Document:

Exhibit 4.8

 

Medifirst
Solutions, Inc.

2017
EQUITY INCENTIVE PLAN

 

 

 

This
Medifirst Solutions, Inc. 2017 EQUITY Incentive Plan (the
"Plan") is designed to retain directors, executives and selected employees and consultants and reward them for
making contributions to the success of the Company.  These objectives are accomplished by making long-term incentive
awards under the Plan thereby providing Participants with a proprietary interest in the growth and performance of the Company.

 

	1.	Definitions.

 

	 	(a)	"Board"
    - The Board of Directors of the Company.

 

	 	(b)	"Change in Control"
    - Means, and shall be deemed to have occurred upon the occurrence of, any one of the following events:

 

	 	(i)	The acquisition in one
    transaction by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a
    "Person") of beneficial ownership (within the meaning of Rule l3d-3 promulgated under the Exchange Act) of
    shares or other securities (as defined in Section 3(a)(10) of the Exchange Act) representing 51% or more of outstanding Stock
    of the Company; provided, however, that a Change in Control as defined in this clause (i) shall not be deemed
    to occur in connection with any acquisition by the Company, an employee benefit plan of the Company or any Person who immediately
    prior to the effective date of this Plan is a holder of Stock (a "Current Stockholder") so long as such acquisition
    does not result in any Person other than the Company, such employee benefit plan or such Current Stockholder beneficially
    owning shares or securities representing 51% or more of the outstanding; or

 

	 	(ii)	Any election has occurred
    of persons as directors of the Company that causes two-thirds or more of the Board to consist of persons other than (i) persons
    who were members of the Board on the effective date of this Plan and (ii) persons who were nominated by the Board for election
    as members of the Board at a time when at least two-thirds of the Board consisted of persons who were members of the Board
    on the effective date of this Plan; provided, however, that any person nominated for election by the Board when
    at least two-thirds of the members of the Board are persons described in subclause (i) or (ii) and persons who were themselves
    previously nominated in accordance with this clause (2) shall, for this purpose, be deemed to have been nominated by a Board
    composed of persons described in subclause (ii) and that a Change in Control as defined in this clause (ii) shall not apply
    to a Board consisting of less than three members; or

 

	 	(iii)	Approval by the stockholders
    of the Company of a reorganization, merger, consolidation or similar transaction (a "Reorganization Transaction"),
    in each case, unless, immediately following such Reorganization Transaction, more than 50% of, respectively, the outstanding
    shares of common stock (or similar equity security) of the corporation or other entity resulting from or surviving such Reorganization
    Transaction and the combined voting power of the securities of such corporation or other entity entitled to vote generally
    in the election of directors, is then beneficially owned, directly or indirectly, by the individuals and entities who were
    the respective beneficial owners of the outstanding Stock immediately prior to such Reorganization Transaction in substantially
    the same proportions as their ownership of the outstanding Stock immediately prior to such Reorganization Transaction; or

 

	 	(iv)	Approval by the stockholders
    of the Company of (i) a complete liquidation or dissolution of the Company or (ii) the sale or other disposition of all or
    substantially all of the assets of the Company to a corporation or other entity, unless, with respect to such corporation
    or other entity, immediately following such sale or other disposition more than 50% of, respectively, the outstanding shares
    of common stock (or similar equity security) of such corporation or other entity and the combined voting power of the securities
    of such corporation or other entity entitled to vote generally in the election of directors, is then beneficially owned, directly
    or indirectly, by the individuals and entities who were the respective beneficial owners of the outstanding Stock immediately
    prior to such sale or disposition in substantially the same proportions as their ownership of the outstanding Stock immediately
    prior to such sale or disposition.

 

	 	(c)	"Code"
    - The Internal Revenue Code of 1986, as amended from time to time.

 

	 	(d)	"Company"
    - Medifirst Solutions, Inc. and its subsidiaries including subsidiaries of subsidiaries.

 

	 	(e)	"Exchange Act"
    - The Securities Exchange Act of 1934, as amended from time to time.

 

	 	(f)	"Fair Market
    Value" - The fair market value of the Company's issued and outstanding Stock as determined in good faith by the Board.

 

	 	(g)	"Grant"
    - The grant of any form of stock option, stock award, or stock purchase offer, whether granted singly, in combination, or
    in tandem, to a Participant pursuant to such terms, conditions and limitations as the Board may establish in order to fulfill
    the objectives of the Plan.

 

     

     

    

 

	 	(h)	"Grant Agreement"
    - An agreement between the Company and a Participant that sets forth the terms, conditions and limitations applicable to a
    Grant.

 

	 	(i)	"Option"
    - Either an Incentive Stock Option, in accordance with Section 422 of Code, or a Nonstatutory Option, to purchase the Company's
    Stock that may be awarded to a Participant under the Plan. A Participant who receives an award of an Option shall be referred
    to as an "Optionee."

 

	 	(j)	"Participant"
    - A director, officer, employee or consultant of the Company to whom an Award has been made under the Plan.

 

	 	(k)	"Restricted
    Stock Purchase Offer" - A Grant of the right to purchase a specified number of shares of Stock pursuant to a written
    agreement issued under the Plan.

 

	 	(l)	"Securities
    Act" - The Securities Act of 1933, as amended from time to time.

 

	 	(m)	"Stock"
    - Authorized and issued or unissued shares of common stock of the Company.

 

	 	(n)	"Stock Award"
    - A Grant made under the Plan in stock or denominated in units of stock for which the Participant is not obligated to pay
    additional consideration.

 

	2.	Administration. The
    Plan shall be administered by the Board, provided, however, that the Board may delegate such administration
    to any committee of the Board it shall designate. Subject to the provisions of the Plan, the Board shall have authority to
    (a) grant, in its discretion, Incentive Stock Options in accordance with Section 422 of the Code, or Nonstatutory Options,
    Stock Awards or Restricted Stock Purchase Offers; (b) determine in good faith the fair market value of the Stock covered by
    any Grant; (c) determine which eligible persons shall receive Grants and the number of shares, restrictions, terms and conditions
    to be included in such Grants; (d) construe and interpret the Plan; (e) promulgate, amend and rescind rules and regulations
    relating to its administration, and correct defects, omissions and inconsistencies in the Plan or any Grant; (f) consistent
    with the Plan and with the consent of the Participant, as appropriate, amend any outstanding Grant or amend the exercise date
    or dates thereof; (g) determine the duration and purpose of leaves of absence which may be granted to Participants without
    constituting termination of their employment for the purpose of the Plan or any Grant; and (h) make all other determinations
    necessary or advisable for the Plan's administration. The interpretation and construction by the Board of any provisions of
    the Plan or selection of Participants shall be conclusive and final. No member of the Board shall be liable for any action
    or determination made in good faith with respect to the Plan or any Grant made thereunder.

 

	3.	Eligibility.

 

	 	(a)	General:  The
    persons who shall be eligible to receive Grants shall be directors, officers, employees or consultants to the Company. The
    term consultant shall mean any person, other than an employee, who is engaged by the Company to render services and is compensated
    for such services. An Optionee may hold more than one Option. Any issuance of a Grant to an officer or director of the Company
    subsequent to the first registration of any of the securities of the Company under the Exchange Act shall comply with the
    requirements of Rule 16b-3.

 

	 	(b)	Incentive
    Stock Options:  Subject to shareholder approval of the Plan, Incentive Stock Options may only be issued to employees
    of the Company. Incentive Stock Options may be granted to officers or directors, provided they are also employees of the Company.
    Payment of a director's fee shall not be sufficient to constitute employment by the Company.

 

The Company shall not
grant an Incentive Stock Option under the Plan to any employee if such Grant would result in such employee holding the right to
exercise for the first time in any one calendar year, under all Incentive Stock Options granted under the Plan or any other plan
maintained by the Company, with respect to shares of Stock having an aggregate fair market value, determined as of the date the
Option is granted, in excess of $100,000. Should it be determined that an Incentive Stock Option granted under the Plan exceeds
such maximum for any reason other than a failure in good faith to value the Stock subject to such option, the excess portion of
such option shall be considered a Nonstatutory Option. To the extent the employee holds two (2) or more such Options which become
exercisable for the first time in the same calendar year, the foregoing limitation on the exercisability of such Option as Incentive
Stock Options under the Federal tax laws shall be applied on the basis of the order in which such Options are granted. If, for
any reason, an entire Option does not qualify as an Incentive Stock Option by reason of exceeding such maximum, such Option shall
be considered a Nonstatutory Option.

 

	 	(c)	Nonstatutory
    Option:  The provisions of the foregoing Section 3(b) shall not apply to any Option designated as a "Nonstatutory
    Option" or which sets forth the intention of the parties that the Option be a Nonstatutory Option.

 

	 	(d)	Stock
    Awards and Restricted Stock Purchase Offers:  The provisions of this Section 3 shall not apply to any Stock
    Award or Restricted Stock Purchase Offer under the Plan.

 

    	 	1	 

     

    

 

	4.	Stock.

 

	 	(a)	Authorized
    Stock: Stock subject to Grants may be either unissued or reacquired Stock.

 

	 	(b)	Number
    of Shares:  Subject to adjustment as provided in Section 5(i) of the Plan, the total number of shares of Stock
    which may be purchased or granted directly by Options, Stock Awards or Restricted Stock Purchase Offers, or purchased indirectly
    through exercise of Options granted under the Plan shall not exceed One-Hundred-Twenty-Five Million (125,000,000).  If
    any Grant shall for any reason terminate or expire, any shares allocated thereto but remaining unpurchased upon such expiration
    or termination shall again be available for Grants with respect thereto under the Plan as though no Grant had previously occurred
    with respect to such shares. Any shares of Stock issued pursuant to a Grant and repurchased pursuant to the terms thereof
    shall be available for future Grants as though not previously covered by a Grant.

 

	 	(c)	Reservation
    of Shares:  The Company shall reserve and keep available at all times during the term of the Plan such number
    of shares as shall be sufficient to satisfy the requirements of the Plan. If, after reasonable efforts, which efforts shall
    not include the registration of the Plan or Grants under the Securities Act, the Company is unable to obtain authority from
    any applicable regulatory body, which authorization is deemed necessary by legal counsel for the Company for the lawful issuance
    of shares hereunder, the Company shall be relieved of any liability with respect to its failure to issue and sell the shares
    for which such requisite authority was so deemed necessary unless and until such authority is obtained.

 

	 	(d)	Application
    of Funds: The proceeds received by the Company from the sale of Stock pursuant to the exercise of Options or rights under
    Stock Purchase Agreements will be used for general corporate purposes.

 

	 	(e)	No
    Obligation to Exercise:  The issuance of a Grant shall impose no obligation upon the Participant to exercise
    any rights under such Grant.

 

	5.	Terms and Conditions
    of Options.

 

Options
granted hereunder shall be evidenced by agreements between the Company and the respective Optionees, in such form and substance
as the Board shall from time to time approve. Option agreements need not be identical, and in each case may include such provisions
as the Board may determine, but all such agreements shall be subject to and limited by the following terms and conditions:

 

	 	(a)	Number
    of Shares: Each Option shall state the number of shares to which it pertains.

 

	 	(b)	Exercise
    Price: Each Incentive Stock Option shall state the exercise price, which shall be determined as follows:

 

	 	(i)	Any Incentive Stock
    Option granted to a person who at the time the Option is granted owns (or is deemed to own pursuant to Section 424(d) of the
    Code) stock possessing more than ten percent (10%) of the total combined voting power or value of all classes of stock of
    the Company ("Ten Percent Holder") shall have an exercise price of no less than 110% of the Fair Market Value
    of the Stock as of the date of grant; and

 

	 	(ii)	Incentive Stock Options
    granted to a person who at the time the Option is granted is not a Ten Percent Holder shall have an exercise price of no less
    than 100% of the Fair Market Value of the Stock as of the date of grant.

 

For
the purposes of this Section 5(b), the Fair Market Value shall be as determined by the Board in good faith, which determination
shall be conclusive and binding; provided however, that if there is a public market for such Stock, the Fair Market Value per
share shall be the average of the bid and asked prices on the date of grant of the Option, or if listed on a stock exchange, the
closing price on such exchange on such date of grant.

 

The
exercise price of each Nonstatutory Stock Option shall be determined at the discretion of the Board of Directors of the Corporation.

  

	 	(c)	Medium
    and Time of Payment:  The exercise price shall become immediately due upon exercise of the Option and shall
    be paid in cash or check made payable to the Company. Should the Company's outstanding Stock be registered under Section 12(g)
    of the Exchange Act at the time the Option is exercised, then the exercise price may also be paid as follows:

 

	 	(i)	in shares of Stock held
    by the Optionee for the requisite period necessary to avoid a charge to the Company's earnings for financial reporting purposes
    and valued at Fair Market Value on the exercise date, or

 

	 	(ii)	through a special sale
    and remittance procedure pursuant to which the Optionee shall concurrently provide irrevocable written instructions (a) to
    a Company designated brokerage firm to effect the immediate sale of the purchased shares and remit to the Company, out of
    the sale proceeds available on the settlement date, sufficient funds to cover the aggregate exercise price payable for the
    purchased shares plus all applicable Federal, state and local income and employment taxes required to be withheld by the Company
    by reason of such purchase and (b) to the Company to deliver the certificates for the purchased shares directly to such brokerage
    firm in order to complete the sale transaction.

 

    	 	2	 

     

    

 

At
the discretion of the Board, exercisable either at the time of Option grant or of Option exercise, the exercise price may also
be paid (i) by Optionee's delivery of a promissory note in form and substance satisfactory to the Company and permissible under
applicable securities rules and bearing interest at a rate determined by the Board in its sole discretion, but in no event less
than the minimum rate of interest required to avoid the imputation of compensation income to the Optionee under the Federal tax
laws, or (ii) in such other form of consideration permitted by the corporations law of the State of Nevada as may be acceptable
to the Board.

 

	 	(d)	Term
    and Exercise of Options:  Any Option granted to an employee of the Company shall become exercisable over a period
    of no longer than five (5) years. In no event shall any Option be exercisable after the expiration of ten (10) years from
    the date it is granted, and no Incentive Stock Option granted to a Ten Percent Holder shall, by its terms, be exercisable
    after the expiration of five (5) years from the date of the Option. Unless otherwise specified by the Board in the resolution
    authorizing such Option, the date of grant of an Option shall be deemed to be the date upon which the Board authorizes the
    granting of such Option.

 

Each
Option shall be exercisable to the nearest whole share, in installments or otherwise, as the respective Option agreements may
provide. During the lifetime of an Optionee, the Option shall be exercisable only by the Optionee and shall not be assignable
or transferable by the Optionee, and no other person shall acquire any rights therein. To the extent not exercised, installments
(if more than one) shall accumulate, but shall be exercisable, in whole or in part, only during the period for exercise as stated
in the Option agreement, whether or not other installments are then exercisable.

 

	 	(e)	Termination
    of Status as Employee, Consultant or Director:  If Optionee's status as an employee shall terminate for any
    reason other than Optionee's disability or death, then Optionee (or if the Optionee shall die after such termination, but
    prior to exercise, Optionee's personal representative or the person entitled to succeed to the Option) shall have the right
    to exercise the portions of any of Optionee's Incentive Stock Options which were exercisable as of the date of such termination,
    in whole or in part, within 90 days after such termination (or, in the event of "termination for good cause"
    as that term is defined in case law related thereto, or by the terms of the Plan or the Option Agreement or an employment
    agreement, the Option shall automatically terminate as of the termination of employment as to all shares covered by the Option).

 

With
respect to Nonstatutory Options granted to employees, directors or consultants, the Board may specify such period for exercise,
not less than 90 days (except that in the case of "termination for cause" or removal of a director), the
Option shall automatically terminate as of the termination of employment or services as to shares covered by the Option, following
termination of employment or services as the Board deems reasonable and appropriate. The Option may be exercised only with respect
to installments that the Optionee could have exercised at the date of termination of employment or services. Nothing contained
herein or in any Option granted pursuant hereto shall be construed to affect or restrict in any way the right of the Company to
terminate the employment or services of an Optionee with or without cause.

 

	 	(f)	Disability
    of Optionee:  If an Optionee is disabled (within the meaning of Section 22(e)(3) of the Code) at the time of
    termination, the ninety (90) day period set forth in Section 5(e) shall be a period, as determined by the Board and set forth
    in the Option, of not less than six months nor more than one year after such termination.

 

	 	(g)	Death
    of Optionee:  If an Optionee dies while employed by, engaged as a consultant to, or serving as a Director of
    the Company, the portion of such Optionee's Option which was exercisable at the date of death may be exercised, in whole or
    in part, by the estate of the decedent or by a person succeeding to the right to exercise such Option at any time within (i)
    a period, as determined by the Board and set forth in the Option, of not less than six (6) months nor more than one (1) year
    after Optionee's death, which period shall not be more, in the case of a Nonstatutory Option, than the period for exercise
    following termination of employment or services, or (ii) during the remaining term of the Option, whichever is the lesser.
    The Option may be so exercised only with respect to installments exercisable at the time of Optionee's death and not previously
    exercised by the Optionee.

 

	 	(h)	Nontransferability
    of Option:  No Option shall be transferable by the Optionee, except by will or by the laws of descent and distribution.

 

	 	(i)	Recapitalization:  Subject
    to any required action of shareholders, the number of shares of Stock covered by each outstanding Option, and the exercise
    price per share thereof set forth in each such Option, shall be proportionately adjusted for any increase or decrease in the
    number of issued shares of Stock of the Company resulting from a stock split, stock dividend, combination, subdivision or
    reclassification of shares, or the payment of a stock dividend, or any other increase or decrease in the number of such shares
    affected without receipt of consideration by the Company; provided, however, the conversion of any convertible securities
    of the Company shall not be deemed to have been "effected without receipt of consideration" by the
    Company.

 

    	 	3	 

     

    

 

In
the event of a proposed dissolution or liquidation of the Company, a merger or consolidation in which the Company is not the surviving
entity, or a sale of all or substantially all of the assets or capital stock of the Company (collectively, a "Reorganization"),
unless otherwise provided by the Board, this Option shall terminate immediately prior to such date as is determined by the Board,
which date shall be no later than the consummation of such Reorganization.  In such event, if the entity which shall
be the surviving entity does not tender to Optionee an offer, for which it has no obligation to do so, to substitute for any unexercised
Option a stock option or capital stock of such surviving entity, as applicable, which on an equitable basis shall provide the
Optionee with substantially the same economic benefit as such unexercised Option, then the Board may grant to such Optionee, in
its sole and absolute discretion and without obligation, the right for a period commencing thirty (30) days prior to and ending
immediately prior to the date determined by the Board pursuant hereto for termination of the Option or during the remaining term
of the Option, whichever is the lesser, to exercise any unexpired Option or Options without regard to the installment provisions
of Paragraph 6(d) of the Plan; provided, that any such right granted shall be granted to all Optionees not receiving an offer
to receive substitute options on a consistent basis, and provided further, that any such exercise shall be subject to the consummation
of such Reorganization.

 

Subject
to any required action of shareholders, if the Company shall be the surviving entity in any merger or consolidation, each outstanding
Option thereafter shall pertain to and apply to the securities to which a holder of shares of Stock equal to the shares subject
to the Option would have been entitled by reason of such merger or consolidation.

 

In
the event of a change in the Stock of the Company as presently constituted, which is limited to a change of all of its authorized
shares without par value into the same number of shares with a par value, the shares resulting from any such change shall be deemed
to be the Stock within the meaning of the Plan.

 

To
the extent that the foregoing adjustments relate to stock or securities of the Company, such adjustments shall be made by the
Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided in this Section
5(i), the Optionee shall have no rights by reason of any subdivision or consolidation of shares of stock of any class or the payment
of any stock dividend or any other increase or decrease in the number of shares of stock of any class, and the number or price
of shares of Stock subject to any Option shall not be affected by, and no adjustment shall be made by reason of, any dissolution,
liquidation, merger, consolidation or sale of assets or capital stock, or any issue by the Company of shares of stock of any class
or securities convertible into shares of stock of any class.

 

The
Grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Company to make any adjustments,
reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve, or liquidate
or to sell or transfer all or any part of its business or assets.

 

	 	(j)	Rights
    as a Shareholder:  An Optionee shall have no rights as a shareholder with respect to any shares covered by an
    Option until the effective date of the issuance of the shares following exercise of such Option by Optionee. No adjustment
    shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property) or distributions or
    other rights for which the record date is prior to the date such stock certificate is issued, except as expressly provided
    in Section 5(i) hereof.

 

	 	(k)	Modification,
    Acceleration, Extension, and Renewal of Options:  Subject to the terms and conditions and within the limitations
    of the Plan, the Board may modify an Option, or, once an Option is exercisable, accelerate the rate at which it may be exercised,
    and may extend or renew outstanding Options granted under the Plan or accept the surrender of outstanding Options (to the
    extent not theretofore exercised) and authorize the granting of new Options in substitution for such Options, provided such
    action is permissible under Section 422 of the Code and applicable state securities laws. Notwithstanding the provisions of
    this Section 5(k), however, no modification of an Option shall, without the consent of the Optionee, alter to the Optionee's
    detriment or impair any rights or obligations under any Option theretofore granted under the Plan.

 

	 	(l)	Exercise
    Before Exercise Date:  At the discretion of the Board, the Option may, but need not, include a provision whereby
    the Optionee may elect to exercise all or any portion of the Option prior to the stated exercise date of the Option or any
    installment thereof. Any shares so purchased prior to the stated exercise date shall be subject to repurchase by the Company
    upon termination of Optionee's employment as contemplated by Section 5(n) hereof prior to the exercise date stated in the
    Option and such other restrictions and conditions as the Board may deem advisable.

  

	 	(m)	Other
    Provisions:  The Option agreements authorized under the Plan shall contain such other provisions, including,
    without limitation, restrictions upon the exercise of the Options, as the Board shall deem advisable. Shares shall not be
    issued pursuant to the exercise of an Option, if the exercise of such Option or the issuance of shares thereunder would violate,
    in the opinion of legal counsel for the Company, the provisions of any applicable law or the rules or regulations of any applicable
    governmental or administrative agency or body, such as the Code, the Securities Act, the Exchange Act, applicable state securities
    laws, corporation law of the State of Nevada, and the rules promulgated under the foregoing or the rules and regulations of
    any exchange upon which the shares of the Company are listed. Without limiting the generality of the foregoing, the exercise
    of each Option shall be subject to the condition that if at any time the Company shall determine that (i) the satisfaction
    of withholding tax or other similar liabilities, or (ii) the listing, registration or qualification of any shares covered
    by such exercise upon any securities exchange or under any state or federal law, or (iii) the consent or approval of any regulatory
    body, or (iv) the perfection of any exemption from any such withholding, listing, registration, qualification, consent or
    approval is necessary or desirable in connection with such exercise or the issuance of shares thereunder, then in any such
    event, such exercise shall not be effective unless such withholding, listing registration, qualification, consent, approval
    or exemption shall have been effected, obtained or perfected free of any conditions not acceptable to the Company.

 

    	 	4	 

     

    

 

	 	(n)	Repurchase
    Agreement:  The Board may, in its discretion, require as a condition to the Grant of an Option hereunder, that
    an Optionee execute an agreement with the Company, in form and substance satisfactory to the Board in its discretion ("Repurchase
    Agreement"), (i) restricting the Optionee's right to transfer shares purchased under such Option without first offering
    such shares to the Company or another shareholder of the Company upon the same terms and conditions as provided therein; and
    (ii) providing that upon termination of Optionee's employment with the Company, for any reason, the Company (or another shareholder
    of the Company, as provided in the Repurchase Agreement) shall have the right at its discretion (or the discretion of such
    other shareholders) to purchase and/or redeem all such shares owned by the Optionee on the date of termination of his or her
    employment at a price equal to: (A) the fair value of such shares as of such date of termination; or (B) if such repurchase
    right lapses at 20% of the number of shares per year, the original purchase price of such shares, and upon terms of payment
    permissible under the applicable state securities laws; provided that in the case of Options or Stock Awards granted to officers,
    directors, consultants or affiliates of the Company, such repurchase provisions may be subject to additional or greater restrictions
    as determined by the Board.

 

	6.	Stock Awards and Restricted
    Stock Purchase Offers.

 

	 	(a)	Types
    of Grants.

 

	 	(i)	Stock
    Award.  All or part of any Stock Award under the Plan may be subject to conditions established by the Board,
    and set forth in the Stock Award Agreement, which may include, but are not limited to, continuous service with the Company,
    achievement of specific business objectives, increases in specified indices, attaining growth rates and other comparable measurements
    of Company performance. Such Awards may be based on Fair Market Value or other specified valuation.

 

	 	(ii)	Restricted
    Stock Purchase Offer.  A Grant of a Restricted Stock Purchase Offer under the Plan shall be subject to such
    (i) vesting contingencies related to the Participant's continued association with the Company for a specified time and (ii)
    other specified conditions as the Board shall determine, in their sole discretion, consistent with the provisions of the Plan.

 

	 	(b)	Conditions
    and Restrictions.  Shares of Stock which Participants may receive as a Stock Award under a Stock Award Agreement
    or Restricted Stock Purchase Offer under a Restricted Stock Purchase Offer may include such restrictions as the Board, as
    applicable, shall determine, including restrictions on transfer, repurchase rights, right of first refusal, and forfeiture
    provisions. When transfer of Stock is so restricted or subject to forfeiture provisions it is referred to as "Restricted
    Stock". Further, with Board approval, Stock Awards or Restricted Stock Purchase Offers may be deferred, either in
    the form of installments or a future lump sum distribution. The Board may permit selected Participants to elect to defer distributions
    of Stock Awards or Restricted Stock Purchase Offers in accordance with procedures established by the Board to assure that
    such deferrals comply with applicable requirements of the Code including, at the choice of Participants, the capability to
    make further deferrals for distribution after retirement. Any deferred distribution, whether elected by the Participant or
    specified by the Stock Award Agreement, Restricted Stock Purchase Offers or by the Board, may require the payment be forfeited
    in accordance with the provisions of Section 6(c). Dividends or dividend equivalent rights may be extended to and made part
    of any Stock Award or Restricted Stock Purchase Offers denominated in Stock or units of Stock, subject to such terms, conditions
    and restrictions as the Board may establish.

 

	 	(c)	Cancellation
    and Rescission of Grants.  Unless the Stock Award Agreement or Restricted Stock Purchase Offer specifies otherwise,
    the Board, as applicable, may cancel any unexpired, unpaid, or deferred Grants at any time if the Participant is not in compliance
    with all other applicable provisions of the Stock Award Agreement or Restricted Stock Purchase Offer, the Plan and with the
    following conditions:

 

	 	(i)	A Participant shall
    not render services for any organization or engage directly or indirectly in any business which, in the judgment of the chief
    executive officer of the Company or other senior officer designated by the Board, is or becomes competitive with the Company,
    or which organization or business, or the rendering of services to such organization or business, is or becomes otherwise
    prejudicial to or in conflict with the interests of the Company. For Participants whose employment has terminated, the judgment
    of the chief executive officer shall be based on the Participant's position and responsibilities while employed by the Company,
    the Participant's post-employment responsibilities and position with the other organization or business, the extent of past,
    current and potential competition or conflict between the Company and the other organization or business, the effect on the
    Company's customers, suppliers and competitors and such other considerations as are deemed relevant given the applicable facts
    and circumstances.  A Participant who has retired shall be free, however, to purchase as an investment or otherwise,
    stock or other securities of such organization or business so long as they are listed upon a recognized securities exchange
    or traded over-the-counter, and such investment does not represent a substantial investment to the Participant or a greater
    than ten percent (10%) equity interest in the organization or business.

 

	 	(ii)	A Participant shall
    not, without prior written authorization from the Company, disclose to anyone outside the Company, or use in other than the
    Company's business, any confidential information or material, as defined in the Company's Proprietary Information and Invention
    Agreement or similar agreement regarding confidential information and intellectual property, relating to the business of the
    Company, acquired by the Participant either during or after employment with the Company.

 

	 	(iii)	A Participant shall
    disclose promptly and assign to the Company all right, title and interest in any invention or idea, patentable or not, made
    or conceived by the Participant during employment by the Company, relating in any manner to the actual or anticipated business,
    research or development work of the Company and shall do anything reasonably necessary to enable the Company to secure a patent
    where appropriate in the United States and in foreign countries.

 

    	 	5	 

     

    

 

	 	(iv)	Upon exercise, payment
    or delivery pursuant to a Grant, the Participant shall certify on a form acceptable to the Board that he or she is in compliance
    with the terms and conditions of the Plan. Failure to comply with all of the provisions of this Section 6(c) prior to, or
    during the six months after, any exercise, payment or delivery pursuant to a Grant shall cause such exercise, payment or delivery
    to be rescinded. The Company shall notify the Participant in writing of any such rescission within two years after such exercise,
    payment or delivery. Within ten days after receiving such a notice from the Company, the Participant shall pay to the Company
    the amount of any gain realized or payment received as a result of the rescinded exercise, payment or delivery pursuant to
    a Grant. Such payment shall be made either in cash or by returning to the Company the number of shares of Stock that the Participant
    received in connection with the rescinded exercise, payment or delivery.

 

	 	(d)	Nonassignability.

 

	 	(i)	Except pursuant to Section
    6(e)(iii) and except as set forth in Section 6(d)(ii), no Grant or any other benefit under the Plan shall be assignable or
    transferable, or payable to or exercisable by, anyone other than the Participant to whom it was granted.

 

	 	(ii)	Where a Participant
    terminates employment and retains a Grant pursuant to Section 6(e)(ii) in order to assume a position with a governmental,
    charitable or educational institution, the Board, in its discretion and to the extent permitted by law, may authorize a third
    party (including but not limited to the trustee of a "blind" trust), acceptable to the applicable governmental
    or institutional authorities, the Participant and the Board, to act on behalf of the Participant with regard to such Awards.

 

	 	(e)	Termination
    of Employment.  If the employment or service to the Company of a Participant terminates, other than pursuant
    to any of the following provisions under this Section 6(e), all unexercised, deferred and unpaid Stock Awards or Restricted
    Stock Purchase Offers shall be cancelled immediately, unless the Stock Award Agreement or Restricted Stock Purchase Offer
    provides otherwise:

 

	 	(i)	Retirement
    Under a Company Retirement Plan.  When a Participant's employment terminates as a result of retirement in accordance
    with the terms of a Company retirement plan, the Board may permit Stock Awards or Restricted Stock Purchase Offers to continue
    in effect beyond the date of retirement in accordance with the applicable Grant Agreement and the exercisability and vesting
    of any such Grants may be accelerated.

 

	 	(ii)	Rights
    in the Best Interests of the Company.  When a Participant resigns from the Company and, in the judgment of the
    Board, the acceleration and/or continuation of outstanding Stock Awards or Restricted Stock Purchase Offers would be in the
    best interests of the Company, the Board may (i) authorize, where appropriate, the acceleration and/or continuation of all
    or any part of Grants issued prior to such termination and (ii) permit the exercise, vesting and payment of such Grants for
    such period as may be set forth in the applicable Grant Agreement, subject to earlier cancellation pursuant to Section 9 or
    at such time as the Board shall deem the continuation of all or any part of the Participant's Grants are not in the Company's
    best interest.

 

	 	(iii)	Death
    or Disability of a Participant.

 

	 	(1)	In the event of a Participant's
    death, the Participant's estate or beneficiaries shall have a period up to the expiration date specified in the Grant Agreement
    within which to receive or exercise any outstanding Grant held by the Participant under such terms as may be specified in
    the applicable Grant Agreement. Rights to any such outstanding Grants shall pass by will or the laws of descent and distribution
    in the following order: (a) to beneficiaries so designated by the Participant; if none, then (b) to a legal representative
    of the Participant; if none, then (c) to the persons entitled thereto as determined by a court of competent jurisdiction.
    Grants so passing shall be made at such times and in such manner as if the Participant were living.

 

	 	(2)	In the event a Participant
    is deemed by the Board to be unable to perform his or her usual duties by reason of mental disorder or medical condition which
    does not result from facts which would be grounds for termination for cause, Grants and rights to any such Grants may be paid
    to or exercised by the Participant, if legally competent, or a committee or other legally designated guardian or representative
    if the Participant is legally incompetent by virtue of such disability.

 

	 	(3)	After the death or disability
    of a Participant, the Board may in its sole discretion at any time (1) terminate restrictions in Grant Agreements; (2) accelerate
    any or all installments and rights; and (3) instruct the Company to pay the total of any accelerated payments in a lump sum
    to the Participant, the Participant's estate, beneficiaries or representative; notwithstanding that, in the absence of such
    termination of restrictions or acceleration of payments, any or all of the payments due under the Grant might ultimately have
    become payable to other beneficiaries.

 

	 	(4)	In
    the event of uncertainty as to interpretation of or controversies concerning this Section 6, the determinations of the Board,
    as applicable, shall be binding and conclusive.

 

	7. 	Change in Control. Unless
    otherwise provided in the applicable Grant Agreement, in the event of a Change in Control, 50% of the vesting restrictions
    applicable to each Participant’s Grant(s) shall terminate fully and the Participant shall immediately have the right
    to the delivery of share certificates or exercise of Options, i.e. to the extent that a Participant’s Option(s) are
    unvested, 50% of such unvested portion shall vest.

 

    	 	6	 

     

    

 

	8. 	Investment Intent.  All
    Grants under the Plan are intended to be exempt from registration under the Securities Act provided by Rule 701 thereunder.
    Unless and until the granting of Options or sale and issuance of Stock subject to the Plan are registered under the Securities
    Act or shall be exempt pursuant to the rules promulgated thereunder, each Grant under the Plan shall provide that the purchases
    or other acquisitions of Stock thereunder shall be for investment purposes and not with a view to, or for resale in connection
    with, any distribution thereof. Further, unless the issuance and sale of the Stock have been registered under the Securities
    Act, each Grant shall provide that no shares shall be purchased upon the exercise of the rights under such Grant unless and
    until (i) all then applicable requirements of state and federal laws and regulatory agencies shall have been fully complied
    with to the satisfaction of the Company and its counsel, and (ii) if requested to do so by the Company, the person exercising
    the rights under the Grant shall (A) give written assurances as to knowledge and experience of such person (or a representative
    employed by such person) in financial and business matters and the ability of such person (or representative) to evaluate
    the merits and risks of exercising the Option, and (B) execute and deliver to the Company a letter of investment intent and/or
    such other form related to applicable exemptions from registration, all in such form and substance as the Company may require.
    If shares are issued upon exercise of any rights under a Grant without registration under the Securities Act, subsequent registration
    of such shares shall relieve the purchaser thereof of any investment restrictions or representations made upon the exercise
    of such rights.

 

	9. 	Amendment, Modification,
    Suspension or Discontinuance of the Plan.  The Board may, insofar as permitted by law, from time to time, with respect
    to any shares at the time not subject to outstanding Grants, suspend or terminate the Plan or revise or amend it in any respect
    whatsoever, except that without the approval of the shareholders of the Company, no such revision or amendment shall (i) decrease
    the price at which Grants may be granted, (ii) materially increase the benefits to Participants, or (iii) change the class
    of persons eligible to receive Grants under the Plan; provided, however, no such action shall alter or impair the rights and
    obligations under any Option, or Stock Award, or Restricted Stock Purchase Offer outstanding as of the date thereof without
    the written consent of the Participant thereunder. No Grant may be issued while the Plan is suspended or after it is terminated,
    but the rights and obligations under any Grant issued while the Plan is in effect shall not be impaired by suspension or termination
    of the Plan.

 

In
the event of any change in the outstanding Stock by reason of a stock split, stock dividend, combination or reclassification of
shares, recapitalization, merger, or similar event, the Board may adjust proportionally (a) the number of shares of Stock (i)
reserved under the Plan, (ii) available for Incentive Stock Options and Nonstatutory Options and (iii) covered by outstanding
Stock Awards or Restricted Stock Purchase Offers; (b) the Stock prices related to outstanding Grants; and (c) the appropriate
Fair Market Value and other price determinations for such Grants. In the event of any other change affecting the Stock or any
distribution (other than normal cash dividends) to holders of Stock, such adjustments as may be deemed equitable by the Board,
including adjustments to avoid fractional shares, shall be made to give proper effect to such event. In the event of a corporate
merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation, the Board shall be authorized
to issue or assume stock options, whether or not in a transaction to which Section 424(a) of the Code applies, and other Grants
by means of substitution of new Grant Agreements for previously issued Grants or an assumption of previously issued Grants.

 

	10.	Tax Withholding. The
    Company shall have the right to deduct applicable taxes from any Grant payment and withhold, at the time of delivery or exercise
    of Options, Stock Awards or Restricted Stock Purchase Offers or vesting of shares under such Grants, an appropriate number
    of shares for payment of taxes required by law or to take such other action as may be necessary in the opinion of the Company
    to satisfy all obligations for withholding of such taxes. If Stock is used to satisfy tax withholding, such stock shall be
    valued based on the Fair Market Value when the tax withholding is required to be made.

 

	11.	Availability of Information.
    During the term of the Plan and any additional period during which a Grant granted pursuant to the Plan shall be exercisable,
    the Company shall make available, not later than one hundred and twenty (120) days following the close of each of its fiscal
    years, such financial and other information regarding the Company as is required by the bylaws of the Company and applicable
    law to be furnished in an annual report to the shareholders of the Company.

 

	12.	Notice. Any written
    notice to the Company required by any of the provisions of the Plan shall be addressed to the chief personnel officer or to
    the chief executive officer of the Company, and shall become effective when it is received by the office of the chief personnel
    officer or the chief executive officer.

 

	13.	Indemnification of Board.
    In addition to such other rights or indemnifications as they may have as directors or otherwise, and to the extent allowed
    by applicable law, the members of the Board shall be indemnified by the Company against the reasonable expenses, including
    attorneys' fees, actually and necessarily incurred in connection with the defense of any claim, action, suit or proceeding,
    or in connection with any appeal thereof, to which they or any of them may be a party by reason of any action taken, or failure
    to act, under or in connection with the Plan or any Grant granted thereunder, and against all amounts paid by them in settlement
    thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction
    of a judgment in any such claim, action, suit or proceeding, except in any case in relation to matters as to which it shall
    be adjudged in such claim, action, suit or proceeding that such Board member is liable for negligence or misconduct in the
    performance of his or her duties; provided that within sixty (60) days after institution of any such action, suit or Board
    proceeding the member involved shall offer the Company, in writing, the opportunity, at its own expense, to handle and defend
    the same.

 

	14.	Governing Law. The Plan
    and all determinations made and actions taken pursuant hereto, to the extent not otherwise governed by the Code or the securities
    laws of the United States, shall be governed by the law of the State of Nevada and construed accordingly.

 

	15.	Termination
    Dates. The Plan shall terminate ten years later, subject to earlier termination by the Board pursuant to Section 9.

 

    	 	7	 

     

    

 

The
foregoing Medifirst Solutions, Inc. 2017 Equity Incentive Plan (consisting of 9 pages, including this page) was duly adopted and
approved by the Board of Directors on May 3, 2017.

 

	 	Medifirst
    Solutions, Inc.
	 	 
	 	By:	/s/ Bruce Schoengood
	 	 	Name: Bruce Schoengood
	 	 	Title:   Chief Executive
    Officer

 

 

8EX-10.1

 Exhibit 10.1 

As originally adopted April 22, 2013 

As amended and restated March 15, 2017 

2013 HANNON ARMSTRONG SUSTAINABLE INFRASTRUCTURE CAPITAL, INC. 

EQUITY INCENTIVE PLAN 

Hannon Armstrong Sustainable Infrastructure Capital, Inc., a Maryland corporation, wishes to attract officers, Directors (as defined below),
key employees, consultants, advisers and other personnel to the Company and its Subsidiaries and induce officers, Directors, key employees, consultants, advisers and other personnel to remain with the Company and its Subsidiaries, and encourage them
to increase their efforts to make the Company’s business more successful whether directly or through its Subsidiaries. In furtherance thereof, the Hannon Armstrong Sustainable Infrastructure Capital, Inc. Equity Incentive Plan is designed to
provide equity-based incentives to Eligible Persons. Awards under the Plan may be made to Eligible Persons in the form of Options, Stock Appreciation Rights, Restricted Stock, Phantom Shares, Dividend Equivalent Rights, LTIP Units, other restricted
limited partnership units and other forms of equity-based compensation. 
  

	1.	DEFINITIONS 

 Whenever used herein, the following terms shall have the meanings set forth
below: 
 “Affiliate” means any entity other than a Subsidiary that is controlled by or under common control with the
Company that is designated as an “Affiliate” by the Committee in its discretion. 
 “Award,” except where
referring to a particular category of grant under the Plan, shall include Incentive Stock Options, Non-Qualified Stock Options, Stock Appreciation Rights, Restricted Stock, Phantom Shares, Dividend Equivalent
Rights, LTIP Units, other restricted limited partnership units and other equity-based Awards as contemplated herein. 
 “Award
Agreement” means a written agreement in a form approved by the Committee to be entered into between the Company and the Grantee as provided in Section 3. 

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

“Cause” means, unless otherwise provided in the Grantee’s Award Agreement or employment agreement, (i) engaging in
(A) willful or gross misconduct or (B) willful or gross neglect, (ii) failing to adhere to the directions of superiors or the Board or the written policies and practices of the Company or its Subsidiaries or its Affiliates,
(iii) the commission of a felony or a crime of moral turpitude, dishonesty, breach of trust or unethical business conduct, or any crime involving the Company or its Subsidiaries, or any Affiliate thereof, (iv) fraud, misappropriation or
embezzlement of the Company’s or any Subsidiary’s funds or other assets or other acts deemed by the Committee in the good faith exercise of its sole discretion to be an act of dishonesty in respect to the Company or any Subsidiary,
(v) material violation of any statutory or common law duty of loyalty to the Company or any Subsidiary, (vi) a material breach of the Grantee’s employment agreement (if any) with the Company or its Subsidiaries or its Affiliates
(subject to any cure period therein provided), (vii) willfully refusing to perform or substantially disregarding the duties properly assigned to the Grantee by the Company (other than as a result of Disability), or (viii) any significant
activities materially harmful to the reputation of the Company or its Subsidiaries or its Affiliates. 

  
 1 

 “Change in Control” means, unless otherwise provided in an Award Agreement, the
happening of any of the following: 
  

	 	(i)	any “person,” including a “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act, but excluding the Company, any entity controlling, controlled by or under common control
with the Company, any trustee, fiduciary or other person or entity holding securities under any employee benefit plan or trust of the Company or any such entity, and with respect to any particular Grantee, the Grantee and any “group” (as
such term is used in Section 13(d)(3) of the Exchange Act) of which the Grantee is a member, is or becomes the “beneficial owner” (as defined in Rule 13(d)(3) under the Exchange Act), directly or indirectly, of securities of the Company
representing 50% or more of either (A) the combined voting power of the Company’s then outstanding securities or (B) the then outstanding Shares (in either such case other than as a result of an acquisition of securities directly from
the Company); provided, however, that, in no event shall a Change in Control be deemed to have occurred upon an IPO of the Common Stock under the Securities Act or any of the transactions contemplated to occur concurrently therewith; or

  

	 	(ii)	any consolidation, merger or statutory share exchange of the Company where the stockholders of the Company, immediately prior to the consolidation, merger or statutory share exchange, would not, immediately after the
consolidation, merger or statutory share exchange, beneficially own (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, shares representing in the aggregate 50% or more of
the combined voting power of the securities of the corporation issuing cash or securities in the consolidation, merger or statutory share exchange (or of its ultimate parent corporation, if any); or 

 

	 	(iii)	there shall occur (A) any sale, lease, exchange or other transfer (in one transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of
the Company, other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by “persons” (as
defined above) in substantially the same proportion as their ownership of the Company immediately prior to such sale or (B) the approval by stockholders of the Company of any plan or proposal for the liquidation or dissolution of the Company;
or 

  

	 	(iv)	the members of the Board at the beginning of any consecutive 24 calendar month period (the “Incumbent Directors”) cease for any reason other than due to death or Disability to constitute at least a
majority of the members of the Board; provided that any Director whose election, or nomination for election by the Company’s stockholders, was approved or ratified by a vote of at least a majority of the members of the Board then still in
office who were members of the Board at the beginning of such 24 calendar month period shall be deemed to be an Incumbent Director. 

Notwithstanding the foregoing, no event or condition shall constitute a Change in Control to the extent that, if it were, a 20% tax would be imposed upon or
with respect to any Award under Section 409A of the Code; provided that, in such a case, the event or condition shall continue to constitute a Change in Control to the maximum extent possible (e.g., if applicable, in respect of vesting without an
acceleration of distribution) without causing the imposition of such 20% tax. 

  
 2 

 “Code” means the Internal Revenue Code of 1986, as amended, and the rules and
regulations promulgated thereunder. 
 “Committee” means the compensation committee appointed by the Board under
Section 3 and if no compensation committee has been appointed, then Committee shall refer to the Board. 

“Common Stock” means the Company’s common stock, par value $.01 per share, either currently existing or authorized
hereafter. 
 “Company” means Hannon Armstrong Sustainable Infrastructure Capital, Inc., a Maryland corporation. 

“Director” means a non-employee director of the Company or its Subsidiaries. 

“Disability” means, the occurrence of an event which would entitle an employee of the Company to the payment of disability
income under one of the Company’s approved long-term disability income plans or, in the absence of such a plan, unless otherwise provided by the Committee in the Grantee’s employment agreement or Award Agreement, a disability which renders
the Grantee incapable of performing all of his or her material duties for a period of at least 180 consecutive or non-consecutive days during any consecutive twelve-month period. Notwithstanding the foregoing,
no circumstances or condition shall constitute a Disability to the extent that, if it were, a 20% tax would be imposed upon or with respect to any Award under Section 409A of the Code; provided that, in such a case, the event or condition shall
continue to constitute a Disability to the maximum extent possible (e.g., if applicable, in respect of vesting without an acceleration of distribution) without causing the imposition of such 20% tax. 

“Dividend Equivalent Right” means a right awarded under Section 8 of the Plan to receive (or have
credited) the equivalent value of dividends paid on Common Stock. 
 “Effective Date” means April 23, 2013. 

“Eligible Person” means an officer, Director, key employee, consultant or adviser of the Company or its Subsidiaries or other
person expected to provide significant services (of a type expressly approved by the Committee as covered services for these purposes) to the Company or its Subsidiaries. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “Fair Market Value” per Share as of a particular date means (i) if Shares are then listed on a national securities
exchange or quoted or reported on a national quotation system, the closing sales price per Share on the exchange or system for the applicable date or, if there are no sales on such date, for the last preceding date on which there was a sale of
Shares on such exchange or system; (ii) if Shares are not then listed on a national securities exchange or quoted on a national quotation system but are then traded on an
over-the-counter market, the average of the closing bid and asked prices for the Shares in such
over-the-counter market for the date in question, or, if there are no bid and asked prices on such date, for the last preceding date on which there was a sale of such
Shares in such market; or (iii) if Shares are not then listed on a national securities exchange, quoted on a national quotation system or traded on an
over-the-counter market, such value as the Committee in its discretion may in good faith determine; provided that, where the Shares are so listed or traded, the
Committee may make such discretionary determinations where the Shares have not been traded for 10 trading days. Notwithstanding the foregoing, with respect to any “stock right” within the meaning of Section 409A of the Code, Fair Market
Value shall not be less than the “fair market value” of the shares of Common Stock determined in accordance with the final regulations promulgated under Section 409A of the Code. 

  
 3 

 “Grantee” means an Eligible Person to whom an Award is granted hereunder. 

“IPO” means the consummation of the first fully underwritten, firm commitment public offering pursuant to an effective
registration statement under the Securities Act covering the offer and sale by the Company of its Common Stock, or such other event as a result of or following which the Common Stock shall be publicly held. 

“Incentive Stock Option” means an “incentive stock option” within the meaning of Section 422(b) of the Code.

 “LTIP Unit” means a restricted limited partner profits interests in the Partnership. 

“Non-Qualified Stock Option” means an Option which is not an Incentive Stock
Option. 
 “Option” means the right to purchase, at a price and for the term fixed by the Committee in accordance with the
Plan, and subject to such other limitations and restrictions in the Plan and the applicable Award Agreement, a number of Shares determined by the Committee. 

“Option Price” means the price per Share, determined by the Committee, at which an Option may be exercised. 

“OP Units” means units representing limited partnership interests in the Partnership. 

“Partnership” means Hannon Armstrong Sustainable Infrastructure, L.P., a Delaware limited partnership. 

“Performance Goals” have the meaning set forth in Section 10. 

“Performance Period” means any period designated by the Committee for which Performance Criteria (as defined in Exhibit
A) shall be calculated. 
 “Phantom Share” means a right, pursuant to the Plan, of the Grantee to payment of the
Phantom Share Value in accordance with Section 7. 
 “Phantom Share Value,” per Phantom Share,
means the Fair Market Value of a Share or, if so provided by the Committee, such Fair Market Value to the extent in excess of a base value established by the Committee at the time of grant (which base value may not be less than the Fair Market Value
of the underlying Shares at the date of grant). 
 “Plan” means the Company’s 2013 Equity Incentive Plan, as set forth
herein and as the same may from time to time be amended. 
 “REIT” shall mean a real estate investment trust under Sections
856 through 860 of the Code. 
 “REIT Requirements” means the requirements to qualify as a REIT under the Code and the
rules and regulations promulgated thereunder. 
 “Restricted Stock” means an award of Shares that are subject to
restrictions in accordance with Section 6. 

  
 4 

 “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder. 
 “Settlement Date” means the date determined under
Section 7.4(c). 
 “Shares” means shares of Common Stock of the Company. 

“Stock Appreciation Right” means a right described in Section 5.7. 

“Subsidiary” means any corporation (other than the Company), partnership or other entity of which at least 50% of the
economic interest in the equity or voting power is owned (directly or indirectly) by the Company. In the event the Company becomes such a subsidiary of another company (directly or indirectly), the provisions hereof applicable to subsidiaries shall,
unless otherwise determined by the Committee, also be applicable to such parent company. 
 “Termination of Service” means
a Grantee’s termination of employment or other service, as applicable, with the Company, its Subsidiaries and, as applicable, Affiliates. Cessation of service as an officer, Director, key employee, consultant, adviser or other personnel shall
not be treated as a Termination of Service if the Grantee continues without interruption to serve thereafter in another one (or more) of such other capacities. With respect to any Award subject to Section 409A of the Code, Termination of Service
shall be a “separation from service” as interpreted within the meaning of Section 409A of the Code and Treasury Regulation 1.409A-1(h). 

 

	2.	EFFECTIVE DATE AND TERMINATION OF PLAN 

 The effective date of the Plan is April 23,
2013. The Plan shall terminate on, and no Award shall be granted hereunder on or after, the 10-year anniversary of the earlier of the approval of the Plan by (i) the Board or (ii) the stockholders of
the Company; provided, however, that the Board may at any time prior to that date terminate the Plan. 
  

	3.	ADMINISTRATION OF PLAN 

 (a)    The Plan shall be administered by the
Committee. The Committee, upon and after such time as it is covered in Section 16 of the Exchange Act, shall consist of at least two individuals each of whom shall be a “nonemployee director” as defined in Rule 16b-3 as promulgated by the Securities and Exchange Commission (“Rule 16b-3”) under the
Exchange Act and shall, at such times as the Company is subject to Section 162(m) of the Code (to the extent relief from the limitation of Section 162(m) of the Code is sought with respect to Awards), qualify as “outside
directors” for purposes of Section 162(m) of the Code; provided that no action taken by the Committee (including without limitation grants) shall be invalidated because any or all of the members of the Committee fails to satisfy the
foregoing requirements of this sentence. The acts of a majority of the members present at any meeting of the Committee at which a quorum is present, or acts approved in writing by a majority of the entire Committee, shall be the acts of the
Committee for purposes of the Plan. If and to the extent applicable, no member of the Committee may act as to matters under the Plan specifically relating to such member. Notwithstanding the other foregoing provisions of this Section 3(a),
any Award under the Plan to a person who is a member of the Committee shall be made and administered by the Board. If no Committee is designated by the Board to act for these purposes, the Board shall have the rights and responsibilities of the
Committee hereunder and under the Award Agreements. 
 (b)    Subject to the provisions of the Plan, the Committee shall
in its discretion as reflected by the terms of the Award Agreements (i) authorize the granting of Awards to Eligible Persons; (ii) determine 

  
 5 

 
the eligibility of an Eligible Person to receive an Award (subject to the individual participant limitations provided hereunder), as well as determine the number of Shares to be covered under any
Award Agreement, considering the position and responsibilities of the Eligible Person, the nature and value to the Company of the Eligible Person’s present and potential contribution to the success of the Company whether directly or through its
Subsidiaries or Affiliates and such other factors as the Committee may deem relevant; (iii) determine the terms, provisions and conditions of each Award (which may not be inconsistent with the terms of the Plan); (iv) prescribe the form of
instruments evidencing such awards; (v) make recommendations to the Board with respect to any Award that is subject to Board approval; and (vi) take such other actions as are prescribed under the Plan, including, without limitation,
Section 13 herein. 
 (c)    The Award Agreement shall contain such other terms, provisions
and conditions not inconsistent herewith as shall be determined by the Committee. In the event that any Award Agreement or other agreement hereunder provides (without regard to this sentence) for the obligation of the Company or any Subsidiary or
Affiliate thereof to purchase or repurchase Shares from a Grantee or any other person, then, notwithstanding the provisions of the Award Agreement or such other agreement, such obligation shall not apply to the extent that the purchase or repurchase
would not be permitted under governing state law. The Grantee shall take whatever additional actions and execute whatever additional documents the Committee may in its reasonable judgment deem necessary or advisable in order to carry out or effect
one or more of the obligations or restrictions imposed on the Grantee pursuant to the express provisions of the Plan and the Award Agreement. 
  

	4.	SHARES AND UNITS SUBJECT TO THE PLAN 

  

	 	4.1	In General. 

 (a)    Subject to
Section 4.2, and subject to adjustments as provided in Section 14, the total number of Shares subject to Awards granted under the Plan, in the aggregate, may not exceed 7.5% of the Shares issued
and outstanding from time to time on a fully diluted basis (assuming, if applicable, the exercise of all outstanding Options and the conversion of all warrants and convertible securities, including OP Units and LTIP Units, into Shares). Shares
distributed under the Plan shall be authorized but unissued Shares. Any Shares that have been granted as Restricted Stock or that have been reserved for distribution in payment for Options, Phantom Shares or other equity-based Awards under
Section 9 but are later forfeited or for any other reason are not payable under the Plan may again be made the subject of Awards under the Plan. 

(b)    Other than (A) as a result of a Termination of Service or (B) in connection with a Change in Control or
an event set forth in Section 14(a) hereof, each Grant issued to an Eligible Person shall include a minimum vesting period of no less than one year from the date of Grant prior to which time no portion of the Grant shall be or become exercisable or
free of restriction. 
 (c)    Shares subject to Dividend Equivalent Rights, other than Dividend Equivalent Rights based
directly on the dividends payable with respect to Shares subject to Options or the dividends payable on a number of Shares corresponding to the number of Phantom Shares awarded, shall be subject to the limitation of Section 4.1(a). If any
Phantom Shares, Dividend Equivalent Rights or other equity-based Awards under Section 9 are paid out in cash, then, notwithstanding Section 4.1(a) above, the underlying Shares may again be made the subject of Awards
under the Plan. 
 (d)    Any certificates for Shares or other evidence of ownership issued hereunder may include any
legend which the Committee deems appropriate to reflect any restrictions on transfer hereunder or under the Award Agreement, or as the Committee may otherwise deem appropriate. 

  
 6 

 (e)    Notwithstanding any provision hereunder, no Award hereunder shall be
exercisable or eligible for settlement if, as a result of either the ability to exercise or settle, or the exercise or settlement of such Award, the Company would not satisfy the REIT Requirements in any respect. 

(f)    For purposes of the Plan, the Company shall not be treated as being subject to Section 162(m) of the Code during
the period Awards granted hereunder are exempt from the limitation on tax deductibility under Section 162(m) of the Code by reason of the post-initial public offering transition relief set forth in Treasury Regulation Section 1.162-27(f). 
  

	5.	PROVISIONS APPLICABLE TO STOCK OPTIONS 

  

	 	5.1	Grant of Option. 

 Subject to the other terms of the Plan, the Committee shall, in its
discretion as reflected by the terms of the applicable Award Agreement: (i) determine and designate from time to time those Eligible Persons to whom Options are to be granted and the number of Shares to be optioned to each Eligible Person;
(ii) determine whether to grant Options intended to be Incentive Stock Options, or to grant Non-Qualified Stock Options, or both (to the extent that any Option does not qualify as an Incentive Stock
Option, it shall constitute a separate Non-Qualified Stock Option); provided that Incentive Stock Options may only be granted to employees of the Company or its Subsidiaries; (iii) determine the time or
times when and the manner and condition in which each Option shall be exercisable and the duration of the exercise period; (iv) designate each Option as one intended to be an Incentive Stock Option or as a
Non-Qualified Stock Option; and (v) determine or impose other conditions to the grant or exercise of Options under the Plan as it may deem appropriate. 

 

	 	5.2	Option Price. 

 The Option Price shall be determined by the Committee on the date the
Option is granted and reflected in the Award Agreement, as the same may be amended from time to time. Any particular Award Agreement may provide for different Option Prices for specified amounts of Shares subject to the Option; provided that the
Option Price with respect to each Option shall not be less than 100% of the Fair Market Value of a Share on the day the Option is granted. 
  

	 	5.3	Period of Option and Vesting. 

 (a)    Unless earlier expired,
forfeited or otherwise terminated, each Option shall expire in its entirety upon the 10th anniversary of the date of grant or shall have such other term (which may be shorter, but not longer, in
the case of Incentive Stock Options) as is set forth in the applicable Award Agreement (except that, in the case of an individual described in Section 422(b)(6) of the Code (relating to certain 10% owners) who is granted an Incentive Stock
Option, the term of such Option shall be no more than five years from the date of grant). The Option shall also expire, be forfeited and terminate at such times and in such circumstances as otherwise provided hereunder or under the Award Agreement.

 (b)    Each Option, to the extent that the Grantee thereof has not had a Termination of Service and the Option has
not otherwise lapsed, expired, terminated or been forfeited, shall first become exercisable (vested) according to the terms and conditions set forth in the Award Agreement, as determined by the Committee at the time of grant. Unless otherwise
provided in the Award Agreement or herein, no Option (or portion thereof) shall ever be exercisable if the Grantee has a Termination of Service before the time at which such Option (or portion thereof) would otherwise have become exercisable, and
any Option that would otherwise become exercisable after such Termination of Service shall not become exercisable and shall be forfeited upon such termination. Notwithstanding the foregoing provisions of this
Section 5.3(b), 

  
 7 

 
Options exercisable pursuant to the schedule set forth by the Committee at the time of grant may be fully or more rapidly exercisable or otherwise vested at any time in the discretion of the
Committee. Upon and after the death of an Grantee, such Grantee’s Options, if and to the extent otherwise exercisable hereunder or under the applicable Award Agreement after the Grantee’s death, may be exercised by the Successors of the
Grantee. 
  

	 	5.4	Exercisability Upon and After Termination of Grantee. 

 (a)    Except
as provided in an applicable employment agreement or Award Agreement, in the event a Grantee of an Option has a Termination of Service other than by the Company or its Subsidiaries for Cause or other than by reason of death or Disability, no
exercise of a vested Option may occur after the expiration of the three-month period to follow the termination, or if earlier, the expiration of the term of the Option as provided under Section 5.3(a); provided that, if the Grantee should die
after the Termination of Service, such termination being for a reason other than Disability or Cause, but while the Option is still in effect, the Option (if and to the extent otherwise exercisable by the Grantee at the time of death) may be
exercised until the earlier of (i) one year from the date of the Termination of Service of the Grantee, or (ii) the date on which the term of the Option expires in accordance with Section 5.3(a). 

(b)    Subject to provisions of the Award Agreement, in the event the Grantee has a Termination of Service on account of
death or Disability, the Option to the extent vested may be exercised until the earlier of (i) one year from the date of the Termination of Service of the Grantee, or (ii) the date on which the term of the Option expires in accordance with
Section 5.3. 
 (c)    Notwithstanding any other provision hereof, unless otherwise provided
in the employment agreement or Award Agreement, if the Grantee has a Termination of Service by the Company, a Subsidiary or Affiliate for Cause the Grantee’s Options, to the extent then unexercised, shall thereupon cease to be exercisable and
shall be forfeited forthwith (whether or not the Options were exercisable previously). 
 (d) Except as may otherwise be expressly set forth
in this Section 5, and except as may otherwise be expressly provided under the Award Agreement, no provision of this Section 5 is intended to or shall permit the exercise of the Option to the
extent the Option was not exercisable before or upon Termination of Service. 
  

	 	5.5	Exercise of Options. 

 (a)    Subject to vesting, restrictions on
exercisability and other restrictions provided for hereunder or otherwise imposed in accordance herewith, an Option may be exercised, and payment in full of the aggregate Option Price made, by a Grantee only by written notice (in the form prescribed
by the Committee) to the Company or its designee specifying the number of Shares to be purchased. 
 (b)    Without
limiting the scope of the Committee’s discretion hereunder, the Committee may impose such other restrictions on the exercise of Options (whether or not in the nature of the foregoing restrictions) as it may deem necessary or appropriate. 

 

	 	5.6	Payment. 

 (a)    The aggregate Option Price shall be paid in full
upon the exercise of the Option. Payment must be made by one of the following methods: 
 (i)    a
certified or bank cashier’s check; 

  
 8 

 (ii)    subject to Section 12(e), the proceeds of a
Company loan program or third-party sale program or a notice acceptable to the Committee given as consideration under such a program, in each case if permitted by the Committee in its discretion, if such a program has been established and the
Grantee is eligible to participate therein; 
 (iii)    if approved by the Committee in its discretion,
Shares of previously owned Common Stock, which have been previously owned for more than six months, having an aggregate Fair Market Value on the date of exercise equal to the aggregate Option Price; 

(iv)    other than as prohibited under Section 13(k) of the Exchange Act, if approved by the Committee in
its discretion, through the written election of the Grantee to have Shares withheld by the Company from the Shares otherwise to be received, with such withheld Shares having an aggregate Fair Market Value on the date of exercise equal to the
aggregate Option Price; or 
 (v)    by any combination of such methods of payment or any other method
acceptable to the Committee in its discretion. 
 (b)    Except in the case of Options exercised by certified or bank
cashier’s check, the Committee may impose limitations and prohibitions on the exercise of Options as it deems appropriate, including, without limitation, any limitation or prohibition designed to avoid accounting consequences which may result
from the use of Common Stock as payment upon exercise of an Option. 
 (c)    The Committee shall provide in the Award
Agreement the extent (if any) to which an Option may be exercised with respect to any fractional Share, including whether any fractional Shares resulting from a Grantee’s exercise may be paid in cash. 

 

	 	5.7	Stock Appreciation Rights. 

 The Committee, in its discretion, may also grant a Stock
Appreciation Right by permitting the Grantee to elect to receive (taking into account, without limitation, the application of Section 409A of the Code, as the Committee may deem appropriate), upon the exercise of an Option, Shares with an aggregate
Fair Market Value equal to the excess of the Fair Market Value of the Shares with respect to which the Option is being exercised over the aggregate Option Price, as determined as of the day the Option is exercised; provided that, after consideration
of possible accounting issues, the Committee may permit a Stock Appreciation Right to be settled in a combination of Shares and cash, or exclusively in cash, with an aggregate Fair Market Value (or, to the extent of payment in cash, in an amount)
equal to such excess. Without limiting the Committee’s discretion hereunder, the Committee is expressly authorized to cause the grant of a Stock Appreciation Right (i) in tandem with an otherwise exercisable underlying Option, by having
the method of exercise under this Section 5.7 apply in addition to other methods of exercise, as to all or a portion of any particular Award under this Section 5, or (ii) as a free-standing
right, by having the method of exercise under this Section 5.7 be the exclusive method of exercise. 
  

	 	5.8	Exercise by Successors. 

 An Option may be exercised, and payment in full of the
aggregate Option Price made, by the Successors of the Grantee only by written notice (as may be prescribed by the Committee) to the Company specifying the number of Shares to be purchased. Such notice shall state that the aggregate Option Price will
be paid in full, or that the Option will be exercised as otherwise provided hereunder, in the discretion of the Company or the Committee, if and as applicable. 

  
 9 

	 	5.9	Non-transferability of Option. 

 Except if
otherwise provided in the applicable Award Agreement, each Option granted under the Plan shall be nontransferable by the Grantee except by will or the laws of descent and distribution of the state wherein the Grantee is domiciled at the time of his
death; provided, however, that the Committee may (but need not) permit other transfers, where the Committee concludes that such transferability (i) does not result in accelerated U.S. federal income taxation, (ii) does not cause any Option
intended to be an Incentive Stock Option to fail to be described in Section 422(b) of the Code, (iii) complies with applicable law, including securities laws, and (iv) is otherwise appropriate and desirable. 

 

	 	5.10	Certain Incentive Stock Option Provisions. 

 (a)    In no event may
an Incentive Stock Option be granted other than to employees of the Company or a “subsidiary corporation” (as defined in Section 424(f) of the Code) or a “parent corporation” (as defined in Section 424(e) of the Code) with
respect to the Company. The aggregate Fair Market Value, determined as of the date an Option is granted, of the Common Stock for which any Grantee may be awarded Incentive Stock Options which are first exercisable by the Grantee during any calendar
year under the Plan (or any other stock option plan required to be taken into account under Section 422(d) of the Code) shall not exceed $100,000. To the extent the $100,000 limit referred to in the preceding sentence is exceeded, an Option will be
treated as a Non-Qualified Stock Option. 
 (b)    If Shares acquired upon
exercise of an Incentive Stock Option are disposed of in a disqualifying disposition within the meaning of Section 422 of the Code by an Grantee prior to the expiration of either two years from the date of grant of such Option or one year from
the transfer of Shares to the Grantee pursuant to the exercise of such Option, or in any other disqualifying disposition within the meaning of Section 422 of the Code, such Grantee shall notify the Company in writing as soon as practicable
thereafter of the date and terms of such disposition and, if the Company (or any Affiliate thereof) thereupon has a tax-withholding obligation, shall pay to the Company (or such Affiliate) an amount equal to
any withholding tax the Company (or Affiliate) is required to pay as a result of the disqualifying disposition. 

(c)    Without limiting the application of Section 5.2, the Option Price with respect to each
Incentive Stock Option shall not be less than 100%, or 110% in the case of an individual described in Section 422(b)(6) of the Code (relating to certain 10% owners), of the Fair Market Value of a Share on the day the Option is granted. In the case
of an individual described in Section 422(b)(6) of the Code who is granted an Incentive Stock Option, the term of such Option shall be no more than five years from the date of grant. 

 

	6.	PROVISIONS APPLICABLE TO RESTRICTED STOCK 

  

	 	6.1	Grant of Restricted Stock. 

 (a)    In connection with the grant of
Restricted Stock, whether or not Performance Goals (as provided for under Section 10) apply thereto, the Committee shall establish one or more vesting periods with respect to the shares of Restricted Stock granted, the
length of which shall be determined in the discretion of the Committee and set forth in the applicable Award Agreement. Subject to the provisions of this Section 6, the applicable Award Agreement and the other provisions of
the Plan, restrictions on Restricted Stock shall lapse if the Grantee satisfies all applicable employment or other service requirements through the end of the applicable vesting period. The Committee also may authorize the granting of Shares that
are immediately vested, but otherwise subject to the provisions of the Plan applicable to Restricted Stock. 

  
 10 

 (b)    Subject to the other terms of the Plan, the Committee may, in its
discretion as reflected by the terms of the applicable Award Agreement: (i) authorize the granting of Restricted Stock to Eligible Persons; (ii) provide a specified purchase price for the Restricted Stock (whether or not the payment of a
purchase price is required by any state law applicable to the Company); (iii) determine the restrictions applicable to Restricted Stock and (iv) determine or impose other conditions, including any applicable Performance Goals, to the grant
of Restricted Stock under the Plan as it may deem appropriate. 
  

	 	6.2	Certificates. 

 (a)    In the discretion of the Committee, each
Grantee of Restricted Stock may be issued a stock certificate in respect of Shares of Restricted Stock awarded under the Plan. Each such certificate shall be registered in the name of the Grantee. A “book entry” (by computerized or manual
entry) shall be made in the records of the Company or its designee to evidence an award of Restricted Stock where no certificate is issued in the name of the Grantee. Each certificate, if any, shall be registered in the name of the Grantee and may
include any legend which the Committee deems appropriate to reflect any restrictions on transfer hereunder or under the applicable Award Agreement, or as the Committee may otherwise deem appropriate, and, without limiting the generality of the
foregoing, shall bear a legend referring to the terms, conditions, and restrictions applicable to such Award, substantially in the following form: 

THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING
FORFEITURE) OF THE HANNON ARMSTRONG SUSTAINABLE INFRASTRUCTURE CAPITAL, INC. EQUITY INCENTIVE PLAN AND AN AWARD AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER AND HANNON ARMSTRONG SUSTAINABLE INFRASTRUCTURE CAPITAL, INC. COPIES OF SUCH PLAN AND
AWARD AGREEMENT ARE ON FILE IN THE OFFICES OF HANNON ARMSTRONG SUSTAINABLE INFRASTRUCTURE CAPITAL, INC. AT 1906 TOWNE CENTRE BVLD, SUITE 370, ANNAPOLIS, MARYLAND. 

(b)    The Committee shall require that any stock certificates evidencing such Shares be held in custody by the Company or
its designee until the restrictions thereon shall have lapsed, and may in its discretion require that, as a condition of any Award of Restricted Stock, the Grantee shall have delivered to the Company or its designee a stock power, endorsed in blank,
relating to the stock covered by such Restricted Stock Award. If and when such restrictions so lapse, any stock certificates shall be delivered by the Company to the Grantee or his or her designee (and the stock power shall be so delivered or shall
be discarded). 
  

	 	6.3	Restrictions and Conditions. 

 Unless otherwise provided by the Committee in an Award
Agreement, the Shares of Restricted Stock awarded pursuant to the Plan shall be subject to the following restrictions and conditions: 

(i)    Subject to the provisions of the Plan and the applicable Award Agreements, during a period
commencing with the date of such Award and ending on the date the period of forfeiture with respect to such Shares of Restricted Stock lapses, the Grantee shall not be permitted voluntarily or involuntarily to sell, transfer, pledge, anticipate,
alienate, encumber or assign Shares of Restricted Stock awarded under the Plan (or have such Shares attached or 

  
 11 

 
garnished). Subject to the provisions of the applicable Award Agreements and clauses (iii) and (iv) below, the period of forfeiture with respect to Shares of Restricted Stock granted
hereunder shall lapse as provided in the applicable Award Agreement. Notwithstanding the foregoing, unless otherwise expressly provided by the Committee, the period of forfeiture with respect to such Shares of Restricted Stock shall only lapse as to
whole Shares. 
 (ii)    Except as provided in the foregoing clause (i), below in this
clause (ii), in Section 14, or as otherwise provided in the applicable Award Agreement, the Grantee shall have, in respect of the Shares of Restricted Stock, all of the rights of a stockholder of the Company, including
the right to vote the Shares, and, except as provided below, the right to receive any cash dividends; provided, however, that, if provided in an Award Agreement, cash dividends on such Shares shall be (A) held by the Company (unsegregated as a
part of its general assets) until the period of forfeiture lapses (and forfeited if the underlying Shares are forfeited), and paid over to the Grantee (without interest) as soon as practicable after such period lapses (if not forfeited), or
(B) treated as may otherwise be provided in an Award Agreement. 
 (iii)    Except as otherwise
provided in an applicable employment agreement or Award Agreement, if the Grantee has a Termination of Service for any reason during the applicable period of forfeiture, then (A) all Shares still subject to restriction shall thereupon, and with
no further action, be forfeited by the Grantee, and (B) the Company shall pay to the Grantee as soon as practicable (and in no event more than 30 days) after such termination an amount, if any, equal to the lesser of (x) the amount paid by
the Grantee, if any, for such forfeited Restricted Stock as contemplated by Section 6.1, and (y) the Fair Market Value on the date of termination of the forfeited Restricted Stock. 

 

	7.	PROVISIONS APPLICABLE TO PHANTOM SHARES 

  

	 	7.1	Grant of Phantom Shares. 

 Subject to the other terms of the Plan, the Committee shall,
in its discretion as reflected by the terms of the applicable Award Agreement: (i) authorize the granting of Phantom Shares to Eligible Persons and (ii) determine or impose other conditions to the grant of Phantom Shares under the Plan as
it may deem appropriate. 
  

	 	7.2	Term. 

 The Committee may provide in an Award Agreement that any particular Phantom Share
shall expire at the end of a specified term. 
  

	 	7.3	Vesting. 

 (a) Subject to the provisions of an applicable Award Agreement and Section
7.3(b), Phantom Shares shall vest as provided in the applicable Award Agreement. 
 (b) Unless otherwise determined by the Committee in
an applicable Award Agreement, in the event that a Grantee has a Termination of Service, any and all of the Grantee’s Phantom Shares which have not vested prior to or as of such termination shall thereupon, and with no further action, be
forfeited and cease to be outstanding and the Grantee’s vested Phantom Shares shall be settled as set forth in Section 7.4. 

  
 12 

	 	7.4	Settlement of Phantom Shares. 

 (a)    Except as otherwise provided
by the Committee, each vested and outstanding Phantom Share shall be settled by the transfer to the Grantee of one Share; provided, however, that, the Committee at the time of grant (or, in the appropriate case, as determined by the Committee,
thereafter) may provide that, after consideration of possible accounting issues, a Phantom Share may be settled (i) in cash at the applicable Phantom Share Value, (ii) in cash or by transfer of Shares as elected by the Grantee in
accordance with procedures established by the Committee (if any) or (iii) in cash or by transfer of Shares as elected by the Company. 

(b)    Payment (whether of cash or Shares) in respect of Phantom Shares shall be settled with a single-sum payment or distribution by the Company; provided that, with respect to Phantom Shares of a Grantee which have a common Settlement Date, the Committee (taking into account, without limitation, Section 409A
of the Code, as the Committee may deem appropriate) may permit the Grantee to elect in accordance with procedures established by the Committee to receive installment payments over a period not to exceed 10 years. If the Grantee’s Phantom Shares
are paid out in installment payments, such installment payments shall be treated as a series of separate payments for purposes of Section 409A of the Code. 

(c)(i)    Unless otherwise provided in the applicable Award Agreement, the “Settlement Date” with respect to a
Phantom Share is the first day of the month to follow the date on which the Phantom Share vests; provided, however, that a Grantee may elect at or prior to grant, if permitted by and in accordance with procedures to be established by the Committee,
that such Settlement Date will be deferred as elected by the Grantee to the first day of the month to follow the Grantee’s Termination of Service, or such other time as may be permitted by the Committee. Notwithstanding the prior sentence, all
initial elections to defer the Settlement Date shall be made in accordance with the requirements of Section 409A of the Code. In addition, unless otherwise determined by the Committee, any subsequent elections under this Section 7.4(c)(i)
must, except as may otherwise be permitted under the rules applicable under Section 409A of the Code, (A) not be effective for at least one year after they are made, or, in the case of payments to commence at a specific time, be made at least
one year before the first scheduled payment and (B) defer the commencement of distributions (and each affected distribution) for at least five years. 

(ii)    Notwithstanding Section 7.4(c)(i), the Committee may provide that distributions of
Phantom Shares can be elected at any time in those cases in which the Phantom Share Value is determined by reference to Fair Market Value to the extent in excess of a base value, rather than by reference to unreduced Fair Market Value. 

(iii)    Notwithstanding the foregoing, the Settlement Date, if not earlier pursuant to this
Section 7.4(c), is the date of the Grantee’s death. 
 (d)    Notwithstanding the other
provisions of this Section 7, taking into account, without limitation, the application of Section 409A of the Code, as the Committee may deem appropriate, in the event of a Change in Control, the Settlement Date shall be
the date of such Change in Control and all amounts due with respect to Phantom Shares to a Grantee hereunder shall be paid as soon as practicable (but in no event more than 30 days) after such Change in Control, unless such Grantee elects otherwise
in accordance with procedures established by the Committee. 
 (e)    Notwithstanding any other provision of the Plan,
taking into account, without limitation, the application of Section 409A of the Code, as the Committee may deem appropriate, a Grantee may receive any amounts to be paid in installments as provided in Section 7.4(b) or
deferred by the Grantee as 

  
 13 

 
provided in Section 7.4(c) in the event of an “Unforeseeable Emergency.” For these purposes, an “Unforeseeable Emergency” means an event that would
cause a severe financial hardship to the Grantee resulting from (x) a sudden and unexpected illness or accident of the Grantee or “dependent,” as defined in Section 152(a) of the Code, of the Grantee, (y) loss of the
Grantee’s property due to casualty, or (z) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Grantee. The circumstances that will constitute an Unforeseeable Emergency will
depend upon the facts of each case, but, in any case, payment may not be made to the extent that such hardship is or may be relieved: 

(i)    through reimbursement or compensation by insurance or otherwise, 

(ii)    by liquidation of the Grantee’s assets, to the extent the liquidation of such assets would not
itself cause severe financial hardship, or 
 (iii)    by future cessation of the making of additional
deferrals with respect to Phantom Shares. 
 Without limitation, the need to send a Grantee’s child to college or the desire to purchase a home shall
not constitute an Unforeseeable Emergency. Distributions of amounts because of an Unforeseeable Emergency shall be permitted to the extent reasonably needed to satisfy the emergency need. 

 

	 	7.5	Other Phantom Share Provisions. 

 (a)    Except as permitted by the
Committee, rights to payments with respect to Phantom Shares granted under the Plan shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, garnishment, levy, execution, or other
legal or equitable process, either voluntary or involuntary; and any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, attach or garnish, or levy or execute on any right to payments or other benefits payable hereunder, shall
be void. 
 (b)    A Grantee may designate in writing, on forms to be prescribed by the Committee, a beneficiary or
beneficiaries to receive any payments payable after his or her death and may amend or revoke such designation at any time. If no beneficiary designation is in effect at the time of a Grantee’s death, payments hereunder shall be made to the
Grantee’s estate. If a Grantee with a vested Phantom Share dies, such Phantom Share shall be settled and the Phantom Share Value in respect of such Phantom Shares paid, and any payments deferred pursuant to an election under
Section 7.4(c) shall be accelerated and paid, as soon as practicable (but no later than 60 days) after the date of death to such Grantee’s beneficiary or estate, as applicable. 

(c)    The Committee may, taking into account, without limitation, the application of Section 409A of the Code, as the
Committee may deem appropriate, establish a program under which distributions with respect to Phantom Shares may be deferred for periods in addition to those otherwise contemplated by the foregoing provisions of this
Section 7. Such program may include, without limitation, provisions for the crediting of earnings and losses on unpaid amounts, and, if permitted by the Committee, provisions under which Grantees may select from among
hypothetical investment alternatives for such deferred amounts in accordance with procedures established by the Committee. 

(d)    Notwithstanding any other provision of this Section 7, any fractional Phantom Share will
be paid out in cash at the Phantom Share Value as of the Settlement Date. 

  
 14 

 (e)    No Phantom Share shall be construed to give any Grantee any rights
with respect to Shares or any ownership interest in the Company. Except as may be provided in accordance with Section 8, no provision of the Plan shall be interpreted to confer upon any Grantee of a Phantom Share any
voting, dividend or derivative or other similar rights with respect to any Phantom Share. 
  

	 	7.6	Claims Procedures. 

 (a)    To the extent that the Plan is determined
by the Committee to be subject to the Employee Retirement Income Security Act of 1974, as amended, the Grantee, or his beneficiary hereunder or authorized representative, may file a claim for payments with respect to Phantom Shares under the Plan by
written communication to the Committee or its designee. A claim is not considered filed until such communication is actually received. Within 90 days (or, if special circumstances require an extension of time for processing, 180 days, in which
case notice of such special circumstances should be provided within the initial 90-day period) after the filing of the claim, the Committee will either: 

(i)    approve the claim and take appropriate steps for satisfaction of the claim; or 

(ii)    if the claim is wholly or partially denied, advise the claimant of such denial by furnishing to him
a written notice of such denial setting forth (A) the specific reason or reasons for the denial; (B) specific reference to pertinent provisions of the Plan on which the denial is based and, if the denial is based in whole or in part on any
rule of construction or interpretation adopted by the Committee, a reference to such rule, a copy of which shall be provided to the claimant; (C) a description of any additional material or information necessary for the claimant to perfect the
claim and an explanation of the reasons why such material or information is necessary; and (D) a reference to this Section 7.6 as the provision setting forth the claims procedure under the Plan. 

(b)    The claimant may request a review of any denial of his claim by written application to the Committee within 60 days
after receipt of the notice of denial of such claim. Within 60 days (or, if special circumstances require an extension of time for processing, 120 days, in which case notice of such special circumstances should be provided within the initial 60-day period) after receipt of written application for review, the Committee will provide the claimant with its decision in writing, including, if the claimant’s claim is not approved, specific reasons for the
decision and specific references to the Plan provisions on which the decision is based. 
  

	8.	PROVISIONS APPLICABLE TO DIVIDEND EQUIVALENT RIGHTS 

  

	 	8.1	Grant of Dividend Equivalent Rights. 

 Subject to the other terms of the Plan, the
Committee shall, in its discretion as reflected by the terms of the Award Agreements, authorize the granting of Dividend Equivalent Rights to Eligible Persons based on the regular cash dividends declared on Common Stock, to be credited as of the
dividend payment dates, during the period between the date an Award is granted, and the date such Award is exercised, vests or expires, as determined by the Committee. Such Dividend Equivalent Rights shall be converted to cash or additional Shares
by such formula and at such time and subject to such limitation as may be determined by the Committee. With respect to Dividend Equivalent Rights granted with respect to Options intended to be qualified performance-based compensation for purposes of
Section 162(m) of the Code, such Dividend Equivalent Rights shall be payable regardless of whether such Option is exercised. If a Dividend Equivalent Right is granted in respect of another Award hereunder, then, unless otherwise stated in the
Award Agreement, or, in the appropriate case, as determined by the Committee, in no event shall the Dividend Equivalent Right be in effect for a period beyond the time during which the applicable portion of the underlying Award is in effect. 

  
 15 

	 	8.2	Certain Terms. 

 (a)    The term of a Dividend Equivalent Right shall
be set by the Committee in its discretion. 
 (b)    Unless otherwise determined by the Committee, except as
contemplated by Section 8.4, a Dividend Equivalent Right is exercisable or payable only while the Grantee is an Eligible Person. 

(c)    Payment of the amount determined in accordance with Section 8.1 shall be in cash, in
Common Stock or a combination of both, as determined by the Committee. 
 (d)    The Committee may impose such
employment-related conditions on the grant of a Dividend Equivalent Right as it deems appropriate in its discretion. 
  

	 	8.3	Other Types of Dividend Equivalent Rights. 

 The Committee may establish a program under
which Dividend Equivalent Rights of a type whether or not described in the foregoing provisions of this Section 8 may be granted to Grantees. For example, and without limitation, the Committee may grant a Dividend
Equivalent Right in respect of each Share subject to an Option or with respect to a Phantom Share, which right would consist of the right (subject to Section 8.4) to receive a cash payment in an amount equal to the dividend
distributions paid on a Share from time to time. 
  

	 	8.4	Deferral. 

 The Committee may establish a program or programs (taking into account,
without limitation, the possible application of Section 409A of the Code, as the Committee may deem appropriate) under which Grantees (i) will have Phantom Shares credited, subject to the terms of Sections 7.4 and
7.5 as though directly applicable with respect thereto, upon the granting of Dividend Equivalent Rights, or (ii) will have payments with respect to Dividend Equivalent Rights deferred. In the case of the foregoing clause (ii), such
program may include, without limitation, provisions for the crediting of earnings and losses on unpaid amounts, and, if permitted by the Committee, provisions under which Grantees may select from among hypothetical investment alternatives for such
deferred amounts in accordance with procedures established by the Committee. 
  

	9.	OTHER EQUITY-BASED AWARDS 

 The Committee shall have the right to grant other Awards
based upon the Common Stock having such terms and conditions as the Committee may determine, including, without limitation, an Award granted or denominated in Shares or units of Shares based upon certain conditions or denominated in other equity
interests, including, without limitation, equity interests of the Partnership, such as LTIP Units that are convertible or exchangeable into Shares, or equity interests in other Subsidiaries. 

 

	10.	PERFORMANCE GOALS 

 The Committee, in its discretion, may, in the case of any Awards
(including, in particular, Awards other than Options) intended to qualify for an exception from the limitation imposed by Section 162(m) of the Code at any time that Section 162(m) applies to the Company, or otherwise (“Performance-Based
Awards”), (i) establish one or more Performance Goals (“Performance Goals”) as a precondition to 

  
 16 

 
the issuance or vesting of Awards, and (ii) provide, in connection with the establishment of the Performance Goals, for predetermined Awards to those Grantees (who continue to meet all
applicable eligibility requirements) with respect to whom the applicable Performance Goals are satisfied. The Performance Goals shall be based upon the criteria set forth in Exhibit A hereto which is hereby incorporated herein by reference as
though set forth in full. The Performance Goals shall be established in a timely fashion such that they are considered pre-established for purposes of the rules governing performance-based compensation under
Section 162(m) of the Code at any time that Section 162(m) applies to the Company, and compliance with such rules is sought. Prior to the award or vesting, as applicable, of affected Awards hereunder, the Committee shall have certified that any
applicable Performance Goals, and other material terms of the Award, have been satisfied. Performance Goals which do not satisfy the foregoing provisions of this Section 10 may be established by the Committee with respect
to Awards not intended to qualify for an exception from the limitations imposed by Section 162(m) of the Code. 
  

	11.	TAX WITHHOLDING 

  

	 	11.1	In General. 

 The Company, or a properly designated paying agent, shall be entitled to
withhold from any payments or deemed payments any amount of tax withholding determined by the Committee to be required by law. Without limiting the generality of the foregoing, the Committee may, in its discretion, require the Grantee to pay to the
Company at such time as the Committee determines the amount that the Committee deems necessary to satisfy the Company’s obligation to withhold federal, state or local income or other taxes incurred by reason of (i) the exercise of any
Option, (ii) the lapsing of any restrictions applicable to any Restricted Stock, (iii) the receipt of a distribution in respect of Phantom Shares or Dividend Equivalent Rights or (iv) any other applicable income-recognition event (for
example, an election under Section 83(b) of the Code). 
  

	 	11.2	Share Withholding. 

 (a)    Upon exercise of an Option, the Grantee
may, if approved by the Committee in its discretion, make a written election to have Shares then issued withheld by the Company from the Shares otherwise to be received, or to deliver previously owned Shares, in order to satisfy the liability for
such withholding taxes. In the event that the Grantee makes, and the Committee permits, such an election, the number of Shares so withheld or delivered shall have an aggregate Fair Market Value on the date of exercise sufficient to satisfy the
applicable withholding taxes. Where the exercise of an Option does not give rise to an obligation by the Company to withhold federal, state or local income or other taxes on the date of exercise, but may give rise to such an obligation in the
future, the Committee may, in its discretion, make such arrangements and impose such requirements as it deems necessary or appropriate. 

(b)    Upon lapsing of restrictions on Restricted Stock (or other income-recognition event), the Grantee may, if approved
by the Committee in its discretion, make a written election to have Shares withheld by the Company from the Shares otherwise to be released from restriction, or to deliver previously owned whole Shares (not subject to restrictions hereunder) (for
which such holder has good title, free and clear of all liens and encumbrances), in order to satisfy the liability for such withholding taxes. In the event that the Grantee makes, and the Committee permits, such an election, the number of Shares so
withheld or delivered shall have an aggregate Fair Market Value on the date of exercise sufficient to satisfy the applicable withholding taxes. 

(c)    Upon the making of a distribution in respect of Phantom Shares or Dividend Equivalent Rights, the Grantee may, if
approved by the Committee in its discretion, make a written election to have 

  
 17 

 
amounts (which may include Shares) withheld by the Company from the distribution otherwise to be made, or to deliver previously owned whole Shares (not subject to restrictions hereunder) (for
which such holder has good title, free and clear of all liens and encumbrances), in order to satisfy the liability for such withholding taxes. In the event that the Grantee makes, and the Committee permits, such an election, any Shares so withheld
or delivered shall have an aggregate Fair Market Value on the date of exercise sufficient to satisfy the applicable withholding taxes. 
  

	 	11.3	Withholding Required. 

 Notwithstanding anything contained in the Plan or the Award
Agreement to the contrary, the Grantee’s satisfaction of any tax-withholding requirements imposed by the Committee shall be a condition precedent to the Company’s obligation as may otherwise be
provided hereunder to provide Shares to the Grantee and to the release of any restrictions as may otherwise be provided hereunder, as applicable; and the applicable Option, Restricted Stock, Phantom Shares or Dividend Equivalent Rights shall be
forfeited upon the failure of the Grantee to satisfy such requirements with respect to, as applicable, (i) the exercise of the Option, (ii) the lapsing of restrictions on the Restricted Stock (or other income-recognition event) or
(iii) distributions in respect of any Phantom Share or Dividend Equivalent Right. 
  

	12.	REGULATIONS AND APPROVALS 

 (a)    The obligation of the Company to
sell Shares with respect to an Award granted under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable federal and state securities laws, and the obtaining of all such approvals by governmental agencies
as may be deemed necessary or appropriate by the Committee. 
 (b)    The Committee may make such changes to the Plan as
may be necessary or appropriate to comply with the rules and regulations of any government authority or to obtain tax benefits applicable to an Award. 

(c)    Each grant of Options, Restricted Stock, Phantom Shares (or issuance of Shares in respect thereof) or Dividend
Equivalent Rights (or issuance of Shares in respect thereof), or other Award under Section 9 (or issuance of Shares in respect thereof), is subject to the requirement that, if at any time the Committee determines, in its
discretion, that the listing, registration or qualification of Shares issuable pursuant to the Plan is required by any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body is necessary
or desirable as a condition of, or in connection with, the issuance of Options, Shares of Restricted Stock, Phantom Shares, Dividend Equivalent Rights, other Awards or other Shares, no payment shall be made, or Phantom Shares or Shares issued or
grant of Restricted Stock or other Award made, in whole or in part, unless listing, registration, qualification, consent or approval has been effected or obtained free of any conditions in a manner acceptable to the Committee. 

(d)    In the event that the disposition of stock acquired pursuant to the Plan is not covered by a then current
registration statement under the Securities Act, and is not otherwise exempt from such registration, such Shares shall be restricted against transfer to the extent required under the Securities Act, and the Committee may require any individual
receiving Shares pursuant to the Plan, as a condition precedent to receipt of such Shares, to represent to the Company in writing that such Shares are acquired for investment only and not with a view to distribution and that such Shares will be
disposed of only if registered for sale under the Securities Act or if there is an available exemption for such disposition. 

  
 18 

 (e)    Notwithstanding any other provision of the Plan, the Company shall not
be required to take or permit any action under the Plan or any Award Agreement which, in the good-faith determination of the Company, would result in a material risk of a violation by the Company of Section 13(k) of the Exchange Act. 

 

	13.	INTERPRETATION AND AMENDMENTS; OTHER RULES 

 (a)    The Committee may
make such rules and regulations and establish such procedures for the administration of the Plan as it deems appropriate. In the event of conflict between the terms of an Award Agreement and an employment agreement between the Company and the
Grantee, absent language to the contrary, the terms of such employment agreement shall be binding. Without limiting the generality of the foregoing, the Committee may (i) determine the extent, if any, to which Options, Phantom Shares or Shares
(whether or not Shares of Restricted Stock), Dividend Equivalent Rights or other equity-based Awards shall be forfeited (whether or not such forfeiture is expressly contemplated hereunder); (ii) interpret the Plan and the Award Agreements
hereunder, with such interpretations to be conclusive and binding on all persons and otherwise accorded the maximum deference permitted by law, provided that the Committee’s interpretation shall not be entitled to deference on and after a
Change in Control except to the extent that such interpretations are made exclusively by members of the Committee who are individuals who served as Committee members before the Change in Control; and (iii) take any other actions and make any
other determinations or decisions that it deems necessary or appropriate in connection with the Plan or the administration or interpretation thereof. In the event of any dispute or disagreement as to the interpretation of the Plan or of any rule,
regulation or procedure, or as to any question, right or obligation arising from or related to the Plan, the decision of the Committee, except as provided in clause (ii) of the foregoing sentence, shall be final and binding upon all persons.
Unless otherwise expressly provided hereunder, the Committee, with respect to any grant, may exercise its discretion hereunder at the time of the Award or thereafter. Notwithstanding any provision in the Plan to the contrary, no Option or Stock
Appreciation Right (granted pursuant to Section 5.7) issued under the Plan may be amended to reduce the Option Price or the exercise price of such Stock Appreciation Right below the Option Price or exercise price as of the
date the Option or Stock Appreciation Right was granted. 
 (b)    The Board may amend the Plan as it shall deem
advisable, except that no amendment may adversely affect a Grantee with respect to an Award previously granted without such Grantee’s written consent unless such amendments are required in order to comply with applicable laws; provided,
however, that the Plan may not be amended without stockholder approval in any case in which amendment in the absence of stockholder approval would cause the Plan to fail to comply with any applicable legal requirement or applicable exchange or
similar rule. 
 (c)    Notwithstanding Section 13(a) above, or any other provision of the Plan, the repricing of Awards
shall not be permitted without stockholder approval. For this purpose, a “repricing” means any of the following (or any other action that has the same effect as any of the following): (1) changing the terms of an Award to lower its
exercise or base price (other than on account of capital adjustments resulting from actions described in Section 14(a) hereof), (2) any other action that is treated as a repricing under generally accepted accounting principles, and
(3) repurchasing for cash or canceling an Award in exchange for another Award at a time when its exercise or base price is greater than the Fair Market Value of the underlying Stock, unless the cancellation and exchange occurs in connection
with a Change in Control or an event set forth in Section 14(a) hereof. 

  
 19 

	14.	CHANGES IN CAPITAL STRUCTURE 

 (a)    If (i) the Company or its
Subsidiaries shall at any time be involved in a merger, consolidation, dissolution, liquidation, reorganization, exchange of shares, sale of all or substantially all of the assets or stock of the Company or its Subsidiaries or a transaction similar
thereto, (ii) any stock dividend, stock split, reverse stock split, stock combination, reclassification, recapitalization or other similar change in the capital structure of the Company or its Subsidiaries, or any distribution to holders of
Common Stock other than cash dividends, shall occur or (iii) any other event shall occur which in the judgment of the Committee necessitates action by way of adjusting the terms of the outstanding Awards, then: 

(x)        the maximum aggregate number and kind of Shares which may be made subject to
Options and Dividend Equivalent Rights under the Plan, the maximum aggregate number and kind of Shares of Restricted Stock that may be granted under the Plan, and the maximum aggregate number of Phantom Shares and other Awards which may be granted
under the Plan may be appropriately adjusted by the Committee in its discretion; and 

(y)        the Committee shall take any such action as in its discretion shall be
necessary to maintain each Grantees’ rights hereunder (including under their Award Agreements) with respect to Options, Phantom Shares and Dividend Equivalent Rights (and, as appropriate, other Awards under the Plan), so that they are
substantially proportionate to the rights existing in such Options, Phantom Shares and Dividend Equivalent Rights (and other Awards under the Plan) prior to such event, including, without limitation, adjustments in (A) the number of Options,
Phantom Shares and Dividend Equivalent Rights (and other Awards under the Plan) granted, (B) the number and kind of shares or other property to be distributed in respect of Options, Phantom Shares and Dividend Equivalent Rights (and other
Awards under the Plan, as applicable), (C) the Option Price and Phantom Share Value, and (D) performance-based criteria established in connection with Awards (to the extent consistent with Section 162(m) of the Code, as applicable);
provided that, in the discretion of the Committee, the foregoing clause (D) may also be applied in the case of any event relating to a Subsidiary if the event would have been covered under this Section 14(a) had the
event related to the Company. 
 To the extent that such action shall include an increase or decrease in the number of Shares (or units of other property
then available) subject to all outstanding Awards, the number of Shares (or units) available under Section 4 shall be increased or decreased, as the case may be, proportionately, as may be determined by the Committee in its
discretion. 
 (b)    Any Shares or other securities distributed to a Grantee with respect to Restricted Stock or
otherwise issued in substitution of Restricted Stock shall be subject to the restrictions and requirements imposed by Section 6, including depositing the certificates therefor with the Company together with a stock power
and bearing a legend as provided in Section 6.2(a). 
 (c)    If the Company shall be
consolidated or merged with another corporation or other entity, each Grantee who has received Restricted Stock that is then subject to restrictions imposed by Section 6.3(a) may be required to deposit with the successor
corporation the certificates, if any, for the stock or securities or the other property that the Grantee is entitled to receive by reason of ownership of Restricted Stock in a manner consistent with Section 6.2(b), and such
stock, securities or other property shall become subject to the restrictions and requirements imposed by Section 6.3(a), and the certificates therefor or other evidence thereof shall bear a legend similar in form and
substance to the legend set forth in Section 6.2(a). 

  
 20 

 (d)    If a Change in Control shall occur, then the Committee, as constituted
immediately before the Change in Control, may make such adjustments as it, in its discretion, determines are necessary or appropriate in light of the Change in Control, provided that the Committee determines that such adjustments do not have an
adverse economic impact on the Grantee as determined at the time of the adjustments. The Committee’s authority shall include, but not be limited to, having the discretion to provide that upon a Change in Control, (i) all or a portion of
any outstanding Options and Stock Appreciation Rights shall become fully exercisable, (ii) all or a portion of any outstanding Awards shall become vested and transferable, and all or a portion of any outstanding Performance-Based Awards and
incentive awards will be earned, or (iii) all or a portion of any outstanding Awards may be cancelled in exchange for a payment of cash, or all or a portion of any outstanding Awards may be substituted for Awards that will substantially
preserve the otherwise applicable terms of any affected Awards previously granted under the Plan. 
 (e)    The judgment
of the Committee with respect to any matter referred to in this Section 14 shall be conclusive and binding upon each Grantee without the need for any amendment to the Plan. 

 

	15.	MISCELLANEOUS 

  

	 	15.1	No Rights to Employment or Other Service. 

 Nothing in the Plan or in any grant made
pursuant to the Plan shall confer on any individual any right to continue in the employ or other service of the Company or its Subsidiaries or interfere in any way with the right of the Company or its Subsidiaries and its stockholders to terminate
the individual’s employment or other service at any time. 
  

	 	15.2	No Fiduciary Relationship. 

 Nothing contained in the Plan (including without limitation
Sections 7.5(c) and 8.4, and no action taken pursuant to the provisions of the Plan, shall create or shall be construed to create a trust of any kind, or a fiduciary relationship between the Company or its Subsidiaries, or
their officers or the Committee, on the one hand, and the Grantee, the Company, its Subsidiaries or any other person or entity, on the other. 
  

	 	15.3	Compliance with Section 409A of the Code. 

 (a)    Any Award
Agreement issued under the Plan that is subject to Section 409A of the Code may include such additional terms and conditions as the Committee determines are required to satisfy the requirements of Section 409A of the Code. 

(b)    With respect to any Award issued under the Plan that is subject to Section 409A of the Code, and with respect to
which a payment or distribution is to be made upon a Termination of Service, if the Grantee is determined by the Company to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code and any of the Company’s
stock is publicly traded on an established securities market or otherwise, such payment or distribution, to the extent it would constitute a payment of nonqualified deferred compensation within the meaning of Section 409A of the Code that is
ineligible for an exemption from treatment as such, may not be made before the date which is six months after the date of Termination of Service (to the extent required under Section 409A of the Code). Any payments or distributions delayed in
accordance with the prior sentence shall be paid to the Grantee on the first day of the seventh month following the Grantee’s Termination of Service. 

  
 21 

 (c)    To the extent compliance with Section 409A of the Code is intended,
the Board and the Committee shall administer the Plan, and exercise authority and discretion under the Plan, consistent with the requirements of Section 409A of the Code or any exemption thereto. 

(d)    The Company makes no representation or warranty and shall have no liability to any Grantee or any other person if
any provisions of this Plan or any Award Agreement issued pursuant hereto are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. 

 

	 	15.4	No Fund Created. 

 Any and all payments hereunder to any Grantee under the Plan shall be
made from the general funds of the Company (or, if applicable, a participating Subsidiary), no special or separate fund shall be established or other segregation of assets made to assure such payments, and the Phantom Shares (including for purposes
of this Section 15.4 any accounts established to facilitate the implementation of Section 7.4(c)) and any other similar devices issued hereunder to account for Plan obligations do not constitute Common Stock and
shall not be treated as (or as giving rise to) property or as a trust fund of any kind; provided, however, that the Company (or a participating Subsidiary) may establish a mere bookkeeping reserve to meet its obligations hereunder or a trust or
other funding vehicle that would not cause the Plan to be deemed to be funded for tax purposes or for purposes of Title I of the Employee Retirement Income Security Act of 1974, as amended. The obligations of the Company (or, if applicable, a
participating Subsidiary) under the Plan are unsecured and constitute a mere promise by the Company (or, if applicable, a participating Subsidiary) to make benefit payments in the future and, to the extent that any person acquires a right to receive
payments under the Plan from the Company (or, if applicable, a participating Subsidiary), such right shall be no greater than the right of a general unsecured creditor of the Company (or, if applicable, a participating Subsidiary). (If any Affiliate
of the Company is or is made responsible with respect to any Awards, the foregoing sentence shall apply with respect to such Affiliate.) Without limiting the foregoing, Phantom Shares and any other similar devices issued hereunder to account for
Plan obligations are solely a device for the measurement and determination of the amounts to be paid to a Grantee under the Plan, and each Grantee’s right in the Phantom Shares and any such other devices is limited to the right to receive
payment, if any, as may herein be provided. 
  

	 	15.5	Notices. 

 All notices under the Plan shall be in writing, and if to the Company, shall
be delivered to the Committee or mailed to its principal office, addressed to the attention of the Committee; and if to the Grantee, shall be delivered personally, sent by facsimile transmission or mailed to the Grantee at the address appearing in
the records of the Company. Such addresses may be changed at any time by written notice to the other party given in accordance with this Section 15.5. 

 

	 	15.6	Indemnification. 

 The Company shall indemnify the members of the Board and the members
of the Committee in connection with the performance of such person’s duties, responsibilities and obligations under the Plan, to the maximum extent permitted by Maryland law. 

 

	 	15.7	Captions. 

 The use of captions in this Plan is for convenience. The captions are not
intended to provide substantive rights. 

  
 22 

	 	15.8	Governing Law. 

 THIS PLAN SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF MARYLAND WITHOUT REGARD TO ANY PRINCIPLES OF CONFLICTS OF LAW WHICH COULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF MARYLAND. 

 

	 	15.9	Gender Neutral 

 Wherever used herein, a pronoun in the masculine gender shall be
considered as including the feminine gender unless the context clearly indicates otherwise. 

  
 23 

 EXHIBIT A 

PERFORMANCE CRITERIA 

Performance-Based Awards intended to qualify as “performance-based” compensation under Section 162(m) of the Code, may be payable
upon the attainment of objective Performance Goals that are established by the Committee and relate to one or more Performance Criteria, in each case on specified date or over any period, up to 10 years, as determined by the Committee. Performance
Criteria may (but need not) be based on the achievement of the specified levels of performance under one or more of the measures set out below relative to the performance of one or more other corporations or indices. 

“Performance Criteria” includes, but is not limited to, the following business criteria (or any combination thereof) with respect to
one or more of the Company, any participating Subsidiary or any division or operating unit thereof: 
  

	 	(i)	pre-tax income, 

  

	 	(ii)	after-tax income, 

  

	 	(iii)	net income (meaning net income as reflected in the Company’s financial reports for the applicable period, on an aggregate, diluted and/or per share basis), 

 

	 	(iv)	operating income or core earnings, if used, and as defined, by the Company as a measure of its operating income, 

  

	 	(v)	cash flow, 

  

	 	(vi)	earnings per share, 

  

	 	(vii)	return on equity, 

  

	 	(viii)	return on invested capital or assets, 

  

	 	(ix)	cash and/or funds available for distribution, 

  

	 	(x)	appreciation in the fair market value of the Common Stock, 

  

	 	(xi)	return on investment, 

  

	 	(xii)	total return to stockholders (meaning the aggregate Common Stock price appreciation and dividends paid (assuming full reinvestment of dividends, unless otherwise determined by the Committee) during the applicable
period), 

  

	 	(xiii)	net earnings growth, 

  

	 	(xiv)	stock appreciation (meaning an increase in the price or value of the Common Stock after the date of grant of an award and during the applicable period), 

 

	 	(xv)	related return ratios, 

  

	 	(xvi)	increase in revenues, 

  
 24 

	 	(xvii)	net earnings, 

  

	 	(xviii)	changes (or the absence of changes) in the per share or aggregate market price of the Company’s Common Stock, 

  

	 	(xix)	number of securities sold, 

  

	 	(xx)	earnings before any one or more of the following items: interest, taxes, depreciation or amortization or other non cash expenses, including share-based compensation expense for the applicable period, as reflected in the
Company’s financial reports for the applicable period, 

  

	 	(xxi)	total revenue growth (meaning the increase in total revenues after the date of grant of an award and during the applicable period, as reflected in the Company’s financial reports for the applicable period),

  

	 	(xxii)	the Company’s published ranking against its peer group (as determined by the Committee) based on total stockholder return, 

  

	 	(xxiii)	funds from operations, 

  

	 	(xxiv)	adjusted funds from operations, 

  

	 	(xxv)	managed assets, and 

  

	 	(xxvi)	investment income from managed assets. 

 Performance Goals may be absolute amounts or
percentages of amounts, may be relative to the performance of other companies or of indexes or may be based upon absolute values or values determined on a per-share basis. 

Except as otherwise expressly provided, all financial terms are used as defined under Generally Accepted Accounting Principles
(“GAAP”) and all determinations shall be made in accordance with GAAP, as applied by the Company in the preparation of its periodic reports to stockholders. 

To the extent permitted by Section 162(m) of the Code, unless the Committee provides otherwise at the time of establishing the Performance
Goals, for each fiscal year of the Company, there shall be objectively determinable adjustments, as determined in accordance with GAAP, to any of the Performance Criteria described above for one or more of the items of gain, loss, profit or expense:
(A) determined to be extraordinary or unusual in nature or infrequent in occurrence, (B) related to the disposal of a segment of a business, (C) related to a change in accounting principle under GAAP, (D) related to discontinued
operations that do not qualify as a segment of a business under GAAP, and (E) attributable to the business operations of any entity acquired by the Company during the fiscal year. 

  
 25

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