Document:

Third Amendment to Loan and Security Agreement

 Exhibit 10.1 
 THIRD AMENDMENT 
 TO 

LOAN AND SECURITY AGREEMENT 
 THIS THIRD AMENDMENT to Loan and Security Agreement (this “Amendment”) is entered into this 22nd day of June, 2012, by and between SILICON VALLEY BANK (“Bank”) and
DOT HILL SYSTEMS CORP., a Delaware corporation (“Borrower”) whose address is 1351 S. Sunset Street, Longmont, CO 80501. 
 RECITALS 

A.        Bank and Borrower have entered into that certain Loan and Security Agreement
dated as of July 21, 2008 (as amended by that certain First Amendment to Loan and Security Agreement dated as of July 30, 2009 and that certain Second Amendment to Loan and Security Agreement dated as of February 3, 2011, as the same
may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”). 

B.        Bank has extended credit to Borrower for the purposes permitted in the Loan
Agreement. 
 C.        Borrower has requested that Bank amend the Loan
Agreement to (i) modify the covenants, (ii) extend the maturity date and (iii) make certain other revisions to the Loan Agreement as more fully set forth herein. 

D.        Bank has agreed to so amend certain provisions of the Loan Agreement, but only
to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

 1.        Definitions. Capitalized terms used but not defined in this
Amendment shall have the meanings given to them in the Loan Agreement. 

2.        Amendments to Loan Agreement. 

2.1        Section 2.1.2 (Letters of Credit Sublimit). Section 2.1.2 of
the Loan Agreement hereby is amended and restated in its entirety to read as follows: 

“2.1.2        Intentionally Omitted.” 

2.2        Section 2.1.3 (Cash Management Services Sublimit).
Section 2.1.3 of the Loan Agreement hereby is amended and restated in its entirety to read as follows: 

“2.1.3        Intentionally Omitted.” 

2.3        Section 2.2 (Overadvances). Section 2.2 of the Loan Agreement
hereby is amended and restated in its entirety to read as follows: 

“2.2        Overadvances. If, at any time, the outstanding principal
amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base, Borrower shall immediately pay to Bank in cash such excess (such excess being an “Overadvance”). Without limiting Borrower’s
obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.” 

 2.4        Section 3.4 (Procedures
for Borrowing). Section 3.4 of the Loan Agreement hereby is amended and restated in its entirety to read as follows: 
 “3.4        Procedures for Borrowing. Subject to the prior satisfaction of all other applicable conditions to the making of an Advance set forth in this
Agreement, to obtain an Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 p.m. Pacific time on the Funding Date of the Advance. Bank shall credit Advances to the Designated
Deposit Account. Bank may make Advances under this Agreement based on instructions from a Responsible Officer or his or her designee or without instructions if the Advances are necessary to meet Obligations which have become due. Bank may rely on
any telephone notice given by a person whom Bank believes is a Responsible Officer or designee.” 

2.5        Section 4.1 (Grant of Security). The following new paragraphs
hereby are added to the end of Section 4.1 of the Loan Agreement as follows: 
 “Borrower acknowledges
that it previously has entered, and/or may in the future enter, into Bank Services Agreements with Bank. Regardless of the terms of any Bank Services Agreement, Borrower agrees that any amounts Borrower owes Bank thereunder shall be deemed to be
Obligations hereunder and that it is the intent of Borrower and Bank to have all such Obligations secured by the first priority perfected security interest in the Collateral granted herein (subject only to Permitted Liens that may have superior
priority to Bank’s Lien in this Agreement). 
 If this Agreement is terminated, Bank’s Lien in the
Collateral shall continue until the Obligations (other than inchoate indemnity obligations) are satisfied in full, and at such time, Bank shall, at Borrower’s sole cost and expense, terminate its security interest in the Collateral and all
rights therein shall revert to Borrower. In the event (x) all Obligations (other than inchoate indemnity obligations), except for Bank Services, are satisfied in full, and (y) this Agreement is terminated, Bank shall terminate the security
interest granted herein upon Borrower providing cash collateral acceptable to Bank in its good faith business judgment for Bank Services, if any. In the event such Bank Services consist of outstanding Letters of Credit, Borrower shall provide to
Bank cash collateral in an amount equal to one hundred five percent (105%) of the Dollar Equivalent of the face amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in connection therewith (as estimated
by Bank in its good faith business judgment), to secure all of the Obligations relating to such Letters of Credit.” 

2.6        Section 9.1 (Rights and Remedies). New Section 9.1(k) hereby
is added to the Loan Agreement as follows: 
 “(k)        terminate
any FX Contracts.” 

  
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 2.7        Section 12.9
(Survival). Section 12.9 of the Loan Agreement hereby is amended and restated in its entirety to read as follows: 
 “12.9         Survival. All covenants, representations and warranties made in this Agreement continue in full force until this Agreement has terminated
pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) have been paid in full and satisfied. The grant of security
interest by Borrower in Section 4.1 shall survive until the termination of all Bank Services Agreements, and the obligation of Borrower in Section 12.2 to indemnify Bank shall survive until the statute of limitations with respect to such
claim or cause of action shall have run.” 
 2.8        Section 13
(Definitions). The following terms and their respective definitions set forth in Section 13.1 of the Loan Agreement hereby are added, or amended and restated in their entireties, as follows: 

“Availability Amount” is (a) the lesser of (i) the Revolving Line or (ii) the amount
available under the Borrowing Base minus (b) the outstanding principal balance of any Advances. 

“Bank Services” are any products, credit services, and/or financial accommodations previously, now, or
hereafter provided to Borrower or any of its Subsidiaries by Bank or any Bank Affiliate, including, without limitation, any letters of credit, cash management services (including, without limitation, merchant services, direct deposit of payroll,
business credit cards, and check cashing services), interest rate swap arrangements, and foreign exchange services as any such products or services may be identified in Bank’s various agreements related thereto (each, a “Bank Services
Agreement”). 
 “Credit Extension” is any Advance or any other extension of credit by
Bank for Borrower’s benefit. 
 “FX Contract” is any foreign exchange contract by and
between Borrower and Bank under which Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency on a specified date. 
 “Letter of Credit” is a standby or commercial letter of credit issued by Bank upon request of Borrower based upon an application, guarantee, indemnity, or similar agreement. 

“Loan Documents” are, collectively, this Agreement, the Perfection Certificate, any Bank Services
Agreement, any note, or notes or guaranties executed by Borrower, and any other present or future agreement between Borrower and/or for the benefit of Bank in connection with this Agreement, all as amended, restated, or otherwise modified.

 “Net Worth” means (i) stockholder’s equity as calculated in accordance with GAAP,
plus (ii) 123R stock based compensation expenses, plus (iii) goodwill and long-lived asset impairment charges in an amount not to exceed Five Million Dollars ($5,000,000) in any calendar year, plus (iv) restructuring expenses to the
extent such expenses occur in an amount not to exceed Five Million Dollars ($5,000,000), plus (v) during Borrower’s 2012 fiscal year, one time unusual expenses related to write-downs in connection with (a) accounts receivable owing
from Xiotech, (b) Borrower’s Cloverleaf (UVS) business unit and (c) one time unusual expenses agreed upon by Bank and Borrower, in an amount not to exceed an aggregate of Five Million Dollars ($5,000,000).” 

  
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 “Obligations” are Borrower’s obligations to pay
when due any debts, principal, interest, Bank Expenses and other amounts Borrower owes Bank now or later, whether under this Agreement, the other Loan Documents, or otherwise, including, without limitation, any interest accruing after Insolvency
Proceedings begin and debts, liabilities, or obligations of Borrower assigned to Bank, and to perform Borrower’s duties under the Loan Documents. 
 “Revolving Line Maturity Date” means July 21, 2015. 
 “Third Amendment Effective Date” means June 22, 2012. 

2.9        Section 13 (Definitions). Clause (h) of the defined term
“Eligible Accounts” set forth in Section 13.1 hereby is amended and restated in its entirety to read as follows: 
 “(h) Accounts owing from an Account Debtor, including Affiliates, whose total obligations to Borrower exceed twenty-five (25%) of all Accounts, except for (i) Oracle and NetApp, for which
such percentage is fifty percent (50%), and (ii) Hewlett-Packard for which such percentage is eighty five percent (85%);” 
 2.10        Section 13 (Definitions). The following terms and their respective definitions set forth in Section 13.1 hereby are deleted in
their entireties: 
 “Cash Management Services” and “Letter of Credit Application”.

 2.11        Exhibit E to the Loan Agreement hereby is replaced in its entirety
with Exhibit E attached hereto. 
 3.        Limitation of Amendments.

 3.1        The amendments set forth in Section 2,
above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or
(b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document. 
 3.2        This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties,
covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 
 4.        Representations and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as follows:

 4.1        Immediately after giving effect to this Amendment
(a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which
case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing; 

  
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 4.2        Borrower has the
power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3        The organizational documents of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended,
supplemented or restated and are and continue to be in full force and effect; 

4.4        The execution and delivery by Borrower of this Amendment and
the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized; 
 4.5        The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other
governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 
 4.6        The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on
either Borrower, except as already has been obtained or made; and 

4.7        This Amendment has been duly executed and delivered by Borrower
and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general
application and equitable principles relating to or affecting creditors’ rights. 

5.        Counterparts. This Amendment may be executed in any number of
counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 

6.        Effectiveness. This Amendment shall be deemed effective upon (a) the
due execution and delivery to Bank of this Amendment by each party hereto, (b) the due execution and delivery to Bank of updated Borrowing Resolutions for Borrower, (c) Borrower’s payment of an amendment fee in an amount equal to
Sixty Thousand Dollars ($60,000) which may be debited from any of Borrower’s accounts with Bank and (d) Borrower’s payment of all Bank expenses incurred through the date of this Amendment, which may be debited from any of
Borrower’s accounts with Bank. 
 [Balance of Page Intentionally Left Blank] 

[Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto
have caused this Amendment to be duly executed and delivered as of the date first written above. 
  

									
	BANK	 		 	BORROWER
			
	Silicon Valley Bank	 		 	Dot Hill Systems Corp.
					
	By:	 	/s/    Kurt Nichols        	 		 	By:	 	/s/    Hanif Jamal        
	Name:	 	Kurt Nichols	 		 	Name:	 	Hanif Jamal
	Title:	 	RM II	 		 	Title:	 	CFO

  
  
  

 
  

[Signature Page to Third Amendment to Loan and Security Agreement]Sangamo BioSciences, Inc. Incentive Compensation Plan

 Exhibit 10.1 
 SANGAMO BIOSCIENCES, INC. 
 INCENTIVE COMPENSATION PLAN 

ARTICLE I 

NAME AND PURPOSE 
 1.01 Purpose. Sangamo BioSciences, Inc., a corporation duly organized and existing under the laws of the State of Delaware (the “Corporation”), hereby establishes the Sangamo
BioSciences, Inc. Incentive Compensation Plan (the “Plan”) in order to (i) provide the Corporation’s executive officers with the opportunity to earn incentive compensation contingent upon the Corporation’s attainment of
pre-established Corporate Objectives, achievement of any Individual Objectives and completion of designated service periods, (ii) attract and retain high quality executive officers, and (iii) provide an incentive to the Corporation’s
executive officers to achieve the Corporate Objectives and Individual Objectives. 
 1.02 General. The
benefits provided under the Plan shall be paid, as they become due, from the Corporation’s general assets. The interest of each participant (and his or her beneficiary) in any benefits that become payable under the Plan shall be no greater than
that of an unsecured creditor of the Corporation. 
 ARTICLE II 

ADMINISTRATION OF THE PLAN 
 2.01 Plan Administrator. The Plan shall be administered by the Compensation Committee of the Board, and the Compensation Committee acting in such capacity shall hereinafter be
referred to as the Plan Administrator. As Plan Administrator, the Compensation Committee shall have full power and authority to administer the Plan, establish each Performance Period and select the Eligible Employees who are to participate in the
Plan for each Performance Period. Notwithstanding the foregoing, the Board shall determine the Corporate Objectives for each Performance Period and the Plan Administrator shall determine the Individual Objectives, if any, to be achieved by each
Participant for each Performance Period and the level at which the applicable Corporate Objectives and any Individual Objectives were achieved for each Performance Period. 
 2.02 Authority. The interpretation and construction of any provision of the Plan and the adoption of rules and regulations for Plan administration shall be made by the Plan
Administrator. Decisions of the Plan Administrator shall be final and binding on all parties who have an interest in the Plan, including (without limitation) all decisions relating to an individual’s eligibility for participation in the Plan,
his or her entitlement to benefits hereunder and the amount of any such benefit entitlement. 

 ARTICLE III 
 DEFINITIONS 
 3.01 “Board” shall mean
the Corporation’s Board of Directors. 
 3.02 “Change in Control” shall have the meaning
assigned to such term in the Corporation’s 2004 Stock Incentive Plan, or any successor plan. 
 3.03
“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 
 3.04
“Corporation” shall mean Sangamo BioSciences, Inc. and any successor or assignee corporation, whether by way of merger, acquisition or other reorganization. 

3.05 “Eligible Employee” shall mean each executive officer of the Corporation. 

3.06 “Employee” shall mean any person in the employ of the Corporation or any Subsidiary, subject to
control and direction of the employer entity as to both the work to be performed and the manner and method of performance. 

3.07 “Employment Agreement” shall mean an employment agreement by and between the Participant and the
Corporation. 
 3.08 “Incentive Bonus” shall mean the cash bonus to which the Participant may
become entitled with respect to a particular Performance Period on the basis of the Corporation’s attainment of the Corporate Objectives and the Participant’s attainment of Individual Objectives, if any, which the Plan Administrator
establishes for that Performance Period. 
 3.09 “Individual Objectives” shall mean one or more
specific performance objectives which the Plan Administrator designates for a Participant to attain in a particular Performance Period in order for such Participant to become entitled to a Incentive Bonus for that Performance Period. Individual
Objectives shall be based on one or more of the following criteria: (i) the Participant’s contribution toward the achievement of a specific Corporate Objective, (ii) the contribution of the business unit or division supervised by the
Participant toward the achievement of a specific Corporate Objective, and (iii) the Participant’s development of professional skills. 
 3.10 “1934 Act” shall mean the Securities Exchange of 1934, as amended. 
 3.11 “Participant” shall mean each Eligible Employee who participates in the Plan. 

  
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 3.12 “Corporate Objectives” shall mean one or more specific
performance objectives which the Board designates for the Corporation to attain in a particular Performance Period in order for each Participant to become entitled to an Incentive Bonus for that Performance Period. Corporate Objectives shall be
based on one or more of the following criteria: (i) revenue, organic revenue, net sales, or new-product revenue or net sales, (ii) achievement of specified milestones in the discovery and development of the Company’s technology or of
one or more of the Company’s products, (iii) achievement of specified milestones in the commercialization of one or more of the Company’s products, (iv) achievement of specified milestones in the manufacturing of one or more of
the Company’s products, (v) expense targets, (vi) share price, (vii) total shareholder return, (viii) earnings per share, (ix) operating margin, (x) gross margin, (xi) return measures (including, but not
limited to, return on assets, capital, equity, or sales), (xii) productivity ratios, (xiii) operating income, (xiv) net operating profit, (xv) net earnings or net income (before or after taxes), (xvi) cash flow (including,
but not limited to, operating cash flow, free cash flow and cash flow return on capital), (xvii) earnings before or after interest, taxes, depreciation, amortization and/or stock-based compensation expense, (xviii) economic value added,
(xix) market share, (xx) working capital targets, (xxi) achievement of specified milestones relating to corporate partnerships, collaborations, license transactions, distribution arrangements, mergers, acquisitions, dispositions or
similar business transactions, and (xxii) employee retention and recruiting and human resources management. Such Corporate Objectives may be measured not only in terms of the Company’s performance but also in terms of its performance
relative to the performance of other entities or may be measured on the basis of the performance of any of the Company’s business units or divisions or any parent or subsidiary entity. Performance may also be measured on an absolute basis,
relative to internal business plans, or based on growth. As may be applicable, they may also be measured in aggregate or on a per-share basis. 
 3.13 “Performance Period” shall mean the period over which the Corporation must attain the Corporate Objectives and the Participant must attain the Individual Objectives, if
any, which the Plan Administrator has established for that period. Unless the Plan Administrator determines otherwise, each Performance Period shall be coincident with the calendar year. 

3.14 “Service” shall mean Participant’s performance of services for the Corporation (or any
Subsidiary) in the capacity of an Employee. For purposes of this Agreement, Participant shall be deemed to cease Service immediately upon the occurrence of the either of the following events: (i) Participant no longer performs services in the
foregoing capacity for the Corporation (or any Subsidiary) or (ii) the entity for which Participant performs such services ceases to remain a Subsidiary of the Corporation, even though Participant may subsequently continue to perform services
for that entity. 
 3.15 “Subsidiary” shall mean any corporation (other than the Corporation) in
an unbroken chain of corporations beginning with the Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, stock possessing fifty percent (50%) or more of the
total combined voting power of all classes of stock in one of the other corporations in such chain. 

  
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 ARTICLE IV 
 PARTICIPATION 
 4.01 Eligibility Rules. The Plan
Administrator shall have absolute discretion in selecting the Eligible Employees who are to participate in each Performance Period implemented under the Plan. The initial Participants for each Performance Period shall be selected not later than the
ninetieth (90th) day after the commencement date of that Performance Period. The Plan Administrator may select additional Participants for the Performance Period after such ninetieth (90th) day; provided, however, that the
Plan Administrator may, in its sole discretion, pro-rate the Incentive Bonus which the Participant may earn for that Performance Period to reflect his or her actual period of Service during that Performance Period. 

4.02 Cessation of Participation. The Plan Administrator shall have complete discretion to exclude one or more
individuals from Participant status for one or more subsequent Performance Periods implemented under the Plan. If any individual is excluded from Participant status for one or more Performance Periods, then such individual shall not be entitled to
any Incentive Bonus for those Performance Periods. 
 ARTICLE V 

INCENTIVE BONUSES 
 5.01 Timing and Nature of Awards. The Plan Administrator shall have complete discretion to implement one or more Performance Periods under the Plan. Except with respect to the initial
Performance Period for the 2012 year, within the first ninety (90) days of each Performance Period, the Board shall establish the specific Corporate Objectives which must be attained for that Performance Period and the Plan Administrator shall
establish the specific Individual Objectives which must be attained by each Participant, if any, for that Performance Period. For each Corporate Objective and Individual Objective, the Plan Administrator may set threshold, target and above-target
levels of attainment. The Plan Administrator shall establish for each Participant dollar levels for the Incentive Bonus to which he or she may become entitled for that Performance Period based on the level at which the Corporate Objectives and the
Individual Objectives, if any, are actually attained. Such dollar levels may be a specified dollar amount or tied to a percentage or multiple of the annual rate of base salary in effect for the Participant for the applicable Performance Period.

 5.02 Service Requirement. A Participant shall not become entitled to a Incentive Bonus for a particular
Performance Period unless the Participant continues in Service through the date the actual Incentive Bonus is paid to each Participant following the completion of that Performance Period. 

5.03 Determination of Bonus Amount. As soon as practicable, but not later than forty-five (45) days following
the completion of the Performance Period, the Plan Administrator shall determine the actual level of attainment of each Corporate Objective and 

  
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Individual Objective established for that Performance Period and shall then measure and certify that level of attainment against the levels of attainment established for that Corporate Objective
and Individual Objective. On the basis of the foregoing measurements and certification, the Plan Administrator shall determine the actual Incentive Bonus for each Participant entitled to a Incentive Bonus for the Performance Period. 

5.04 Change in Control. Should a Change in Control transaction be consummated prior to the completion of that
Performance Period, then the Performance Period shall terminate upon the consummation of that Change in Control. In such event, the actual Incentive Bonus for each Participant entitled under Section 5.01 to a bonus for that Performance Period
shall be in the dollar amount previously set by the Plan Administrator at target level attainment of each Corporate Objective and any Individual Objective, however, the Plan Administrator shall pro-rate such bonus to reflect the Participant’s
actual period of Service from the start date of the Performance Period through the effective date of the Change in Control. Notwithstanding the terms of any Employment Agreement to the contrary, in the event a Participant becomes eligible to receive
a severance payment under his or her Employment Agreement in connection with the Participant’s cessation of Service in the year in which such Change in Control transaction is consummated, the amount of which is based in whole or in part on the
amount of Participant’s target bonus under this Plan, the pro-rated bonus paid pursuant to the terms of this Plan shall reduce the amount of severance payable to the Participant based on the amount of the Participant’s target bonus
pursuant to the terms of such Employment Agreement. 
 ARTICLE VI 

PAYMENT OF INCENTIVE BONUSES 
 6.01 Payment. The Participant’s Incentive Bonus shall be paid to the Participant in cash in accordance with the following requirements: 

(i) for a full Performance Period, the payment shall be made within sixty (60) days after the last day of the
Performance Period. 
 (ii) for an abbreviated Performance Period under Section 5.04, the payment shall be
made within sixty (60) days after the effective date of the Change in Control transaction triggering that abbreviated Performance Period. 
 6.02 Withholding Taxes. The Corporation shall collect all federal, state and local income, employment and other payroll taxes (including FICA taxes) required to be withheld from the
Participant’s Incentive Bonus, as and when those taxes become due under applicable law. The Corporation shall collect such taxes through tax withholdings from the Incentive Bonus or other wages and earnings payable to the Participant or by any
other means acceptable to the Corporation. 

  
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 ARTICLE VII 
 MISCELLANEOUS 
 7.01 Plan Effective Date. The Plan
shall become effective immediately upon approval by the Plan Administrator. 
 7.02 Benefit
Limit. In the event any payment to which Participant becomes entitled under the Plan would otherwise constitute a parachute payment under Code Section 280G, then that payment shall be subject to reduction to the
extent necessary to assure that such payment will be limited to the greater of (i) the dollar amount which can be paid to the Participant without triggering a parachute payment under Code Section 280G or (ii) the dollar
amount of that payment which provides the Participant with the greatest after-tax amount after taking into account any excise tax the Participant may incur under Code Section 4999 with respect to such payment and any other benefits or payments
to which the Participant may be entitled in connection with any change in control or ownership of the Corporation or the subsequent termination of the Participant’s Service. 

7.03 Benefits Not Funded. The obligation to pay each Participant’s Incentive Bonus shall at all times be an unfunded
and unsecured obligation of the Corporation. The Corporation shall not have any obligation to establish any trust, escrow arrangement or other fiduciary relationship for the purpose of segregating funds for the payment of the Incentive Bonus
Incentives Bonuses which become payable under the Plan, nor shall the Corporation be under any obligation to invest any portion of its general assets in mutual funds, stocks, bonds, securities or other similar investments in order to accumulate
funds for the satisfaction of its respective obligations under the Plan. The Participant (or his or her beneficiary) shall look solely and exclusively to the general assets of the Corporation for the payment of his or her Incentive Bonus.

 7.04 No Employment Right. Neither the action of the Corporation in establishing or maintaining the Plan, nor
any action taken under the Plan by the Plan Administrator, nor any provision of the Plan itself shall be construed so as to grant any person the right to remain in the Service of the Corporation for any period of specific duration, and the
Participant shall at all times remain an Employee at will and may accordingly be discharged at any time, with or without cause and with or without advance notice of such discharge. 

7.05 Amendment/Termination. The Plan Administrator may at any time amend, suspend or terminate the Plan. 

7.06 Applicable Law. The provisions of the Plan shall also be construed, administered and governed by the laws of the State
of Delaware without resort to its conflict-of-laws provisions. If any provision of this Plan shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions of the Plan shall continue in full force and
effect. 

  
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 7.07 Satisfaction of Claims. Any payment made to a Participant or his or her
legal representative, beneficiary or estate in accordance with the terms of this Plan shall to the extent thereof be in full satisfaction of all claims with respect to that payment which such person may have against the Plan, the Plan Administrator
(or its designate) or the Corporation (or any parent or Subsidiary), any of whom may require the Participant or his or her legal representative, beneficiary or estate, as a condition precedent to such payment, to execute a receipt and release in
such form as shall be determined by the Plan Administrator. 
 7.08 Alienation of Benefits. No person entitled to
benefits under the Plan shall have any right to transfer, assign, alienate, pledge, hypothecate or otherwise encumber his or her interest in such benefits prior to actual receipt of those benefits. The benefits payable under the Plan shall not,
prior to actual payment, be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person and shall not, to the maximum extent permitted by law, be transferable
by operation of law in the event of the bankruptcy or insolvency of the Participant or any other person. 
 7.09
Successors and Assigns. The obligation of the Corporation to make the payments required hereunder shall be binding upon the successors and assigns of the Corporation, whether by merger, consolidation, acquisition or other reorganization.

 7.10 Construction and Interpretation. The Plan shall be administered, operated and construed in
compliance with the requirements of the short-term deferral exception to Internal Revenue Code Section 409A of and Treasury Regulations Section 1.409A-1(b)(4). Accordingly, to the extent there is any ambiguity as to whether one or more
provisions of the Plan would otherwise contravene the requirements or limitations of Internal Revenue Code Section 409A applicable to such short-term deferral exception, then those provisions shall be interpreted and applied in a manner that
does not result in a violation of the requirements or limitations of Internal Revenue Code Section 409A and the Treasury Regulations thereunder that apply to such exception. 

  
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