Document:

Exhibit 10.1

 Exhibit 10.1 
 July 22, 2002 
  
  
  
  
 ICF CONSULTING GROUP, INC. 
 Management Stock Option Plan* 
  
  
  

	*	This document incorporates the changes made pursuant to Amendment No. 1 to ICF Consulting Group, Inc. Management Stock Option Plan, dated as of July 22, 2002.

 TABLE OF CONTENTS 
  

							
	1.	  	Establishment	  	1
			
	2.	  	Definitions	  	1
			
	3.	  	Scope of Plan	  	3
			
	4.	  	Administration	  	3
			
	5.	  	Eligibility	  	4
			
	6.	  	Conditions to Grants	  	4
				
		  	(a)	  	Grant of Straight Awards	  	4
				
		  	(b)	  	Incentive Awards	  	5
				
		  	(c)	  	Grants of Awards Upon Exit Event	  	6
			
	7.	  	Exercise of Options	  	7
			
	8.	  	Mandatory Tax Withholding	  	8
			
	9.	  	Elective Share Withholding	  	8
			
	10.	  	Termination of Employment	  	8
				
		  	(a)	  	For Cause	  	8
				
		  	(b)	  	On Account of Retirement, Death, Disability, or Involuntary Termination of Employment by the Company Without Cause	  	8
				
		  	(c)	  	Voluntary Termination of Employment	  	9
				
		  	(d)	  	Extended Exercisability	  	9
			
	11.	  	Substituted Awards	  	9
			
	12.	  	Securities Law Matters	  	9
			
	13.	  	Contribution of Shares to ICFC in Exchange for ICFC Interests	  	9
			
	14.	  	No Employment Rights	  	9
			
	15.	  	No Rights as a Stockholder or as an Interest Holder	  	10
			
	16.	  	Nature of Payments	  	10
			
	17.	  	Non-uniform Determinations	  	10

							
	18.	  	Adjustments	  	10
			
	19.	  	Amendment of the Plan	  	10
			
	20.	  	Termination of the Plan	  	10
			
	21.	  	No Illegal Transactions	  	10
			
	22.	  	Controlling Law	  	11
			
	23.	  	Severability	  	11
		
	 APPENDIX I
	  	
	 SCHEDULE A
	  	
	 SCHEDULE B
	  	

  

 ii 

 ICF Consulting Group, Inc. 
 Management Stock Option Plan 
 1. Establishment. ICF Consulting Group,
Inc. (the “Company”) hereby establishes the ICF Consulting Group, Inc. Management Stock Option Plan (the “Plan”) effective as of June 25, 1999. 
 2. Definitions. The terms set forth below have the following meanings (such meanings to be applicable to both the singular and plural forms): 
 (a) “Award” means stock options granted under the Plan. 
 (b) “Award Agreement” means the written agreement by which a Award shall be evidenced. 
 (c) “Board” means the Board of Directors of the Company. 
 (d) “Cause” means “cause” as defined in the Management Shareholders Agreement. 
 (e) “CDC Committee” means the Compensation Distribution Committee of the Board appointed pursuant to the By-laws of the
Company. 
 (f) “Code” means the Internal Revenue Code of 1986, as amended, and regulations and rulings
thereunder. References to a particular section of the Code include references to successor provisions. 
 (g)
“Committee” means the Compensation Committee of the Board appointed pursuant to the By-laws of the Company. 
 (h) “Common Stock” means the Company’s common stock, par value $0.01 per share. 
 (i)
“Company” — see Section 1. 
 (j) “Disability” means “disability” as
defined in the Management Shareholders Agreement. 
 (k) “EBITDA” means “EBITDA” as defined in the
Management Shareholders Agreement. 
 (l) “Effective Date” means June 25, 1999. 
 (m) “Eligible Employee” means any employee of the Company or any of its subsidiaries selected by the CDC Committee
provided that, the Chief Executive Officer of the Company shall not be an “Eligible Employee” hereunder. 

 (n) “Exit Event” means an “exit event” as defined in the
Management Shareholders Agreement. 
 (o) “Grant Date” see Sections 6(1)(i) and 6(c)(iv). 
 (p) “Grantee” means an individual who has been granted an Award. 
 (q) “ICFC” means ICF Consulting Group Holdings, LLC. 
 (r) “ICFC Interests” means membership interests in ICFC. 
 (s) “ICFC Operating Agreement” means the Limited Liability Company Agreement of ICFC, as amended from time to time.

 (t) “Incentive Award” means an Award granted pursuant to Section 6(b). 
 (u) “including” or “includes” means “including, without limitation,” or “includes,
without limitation,” respectively. 
 (v) “Management Shareholders Agreement” means the Management
Shareholders Agreement, dated as of June 25, 1999, by and among ICF Consulting Group, Inc., ICF Consulting Group Holdings, LLC, CM Equity Partners, L.P., CMEP Co-Investment ICF, L.P. and the persons listed in Schedules B and C thereto, as
amended from time to time. 
 (w) “Minimum Consideration” means $0.01 per Share or such other amount that is
from time to time considered to be capital for purposes of Section 154 of the Delaware General Corporation Law. 
 (x)
“Option Price” means the per share price of an option, as specified in the Award Agreement for such option. 
 (y) “Option Term” means the period beginning on the Grant Date of an option and ending on the expiration date of such option, as specified in the Award Agreement for such option and as may, in the discretion of the
Committee and consistently with the provisions of the Plan, be extended from time to time prior to the expiration date of such stock option then in effect. 
 (z) “Plan” — see Section 1. 
 (aa) “Pricing Fair Market
Value” of a Share of Common Stock shall be determined by the CDC Committee in good faith in accordance with Appendix I and reviewed and confirmed by the Committee. 
 (bb) “Required Withholding” — see Section 9. 
 (cc) “Retirement” means “retirement” as defined in the Management Shareholders Agreement. 
 (dd) “Share” means a share of Common Stock. 
  

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 (ee) “Share Withholding” — see Section 10(a). 
 (ff) “Specified Period” — see Section 11(d). 
 (gg) “Straight Award” means an Award granted pursuant to Section 6(a). 
 (hh) “Taxable Event” see Section 10(a). 
 (ii) “Tax Date” see Section 10(b)(ii). 
 (jj) “Termination of Employment” or similar references herein means an individual ceasing to be employed by the Company
and all its subsidiaries for any reason. 
 3. Scope of Plan. Subject to adjustment as provided in Section 19, the total number
of Shares available for grant pursuant to Awards provided under the Plan shall be the sum of (i)102.211457 Shares, being (x) 86.719680 Shares (18.00% of total issued and outstanding Shares as of June 25, 1999) plus
(y) 15.491777 Shares reserved for issuance on May 6, 2002, minus (ii) the aggregate number of Shares available for grant under the employment agreement of the Chief Executive Officer. 
 If any Shares subject to any Award granted hereunder are forfeited or repurchased by the Company or such Award otherwise terminates without the issuance
of such Shares or the payment of other consideration, the Shares subject to such Award, to the extent of any such forfeiture, repurchase or termination, shall again be available for grant under the Plan. Shares awarded under the Plan may be treasury
shares or newly issued shares. 
 4. Administration. 
 (a) The Plan shall be administered by the CDC Committee, except with respect to those matters reserved to the Committee, the Board of
Directors or the Company. 
 (b) Subject to the express provisions of the Plan, the CDC Committee has full and final authority
and sole discretion as follows: 
 (i) to determine when and to whom Awards should be granted and the terms and conditions
applicable to each award. 
 (ii) to determine the terms and conditions of all Award Agreements (which need not be identical)
and, with the consent of the Grantee and the Committee, to amend any such Award Agreement at any time; provided that the consent of the Grantee shall not be required for any amendment which (A) does not adversely affect the rights of the
Grantee, or (B) is necessary or advisable (as determined by the CDC Committee) to carry out the purpose of the Award as a result of any new or change in existing applicable law; and 
 (iii) to cancel, with the consent of the Grantee, outstanding Awards and to grant new Awards in substitution therefor. 
 (c) Subject to the express provisions of the Plan, the Committee has full and final authority and sole discretion, subject, in each case
in which a determination would 

  

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adversely affect the rights of the Grantees and potential Grantees, to the approval of the CDC Committee, as follows: 
 (i) to interpret the Plan and to make determinations necessary or advisable for the administration of the Plan; 
 (ii) to make, amend, and rescind rules relating to the Plan, rules with respect to the exercisability and nonforfeitability of Awards upon
the termination of employment of a Grantee; 
 (iii) subject to Section 6(a)(ii), 6(b)(ii) and 6(c)(ii), to extend the
time during which any award or group of Awards may be exercised; 
 (iv) to impose such additional terms and conditions upon
the grant, exercise or retention of Awards as the Committee may, before or concurrently with the grant thereof, deem appropriate; and 
 (v) to take any other action with respect to any matters relating to the Plan for which it is responsible. 
 Except to the extent approval of the CDC Committee, Grantees or potential Grantees is necessary, the determination of the Committee on all matters relating to the Plan or any Award Agreement shall be final. No member
of the Committee or the CDC Committee shall be liable for any action or determination made in good faith with respect to the Plan or any Award. 
 5. Eligibility. The CDC Committee may in its discretion grant Awards to any Eligible Employee, whether or not he or she has previously received an Award. 
 6. Conditions to Grants. 
 (a) Grant of Straight Awards. 
 (i) The Grant Date of a Straight Award shall be the date on which the CDC Committee grants the Award or such later date as specified in
advance by the CDC Committee. 
 (ii) Any provision of the Plan to the contrary notwithstanding, the Option Term shall under
no circumstances extend more than 10 years after the Grant Date, and shall be subject to earlier termination as herein provided. 
 (iii) To the extent not set forth in the Plan, the terms and conditions of each Straight Award shall be set forth in an Award Agreement. 
 (iv) The Option Price of Straight Awards shall be $77,260.33 or such other higher price as determined by the CDC Committee in its sole discretion. 
 (v) Subject to adjustment as provided in Section 19, the total number of Straight Awards available under the Plan shall be the sum of
(i) 63.669377, being 

  

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(x) 48.1777600 Shares (10.00% of total issued and outstanding Shares as of June 25, 1999) plus (y) 15.491777 Shares reserved for issuance on
May 6, 2002, minus (ii) the aggregate number of Shares available for grant under the employment agreement of the Chief Executive Officer. 
 During the first twelve months after June 25, 1999, the CDC Committee shall grant Straight Awards for no more than an aggregate number of Shares equal to (i) 24.088800 (being 5.00% of total issued and
outstanding Shares as of June 25, 1999), less (ii) the number of Shares available for grant as a straight award under the employment agreement of the Chief Executive Officer during such period. During the first twenty-four months after
June 25, 1999 the CDC Committee shall grant Straight Awards for no more than an aggregate number of Shares equal to (i) 48.177600 Shares (being 10.00% of total issued and outstanding Shares at as of June 25, 1999), less (ii) the
number of Shares available for grant as a straight award under the employment agreement of the Chief Executive Officer during such period. Thereafter, the remaining Straight Awards available for grant under the Plan, may be granted at such times as
the CDC Committee determines in its sole discretion. 
 (vi) Notwithstanding the foregoing provisions of this Section 6,
any Shares subject to any Straight Award which otherwise terminates without the issuance of such Shares or the payment of other consideration shall be available for the grant of Straight Awards. Straight Awards issued pursuant to the preceding
sentence shall be in addition to, and not in lieu of, the shares available for grant under Section 6(a)(v). 
 (b)
Incentive Awards. 
 (i) The Grant Date of an Incentive Award shall be the date on which the CDC Committee grants the
Award or such later date as specified in advance by the CDC Committee. 
 (ii) Any provision of the Plan to the contrary
notwithstanding, the Option Term shall under no circumstances extend more than 10 years after the Grant Date, and shall be subject to earlier termination as herein provided. 
 (iii) To the extent not set forth in the Plan, the terms and conditions of each Incentive Award shall be set forth in an Award Agreement.

 (iv) The Option Price of Incentive Awards shall be determined by the Committee in its sole discretion, provided that the
Option Price shall not be less than 100% of the Pricing Fair Market Value of a Share on the Grant Date. 
 (v) Subject to
adjustment as provided in Section 19, the total number of Incentive Awards available for grant under the Plan shall be (i) 38.542080 (being 8.00% of total issued and outstanding Shares as of June 25, 1999), less (ii) the
aggregate number of Shares available for grant as an incentive award under the employment agreement of the Chief Executive Officer. 
 During
each of calendar years 2000, 2001, 2002 and 2003, the CDC Committee may grant Incentive Awards for not more than (i) an aggregate 9.635520 Shares (being 2.00% of the total issued and outstanding Shares as of June 25, 1999) less
(ii) the number of Shares 

  

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available for grant as an incentive award under the employment agreement of the Chief Executive Officer during such period. Notwithstanding the immediately
preceding sentence, if the CDC Committee does not grant Incentive Awards for the full number of Shares available for grant for any calendar year, Awards with respect to such Shares may be granted in any subsequent year. 
 (vi) Notwithstanding the foregoing provisions of this Section 6, any Shares subject to any Incentive Award which otherwise terminates
without the issuance of such Shares or the payment of other consideration shall be available for the grant of Incentive Awards. Incentive Awards issued pursuant to the preceding sentence shall be in addition to, and not in lieu of, the Shares
available for grant under Section 6(b)(v). 
 (c) Grants of Awards Upon Exit Event. 
 (i) Upon the occurrence of an Exit Event, the CDC Committee shall, in its sole discretion, grant Awards for all remaining Shares available
for issuance but unissued as Incentive Awards to Management Shareholders (as defined in the Management Shareholders Agreement) and existing holders of Options, other than the chief Executive Officer, on a pro rata basis, subject to the provisions of
this Section 6(c). For purposes of the preceding sentence, the remaining Shares available for issuance shall be the aggregate number of Shares available for issuance as Incentive Awards under Section 6(b) reduced by the sum of (A) the
number of Shares previously issued pursuant to the exercise of Incentive Awards granted hereunder plus (B) the number of Shares subject to unexercised Incentive Awards that are outstanding immediately prior to the Exit Event and that have not
been forfeited or otherwise terminated prior to the Exit Event plus (C) the number of Shares subject to Awards that terminated prior to the Exit Event and in connection with which consideration was paid other than by the issuance of Shares
pursuant to Option exercise. 
 (ii) Any provision of the Plan to the contrary notwithstanding, the Option Term shall under no
circumstances extend more than 10 years after the Grant Date, and shall be subject to earlier termination as herein provided. 
 (iii) To the extent not set forth in the Plan, the terms and conditions of each Award granted pursuant to this Section 6(c) shall be set forth in an Award Agreement. 
 (iv) The Grant Date for the Awards granted pursuant to Section 6(c)(i) shall be the date on which the Exit Event occurs. 

(v) The Option Price of Awards granted under this Section 6(c) shall be the Pricing Fair Market Value (as determined in accordance
with Appendix I) as of the Grant Date. 
 (d) Prior to an Exit Event, the CDC Committee shall have the power, but not the
obligation, to condition an Award on the approval of the shareholders of the Company for the purpose of avoiding the possible application to Awards of Internal Revenue Code Section 280G. 
  

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 7. Exercise of Options. 
 (a) Each option shall become exercisable at such time or times as are set forth on Schedules A and B. 
 (b) A vested option shall be exercised by the delivery to the Company during the Option Term of (i) written notice of intent to
purchase a specific number of Shares subject to the option and (ii) payment in full of the Option Price of such specific number of Shares. 
 (c) Payment of the Option Price may be made by any one or more of the following means: 
 (i)
cash, personal check or wire transfer, or 
 (ii) in the discretion of the Committee, payment may be made by the surrender of
Shares (including Shares acquired upon exercise of the Award) valued at their fair market value as of the date of exercise (as determined, in good faith by the Committee). 
 (d) Exit Event. Effective upon the occurrence of an Exit Event, each award (including Awards granted pursuant to Section 6(c))
shall be fully vested and immediately exercisable to the extent such Award has not terminated in accordance with the terms of the Plan and/or the Award Agreement prior to the Exit Event. 
 (e) Repurchase of Options. With respect to any Grantee whose employment is terminated for any reason, including by death,
Disability or Retirement, the Company shall have the right, but not the obligation (the “Repurchase Right”), to repurchase options granted on or after July 22, 2002 that such Grantee (or his or her representative, as the case may be)
intends to exercise following such termination, in lieu of permitting Grantee’s exercise thereof, at a purchase price per Share (the “Repurchase Price”) equal to the sum of (x) the fair market value of such Share as of
the date of exercise (as determined in good faith by the Committee) minus (y) the Option Price. In order to exercise the Repurchase Right, the Company shall: (i) notify the Grantee, within ten (10) business days following
receipt by the Company of the Grantee’s notice required by subsection (b)(i) above, of the Company’s intention to repurchase the options and (ii) no later than sixty (60) calendar days following receipt of Grantee’s
notice, return any payment Grantee made to the Company pursuant to subsection (b)(ii) above, without interest, and pay to the Grantee the aggregate Repurchase Price for the Shares Grantee sought to exercise. The Company is authorized to
repurchase such options not to exceed total expenditures of $125,000 per calendar year, with any purchases exceeding such total subject to the approval of the CDC Committee and the Board. 
  

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 8. Mandatory Tax Withholding. Whenever under the Plan, Shares are to be delivered upon exercise of
an Award or upon any other taxable event with respect to rights and benefits hereunder, the Committee shall be entitled to require (i) that the Grantee remit an amount in cash, or in the Company’s discretion, Shares, sufficient to satisfy
all federal, state, and local tax withholding requirements related thereto (“Required Withholding”), (ii) the withholding of such Required Withholding from compensation otherwise due to the Grantee or from any Shares due to the
Grantee under the Plan or (iii) any combination of the foregoing. 
 9. Elective Share Withholding. 
 (a) Subject to the following subsection, a Grantee may elect the withholding (“Share Withholding”) by the Company of a portion
of the Shares otherwise deliverable to such Grantee upon the exercise of an Award (a “Taxable Event”) having a fair market value (as determined in good faith by the Committee) equal to (i) the minimum amount necessary to satisfy
Required Withholding liability attributable to the Taxable Event; or (ii) with the Committee’s prior approval, a greater amount, not to exceed the estimated total amount of such Grantee’s tax liability with respect to the Taxable
Event. 
 (b) Each Share Withholding election shall be subject to the following conditions: 
 (i) any Grantee’s election shall be subject to the Committee’s consent; 
 (ii) the Grantee’s election must be made before the date (the “Tax Date”) on which the amount of tax to be withheld is
determined; and 
 (iii) the Grantee’s election shall be irrevocable. 
 10. Termination of Employment. 
 (a) For Cause. If a Grantee’s employment is terminated for Cause, all options held by such Grantee, whether vested or unvested, shall terminate effective immediately upon such termination of employment.

 (b) On Account of Retirement, Death, Disability, or Involuntary Termination of Employment by the Company Without
Cause. If a Grantee’s employment terminates on account of Retirement, death, Disability or involuntary termination of employment by the Company without Cause, any unexercised Awards, whether or not exercisable on the date of such
termination of employment, may be exercised, in whole or in part, at any time during the remaining Option Term; provided that, with respect to a Grantee whose employment is terminated involuntarily by the Company without Cause, any Awards
granted on or after July 22, 2002 shall be treated in accordance with Section 10(c) below, as if such Grantee’s employment were terminated voluntarily. For purposes of this Section, if a Grantee’s employment status is
changed from full time employment to variable part time employment, then at the sole discretion of the CDC Committee, such change in status shall be considered an involuntary termination of employment without Cause. 
  

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 (c) Voluntary Termination of Employment. If a Grantee’s employment terminates
on account of a voluntary resignation (or, with respect to Awards granted on or after July 22, 2002, on account of involuntary termination by the Company without Cause), any unexercised Awards (to the extent exercisable immediately before the
Grantee’s termination of employment) may be exercised, in whole or in part, within the first 90 days following such termination of employment (but only during the Option Term). Any unvested options shall terminate effective immediately upon
termination of employment. 
 (d) Extended Exercisability. If the Grantee has entered into an agreement with the
Company not to sell any Shares, any ICFC Interests acquired in exchange for Shares pursuant to Section 14, or the capital stock of a successor to the Company or ICFC for a specified period after the consummation of a business combination
between the Company (or ICFC) and another corporation or entity (the “Specified Period”), such option may be exercised in whole or in part until the later of the end of the post-termination period specified in subparagraph (b) or
(c) of this Section, as applicable, or 10 business days after the end of the Specified Period. 
 11. Substituted Awards. If the
CDC Committee cancels any Award (whether granted under this Plan or any plan of any entity acquired by the Company or a Subsidiary), the CDC Committee may, with the approval of the Committee, substitute a new Award therefor upon such terms and
conditions consistent with the Plan; provided, that (a) the Option Price of any new option shall not be less than 100% of the Pricing Fair Market Value of a Share on the date of grant of the old Award; and (b) the Grant Date of the
new Award shall be the date on which such new Award is granted. 
 12. Securities Law Matters. If the Committee deems it necessary to
comply with any applicable securities law, the Committee may require a written investment intent representation by the Grantee and may require that a restrictive legend be affixed to certificates for Shares. If, based upon the advice of counsel for
the Company, the Committee determines that the exercise of any Award would violate any applicable provision of (i) federal or state securities laws or (ii) the listing requirements of any national securities exchange or national market
system on which are listed any of the Company’s equity securities, then the Committee may postpone any such exercise, but the Company shall use all reasonable efforts to cause such exercise to comply with all such provisions at the earliest
practicable date. 
 13. Contribution of Shares to ICFC in Exchange for ICFC Interests. As a condition to exercise of any option
granted hereunder, the Grantee must agree to: (i) contribute any Shares received upon exercise of an option to ICFC in exchange for ICFC Interests at an exchange ratio equal to the quotient of (x) the total number of ICFC Interests
outstanding on the date of exercise divided by (y) the number of shares of the Company’s common stock owned by ICFC on such date and (ii) become a party to the Management Shareholders Agreement. The contribution of Shares
pursuant to the preceding sentence shall occur immediately upon the issuance of the Shares to the Grantee. The Grantee’s ICFC Interests shall be subject to the terms and conditions set forth in the ICFC Operating Agreement including, but not
limited to, the put/call rights attributable to the Grantee’s ICFC Interests. 
 14. No Employment Rights. Neither the
establishment of the Plan, nor the grant of any Award shall (a) give any Grantee the right to remain employed by the Company or any 

  

 9 

 
Subsidiary or to any benefits not specifically provided by the Plan or (b) modify the right of the Company or any Subsidiary to modify, amend, or
terminate any employee benefit plan. 
 15. No Rights as a Stockholder or as an Interest Holder. A Grantee shall not have any rights
(a) as a stockholder of the Company with respect to the Shares which may be deliverable upon exercise of an Award until such Shares have been delivered to him or her or (b) as a holder of ICFC Interests with respect to Interests which may
be deliverable upon contribution of Shares under Section 13 hereof. 
 16. Nature of Payments. Awards shall be special incentive
payments to the Grantee and shall not be taken into account in computing the amount of salary or compensation of the Grantee for purposes of determining any pension, retirement, death or other benefit under (a) any pension, retirement,
profit-sharing, bonus, insurance or other employee benefit plan of the Company or any Subsidiary or (b) any agreement between (i) the Company or any Subsidiary and (ii) the Grantee, except as such plan or agreement shall otherwise
expressly provide. 
 17. Non-uniform Determinations. The Committee’s determinations under the Plan need not be uniform and may
be made by the Committee selectively among persons who receive, or are eligible to receive, Awards, whether or not such persons are similarly situated. Without limiting the generality of the foregoing, the Committee shall be entitled, to enter into
non-uniform and selective Award Agreements as to (a) the identify of the Grantees, (b) the terms and provisions of Awards, and (c) the treatment of terminations of employment. 
 18. Adjustments. 
 The
Committee shall make equitable adjustment of: 
 (i) The aggregate numbers and kind of Shares available under the Plan for
Awards, 
 (ii) The number and kind of Shares covered by an Award, and 
 (iii) The Option Price of all outstanding options, 
 to reflect a stock dividend, stock split, reverse stock split, share combination, recapitalization, merger, consolidation, spin-off, split-off, reorganization, rights offering, liquidation or similar event, of or by the Company. 

19. Amendment of the Plan. The Committee may from time to time, with the consent of the Board, amend the Plan, provided that, any
amendment which would adversely affect the rights of Grantees, potential Grantees or the CDC Committee hereunder may only be made with the CDC Committee’s written consent. 
 20. Termination of the Plan. The Plan shall terminate on the tenth (10th) anniversary of the Effective Date or at such earlier time as the Committee, with the consent of the Board, may determine. No termination shall affect
any Award then outstanding under the Plan. 
 21. No Illegal Transactions. The Plan and all Awards granted pursuant to it are subject
to all applicable laws and regulations. Notwithstanding any provision of the Plan or any 

  

 10 

 
Award, Grantees shall not be entitled to exercise any Award, and the Company shall not be obligated to deliver any Shares or deliver benefits to a Grantee,
if such exercise or delivery would constitute a violation by the Grantee or the Company of any applicable law or regulation. 
 22.
Controlling Law. The law of the State of Delaware, except its law with respect to choice of law, shall control all matters relating to the Plan. 
 23. Severability. If any part of the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not invalidate any other part of the Plan. Any
Section or part of a Section so declared to be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid.

  

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 APPENDIX I 
 PRICING FAIR MARKET VALUE 
 The Pricing Fair Market Value of a Share, as of a specified date (the
“determination date”) shall equal (a) divided by (b) where: 
 (a) is: 
 (i) the product of the prior year’s EBITDA multiplied by 6.0, plus 
 (ii) cash on hand as of the last day of the prior year, minus 
 (iii) debt as of the last day of the prior year; and 
 (b) is the number of Shares outstanding as of the last day of the prior year calculated on a fully diluted basis (including, without
limitation, vested options and unexercised warrants). 
 ; provided that, in no event shall the Pricing Fair
Market Value of a Share for Incentive Awards granted in 2000 be less than $77,260.33 and for Incentive Awards granted thereafter be less than $92,712.39.Exhibit 10.2

 Exhibit 10.2 
 ICF INTERNATIONAL, INC. 
 2006 LONG-TERM EQUITY INCENTIVE PLAN 
 ARTICLE ONE 
 ESTABLISHMENT,
OBJECTIVES AND DURATION 
 1.1 ESTABLISHMENT OF THE PLAN. ICF International, Inc., a Delaware corporation (the
“Company”), hereby adopts, effective upon the effectiveness of the registration statement for the Company’s initial public offering (the “Effective Date”), the ICF International, Inc. 2006 Long-Term Equity
Incentive Plan as set forth in this document. The Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Performance Shares and Performance Units, and Other Incentive Awards.

 1.2 OBJECTIVES OF THE PLAN. The objectives of the Plan are to optimize the profitability and growth of the Company through incentives
which are consistent with the Company’s goals and which link and align the personal interests of Participants with an incentive for excellence in individual performance; and to promote teamwork. 
 The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract and retain the services of Participants who make
significant contributions to the Company’s success and to allow Participants to share in the success of the Company. 
 1.3 DURATION OF
THE PLAN. The Plan shall commence on the Effective Date, as described in Section 1.1 hereof, and shall remain in effect, subject to the right of the Board of Directors to amend or terminate the Plan at any time pursuant to Article 15 hereof,
until all Shares subject to it shall have been purchased or acquired according to the Plan’s provisions. However, in no event may an Award be granted under the Plan on or after May 31, 2016. 
 ARTICLE TWO 
 DEFINITIONS

 Whenever used in the Plan, the following terms shall have the meanings set forth below, and when the meaning is intended, the initial
letter of the word shall be capitalized: 
 “Award” means, individually or collectively, a grant under this Plan of
Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Performance Shares or Performance Units, or Other Incentive Awards. 
 “Award Agreement” means an agreement entered into by the Company and each Participant setting forth the terms and provisions applicable to Awards granted under this Plan. 
  

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 “Beneficial Owner” or “Beneficial Ownership” shall have the meaning
ascribed to such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act. 
 “Board” or
“Board of Directors” means the Board of Directors of the Company. 
 “Change in Control” of the Company
means any one or more of the following: 
 (a) The Company is merged, consolidated or reorganized into or with another corporation,
partnership, limited liability company, trust, or other legal person (collectively referred herein as a “Business Entity”), and immediately after such merger, consolidation, or reorganization less than fifty percent (50%) of
the combined voting power of the then-outstanding securities of such Business Entity immediately after such transaction are held in the aggregate by the holders of voting stock of the Company immediately prior to such transaction; 
 (b) The Company sells all or substantially all of its assets to any other Business Entity, and less than fifty percent (50%) of the combined voting
power of the then-outstanding securities of such Business Entity immediately after such sale are held in the aggregate by the holders of voting stock of the Company immediately prior to such sale; or 
 (c) Any person (as the term “person” is used in Section 13(d)(3) or Section 14(d)(2) of the Exchange Act) or group of persons acting
in concert has become the beneficial owner (as the term “beneficial owner” is defined under Rule 13d-3 or any successor rule or regulation promulgated under the Exchange Act) of securities representing fifty percent (50%) or more of
the voting stock of the Company. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time.

 “Committee” means the Compensation Committee of the Board, as specified in Article 3 herein, or such other Committee
appointed by the Board to administer the Plan with respect to grants of Awards. 
 “Common Stock” means the common stock of
the Company. 
 “Company” means ICF International, Inc., a Delaware corporation, as well as any successor to the Company as
provided in Article 18 herein. 
 “Director” means any individual who is a member of the Board of Directors of the Company.

 “Disability” means the inability of a Participant to engage in any substantially gainful activity by reason of any
medically determinable physical or mental impairment that is expected to result in death or has lasted or can be expected to last for a continuous period of twelve (12) months or more. A determination that a Participant is disabled shall be
made by the Committee on the basis of such medical evidence as the Committee deems warranted under the circumstances. 
  

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 “Effective Date” shall have the meaning ascribed to such term in Section 1.1
hereof. 
 “Employee” means any employee of the Company or any Subsidiary. Nonemployee Directors shall not be considered
Employees under this Plan unless specifically designated otherwise. 
 “Exchange Act” means the Securities Exchange Act of
1934, as amended from time to time, or any successor act thereto. 
 “Fair Market Value” shall be the fair market value of a
share of Common Stock, as determined in good faith by the Committee. 
 “Freestanding SAR” means an SAR that is granted
independently of any Options, as described in Article 7 herein. 
 “Incentive Stock Option” or “ISO” means
an option to purchase Shares granted under Article 6 herein and which is designated as an Incentive Stock Option and which is intended to meet the requirements of Code Section 422. 
 “Nonemployee Director” means an individual who is a member of the Board of Directors of the Company but who is not an Employee of the
Company or a Subsidiary. 
 “Nonqualified Stock Option” or “NQSO” means an option to purchase Shares
granted under Article 6 herein and which is not intended to meet the requirements of Code Section 422. 
 “Option”
means an Incentive Stock Option or a Nonqualified Stock Option, as described in Article 6 herein. 
 “Option Price” means
the price at which a Share may be purchased by a Participant pursuant to an Option. 
 “Other Incentive Award” means an
award granted pursuant to Article 10 hereof. 
 “Participant” means an Employee or Nonemployee Director who has outstanding
an Award granted under the Plan. 
 “Performance Period” means the time period during which performance goals must be
achieved with respect to an Award, as determined by the Committee. 
 “Performance Share” means an Award granted to a
Participant, as described in Article 9 herein. 
 “Performance Unit” means an Award granted to a Participant, as described
in Article 9 herein. 
 “Period of Restriction” means the period during which the transfer of Shares of Restricted Stock is
limited in some way (based on the passage of time, the achievement of performance goals, and/or upon the occurrence of other events as determined by the Committee 

  

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at its discretion), and the Shares are subject to a substantial risk of forfeiture, as provided in Article 8 herein. 
 “Person” shall have the meaning ascribed to such term in Section 3(a) (9) of the Exchange Act and used in Sections 13(d) and
14(d) thereof, including a “group” as defined in Section 13(d) thereof. 
 “Restricted Stock” means an Award
granted to a Participant pursuant to Article 8 herein. 
 “Shares” means the shares of common stock of the Company.

 “Share Pool” means the number of shares authorized for issuance under Section 4.1, as adjusted for awards and
payouts under Section 4.2 and as adjusted for changes in corporate capitalization under Section 4.3. 
 “Stock Appreciation
Right” or “SAR” means an Award, granted alone or in connection with a related Option, designated as an SAR, pursuant to the terms of Article 7 herein. 
 “Subsidiary” means any corporation, partnership, joint venture, affiliate or other entity in which the Company has a majority voting
interest, and which the Committee designates as a participating entity in the Plan. 
 “Tandem SAR” means an SAR that is
granted in connection with a related Option pursuant to Article 7 herein, the exercise of which shall require forfeiture of the right to purchase a Share under the related Option (and when a Share is purchased under the Option, the Tandem SAR shall
similarly be canceled). 
 ARTICLE THREE 
 ADMINISTRATION 
 3.1 THE COMMITTEE. The Plan shall be administered by the Compensation Committee of
the Board or by any other Committee appointed by the Board. The members of the Committee shall be appointed from time to time by, and shall serve at the discretion of, the Board of Directors. 
 3.2 AUTHORITY OF THE COMMITTEE. Except as limited by law or by the Articles of Incorporation or Bylaws. of the Company, and subject to the provisions
herein, the Committee shall have full power to select Employees and Nonemployee Directors who shall participate in the Plan; determine the sizes and types of Awards; determine the terms and conditions of Awards in a manner consistent with the Plan;
construe and interpret the Plan and any agreement or instrument entered into under the plan; establish, amend or waive rules and regulations for the Plan’s administration; and (subject to the provisions of Article 15 herein) amend the terms and
conditions of any outstanding Award to the extent such terms and conditions are within the discretion of the Committee as provided in the Plan. Further, the Committee shall make all other determinations which may be necessary or advisable for the
administration of the Plan. As permitted by law, the Committee may delegate its authority as identified herein. 
  

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 3.3 DECISIONS BINDING. All determinations and decisions made by the Committee pursuant to the provisions
of the Plan and all related orders and resolutions of the Board shall be final, conclusive and binding on all persons, including the Company, its stockholders, Employees, Participants and their estates and beneficiaries. 
 ARTICLE FOUR 
 SHARES SUBJECT TO THE
PLAN AND MAXIMUM AWARDS 
 4.1 NUMBER OF SHARES AVAILABLE FOR GRANTS. Subject to adjustment as provided in Section 4.3 herein, the
number of Shares hereby reserved for issuance under the Plan shall be 2,500,000. The Committee shall determine the appropriate methodology for calculating the number of Shares issued pursuant to the Plan. 
 4.2 LAPSED AWARDS. If any Award granted under this Plan is canceled, terminates, expires, or lapses for any reason (with the exception of the termination
of a Tandem SAR upon exercise of the related Option, or the termination of a related Option upon exercise of the corresponding Tandem SAR), any Shares subject to such Award shall again be available for the grant of an Award under the Plan.

 4.3 ADJUSTMENTS IN AUTHORIZED SHARES. In the event of any change following Board adoption of the Plan (including any such change prior to
the Effective Date) in corporate capitalization, such as a stock split, or a corporate transaction, such as any merger, consolidation, separation, including a spin-off, or other distribution of stock or property of the Company, any reorganization
(whether or not such reorganization comes within the definition of such term in Code Section 368), or any partial or complete liquidation of the Company, such adjustment shall be made in the number and class of Shares available in the Share
Pool and in the number and class of and/or price of Shares subject to outstanding Awards granted under the Plan, as may be determined to be appropriate and equitable by the Committee, in its sole discretion, to prevent dilution or enlargement of
rights; provided, however, that the number of Shares subject to any Award shall always be a whole number. 
 ARTICLE FIVE

 ELIGIBILITY AND PARTICIPATION 
 5.1 ELIGIBILITY. Persons eligible to participate in this Plan include (a) all officers and key employees of the Company, as determined by the Committee, including Employees who are members of the Board and
(b) all Nonemployee Directors. 
 5.2 ACTUAL PARTICIPATION. Subject to the provisions of the Plan, the Committee may, from time to time,
select from all eligible Employees and Nonemployee Directors those to whom Awards shall be granted and shall determine the nature and amount of each Award. 
  

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 ARTICLE SIX 
 STOCK OPTIONS 
 6.1 GRANT OF OPTIONS. Subject to the terms and provisions of the Plan, Options may be
granted, either by the Committee or the Board, to one or more Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee. The Committee or the Board shall have the authority to
grant Incentive Stock Options or to grant Nonqualified Stock Options or to grant both types of Options. 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, as from time to time amended, and any regulations implementing such statute, including, without limitation, the requirements of Code Section 422(d) which limit the aggregate Fair Market Value of
Shares (determined at the time that such Option is granted) for which Incentive Stock Options are exercisable for the first time to $100,000 per calendar year, and the requirement that Incentive Stock Options may only be granted to Employees. Each
provision of the Plan and of each written Award Agreement relating to an Option designated as an Incentive Stock Option shall be construed so that such Option qualifies as an Incentive Stock Option, and any provision that cannot be so construed
shall be disregarded. 
 6.2 AWARD AGREEMENT. Each Option grant shall be evidenced by an Award Agreement that shall specify the Option Price,
the duration of the Option, the number of Shares to which the Option pertains, and such other provisions as the Committee shall determine. The Award Agreement also shall specify whether the Option is intended to be an ISO or an NQSO. 
 6.3 OPTION PRICE. The Option Price for each grant of an Option under this Plan shall be at least equal to one hundred percent (100%) of the Fair
Market Value of a Share on the date the Option is granted. Notwithstanding any provision contained herein, in the case of an Incentive Stock Option, the exercise price at the time such Incentive Stock Option is granted to any Employee who, at the
time of such grant, owns (within the meaning of Section 424(d) of the Code) more than ten percent of the voting power of all classes of stock of the Company or a Subsidiary, shall not be less than 110% of the per Share Fair Market Value on the
date of grant. 
 6.4 DURATION OF OPTIONS. Each Option shall expire at such time as the Committee shall determine at the time of grant;
provided, however, that in the case of an Incentive Stock Option, an Employee may not exercise such Incentive Stock Option after the date which is ten years (five years in the case of a Participant who owns more than ten percent of the voting power
of the Company or a Subsidiary) after the date on which such Incentive Stock Option is granted. 
 6.5 EXERCISE OF OPTIONS. Options granted
under this Article 6 shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which need not be the same for each grant or for each Participant. 
 6.6 PAYMENT. Options granted under this Article 6 shall be exercised by the delivery of a written notice of exercise to the Company, setting forth the
number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares. 
  

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 The Option Price upon exercise of any Option shall be payable to the Company in full either: (a) in
cash or its equivalent, or (b) by tendering previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the total Option Price (provided that the Shares that are tendered must have been held by the
Participant for at least six (6) months prior to their tender to satisfy the Option Price), or (c) by a combination of (a) and (b). 
 As soon as practicable after receipt of a written notification of exercise and full payment, the Company shall deliver to the Participant, in the Participant’s name, Share certificates in an appropriate amount based upon the number of
Shares purchased under the Option(s). 
 6.7 RESTRICTIONS ON SHARE TRANSFERABILITY. The Committee may impose such restrictions on any Shares
acquired pursuant to the exercise of an Option granted under this Article 6 as it may deem advisable, including, without limitation, restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon
which such Shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such Shares. 
 6.8
TERMINATION OF EMPLOYMENT. Each Option Award Agreement shall set forth the extent to which the Participant shall have the right to exercise the Option following termination of the Participant’s employment with (or service to) the Company and/or
its Subsidiaries. Such provisions shall be determined in the sole discretion of the Committee, shall be included in the Award Agreement entered into with each Participant, need not be uniform among all Options issued pursuant to the Plan, and may
reflect distinctions based on the reasons for termination of employment or service. 
 6.9 NONTRANSFERABILITY OF OPTIONS. 
 (a) INCENTIVE STOCK OPTIONS. No ISO granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other
than by will or by the laws of descent and distribution. Further, all ISOs granted to a Participant under the Plan shall be exercisable during his or her lifetime only by such Participant. 
 (b) NON-QUALIFIED STOCK OPTIONS. Except as otherwise provided in a Participant’s Award Agreement, no NQSO granted under this Article 6 may be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, except as otherwise provided in a Participant’s Award Agreement, all NQSOs granted to a Participant
under this Article 6 shall be exercisable during his or her lifetime only by such Participant. 
 ARTICLE SEVEN 
 STOCK APPRECIATION RIGHTS 
 7.1 GRANT
OF SARs. Subject to the terms and conditions of the Plan, SARs may be granted to Participants at any time and from time to time as shall be determined by the Committee. The Committee may grant Freestanding SARs, Tandem SARs, or any combination of
these forms of SAR. 
  

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 The Committee shall have complete discretion in determining the number of SARs granted to each
Participant (subject to Article 4 herein) and, consistent with the provisions of the Plan, in determining the terms and conditions pertaining to such SARs. 
 Unless otherwise designated by the Committee at the time of grant, the grant price of a Freestanding SAR shall equal the Fair Market Value of a Share on the date of grant of the SAR. The grant price of Tandem SARs
shall equal the Option Price of the related Option. 
 7.2 EXERCISE OF TANDEM SARs. Tandem SARs may be exercised for all or part of the
Shares subject to the related Option upon the surrender of the right to exercise the equivalent portion of the related Option. A Tandem SAR may be exercised only with respect to the Shares for which its related Option is then exercisable.

 Notwithstanding any other provision of this Plan to the contrary, with respect to a Tandem SAR granted in connection with an ISO:
(i) the Tandem SAR will expire no later than the expiration of the underlying ISO; (ii) the value of the payout with respect to the Tandem SAR may be for no more than one hundred percent (100%) of the difference between the Option
Price of the underlying ISO and the Fair Market Value of the Shares subject to the underlying ISO at the time the Tandem SAR is exercised; and (iii) the Tandem SAR may be exercised only when the Fair Market Value of the Shares subject to the
ISO exceeds the Option Price of the ISO. 
 7.3 EXERCISE OF FREESTANDING SARs. Freestanding SARs may be exercised upon whatever terms and
conditions the Committee, in its sole discretion, imposes upon them. 
 7.4 SAR AGREEMENT. Each SAR grant shall be evidenced by an Award
Agreement that shall specify the grant price, the term of the SAR, and such other provisions as the Committee shall determine. 
 7.5 TERM OF
SARs. The term of an SAR granted under the Plan shall be determined by the Committee, in its sole discretion; provided, however, that unless otherwise designated by the Committee, such term shall not exceed ten (10) years. 
 7.6 PAYMENT OF SAR AMOUNT. Upon exercise of an SAR, a Participant shall be entitled to receive payment from the Company in an amount determined by
multiplying: 
 (a) The difference between the Fair Market Value of a Share on the date of exercise over the grant price; by 
 (b) The number of Shares with respect to which the SAR is exercised. 
 At the discretion of the Committee, the payment upon SAR exercise may be in cash, in Shares of equivalent value, in Restricted Shares of equivalent value, or in some combination thereof. 
 7.7 TERMINATION OF EMPLOYMENT. Each SAR Award Agreement shall set forth the extent to which the Participant shall have the right to exercise the SAR
following termination of the Participant’s employment with (or service to) the Company and/or its 

  

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Subsidiaries. Such provisions shall be determined in the sole discretion of the Committee, shall be included in the Award Agreement entered into with
Participants, need not be uniform among all SARs issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of employment or service. 
 7.8 NON-TRANSFERABILITY OF SARs. Except as otherwise provided in a Participant’s Award Agreement, no SAR granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated,
other than by will or by the laws of descent and distribution. Further, except as otherwise provided in a Participant’s Award Agreement, all SARs granted to a Participant under the Plan shall be exercisable during his or her lifetime only by
such Participant. 
 ARTICLE EIGHT 
 RESTRICTED STOCK 
 8.1 GRANT OF RESTRICTED STOCK. Subject to the terms and provisions of the Plan, the Committee, at any
time and from time to time, may grant Shares of Restricted Stock to Participants in such amounts as the Committee shall determine. 
 8.2
RESTRICTED STOCK AGREEMENT. Each Restricted Stock grant shall be evidenced by an Award Agreement that shall specify the Period(s) of Restriction, the number of Shares of Restricted Stock granted, and such other provisions as the Committee shall
determine. 
 8.3 TRANSFERABILITY. Except as provided in this Article 8, the Shares of Restricted Stock granted herein may not be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction established by the Committee and specified in the Restricted Stock Award Agreement, or upon earlier satisfaction of any
other conditions, as specified by the Committee in its sole discretion and set forth in the Restricted Stock Agreement. All rights with respect to the Restricted Stock granted to a Participant under the Plan shall be available during his or her
lifetime only to such Participant. 
 8.4 OTHER RESTRICTIONS. Subject to Article 11 herein, the Committee may impose such other conditions
and/or restrictions on any Shares of Restricted Stock granted pursuant to the Plan as it may deem advisable including, without limitation, a requirement that Participants pay a stipulated purchase price for each Share of Restricted Stock, a
requirement that Participants own a certain amount of Shares before vesting shall occur, restrictions based upon the achievement of specific performance goals (Company-wide, divisional, and/or individual), time-based restrictions on vesting
following the attainment of the performance goals, requirement and/or restrictions under applicable federal or state securities laws. 
 The
Company shall retain the certificates representing Shares of Restricted Stock in the Company’s possession until such time as all conditions and/or restrictions applicable to such Shares have been satisfied. 
 Except as otherwise provided in this Article 8, Shares of Restricted Stock covered by each Restricted Stock grant made under the Plan shall become freely
transferable by the Participant after the last day of the applicable Period of Restriction. 
  

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 8.5 VOTING RIGHTS. Unless otherwise designated by the Committee at the time of grant, Participants
holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares during the Period of Restriction. 
 8.6 DIVIDENDS AND OTHER DISTRIBUTIONS. Unless otherwise designated by the Committee at the time of grant, Participants holding Shares of Restricted Stock granted hereunder may be credited with regular cash dividends paid with respect to the
underlying Shares while they are so held during the Period of Restriction. The Committee may apply any restrictions to the dividends that the Committee deems appropriate. 
 8.7 TERMINATION OF EMPLOYMENT. Each Restricted Stock Award Agreement shall set forth the extent to which the Participant shall have the right to receive unvested Restricted Shares following termination of the
Participant’s employment with (or service to) the Company and/or its Subsidiaries. Such provisions shall be determined in the sole discretion of the Committee, shall be included in the Award Agreement entered into with each Participant, need
not be uniform among all Shares of Restricted Stock issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of employment or service. 
 ARTICLE NINE 
 PERFORMANCE UNITS AND PERFORMANCE SHARES 
 9.1 GRANT OF PERFORMANCE UNITS AND PERFORMANCE SHARES. Subject to the terms of the Plan, Performance Units and/or Performance Shares may be granted to
Participants in such amounts and upon such terms, and at any time and from time to time, as shall be determined by the Committee. 
 9.2
VALUE OF PERFORMANCE UNITS/SHARES. Each Performance Unit shall have an initial value that is established by the Committee at the time of grant. Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the date
of grant. The Committee shall set performance goals in its discretion which, depending on the extent to which they are met, will determine the number and/or value of Performance Units/Shares that will be paid out to the Participant. For purposes of
this Article 9, the time period during which the performance goals must be met shall be called a “Performance Period.” 
 9.3 EARNING OF PERFORMANCE UNITS/SHARES. Subject to the terms of this Plan, after the applicable Performance Period has ended, the holder of Performance Units/Shares shall be entitled to receive payout on the number and value of Performance
Units/Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance goals have been achieved, as established by the Committee. 
 9.4 FORM AND TIMING OF PAYMENT OF PERFORMANCE UNITS/SHARES. Subject to the terms of this Plan, the Committee, in its sole discretion, may pay earned
Performance Units/Shares in the form of cash or in Shares (or in a combination thereof) which have an aggregate Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period. Such
Shares may be granted subject to any restrictions deemed appropriate by the Committee. 
  

 - 10 - 

 At the discretion of the Committee, Participants may be entitled to receive any dividends declared with
respect to Shares which have been earned in connection with grants of Performance Units and/or Performance Shares which have been earned, but not yet distributed to Participants (such dividends shall be subject to the same accrual, forfeiture, and
payout restrictions as apply to dividends earned with respect to Shares of Restricted Stock, as set forth in Section 8.6 herein). In addition, Participants may, at the discretion of the Committee, be entitled to exercise their voting rights
with respect to such Shares. 
 9.5 TERMINATION OF EMPLOYMENT DUE TO DEATH, DISABILITY OR RETIREMENT. Unless otherwise designated by the
Committee, and set forth in the Participant’s Award Agreement, in the event the employment (or service) of a Participant is terminated due to death, Disability or retirement during a Performance Period, the Participant shall receive a prorated
payout of the Performance Units/Shares. The prorated payout shall be determined by the Committee, shall be based upon the length of time that the Participant held the Performance Units/Shares during the Performance Period and shall further be
adjusted based on the achievement of the preestablished performance goals. Payment of earned Performance Units/Shares shall be made at a time specified by the Committee in its sole discretion and set forth in the Participant’s Award Agreement.

 9.6 TERMINATION OF EMPLOYMENT FOR OTHER REASONS. In the event that a Participant’s employment (or service) terminates for any reason
other than those reasons set forth in Section 9.5 herein, all Performance Units/Shares shall be forfeited by the Participant to the Company unless determined otherwise by the Committee, as set forth in the Participant’s Award Agreement.

 9.7 NONTRANSFERABILITY. Except as otherwise provided in a Participant’s Award Agreement, Performance Units/Shares may not be sold,
transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, except as otherwise provided in a Participant’s Award Agreement, a Participant’s rights under
the Plan shall be exercisable during the Participant’s lifetime only by the Participant or the Participant’s legal representative. 
 ARTICLE TEN 
 OTHER INCENTIVE AWARDS 
 10.1 GRANT OF OTHER INCENTIVE AWARDS. Subject to the terms and provisions of the Plan, Other Incentive Awards may be granted to Participants in such amount, upon such terms, and at any time and from time to time as
shall be determined by the Committee. 
 10.2 OTHER INCENTIVE AWARD AGREEMENT. Each Other Incentive Award grant shall be evidenced by an
Award Agreement that shall specify the amount of the Other Incentive Award granted, the terms and conditions applicable to such grant, the applicable Performance Period and performance goals, and such other provisions as the Committee shall
determine, subject to the terms and provisions of the Plan. 
 10.3 NONTRANSFERABILITY. Except as otherwise provided in a Participant’s
Award Agreement, Other Incentive Awards may not be sold, transferred, pledged, assigned or 

  

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otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. 
 10.4 FORM AND TIMING OF PAYMENT OF OTHER INCENTIVE AWARDS. Payment of Other Incentive Awards shall be made at such times and in such form, in cash, in
Shares, or in Restricted Shares (or a combination thereof), as established by the Committee subject to the terms of the Plan. Such Shares may be granted subject to any restrictions deemed appropriate by the Committee. Without limiting the generality
of the foregoing, annual incentive awards may be paid in the form of Shares and/or Other Incentive Awards (which may or may not be subject to restrictions, at the discretion of the Committee). 
 ARTICLE ELEVEN 
 BENEFICIARY DESIGNATION 
 Each Participant under the Plan may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any
benefit under the Plan is to be paid in case of his or her death before he or she receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed the Company, and
will be effective only when filed by the Participant in writing with the Company during the Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the
Participant’s estate. 
 ARTICLE TWELVE 
 DEFERRALS 
 The Committee may permit a Participant to defer such Participant’s receipt of the
payment of cash or the delivery of Shares that would otherwise be due to such Participant by virtue of the exercise of an Option or SAR, the lapse or waiver of restrictions with respect to Restricted Stock, or the satisfaction of any requirements or
goals with respect to Performance Units/Shares or Other Incentive Awards. If any such deferral election is required or permitted, the Committee shall, in its sole discretion, establish rules and procedures for such payment deferrals. Any such
deferral shall be made in a manner consistent with the requirements of Section 409A of the Code. 
 ARTICLE THIRTEEN 

RIGHTS OF EMPLOYEES AND NONEMPLOYEE DIRECTORS 
 13.1 EMPLOYMENT. Nothing in the Plan shall interfere with or limit in any way the right of the Company to terminate any Participant’s employment at any time, nor confer upon any Participant any right to continue
in the employ of the Company. 
 13.2 PARTICIPATION. No Employee or Nonemployee Director shall have the right to be selected to receive an
Award under this Plan or, having been so selected, to be selected to receive a future Award. 
  

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 ARTICLE FOURTEEN 
 CHANGE IN CONTROL 
 14.1 TREATMENT OF OUTSTANDING AWARDS. Upon the occurrence of a Change in Control,
unless otherwise specifically prohibited under applicable laws, or by the rules and regulations of any governing governmental agencies or national securities exchanges: 
 (a) Any and all Options and SARs granted hereunder shall become immediately exercisable, and shall remain exercisable throughout their entire term, and any cash or property received upon exercise of any Option or SAR
shall be free from further restriction; 
 (b) Any restriction periods and restrictions imposed on Restricted Shares shall lapse; and

 (c) Unless otherwise specified in a Participant’s Award Agreement at time of grant, the target payout opportunities attainable under
all outstanding Awards of Performance Units and Performance Shares and Other Incentive Awards shall be deemed to have been fully earned for the entire Performance period(s) as of the effective date of the Change in Control. The vesting of all such
Awards shall be accelerated as of the effective date of the Change in Control and, in full settlement of such Awards, there shall be paid out to Participants (in Shares for Awards normally paid in Shares and in cash for Awards normally paid in cash)
within thirty (30) days following the effective date of the Change in Control a pro rata portion of all targeted Award opportunities associated with such outstanding Awards, based on the number of complete and partial calendar months within the
Performance Period which had elapsed as of such effective date. 
 14.2 TERMINATION, AMENDMENT AND MODIFICATIONS OF CHANGE IN CONTROL
PROVISIONS. Notwithstanding any other provision of this Plan or any Award Agreement provision, the provisions of this Article 14 may not be terminated, amended or modified to affect adversely any Award theretofore granted under the Plan without the
prior written consent of the Participant with respect to said Participant’s outstanding Awards. 
 ARTICLE FIFTEEN 
 AMENDMENT, MODIFICATION AND TERMINATION 
 15.1 AMENDMENT, MODIFICATION AND TERMINATION. The Board may at any time and from time to time alter, amend, suspend or terminate the Plan in whole or in part. 
 15.2 AWARDS PREVIOUSLY GRANTED. No termination, amendment or modification of the Plan shall adversely affect in any material way any Award previously granted under the Plan, without the written consent of the
Participant holding such Award. 
  

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 ARTICLE SIXTEEN 
 WITHHOLDING 
 16.1 TAX WITHHOLDING. The Company shall have the power and the right to deduct or
withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of
this Plan. 
 16.2 SHARE WITHHOLDING. With respect to withholding required upon the exercise of Options or SARs, upon the lapse of
restrictions on Restricted Stock, or upon any other taxable event arising as a result of Awards granted hereunder, Participants may elect, subject to the approval of the Committee, to satisfy the withholding requirement, in whole or in part, by
having the Company withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax which could be imposed on the transaction. All such elections shall be irrevocable, made in writing,
signed by the Participant, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 
 ARTICLE SEVENTEEN 
 INDEMNIFICATION 
 Each person who is or shall have been a member of the Committee, or of the Board, shall be indemnified by the Company against and from any loss, cost, liability or expense that may be imposed upon or reasonably
incurred by him or her in connection with or resulting from any claim, action, suit or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan. Such person
shall be indemnified by the Company for all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such action, suit or proceeding against him or her, provided
he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any
other rights of indemnification to which such persons may be entitled under the Company’s Articles of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless.

 ARTICLE EIGHTEEN 
 SUCCESSORS 
 All obligations of the Company under the Plan with respect to Awards granted hereunder shall be binding on any
successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation or otherwise, of all or substantially all of the business and/or assets of the Company. 
  

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 ARTICLE NINETEEN 
 LEGAL CONSTRUCTION 
 19.1 GENDER AND NUMBER. Except where otherwise indicated by the context, any
masculine term used herein shall also include the feminine, the plural shall include the singular, and the singular shall include the plural. 
 19.2 SEVERABILITY. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the
illegal or invalid provision had not been included. 
 19.3 REQUIREMENTS OF LAW. The granting of Awards and the issuance of Shares under the
Plan shall be subject to all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 19.4 GOVERNING LAW. To the extent not preempted by federal law, the Plan, and all agreements hereunder, shall be construed in accordance with and
governed by the laws of the State of Delaware, without giving effect to the conflict of laws principles thereof. 
 ARTICLE TWENTY

 TERMINATION 
 The
Plan shall terminate on the tenth (10th) anniversary of the Effective Date or at such earlier time as the
Committee, with the consent of the Board, may determine. No termination shall affect any Award then outstanding under the Plan. 
 * * * * * *

  

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