Document:

Exhibit 10.1

  

   

  

  

    INNOVIVA, INC.

    June 11, 2020

    Geoffrey L. Hulme

      BY EMAIL

    Re: Consulting Agreement

    Dear Geoffrey,

    This letter agreement (this “Agreement”) is intended to confirm our mutual understanding with
      respect to your engagement with Innoviva, Inc. (the “Company”) from and after the date hereof.

    Your employment with the Company has been terminated effective as of the close of business on May 20, 2020 (such date being, the “Separation Date”).  Following the Separation Date, you will receive any accrued but unused paid time off payable in accordance with the Company’s policies.  From and after the Separation Date,
      you will not be entitled to any new equity or equity-based awards and all outstanding unvested equity and equity-based awards held by you as of the Separation Date will expire and automatically be forfeited as of the Separation Date.  In addition,
      you will not be entitled to any bonus compensation in respect of the 2020 calendar year or otherwise.

    Subject to (i) your completion of your duties and responsibilities during the Consulting Period (as defined below), (ii) your execution,
      delivery to the Company and non-revocation of a general release of claims in the form attached hereto as Exhibit A (the “Release”) that becomes effective within thirty (30) days
      following the Separation Date, and (iii) your continued compliance with this Agreement and that certain Proprietary Information and Inventions Agreement, dated May 18, 2018, by and between you and the Company (the “PIIA”), the Company will pay (or reimburse you) for the cost of your monthly premium under COBRA until the later of (x) the last day of the Consulting Period or (y) the date that is three (3) months following the
      Separation Date, in either case, to the extent permitted by applicable law without any penalty to you or any member of the Company Group and subject to your election of COBRA continuation coverage under the Company’s group health plan (the “Consideration”).  If you fail to execute the Release in a timely manner so as to permit any revocation period to expire, or timely revoke your acceptance of such Release following its execution,
      you will not be entitled to receive the Consideration.  Notwithstanding the foregoing, if, at any time prior to or during the period in which you receive the Consideration, you engage in conduct that constitutes “cause” (e.g., conduct that materially harms or could reasonably be expected to materially harm the business or reputation of any member of the Company Group (as defined below)) as determined by the
      Company in good faith (“Cause”), then your right to the Consideration will immediately cease as of the occurrence of such conduct.

    By signing below, you acknowledge and reaffirm your obligations and restrictions set forth in the PIIA.  You further hereby acknowledge
      that your continued compliance with such obligations and restrictions is a condition of your receiving the Consideration and upon any breach of such obligations or restrictions, the Company shall be entitled to an immediate refund of any
      Consideration already received by you.

    You acknowledge and agree that your conditional right to the Consideration in accordance with the terms of this Agreement is in full
      discharge of any and all severance, separation or termination based liabilities and obligations of the Company or any of its direct and indirect parents, subsidiaries or affiliates (the “Company
        Group”) to you arising under that certain employment letter agreement, dated May 18, 2018, by and between you and the Company (the “Prior Agreement”) or any other alleged written or
      oral employment or service agreement, policy, plan or procedure of the Company or any other member of the Company Group and/or any alleged understanding or arrangement between you and the Company or any other member of the Company Group.

    
      1

      
        

    

    Your engagement as a consultant shall commence effective as of the Separation Date and continue through the close of business on May 20,
      2021, provided that the Company may terminate your engagement earlier (i) for Cause or (ii) in the event of your failure to complete the Consulting Services (as defined below) to the reasonable satisfaction of the Company (the period of your
      engagement as a consultant is referred to herein as the “Consulting Period”).  Upon any termination of your engagement, you will be entitled only to fees accrued but unpaid through the date
      of such termination and any Consideration owed to you in accordance with the terms of this Agreement, and the Company shall have no further obligations to you under this Agreement thereafter.

    During the Consulting Period, you agree to make yourself reasonably available to consult with employees of the Company regarding matters
      in which you have familiarity as may be reasonably requested from time to time, at all times giving the full benefit of your knowledge, expertise, technical skill and ingenuity (the “Consulting
        Services”).  For the avoidance of doubt, the Consulting Services may include a requirement that you provide reasonable cooperation to the Company and/or any other member of the Company Group and its or their respective counsel in connection
      with any investigation, administrative proceeding or litigation.  You agree that you will perform the Consulting Services as an independent contractor, and not as an employee, agent or representative of the Company or any member of the Company Group,
      and unless authorized in writing by the Company, you will not have the power or authority to act on behalf of, or bind in any way, any member of the Company Group.  You will render the Consulting Services from location(s) of your choosing and you
      will furnish any equipment, supplies and other materials used to perform the Consulting Services.  During the Consulting Period, you will report to the Company’s Chief Executive Officer and such other employees as may be designated by the Company
      from time to time regarding your performance of the Consulting Services as may be requested from time to time.  During the Consulting Period, you will provide the Consulting Services for no more than 40 hours per month.

    In consideration for the Consulting Services, the Company will pay you a monthly consulting fee of $41,667, payable monthly in arrears. 
      You will also be reimbursed for all pre-approved and documented out-of-pocket business expenses incurred in your performance of the Consulting Services in accordance with the Company’s policies.  As an independent contractor, you will be solely
      responsible for payment of all applicable taxes payable in respect of amounts payable to you under this Agreement, and the Company will not withhold for taxes from any such amounts.  In addition, you understand and agree that you are not eligible by
      virtue of your engagement as a consultant to participate in any of the employee benefit plans or programs of the Company or any other member of the Company Group.  In the event that this consulting arrangement is reclassified as employment by any
      governmental agency or court, you further agree that you will not seek to participate in or benefit from any of the employee benefit plans or programs of the Company Group as a result of such reclassification.

    By signing below, you represent and warrant to the Company that your provision of the Consulting Services hereunder will not violate any
      applicable law and covenant and agree to comply with all applicable laws in providing the Consulting Services.  You acknowledge that you are in possession of material non-public information regarding the Company and that you will be bound by the
      Company’s policies with respect to securities trading restrictions during the Consulting Period.

     

    

    
      2

      
        

    

    You acknowledge that, during the course of your engagement, you will have access to, and be in close contact with, confidential and
      proprietary information about the Company Group.  In recognition of the foregoing, you agree, at all times from and after the date hereof, to hold in confidence, and not to use (except for the benefit of the Company Group and in connection with the
      Consulting Services hereunder), or to disclose to any person, firm, corporation or other entity without written authorization of the Company, any Confidential Information (as defined below) that you obtain or create.  You understand that “Confidential Information” means confidential or proprietary trade secrets, client lists, client identities and information, information regarding service providers, investment methodologies,
      marketing plans, sales plans, management organization information, operating policies or manuals, business plans or operations or techniques, financial records or data, or other financial, commercial, business or technical information relating to the
      Company Group, or that the Company Group may receive belonging to clients, accounts, customers or others who do business with the Company Group.  However, Confidential Information will not include (i) any of the foregoing items which have become
      publicly and widely known through no wrongful act of yours or of others who were under confidentiality obligations as to the item or items involved; or (ii) any information that you are required to disclose to, or by, any governmental or judicial
      authority; provided, however, that in such event you agree to give the Company prompt written notice thereof so that the Company Group may seek an appropriate
      protective order and/or waive in writing compliance with the confidentiality provisions of this Agreement.  Notwithstanding anything to the contrary set forth in this Agreement, (i) pursuant to the Defend Trade Secrets Act of 2016 (18 U.S.C §
      1833(b)(1)), no individual will be held criminally or civilly liable under federal or state law for the disclosure of a trade secret that: (a) is made (x) in confidence to a federal, state or local government official, either directly or indirectly,
      or to an attorney; and (y) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal, and (ii) you will
      not be prohibited from (a) cooperating in a government or administrative investigation or (b) revealing alleged criminal wrongdoing to law enforcement.

    Each Invention (as defined below) will belong exclusively to the Company.  You acknowledge that all Inventions are works made for hire
      and the property of the Company, including any copyrights, patents or other intellectual property rights pertaining thereto.  If it is determined that any such works are not works made for hire, you hereby assign to the Company all right, title and
      interest, including all rights of copyright, patent and other intellectual property rights, to or in such Inventions without additional compensation.  For purposes of this Agreement, “Invention”
      shall mean any idea, invention, technique, modification, process or improvement (whether patentable or not), any industrial design (whether registerable or not), any mask work, however fixed or encoded, and any work of authorship (whether or not
      copyright protection may be obtained for it) created, conceived or developed by you, either solely or in conjunction with others, during your employment with the Company and/or during the Consulting Period (i) while performing its duties for the
      Company, (ii) by utilizing the Company’s office space, equipment, supplies or facilities and/or (iii) by utilizing Confidential Information.

    You hereby acknowledge and agree that during the Consulting Period, you will not, without the written consent of the Company, directly
      or indirectly, on your behalf or on behalf of a third party, (i) solicit, persuade or induce, or attempt to do any of the foregoing, any current or prospective client, customer, vendor, business partner, distributor, supplier or other business
      relation of any member of the Company Group (collectively, the “Group”) (or who was a client, customer, vendor, business partner, distributor or supplier of the Group as of or following the
      date hereof and at any time during the twelve (12) months preceding the Separation Date) to terminate its relationship with the Group or otherwise interfere in any way with such relationship, or (ii) as to any geographic jurisdiction in which the
      Group is engaged (or has committed plans to engage) in business during your employment with the Company and/or during the Consulting Period, owning any interest in, operating, joining, controlling or participating as a partner, director, principal,
      officer, or agent of, entering into the employment of, acting as a consultant to, or performing any services for any individual or entity (other than the Company), that engages in business activities in which the Group is engaged (or has committed
      plans to engage) during your employment with the Company and/or during the Consulting Period (including without limitation the engagement in any research or development of respiratory products that could compete with any products or services of the
      Group).  You hereby acknowledge and agree that the execution of this Agreement does not alter your obligations to the Group under any confidentiality, non-compete, non-solicit, invention assignment, or similar agreement or arrangement to which you
      are a party with any member of the Company Group, including without limitation the PIIA, which obligations are hereby incorporated into this Agreement and shall survive the termination of your employment and/or service engagement with the Company,
      and you hereby acknowledge that your obligations to the Group pursuant to such agreements or arrangements are in addition to, and not in lieu of, the obligations and restrictions set forth in this Agreement.

    
      3

      
        

    

    You expressly acknowledge that any breach or threatened breach of any of the terms and/or conditions set forth in the previous three
      paragraphs may result in substantial, continuing and irreparable injury to the members of the Company Group.  Therefore, you hereby agree that, in addition to any other remedy that may be available to the Company, any member of the Company Group
      shall be entitled to injunctive relief, specific performance or other equitable relief by a court of appropriate jurisdiction in the event of any breach or threatened breach of the terms of the previous three paragraphs without the necessity of
      proving irreparable harm or injury as a result of such breach or threatened breach.

    You acknowledge that each of the rights enumerated in this Agreement shall be independent of the others and shall be in addition to and
      not in lieu of any other rights and remedies available to the Company Group at law or in equity.  If any of the provisions of this Agreement or any part of any of them is hereafter construed or adjudicated to be invalid or unenforceable, the same
      shall not affect the remainder of this Agreement, which shall be given full effect without regard to the invalid portions.  If any of the covenants contained herein are held to be invalid or unenforceable because of the duration of such provisions or
      the area or scope covered thereby, you agree that the court making such determination shall have the power to reduce the duration, scope and/or area of such provision to the maximum and/or broadest duration, scope and/or area permissible by law, and
      in its reduced form said provision shall then be enforceable.

    Following the Consulting Period, you agree that you will provide reasonable cooperation to the Company and/or any other member of the
      Company Group and its or their respective counsel in connection with any investigation, administrative proceeding or litigation relating to any matter in which you were involved or of which you have knowledge.  The Company agrees to reimburse you for
      reasonable out-of-pocket expenses and to pay you an hourly fee of $150 for services performed at the request of the Company with respect to your cooperation pursuant to the terms of this paragraph.

    You also agree that, in the event you are subpoenaed by any person or entity (including, but not limited to, any government agency) to
      give testimony or provide documents (in a deposition, court proceeding or otherwise) which in any way relates to your employment or service engagement by the Company and/or any other member of the Company Group, you will give prompt written notice of
      such request in writing, delivered to the Company at its principal executive office, marked for the attention of its principal executive officer and will make no disclosure until the Company and/or the other member of the Company Group has had a
      reasonable opportunity to contest the right of the requesting person or entity to such disclosure.

    The Company agrees that you will be covered under the Company’s directors’ and officers’ liability insurance policy during the
      Consulting Period in respect of the Consulting Services to the same extent as the Company’s current directors and officers are covered under such policy.

    The terms contained in this Agreement constitute and embody our full and complete understanding and agreement with respect to your
      engagement as a consultant for the Company, and supersede and replace any prior or contemporaneous agreements or understandings, written or oral, concerning such subject matter, including, without limitation, the Prior Agreement.  The terms of this
      Agreement may be modified only by a writing duly executed by you and the Company, and this Agreement, and your obligations hereunder, may not be assigned by you without the prior written consent of the Company.  The benefits and obligations contained
      in this Agreement will inure to the benefit of and be binding upon the Company and its respective successors and assigns.

    
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    This Agreement will be governed under the laws of the State of New York, without giving effect to the choice of law principles thereof. 
      By signing below, you agree that all disputes and claims of any nature that you may have against any member of the Company Group including, without limitation, all statutory, contractual, and common law claims and claims pursuant to this Agreement,
      will be submitted solely and exclusively first to mandatory mediation and, if mediation is unsuccessful, then to binding arbitration in accordance with the then-current arbitration rules and procedures of the Judicial Arbitration Mediation Services
      (JAMS) to be held in the closest JAMS office to New York, New York (or such other location as mutually agreed to by the parties).  All information regarding the dispute or claim and mediation and arbitration proceedings, including any settlement,
      shall not be disclosed by you or any mediator or arbitrator to any third party without the written consent of the Company, except with respect to judicial enforcement of any arbitration award.  The cost of any mediation or arbitration will be borne
      equally between you and the Company, except where prohibited by applicable law.

    * * *

     

      

     

      

    
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    If you are in agreement with the terms of your consulting engagement described above, please execute this Agreement where indicated below and return to me. 
      The execution of this Agreement may be by actual or facsimile signature.

    

    	 	
            Sincerely,

          
	 	 
	 	
            INNOVIVA, INC.

          
	 	 
	 	
            By:

          	
            /s/ Pavel Raifeld                           

              

          
	 	
            Name:

          	
            Pavel Raifeld

          
	 	
            Title:

          	
            CEO

          
	 	 	 
	 	 	 
	
            AGREED AND ACCEPTED as of this

              11th day of June, 2020 by:

          	 	 
	 	 	 
	 	 	 
	
            /s/ Geoffrey L. Hulme                                   

              

          	 	 
	
            Geoffrey L. Hulme

          	 	 

    

     

      

    

    

  

    

  

    

  
    [Signature page to Hulme Consulting Agreement]

    

   

  

    
     

      

    
      
        

    

    

    

      

    RELEASE OF CLAIMS

    As used in this Release of Claims (this “Release”), the
      term “claims” will include all claims, covenants, warranties, promises, undertakings, actions, suits, causes of action, obligations, debts, accounts, attorneys’ fees, judgments, losses, and liabilities, of whatsoever kind or nature, in law, in
      equity, or otherwise.

    For and in consideration of the Consideration (as defined in my Consulting Agreement, dated June 11, 2020, with
      Innoviva, Inc. (such corporation, the “Company” and such agreement, my “Consulting Agreement”)), and other good and valuable
      consideration, I, Geoffrey L. Hulme, for and on behalf of myself and my heirs, administrators, executors, and assigns, effective as of the date on which this release becomes effective pursuant to its terms, do fully and forever release, remise, and
      discharge the Company and each of it direct and indirect subsidiaries and affiliates, and their respective successors and assigns, together with their respective current and former officers, directors, partners, shareholders, employees, and agents
      (collectively, the “Group”), from any and all claims whatsoever up to the date hereof that I had, may have had, or now have against the Group, whether known or unknown, for or by reason of
      any matter, cause, or thing whatsoever, including any claim arising out of or attributable to my employment or the termination of my employment with the Company, whether for tort, breach of express or implied employment contract, intentional
      infliction of emotional distress, wrongful termination, unjust dismissal, defamation, libel, or slander, or under any federal, state, or local law dealing with discrimination based on age, race, sex, national origin, handicap, religion, disability,
      or sexual orientation.  The release of claims in this Release includes, but is not limited to, all claims arising under the Age Discrimination in Employment Act of 1967 (“ADEA”), Title VII
      of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Civil Rights Act of 1991, the Family and Medical Leave Act of 1993, the Worker Adjustment and Retraining Notification Act of 1988 and the Equal Pay Act of 1963, each as
      may be amended from time to time, and all other federal, state, and local laws, the common law, and any other purported restriction on an employer’s right to terminate the employment of employees.  The release contained herein is intended to be a
      general release of any and all claims to the fullest extent permissible by law.

    I acknowledge and agree that as of the date I execute this Release, I have no knowledge of any facts or circumstances
      that give rise or could give rise to any claims under any of the laws listed in the preceding paragraph.

    By executing this Release, I specifically release all claims relating to my employment and its termination under
      ADEA, a United States federal statute that, among other things, prohibits discrimination on the basis of age in employment and employee benefit plans.

    Notwithstanding any provision of this Release to the contrary, by executing this Release, I am not releasing (i) any
      claims that cannot be waived by law, or (ii) my right of indemnification as provided by, and in accordance with the terms of, the Company’s by-laws or a Company insurance policy providing such coverage, as any of such may be amended from time to
      time.

    I expressly acknowledge and agree that I –

    
      
        	
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                Am able to read the language, and understand the meaning and effect, of this Release;

              

      

      
        	
                •

              	
                Have no physical or mental impairment of any kind that has interfered with my ability to read and understand the meaning of this Release or its terms, and that I am not
                  acting under the influence of any medication, drug, or chemical of any type in entering into this Release;

              

      

      
        	
                •

              	
                Am specifically agreeing to the terms of the release contained in this Release because the Company has agreed to pay me the Consideration in consideration for my
                  agreement to accept it in full settlement of all possible claims I might have or ever have had, and because of my execution of this Release;

              

      

    

  

  
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              Acknowledge that, but for my execution of this Release, I would not be entitled to the Consideration;

            

    

    
      	
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              Understand that, by entering into this Release, I do not waive rights or claims under ADEA that may arise after the date I execute this Release;

            

    

    
      	
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              Had or could have had twenty-one (21) calendar days from the date of my termination of employment (the “Release Expiration Date”) in which to review and consider this Release, and that if I execute this Release prior to the Release Expiration Date, I have voluntarily and knowingly waived the
                remainder of the review period;

            

    

    
      	
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              Have not relied upon any representation or statement not set forth in this Release or my Consulting Agreement made by the Company or any of its representatives;

            

    

    
      	
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              Was advised to consult with my attorney regarding the terms and effect of this Release; and

            

    

    
      	
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              Have signed this Release knowingly and voluntarily.

            

    

    I represent and warrant that I have not previously filed, and to the maximum extent permitted by law agree that I
      will not file, a complaint, charge, or lawsuit against any member of the Group regarding any of the claims released herein.  If, notwithstanding this representation and warranty, I have filed or file such a complaint, charge, or lawsuit, I agree that
      I shall cause such complaint, charge, or lawsuit to be dismissed with prejudice and shall pay any and all costs required in obtaining dismissal of such complaint, charge, or lawsuit, including without limitation the attorneys’ fees of any member of
      the Group against whom I have filed such a complaint, charge, or lawsuit.  Notwithstanding anything to the contrary, nothing herein shall prevent or restrict me from (i) filing a charge or complaint with, participating in an investigation or
      proceeding conducted by, or reporting possible violations of law or regulation to any federal, state or local government agency; (ii) truthfully responding to or complying with a subpoena, court order, or other legal process; or (iii) exercising any
      rights I may have under applicable labor laws to engage in concerted activity with other employees; provided however, that I hereby forgo any monetary benefit from the filing of a charge or complaint with a
      government agency except pursuant to a whistleblower program or where my right to receive such a monetary benefit is otherwise not waivable by law.

    I hereby agree to waive any and all claims to re-employment with the Company or any other member of the Group and
      affirmatively agree not to seek further employment with the Company or any other member of the Group.

    Notwithstanding anything contained herein to the contrary, this Release will not become effective or enforceable
      prior to the expiration of the period of seven (7) calendar days immediately following the date of its execution by me (the “Revocation Period”), during which time I may revoke my acceptance
      of this Release by notifying the Company and the Board of Directors of the Company, in writing, delivered to the Company at its principal executive office, marked for the attention of its Chief Executive Officer.  To be effective, such revocation
      must be received by the Company no later than 11:59 p.m. on the seventh (7th) calendar day following the execution of this Release.  Provided that the Release is executed and I do not revoke it during the Revocation Period, the eighth (8th)
      calendar day following the date on which this Release is executed shall be its effective date.  I acknowledge and agree that if I revoke this Release during the Revocation Period, this Release will be null and void and of no effect, and neither the
      Company nor any other member of the Group will have any obligations to pay me the Consideration.

    
      A-2

      
        

    

    
    The provisions of this Release shall be binding upon my heirs, executors, administrators, legal personal
      representatives, and assigns.  If any provision of this Release shall be held by any court of competent jurisdiction to be illegal, void, or unenforceable, such provision shall be of no force or effect.  The illegality or unenforceability of such
      provision, however, shall have no effect upon and shall not impair the enforceability of any other provision of this Release.

    EXCEPT WHERE PREEMPTED BY FEDERAL LAW, THE VALIDITY, INTERPRETATION, CONSTRUCTION, AND PERFORMANCE OF THIS RELEASE IS
      GOVERNED BY AND IS TO BE CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN THAT STATE, WITHOUT REGARD TO CONFLICT OF LAWS RULES.  ANY DISPUTE OR CLAIM ARISING OUT OF OR RELATING TO THIS RELEASE OR
      CLAIM OF BREACH HEREOF SHALL BE BROUGHT EXCLUSIVELY IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, TO THE EXTENT FEDERAL JURISDICTION EXISTS, AND IN ANY COURT SITTING IN NEW YORK, NEW YORK, BUT ONLY IN THE EVENT FEDERAL
      JURISDICTION DOES NOT EXIST, AND ANY APPLICABLE APPELLATE COURTS.  BY EXECUTION OF THIS RELEASE, I CONSENT TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS, AND WAIVE ANY RIGHT TO CHALLENGE JURISDICTION OR VENUE IN SUCH COURT WITH REGARD TO ANY SUIT,
      ACTION, OR PROCEEDING UNDER OR IN CONNECTION WITH THIS RELEASE.  FURTHER, I HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN CONNECTION WITH ANY SUIT, ACTION, OR PROCEEDING UNDER OR IN CONNECTION WITH THIS RELEASE.

    Capitalized terms used, but not defined herein, shall have the meanings ascribed to such terms in my Consulting Agreement.

    * * *

    I, Geoffrey L. Hulme, have executed this Release of Claims on the respective date set forth below:

  

  

  	 	 	 
	
          

          

        	 /s/ Geoffrey L. Hulme             

          	 
	
          

          

        	 Geoffrey L. Hulme	 
	 	 	 
	

        	  Date:  June 11, 2020	 

  

    

   

    

  A-3Exhibit 4.3

  

  

  

  
    LINCOLN NATIONAL CORPORATION

      2020 INCENTIVE COMPENSATION PLAN

     

    1.           Purpose.  The purpose of the Lincoln National Corporation 2020 Incentive Compensation Plan (the “Plan”) is to assist Lincoln National
      Corporation, an Indiana corporation (the “Corporation”), and its Subsidiaries (as defined below) in attracting, retaining, and rewarding high-quality executives, employees, non-employee directors and other persons who provide services to the
      Corporation and/or its Subsidiaries, enabling such persons to acquire or increase a proprietary interest in the Corporation to strengthen the mutuality of interests between such persons and the Corporation’s shareholders, and providing such persons
      with annual and long-term performance incentives to expend their maximum efforts in the creation of shareholder value.

     

    2.           Definitions.  For purposes of the Plan, the following terms shall be defined as set forth below, in addition to such terms defined in other
      Sections:

     

    (a)          “Affiliate” means a corporation or other entity controlled by, controlling or under common control with the Corporation.

     

    (b)          “Annual Incentive Award” means a conditional right granted to a Participant under Section 8(c) to receive a cash payment, Stock or other Award, unless otherwise determined by the
      Committee, after the end of a specified fiscal year of the Corporation.

     

    (c)          “Applicable Exchange” means the New York Stock Exchange or such other securities exchange as may, at the applicable time, be the principal market for the Stock.

     

    (d)          “Award” means any Option, SAR, Restricted Stock, Restricted Stock Unit, Deferred Stock Unit, Stock granted as a
        bonus or in lieu of another award, Other Stock-Based Award, Performance Award or Annual Incentive Award, together with any other right or interest granted to a Participant under the Plan.

     

    (e)          “Award Agreement” means a written or electronic document or agreement setting forth the terms and conditions of a specific Award.

     

    (f)          “Beneficiary” means the person, persons, trust or trusts that have been designated by a Participant in his or
        her most recent written beneficiary designation filed with the Committee or its designee to receive the benefits specified under the Plan upon such Participant’s death, or to which Awards or other rights are transferred, if and to the extent
        permitted under Section 10(b).  If, upon a Participant’s death, there is no designated Beneficiary or surviving designated Beneficiary, then the term “Beneficiary” means the person, persons, trust or trusts entitled by will or the laws of descent
        and distribution to receive such benefits.

     

    (g)          “Board” means the Corporation’s Board of Directors or any committee of the Board acting on delegated authority.

     

    (h)          “Change of Control” shall have the same meaning ascribed to such term in the Severance Benefit Plan on the date
        immediately preceding the Change of Control.

     

    
      
        

    

    
    (i)          “Code” means the Internal Revenue Code of 1986, as amended from time to time, including regulations thereunder, and successor provisions and regulations thereto, and other
      relevant interpretive guidance issued by the Internal Revenue Service or the U.S. Treasury Department.  Reference to any specific section of the Code shall be deemed to include such regulations and guidance, as well as any successor provision of the
      Code.

     

    (j)          “Committee” means, at any date, each of those members of the Compensation Committee of the Board who shall be a
        “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, unless administration of the Plan by “non-employee directors” is not then required for exemptions under Rule 16b-3 to apply to transactions under the Plan.  Unless
        otherwise designated by the Board, the Committee shall include not fewer than three (3) members.  If fewer than three (3) members of the Committee are eligible to serve thereon, the Board may appoint one or more of its other members who are
        otherwise eligible to serve on the Committee until such time as three (3) members of the Committee are eligible to serve.

     

    (k)          “Corporate Transaction” has the meaning set forth in Section 10(c).

     

    (l)          “Date of Grant” means (i) the date on which the Committee by resolution selects an Eligible Person to receive a grant of an Award and determines the number of Shares, or the
      formula for earning a number of Shares, to be subject to such Award or the cash amount subject to such Award, and other material terms of the Award, or (ii) such later date as the Committee shall provide in such resolution.

     

    (m)         “Deferred Compensation Plan” has the meaning set forth in Section 6(f).

     

    (n)          “Deferred Stock Unit” means a right, granted to a Participant under Section 6(f), to receive Stock, a cash payment measured based on the Fair Market Value of Stock, or a combination thereof, at the end of a specified deferral period.

     

    (o)         “Disaffiliation” means a Subsidiary’s or an Affiliate’s ceasing to be a Subsidiary or an Affiliate for any reason (including, without limitation, as a result of a public offering,
      or a spinoff or sale by the Corporation, of the stock of the Subsidiary or Affiliate), or a sale of a division of the Corporation and its Affiliates.

     

    (p)         “Eligible Person” means the Executive Officers, other officers, employees, non-employee directors, agents, brokers, and consultants of the Corporation or any of its Subsidiaries or Affiliates.  An employee on leave of
        absence may be considered as still in the employ of the Corporation or a Subsidiary for purposes of eligibility for participation in the Plan.

     

    (q)         “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, including rules
        thereunder, and successor provisions and rules thereto.

     

    (r)           “Executive Officer” means an executive officer of the Corporation as defined under the Exchange Act.

     

    
      2

      
        

    

    (s)         “Fair Market Value” means the Fair
        Market Value of Stock, Awards, or other property as determined by the Committee or under procedures established by the Committee.  Unless otherwise determined by the Committee, the Fair Market Value of Stock shall be the closing price of a Share,
        as quoted on the composite transactions table on the Applicable Exchange, on the Date of Grant or if the Stock is not traded on the Applicable Exchange on such measurement date, then on the immediately preceding date on which Stock was traded on
        the Applicable Exchange.  If there is no regular public trading market for such Stock, the Fair Market Value of the Stock shall be determined by the Committee in good faith and, to the extent applicable, such determination shall be made in
      a manner that satisfies Code section 409A and Code section 422(c)(1).

     

    (t)          “ISO” means any Option intended to be and designated as an incentive stock option within the meaning of Code
        section 422 or any successor provision thereto.

     

    (u)          “Option” means a right, granted to a Participant under Section 6(b), to purchase Stock or other Awards at a
        specified price during specified time periods.

     

    (v)          “Other Stock-Based Awards” means Awards granted to a Participant under Section 6(h).

     

    (w)         “Participant” means an Eligible Person who has been granted an Award under the Plan that remains outstanding,
        including a person who is no longer an Eligible Person.

     

    (x)          “Performance Award” means a right, granted to a Participant under Section 8, to receive Awards based upon
        performance criteria specified by the Committee.

     

    (y)          “Preexisting Plan” means the Lincoln National Corporation 2009 Amended and Restated Incentive Compensation Plan
        and the Lincoln National Corporation 2014 Incentive Compensation Plan.

     

    (z)          “Restricted Stock” means Stock, granted to a Participant under Section 6(d), that is subject to certain
        restrictions and to a risk of forfeiture.

     

    (aa)        “Restricted Stock Unit” means a right, granted to a Participant under Section 6(e), to receive Stock, subject to
        certain restrictions and to a risk of forfeiture.

     

    (bb)        “Rule 16b-3” means Rule 16b-3, as from time to time in effect and applicable to the Plan and Participants,
        promulgated by the Securities and Exchange Commission under Section 16 of the Exchange Act, or any similar law or regulation that may be a successor thereto.

     

    (cc)        “Severance Benefit Plan” means the Lincoln National Corporation Executives’ Severance Benefit Plan, as it may be
        amended from time to time.

     

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

     

    (ee)        “Stock” means the Corporation’s common stock and such other securities as may be substituted (or resubstituted)
        for Stock pursuant to Section 10(c).

     

    (ff)         “Stock Appreciation Right” or “SAR” means a right granted to a Participant under Section 6(c).

     

    
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    (gg)      “Subsidiary” means any corporation, partnership, joint venture, limited liability company, or other entity during any period in which at least a fifty percent (50%) voting or profits
      interest is owned, directly or indirectly, by the Corporation or any successor to the Corporation.

     

    (hh)      “Termination of Employment” means the termination of the applicable Participant’s employment with, or performance of services for, the Corporation and any of its Subsidiaries or
      Affiliates.  Unless otherwise determined by the Committee, (i) if a Participant’s employment with the Corporation and its Affiliates terminates, but such Participant continues to provide services to the Corporation and its Affiliates in a
      non-employee capacity, such change in status shall not be deemed a Termination of Employment and (ii) a Participant employed by, or performing services for, a Subsidiary or an Affiliate, or a division of the Corporation and its Affiliates, shall be
      deemed to incur a Termination of Employment if, as a result of a Disaffiliation, such Subsidiary, Affiliate or division ceases to be a Subsidiary, Affiliate or division, as the case may be, and the Participant does not immediately thereafter become
      an employee of, or service provider for the Corporation or another Subsidiary or Affiliate.  Temporary absences from employment because of illness, vacation or leave of absence, and transfers among the Corporation and its Subsidiaries and Affiliates,
      shall not be considered Terminations of Employment.  Notwithstanding the foregoing provisions of this definition, with respect to any Award that constitutes a “nonqualified deferred compensation plan” within the meaning of Code section 409A, a
      Participant shall not be considered to have experienced a Termination of Employment, unless the Participant has experienced a “separation from service” within the meaning of Code section 409A (a “Separation from Service”).

     

    3.            Administration.

     

    (a)         Authority of the Committee.  The Plan shall be administered by
        the Committee.  The Committee shall have full and final authority, in each case, subject to and consistent with the provisions of the Plan, to interpret the provisions of the Plan, select Eligible Persons to become Participants, grant Awards,
        determine the type, number, and other terms and conditions of, and all other matters relating to, Awards, prescribe the terms of Award Agreements, adopt, amend, and rescind rules and regulations for the administration of the Plan, construe and
        interpret the Plan and Award Agreements, and correct defects, supply omissions or reconcile inconsistencies therein, establish any administrative “blackout” period with respect to Awards that the Committee, in its sole discretion deems
      necessary or advisable, and make all other decisions and determinations as the Committee may deem necessary or advisable, for the administration of the Plan; in each case, the determinations of the Committee need not be
        identical for each Participant.  Subject to applicable law, including the requirements of Section 16 of the Exchange Act, any authority granted to the Committee may be exercised by the full Board.  To the extent that any permitted action
      taken by the Board conflicts with action taken by the Committee, the Board action shall control.

     

    
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    (b)          Manner of Exercise of Committee.  Any action of the Committee
        shall be final, conclusive and binding on all persons, including the Corporation, its Subsidiaries, Participants, Beneficiaries, transferees under Section 10(b), or other persons claiming rights from or through a Participant, and shareholders; provided, however, notwithstanding the foregoing, or the terms of
      any Award Agreement, following a Change of Control, any determination by the Committee as to whether “cause” or “good reason” (or any terms of similar meaning applicable to an Award) exists, shall be subject to de
        novo review by the court, arbitrator or other dispute resolution body, as applicable, in the event of a dispute.  The Committee shall exercise its authority only by a majority vote of its members at a meeting
        or, without a meeting, by a writing signed by all of its members.  The express grant of any specific power to the Committee, and the taking of any action by the Committee, shall not be construed as limiting any power or authority of the Committee. 
        The Committee may delegate to officers or managers of the Corporation or any Subsidiary, or committees thereof, the authority, subject to such terms as the Committee shall determine, (i) to perform administrative functions, (ii) with respect to
        Participants not subject to Section 16 of the Exchange Act, to perform such other functions as the Committee may determine and (iii) with respect to Participants subject to Section 16 of the Exchange Act, to perform such other functions of the
        Committee as the Committee may determine to the extent performance of such functions will not result in the loss of an exemption under Rule 16b-3 otherwise available for transactions by such persons, in each case, to the extent permitted under
        applicable law.  The Committee may appoint officers and employees of the Corporation and its Subsidiaries, or other agents to assist it in administering the Plan.

     

    (c)         Limitation of Liability.  The Committee and each member thereof shall be
        entitled, in good faith, to rely or act upon any report or other information furnished to it, him or her by any Executive Officer, other officer or employee of the Corporation or a Subsidiary, the Corporation’s independent auditors, consultants, or
        any other agents assisting in the administration of the Plan.  Members of the Committee, and any officer or employee of the Corporation or a Subsidiary acting at the direction or on behalf of the Committee, shall not be personally liable for any
        action or determination taken or made in good faith with respect to the Plan, and shall, to the extent permitted by law, be fully indemnified and protected by the Corporation with respect to any such action or determination.

     

    (d)        Terms and Conditions of Awards; Award Agreements.  The terms and conditions of
        each Award, as determined by the Committee, shall be set forth in an Award Agreement, which shall be provided to the Participant receiving such Award upon, or as promptly as is reasonably practicable, following the grant of such Award; provided, however, the terms of a cash-based Award may, but are not required to, be set forth in an Award Agreement.  The effectiveness of an Award shall not be subject
        to the Award Agreement’s being signed by the Corporation and/or the Participant receiving the Award, unless specifically so provided in the Award Agreement.  Award Agreements may be amended only in accordance with Section 11 or as otherwise
        permitted under the applicable Award Agreement.

     

    (e)          Minimum Vesting Period.  Except for Awards granted with respect to a maximum of five percent (5%) of the Shares authorized in Section 4(a)(i) or
      Awards of Deferred Stock Units granted to non-employee directors of the Board, Award Agreements shall not designate a vesting period of less than one (1) year.

     

    4.           Stock Subject to Plan.

     

    (a)          Overall Number of Shares Available for Delivery.  Subject to adjustment as provided in Section 10(c), (i) the total number of Shares reserved and
      available for delivery in connection with Awards under the Plan shall be 5,200,000, and (ii) the total number of Shares with respect to which Stock Options intended to be ISOs may be granted under the Plan shall not exceed 2,000,000.

     

    
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    (b)          Application of Limitation to Grants of Awards.  No Award may be granted if the
        number of Shares to be delivered in connection with such Award exceeds the number of Shares remaining available under the Plan, minus the number of Shares issuable in settlement of or relating to then-outstanding Awards.  The Committee may adopt
        reasonable counting procedures to ensure appropriate counting, avoid double counting (as, for example, in the case of tandem or substitute awards) and make adjustments if the number of Shares actually delivered differs from the number of Shares
        previously counted in connection with an Award.

     

    (c)          Availability of Shares Not Delivered Under Awards.  Shares subject to an Award under the Plan that
        is cancelled, expired, forfeited, settled in cash or is terminated, or otherwise lapses without a delivery of Shares to the Participant, will again be available for Awards under the Plan.  If the exercise price of any Stock Option or Stock
      Appreciation Right and/or the tax withholding obligations relating to any Award are satisfied by delivering Shares (either actually or through a signed document affirming the Participant’s ownership and delivery of such Shares) or withholding Shares
      relating to such Award, the gross number of Shares subject to the Award shall nonetheless be deemed to have been granted for purposes of Section 4(a)(i).

     

    (d)          Per-Person Award Limitations.

     

    (i)          In each fiscal year of the Corporation during any part of which the Plan is in effect, an Eligible Person (other than a non-employee director of the Corporation) may
      not be granted an Award under the Plan (taking into account any similar awards granted to such Eligible Person under the Preexisting Plan during such fiscal year) relating to more than 2,000,000 Shares, subject to adjustment as provided in Section
      10(c), under each of the following separate provisions of the Plan:  Sections 6(b), 6(c), 6(d), 6(e), 6(f), 6(g), 6(h), 8(b) and 8(c).  In addition, the maximum cash amount that may be earned by an Eligible Person (other than a non-employee director
      of the Corporation) under (A) Section 8(c) of the Plan as an Annual Incentive Award or other annual Award payable in cash (currently or on a deferred basis) in respect of any fiscal year of the Corporation during any part of which the Plan is in
      effect shall be $8,000,000, and (B) Section 8(b) as a Performance Award or other Award payable in cash (currently or on a deferred basis) in respect of any individual performance period shall not exceed $8,000,000 in any twelve (12)-month period, in
      each case, with such limits under the Plan taking into account any similar awards granted to such Eligible Person under the Preexisting Plan during such fiscal year or twelve (12)-month period, as applicable.

     

    (ii)        A Participant who is a non-employee director of the Corporation shall not receive total compensation for any fiscal year that exceeds $650,000.  For purposes hereof,
      total compensation is the sum of (A) the grant date fair value of any equity or equity-based Awards mandatorily granted to such non-employee director of the Corporation during such fiscal year, (B) the initial
        amount of any cash-denominated Awards mandatorily granted to such non-employee director during such fiscal year, and (C) the amount of cash fees payable to such non-employee director in respect of such service during any fiscal year, including any
        such cash fees that are voluntarily deferred by the non-employee directors.

     

    
      6

      
        

    

    5.           Eligibility.  Awards may be granted under the Plan only to Eligible Persons; provided, however, that ISOs may be granted only to employees of the Corporation and its Subsidiaries or parent corporation (within the meaning of Code section 424(e)).

     

    6.           Specific Terms of Awards.

     

    (a)          General.  Awards may be granted on the terms and conditions set forth in this
        Section 6.  In addition, the Committee may impose on any Award or the exercise thereof, at the Date of Grant or thereafter (subject to Section 11(d)), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the
        Committee shall determine, including terms requiring forfeiture of Awards in the event of Termination of Employment by the Participant, and terms permitting a Participant to make elections relating to his or her Award.  The Committee shall retain
        full power and discretion to accelerate, waive, or modify, at any time, any term or condition of an Award that is not mandatory under the Plan.  Except in cases in which the Committee is authorized to require other forms of consideration under the
        Plan, or to the extent other forms of consideration must be paid to satisfy the requirements of Indiana law, no consideration other than services may be required for the grant (but not the exercise) of any Award.  Any Award (other than Options and
        SARs) or the value of any Award that is made under this Plan may, subject to any requirements of applicable law or regulation, in the Committee’s or its designee’s sole discretion, be converted into Deferred Stock Units and treated as provided in
        Section 6(f).

     

    (b)          Options.  The Committee is authorized to grant Options to Participants on the
        following terms and conditions:

     

    (i)          Exercise Price.  The exercise price per Share purchasable under an Option shall be determined by the Committee; provided that such exercise price shall be not less than the Fair Market Value of a Share on the Date of Grant of such Option.

     

    (ii)         Time and Method of Exercise.  The Committee shall
        determine, at the Date of Grant or thereafter, (A) the time or times at which, or the circumstances under which, an Option may be exercised in whole or in part (including based on achievement of performance goals and/or future service
        requirements), (B) the methods by which such exercise price may be paid or deemed to be paid, (C) the form of such payment, including, without limitation, cash, Stock, other Awards, or awards granted under other plans of the Corporation or any
        Subsidiary, and (D) the methods by, or forms in which Stock will be delivered or deemed to be delivered, to Participants.

     

    (iii)        ISOs.  The terms of any Option intended to be treated as
        an ISO granted under the Plan shall comply in all respects with the provisions of Code section 422.

     

    (c)          Stock Appreciation Rights.  The Committee is authorized to grant SARs to
        Participants on the following terms and conditions:

     

    (i)          Exercise Price.  The exercise price per Share purchasable
        under a SAR shall be determined by the Committee; provided that such exercise price shall be not less than the Fair Market Value of a Share on the Date of Grant of such SAR.

     

    
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    (ii)         Right to Payment.  A SAR shall confer on
        the Participant to whom it is granted a right to receive, upon exercise thereof, a cash payment or Shares with a Fair Market Value as of the date of exercise equal to the excess of (A) the Fair Market Value of one Share on the date of exercise over
        (B) the exercise price of the SAR as determined by the Committee.  The applicable Award Agreement shall specify whether such payment is to be made in cash or Shares or both, or shall reserve to the Committee or the Participant the right to
      make that determination before or upon the exercise of the SAR.

     

    (iii)       Other Terms.  The Committee shall determine, at the Date of
        Grant or thereafter, the time or times at which, and the circumstances under which, a SAR may be exercised, in whole or in part (including based on achievement of performance goals and/or future service requirements), the method of exercise, method
        of settlement, form of consideration payable in settlement, method by, or forms in which any cash or Shares payable will be delivered or deemed to be delivered to Participants, whether or not a SAR shall be in tandem or in combination with any
        other Award, and any other terms and conditions of any SAR.  SARs may be either freestanding or in tandem with other Awards.

     

    (d)          Restricted Stock.  The Committee is authorized to grant Restricted Stock to
        Participants on the following terms and conditions:

     

    (i)         Grant and Restrictions.  Restricted Stock shall be subject
        to such restrictions on transferability, risk of forfeiture and other restrictions, if any, as the Committee may impose, which restrictions may lapse separately or in combination at such times, under such circumstances (including based on
        achievement of performance goals and/or future service requirements), in such installments or otherwise, as the Committee may determine at the Date of Grant or thereafter.  Except to the extent restricted under any Award Agreement relating to the
        Restricted Stock, a Participant granted an Award of Restricted Stock shall have all of the rights of a shareholder, including the right to vote the Restricted Stock and the right to receive dividends thereon
        (subject to any mandatory reinvestment or other requirement imposed by the Committee).  During the restricted period applicable to the Restricted Stock, subject to Section 10(b), the Restricted Stock may not be sold, transferred, pledged,
        hypothecated, margined or otherwise encumbered by the Participant.

     

    (ii)        Forfeiture.  Except as otherwise determined by the
        Committee, upon a Participant’s Termination of Employment during the applicable restriction period, Restricted Stock that is at that time subject to restrictions shall be forfeited and reacquired by the Corporation.

     

    (iii)        Certificates for Stock.  Restricted Stock granted under
        the Plan may be evidenced in such manner as the Committee shall determine.  If certificates representing Restricted Stock are registered in the name of the Participant, the Committee may require that such certificates bear an appropriate legend
        referring to the terms, conditions and restrictions applicable to such Restricted Stock (substantially in the form below), and may require that the Corporation retain physical possession of the certificates and that the Participant deliver a stock
        power to the Corporation, endorsed in blank, relating to the Restricted Stock.

     

    
      8

      
        

    

    The transferability of this certificate and the shares of stock represented hereby are subject to the terms and conditions (including forfeiture) of the Lincoln National
      Corporation 2020 Incentive Compensation Plan and an Award Agreement.  Copies of such Plan and Agreement are on file at the offices of Lincoln National Corporation, 150 North Radnor-Chester Road, Radnor, PA 19087-5238.

     

    (iv)        Dividends and Splits.  As a condition to the grant of an
        Award of Restricted Stock (subject to Section 10(k)), the Committee may require that any cash dividends paid on a share of Restricted Stock be automatically reinvested in additional Shares of Restricted Stock or applied to the purchase of
        additional Awards under the Plan.  Stock distributed in connection with a Stock split or Stock dividend, and cash or other property distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the
        Restricted Stock with respect to which such Stock or other property has been distributed.

     

    (e)          Restricted Stock Units.  The Committee is authorized to grant Restricted Stock
        Units to Participants on the following terms and conditions:

     

    (i)          Grant and Restrictions.  Restricted Stock
        Units shall be subject to such restrictions on transferability, risk of forfeiture and other restrictions, if any, as the Committee may impose, which restrictions may lapse separately or in combination at such times, under such circumstances
        (including based on achievement of performance goals and/or future service requirements), in such installments or otherwise, as the Committee may determine at the Date of Grant or thereafter.  A Participant to whom Restricted Stock Units
      are awarded shall have no rights as a shareholder with respect to the Shares represented by the Restricted Stock Units, unless and until Shares are actually delivered to the Participant in settlement thereof.  The Award Agreement for Restricted Stock
      Units shall specify whether, to what extent, and on what terms and conditions, the applicable Participant shall be entitled to be credited and receive payments of cash, Stock or other property corresponding to the dividends payable on the Stock
      (subject to Section 10(k)), with such cash, Stock or other property to be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock Unit with respect to which such cash, Stock or other property has been distributed.

     

    (ii)        Forfeiture.  Except as otherwise determined by the
        Committee, upon a Participant’s Termination of Employment during the applicable restriction period, Restricted Stock Units that are at that time subject to restrictions shall be forfeited and cancelled by the Corporation.

     

    (iii)        Bookkeeping of Awards.  Unless otherwise specified by the
        Committee, Restricted Stock Units shall be credited as of the Date of Grant to a bookkeeping reserve account maintained by the Corporation.

     

    
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    (f)         Deferred Stock Units.  The Committee is authorized to grant to
        Participants Deferred Stock Units, which are rights to receive Shares, cash measured based on the value of a Share, or a combination thereof, at the end of a specified deferral period.  Unless otherwise specified by the Committee, Deferred Stock
        Units shall be credited as of the Date of Grant to a bookkeeping reserve account maintained by the Corporation under the Lincoln National Corporation Deferred Compensation and Supplemental/Excess Retirement Plan, the Lincoln National
      Corporation Deferred Compensation Plan for Non-Employee Directors or their successor plans (each a “Deferred Compensation Plan”) in units
        which are equivalent in value to Shares.  Once credited to such account, Deferred Stock Units shall be governed by the terms of the applicable Deferred Compensation Plan.

     

    (g)        Bonus Stock and Awards in Lieu of Other Obligations.  The Committee is
        authorized to grant Stock as a bonus, or to grant Stock or other Awards in lieu of obligations to pay cash or deliver other property under the Plan, or under other plans or compensatory arrangements.  Stock or Awards granted hereunder shall be
        subject to such other terms as shall be determined by the Committee.

     

    (h)         Other Stock-Based Awards.  The Committee is authorized, subject to limitations
        under applicable law, to grant to Participants such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Stock, as deemed by the Committee to be consistent with the
        purposes of the Plan, including, without limitation, convertible or exchangeable debt securities, other rights convertible or exchangeable into Stock, purchase rights for Stock, Awards with value and payment contingent upon performance of the
        Corporation or any other factors designated by the Committee, and Awards valued by reference to the book value of Stock or the value of securities of or the performance of specified Subsidiaries.  The Committee shall determine the terms and
        conditions of such Awards.  Stock delivered pursuant to an Award in the nature of a purchase right granted under this Section 6(h) shall be purchased for such consideration, paid for at such times, by such methods, and in such forms, including,
        without limitation, cash, Stock, other Awards, or other property, as the Committee shall determine.  Cash awards, as an element of or supplement to any other Award under the Plan, may also be granted pursuant to this Section 6(h).

     

    (i)          Dividend Equivalents.  The Committee is authorized to grant dividend equivalents to
      Eligible Persons under which such Eligible Persons shall be entitled to receive payments (in cash, Shares, other securities, other Awards or other property as determined in the discretion of the Committee, and subject to Section 10(k)) equivalent to
      the amount of cash dividends paid by the Corporation to holders of Shares with respect to a number of Shares determined by the Committee.  Subject to the terms of the Plan and any applicable Award Agreement, such dividend equivalents may have such
      terms and conditions as the Committee shall determine.  Notwithstanding the foregoing, (i) the Committee may not grant dividend equivalents to Eligible Persons in connection with grants of Options or SARs to such Eligible Persons, and (ii) no
      dividend equivalent payments shall be made to a Participant with respect to any Award before the date on which all conditions or restrictions relating to such Award (or portion thereof to which the dividend or dividend equivalent relates) have been
      satisfied, waived or lapsed.

     

    7.           Certain Provisions Applicable to Awards.

     

    (a)         Stand-Alone, Additional, Tandem, and Substitute Awards.  Awards granted under
        the Plan may, in the discretion of the Committee, be granted either alone, in addition to, in tandem with, or in substitution or exchange for, any other Award or any award granted under another plan of the Corporation, any Subsidiary, or any
        business entity to be acquired by the Corporation or a Subsidiary, or any other right of a Participant to receive payment from the Corporation or any Subsidiary.  Such additional, tandem, and substitute or exchange Awards may be granted at any
        time.  If an Award is granted in substitution or exchange for another Award or award, the Committee shall require the surrender of such other Award or award in consideration for the grant of the new Award.

     

    
      10

      
        

    

    (b)         No Repricing.  Except as contemplated by Section 10(c), in
      no event may any Option or SAR granted under this Plan be amended to decrease the exercise price thereof, be cancelled in exchange for cash or other Awards, or in conjunction with the grant of any new Option or SAR with a lower exercise price, or
      otherwise be subject to any action that would be treated, under the Applicable Exchange listing standards or for accounting purposes, as a “repricing” of such Option or SAR, unless such amendment, cancellation or action is approved by the
      Corporation’s shareholders.

     

    (c)         Term of Awards.  The term of each Award shall be for such period as may be
        determined by the Committee; provided that in no event shall the term of any Option or SAR exceed a period of ten (10) years from the Date of Grant (or such shorter term as may be required with respect to
        an ISO under Code section 422).

     

    (d)        Form and Timing of Payment Under Awards; Deferrals.  Subject to the terms of
        the Plan and any applicable Award Agreement, payments to be made by the Corporation upon the exercise or settlement of an Award may be made in such forms as the Committee shall determine, including, without limitation, cash, Stock, other Awards or
        other property, and, except with respect to Options or SARs which shall not be subject to deferral, may be made in a single payment or transfer, in installments, or on a deferred basis.  The settlement of any Award may be accelerated (subject to
        Section 10(j)), and cash paid in lieu of Stock in connection with such settlement, in the discretion of the Committee or upon occurrence of one or more specified events (in addition to a Change of Control).  Installment or deferred payments may be
        required by the Committee (subject to Section 10(j) and Section 11 of the Plan, including the consent provisions thereof) in the case of any deferral of an outstanding Award (other than Options or SARs which shall not be subject to deferral) not
        provided for in the original Award Agreement, and the Committee or its designee may convert such an Award (other than Options or SARs which shall not be subject to deferral) to Deferred Stock Units as provided under Section 6, or may be permitted
        at the election of the Participant on terms and conditions established by the Committee.  Payments may include, without limitation, provisions for the payment or crediting of reasonable interest on installment or deferred payments, or the grant or
        crediting of dividend equivalents, or other amounts in respect of installment or deferred payments denominated in Stock.

     

    (e)         Exemptions from Section 16(b) Liability.  It is the intent of
        the Corporation that the grant of any Awards to or other transaction by a Participant who is subject to Section 16 of the Exchange Act shall be exempt under Rule 16b-3 (except for transactions acknowledged in writing by such Participant to be
        non-exempt).  Accordingly, the composition of the Committee shall be subject to such limitations as the Board deems appropriate to permit transactions pursuant to this Plan to be exempt (pursuant to Rule 16b-3 promulgated under the Exchange
      Act) from Section 16(b) of the Exchange Act, and no delegation of authority by the Committee shall be permitted if such delegation would cause any such transaction to be subject to (and not exempt from) Section 16(b) of the Exchange Act.

     

    
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    (f)          Cancellation and Rescission of Awards.  The Committee may cancel any unexpired, unpaid, or deferred Awards at any time, whether or not vested, or rescind Awards or recoup Shares delivered in respect of Awards that have vested or been paid, and delegate this power in its discretion to the
      Corporation in the applicable Award Agreements, if the Participant is not in compliance with all applicable provisions set forth in both the Award Agreement and the
      Plan, including, but not limited to, the Plan provisions set forth below:

     

    (i)         While employed by the Corporation and thereafter during the period set forth in an Award Agreement
        (if any), a Participant shall not (A) directly or indirectly, hire, manage, solicit, or recruit any employees, agents, financial planners, salespeople, financial advisors, vendors, or service providers of the Corporation (including, but not
      limited to, doing a “lift-out” of same) whom Participant had hired, managed, supervised, or otherwise became familiar with as a result of such Participant’s service or employment with the Corporation or (B) render
        services for any organization or engage, directly or indirectly, in any business which, in the judgment of the Corporation’s Chief Executive Officer or other senior officer designated by the Committee, is or becomes competitive with the
        Corporation.  For Participants whose employment has terminated, the judgment of the Chief Executive Officer or other senior officer designated by the Committee shall be based on the Participant’s position and responsibilities while employed by the
        Corporation, the Participant’s post-employment responsibilities and position with the other organization or business, the extent of past, current, and potential competition or conflict between the Corporation and the other organization or business,
        the effect on the Corporation’s shareholders, customers, suppliers, and competitors of the Participant assuming the post-employment position, and such other considerations as are deemed relevant given the applicable facts and circumstances.  A
        Participant who has terminated employment shall be free, however, to purchase as an investment or otherwise, stock or other securities of such organization or business, so long as they are listed on a recognized securities exchange or traded
        over-the-counter, and such investment does not represent a greater than five percent (5%) equity interest in the organization or business.

     

    (ii)        A Participant shall not, without prior written authorization from the Corporation, disclose to
        anyone outside the Corporation, or use in other than the Corporation’s business, any confidential information or material relating to the business of the Corporation that is acquired by the Participant during employment with or the provision of
        services to the Corporation, except as Participant may be required to disclose by any applicable law, order, or judicial or administrative proceeding.

     

    (iii)       A Participant shall disclose promptly, and assign to the Corporation all right, title and interest
        in any invention or idea, patentable or not, made or conceived by the Participant during employment by the Corporation, relating in any manner to the actual or anticipated business, research or development work of the Corporation and shall do
        anything reasonably necessary to enable the Corporation to secure a patent where appropriate in the United States and in foreign countries.

     

    
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    (iv)        If requested by the Corporation, before or in connection with the exercise, settlement, payment or
        delivery of an Award, the Participant shall certify on a form acceptable to the Corporation that he or she is in compliance with the terms and conditions of the Plan and, if applicable, the Award Agreement.  Failure to comply with the provisions of
        this Section 7(f) before, and, for certain Participants as specified in their applicable Award Agreements, during the six (6) months after, any exercise, payment or delivery of an Award shall cause such exercise, payment or delivery to be rescinded
        immediately, unless the Committee or its designee in its discretion, in any individual case provides for waiver in whole or in part of compliance with the provisions of this Section 7(f).  The Corporation shall notify the Participant of any such
        rescission as soon as reasonably practicable after such exercise, payment or delivery.  Within ten (10) days after receiving such a notice from the Corporation, the Participant shall pay to the Corporation the amount of any gain realized on an
        Award granted pursuant to Section 6(b), or payment received from an Award granted pursuant to Section 6(c), (d), (e), (f), (h), 8(b) or (c) respectively, as a result of the rescinded exercise, payment or delivery, pursuant to an Award.  Such
        payment shall be made either in cash or by returning to the Corporation the number of Shares that the Participant received in connection with the rescinded exercise, payment or delivery, as the Corporation in its sole discretion may determine.  In
        the case of any Participant whose employment is terminated by the Corporation and its Subsidiaries without “cause” (as defined in the applicable Award Agreement), however, a failure of the Participant to comply with the provisions of Section
        7(f)(i) after such Termination of Employment shall not in and of itself cause rescission, or require repayment with respect to any Award exercised, paid or delivered before such termination, and, following a Change of Control, Section 7(f)(i) shall
        be inapplicable with respect to Awards granted before such Change of Control.

     

    (v)         Recoupment.  In addition to the cancellation, rescission and recoupment provisions set
      forth above, Awards granted under the Plan shall be subject to the terms of any recoupment (clawback) policy adopted by the Corporation as in effect from time to time, as well as any recoupment/forfeiture provisions required by law and applicable to
      the Corporation or its Subsidiaries, including, without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act; provided, however, to the extent
      permitted by applicable law, the Corporation’s recoupment (clawback) policy shall have no application to Awards following a Change of Control of the Corporation.

     

    8.           Performance and Annual Incentive Awards.

     

    (a)          Performance Conditions.  The right of a Participant to exercise or receive a
        grant or settlement of any Award, and the timing thereof, may be subject to such performance conditions as may be specified by the Committee.  The Committee may use such business criteria and other measures of performance as it may deem appropriate
        in establishing any performance conditions, and may exercise its discretion to reduce or increase the amounts payable under any Award subject to performance conditions.

     

    (b)          Performance Award Requirements.  The maximum Performance Award to be granted
        to an Eligible Person shall be subject to the limitation set forth in Section 4(d).

     

    
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    (i)         Performance Goals Generally.  The performance goals for such Performance Awards shall consist of one or more business criteria and a targeted
      level or levels of performance and associated maximum Award payments with respect to each of such criteria, as specified by the Committee consistent with this Section 8(b).  The Committee may determine that such Performance Awards shall be granted,
      exercised and/or settled upon achievement of any performance goal, or that more than one performance goal must be achieved as a condition to grant, exercise and/or settlement of such Performance Awards.  Performance goals may differ for Performance
      Awards granted to any one Participant or to different Participants.

     

    (ii)        Business Criteria.  In establishing performance goals for Performance Awards, business criteria for the Corporation, as defined by the Committee,
      on a consolidated basis, and/or for specified Subsidiaries, Affiliates or business units or segments of the Corporation (except with respect to the total shareholder return and earnings per share criteria), may be used by the Committee and such business criteria may be based on, without limitation, the following criteria:  (1) earnings (total or per share); (2) revenues or growth in revenues; (3) cash flow, change in cash flow or cash flow return
      on investment; (4) assets, return on assets, growth in assets, return on investment, capital or return on capital, return on equity, or shareholder equity (total or per share); (5) economic value added or insurance-imbedded value added; (6) operating
      margin; (7) net income or growth in net income (total or per share), pretax earnings or growth in pretax earnings (total or per share), pretax earnings before interest, depreciation and amortization, pretax operating earnings after interest expense
      and before incentives, and extraordinary or special items; (8) operating earnings or income from operations; (9) statutory income; (10) total shareholder return; (11) profit margins; (12) premiums and fees, or growth in premiums and fees, including
      service fees; (13) book value; (14) membership and growth in membership; (15) market share or change in market share; (16) stock price or change in stock price; (17) market capitalization, change in market capitalization, or return on market value;
      (18) economic value added or market value added; (19) expense ratios, expense savings, budgets, product cost reduction through advanced technology, or other expense management measures; (20) productivity ratios or other measures of operating
      efficiency or effectiveness; (21) risk-based capital ratio; (22) ratio of claims or loss costs to revenues; (23) satisfaction measures:  customer, provider, or employee; (24) implementation or completion of critical projects or processes; (25)
      product development, product release schedules, new product innovation, brand recognition/acceptance; (26) environmental, social or governance (ESG) factors (including without limitation, goals relating to diversity, inclusion, employee engagement
      and sustainability); or (27) any of the above goals as compared to the performance of a published or special index deemed applicable by the Committee including, but not limited to, the Standard & Poor’s 500 Stock Index or a group of comparator
      companies.

     

    (iii)      Performance Period.  Achievement of performance goals with respect to such Performance Awards shall be measured over a performance period, which
      may overlap with another performance period or periods, of up to ten (10) years, as specified by the Committee.

     

    (iv)       Settlement of Performance Awards; Other Terms.  Settlement of Performance Awards shall be in cash, Stock, other Awards or other property,
      including deferred payments in any such forms, in the discretion of the Committee.  The Committee may, in its discretion, adjust the amount of a settlement otherwise to be made in connection with such Performance Awards.  The Committee shall specify
      the circumstances in which such Performance Awards shall be paid or forfeited in the event of Termination of Employment by the Participant before the end of a performance period or settlement of Performance Awards.  Except as may be otherwise
      determined by the Committee, Performance Awards shall be settled and paid after the end of the relevant performance period and on or before the fifteenth (15th) day of the third (3rd) month following the end of the performance period.

     

    
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    (c)          Annual Incentive Award Requirements.  The maximum Annual Incentive Award of any Participant
      shall be subject to the limitation set forth in Section 4(d).

     

    (i)         Potential Annual Incentive Awards.  The Committee shall determine the Eligible Persons who will potentially receive Annual Incentive Awards, and
      the amounts potentially payable thereunder, for each fiscal year of the Corporation.  The amount potentially payable shall be based upon the achievement of a performance goal or goals based on one or more of the business criteria set forth in Section
      8(b)(ii) in the given performance year, as specified by the Committee or such other criteria as shall be established by the Committee.

     

    (ii)        Determination of Annual Incentive Awards.  After the end of each fiscal year of the Corporation, the Committee shall determine the amount, if
      any, of potential Annual Incentive Awards otherwise payable to each Participant.  The Committee may, in its discretion, determine that the amount payable to any Participant as a final Annual Incentive Award shall be increased or reduced from the
      amount of his or her potential Annual Incentive Award, including a determination to make no final Award whatsoever.  The Committee shall specify the circumstances in which an Annual Incentive Award shall be paid or forfeited in the event of
      Termination of Employment by the Participant before the end of a fiscal year or settlement of such Annual Incentive Award.  Except as may be otherwise determined by the Committee, Annual Incentive Awards shall be settled and paid after the end of the
      relevant fiscal year and on or before the fifteenth (15th) day of the third (3rd) month following the end of the fiscal year of the Corporation.

     

    9.           Change of Control.  In the event of a “Change of Control,” the following
        shall provisions shall apply unless otherwise provided in the applicable Award Agreement:

     

    (a)          Options and SARs.  Any Option or SAR carrying a right to exercise that was not
        previously exercisable and vested shall become fully exercisable and vested as of the time of the Participant’s involuntary Termination of Employment, other than for “cause” (as defined in the applicable Award Agreement); provided that such Termination of Employment occurs within two (2) years after such Change of Control and all vested Options and SARs shall remain exercisable for the balance of the stated term of such Option or SAR, subject only
        to applicable restrictions set forth in Section 10(a);

     

    (b)         Restricted Stock, Restricted Stock Units and Deferred Stock Units.  The restrictions, deferral of settlement, and forfeiture conditions
      applicable to any Restricted Stock, Restricted Stock Units or Deferred Stock Units granted under the Plan shall lapse and such Awards shall be deemed fully vested as of the time of the Participant’s involuntary Termination of Employment, other than
      for “cause” (as defined in the applicable Award Agreement); provided that such Termination of Employment occurs within two (2) years after such Change of Control; provided, further, that, notwithstanding the foregoing, the settlement
        of any Award that constitutes nonqualified deferred compensation under Code section 409A shall be made on the earliest permissible payment event under Code section 409A and the regulations thereunder (but shall not be subject to vesting or
        forfeiture provisions following such Termination of Employment); and

     

    
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    (c)          Other Awards.  The rights and obligations respecting, and the payment of, all
        other Awards under the Plan shall be governed solely by the provisions of the Severance Benefit Plan; provided that such Severance Benefit Plan shall not provide for vesting solely as a result of a Change
        of Control.

     

    10.         General Provisions.

     

    (a)         Compliance with Legal and Other Requirements.  The Corporation may, to the
        extent deemed necessary or advisable by the Committee, postpone the issuance or delivery of Stock or payment of other benefits under any Award until completion of such registration or qualification of such Stock or other required action under any
        federal or state law, rule or regulation, listing or other required action with respect to any stock exchange or automated quotation system upon which the Stock or other securities of the Corporation are listed or quoted, or compliance with any
        other obligation of the Corporation, as the Committee may consider appropriate, and may require any Participant to make such representations, furnish such information and comply with or be subject to such other conditions as it may consider
        appropriate in connection with the issuance or delivery of Stock or payment of other benefits in compliance with applicable laws, rules, regulations, listing requirements or other obligations.  The foregoing notwithstanding, in connection with a
        Change of Control, the Corporation shall take or cause to be taken no action, and shall undertake or permit to arise no legal or contractual obligation, that results or would result in any postponement of the issuance or delivery of Stock or
        payment of benefits under any Award or the imposition of any other conditions on such issuance, delivery or payment, to the extent that such postponement or other condition would represent a greater burden on a Participant than existed on the
        ninetieth (90th) day preceding the Change of Control.

     

    (b)          Limits on Transferability; Beneficiaries.  No Award or other right or interest
        of a Participant under the Plan shall be pledged, hypothecated or otherwise encumbered or subject to any lien, obligation or liability of such Participant to any party (other than the Corporation or a Subsidiary), or assigned or transferred by such
        Participant for value or consideration.  Awards may be transferred by will or the laws of descent and distribution or to a Beneficiary upon the death of a Participant, and such Awards or rights that may be exercisable shall be exercised during the
        lifetime of the Participant only by the Participant or his or her guardian or legal representative.  Awards and other rights (other than ISOs and SARs in tandem therewith) may be transferred to one or more Beneficiaries or other transferees other
        than for value or consideration during the lifetime of the Participant, and may be exercised by such transferees in accordance with the terms of such Award, but only if and to the extent such transfers are permitted by the Committee pursuant to the
        express terms of an Award Agreement (subject to any terms and conditions which the Committee may impose thereon).  A Beneficiary, transferee, or other person claiming any rights under the Plan from or through any Participant shall be subject to all
        terms and conditions of the Plan and any Award Agreement applicable to such Participant, except as otherwise determined by the Committee, and to any additional terms and conditions deemed necessary or appropriate by the Committee.

     

    
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    (c)          Adjustments.

     

    (i)          In the event of a merger, consolidation, acquisition of property or shares, stock rights offering, liquidation, Disaffiliation for consideration, or
      similar event affecting the Corporation or any of its Subsidiaries (each, a “Corporate Transaction”), the Committee or the Board may in its discretion make such substitutions or adjustments as it deems appropriate and equitable to (A) the
      aggregate number and kind of Shares or other securities reserved for issuance and delivery under this Plan; (B) the various maximum limitations set forth in Sections 4(a) and 4(d) upon certain types of Awards and upon the grants to individuals of
      certain types of Awards; (C) the number and kind of Shares or other securities subject to outstanding Awards; and (D) the exercise price of outstanding Awards.

     

    (ii)         In the event of a stock dividend, stock split, reverse stock split, reorganization, share combination, or recapitalization or similar event affecting the capital structure of the
      Corporation, or a Disaffiliation, separation or spinoff, in each case without consideration, or other extraordinary dividend of cash or other property to the Corporation’s shareholders, the Committee or the Board shall make such substitutions or
      adjustments as it deems appropriate and equitable to (A) the aggregate number and kind of Shares or other securities reserved for issuance and delivery under this Plan; (B) the various maximum limitations set forth in Sections 4(a) and 4(d) upon
      certain types of Awards and upon the grants to individuals of certain types of Awards; (C) the number and kind of Shares or other securities subject to outstanding Awards; and (D) the exercise price of outstanding Awards.

     

    (iii)       In the case of Corporate Transactions, such adjustments may include, without limitation, (A) the cancellation of outstanding Awards in exchange for payments of cash, property or a
      combination thereof having an aggregate value equal to the value of such Awards, as determined by the Committee or the Board in its sole discretion (it being understood that in the case of a Corporate Transaction with respect to which shareholders of
      Stock receive consideration other than publicly traded equity securities of the ultimate surviving entity, any such determination by the Committee that the value of an Option or Stock Appreciation Right shall for this purpose be deemed to equal the
      excess, if any, of the value of the consideration being paid for each Share pursuant to such Corporate Transaction over the exercise price of such Option or Stock Appreciation Right shall conclusively be deemed valid); (B) the substitution of other
      property (including, without limitation, cash or other securities of the Corporation and securities of entities other than the Corporation) for the Shares subject to outstanding Awards; and (C) in connection with a Disaffiliation, arranging for the
      assumption of Awards, or replacement of Awards with new awards based on other property or other securities (including, without limitation, other securities of the Corporation and securities of entities other than the Corporation), by the affected
      Subsidiary, Affiliate, or division or by the entity that controls such Subsidiary, Affiliate, or division following such Disaffiliation (as well as any corresponding adjustments to Awards that remain based upon Corporation securities).

     

    (iv)        The Committee is authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards (including Performance Awards and performance goals, and Annual
      Incentive Awards and performance goals relating thereto) in recognition of unusual, infrequent or nonrecurring events (including, without limitation, events described in clauses (i) and (ii) above, as well as acquisitions and dispositions of
      businesses and assets) affecting the Corporation, any Subsidiary or any business unit, or the financial statements of the Corporation or any Subsidiary, or in response to changes in applicable laws, regulations, accounting principles, tax rates and
      regulations or business conditions or in view of the Committee’s assessment of the business strategy of the Corporation, any Subsidiary or business unit thereof, performance of comparable organizations, economic and business conditions, personal
      performance of a Participant, and any other circumstances deemed relevant; provided that no such adjustment shall be made if and to the extent that such adjustment would cause Options or SARs to be treated
      under Code section 409A as the grant of a new Option or SAR.

     

    
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    (v)         Any adjustments made pursuant to this Section 10(c) to Awards that are considered “deferred compensation” within the meaning of Code section 409A shall be made in compliance with the
      requirements of Code section 409A.  Any adjustments made pursuant to this Section 10(c) to Awards that are not considered “deferred compensation” subject to Code section 409A shall be made in such a manner as to ensure that after such adjustments,
      either (A) the Awards continue not to be subject to Code section 409A or (B) there does not result in the imposition of any penalty taxes under Code section 409A in respect of such Awards.

     

    (vi)         Any adjustment under this Section 10(c) need not be the same for all Participants.

     

    (d)          Taxes.  No later than the date as of which an amount
      first becomes includible in the gross income of a Participant or taxes are otherwise due for federal, state, local or foreign income or employment or other tax purposes with respect to any Award under the Plan, such Participant shall pay to the
      Corporation, or make arrangements satisfactory to the Corporation regarding the payment of, any federal, state, local or foreign taxes of any kind required by law to be withheld with respect to such amount.  The obligations of the Corporation under
      the Plan shall be conditional on such payment or arrangements, and the Corporation and its Subsidiaries and Affiliates shall, to the extent permitted by law, have the right to deduct from any payment otherwise due to such Participant, including by withholding from any Award, any payment or distribution of Stock relating to an Award under the Plan, or any payroll or other payment to a Participant, amounts of withholding and other taxes due or potentially payable in
        connection with any transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Corporation and the Participants to satisfy obligations for the payment of withholding taxes and other tax
        obligations relating to any Award.  This authority shall include authority to withhold or receive Stock that is part of the Award that gives rise to the withholding requirement having a Fair Market Value on the date of withholding equal to
      the amount to be withheld for tax purposes or other property and to make cash payments in respect thereof in satisfaction of a Participant’s tax obligations, either on a mandatory or elective basis in the discretion of
        the Committee.  The Committee may establish such procedures as it deems appropriate, including making irrevocable elections, for the settlement of withholding obligations with Stock; provided, however, unless otherwise subsequently determined by the Committee, with respect to a Participant subject to Section 16 of the Exchange Act, the withholding of Stock by the Corporation or any of its Affiliates to
      satisfy tax, exercise price or other withholding obligations in respect of an Award shall be mandatory.

     

    (e)          Limitation on Rights Conferred Under Plan.  Neither the Plan nor any action
        taken hereunder shall be construed as (i) giving any Eligible Person or Participant the right to continue as an Eligible Person or Participant or in the employ or service of the Corporation or a Subsidiary, (ii) interfering in any way with the
        right of the Corporation or a Subsidiary to terminate any Eligible Person’s or Participant’s employment or service at any time, (iii) giving an Eligible Person or Participant any claim to be granted any Award under the Plan or to be treated
        uniformly with other Participants and Eligible Persons, or (iv) conferring on a Participant any of the rights of a shareholder of the Corporation unless and until the Participant is duly issued or transferred Shares in accordance with the terms of
        an Award.

     

    
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    (f)         Unfunded Status of Awards; Creation of Trusts.  The Plan is intended to
        constitute an “unfunded” plan for incentive and deferred compensation.  With respect to any payments not yet made to a Participant or obligation to deliver Stock pursuant to an Award, nothing contained in the Plan or any Award shall give any such
        Participant any rights that are greater than those of a general creditor of the Corporation; provided that the Committee may authorize the creation of trusts and deposit therein cash, Stock, other Awards or
        other property, or make other arrangements to meet the Corporation’s obligations under the Plan.  Such trusts or other arrangements shall be consistent with the “unfunded” status of the Plan unless the Committee otherwise determines with the
        consent of each affected Participant.  The trustee of such trusts may be authorized to dispose of trust assets and reinvest the proceeds in alternative investments, subject to such terms and conditions as the Committee may specify and in accordance
        with applicable law.

     

    (g)        Nonexclusivity of the Plan.  Neither the adoption of the Plan by the Board nor
        its submission to the shareholders of the Corporation for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other compensation and incentive arrangements for employees, agents and
        brokers of the Corporation and its Subsidiaries as it may deem desirable.

     

    (h)         Fractional Shares.  No fractional Shares shall be issued or
        delivered pursuant to the Plan or any Award.  The Committee shall determine whether cash, other Awards or other property shall be issued or paid in lieu of such fractional Shares or whether such fractional
        Shares or any rights thereto shall be forfeited or otherwise eliminated.

     

    (i)          Governing Law.  The validity, construction and effect of the Plan, any rules
        and regulations under the Plan, and any Award Agreement shall be determined in accordance with the laws of the State of Indiana, without giving effect to principles of conflicts of laws, and applicable federal law.

     

    (j)          Code Section 409A.  The Plan is intended to comply with the requirements of Code section 409A or an exemption or exclusion therefrom and, with
      respect to amounts that are subject to Code section 409A, it is intended that the Plan be interpreted and administered in all respects in accordance with Code section 409A.  Each payment under any Award that constitutes nonqualified deferred
      compensation subject to Code section 409A shall be treated as a separate payment for purposes of Code section 409A.  In no event may a Participant, directly or indirectly, designate the calendar year of any payment to be made under any Award that
      constitutes nonqualified deferred compensation subject to Code section 409A.  Notwithstanding any other provision of the Plan or any Award Agreement or any other plan, agreement or arrangement of or with the Corporation and applicable to a
      Participant to the contrary, if a Participant is a “specified employee” within the meaning of Code section 409A (as determined in accordance with the methodology established by the Corporation), amounts that constitute “nonqualified deferred
      compensation” within the meaning of Code section 409A that would otherwise be payable during the six (6)-month period immediately following a Participant’s Separation from Service by reason of such Separation from Service shall instead be paid or
      provided on the first business day of the seventh (7th) month following the month in which the Participant’s Separation from Service occurs.  If the Participant dies following the Separation from Service and before the payment of any amounts delayed
      on account of Code section 409A, such amounts shall be paid to the personal representative of the Participant’s estate within thirty (30) days following the date of the Participant’s death (with the first date following the date of the Participant’s
      death being the first day of such thirty (30)-day period).  Interest shall not accrue on such amounts during the period of delay.  Notwithstanding anything contained in the Plan, an Award Agreement or any other plan, agreement or arrangement of or
      with the Corporation and applicable to a Participant to the contrary, to the extent required for compliance with Code section 409A, a Change of Control (or similar term) shall not be deemed to occur unless such event constitutes a “change in control
      event” described in Treasury Regulations Section 1.409A-3(i)(5); provided, however, that whether or not a Change of Control is a change in control event under Code
      section 409A shall not impair a Participant’s rights with respect to the vesting of any such Award.

     

    
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    (k)          Limitation on Dividend Reinvestment and Dividend Equivalents.  Reinvestment of dividends in additional Restricted Stock at the time of any
      dividend payment, and the payment of Shares with respect to dividends to Participants holding Awards of Restricted Stock Units, shall only be permissible if sufficient Shares are available under Section 4 for such reinvestment or payment (taking into
      account then-outstanding Awards).  If sufficient Shares are not available for such reinvestment or payment, such reinvestment or payment shall be made in the form of a grant of Restricted Stock Units equal in number to the Shares that would have been
      obtained by such payment or reinvestment, the terms of which Restricted Stock Units shall provide for settlement in cash and for dividend equivalent reinvestment in further Restricted Stock Units on the terms contemplated by this Section 10(k).  Any
      dividends or dividend equivalents credited with respect to any Award, and any Restricted Stock or Restricted Stock Units received as a result of the reinvestment of dividends and dividend equivalents in respect of any Awards shall be subject to the
      same restrictions, risk of forfeiture or time and/or performance-based vesting conditions applicable to such Award and shall, if vested, be paid at the same time as such Award.

     

    11.          Term, Amendment and Termination.

     

    (a)          Effectiveness.  The Plan was approved by the Board on February 19, 2020, with respect to the issuance of Awards to be settled in Shares subject
      to and contingent upon approval by the Corporation’s shareholders.

     

    (b)          Termination.  The Plan will terminate on the tenth (10th) anniversary of the date the Corporation’s shareholders approve the Plan (or, in the
      case of ISOs, February 19, 2030).  Awards outstanding as of such date shall not be affected or impaired by the termination of the Plan.

     

    (c)         Amendment of Plan.  The Board or the Committee may amend, alter, suspend, discontinue or terminate the Plan, but no amendment, alteration or
      discontinuation shall be made that would materially and adversely affect the rights of a Participant with respect to a previously granted Award without such Participant’s consent, except such an amendment made to comply with applicable law,
      including, without limitation, Code section 409A, Applicable Exchange listing standards or accounting rules.  In addition, no amendment shall be made to the Plan without the approval of the Corporation’s shareholders to the extent such approval is
      required by applicable law or the listing standards of the Applicable Exchange.

     

    (d)         Amendment of Awards.  Subject to Section 7(b), the Committee may amend, alter, suspend, discontinue or terminate
        any Award theretofore granted and any Award Agreement relating thereto, except as otherwise provided in the Plan, but no such action shall without the Participant’s consent materially and adversely affect the rights of any Participant with
      respect to an outstanding Award, except an amendment made to cause the Plan or Award to comply with applicable law, including, without limitation, Code section 409A, Applicable Exchange listing standards or accounting rules.

     

    

     

    

    
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