Document:

The Fresh Market, Inc. 2010 Omnibus Incentive Compensation Plan

 Exhibit 10.10 
 THE FRESH MARKET, INC. 
 2010 OMNIBUS INCENTIVE COMPENSATION PLAN 

SECTION 1. Purpose. The purpose of this 2010 Omnibus Incentive Compensation Plan (the “Plan”) is to promote the
interests of The Fresh Market, Inc. and its stockholders by (a) attracting and retaining exceptional directors, officers, employees and consultants (including prospective directors, officers, employees and consultants) of the Company (as
defined below) and its Affiliates (as defined below) and (b) enabling such individuals to participate in the growth and financial success of the Company. 
 SECTION 2. Definitions. As used herein, the following terms shall have the meanings set forth below: 
 “Affiliate” means (a) any entity that, directly or indirectly, is controlled by, controls or is under common control with, the Company and/or (b) any entity in which the Company
has a significant equity interest, in either case, as determined by the Committee. 
 “Award” means any award
that is permitted under Section 6 and granted under the Plan. 
 “Award Agreement” means any written or
electronic agreement, contract or other instrument or document evidencing any Award, which may (but need not) require execution or acknowledgment by a Participant. 
 “Board” means the Board of Directors of the Company. 

“Cash Incentive Award” means an Award (a) that is granted pursuant to Section 6(f), (b) that is settled
in cash and (c) the value of which is set by the Committee and is not calculated by reference to the Fair Market Value of Shares. 
 “Change of Control” shall (a) have the meaning set forth in an Award Agreement or (b) if there is no definition set forth in an Award Agreement, mean the occurrence of any of
the following events: 
 (i) during any period of 24 consecutive calendar months, individuals who were directors
of the Company on the first day of such period (the “Incumbent Directors”) cease for any reason to constitute a majority of the Board; provided, however, that any individual becoming a director subsequent to the first
day of such period whose election, or nomination for election, by the Company’s stockholders was approved by a vote of at least a majority of the Incumbent Directors shall be considered as though such individual were an Incumbent Director, but
excluding, for purposes of this proviso, any such individual whose initial assumption of office occurs as a result of an actual or threatened proxy contest with respect to election or removal of directors or other actual or threatened solicitation
of proxies or consents by or on behalf of a “person” (as such term is used in Section 13(d) of the Exchange Act) (a “Person”), in each case, other than the Board or any one or more Specified Stockholders; 

 (ii) the consummation of a merger, consolidation, statutory share exchange
or similar form of corporate transaction involving (x) the Company or (y) any of its Subsidiaries, but in the case of this clause (y) only if Company Voting Securities are issued or issuable, or the sale or other disposition of all or
substantially all the assets of the Company to an entity that is not an Affiliate (each of the foregoing events being hereinafter referred to as a “Reorganization”), in each case, unless, immediately following such Reorganization,
(1) all or substantially all the individuals and entities who were the “beneficial owners” (as such term is defined in Rule 13d-3 under the Exchange Act (or a successor rule thereto)) of the securities eligible to vote for the
election of the Board (“Company Voting Securities”) outstanding immediately prior to the consummation of such Reorganization continue to beneficially own, directly or indirectly, more than 50% of the combined voting power of the
then outstanding voting securities of the corporation or other entity resulting from such Reorganization (including a corporation that, as a result of such transaction, owns the Company or all or substantially all the Company’s assets either
directly or through one or more subsidiaries) (the “Continuing Company”) in substantially the same proportions as their ownership, immediately prior to the consummation of such Reorganization, of the outstanding Company Voting
Securities (excluding, for purposes of determining such proportions, any outstanding voting securities of the Continuing Company that such beneficial owners hold immediately following the consummation of the Reorganization as a result of their
ownership prior to such consummation of voting securities of any corporation or other entity involved in or forming part of such Reorganization other than the Company), (2) no Person (excluding (x) any employee benefit plan (or related
trust) sponsored or maintained by the Continuing Company or any corporation controlled by the Continuing Company and (y) any one or more Specified Stockholders) beneficially owns, directly or indirectly, 20% or more of the combined voting power
of the then outstanding voting securities of the Continuing Company and (3) at least a majority of the members of the board of directors of the Continuing Company (or equivalent body) were Incumbent Directors at the time of the execution of the
definitive agreement providing for such Reorganization or, in the absence of such an agreement, at the time at which approval of the Board was obtained for such Reorganization; 

(iii) the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company unless such
liquidation or dissolution is part of a transaction or series of transactions described in paragraph (ii) above that does not otherwise constitute a Change of Control; or 

(iv) any Person, corporation or other entity or “group” (as used in Section 14(d)(2) of the Exchange Act)
(other than (A) the Company, (B) any trustee or other fiduciary holding securities under an employee benefit plan of the Company or an Affiliate, (C) any company owned, directly or indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of the voting power of the Company Voting Securities or (D) any one or more Specified Stockholders) becomes the beneficial owner, directly or

  
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indirectly, of securities of the Company representing 20% or more of the combined voting power of the Company Voting Securities; provided, however, that for purposes of this
subparagraph (iv), the following acquisitions shall not constitute a Change of Control: (x) any acquisition directly from the Company, (y) any acquisition by an underwriter temporarily holding such Company Voting Securities pursuant to an
offering of such securities or (z) any acquisition pursuant to a Reorganization that does not constitute a Change of Control for purposes of subparagraph (ii) above. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor statute thereto, and the regulations promulgated thereunder. 

“Committee” means the Compensation Committee of the Board or a subcommittee thereof, or such other committee of the
Board as may be designated by the Board to administer the Plan. 
 “Company” means The Fresh Market, Inc., a
corporation organized under the laws of Delaware, together with any successor thereto. 
 “Deferred Share Unit”
means an Award (a) that is granted pursuant to Section 6(e) and (b) that represents an unfunded and unsecured promise to deliver Shares in accordance with the terms of the applicable Award Agreement. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor statute
thereto, and the regulations promulgated thereunder. 
 “Exercise Price” means (a) in the case of each
Option, the price specified in the applicable Award Agreement as the price-per-Share at which Shares may be purchased pursuant to such Option or (b) in the case of each SAR, the price specified in the applicable Award Agreement as the reference
price-per-Share used to calculate the amount payable to the applicable Participant pursuant to such SAR. 
 “Fair Market
Value” means, except as otherwise provided in the applicable Award Agreement, (a) with respect to any property other than Shares, the fair market value of such property determined by such methods or procedures as shall be established
from time to time by the Committee and (b) with respect to Shares as of any date, (i) the closing per-share sales price of the Shares (A) as reported by NASDAQ for such date or (B) if the Shares are listed on any other national
stock exchange, as reported on the stock exchange composite tape for securities traded on such stock exchange for such date or, with respect to each of clauses (A) and (B), if there were no sales on such date, on the closest preceding date on
which there were sales of Shares or (ii) in the event there shall be no public market for the Shares on such date, the fair market value of the Shares as determined in good faith by the Committee. 

“Incentive Stock Option” means an option to purchase Shares from the Company that (a) is granted under
Section 6(b) of the Plan and (b) is intended to qualify for special Federal income tax treatment pursuant to Sections 421 and 422 of the Code, as 

  
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now constituted or subsequently amended, or pursuant to a successor provision of the Code, and which is so designated in the applicable Award Agreement. 

“NASDAQ” means the NASDAQ Global Select Market. 

“Nonqualified Stock Option” means an option to purchase Shares from the Company that (a) is granted under
Section 6(b) of the Plan and (b) is not an Incentive Stock Option. 
 “Option” means an Incentive
Stock Option or a Nonqualified Stock Option or both, as the context requires. 
 “Participant” means any
director, officer, employee or consultant (including any prospective director, officer, employee or consultant) of the Company or its Affiliates who is eligible for an Award under Section 5 and who is selected by the Committee to receive an
Award under the Plan or who receives a Substitute Award pursuant to Section 4(c). 
 “Performance Compensation
Award” means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 6(g) of the Plan. 
 “Performance Criteria” means the criterion or criteria that the Committee shall select for purposes of establishing the Performance Goal(s) for a Performance Period with respect to any
Performance Compensation Award or Cash Incentive Award under the Plan. 
 “Performance Formula” means, for a
Performance Period, the one or more objective formulas applied against the relevant Performance Goal to determine, with regard to the Performance Compensation Award or Cash Incentive Award of a particular Participant, whether all, some portion but
less than all, or none of such Award has been earned for the Performance Period. 
 “Performance Goal” means,
for a Performance Period, the one or more goals established by the Committee for the Performance Period based upon the Performance Criteria. 
 “Performance Period” means the one or more periods of time as the Committee may select over which the attainment of one or more Performance Goals shall be measured for the purpose of
determining a Participant’s right to and the payment of a Performance Compensation Award or Cash Incentive Award. 

“Restricted Share” means a Share that is granted under Section 6(d) of the Plan that is subject to certain transfer
restrictions, forfeiture provisions and/or other terms and conditions specified herein and in the applicable Award Agreement. 

“RSU” means a restricted stock unit Award that is granted under Section 6(d) of the Plan and is designated as such
in the applicable Award Agreement and that represents an unfunded and unsecured promise to deliver Shares, cash, other securities, 

  
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other Awards or other property in accordance with the terms of the applicable Award Agreement. 
 “Rule 16b-3” means Rule 16b-3 as promulgated and interpreted by the SEC under the Exchange Act or any successor rule or regulation thereto as in effect from time to time. 

“SAR” means a stock appreciation right Award that is granted under Section 6(c) of the Plan and that represents an
unfunded and unsecured promise to deliver Shares, cash, other securities, other Awards or other property equal in value to the excess, if any, of the Fair Market Value per Share over the Exercise Price per Share of the SAR, subject to the terms of
the applicable Award Agreement. 
 “SEC” means the Securities and Exchange Commission or any successor thereto
and shall include the staff thereof. 
 “Shares” means shares of common stock of the Company, $0.01 par value,
or such other securities of the Company (a) into which such shares shall be changed by reason of a recapitalization, merger, consolidation, split-up, combination, exchange of shares or other similar transaction or (b) as may be determined
by the Committee pursuant to Section 4(b). 
 “Specified Stockholder” means (i) Ray Berry and the
Estate of Beverly Berry; (ii) any spouse of Ray Berry; (iii) the lineal descendents of Ray Berry; (iv) the spouses and children, including adopted children, of the lineal descendents of Ray Berry; (v) any trust for the direct or
indirect benefit of, exclusively, any persons named in clauses (i) through (iv); and (vi) any entity in which all the equity interests are owned by persons named in clauses (i) through (v). 

“Subsidiary” means any entity in which the Company, directly or indirectly, possesses 50% or more of the total combined
voting power of all classes of its stock. 
 “Substitute Awards” shall have the meaning specified in
Section 4(c). 
 “Treasury Regulations” means all proposed, temporary and final regulations promulgated
under the Code, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations). 
 SECTION 3. Administration. (a) Composition of the Committee. The Plan shall be administered by the Board or the Committee. 

(b) Authority of the Committee. Subject to the terms of the Plan and applicable law, and in addition to the other express powers
and authorizations conferred on the Committee by the Plan, the Committee shall have discretion to administer the Plan, including the authority to (i) designate Participants, (ii) determine the type or types of Awards to be granted to a
Participant, (iii) determine the number of Shares to be covered by, or with respect to which payments, rights or other matters are to be 

  
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calculated in connection with, Awards, (iv) determine the terms and conditions of any Awards, (v) determine the vesting schedules of Awards and, if certain performance criteria must be
attained in order for an Award to vest or be settled or paid, establish such performance criteria and certify whether, and to what extent, such performance criteria have been attained, (vi) determine whether, to what extent and under what
circumstances Awards may be settled or exercised in cash, Shares, other securities, other Awards or other property, or canceled, forfeited or suspended and the method or methods by which Awards may be settled, exercised, canceled, forfeited or
suspended, (vii) determine whether, to what extent and under what circumstances cash, Shares, other securities, other Awards, other property and other amounts payable with respect to an Award shall be deferred either automatically or at the
election of the holder thereof or of the Committee, (viii) interpret, administer, reconcile any inconsistency in, correct any default in and/or supply any omission in, the Plan and any instrument or agreement relating to, or Award made under,
the Plan, (ix) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan, (x) accelerate the vesting or exercisability of, payment for or
lapse of restrictions on, Awards and (xi) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. 

(c) Committee Decisions. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations and
other decisions under or with respect to the Plan or any Award shall be within the discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon all Persons, including the Company, any Affiliate, any
Participant, any holder or beneficiary of any Award and any stockholder. 
 (d) Indemnification. No member of the Board,
the Committee or any employee of the Company (each such person, a “Covered Person”) shall be liable for any action taken or omitted to be taken or any determination made in good faith with respect to the Plan or any Award hereunder.
Each Covered Person shall be indemnified and held harmless by the Company from and against (i) any loss, cost, liability or expense (including attorneys’ fees) that may be imposed upon or incurred by such Covered Person in connection with
or resulting from any action, suit or proceeding to which such Covered Person may be a party or in which such Covered Person may be involved by reason of any action taken or omitted to be taken under the Plan or any Award Agreement and (ii) any
and all amounts paid by such Covered Person, with the Company’s approval, in settlement thereof, or paid by such Covered Person in satisfaction of any judgment in any such action, suit or proceeding against such Covered Person; provided
that the Company shall have the right, at its own expense, to assume and defend any such action, suit or proceeding, and, once the Company gives notice of its intent to assume the defense, the Company shall have sole control over such defense with
counsel of the Company’s choice. The foregoing right of indemnification shall not be available to a Covered Person to the extent that a court of competent jurisdiction in a final judgment or other final adjudication, in either case not subject
to further appeal, determines that the acts or omissions of such Covered Person giving rise to the indemnification claim resulted from such Covered Person’s bad faith, fraud or willful criminal act or omission or that such right of
indemnification is otherwise prohibited by law or by the Company’s 

  
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Restated Certificate of Incorporation or Amended and Restated Bylaws, in each case, as may be amended from time to time. The foregoing right of indemnification shall not be exclusive of any other
rights of indemnification to which Covered Persons may be entitled under the Company’s Restated Certificate of Incorporation or Amended and Restated Bylaws, as a matter of law, or otherwise, or any other power that the Company may have to
indemnify such persons or hold them harmless. 
 (e) Delegation of Authority to Officers. The Committee may delegate, on
such terms and conditions as it determines in its discretion, to one or more officers of the Company the authority to make grants of Awards to officers (other than any officer subject to Section 16 of the Exchange Act), employees and
consultants of the Company and its Affiliates (including any prospective officer (other than any such officer who is expected to be subject to Section 16 of the Exchange Act), employee or consultant) and all necessary and appropriate decisions
and determinations with respect thereto. 
 (f) Awards to Directors. Notwithstanding anything to the contrary contained
herein, the Board may, in its discretion, at any time and from time to time, grant Awards to non-employee directors or administer the Plan with respect to such Awards. In any such case, the Board shall have all the authority and responsibility
granted to the Committee herein. 
 SECTION 4. Shares Available for Awards; Cash Payable Pursuant to Awards.
(a) Shares and Cash Available. Subject to adjustment as provided in Section 4(b), the maximum aggregate number of Shares that may be delivered pursuant to Awards granted under the Plan shall be equal to 3,500,000 (such amount, the
“Plan Share Limit”), of which 3,500,000 Shares may be delivered pursuant to Incentive Stock Options granted under the Plan (such amount, the “Plan ISO Limit”). Subject to adjustment as provided in Section 4(b),
each Share with respect to which an Award that can be settled in Shares is granted under the Plan shall reduce the Plan Share Limit by one Share. Awards that are required to be settled in cash shall not reduce the Plan Share Limit. If any Award
granted under the Plan is forfeited (or otherwise expires, terminates or is canceled without the delivery of all Shares subject thereto) or settled other than wholly by delivery of Shares (including cash settlement), then, in any such case, any
number of Shares subject to such Award that were not issued with respect to such Award shall not be treated as issued for purposes of this Section 4(a) and the Plan Share Limit shall be increased by such number of Shares. If Shares issued upon
exercise, vesting or settlement of an Award, or Shares owned by a Participant, are surrendered or tendered to the Company in payment of the Exercise Price of an Award or any taxes required to be withheld in respect of an Award, in each case in
accordance with the terms and conditions of the Plan and any applicable Award Agreement, the Plan Share Limit shall be increased by such number of surrendered or tendered Shares; provided that the Plan ISO Limit shall not increase as a result
of such surrender or tendering. With respect to Awards that are intended to qualify as “qualified performance-based compensation” under Section 162(m) of the Code, subject to adjustment as provided in Section 4(b), (1) in
the case of Awards that are settled in Shares, the maximum aggregate number of Shares with respect to which Awards may be granted to any Participant in any fiscal year of the Company under the Plan shall be 500,000 (such amount, the “Annual
Individual  

  
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Plan Share Limit”), and (2) in the case of Awards that are settled in cash based on the Fair Market Value of a Share, the maximum aggregate amount of cash that may be paid
pursuant to Awards granted to any Participant in any fiscal year of the Company under the Plan shall be equal to the per-Share Fair Market Value as of the relevant vesting, payment or settlement date multiplied by the Annual Individual Plan Share
Limit. In the case of all Awards other than those described in the preceding sentence, the maximum aggregate amount of cash and other property (valued at its Fair Market Value) other than Shares that may be paid or delivered pursuant to Awards under
the Plan to any Participant in any fiscal year of the Company shall be equal to $4,000,000. 
 (b) Adjustments for Changes in
Capitalization and Similar Events. (i) In the event of any extraordinary dividend or other extraordinary distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, rights offering, stock split,
reverse stock split, split-up or spin-off, the Committee shall, in the manner determined by the Committee to be appropriate or desirable, adjust any or all of (A) the number of Shares or other securities of the Company (or number and kind of
other securities or property) with respect to which Awards may be granted, including (1) the Plan Share Limit, (2) the Plan ISO Limit and (3) the Annual Individual Plan Share Limit, and (B) the terms of any outstanding Award,
including (1) the number of Shares or other securities of the Company (or number and kind of other securities or property) subject to outstanding Awards or to which outstanding Awards relate and (2) the Exercise Price, if applicable, with
respect to any Award. 
 (ii) In the event that the Committee determines that any reorganization, merger, consolidation,
combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company, or other similar corporate transaction or event affects the Shares
(including any Change of Control) such that an adjustment is determined by the Committee in its discretion to be appropriate or desirable, then the Committee may (A) in such manner as it may deem appropriate or desirable, adjust any or all of
(1) the number of Shares or other securities of the Company (or number and kind of other securities or property) with respect to which Awards may be granted, including (X) the Plan Share Limit, (Y) the Plan ISO Limit and (Z) the
Annual Individual Plan Share Limit, and (2) the terms of any outstanding Award, including (X) the number of Shares or other securities of the Company (or number and kind of other securities or property) subject to outstanding Awards or to
which outstanding Awards relate and (Y) the Exercise Price, if applicable, with respect to any Award, (B) if deemed appropriate or desirable by the Committee, make provision for a cash payment to the holder of an outstanding Award in
consideration for the cancelation of such Award, including, in the case of an outstanding Option or SAR, a cash payment to the holder of such Option or SAR in consideration for the cancelation of such Option or SAR in an amount equal to the excess,
if any, of the Fair Market Value (as of a date specified by the Committee) of the Shares subject to such Option or SAR over the aggregate Exercise Price of such Option or SAR and (C) if deemed appropriate or desirable by the Committee, cancel
and terminate any Option or SAR having a per-Share Exercise Price equal to, or in excess of, the Fair Market Value of a Share subject to such Option or SAR without any payment or consideration therefor. 

  
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 (c) Substitute Awards. Awards may, in the discretion of the Committee, be granted
under the Plan in assumption of, or in substitution for, outstanding awards previously granted by the Company or any of its Affiliates or a company acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates
combines (“Substitute Awards”); provided, however, that in no event may any Substitute Award be granted in a manner that would violate the prohibitions on repricing of Options and SARs, as set forth in clauses (i),
(ii) and (iii) of Section 7(b). The number of Shares underlying any Substitute Awards shall be counted against the Plan Share Limit; provided, however, that Substitute Awards issued in connection with the assumption of,
or in substitution for, outstanding awards previously granted by an entity that is acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates combines shall not be counted against the Plan Share Limit;
provided further, however, that Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding stock options intended to qualify for special tax treatment under Sections 421 and 422 of the Code that
were previously granted by an entity that is acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates combines shall be counted against the maximum aggregate number of Shares available for Incentive Stock
Options under the Plan. 
 (d) Sources of Shares Deliverable Under Awards. Any Shares delivered pursuant to an Award may
consist, in whole or in part, of authorized and unissued Shares or of treasury Shares. 
 SECTION 5. Eligibility. Any
director, officer, employee or consultant (including any prospective director, officer, employee or consultant) of the Company or any of its Affiliates shall be eligible to be designated a Participant. 

SECTION 6. Awards. (a) Types of Awards. Awards may be made under the Plan in the form of (i) Options,
(ii) SARs, (iii) Restricted Shares, (iv) RSUs, (v) Deferred Share Units, (vi) other equity-based or equity-related Awards that the Committee determines are consistent with the purpose of the Plan and the interests of the
Company, (vii) Cash Incentive Awards and (viii) Performance Compensation Awards. Awards may be granted in tandem with other Awards. No Incentive Stock Option (other than an Incentive Stock Option that may be assumed or issued by the
Company in connection with a transaction to which Section 424(a) of the Code applies) may be granted to a person who is ineligible to receive an Incentive Stock Option under the Code. 

(b) Options. (i) Grant. Subject to the provisions of the Plan, the Committee shall have discretion to determine
(A) the Participants to whom Options shall be granted, (B) subject to Section 4(a), the number of Shares subject to each Option to be granted to each Participant, (C) whether each Option shall be an Incentive Stock Option or a
Nonqualified Stock Option and (D) the terms and conditions of each Option, including the vesting criteria, term, methods of exercise and methods and form of settlement. In the case of Incentive Stock Options, the terms and conditions of such
grants shall be subject to and comply with such rules as may be prescribed by Section 422 of the Code and any regulations related thereto, as may be amended from time to 

  
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time. Each Option granted under the Plan shall be a Nonqualified Stock Option unless the applicable Award Agreement expressly states that the Option is intended to be an Incentive Stock Option.
If an Option is intended to be an Incentive Stock Option, and if, for any reason, such Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option (or portion thereof)
shall be regarded as a Nonqualified Stock Option appropriately granted under the Plan; provided that such Option (or portion thereof) otherwise complies with the Plan’s requirements relating to Nonqualified Stock Options. 

(ii) Exercise Price. The Exercise Price of each Share covered by each Option shall be not less than 100% of the Fair Market Value
of such Share (determined as of the date the Option is granted); provided, however, in the case of each Incentive Stock Option granted to an employee who, at the time of the grant of such Option, owns stock representing more than 10%
of the voting power of all classes of stock of the Company or any Affiliate, the per-Share Exercise Price shall be no less than 110% of the Fair Market Value per Share on the date of the grant. Each Option is, unless otherwise specified by the
Committee, intended to qualify as “qualified performance-based compensation” under Section 162(m) of the Code. 

(iii) Vesting and Exercise. Each Option shall be vested and exercisable at such times, in such manner and subject to such terms
and conditions as the Committee may, in its discretion, specify in the applicable Award Agreement or thereafter. Except as otherwise specified by the Committee in the applicable Award Agreement, each Option may only be exercised to the extent that
it has already vested at the time of exercise. Except as otherwise specified by the Committee in the applicable Award Agreement, each Option shall become vested and exercisable with respect to 25% of the Shares subject to such Option on each of the
first four anniversaries of the date of grant. Each Option shall be deemed to be exercised when written or electronic notice of such exercise has been given to the Company in accordance with the terms of the Award by the person entitled to exercise
the Award and full payment pursuant to Section 6(b)(iv) for the Shares with respect to which the Award is exercised has been received by the Company. Exercise of each Option in any manner shall result in a decrease in the number of Shares that
thereafter may be available for sale under the Option. The Committee may impose such conditions with respect to the exercise of each Option, including any conditions relating to the application of Federal or state securities laws, as it may deem
necessary or advisable. 
 (iv) Payment. (A) No Shares shall be delivered pursuant to any exercise of an Option
until payment in full of the aggregate Exercise Price therefor is received by the Company, and the Participant has paid to the Company (or the Company has withheld in accordance with Section 9(l)) an amount equal to any Federal, state, local
and foreign income and employment taxes required to be withheld. Such payments may be made in cash (or its equivalent) or, in the Committee’s discretion, (1) by exchanging Shares owned by the Participant (which are not the subject of any
pledge or other security interest), (2) if there shall be a public market for the Shares at such time, subject to such rules as may be established by the Committee, through delivery of irrevocable instructions to a broker to sell the Shares
otherwise deliverable upon the exercise of the 

  
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Option and to deliver cash promptly to the Company, (3) by having the Company withhold Shares from the Shares otherwise issuable pursuant to the exercise of the Option or (4) through
any other method (or combination of methods) as approved by the Committee; provided that the combined value of all cash and cash equivalents and the Fair Market Value of any such Shares so tendered to the Company, together with any Shares
withheld by the Company in accordance with this Section 6(b)(iv) or Section 9(l), as of the date of such tender, is at least equal to such aggregate Exercise Price and the amount of any Federal, state, local or foreign income or employment
taxes required to be withheld, if applicable. 
 (B) Wherever in the Plan or any Award Agreement a Participant is permitted to
pay the Exercise Price of an Option or taxes relating to the exercise of an Option by delivering Shares, the Participant may, subject to procedures satisfactory to the Committee, satisfy such delivery requirement by presenting proof of beneficial
ownership of such Shares, in which case the Company shall treat the Option as exercised without further payment and shall withhold such number of Shares from the Shares acquired by the exercise of the Option. 

(v) Expiration. Except as otherwise set forth in the applicable Award Agreement, each Option shall expire immediately, without
any payment, upon the earlier of (A) the tenth anniversary of the date the Option is granted and (B) three months after the date the Participant who is holding the Option ceases to be a director, officer, employee or consultant of the
Company or one of its Affiliates. In no event may an Option be exercisable after the tenth anniversary of the date the Option is granted. 
 (c) SARs. (i) Grant. Subject to the provisions of the Plan, the Committee shall have discretion to determine (A) the Participants to whom SARs shall be granted, (B) subject to
Section 4(a), the number of SARs to be granted to each Participant, (C) the Exercise Price thereof and (D) the terms and conditions of each SAR, including the vesting criteria, term, methods of exercise and methods and form of
settlement. 
 (ii) Exercise Price. The Exercise Price of each Share covered by a SAR shall be not less than 100% of the
Fair Market Value of such Share (determined as of the date the SAR is granted). Each SAR is, unless otherwise specified by the Committee, intended to qualify as “qualified performance-based compensation” under Section 162(m) of the
Code. 
 (iii) Vesting and Exercise. Each SAR shall entitle the Participant to receive an amount upon exercise equal to
the excess, if any, of the Fair Market Value of a Share on the date of exercise of the SAR over the Exercise Price thereof. The Committee shall determine, in its discretion, whether a SAR shall be settled in cash, Shares, other securities, other
Awards, other property or a combination of any of the foregoing. Each SAR shall be vested and exercisable at such times, in such manner and subject to such terms and conditions as the Committee may, in its discretion, specify in the applicable Award
Agreement or thereafter. Except as otherwise specified by the Committee in the 

  
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applicable Award Agreement, each SAR shall become vested with respect to 25% of the Shares subject to such SAR on each of the first four anniversaries of the date of grant. 

(iv) Expiration. Except as otherwise set forth in the applicable Award Agreement, each SAR shall expire immediately, without any
payment, upon the earlier of (A) the tenth anniversary of the date the SAR is granted and (B) three months after the date the Participant who is holding the SAR ceases to be a director, officer, employee or consultant of the Company or one
of its Affiliates. In no event may a SAR be exercisable after the tenth anniversary of the date the SAR is granted. 
 (d)
Restricted Shares and RSUs. (i) Grant. Subject to the provisions of the Plan, the Committee shall have discretion to determine (A) the Participants to whom Restricted Shares and RSUs shall be granted, (B) subject to
Section 4(a), the number of Restricted Shares and RSUs to be granted to each Participant, (C) the duration of the period during which, and the conditions, if any, under which, the Restricted Shares and RSUs may vest or may be forfeited to
the Company and (D) the terms and conditions of each such Award, including the vesting criteria, term, methods of exercise and methods and form of settlement. 
 (ii) Transfer Restrictions. No Restricted Share may be sold, assigned, transferred, pledged or otherwise encumbered except as provided in the Plan or as may be provided in the applicable Award
Agreement. Each Restricted Share may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Shares are registered in the name of the applicable Participant, such certificates must bear an appropriate
legend referring to the terms, conditions and restrictions applicable to such Restricted Shares, and the Company may, at its discretion, retain physical possession of such certificates until such time as all applicable restrictions lapse.

 (iii) Payment/Lapse of Restrictions. Each RSU shall be granted with respect to a specified number of Shares (or a
number of Shares determined pursuant to a specified formula) or shall have a value equal to the Fair Market Value of a specified number of Shares (or a number of Shares determined pursuant to a specified formula). RSUs shall be paid in cash, Shares,
other securities, other Awards or other property, as determined in the discretion of the Committee, upon the lapse of restrictions applicable thereto, or otherwise in accordance with the applicable Award Agreement. Except as otherwise specified by
the Committee in the applicable Award Agreement, Restricted Shares and RSUs shall become vested with respect to 25% of the Shares subject to such Awards on each of the first four anniversaries of the date of grant. If a Restricted Share or an RSU is
intended to qualify as “qualified performance-based compensation” under Section 162(m) of the Code, all requirements set forth in Section 6(g) must be satisfied in order for the restrictions applicable thereto to lapse.

 (e) Other Stock-Based Awards. Subject to the provisions of the Plan, the Committee shall have discretion to grant to
Participants other equity-based or equity-related Awards (including Deferred Share Units and fully vested Shares) (whether payable in cash, equity or otherwise) in such amounts and subject to such terms and conditions as the Committee shall
determine. 

  
 12 

 (f) Cash Incentive Awards. (i) Grant. Subject to the provisions of the
Plan, the Committee shall have discretion to determine (A) the Participants to whom Cash Incentive Awards shall be granted, (B) subject to Section 4(a), the number of Cash Incentive Awards to be granted to each Participant,
(C) the duration of the period during which, and the conditions, if any, under which, the Cash Incentive Awards may vest or may be forfeited to the Company and (D) the other terms and conditions of the Cash Incentive Awards. Each Cash
Incentive Award shall have an initial value that is established by the Committee at the time of grant. The Committee shall set performance goals or other payment conditions in its discretion, which, depending on the extent to which they are met
during a specified performance period, shall determine the number and/or value of Cash Incentive Awards that shall be paid to the Participant. 
 (ii) Earning of Cash Incentive Awards. Subject to the provisions of the Plan, after the applicable vesting period has ended, the holder of Cash Incentive Awards shall be entitled to receive a
payout of the number and value of Cash Incentive Awards earned by the Participant over the specified performance period, to be determined by the Committee, in its discretion, as a function of the extent to which the corresponding performance goals
or other conditions to payment have been achieved. 
 (iii) Payment. If a Cash Incentive Award is intended to qualify as
“qualified performance-based compensation” under Section 162(m) of the Code, all requirements set forth in Section 6(g) must be satisfied in order for a Participant to be entitled to payment. 

(g) Performance Compensation Awards. (i) General. The Committee shall have the authority, at the time of grant of any
Award, to designate such Award (other than an Option or SAR) as a Performance Compensation Award in order for such Award to qualify as “qualified performance-based compensation” under Section 162(m) of the Code. Options and SARs
granted under the Plan shall not be included among Awards that are designated as Performance Compensation Awards under this Section 6(g). 
 (ii) Eligibility. The Committee shall, in its discretion, designate within the first 90 days of a Performance Period (or, if shorter, within the maximum period allowed under Section 162(m) of
the Code) which Participants shall be eligible to receive Performance Compensation Awards in respect of such Performance Period. 
 (iii) Discretion of the Committee with Respect to Performance Compensation Awards. With regard to a particular Performance Period, the Committee shall have discretion to select (A) the length
of such Performance Period, (B) the type(s) of Performance Compensation Awards to be issued, (C) the Performance Criteria that shall be used to establish the Performance Goal(s), (D) the kind(s) and/or level(s) of the Performance
Goal(s) that is (are) to apply to the Company or any of its Subsidiaries, Affiliates, divisions or operational units, or any combination of the foregoing, and (E) the Performance Formula. Within the first 90 days of a Performance Period (or, if
shorter, within the maximum period allowed under Section 162(m) of the Code), the Committee shall, with regard to the Performance Compensation Awards to be issued for such 

  
 13 

 
Performance Period, exercise its discretion with respect to each of the matters enumerated in the immediately preceding sentence and record the same in writing. 

(iv) Performance Criteria. Notwithstanding the foregoing, the Performance Criteria that shall be used to establish the
Performance Goal(s) with respect to Performance Compensation Awards shall be based on the attainment of specific levels of performance of the Company or any of its Subsidiaries, Affiliates, divisions or operational units, or any combination of the
foregoing, and shall be limited to the following: (A) share price, (B) net income or earnings before or after taxes (including earnings before interest, taxes, depreciation and/or amortization), (C) operating income, (D) earnings
per share (including specified types or categories thereof), (E) cash flow (including specified types or categories thereof), (F) cash flow return on capital, (G) revenues (including specified types or categories thereof),
(H) return measures (including specified types or categories thereof), (I) sales or product volume, (J) inventory turns, (K) working capital, (L) gross or net profitability/profit margins, (M) objective measures of
productivity or operating efficiency, (N) costs (including specified types or categories thereof), (O) budgeted expenses (operating and capital), (P) market share (in the aggregate or by segment), (Q) level or amount of
acquisitions, (R) economic value-added, (S) enterprise value, (T) book value, (U) customer satisfaction survey results, (V) objective measures related to store openings, relocatings and remodelings (including number, cost,
timeline, productivity and operating efficiency) and (W) objective measures related to lease arrangements (including number, cost and timeline). Such Performance Criteria may be applied on an absolute basis, be relative to one or more peer
companies of the Company or indices or any combination thereof or, if applicable, be computed on an accrual or cash accounting basis. To the extent required under Section 162(m) of the Code, the Committee shall, within the first 90 days of the
applicable Performance Period (or, if shorter, within the maximum period allowed under Section 162(m) of the Code), define in an objective manner the method of calculating the Performance Criteria it selects to use for such Performance Period.

 (v) Modification of Performance Goals. The Committee is authorized at any time during the first 90 days of a
Performance Period (or, if shorter, within the maximum period allowed under Section 162(m) of the Code), or any time thereafter (but only to the extent the exercise of such authority after such 90-day period (or such shorter period, if
applicable) would not cause the Performance Compensation Awards granted to any Participant for the Performance Period to fail to qualify as “qualified performance-based compensation” under Section 162(m) of the Code), in its
discretion, to adjust or modify the calculation of a Performance Goal for such Performance Period to the extent permitted under Section 162(m) of the Code (A) in the event of, or in anticipation of, any unusual or extraordinary corporate
item, transaction, event or development affecting the Company, or any of its Affiliates, Subsidiaries, divisions or operating units (to the extent applicable to such Performance Goal) or (B) in recognition of, or in anticipation of, any other
unusual or nonrecurring events affecting the Company or any of its Affiliates, Subsidiaries, divisions or operating units (to the extent applicable to such Performance Goal), or the financial statements of the Company or any of its Affiliates,
Subsidiaries, divisions or operating units (to the extent applicable to such Performance Goal), or of changes in applicable rules, rulings, regulations or other requirements of any 

  
 14 

 
governmental body or securities exchange, accounting principles, law or business conditions. 
 (vi) Payment of Performance Compensation Awards. (A) Condition to Receipt of Payment. A Participant must be employed by the Company or one of its Subsidiaries on the last day of a
Performance Period to be eligible for payment in respect of a Performance Compensation Award for such Performance Period. Notwithstanding the foregoing and to the extent permitted by Section 162(m) of the Code, in the discretion of the
Committee, Performance Compensation Awards may be paid to Participants who have retired or whose employment has terminated prior to the last day of the Performance Period for which a Performance Compensation Award is made, or to the designee or
estate of a Participant who died prior to the last day of a Performance Period. 
 (B) Limitation. Except as otherwise
permitted by Section 162(m) of the Code, a Participant shall be eligible to receive payments in respect of a Performance Compensation Award only to the extent that (1) the Performance Goal(s) for the relevant Performance Period are
achieved and certified by the Committee in accordance with Section 6(g)(vi)(C) and (2) the Performance Formula as applied against such Performance Goal(s) determines that all or some portion of such Participant’s Performance
Compensation Award has been earned for such Performance Period. 
 (C) Certification. Following the completion of a
Performance Period, the Committee shall certify in writing whether, and to what extent, the Performance Goals for the Performance Period have been achieved and, if so, certify in writing that amount of the Performance Compensation Awards earned for
the period based upon the Performance Formula. The Committee shall then determine the actual amount of each Participant’s Performance Compensation Award for the Performance Period and, in so doing, may apply negative discretion as authorized by
Section 6(g)(vi)(D). 
 (D) Negative Discretion. In determining the actual amount of an individual Performance
Compensation Award for a Performance Period, the Committee may, in its discretion, reduce or eliminate the amount of the Award earned in the Performance Period, even if applicable Performance Goals have been attained. 

(E) Discretion. Except as otherwise permitted by Section 162(m) of the Code, in no event shall any discretionary
authority granted to the Committee by the Plan be used to (1) grant or provide payment in respect of Performance Compensation Awards for a Performance Period if the Performance Goals for such Performance Period have not been attained,
(2) increase a Performance Compensation Award for any Participant at any time after the first 90 days of the Performance Period (or, if shorter, the maximum period allowed under Section 162(m) of the Code) or (3) increase the amount
of a Performance Compensation Award above the maximum amount payable under Section 4(a) of the Plan. 
 (h) Dividends
and Dividend Equivalents. In the discretion of the Committee, an Award, other than an Option or SAR or a Cash Incentive Award, may provide the Participant with dividends or dividend equivalents, payable in cash, Shares,

  
 15 

 
other securities, other Awards or other property, on a current or deferred basis, on such terms and conditions as may be determined by the Committee in its discretion, including, (A) payment
directly to the Participant, (B) withholding of such amounts by the Company subject to vesting of the Award or (C) reinvestment in additional Shares, Restricted Shares or other Awards. 

SECTION 7. Amendment and Termination. (a) Amendments to the Plan. Subject to any applicable law or government
regulation, to any requirement that must be satisfied if the Plan is intended to be a stockholder-approved plan for purposes of Section 162(m) of the Code and to the rules of NASDAQ or any successor exchange or quotation system on which the
Shares may be listed or quoted, the Plan may be amended, modified or terminated by the Board without the approval of the stockholders of the Company, except that stockholder approval shall be required for any amendment that would (i) increase
the Plan Share Limit or increase the maximum number of Shares that may be delivered pursuant to Incentive Stock Options granted under the Plan; provided, however, that any adjustment under Section 4(b) shall not constitute an
increase for purposes of this Section 7(a), (ii) change the class of employees or other individuals eligible to participate in the Plan or (iii) result in the amendment, cancelation or action described in clause (i), (ii) or
(iii) of the second sentence of Section 7(b) being permitted without approval by the Company’s stockholders. No amendment, modification or termination of the Plan may, without the consent of the Participant to whom any Award shall
theretofore have been granted, materially and adversely affect the rights of such Participant (or his or her transferee) under such Award, unless otherwise provided by the Committee in the applicable Award Agreement. 

(b) Amendments to Awards. The Committee may waive any conditions or rights under, amend any terms of, or alter, suspend,
discontinue, cancel or terminate any Award theretofore granted, prospectively or retroactively; provided, however, that, except as set forth in the Plan, unless otherwise provided by the Committee in the applicable Award Agreement, any
such waiver, amendment, alteration, suspension, discontinuance, cancelation or termination that would materially and adversely impair the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that
extent be effective without the consent of the applicable Participant, holder or beneficiary. Notwithstanding the preceding sentence, in no event may any Option or SAR (i) be amended to decrease the Exercise Price thereof, (ii) be
cancelled at a time when its Exercise Price exceeds the Fair Market Value of the underlying Shares in exchange for another Option or SAR or any Restricted Share, RSU, other equity-based Award, award under any other equity-compensation plan or any
cash payment or (iii) be subject to any action that would be treated, for accounting purposes, as a “repricing” of such Option or SAR, unless such amendment, cancellation or action is approved by the Company’s stockholders. For
the avoidance of doubt, an adjustment to the Exercise Price of an Option or SAR that is made in accordance with Section 4(b) or Section 8 shall not be considered a reduction in Exercise Price or “repricing” of such Option or SAR.

 SECTION 8. Change of Control. Unless otherwise provided in the applicable Award Agreement, in the event of a Change of
Control after the date of the adoption of the Plan, unless provision is made in connection with the Change of Control 

  
 16 

 
for (a) assumption of Awards previously granted or (b) substitution for such Awards of new awards covering stock of a successor corporation or its “parent corporation” (as
defined in Section 424(e) of the Code) or “subsidiary corporation” (as defined in Section 424(f) of the Code) with appropriate adjustments as to the number and kinds of shares and the Exercise Prices, if applicable, (i) any
outstanding Options or SARs then held by Participants that are unexercisable or otherwise unvested shall automatically be deemed exercisable or otherwise vested, as the case may be, as of five days prior to such Change of Control, (ii) all
Awards designated as Performance Compensation Awards shall be paid out as if the date of the Change of Control were the last day of the applicable Performance Period and “target” performance levels had been attained and (iii) all
other outstanding Awards (i.e., other than Options, SARs and Awards designated as Performance Compensation Awards) then held by Participants that are unexercisable, unvested or still subject to restrictions or forfeiture, shall automatically
be deemed exercisable and vested and all restrictions and forfeiture provisions related thereto shall lapse as of immediately prior to such Change of Control. 
 SECTION 9. General Provisions. (a) Award Agreements. Each Award hereunder shall be evidenced by an Award Agreement, which shall be delivered to the Participant and shall specify the
terms and conditions of the Award and any rules applicable thereto, including the effect on such Award of the death, disability or termination of employment or service of a Participant and the effect, if any, of such other events as may be
determined by the Committee. 
 (b) Share Certificates. All certificates for Shares or other securities of the Company or
any Affiliate delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan, the applicable Award Agreement or the
rules, regulations and other requirements of the SEC, NASDAQ or any other stock exchange or quotation system upon which such Shares or other securities are then listed or reported and any applicable Federal or state laws, and the Committee may cause
a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 
 (c)
Nontransferability. Except as otherwise specified in the applicable Award Agreement, during the Participant’s lifetime each Award (and any rights and obligations thereunder) shall be exercisable only by the Participant, or, if
permissible under applicable law, by the Participant’s legal guardian or representative, and no Award (or any rights and obligations thereunder) may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a
Participant otherwise than by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate;
provided that (i) the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance and (ii) the Board or the Committee may adopt rules permitting the transfer, solely
as gifts during the Participant’s lifetime, of Awards to (x) members of a Participant’s immediate family or to trusts, family partnerships or similar entities for the benefit of such immediate family members (such term meaning the
Participant’s spouse, parent, 

  
 17 

 
child, stepchild, grandchild and the spouses of such family members) and (y) charitable institutions; provided, however, that Incentive Stock Options granted under the Plan
shall not be transferable in any way that would violate Section 1.422-2(a)(2) of the Treasury Regulations and in no event may any Award (or any rights and obligations thereunder) be transferred in any way in exchange for value. All terms and
conditions of the Plan and all Award Agreements shall be binding upon any permitted successors and assigns. 
 (d) Other
Laws; Restrictions on Transfer of Shares. The Committee may refuse to issue or transfer any Shares or other consideration under an Award if, acting in its discretion, it determines that the issuance or transfer of such Shares or such other
consideration might violate any applicable law or regulation or entitle the Company to recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the Company by a Participant, other holder or beneficiary in connection
with the exercise of such Award shall be promptly refunded to the relevant Participant, holder or beneficiary. Without limiting the generality of the foregoing, no Award granted hereunder shall be construed as an offer to sell securities of the
Company, and no such offer shall be outstanding, unless and until the Committee in its discretion has determined that any such offer, if made, would be in compliance with all applicable requirements of the Federal and any other applicable securities
laws. 
 (e) No Rights to Awards. No Participant or other Person shall have any claim to be granted any Award, and there
is no obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect
to each Participant and may be made selectively among Participants, whether or not such Participants are similarly situated. 

(f) No Right to Employment. The grant of an Award shall not be construed as giving a Participant the right to be retained as a
director, officer, employee or consultant of or to the Company or any Affiliate, nor shall it be construed as giving a Participant any rights to continued service on the Board. Further, the Company or an Affiliate may at any time dismiss a
Participant from employment or discontinue any directorship or consulting relationship, free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan or in any Award Agreement. 

(g) No Rights as a Stockholder. No Participant or holder or beneficiary of any Award shall have any rights as a stockholder with
respect to any Shares to be distributed under the Plan until he or she has become the holder of such Shares. In connection with each grant of Restricted Shares, except as provided in the applicable Award Agreement, the Participant shall be entitled
to the rights of a stockholder (including the right to vote) in respect of such Restricted Shares. Except as otherwise provided in Section 4(b) or the applicable Award Agreement, no adjustments shall be made for dividends or distributions on
(whether ordinary or extraordinary, and whether in cash, Shares, other securities or other property), or other events relating to, Shares subject to an Award for which the record date is prior to the date such Shares are delivered. 

  
 18 

 (h) No Trust or Fund Created. Neither the Plan nor any Award shall create or be
construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate, on one hand, and a Participant or any other Person, on the other. To the extent that any Person acquires a right to receive
payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company or such Affiliate. 

(i) No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee
shall determine whether cash, other securities or other property shall be paid or transferred in lieu of any fractional Shares or whether such fractional Shares or any rights thereto shall be canceled, terminated or otherwise eliminated. 

(j) No Limit on Other Compensation Arrangements. Nothing contained in the Plan shall prevent the Company or any Affiliate from
adopting or continuing in effect other compensation arrangements, which may, but need not, provide for the grant of options, restricted stock, shares, other types of equity-based awards (subject to stockholder approval if such approval is required)
and cash incentive awards, and such arrangements may be either generally applicable or applicable only in specific cases. 
 (k)
Recoupment of Awards. Any Award Agreement may (i) provide for recoupment by the Company of all or any portion of an Award if the Company’s financial statements are required to be restated due to noncompliance with any financial
reporting requirement under the Federal securities laws or (ii) include restrictive covenants, including non-competition, non-disparagement and confidentiality conditions or restrictions, that the Participant must comply with during employment
by the Company or for a specified period thereafter as a condition to the Participant’s receipt or retention of all or any portion of an Award. This Section 9(k) shall not be the Company’s exclusive remedy with respect to such
matters. 
 (l) Withholding. (i) Authority to Withhold. A Participant may be required to pay to the Company
or any Affiliate, and the Company or any Affiliate shall have the right and is hereby authorized to withhold from any Award, from any payment due or transfer made under any Award or under the Plan or from any compensation or other amount owing to a
Participant, the amount (in cash, Shares, other securities, other Awards or other property) of any applicable withholding taxes in respect of an Award, its exercise or any payment or transfer under an Award or under the Plan and to take such other
action as may be necessary in the opinion of the Committee or the Company to satisfy all obligations for the payment of such taxes. 
 (ii) Alternative Ways to Satisfy Withholding Liability. Without limiting the generality of clause (i) above, subject to the Committee’s discretion, a Participant may satisfy, in whole or
in part, the foregoing withholding liability by delivery of Shares owned by the Participant (which are not subject to any pledge or other security interest) having a Fair Market Value equal to such withholding liability or by having the Company
withhold from the number of Shares otherwise issuable pursuant to the exercise of the Option or SAR, or the lapse of the restrictions on any other Award (in 

  
 19 

 
the case of SARs and other Awards, if such SARs and other Awards are settled in Shares), a number of Shares having a Fair Market Value equal to such withholding liability. 

(m) Section 409A. (i) It is intended that the provisions of the Plan comply with Section 409A of the Code, and all
provisions of the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. 
 (ii) No Participant or the creditors or beneficiaries of a Participant shall have the right to subject any deferred compensation (within the meaning of Section 409A of the Code) payable under the
Plan to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A of the Code, any deferred compensation (within the meaning of Section 409A of the
Code) payable to any Participant or for the benefit of any Participant under the Plan may not be reduced by, or offset against, any amount owing by any such Participant to the Company or any of its Affiliates. 

(iii) If, at the time of a Participant’s separation from service (within the meaning of Section 409A of the Code),
(A) such Participant shall be a specified employee (within the meaning of Section 409A of the Code and using the identification methodology selected by the Company from time to time) and (B) the Company shall make a good faith
determination that an amount payable pursuant to an Award constitutes deferred compensation (within the meaning of Section 409A of the Code) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in
Section 409A of the Code in order to avoid taxes or penalties under Section 409A of the Code, then the Company shall not pay such amount on the otherwise scheduled payment date but shall instead pay it on the first business day after such
six-month period. Such amount shall be paid without interest, unless otherwise determined by the Committee, in its discretion, or as otherwise provided in any applicable employment agreement between the Company and the relevant Participant.

 (iv) Notwithstanding any provision of the Plan to the contrary, in light of the uncertainty with respect to the proper
application of Section 409A of the Code, the Company reserves the right to make amendments to any Award as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A of the Code. In any case,
a Participant shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on such Participant or for such Participant’s account in connection with an Award (including any taxes and penalties under
Section 409A of the Code), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise hold such Participant harmless from any or all of such taxes or penalties. 

(n) Requirement of Consent and Notification of Election Under Section 83(b) of the Code or Similar Provision. No election
under Section 83(b) of the Code (to include in gross income in the year of transfer the amounts specified in Section 83(b) of the Code) or under a similar provision of law may be made unless expressly permitted by

  
 20 

 
the terms of the applicable Award Agreement or by action of the Committee in writing prior to the making of such election. If an Award recipient, in connection with the acquisition of Shares
under the Plan or otherwise, is expressly permitted under the terms of the applicable Award Agreement or by such Committee action to make such an election and the Participant makes the election, the Participant shall notify the Committee of such
election within ten days of filing notice of the election with the Internal Revenue Service (or any successor thereto) or other governmental authority, in addition to any filing and notification required pursuant to regulations issued under
Section 83(b) of the Code or any other applicable provision. 
 (o) Requirement of Notification Upon Disqualifying
Disposition Under Section 421(b) of the Code. If any Participant shall make any disposition of Shares delivered pursuant to the exercise of an Incentive Stock Option under the circumstances described in Section 421(b) of the Code
(relating to certain disqualifying dispositions) or any successor provision of the Code, such Participant shall notify the Company of such disposition within ten days of such disposition. 

(p) Governing Law. The validity, construction and effect of the Plan and any rules and regulations relating to the Plan and any
Award Agreement shall be determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of laws provisions thereof. 
 (q) Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify
the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the
Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, Person or Award and the remainder of the Plan and any such Award shall remain in full force and effect.

 (r) Headings and Construction. Headings are given to the Sections and subsections of the Plan solely as a convenience
to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. Whenever the words “include”, “includes” or
“including” are used in this Plan, they shall be deemed to be followed by the words “but not limited to”. 

SECTION 10. Term of the Plan. (a) Effective Date. The Plan shall be effective as of the date of its adoption by the
Board and approval by the Company’s stockholders. 
 (b) Expiration Date. No Award shall be granted under the Plan
after the tenth anniversary of the date the Plan is approved by the Company’s stockholders under Section 10(a). Unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award granted hereunder, and the
authority of the Board or the 

  
 21 

 
Committee to amend, alter, adjust, suspend, discontinue or terminate any such Award or to waive any conditions or rights under any such Award, shall nevertheless continue thereafter. 

  
 22The Fresh Market, Inc. Employee Stock Purchase Plan

 Exhibit 10.11 
 THE FRESH MARKET, INC. 
 EMPLOYEE STOCK PURCHASE PLAN 

1. Purpose. 
 The purpose
of this Employee Stock Purchase Plan is to provide employees of The Fresh Market, Inc. and its subsidiaries with an opportunity to purchase shares of The Fresh Market, Inc. common stock through accumulated payroll deductions. The Plan is intended to
qualify as an “Employee Stock Purchase Plan” under Section 423 of the Internal Revenue Code of 1986, as amended. 
 2.
Definitions. 
 (a) “Board” shall mean the Board of Directors of the Company. 

(b) “Business Day” shall mean a day on which national stock exchanges are open for trading. 

(c) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(d) “Committee” shall mean the compensation committee of the Board, or such other committee of the Board as may be
designated by the Board to administer the Plan. 
 (e) “Company” shall mean The Fresh Market, Inc., a
corporation organized under the laws of the State of Delaware, together with any successor thereto. 
 (f)
“Compensation” shall mean an Employee’s regular wages. 
 (g) “Designated Subsidiary”
shall mean any Subsidiary of the Company designated by the Board from time to time in its sole discretion as eligible to participate in the Plan. 
 (h) “Employee” shall mean any individual who is an employee of the Company or a Designated Subsidiary for purposes of Section 423 of the Code. For purposes of the Plan, the
employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company or a Designated Subsidiary, except that where the period of leave exceeds 90 days and the
individual’s right to reemployment is not guaranteed by either statute or contract, the employment relationship shall be deemed to have terminated on the 91st day of such leave. 

(i) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

(j) “Fair Market Value” on any date shall mean, except as otherwise provided in the applicable offering, with respect to
Shares as of any date, (i) the closing per-share sales price of the Shares (A) as reported by the NASDAQ Global Select Market for such date or (B) if the Shares are listed on any other national stock exchange, as reported on

 
the stock exchange composite tape for securities traded on such stock exchange for such date or, with respect to each of clauses (A) and (B), if there were no sales on such date, on the
closest preceding date on which there were sales of Shares or (ii) in the event there shall be no public market for the Shares on such date, the fair market value of the Shares as determined in good faith by the Committee. 

(k) “Grant Date” shall mean the first day of each Offering Period. For purposes of Section 423 of the Code, the
Company shall be deemed to have granted to each Participant an option to purchase Shares on each Grant Date. 
 (l)
“Offering Period” shall mean the period set by the Committee, from time to time, during which an option granted hereunder is outstanding, but in no event shall the term of any Offering Period exceed the limits described in
Section 423(b)(7) of the Code. The duration of Offering Periods need not be identical. 
 (m) “Parent”
shall mean a corporation, domestic or foreign, that owns not less than 50% of the voting shares of the Company or of another Parent, whether or not such corporation now exists or is hereafter organized or acquires the Company or a Parent.

 (n) “Participant” shall mean an eligible Employee who has elected to participate in the Plan in accordance
with Section 5. 
 (o) “Plan” shall mean this Employee Stock Purchase Plan. 

(p) “Purchase Date” shall mean the last Business Day of each Offering Period. 

(q) “Purchase Price” shall mean an amount set by the Committee, which may be no less than the lower of 85% of the Fair
Market Value of a Share on the applicable Grant Date or the applicable Purchase Date. 
 (r) “Reserves” shall
mean the number of Shares covered by each option under the Plan that has not yet been exercised and the number of Shares that has been authorized for issuance under the Plan, but not yet placed under option. 

(s) “Shares” shall mean the authorized shares of common stock of the Company, $0.01 par value, as may be adjusted by the
Board from time to time. Any adjustment to the par value of a Share shall be incorporated herein without any need to otherwise amend the Plan. 
 (t) “Subsidiary” shall mean a corporation, domestic or foreign, of which not less than 50% of the voting shares are held by the Company or another Subsidiary, whether or not such
corporation now exists or is hereafter organized or acquired by the Company or a Subsidiary. 
 (u) “Treasury
Regulations” shall mean all proposed, temporary and final regulations promulgated under the Code, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations). 

  
 2 

 3. Eligibility. 
 (a) Any Employee that is employed by the Company or a Designated Subsidiary on a given Grant Date shall be eligible to participate in the Plan. 

(b) Any provisions of the Plan to the contrary notwithstanding, no Employee shall be granted an option under the Plan: 

(1) to the extent that, immediately after the grant of such option hereunder, such Employee (including by attribution under
Section 424(d) of the Code) would own capital stock of the Company (or a Parent or Subsidiary) or hold outstanding options to purchase stock of the Company (or a Parent or Subsidiary) constituting in the aggregate five percent or more of the
total combined voting power or value of all classes of the capital stock of the Company (or a Parent or Subsidiary), or 
 (2)
to the extent that, immediately after the grant of such option hereunder, such Employee’s option rights to purchase stock under this Plan and any other employee stock purchase plans of the Company and its Parent and Subsidiary corporations
exceeds $25,000 worth of stock (based on the Fair Market Value of the Shares at the applicable Grant Date) in the aggregate for each calendar year in which such option right is outstanding at any time. 

4. Offering Periods. 

The Plan shall be implemented by consecutive or overlapping Offering Periods, with a new Offering Period commencing on such date as the
Committee shall determine, and continuing thereafter until the applicable Purchase Date or until the Offering Period is terminated in accordance with Section 20. 
 5. Participation. 
 (a) An eligible Employee may become a Participant in the
Plan by completing a subscription agreement authorizing payroll deductions in the form provided by the Company and returning it to the Committee within such time period prior to the date for which it is to be effective as shall be established by the
Committee. If the subscription agreement is not timely executed and returned, the eligible Employee shall not be permitted to participate in the Plan until the first Grant Date subsequent thereto as of which the Committee has received a subscription
agreement executed within the time, and in the form, prescribed by the Committee. 
 (b) Payroll deductions for a Participant
shall commence on the first payroll date occurring on or after the applicable Grant Date and shall end on the last payroll date occurring on or before the end of the Offering Period to which such authorization is applicable, unless sooner terminated
by the Participant as provided in Section 10. 

  
 3 

 6. Payroll Deductions. 
 (a) At the time a Participant files his or her subscription agreement, the Participant shall elect to have payroll deductions made on each payday during the Offering Period in the manner prescribed by the
Committee. For example, the Committee may provide that Participants shall elect to have such payroll deductions equal (i) a whole percentage (e.g., 1%, 2%, etc.) of the Compensation that the Participant receives on each payday during
such Offering Period or (ii) an absolute dollar amount (e.g., $50, $125, etc.). 
 (b) The maximum number of Shares
that may be purchased by a Participant during an Offering Period shall equal $25,000 divided by the Fair Market Value of a Share as of the Grant Date. 
 (c) All payroll deductions made for a Participant shall be credited to his or her account under the Plan. A Participant may not make any additional payments into such account. A Participant’s account
shall be only a bookkeeping account maintained by the Company, and neither the Company nor any Parent or Subsidiary shall be obligated to segregate or hold in trust or escrow any funds in a Participant’s account. Unless specifically provided
herein, except for amounts not expended because of the Plan rule that fractional Shares shall not be purchased, no amount of accumulated payroll deductions shall be carried over with respect to any Participant from the end of one Offering Period to
the beginning of another. 
 (d) The Committee may permit a Participant to modify his or her payroll deduction election on such
occasions and with such frequency as the Committee determines in its sole discretion. The Committee may also prescribe procedures by which Participants must notify the Committee with respect to any such modifications. A Participant’s
subscription agreement shall remain in effect for successive (and overlapping) Offering Periods unless terminated as provided in Section 10. 
 (e) Notwithstanding the foregoing, to the extent necessary to comply with the limitations of Section 423(b)(8) of the Code and Sections 3(b) and 6(b), a Participant’s payroll deductions may
be decreased to 0% at any time during an Offering Period. In such event, payroll deductions shall recommence at the rate provided in such Participant’s subscription agreement at the beginning of the first Offering Period scheduled to end in the
following calendar year, unless terminated by the Participant as provided in Section 10. 
 (f) If a Participant is also a
participant in a profit sharing plan subject to Sections 401(a) and 401(k) of the Code that is maintained by the Company or any Parent or Subsidiary and receives a hardship distribution under such plan, the Participant’s payroll deductions
under this Plan shall cease for a period of six months from the date of such hardship distribution. 
 (g) At the time an option
granted hereunder is exercised, in whole or in part, or at the time some or all of the Shares issued under the Plan are disposed of, the Participant 

  
 4 

 
must make adequate provision for U.S. Federal, state or other tax withholding obligations, if any, arising upon the exercise of the option or the disposition of the Shares. The Company may, but
shall not be obligated to, withhold from the Participant’s compensation the amount necessary for the Company to meet applicable withholding obligations related to the Participant’s tax obligations, including any withholding required to
make available to the Company any tax deductions or benefits attributable to sale or early disposition of Shares by the Employee that may be available to it. 
 7. Grant of Option. 
 Effective on the Grant Date of each Offering Period,
each Participant in such Offering Period shall be granted an option to purchase on the Purchase Date of such Offering Period, at the applicable Purchase Price, a number of Shares determined by dividing (i)(A) such Participant’s total payroll
deductions actually made during such Offering Period and retained in the Participant’s account as of such Purchase Date plus (B) any payroll deductions that were retained in the Participant’s account from a prior Offering Period
because of the prohibition on the purchase of fractional Shares (as described in Section 8) by (ii) such Purchase Price. 
 8.
Exercise of Option. 
 (a) Unless a Participant withdraws from the Plan as provided in Section 10, and except to the
extent that the limitation of Section 423(b)(8) of the Code or Section 6(b) would otherwise be violated, the Participant’s option for the purchase of Shares shall be exercised automatically on the applicable Purchase Date, and the
maximum number of whole Shares subject to such option shall be purchased for such Participant at the applicable Purchase Price with the accumulated payroll deductions in the Participant’s account. No fractional shares shall be purchased. Any
payroll deductions accumulated in a Participant’s account that are insufficient to purchase a whole Share shall be retained in the Participant’s account for the subsequent Offering Period, subject to earlier withdrawal by the Participant
as provided in Section 10. During a Participant’s lifetime, a Participant’s option to purchase Shares hereunder is exercisable only by such Participant. 

(b) Each option granted hereunder shall expire on the applicable Purchase Date after giving effect to the provisions
of Section 8(a). 
 (c) A Participant’s option to purchase Shares hereunder shall expire as of the date such
Participant is no longer employed by the Company or a Designated Subsidiary, as applicable (as provided in Section 11), unless it has previously expired pursuant to Section 8(b). 

9. Delivery; Dividends; Subsequent Transfer or Disposition by Participant. 

(a) The Committee may prescribe procedures by which the Company shall evidence the transfer (including a transfer by electronic
transaction) of Shares purchased on each Purchase Date upon exercise of an option by a Participant. Such procedures may 

  
 5 

 
include the issuance of a stock certificate or the registration in book-entry form of the Shares in the Company’s (or its agent’s) records. 

(b) If dividends are declared by the Company and Shares are held in a Participant’s Plan account, the Committee shall determine, in
its sole discretion, how such dividends shall be distributed with respect to such Shares. The Committee may, for example, require that such dividends be deposited directly into the Participant’s Plan account and be used for the purchase of
additional Shares on the next Purchase Date following the date on which the dividends are paid. 
 (c) For a period of two years
after the Grant Date of any option granted hereunder and one year after the Purchase Date on which such option is exercised, no Participant shall transfer any Shares purchased upon exercise of such option from such Participant’s Plan account to
a different brokerage or other account. After the holding periods described in this Section 9(c) with respect to any option granted hereunder, a Participant may transfer Shares purchased upon exercise of such option to a different brokerage or
other account. 
 (d) During each period described in Section 9(c) with respect to any option granted hereunder, any
disposition of Shares purchased upon exercise of such option by such Participant will be treated as a “disqualifying disposition” pursuant to Section 423 of the Code to the extent provided therein. A disposition of such Shares by the
Participant after the holding periods described in Section 9(c) shall be treated as a “qualifying disposition” pursuant to Section 423 of the Code to the extent provided therein. 

10. Withdrawal. 
 A
Participant may revoke his or her election to participate in the Plan at any time. The Committee may prescribe procedures by which Participants must notify the Committee with respect to any such revocation. Such revocation shall be effective as soon
as practicable after receipt thereof by the Committee, in the form prescribed by the Committee. Upon receipt by the Committee of such revocation, all amounts credited to such Participant’s Plan account shall be returned to the Participant as
soon as administratively feasible thereafter. Such Participant may again participate in the Plan, effective as of any subsequent Offering Period, by completing a new subscription agreement, as provided in Section 5(a). Unless the Committee
receives a revocation within the time period prior to the applicable Purchase Date that is established by the Committee and communicated to Participants, such revocation shall not be effective to avoid the exercise of an option under the Plan on
such Purchase Date. 
 11. Termination of Employment. 
 Upon a Participant’s ceasing to be an Employee for any reason at any time on or before a Purchase Date of an Offering Period, he or she shall be deemed to have elected to withdraw his or her payroll
deduction election, and the payroll deductions credited to such Participant’s account during such Offering Period shall be returned to such 

  
 6 

 
Participant or, in the case of a Participant’s death, to the person or persons entitled thereto under Section 15, and such Participant’s option shall be automatically terminated.
The Participant shall retain his or her rights under the Plan with respect to any Shares held in his or her Plan account. 
 12. No
Interest. 
 No interest shall accrue or be payable on the payroll deductions of a Participant in the Plan. 

13. Stock. 
 (a) The
Shares to be sold to Participants under the Plan may, at the election of the Company, be either treasury shares or shares newly issued by the Company. 
 (b) Subject to adjustment upon changes in capitalization of the Company as provided in Section 19, the maximum number of Shares available for sale under the Plan shall be 1,000,000 Shares. If on
a given Purchase Date the number of Shares with respect to which options are to be exercised exceeds the number of Shares then available under the Plan, the Company shall make a pro rata allocation of the Shares remaining available for
purchase in as uniform a manner as shall be practicable and as it shall determine to be equitable. 
 (c) A Participant shall
have no interest or voting rights in Shares covered by the Participant’s option or in any dividends declared by the Company in respect of its outstanding Shares until such option has been exercised. 

14. Administration. 
 The
Plan shall be administered by the Committee. The express grant in the Plan of any specific power to the Committee shall not be construed as limiting any power or authority of the Committee. No member of the Committee shall be liable for any act done
in good faith with respect to the Plan or any subscription agreement or option granted under the Plan. To the extent not delegated to Participants by the Committee, the Company shall bear all expenses of Plan administration. The interpretation and
construction by the Committee of any terms or provisions of the Plan or of any rule or regulation promulgated in connection herewith shall be conclusive and binding on all persons. All determinations of the Committee shall be made by a majority of
its members. In addition to all other authority vested with the Committee under the Plan, the Committee shall have the sole and absolute discretion to: 
 (a) construe and interpret all provisions of the Plan; 
 (b) prescribe the form of
any subscription agreement or notice hereunder and the manner for executing or giving the same; 
 (c) establish, amend, and
revoke such rules and regulations as it may deem appropriate for the proper administration of the Plan; 

  
 7 

 (d) delegate to one or more individuals the right to act on its behalf in such matters as it
may authorize; and 
 (e) make all determinations it deems advisable for the proper administration of the Plan. 

15. Designation of Beneficiary. 
 (a) A Participant may file a written designation of a beneficiary who is to receive any Shares and cash, if any, from the Participant’s account under the Plan in the event of such Participant’s
death subsequent to any Purchase Date on which the option is exercised, but before delivery to such Participant of such Shares and cash. In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the
Participant’s account under the Plan in the event of such Participant’s death before exercise of the option. If a Participant is married and the designated beneficiary is not the spouse, spousal consent shall be required for such
designation to be effective, if such consent is required under applicable law. 
 (b) Such designation of beneficiary may be
changed by the Participant at any time by written notice. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company shall
deliver such Shares or cash to the executor or administrator of the estate of the Participant or, if to the best of the Company’s knowledge no such executor or administrator has been appointed, the Company, in its discretion, may deliver such
Shares or cash to the spouse or to any one or more dependents or relatives of the Participant, or, if no spouse, dependent, or relative is known to the Company, then to such other person as the Company may designate. 

16. Transferability. 

Neither payroll deductions credited to a Participant’s account nor any rights with regard to the exercise of an option or to receive
Shares under the Plan may be assigned, transferred, pledged, or otherwise disposed of in any way (other than by will, the laws of descent and distribution, or as provided in Section 15) by the Participant. Any such attempt at assignment,
transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 10. 

17. Use of Funds. 
 All
payroll deductions received or held by the Company under the Plan shall be general corporate funds and as such may be used by the Company for any corporate purpose, and the Company shall not be obligated to segregate such payroll deductions or pay
interest thereon. 

  
 8 

 18. Reports. 
 Individual accounts shall be maintained for each Participant in the Plan. Statements of account shall be given to Participants at least annually, which statements shall set forth the amounts of payroll
deductions, the Purchase Price, the number of Shares purchased, and the remaining cash balance, if any. The statements shall also include any additional information that must be included under applicable Treasury Regulations. 

19. Adjustments Upon Changes in Capitalization, Dissolution, Liquidation, Merger, or Asset Sale. 

(a) Subject to any required action by the stockholders of the Company and the requirements of applicable law, the Reserves, the maximum
number of Shares each Participant may purchase per Offering Period, as well as the price per Share and the number of Shares covered by each option under the Plan which has not yet been exercised, shall be proportionately adjusted for any increase or
decrease in the number of issued Shares resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Shares, spin-off, extraordinary dividend or any other increase or decrease in the number of Shares
effected without receipt of consideration by the Company. Such adjustment shall be made by the Committee, whose determination in that respect shall be final and binding on all parties. Except as expressly provided herein, no issuance by the Company
of shares of stock of any class, or of securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of Shares subject to an option. 

(b) In the event of the proposed dissolution or liquidation of the Company, or in the event of a proposed sale of all or substantially
all of the assets of the Company, or a proposed merger of the Company with or into another corporation, options granted under the Plan shall terminate immediately prior to the consummation of such proposed action, unless otherwise provided by the
Committee. In such instances, the Committee may in its sole discretion declare that any option shall terminate as of the date fixed by the Committee and (i) accelerate a Participant’s right to purchase any or all of the Shares subject to
such option or (ii) refund any cash held in a Participant’s Plan account. 
 20. Amendment and Termination. 

(a) The Board may at any time and for any reason amend or terminate the Plan. Except as provided in Section 19, no such termination
can affect options previously granted, provided that an Offering Period may be terminated by the Board if the Board determines that the termination of the Offering Period or the Plan is in the best interests of the Company and its stockholders. In
connection with such termination, the Board may accelerate a Participant’s right to purchase any or all of the Shares pursuant to an option previously granted hereunder or refund any cash held in a Participant’s Plan account. Except as
provided in Section 19 and this Section 20, no amendment may make any change in any option theretofore granted that results in a material adverse effect to the rights of any Participant. To the extent necessary to comply with
Section 423 of the 

  
 9 

 
Code (or any other applicable law, regulation, or stock exchange rule), the Company shall obtain stockholder approval in such manner and to such degree as required. 

(b) Without stockholder consent and without regard to whether any Participant’s rights may be considered to have been
“adversely affected,” the Board shall be entitled to: (i) change the Offering Periods, the maximum amount of permitted payroll deductions, and the frequency or number of permitted changes in the amount withheld during an Offering
Period; (ii) establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars; (iii) permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes
in the Company’s processing of properly completed withholding elections; (iv) establish reasonable waiting and adjustment periods and accounting and crediting procedures to ensure that amounts applied toward the purchase of Shares for each
Participant properly correspond with amounts withheld from the Participant’s Compensation; and (v) establish such other limitations and procedures as the Board determines in its sole discretion are advisable. 

(c) In the event that the Board determines that the ongoing operation of the Plan may result in unfavorable financial accounting
consequences, the Board may, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequences including, but not limited to: 

(1) altering the Purchase Price for any Offering Period, including an Offering Period underway at the time of the change in Purchase
Price; or 
 (2) shortening any Offering Period so that the Offering Period ends on a new Purchase Date, including an Offering
Period underway at the time of the Board action. Such modifications or amendments shall not require stockholder approval or the consent of any Plan Participants. 
 21. Notices. 
 All notices or other communications by a Participant to the
Company under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

22. Conditions Upon Issuance of Shares. 
 (a) Shares shall not be issued with respect to an option unless the exercise of such option and the issuance and delivery of such Shares pursuant thereto will comply with all applicable provisions of law,
domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, and the requirements of any stock exchange on which the Shares may then be listed, and
shall be further subject to the approval of counsel for the Company with respect to such compliance. 

  
 10 

 (b) As a condition to the exercise of an option, the Company may require the person
exercising such option 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 by any of the aforementioned applicable provisions of law. The Committee may also require such other action or agreement by the Participants as may from time to time be necessary to comply with applicable
laws, rules and regulations. This provision shall not obligate the Company or any Parent or Subsidiary to undertake registration or qualification of options or Shares hereunder or to perfect an exemption from such registration or qualification
requirements. 
 (c) Any certificate issued to evidence Shares for which an option is exercised may bear such legends and
statements as the Company or Committee may deem advisable to assure compliance with applicable laws, rules, regulations and Plan provisions. 

23. Term of Plan. 
 The
Plan shall become effective at the first Grant Date following its adoption by the Board, subject to approval by the Company’s stockholders in accordance with Section 1.423-2(c) of the Treasury Regulations. Once effective, the Plan shall
continue in effect for a term of ten years unless sooner terminated by the Board pursuant to Section 20. 
 24. Additional Restrictions
of Rule 16b-3. 
 The terms and conditions of options granted hereunder to, and the purchase of Shares by, persons subject to
Section 16 of the Exchange Act shall comply with the applicable provisions of Rule 16b-3. In the cases of any such persons, the Plan and options issued to such persons shall be deemed to contain, and the Shares issued upon exercise of such
options shall be subject to, such additional conditions and restrictions as may be required by Rule 16b-3 to qualify for the maximum exemption from Section 16 of the Exchange Act with respect to Plan transactions on behalf of such persons.

 25. Effect on Employment. 
 Neither the adoption of the Plan, its operation, nor any documents describing or referring to the Plan (or any part thereof) shall confer upon any Employee any right to continue in the employ of the
Company or a Designated Subsidiary or in any way affect any right and power of the Company or a Designated Subsidiary to terminate the employment of any Employee at any time with or without assigning a reason therefor. 

26. Unfunded Plan. 
 The
Plan, insofar as it provides for grants, shall be unfunded, and the Company shall not be required to segregate any assets that may at any time be represented by grants under the Plan. Any liability of the Company to any person with respect to any
grant under the Plan shall be based solely upon contractual obligations that may be created hereunder. No such obligation of the Company shall be deemed to be secured by any 

  
 11 

 
pledge of, or other encumbrance on, any property of the Company or any Parent or Subsidiary. 
 27. Rules of Construction. 
 Headings are given to the articles and sections
of this Plan solely as a convenience to facilitate reference. The reference to any statute, regulation or other provision of law shall be construed to refer to any amendment to or successor of such provision of law. Whenever the word
“include”, “includes” or “including” is used in the Plan, it shall be deemed to be followed by the words “but not limited to”. 
 28. Governing Law. 
 The laws of the State of Delaware shall apply to all
matters arising under this Plan, to the extent that Federal law does not apply. 
 29. Compliance with Securities Laws. 

Transactions under this Plan are intended to comply with all applicable securities laws. To the extent any provision of this Plan or
action by the Committee fails to so comply, the same shall be deemed null and void to the extent permitted by law and deemed advisable by the Committee. 
 30. Interpretation. 
 The provisions of the Plan shall be construed in a
manner consistent with the requirements of Section 423 and related sections of the Code. 

  
 12

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