Document:

Exhibit 10.1 First Amendment to Amended and Restated Credit Agreement

    EXHIBIT 10.1

     

    

      FIRST
        AMENDMENT TO 

       

      AMENDED
        AND RESTATED CREDIT AGREEMENT

       

      

      THIS
        FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (herein called this
        “Amendment”) made as of April 25, 2007 among FFE TRANSPORTATION SERVICES, INC.,
        a Delaware corporation (“Borrower”), LASALLE BANK NATIONAL ASSOCIATION, as a
        Bank, Collateral Agent and Syndication Agent (“LaSalle”) and COMERICA BANK, a
        Michigan banking corporation, as a Bank, Issuing Bank and Administrative
        Agent
        (individually, as “Administrative Agent” and collectively with “LaSalle”, the
“Bank”).

       

      W
        I T N E
        S S E T H:

      

      WHEREAS,
        Borrower and Bank have entered into that certain Amended and Restated Credit
        Agreement dated as of October 12, 2006 (as heretofore amended, the “Original
        Credit Agreement”), for the purposes and consideration therein expressed,
        pursuant to which Bank became obligated to make loans to Borrower as therein
        provided; and

       

      WHEREAS,
        Borrower and Bank desire to amend the Original Credit Agreement as provided
        herein;

       

      NOW,
        THEREFORE, in consideration of the premises and the mutual covenants and
        agreements contained herein and in the Original Credit Agreement, in
        consideration of the loans which may hereafter be made by Bank to Borrower,
        and
        for other good and valuable consideration, the receipt and sufficiency of
        which
        are hereby acknowledged, the parties hereto do hereby agree as
        follows:

       

       

      ARTICLE
        I.

       

      Definitions
        and References

       

      § 1.1. Terms
        Defined in the Original Credit Agreement.
        Unless
        the context otherwise requires or unless otherwise expressly defined herein,
        the
        terms defined in the Original Credit Agreement shall have the same meanings
        whenever used in this Amendment.

       

      § 1.2. Other
        Defined Terms.
        Unless
        the context otherwise requires, the following terms when used in this Amendment
        shall have the meanings assigned to them in this § 1.2.

       

      “Amendment”
means
        this First Amendment to Credit Agreement.

       

      “Amendment
        Documents”
means,
        collectively, this Amendment and the confirmation by Guarantor with respect
        to
        this Amendment and any other document required to be delivered by Borrower
        pursuant to Article III hereof.

       

      “Credit
        Agreement”
means
        the Original Credit Agreement as amended hereby.

       

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ARTICLE
        II.

       

      Amendments
        to Original Credit Agreement

       

      § 2.1. Dividends
        and Distributions.
        Section
        5.2 (e) (i) of the Original Credit Agreement is hereby amended in its entirety
        to read as follows:

       

      “(i) If
        no
        Default or Potential Default exists, Parent may declare and pay cash dividends
        and/or redeem its common stock from time to time provided (A) that the amount
        of
        such dividends and/or such redemption prices declared or paid during any
        fiscal
        quarter of Parent shall not exceed 100% of the positive Net Income of Parent
        and
        its consolidated subsidiaries for the immediately preceding fiscal quarter;
        provided
        that
        the
        amount of such dividends and/or such redemption prices declared or paid during
        the fiscal quarter of Parent ending June 30, 2007 shall not exceed the sum
        of
        (x) 100% of the positive Net Income of Parent and its consolidated subsidiaries
        for the immediately preceding fiscal quarter, plus (y) $1,900,000, (B) that
        Parent and each other Company would otherwise be in compliance with all other
        financial covenants contained in this Agreement if such financial covenants
        were
        measured as of the date such dividends are paid or such redemptions are made
        after giving effect to such dividends and/or redemptions, and (C) if such
        dividend is made with any proceeds of death benefits received under life
        insurance policies, the amount of such dividend shall not exceed the amount
        of
        the after-tax proceeds of such death benefit.”

       

       

      ARTICLE
        III.

       

      Conditions
        of Effectiveness

       

      § 3.1. Effective
        Date.
        This
        Amendment shall become effective as of the date first above written when
        and
        only when Bank shall have received, at Bank’s office,

       

      (a) a
        duly
        executed counterpart of this Amendment, 

       

      (b) a
        duly
        executed Consent and Agreement from Guarantor in the form of Exhibit A hereto,
        and

       

      (c) each
        other document to be executed and delivered by Borrower pursuant hereto or
        thereto.

       

       

      ARTICLE
        IV.

       

      Representations
        and Warranties

       

      § 4.1. Representations
        and Warranties of Borrower.
        In
        order to induce Bank to enter into this Amendment,
        Borrower represents and warrants to Bank that:

       

      (a) The
        representations and warranties contained in Article IV of the Original Credit
        Agreement are true and correct at and as of the time of the effectiveness
        hereof;

       

      (b) Borrower
        is duly authorized to execute and deliver this Amendment and the other Amendment
        Documents and is and will continue to be duly authorized to borrow and to
        perform its obligations under the Credit Agreement. Borrower has duly taken
        all
        corporate action necessary to authorize the execution and delivery of this
        Amendment and the other Amendment Documents and to authorize the performance
        of
        the obligations of Borrower hereunder and thereunder;

       

      (c) The
        execution and delivery by Borrower of this Amendment and the other Amendment
        Documents, the performance by Borrower of its obligations hereunder and
        thereunder and the consummation of the transactions contemplated hereby do
        not
        and will not conflict with any provision of law, statute, rule or regulation
        or
        of the articles of incorporation and bylaws of Borrower, or of any material
        agreement, judgment, license, order or permit applicable to or binding upon
        Borrower, or result in the creation of any lien, charge or encumbrance upon
        any
        assets or properties of Borrower. Except for those which have been duly
        obtained, no consent, approval, authorization or order of any court or
        governmental authority or third party is required in connection with the
        execution and delivery by Borrower of this Amendment and the other Amendment
        Documents or to consummate the transactions contemplated hereby and
        thereby;

       

      (d) When
        duly
        executed and delivered, each of this Amendment and the other Amendment Documents
        will be a legal and binding instrument and agreement of Borrower, enforceable
        in
        accordance with its terms, except as limited by bankruptcy, insolvency and
        similar laws applying to creditors’ rights generally and by principles of equity
        applying to creditors’ rights generally; and

       

      (e) The
        audited annual consolidated financial statements of Borrower dated as of
        December 31, 2006 fairly presents the consolidated financial position at
        such
        date and the consolidated statement of operations and the changes in
        consolidated financial position for the periods ending on such dates for
        Borrower. Copies of such financial statements have heretofore been delivered
        to
        Bank. Since such date no material adverse change has occurred in the financial
        condition or businesses or in the consolidated financial condition or businesses
        of Borrower.

       

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ARTICLE
        V.

       

      Miscellaneous

       

      §
        5.1. Ratification
        of Agreement.
        The
        Original Credit Agreement as hereby amended is hereby ratified and confirmed
        in
        all respects. Any reference to the Credit Agreement in any Loan Document
        shall
        be deemed to refer to this Amendment also. The execution, delivery and
        effectiveness of this Amendment and the other Amendment Documents shall not,
        except as expressly provided herein, operate as a waiver of any right, power
        or
        remedy of Bank under the Credit Agreement or any other Loan Document nor
        constitute a waiver of any provision of the Credit Agreement or any other
        Loan
        Document.

       

      §
        5.2. Survival
        of Agreements.
        All
        representations, warranties, covenants and agreements of Borrower herein
        shall
        survive the execution and delivery of this Amendment and the performance
        hereof,
        and shall further survive until all of the Obligations are paid in full.
        All
        statements and agreements contained in any certificate or instrument delivered
        by Borrower hereunder or under the Credit Agreement to Bank shall be deemed
        to
        constitute representations and warranties by, or agreements and covenants
        of,
        Borrower under this Amendment and under the Credit Agreement.

       

      §
        5.3. Loan
        Documents.
        This
        Amendment and the other Amendment Documents are each a Loan Document, and
        all
        provisions in the Credit Agreement pertaining to Loan Documents apply hereto
        and
        thereto.

       

      §
        5.4. Governing
        Law.
        This
        Amendment shall be governed by and construed in accordance with the laws
        of the
        State of Texas and any applicable laws of the United States of America in
        all
        respects, including construction, validity and performance.

       

      §
        5.5. Counterparts;
        Fax.
        This
        Amendment may be separately executed in counterparts and by the different
        parties hereto in separate counterparts, each of which when so executed shall
        be
        deemed to constitute one and the same Amendment. This Amendment may be duly
        executed by facsimile or other electronic transmission.

       

      THIS
        AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN
        THE
        PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS,
        OR
        SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

       

      THERE
        ARE
        NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

       

      

      [The
        remainder of this page is intentionally left blank.]

      
        
          
            

             

          

           

        

        
           

          
            

          

        

        
           

          
          

        

      

      IN
        WITNESS WHEREOF, this Amendment is executed as of the date first above
        written.

      

      

      

      

      

      FFE
        TRANSPORTATION SERVICES, INC., 

      as
        Borrower

      

      

      

      By:/s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      

      

      

      COMERICA
        BANK,

      as
        a
        Bank, as Issuing Bank

      and
        as
        Administrative Agent

      

      

      

      By:/s/
        Donald P. Hellman 

      Donald
        P.
        Hellman

      Senior
        Vice President

      

      

      

      

      LASALLE
        BANK NATIONAL ASSOCIATION,

      as
        a
        Bank, as Collateral Agent and

      as
        Syndication Agent

      

      

      

      By:/s/
        Christopher L. Hursey    

      Name:
        Christopher L. Hursey

      Title:
        Vice President

      
        
          
             

          

           

        

        
           

          
            

          

        

        
           

          
          

        

      

      EXHIBIT
        A

      

       

      CONSENT
        AND AGREEMENT

       

      Each
        of
        the undersigned Guarantors hereby (i) consents to the provisions of this
        Amendment and the transactions contemplated herein, (ii) ratifies and
        confirms the Amended and Restated Guaranty and Amended and Restated Security
        Agreement, each dated as of October 12, 2006, made by them for the benefit
        of
        Bank pursuant to the Credit Agreement, (iii) ratifies and confirms all
        other Loan Documents made by them for the benefit of Bank, (iv) agrees that
        all of their respective obligations and covenants thereunder shall remain
        unimpaired by the execution and delivery of this Amendment and the other
        documents and instruments executed in connection herewith, and (v) agrees
        that such Guaranty, such Security Agreement and such other Loan Documents
        shall
        remain in full force and effect.

       

      

      

      

      FROZEN
        FOOD EXPRESS INDUSTRIES, INC.

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      FFE,
        INC.

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      

      CONWELL
        CORPORATION

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      FX
        HOLDINGS, INC. (formerly names AIRPRO HOLDINGS, INC.)

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      

      LISA
        MOTOR LINES, INC.

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      

      FROZEN
        FOOD EXPRESS, INC.

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      

      CONWELL
        CARTAGE, INC.

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      

      MIDDLETON
        TRANSPORTATION COMPANY

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      COMPRESSORS
        PLUS, INC.

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      

      FFE
        LOGISTICS, INC.

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice President

      

      

      CONWELL
        LLC

      

      

      By:
        /s/
        Thomas G. Yetter    

      Thomas
        G.
        Yetter

      Senior
        Vice PresidentExhibit 10.1

    Exhibit
      10.1

    
 

    General
      Electric Company 2007 Long-Term Incentive Plan

    

     

    SECTION
      1.    PURPOSE 

     

    The
      purposes of this GE 2007 Long-Term Incentive Plan (the “Plan”) are to encourage
      selected Salaried Employees of General Electric Company (together with any
      successor thereto, the “Company”) and its Affiliates (as defined below) to
      acquire a proprietary interest in the growth and performance of the Company,
      to
      generate an increased incentive to contribute to the Company’s future success
      and prosperity, thus enhancing the value of the Company for the benefit of
      its
      shareowners, and to enhance the ability of the Company and its Affiliates to
      attract and retain exceptionally qualified individuals upon whom, in large
      measure, the sustained progress, growth and profitability of the Company depend.
      

     

    SECTION
      2.    DEFINITIONS 

     

    As
      used
      in the Plan, the following terms shall have the meanings set forth below:

     

    (a) “Affiliate”
      shall mean (i) any entity that, directly or through one or more
      intermediaries, is controlled by the Company and (ii) any entity in which
      the Company has a significant equity interest, as determined by the Committee.
      

     

    (b) “Award”
      shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted
      Stock Unit, Performance Award, Dividend Equivalent, or Other Stock-Based Award
      granted under the Plan. 

     

    (c) “Award
      Agreement” shall mean any written agreement, contract, or other instrument or
      document, including an electronic communication, as may from time to time be
      designated by the Company as evidencing any Award granted under the Plan.

     

    (d) “Code”
      shall mean the Internal Revenue Code of 1986, as amended from time to time.
      

     

    (e) “Committee”
      shall mean a committee of the Board of Directors of the Company, acting in
      accordance with the provisions of Section 3, designated by the Board to
      administer the Plan and composed of not less than three non-employee directors.
      

     

    (f) “Dividend
      Equivalent” shall mean any right granted under Section 6(e) of the Plan.

     

    (g) “Fair
      Market Value” shall mean, with respect to any Shares or other securities, the
      closing price of a Share on the date as of which the determination is being
      made
      or as otherwise determined in a manner specified by the Committee. 

     

    (h) “Incentive
      Stock Option” shall mean an option granted under Section 6(a) of the Plan
      that is intended to meet the requirements of Sections 422 of the Code, or any
      successor provision thereto. 

     

    (i) “1990
      Plan” shall mean the Company’s 1990 Long-Term Incentive Plan. 

     

    (j) “Non-Qualified
      Stock Option” shall mean an option granted under Section 6(a) of the Plan
      that is not intended to be an Incentive Stock Option. 

     

    (k) “Option”
      shall mean an Incentive Stock Option or a Non-Qualified Stock Option.

     

    (l) “Other
      Stock-Based Award” shall mean any right granted under Section 6(f) of the
      Plan. 

     

    (m) “Participant”
      shall mean a Salaried Employee designated to be granted an Award under the
      Plan.

     

    (n) “Performance
      Award” shall mean any right granted under Section 6(d) of the Plan.

     

    (o) “Performance
      Criteria” shall mean any quantitative and/or qualitative measures, as determined
      by the Committee, which may be used to measure the level of performance of
      the
      Company or any individual Participant during a Performance Period, including
      any
      Qualifying Performance Criteria. 

     

    (p) “Performance
      Period” shall mean any period as determined by the Committee in its sole
      discretion. 

     

    (q) “Person”
      shall mean any individual, corporation, partnership, association, joint-stock
      company, trust, unincorporated organization, or government or political
      subdivision thereof. 

     

    (r) “Qualifying
      Performance Criteria” shall mean one or more of the following performance
      criteria, either individually, alternatively or in any combination, applied
      to
      either the company as a whole or to a business unit or related company, and
      measured either annually or cumulatively over a period of years, on an absolute
      basis or relative to a pre-established target, to a previous year’s results or
      to a designated comparison group, in each case as specified by the Committee
      in
      the Award: sales, revenue, net income, net earnings, earnings per share, return
      on total capital, return on equity, cash flow, operating profit and margin
      rate,
      subject to adjustment by the Committee to remove the effect of charges for
      restructurings, discontinued operations, extraordinary items and all items
      of
      gain, loss or expense determined to be extraordinary or unusual in nature or
      infrequent in occurrence, related to the disposal of a segment or a business,
      or
      related to a change in accounting principle or otherwise. 

     

    (s) “Restricted
      Securities” shall mean Awards of Restricted Stock or other Awards under which
      issued and outstanding Shares are held subject to certain restrictions.

     

    (t) “Restricted
      Stock” shall mean any award of Shares granted under Section 6(c) of the
      Plan. 

     

    (u) “Restricted
      Stock Unit” shall mean any right granted under Section 6(c) of the Plan
      that is denominated in Shares. 

     

    (v) “Salaried
      Employee” shall mean any salaried employee of the Company or of any Affiliate.

     

    (w) “Shares”
      shall mean the common shares of the Company, $0.06 par value, and such other
      securities as may become the subject of Awards, or become subject to Awards,
      pursuant to an adjustment made under Section 4(b) of the Plan.

     

    (x) “Stock
      Appreciation Right” shall mean any right granted under Section 6(b) of the
      Plan. 

     

    SECTION
      3.    ADMINISTRATION 

     

    Except
      as otherwise provided herein, the Plan shall be administered by the Committee,
      which shall have the power to interpret the Plan and to adopt such rules and
      guidelines for implementing the terms of the Plan as it may deem appropriate.
      The Committee shall have the ability to modify the Plan provisions, to the
      extent necessary, or delegate such authority, to accommodate any changes in
      law
      and regulations in jurisdictions in which Participants will receive Awards.
      

     

    (a) Subject
      to the terms of the Plan and applicable law, the Committee shall have full
      power
      and authority to: 

     

    (i) designate
      Participants; 

     

    (ii) determine
      the type or types of Awards to be granted to each Participant under the Plan;
      

     

    (iii) determine
      the number of Shares to be covered by (or with respect to which payments,
      rights, or other matters are to be calculated in connection with) Awards;

     

    (iv) determine
      the terms and conditions of any Award; 

     

    (v) determine
      whether, to what extent, and under what circumstances Awards may be settled
      or
      exercised in cash, Shares, other securities, or other Awards, or canceled,
      forfeited, or suspended, and the method or methods by which Awards may be
      settled, exercised, canceled, forfeited, or suspended; 

     

    (vi) determine
      whether, to what extent, and under what circumstances cash, Shares, other
      securities, other Awards, and other amounts payable with respect to an Award
      under the Plan shall be deferred either automatically or at the election of
      the
      holder thereof or of the Committee; 

     

    (vii) interpret
      and administer the Plan and any instrument or agreement relating to, or Award
      made under, the Plan; 

     

    (viii) establish,
      amend, suspend, or waive such rules and guidelines; 

     

    (ix) appoint
      such agents as it shall deem appropriate for the proper administration of the
      Plan; 

     

    (x) make
      any other determination and take any other action that the Committee deems
      necessary or desirable for the administration of the Plan; and 

     

    (xi) correct
      any defect, supply any omission, or reconcile any inconsistency in the Plan
      or
      any Award in the manner and to the extent it shall deem desirable to carry
      the
      Plan into effect. 

     

    (b) Unless
      otherwise expressly provided in the Plan, all designations, determinations,
      interpretations, and other decisions under or with respect to the Plan or any
      Award shall be within the sole discretion of the Committee, may be made at
      any
      time, and shall be final, conclusive, and binding upon all Persons, including
      the Company, any Affiliate, any Participant, any holder or beneficiary of any
      Award, any shareowner, and any employee of the Company or of any Affiliate.
      Actions of the Committee may be taken by: 

     

    (i) the
      Chairman of the Committee; 

     

    (ii) a
      subcommittee, designated by the Committee; 

     

    (iii) the
      Committee but with one or more members abstaining or recusing himself or herself
      from acting on the matter, so long as two or more members remain to act on
      the
      matter. Such action, authorized by such a subcommittee or by the Committee
      upon
      the abstention or recusal of such members, shall be the action of the Committee
      for purposes of the Plan; or 

     

    (iv) one
      or
      more officers or managers of the Company or any Affiliate, or a committee of
      such officers or managers whose authority is subject to such terms and
      limitations set forth by the Committee, and only with respect to Salaried
      Employees who are not officers or directors of the Company for purposes of
      Section 16 of the Securities Exchange Act of 1934, as amended. This
      delegation shall include modifications necessary to accommodate changes in
      the
      laws or regulations of jurisdictions outside the U.S. 

     

    SECTION
      4.    SHARES AVAILABLE FOR AWARDS 

     

    (a) SHARES
      AVAILABLE. Subject to adjustment as provided in Section 4(b): 

     

    (i) The
      total number of shares of Common Stock reserved and available for delivery
      pursuant to Awards granted under the Plan shall be 500,000,000; of which no
      more
      than 250,000,000 may be available for Awards granted in any form provided for
      under the Plan other than Options or Stock Appreciation Rights. If any Shares
      covered by an Award granted under the Plan, or to which such an Award or award
      relates, are forfeited, or if an Award or award otherwise terminates without
      the
      delivery of Shares or of other consideration, then the Shares covered by such
      Award or award, or to which such Award or award relates, or the number of Shares
      otherwise counted against the aggregate number of Shares available under the
      Plan with respect to such Award or award, to the extent of any such forfeiture
      or termination, shall again be available for granting Awards under the Plan.
      Notwithstanding the foregoing but subject to adjustment as provided in
      Section 4(b), no more than 500,000,000 Shares shall be available for
      delivery pursuant to the exercise of Incentive Stock Options. 

     

       Except
      as otherwise provided herein, any Award made under the 1990 Plan before the
      expiration of the 1990 Plan shall continue to be subject to the terms and
      conditions of the 1990 Plan and the applicable Award Agreement. 

     

    (ii) ACCOUNTING
      FOR AWARDS. For purposes of this Section 4, 

     

    (A) if
      an
      Award (other than a Dividend Equivalent) is denominated in Shares, the number
      of
      Shares covered by such Award, or to which such Award relates, shall be counted
      on the date of grant of such Award against the aggregate number of Shares
      available for granting Awards under the Plan; and 

     

    (B) Dividend
      Equivalents denominated in Shares and Awards not denominated, but potentially
      payable, in Shares shall be counted against the aggregate number of Shares
      available for granting Awards under the Plan in such amount and at such time
      as
      the Dividend Equivalents and such Awards are settled in Shares, PROVIDED,
      HOWEVER, that Awards that operate in tandem with (whether granted simultaneously
      with or at a different time from), or that are substituted for, other Awards
      or
      awards granted under the 1990 Plan may only be counted once against the
      aggregate number of shares available, and the Committee shall adopt procedures,
      as it deems appropriate, in order to avoid double counting. Any Shares that
      are
      delivered by the Company, and any Awards that are granted by, or become
      obligations of, the Company through the assumption by the Company or an
      Affiliate of, or in substitution for, outstanding awards previously granted
      by
      an acquired company, shall not be counted against the Shares available for
      granting Awards under this Plan. 

     

    (C) Notwithstanding
      anything herein to the contrary, any Shares related to Awards which terminate
      by
      expiration, forfeiture, cancellation, or otherwise without the issuance of
      such
      Shares, are settled in cash in lieu of Shares, or are exchanged with the
      Committee’s permission, prior to the issuance of Shares, for Awards not
      involving Shares, shall be available again for grant under this Plan. Shares
      subject to an Award under the Plan may not again be made available for issuance
      under the Plan if such Shares are: (x) Shares that were subject to an
      Option or a stock-settled Stock Appreciation Right and were not issued upon
      the
      net settlement or net exercise of such Option or Stock Appreciation Right,
      (y) Shares delivered to or withheld by the Company to pay the exercise
      price or the withholding taxes under Options or Stock Appreciation Rights,
      or
      (z) Shares repurchased on the open market with the proceeds of an Option
      exercise. 

     

    (iii) SOURCES
      OF SHARES DELIVERABLE UNDER AWARDS. Any Shares delivered pursuant to an Award
      may consist, in whole or in part, of authorized and unissued Shares or of
      treasury Shares. 

     

    (b) ADJUSTMENTS.
      

     

    (i) In
      the
      event that the Committee shall determine that any dividend or other distribution
      (whether in the form of cash, Shares, or other securities), recapitalization,
      stock split, reverse stock split, reorganization, merger, consolidation,
      split-up, spin-off, combination, repurchase, or exchange of Shares or other
      securities of the Company, issuance of warrants or other rights to purchase
      Shares or other securities of the Company, or other similar corporate
      transaction or event constitutes an equity restructuring transaction, as that
      term is defined in Statement of Financial Accounting Standards No. 123
      (revised) or otherwise affects the Shares, then the Committee shall adjust
      the
      following in a manner that is determined by the Committee to be appropriate
      in
      order to prevent dilution or enlargement of the benefits or potential benefits
      intended to be made available under the Plan: 

     

    (A) the
      number and type of Shares or other securities which thereafter may be made
      the
      subject of Awards including the limit specified in Section 4(a)(i)
      regarding the number of shares that may be granted in the form of Restricted
      Stock, Restricted Stock Units, Performance Awards, or Other Stock-Based Awards;
      

     

    (B) the
      number and type of Shares or other securities subject to outstanding Awards;
      

     

    (C) the
      number and type of Shares or other securities specified as the annual
      per-participant limitation under Section 6(g)(v) and (vi); 

     

    (D) the
      grant, purchase, or exercise price with respect to any Award, or, if deemed
      appropriate, make provision for a cash payment to the holder of an outstanding
      Award; and 

     

    (E) other
      value determinations applicable to outstanding awards. 

     

       PROVIDED,
      HOWEVER, in each case, that with respect to Awards of Incentive Stock Options
      no
      such adjustment shall be authorized to the extent that such authority would
      cause the Plan to violate Sections 422(b)(1) of the Code or any successor
      provision thereto; and PROVIDED FURTHER, HOWEVER, that the number of Shares
      subject to any Award denominated in Shares shall always be a whole number.
      

     

    (ii) ADJUSTMENTS
      OF AWARDS UPON CERTAIN ACQUISITIONS. In the event the Company or any Affiliate
      shall assume outstanding employee awards or the right or obligation to make
      future such awards in connection with the acquisition of another business or
      another corporation or business entity, the Committee may make such adjustments,
      not inconsistent with the terms of the Plan, in the terms of Awards as it shall
      deem appropriate in order to achieve reasonable comparability or other equitable
      relationship between the assumed awards and the Awards granted under the Plan
      as
      so adjusted. 

     

    (iii) ADJUSTMENTS
      OF AWARDS UPON THE OCCURRENCE OF CERTAIN UNUSUAL OR NONRECURRING EVENTS. The
      Committee shall be authorized to make adjustments in the terms and conditions
      of, and the criteria included in, Awards in recognition of unusual or
      nonrecurring events affecting the Company, any Affiliate, or the financial
      statements of the Company or any Affiliate, or of changes in applicable laws,
      regulations, or accounting principles, whenever the Committee determines that
      such adjustments are appropriate in order to prevent dilution or enlargement
      of
      the benefits or potential benefits to be made available under the Plan.

     

    SECTION
      5.    ELIGIBILITY 

     

    Any
      Salaried Employee, including any officer or employee-director of the Company
      or
      of any Affiliate, who is not a member of the Committee shall be eligible to
      be
      designated a Participant. 

     

    SECTION
      6.    AWARDS 

     

    (a) OPTIONS.
      The Committee is hereby authorized to grant Options to Participants with the
      following terms and conditions and with such additional terms and conditions,
      in
      either case not inconsistent with the provisions of the Plan, as the Committee
      shall determine: 

     

    (i) EXERCISE
      PRICE. The purchase price per Share purchasable under an Option shall be
      determined by the Committee; provided, however, and except as provided in
      Section 4(b), that such purchase price shall not be less than 100% of the
      Fair Market Value of a Share on the date of grant of such Option. 

     

    (ii) OPTION
      TERM. The term of each Option shall not exceed ten (10) years from the date
      of grant. 

     

    (iii) TIME
      AND METHOD OF EXERCISE. The Committee shall establish in the applicable Award
      Agreement the time or times at which an Option may be exercised in whole or
      in
      part, and the method or methods by which, and the form or forms, including,
      without limitation, cash, Shares, or other Awards, or any combination thereof,
      having a Fair Market Value on the exercise date equal to the relevant exercise
      price, in which, payment of the exercise price with respect thereto may be
      made
      or deemed to have been made. 

     

    (iv) INCENTIVE
      STOCK OPTIONS. The terms of any Incentive Stock Option granted under the Plan
      shall be designed to comply in all respects with the provisions of Sections
      422
      of the Code, or any successor provision thereto, and any regulations promulgated
      thereunder. Notwithstanding anything in this Section 6(a) to the contrary,
      Options designated as Incentive Stock Options shall not be eligible for
      treatment under the Code as Incentive Stock Options (and will be deemed to
      be
      Non-Qualified Stock Options) to the extent that either (1) the aggregate
      Fair Market Value of Shares (determined as of the time of grant) with respect
      to
      which such Options are exercisable for the first time by the Participant during
      any calendar year (under all plans of the Company and any subsidiary) exceeds
      $100,000, taking Options into account in the order in which they were granted,
      or (2) such Options otherwise remain exercisable but are not exercised
      within three (3) months of termination of employment (or such other period
      of time provided in Section 422 of the Code). 

     

    (b) STOCK
      APPRECIATION RIGHTS. The Committee is hereby authorized to grant Stock
      Appreciation Rights to Participants. Subject to the terms of the Plan and any
      applicable Award Agreement, a Stock Appreciation Right granted under the Plan
      shall confer on the holder thereof a right to receive, upon exercise thereof,
      the excess of (i) the Fair Market Value of one Share on the date of
      exercise over (ii) the grant price of the right as specified by the
      Committee 

     

    (i) GRANT
      PRICE. Shall be determined by the Committee, provided, however, and except
      as
      provided in Section 4(b), that such price shall not be less than 100% of
      the Fair Market Value of one Share on the date of grant of the Stock
      Appreciation Right, except that if a Stock Appreciation Right is at any time
      granted in tandem to an Option, the grant price of the Stock Appreciation Right
      shall not be less than the exercise price of such Option. 

     

    (ii) TERM.
      The term of each Stock Appreciation Right shall not exceed ten (10) years
      from the date of grant. 

     

    (iii) TIME
      AND METHOD OF EXERCISE. The Committee shall establish in the applicable Award
      Agreement the time or times at which a Stock Appreciation Right may be exercised
      in whole or in part. 

     

    (c) RESTRICTED
      STOCK AND RESTRICTED STOCK UNITS. 

     

    (i) ISSUANCE.
      The Committee is hereby authorized to grant Awards of Restricted Stock and
      Restricted Stock Units to Participants. 

     

    (ii) RESTRICTIONS.
      Shares of Restricted Stock and Restricted Stock Units shall be subject to such
      restrictions as the Committee may establish in the applicable Award Agreement
      (including, without limitation, any limitation on the right to vote a Share
      of
      Restricted Stock or the right to receive any dividend or other right), which
      restrictions may lapse separately or in combination at such time or times,
      in
      such installments or otherwise, as the Committee may deem appropriate.
      Unrestricted Shares, evidenced in such manner as the Committee shall deem
      appropriate, shall be delivered to the holder of Restricted Stock promptly
      after
      such restrictions have lapsed. 

     

    (iii) REGISTRATION.
      Any Restricted Stock or Restricted Stock Units granted under the Plan may be
      evidenced in such manner as the Committee may deem appropriate, including,
      without limitation, book-entry registration or issuance of a stock certificate
      or certificates. In the event any stock certificate is issued in respect of
      Shares of Restricted Stock granted under the Plan, such certificate shall be
      registered in the name of the Participant and shall bear an appropriate legend
      referring to the terms, conditions, and restrictions applicable to such
      Restricted Stock. 

     

    (iv) FORFEITURE.
      Upon termination of employment during the applicable restriction period, except
      as determined otherwise by the Committee, all Shares of Restricted Stock and
      all
      Restricted Stock Units still, in either case, subject to restriction shall
      be
      forfeited and reacquired by the Company. 

     

    (d) PERFORMANCE
      AWARDS. The Committee is hereby authorized to grant Performance Awards to
      Participants. Performance Awards include arrangements under which the grant,
      issuance, retention, vesting and/or transferability of any Award is subject
      to
      such Performance Criteria and such additional conditions or terms as the
      Committee may designate. Subject to the terms of the Plan and any applicable
      Award Agreement, a Performance Award granted under the Plan: 

     

    (i) may
      be
      denominated or payable in cash, Shares (including, without limitation,
      Restricted Stock), other securities, or other Awards; and 

     

    (ii) shall
      confer on the holder thereof rights valued as determined by the Committee and
      payable to, or exercisable by, the holder of the Performance Award, in whole
      or
      in part, upon the achievement of such performance goals during such Performance
      Periods as the Committee shall establish. 

     

    (e) DIVIDEND
      EQUIVALENTS. The Committee is hereby authorized to grant to Participants Awards
      under which the holders thereof shall be entitled to receive payments equivalent
      to dividends or interest with respect to a number of Shares determined by the
      Committee, and the Committee may provide that such amounts (if any) shall be
      deemed to have been reinvested in additional Shares or otherwise reinvested.
      Subject to the terms of the Plan and any applicable Award Agreement, such Awards
      may have such terms and conditions as the Committee shall determine.

     

    (f) OTHER
      STOCK-BASED AWARDS. The Committee is hereby authorized to grant to Participants
      such other Awards that are denominated or payable in, valued in whole or in
      part
      by reference to, or otherwise based on or related to, Shares (including, without
      limitation, securities convertible into Shares), as are deemed by the Committee
      to be consistent with the purposes of the Plan, provided, however, that such
      grants must comply with applicable law. Subject to the terms of the Plan and
      any
      applicable Award Agreement, the Committee shall determine the terms and
      conditions of such Awards. Shares or other securities delivered pursuant to
      a
      purchase right granted under this Section 6(f) shall be purchased for such
      consideration, which may be paid by such method or methods and in such form
      or
      forms, including, without limitation, cash, Shares, other securities, or other
      Awards, or any combination thereof, as the Committee shall determine, the value
      of which consideration, as established by the Committee, and except as provided
      in Section 4(b), shall not be less than the Fair Market Value of such
      Shares or other securities as of the date such purchase right is. 

     

    (g) GENERAL.
      

     

    (i) NO
      CASH
      CONSIDERATION FOR AWARDS. Awards shall be granted for no cash consideration
      or
      for such minimal cash consideration as may be required by applicable law.

     

    (ii) AWARDS
      MAY BE GRANTED SEPARATELY OR TOGETHER. Awards may, in the discretion of the
      Committee, be granted either alone or in addition to, in tandem with, or in
      substitution for any other Award or any award granted under any other plan
      of
      the Company or any Affiliate. Awards granted in addition to or in tandem with
      other Awards, or in addition to or in tandem with awards granted under any
      other
      plan of the Company or any Affiliate, may be granted either at the same time
      as
      or at a different time from the grant of such other Awards or awards.

     

    (iii) FORMS
      OF PAYMENT UNDER AWARDS. Subject to the terms of the Plan and of any applicable
      Award Agreement, payments or transfers to be made by the Company or an Affiliate
      upon the grant, exercise, or payment of an Award may be made in such form or
      forms as the Committee shall determine, including, without limitation, cash,
      Shares, rights in or to Shares issuable under the Award or other Awards, other
      securities, or other Awards, or any combination thereof, and may be made in
      a
      single payment or transfer, in installments, or on a deferred basis, in each
      case in accordance with rules and procedures established by the Committee.
      Such
      rules and procedures may include, without limitation, provisions for the payment
      or crediting of reasonable interest on installment or deferred payments or
      the
      grant or crediting of Dividend Equivalents in respect of installment or deferred
      payments. 

     

    (iv) LIMITS
      ON TRANSFER OF AWARDS. Except as provided by the Committee, no Award and no
      right under any such Award, shall be assignable, alienable, saleable, or
      transferable by a Participant otherwise than by will or by the laws of descent
      and distribution provided, however, that, if so determined by the Committee,
      a
      Participant may, in the manner established by the Committee, designate a
      beneficiary or beneficiaries to exercise the rights of the Participant with
      respect to any Award upon the death of the Participant. Each Award, and each
      right under any Award, shall be exercisable, during the Participant’s lifetime,
      only by the Participant or, if permissible under applicable law, by the
      Participant’s guardian or legal representative. No Award and no right under any
      such Award, may be pledged, alienated, attached, or otherwise encumbered, and
      any purported pledge, alienation, attachment, or encumbrance thereof shall
      be
      void and unenforceable against the Company or any Affiliate. 

     

    (v) PER-PERSON
      LIMITATION ON OPTIONS AND SARs. The number of Shares with respect to which
      Options and Stock Appreciation Rights may be granted under the Plan during
      any
      three-year period to an individual Participant shall not exceed 9,000,000
      Shares, subject to adjustment as provided in Section 4(b). 

     

    (vi) PER-PERSON
      LIMITATION ON CERTAIN AWARDS. Other than Options and Stock Appreciation Rights,
      the aggregate number of Shares with respect to which Restricted Stock,
      Restricted Stock Units, Performance Awards and Other Stock-Based Awards may
      be
      granted under the Plan during any three-year period to an individual Participant
      shall not exceed 3,000,000 Shares, subject to adjustment as provided in
      Section 4(b). 

     

    (vii) CONDITIONS
      AND RESTRICTIONS UPON SECURITIES SUBJECT TO AWARDS. The Committee may provide
      that the Shares issued upon exercise of an Option or Stock Appreciation Right
      or
      otherwise subject to or issued under an Award shall be subject to such further
      agreements, restrictions, conditions or limitations as the Committee in its
      discretion may specify prior to the exercise of such Option or Stock
      Appreciation Right or the grant, vesting or settlement of such Award, including
      without limitation, conditions on vesting or transferability and forfeiture
      or
      repurchase provisions or provisions on payment of taxes arising in connection
      with an Award. Without limiting the foregoing, such restrictions may address
      the
      timing and manner of any resales by the Participant or other subsequent
      transfers by the Participant of any Shares issued under an Award, including
      without limitation: (A) restrictions under an insider trading policy or
      pursuant to applicable law, (B) restrictions designed to delay and/or
      coordinate the timing and manner of sales by Participant and holders of other
      Company equity compensation arrangements, (C) restrictions as to the use of
      a specified brokerage firm for such resales or other transfers and
      (D) provisions requiring Shares to be sold on the open market or to the
      Company in order to satisfy tax withholding or other obligations. 

     

    (viii) SHARE
      CERTIFICATES. All Shares or other securities delivered under the Plan pursuant
      to any Award or the exercise thereof shall be subject to such stop transfer
      orders and other restrictions as the Committee may deem advisable under the
      Plan
      or the rules, regulations, and other requirements of the Securities and Exchange
      Commission, any stock exchange upon which such Shares or other securities are
      then listed, and any applicable Federal, state, or local securities laws, and
      the Committee may cause a legend or legends to be put on any such certificates
      to make appropriate reference to such restrictions. 

     

    SECTION
      7.    AMENDMENT AND TERMINATION 

     

    Except
      to the extent prohibited by applicable law and unless otherwise expressly
      provided in an Award Agreement or in the Plan: 

     

    (a) AMENDMENTS
      TO THE PLAN. The Board of Directors of the Company may amend, alter, suspend,
      discontinue, or terminate the Plan, in whole or in part; provided, however,
      that
      without the prior approval of the Company’s shareowners, no material amendment
      shall be made if shareowner approval is required by law, regulation, or stock
      exchange, and; PROVIDED, FURTHER, that, notwithstanding any other provision
      of
      the Plan or any Award Agreement, no such amendment, alteration, suspension,
      discontinuation, or termination shall be made without the approval of the
      shareowners of the Company that would: 

     

    (i) increase
      the total number of Shares available for Awards under the Plan, except as
      provided in Section 4 hereof; or 

     

    (ii) except
      as provided in Section 4(b), permit Options, Stock Appreciation Rights, or
      other Stock-Based Awards encompassing rights to purchase Shares to be repriced,
      replaced, or regranted through cancellation, or by lowering the Option Price
      of
      a previously granted Option or the grant price of a previously granted Stock
      Appreciation Right, or the purchase price of a previously granted Other
      Stock-Based Award. 

     

    (b) AMENDMENTS
      TO AWARDS. The Committee may waive any conditions or rights under, amend any
      terms of, or amend, alter, suspend, discontinue, or terminate, any Awards
      theretofore granted, prospectively or retroactively. No such amendment or
      alteration shall be made which would impair the rights of any Participant,
      without such Participant’s consent, under any Award theretofore granted,
      provided that no such consent shall be required with respect to any amendment
      or
      alteration if the Committee determines in its sole discretion that such
      amendment or alteration either (i) is required or advisable in order for the
      Company, the Plan or the Award to satisfy or conform to any law or regulation
      or
      to meet the requirements of any accounting standard, or (ii) is not reasonably
      likely to significantly diminish the benefits provided under such Award.

     

    SECTION
      8.    GENERAL PROVISIONS 

     

    (a) NO
      RIGHTS TO AWARDS. No Salaried Employee, Participant or other Person shall have
      any claim to be granted any Award under the Plan, or, having been selected
      to
      receive an Award under this Plan, to be selected to receive a future Award,
      and
      further there is no obligation for uniformity of treatment of Salaried
      Employees, Participants, or holders or beneficiaries of Awards under the Plan.
      The terms and conditions of Awards need not be the same with respect to each
      recipient. 

     

    (b) WITHHOLDING.
      The Company or any Affiliate shall be authorized to withhold from any Award
      granted or any payment due or transfer made under any Award or under the Plan
      the amount (in cash, Shares, other securities, or other Awards) of withholding
      taxes due in respect of an Award, its exercise, or any payment or transfer
      under
      such Award or under the Plan and to take such other action as may be necessary
      in the opinion of the Company or Affiliate to satisfy statutory withholding
      obligations for the payment of such taxes. 

     

    (c) NO
      LIMIT ON OTHER COMPENSATION ARRANGEMENTS. Nothing contained in the Plan shall
      prevent the Company or any Affiliate from adopting or continuing in effect
      other
      or additional compensation arrangements, and such arrangements may be either
      generally applicable or applicable only in specific cases. 

     

    (d) NO
      RIGHT TO EMPLOYMENT. The grant of an Award shall not constitute an employment
      contract nor be construed as giving a Participant the right to be retained
      in
      the employ of the Company or any Affiliate. Further, the Company or an Affiliate
      may at any time dismiss a Participant from employment, free from any liability,
      or any claim under the Plan, unless otherwise expressly provided in the Plan
      or
      in any Award Agreement. 

     

    (e) GOVERNING
      LAW. The validity, construction, and effect of the Plan and any rules and
      regulations relating to the Plan shall be determined in accordance with the
      laws
      of the State of New York and applicable Federal law without regard to conflict
      of law. 

     

    (f) SEVERABILITY.
      If any provision of the Plan or any Award is or becomes or is deemed to be
      invalid, illegal, or unenforceable in any jurisdiction, or as to any Person
      or
      Award, or would disqualify the Plan or any Award under any law deemed applicable
      by the Committee, such provision shall be construed or deemed amended to conform
      to applicable laws, or if it cannot be so construed or deemed amended without,
      in the determination of the Committee, materially altering the intent of the
      Plan or the Award, such provision shall be stricken as to such jurisdiction,
      Person, or Award, and the remainder of the Plan and any such Award shall remain
      in full force and effect. 

     

    (g) NO
      TRUST OR FUND CREATED. Neither the Plan nor any Award shall create or be
      construed to create a trust or separate fund of any kind or a fiduciary
      relationship between the Company or any Affiliate and a Participant or any
      other
      Person. To the extent that any Person acquires a right to receive payments
      from
      the Company or any Affiliate pursuant to an Award, such right shall be no
      greater than the right of any unsecured general creditor of the Company or
      any
      Affiliate. 

     

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

     

    (i) HEADINGS.
      Headings are given to the Sections and subsections of the Plan solely as a
      convenience to facilitate reference. Such headings shall not be deemed in any
      way material or relevant to the construction or interpretation of the Plan
      or
      any provision thereof. 

     

    (j) INDEMNIFICATION.
      Subject to requirements of New York State law, each individual who is or shall
      have been a member of the Board, or a Committee appointed by the Board, or
      an
      officer of the Company to whom authority was delegated in accordance with
      Section 3, shall be indemnified and held harmless by the Company against
      and from any loss, cost, liability, or expense that may be imposed upon or
      reasonably incurred by him or her in connection with or resulting from any
      claim, action, suit, or proceeding to which he or she may be a party or in
      which
      he or she may be involved by reason of any action taken or failure to act under
      this Plan and against and from any and all amounts paid by him or her in
      settlement thereof, with the Company’s approval, or paid by him or her in
      satisfaction of any judgment in any such action, suit, or proceeding against
      him
      or her, provided he or she shall give the Company an opportunity, at its own
      expense, to handle and defend the same before he or she undertakes to handle
      and
      defend it on his/her own behalf, unless such loss, cost, liability, or expense
      is a result of his/her own willful misconduct or except as expressly provided
      by
      statute. The foregoing right of indemnification shall not be exclusive of any
      other rights of indemnification to which such individuals may be entitled under
      the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or
      otherwise, or any power that the Company may have to indemnify them or hold
      them
      harmless. 

     

    (k) COMPLIANCE
      WITH SECTION 409A OF THE CODE. Except to the extent specifically provided
      otherwise by the Committee, Awards under the Plan are intended to satisfy the
      requirements of Section 409A of the Code (and the Treasury Department
      guidance and regulations issued thereunder) so as to avoid the imposition of
      any
      additional taxes or penalties under Section 409A of the Code. If the
      Committee determines that an Award, Award Agreement, payment, distribution,
      deferral election, transaction or any other action or arrangement contemplated
      by the provisions of the Plan would, if undertaken, cause a Participant to
      become subject to any additional taxes or other penalties under
      Section 409A of the Code, then unless the Committee specifically provides
      otherwise, such Award, Award Agreement, payment, distribution, deferral
      election, transaction or other action or arrangement shall not be given effect
      to the extent it causes such result and the related provisions of the Plan
      and/or Award Agreement will be deemed modified, or, if necessary, suspended
      in
      order to comply with the requirements of Section 409A of the Code to the
      extent determined appropriate by the Committee, in each case without the consent
      of or notice to the Participant. 

     

    (l) NO
      REPRESENTATIONS OR COVENANTS WITH RESPECT TO TAX QUALIFICATION. Although the
      Company may endeavor to (i) qualify an Award for favorable U.S. or foreign
      tax treatment (e.g., incentive stock options under Section 422 of the Code
      or French qualified stock options) or (ii) avoid adverse tax treatment
      (e.g., under Section 409A of the Code), the Company makes no representation
      to that effect and expressly disavows any covenant to maintain favorable or
      avoid unfavorable tax treatment. The Company shall be unconstrained in its
      corporate activities without regard to the potential negative tax impact on
      holders of Awards under the Plan. 

     

    (m) AWARDS
      TO NON-U.S. EMPLOYEES. The Committee shall have the power and authority to
      determine which Affiliates shall be covered by this Plan and which employees
      outside the U.S. shall be eligible to participate in the Plan. The Committee
      may
      adopt, amend or rescind rules, procedures or sub-plans relating to the operation
      and administration of the Plan to accommodate the specific requirements of
      local
      laws, procedures, and practices. Without limiting the generality of the
      foregoing, the Committee is specifically authorized to adopt rules, procedures
      and sub-plans with provisions that limit or modify rights on death, disability
      or retirement or on termination of employment; available methods of exercise
      or
      settlement of an award; payment of income, social insurance contributions and
      payroll taxes; the withholding procedures and handling of any stock certificates
      or other indicia of ownership which vary with local requirements. The Committee
      may also adopt rules, procedures or sub-plans applicable to particular
      Affiliates or locations. 

     

    (n) COMPLIANCE
      WITH LAWS. The granting of Awards and the issuance of Shares under the Plan
      shall be subject to all applicable laws, rules, and regulations, and to such
      approvals by any governmental agencies or stock exchanges on which the Company
      is listed as may be required. The Company shall have no obligation to issue
      or
      deliver evidence of title for Shares issued under the Plan prior to:

     

    (i) obtaining
      any approvals from governmental agencies that the Company determines are
      necessary or advisable; and 

     

    (ii) completion
      of any registration or other qualification of the Shares under any applicable
      national or foreign law or ruling of any governmental body that the Company
      determines to be necessary or advisable or at a time when any such registration
      or qualification is not current, has been suspended or otherwise has ceased
      to
      be effective. 

     

       The
      inability or impracticability of the Company to obtain or maintain authority
      from any regulatory body having jurisdiction, which authority is deemed by
      the
      Company’s counsel to be necessary to the lawful issuance and sale of any Shares
      hereunder shall relieve the Company of any liability in respect of the failure
      to issue or sell such Shares as to which such requisite authority shall not
      have
      been obtained. 

     

    SECTION
      9.    EFFECTIVE DATE OF THE PLAN 

     

    The
      Plan shall be effective as of the date of its approval by the shareowners of
      the
      Company. 

     

    SECTION
      10.    TERM OF THE PLAN 

     

    No
      Award shall be granted under the Plan after the date of the Annual Meeting
      of
      the Company in 2017. However, unless otherwise expressly provided in the plan
      or
      in an applicable Award Agreement, any Award theretofore granted may extend
      beyond such date, and the authority of the Committee to amend, alter, adjust,
      suspend, discontinue, or terminate any such Award, or to waive any conditions
      or
      rights under any such Award, and the authority of the Board of Directors of
      the
      Company to amend the Plan, shall extend beyond such date.

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