Document:

Exhibit
10.2

 

1347
Property Insurance Holdings, Inc.

 

2018
Equity Incentive Plan

EXECUTIVE
RESTRICTED SHARE UNIT AGREEMENT FOR SHARE-MATCHING GRANTS

 

Summary
of Restricted Share Unit Award

 

1347
Property Insurance Holdings, Inc. (the “Company”) grants to the Grantee named below, in accordance with the
terms of the 1347 Property Insurance Holdings, Inc. 2018 Equity Incentive Plan (the “Plan”) and this Executive
Restricted Share Unit Agreement for Share-Matching Grants (the “Agreement”), the following number of Restricted
Share Units, on the Date of Grant set forth below. Capitalized terms used in this Agreement without definition shall have the
meanings assigned to them in the Plan.

 

	 	Name
    of Grantee:	 
	 	 	 
	 	Number
    of Restricted Share Units:	 
	 	 	 
	 	Date
    of Grant:	 
	 	 	 
	 	Vesting
    Dates:	In
    20% annual installments on the first, second, third, fourth and fifth anniversaries of the Date of Grant, with vesting subject
    to the Grantee maintaining ownership of the Bonus Shares through the full five-year vesting period

 

Terms
of Agreement

 

1.
Grant of Restricted Share Units. Subject to and upon the terms, conditions, and restrictions set forth in this Agreement and
in the Plan, the Company hereby grants to the Grantee as of the Date of Grant, the number of Restricted Share Units set forth
above (the “Restricted Share Units”). Each Restricted Share Unit shall represent the contingent right to receive
Share and shall at all times be equal in value to one Share. The Restricted Share Units shall be credited in a book entry account
established for the Grantee until payment in accordance with Section 4 hereof.

 

2.
Vesting of Restricted Share Units.

 

(a)
A ratable portion of the Restricted Share Units (subject to such rounding conventions as maintained by the Company from time to
time) shall vest on each of the Vesting Dates set forth above (each, a “Vesting Date”), provided that (i) the
Grantee shall have remained in the Continuous Service of the Company or a Subsidiary through the applicable Vesting Date and (ii)
the Grantee shall have maintained ownership of the Shares granted to the Grantee on the same date as the Date of Grant as the
Grantee’s 2018 year-to-date bonus (the “Bonus Shares”) through the full five-year vesting period.

 

    	 

    	 

    

 

(b)
Notwithstanding Section 2(a), (i) upon the occurrence of a Change in Control prior to a Vesting Date and during the Grantee’s
Continuous Service, the Committee may, in its sole discretion, accelerate the vesting of the Restricted Share Units in full or
in part; (ii) in the event of the termination of the Grantee’s Continuous Service as a result of his or her “Disability”
(defined as the Grantee’s permanent and total disability (within the meaning of Section 22(e) of the Code), as determined
by a medical doctor satisfactory to the Company) or death, any outstanding unvested Restricted Share Units shall automatically
become vested in full; and (iii) the Committee may, in its sole discretion, provide for the full or partial acceleration of vesting
of the Restricted Share Units in connection with the termination of the Grantee’s Continuous Service for any other reason
prior to a Vesting Date.

 

(c)
For the purposes of this Agreement, “Change in Control” shall mean the occurrence of any of the following:

 

i.
The acquisition by any Person of Beneficial Ownership of 50% or more of either (x) the then outstanding shares of common stock
of the Company (the “Outstanding Company Common Stock”); or (y) the combined voting power of the then outstanding
securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”)
(the foregoing Beneficial Ownership hereinafter being referred to as a “Controlling Interest”); excluding,
however, the following: (A) any acquisition directly from the Company (excluding any acquisition resulting from the exercise of
an exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was acquired directly
from the Company); (B) any acquisition by the Company; (C) any acquisition by an employee benefit plan (or related trust) sponsored
or maintained by the Company or any corporation controlled by the Company; (D) any acquisition by Fundamental Global Investors,
LLC, Ballantyne Strong, Inc., Kingsway Financial Services Inc. or any of their affiliates (collectively, the “Excluded
Holders”); or (E) any acquisition by any entity pursuant to a transaction which complies with clauses (A), (B) and (C)
of subsection (ii) of this Section 2(c); provided further, that for purposes of clause (B), if any Person (other than the Company,
any employee benefit plan (or related trust) sponsored or maintained by the Company, any corporation controlled by the Company,
or any of the Excluded Holders) shall become the beneficial owner of a Controlling Interest by reason of an acquisition by the
Company, and such Person shall, after such acquisition by the Company, acquire Beneficial Ownership of any additional shares of
the Outstanding Company Common Stock or any additional Outstanding Company Voting Securities and such Beneficial Ownership is
publicly announced, such additional Beneficial Ownership shall constitute a Change in Control; or

 

    	 	2	 

    	 

    

 

ii.
The consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the
assets of the Company (a “Corporate Transaction”); excluding, however, a Corporate Transaction pursuant to
which (A) all or substantially all of the individuals or entities who are the beneficial owners, respectively, of the Outstanding
Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Corporate Transaction will beneficially
own, directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and the combined voting power
of the outstanding securities entitled to vote generally in the election of directors, as the case may be, of the corporation
resulting from such Corporate Transaction (including, without limitation, a corporation which as a result of such transaction
owns the Company or all or substantially all of the Company’s assets either directly or indirectly) in substantially the
same proportions relative to each other as their ownership, immediately prior to such Corporate Transaction, of the Outstanding
Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (B) no Person (other than (I) the Company,
any employee benefit plan (or related trust) sponsored or maintained by the Company, or any corporation controlled by the Company;
(II) any Excluded Holder; (III) the corporation resulting from such Corporate Transaction; or (IV) any Person which beneficially
owned (directly or indirectly) a Controlling Interest immediately prior to such Corporate Transaction) will beneficially own,
directly or indirectly, 50% or more of, respectively, the outstanding shares of common stock of the corporation resulting from
such Corporate Transaction or the combined voting power of the outstanding securities of such corporation entitled to vote generally
in the election of directors, and (C) individuals who were members of the Incumbent Board will constitute at least a majority
of the members of the board of directors of the corporation resulting from such Corporate Transaction; or

 

iii.
The consummation of a plan of complete liquidation or dissolution of the Company.

 

3.
Forfeiture of Restricted Share Units. The Restricted Share Units that have not yet vested pursuant to Section 2(a) shall be
forfeited automatically without further action or notice if the Grantee’s Continuous Service with the Company or a Subsidiary
terminates prior to a Vesting Date other than as provided pursuant to Section 2(b).

 

4.
Payment.

 

(a)
Except as may be otherwise provided in this Section, the Company shall deliver to the Grantee (or the Grantee’s estate in
the event of death) the Shares underlying the vested Restricted Share Units, together with cash dividend equivalents, if any,
as provided pursuant to Section 6(b), within thirty (30) days following the date that the Restricted Share Units become vested
in accordance with Section 2.

 

(b)
Notwithstanding Section 4(a), to the extent that the Grantee’s right to receive payment of the Restricted Share Units constitutes
a “deferral of compensation” within the meaning of Section 409A of the Code, payment of any vested Restricted Share
Units shall be subject to the following rules, to the extent necessary to comply with Section 409A of the Code:

 

(i)
Except as provided in Section 4(b)(ii), the Shares underlying the vested Restricted Share Units (and any related cash dividend
equivalents pursuant to Section 6(b)) shall be delivered to the Grantee (or the Grantee’s estate in the event of death)
within thirty (30) days after the earlier of: (A) the Grantee’s “separation from service” within the meaning
of Section 409A of the Code; (B) the occurrence of a “change in the ownership,” a “change in the effective control”
or a “change in the ownership of a substantial portion of the assets” of the Company within the meaning of Section
409A of the Code; or (C) the applicable Vesting Date.

 

    	 	3	 

    	 

    

 

(ii)
If the Restricted Share Units become payable as a result of Section 4(b)(i)(A), but not as a result of the Grantee’s death,
and the Grantee is a “specified employee” at that time within the meaning of Section 409A of the Code, then the Shares
underlying the vested Restricted Share Units (and any related cash dividend equivalents pursuant to Section 6(b)) shall instead
be delivered to the Grantee within thirty (30) days after the first business day that is more than six months after the date of
his or her separation from service (or, if the Grantee dies during such six-month period, within thirty (30) days after the Grantee’s
death).

 

(c)
The Company’s obligations with respect to the Restricted Share Units shall be satisfied in full upon the delivery of the
Shares underlying the vested Restricted Share Units and the payment of any related dividend cash equivalents pursuant to Section
6(b).

 

5.
Transferability. The Restricted Share Units (including any related cash dividend equivalents pursuant to Section 6(b)) may
not be transferred, assigned, pledged or hypothecated in any manner, or be subject to execution, attachment or similar process,
by operation of law or otherwise, unless otherwise provided under the Plan. Any purported transfer or encumbrance in violation
of the provisions of this Section 5 shall be void, and the other party to any such purported transaction shall not obtain any
rights to or interest in such Restricted Share Units.

 

6.
No Dividend, Voting or Other Rights; Dividend Equivalents.

 

(a)
The Grantee shall not possess any incidents of ownership (including, without limitation, dividend and voting rights) in the Shares
underlying the Restricted Share Units until such Shares have been delivered to the Grantee in accordance with Section 4 hereof.
The obligations of the Company under this Agreement will be merely that of an unfunded and unsecured promise of the Company to
deliver Shares in the future (and cash dividend equivalents pursuant to Section 6(b)), and the rights of the Grantee will be no
greater than that of an unsecured general creditor. No assets of the Company will be held or set aside as security for the obligations
of the Company under this Agreement.

 

(b)
From and after the Date of Grant and until the earlier of (i) the time when the Shares underlying the vested Restricted Share
Units (if any) are delivered to you in accordance with this Agreement, or (ii) the time that the Restricted Share Units are forfeited
in accordance with this Agreement, on each date that the Company pays a cash dividend to holders of its Shares generally, the
Company will credit to your account hereunder the right to receive a cash amount equal to the product of (x) the dollar amount
of the cash dividend paid per Share paid to stockholders on such date multiplied by (y) the total number of unpaid Restricted
Share Units credited to your account under this Agreement as of such date. Subject to and conditioned upon the vesting of the
underlying Restricted Share Units, the aggregate amount of all such dividend equivalents credited to your account hereunder shall
be paid to you in cash (without interest), at the same time that the Shares underlying your vested Restricted Share Units are
delivered to you, and your right to receive any such dividend equivalents shall be automatically and correspondingly forfeited
to the extent that the underlying Restricted Share Units are forfeited pursuant to the terms of this Agreement and the Plan.

 

    	 	4	 

    	 

    

 

7.
No Retention Rights. Nothing contained in this Agreement shall confer upon the Grantee any right with respect to continuance
of employment or other service with the Company or any Subsidiary, nor limit or affect in any manner the right of the Company
and its Subsidiaries to terminate the employment or adjust the compensation of the Grantee.

 

8.
Relation to Other Benefits. Any economic or other benefit to the Grantee under this Agreement or the Plan shall not be taken
into account in determining any benefits to which the Grantee may be entitled under any profit-sharing, retirement or other benefit
or compensation plan maintained by the Company or a Subsidiary.

 

9.
Taxes and Withholding. To the extent the Company or any Subsidiary is required to withhold any federal, state, local or other
taxes in connection with the delivery of Shares under this Agreement, then the Company or Subsidiary (as applicable) shall retain
a number of Shares otherwise deliverable hereunder with a value equal to the applicable tax withholding (based on the Fair Market
Value of the Shares on the date of delivery); provided that in no event shall the value of the Shares retained exceed the amount
of taxes required to be withheld based on the maximum statutory tax rates in the Grantee’s applicable taxing jurisdictions.
If the Company or any Subsidiary is required to withhold any federal, state, local or other taxes other than upon delivery of
the Shares under this Agreement, then the Company or Subsidiary (as applicable) shall have the right in its sole discretion to
(a) require the Grantee to pay or provide for payment of the required tax withholding, or (b) deduct the required tax withholding
from any dividend equivalent payments and/or from any amount of salary, bonus, incentive compensation or other amounts otherwise
payable in cash to the Grantee (other than deferred compensation subject to Section 409A of the Code).

 

10.
Adjustments. The number and kind of Shares deliverable pursuant to the Restricted Share Units are subject to adjustment as
provided in Section 14 of the Plan.

 

11.
Compliance with Law. The Company shall make reasonable efforts to comply with all applicable federal and state securities
laws and listing requirements with respect to the Restricted Share Units; provided, however, notwithstanding any other provision
of this Agreement, and only to the extent permitted under Section 409A of the Code, the Company shall not be obligated to deliver
any Shares pursuant to this Agreement if the delivery thereof would result in a violation of any such law or listing requirement.

 

12.
Amendments. Subject to the terms of the Plan, the Committee may modify this Agreement upon written notice to the Grantee.
Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable
hereto. Notwithstanding the foregoing, no amendment of the Plan or this Agreement shall adversely affect the rights of the Grantee
under this Agreement without the Grantee’s consent unless the Committee determines, in good faith, that such amendment is
required for the Agreement to either be exempt from the application of, or comply with, the requirements of Section 409A of the
Code, or as otherwise may be provided in the Plan.

 

    	 	5	 

    	 

    

 

13.
Entire Agreement, Relation to Plan. This Agreement is subject to the terms and conditions of the Plan. This Agreement and
the Plan contain the entire agreement and understanding of the parties with respect to the subject matter contained in this Agreement,
and supersede all prior written or oral communications, representations and negotiations in respect thereto. In the event of any
inconsistency between the provisions of this Agreement and the Plan, the Plan shall govern. The Committee acting pursuant to the
Plan, as constituted from time to time, shall, except as expressly provided otherwise herein, have the right to determine any
questions which arise in connection with the grant of the Restricted Share Units.

 

14.
Successors and Assigns. Without limiting Section 5, the provisions of this Agreement shall inure to the benefit of, and be
binding upon, the permitted successors, administrators, heirs, legal representatives and assigns of the Grantee, and the successors
and assigns of the Company.

 

15.
Choice of Law. The interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the State
of Delaware, without giving effect to any rule or principle of conflicts or choice of law that might otherwise refer construction
or interpretation of this Agreement to the substantive law of another jurisdiction.

 

16.
Data Privacy. In order to administer the Plan, the Company may process personal data about the Grantee. Such data includes,
but is not limited to the information provided in this Agreement and any changes thereto, other appropriate personal and financial
data about the Grantee such as home address and business addresses and other contact information, and any other information that
might be deemed appropriate by the Company to facilitate the administration of the Plan. By signing this Agreement, the Grantee
gives explicit consent to the Company to process any such personal data. The Grantee also gives explicit consent to the Company
to transfer any such personal data outside the country in which the Grantee works or is employed, including, if the Grantee is
not a U.S. resident, to the United States, to transferees that shall include the Company and other persons who are designated
by the Company to administer the Plan.

 

17.
Plan and Prospectus Delivery. By signing this Agreement, the Grantee acknowledges that a copy of the Plan, the Plan Summary
and Prospectus, and the Company’s most recent Annual Report and Proxy Statement (the “Prospectus Information”)
either have been received by or provided to the Grantee, and the Grantee consents to receiving the Prospectus Information electronically,
or, in the alternative, agrees to contact the Chief Financial Officer of the Company to request a paper copy of the Prospectus
Information at no charge. The Grantee also represents that he or she is familiar with the terms and provisions of the Prospectus
Information and hereby accepts this Award on the terms and subject to the conditions set forth herein and in the Plan. The Grantee
hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions
arising under the Plan or this Agreement.

 

[Signature
Page Follows]

 

    	 	6	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Date of Grant.

 

	 	1347 PROPERTY INSURANCE HOLDINGS,
    INC.
	 	 
	 	By:	 
	 	Name:	 
	 	Title: 	            
	 	 	 
	 	GRANTEE
	 	 
	 	 	 
	 	Name:	 
	 	Address:  	 
	 	 	 
	 	 	 

 

    	 	7Exhibit
10.3

 

Amended
and Restated Executive Restricted Stock Unit Agreement Under Share-Matching Program

 

NEITHER
THE SECURITIES NOR THE SECURITIES ISSUABLE PURSUANT TO THIS AGREEMENT HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, AS EVIDENCED BY A LEGAL OPINION OF
COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, WHICH OPINION SHALL BE SATISFACTORY TO THE COMPANY.

 

THE
SECURITIES (AND THE SECURITIES ISSUABLE PURSUANT TO THIS AGREEMENT) ARE HELD BY AN AFFILIATE OF THE COMPANY AND MAY NOT BE SOLD,
TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO IT THAT THE SECURITIES MAY BE SOLD PURSUANT TO RULE
144 OR ANOTHER AVAILABLE EXEMPTION UNDER SUCH ACT AND THE RULES AND REGULATIONS THEREUNDER.

 

To:
Daniel E. Case (referred to herein as “you”)

 

1347
Property Insurance Holdings, Inc. (the “Company”) is pleased to confirm that you have been granted a Restricted Stock
Unit (“RSU”) Award (this “Award”), effective June 15, 2018 (the “Award Date”). This Award
is subject to the terms of this Amended and Restated Executive Restricted Stock Unit Agreement Under Share-Matching Program (this
“Agreement”).

 

	1.	Acceptance
    of Terms and Conditions. To be eligible to receive this Award, you must sign this Agreement and return it to John S. Hill,
    Vice President, Chief Financial Officer and Secretary, within 30 days after the Award Date. By signing this Agreement, you
    acknowledge and agree that this Award does not confer any legal or equitable right (other than those rights constituting the
    Award itself) against the Company or any subsidiary directly or indirectly, or give rise to any cause of action at law or
    in equity against the Company. This Award was granted pursuant to the inducement grant exception under Nasdaq Listing Rule
    5635(c)(4), and not pursuant to the Company’s 2018 Equity Incentive Plan or any other equity incentive plan of the Company,
    as an inducement that was material to the Participant entering into employment with the Company. By your acceptance of this
    Agreement, you agree to be bound by all of the terms of this Agreement.

 

    	 	 	 

     

    

 

	2.	Grant
    of Restricted Stock Units. Subject to the restrictions, limitations, terms and conditions specified in this Agreement,
    the Company hereby grants you as of the Award Date 136,054 RSUs. Each RSU represents the contingent right to receive one Common
    Share upon vesting of the RSU. These RSUs will remain restricted until the applicable vesting date set forth below (each,
    a “Vesting Date”). Prior to the Vesting Dates, the RSUs are not transferable by you by means of sale, assignment,
    exchange, pledge, or otherwise, and the transferability of the Common Shares issuable upon vesting of the RSUs are subject
    to securities law restrictions. On each of the below-stated Vesting Dates on which you continue to be employed by the Company,
    you will vest in the below-stated percentage of the total number of RSUs awarded in this Agreement, until you are 100% vested,
    provided that you maintain ownership of the Common Shares purchased under the Company’s share-matching program through
    the full five-year vesting period:

 

	Vesting Date	 	Vested Percentage of RSUs Awarded	 
	First Anniversary of the Award Date	 	 	20	%
	Second Anniversary of the Award Date	 	 	20	%
	Third Anniversary of the Award Date	 	 	20	%
	Fourth Anniversary of the Award Date	 	 	20	%
	Fifth Anniversary of the Award Date	 	 	20	%

 

	3.	Dividend
    Equivalents. Dividend equivalents, if any, payable on the vested RSUs will be accrued on your behalf for the period between
    the Vesting Date and the date you are delivered Common Shares. Any such dividends shall be paid to you, without interest,
    on the date Common Shares are actually delivered to you under the terms of this Agreement.
	 	 
	4.	Death
    or Disability. In the event that you cease active employment with the Company because of your death or Disability prior
    to one or more Vesting Dates, all unvested RSUs will vest as of the date of death or the date you are determined to be experiencing
    a Disability.
	 	 
	5.	Distribution
    of Shares Upon Vesting. Common Shares will be delivered to you or, in the event of your death, your beneficiary, during
    the 30-day period following the date the corresponding RSUs vest, except as otherwise provided in this Agreement.
	 	 
	6.	Termination
    Other than as a Result of Death or Disability. If your employment is terminated by the Company or by you for any reason
    other than death or Disability, then all unvested RSUs are forfeited on the date of termination. Notwithstanding the foregoing,
    the Board of Directors of the Company may, in its discretion, accelerate vesting, in full or in part, (i) in the event of
    your early retirement, provided that you maintain ownership of the Common Shares purchased under the Company’s share-matching
    program through the full five-year vesting period, or (ii) upon the occurrence of a Change in Control. For the purposes of
    this Agreement, “Change in Control” shall mean the occurrence of any of the following (for the purposes of this
    Section 6, capitalized terms used and not otherwise defined herein will have the meanings given to such terms in the 1347
    Property Insurance Holdings, Inc. 2018 Equity Incentive Plan):

 

	 	i.	The
    acquisition by any Person of Beneficial Ownership of 50% or more of either (x) the then outstanding shares of common stock
    of the Company (the “Outstanding Company Common Stock”); or (y) the combined voting power of the then outstanding
    securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”)
    (the foregoing Beneficial Ownership hereinafter being referred to as a “Controlling Interest”); excluding, however,
    the following: (A) any acquisition directly from the Company (excluding any acquisition resulting from the exercise of an
    exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was acquired directly
    from the Company); (B) any acquisition by the Company; (C) any acquisition by an employee benefit plan (or related trust)
    sponsored or maintained by the Company or any corporation controlled by the Company; (D) any acquisition by Fundamental Global
    Investors, LLC, Ballantyne Strong, Inc., Kingsway Financial Services Inc. or any of their affiliates (collectively, the “Excluded
    Holders”); or (E) any acquisition by any entity pursuant to a transaction which complies with clauses (A), (B) and (C)
    of subsection (ii) of this Section 6; provided further, that for purposes of clause (B), if any Person (other than the Company,
    any employee benefit plan (or related trust) sponsored or maintained by the Company, any corporation controlled by the Company,
    or any of the Excluded Holders) shall become the beneficial owner of a Controlling Interest by reason of an acquisition by
    the Company, and such Person shall, after such acquisition by the Company, acquire Beneficial Ownership of any additional
    shares of the Outstanding Company Common Stock or any additional Outstanding Company Voting Securities and such Beneficial
    Ownership is publicly announced, such additional Beneficial Ownership shall constitute a Change in Control; or

 

    	 	- 2 -	 

    	 

    

 

	 	ii.	The
    consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the
    assets of the Company (a “Corporate Transaction”); excluding, however, a Corporate Transaction pursuant to which
    (A) all or substantially all of the individuals or entities who are the beneficial owners, respectively, of the Outstanding
    Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Corporate Transaction will beneficially
    own, directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and the combined voting
    power of the outstanding securities entitled to vote generally in the election of directors, as the case may be, of the corporation
    resulting from such Corporate Transaction (including, without limitation, a corporation which as a result of such transaction
    owns the Company or all or substantially all of the Company’s assets either directly or indirectly) in substantially
    the same proportions relative to each other as their ownership, immediately prior to such Corporate Transaction, of the Outstanding
    Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (B) no Person (other than (I) the
    Company, any employee benefit plan (or related trust) sponsored or maintained by the Company, or any corporation controlled
    by the Company; (II) any Excluded Holder; (III) the corporation resulting from such Corporate Transaction; or (IV) any Person
    which beneficially owned (directly or indirectly) a Controlling Interest immediately prior to such Corporate Transaction)
    will beneficially own, directly or indirectly, 50% or more of, respectively, the outstanding shares of common stock of the
    corporation resulting from such Corporate Transaction or the combined voting power of the outstanding securities of such corporation
    entitled to vote generally in the election of directors, and (C) individuals who were members of the Incumbent Board will
    constitute at least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction;
    or
	 	 	 
	 	iii.	The
    consummation of a plan of complete liquidation or dissolution of the Company.

 

	7.	Clawback.
    The RSUs and any cash payment or Common Shares delivered pursuant to this Agreement are subject to forfeiture, recovery
    by the Company or any clawback or recoupment policy which the Company, by action of its Board of Directors, may adopt from
    time to time, including without limitation any such policy which the Company may be required to adopt under the Dodd-Frank
    Wall Street Reform and Consumer Protection Act and implementing rules and regulations thereunder, or as otherwise required
    by law.
	 	 
	8.	Adjustments.
    If the number of outstanding Common Shares is changed as a result of a stock split or the like without additional consideration
    to the Company, the number of RSUs subject to this Award shall be adjusted to correspond to the change in the outstanding
    Common Shares.

 

    	 	- 3 -	 

    	 

    

 

	9.	Rights
    as a Stockholder. By accepting this Award, you shall have no rights as a stockholder of the Company in respect of the
    RSUs, including the right to vote until and unless the RSUs have vested and ownership of Common Shares issuable upon vesting
    of the RSUs has been transferred to you.
	 	 
	10.	Public
    Offer Waiver. By voluntarily accepting this Award, you acknowledge and understand that your rights under this Agreement
    are offered to you strictly as an employee of the Company and that this Award of RSUs is not an offer of securities made to
    the general public.
	 	 
	11.	Restricted
    Securities. You understand that the RSUs and the Common Shares issuable upon vesting of the RSUs have not been registered
    under the Securities Act or any applicable state securities laws and are being issued to you in reliance upon exemption from
    such registration under the Securities Act as well as under applicable state securities laws. By accepting this Award, you
    confirm that you have been informed that the RSUs and the Common Shares issuable upon vesting of the RSUs are restricted securities
    under the Securities Act and under applicable state securities laws and may not be resold or transferred unless they are first
    registered under the federal securities laws and registered or qualified under applicable state securities laws, unless an
    exemption from such registration or qualification is available. Accordingly, you acknowledge that you are aware that exemptions
    under the Securities Act or applicable state securities law may not be available to permit the resale of the Common Shares
    issuable upon vesting of the RSUs and that you are prepared to hold the Common Shares issuable upon vesting of the RSUs for
    an indefinite period. The certificates representing the Common Shares issuable upon vesting of the RSUs shall bear such restrictive
    legends as are required or deemed advisable under the provisions of all applicable laws.
	 	 
	12.	Interpretations.
    Any dispute, disagreement or question that arises under, or as a result of, or in any way relates to the interpretation,
    construction or application of the terms of this Agreement will be determined and resolved by the Compensation and Management
    Resources Committee of the Board of Directors of the Company (the “Committee”) or its authorized delegate. Such
    determination or resolution by the Committee or its authorized delegate will be final, binding and conclusive for all purposes.
	 	 
	13.	No
    Rights to Continued Employment. By voluntarily acknowledging and accepting this Award, you acknowledge and understand
    that this Award shall not form part of any contract of employment between you and the Company. Nothing in the Agreement confers
    on you any right to continue in the employ of the Company or in any way affects the Company’s right to terminate your
    employment without prior notice at any time or for any reason. You further acknowledge that this Award is for future services
    to the Company and is not under any circumstances to be considered compensation for past services.
	 	 
	14.	Nature
    of Grant. In accepting the grant, you acknowledge, understand, and agree that: (a) the RSUs are extraordinary items and
    are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any
    severance, resignation, termination, redundancy, end of service payments, bonuses, pension or welfare or retirement benefits
    or similar payments; (b) in no event should the RSUs be considered as compensation for, or relating in any way to, past services
    for the Company, nor are the RSUs or the underlying Common Shares intended to replace any pension rights or compensation;
    (c) the future value of the underlying Common Shares is unknown and cannot be predicted with certainty; and (d) the Company
    is not providing any tax, legal or financial advice.

 

    	 	- 4 -	 

    	 

    

 

	15.	Miscellaneous.

 

	 	a.	Modification.
    By accepting this Award, you agree that the granting of the Award is at the discretion of the Committee and that acceptance
    of this Award is no guarantee that future Awards will be granted to you. The Award of these RSUs is documented by the records
    of the Committee or its delegate which shall be the final determinant of the number of Common Shares granted and the conditions
    of this Agreement. The Committee may amend or modify this Award in any manner as permitted by law, provided that no such amendment
    or modification shall impair your rights under this Agreement without your consent. Notwithstanding anything in this Agreement
    to the contrary, this Award may be amended by the Company without your consent, including but not limited to modifications
    to any of the rights granted to you under this Agreement, at such time and in such manner as the Company may consider necessary
    or desirable to reflect changes in law, including, but not limited to, exchange listing requirements.
	 	 	 
	 	b.	Governing
    Law. All matters arising under this Agreement, including matters of validity, construction and interpretation, shall be
    governed by the internal laws of the State of Delaware, without regard to any state’s conflict of law principles.
	 	 	 
	 	c.	Successors
    and Assigns. Except as otherwise provided herein, this Agreement will bind and inure to the benefit of the respective
    successors and permitted assigns of the parties hereto whether so expressed or not.
	 	 	 
	 	d.	Severability.
    Whenever feasible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under
    applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision
    will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.
	 	 	 
	 	e.	Impact
    Upon Termination of Employment. By voluntarily acknowledging and accepting this Award, you agree that no benefits accruing
    under this Agreement will be reflected in any severance or indemnity payments that the Company may make or be required to
    make to you in the future, regardless of the jurisdiction in which you may be located.

 

	16.	Securities
    Laws. By accepting this Award, you acknowledge and confirm that: (a) you have the knowledge and experience in financial
    and business matters necessary to exercise, and that you are capable of evaluating the merits and risks relating to the RSUs
    and the Common Shares issuable upon vesting of the RSUs; and (b) that you are acquiring the RSUs and the Common Shares issuable
    upon vesting of the RSUs for your own account and not with any view towards a distribution of the Common Shares issuable upon
    vesting of the RSUs. The issuance of the Common Shares issuable upon vesting of the RSUs shall be subject to you making or
    entering into such written representations, warranties and agreements as any officer of the Company may reasonably request
    in order to comply with applicable securities laws and government regulations.
	 	 
	17.	Imposition
    of Other Requirements. The Company reserves the right to impose other requirements on the RSUs and on any Common Shares
    acquired under this Award, to the extent the Company determines it is necessary or advisable in order to comply with applicable
    law or facilitate this Award, and to require you to sign any additional agreements or undertakings that may be necessary to
    accomplish the foregoing.
	 	 
	18.	Taxes.
    You acknowledge that (a) the ultimate liability for any and all taxes payable with respect to your benefits under this Award,
    including but not limited to federal and state income and employment taxes (collectively, “Tax-Related Items”)
    are your responsibility and may exceed the amount actually withheld by the Company and (b) the Company (i) makes no representations
    or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs, including, but
    not limited to, the grant, vesting and/or conversion of the RSUs and issuance of Common Shares; (ii) does not commit and is
    under no obligation to structure the terms of the grant or any aspect of the RSUs to reduce or eliminate your liability for
    Tax-Related Items; (iii) may be required to withhold or account for Tax-Related Items in more than one jurisdiction if you
    have become subject to tax in more than one jurisdiction between the Award Date and the date of any relevant taxable event;
    and (iv) may refuse to deliver the Common Shares to you if you fail to comply with your obligations in connection with the
    Tax-Related Items as provided in this Section. You agree to pay any such Tax-Related items in cash unless otherwise agreed
    by the Company.

 

    	 	- 5 -	 

    	 

    

 

	19.	Section
    409A Provisions. The payment of Common Shares under the Award is intended to be exempt from the application of Section
    409A of the Code by reason of the short-term deferral exemption set forth in Treasury Regulation §1.409A-1(b)(4). Notwithstanding
    anything in this Agreement to the contrary, to the extent that any amount or benefit hereunder that constitutes nonqualified
    deferred compensation under Section 409A of the Code and applicable guidance thereunder is otherwise payable or distributable
    to you under this Agreement solely by reason of the occurrence of a termination of employment following a Change of Control
    or due to your Disability, such amount or benefit will not be payable or distributable to you by reason of such circumstance
    unless the Committee determines in good faith that (i) the termination of employment following a Change in Control constitutes
    a “separation from service” or the Disability is a “disability”, as the case may be, under Section
    409A(a)(2)(A) of the Code and applicable final regulations, or (ii) the payment or distribution of such amount or benefit
    would be exempt from the application of Section 409A by reason of the short-term deferral exemption or otherwise. In no event
    shall the Company have any responsibility for tax consequences to you (or your beneficiary) resulting from the terms or operation
    of this Award Agreement. Any payment or distribution that constitutes nonqualified deferred compensation subject to Section
    409A and that becomes payable to you while you are a specified employee as defined in Section 409A(a)(2)(B) of the Code on
    account of separation from service instead shall be made on the earlier of the date that is six months and one day after the
    date of such separation from service and your death.
	 	 
	20.	Data
    Privacy. In order to administer this Award, the Company may process personal data about you. Such data includes, but is
    not limited to the information provided in this Agreement and any changes thereto, other appropriate personal and financial
    data about you such as home address and business addresses and other contact information and any other information that might
    be deemed appropriate by the Company to facilitate the administration of this Award. By signing this Agreement, you give explicit
    consent to the Company to process any such personal data. You also give explicit consent to the Company to transfer any such
    personal data outside the country in which you work or are employed, including, if you are not a U.S. resident, to the United
    States, to transferees that shall include the Company and other persons who are designated by the Company to administer this
    Award.

 

The
undersigned hereby acknowledges, accepts, and agrees to all terms and provisions of the foregoing Agreement.

 

	 	/s/
    Daniel E. Case	 
	 	Employee	 
	 	 	 
	 	August
    28, 2018	 
	 	Date	 

 

The
signed Agreement must be returned to John S. Hill, Vice President, Chief Financial Officer AND SECRETARY, within 30 days OF the
Date OF The AGReement.

 

    	 	- 6 -

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