Document:

Exhibit 10

FORM OF STOCK APPRECIATION RIGHT AGREEMENT

MARRIOTT INTERNATIONAL, INC.

2002 COMPREHENSIVE STOCK AND CASH INCENTIVE PLAN

This Agreement ("Agreement") is executed in duplicate as <Grant Date>, (the "Grant Date") between Marriott International, Inc. ("Company"), and <Fname> <Lname> ("Employee").

In accordance with Article 10 of the Company's 2002 Comprehensive Stock and Cash Incentive Plan ("Plan"), as amended, relating to Other Share-Based Awards, the Company has authorized this stock appreciation right Agreement.

Now, THEREFORE, it is agreed as follows:

1.Prospectus.  The Employee has been provided with, and hereby acknowledges receipt of, a Prospectus for the Plan dated <Date>, which contains, among other things, a detailed description of the share-based award provisions of the Plan.

2.Interpretation.  The provisions of the Plan are incorporated herein by reference and form an integral part of this Agreement.  Except as otherwise set forth herein, capitalized terms used herein shall have the meanings given to them in the Plan.  In the event of any inconsistency between this Agreement and the Plan, the terms of the Plan shall govern.  A copy of the Plan is available from the Compensation Department of the Company upon request.  All decisions and interpretations made by the Compensation Policy Committee of the Company's Board of Directors (the "Committee") or its delegate with regard to any question arising hereunder or under the Plan shall be binding and conclusive.

3.Grant of SARs.  The Company hereby grants to the Employee as of the Grant Date this stock appreciation right (the "SAR") on <Grant> shares of the Company's Common Stock (the "SAR Shares"), subject to the terms and conditions of the Plan, the Employee's acceptance of this Agreement and satisfaction of the tax provisions of the Company's International Assignment Policy ("IAP"), if applicable.  Under this Agreement, upon satisfying the conditions for exercising a SAR as set forth in paragraphs 5 and 6 below, Employee shall receive a number of shares of Common Stock of the Company equal to the number of SAR shares that are being exercised under such SAR multiplied by the quotient of (a) the Final Value minus the Base Value, divided by (b) the Final Value.

4.Base Value and Final Value.  Subject to Paragraph 12 hereof, the Base Value per share of the SAR Shares is <Base Value> and the Final Value is the Fair Market Value of a Share of Common Stock of the Company as of the date the SAR is exercised.

5.Waiting Period and Exercise Dates.  The SAR Shares may not be exercised during the one-year period following the Grant Date (the "waiting period").  Following the waiting period, the SAR Shares may be exercised in accordance with the following schedule:  25% of the SAR Shares commencing at the end of the waiting period, and an additional 25% of the SAR Shares commencing on each of the second, third and fourth one-year anniversaries of the Grant Date.  To the extent that the SAR is not exercised by the Employee when it becomes initially exercisable, the SAR shall not expire but shall be carried forward and shall be exercisable at any time thereafter; provided, however, that the SAR shall not be exercisable after the expiration of ten (10) years from the Grant Date or sooner as set forth in paragraph 9, if applicable.  Exercise of the SAR shall not be dependent upon the prior or sequential exercise of any other SARs heretofore granted to Employee by the Company.  Except as provided in the Plan and Paragraph 9 below, the SAR may not be exercised at any time unless the Employee shall then be an employee of the Company or a subsidiary.

6.Method of Exercising SAR.  In order to exercise the SAR, the person entitled to exercise the SAR must provide a signed written notice to the Company stating the number of SAR Shares with respect to which the SAR is being exercised.  Upon receipt of such notice, the Company will advise the person exercising the SAR of the amount of withholding taxes to be paid under Federal and, where applicable, state and local law resulting from such exercise.  The SAR may be exercised by (a) making provision for the satisfaction of the applicable withholding taxes, and (b) an undertaking to furnish and execute such documents as the Company deems necessary (i) to evidence such exercise, and (ii) to determine whether registration is then required to comply with the Securities Act of 1933 or any other law.  Upon satisfying the conditions for exercise including the provision for the satisfaction of the withholding taxes, the Company shall, without transfer or issue tax to the person exercising the SAR, either cause delivery to such person of a share certificate or other evidence of the SAR Shares purchased or provide confirmation from the transfer agent for the Common Stock of the Company that said transfer agent is holding shares for the account of such person in a certificateless account.  Pursuant to procedures, if any, that may be adopted by the Committee or its delegate, the exercise of the SAR may be by any other means that the Committee determines to be consistent with the Plan's purpose and applicable law.

7.Rights as a Shareholder.  The Employee shall have no rights as a shareholder with respect to any SAR Shares covered by the SAR granted hereby until the date of issuance of a stock certificate or confirmation of the acquisition of such SAR Shares.  No adjustment shall be made for dividends or other rights for which the record date is prior to the date of issuance.

8.Non-Assignability.  The SAR shall not be assignable or transferable by the Employee except by will or by the laws of descent and distribution.  During the Employee's lifetime, the SAR may be exercised only by the Employee or, in the event of incompetence, by the Employee's legally appointed guardian.

9.Effect of Termination of Employment or Death.  If the Employee goes on leave of absence for a period of greater than twelve months (except a leave of absence approved by the Board of Directors or the Committee) or ceases to be an employee of the Company or a Subsidiary for any reason except death, the portion of the SAR which is unexercisable on the date on which the Employee ceased to be an Employee or has been on a leave of absence for over twelve months (except a leave of absence approved by the Board or Committee) shall expire on such date and any unexercised portion of the SARs which was otherwise exercisable on such date shall expire at the earlier of (i) the expiration of this SAR in accordance with the term for which the SAR was granted, or (ii) three months (one year in the case of termination by reason of Disability of the Employee under the terms of the Plan) from such date, except in the case of an Employee who is an "Approved Retiree" as defined below.  If Employee is an Approved Retiree, then the SAR shall expire at the sooner to occur of (i) the expiration of such SAR in accordance with its original term, (ii) the expiration of five years from the date of retirement, or (iii) with respect to SARs granted less than one year before the date the Approved Retiree retires, such retirement date, except not with respect that portion of the SARs equal to the number of such shares multiplied by the ratio of (a) the number of days between the Grant Date and the retirement date inclusive, over (b) the number of days on and after the Grant Date and before the first anniversary of the Grant Date.  In the event of the death of Employee without Approved Retiree status during the three month period following termination of employment or a leave of absence over twelve months (except a leave of absence approved by the Board or Committee), the SAR shall be exercisable by the Employee's personal representative, heirs or legatees to the same extent and during the same period that the Employee could have exercised the SAR if the Employee had not died.  In the event of the death of Employee while an employee or while an Approved Retiree, the SAR (if the waiting period has elapsed) shall be exercisable in its entirety by the Employee's personal representatives, heirs or legatees at any time prior to the expiration of one year from the date of the death of the Employee, but in no event after the term for which the SAR was granted.  For purposes of this Agreement, an "Approved Retiree" is any SAR holder who (i) terminates employment by reason of a Disability, or (ii) (A) retires from employment with the Company with the specific approval of the Committee on or after such date on which the SAR holder has attained age 55 and completed 10 Years of Service, and (B) has entered into and has not breached an agreement to refrain from Engaging in Competition in form and substance satisfactory to the Committee; and if the Committee subsequently determines, in its sole discretion, that an Approved Retiree has violated the provisions of the Agreement to refrain from Engaging in Competition, or has engaged in willful acts or omissions or acts or omissions of gross negligence that are or potentially are injurious to the Company's operations, financial condition or business reputation, such Approved Retiree shall have ninety (90) days from the date of such finding within which to exercise any SARs or portions thereof which are exercisable on such date, and any SARs or portions thereof which are not exercised within such ninety (90) day period shall expire and any SARs or portion thereof which are not exercisable on such date shall be cancelled on such date.

10.  Consent.  By executing this Agreement, Employee consents to the collection and maintenance of Employee's personal information (such as Employee's name, home address, home telephone number and email address, social security number, assets and income information, birth date, hire date, termination date, other employment information, citizenship, marital status) by the Company and the Company's service providers for the purposes of (i) administering the Plan (including ensuring that the conditions of transfer are satisfied from the Award Date through the Exercise Date), (ii) providing Employee with services in connection with Employee's participation in the Plan, (iii) meeting legal and regulatory requirements and (iv) for any other purpose to which Employee may consent.  Employee's personal information is collected from the following sources:

	from this Agreement, investor questionnaires or other forms that Employee submits to the Company or contracts that Employee enters into with the Company;

	from Employee's transactions with the Company, the Company's affiliates and service providers;

	from Employee's employment records with the Company; and

	from meetings, telephone conversations and other communications with Employee.

In addition, Employee further consents to the Company disclosing Employee's personal information to the Company's third party service providers and affiliates and other entities in connection with the services the Company provides related to Employee's participation in the Plan, including:

	financial service providers, such as broker-dealers, custodians, banks and others used to finance or facilitate transactions by, or operations of, the Plan;

	other service providers to the Plan, such as accounting, legal, or tax preparation services; 

	regulatory authorities; and

	transfer agents, portfolio companies, brokerage firms and the like, in connection with distributions to Plan participants.

Employee's personal information is maintained on the Company's networks and the networks of the Company's service providers, which may be in the United States or other countries other than the country in which this Award was granted.  Employee may access Employee's personal information to verify its accuracy and update Employee's information by contacting Employee's local Human Resources representative.  Employee may obtain account transaction information online or by contacting the Plan record keeper as described in the Plan enrollment materials.  By accepting the terms of this Agreement, Employee further agrees to the same terms with respect to other Awards Employee received in any prior year under the Plan.

11.   No Additional Rights.  Benefits under this Plan are not guaranteed.  The grant of Awards is a one-time benefit and does not create any contractual or other right or claim to any future grants of Awards under the Plan, nor does a grant of Awards guarantee future participation in the Plan.  The value of Employee's Awards is an extraordinary item outside the scope of Employee's employment contract, if any.  Employee's Awards are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end-of-service payments, bonuses, long-term service awards, pension or retirement benefits (except as otherwise provided by the terms of any U.S.-qualified retirement or pension plan maintained by the Company or any of its subsidiaries), or similar payments.  By accepting the terms of this Agreement, Employee further agrees to these same terms and conditions with respect to any other Awards Employee received in any prior year under the Plan.

12.Recapitalization or Reorganization.  Certain events affecting the Common Stock of the Company and mergers, consolidations and reorganizations affecting the Company may affect the number or type of securities deliverable upon exercise of the SAR or limit the remaining term over which this SAR may be exercised.

13.General Restriction.  In accordance with the terms of the Plan, the Company may limit or suspend the exercisability of the SAR or the purchase or issuance of SAR Shares thereunder under certain circumstances.  Any delay caused thereby shall in no way affect the date of termination of the SAR.

14.Amendment of This Agreement.  The Board of Directors may at any time amend, suspend or terminate the Plan; provided, however, that no amendment, suspension or termination of the Plan or the SAR shall adversely affect in any material way the SAR without the written consent of the Employee.

15.Notices.  Notices hereunder shall be in writing, and if to the Company, may be delivered personally to the Compensation Department or such other party as designated by the Company or mailed to its principal office at 10400 Fernwood Road, Bethesda, Maryland 20817, addressed to the attention of the SAR Administrator (Department 935.40), and if to the Employee, may be delivered personally or mailed to the Employee at his or her address on the records of the Company.

16.Successors and Assigns.  This Agreement shall bind and inure to the benefit of the parties hereto and the successors and assigns of the Company and, to the extent provided in Paragraph 9 above and the provisions of the Plan, to the personal representatives, legatees and heirs of the Employee.

 

17.No Effect on Employment.  Nothing contained in this Agreement shall be construed to limit or restrict the right of the Company or of any subsidiary to terminate the Employee's employment at any time, with or without cause, or to increase or decrease the Employee's compensation from the rate of compensation in existence at the time this Agreement is executed.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the Grant Date.

MARRIOTT INTERNATIONAL, INC.EMPLOYEE

Employee Name  (Please Print)

 

By:  ____________________________________

        Executive Vice President, Human ResourcesEmployee Social Security Number (Please Print)

 

___________________________________________

      Employee Signature

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

184937v2UNITRIN INC

UNITRIN, INC.

1995 NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN

Amended and Restated

 
1. Purpose.

The purpose of this 1995 Non-Employee Director Stock Option Plan ("Plan") of Unitrin, Inc. ("Company") is to encourage ownership in the Company by non-employee directors of the Company and to attract and retain qualified non-employee personnel to serve as directors of the Company.

2. Administration.

The Plan will be administered by a committee or committees (which term includes subcommittees) consisting of two or more persons appointed by the Board of Directors of the Company.  The composition of any committee responsible for administration of the Plan shall comply with the applicable requirements of the Securities Exchange Act of 1934, as amended ("Exchange Act").  Members of a committee will serve for such term as the Board of Directors may determine, subject to removal by the Board of Directors at any time.  With respect to any matter, the term "Committee" refers to the committee that has been delegated authority with respect to such matter.

Subject to the provisions of the Plan, the Committee shall have authority:  (i) to construe and interpret the Plan; (ii) to define the terms used herein; (iii) to prescribe, amend and rescind rules and regulations relating to the Plan; (iv) to make such changes to the Plan as may become necessary or advisable to comply with the Exchange Act or other legal requirements; and (v) to make all other determinations necessary or advisable for the administration of the Plan.  All determinations and interpretations made by the Committee shall be binding and conclusive on all participants in the Plan and their legal representatives and beneficiaries. 

3. Shares Subject to the Plan.

The shares to be offered under the Plan shall consist of authorized but unissued shares or treasury shares of the Company's common stock ("Common Stock") and, subject to adjustment as provided in paragraph 13 hereof, the aggregate amount of Common Stock which may be subject to options granted pursuant to paragraphs 5a, 5b and 5c hereunder ("Options") shall not exceed 400,000 shares.  If any Option granted under the Plan shall expire or terminate for any reason, without having been exercised or vested in full, as the case may be, the unpurchased shares subject thereto shall again be available for Options to be granted under the Plan.  Options granted under the Plan will not be qualified as "incentive stock options" under Section 422 of the Internal Revenue Code of 1986, as amended ("Code").  All Options granted under the Plan shall be granted on or before August 2, 2015, except for restorative options which may continue to be granted after August 2, 2015 until the expiration dates of the original options to which such restorative options relate, subject to the limitation in the last sentence of paragraph 5f.

4. Eligibility.

Each director of the Company who first becomes a director after November 1, 1993 and is not an employee of the Company or any subsidiary of the Company and each director who has retired as an employee of the Company or a subsidiary of the Company shall be eligible to participate in the Plan ("Eligible Directors").  Each Option granted under the Plan shall be governed by an agreement in such form as the Committee shall from time to time approve.

5. Stock Option Grants.

a. Initial Option Grants.

An Option covering 4,000 shares of Common Stock shall be granted to such director on the date that he or she first becomes an Eligible Director.

b. Annual Option Grants.

An Option covering 4,000 shares of Common Stock will be granted to each Eligible Director automatically at the conclusion of each Company Annual Meeting.

c. Duration of Options.

Subject to paragraph 9, below, each Option granted pursuant to this paragraph 5 and all rights associated therewith shall expire ten years from the date of grant.

d. Purchase Price.

The purchase price of the stock covered by each Option shall be the fair market value (as defined in paragraph 6) of a share of Common Stock as of the date of the grant of such Option.

e. Exercise of Options.

Options granted hereunder shall be exercisable during an Option holder's lifetime only by the Option holder or by his or her guardian or legal representative.  Each Option granted under this Plan shall be exercisable in full one year after the date of the grant.  No Option may be exercised for a fraction of a share and no partial exercise of any Option may be for less than:  (i) one hundred (100) shares; or (ii) the total number of shares then eligible for exercise, if less than one hundred (100) shares.

Each Option holder or his or her guardian or legal representative who desires to exercise an Option shall give advance written notice of such exercise to the Company in such form as may be prescribed from time to time by the Committee. Before shares will be issued in connection with an Option exercise, the purchase price for the shares shall be paid in full by:  (i) cash or check payable to the order of the Company; (ii) Constructive or Actual Delivery of Mature Shares; (iii) wire transfer to an account specified by the Company or (iv) any combination of the foregoing.  Shares of Common Stock used to satisfy the exercise price of an Option shall be valued at their fair market value determined in accordance with paragraph 6 hereof.  

For purposes hereof: 

(a) the term "Constructive or Actual Delivery" means either:  (i) presentation to the Company of a recent brokerage account statement or other written evidence satisfactory to the Committee evidencing beneficial ownership by an Eligible Director of shares of Common Stock other than shares held in 401(k), pension, IRA or similar accounts; or (ii) physical delivery of certificates evidencing shares of Common Stock, properly indorsed for transfer to the Company or with an appropriately executed stock power; and 

(b) the term "Mature Shares" means shares of Common Stock that satisfy the following requirements:  (i) have been owned by a Participant free of any encumbrances, vesting requirements or similar restrictions for at least six (6) months; and (ii) have not been exchanged or surrendered by Constructive or Actual Delivery in full or partial payment of the Exercise Price and/or the related tax withholding obligations arising out of an Option exercise within the previous six months.

Subject to the remaining provisions of this paragraph 5f, if (i) an Eligible Director elects to pay some or all of the exercise price of an Option granted on or after May 3, 2000 (the "Underlying Option") by Constructive or Actual Delivery of Mature Shares, and (ii) for Options under original grants made on or after February 1, 2006, and for Restorative Options (as defined below) relating to such original grants, the fair market value of a share of Common Stock on the exercise date exceeds the exercise price of a share of Common Stock subject to the Underlying Option by at least the percentage set forth in the Option agreement, then such Eligible Director shall be granted an Option to purchase shares of Common Stock equal to the number of Mature Shares used by Constructive or Actual Delivery to pay the exercise price (a "Restorative Option").  The exercise price of a Restorative Option shall be equal to one hundred percent (100%) of the fair market value of the Common Stock on the date the Underlying Option is exercised.  The Restorative Option shall be fully vested beginning six months after the date of its grant and shall expire on the expiration date of the Underlying Option.  All other terms of the Restorative Option shall be identical to the terms of the Underlying Option.  No Restorative Option shall be granted if, on the date of exercise of the Underlying Option, (i) such Option would be scheduled to expire within the period set forth in the Option agreement, or if not specified in the Option Agreement, within six months, or (ii) for Options under original grants made on or after February 1, 2006, and for Restorative Options relating to such original grants, the share price of the Common Stock does not meet the appreciation requirement described above.

6. Fair Market Value of Common Stock.

For purposes of the Plan, the fair market value of a share of Common Stock shall be determined by reference to the closing price on the New York Stock Exchange (or the principal stock exchange or market on which the Common Stock is then listed) or, if the Common Stock is not then listed on a stock exchange or market, by reference to the mean between the bid and asked price of a share as supplied by the National Association of Securities Dealers (or its successor in function), in each case as reported by The Wall Street Journal, for the date on which the Option is granted or exercised, as the case may be, or if such date is not a business day, for the business day immediately preceding such date or, if for any reason no such price is available for such date, then by reference to the most recent closing price or the mean between the bid and asked price of a share for the last date on which the Common Stock was traded.

7. Withholding Tax.

Upon the exercise of Options issued hereunder, the Company shall have the right to require the Option holder to pay the Company the amount of taxes, if any, which the Company may be required to withhold with respect to such shares.

8. Transferability.

Options granted hereunder shall not be transferable, other than by will or the laws of descent and distribution, except to the extent transfer is: (i) permitted by Rule 16b-3 of the Exchange Act; and (ii) approved by the Committee. Subject to the foregoing, Options shall not be assigned, pledged or otherwise encumbered by the holder thereof, either voluntarily or by operation of law.

9. Termination of Directorship.

All rights of a director in an Option, to the extent that the Option has not been exercised, shall terminate three months after the date of the termination of his or her services as a director for any reason other than:  (i) the death of the director; (ii) cessation of services as a director because the individual, although nominated by the Board of Directors, is not elected by the shareholders to the Board of Directors; or (iii) retirement because of total and permanent disability as defined in Section 22(e)(3) of the Code (collectively, "Termination Events").  If a director ceases to be a director of the Company because of a Termination Event, his or her unvested Options shall vest immediately.  All vested Options shall expire twelve months after the date of a Termination Event.

 

10. No Right to Continue as a Director.

Neither the Plan nor the granting of an Option under the Plan shall constitute or be evidence of any agreement or understanding that any director has a right to continue as a director for any period of time or at any particular rate of compensation.

11. Restrictions on Disposition of Shares.

Each Option shall provide that the holder, by accepting such Option, represents and agrees, for the Option holder and the Option holder's permitted transferees, that none of the shares acquired upon exercise of such Option will be acquired with a view towards any sale, transfer or distribution of said shares in violation of the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, or any applicable "blue sky" laws, and the holder of such Option shall furnish evidence satisfactory to the Company (including a written and signed representation) to that effect in form and substance satisfactory to the Company, including an indemnification of the Company in the event of any violation by such person of the Securities Act of 1933, as amended, or state blue sky law.

12. Privileges of Stock Ownership.

No Option holder shall have any of the rights or privileges of a shareholder of the Company in respect of any shares of Common Stock issuable with respect to such Option until such shares shall have been issued and delivered (i) to the Option holder in the form of certificates, (ii) to a brokerage or other account for the benefit of the Option holder either in certificate form or via "DWAC" or similar electronic means, or (iii) to a book entry or direct registration account in the name of the Option holder.  No shares shall be issued and delivered upon the exercise of an Option unless and until there shall have been full compliance with all applicable requirements of the Securities Act of 1933, as amended (whether by registration or satisfaction of exemption conditions), all applicable listing requirements of the New York Stock Exchange or any national securities exchange on which shares of the same class are then listed and any other requirements of law or of any regulatory bodies having jurisdiction over such issuance and delivery.

13. Adjustments.

If the outstanding shares of the Common Stock are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company through reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, an appropriate and proportionate adjustment shall be made in the maximum number and kind of shares as to which Options may be granted under this Plan.  A corresponding adjustment changing the number or kind of shares allocated to unexercised Options, which shall have been granted prior to any such change, and to the number of shares covered by initial and annual Option grants under paragraph 5, shall likewise be made.  Any such adjustment in the outstanding Options shall be made without change in the aggregate purchase price applicable to the unexercised portion of the Options but with a corresponding adjustment in the price for each share or other unit of security covered by the Option.  Share amounts specified in paragraphs 3, 5a and 5b of this Amended and Restated Plan have been restated in accordance with this paragraph 13 to reflect the Company's 2-for-1 stock split effective March 26, 1999.

Upon the dissolution or liquidation of the Company, or upon a reorganization, merger or consolidation of the Company with one or more corporations as a result of which the Company is not the surviving corporation, or upon a sale of substantially all the property or more than eighty percent (80%) of the then outstanding stock of the Company to another corporation, the Plan shall terminate, and all Options theretofore granted shall immediately become exercisable.

No fractional shares of stock shall be issued under the Plan on any such adjustment.

14. Amendment and Termination of Plan.

The Board of Directors may at any time terminate the Plan.  The Board of Directors may also at any time amend the terms of the Plan, provided that no such amendment shall become effective without the approval of the Company's shareholders if such approval is required in order to comply with Rule 16b-3 of the Exchange Act or any other applicable law or regulation.  Notwithstanding the foregoing, Plan provisions relating to the amount, price and timing of Options may be amended only by action of the shareholders, but not more than once every six months, other than to comport with changes in the Code or the Employee Retirement Income Security Act of 1974, as amended, or the rules in effect thereunder.

The Committee may from time to time increase or decrease the six-month holding periods specified in the definition of "Mature Shares" in Section 5f above:  (i) to satisfy applicable legal or accounting requirements; (ii) to secure advantageous treatment for the Company or the Participants under any provision of law or any accounting rule, pronouncement or interpretation applicable to financial statements prepared on the basis of accounting principles generally accepted in the United States; or (iii) for any reason determined by the Committee to be in the best interests of the Company or the Participants and not inconsistent with any applicable legal or accounting requirements.  The Committee may eliminate such holding periods in the event that there are no legal or accounting requirements that they be imposed or if there is no longer any advantage to the Company or the Participants that they be imposed and such elimination is otherwise consistent with applicable legal and accounting requirements.  The Committee may also reinstate holding periods in order to satisfy applicable legal or accounting requirements or to secure advantageous treatment for the Company or the Participants of the type contemplated in this paragraph.

Notwithstanding the foregoing, no amendment or termination of the Plan by the Board, and no change related to holding periods made by the Committee pursuant to the foregoing paragraph, shall in any way adversely affect the rights of a holder of any outstanding Option or restorative option subsequently granted in connection with the exercise of an outstanding Option without the prior written consent of such Option holder.

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