Document:

Credit Agreement

 Exhibit 10.9 

CREDIT AGREEMENT 

dated as of May 6, 2010 

between 

DEUTSCHE BANK AG CAYMAN ISLANDS BRANCH, 

as Lender 

and 

NEVADA PROPERTY 1 LLC, 

as Borrower 

 TABLE OF CONTENTS 

 

					
	 	  	Page
	 ARTICLE I

	
	 DEFINITIONS

	
	 ARTICLE II

	
	 THE CREDIT

			
	 SECTION 2.1
	  	Commitment to Lend	  	5
	 SECTION 2.2
	  	Notice of Borrowing and Funding of Loans	  	6
	 SECTION 2.3
	  	Note	  	6
	 SECTION 2.4
	  	Interest; Increased Costs	  	6
	 SECTION 2.5
	  	Default Rate	  	7
	 SECTION 2.6
	  	Late Payment Premium	  	8
	 SECTION 2.7
	  	Quarterly Debt Service Payments	  	8
	 SECTION 2.8
	  	Application of Payments	  	8
	 SECTION 2.9
	  	No Setoffs	  	8
	 SECTION 2.10
	  	Loan Account	  	8
	 SECTION 2.11
	  	Prepayment	  	8
	 SECTION 2.12
	  	Advances to Pay Interest	  	9
	 SECTION 2.13
	  	Maturity	  	9
	 SECTION 2.14
	  	General Provisions as to Payments	  	9
	 SECTION 2.15
	  	No Reborrowing	  	9
	 ARTICLE III

	
	 CONDITIONS

	 SECTION 3.1
	  	Closing	  	9
	 SECTION 3.2
	  	Borrowings	  	9
	 ARTICLE IV

	
	 REPRESENTATIONS AND WARRANTIES

			
	 SECTION 4.1
	  	Existence and Power	  	10
	 SECTION 4.2
	  	Power and Authority	  	10
	 SECTION 4.3
	  	No Violation	  	10
	 SECTION 4.4
	  	Use of Proceeds; Margin Regulations	  	11
	 SECTION 4.5
	  	Governmental Approvals	  	11

					
	 ARTICLE V

	
	 AFFIRMATIVE AND NEGATIVE COVENANTS

			
	 SECTION 5.1
	  	Affirmative Covenants	  	11
	 SECTION 5.2
	  	Negative Covenants	  	13
	
	 ARTICLE VI

	
	 DEFAULTS

	 SECTION 6.1
	  	Events of Default	  	14
	 SECTION 6.2
	  	Rights and Remedies	  	15
	 ARTICLE VII

	
	 MISCELLANEOUS

			
	 SECTION 7.1
	  	Notices	  	15
	 SECTION 7.2
	  	No Waivers	  	15
	 SECTION 7.3
	  	Expenses; Indemnification	  	15
	 SECTION 7.4
	  	Amendments and Waivers	  	16
	 SECTION 7.5
	  	Successors and Assigns	  	16
	 SECTION 7.6
	  	Governing Law; Submission to Jurisdiction	  	16
	 SECTION 7.7
	  	Marshaling; Recapture	  	16
	 SECTION 7.8
	  	Counterparts; Integration; Effectiveness	  	17
	 SECTION 7.9
	  	WAIVER OF JURY TRIAL	  	17
	 SECTION 7.10
	  	Survival	  	17
	 SECTION 7.11
	  	Limitation of Liability	  	17
	 SECTION 7.12
	  	Maximum Interest Rate	  	17
	 SECTION 7.13
	  	Recourse	  	18
	 SECTION 7.14
	  	Gaming Laws	  	18

 EXHIBIT 

Exhibit A – Form of Note 

 CREDIT AGREEMENT 

CREDIT AGREEMENT, dated as of May 6, 2010, between DEUTSCHE BANK AG CAYMAN ISLANDS BRANCH (“Lender”) and NEVADA
PROPERTY 1 LLC, a Delaware limited liability company (“Borrower”). 
 W I T N
E S S E T H: 
 WHEREAS, Borrower desires to borrow from Lender, and Lender is willing
to loan to Borrower, up to Two Billion Two Hundred Twenty Two Million Dollars ($2,222,000,000) for the purposes and upon the terms set forth herein. 

NOW, THEREFORE, the parties hereby agree as follows: 

ARTICLE I 

DEFINITIONS 
 The following
terms, as used herein, have the following meanings: 
 “Adjusted LIBOR Rate” means a rate of interest per annum
determined by adding the applicable LIBOR Rate to the applicable LIBOR Margin. 
 “Advance” means each
disbursement of any portion of a Loan by Lender to Borrower pursuant to the terms of this Agreement and the other Loan Documents. 

“Affiliate” means, with respect to any specified Person, any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of
such Person, directly or indirectly, whether through the ownership of voting securities or other beneficial interest, by contract or otherwise; and the terms “controlling” and “controlled” have the meanings correlative to the
foregoing. 
 “Agreement” means this Credit Agreement as the same may from time to time hereafter be modified,
supplemented or amended. 
 “Applicable Interest Rate” has the meaning set forth in Section 2.4(c).

 “Borrower” means Nevada Property 1 LLC, a Delaware limited liability company, and its successors.

 “Business Day” means any day of the year (other than a Saturday or Sunday) on which banks are not required
or authorized by Law or Regulation to close in New York City and, if the applicable Business Day relates to any LIBOR Loan Tranche, on which dealings are carried on in the London interbank market. 

“Closing Date” means the date hereof. 

 “Commitment” means with respect to Lender, an aggregate principal amount
equal to the Maximum Loan Amount (which includes amounts already funded by Lender to Borrower as set forth in Section 2.1). 

“Debt” shall mean the outstanding principal amount of the Loan, together with all interest accrued and unpaid thereon
and all other sums due to Lender in respect of the Loan, including any sums due or any obligation of any kind owing under the Loan Documents (including any then due but unpaid (at the time of determination) reimbursement or indemnity obligation).

 “Default” means any condition or event which constitutes an Event of Default or which with the giving of
notice or lapse of time or both would, unless cured or waived, become an Event of Default. 
 “Default Rate”
means a rate per annum equal at all times to the lesser of (i) the maximum non-usurious rate permitted by Law or Regulation and (ii) three percent (3.0%) in excess of the Applicable Interest Rate. 

“Eurocurrency Liabilities” has the meaning specified in Regulation D of the Board of Governors of the Federal Reserve
System, as in effect from time to time. 
 “Event of Default” has the meaning set forth in Section 7.1.

 “Federal Reserve Board” means the Board of Governors of the Federal Reserve System as constituted from time
to time. 
 “GAAP” means generally accepted accounting principles in the United States from time to time.

 “Gaming Authorities” has the meaning set forth in Section 7.14. 

“Gaming Laws” has the meaning set forth in Section 7.14. 

“Governmental Authority” means any Federal, state or local government or any other political subdivision thereof or
agency exercising executive, legislative, judicial, regulatory or administrative functions having jurisdiction over Borrower. 

“Indemnitee” has the meaning set forth in Section 7.3(b). 

“Increased Costs” has the meaning set forth in Section 2.4(d)(iii). 

“Interest Payment Date” means the first Business Day of each calendar quarter. Interest shall accrue through and be
payable on each Interest Payment Date, in arrears (regardless of whether a LIBOR Loan Tranche has matured on such date), until the Debt is repaid in full. The first Interest Payment Date shall be determined in accordance with Section 2.7.

 “Interest Period” shall mean, with respect to each LIBOR Loan Tranche, the period commencing on the
borrowing date with respect to such LIBOR Loan Tranche or the date following the expiration of any existing Interest Period with respect thereto, and ending on the date selected in accordance with Section 2.4(a). 

 

 2 

 “Laws and Regulations” or “Law or Regulation” shall mean
all domestic or foreign laws, statutes, treaties, codes, permits, decrees, ordinances, orders (judicial, executive or administrative), rules, regulations (temporary, interim and final), directives, determinations, judgments or requirements of any
Governmental Authority. 
 “LIBOR Rate” shall mean, with respect to any Interest Period pertaining to a LIBOR
Loan Tranche, an interest rate per annum equal to the rate per annum obtained by dividing (i) the average of the respective rates per annum (rounded upward to the next whole multiple of 1/100th of 1%) posted by each of the principal London
offices of banks posting rates as displayed on Reuters Screen LIBOR01 or such other page as may replace such page on such service for the purpose of displaying the London interbank offered rate of major banks for deposits in U.S. dollars, at
approximately 11:00 A.M. (London time) two Business Days before the first day of such Interest Period for deposits in an amount substantially equal to the LIBOR Loan Tranche to be outstanding during such Interest Period and for a period equal to
such Interest Period by (ii) a percentage equal to 100% minus the LIBOR Reserve Percentage for such Interest Period. 

“LIBOR” shall mean the London Interbank Offered Rate. 

“LIBOR Loan Tranche(s)” shall mean any portion or portions of the Loan bearing interest at the Adjusted LIBOR Rate.

 “LIBOR Margin” shall mean shall mean, (a) prior to the Opening Date, 0 basis points (0%) per annum,
(b) with respect to each LIBOR Loan Tranche outstanding on the Opening Date, until the end of the Interest Period with respect to such LIBOR Loan Tranche, 0 basis points (0%) per annum and (c) following the Opening Date, 85 basis points
(0.85%) per annum, provided, with respect to each LIBOR Loan Tranches outstanding on the Opening Date, such rate shall not be applicable until after the Interest Period that is in effect on the Opening Date with respect thereto expires. 

“LIBOR Reserve Percentage” for any Interest Period for all LIBOR Loan Tranches means the reserve percentage applicable
two (2) Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including
any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any
other category of liabilities that includes deposits by reference to which the interest rate on LIBOR Loan Tranches is determined) having a term equal to such Interest Period. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any
kind, or any other type of preferential arrangement that has the practical effect of creating a security interest, in respect of such asset. 

“Loan” shall mean each Advance and all Advances in the aggregate made pursuant to this Agreement and the other Loan
Documents and evidenced by the Note. 
 “Loan Status Report” means a report in a form, as mutually agreed to by
Lender and Borrower, which sets forth, among other things, each Advance and the accrual of interest with respect to each Advance. 

“Loan Documents” means this Agreement and the Note. 

 

 3 

 “Loss” shall mean any and all losses, liabilities, damages, punitive
damages, demands, claims, actions, judgments, causes of action, assessments, penalties, costs and expenses (including sums paid in settlement of claims), liens, interest, fines or penalties, including the fees and disbursements of accountants,
consultants, experts and reasonable legal fees and disbursements, and all other costs and expenses of any kind and/or nature. 

“Material Adverse Effect” means a material adverse effect upon (i) the business, operations, properties or assets
of Borrower taken as a whole or (ii) the ability of Borrower to perform its obligations hereunder in all material respects, including to pay interest and principal. 

“Maturity Date” has the meaning set forth in Section 2.13. 

“Margin Stock” shall have the meaning provided such term in Regulation U and Regulation G of the Federal Reserve Board.

 “Maximum Loan Amount” means an aggregate principal amount not to exceed Two Billion Two Hundred Twenty Two
Million Dollars ($2,222,000,000). 
 “Member” has the meaning set forth therefore in the Operating Agreement.

 “Note” means the promissory note of Borrower, substantially in the form of Exhibit A hereto,
evidencing the obligation of Borrower to repay the Maximum Loan Amount or so much thereof as may have been advanced. 

“Notice of Borrowing” has the meaning set forth in Section 2.2(a). 

“Opening Day” means the first day that the Project is open to the public for business. 

“Operating Agreement” means that certain Limited Liability Company Agreement of Borrower, dated as of April 2,
2010, as the same may be amended, restated, supplemented or otherwise modified with the consent of Lender. 
 “Other
Taxes” has the meaning set forth in Section 2.4(e). 
 “Outstanding Balance” means the aggregate
outstanding and unpaid principal balance of the Loan. 
 “Permitted Purpose” means payment of (i) the
costs of constructing and completing the Project, (ii) Project operating deficits and (iii) interest on the Loan to the extent cash flow is insufficient to pay the same after paying the costs of operating the Project. 

“Person” means an individual, a corporation, a partnership, a limited liability company, an association, a trust or any
other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

“Project” means the development of the Property for a multi-use, multi-tower resort and casino development project
consisting of, among other things, hotel operations, condominium components, condo-hotel units, gaming operations, multiple food and beverage outlets, nightclub, spa/fitness center and other ancillary uses. 

 

 4 

 “Property” means at any time, the ownership interests in real property and
other assets owned either by Borrower or its Subsidiaries, including, without limitation, the premises known as “The Cosmopolitan of Las Vegas” located at 3700 Las Vegas Boulevard South, Las Vegas, Nevada 89109. 

“RBC Change” has the meaning given to such term in Section 2.4(d). 

“Regulatory Change” means any change after the date of this Agreement in any Law or Regulation or the adoption or the
making, after such date, of any Law or Regulation or of any interpretations, directives or requests of any Law or Regulation applying to a class of banks or Persons Controlling banks, including any Lender or any Person Controlling a Lender, by any
Governmental Authority. 
 “Risk-Based Capital Guidelines” shall have the meaning given to such term in
Section 2.4(d). 
 “Subsidiary” means any corporation or other entity of which securities or other
ownership interests representing either (i) ordinary voting power to elect a majority of the board of directors or other persons performing similar functions or (ii) a majority of the economic interest therein, are at the time directly or
indirectly owned by Borrower. 
 “Taxes” means all real estate and personal property taxes, assessments, fees,
taxes on rents or rentals, water rates or sewer rents, and other charges under Governmental Authority now or hereafter levied or assessed or imposed against Borrower or the Property or which may become Liens. 

“Transfer” means directly or indirectly sell, assign, convey, mortgage, transfer, pledge, hypothecate, encumber, grant a
security interest in, exchange or otherwise dispose of any beneficial interest or grant any option or warrant with respect to, or where used as a noun, a direct or indirect sale, assignment, conveyance, transfer, pledge or other disposition of any
beneficial interest by any means whatsoever whether voluntary, involuntary, by operation of law or otherwise. 
 “United
States” means the United States of America, including the States and the District of Columbia, but excluding its territories and possessions. 

“Voteco” means Nevada Voteco LLC. 

ARTICLE II 
 THE
CREDIT 
 SECTION 2.1 Commitment to Lend. Subject to and upon the terms and conditions set forth herein, Lender hereby
agrees, in its sole discretion, it may make Loans to Borrower in an amount up to the amount of its Commitment. Lender shall be under no obligation to fund any unfunded portion of its Commitment and may terminate any unfunded portion of its
Commitment at any time upon written notice to Borrower. Lender and Borrower agree that prior to the date hereof Lender has advanced to Borrower, as of April 30, 2010, the sum of Two Billion Two Hundred Thirteen Million Forty Nine Thousand Five
Hundred and Seventy Six Dollars ($2,213,049,576), which includes accrued interest through such date. All such borrowing are evidenced by the Note and this Agreement and constitute a funded portion of the Commitment. Borrower hereby agrees to accept
the Loan, subject to and upon the terms and conditions set forth herein. 
  

 5 

 SECTION 2.2 Notice of Borrowing and Funding of Loans. 

(a) Borrower shall give Lender notice (a “Notice of Borrowing”) not later than 2:00 p.m. (New York City time) three
(3) Business Days before each Advance specifying: 
 (i) the date of such Advance, which shall be a Business
Day, 
 (ii) the amount of such Advance, and 

(iii) the intended use of the proceeds of such Advance, which shall be only for a Permitted Purpose, 

accompanied by a Loan Status Report reflecting such Advance and all changes with respect to the Loan occurring since the prior Loan Status Report.

 (b) Not later than 2:00 p.m. (New York City time) on the date of each Advance, provided the conditions in Section 3.2
are complied with, and Lender elects to fund such Advance, Lender shall make such Advance available to Borrower, in Federal or other immediately available funds or shall notify Borrower that it is electing not to make such Advance. 

SECTION 2.3 Note. The Loan shall be evidenced by the Note. 

SECTION 2.4 Interest; Increased Costs. 

(a) The Interest Period for each Advance hereunder, and subsequent Interest Periods upon the expiration of an Interest Period hereunder,
shall be determined by Borrower and Lender on or before the date of each Advance or expiring Interest Period, as applicable, and all borrowings hereunder with the same Interest Period shall constitute a single LIBOR Loan Tranche. In the absence of
any agreement to the contrary, each Interest Period shall be ninety (90) days, provided, (1) if any Interest Period pertaining to a LIBOR Loan Tranche would otherwise end on a day that is not a Business Day, such Interest Period shall be
extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such Interest Period shall end on the immediately preceding Business Day, (2) any
Interest Period that would otherwise extend beyond the Maturity Date shall end on the Maturity Date and (3) any Interest Period pertaining to a LIBOR Loan Tranche that begins on the last Business Day of a calendar month (or on a day for which
there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the applicable subsequent calendar month. Borrower or Lender may agree an Interest Period shorter or longer
than ninety (90) days at their discretion. With respect to borrowings existing on the date hereof, the current existing Interest Period with respect thereto shall be applicable. 

(b) Interest on the Loan and the Note shall accrue at the Applicable Interest Rate and shall be calculated on the basis of a year of 360
days for the actual number of days elapsed in the applicable Interest Period; provided that the first day of the Interest Period shall be included and, if the interest is timely paid, the last day of said Interest Period shall be excluded.

 (c) The rate or rates at which the outstanding principal amount of the Loan bears interest from time to time shall be
referred to as the “Applicable Interest Rate”, including, where applicable, the Default Rate. Subject to the terms and conditions of this Section 2.4(c), Borrower, shall pay accrued interest on the outstanding principal amount
of the Loan at the Applicable Interest Rate on each Interest Payment Date, regardless of when the applicable Interest Period for a LIBOR Loan Tranche expires. Each determination by Lender of the Applicable Interest Rate shall be conclusive and
binding for all purposes, absent manifest error. The Applicable Interest Rate with respect to each LIBOR Loan Tranche shall be a rate per annum equal at all times to the Adjusted LIBOR Rate applicable to such LIBOR Loan Tranche. 

 

 6 

 (d) If as a result of any Regulatory Change or RBC Change: 

(i) the basis of taxation of payments to Lender of the principal of or interest on the Loan is changed; or 

(ii) any reserve, special deposit or similar requirements (other than such requirements as are taken into account in
determining the LIBOR Rate) relating to any extensions of credit or other assets of, or any deposits with or other liabilities of any Lender is imposed, modified or deemed applicable to any Lender; or 

(iii) any other condition affecting the Loan is imposed on Lender and Lender reasonably determines that, by reason
thereof, the cost to Lender of making or maintaining the Loan is increased or its rate of return is reduced, or any amount receivable by Lender hereunder in respect of any portion of the Loan is reduced, in each case by an amount deemed by Lender to
be material (such increases in cost, reductions in amounts receivable and other matters and conditions referred to in clauses (i), (ii) and (iii) being herein referred to as “Increased Costs”), 

then Borrower agrees that it will pay to Lender upon Lender’s request such additional amount or amounts as will compensate Lender for such Increased
Costs. Lender will notify Borrower of any event occurring after the date hereof which will entitle Lender to compensation pursuant to this Section 2.4(d) after it obtains knowledge thereof and Lender determined to request such compensation
hereunder. As used in this Section 2.4(d), the term “Lender” shall mean “Lender or any Person Controlling Lender”. “RBC Change” shall mean (1) any change after the date of this Agreement in the
Risk-Based Capital Guidelines or (2) adoption of or change in any Law or Regulation after the date of this Agreement which affects the amount of capital required or expected to be maintained by Lender or any lending office or any Person
Controlling Lender. “Risk-Based Capital Guidelines” shall mean (x) the risk-based capital guidelines in effect in the United States on the date of this Agreement, including transition rules and (y) the corresponding
capital regulations promulgated by regulatory authorities outside the United States implementing the July 1988 report of the Basel Committee on Banking Regulation and Supervisory Practices entitled “International Convergence of Capital
Measurements and Capital Standards,” including transition rules, and any amendments to such regulations adopted prior to the date of this Agreement. 

(e) In addition, Borrower agrees to pay any present or future stamp or documentary taxes, state or local taxes, excise or property taxes,
charges or similar levies which arise from any payment made hereunder, or from the execution, delivery, recording or registration of, or otherwise with respect to, this Agreement or the Loan (collectively, “Other Taxes”). Other
Taxes shall not include any taxes imposed on the overall net income of Lender by the jurisdiction under the Laws or Regulations of which Lender is organized or any franchise taxes imposed on Lender in lieu thereof. 

(f) Borrower shall indemnify Lender for the full amount of Taxes and Other Taxes (including any Taxes or Other Taxes imposed by any
Governmental Authority on amounts payable under this Section 2.4) paid by Lender and any Loss arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted. Payment under this
indemnification shall be made within ten (10) days after the date Lender makes written demand therefore. 
 SECTION 2.5
Default Rate. If an Event of Default shall have occurred and be continuing (including, without limitation, the failure of Borrower to make a payment of interest on an Interest Payment Date or failure of the Borrower to repay the Loan in full
on the Maturity Date), Borrower shall 
  

 7 

 
pay interest at the Default Rate on the Debt. Payment or acceptance of the Default Rate is not a permitted alternative to timely payment or full performance by Borrower, shall not constitute a
waiver of any Default or Event of Default or an amendment to this Agreement or any other Loan Document and shall not otherwise prejudice or limit any rights or remedies of Lender. 

SECTION 2.6 Late Payment Premium. Borrower shall pay to Lender a late payment premium in the amount of three percent (3%) of
any portion of the Debt which is due and payable (other than the payment of principal payable on the Maturity Date), and which remains unpaid more than five (5) calendar days after the due date thereof, which late payment premium shall in all
cases be due with any such late payment. The acceptance of a late payment premium shall not constitute a waiver of any Default or Event of Default then existing or thereafter arising. Further, Lender’s failure to collect a late payment premium
at any time shall not constitute a waiver of Lender’s right to thereafter, at any time and from time to time (including upon acceleration of the Note or upon payment in full of the Debt), to collect such previously uncollected late payment
premiums or to collect subsequently accruing late payment premiums. 
 SECTION 2.7 Quarterly Debt Service Payments. Prior
to the Opening Date, interest shall accrue and be added to the amount of the Debt. On each and every Interest Payment Date occurring from and after the Opening Date, until the Debt has been paid in full, Borrower shall, subject to Section 2.4,
pay interest in arrears at the Applicable Interest Rate on the outstanding principal balance of the Loan as computed in accordance with Section 2.4. 

SECTION 2.8 Application of Payments. Payments made by Borrower in respect of the principal and interest of the Loan shall be
applied first to the payment of interest at the Applicable Interest Rate, second to other sums due and outstanding under the Loan Documents and third, the remainder of such payment, to the reduction of the outstanding principal balance of the Debt,
provided that following the occurrence and during the continuance of an Event of Default, Lender may apply any payments received to the Debt in such order, manner and amount as Lender in its sole discretion shall determine and Lender may exercise
any rights and remedies available under this Agreement, the other Loan Documents, at law and in equity. 
 SECTION 2.9 No
Setoffs. The Debt shall be payable without setoff, counterclaim or any other deduction whatsoever. 
 SECTION 2.10 Loan
Account. Lender shall maintain a loan account on its books in the name of Borrower in which will be recorded the Loan and all payments and prepayments of principal of and interest on the Loan (provided that any error in such loan account shall
not in any manner affect the obligations of Borrower to repay the Debt in accordance with the terms of the Loan Documents, and Lender and Borrower acknowledge that Lender’s ability to maintain such loan account shall be dependent on, among
other things, Borrower’s accurate reporting of payments made in accordance herewith and Lender’s objection to any inaccuracies therein). 

SECTION 2.11 Prepayment. 

(a) Subject to the terms and conditions set forth in this Section 2.11, Borrower may prepay the Loan in whole or in part at any time
during the term of the Loan. 
 (b) If all or any part of the principal amount of the Loan is prepaid after acceleration of the
Loan following the occurrence of an Event of Default, Borrower shall be obligated to pay all accrued and unpaid interest on the principal balance of the Note to the date of repayment (including interest owed at the Default Rate), all other sums then
due under the Loan Documents and all Losses of Lender incurred in connection with such Event of Default, including reasonable attorneys’ fees and disbursements. 

 

 8 

 (c) Borrower agrees to indemnify and defend Lender and to hold Lender harmless from and
against any loss or expense which Lender sustains or incurs as a consequence of any LIBOR contract breakage costs that Lender incurs as a result of a prepayment (whether voluntary or mandatory) of a LIBOR Loan Tranche on a day that is not the end of
an Interest Period with respect thereto. 
 SECTION 2.12 Advances to Pay Interest. Borrower hereby irrevocably authorizes
Lender to disburse proceeds of the Loan to pay interest accrued on the Note as it comes due. 
 SECTION 2.13 Maturity.
The term of the Commitment shall commence on the date hereof and terminate and expire on the earlier to occur of (a) December 15, 2015 and (b) the occurrence of an Event of Default (the “Maturity Date”). On the
Maturity Date, Borrower shall be obligated to repay the Debt in full. 
 SECTION 2.14 General Provisions as to Payments.
Borrower shall make each payment of principal of, and interest on, the loans hereunder, not later than 2:00 p.m. (New York City time) on the date when due, in Federal or other funds immediately available in New York City, to Lender at its address
referred to in Section 7.1. Whenever any payment of principal of, or interest on, the loans shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next succeeding Business Day. If the date for
any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time. 

SECTION 2.15 No Reborrowing. Any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed. 

ARTICLE III 

CONDITIONS 

SECTION 3.1 Closing. On the Closing Date: 

(a) Borrower shall have executed and delivered to Lender the Note; 

(b) Borrower shall have executed and delivered to Lender a duly executed original of this Agreement; 

(c) Lender shall have received all documents Lender may reasonably request relating to the existence of Borrower, the authority for and
the validity of this Agreement and the other Loan Documents, and any other matters relevant hereto, all in form and substance reasonably satisfactory to Lender; and 

(d) Borrower shall have taken all actions required to authorize the execution and delivery of this Agreement and the other Loan Documents
and the performance thereof by Borrower. 
 SECTION 3.2 Borrowings. The obligation of Lender to make an Advance is
subject to the satisfaction of the following conditions: 
 (a) receipt by Lender of a Notice of Borrowing as required by
Section 2.2; 
  

 9 

 (b) immediately after such borrowing, the Outstanding Balance will not exceed the amount of
the Commitment; 
 (c) immediately before and after such borrowing, no Default or Event of Default shall have occurred and be
continuing both before and after giving effect to the making of such loan; 
 (d) the representations and warranties of Borrower
contained in this Agreement (other than representations and warranties which speak as of a specific date) shall be true and correct in all material respects on and as of the date of such borrowing both before and after giving effect to the making of
such loan; 
 (e) no law or regulation shall have been adopted, no order, judgment or decree of any governmental authority shall
have been issued, and no litigation shall be pending or threatened, which does or, with respect to any threatened litigation, seeks to enjoin, prohibit or restrain, the making or repayment of the loan or the consummation of the transactions
contemplated hereby; and 
 (f) no event, act or condition shall have occurred after the Closing Date which, in the reasonable
judgment of Lender has had or is likely to have a Material Adverse Effect. 
 Each Advance hereunder shall be deemed to be a representation and
warranty by Borrower on the date of such Advance as to the facts specified in clauses (b) through (e) of this Section (except that with respect to clause (e), such representation and warranty shall be deemed to be limited to laws,
regulations, orders, judgments, decrees and litigation applicable to Borrower which Borrower has knowledge of). 
 ARTICLE IV

 REPRESENTATIONS AND WARRANTIES 

In order to induce Lender to enter into this Agreement, Borrower makes the following representations and warranties as of the date
hereof. Such representations and warranties shall survive the effectiveness of this Agreement, the execution and delivery of the other Loan Documents and the making of the loans. 

SECTION 4.1 Existence and Power. Borrower is duly organized, validly existing and in good standing as a limited liability company
under the laws of the State of Delaware and has all powers and all material governmental licenses, authorizations, consents and approvals required to own its property and assets and carry on its business as now conducted and has been duly qualified
and is in good standing in every jurisdiction in which the failure to be so qualified and/or in good standing is likely to have a Material Adverse Effect. 

SECTION 4.2 Power and Authority. Borrower has the power and authority to execute, deliver and carry out the terms and provisions
of each of the Loan Documents and has taken all necessary action to authorize the execution and delivery on behalf of Borrower and the performance by Borrower of the Loan Documents. Borrower has duly executed and delivered each Loan Document to
which it is a party, and each such Loan Document constitutes the legal, valid and binding obligation of Borrower, enforceable in accordance with its terms, except as enforceability may be limited by applicable insolvency, bankruptcy or other laws
affecting creditors rights generally, or general principles of equity, whether such enforceability is considered in a proceeding in equity or at law. 

SECTION 4.3 No Violation. Neither the execution, delivery or performance by or on behalf of Borrower of the Loan Documents, nor
compliance by Borrower with the terms and provisions 
  

 10 

 
thereof nor the consummation of the transactions contemplated by the Loan Documents, (i) will contravene any applicable provision of any law, statute, rule, regulation, order, writ,
injunction or decree of any court or governmental instrumentality applicable to Borrower or (ii) will conflict with or result in any breach of, any of the terms, covenants, conditions or provisions of, or constitute a default under, or result
in the creation or imposition of (or the obligation to create or impose) any lien upon any of the property or assets of Borrower pursuant to the terms of any material indenture, mortgage, deed of trust, or other agreement or other instrument to
which Borrower (or of any partnership of which Borrower is a partner) is a party or by which it or any of its property or assets is bound or to which it is subject or (iii) will cause a default by Borrower under any organizational document of
any Subsidiary, or cause a default under Borrower’s managing member’s organizational documents. 
 SECTION 4.4 Use
of Proceeds; Margin Regulations. All proceeds of the loans will be used by Borrower only in accordance with the provisions hereof. No part of the proceeds of any loan will be used by Borrower to purchase or carry any Margin Stock or to extend
credit to others for the purpose of purchasing or carrying any Margin Stock. Neither the making of any loan nor the use of the proceeds thereof will violate or be inconsistent with the provisions of Regulations G, T, U or X of the Federal Reserve
Board. 
 SECTION 4.5 Governmental Approvals. No order, consent, approval, license, authorization, or validation of, or
filing, recording or registration with, or exemption by, any governmental or public body or authority, or any subdivision thereof, is required to authorize, or is required in connection with the execution, delivery and performance of any Loan
Document or the consummation of any of the transactions contemplated thereby other than those that have already been duly made or obtained and remain in full force and effect and those which will be made or obtained in the ordinary course of
business. 
 ARTICLE V 

AFFIRMATIVE AND NEGATIVE COVENANTS 

SECTION 5.1 Affirmative Covenants. From the Closing Date until payment and performance in full of all Debt of Borrower under the
Loan Documents, in accordance with the terms of this Agreement and the other Loan Documents, Borrower covenants and agrees with Lender that: 

(a) Financial Reporting. Borrower shall deliver to Lender: 

(i) as soon as available and in any event within five (5) days after the same is required to be filed with the
Securities and Exchange Commission (but in no event later than fifty (50) days after the end of each of the first, second and third fiscal quarters of Borrower), the unaudited consolidated balance sheet of Borrower and its Subsidiaries as at
the end of such period and the related unaudited consolidated statements of income, shareholders’ equity and cash flows of Borrower and its Subsidiaries for such period, setting forth in each case in comparative form the figures as of the end
of and for the corresponding periods of the previous fiscal year, all of which shall be certified by the chief executive officer or chief financial officer of Borrower, in his or her opinion, to present fairly, in accordance with GAAP and in all
material respects, the consolidated financial position of Borrower and its Subsidiaries as at the date thereof and the results of operations for such period (subject to normal year-end audit adjustments); 

(ii) as soon as available and in any event within five (5) days after the same is required to be filed with the
Securities and Exchange Commission (but in no event later than ninety-five (95) days after the end of each fiscal year of Borrower), the audited consolidated 

 

 11 

 
balance sheet of Borrower and its Subsidiaries as at the end of such fiscal year and the related audited consolidated statements of income, shareholders’ equity and cash flows of Borrower
and its Subsidiaries for such fiscal year, setting forth in comparative form the figures as at the end of and for the previous fiscal year, all of which shall be (a) certified by the chief executive officer or chief financial officer of
Borrower, in his or her opinion, to present fairly, in accordance with GAAP and in all material respects, the consolidated financial position of Borrower and its Subsidiaries as at the date thereof and the results of operations for such period and
(b) accompanied by the report thereon of independent certified public accountants of recognized national standing acceptable to Lender, whose certificate shall be unqualified; 

(iii) as soon as available and in any event within five (5) days after the same is filed with the Securities and
Exchange Commission, notice of the filing of all registration statements, reports on Forms 10-K, 10-Q and 8-K (or their equivalents) and all other periodic reports which Borrower or any Subsidiary shall file with the Securities and Exchange
Commission (or any Governmental Authority substituted therefor); 
 (iv) within five (5) days of the end of
each calendar month, monthly financial statements; and 
 (v) from time to time such additional information
regarding the financial position or business of Borrower as Lender may reasonably request. 
 (b) Maintenance of Property;
Insurance. 
 (i) Borrower will keep the Property in good repair, working order and condition, subject to
ordinary wear and tear. 
 (ii) Borrower, at its sole cost and expense shall maintain such insurance with respect
to the Property and its other assets as required by Lender from time to time, in its sole discretion. 
 (c) Compliance with
Laws. Borrower will comply in all material respects with all applicable laws, ordinances, rules, regulations, and requirements of Governmental Authorities except where the compliance therewith is contested in good faith by appropriate
proceedings. 
 (d) Inspection of Property, Books and Records. Borrower will keep proper books of record and account in
which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities; and will permit representatives of Lender at Lender’s expense to visit and inspect the Property, to examine and make
abstracts from any of its books and records and to discuss its affairs, finances and accounts with its officers and employees, all at such reasonable times, upon reasonable notice, and as often as may reasonably be required. 

(e) Existence. 

(i) Borrower shall do or cause to be done all things necessary to preserve and keep in full force and effect its limited
liability company existence. 
 (ii) Borrower shall do or cause to be done all things necessary to preserve and
keep in full force and effect its patents, trademarks, servicemarks, trade names, copyrights, franchises, licenses, permits, certificates, authorizations, qualifications, accreditations, easements, rights of way and other rights, consents and
approvals the nonexistence of which is likely to have a Material Adverse Effect. 
  

 12 

 SECTION 5.2 Negative Covenants. From the Closing Date until payment and performance
in full of all Debt of Borrower under the Loan Documents, in accordance with the terms of this Agreement and the other Loan Documents, Borrower covenants and agrees with Lender that it will not, without the prior written consent of Lender to,
directly or indirectly, do any of the following with respect to Borrower or any of its subsidiaries: 
 (a) amend or modify any
of its organizational documents; 
 (b) dissolve, wind-up, terminate, liquidate, merge with or consolidate into another Person;

 (c) change its principal place of business or executive office; 

(d) create any new Subsidiaries or enter into any joint venture with any Person; 

(e) Transfer any material interest in the Property (including, without limitation, any component or condominium interest therein),
Borrower or any subsidiary of Borrower to any Person, including, without limitation, any public offering of shares in Borrower; 

(f) enter into any borrowing arrangement with a third-party; 

(g) create, assume or suffer to exist any material Lien or encumbrance of any kind with respect to the Property or any Subsidiary;

 (h) enter into any line of business unrelated to the operation of the Project at the Property; 

(i) enter into any investments with maturity dates of greater than ninety (90) days; 

(j) make or hold any investments in any other Person, other than wholly-owned subsidiaries of Borrower; 

(k) enter into any contract, lease or other agreement, commitment, arrangement or transaction that involves annual payments in excess of
Five Million Dollars ($5,000,000) or has a term of greater than five (5) years; 
 (l) enter into any transaction of any
kind with any Affiliate of Borrower, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to Borrower or such Subsidiary as would be obtainable by Borrower or such Subsidiary at the
time in a comparable arm’s length transaction with a Person other than an Affiliate, but subject to the provisions of Section 5.2(m); 

(m) make payments or loans to Voteco or any member of Voteco, other than indemnification and reimbursement payment contemplated by the
Operating Agreement or other agreements to which Borrower or its affiliates are a party, or enter into any agreement with Voteco or a member of Voteco; 
  

 13 

 (n) commingle its assets with the assets of any of its Affiliates (other than wholly-owned
Subsidiaries); 
 (o) guaranty any obligations of any Person that is not a wholly-owned subsidiary of Borrower; 

(p) establish or change bank accounts or establish or change policies for investing corporate funds; or 

(q) change its fiscal year. 

ARTICLE VI 

DEFAULTS 

SECTION 6.1 Events of Default. If one or more of the following events (“Event of Default”) shall have occurred
and be continuing: 
 (a) Borrower shall fail to repay the Loan in full on the Maturity Date or Borrower shall fail to pay when
due any interest payment or Borrower shall fail to pay when due any other amounts payable hereunder; 
 (b) Borrower shall fail
to observe or perform any covenant contained in Sections 5.1(b)(ii) or 5.2; 
 (c) Borrower shall fail to observe or perform any
covenant or agreement contained in this Agreement (other than those covered by clause (a) or (b) above) for thirty (30) days after written notice thereof has been given to Borrower by Lender; 

(d) Borrower shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to
itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, or
shall consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail
generally to pay its debts as they become due, or shall take any corporate action to authorize any of the foregoing; 
 (e) an
involuntary case or other proceeding shall be commenced against Borrower seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking
the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of sixty
(60) days; or an order for relief shall be entered against Borrower under the federal bankruptcy laws as now or hereafter in effect; 

(f) Borrower shall default in its obligations under any Loan Document other than this Agreement beyond any applicable notice and grace or
cure periods; or 
 (g) Borrower shall be in default under any other material indebtedness of Borrower, beyond applicable notice
and cure periods. 
  

 14 

 SECTION 6.2 Rights and Remedies. Upon the occurrence of any Event of Default
described in Sections 6.1(d) or 6.1(e), the unpaid principal amount of, and any and all accrued interest on, the loans and any and all accrued fees and other Debt hereunder shall automatically become immediately due and payable, with all additional
interest from time to time accrued thereon and without presentation, demand, or protest or other requirements of any kind (including, without limitation, valuation and appraisement, diligence, presentment, notice of intent to demand or accelerate
and notice of acceleration), all of which are hereby expressly waived by Borrower; and upon the occurrence and during the continuance of any other Event of Default, Lender may exercise any of its rights and remedies hereunder and by written notice
to Borrower, declare the unpaid principal amount of and any and all accrued and unpaid interest on the loans and any and all accrued fees and other Debt hereunder to be, and the same shall thereupon be, immediately due and payable with all
additional interest from time to time accrued thereon and without presentation, demand, or protest or other requirements of any kind other than as provided in the Loan Documents (including, without limitation, valuation and appraisement, diligence,
presentment, and notice of intent to demand or accelerate), all of which are hereby expressly waived by Borrower. Upon the occurrence of a Default or an Event of Default and during the continuance thereof, Lender shall have no obligation to advance
any loan proceeds to Borrower. 
 ARTICLE VII 

MISCELLANEOUS 

SECTION 7.1 Notices. All notices, requests and other communications to any party hereunder shall be in writing (including telex,
facsimile transmission or similar writing) and shall be given to such party in the case of Borrower or Lender, at its address or telecopy number set forth on the signature pages hereof. Each such notice, request or other communication shall be
effective (i) if given by telecopy, when such telecopy is transmitted to the telecopy number specified in this Section (if confirmation is sent by other means within three (3) Business Days), (ii) if given by certified mail, return
receipt requested, 72 hours after such communication is deposited in the mails with certified postage prepaid, addressed as aforesaid or (iii) if given by any other means, when delivered at the address specified in this Section. 

SECTION 7.2 No Waivers. No failure or delay by Lender in exercising any right, power or privilege hereunder or under any Loan
Document shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be
cumulative and not exclusive of any rights or remedies provided by law. 
 SECTION 7.3 Expenses; Indemnification.

 (a) Borrower shall pay, if an Event of Default occurs, all out-of-pocket expenses incurred by Lender including, without
limitation, reasonable fees and disbursements of counsel for Lender, in connection with the enforcement of the Loan Documents. 

(b) Borrower agrees to indemnify Lender and its affiliates and their respective directors, officers, agents and employees (each an
“Indemnitee”) and hold each Indemnitee harmless from and against any and all liabilities, losses, damages, costs and expenses of any kind, including, without limitation, the reasonable fees and disbursements of counsel and
settlements and settlement costs, which may be reasonably incurred by such Indemnitee in connection with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party thereto) that may at any
time be imposed on, asserted against or incurred by any Indemnitee as a result of, or arising related to or by reason of, (i) any of the transactions contemplated by the Loan Documents or the execution, delivery

  

 15 

 
or performance by Borrower of any Loan Document (including, without limitation, Borrower’s actual or proposed use of proceeds of the loans, whether or not in compliance with the provisions
hereof), (ii) any violation by Borrower or any of its Affiliates of any applicable environmental law, (iii) any claim arising out of the management, use, control, ownership or operation of property or assets by Borrower or any of its
Affiliates, (iv) the breach of any representation or warranty set forth herein, and (v) the exercise by Lender of its rights and remedies hereunder (but excluding, as to any Indemnitee, any such losses, liabilities, claims, damages,
expenses, obligations, penalties, actions, judgments, suits, costs or disbursements incurred solely by reason of the Indemnitee’s violation of any Loan Document or the gross negligence or willful misconduct of such Indemnitee as finally
determined by a court of competent jurisdiction). Borrower’s obligations under this Section shall survive the termination of this Agreement and the payment of the Debt. 

SECTION 7.4 Amendments and Waivers. Any provision of this Agreement, or any Loan Document may be amended or waived if, but only
if, such amendment or waiver is in writing and is signed by Borrower and Lender. 
 SECTION 7.5 Successors and Assigns.

 (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns. 
 (b) Borrower may not assign or otherwise transfer any of its rights under this Agreement or
the other Loan Documents without the prior written consent of Lender. 
 SECTION 7.6 Governing Law; Submission to
Jurisdiction. 
 (a) THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND
THEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING GENERAL OBLIGATIONS LAW SECTION 5-1401. 

(b) Any legal action or proceeding with respect to this Agreement or any other Loan Document and any action for enforcement of any
judgment in respect thereof may be brought in the courts of the State of New York or of the United States of America for the Southern District of New York, and, by execution and delivery of this Agreement, Borrower hereby accepts for itself and in
respect of its property, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts and appellate courts from any thereof. Borrower irrevocably consents to the service of process out of any of the aforementioned courts in
any such action or proceeding by the hand delivery, or mailing of copies thereof by registered or certified mail, postage prepaid, to Borrower at its address set forth herein. Borrower hereby irrevocably waives any objection which it may now or
hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection with this Agreement or any other Loan Document brought in the courts referred to above and hereby further irrevocably waives and
agrees not to plead or claim in any such court that any such action or proceeding brought in any such court has been brought in an inconvenient forum. Nothing herein shall affect the right of Lender to serve process in any other manner permitted by
law or to commence legal proceedings or otherwise proceed against Borrower in any other jurisdiction. 
 SECTION 7.7
Marshaling; Recapture. Lender shall not be under any obligation to marshal any assets in favor of Borrower or any other party or against or in payment of any or all of the Debt. To the extent Lender receives any payment by or on behalf of
Borrower, which payment or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to 

 

 16 

 
Borrower or its estate, trustee, receiver, custodian or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then to the extent of such payment or
repayment, the Obligation or part thereof which has been paid, reduced or satisfied by the amount so repaid shall be reinstated by the amount so repaid and shall be included within the liabilities of Borrower to Lender as of the date such initial
payment, reduction or satisfaction occurred. 
 SECTION 7.8 Counterparts; Integration; Effectiveness. This Agreement may
be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement constitutes the entire agreement and understanding among the
parties hereto and supersedes any and all prior agreements and understandings, oral or written, relating to the subject matter hereof. 

SECTION 7.9 WAIVER OF JURY TRIAL. EACH OF BORROWER AND LENDER HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY
LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 SECTION 7.10
Survival. All indemnities set forth herein shall survive the execution and delivery of this Agreement and the other Loan Documents and the making and repayment of the loans hereunder. 

SECTION 7.11 Limitation of Liability. No claim may be made by Borrower or any other Person against Lender or its affiliates,
directors, officers, employees, attorneys or agent for any consequential or punitive damages in respect of any claim for breach of contract or any other theory of liability arising out of or related to the transactions contemplated by this Agreement
or by the other Loan Documents, or any act, omission or event occurring in connection therewith; and Borrower hereby waives, releases and agrees not to sue upon any claim for any such damages, whether or not accrued and whether or not known or
suspected to exist in its favor. 
 SECTION 7.12 Maximum Interest Rate. It is the intention of the parties hereto to
conform strictly to the usury and other laws relating to interest from time to time in force, and this Agreement is hereby expressly limited so that in no contingency or event whatsoever, whether by acceleration of maturity hereof or otherwise,
shall the amount paid or agreed to be paid to Lender, or collected by Lender or for the use, forbearance or detention of the money to be loaned hereunder or otherwise, or for the payment or performance of any covenant or obligation contained herein
or any other Loan Document exceeds the maximum amount permissible under applicable usury or other laws of similar import (the “Maximum Amount”). If under any circumstances whatsoever fulfillment of any provision hereof or any other
Loan Document at the time performance of such provision shall be due, shall involve transcending the Maximum Amount, then ipso facto, the obligation to be fulfilled shall be reduced to the Maximum Amount. For the purposes of calculating the actual
amount of interest paid and/or payable hereunder, in respect of laws pertaining to usury or laws of similar import, all sums paid or agreed to be paid to the holder hereof for the use, forbearance or detention of the indebtedness of Borrower
evidenced hereby, outstanding from time to time shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread from the date of disbursement of the proceeds under this Agreement, until payment in full of all of such
indebtedness, so that the actual rate of interest on account of such indebtedness is uniform through the term hereof. If under any circumstances Lender shall ever receive an amount deemed interest by applicable law, which would exceed the Maximum
Amount, such amount that would be excessive interest under applicable usury laws or laws of similar import shall be applied by Lender in payment of the Loan Amount until such time as the interest rate decreases below the Maximum Amount. 

 

 17 

 SECTION 7.13 Recourse. All borrowings hereunder are fully recourse to Borrower and
all assets of Borrower. 
 SECTION 7.14 Gaming Laws. Borrower and Lender acknowledge that Borrower is an applicant for
certain licenses, permits, approvals and authorizations with the gaming authorities of the State of Nevada (the “Gaming Authorities”) and Borrower is subject to the regulatory jurisdiction of such Gaming Authorities. Lender
acknowledges and agrees that it shall cooperate with the Gaming Authorities in connection with the administration of their regulatory jurisdiction over Borrower, including by providing such documents and other information as may be requested by the
Gaming Authorities relating to Lender or the Loan. At such time as Borrower is licensed by the Gaming Authorities, this Agreement shall be subject to the Laws and Regulations of the State of Nevada relating to the ownership, operation and conduct of
gaming (the “Gaming Laws”) and all rights, remedies and powers provided in the Loan Documents may be exercised only to the extent that the exercise thereof does not violate any applicable provisions of the Gaming Laws. 

[REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK] 

 

 18 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

					
	Lender’s Address	 	 DEUTSCHE BANK AG CAYMAN ISLANDS BRANCH

			
	Deutsche Bank AG Cayman Islands Branch	 		 	
	60 Wall Street	 		 	
	New York, New York 10005	 		 	
	Attn. Margoth Pilla	 	By:	 	 /s/ James Griffith

	Tel. (212) 250-4653	 		 	 Title: Managing Director

			
		 	By:	 	 /s/ Stuart Clarke

		 		 	 Title: Managing Director

			
		 		 	NEVADA PROPERTY 1 LLC, a Delaware limited liability company
	Borrower’s Address:	 		 	
	 Nevada Property 1 LLC
 c/o The
Cosmopolitan of Las Vegas,
	 		 	
	4285 Polaris Avenue	 	By:	 	 /s/ Jeffrey Burge

	Las Vegas, Nevada 89103	 		 	 Title: Chief Financial Officer

	Tel. (702) 215-5501	 		 	
		 	By:	 	 /s/ John Unwin

		 		 	 Title: Chief Executive Officer

 EXHIBIT A 

PROMISSORY NOTE 
  

			
	$2,222,000,000	  	New York, New York
		  	May 6, 2010

 FOR VALUE RECEIVED,
the undersigned, NEVADA PROPERTY 1 LLC, a Delaware limited liability company, having an address at c/o The Cosmopolitan of Las Vegas, 4285 Polaris Avenue, Las Vegas, Nevada 89103 (“Borrower”), hereby promises to pay to the
order of DEUTSCHE BANK AG CAYMAN ISLANDS BRANCH, having an office at 60 Wall Street, New York, New York 10005 as Lender (“Holder”), its successors and assigns, on or before the Maturity Date, the principal sum of Two Billion
Two Hundred Twenty Two Million Dollars ($2,222,000,000.00), in lawful money of the United States of America together with interest therein to be computed and paid as specified in the Credit Agreement (as defined below). 

Except as otherwise defined or limited herein, capitalized terms used herein shall have the meanings ascribed to them in that certain
Credit Agreement, dated as of the date hereof, by and between Borrower and Holder (as the same may be amended, modified, supplemented or restated from time to time, the “Credit Agreement”). 

The Credit Agreement, among other things, contains provisions for acceleration of the maturity hereof upon the failure of Borrower to pay
when due interest on this promissory note (this “Note”) or any other amount due under the Credit Agreement or any other Loan Documents, or the happening of certain other stated events and also for optional prepayments on account of
principal hereof prior to the Maturity Date on the terms and conditions therein specified and all terms and provisions of the Credit Agreement are hereby made a part of this Note to the same extent and with the same force as if they were set forth
fully herein. 
 Borrower hereby agrees that, if an Event of Default shall have occurred and is continuing, Borrower shall pay
interest at the Default Rate on the outstanding amount of the Loan and accrued but unpaid interest thereon, upon demand from time to time, to the extent permitted by applicable law. 

All notices or other communications required or permitted to be given pursuant hereto shall be given in the manner specified in
Section 7.1 of the Credit Agreement directed to the parties at their respective addresses as provided therein. 
 THIS NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. TO THE FULLEST EXTENT PERMITTED BY LAW, BORROWER HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION
GOVERNS THIS NOTE. 
 ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST THE HOLDER ARISING OUT OF OR RELATING TO THIS NOTE SHALL BE
INSTITUTED IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK, AND BORROWER HEREBY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND BORROWER HEREBY IRREVOCABLY SUBMITS TO THE
JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING. 
  

 A-1 

 TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER, AND HOLDER (BY ITS ACCEPTANCE
HEREOF), HEREBY AGREE NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THIS NOTE, OR ANY CLAIM, COUNTERCLAIM
OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY THE PARTIES HERETO AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL
BY JURY WOULD OTHERWISE ACCRUE. THE BORROWER AND THE HOLDER ARE HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER. 

In the event that Holder retains counsel to collect all or any part of the Debt, Borrower agrees to pay the out-of-pocket costs of
collection incurred by Holder, including reasonable attorneys’ fees. 
 This Note may not be modified, amended, waived,
extended, changed, discharged or terminated orally or by any act or failure to act on the part of Borrower or Holder, but only by an agreement in writing signed by the party against whom enforcement of any modification, amendment, waiver, extension,
change, discharge or termination is sought. 
 Whenever used, the singular number shall include the plural, the plural the
singular, and the words “Holder” and “Borrower” shall include their respective successors, assigns, heirs, executors and administrators as permitted by the Loan Documents. 

Any provision of this Note, which may be determined by competent authority to be prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. Each such invalid or unenforceable provision will be ineffective only to the extent of such invalidity or unenforceability, and this Note otherwise construed to the greatest extent possible to
accomplish fairly the purposes and intentions of the parties hereto. 
 (BALANCE OF PAGE LEFT INTENTIONALLY BLANK)

  

 A-2 

 IN WITNESS WHEREOF, Borrower has caused this Note to be duly executed on the day and
year first above written. 
  

			
	 BORROWER:

	
	 NEVADA PROPERTY 1 LLC, a Delaware limited liability company

		
	By:	 	 /s/ Jeffrey Burge

		 	Title: Chief Financial Officer
		
	By:	 	 /s/ John Unwin

		 	Title: Chief Executive Officer

  

 A-3Amended and Restated 2005 Incentive Plan

 Exhibit 10.01 

ALIGN TECHNOLOGY, INC. 

2005 INCENTIVE PLAN 

(amended March 2010) 

1. Purposes of the Plan. The purposes of this Plan are: 

 

	 	•	 	 to attract and retain the best available personnel for positions of substantial responsibility, 

 

	 	•	 	 to provide incentives to individuals who perform services to the Company, and 

 

	 	•	 	 to promote the success of the Company’s business. 

The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, SARs, Restricted Stock Units,
Performance Units, Performance Shares and other stock or cash awards as the Administrator may determine. 
 2.
Definitions. As used herein, the following definitions will apply: 
 (a) “Administrator”
means the Board or any of its Committees as will be administering the Plan, in accordance with Section 4 of the Plan. 

(b) “Affiliate” means any corporation or any other entity (including, but not limited to, partnerships
and joint ventures) controlling, controlled by, or under common control with the Company. 
 (c)
“Applicable Laws” means the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the
Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan. 

(d) “Award” means, individually or collectively, a grant under the Plan of Options, Restricted Stock,
SARs, Restricted Stock Units, Performance Units, Performance Shares and other stock or cash awards as the Administrator may determine. 

(e) “Award Agreement” means the written or electronic agreement setting forth the terms and provisions
applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 

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

(g) “Change in Control” means the occurrence of any of the following events: 

(i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the
“beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then
outstanding voting securities; or 
 (ii) The consummation of the sale or disposition by the Company of all or
substantially all of the Company’s assets; 
 (iii) A change in the composition of the Board occurring
within a two-year period, as a result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” means directors who either (A) are Directors as of the effective date of the Plan, or (B) are
elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but will not include an individual whose election or nomination is in
connection with an actual or threatened proxy contest relating to the election of directors to the Company); or 
  

 A-1 

 (iv) The consummation of a merger or consolidation of the Company with any
other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or
consolidation. 
 (h) “Code” means the Internal Revenue Code of 1986, as amended. Any reference
to a section of the Code herein will be a reference to any successor or amended section of the Code. 
 (i)
“Committee” means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board in accordance with Section 4 hereof. 

(j) “Common Stock” means the common stock of the Company. 

(k) “Company” means Align Technology, Inc., a Delaware corporation, or any successor thereto. 

(l) “Consultant” means any person, including an advisor, engaged by the Company or its Affiliate to
render services to such entity. 
 (m) “Determination Date” means the latest possible date that
will not jeopardize the qualification of an Award granted under the Plan as “performance-based compensation” under Section 162(m) of the Code. 

(n) “Director” means a member of the Board. 

(o) “Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code,
provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the
Administrator from time to time. 
 (p) “Employee” means any person, including Officers and
Directors, employed by the Company or its Affiliates. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company. 

(q) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(r) “Fair Market Value” means, as of any date, the value of Common Stock as the Administrator may
determine in good faith by reference to the price of such stock on any established stock exchange or a national market system on the day of determination if the Common Stock is so listed on any established stock exchange or a national market system.
If the Common Stock is not listed on any established stock exchange or a national market system, the value of the Common Stock as the Administrator may determine in good faith. 

(s) “Fiscal Year” means the fiscal year of the Company. 

(t) “Incentive Stock Option” means an Option that by its terms qualifies and is otherwise intended to
qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 

(u) “Inside Director” means a Director who is an Employee. 

(v) “Misconduct” means the commission of any act of fraud, embezzlement or dishonesty by the Participant,
any unauthorized use or disclosure by such person of confidential information or trade secrets of the Company or its Affiliates, or any other intentional misconduct by such person adversely affecting the business or affairs of the Company or its
Affiliates in a material manner. The foregoing definition will not in any way preclude or restrict the right of the Company or its Affiliates to discharge or dismiss any Participant for any other acts or omissions, but such other acts or omissions
will not be deemed, for purposes of the Plan, to constitute grounds for termination for Misconduct. 
  

 A-2 

 (w) “Nonstatutory Stock Option” means an Option that by its
terms does not qualify or is not intended to qualify as an Incentive Stock Option. 
 (x)
“Officer” means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 

(y) “Option” means a stock option granted pursuant to the Plan. 

(z) “Outside Director” means a Director who is not an Employee. 

(aa) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code. 
 (bb) “Participant” means the holder of an outstanding Award.

 (cc) “Performance Goals” will have the meaning set forth in Section 12 of the Plan.

 (dd) “Performance Period” means any Fiscal Year of the Company or such other period as
determined by the Administrator in its sole discretion. 
 (ee) “Performance Share” means an
Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10. 

(ff) “Performance Unit” means an Award which may be earned in whole or in part upon attainment of
performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10. 

(gg) “Period of Restriction” means the period during which the transfer of Shares of Restricted Stock are
subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other events as
determined by the Administrator. 
 (hh) “Plan” means this 2005 Incentive Plan. 

(ii) “Restricted Stock” means Shares issued pursuant to a Restricted Stock award under Section 7 of
the Plan, or issued pursuant to the early exercise of an Option. 
 (jj) “Restricted Stock Unit”
means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to Section 9. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 

(kk) “Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect
when discretion is being exercised with respect to the Plan. 
 (ll) “Section 16(b)” means
Section 16(b) of the Exchange Act. 
 (mm) “Service Provider” means an Employee, Director
or Consultant. 
 (nn) “Share” means a share of the Common Stock, as adjusted in accordance with
Section 18 of the Plan. 
 (oo) “Stock Appreciation Right” or “SAR” means
an Award, granted alone or in connection with an Option, that pursuant to Section 8 is designated as a SAR. 

(pp) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as
defined in Section 424(f) of the Code. 
 3. Stock Subject to the Plan. 

(a) Stock Subject to the Plan. Subject to the provisions of Section 18 of the Plan, the maximum aggregate
number of Shares that may be awarded and sold under the Plan is 13,283,379 Shares (3,300,000 Shares plus 9,983,379 Shares which is the number of Shares that had been reserved but not issued under the

  

 A-3 

 
Company’s 2001 Stock Incentive Plan (the “2001 Plan”) as of March 28, 2005), plus up to an aggregate of 5,000,000 Shares that are or would have been returned to the 2001
Plan as a result of termination of options or repurchase of Shares on or after March 28, 2005. The Shares may be authorized, but unissued, or reacquired Common Stock. 

(b) Full Value Awards. Any Shares subject to Options or SARs will be counted against the
numerical limits of this Section 3 as one Share for every Share subject thereto. Any Shares subject to Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units with a per share or unit purchase price lower than 100% of
Fair Market Value on the date of grant will be counted against the numerical limits of this Section 3 as one and one-half (1 1/
2) Shares for every one (1) Share subject thereto. To the extent that a Share that was subject to an Award that counted as one and one-half
(1 1/2) Shares against the Plan reserve pursuant to
the preceding sentence is recycled back into the Plan under the next paragraph of this Section 3, the Plan will be credited with one and one-half
(1 1/2) Shares. 

(c) Lapsed Awards. If an Award expires or becomes unexercisable without having been exercised in full or, with
respect to an Award of Restricted Stock Units, Performance Units or Performance Shares, is terminated due to failure to vest, the unpurchased Shares (or for Awards other than Options or SARs, the unissued Shares) which were subject thereto will
become available for future grant or sale under the Plan (unless the Plan has terminated). Upon the exercise of a SAR settled in Shares, the gross number of Shares covered by the portion of the Award so exercised will cease to be available under the
Plan. Shares that have actually been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of
Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units are repurchased by the Company or are forfeited to the Company due to failure to vest, such Shares will become available for future grant under the Plan. Shares used
to pay the exercise or purchase price of an Award and/or to satisfy the tax withholding obligations related to an Award will not become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash
rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 18, the maximum number of Shares that
may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3(a), plus, to the extent allowable under Section 422 of the Code and the Treasury Regulations promulgated thereunder, any
Shares that become available for issuance under the Plan under this Section 3(c). 
 (d) Share
Reserve. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan. 

4. Administration of the Plan. 

(a) Procedure. 

(i) Multiple Administrative Bodies. Different Committees with respect to different groups of Service Providers may
administer the Plan. 
 (ii) Section 162(m). To the extent that the Administrator determines it to be
desirable to qualify Awards granted hereunder as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan will be administered by a Committee of two or more “outside directors” within the
meaning of Section 162(m) of the Code. 
 (iii) Rule 16b-3. To the extent desirable to qualify
transactions hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. 
  

 A-4 

 (iv) Other Administration. Other than as provided above, the Plan
will be administered by (A) the Board or (B) a Committee, which committee will be constituted to satisfy Applicable Laws. 

(b) Powers of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to
the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 

(i) to determine the Fair Market Value; 

(ii) to select the Service Providers to whom Awards may be granted hereunder; 

(iii) to determine the number of Shares to be covered by each Award granted hereunder; 

(iv) to approve forms of Award Agreements for use under the Plan; 

(v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder.
Such terms and conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any
restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; 

(vi) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; 

(vii) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating
to sub-plans established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign laws; 

(viii) to modify or amend each Award (subject to Section 23(c) of the Plan) including, without limitation, the
discretionary authority to extend the post-termination exercisability period of Awards longer than is otherwise provided for in the Plan. Notwithstanding the previous sentence, the Administrator may not modify or amend an Option or SAR to reduce the
exercise price of such Option or SAR after it has been granted (except for adjustments made pursuant to Section 18) nor may the Administrator cancel any outstanding Option or SAR and replace it with a new Option or SAR with a lower exercise
price, unless, in either case, such action is approved by the Company’s stockholders; 
 (ix) to allow
Participants to satisfy withholding tax obligations in such manner as prescribed in Section 19; 
 (x) to
authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Administrator; 

(xi) to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that would otherwise be
due to such Participant under an Award pursuant to such procedures as the Administrator may determine; 
 (xii)
to grant in addition to the incentives described in Sections 6, 7, 8, 9, and 10 below, other incentives payable in cash or Shares under the Plan as determined by the Administrator to be in the best interests of the Company and subject to any terms
and conditions the Administrator deems advisable; and 
 (xiii) to make all other determinations deemed necessary
or advisable for administering the Plan. 
 (c) Effect of Administrator’s Decision. The
Administrator’s decisions, determinations and interpretations will be final and binding on all Participants and any other holders of Awards. 

(d) No Liability. Under no circumstances will the Company, its Affiliates, the Administrator, or the Board incur
liability for any indirect, incidental, consequential or special damages (including lost profits) of any form incurred by any person, whether or not foreseeable and regardless of the form of the act in which such a claim may be brought, with respect
to the Plan or the Company’s, its Affiliates’, the Administrator’s or the Board’s roles in connection with the Plan. 
  

 A-5 

 5. Eligibility. Nonstatutory Stock Options, Restricted Stock, Stock Appreciation
Rights, Restricted Stock Units, Performance Units, Performance Shares and such other cash or stock awards as the Administrator determines may be granted to Service Providers. Incentive Stock Options may be granted only to Employees of the Company or
any Parent or Subsidiary of the Company. 
 6. Stock Options. Subject to the terms and conditions of the Plan, an Option
may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 

(a) Limitations. 

(i) Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock
Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under
all plans of the Company and any Parent or Subsidiary) exceeds $100,000, such Options will be treated as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options will be taken into account in the order in which
they were granted. The Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted. 

(ii) The following limitations will apply to grants of Options: 

(1) No Service Provider will be granted, in any Fiscal Year, Options or SARs to purchase more than 1,000,000 Shares.

 (2) In connection with his or her initial service, a Service Provider may be granted Options or SARs to
purchase up to an additional 1,000,000 Shares, which will not count against the limit set forth in Section 6(a)(ii)(1) above. 

(3) The foregoing limitations will be adjusted proportionately in connection with any change in the Company’s
capitalization as described in Section 18. 
 (4) If an Option or SAR is cancelled in the same Fiscal Year
in which it was granted (other than in connection with a transaction described in Section 18), the cancelled Option or SAR, as applicable, will be counted against the limits set forth in subsections (1) and (2) above. For this
purpose, if the exercise price of an Option or SAR is reduced, the transaction will be treated as a cancellation of the Option or SAR, as applicable, and the grant of a new Option or SAR, as applicable. 

(b) Term of Option. The term of each Option will be seven (7) years from the date of grant or such shorter
term as may be provided in the Award Agreement as determined by the Administrator in its sole discretion. Moreover, in the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock
representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5) years from the date of grant or such
shorter term as may be provided in the Award Agreement. 
 (c) Option Exercise Price and Consideration.

 (i) Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an
Option will be determined by the Administrator, subject to the following: 
 (1) In the case of an Incentive
Stock Option 
 a) granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock
representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than 110% of the Fair Market Value per Share on the date of grant.

 b) granted to any Employee other than an Employee described in paragraph a) immediately above, the per Share
exercise price will be no less than 100% of the Fair Market Value per Share on the date of grant. 
  

 A-6 

 (2) In the case of a Nonstatutory Stock Option, the per Share exercise
price will be determined by the Administrator, but will be no less than 100% of the Fair Market Value per Share on the date of grant. 

(3) Notwithstanding the foregoing, Options may be granted with a per Share exercise price of less than 100% of the Fair
Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code. 

(ii) Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period
within which the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised. 

(iii) Option Agreement. Each Option grant will be evidenced by an Award Agreement that will specify the exercise
price, the term of the Option, the acceptable forms of consideration for exercise (which may include any form of consideration permitted by Section 6(c)(iv), the conditions of exercise, and such other terms and conditions as the Administrator,
in its sole discretion, will determine. 
 (iv) Form of Consideration. The Administrator will determine
the acceptable form(s) of consideration for exercising an Option, including the method of payment, to the extent permitted by Applicable Laws. 

(d) Exercise of Option. 

(i) Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to
the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share. 

An Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the
Administrator specifies from time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with applicable tax withholdings). Full payment may consist
of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are
issued, except as provided in Section 18 of the Plan. 
 (ii) Termination of Relationship as a Service
Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s termination as a result of the Participant’s death, Disability or Misconduct, the Participant may exercise his or her Option within such
period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a
specified time in the Award Agreement, the Option will remain exercisable for three (3) months following the Participant’s termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not
vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified by the Administrator, the
Option will terminate, and the Shares covered by such Option will revert to the Plan. 
 (iii) Disability of
Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the
Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for
twelve (12) months following the Participant’s termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested
portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

  

 A-7 

 (iv) Death of Participant. If a Participant dies while a Service
Provider, the Option may be exercised following the Participant’s death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the Option be exercised
later than the expiration of the term of such Option as set forth in the Award Agreement), by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to Participant’s death in a form acceptable to the
Administrator. If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the
Participant’s will or in accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following Participant’s death. Unless
otherwise provided by the Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so
exercised within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

7. Restricted Stock. 

(a) Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and
from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. 

(b) Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will
specify the Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Notwithstanding the foregoing sentence, for Restricted Stock intended to qualify as
“performance-based compensation” within the meaning of Section 162(m) of the Code, during any Fiscal Year no Participant will receive more than an aggregate of 500,000 Shares of Restricted Stock; provided, however, that in connection
with a Participant’s initial service as an Employee, for Restricted Stock intended to qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code, an Employee may be granted an aggregate of up to
an additional 500,000 Shares of Restricted Stock. The foregoing limitations will be adjusted proportionately in connection with any change in the Company’s capitalization as described in Section 18. Unless the Administrator determines
otherwise, Shares of Restricted Stock will be held by the Company as escrow agent until the restrictions on such Shares have lapsed. 

(c) Transferability. Except as provided in this Section 7, Shares of Restricted Stock may not be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction. 

(d) Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of
Restricted Stock as it may deem advisable or appropriate. 
 (e) Removal of Restrictions. Except as
otherwise provided in this Section 7, Shares of Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction. The restrictions
will lapse at a rate determined by the Administrator; provided, however, that Shares of Restricted Stock will vest no earlier than one-third (1/3rd) of the total number Shares of Restricted Stock subject to an Award each year from the date of
grant, unless the Administrator determines that the Award is to vest upon the achievement of a performance objective, provided the period for measuring performance will be at least twelve months. After the grant of Restricted Stock, the
Administrator, in its sole discretion, may reduce or waive any restrictions for such Restricted Stock upon or in connection with a Change in Control or upon or in connection with a Participant’s termination of service, including, without
limitation, due to death or Disability. 
 (f) Voting Rights. During the Period of Restriction, Service
Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 
  

 A-8 

 (g) Dividends and Other Distributions. During the Period of
Restriction, Service Providers holding Shares of Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares unless the Administrator provides otherwise. If any such dividends or distributions
are paid in Shares, the Shares will be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid. 

(h) Return of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for
which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 
 8.
Stock Appreciation Rights. 
 (a) Grant of SARs. Subject to the terms and conditions of the Plan, a
SAR may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 

(b) Number of Shares. The Administrator will have complete discretion to determine the number of SARs granted to
any Participant, provided that during any Fiscal Year, no Participant will be granted SARs or Options covering more than 1,000,000 Shares. Notwithstanding the foregoing limitation, in connection with a Participant’s initial service as an
Employee, an Employee may be granted SARs or Options covering up to an additional 1,000,000 Shares. The foregoing limitations will be adjusted proportionately in connection with any change in the Company’s capitalization as described in
Section 18. 
 (c) Exercise Price and Other Terms. The Administrator, subject to the provisions of
the Plan, will have complete discretion to determine the terms and conditions of SARs granted under the Plan, provided, however, that the exercise price will be not less than one hundred percent (100%) of the Fair Market Value of a Share on the
date of grant. Notwithstanding the foregoing provisions of this Section 8(c), Stock Appreciation Rights may be granted with a per Share exercise price of less than one hundred percent (100%) of the Fair Market Value per Share on the date
of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code and the Treasury Regulations thereunder. 

(d) SAR Agreement. Each SAR grant will be evidenced by an Award Agreement that will specify the exercise price, the
term of the SAR, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

(e) Expiration of SARs. A SAR granted under the Plan will expire upon the date determined by the Administrator, in
its sole discretion, and set forth in the Award Agreement; provided, however, that the term will be no more than seven (7) years from the date of grant thereof. Notwithstanding the foregoing, the rules of Section 6(d) also will apply to
SARs. 
 (f) Payment of SAR Amount. Upon exercise of a SAR, a Participant will be entitled to receive
payment from the Company in an amount determined by multiplying: 
 (i) The difference between the Fair Market
Value of a Share on the date of exercise over the exercise price; times 
 (ii) The number of Shares with respect
to which the SAR is exercised. 
 At the discretion of the Administrator, the payment upon SAR exercise may be in cash, in Shares of equivalent
value, or in some combination thereof. 
 9. Restricted Stock Units. 

(a) Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the
Administrator. After the Administrator determines that it will grant Restricted Stock Units under the Plan, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of
Restricted Stock Units. Notwithstanding anything to the contrary in this subsection (a), for Restricted Stock Units intended to qualify as “performance-based compensation” 

 

 A-9 

 
within the meaning of Section 162(m) of the Code, during any Fiscal Year of the Company, no Participant will receive more than an aggregate of 500,000 Restricted Stock Units. Notwithstanding
the limitation in the previous sentence, for Restricted Stock Units intended to qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code, in connection with his or her initial service as an
Employee, an Employee may be granted an aggregate of up to an additional 500,000 Restricted Stock Units. The foregoing limitations will be adjusted proportionately in connection with any change in the Company’s capitalization as described in
Section 18. 
 (b) Vesting Criteria and Other Terms. The Administrator will set vesting criteria in
its discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant; provided, however, that Awards of Restricted Stock Units (other than any
Awards granted to Outside Directors) will vest no earlier than one-third (1/3) of the total number of units subject to such Award each year from the date of grant, unless the Administrator determines that the Award is to vest upon the
achievement of a performance objective, provided the period for measuring performance will be at least twelve months. The Administrator may set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals
(including, but not limited to, continued employment), or any other basis determined by the Administrator in its discretion. 

(c) Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant will be entitled
to receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to
receive a payout and may accelerate the time at which any restrictions will lapse or be removed. 
 (d) Form
and Timing of Payment. Payment of earned Restricted Stock Units will be made as soon as practicable after the date(s) set forth in the Award Agreement or as otherwise provided in the applicable Award Agreement or as required by Applicable Laws.
The Administrator, in its sole discretion, may pay earned Restricted Stock Units in cash, Shares, or a combination thereof. Shares represented by Restricted Stock Units that are fully paid in cash again will not reduce the number of Shares available
for grant under the Plan. 
 (e) Cancellation. On the date set forth in the Award Agreement, all unearned
Restricted Stock Units will be forfeited to the Company. 
 (f) Section 162(m) Performance
Restrictions. For purposes of qualifying grants of Restricted Stock Units as “performance-based compensation” under Section 162(m) of the Code, the Administrator, in its discretion, may set restrictions based upon the achievement
of Performance Goals. The Performance Goals will be set by the Administrator on or before the Determination Date. In granting Restricted Stock Units which are intended to qualify under Section 162(m) of the Code, the Administrator will follow
any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Award under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

10. Performance Units and Performance Shares. 

(a) Grant of Performance Units/Shares. Performance Units and Performance Shares may be granted to Service Providers
at any time and from time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete discretion in determining the number of Performance Units/Shares granted to each Participant provided that
during any Fiscal Year, for Performance Units/Shares intended to qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code, (a) no Participant will receive Performance Units having an initial
value greater than $5,000,000, and (b) no Participant will receive more than 500,000 Performance Shares. Notwithstanding the foregoing limitation, for Performance Units/Shares intended to qualify as “performance-based compensation”
within the meaning of Section 162(m) of the Code, in connection with a Participant’s initial service as an Employee, an Employee may be granted up to an additional 500,000 Performance Shares. The foregoing limitations will be adjusted
proportionately in connection with any change in the Company’s capitalization as described in Section 18. 
  

 A-10 

 (b) Value of Performance Units/Shares. Each Performance Unit will
have an initial value that is established by the Administrator on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. 

(c) Performance Objectives and Other Terms. The Administrator will set performance objectives or other vesting
provisions (including, without limitation, continued status as a Service Provider) in its discretion which, depending on the extent to which they are met, will determine the number or value of Performance Units/Shares that will be paid out to the
Service Providers. The time period during which the performance objectives or other vesting provisions must be met will be called the “Performance Period.” Each Award of Performance Units/Shares will be evidenced by an Award Agreement that
will specify the Performance Period, and such other terms and conditions as the Administrator, in its sole discretion, will determine; provided, however, that Awards of Performance Units/Shares (other than any Awards granted to Outside Directors)
will vest no earlier than one-third (1/3) of the total number of units or Shares subject to such Award each year from the date of grant, unless the Administrator determines that the Award is to vest upon the achievement of a performance
objective, provided the period for measuring performance will be at least twelve months. The Administrator may set performance objectives based on the achievement of Company-wide, divisional, or individual goals, applicable federal or state
securities laws, or any other basis determined by the Administrator in its discretion. 
 (d) Earning of
Performance Units/Shares. After the applicable Performance Period has ended, the holder of Performance Units/Shares will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance
Period, to be determined as a function of the extent to which the corresponding performance objectives or other vesting provisions have been achieved. After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce
or waive any performance objectives or other vesting provisions for such Performance Unit/Share upon or in connection with a Change in Control or upon or in connection with a Participant’s termination of service, including, without limitation,
due to death or Disability. 
 (e) Form and Timing of Payment of Performance Units/Shares. Payment of
earned Performance Units/Shares will be made as soon as practicable after the expiration of the applicable Performance Period, or as otherwise provided in the applicable Award Agreement or as required by Applicable Laws. The Administrator, in its
sole discretion, may pay earned Performance Units/Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period) or in a
combination thereof. 
 (f) Cancellation of Performance Units/Shares. On the date set forth in the Award
Agreement, all unearned or unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. 

(g) Section 162(m) Performance Restrictions. For purposes of qualifying grants of Performance Units/Shares as
“performance-based compensation” under Section 162(m) of the Code, the Administrator, in its discretion, may set restrictions based upon the achievement of Performance Goals. The Performance Goals will be set by the Administrator on
or before the Determination Date. In granting Performance Units/Shares which are intended to qualify under Section 162(m) of the Code, the Administrator will follow any procedures determined by it from time to time to be necessary or
appropriate to ensure qualification of the Award under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

11. Other Cash or Stock Awards. In addition to the incentives described in Sections 6 through 10 above, the Administrator may
grant other incentives payable in cash or Shares under the Plan as it determines to be in the best interests of the Company and subject to such other terms and conditions as it deems appropriate, provided that in any Fiscal Year, a Participant will
not receive a cash Award under this Section in excess of $5,000,000. 
 12. Performance-Based Compensation Under Code
Section 162(m). 
 (a) General. If the Administrator, in its discretion, decides to grant an
Award intended to qualify as “performance-based compensation” under Section 162(m) of the Code, the provisions of this Section 12 will 

 

 A-11 

 
control over any contrary provision in the Plan; provided, however, that the Administrator may in its discretion grant Awards that are not intended to qualify as “performance-based
compensation” under Section 162(m) of the Code to such Participants that are based on Performance Goals or other specific criteria or goals but that do not satisfy the requirements of this Section 12. 

(b) Performance Goals. The granting and/or vesting of Awards of Restricted Stock, Restricted Stock Units,
Performance Shares and Performance Units and other incentives under the Plan may be made subject to the attainment of performance goals relating to one or more business criteria within the meaning of Section 162(m) of the Code and may provide
for a targeted level or levels of achievement (“Performance Goals”) including cash flow; cash position; earnings before interest and taxes; earnings before interest, taxes, depreciation and amortization; earnings per Share; economic
profit; economic value added; equity or stockholder’s equity; market share; net income; net profit; net sales; operating earnings; operating income; profit before tax; ratio of debt to debt plus equity; ratio of operating earnings to capital
spending; return on net assets; revenue; sales growth; Share price; or total return to stockholders. Any Performance Goals may be used to measure the performance of the Company as a whole or a business unit or other segment of the Company, or one or
more product lines or specific markets and may be measured on a growth basis or relative basis to a peer group or index. The Performance Goals for a Participant will be determined by the Administrator based on the Company’s tactical and
strategic business objectives, which may differ from Participant to Participant and from Award to Award. Prior to the Determination Date, the Administrator will determine whether to make any adjustments to the calculation of any Performance Goal
with respect to any Participant for any significant or extraordinary events affecting the Company. In all other respects, Performance Goals will be calculated in accordance with the Company’s financial statements, generally accepted accounting
principles, or under a methodology established by the Administrator prior to the issuance of an Award, which is consistently applied and identified in the financial statements, including footnotes, or the management discussion and analysis section
of the Company’s annual report. 
 (c) Procedures. To the extent necessary to comply with the
performance-based compensation provisions of Section 162(m) of the Code, with respect to any Award granted subject to Performance Goals and intended to qualify as “performance-based compensation” under Section 162(m) of the Code,
on or before the Determination Date (i.e., within the first twenty-five percent (25%) of the Performance Period, but in no event more than ninety (90) days following the commencement of any Performance Period or such other time as may be
required or permitted by Section 162(m) of the Code), the Administrator will, in writing, (i) designate one or more Participants to whom an Award will be made, (ii) select the Performance Goals applicable to the Performance Period,
(iii) establish the Performance Goals, and amounts of such Awards, as applicable, which may be earned for such Performance Period, and (iv) specify the relationship between Performance Goals and the amounts of such Awards, as applicable,
to be earned by each Participant for such Performance Period. 
 (d) Additional Limitations.
Notwithstanding any other provision of the Plan, any Award which is granted to a Participant and is intended to constitute qualified performance-based compensation under Section 162(m) of the Code will be subject to any additional limitations
set forth in the Code (including any amendment to Section 162(m)) or any regulations and ruling issued thereunder that are requirements for qualification as qualified performance-based compensation as described in Section 162(m) of the
Code, and the Plan will be deemed amended to the extent necessary to conform to such requirements. 
 (e)
Determination of Amounts Earned. Following the completion of each Performance Period, the Administrator will certify in writing whether the applicable Performance Goals have been achieved for such Performance Period. A Participant will be
eligible to receive payment pursuant to an Award intended to qualify as “performance-based compensation” under Section 162(m) of the Code for a Performance Period only if the Performance Goals for such period are achieved. In
determining the amounts earned by a Participant pursuant to an Award intended to qualified as “performance-based compensation” under Section 162(m) of the Code, the Committee will have the right to (a) reduce or eliminate (but
not to increase) the amount payable at a given level of performance to take into account additional factors that the Committee may deem relevant to the assessment of individual or corporate performance for the

  

 A-12 

 
Performance Period, (b) determine what actual Award, if any, will be paid in the event of a termination of employment as the result of a Participant’s death or disability or upon a
Change in Control or in the event of a termination of employment following a Change in Control prior to the end of the Performance Period, and (c) determine what actual Award, if any, will be paid in the event of a termination of employment
other than as the result of a Participant’s death or disability prior to a Change of Control and prior to the end of the Performance Period to the extent an actual Award would have otherwise been achieved had the Participant remained employed
through the end of the Performance Period. A Participant will be eligible to receive payment pursuant to an Award intended to qualify as “performance-based compensation” under Section 162(m) of the Code for a Performance Period only
if the Performance Goals for such period are achieved. 
 13. Compliance With Code Section 409A. Awards will be
designed and operated in such a manner that they are either exempt from the application of, or comply with, the requirements of Code Section 409A such that the grant, payment, settlement or deferral of Awards will not be subject to the
additional tax or interest applicable under Code Section 409A, except as otherwise determined in the sole discretion of the Administrator. The Plan and each Award Agreement under the Plan is intended to meet the requirements of Code
Section 409A and will be construed and interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is
subject to Code Section 409A, the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Code Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional
tax or interest applicable under Code Section 409A. 
 14. Leaves of Absence/Transfer Between
Locations. Unless the Administrator provides otherwise and except as required by Applicable Laws, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Service Provider will not cease to be an Employee in
the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed three
(3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first
(1st) day of such leave, any Incentive Stock Option
held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option. 

15. Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned,
hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award
transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate. 
 16.
Termination of Relationship as a Service Provider due to Misconduct. If a Participant ceases to be a Service Provider due to his or her Misconduct or should a Participant engage in Misconduct while holding an outstanding Award, then all
Awards that the Participant then holds will immediately terminate and the Participant will have no further rights with respect to such Awards. Upon such a termination, the Shares covered by the Awards that so terminate will revert to the Plan.

 17. Awards to Outside Directors. 

(a) General. Outside Directors will be entitled to receive all types of Awards under this Plan, including
discretionary Awards not covered under this Section 17. All grants of Options and Restricted Stock Units to Outside Directors pursuant to this Section will be automatic and nondiscretionary, except as otherwise provided herein, and will be made
in accordance with the following provisions: 
  

 A-13 

 (b) Options. 

(i) First Option. Each Outside Director who becomes an Outside Director after March 7, 2007 will be
automatically granted a Nonstatutory Stock Option to purchase 30,000 Shares (the “First Option”) on the date on which such person first becomes an Outside Director, whether through election by the stockholders of the Company or appointment
by the Board to fill a vacancy; provided, however, that an Inside Director who ceases to be an Inside Director but who remains a Director will not receive a First Option. 

(ii) Subsequent Option. Each Outside Director will be automatically granted a Nonstatutory Stock Option to purchase
10,000 Shares (a “Subsequent Option”) on the date of each annual meeting of the Company’s stockholders following March 7, 2007; provided that he or she is then an Outside Director and, provided further, that as of
such date, he or she will have served on the Board for at least the preceding six (6) months. 
 (iii)
Terms of Options. The terms of First Options and Subsequent Options granted hereunder will be as follows: 

(1) the term of each Option will be seven (7) years. 

(2) the exercise price per Share will be 100% of the Fair Market Value per Share on the date of grant. 

(3) twenty-five percent (25%) of the Shares subject to each First Option will vest on each anniversary of the date
of grant of such Option, so that 100% of the Shares subject to such Option will be vested four (4) years from the grant date, subject to Optionee continuing to be a Director through such dates. One hundred percent (100%) of the Shares
subject to each Subsequent Option will vest on the earlier of (i) the one-year anniversary of the date of grant and (ii) the date of the next annual meeting of the Company’s stockholders following the date of grant, subject to the
Optionee continuing to be a Director through such date. 
 (4) each Option granted under this Section 17
will have such other terms and conditions as the Administrator determines. 
 (c) Restricted Stock Units.

 (i) Annual Restricted Stock Units. Each Outside Director will be automatically granted an Award of 3,000 Restricted
Stock Units (“Annual Restricted Stock Units”) on the date of each annual meeting of the Company’s stockholders following March 7, 2007; provided that he or she is then an Outside Director and, provided further, that
as of such date, he or she will have served on the Board for at least the preceding six (6) months. 
 (ii)
Terms of Restricted Stock Units. The terms of Annual Restricted Stock Units granted hereunder will be as follows: 

(1) one hundred percent (100%) of the Annual Restricted Stock Units will vest on the earlier of (i) the
one-year anniversary of the date of grant and (ii) the date of the next annual meeting of the Company’s stockholders following the date of grant, subject to the Optionee continuing to be a Director through such date. 

(2) each Restricted Stock Unit will represent the right to receive a Share and will be settled in Common Stock upon
vesting. 
 (3) Awards of Restricted Stock Units granted under this Section 17 will have such other terms
and conditions as the Administrator determines. 
 (d) Adjustments. The Administrator in its discretion
may change and otherwise revise the terms of Awards granted under this Section 17, including, without limitation, the number of Shares, exercise prices and other terms thereof, for Awards granted on or after the date the Administrator
determines to make any such change or revision. 
  

 A-14 

 18. Adjustments; Dissolution or Liquidation; Merger or Change in Control. 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other
securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the
corporate structure of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust the number and class of
Shares that may be delivered under the Plan and/or the number, class, and price of Shares covered by each outstanding Award, and the numerical Share and unit limits set forth in Sections 3, 6, 7, 8, 9, 10 and 17. 

(b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the
Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such
proposed action. 
 (c) Change in Control. In the event of a Change in Control, each outstanding Award
will be assumed or an equivalent option or right substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation does not assume or substitute for the Award (or portion
thereof), the Participant will fully vest in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights that are not assumed or substituted for, including Shares as to which such Awards would not otherwise be
vested or exercisable, all restrictions on Restricted Stock, Restricted Stock Units, and Performance Shares/Units not assumed or substituted for will lapse, and, with respect to Awards with performance-based vesting not assumed or substituted for,
all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met. In addition, if an Option or Stock Appreciation Right is not assumed or substituted
for in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically that the Option or Stock Appreciation Right will be fully vested and exercisable for a period of time determined by the Administrator
in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period. 

With respect to Awards granted to Outside Directors that are assumed or substituted for, if on the date of or following
such assumption or substitution the Participant’s status as a Director or a director of the successor corporation, as applicable, is terminated other than upon a voluntary resignation by the Participant, then the Participant will fully vest in
and have the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares subject thereto, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock, Restricted
Stock Units, Performance Shares and Performance Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels
and all other terms and conditions met. 
 For the purposes of this subsection (c), an Award will be considered
assumed if, following the Change in Control, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property)
or, in the case of a Stock Appreciation Right upon the exercise of which the Administrator determines to pay cash or a Restricted Stock Unit, Performance Share or Performance Unit which the Administrator can determine to pay in cash, the fair market
value of the consideration received in the merger or Change in Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen
by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent
of the successor corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Share or Performance Unit, for each Share subject to
such Award (or in the case of 
  

 A-15 

 
an Award settled in cash, the number of implied shares determined by dividing the value of the Award by the per share consideration received by holders of Common Stock in the Change in Control),
to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Change in Control. 

Notwithstanding anything in this Section 18(c) to the contrary, an Award that vests, is earned or paid-out upon the
satisfaction of one or more performance objectives (including any Performance Goals) will not be considered assumed if the Company or its successor modifies any of such performance objectives without the Participant’s consent; provided,
however, a modification to such performance objectives only to reflect the successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption. 

Notwithstanding anything in this Section 18(c) to the contrary, if a payment under an Award Agreement is subject to
Section 409A of the Code and if the change in control definition contained in the Award Agreement or other agreement related to the Award does not comply with the definition of “change in control” for purposes of a distribution under
Section 409A of the Code, then any payment of an amount that is otherwise accelerated under this Section will be delayed until the earliest time that such payment would be permissible under Section 409A of the Code without triggering any
penalties applicable under Section 409A of the Code. 
 19. Tax Withholding 

(a) Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise
thereof), the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local, foreign or other taxes (including the Participant’s FICA
obligation) required to be withheld with respect to such Award (or exercise thereof). 
 (b) Withholding
Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation)
(a) paying cash, (b) electing to have the Company withhold otherwise deliverable cash or Shares having a Fair Market Value equal to the amount required to be withheld, (c) delivering to the Company already-owned Shares having a Fair
Market Value equal to the amount required to be withheld, provided the delivery of such Shares will not result in any adverse accounting consequences as the Administrator determines in its sole discretion, (d) selling a sufficient number of
Shares otherwise deliverable to the Participant through such means as the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld or (e) retaining from salary or
other amounts payable to the Participant cash having a sufficient value to satisfy the amount required to be withheld. The amount of the withholding requirement will be deemed to include any amount which the Administrator agrees may be withheld at
the time the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax rates applicable to the Participant with respect to the Award on the date that the amount of tax to be withheld is to
be determined. The Fair Market Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 

20. No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect to
continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s right or the Company’s right to terminate such relationship at any time, with or without
cause, to the extent permitted by Applicable Laws. 
 21. Date of Grant. The date of grant of an Award will be, for all
purposes, the date on which the Administrator makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time
after the date of such grant. 
  

 A-16 

 22. Term of Plan. Subject to Section 26 of the Plan, this Plan as adopted by the
Board in its amended and restated form will become effective as of the date of the Company’s 2010 Annual Meeting of Stockholders and will continue in effect for a term ending on the ten (10) year anniversary of such meeting, unless
terminated earlier under Section 23 of the Plan. 
 23. Amendment and Termination of the Plan. 

(a) Amendment and Termination. The Administrator may at any time amend, alter, suspend or terminate the Plan.

 (b) Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the
extent necessary and desirable to comply with Applicable Laws. Without limiting the foregoing sentence, the number of Shares available under the Plan pursuant to Section 3 herein may not be increased without approval of the Company’s
stockholders, except as provided in Section 3. 
 (c) Effect of Amendment or Termination. No
amendment, alteration, suspension or termination of the Plan will impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant
and the Company. Termination of the Plan will not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 

24. Conditions Upon Issuance of Shares. 

(a) Legal Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such
Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) Investment Representations. As a condition to the exercise of an Award, the Company may require the person
exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the
Company, such a representation is required. 
 25. Inability to Obtain Authority. The inability of the Company to obtain
authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the
failure to issue or sell such Shares as to which such requisite authority will not have been obtained. 
 26. Stockholder
Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan is adopted. Such stockholder approval will be obtained in the manner and to the degree required under
Applicable Laws. 
  

 A-17

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