Document:

Exhibit

EXECUTION VERSION

DATE 4 October 2019

(1)   ÁINE DENN
(2)    POWERSTEERING SOFTWARE LIMITED
(3)   ROY ENRIGHT (AS SELLERS’ REPRESENTATIVE)

	
	
	SHORT FORM SHARE PURCHASE AGREEMENT
relating to the acquisition of certain of the 
issued share capital of
ALTIFY IRELAND LIMITED

 
Pillsbury Winthrop Shaw Pittman LLP 
Tower 42, Level 21 
25 Old Broad Street 
London EC2N 1HQ

TABLE OF CONTENTS
Page
1.DEFINITIONS AND INTERPRETATION    2
2.SALE AND PURCHASE    3
3.CONSIDERATION    4
4.COMPLETION    4
5.WARRANTIES    4
6.RESTRICTIONS ON AD    5
7.RELEASE    6
8.ANNOUNCEMENTS AND CONFIDENTIALITY    7
9.SELLERS' REPRESENTATIVE    8
10.VOTING POWER OF ATTORNEY    9
11.INDEMNITY FOR LOST SHARE CERTIFICATES    9
12.ASSIGNMENT    10
13.NOTICES    10
14.GENERAL    11
15.ENTIRE AGREEMENT    12
16.GOVERNING LAW AND JURISDICTION    13

i

SHORT FORM SHARE PURCHASE AGREEMENT
DATE:    4 October 2019
BETWEEN:
		
	(1)
	ÁINE DENN of 43 Glasthule Road, Sandycove, Co. Dublin, Ireland (“AD”);

		
	(2)
	POWERSTEERING SOFTWARE LIMITED, a private company registered under the laws of England and Wales with registered number 5587016 whose registered office is at 16 Great Queen Street, Covent Garden, London, WC2B 5AH (the “Buyer”); and

		
	(3)
	ROY ENRIGHT of 31 Waltham Terrace, Blackrock, Dublin, Ireland (the "Sellers' Representative"),

each a Party and, together, the Parties.
INTRODUCTION:
		
	(A)
	AD is the legal and beneficial owner and registered holder of 6,448,607 ordinary shares of €0.00001 each in the capital of the Company (as defined below) (the "AD Sale Shares").

		
	(B)
	AD has agreed to sell, and the Buyer has agreed to purchase, the AD Sale Shares, on the terms and subject to the conditions of this Agreement.

AGREEMENT:

ii

		
	1.
	DEFINITIONS AND INTERPRETATION

		
	1.1
	The Introduction and Schedules form part of this Agreement and have the same force and effect as if set out in the body of this Agreement. Any reference to this Agreement includes the Introduction and Schedules.

		
	1.2
	In this Agreement, unless expressly stated otherwise, capitalised terms have the meanings assigned to them in the Majority SPA and the capitalised terms set out below have the following meanings:

AD Consideration: has the meaning given in Clause 3;
Agreement: this short form share purchase agreement, including any Introduction and/or Schedules;
Company: Altify Ireland Limited incorporated under the laws of Ireland (registered number 406845);
Completion: completion of the sale and purchase of the AD Sale Shares in accordance with Clause 4; 
Completion Date: the date of this Agreement;
Majority Sellers: the sellers under the Majority SPA;
Majority SPA: the agreement between the Majority Sellers (as defined therein) and the Buyer dated the date of this Agreement pursuant to which the Majority Sellers agreed to transfer certain shares in the capital of the Company to the Buyer; and
Minority Sellers: the sellers under the Minority SPA;
Minority SPA: the agreement between the Minority Sellers and the Buyer dated the date of this Agreement pursuant to which the Minority Sellers agreed to transfer certain shares in the capital of the Company to the Buyer; and
Relevant Business: the business undertaken by the Company and its Subsidiaries on the Completion Date of (i) developing and licensing of software solutions for customer revenue optimisation, sales process management, opportunity management, account management and sales navigation integration, and (ii) providing sales team training.
		
	1.3
	The rules of interpretation as set out in Clause 1.3 of the Majority SPA shall apply to this Agreement as if contained in this Agreement. 

		
	2.
	SALE AND PURCHASE

		
	2.1
	AD shall sell the entire legal and beneficial interest in the AD Sale Shares free from all Encumbrances, and the Buyer shall purchase, the AD Sale Shares with effect from the Completion Date together with all rights attached or accruing to such AD Sale Shares at the date of this Agreement (including, without limitation, the right to receive any dividend, distribution or return of capital declared, paid or made on or after the date of this Agreement).

		
	2.2
	The Buyer will not be obliged to complete the purchase of any of the AD Sale Shares unless:

		
	2.2.1
	the purchase of all of the Majority Sellers' Shares;

		
	2.2.2
	the purchase of all of the Minority Shares; 

		
	2.2.3
	the purchase of all of the Altify UK Shares;

		
	2.2.4
	the purchase of all of the Option Shares; and

		
	2.2.5
	the purchase of the AD Sale Shares,

is completed simultaneously.
		
	2.3
	AD undertakes in respect of the AD Sale Shares to procure the waiver of all pre-emption and similar rights over the AD Sale Shares or any of them to which any person may be entitled under the constitution of the Company or otherwise in relation to the sale and purchase of the same under this Agreement.

		
	2.4
	Simultaneously with Completion the Buyer will purchase the Majority Shares pursuant to the Majority SPA.

		
	2.5
	Simultaneously with Completion the Buyer will purchase the Minority Shares pursuant to the Minority SPA.

		
	2.6
	Simultaneously with Completion the Buyer will purchase the Altify UK Shares pursuant to the Altify UK SPA.

		
	2.7
	Simultaneously with Completion the Buyer will purchase the Option Shares pursuant to the Option SPA and procure that the Aggregate Option Exercise Price is paid to the Company in accordance with the terms of such agreement.

		
	3.
	CONSIDERATION

The total aggregate consideration for the purchase of the AD Sale Shares under this Agreement shall be $2,164,111 (the “AD Consideration”).

		
	4.
	COMPLETION

		
	4.1
	Completion shall take place on the Completion Date when AD and the Buyer shall comply with their respective obligations as specified in Clauses 4.2 and 4.3.

		
	4.2
	On Completion AD shall deliver to the Buyer:

		
	4.2.1
	a counterpart of this Agreement, duly executed by AD or her duly appointed attorney;

		
	4.2.2
	a stock transfer form in the name of the Buyer in respect of all the AD Sale Shares, duly executed by AD or her duly appointed attorney;

and AD irrevocably and unconditionally authorises the directors of the Company or the Sellers’ Solicitors to, where appropriate, date such documents on the Completion Date and to deliver such documents to the Buyer at Completion.
		
	4.3
	On Completion, the Buyer shall pay the Sellers’ Solicitors’ Account to the AD Consideration.

		
	4.4
	The performance by AD of her respective obligations under Clause 4.2 shall be a condition precedent to the performance by the Buyer of its obligation under Clause 4.3 to the extent that, if AD shall fail or shall be unable to perform any of her obligations under Clause 4.2, the Buyer shall at its option (and without prejudice to any other remedies or rights which it may have against AD in respect of such non-performance) cease to be liable to perform its obligations under Clause 4.3 provided however that the Buyer will not have any right to seek the rescission of this Agreement.

		
	4.5
	The transfer of monies to the Sellers’ Solicitors’ Account by the Buyer in accordance with Clause 4.3 shall be an absolute discharge for the Buyer of such obligation.

		
	5.
	WARRANTIES

		
	5.1
	AD warrants to the Buyer, in respect of herself only, that each of the following warranties is true and accurate in all respects and not misleading as at the Completion Date:

		
	5.1.1
	AD and/or her duly appointed attorney has full power to enter into and perform her obligations under this Agreement and all the documents in the Agreed Form to be executed by her and this Agreement constitutes, and each such Agreed Form document when executed will constitute, binding obligations of AD in accordance with its terms;

		
	5.1.2
	the execution and delivery of this Agreement, and any of the Agreed Form documents to be executed by AD and the performance of and compliance by AD with its and their terms and provisions will not:

		
	(a)
	conflict with or result in a breach of, or constitute a default under, any agreement or instrument to which AD is a party or by which AD is bound; or

		
	(b)
	conflict with or result in a breach of any applicable law, regulation, order, writ, injunction or decree of any court or agency to which AD is subject; 

		
	5.1.3
	AD is not party to any agreement or bound by any obligation the terms of which will prevent the Buyer from enjoying the full benefit of this Agreement; 

		
	5.1.4
	the AD Sale Shares are legally and beneficially owned by AD free from all Encumbrances (other than as set out in the Company’s constitution); and

		
	5.1.5
	neither AD nor, so far as AD is aware, any person connected with AD has any interest, direct or indirect, in any business other than that now carried on by the Company which is or is likely to be or become competitive with the business of the Company.

		
	6.
	RESTRICTIONS ON AD

		
	6.1
	The provisions of this Clause ‎6 are made with the intention of assuring to the Buyer and each of its Group Companies following Completion the full benefit and value of the goodwill, confidential information and connections of the Company and the Subsidiaries and as a constituent part of the agreement for the sale of the AD Sale Shares. Accordingly AD agrees that the restrictions contained in this Clause 6 are reasonable and necessary for the protection of the legitimate interests of the Buyer and that the restrictions do not work harshly on her.

		
	6.2
	AD covenants with the Buyer and each of its Group Companies following the Completion Date that for the period of 18 months following the Completion Date, save with the prior written consent of the Buyer, she will not directly or indirectly on her own behalf or on behalf of any other person:

		
	6.2.1
	in competition with the Company or any of the Subsidiaries deal with, seek employment or engagement with, or be employed or engaged by or be a director or consultant to, work on any account of, or be in any way interested in or connected with any business which competes with the Relevant Business for the purpose of providing services the same as or similar to those she provided to the Company or any of the Subsidiaries, provided always that this Clause shall not prevent AD from being interested as a holder or beneficial owner solely for investment purposes of less than three per cent of any securities of any company whose securities are listed or quoted on any recognised investment exchange in Ireland, the United Kingdom or the United States;

		
	6.2.2
	deal with, seek employment or engagement with, be employed or engaged by, engage in business with or work on any account or business of any customer of the Company or any of the Subsidiaries for the purpose of providing that customer with services which are the same as or similar to any services which she was involved in providing to that customer at any time in the 12 months preceding the Completion Date;

		
	6.2.3
	solicit business from any customer of the Company or any of the Subsidiaries for the purpose of providing to that customer services which are the same as or similar to those which she has been involved in providing to that customer at any time in the 12 months preceding the Completion Date;

		
	6.2.4
	intentionally interfere with or seek to interfere with contractual or other trade relations between the Company or any of the Subsidiaries and any of its or their respective customers;

		
	6.2.5
	interfere or seek to interfere with contractual or other trade relations between the Company or any of the Subsidiaries and any of its or their respective suppliers;

		
	6.2.6
	solicit the services of, endeavour to entice away from the Company or any of the Subsidiaries or knowingly assist in, or procure, the employment by any other person of any director or senior or managerial employee or consultant of the Company or any of the Subsidiaries known personally to her (whether or not such person would commit any breach of his contract of employment or engagement by reason of leaving the service of such company);

		
	6.2.7
	save as required by applicable law or regulation or in fulfilment of her duties as an employee of any Group Company, she will not communicate or divulge to any person or make use of and shall use her reasonable endeavours to prevent the publication, disclosure or unauthorised use of any Confidential Information concerning the business, finances or affairs of the Company or of any of the Subsidiaries or of any of their respective customers or suppliers;

		
	6.2.8
	for so long as it is used or registered in the name of the Company or any of its Group Companies, save for when fulfilling her duties as an employee of any Group Company, use or apply to register on any public register any trade, business or domain name or e-mail address used by the Company or any of the Subsidiaries during the period of two years preceding the Completion Date or any name similar to those names or addresses or likely to be confused with them.

		
	6.3
	If any of the restrictions in Clause ‎6 is held to be void or ineffective for any reason but would be held to be valid and effective if part of its wording were deleted, that restriction shall apply with such deletions as may be necessary to make it valid and effective.

		
	6.4
	The restrictions contained in Clause ‎6 shall be construed as separate and individual restrictions and shall each be capable of being severed without prejudice to the other restrictions or to the remaining provisions.

		
	7.
	RELEASE 

		
	7.1
	AD confirms that she has no claim (whether in respect of any breach of contract, compensation for loss of office or monies due to her or on any account whatsoever) outstanding against the Company or any Subsidiary or against any of the shareholders, directors, officers, employees of the Company or any Subsidiary and that no agreement or arrangement (including any contract of employment) is outstanding under which the Company or any Subsidiary or any of such persons has or could have any obligation of any kind to her, except:

		
	7.1.1
	as may arise under the terms of this Agreement;

		
	7.1.2
	as may arise under the contracts of employment or service agreements of AD with the Company or the Subsidiaries (as the case may be);

		
	7.1.3
	in relation to the accrual of any remuneration (of any kind, including salary, commission, bonus payments and pension contributions) to AD in accordance with her contracts of employment or service agreements with the Company or the Subsidiaries, in each case in respect of the latest relevant remuneration period; and

		
	7.1.4
	any amounts due to AD in respect of the reimbursement of expenses in accordance with the terms of her contract of employment or service agreements with the Company or the Subsidiaries and the Company’s or Subsidiaries' expenses policy.

		
	7.2
	To the extent that any such claim or obligation exists or may exist, AD irrevocably and unconditionally waives such claim or obligation and releases the Company and each Subsidiary and any such other persons from any liability whatsoever in respect of such claim or obligation.

		
	8.
	ANNOUNCEMENTS AND CONFIDENTIALITY

		
	8.1
	Subject to the provisions of Clause ‎8.2, no Party shall issue any press release or publish any circular to shareholders or any other public document or make any statement or disclosure to any person who is not a Party (including any document, statement or disclosure published, issued or made by AD to any supplier to or customer of the Company or any of the Subsidiaries) in each case relating to this Agreement, its terms or the matters contained in it, without obtaining the prior written approval of the Buyer and the Sellers’ Representative to its contents and the manner and extent of its presentation and publication or disclosure (such approval not to be unreasonably withheld or delayed or made subject to unreasonable conditions).

		
	8.2
	The provisions of Clause ‎8.1 do not apply to:

		
	8.2.1
	any announcement relating to or connected with or arising out of this Agreement required to be made by any Party:

		
	(a)
	by virtue of the regulations of the US Securities and Exchange Commission; or

		
	(b)
	by any court or governmental or administrative authority competent to require the same; or

		
	8.2.2
	by any applicable law or regulation;

		
	8.2.3
	any statement or disclosure made in good faith by AD, the Buyer, the Company or any of the Subsidiaries after Completion for its legitimate corporate purposes, including in connection with any civil, criminal, regulatory or arbitration proceedings in any jurisdiction brought or threatened by or against it in relation to the Agreement, the documents in the Agreed Form and any other documents referred to in it or them;

		
	8.2.4
	any document, statement or disclosure published, issued or made by the Buyer, the Company or any of the Subsidiaries after Completion to any supplier to or customer of the Company or of any of the Subsidiaries;

		
	8.2.5
	any disclosure made by a Party to its professional advisers, provided that such disclosure is made under obligations of confidentiality; or

		
	8.2.6
	any document, statement or disclosure made by the Buyer after Completion to any person to whom it proposes to assign its rights under this Agreement or who is otherwise contemplated by Clause 12.

		
	9.
	SELLERS' REPRESENTATIVE

		
	9.1
	AD irrevocably and unconditionally appoints the Sellers' Representative (and any replacement Sellers' Representative from time to time) as her agent to negotiate, determine, agree and settle any dispute or matter between the Sellers (or any group of them) and the Buyer arising out of or in connection with this Agreement where this Agreement confers such responsibility on the Sellers' Representative. As the representative of AD under this Agreement and/or any Transaction Document, the Sellers' Representative shall act as the agent for AD, shall have authority to bind AD in accordance with this Agreement, and the Buyer may rely on such appointment and the Sellers’ Representative’s authority to bind AD until the receipt by the Buyer of notice of the appointment of a successor Sellers' Representative.

		
	9.2
	AD confirms that the Buyer may rely exclusively upon, without independent verification or investigation, all decisions, communications or writings made, given or executed by the Sellers' Representative in connection with this Agreement and/or any Transaction Document. The Buyer is entitled to deal exclusively with the Sellers' Representative on all matters relating to this Agreement and/or any Transaction Document and any action taken or not taken or decisions, communications or writings made, given or executed by the Sellers' Representative, for or on behalf of AD, shall be deemed an action taken or not taken or decisions, communications or writings made, given or executed by AD. Any notice or communication delivered by the Buyer to the Sellers' Representative shall be deemed to have been delivered to AD.  

		
	9.3
	Without limitation to his obligations under any other Transaction Document wherein the Sellers' Representative acts in a capacity other than his capacity as the Sellers' Representative, the Sellers' Representative shall have no liability to the Buyer for any default under this Agreement and/or any Transaction Document by any other Seller. Except for fraud, criminal activity, gross negligence or wilful misconduct in his capacity as Sellers' Representative on his part, the Sellers' Representative shall have no liability to any other Seller under this Agreement and/or under any Transaction Document for any action or omission by the Sellers' Representative on behalf of the other Sellers.

		
	9.4
	The Sellers' Representative shall be entitled to retain counsel and to incur such costs and expenses as the Sellers' Representative deems to be necessary or appropriate in connection with the performance of his obligations under this Agreement and the Sellers' Representative shall be reimbursed for all such costs and expenses (including reasonable attorneys' fees and expenses).

		
	9.5
	All of the immunities and powers granted to the Sellers' Representative under this Agreement shall survive the Completion Date and/or any termination of any Transaction Document.  The grant of authority provided for herein (i) is coupled with an interest and shall be irrevocable and survive the death, incompetency or bankruptcy of AD and (ii) shall survive Completion.

		
	9.6
	AD irrevocably appoints the Sellers' Representative to be his lawful attorney with full power, authority and legal right in her name and on her behalf to sign, execute or deliver any required stock transfer form in respect of the transfer of the AD Sale Shares under this Agreement.

		
	9.7
	AD hereby agrees to indemnify and hold the Sellers' Representative harmless from and against any and all liability, loss, cost, damage or expense (including without limitation professional fees) reasonably incurred or suffered as a result of the performance of the Sellers' Representative's duties under this Agreement except for any such liability arising out of the wilful misconduct of the Sellers' Representative.

		
	10.
	VOTING POWER OF ATTORNEY

		
	10.1
	AD appoints the Buyer (acting by its directors from time to time) as her attorney (“Attorney”), with full power to exercise all rights in relation to the AD Sale Shares as the Attorney in its absolute discretion sees fit, including but not limited to:

		
	10.1.1
	receiving notice of, attending and voting at any general meeting of the members of the Company, including meetings of the members of any particular class of member, and all or any adjournments of such meetings, or signing any resolution as registered holders of the AD Sale Shares;

		
	10.1.2
	completing and returning proxy cards (or equivalent), consent to short notice and any other documents required to be signed by the registered holder of the AD Sale Shares;

		
	10.1.3
	dealing with and giving directions as to any moneys, securities, benefits, documents, notices or other communications (in whatever form) arising by right of the AD Sale Shares or received in connection with the AD Sale Shares from the Company or any other person; and

		
	10.1.4
	otherwise executing, delivering and doing all deeds, instruments and acts in AD’s name insofar as may be done in the relevant capacity as registered holder of the AD Sale Shares.

		
	10.2
	This power of attorney shall be irrevocable, save with the consent of the Buyer, and is given by way of security to secure the proprietary interest of the Buyer as the buyer of the AD Sale Shares, but shall expire in respect of the AD Sale Shares on the date on which the Buyer and/or its nominee is or are entered in the register of members of the Company as holder(s) of the AD Sale Shares.

		
	11.
	INDEMNITY FOR LOST SHARE CERTIFICATES

		
	11.1
	AD confirms in respect of the AD Sale Shares that:

		
	11.1.1
	to the best of her knowledge the original certificate(s) of title to the AD Sale Shares has been lost or destroyed;

		
	11.1.2
	neither the AD Sale Shares nor the certificates of title to the AD Sale Shares have been transferred, charged, lent, deposited or dealt with in any way that may affect their title to the AD Sale Shares; and

		
	11.1.3
	she is the person entitled to be on the register of members of the Company in respect of the AD Sale Shares.

		
	11.2
	AD agrees in respect of the AD Sale Shares only to indemnify the Buyer and the Company from and against all claims, actions, proceedings and demands which may be brought against the Buyer or the Company and all losses, liabilities, charges, costs, damages and expenses which the Buyer or the Company may incur as a result of allowing the registration of the transfer of all or any part of such AD Sale Shares without the production of the original certificates.

		
	11.3
	AD covenants to return her original certificate if it is found and the indemnity given in this Clause 11 will continue in force even if the original certificate is returned.

		
	12.
	ASSIGNMENT

		
	12.1
	This Agreement shall be binding upon and enure for the benefit of the successors and assignees of the Parties including, in the case of individuals, their respective estates after their deaths and, subject to any succession or assignment permitted by this Agreement, any such successor or assignee of the Parties shall in its own right be able to enforce any term of this Agreement.

		
	12.2
	No Party to this Agreement nor their successors and assignees shall be entitled to assign their respective rights or obligations under this Agreement without the prior written consent of the Buyer (in the case of any of AD) or the Sellers' Representative (in the case of the Buyer).

		
	12.3
	The Buyer and its assignees may at any time (i) assign, (including to any lender of the Buyer or any lender to any Group Company of the Buyer and/or any administrative or collateral agent on behalf of any such lenders as collateral security) (ii) transfer, (iii) charge or otherwise grant security over or assign by way of security, (iv) declare or create a trust or other interest over or (v) deal in any other manner with the Buyer's rights under this Agreement, provided that the liability of AD as a result of any of the foregoing actions shall be no more than it would have been to the Buyer had such foregoing actions not taken place.

		
	13.
	NOTICES

		
	13.1
	Any notice or other communication to be given under this Agreement shall be in writing and shall be delivered personally or sent by post or email to the Party to be served at its address set out below:

		
	13.1.1
	to the Buyer at:

401 Congress Avenue 
Suite 1850 
Austin, TX 78701 
Email Address: kgill@uplandsoftware.com 
Marked for the attention of: General Counsel
With a copy (which shall not constitute notice) to:
Pillsbury Winthrop Shaw Pittman LLP 
401 Congress Avenue 
Suite 1700 
Austin, TX 78701
		
	13.1.2
	to AD, to the Sellers’ Representative at:

Roy Enright 
Email Address: roy.enright@w-c-p.com 
Address: 31 Waltham Terrace, Blackrock, Dublin, Ireland
With a copy to:
Colm Rafferty 
Email Address: Colm.Rafferty@maples.com 
Address: 75 St. Stephen's Green, Dublin 2, Ireland
or at any other address or email address or to any other addressee as it may have notified to the other Parties in accordance with this Clause 13.1.  Any notice or other document sent by post shall be sent by prepaid first class recorded delivery post (if within Ireland) or be prepaid/signed for airmail (if elsewhere).
		
	13.2
	Any such notice shall be deemed to have been received:

		
	13.2.1
	if delivered personally, at the time of delivery;

		
	13.2.2
	in the case of first class recorded delivery, 24 hours from the date of posting;

		
	13.2.3
	in the case of airmail, five days from the date of posting; and

		
	13.2.4
	in the case of email, at the time of delivery,

provided that if deemed receipt occurs before 9 am on a Business Day the notice shall be deemed to have been received at 9 am on that day, and if deemed receipt occurs after 5 pm on a Business Day, or on a day which is not a Business Day, the notice shall be deemed to have been received at 9 am on the next Business Day.  For the purpose of this Clause, “Business Day” means any day which is not a Saturday, a Sunday or a public holiday in the place at or to which the notice is left or sent.
		
	13.3
	In proving service of a notice or document it shall be sufficient to prove that delivery was made and recorded or that an email was properly addressed and despatched and the sender did not receive notification of a failure to deliver, as the case may be.

		
	14.
	GENERAL

		
	14.1
	Each Party undertakes, for no further consideration or payment but at the cost and expense of the requesting Party, to sign all documents and to do all other acts as the requesting Party reasonably requires which may be necessary to give full effect to this Agreement.

		
	14.2
	Each Party shall pay the costs and expenses incurred by it in connection with the negotiation, preparation, execution and carrying into effect of this Agreement and each document referred to in it.

		
	14.3
	This Agreement shall, as to any of its provisions remaining to be performed or capable of having or taking effect following Completion, remain in full force and effect notwithstanding Completion.

		
	14.4
	Unless expressly provided otherwise, all representations, warranties, undertakings, covenants, agreements and obligations made, given or entered into in this Agreement by more than one person are made, given or entered into severally.

		
	14.5
	The rights of each Party under this Agreement:

		
	14.5.1
	may be exercised as often as necessary;

		
	14.5.2
	are cumulative and not exclusive of rights or remedies provided by law; and

		
	14.5.3
	may be delayed, released or waived only in writing and specifically.

		
	14.6
	Delay in the exercise or non-exercise of any right or remedy provided by this Agreement or by law is not a waiver of that right or remedy.

		
	14.7
	A waiver of a breach of any of the terms of this Agreement or a default under this Agreement does not constitute a waiver of any other breach or default and shall not affect the other terms of this Agreement.

		
	14.8
	Any amendment of this Agreement shall not be binding on the Parties unless set out in writing, expressed to amend this Agreement and signed by authorised representatives of the Buyer and the Sellers’ Representative.

		
	14.9
	The provisions contained in each Clause and paragraph of this Agreement shall be enforceable independently of each of the others and their validity or enforceability shall not be affected if any of the others is invalid or unenforceable by reason of any provision of applicable law.

		
	14.10
	If any provision is invalid or unenforceable but would be valid or enforceable if some part of the provision were deleted or modified, the provision in question shall apply with such modification as may be necessary to make it valid and enforceable.

		
	14.11
	This Agreement may be executed in any number of counterparts, and by the Parties on separate counterparts, each of which, when executed and delivered, shall constitute one and the same instrument. Delivery of an executed signature page of a counterpart facsimile transmission or in AdobeTM Portable Document Format (PDF) sent by electronic mail shall take effect on delivery of an executed counterpart of this Agreement.

		
	15.
	ENTIRE AGREEMENT

		
	15.1
	For the purposes of this Clause, “Pre-Contractual Statement” means any undertaking, promise, assurance, statement, representation, warranty or understanding (whether in writing or not) of any person (whether party to this Agreement or not) relating to the subject matter of this Agreement other than as expressly set out in this Agreement.

		
	15.2
	The Parties confirm that this Agreement and any document in the Agreed Form represents the entire understanding, and constitutes the entire agreement of the Parties in relation to its subject matter and its terms and supersedes any previous agreement between the Parties relating to the subject matter or the terms of this Agreement.

		
	15.3
	Each of the Parties acknowledges and agrees that in entering into this Agreement it has not relied on any Pre-Contractual Statement. 

		
	15.4
	Each of the Parties acknowledges and agrees that the only remedy available to it for breach of this Agreement shall be for breach of contract and it shall have no right of action against any other Party in respect of any Pre-Contractual Statement and, for the avoidance of doubt, no Party will have a right to seek the rescission of this Agreement. 

		
	15.5
	This Clause ‎15 shall exclude liability for misrepresentation save that it shall not exclude any liability for (or remedy in respect of) fraudulent misrepresentation.

		
	16.
	GOVERNING LAW AND JURISDICTION

		
	16.1
	This Agreement and any non-contractual obligations arising out of or in connection with this Agreement including its formation is governed by and shall be construed in accordance with the law of Ireland.

		
	16.2
	Each Party irrevocably agrees to submit to the exclusive jurisdiction of the courts of Ireland over any claim, dispute or controversy (whether contractual or non-contractual) arising under or in connection with this Agreement or the legal relationships established by this Agreement (including its formation).

		
	16.3
	Each Party irrevocably consents to any process in any legal action or proceedings arising out of or in connection with this Agreement being served on it in accordance with the provisions of this Agreement relating to service of notices by mail. Nothing contained in this Agreement shall affect the right to serve process in any other manner permitted by law. 

EXECUTED AND DELIVERED AS A DEED on the date set out at the head of this Agreement.

iii

	
				
	EXECUTED and DELIVERED as a DEED by ÁINE DENN:
	) 
) 
)
	By her lawfully appointed attorney

/s/ Donal Daly                

	in the presence of:
	 
	

/s/ Jim Crisera                
Witness

	Witness name:
Witness address:
Witness occupation:
	 
	Jim Crisera__________________
________________________________
President/C.F.O_____________

iv

	
						
	EXECUTED and DELIVERED as a DEED by 
POWERSTEERING SOFTWARE LIMITED acting by its attorney KIN GILL                under a power of attorney dated 17 April 2019
	) 
) 
)
	

/s/ Kin Gill                
Signature
	 

	in the presence of:
	 
	

/s/ Stephanie J. Deadmon                
Witness

	Witness name:
Witness address:
Witness occupation:
	 
	/s/ Stephanie J. Deadmon___________
________________________________
Paralegal________________

	 
	 
	 

v

	
						
	EXECUTED and DELIVERED as a DEED by ROY ENRIGHT:
	) 
) 
)
	

/s/ Roy Enright                

	in the presence of:
	 
	

/s/ James Reidy                
Witness

	Witness name:
Witness address:
Witness occupation:
	 
	James Reidy_____________________
________________________________
Solicitor________________________

	 
	 
	 

viEX-10.9

 Exhibit 10.9 

BELLRING BRANDS, INC. 

2019 LONG-TERM INCENTIVE PLAN 

1.       Establishment and Purpose. BellRing Brands, Inc. hereby establishes, effective September 30, 2019, an
incentive compensation plan known as the “BellRing Brands, Inc. 2019 Long-Term Incentive Plan.” The purpose of the Plan is to attract, retain, and motivate Participants (as defined herein) by offering such individuals opportunities to
realize stock price appreciation, by facilitating stock ownership and/or by rewarding them for achieving a high level of performance. 

2.       Definitions. The capitalized terms used in this Plan have the meanings set forth below. 

(a)    “Affiliate” means any corporation that is a Subsidiary of the Company and, for purposes other than the
grant of Incentive Stock Options, any limited liability company, partnership, corporation, joint venture or any other entity in which the Company or any such Subsidiary owns an equity interest. For the avoidance of doubt, the ownership referred to
in the preceding sentence includes direct and indirect ownership. 
 (b)    “Agreement” means a written
agreement, contract, certificate or other instrument or document (which may be transmitted electronically to any Participant) evidencing the terms and conditions of an Award in such form (not inconsistent with this Plan) as the Committee approves
from time to time, together with all amendments thereof, which amendments may be made unilaterally by the Company (with the approval of the Committee) unless such amendments are deemed by the Committee to be materially adverse to the Participant and
not required as a matter of law. 
 (c)    “Associate” means any service provider (including any employee,
director, manager, consultant or advisor) to the Company or an Affiliate. References in this Plan to “employment” and related terms (except for references to “employee” in this definition of “Associate” or in
Section 7(a)(i)) shall also include the providing of services as a service provider to the Company or an Affiliate who is not an employee of the Company or an Affiliate. 

(d)    “Award” means a grant made under this Plan in the form of Options, Stock Appreciation Rights, Restricted
Stock, Restricted Stock Units, Performance Shares or any Other Award, whether singly, in combination or in tandem. 

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

(f)    “Cause” shall have the meaning ascribed to such term in the Agreement. 

(g)    “Change in Control” means, except as otherwise provided in an Agreement, any of the following: 

(i)    Individuals who constitute the Incumbent Board cease for any reason to constitute at least a majority of the Board.

 (ii)    An individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act)
directly or indirectly acquires or beneficially owns (as defined in Rule 13d-3 under the Exchange Act, or any successor rule thereto) (in each case, together with such individual’s, entity’s or
group’s prior ownership of the Company) the right to direct the vote with respect to more than 50% of the combined voting power of the then outstanding securities of the Company entitled to vote generally in the election of directors
(“Voting Control”), provided, however, that the following acquisitions and beneficial ownership shall not constitute a Change in Control pursuant to this paragraph 2(g)(ii); 

(A)    any direct or indirect acquisition or beneficial ownership by the Company, Post Holdings, Inc. or
any of its and their Subsidiaries, 

  
 1 

 (B)    the direct or indirect acquisition or beneficial
ownership of additional securities of the Company entitled to vote generally in the election of directors or of the right to direct the vote of such securities by an individual, entity or group who already beneficially owns Voting Control, or 

(C)    any acquisition or beneficial ownership by any employee benefit plan (or related trust) sponsored or
maintained by the Company or one of more of its Subsidiaries. 
 (iii)    Consummation of a reorganization, merger,
share exchange or consolidation (a “Business Combination”), unless in each case following such Business Combination: 

(A)    all or substantially all of the individuals, entities or groups who were the beneficial owners of
Voting Control immediately prior to such Business Combination beneficially own, directly or indirectly, the right to direct the vote with respect to more than 50% of the combined voting power of the then outstanding securities entitled to vote
generally in the election of directors or other governing body, as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company through one
or more subsidiaries); 
 (B)    no individual, entity or group (excluding any employee benefit plan (or
related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, the right to direct the vote with respect to more than 50% of the combined voting power of the then outstanding
securities of such corporation entitled to vote generally in the election of directors or other governing body, as the case may be, of the entity resulting from such Business Combination, except to the extent that such individual, entity or group
beneficially owned Voting Control prior to the Business Combination; and 
 (C)    at least a majority of
the members of the board of directors or other governing body of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, approving
such Business Combination. 
 (iv)    The Company shall sell or otherwise dispose of all or substantially all of the
assets of the Company (in one transaction or a series of transactions). 
 (v)    The stockholders of the Company shall
approve a plan to liquidate or dissolve the Company and the Company shall commence such liquidation or dissolution of the Company. 

Notwithstanding the foregoing, any direct or indirect spin-off,
split-off or similar transaction involving Company securities by any stockholder of the Company to the stockholder’s stockholders shall not constitute a Change in Control. Notwithstanding anything herein
to the contrary, an event described herein shall be considered a Change in Control hereunder only if it also constitutes a “change in control event” under Section 409A of the Code, to the extent necessary to avoid the adverse tax
consequences thereunder. 
 (h)     “Code” means the Internal Revenue Code of 1986, as amended and in effect
from time to time, or any successor statute. Any reference to a section of the Code shall be deemed to include a reference to any regulations promulgated thereunder. 

(i)    “Committee” means the committee of directors appointed by the Board to administer this Plan. In the
absence of a specific appointment, “Committee” shall mean the compensation committee of the Board. 

  
 2 

 (j)    “Company” means BellRing Brands, Inc., a Delaware
corporation, or any successor to all or substantially all of its businesses by merger, consolidation, purchase of assets or otherwise. 

(k)    “Disability” means, except as otherwise provided in an Agreement, that the Participant 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 which has lasted or can be expected to last for a continuous period of not less than 12
months, provided, however, for purposes of determining the Term of an Incentive Stock Option, the term Disability shall have the meaning ascribed to it under Section 22(e)(3) of the Code. Whether an individual has a Disability shall be
determined under procedures established by the Committee. Except in situations where the Committee is determining Disability for purposes of the Term of an Incentive Stock Option within the meaning of Section 22(e)(3) of the Code, the Committee
may rely on any determination that a Participant is disabled for purposes of benefits under any long-term disability plan maintained by the Company or any Affiliate in which a Participant participates, provided that the definition of disability
applied under such disability plan meets the requirements of a Disability in the first sentence hereof. 

(l)    “Exchange Act” means the Securities Exchange Act of 1934, as amended; “Exchange Act Rule 16b-3” means Rule 16b-3 promulgated by the Securities and Exchange Commission under the Exchange Act or any successor regulation. 

(m)    “Fair Market Value” as of any date means, unless otherwise expressly provided in this Plan: 

(i)    (A) the closing sales price of a Share on the composite tape for New York Stock Exchange (“NYSE”) listed
shares, or if Shares are not quoted on the composite tape for NYSE listed shares, on the Nasdaq Global Select Market or any similar system then in use, or (B) if clause (i)(A) is not applicable, the mean between the closing “bid” and
the closing “asked” quotation of a Share on the Nasdaq Global Select Market or any similar system then in use, or (C) if the Shares are not quoted on the NYSE composite tape or the Nasdaq Global Select Market or any similar system
then in use, the closing sale price of a Share on the principal United States securities exchange registered under the Exchange Act on which the Shares are listed, in any case on the specified date, or, if no sale of Shares shall have occurred on
that date, on the immediately preceding day on which a sale of Shares occurred, or 
 (ii)    if clause (i) is not
applicable, what the Committee determines in good faith to be 100% of the fair market value of a Share on that date. 
 In the case of any
Option or Stock Appreciation Right, the determination of Fair Market Value shall be done in a manner consistent with the then current regulations of the Secretary of the Treasury. The determination of Fair Market Value shall be subject to adjustment
as provided in Section 12(f) hereof. 
 (n)    “Good Reason” means, except as otherwise provided in an
Agreement, the occurrence of one or more of the following, which circumstances are not remedied by the Company within thirty (30) days after its receipt of a written notice from the Participant describing the applicable circumstances (which
notice must be provided by the Participant within ninety (90) days after the Participant’s knowledge of the applicable circumstances): (i) a material diminution in a Participant’s duties and responsibilities, (ii) a material
decrease in a Participant’s base salary or bonus opportunity or (iii) a geographical relocation of the Participant’s principal office location by more than fifty (50) miles, in each case, without written consent; provided that in
each case, the Participant must actually terminate his or her employment within thirty (30) days following the Company’s thirty (30)-day cure period specified herein. 

(o)    “Incentive Stock Option” means any Option designated as such and granted in accordance with the
requirements of Section 422 of the Code, or any successor to such section. 
 (p)    “Incumbent Board”
means the group of directors consisting of (i) those individuals who, as of the effective date of the Plan, constituted the Board; and (ii) any individuals who become directors subsequent to such effective

  
 3 

 
date whose appointment, election or nomination for election by the stockholders of the Company was approved by a vote of at least a majority of the directors then comprising the Incumbent Board.
The Incumbent Board shall exclude any individual whose initial assumption of office occurred (i) as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened
solicitation of proxies or consents by or on behalf of an individual, entity or group (other than a solicitation of proxies by the Incumbent Board) or (ii) with the approval of the Incumbent Board but by reason of any agreement intended to
avoid or settle a proxy contest. 
 (q)    “Non-Employee Director”
means a member of the Board who is a “non-employee director,” as defined by Exchange Act Rule 16b-3. 

(r)    “Non-Qualified Stock Option” means an Option other than an
Incentive Stock Option. 
 (s)    “Option” means a right to purchase Stock (or, if the Committee so provides
in an applicable Agreement, Restricted Stock), including both Non-Qualified Stock Options and Incentive Stock Options granted under Section 7 hereof. 

(t)    “Other Award” means an Award of Stock, an Award based on Stock other than Options, Stock Appreciation
Rights, Restricted Stock, Restricted Stock Units or Performance Shares, or a cash-based Award granted under Section 11 hereof. 

(u)    “Parent” means a “parent,” within the meaning of Rule 405 under the Securities Act, or any
successor provision. 
 (v)    “Participant” means an Associate to whom an Award is granted pursuant to the
Plan or, if applicable, such other person who validly holds an outstanding Award. 
 (w)    “Performance
Criteria” means performance goals relating to certain criteria as further described in Section 9 hereof. 

(x)    “Performance Period” means one or more periods of time, as the Committee may select, over which the
attainment of one or more performance goals (including Performance Criteria) will be measured for the purpose of determining which Awards, if any, are to vest or be earned. 

(y)    “Performance Shares” means a contingent award of a specified number of Performance Shares or Units
granted under Section 9 hereof, with each Performance Share equivalent to one or more Shares or a fractional Share or a Unit expressed in terms of one or more Shares or a fractional Share, as specified in the applicable Agreement, a variable
percentage of which may vest or be earned depending upon the extent of achievement of specified performance objectives during the applicable Performance Period. 

(z)    “Plan” means this 2019 Long-Term Incentive Plan, as amended and in effect from time to time. 

(aa)    “Restricted Stock” means Stock granted under Section 10 hereof so long as such Stock remains
subject to one or more restrictions. 
 (bb)    “Restricted Stock Units” means Units of Stock granted under
Section 10 hereof. 
 (cc)    “Securities Act” means the Securities Act of 1933, as amended. 

(dd)    “Share” means a share of Stock. 

  
 4 

 (ee)    “Stock” means the Company’s Class A common
stock, $0.01 par value per share (as such par value may be adjusted from time to time), or any securities issued in respect thereof by the Company or any successor to the Company as a result of an event described in Section 12(f). 

(ff)    “Stock Appreciation Right” means a right, the value of which is determined relative to appreciation in
value of Shares pursuant to an Award granted under Section 8 hereof. 
 (gg)    “Subsidiary” means a
“subsidiary,” within the meaning of Rule 405 under the Securities Act, or any successor provision. 

(hh)    “Successor” with respect to a Participant means, except as otherwise provided in an Agreement, the legal
representative of an incompetent Participant and, if the Participant is deceased, the legal representative of the estate of the Participant or the person or persons who may, by bequest or inheritance, or under the terms of an Award or forms
submitted by the Participant to the Committee under Section 12(h) hereof, acquire the right to exercise an Option or Stock Appreciation Right or receive cash and/or Shares issuable in satisfaction of an Award in the event of a
Participant’s death. 
 (ii)    “Term” means the period during which an Option or Stock Appreciation
Right may be exercised or the period during which the restrictions placed on Restricted Stock or any other Award are in effect. 

(jj)    “Unit” means a bookkeeping entry that may be used by the Company to record and account for the grant of
Stock, Units of Stock, Stock Appreciation Rights and Performance Shares expressed in terms of Units of Stock until such time as the Award is paid, canceled, forfeited or terminated. No Shares will be issued at the time of grant, and the Company will
not be required to set aside a fund for the payment of any such Award. 
 Except when otherwise indicated by the context, reference to the
masculine gender shall include, when used, the feminine gender and any term used in the singular shall also include the plural. 
  

	3.	 Administration. 

(a)    Authority of Committee. The Committee shall administer this Plan or delegate its authority to do so as
provided herein or, in the Board’s sole discretion or in the absence of the Committee, the Board shall administer this Plan. Subject to the terms of the Plan, the Committee’s charter and applicable laws, and in addition to other express
powers and authorization conferred by the Plan, the Committee shall have the authority: 
 (i)    to construe and
interpret the Plan and apply its provisions; 
 (ii)    to promulgate, amend and rescind rules and regulations relating
to the administration of the Plan; 
 (iii)    to authorize any person to execute, on behalf of the Company, any
instrument required to carry out the purposes of the Plan; 
 (iv)    to determine when Awards are to be granted under
the Plan and the applicable grant date; 
 (v)    from time to time to select, subject to the limitations set forth in
this Plan, those Participants to whom Awards shall be granted; 
 (vi)    to determine the number of Shares or the
amount of cash to be made subject to each Award, subject to the limitations set forth in this Plan; 

  
 5 

 (vii)    to determine whether each Option is to be an Incentive Stock
Option or a Non-Qualified Stock Option; 
 (viii)    to prescribe the terms and
conditions of each Award, including, without limitation, the exercise price and medium of payment and vesting provisions, and to specify the provisions of the Agreement relating to such grant; 

(ix)    to determine the target number of Performance Shares to be granted pursuant to an Award of Performance Shares, the
performance measures that will be used to establish the performance goals (including Performance Criteria), the performance period(s) and the number of Performance Shares earned by a Participant; 

(x)    to designate an Award (including a cash bonus) as a performance compensation Award and to select the performance
criteria that will be used to establish the performance goals (including Performance Criteria); 
 (xi)    to amend any
outstanding Awards; provided, however, that if the Committee deems any such amendment to be materially adverse to a Participant, such amendment shall also be subject to the Participant’s consent, unless such amendment is required by law; 

(xii)    to determine whether, to what extent and under what circumstances Awards may be settled, paid or exercised in
cash, Shares or other Awards or other property, or canceled, forfeited or suspended; 
 (xiii)    to determine the
duration and purpose of leaves and absences which may be granted to a Participant without constituting termination of employment for purposes of the Plan; 

(xiv)    to make decisions with respect to outstanding Awards that may become necessary upon a change in corporate control
or an event that triggers anti-dilution adjustments; 
 (xv)    to interpret, administer or reconcile any inconsistency
in, correct any defect in and/or supply any omission in the Plan and any instrument or agreement relating to, or Award granted under, the Plan; and 

(xvi)    to exercise discretion to make any and all other determinations which it determines to be necessary or advisable
for the administration of the Plan. 
 Notwithstanding the foregoing, in administering this Plan with respect to Awards for Non-Employee Directors, the Board shall exercise the powers of the Committee. To the extent the Committee determines that the restrictions imposed by this Plan preclude the achievement of material purposes of the
Awards in jurisdictions outside of the United States, the Committee has the authority and discretion to modify those restrictions as the Committee determines to be necessary or appropriate to conform to applicable requirements or practices of
jurisdictions outside of the United States. 
 The Committee shall not have the right, without stockholder approval, to (i) reduce or
decrease the purchase price for an outstanding Option or Stock Appreciation Right, (ii) cancel an outstanding Option or Stock Appreciation Right for the purpose of replacing or re-granting such Option or
Stock Appreciation Right with a purchase price that is less than the original purchase price, (iii) extend the Term of an Option or Stock Appreciation Right or (iv) deliver stock, cash or other consideration in exchange for the
cancellation of an Option or Stock Appreciation Right, the purchase price of which exceeds the Fair Market Value of the Shares underlying such Option or Stock Appreciation Right. 

All decisions made by the Committee pursuant to the provisions of the Plan shall be final and binding on the Company and the Participants,
unless such decisions are determined by a court having jurisdiction to be arbitrary and capricious. 

(b)    Delegation. The Committee, or if no Committee has been appointed, the Board, may delegate all or any part of
the administration of the Plan to one or more committees of one or more members of the Board, or to senior officers 

  
 6 

 
of the Company, and may authorize further delegation by such committees to senior officers of the Company, in each case, to the extent permitted by Delaware law and subject to the
Committee’s charter; provided that, determinations regarding the timing, pricing, amount and terms of any Award to a “reporting person” for purposes of Section 16 of the Exchange Act shall be made only by the Committee; and
provided further that subject to Section 3(e) no such delegation may be made that would cause Awards or other transactions under this Plan to cease to be exempt from Section 16(b) of the Exchange Act or cause an Award intended to qualify
for favorable treatment under the Code or any other applicable law not to qualify for, or to cease to qualify for, such favorable treatment. Any such delegation may be revoked by the Committee at any time. The term “Committee” shall apply
to any person or persons to whom such authority has been delegated. The Board may abolish, suspend or supersede the Committee at any time and revest in the Board the administration of the Plan. The members of the Committee shall be appointed by and
serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee, add additional members to, remove members (with or without cause) from, appoint new members in substitution therefor and fill
vacancies, however caused, in the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in the case of a Committee comprised of only two members, the unanimous consent of its members, whether present or not, or by
the written consent of the majority of its members, and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board. Subject to the limitations prescribed by the Plan and the Board, the Committee may establish and
follow such rules and regulations for the conduct of its business as it may determine to be advisable. 

(c)    Board Authority. Any authority granted to the Committee may also be exercised by the Board or another
committee of the Board, except to the extent that the grant or exercise of such authority would cause any Award intended to qualify for favorable treatment under the Code or other applicable law to not qualify for, or cease to qualify for, such
favorable treatment. To the extent that any permitted action taken by the Board conflicts with action taken by the Committee, the Board action shall control. Without limiting the generality of the foregoing, to the extent the Board has delegated any
authority under this Plan to another committee of the Board, such authority shall not be exercised by the Committee unless expressly permitted by the Board in connection with such delegation. 

(d)    Awards for Non-Employee Directors. The Board (which may delegate the
determination to a committee of the Board) may from time to time determine that each individual who is elected or appointed to the office of director as a Non-Employee Director receive an Award (other than
Incentive Stock Options) as compensation, in whole or in part, for such individual’s services as a director. In determining the level and terms of such Awards for Non-Employee Directors, the Board may
consider such factors as compensation practices of comparable companies with respect to directors, consultants’ recommendations and such other information as the Board may deem appropriate. 

(e)    Committee Composition. The Board shall have discretion to determine whether or not it intends to comply with
the exemption requirements of Exchange Act Rule 16b-3, the Code or other applicable law. Nothing herein shall create an inference that an Award is not validly granted under the Plan in the event Awards are
granted under the Plan by a committee of the Board that does not at all times consist solely of two or more Non-Employee Directors. 
  

	4.	 Shares Available; Maximum Payouts. 

(a)    Shares Available. Subject to adjustment in accordance with Section 12(f) and subject to
Section 4(b), the total number of Shares available for the grant of Awards under the Plan shall be 2,000,000 Shares. No more than a maximum aggregate of 2,000,000 Shares may be granted as Incentive Stock Options. Stock Options, Stock
Appreciation Rights and Restricted Stock awarded, and Awards of Restricted Stock Units, Performance Shares and Other Awards settled in Shares awarded, shall reduce the number of Shares available for Awards by one Share for every one Share subject to
such Award. Shares issued under this Plan may be authorized and unissued shares or issued shares held as treasury shares. Any Shares that again become available for future grants pursuant to Section 4 shall be added back as one Share. The
following Shares may not again be made available for issuance as Awards: (i) Shares not issued or delivered as a result of the net settlement of an outstanding Stock Appreciation Right or Stock Option; (ii) Shares used to pay the exercise
price or withholding taxes related to an outstanding Award; or (iii) Shares repurchased on the open market with the proceeds of a Stock Option exercise price. 

  
 7 

 (b)    Shares Not Applied to Limitations. The following will not
be applied to the Share limitations of subsection 4(a) above: (i) any Shares subject to an Award under the Plan to the extent to which such Award is forfeited, cancelled, terminated, expires or lapses for any reason; and (ii) Shares and
any Awards that are granted through the settlement, assumption or substitution of outstanding awards previously granted (subject to applicable repricing restrictions herein), or through obligations to grant future awards, as a result of a merger,
consolidation or acquisition of the employing company with or by the Company. If an Award is settled in cash, the number of Shares on which the Award is based shall not be applied to the Share limitations of subsection 4(a). 

(c)    Award Limitations. 

(i)    No Participant shall be granted (A) Options to purchase Shares and Stock Appreciation Rights with respect to
more than 2,000,000 Shares in the aggregate, (B) any other Awards with respect to more than 2,000,000 Shares in the aggregate (or, in the event such Award denominated or expressed in terms of number of Shares or Units is paid in cash, the
equivalent cash value thereof) or (C) any cash bonus Awards not denominated or expressed in terms of number of Shares or Units with a value that exceeds ten million (10,000,000) dollars in the aggregate, in each case, in any twelve-month period
under this Plan (such share limits being subject to adjustment under Section 12(f) hereof). 

(ii)    Notwithstanding the foregoing, in no event shall the aggregate grant date fair value (computed as of the date of
grant in accordance with applicable financial accounting rules) of all Awards granted to any single Non-Employee Director during any single calendar year, taken together with any retainers payable to such
person during such calendar year, exceed $500,000 (or, for a non-employee Chairperson of the Board, $700,000). 

(d)    No Fractional Shares. No fractional Shares may be issued under this Plan; fractional Shares will be rounded
down to the nearest whole Share. 
 5.    Eligibility. Awards may be granted under this Plan to any Associate at the
discretion of the Committee. 
  

	6.	 General Terms of Awards. 

(a)    Awards. Awards under this Plan may consist of Options (either Incentive Stock Options or Non-Qualified Stock Options), Stock Appreciation Rights, Performance Shares, Restricted Stock, Restricted Stock Units or Other Awards. 

(b)    Amount of Awards. Each Agreement shall set forth the number of Shares of Restricted Stock, Stock, Units of
Stock or Performance Shares, or the amount of cash, subject to such Agreement, or the number of Shares to which the Option applies or with respect to which payment upon the exercise of the Stock Appreciation Right is to be determined, as the case
may be, together with such other terms and conditions applicable to the Award (not inconsistent with this Plan) as determined by the Committee in its sole discretion. 

(c)    Term. Each Agreement, other than those relating solely to Awards of Stock without restrictions, shall set
forth the Term of the Award and any applicable Performance Period, as the case may be, but in no event shall the Term of an Award or the Performance Period be longer than ten (10) years after the date of grant; provided, however, that the
Committee may, in its discretion, grant Awards with a longer term to Participants who are located outside the United States. An Agreement with a Participant may permit acceleration of vesting requirements and of the expiration of the applicable Term
upon such terms and conditions as shall be set forth in the Agreement, which may, but, unless otherwise specifically provided in this Plan, need not, include, without limitation, acceleration resulting from the occurrence of the Participant’s
death or Disability. Acceleration of the Performance Period of Performance Shares and other performance-based Awards shall be subject to Section 12(f) hereof, as applicable. 

  
 8 

 (d)    Agreements. Each Award under this Plan shall be evidenced
by an Agreement setting forth the terms and conditions, as determined by the Committee, that shall apply to such Award, in addition to the terms and conditions specified in this Plan. 

(e)    Transferability. Except as otherwise permitted by the Committee, during the lifetime of a Participant to
whom an Award is granted, only such Participant (or such Participant’s legal representative) may exercise an Option or Stock Appreciation Right or receive payment with respect to any other Award. Except as may be permitted by the Company in the
case of a transfer not for value, no Award of Restricted Stock (prior to the expiration of the restrictions), Restricted Stock Units, Options, Stock Appreciation Rights, Performance Shares or Other Award (other than an award of Stock without
restrictions) may be sold, assigned, transferred, exchanged or otherwise encumbered, and any attempt to do so (including pursuant to a decree of divorce or any judicial declaration of property division) shall be of no effect. Notwithstanding the
immediately preceding sentence, an Agreement may provide that an Award shall be transferable to a Successor in the event of a Participant’s death. 

(f)    Termination of Employment. Each Agreement shall set forth the extent to which the Participant shall have the
right to exercise and/or retain an Award following termination of the Participant’s service with the Company or its Affiliates, including, without limitation, upon death or Disability or other termination of employment. Such provisions shall be
determined in the sole discretion of the Committee, shall be included in the Agreement, need not be uniform among Agreements issued pursuant to this Plan, and may reflect distinctions based on the reasons for termination. 

(g)    Change in Control. In the event the Participant ceases to be employed with the Company, either as a result
of a termination by the Company without Cause or by the Participant for Good Reason, in connection with a Change in Control: 

(i)    All Options and Stock Appreciation Rights shall become immediately exercisable with respect to 100% of the Shares
subject to such Options or Stock Appreciation Rights, and/or the period of restriction shall expire and the Award shall vest immediately with respect to 100% of the Shares of Restricted Stock, Restricted Stock Units and any other Award; 

(ii)    The Agreement will specify that, with respect to performance-based awards, all performance goals (including
Performance Criteria) or other vesting criteria will be either (A) deemed achieved at 100% target levels and adjusted pro-rata based on the applicable portion of the performance period which has passed,
(B) vested based upon actual performance levels or (C) the greater of (A) or (B); and 
 (iii)    all
other terms and conditions will be deemed met. 
 (h)    Rights as Stockholder. A Participant shall have no right
as a stockholder with respect to any securities covered by an Award until the date the Participant becomes the holder of record. 

(i)    Performance Goals. The Committee may require the satisfaction of certain performance goals (including
Performance Criteria) as a condition to the grant, vesting or payment of any Award provided under the Plan. 
  

	7.	 Stock Options. 

(a)    Terms of All Options. 

(i) Grants. Each Option shall be granted pursuant to an Agreement as either an Incentive Stock Option or a Non-Qualified Stock Option.
Incentive Stock Options may only be granted to Associates who are employees of the Company or an Affiliate in accordance with the requirements of Section 422 of the Code. Only Non-Qualified Stock Options may be granted to Associates who are not
employees of the Company or an Affiliate. In no event may Options known as reload options be granted hereunder. The provisions of separate Options need not be identical. Except as 

  
 9 

 
provided by Section 12(f), Participants holding Options shall have no dividend rights with respect to Shares subject to such Options. The Company shall have no liability to any Participant
or any other person if an Option designated as an Incentive Stock Option fails to qualify as such at any time. 

(ii)    Purchase Price. The purchase price of each Share subject to an Option shall be determined by the Committee
and set forth in the applicable Agreement, but shall not be less than 100% of the Fair Market Value of a Share as of the date the Option is granted. The purchase price of the Shares with respect to which an Option is exercised shall be payable in
full at the time of exercise. The purchase price may be paid in cash or, if the Committee so permits and upon such terms as the Committee shall approve, through delivery or tender to the Company of Shares held, either actually or by attestation, by
such Participant (in each case, such Shares having a Fair Market Value as of the date the Option is exercised equal to the purchase price of the Shares being purchased pursuant to the Option) or through a net or cashless form of exercise as
permitted by the Committee, or, if the Committee so permits, a combination thereof, unless otherwise provided in the Agreement. Further, the Committee, in its discretion, may approve other methods or forms of payment of the purchase price, and
establish rules and procedures therefor. 
 (iii)    Exercisability. Each Option shall vest and be exercisable in
whole or in part on the terms and for the duration provided in the Agreement. In no event shall any Option be exercisable at any time after its Term. When an Option is no longer exercisable, it shall be deemed to have lapsed or terminated. No Option
may be exercised for a fraction of a Share. 
 (b)    Incentive Stock Options. In addition to the other terms and
conditions applicable to all Options: 
 (i)    the aggregate Fair Market Value (determined as of the date the Option is
granted) of the Shares with respect to which Incentive Stock Options held by an individual first become exercisable in any calendar year (under this Plan and all other incentive stock option plans of the Company and its Affiliates) shall not exceed
$100,000 (or such other limit as may be required by the Code), if such limitation is necessary to qualify the Option as an Incentive Stock Option, and to the extent an Option granted to a Participant exceeds such limit, such Option shall be treated
as a Non-Qualified Stock Option; 
 (ii)    an Incentive Stock Option shall not
be exercisable and the Term of the Award shall not be more than ten (10) years after the date of grant (or such other limit as may be required by the Code) if such limitation is necessary to qualify the Option as an Incentive Stock Option; 

(iii)    the Agreement covering an Incentive Stock Option shall contain such other terms and provisions which the
Committee determines necessary to qualify such Option as an Incentive Stock Option; and 
 (iv)    notwithstanding any
other provision of this Plan, if, at the time an Incentive Stock Option is granted, the Participant owns (after application of the rules contained in Section 424(d) of the Code, or its successor provision) Shares possessing more than ten
percent of the total combined voting power of all classes of stock of the Company or its subsidiaries, (A) the option price for such Incentive Stock Option shall be at least 110% of the Fair Market Value of the Shares subject to such Incentive
Stock Option on the date of grant, and (B) such Option shall not be exercisable after the date five (5) years from the date such Incentive Stock Option is granted. 
  

	8.	 Stock Appreciation Rights. 

(a)    Grant. An Award of a Stock Appreciation Right shall entitle the Participant, subject to terms and conditions
determined by the Committee, to receive upon exercise of the Stock Appreciation Right all or a portion of the excess of (i) the Fair Market Value of a specified number of Shares as of the date of exercise of the Stock Appreciation Right over (ii) a
specified price which shall not be less than 100% of the Fair Market Value of such Shares as of the date of grant of the Stock Appreciation Right (“purchase price”). Each Stock Appreciation Right may be exercisable in whole or

  
 10 

 
in part on and otherwise subject to the terms provided in the applicable Agreement. No Stock Appreciation Right shall be exercisable at any time after its Term. When a Stock Appreciation Right is
no longer exercisable, it shall be deemed to have lapsed or terminated. Except as otherwise provided in the applicable Agreement, upon exercise of a Stock Appreciation Right, payment to the Participant (or to his or her Successor) shall be made in
the form of cash, Stock or a combination of cash and Stock (as determined by the Committee if not otherwise specified in the Award) as promptly as practicable after such exercise. The Agreement may provide for a limitation upon the amount or
percentage of the total appreciation on which payment (whether in cash and/or Stock) may be made in the event of the exercise of a Stock Appreciation Right. Except as provided by Section 12(f), Participants holding Stock Appreciation Rights
shall have no dividend rights with respect to Shares subject to such Stock Appreciation Rights. 

(b)    Exercisability. Each Stock Appreciation Right shall vest and be exercisable in whole or in part on the terms
provided in the Agreement. In no event shall any Stock Appreciation Right be exercisable at any time after its Term. When a Stock Appreciation Right is no longer exercisable, it shall be deemed to have lapsed or terminated. No Stock Appreciation
Right may be exercised for a fraction of a Share. 
  

	9.	 Performance Shares and other Awards Subject to Performance Criteria. 

(a)    Initial Award. An Award of Performance Shares shall entitle a Participant to future payments based upon the
achievement of performance goals (including Performance Criteria) established in writing by the Committee and denominated in Stock. Payment shall be made in cash or Stock, or a combination of cash and Stock, as determined by the Committee. Such
performance goals and other terms and conditions shall be determined by the Committee in its sole discretion. The Agreement may establish that a portion of the maximum amount of a Participant’s Award will be paid for performance which exceeds
the minimum target but falls below the maximum target applicable to such Award. The Agreement shall also provide for the timing of such payment. 

(b)    Vesting. An Award subject to this Section 9 shall vest or be earned on the terms provided in the
Agreement. 
 (c)    Valuation. To the extent that payment of a Performance Share is made in cash, a Performance
Share earned after conclusion of a Performance Period shall have a value equal to the Fair Market Value of a Share on the last day of such Performance Period. 

(d)    Voting; Dividends. Participants holding Performance Shares shall have no voting rights with respect to such
Awards and shall have no dividend rights with respect to Shares subject to such Performances Shares other than as the Committee so provides, in its discretion, in an Agreement, or as provided by Section 12(f); provided, that, any such dividends
shall be subject to the same restrictions and conditions as the Performance Shares underlying such dividends and shall be payable only if, and no earlier than at the same time as, the underlying Performance Shares become vested. 

(e)    Performance Criteria. Performance Shares and other Awards under the Plan may be made subject to the
achievement of Performance Criteria, which shall be performance goals established by the Committee relating to one or more business criteria as set forth herein. Performance Criteria may be applied to the Company, an Affiliate, a Parent, a
Subsidiary, a division, a business unit, a corporate group or an individual or any combination thereof and may be measured in absolute levels or relative to another company or companies, a peer group, an index or indices or Company performance in a
previous period. Performance may be measured over such period of time as determined by the Committee. Performance goals that may be used to establish Performance Criteria are: free cash flow, adjusted free cash flow, base-business net sales, total
segment profit, adjusted EBIT/EBITDA, adjusted diluted earnings per share, adjusted gross profit, adjusted operating profit, earnings or earnings per share before income tax (profit before taxes), net earnings or net earnings per share (profit after
tax), compound annual growth in earnings per share, operating income, total stockholder return, compound stockholder return, market share, return on equity, average return on invested capital, pre-tax and pre-interest expense return on average
invested capital, which may be expressed on a current value basis, or sales growth, 

  
 11 

 
marketing, operating or workplan goals. Such Performance Criteria and the amount payable for each performance period if the Performance Criteria are achieved shall be set forth in the applicable
Agreement and shall be established pursuant to such procedures and on such terms and conditions as are necessary to satisfy the requirements of the Code or other applicable law. 

 

	10.	 Restricted Stock and Restricted Stock Unit Awards. 

(a)    Grant. All or any part of any Restricted Stock or Restricted Stock Unit Award may be subject to such
conditions and restrictions as may be established by the Committee, and set forth in the applicable Agreement, which may include, but are not limited to, continuous employment with the Company, a requirement that a Participant pay a purchase price
for such Award, the achievement of specific performance goals (including Performance Criteria) and/or applicable securities laws restrictions. During any period in which an Award of Restricted Stock or Restricted Stock Units is restricted and
subject to a substantial risk of forfeiture, (i) Participants holding Restricted Stock Awards may exercise full voting rights with respect to such Shares and (ii) Participants holding Restricted Stock Units shall have no voting rights with
respect to such Awards. Except as provided by Section 12(f), dividends or dividend equivalents shall be subject to the same restrictions and conditions as the Restricted Stock Awards underlying such dividends or the Restricted Stock Units
underlying the dividend equivalents and shall be payable only if, and no earlier than at the same time as, the underlying Restricted Stock Award or Restricted Stock Unit become vested. If the Committee determines that Restricted Stock shall be held
by the Company or in escrow rather than delivered to the Participant pending the release of the applicable restrictions, the Committee may require the Participant to execute and deliver to the Company an escrow agreement satisfactory to the
Committee, if applicable, and an appropriate blank stock power with respect to the Restricted Stock covered by such agreement. 

(b)    Restrictions. 

(i)    Restricted Stock awarded to a Participant shall be subject to the following restrictions until the
expiration of the period during which the Award is restricted, and to such other terms and conditions as may be set forth in the applicable Agreement: (A) if an escrow arrangement is used, the Participant shall not be entitled to delivery of
the stock certificate; (B) the Shares shall be subject to the restrictions on transferability set forth in the Agreement; (C) the Shares shall be subject to forfeiture for such period and subject to satisfaction of any applicable
performance goals (including Performance Criteria) during such period, to the extent provided in the applicable Agreement; and (D) to the extent such Shares are forfeited, the stock certificates, if any, shall be returned to the Company, and
all rights of the Participant to such Shares and, as a stockholder, with respect to such Shares shall terminate without further obligation on the part of the Company. 

(ii)    Restricted Stock Units awarded to any Participant shall be subject to (A) forfeiture until the
expiration of the period during which the Award is restricted, and the satisfaction of any applicable performance goals (including Performance Criteria) during such period, to the extent provided in the applicable Agreement, and to the extent such
Restricted Stock Units are forfeited, all rights of the Participant to such Restricted Stock Units shall terminate without further obligation on the part of the Company and (B) such other terms and conditions as may be set forth in the
applicable Agreement. 
 (iii)    The Committee shall have the authority to remove any or all of the
restrictions on the Restricted Stock and Restricted Stock Units whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the date the Restricted Stock or Restricted Stock Units are
granted, such action is appropriate. 
 (c)    Restricted Period. An Award of Restricted Stock or Restricted
Stock Units shall vest on the terms provided in the Agreement. Each certificate representing Restricted Stock awarded under the Plan shall bear a legend in such form as the Company deems appropriate. 

  
 12 

 11.    Other Awards. The Committee may from time to time grant Other
Awards under this Plan, including without limitation those Awards pursuant to which a cash bonus award may be made or pursuant to which Shares may be acquired in the future, such as Awards denominated in Stock, Units of Stock, securities convertible
into Stock and phantom securities. The Committee, in its sole discretion, shall determine, and provide in the applicable Agreement for, the terms and conditions of such Awards provided that such Awards shall not be inconsistent with the terms and
purposes of this Plan. The Committee may, in its sole discretion, direct the Company to issue Shares subject to restrictive legends and/or stop transfer instructions which are consistent with the terms and conditions of the Award to which such
Shares relate. 
  

	12.	 General Provisions. 

(a)    Effective Date of this Plan. This Plan shall become effective as of September 30, 2019. 

(b)    Duration of this Plan; Date of Grant. This Plan shall remain in effect for a term of ten (10) years
following the date on which it is effective (i.e., until September 30, 2029) or until all Shares subject to the Plan shall have been purchased or acquired according to the Plan’s provisions, whichever occurs first, unless this Plan is
sooner terminated pursuant to Section 12(e) hereof. No Awards shall be granted pursuant to the Plan after such Plan termination or expiration, but outstanding Awards may extend beyond that date. The date and time of approval by the Committee of
the granting of an Award shall be considered the date and time at which such Award is made or granted, or such later effective date as determined by the Committee, notwithstanding the date of any Agreement with respect to such Award; provided,
however, that the Committee may grant Awards other than Incentive Stock Options to Associates or to persons who are about to become Associates, to be effective and deemed to be granted on the occurrence of certain specified contingencies, provided
that if the Award is granted to a non-Associate who is about to become an Associate, such specified contingencies shall include, without limitation, that such person becomes an Associate. 

(c)    Right to Terminate Employment. Nothing in this Plan or in any Agreement shall confer upon any Participant
the right to continue in the employment of the Company or any Affiliate or affect any right which the Company or any Affiliate may have to terminate or modify the employment of the Participant with or without cause. 

(d)    Tax Withholding. The Company shall withhold from any payment of cash or Stock to a Participant or other
person under this Plan an amount sufficient to cover any required withholding taxes, including the Participant’s social security and Medicare taxes (FICA) and federal, state and local income tax with respect to income arising from payment of
the Award. The Company shall have the right to require the payment of any such taxes before issuing any Stock pursuant to the Award. In lieu of all or any part of a cash payment from a person receiving Stock under this Plan, the Committee may, in
the applicable Agreement or otherwise, permit a person to cover all or any part of the required withholdings, and to cover any additional withholdings up to the amount needed to cover the person’s full FICA and federal, state and local income
tax with respect to income arising from payment of the Award, through a reduction of the numbers of Shares delivered to such person or a delivery or tender to the Company of Shares held by such person, in each case valued in the same manner as used
in computing the withholding taxes under applicable laws. 
 (e)    Amendment, Modification and Termination of this
Plan. Except as provided in this Section 12(e), the Board may at any time amend, modify, terminate or suspend this Plan. Except as provided in this Section 12(e), the Committee may at any time alter or amend any or all Agreements under this Plan
to the extent permitted by law and subject to the requirements of Section 2(b), in which event, as provided in Section 2(b), the term “Agreement” shall mean the Agreement as so amended. Amendments are subject to approval of the
stockholders of the Company only as required by applicable law or regulation, or if the amendment increases the total number of shares available under this Plan, except as provided in Section 12(f). No termination, suspension or modification of this
Plan may materially and adversely affect any right acquired by any Participant (or a Participant’s legal representative) or any Successor or permitted transferee under an Award granted before the date of termination, suspension or modification,
unless otherwise provided in an Agreement or otherwise or required as a matter of law. It is conclusively presumed that any adjustment for changes in capitalization provided for in Section 12(f) hereof does not adversely affect any right of a
Participant or other person under an Award. It 

  
 13 

 
is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide eligible Associates with the maximum benefits provided or to be
provided under the provisions of the Code relating to Incentive Stock Options or to the provisions of Section 409A of the Code and/or to bring the Plan and/or Awards granted under it into compliance therewith. 

(f)    Adjustment Upon Certain Changes. 

(i)    Shares Available for Grants. In the event of any change in the number of Shares outstanding by reason of any
stock dividend or split, recapitalization, merger, consolidation, combination or exchange of shares or similar corporate change or transaction, the maximum aggregate number of Shares with respect to which the Committee may grant Awards and the
maximum aggregate number of Shares with respect to which the Committee may grant Awards to any individual Participant in any year shall be appropriately adjusted by the Committee. 

(ii)    Increase or Decrease in Issued Shares Without Consideration. Subject to any required action by the
stockholders of the Company, in the event of any increase or decrease in the number of issued Shares resulting from a subdivision or consolidation of Shares, the payment of a stock dividend (but only on the Shares), or any other increase or decrease
in the number of such Shares effected without receipt or payment of consideration by the Company, the Committee shall appropriately adjust the number of Shares subject to each outstanding Award and the exercise price per Share, or similar reference
price, to the extent applicable, of each such Award. 
 (iii)    Certain Mergers. Subject to any required action
by the stockholders of the Company, in the event that the Company shall be the surviving corporation in any merger, consolidation or similar transaction as a result of which the holders of Shares receive consideration consisting exclusively of
securities of such surviving corporation, the Committee shall have the power to adjust each Award outstanding on the date of such merger or consolidation so that it pertains and applies to the securities which a holder of the number of Shares
subject to such Award would have received in such merger or consolidation. 
 (iv)    Certain Other Transactions.
In the event of (A) a dissolution or liquidation of the Company, (B) a sale of all or substantially all of the Company’s assets (on a consolidated basis), (C) a merger, consolidation or similar transaction involving the Company in
which the Company is not the surviving corporation or (D) a merger, consolidation or similar transaction involving the Company in which the Company is the surviving corporation but the holders of Shares receive securities of another corporation
and/or other property, including cash, the Committee shall, in its sole discretion, have the power to: 
 (1) cancel, effective immediately
prior to the occurrence of such event, each Award (whether or not then exercisable), and, in full consideration of such cancellation, pay to the Participant to whom such Award was granted an amount in cash for each share of Stock subject to such
Award equal to the value, as determined by the Committee in its reasonable discretion, of such Award, provided that with respect to any outstanding Stock Option or Stock Appreciation Right such value shall be equal to the excess of (I) the
value, as determined by the Committee in its reasonable discretion, of the property (including cash) received by the holder of a Share as a result of such event over (II) the exercise price per Share of such Stock Option or Stock Appreciation
Right, and provided, further, that the Committee shall not accelerate the vesting of an Award in a manner that is inconsistent with Section 6(g) hereof, unless the Committee determines that such acceleration is in the best interests of the
Company; or 
 (2) provide for the exchange of each Award (whether or not then exercisable or vested) for an Award with respect to, as
appropriate, some or all of the property which a holder of the number of Shares subject to such Award would have received in such transaction and, incident thereto, make an equitable adjustment as determined by the Committee in its reasonable
discretion in the 

  
 14 

 
exercise price of the Award, or the number of shares or amount of property subject to the Award or, if appropriate, provide for a cash payment to the Participant to whom such Award was granted in
partial consideration for the exchange of the Award. 
 (v)    Other Changes. In the event of any change in the
capitalization of the Company or any corporate change other than those specifically referred to in subsections (ii), (iii) or (iv), the Committee shall have the power to make equitable adjustments in the number and class of shares subject to Awards
outstanding on the date on which such change occurs and in such other terms of such Awards. 
 (vi)    Performance
Awards. In the event of any transaction or event described in this Section 12(f), including without limitation any corporate change referred to in subsection (v) hereof, and in the event of any changes in accounting treatment,
practices, standards or principles, the Committee shall have the power to make equitable adjustments in any Performance Criteria and in other terms and the performance goals of any Award made pursuant to Section 9 hereof. 

(vii)    No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason
of any subdivision or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution, liquidation, merger or consolidation of the Company or any
other corporation. Except as expressly provided in the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made
with respect to, the number of Shares or amount of other property subject to, or the terms related to, any Award. 

(g)    Other Benefit and Compensation Programs. Payments and other benefits received by a Participant under an
Award shall not be deemed a part of a Participant’s regular, recurring compensation for purposes of any termination, indemnity or severance pay laws and shall not be included in, nor have any effect on, the determination of benefits under any
other employee benefit plan, contract or similar arrangement provided by the Company or an Affiliate, unless expressly so provided by such other plan, contract or arrangement or the Committee determines that an Award or portion of an Award should be
included to reflect competitive compensation practices or to recognize that an Award has been made in lieu of a portion of competitive cash compensation. 

(h)    Beneficiary Upon Participant’s Death. To the extent that the transfer of a Participant’s Award at
death is permitted by this Plan or under an Agreement, (i) a Participant’s Award shall be transferable to the beneficiary, if any, designated on forms prescribed by and filed with the Committee and (ii) upon the death of the
Participant, such beneficiary shall succeed to the rights of the Participant to the extent permitted by law and this Plan. If no such designation of a beneficiary has been made, or if the Committee shall be in doubt as to the rights of any
beneficiary, as determined in the Committee’s discretion, the Participant’s legal representative shall succeed to the Awards, which shall be transferable by will or pursuant to laws of descent and distribution to the extent permitted by
this Plan or under an Agreement, and the Company and the Committee and Board and members thereof, shall not be under any further liability to anyone. 

(i)    Unfunded Plan. This Plan shall be unfunded and the Company shall not be required to segregate any assets
that may at any time be represented by Awards under this Plan. Neither the Company, its Affiliates, the Committee, nor the Board shall be deemed to be a trustee of any amounts to be paid under this Plan nor shall anything contained in this Plan or
any action taken pursuant to its provisions create or be construed to create a fiduciary relationship between the Company and/or its Affiliates and a Participant or Successor. To the extent any person acquires a right to receive an Award under this
Plan, such right shall be no greater than the right of an unsecured general creditor of the Company. 
 (j)    Limits
of Liability. 
 (i)    Any liability of the Company to any Participant with respect to an Award shall be based
solely upon contractual obligations created by this Plan and the Agreement. 

  
 15 

 (ii)    Except as may be required by law, neither the Company nor any
member or former member of the Board or the Committee, nor any other person participating (including participation pursuant to a delegation of authority under Section 3 hereof) in any determination of any question under this Plan, or in the
interpretation, administration or application of this Plan, shall have any liability to any party for any action taken, or not taken, in good faith under this Plan. 

(iii)    To the full extent permitted by law, each member and former member of the Board and the Committee and each person
to whom the Committee delegates or has delegated authority under this Plan shall be entitled to indemnification by the Company against any loss, liability, judgment, damage, cost and reasonable expense incurred by such member, former member or other
person by reason of any action taken, failure to act or determination made in good faith under or with respect to this Plan. 

(k)    Compliance with Applicable Legal Requirements. The Company shall not be required to issue or deliver a
certificate for Shares distributable pursuant to this Plan unless the issuance of such certificate complies with all applicable legal requirements including, without limitation, compliance with the provisions of applicable state securities laws, the
Securities Act, the Exchange Act and the requirements of the exchanges, if any, on which the Company’s Shares may, at the time, be listed. 

(l)    Deferrals and Settlements. The Committee may require or permit Participants to elect to defer the issuance
of Shares or the settlement of Awards in cash under such rules and procedures as it may establish under this Plan. It may also provide that deferred settlements include the payment or crediting of interest on the deferral amounts. 

(m)    Forfeiture. The Committee may specify in an 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 events, in addition to applicable vesting conditions of an Award. Such events may include, without limitation,
breach of non-competition, non-solicitation, confidentiality or other restrictive covenants that are contained in the Agreement or otherwise applicable to the
Participant, a termination of the Participant’s employment for Cause or other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Affiliates. 

(n)    Clawback and Noncompete. Notwithstanding any other provisions of this Plan, any Award which is subject to
recovery under any law, government regulation, stock exchange listing requirement or Company policy, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation, stock exchange listing
requirement or any policy adopted by the Company whether pursuant to any such law, government regulation or stock exchange listing requirement or otherwise. In addition and notwithstanding any other provisions of this Plan, any Award shall be
subject to such noncompete provisions under the terms of the Agreement or any other agreement or policy adopted by the Company, including, without limitation, any such terms providing for immediate termination and forfeiture of an Award if and when
a Participant becomes an employee, agent or principal of a competitor without the express written consent of the Company. 

(o)    Sub-plans. The Committee may from time to time establish sub-plans under the Plan for purposes of satisfying blue sky, securities, tax or other laws of various jurisdictions in which the Company intends to grant Awards. Any
sub-plans shall contain such limitations and other terms and conditions as the Committee determines are necessary or desirable. All sub-plans shall be deemed a part of
the Plan, but each sub-plan shall apply only to the Participants in the jurisdiction for which the sub-plan was designed. 

(p)    Plan Headings. The headings in the Plan are for purposes of convenience only and are not intended to define
or limit the construction of the provisions hereof. 
 (q)    Non-Uniform
Treatment. The Committee’s determinations under the Plan need not be uniform and may be made by it selectively among persons who are eligible to receive, or actually receive, Awards. Without limiting the generality of the foregoing, the
Committee shall be entitled to make non-uniform and selective determinations, amendments and adjustments and to enter into non-uniform and selective Agreements. 

  
 16 

 13.      Substitute Awards. Awards may be granted under this
Plan from time to time in substitution for Awards held by employees or other service providers of other entities who are about to become Associates, or whose employer (or entity with respect to which such individual provides services) is about to
become a Subsidiary of the Company, as the result of a merger or consolidation of the Company or a Subsidiary of the Company with another entity, the acquisition by the Company or a Subsidiary of the Company of all or substantially all the assets of
another entity or the acquisition by the Company or a Subsidiary of the Company of at least 50% of the issued and outstanding stock of another entity. The terms and conditions of the substitute Awards so granted may vary from the terms and
conditions set forth in this Plan to such extent as the Board at the time of the grant may deem appropriate to conform, in whole or in part, to the provisions of the Awards in substitution for which they are granted, but with respect to Awards which
are Incentive Stock Options, no such variation shall be permitted which affects the status of any such substitute option as an Incentive Stock Option. 

14.      Governing Law. To the extent that federal laws do not otherwise control, this Plan and all determinations
made and actions taken pursuant to this Plan shall be governed by the laws of Delaware, without giving effect to principles of conflicts of laws, and construed accordingly. 

15.      Severability. In the event any provision of this Plan shall be held illegal or invalid for any reason,
the illegality or invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

16.      Deferred Compensation. The Plan is intended to comply with Section 409A of the Code to the extent
subject thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and administered to be in compliance therewith. Each installment in any series of payments under any Award shall be considered a “separate
payment” for all purposes of Section 409A of the Code. Any payments that are due within the short-term deferral period as defined in Section 409A of the Code shall not be treated as deferred compensation unless applicable laws require
otherwise. References to termination or cessation of employment, separation from service, or similar or correlative terms shall be construed to require a “separation from service” (as that term is defined in
Section 1.409A-1(h) of the Code), to the extent necessary to comply with Section 409A of the Code. Notwithstanding anything to the contrary in the Plan, to the extent required to avoid adverse tax
consequences under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six (6)-month period immediately following the Participant’s termination of
employment shall instead be paid on the first payroll date after the six (6)-month anniversary of the Participant’s separation from service (or the Participant’s death, if earlier). Notwithstanding the foregoing, neither the Company nor
the Committee shall have any obligation to take any action to prevent the assessment of any tax or penalty under Section 409A of the Code and neither the Company, the Board nor the Committee will have any liability to any Participant or
otherwise for such tax or penalty. If any Award would be considered deferred compensation as defined under Code Section 409A and would fail to meet the requirements of Code Section 409A, then such Award shall be null and void. 

  
 17

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