Document:

Exhibit 10.14

AMENDED AND RESTATED

Quest Diagnostics Incorporated

Employee Long-Term Incentive Plan

(As amended on October 31, 2008)

	
 

	
 

	
1.

	
THE PROGRAM

          a) Purpose. This Amended and Restated Quest Diagnostics Incorporated Employee
Long-Term Incentive Plan (the “Program”) is intended to benefit the
stockholders of Quest Diagnostics Incorporated (the “Company”) by providing a
means to attract, retain and reward individuals who can and do contribute to
the longer term financial success of the Company. Further, the recipients of
stock-based awards under the Program should identify their success with that of
the Company’s stockholders and therefore will be encouraged to increase their
proprietary interest in the Company.

          b) Effective Date. To serve this purpose, the Program will become effective upon
its approval by the holders of stock entitled to vote at the Company’s 2005
Annual Meeting of Stockholders (the “Effective Date”).

	
 

	
 

	
2.

	
ADMINISTRATION

          a) Committee. The Program shall be administered by a Committee, appointed by the
Board of Directors of the Company (the “Board”), which shall consist of no less
than two of its members, all of whom shall not be (or formerly have been)
employees of the Company (the “Committee”); provided, however, that from time
to time the Board may assume, at its sole discretion, administration of the
Program. Except with regard to awards to employees subject to Section 16 of the
Securities Exchange Act of 1934, the Committee may delegate certain responsibilities
and powers to any executive officer or officers selected by it. Any such
delegation may be revoked by the Committee at any time.

          b) Powers and authority. The Committee’s powers and authority include, but are not
limited to: selecting individuals, who are employees of the Company and any
subsidiary of the Company or other entity in which the Company has a
significant equity or other interest as determined by the Committee, to receive
awards; determining the types and terms and conditions of all awards granted,
including performance and other earnout and/or vesting contingencies;
permitting transferability of awards to eligible third parties; interpreting
the Program’s provisions; and administering the Program in a manner that is
consistent with its purpose. The Committee’s decision in carrying out the
Program and its interpretation and construction of any provisions of the
Program or any award granted or agreement or other instrument executed under it
shall be final and binding upon all persons. No members of the Board shall be
liable for any action or determination made in good faith in administering the
Program.

          c) Award Prices. Except for awards made in connection with the assumption of, or
in substitution for, outstanding awards previously granted by an acquired
entity, all awards denominated or made in Shares shall use as the per Share
price the mean between the high and low selling prices of a share of the Common
Stock of the Company (“Share”) on the applicable date as reported in The New
York Times, or if Shares are not traded on such date, the mean between the high
and low selling prices on the next preceding day on which such Shares are
traded; provided, however, that the Committee may in its discretion establish a
higher price as the per Share price; and provided further, however, that where
a “reload” option is issued to an optionee who exercises an option by tendering
(either actually or by attestation) Shares previously owned by the optionee,
then the per Share exercise price of the reload option (which shall be for the
same number of shares tendered for payment) shall be the market price at which
the Shares tendered are valued in accordance with Section 4(b). The applicable
date shall be the day on which the award is granted. Except as provided for in
Section 3(d), the per Share exercise price of any stock option or stock
appreciation right may not be decreased after the grant of the award, and a
stock option or stock appreciation right may not be surrendered as consideration
in exchange for the grant of a new award with a lower per Share exercise price.

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 3.

	
SHARES SUBJECT TO THE PROGRAM AND ADJUSTMENTS

          a) Maximum Shares Available for Delivery. Subject to adjustments under Section
3(d), the maximum number of Shares that may be delivered to participants and
their beneficiaries under the Program shall be equal to (i) 48,000,0001
Shares; (ii) any Shares that were available for future awards under the
Company’s 1996 Employee Equity Participation Program (the “Prior Program”) as
of June 29, 1999; and (iii) any Shares that were represented by awards granted
under the Prior Program of the Company, which are or may be forfeited, which
expire or are canceled without the delivery of Shares or which have or may
result in the forfeiture of Shares back to the Company after June 29, 1999. In
addition, any Shares delivered under the Program or the Prior Program of the
Company which are forfeited back to the Company because of the failure to meet
an award contingency or condition shall again be available for delivery
pursuant to new awards granted under the Program. Any Shares covered by an
award (or portion of an award) granted under the Program or the Prior Program
of the Company, which is forfeited or canceled, expires or is settled in cash,
including the settlement of tax withholding obligations using Shares, shall be
deemed not to have been delivered for purposes of determining the maximum
number of Shares available for delivery under the Program. Likewise, if any
stock option is exercised by tendering Shares, either actually or by
attestation, to the Company as full or partial payment for such exercise under
this Program or the Prior Program of the Company, only the number of Shares
issued net of the Shares tendered shall be deemed delivered for purposes of
determining the maximum number of Shares available for delivery under the
Program. Further, Shares issued under the Program through the settlement,
assumption or substitution of outstanding awards or obligations to grant future
awards as a condition of the Company acquiring another entity shall not reduce
the maximum number of Shares available for delivery under the Program. 

          b) Other Program Limits. Subject to
adjustment under Section 3(d), the following additional maximums are imposed
under the Program. The maximum number of Shares that may be delivered in
conjunction with awards granted pursuant to Section 4(d) on or after the
Effective Date, shall be 7,000,000. The maximum aggregate number of Shares that
may be covered by awards granted to any one individual over the life of the
Program pursuant to Sections 4(b) and 4(c) shall not exceed 6,000,000 Shares.
The aggregate maximum payments that can be made for awards granted to any one
individual pursuant to Section 4(d) on or after the Effective Date shall not
exceed 1,200,000 Shares.

          c) Payment Shares. Subject to the overall limitation on the number of Shares that
may be delivered under the Program, the Committee may, in addition to granting
awards under Section 4, use available Shares as the form of payment for
compensation, grants or rights earned or due under any other compensation plans
or arrangements of the Company.

          d) Adjustments for Corporate Transactions. In the event of any change in the
Shares by reason of any stock split, reverse stock split, stock dividend
recapitalization, reorganization, merger, consolidation, split-up, combination
or exchange of shares, or any similar change affecting the Shares, (i) the
number and kind of shares which may be delivered under the Program pursuant to
Sections 3(a) and 3(b); (ii) the number and kind of shares subject to
outstanding awards; and (iii) the exercise price of outstanding stock
options and stock appreciation rights shall be appropriately adjusted
consistent with such change in such manner as the Committee may deem equitable
to prevent substantial dilution or enlargement of the right granted to, or
available for, participants in the Program; provided, however, that no such
adjustment shall be required if the Committee determines that such action could
cause an option to fail to satisfy the conditions of an applicable exception
from the requirements of Section 409A of the Internal Revenue Code (“Section
409A”) or otherwise could subject a participant to the additional tax imposed
under Section 409A in respect of an outstanding stock grant. Similar
adjustments may be made in situations where the Company assumes or substitutes
for outstanding awards held by employees and other persons of an entity acquired
by the Company.

1 All Share
 totals included in Section 3 and 4 have been adjusted to reflect the
 two-for-one stock split effective on June 20, 2005.

2

	
 

	
 

	
4.

	
TYPES OF AWARDS

          a) General. An award may be granted
singularly, in combination with another award(s) or in tandem whereby exercise
or vesting of one award held by a participant cancels another award held by the
participant. Subject to the limitations of Section 2(c), an award may be
granted as an alternative or successor to or replacement of an existing award
under the Program or under any other compensation plan or arrangement of the
Company, including the plan of any entity acquired by the Company. The types of
awards that may be granted under the Program include: 

          b) Stock Option. A stock option
represents a right to purchase a specified number of Shares during a specified
period at a price per Share which is no less than one hundred percent (100%) of
the per Share amount stipulated by Section 2(c). A stock option may be in a
form intended to comply with Section 422 or any other similar provision of the
Internal Revenue Code (the “Code”) or in another form which may or may not
qualify for favorable federal income tax treatment. Each stock option granted
on or after the Effective Date shall expire on the applicable date designated
by the Committee but in no event may such date be more than seven years from
the date the stock option is granted. The Shares covered by a stock option may
be purchased by means of a cash payment or such other means as the Committee
may from time-to-time permit, including (i) tendering (either actually or by
attestation) Shares valued using the market price at the time of exercise, (ii)
authorizing a third party to sell Shares (or a sufficient portion thereof)
acquired upon exercise of a stock option and to remit to the Company a
sufficient portion of the sale proceeds to pay for all the Shares acquired
through such exercise and any tax withholding obligations resulting from such
exercise; or (iii) any combination of the above. It is intended that any such
settlement or deferral shall be implemented in a manner and this Program shall
be interpreted and administered so as to comply with Section 409A of the Code
and any applicable guidance issued thereunder in order to avoid the imposition
of tax to an employee under such Section in respect of any award.

          c) Stock Appreciation Right. A stock
appreciation right is a right to receive a payment in cash, Shares or a
combination, equal to the excess of the aggregate market price at time of
exercise of a specified number of Shares over the aggregate exercise price of
the stock appreciation right being exercised. The longest term a stock
appreciation right granted on or after the Effective Date may be outstanding
shall be seven years. Such exercise price shall be no less than one hundred
percent (100%) of the per Share amount stipulated by Section 2(c).

          d) Stock Award. A stock award is a grant
of Shares or of a right to receive Shares (or their cash equivalent or a
combination of both) in the future. Each stock award shall be earned and vest
over such period and shall be governed by such conditions, restrictions and
contingencies as the Committee shall determine. These may include continuous
service and/or the achievement of performance goals. The performance goals that
may be used by the Committee for such awards granted to persons who may become
subject to Code Section 162(m) shall consist of operating profits (including
EBITDA), net profits, earnings per share, profit returns and margins, revenues,
shareholder return and/or value, stock price, customer service and quality
metrics. Performance goals may be measured solely on a corporate, subsidiary or
business unit basis, or a combination thereof. Further, performance criteria
may reflect absolute entity performance or a relative comparison of entity
performance to the performance of a peer group of entities or other external
measure of the selected performance criteria. Profit, earnings and revenues
used for any performance goal measurement may exclude: gains or losses on
operating asset sales or dispositions; asset write-downs; litigation or claim
judgments or settlements; accruals for historic environmental obligations;
effect of changes in tax law or rate on deferred tax liabilities; accruals for
reorganization and restructuring programs; uninsured catastrophic property
losses; the effect of changes in accounting standards; the cumulative effect of
changes in accounting principles; and any extraordinary non-recurring items as
described in Accounting Principles Board Opinion No. 30 and Statement of
Financial Accounting Standards No. 145 and/or in management’s discussion and
analysis of financial performance appearing in the Company’s annual report to
stockholders for the applicable year.

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5.

	
AWARD SETTLEMENTS AND PAYMENTS

          a) Dividends and Dividend Equivalents. An
award may contain the right to receive dividends or dividend equivalent
payments which may be paid either currently or credited to a participant’s
account. Any such crediting of dividends or dividend equivalents may be subject
to such conditions, restrictions and contingencies as the Committee shall
establish, including the reinvestment of such credited amounts in Share
equivalents.

          b) Payments. Awards may be settled
through cash payments, the delivery of Shares, the granting of awards or
combination thereof as the Committee shall determine. Any award settlement,
including payment deferrals, may be subject to such conditions, restrictions
and contingencies as the Committee shall determine. The Committee may permit or
require the deferral of any award payment, subject to such rules and procedures
as it may establish, which may include provisions for the payment or crediting
of interest, or dividend equivalents, including converting such credits into
deferred Share equivalents.

	
 

	
 

	
6.

	
PROGRAM AMENDMENT AND TERMINATION

          a) Amendments. The Board may amend this Program and the Committee may amend
any outstanding award in such manner as it deems necessary and appropriate to
better achieve the Program’s purpose, provided, however, that (i) except as
provided in Section 3(d) (a) the Share and other award limitations set forth in
Sections 3(a) and 3(b) cannot be increased and (b) the minimum stock option and
stock appreciation right exercise prices set forth in Sections 2(c) and 4(b)
and (c) cannot be changed unless such a plan amendment is properly approved by
the Company’s stockholders, and (ii) no such amendment shall, without a
participant’s consent, materially adversely affect a participant’s rights with
respect to any outstanding award. Notwithstanding the foregoing, no action
taken by the Committee (x) to settle or adjust an outstanding award pursuant to
Section 3(d) or (y) to modify an outstanding award to avoid, in the reasonable,
good faith judgment of the Company, the imposition on any participant of any
tax, interest or penalty under Section 409A of the Code, shall require the
consent of any participant.

          b) Program Suspension and Termination.
The Board may suspend or terminate this Program at any time. However, in no
event may any awards be granted under the Program after the tenth anniversary
of the Effective Date. Any such suspension or termination shall not of itself
impair any outstanding award granted under the Program or the applicable
participant’s rights regarding such award.

	
 

	
 

	
7.

	
MISCELLANEOUS

          a) Assignability. Except by will or by
the laws of descent and distribution and, if permitted by the Committee, as a
gift to a family member or a trust or similar entity for the benefit of one or
more family members, no award granted under the Program shall be assignable or
transferable.

          b) No Individual Rights. No person shall
have any claim or right to be granted an award under the Program. Neither the
Program nor any action taken hereunder shall be construed as giving any
employee or other person any right to continue to be employed by or to perform
services for the Company, any subsidiary or related entity. The right to
terminate the employment of or performance of services by any Program
participant at any time and for any reason is specifically reserved to the
employing entity. 

          c) Unfunded Program. The Program shall be
unfunded and shall not create (or be construed to create) a trust or a separate
fund or funds. The Program shall not establish any fiduciary relationship
between the Company and any participant or beneficiary of a participant. To the
extent any person holds any obligation of the Company by virtue of an award
granted under the Program, such obligation shall merely constitute a general
unsecured liability of the Company and accordingly shall not confer upon such
person any right, title or interest in any assets of the Company.

          d) Use of Proceeds. Any proceeds from the
sale of shares under the Program shall constitute general funds of the Company.

4

          e) Other Benefit and Compensation
Programs. Unless otherwise specifically determined by the Committee,
settlements of awards received by participants under the Program shall not be
deemed a part of a participant’s regular, recurring compensation for purposes
of calculating payments or benefits from any Company benefit plan or severance program.
Further, the Company may adopt any other compensation programs, plans or
arrangements as it deems appropriate.

          f) No Fractional Shares. No fractional
Shares shall be issued or delivered pursuant to the Program or any award, and
the Committee shall determine whether cash shall be paid or transferred in lieu
of any fractional Shares, or whether such fractional Shares or any rights
thereto shall be canceled.

          g) Governing Law. The validity,
construction and effect of the Program and any award, agreement or other
instrument issued under it shall be determined in accordance with the laws of
the state of New Jersey without reference to principles of conflict of law.

5Exhibit 10.21

AMENDED
AND RESTATED

QUEST DIAGNOSTICS INCORPORATED

LONG-TERM INCENTIVE PLAN FOR

NON-EMPLOYEE DIRECTORS

(As
amended as of October 31, 2008)

          Section
1. Purpose. The purpose of the Amended and Restated Quest Diagnostics
Incorporated Long-Term Incentive Plan for Non-Employee Directors is to secure
for the Company and its stockholders the benefits of the incentive inherent in
increased common stock ownership by the members of the Board of Directors who
are not employees of the Company or any of its subsidiaries.

          Section
2. Definitions. When used herein, the following terms shall have the
following meanings:

          “Administrator”
means the Board, or a committee of the Board, duly appointed to administer the
Plan.

          “Board”
means the Board of Directors of the Corporation.

          “Code”
means the Internal Revenue Code of 1986, as amended.

          “Common
Stock” means ($.01 par value) common stock of the Corporation.

          “Corporation”
means Quest Diagnostics Incorporated, a Delaware corporation.

          “Effective
Date” shall mean the date of approval of the Plan by the holders of stock
entitled to vote at the Corporation’s 2005 Annual Meeting of Stockholders.

          “Exercise
Price” means the price per share specified in the Option agreement at which the
Participant may purchase Common Stock through the exercise of his/her Option,
as the same may be adjusted in accordance with Section 9.

          “Fair
Market Value” means, as of any date, the mean of the high and low sales price
of a share of Common Stock on The New York Stock Exchange Composite list on
such date (or if no sale took place on such exchange on such date, the mean
between the high and the low on such exchange on the most recent preceding date
on which a sale took place); provided, however, that for the purposes
of Section 7(d), if on the date of exercise of an Option, a Participant
sells through a broker designated by the Corporation any of the shares
purchased as a result of the exercise of the Option, then the shares shall be
valued at the average sales price of such shares sold on such date as reported
to the Corporation by such broker.

          “Option”
means a right granted under the Plan to a Participant to purchase shares of
Common Stock as a Nonqualified Stock Option which is not intended to qualify as
an Incentive Stock Option under Section 422 of the Code.

          “Option
Period” means the period within which the Option may be exercised pursuant to
the Plan.

          “Participant”
means a member of the Board of Directors of Quest Diagnostics Incorporated who
is not an employee of Quest Diagnostics Incorporated or any subsidiary thereof.

          “Plan”
means the Amended and Restated Quest Diagnostics Incorporated Long-Term
Incentive Plan for Non-Employee Directors.

          
“Stock Awards” means a grant under the Plan to a Participant of shares of
Common Stock or of a right to receive shares of Common Stock (or their cash
equivalent or a combination of both) in the future.

          Section
3. Administration. The Plan shall be administered by the Administrator
who shall establish from time to time regulations for the administration of the
Plan, interpret the Plan, delegate in writing administrative matters to
committees of the Board or to other persons, and make such other determinations
and take such other action as it deems necessary or advisable for the
administration of the Plan. All decisions, actions and interpretations of the
Administrator shall be final, conclusive and binding upon all parties.

          Section
4. Participation. All Non-Employee Directors who become members of the
Board shall automatically be Participants in the Plan.

          Section 5. Shares
Subject to the Plan. The maximum number of shares of Common Stock that may
be delivered in conjunction with grants of Options and Stock Awards under the
Plan shall be 2,000,000,1 and 2,000,000 shares of Common Stock shall
be reserved for this purpose under the Plan (subject to adjustment as provided
in Section 9). The shares issued upon the grant of Stock Awards or exercise of
Options granted under the Plan may be authorized and unissued shares or shares
held in the treasury of the Corporation including shares purchased on the open
market by the Corporation (at such time or times and in such manner as it may
determine). The Corporation shall be under no obligation to acquire Common
Stock for distribution to Participants before payment in shares of Common Stock
is due. If any Stock Award or Option granted under the Plan shall be canceled
or expire, new Stock Awards or Options may thereafter be granted covering such
shares.

	
 

	

	
1 All Share totals included in
 Sections 5 and 6 have been adjusted to reflect the two-for-one stock
 split effective on June 20, 2005.

-2-

          Section
6. Grants of Options and Stock Awards. 

          (a)
On the Effective Date and on the date of the Annual Meeting of Shareholders of
each year commencing on January 1, 2006, the Administrator may grant to
each Participant an Option and/or a Stock Award, in such proportions as the
Administrator may determine, covering an aggregate of not more than
20,000 shares of Common Stock. In the event that a Participant is elected
as a director of the Company other than on the date of the Annual Meeting of
Shareholders, the Board may grant to such director, on his/her election, an
Option and/or a Stock Award, in such proportions as the Administrator may
determine, covering such number of shares of Common Stock (not to exceed
20,000) that is proportional to the fraction of a year remaining until the next
Annual Meeting of Shareholders. In addition, upon a Participant’s initial
election as a director of the Company by the Board, the Administrator may make
a one-time grant to such Participant of an Option and/or a Stock Award, in such
proportions as the Administrator may determine, covering an aggregate of not
more than 40,000 shares of Common Stock.

          (b)
Each Stock Award shall be earned and vest over such period and shall be
governed by such conditions, restrictions and contingencies as the
Administrator shall determine. These may include the achievement of performance
goals.

          (c)
As may be permitted from time to time by the Administrator, each Participant
may elect to receive an Option or Stock Award in lieu of the cash compensation
payable to such director in any year. The number of shares of Common Stock
underlying the Option available to such director shall be computed using the
same option valuation methodology (or any subsequent methodology as may be adopted
by the Company) as is used for reporting compensation expense in the Company’s
financial statements so as to achieve a value equal to the cash compensation
that would otherwise have been paid. Any such election shall be irrevocable and
shall be made by December 31, effective for the fees payable during the
following year and with an Option being granted on each day on which the fees
would otherwise have been payable (generally expected to be the first day of
each calendar quarter).

          Section
7. Terms and Conditions of Options. Each Option granted under the Plan
shall be evidenced by a written agreement, in form approved by the
Administrator and executed by the Chairman of the Board, President, Vice
President of Human Resources or Secretary of the Corporation, which shall be
subject to the following express terms and conditions and to such other terms
and conditions as the Administrator may deem appropriate. Options may be
granted singularly or in combination with a Stock Award.

          (a)
Option Period.
Each Option agreement entered into on or after the Effective Date shall specify
that the Option granted thereunder is granted for a period of seven
(7) years from the date of grant and shall provide that the Option shall
expire on such seven-year anniversary.

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          (b) Exercise
Price. The Exercise Price per share shall be the Fair Market Value
at the time the Option is granted.

          (c) Exercise of
Option. Subject to Section 7(e), Options granted under
Section 6(a) hereof shall become exercisable in three equal annual
installments beginning on the first anniversary of the date of grant. Options
granted under Section 6(c) vest and become exercisable immediately on the
date of grant. The exercisability of these Options may be limited by the
Corporation’s restrictions on exercise resulting from provisions of its
non-employee director stock ownership guidelines program.

          (d) Payment of
Exercise Price Upon Exercise. The Exercise Price of the shares as to
which an Option shall be exercised shall be paid to the Corporation at such
time (but in no event later than the date on which any shares are issued on
exercise of an Option) as is determined by the Administrator. The Administrator
may authorize in its sole discretion, the payment of the Exercise Price by
(i) delivering Common Stock of the Corporation already owned by the
Participant and having a total Fair Market Value on the date of such delivery
equal to the Exercise Price, (ii) delivering a combination of cash and
Common Stock of the Corporation having a total Fair Market Value on the date of
such delivery equal to the Exercise Price, or (iii) by delivery of a
notice of cancellation of vested Options held by the Participant having a
spread equal to the Exercise Price of the number of shares being exercised,
including any taxes required to be withheld by the corporation in connection
with such exercise. For purposes of the preceding sentence “spread” shall mean
the difference between the Fair Market Value of the Common Stock on the date of
exercise and the Exercise Price multiplied by the number of shares covered by
the vested Options being canceled.

          (e) Termination
of Service on the Board. In the event service on the Board of a
Participant terminates for any reason, all Options previously granted to such
Participant under the Plan may be exercised by the Participant (or, if the
Participant is deceased, by his/her representative) at any time, from time to
time, for the remaining term of the Option.

          (f)
Transferability of Options. No Option granted under the Plan and no
right arising under such Option shall be transferable other than by will or by
the laws of descent and distribution. During the lifetime of the optionee, an
Option shall be exercisable only by him/her.

          (g)
Participants to Have No Rights as Stockholders. No Participant shall
have any rights as a stockholder with respect to any shares subject to his or
her Option prior to the date on which he or she is recorded as the holder of
such shares on the records of the Corporation.

          (h) Other
Option Provisions. The form of Option agreement authorized by the
Plan may contain such other provisions as the Board may, from time to time,
determine.

-4-

          Section
8. Terms and Conditions of Stock Awards. Each Stock Award granted under
the Plan shall be evidenced by a written agreement, in form approved by the
Administrator and executed by the Chairman of the Board, President, Vice
President of Human Resources or Secretary of the Corporation, which shall be
subject to the following express terms and conditions and to such other terms
and conditions as the Administrator may deem appropriate. Stock Awards may be
granted singularly or in combination with an Option.

          (a) Dividends
and Dividend Equivalents. A grant of Stock Awards may contain the
right to receive dividends or dividend equivalent payments which may be paid
either currently or credited to a Participant’s account. Any such crediting of
dividends or dividend equivalents may be subject to such conditions,
restrictions and contingencies as the Administrator shall establish, including
the reinvestment of such credited amounts in Common Stock equivalents.

          (b) Payments.
Stock Awards may be settled through cash payments, the delivery of shares of
Common Stock, the granting of Stock Awards or Options or combination thereof as
the Administrator shall determine. Any Stock Award settlement, including
payment deferrals, may be subject to such conditions, restrictions and
contingencies as the Administrator shall determine. The Administrator may
permit or require the deferral of any award payment, subject to such rules and
procedures as it may establish, which may include provisions for the payment or
crediting of interest, or dividend equivalents, including converting such
credits into deferred share equivalents.

          (c)
Transferability of Stock Awards. Except by will or by the laws of
descent and distribution and, if permitted by the Administrator, as a gift to a
family member or a trust or similar entity for the benefit of one or more
family members, no Stock Award granted under the Plan shall be assignable or
transferable.

          (d)
Participants to Have No Rights as Stockholders. No Participant shall
have any rights as a stockholder with respect to any shares subject to his or
her Stock Award prior to the date on which he or she is recorded as the holder
of such shares on the records of the Corporation.

          (e) Other Stock
Award Provisions. The form of Stock Award agreement authorized by
the Plan may contain such other provisions as the Board may, from time to time,
determine.

          Section
9. Adjustments in Event of Change in Common Stock. In the event of any
change in the Common Stock by reason of any stock split, reverse stock split,
stock dividend recapitalization, reorganization, merger, consolidation,
split-up, combination or exchange of shares, or of any similar change affecting
the Common Stock, the number and kind of shares which thereafter may be
optioned, awarded and sold under the Plan and the number and kind of shares
subject to Stock Awards in outstanding Stock Award Agreements or subject to
Option in outstanding Option agreements and the Exercise Price per share of
such Options shall be appropriately

-5-

adjusted consistent with such change in such manner as
the Administrator may deem equitable to prevent substantial dilution or
enlargement of the right granted to, or available for, Participants in the
Plan; provided,
however, that no such adjustment shall be required if the
Administrator determines that such action could cause an Option to fail to
satisfy the conditions of an applicable exception from the requirements of
Section 409A (as defined below) or otherwise could subject a Participant
to the additional tax imposed under Section 409A in respect of an
outstanding Stock Award..

          Section
10. Listing and Qualification of Shares. The Plan, the grant of Stock
Awards, the grant and exercise of Options thereunder, and the obligation of the
Corporation to sell and deliver shares under such Stock Awards and Options,
shall be subject to all applicable federal and state laws, rules and
regulations and to such approvals by any government or regulatory agency as may
be required. The Corporation, in its discretion, may postpone the issuance or
delivery of shares upon any grant of a Stock Award or exercise of an
Option until completion of any stock exchange listing, or other qualification
of such shares under any state or federal law, rule or regulation as the
Corporation may consider appropriate, and may require any Participant,
beneficiary or legal representative to make such representations and furnish
such information as it may consider appropriate in connection with the issuance
or delivery of the shares in compliance with applicable laws, rules and
regulations.

          Section
11. Taxes. The Corporation may make such provisions and take such steps as it may deem necessary or appropriate for
the withholding of all federal, state, local and other taxes required by law to be withheld with respect to
Options and Stock Awards granted under the Plan including, but not limited to (a) reducing the number of shares
of Common Stock otherwise deliverable to permit deduction of the amount of any such withholding taxes from the
amount otherwise payable under the Plan, (b) deducting the amount of any such withholding taxes from any other
amount then or thereafter payable to a Participant, or (c) requiring a Participant, beneficiary or legal
representative to pay in cash to the Corporation the amount required to be withheld or to execute such documents
as the Corporation deems necessary or desirable to enable it to satisfy its withholding obligations as a
condition of releasing the Common Stock. The Plan is intended and shall be construed to comply with Section 409A
of the Code, including any amendments or successor provisions to that Section any regulations and other
administrative guidance thereunder, in each case as they, from time to time, may be amended or interpreted
through further administrative guidance (collectively, “Section 409A”). In this regard, and without limiting the
previous sentence, any election made with respect to Sections 6(a), 6(c) and 8(b) shall be conformed to the
requirements of Section 409A to the extent applicable.

          Section
12. No Liability of Board Members. No member of the Board shall be
personally liable by reason of any contract or other instrument executed by
such member or on his behalf in his/her capacity as a member of the Board or
the Administrator nor for any mistake of judgment made in good faith, and the
Corporation shall indemnify and hold harmless to the fullest extent permitted
by the Corporation’s

-6-

Restated Certificate of
Incorporation and By-Laws and Delaware General Corporation Law, each employee,
officer or director of the Corporation to whom any duty or power relating to
the administration or interpretation of the Plan may be allocated or delegated,
against any cost or expense (including counsel fees) or liability (including
any sum paid in settlement of a claim with the approval of the Board) arising
out of any act or omission to act in connection with the Plan.

          Section
13. Amendment or Termination. The Board may, with prospective or
retroactive effect, amend, suspend or terminate the Plan or any portion thereof
at any time; provided, however, that no amendment, suspension or
termination of the Plan shall deprive any Participant of any right with respect
to any Stock Award or Option granted under the Plan without his written
consent; and provided, further, that unless duly approved by the holders
of stock entitled to vote thereon at a meeting (which may be the annual
meeting) duly called and held for such purpose, except as provided in
Section 9, no amendment or change shall be made in the Plan
(i) increasing the total number of shares which may be issued or
transferred under the Plan; (ii) changing the exercise price specified for the
shares subject to Options; (iii) changing the maximum period during which
Options may be exercised; (iv) extending the period during which Options
or Stock Awards may be granted under the Plan; or (v) expanding the class
of individuals eligible to receive Stock Awards or Options under the Plan.

          Section
14. Captions. The captions preceding the sections of the Plan have been
inserted solely as a matter of convenience and shall not in any manner define
or limit the scope or intent of any provisions of the Plan.

          Section
15. Governing Law. The Plan and all rights thereunder shall be governed
by and construed in accordance with the laws of the State of Delaware
applicable to contracts made and to be performed entirely within such State.

          Section
16. Effective Date and Duration of Plan. The Plan shall become effective
as of the Effective Date. This Plan shall terminate on the tenth anniversary of
the Effective Date, and no Stock Awards or Option may be granted under the Plan
after such date, but such termination shall not affect any Stock Award or Option
previously granted.

-7-

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