/2013
	Date	  	Date

  
 - 2 -Exhibit 10.15

 Exhibit 10.15 
 Professional Diversity Network, Inc. 
 2013 Equity Compensation Plan

 Effective [March 8,] 2013 
  

 Contents 

 

					
	 Article 1.
	 	Purpose	  	1
			
	 Article 2.
	 	Definitions	  	1
			
	 Article 3.
	 	Administration	  	5
			
	 Article 4.
	 	Shares Subject to the Plan and Maximum Awards	  	5
			
	 Article 5.
	 	Eligibility and Participation; Grant of Award	  	6
			
	 Article 6.
	 	Stock Options	  	7
			
	 Article 7.
	 	Stock Appreciation Rights	  	8
			
	 Article 8.
	 	Restricted Stock and Restricted Stock Units	  	10
			
	 Article 9.
	 	Other Stock-Based Awards	  	11
			
	 Article 10.
	 	Annual Incentive Award	  	11
			
	 Article 11.
	 	Dividend Equivalents	  	12
			
	 Article 12.
	 	Beneficiary Designation	  	12
			
	 Article 13.
	 	Transferability	  	12
			
	 Article 14.
	 	Rights of Participants	  	13
			
	 Article 15.
	 	Change in Control	  	13
			
	 Article 16.
	 	Shareholder Approval; Amendment, Modification, Suspension, and Termination	  	13
			
	 Article 17.
	 	Section 409A	  	14
			
	 Article 18.
	 	Withholding	  	14
			
	 Article 19.
	 	Successors	  	15
			
	 Article 20.
	 	General Provisions	  	15

  

 Professional Diversity Network, Inc. 

2013 Equity Compensation Plan 
 Article 1. Purpose 
 The purpose of the Plan is to promote the growth and
profitability of the Company by providing certain employees, directors, and consultants of the Company with an incentive to achieve corporate objectives and by attracting and retaining such individuals through an interest in the equity of the
Company. 
 Article 2. Definitions 
 Whenever used in the Plan, the following terms shall have the meanings set forth below, and when the meaning is intended, the initial letter of the word shall be capitalized. 

2.1 “Affiliate” means any corporation or other entity, whether domestic or foreign, in which the Company has or
obtains, directly or indirectly, a proprietary interest of more than fifty percent (50%) by reason of stock ownership or otherwise. 
 2.2 “Annual Incentive Award” means an award under Article 10. 

2.3 “Award” means, individually or collectively, a grant under this Plan of Nonqualified Stock Options, Incentive
Stock Options, SARs, Restricted Stock, Restricted Stock Units, Annual Incentive Awards or Other Stock-Based Awards, in each case subject to the terms of this Plan. 
 2.4 “Award Agreement” means a written agreement entered into by the Company and a Participant setting forth the terms and provisions applicable to an Award granted under this Plan
including any amendment or modification. 
 2.5 “Beneficial Owner” or “Beneficial
Ownership” shall have the meaning ascribed to such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act. 
 2.6 “Board” or “Board of Directors” means the Board of Directors of the Company. 
 2.7 “Cause” means the Participant’s (a) continued failure to substantially perform his duties with the Company or to follow rules of the Company; (b) conviction of a
felony; (c) engagement in illegal conduct, an act of dishonesty, or other conduct, that the Committee, in its sole discretion, determines to be injurious to the Company; or (d) material breach of fiduciary duties to the Company.
Notwithstanding the foregoing, if the Participant and the Company have entered into an employment or service agreement which defines “Cause” (or words of similar import), such definition and any procedures relating to the determination
thereof set forth in such agreement shall govern the determination of whether “Cause” has occurred for purposes of the Plan. 
 2.8 “Change in Control” means the occurrence of any of the following events after the Effective Date: 

	 	(a)	The acquisition or holding by any Person of Beneficial Ownership of combined voting power of the then outstanding voting securities of the Company entitled to vote
generally in the election of a majority of the Board of Directors (the “Outstanding Company Voting Securities”); provided, that for purposes of this Section 2.8, any such acquisition or holding by any of the following entities shall
not by itself constitute a Change in Control: (i) a Person who on the Effective Date is the Beneficial Owner of thirty percent (30%) or more of the Outstanding Company Voting Securities, (ii) the Company or any Affiliate, or
(iii) any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its Affiliates; 

  

	 	(b)	Individuals who constitute the Board as of the Effective Date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority of the
Board, provided that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved by the Nominating Committee of the Board and/or the subcommittees of
such Nominating Committee in accordance with the Company’s Amended and Restated Certificate of Incorporation and By-laws shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any
such individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election or removal of the directors of the Company or other actual or threatened solicitation of proxies of consents
by or on behalf of a Person other than the Board; 

  

	 	(c)	Consummation of a reorganization, merger, or consolidation to which the Company is a party or a sale or other disposition of all or substantially all of the assets of
the Company (a “Business Combination”), in each case unless, following such Business Combination: the shareholders of the Company immediately before such event continue to hold, directly or indirectly, (i) more than fifty percent
(50%) of the Outstanding Company Voting Securities of the Company or a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more direct or
indirect subsidiaries (the Company or such other entity resulting from Business Combination, the “Successor Entity”) and (ii) more than 50% of the equity ownership interests of the Successor Entity; or 

 

	 	(d)	Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

2.9 “Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. For purposes of this Plan,
references to sections of the Code shall be deemed to include references to any applicable regulations thereunder and any successor or similar provisions. 

  

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 2.10 “Committee” means the Compensation Committee of the Board or a
subcommittee thereof, or any other committee designated by the Board to administer this Plan. There shall be at least two (2) members of the Committee, who shall be appointed from time to time by and shall serve at the discretion of the Board,
and who shall be (a) “independent” within the requirements of applicable listing standards, (b) “outside directors” within the meaning of Section 162(m) of the Code, and (c) “non-employee directors”
within the meaning of Rule 16b-3. 
 2.11 “Company” means Professional Diversity Network, Inc. and any
successor thereto as provided in Article 19. References herein to Company shall also include Affiliates as the context requires. 
 2.12 “Consultant” means any consultant, advisor, or independent contractor who renders services to the Company and/or its Affiliates. 

2.13 “Director” means any individual other than an employee who is a member of the Board of Directors of the
Company. 
 2.14 “Effective Date” means March 8, 2013, or if later, the effective date of the
Company’s initial public offering in 2013. 
 2.15 “Employee” means any employee of the Company,
and/or its Affiliates. 
 2.16 “Exchange Act” means the Securities Exchange Act of 1934, as amended from
time to time, or any successor act thereto. 
 2.17 “Fair Market Value” or “FMV” means,
with respect to a Share on a specified date: 
 (a) the final reported sales price on the date in question (or if there is no
reported sale on such date, on the last preceding date on which any reported sale occurred) as reported in the principal consolidated reporting system with respect to securities listed or admitted to trading on the principal United States securities
exchange on which the Shares are listed or admitted to trading, as of the close of the market in New York City and without regard to after-hours trading activity; or 
 (b) if the Shares are not listed or admitted to trading on any such exchange, the closing bid quotation with respect to a Share on such date, as of the close of the market in New York City and without
regard to after-hours trading activity, on the National Association of Securities Dealers Automated Quotations System, or, if no such quotation is provided, on another similar system, selected by the Committee, then in use; or 

(c) if section 2.17(a) and (b) are not applicable, the fair market value of a Share as the Committee may determine. 

2.18 “Freestanding SAR” means an SAR that is granted independently of any Options, as described in Article 7.

  

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 2.19 “Grant Price” means the price established at the time of grant
of an SAR pursuant to Article 7, used to determine whether there is any payment due upon exercise of the SAR. 
 2.20
“Incentive Stock Option” or “ISO” means an Option to purchase Shares granted under Article 6 to an Employee and that is designated as an Incentive Stock Option and that is intended to meet the requirements of
Section 422 of the Code, or any successor provision. 
 2.21 “Nonqualified Stock Option” or
“NQSO” means an Option to Purchase Shares that is not intended to meet the requirements of Section 422 of the Code, or that otherwise does not meet such requirements. 

2.22 “Option” means an Incentive Stock Option or a Nonqualified Stock Option, as described in Article 6.

 2.23 “Option Price” means the price at which a Share may be purchased by a Participant pursuant to an
Option. 
 2.24 “Other Stock-Based Award” means an equity-based or equity-related Award not otherwise
described by the terms of this Plan, granted pursuant to Article 10. 
 2.25 “Participant” means any
Employee, Director or Consultant as set forth in Article 5 to whom an Award is granted. 
 2.26 “Performance
Measures” means the measures set forth in Section 10.3. 
 2.27 “Performance Period” means
the period of time during which the performance goals must be met in order to determine the degree of payout and/or vesting with respect to an Award. 
 2.28 “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group”
as defined in Section 13(d) thereof. 
 2.29 “Plan” means this Professional Diversity Network, Inc.
2013 Equity Compensation Plan. 
 2.30 “Plan Year” means the Company’s fiscal year or such other
period as is provided by the Committee with respect to an Award. 
 2.31 “Restricted Stock” means a
Restricted Stock Award granted to a Participant pursuant to Article 8. 
 2.32 “Restricted Stock Unit”
means a Restricted Stock Award granted to a Participant pursuant to Article 8. 
 2.33 “Share” means a
share of common stock of the Company, $ 0.01 par value per share. 

  

- 4 - 

 2.34 “Stock Appreciation Right” or “SAR” means an
Award, designated as an SAR, granted pursuant to the terms of Article 7 herein. 
 2.35 “Tandem SAR”
means an SAR that is granted in connection with a related Option pursuant to Article 7 herein, the exercise of which shall require forfeiture of the right to purchase a Share under the related Option (and when a Share is purchased under the Option,
the Tandem SAR shall similarly be canceled). 
 Article 3. Administration 

3.1 General. The Committee shall be responsible for administering the Plan, subject to this Article 3 and the other provisions of
the Plan. The Committee may employ attorneys, consultants, accountants, agents, and other Persons, any of whom may be an Employee, and the Committee, the Company, and its officers and Directors shall be entitled to rely upon the advice, opinions, or
valuations of any such Persons. All actions taken and all interpretations and determinations made by the Committee shall be final and binding upon the Participants, the Company, and all other interested Persons. 

3.2 Authority of the Committee. The Committee shall have full and exclusive discretionary power to interpret the terms and the
intent of the Plan and any Award Agreement or other agreement or document ancillary to or in connection with the Plan, to determine eligibility for Awards and to adopt such rules, regulations, forms, instruments, and guidelines for administering the
Plan as the Committee may deem necessary or proper. Such authority shall include, but not be limited to, selecting Award recipients, establishing all Award terms and conditions, including the terms and conditions set forth in Award Agreements,
granting Awards as an alternative to or as the form of payment for grants or rights earned or due under compensation plans or arrangements of the Company, and, subject to Article 16, adopting modifications and amendments to the Plan or any Award
Agreement, including without limitation, any that are necessary to comply with the laws of the countries and other jurisdictions in which the Company and/or its Affiliates operate. 

3.3 Delegation. A Participant who wishes to appeal any determination of the Committee concerning an Award granted pursuant to the
Plan shall notify the Committee in a writing, which shall state the basis for the appeal. The appeal shall be filed with the Committee within 30 days after the date the Participant received the notice from the Committee. The written appeal may be
filed by the Participant’s authorized representative. The Committee shall review the appeal and issue its decision within 90 days after it receives the Participant’s appeal. If the Committee needs additional time to review the appeal, it
shall notify the Participant in writing and specify when it expects to render its decision. After completion of its review, the Committee shall notify the Participant of its decision in writing, which shall state the reasons for the Committee’s
decision. 
 Article 4. Shares Subject to the Plan and Maximum Awards 

4.1 Number of Shares Available for Awards. Subject to adjustment as provided in Section 4.4 herein, the maximum number of
Shares available for issuance to Participants under the Plan shall be 500,000 Shares. 

  

- 5 - 

 4.2 Share Usage. Shares covered by an Award shall only be counted as used to the
extent Shares are actually delivered. Any Shares related to Awards which terminate by expiration, forfeiture, cancellation, or otherwise without the issuance of such Shares shall be available again for grant under the Plan. The Shares available for
delivery under the Plan may be authorized and unissued Shares or treasury Shares. 
 4.3 Shares Available. Subject to
Section 4.4, the aggregate number of Shares subject to awards granted during any calendar year that may be the subject of Options, Stock Appreciation Rights and Awards (including the Shares issued for meeting or exceeding Performance Measures,
as defined in Article 10 hereof, (the “Peformance Units”)) to any one Employee shall not exceed 500,000 Shares. 

Subject to Section 4.4, the maximum number of Shares that may be the subject of any type of Award other than Options and Stock
Appreciation Rights (including the Share-equivalent number of Performance Shares) granted to an Eligible Individual in any calendar year shall be 500,000. For purposes of this Article 4, the Share-equivalent number of Performance Shares shall be
equal to the quotient of (i) the aggregate dollar amount in which the Performance Shares are denominated, divided by (ii) the Fair Market Value of a Share on the date of grant. In the case of any Award under the Plan that is neither
denominated in Shares nor valued on the basis of the value or change in value of a Share, the maximum Award to any individual for any year shall be $10,000,000. 
 4.4 Adjustments in Authorized Shares. In the event of any corporate event or transaction (including, but not limited to, a change in the Shares of the Company or the capitalization of the Company)
after the Effective Date, such as a merger, consolidation, reorganization, recapitalization, separation, stock dividend, stock split, reverse stock split, split up, spin-off, or other distribution of stock or property of the Company, combination of
Shares, exchange of Shares, dividend in kind, or other like change-in-capital structure or distribution (other than normal cash dividends) to stockholders of the Company, or any similar corporate event or transaction, the Committee, in its sole
discretion, in order to prevent dilution or enlargement of Participants’ rights under the Plan, shall substitute or adjust, as applicable, the number and kind of Shares that may be issued under the Plan or under particular forms of Awards, the
number and kind of Shares subject to outstanding Awards, the Option Price or Grant Price applicable to outstanding Awards, and other value determinations applicable to outstanding Awards. The Committee, in its sole discretion, may also make
appropriate adjustments in the terms of any Awards under the Plan to reflect or related to such changes or distributions and to modify any other terms of outstanding Awards, including modifications of performance goals and changes in the length of
Performance Periods. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants. 
 Article 5. Eligibility and Participation; Grant of Award 
 5.1
Eligibility. Subject to the provisions of the Plan, the Committee may, from time to time, select the Employees, Directors, and Consultants, whom Awards shall be granted and shall determine, in its sole discretion, the nature of, any and all
terms permissible by law, and the amount of, each Award. 

  

- 6 - 

 5.2 Award Agreement. Each Award shall be evidenced by an Award Agreement. Each Award
Agreement shall set forth the extent to which the Participant shall have the right to exercise the Option following termination of the Participant’s employment or provision of services to the Company and/or its Affiliates. Such provisions shall
be determined in the sole discretion of the Committee, shall be included in the Award Agreement entered into with each Participant, need not be uniform among all Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons
for termination. 
 Article 6. Stock Options 
 6.1 Grant of Options. Subject to the terms and provisions of the Plan, Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be
determined by the Committee, in its sole discretion. 
 6.2 Award Agreement. Each Award Agreement granting an Option
shall specify the Option Price, the maximum duration of the Option, the number of Shares to which the Option pertains, the conditions upon which an Option shall become vested and exercisable, and such other provisions as the Committee shall
determine which are not inconsistent with the terms of the Plan. The Award Agreement also shall specify whether the Option is intended to be an ISO or a NQSO, and in the absence of any such specification, the Option shall be an NQSO. 

6.3 Option Price. The Option Price for each grant of an Option under this Plan shall be as determined by the Committee and shall
be specified in the Award Agreement, and shall be no less than the Fair Market Value on the date of grant. 
 6.4 Duration of
Options. Each Option granted to a Participant shall expire at such time as the Committee shall determine at the time of grant; provided, however, no Option shall be exercisable later than the tenth (10th) anniversary of its grant date other
than an Option granted to a Participant outside the United States. 
 6.5 Exercise of Options. Options granted under this
Article 6 shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant. 

6.6 Payment. Options shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the
Company in a form specified or accepted by the Committee, or by complying with any alternative procedures which may be authorized by the Committee, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied
by full payment for the Shares. 
 A condition of the issuance of the Shares as to which an Option shall be exercised shall be
the payment of the Option Price. The Option Price of any Option shall be payable to the Company in full either: (a) in cash or its equivalent; (b) by tendering previously acquired Shares having an aggregate Fair Market Value at the time of
exercise equal to the aggregate Option Price (provided that the Committee may require that the Shares that are tendered must have been held by the Participant for specified period prior to their tender to satisfy the aggreagte Option Price if
acquired under this Plan or any other compensation plan mentioned by the Company, or 

  

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have been purchased on the open market); (c) by a combination of (a) and (b); or (d) any other method approved or accepted by the Committee in its sole discretion, including,
without limitation, if the Committee so determines, a cashless (broker-assisted) exercise. 
 Subject to any governing rules or
regulations, as soon as practicable after receipt of written notification of exercise and full payment (including satisfaction of any applicable tax withholding), the Company shall deliver to the Participant evidence of book entry Shares, or upon
the Participant’s request, Share certificates in an appropriate amount based upon the number of Shares purchased under the Option(s). 
 6.7 ISO. To the extent that an Option is an Incentive Stock Option, the following provisions shall apply: 
 Subject to the limit set forth in Section 4.1 on the number of Shares that may be issued in the aggregate under the Plan, the maximum number of Shares that may be issued pursuant to ISOs shall be
500,000. ISOs may be granted only to eligible Employees of the Company or of any parent or subsidiary corporation (as permitted by Section 422 of the Code and the treasury regulations thereunder). If any Participant shall make any disposition
of Shares issued pursuant to the exercise of an ISO under the circumstances described in Section 421(b) of the Code (relating to certain disqualifying dispositions), such Participant shall notify the Company of such disposition within ten
(10) days thereof and such Option shall be considered to be an NQSO. 
 Notwithstanding any other provision of this Plan to
the contrary, with respect to a Tandem SAR granted in connection with an ISO: (a) the Tandem SAR will expire no later than the expiration of the underlying ISO; (b) the value of the payout with respect to the Tandem SAR may be for no more
than one hundred percent (100%) of the excess of the Fair Market Value of the Shares subject to the underlying ISO at the time the Tandem SAR is exercised over the Option Price of the underlying ISO; and (c) the Tandem SAR may be exercised
only when the Fair Market Value of the Shares subject to the ISO exceeds the Option Price of the ISO. Notwithstanding the foregoing, no Incentive Stock Options may be granted more than ten (10) years after the earlier of (a) adoption of
the Plan by the Board, or (b) the Effective Date. 
 To the extent that the aggregate Fair Market Value (determined as of
the date of grant) of Shares with respect to which options designated as ISOs are exercisable for the first time by a Participant during any calendar year (under this Plan or any other plan of the Company, or any subsidiary as defined in
Section 424 of the Code) exceeds $100,000, such options shall constitute NQSOs. If an ISO is granted to any person who, at the time such option is granted, owns capital stock possessing more than ten percent (10%) of the total combined
voting power of all classes of capital stock of the Company (or of any subsidiary), the purchase price per Share shall be 110% of Fair Market Value and the ISO may not be exercised more than 5 years from the date of grant, otherwise the grant shall
be considered to be an NQSO. 
 Article 7. Stock Appreciation Rights 

7.1    Grant of SARs. Subject to the terms and conditions of the Plan, SARs may be granted to Participants at any
time and from time to time as shall be determined by the Committee. The Committee may grant Freestanding SARs, Tandem SARs, or any combination of these forms of SARs. 

  

- 8 - 

 Subject to the terms and conditions of the Plan, the Committee shall have complete
discretion in determining the number of SARs granted to each Participant and, consistent with the provisions of the Plan, in determining the terms and conditions pertaining to such SARs. 

The Grant Price for each grant of a Freestanding SAR shall be determined by the Committee and shall be specified in the Award, but shall
be no less than the Fair Market Value of a Share on the date of grant. The Grant Price of Tandem SARs shall be equal to the Option Price of the related Option. 
 7.2 SAR Agreement. Each SAR Award shall be evidenced by an Award Agreement that shall specify the Grant Price, the term of the SAR, and such other provisions as the Committee shall determine.

 7.3 Term of SAR. The term of an SAR granted under the Plan shall be determined by the Committee, in its sole
discretion, and except as determined otherwise by the Committee and specified in the SAR Award Agreement, no SAR shall be exercisable later than the tenth (10th) anniversary of its grant date. 

7.4 Exercise of Freestanding SARs. Freestanding SARs may be exercised upon whatever terms and conditions the Committee, in its
sole discretion, imposes. 
 7.5 Exercise of Tandem SARs. Tandem SARs may be exercised for all or part of the Shares
subject to the related Option upon the surrender of the right to exercise the equivalent portion of the related Option. A Tandem SAR may be exercised only with respect to the Shares for which its related Option is then exercisable. 

7.6 Payment of SAR Amount. Upon the exercise of an SAR, a Participant shall be entitled to receive payment from the Company in an
amount determined by multiplying: 
  

	 	(a)	The excess of the Fair Market Value of a Share on the date of exercise over the Grant Price; by 

 

	 	(b)	The number of Shares with respect to which the SAR is exercised. 

 At the discretion of the Committee, the payment upon SAR exercise may be in cash, Shares, or any combination thereof, or in any other manner approved by the Committee in its sole discretion. The
Committee’s determination regarding the form of SAR payout shall be set forth in the Award Agreement pertaining to the grant of the SAR. 
 7.7 Other Restrictions. The Committee shall impose such other conditions and/or restrictions on any Shares received upon exercise of an SAR granted pursuant to the Plan as it may deem advisable or
desirable. These restrictions may include, but shall not be limited to, a requirement that the Participant hold the Shares received upon exercise of an SAR for a specified period of time. 

  

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 Article 8. Restricted Stock and Restricted Stock Units 

8.1 Grant of Restricted Stock or Restricted Stock Units. Subject to the terms and provisions of the Plan, the Committee, at any
time and from time to time, may grant Shares of Restricted Stock and/or Restricted Stock Units to Participants in such amounts as the Committee shall determine. Restricted Stock Units shall be similar to Restricted Stock except that no Shares are
actually awarded to the Participant on the date of grant. 
 8.2 Restricted Stock or Restricted Stock Unit Agreement.
Each Restricted Stock and/or Restricted Stock Unit grant shall be evidenced by an Award Agreement that shall specify the period(s) of restriction, the number of Shares of Restricted Stock or the number of Restricted Stock Units granted, and such
other provisions as the Committee shall determine. 
 8.3 Other Restrictions. The Committee shall impose such other
conditions and/or restrictions on any Shares of Restricted Stock or Restricted Stock Units granted pursuant to the Plan as it may deem advisable including, without limitation, a requirement that Participants pay a stipulated purchase price for each
Share of Restricted Stock or each Restricted Stock Unit, restrictions based upon the achievement of specific performance goals, time-based restrictions on vesting following the attainment of the performance goals, time-based restrictions, and/or
restrictions under applicable laws or under the requirements of any stock exchange or market upon which such Shares are listed or traded, or holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such
Restricted Stock or Restricted Stock Units. 
 To the extent deemed appropriate by the Committee, the Company may retain the
certificates representing Shares of Restricted Stock in the Company’s possession until such time as all conditions and/or restrictions applicable to such Shares have been satisfied or lapse. 

Except as otherwise provided in this Article 8, Shares of Restricted Stock covered by each Restricted Stock Award shall become freely
transferable by the Participant after all conditions and restrictions applicable to such Shares have been satisfied or lapse (including satisfaction of any applicable tax withholding obligations), and except as expressly provided by the Committee in
the Award Agreement, Restricted Stock Units shall be paid in Shares. 
 8.4 Certificate Legend. In addition to any
legends placed on certificates pursuant to Section 20.3, each certificate representing Shares of Restricted Stock granted pursuant to the Plan may bear a legend such as the following or as otherwise determined by the Committee in its sole
discretion: 
 The sale or transfer of Shares of stock represented by this certificate, whether voluntary, involuntary, or by
operation of law, is subject to certain restrictions on transfer as set forth in the Professional Diversity Network, Inc. 2013 Equity Compensation Plan, and in the associated Award Agreement. A copy of the Plan and such Award Agreement may be
obtained from Professional Diversity Network, Inc. 
 8.5 Voting Rights. Unless otherwise determined by the Committee and
set forth in a Participant’s Award Agreement, to the extent permitted or required by law, as determined by the Committee, Participants holding Shares of Restricted Stock granted hereunder may be granted

  

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the right to exercise full voting rights with respect to those Shares during the time such shares are subject to restrictions under Section 8.2 or 8.3. A Participant shall have no voting
rights with respect to any Restricted Stock Units granted hereunder. 
 8.6 Section 83(b) Election. If a Participant
makes an election pursuant to Section 83(b) of the Code concerning a Restricted Stock Award, the Participant shall be required to promptly file copy of such election with the Company. 
 Article 9. Other Stock-Based Awards 
 9.1 Other Stock-Based Awards.
The Committee may grant other types of equity-based or equity-related Awards not otherwise described by the terms of this Plan (including the grant or offer for sale of unrestricted Shares) in such amounts and subject to such terms and conditions,
as the Committee shall determine. Such Awards may involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value of Shares. 

9.2 Value of Other Stock-Based Awards. Each Other Stock-Based Award shall be expressed in terms of Shares or units based on
Shares, as determined by the Committee. The Committee may establish performance goals in its discretion. If the Committee exercises its discretion to establish performance goals, the number and/or value of Other Stock-Based Awards that will be paid
out to the Participant will depend on the extent to which the performance goals are met. 
 9.3 Payment of Other Stock-Based
Awards. Payment, if any, with respect to an Other Stock-Based Award shall be made in accordance with the terms of the Award, in cash or Shares as the Committee determines. 
 Article 10. Annual Incentive Award 
 10.1 Establishment of Annual
Incentive Pool. The Committee may designate Employees who are eligible to receive a monetary payment in any Plan Year based on a percentage of an incentive pool determined by reference to one or more Performance Measures set forth in
Section 10.3. The Committee shall allocate an incentive pool percentage to each designated Employee for each Plan Year, provided the sum of the incentive pool percentages for all Employees cannot exceed one hundred percent (100%) of the
total pool. 
 10.2 Determination of Employees’ Portions. As soon as possible after the determination of the
incentive pool for a Plan Year, the Committee shall calculate each Employee’s allocated portion of the incentive pool based upon the percentage established at the beginning of the Plan Year. Each Employee’s incentive award then shall be
determined by the Committee based on the Employee’s allocated portion of the incentive pool subject to adjustment in the sole discretion of the Committee. In no event may the portion of the incentive pool allocated to a Employee be increased in
any way, including as a result of the reduction of any other Employee’s allocated portion. The Committee shall retain the discretion to adjust such Awards downward. 
 10.3 Performance Measures. The performance measures applicable to the payment or vesting of an Award intended to qualify as performance-based compensation under section

  

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162(m) of the Code to a person determined by the Committee to be reasonably likely to be a covered employee under section 162(m) of the Code shall be chosen from among the following performance
measures (“Performance Measures”): net earnings or net income (before or after taxes); earnings per Share; net sales or revenue growth; net operating profit; return measures (including, but not limited to, return on assets, capital,
invested capital, equity, revenue, or sales); cash flow (including, but not limited to, operating cash flow, free cash flow, and cash flow return on equity); earnings before or after taxes, interest, depreciation, and/or amortization; gross or
operating margins; productivity ratios; Share price (including, but not limited to, growth measures and total shareholder return); expense targets; margins; operating efficiency; market share; customer satisfaction; and balance sheet and statement
of cash flow measures (including but not limited to, working capital amounts and levels of short and long-term debt). In addition, the Committee may make grants without satisfying the requirements of Code Section 162(m) and provide for vesting
to be determined based on Performance Measures other than those set forth herein. 
 For Awards intended to qualify as
performance-based compensation under section 162(m) of the Code, the Committee shall establish the applicable Performance Measure(s) within the time prescribed under section 162(m) of the Code. All determinations by the Committee as to the
achievement of the applicable Performance Measure(s) shall be in writing prior to the payment of the Award. 
 Article 11. Dividend
Equivalents 
 Any Participant selected by the Committee may be granted dividend equivalents based on the dividends declared
on Shares that are subject to any Award, to be credited as of dividend payment dates, during the period between the date the Award is earned or vested and the date the Award is exercised or expires, as determined by the Committee. Such dividend
equivalents shall be converted to cash or additional Shares by such formula and at such time and subject to such limitations as may be determined by the Committee. Notwithstanding the foregoing, the receipt of dividend equivalents on Options or SARs
shall not be made contingent on the exercise of any Award. 
 Article 12. Beneficiary Designation 

Each Participant under the Plan may, from time to time, name any beneficiary or beneficiaries to whom any benefit under the Plan is to be
paid in case of his death before he receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Committee, and will be effective only when filed by the
Participant in writing with the Company during the Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate. 

Article 13. Transferability 
 Unless otherwise determined by the Committee, Awards by their terms shall not be transferable by the Participant other than by will or by the laws of descent and distribution, and the Shares granted
pursuant to Awards shall be distributable, during the lifetime of the Participant, only to the Participant. 

  

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 Article 14. Rights of Participants 

14.1    Employment. Nothing in the Plan or an Award Agreement shall interfere with or limit in any way the right of
the Company and/or its Affiliates to terminate any Participant’s employment or service on the Board or to the Company at any time or for any reason not prohibited by law, nor confer upon any Participant any right to continue his employment or
service as a Director or Consultant for any specified period of time. 
 Neither an Award nor any benefits arising under this
Plan shall constitute an employment contract with the Company and/or its Affiliates and, accordingly, subject to Article 16 of this Plan, the benefits hereunder may be terminated at any time in the sole and exclusive discretion of the Committee
without giving rise to any liability on the part of the Company and/or its Affiliates. 
 14.2 Participation. No
individual shall have the right to be selected to receive an Award under this Plan, or, having been so selected, to be selected to receive a future Award. 
 14.3 Rights as a Stockholder. Except as otherwise provided herein, a Participant shall have none of the rights of a shareholder with respect to Shares covered by any Award until the Participant
becomes the record holder of such Shares. 
 Article 15. Change in Control 

If provided in an Award Agreement or otherwise determined by the Committee, upon a Change in Control, all then-outstanding Options and
Stock Appreciation Rights shall become fully vested and exercisable, and all other then-outstanding Awards shall vest in full and be free of restrictions. The Committee will not be required to treat all Awards similarly in a Change in Control.

 Article 16. Shareholder Approval; Amendment, Modification, Suspension, and Termination 

16.1    Shareholder Approval; Amendment, Modification, Suspension, and Termination. The Plan shall be subject to
approval of shareholders of the Company. Subject to Section 16.4, the Committee may, at any time and from time to time, alter, amend, modify, suspend, or terminate the Plan and any Award Agreement in whole or in part; provided, however, that,
without the prior approval of the Company’s stockholders and except as provided in Sections 4.4 and 16, Options or SARs issued under the Plan will not be repriced, replaced, or regranted through cancellation, or cash out, or by lowering the
Option Price of a previously granted Option or the Grant Price of a previously granted SAR, and no amendment of the Plan or grant of Award under the Plan shall be made without stockholder approval if stockholder approval is required by law,
regulation, or stock exchange rule; including, but not limited to, the Exchange Act, the Code, and, if applicable, the New York Stock Exchange Listed Company Manual/the Nasdaq Stock Market Rules. 

  

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 16.2 Termination of the Plan. Unless sooner terminated as provided herein, the Plan
shall terminate ten (10) years from the Effective Date. After the Plan is terminated, no Awards may be granted but Awards previously granted shall remain outstanding in accordance with their applicable terms and conditions and the Plan’s
terms and conditions. 
 16.3 Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. The
Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 4.4 hereof) affecting the
Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent unintended dilution or
enlargement of the benefits or potential benefits intended to be made available under the Plan. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under the Plan. 

16.4 Awards Previously Granted. Notwithstanding any other provision of the Plan to the contrary, except as set forth in
Section 17.1, no termination, amendment, suspension, or modification of the Plan or an Award Agreement shall adversely affect in any material way any Award previously granted under the Plan, without the written consent of the Participant
holding such Award. 
 Article 17. Section 409A. 
 17.1 To the extent that the Plan and/or any Awards granted or awarded under the Plan are construed to be non-qualified deferred compensation plans described in section 409A of the Code, the
Plan and any Award Agreements shall be operated, administered and construed so as to comply with the requirements of section 409A of the Code. The Plan and any Award Agreements shall be subject to amendment, with or without advance notice to
Employees, Directors and other interested parties, and on a prospective or retroactive basis, including, but not limited to, amendment in a manner that adversely affects the rights of Employees, Directors and other interested parties, to the extent
necessary to effect compliance with section 409A of the Code. This Plan does not permit the acceleration of the time or schedule of any distribution of an Award subject to section 409A of the Code, except as provided by Section 409A of the
Code. 
 Article 18. Withholding 
 18.1 Tax Withholding. The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, the minimum statutory amount to satisfy federal, state,
and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Plan. 
 18.2 Share Withholding. With respect to withholding required upon the exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock and Restricted Stock Units, or upon the
achievement of performance goals related to Performance Shares, or any other taxable event arising as a result of an Award granted hereunder, Participants may elect, subject to the approval of the Committee, to satisfy the withholding requirement,
in whole or in part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be 

  

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 determined equal to the minimum statutory total tax that could be imposed on the transaction. All such
elections shall be irrevocable, made in writing, and signed by the Participant, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 

Article 19. Successors 

All obligations of the Company under the Plan with respect to Awards granted hereunder shall be binding on any successor to the Company,
whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 

Article 20. General Provisions 
 20.1 Forfeiture Events. The Committee may specify in an Award Agreement that the Participant’s rights, payments, and benefits with respect to an Award shall be subject to reduction,
cancellation, forfeiture, or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to, termination of
employment for Cause, termination of the Participant’s provision of services to the Company and/or its Affiliates, violation of material Company and/or Affiliate policies, breach of noncompetition, confidentiality, or other restrictive
covenants that may apply to the Participant, or other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Affiliates. 
 20.2 Recapture. If the grant of an Award or a payment under this Plan is subject to recapture under any securities law or rule or other applicable provision or in accordance with any recapture or
clawback policy of the Company, the Participant shall reimburse the Company the amount of any payment in settlement of an Award earned or accrued subject to such recapture or clawback provision. 

20.3 Legend. The certificates for Shares may include any legend which the Committee deems appropriate to reflect any restrictions
on transfer of such Shares. 
 20.4 Gender and Number. Except where otherwise indicated by the context, any masculine
term used herein also shall include the feminine, the plural shall include the singular, and the singular shall include the plural. 
 20.5 Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the
Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 
 20.6 Requirements of
Law. The granting of Awards and the issuance of Shares under the Plan shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.

 20.7 Delivery of Title. The Company shall have no obligation to issue or deliver 

  

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 evidence of title for Shares issued under the Plan prior to the earlier of (a) obtaining any approvals
from governmental or regulatory body or agencies that the Company determines are necessary or advisable; and (b) completion of any registration or other qualification of the Shares under any applicable national, local or foreign law or ruling
of any governmental or regulatory body or agency that the Company determines to be necessary or advisable. The inability of the Company to obtain authority from any governmental or regulatory body having jurisdiction, which authority is deemed by
the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have
been obtained. 
 20.8 Investment Representations. The Committee may require any individual receiving Shares pursuant to
an Award under this Plan to represent and warrant in writing that the individual is acquiring the Shares for investment and without any present intention to sell or distribute such Shares. 

20.9 Uncertificated Shares. To the extent that the Plan provides for issuance of certificates to reflect the transfer of Shares,
the transfer of such Shares may be affected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange. 
 20.10 Unfunded Plan. Participants shall have no right, title, or interest whatsoever in or to any investments that the Company and/or its Affiliates may make to aid it in meeting its obligations
under the Plan. Nothing contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and any Participant, beneficiary, legal
representative, or any other Person. To the extent that any individual acquires a right to receive payments from the Company and/or its Affiliates under the Plan, such right shall be no greater than the right of an unsecured general creditor of the
Company and/or its Affiliates. 
 20.11 No Fractional Shares. No fractional Shares shall be issued or delivered pursuant
to the Plan or any Award. The Committee shall determine whether cash, Awards, or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated.

 20.12 Retirement and Welfare Plans. Neither Awards made under the Plan nor Shares or cash paid pursuant to such
Awards, except pursuant to Annual Incentive Awards, may be included as “compensation” for purposes of computing the benefits payable to any Participant under the Company’s, and/or its Affiliates’ retirement plans (both qualified
and nonqualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into account in computing a Participant’s benefit. 

20.13 No Constraint on Corporate Action. Nothing in this Plan shall be construed to: (i) limit, impair, or otherwise affect
the Company’s or its Affiliates’ right or power to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part
of its business or assets; or (ii) limit the right or power of the Company and/or its Affiliates to take any action which such entity deems to be necessary or appropriate. 

  

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 20.14 Governing Law. The Plan and each Award Agreement shall be governed by the laws
of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction. 

  

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