Document:

Confidential Separation Agreement between Renovis, Inc. and Tito A. Serafini

 Exhibit 10.1 
 CONFIDENTIAL SEPARATION AGREEMENT 
 This Confidential Separation Agreement (the
“Agreement”) is made by and between Renovis, Inc. (hereinafter, the “Company”) and Tito A. Serafini (“Serafini”) (together referred to as “the Parties”) and is entered into as of
December 22, 2006, effective the eighth day after Serafini’s signature without revocation (the “Effective Date”). 
 WHEREAS, Serafini is a founder of the Company and is employed by the Company as VP, Technology; 
 WHEREAS, Serafini has entered
into with the Company an Amended and Restated Employment Agreement dated September 15, 2006 (the “Employment Agreement”), an Employee Proprietary Information and Inventions Agreement, and an Indemnity Agreement dated
April 8, 2005 (the “Indemnity Agreement”); 
 WHEREAS, the Company on April 21, 2000, May 9,
2002, March 18, 2003, August 22, 2003 and September 24, 2003 granted Serafini options to purchase an aggregate of 211,108 shares of the Company’s common stock (the “Stock Options”) subject to the terms
and conditions of the Company’s 2003 Stock Plan, the 2003 Equity Incentive Plan, the 2000 Equity Incentive Plan, and related amendments thereto, including any exhibits thereto (collectively, the “Plans”); 
 WHEREAS, the Company on February 9, 2005 and January 16, 2006 granted Serafini options to purchase an aggregate of 85,000 shares of the
Company’s common stock (the “Underwater Stock Options”) subject to the terms and conditions of the Company’s 2003 Stock Plan; 
 WHEREAS, the Company on June 9, 2000 granted Serafini 88,888 founders shares of the Company’s common stock) subject to the terms and conditions of the Founders Agreement. 
 WHEREAS, Serafini has tendered his resignation, and the Company accepts such resignation effective as of January 3, 2007 (the “Separation
Date”); and 
 WHEREAS, the Parties agree that Serafini’s resignation qualifies as a “Constructive Termination” as
defined in Paragraph 12(d) (3) of the Employment Agreement. 
 NOW THEREFORE, in consideration of the mutual promises made herein, the
Parties hereby agree as follows: 
 1. Employment/Consulting. 
 (a) Serafini’s employment as the Company’s VP, Technology will terminate on January 3, 2007 (the Separation Date), at which time Serafini
will be paid all wages, including accrued, unused vacation, earned through the Separation Date. Following the Separation Date, Serafini shall not be eligible for the accrual of any employment benefits including, without 
  

 1 
 Confidential 

 limitation, paid vacation. The Company shall promptly reimburse Serafini for all business expenses submitted by him on or
before February 1, 2007, in accordance with the terms of the Company’s policy regarding such reimbursements. Effective as of January 3, 2007 Serafini will no longer be an officer of the Company. 
 (b) From the Separation Date until such time as either party gives seven (7) days’ notice of termination in writing (the “Consulting
Period”), Serafini will be available to reasonably assist the Company’s Senior Executives, during regular business hours and at mutually agreeable times, for up to four (4) days per month (the “Consulting
Services”) through January 31, 2007. The Company will promptly reimburse Serafini for pre-approved expenses incurred by him in providing Consulting Services, in accordance with the Company’s expense reimbursement policies. As
compensation for any Consulting Services provided by him, the Company shall pay him $8,000. At the mutual agreement of the Company and Serafini, Serafini may provide, at the Company’s request, additional Consulting Services to the Company from
February 1, 2007 through June 30, 2007 at a rate of $2,000 per day. 
 2. Settlement Compensation. 
 (a) Cash. On the later of the Separation Date or the Effective Date, the Company will pay Serafini in a lump sum, less all applicable taxes and
other authorized withholding, the equivalent of twelve (12) months’ of Serafini’s current gross base monthly salary (in the gross amount of $264,500). 
 (b) Bonus Compensation for 2006 Calendar Year. On the later of the Separation Date or the Effective Date, the Company will pay Serafini in a lump sum, less all applicable taxes and other authorized withholding,
the equivalent of a bonus for the 2006 calendar year, in an amount determined by the Company, based in part upon defined, measurable objectives, and in part upon the Company’s assessment, in its sole discretion, of the value of Serafini’s
contributions (in the gross amount of $69,400.69). 
 (c) COBRA. Health coverage shall end on January 31, 2007. Thereafter,
Serafini may elect to continue to participate in the Company’s group health insurance plans pursuant to COBRA. If Serafini elects COBRA coverage, the Company shall pay his COBRA payments for up to twelve full months after his Separation Date,
or such earlier date as Serafini informs the Company in writing that he no longer desires COBRA coverage. After such twelve month period, Serafini shall be responsible for such payments through the end of the COBRA election period as established
under federal law. 
 (d) Stock Option Vesting and Acceleration of Stock Option Vesting. The Parties agree that Serafini will have
already vested as of the Separation Date in 306,695 (three hundred six thousand six hundred ninety five) shares of common stock under the Stock Options (i.e., the Stock Options will have vested and become exercisable with respect to an aggregate of
69,599 shares of common stock, 306,695 vested less 228,145 already exercised). The parties further agree that 8,951 (eight thousand nine hundred and fifty one) shares are subject to the repurchase provisions of the 2003 Equity Incentive Plan as of
January 3, 2007 because unvested options have been early exercised. Serafini has decided not to exercise the Underwater Stock Options for any additional consideration and therefore they will automatically return to the 
  

 2. 

 Company on the Separation Date. As part of the Settlement Compensation, the Company will waive its repurchase rights
regarding the 8,951 shares subject to repurchase and will accelerate the vesting of these shares. The Parties further agree that as part of the Settlement Compensation, Serafini will additionally vest in 34,245 (thirty four thousand two hundred
forty five) shares of common stock under the Stock Options, such vesting to occur immediately upon the later of the Effective Date or the Separation Date. After taking into account the foregoing accelerated vesting and the return of the underwater
options, Serafini shall have vested in a total of 299,996 (two hundred ninety nine thousand nine hundred ninety six) shares of the Stock Options, allocated by stock option grant in accordance with Exhibit A hereto. 
 (i) Serafini shall have until December 31, 2007 to exercise the vested Stock Options. The Underwater Options shall expire and be unexercisable as
of the Effective Date. 
 (ii) From the date of this Agreement through the expiration of the exercise period for the Stock Options, Serafini
shall strictly comply with the Company’s Insider Trading Policy, including, among other things, clearing all trades in Company stock with the Company’s Compliance Officer. Promptly after any exercise by Serafini of any Stock Options, one
or more certificates representing the shares with respect to which such Stock Options were exercised shall be delivered to Serafini and shall be subject to such legends as are consistent with the agreements to which Serafini is a party and the
Securities Act of 1933, as amended. 
 (iii) Except as expressly provided herein, all of the Stock Options shall continue to be subject to
all the other terms of the Plan. 
 (e) No Other Benefits. Serafini understands and acknowledges that he shall be entitled to no
separation benefits from the Company other than those expressly set forth in this Section 2. 
 3. Releases of Claims.

 (a) Serafini agrees that the Company’s obligations in this Agreement represents settlement in full of all outstanding obligations owed
to Serafini by (and any and all actual and/or potential claims by Serafini against) the Company and its predecessors, successors, divisions, subsidiaries, officers, managers, supervisors, agents and employees. Serafini hereby fully and forever
releases the Company and its officers, directors, employees, agents, investors, shareholders, administrators, affiliates, divisions, subsidiaries, predecessor and successor corporations, and assigns (“collectively, the Company Releasees”),
from, and agrees not to sue concerning, or in any manner to institute, prosecute or pursue (except to enforce the Agreement and related surviving rights), any claim, complaint, charge, duty, obligation or cause of action relating to any matters of
any kind, whether presently known or unknown, suspected or unsuspected, that Serafini may possess against any of the Company Releasees arising from any omissions, acts or facts that have occurred up until and including the Effective Date of this
Agreement. 
 (b) The Company, on its own behalf, and (to the fullest extent allowed) on behalf of its divisions, subsidiaries, predecessor
and successor corporations, hereby fully and 
  

 3. 

 forever releases Serafini and his respective heirs, family members, and executors, agents, attorneys and assigns
(collectively, the “Serafini Releasees”), from, and agrees not to sue concerning, or in any manner to institute, prosecute or pursue, any claim, complaint, charge, duty, obligation or cause of action relating to any matters of any kind,
that the Company and/or the Company Releasees may possess against Serafini and/or any of the Serafini Releasees, arising from any omissions, acts or facts that have occurred up until and including the Effective Date of this Agreement and that are
known, or in the exercise of reasonable diligence should be known to, the Company’s Board of Directors. 
 (c) The above releases
include, without limitation: 
 (i) any and all claims relating to or arising out of Serafini’s employment relationship with the Company
and the termination of that relationship (except for any claims for indemnity arising under California law, the indemnification provisions of the Company’s Certificate of Incorporation and Bylaws and the Indemnity Agreement); 
 (ii) any and all claims relating to, or arising from, Serafini’s right to purchase, or actual purchase of shares of stock of the Company;

 (iii) any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment;
retaliation; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; negligent or intentional
misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment;
conversion; 
 (iv) any and all claims for violation of any federal, state or municipal statute, including, but not limited to, Title VII of
the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Americans with Disabilities Act of 1990; the Fair Labor Standards Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the
Family and Medical Leave Act; the California Family Rights Act; the California Fair Employment and Housing Act; and the California Labor Code; 
 (v) any and all claims for violation of the federal, or any state, constitution; 
 (vi) any and all claims arising out of any
other laws and regulations relating to employment or employment discrimination; 
 (vii) any claim for any loss, cost, damage, or expense
arising out of any dispute over either the non-withholding or other tax treatment only of any of the proceeds paid to Serafini as a result of this Agreement; and 
 (viii) any and all claims for attorneys’ fees and costs, not paid herein. 
  

 4. 

 (d) The Parties agree that the releases set forth in this Paragraph 4 shall be and remain in effect in
all respects as complete general releases as to the matters released. These releases expressly do not extend to any obligations incurred under (or excepted in) this Agreement. 
 (e) In accordance with the Older Workers Benefit Protection Act of 1990, Serafini confirms that he has been advised of and is aware of the following:

 (i) He has the right to consult with an attorney before signing this Agreement; 
 (ii) He has twenty-one (21) days from the date he receives a copy of this Agreement to consider it; 
 (iii) He may waive the above-described twenty-one (21) day notice period by signing this Agreement prior to the expiration of that notice period;
and 
 (iv) He has seven (7) days after signing this Agreement to revoke his acceptance of it, and this Agreement will not be effective
until that revocation period has expired. In order for the revocation to be effective, Serafini must provide revocation in writing and delivered to either CEO or SVP-HR, Renovis, Inc, Two Corporate Drive, South San Francisco, CA 94080,
(650) 266-1533, (650) 745-0887 fax, on or before 5:00 p.m. on the seventh (7th) day after the date on which you sign this Agreement. 
 4. Civil Code Section 1542 Waivers; Release Exceptions. Serafini represents that he is not aware of any claim by him or by the Serafini Releasees against any of the Company Releasees other than the claims that are released by
this Agreement. The Company represents that it is not aware of any claim by it or any other third party against Serafini other than the claims that are released by this Agreement. Each Party acknowledges that he/it has been advised by legal counsel
and is familiar with the provisions of California Civil Code Section 1542, which provides as follows: 
 A GENERAL RELEASE DOES NOT
EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 Each Party, being aware of said code section, agrees to expressly waive any rights he/it may have there under, as well as under any other statute or common law
principles of similar effect. Nevertheless, none of the waivers and releases in this Agreement shall waive, release, apply to and/or limit in any way either: (1) Serafini’s legally-vested rights (if any) earned through the Separation Date
under any benefit plan of the Company (e.g., the Plan, 401(k) plan), pursuant to any Company insurance policy(ies), and/or that are not waivable under applicable law (e.g., regarding unemployment, workers compensation, or ERISA);
(2) Serafini’s right to indemnification, and to a defense from the Company, and to be held harmless by the Company pursuant to the Indemnity Agreement and any applicable insurance policy(ies), statute(s), 
  

 5. 

 common law obligation(s), or otherwise; (3) claims that the Company has against Serafini based upon facts not known
to the Board of Directors of the Company as of the Effective Date; (4) Serafini’s right to bring to the attention of the Equal Employment Opportunity Commission claims of discrimination; provided, however, that Serafini does release his
right to secure any damages for alleged discriminatory treatment; (5) either Party’s rights to enforce the Agreement; and (6) either Party’s rights to raise claims for the other Party’s (and associated releasees’)
post-Effective Date activities. 
 5. Confidentiality. Except as permitted herein, the Parties agree to maintain in complete
confidence the terms of this Agreement (hereinafter collectively referred to as “Separation Information”). Except as required by law or otherwise permitted herein, Serafini may disclose Separation Information only to his immediate family
members, in any process to enforce (or defend against claimed breaches of) the Agreement, Serafini’s legal counsel, accountant, financial planner and any professional tax advisor, and must use reasonable efforts to prevent disclosure of any
Separation Information to all other third parties. The Company agrees to disclose Separation Information only to the Board of Directors and those Company executives determined by the Company to need such Separation Information, designated deposition
officers in response to valid subpoenas issued to the Company, the Court and/or arbitrator in proceedings to enforce the terms of this Agreement, the Company’s attorneys, accountants and any professional tax advisor to the extent that they need
to know the Separation Information in order to provide advice on tax treatment or to provide tax returns, in public filings by the Company with the Securities and Exchange Commission to the extent necessary, or as otherwise required by business
necessity, and to the extent necessary to prevent disclosure of any Separation Information to all other third parties. The Parties agree that they will not otherwise publicize, directly or indirectly, any Separation Information, other than to
disclose words to the effect that “any issues have been settled to the mutual satisfaction of all Parties,” “I can’t discuss that because of an agreement.” 
 6. Confidential Information; Return of Company Property. 
 (a) Serafini hereby expressly confirms his continuing obligations to the Company pursuant to the Employee Proprietary Information and Inventions Agreement (the “Confidentiality Agreement”), attached as
Exhibit B hereto, which Confidentiality Agreement Serafini represents and warrants he executed during the course of his employment, and the terms of which Serafini acknowledges and agrees apply to the entire period of his employment. 
 (b) As agreed by Serafini and the Company, Serafini shall destroy or delete, on his own time and at his own expense, no later than January 31, 2007
(and deliver a schedule detailing such destruction) the following documents and materials: (i) confidential information of any third party to which the Company owes a duty of confidentiality; (ii) documents containing tables of chemical
structures of Company proprietary compounds that are not publicly available; (iii) presentation materials for presentations to the Company Board of Directors. The Company acknowledges and agrees that Serafini may retain: (x) publicly
available information from journals, trade publications, or data bases; (y) Company business information and documents dating from prior to January 2006; and (z) email and other correspondence that contain the Company’s proprietary
information or trade secrets. The Company shall have the right to inspect all documents, files, and materials in Serafini’s 
  

 6. 

 possession, including the equipment described in Section 6(c) below, and to identify any additional documents or
materials to be destroyed or deleted. To the extent that Serafini, to his knowledge, has any originals, or sole copies, of Company documents or files, such documents or files shall be returned to the Company, and not deleted or destroyed.

 (c) Serafini shall return to the Company on the Separation Date all equipment of the Company in his possession or control.
Notwithstanding the foregoing, Serafini shall be allowed to retain his Company-issued laptop computer, PDAs, old computers, and associated equipment currently in Serafini’s possession, such as routers and monitors, after the Company has removed
from such devices Company information as set forth in Section 6(b) above. 
 7. No Cooperation. Serafini agrees that he will not
act in any manner that is intended to (and does) materially damage the business of the Company. The Company agrees that it will not act in any manner that is intended to (and does) materially damage Serafini. Each Party further agrees that he/it
will not knowingly counsel or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against the other Party, unless involuntarily under a
subpoena or other court order to do so. Each Party agrees both to immediately notify the other Party upon receipt of any such subpoena or court order related in any way to Serafini’s Company employment, and to furnish, within three
(3) business days of its receipt, a copy of such subpoena or court order to the other Party. If approached by anyone for counsel or assistance in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or
complaints by those third parties against the other Party, the contacted Party shall state no more than that he/it cannot provide counsel or voluntary assistance. 
 8. Cooperation in Future Investigations or Litigation. Serafini agrees to give full cooperation, at the Company’s request, in any pending or future litigation, arbitration or administrative proceeding or
inquiry brought against the Company, and in any investigation the Company or any government agency may conduct. Serafini shall be reimbursed for all reasonable expenses incurred by him in compliance with this paragraph. Notwithstanding the
foregoing, the Company shall have no obligation to pay Serafini for time spent and expenses incurred by him in any pending or future litigation or arbitration which Serafini has initiated or which has been initiated on his behalf. 
 9. Non-Disparagement. Serafini agrees to refrain from any defamation, libel or slander of the Company, and any tortious interference with the
contracts, relationships and prospective economic advantage of the Company. The Company agrees that its Directors and Officers shall refrain from any defamation, libel or slander of Serafini, and that the Company shall refrain from any tortious
interference with the contracts, relationships and prospective economic advantage of Serafini. 
 10. No Admission of Liability. Each
Party understands and acknowledges that this Agreement constitutes a compromise and settlement of any and all potential disputed claims. No action taken by either Party, either previously or in connection with this Agreement, shall be deemed or
construed to be: (a) an admission of the truth or falsity of any potential claims; or (b) an acknowledgment or admission by either Party of any fault or liability whatsoever to the other Party or to any third party. 
  

 7. 

 11. Costs. The Parties shall each bear their own costs, attorneys’ fees and other fees
incurred in connection with the preparation of this Agreement. 
 12. Authority. The Company represents and warrants that the
undersigned have the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement. Serafini represents and warrants that he has the capacity to act on his own behalf
and on behalf of all who might claim through him to bind them to the terms and conditions of this Agreement. Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any
of the claims or causes of action released herein. 
 13. No Representations. Each Party represents that he/it has consulted with or
has had the opportunity to consult with an attorney, and has carefully read and understands the scope and effect of the provisions of this Agreement. Each Party has not relied upon any representations or statements made by the other Party or that
Party’s agents which are not specifically set forth in this Agreement. 
 14. Severability. In the event that any provision or
any portion of any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision or portion of provision. 

15. Attorneys’ Fees. In the event that either Party brings an action to enforce or effect its rights under this Agreement, the prevailing
party shall be entitled to recover its costs and expenses, including the costs of mediation, arbitration, litigation, court fees, etc., plus reasonable attorneys’ fees, incurred in connection with any such an action. 
 16. Entire Agreement. This Agreement and the surviving terms of the other agreements referenced in it (as modified by this Agreement) represent
the entire agreement and understanding between the Company and Serafini concerning Serafini’s separation from the Company and the events leading thereto and associated therewith, and otherwise supersedes and replaces any and all prior
agreements and understandings concerning Serafini’s relationship with the Company. 
 17. No Oral Modification. This Agreement
may only be amended in writing signed by Serafini and a duly authorized officer of the Company. 
 18. Governing Law. This Agreement
shall be governed by the laws of the State of California, without regard for choice of law provisions. 
 19. Dispute Resolution.
Unless otherwise prohibited by law or specified below, all disputes, claims, and causes of action (including but not limited to any claims of statutory discrimination of any type), in law or equity, arising from or relating to this Agreement or
its enforcement, performance, breach, or interpretation, or to Serafini’s employment with the Company or the termination of that employment, shall be resolved solely and exclusively by 
  

 8. 

 final, binding and confidential arbitration before a single neutral arbitrator through Judicial Arbitration &
Mediation Services/Endispute, Inc. (“JAMS”) under the then existing JAMS arbitration rules. Serafini understands and agrees that this provision waives his right to a jury trial on these claims. This arbitration shall be held in a mutually
agreeable location or, if the parties are unable to agree, a location selected by JAMS. Nothing in this section is intended to prevent either party from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any
such arbitration. 
 20. Counterparts Facsimile. This Agreement may be executed in counterparts and by facsimile, and each counterpart
and facsimile shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned, upon receipt of the original or faxed copy of the counterpart signed by the other
Party’s legal counsel. 
 21. Voluntary Execution of Agreement. This Agreement is executed voluntarily and without any
duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that: 
 (a) They have read this Agreement; 
 (b) They have been represented in the preparation,
negotiation, and execution of this Agreement by legal counsel of their own choice; 
 (c) They understand the terms and
consequences of this Agreement and of the releases it contains; 
 (d) They are fully aware of the legal and binding effect
of this Agreement; and 
 (e) This Agreement shall be binding upon the Parties and their respective agents, successors,
representatives, heirs, administrators and assigns. 
 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates
set forth below. 
  

					
	 	 	 	 	RENOVIS, INC.
			
	Dated: 12/22/06	 	By:	 	 /s/ Corey Goodman

		 		 	Corey Goodman, President and CEO
		
	Dated: 12/21/06	 	 /s/ Tito Serafini

		 	Tito Serafini

  

 9. 

 Exhibit A 
  

					
	 January 3, 2007
	  	Shares Vested	  	306,695
			
		  	Additional shares 12 months accelerated vesting per employment agreement	  	43,196
			
		  	Returned shares, vested and unvested, from 1/16/06 and 2/9/05 option grants	  	(85,000 – total 49,895 vested – 35,105 unvested)
			
		  	TOTAL	  	299,996
			
	 Allocation by grant
	  	 Grant Date
	  	 Vested

	 NQ
	  	4/21/2000	  	55,555
	 FOUN
	  	6/9/2000	  	88,888
	 ISO
	  	5/9/2002	  	2,222
	 ISO
	  	3/18/2003	  	44,444
	 ISO
	  	8/22/2003	  	37,036
	 NQ
	  	8/22/2003	  	22,963
	 NQ
	  	9/24/2003	  	48,888
	 NQ
	  	2/9/2005	  	returned shares
	 ISO
	  	2/9/2005	  	returned shares
	 NQ
	  	1/16/2006	  	returned shares
	 ISO
	  	1/16/2006	  	returned shares
		  	TOTAL	  	299,996

	*	ISO status changes to NQ after 90 days from January 3, 2007 Separation Date. Also, any ISOs exceeding the IRS limit will be converted to NQs upon acceleration

  

 10. 

 Exhibit B 
 Renovis, Inc. 
 EMPLOYEE PROPRIETARY INFORMATION 
 AND INVENTIONS AGREEMENT 
 In
consideration of my employment or continued employment by Renovis, Inc. (the “Company”), and the compensation now and hereafter paid to me, I hereby agree as follows: 
 1. NONDISCLOSURE 
 1.1 Recognition of Company’s Rights; Nondisclosure. At all times during my employment and thereafter, I will hold in strictest confidence and will not disclose, use, lecture upon or publish any of the Company’s Proprietary
Information (defined below), except as such disclosure, use or publication may be required in connection with my work for the Company, or unless an officer of the Company expressly authorizes such in writing. I will obtain Company’s written
approval before publishing or submitting for publication any material (written, verbal, or otherwise) that relates to my work at Company and/or incorporates any Proprietary Information. I hereby assign to the Company any rights I may have or acquire
in such Proprietary Information and recognize that all Proprietary Information shall be the sole property of the Company and its assigns. 
 1.2 Proprietary Information. The term “Proprietary Information” shall mean any and all confidential and/or proprietary knowledge, data or information of the Company. By way of illustration but not limitation,
“Proprietary Information” includes (a) trade secrets, inventions, mask works, ideas, processes, formulas, source and object codes, data, programs, other works of authorship, know-how, improvements, discoveries, developments,
designs and techniques (hereinafter collectively referred to as “Inventions”); and (b) information regarding plans for research, development, new products, marketing and selling, business plans, budgets and unpublished
financial statements, licenses, prices and costs, suppliers and customers; and (c) information regarding the skills and compensation of other employees of the Company. Notwithstanding the foregoing, it is understood that, at all such times, I
am free to use information which is generally known in the trade or industry, which is not gained as result of a breach of this Agreement, and my own skill, knowledge, know-how and experience to whatever extent and in whichever way I wish.

 1.3 Third Party Information. I understand, in addition, that the Company has received and in the future will receive from third
parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. During the
term of my employment and thereafter, I will hold Third Party Information in the strictest confidence and will not disclose to anyone (other than Company personnel who need to know such information in connection with their work for the Company) or
use, except in connection with my work for the Company, Third Party Information unless expressly authorized by an officer of the Company in writing. 
 1.4 No Improper Use of Information of Prior Employers and Others. During my employment by the Company I will not improperly use or disclose any confidential information or trade secrets, if any, of any former
employer or any other person to whom I have an obligation of confidentiality, and I will not bring onto the premises of the Company any unpublished documents or any property belonging to any former employer or any other person to whom I have an
obligation of confidentiality unless consented to in writing by that former employer or person. I will use in the 
  

 11. 

 performance of my duties only information which is generally known and used by persons with training and experience
comparable to my own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company. 
 2. ASSIGNMENT OF INVENTIONS. 
 2.1 Proprietary
Rights. The term “Proprietary Rights” shall mean all trade secret, patent, copyright, mask work and other intellectual property rights throughout the world. 
 2.2 Prior Inventions. Inventions, if any, patented or unpatented, which I made prior to the commencement of my employment with the Company are
excluded from the scope of this Agreement. To preclude any possible uncertainty, I have set forth on Exhibit B (Previous Inventions) attached hereto a complete list of all Inventions that I have, alone or jointly with others, conceived,
developed or reduced to practice or caused to be conceived, developed or reduced to practice prior to the commencement of my employment with the Company, that I consider to be my property or the property of third parties and that I wish to have
excluded from the scope of this Agreement (collectively referred to as “Prior Inventions”). If disclosure of any such Prior Invention would cause me to violate any prior confidentiality agreement, I understand that I am not to list
such Prior Inventions in Exhibit B but am only to disclose a cursory name for each such invention, a listing of the party(ies) to whom it belongs and the fact that full disclosure as to such inventions has not been made for that reason.
A space is provided on Exhibit B for such purpose. If no such disclosure is attached, I represent that there are no Prior Inventions. If, in the course of my employment with the Company, I incorporate a Prior Invention into a Company product,
process or machine, the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license (with rights to sublicense through multiple tiers of sublicensees) to make, have made, modify, use and sell such
Prior Invention. Notwithstanding the foregoing, I agree that I will not incorporate, or permit to be incorporated, Prior Inventions in any Company Inventions without the Company’s prior written consent. 
 2.3 Assignment of Inventions. Subject to Sections 2.4, and 2.6, I hereby assign and agree to assign in the future (when any such Inventions or
Proprietary Rights are first reduced to practice or first fixed in a tangible medium, as applicable) to the Company all my right, title and interest in and to any and all Inventions (and all Proprietary Rights with respect thereto) whether or not
patentable or registrable under copyright or similar statutes, made or conceived or reduced to practice or learned by me, either alone or jointly with others, during the period of my employment with the Company. Inventions assigned to the Company,
or to a third party as directed by the Company pursuant to this Section 2, are hereinafter referred to as “Company Inventions.” 
 2.4 Nonassignable Inventions. This Agreement does not apply to an Invention, which qualifies fully as a nonassignable Invention under Section 2870 of the California Labor Code (hereinafter
“Section 2870”). I have reviewed the notification on Exhibit A (Limited Exclusion Notification) and agree that my signature acknowledges receipt of the notification. 
 2.5 Obligation to Keep Company Informed. During the period of my employment and for six (6) months after termination of my employment with
the Company, I will promptly disclose to the Company fully and in writing all Inventions authored, conceived or reduced to practice by me, either alone or jointly with others. In addition, I will promptly disclose to the Company all patent
applications filed by me or on my behalf within a year after termination of employment. At the time of each such disclosure, I will advise the Company in writing of any Inventions that I believe fully qualify for protection under Section 2870;
and I will at that time provide to the Company in writing all evidence necessary to substantiate that belief. The Company will keep in confidence and will not use for any purpose or disclose to third parties without my consent any confidential
information disclosed in writing to the Company pursuant to this Agreement relating to Inventions that qualify fully for protection under the provisions of Section 2870. I will preserve the confidentiality of any Invention that does not fully
qualify for protection under Section 2870. 
  

 12. 

 2.6 Government or Third Party. I also agree to assign all my right, title and interest in and to
any particular Company Invention to a third party, including without limitation the United States, as directed by the Company. 
 2.7
Works for Hire. I acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the scope of my employment and which are protectable by copyright are “works made for hire,” pursuant to
United States Copyright Act (17 U.S.C., Section 101). 
 2.8 Enforcement of Proprietary Rights. I will assist the Company in
every proper way to obtain, and from time to time enforce, United States and foreign Proprietary Rights relating to Company Inventions in any and all countries. To that end I will execute, verify and deliver such documents and perform such other
acts (including appearances as a witness) as the Company may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining and enforcing such Proprietary Rights and the assignment thereof. In addition, I will execute,
verify and deliver assignments of such Proprietary Rights to the Company or its designee. My obligation to assist the Company with respect to Proprietary Rights relating to such Company Inventions in any and all countries shall continue beyond the
termination of my employment, but the Company shall compensate me at a reasonable rate after my termination for the time actually spent by me at the Company’s request on such assistance. 
 In the event the Company is unable for any reason, after reasonable effort, to secure my signature on any document needed in connection with the actions specified in the
preceding paragraph, I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, which appointment is coupled with an interest, to act for and in my behalf to execute, verify
and file any such documents and to do all other lawfully permitted acts to further the purposes of the preceding paragraph with the same legal force and effect as if executed by me. I hereby waive and quitclaim to the Company any and all claims, of
any nature whatsoever, which I now or may hereafter have for infringement of any Proprietary Rights assigned hereunder to the Company. 
 3. RECORDS. I agree to keep and maintain adequate and current records (in the form of notes, sketches, drawings and in any other form that may be required by the Company) of all Proprietary Information developed by me
and all Inventions made by me during the period of my employment at the Company, which records shall be available to and remain the sole property of the Company at all times. 
 4. ADDITIONAL ACTIVITIES. I agree that during the period of my employment by the Company I will not, without the
Company’s express written consent, engage in any employment or business activity which is competitive with, or would otherwise conflict with, my employment by the Company. I agree further that for the period of my employment by the Company and
for one (l) year after the date of termination of my employment by the Company I will not, either directly or through others, solicit or attempt to solicit any employee, independent contractor or consultant of the company to terminate his or
her relationship with the Company in order to become an employee, consultant or independent contractor to or for any other person or entity. 
 5. NO CONFLICTING OBLIGATION. I represent that my performance of all the terms of this Agreement and as an employee of the Company does not and will not breach any agreement to keep in
confidence information acquired by me in confidence or in trust prior to my employment by the Company. I have not entered into, and I agree I will not enter into, any agreement either written or oral in conflict herewith. 
 6. RETURN OF COMPANY DOCUMENTS. When I leave the employ of the Company, I will deliver
to the Company any and all drawings, notes, memoranda, specifications, devices, formulas, and documents, together with all copies thereof, and any other material containing or disclosing any Company Inventions, Third Party Information or Proprietary
Information of the Company. I further agree that any property situated on the Company’s premises and owned by the 

  

 13. 

 
Company, including disks and other storage media, filing cabinets or other work areas, is subject to inspection by Company personnel at any time with or
without notice. Prior to leaving, I will cooperate with the Company in completing and signing the Company’s termination statement. 
 7. LEGAL AND EQUITABLE REMEDIES. Because my services are personal and unique and because I may have access to and become acquainted with the Proprietary Information of the
Company, the Company shall have the right to enforce this Agreement and any of its provisions by injunction, specific performance or other equitable relief, without bond and without prejudice to any other rights and remedies that the Company may
have for a breach of this Agreement. 
 8. NOTICES. Any notices required or permitted hereunder shall be given to the
appropriate party at the address specified below or at such other address as the party shall specify in writing. Such notice shall be deemed given upon personal delivery to the appropriate address or if sent by certified or registered mail, three
(3) days after the date of mailing. 
 9. NOTIFICATION OF NEW
EMPLOYER. In the event that I leave the employ of the Company, I hereby consent to the notification of my new employer of my rights and obligations under this Agreement. 
 10. GENERAL PROVISIONS. 
 10.1 Governing Law; Consent to Personal Jurisdiction. This Agreement will be governed by and construed according to the laws of the State of California, as such laws are applied to agreements entered into and
to be performed entirely within California between California residents. I hereby expressly consent to the personal jurisdiction of the state and federal courts located in
                     County, California for any lawsuit filed there against me by Company arising from or related to this Agreement.

 10.2 Severability. In case any one or more of the provisions contained in this Agreement shall, for any reason, be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision
had never been contained herein. If moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by
limiting and reducing it, so as to be enforceable to the extent compatible with the applicable law as it shall then appear. 
 10.3
Successors and Assigns. This Agreement will be binding upon my heirs, executors, administrators and other legal representatives and will be for the benefit of the Company, its successors, and its assigns. 
 10.4 Survival. The provisions of this Agreement shall survive the termination of my employment and the assignment of this Agreement by the Company
to any successor in interest or other assignee. 
 10.5 Employment. I agree and understand that nothing in this Agreement shall confer
any right with respect to continuation of employment by the Company, nor shall it interfere in any way with my right or the Company’s right to terminate my employment at any time, with or without cause. 
 10.6 Waiver. No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding or succeeding breach. No waiver by the
Company of any right under this Agreement shall be construed as a waiver of any other right. The Company shall not be required to give notice to enforce strict adherence to all terms of this Agreement. 
 10.7 Entire Agreement. The obligations pursuant to Sections 1 and 2 of this Agreement shall apply to any time during which I was previously
employed, or am in the future employed, by the Company as a consultant if no other agreement governs nondisclosure and assignment of inventions during such period. This Agreement is the final, complete and exclusive agreement of the parties with
respect to the subject matter hereof and supersedes and merges all prior discussions between us. No modification of or amendment to this Agreement, nor any waiver of any rights under 
  

 14. 

 this Agreement, will be effective unless in writing and signed by the party to be charged. Any subsequent change or
changes in my duties, salary or compensation will not affect the validity or scope of this Agreement. 
 This Agreement shall be effective as
of the first day of my employment with the Company, namely:                     , 20__. 
 I HAVE READ THIS AGREEMENT CAREFULLY AND
UNDERSTAND ITS TERMS. I HAVE COMPLETELY FILLED OUT EXHIBIT B TO THIS
AGREEMENT. 
  

			
		 	Dated:                    
		
		 	  

		 	(Signature)
		
		 	  

		 	(Printed Name)
		
		 	ACCEPTED AND AGREED TO:

  

					
		
		 	RENOVIS, INC.
			
		 	By:	 	  

		 	Name and Title:

 MARLENE PERRY 
 SENIOR VICE PRESIDENT HUMAN RESOURCES 
 RENOVIS, INC. 
 2 CORPORATE DRIVE 
 SOUTH SAN FRANCISCO, CA 94080 
 Dated:                      
  

 15. 

 EXHIBIT A 
 LIMITED EXCLUSION NOTIFICATION 
 THIS IS
TO NOTIFY you in accordance with Section 2872 of the California Labor Code that the foregoing Agreement between you and the Company does not require you to assign or offer to assign to the Company any invention
that you developed entirely on your own time without using the Company’s equipment, supplies, facilities or trade secret information except for those inventions that either: 
 1. Relate at the time of conception or reduction to practice of the invention to the Company’s business, or actual or demonstrably anticipated
research or development of the Company; or 
 2. Result from any work performed by you for the Company. 
 To the extent a provision in the foregoing Agreement purports to require you to assign an invention otherwise excluded from the preceding paragraph, the
provision is against the public policy of this state and is unenforceable. 
 This limited exclusion does not apply to any patent or
invention covered by a contract between the Company and the United States or any of its agencies requiring full title to such patent or invention to be in the United States. 
 I ACKNOWLEDGE RECEIPT of a copy of this notification. 

			
	By:	 	  

		 	(PRINTED NAME OF EMPLOYEE)
		
	Date:	 	  

  

	
	WITNESSED BY:
	
	  

	
	MARLENE PERRY
	
	SENIOR VICE PRESIDENT OF HUMAN RESOURCES

  

 A-1. 

 EXHIBIT B 
 TO: Renovis, Inc. 
  

							
	 FROM:
	 		 	  
	 	
				
	 DATE:
	 		 	  
	 	

 SUBJECT: Previous Inventions 
 1. Except as listed in Section 2 below, the following is a complete list of all inventions or improvements relevant to the subject matter of my employment by [Company] (the “Company”) that
have been made or conceived or first reduced to practice by me alone or jointly with others prior to my engagement by the Company: 
  ̈ No inventions or improvements. 
  ̈ See below: 
 ____________________________________________________________________________________ 
 ____________________________________________________________________________________ 
 ____________________________________________________________________________________ 
  ̈  Additional sheets attached. 
 2. Due to a prior
confidentiality agreement, I cannot complete the disclosure under Section 1 above with respect to inventions or improvements generally listed below, the proprietary rights and duty of confidentiality with respect to which I owe to the following
party(ies): 
  
  

							
	Invention or Improvement	 	Party(ies)	 	Relationship
	 1.
	 	  
	 	  
	 	  

				
	 2.
	 	  
	 	  
	 	  

				
	 3.
	 	  
	 	  
	 	  

  ̈  Additional sheets attached. 
 Confidential 
  

 1Renovis, Inc. 2007 Employment Commencement Incentive Plan

 Exhibit 10.2 
 RENOVIS, INC. 
 2007 EMPLOYMENT COMMENCEMENT INCENTIVE PLAN 
 ADOPTED BY THE BOARD OF DIRECTORS ON
JANUARY 3, 2007 
 EFFECTIVE AS OF JANUARY 3, 2007

 ARTICLE 1 
 PURPOSE 
 1.1 GENERAL. 
 (a) ELIGIBLE STOCK AWARD RECIPIENTS. Only Eligible Participants may receive Awards under the Plan. 
 (b)
GENERAL PURPOSE. The purpose of the Plan is to promote the success and enhance the value of Renovis, Inc. (the “Company”) by linking the personal interests of Eligible Participants to those of Company stockholders and by providing
such individuals with an incentive for outstanding performance to generate superior returns to Company stockholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of
Eligible Participants upon whose judgment, interest, and special effort the successful conduct of the Company’s operation will be largely dependent. 
 ARTICLE 2 
 DEFINITIONS AND CONSTRUCTION 
 2.1 DEFINITIONS. The following words and phrases shall have the following meanings: 
 (a) “Award” means an Option, a Restricted Stock award, a Stock Appreciation Right award, a Performance Share award, a Dividend
Equivalents award, a Stock Payment award, or a Deferred Stock award granted to an Eligible Participant pursuant to the Plan. 
 (b)
“Award Agreement” means any written agreement, contract, or other instrument or document evidencing an Award. 
 (c)
“Board” means the Board of Directors of the Company. 
 (d) “Change of Control” means and includes each of
the following: 
 (1) the acquisition, directly or indirectly, by any “person” or “group” (as those terms are defined in
Sections 3(a)(9), 13(d) and 14(d) of the Exchange Act and the rules thereunder) of “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange Act) of securities entitled to vote generally in the election of
directors (“voting securities”) of the Company that represent 50% or more of the combined voting power of the Company’s then outstanding voting securities, other than 
  

 1 

 (A) an acquisition by a trustee or other fiduciary holding securities under any employee benefit plan
(or related trust) sponsored or maintained by the Company or any person controlled by the Company or by any employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company, or 
 (B) an acquisition of voting securities by the Company or a corporation owned, directly or indirectly by the stockholders of the Company in
substantially the same proportions as their ownership of the stock of the Company, or 
 (C) an acquisition of voting securities pursuant to
a transaction described in clause (3) below that would not be a Change of Control under clause (3). 
 Notwithstanding the
foregoing, the following event shall not constitute an “acquisition” by any person or group for purposes of this subsection (d): an acquisition of the Company’s securities by the Company which causes the Company’s voting
securities beneficially owned by a person or group to represent 50% or more of the combined voting power of the Company’s then outstanding voting securities; provided, however, that if a person or group shall become the beneficial
owner of 50% or more of the combined voting power of the Company’s then outstanding voting securities by reason of share acquisitions by the Company as described above and shall, after such share acquisitions by the Company, become the
beneficial owner of any additional voting securities of the Company, then such acquisition shall constitute a Change of Control; or 
 (2)
during any period of two consecutive years, individuals who, at the beginning of such period, constitute the Board together with any new director(s) (other than a director designated by a person who shall have entered into an agreement with the
Company to effect a transaction described in clauses (1) or (3) of this subsection (d)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the
directors then still in office who either were directors at the beginning of the two year period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or 
 (3) the consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of
(x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets or (z) the acquisition of assets or stock of another entity, in each case
other than a transaction 
 (A) which results in the Company’s voting securities outstanding immediately before the transaction
continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly,
all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of the combined voting
power of the Successor Entity’s outstanding voting securities immediately after the transaction, and 
  

 2 

 (B) after which no person or group beneficially owns voting securities representing 50% or more of the
combined voting power of the Successor Entity; provided, however, that no person or group shall be treated for purposes of this clause (B) as beneficially owning 50% or more of combined voting power of the Successor Entity solely
as a result of the voting power held in the Company prior to the consummation of the transaction; or 
 (4) the Company’s stockholders
approve a liquidation or dissolution of the Company. 
 The Committee shall have full and final authority, which shall be exercised in its
discretion, to determine conclusively whether a Change of Control of the Company has occurred pursuant to the above definition, and the date of the occurrence of such Change of Control and any incidental matters relating thereto. 
 (e) “Code” means the Internal Revenue Code of 1986, as amended. 
 (f) “Committee” means the Board or the Compensation Committee of the Board as further described in Article 11. 
 (g) “Deferred Stock” means a right to receive a specified number of shares of Stock during specified time periods
pursuant to Article 8. 
 (h) “Director” means a member of the Board. 
 (i) “Disability” means, for purposes of the Plan, that the Participant qualifies to receive long-term disability payments under the
Company’s long-term disability insurance program, as it may be amended from time to time. 
 (j) “Dividend Equivalents”
means a right granted to a Participant pursuant to Article 8 to receive the equivalent value (in cash or Stock) of dividends paid on Stock. 
 (k) “Eligible Participant” means any Employee who has not previously been an Employee or Director of the Company or a Subsidiary, or is commencing employment with the Company or a Subsidiary following a bona fide period of
non-employment by the Company or a Subsidiary, if he or she is granted an Award in connection with his or her commencement of employment with the Company or a Subsidiary and such grant is an inducement material to his or her entering into employment
with the Company or a Subsidiary. The Board may in its discretion adopt procedures from time to time to ensure that an Employee is eligible to participate in the Plan prior to the granting of any Awards to such Employee under the Plan (including,
without limitation, a requirement, that each such Employee certify to the Company prior to the receipt of an Award under the Plan that he or she has not been previously employed by the Company or a Subsidiary, or if previously employed, has had a
bona fide period of non-employment, and that the grant of Awards under the Plan is an inducement material to his or her agreement to enter into employment with the Company or a Subsidiary). 
 (l) “Employee” means any officer or other employee (as defined in accordance with Section 3401(c) of the Code) of the Company or
any Subsidiary. 
  

 3 

 (m) “Equity Restructuring” a non-reciprocal transaction between the Company and its
stockholders, such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, that affects the shares of Stock (or other securities of the Company) or the share price of Stock (or
other securities) and causes a change in the per share value of the Stock underlying outstanding Awards. 
 (n) “Exchange
Act” means the Securities Exchange Act of 1934, as amended. 
 (o) “Fair Market Value” means, as of any date, the
value of Stock determined as follows: 
 (1) If the Stock is listed on any established stock exchange or a national market system, its Fair
Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for such date, or if no bids or sales were reported for such date, then the closing sales price (or the
closing bid, if no sales were reported) on the trading date immediately prior to such date during which a bid or sale occurred, in each case, as reported in The Wall Street Journal or such other source as the Committee deems reliable;

 (2) If the Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value shall
be the mean of the closing bid and asked prices for the Stock on such date, or if no closing bid and asked prices were reported for such date, the date immediately prior to such date during which closing bid and asked prices were quoted for the
Stock, in each case, as reported in The Wall Street Journal or such other source as the Committee deems reliable; or 
 (3) In the
absence of an established market for the Stock, the Fair Market Value thereof shall be determined in good faith by the Committee. 
 (p)
“Incentive Stock Option” means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto. Incentive Stock Options may not be granted under the Plan. 
 (q) “Independent Director” means a Director who is not an Employee of the Company and who qualifies as “independent” within
the meaning of NASD Rule 4200(a)(14), if the Company’s securities are traded on the Nasdaq National Market, or the requirements of any other established stock exchange on which the Company’s securities are traded, as such rules or
requirements may be amended from time to time. 
 (r) “NASD” means the National Association of Securities Dealers, Inc.

 (s) “Non-Qualified Stock Option” means an Option that is not intended to be an Incentive Stock Option. 
 (t) “Option” means a right granted to a Participant pursuant to Article 5 of the Plan to purchase a specified number of shares of Stock
at a specified price during specified time periods. Any Option granted under this Plan must be a Non-Qualified Stock Option. 
  

 4 

 (u) “Participant” means an Eligible Participant who has been granted an Award pursuant
to the Plan. 
 (v) “Performance Share” means a right granted to a Participant pursuant to Article 8, to receive cash,
Stock, or other Awards, the payment of which is contingent upon achieving certain performance goals established by the Committee. 
 (w)
“Plan” means this Renovis, Inc. 2007 Employment Commencement Incentive Plan, as it may be amended from time to time. 
 (x)
“Restricted Stock” means Stock awarded to a Participant pursuant to Article 6 that is subject to certain restrictions and to risk of forfeiture. 
 (y) “Stock” means the common stock of the Company and such other securities of the Company that may be substituted for Stock pursuant to Article 10. 
 (z) “Stock Appreciation Right” or “SAR” means a right granted pursuant to Article 7 to receive a payment equal to the
excess of the Fair Market Value of a specified number of shares of Stock on the date the SAR is exercised over the Fair Market Value on the date the SAR was granted as set forth in the applicable Award Agreement. 
 (aa) “Stock Payment” means (a) a payment in the form of shares of Stock, or (b) an option or other right to purchase shares of
Stock, as part of any bonus, deferred compensation or other arrangement, made in lieu of all or any portion of the compensation, granted pursuant to Article 8. 
 (bb) “Subsidiary” means any corporation or other entity of which a majority of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Company. 
 ARTICLE 3 
 SHARES SUBJECT TO THE
PLAN 
 3.1 NUMBER OF SHARES. 
 (a) Subject to Article 10, the aggregate number of shares of Stock which may be issued or transferred pursuant to Awards under the Plan shall be 250,000 shares. 
 The payment of Dividend Equivalents in conjunction with any outstanding Awards shall not be counted against the shares available for issuance under the
Plan. 
 (b) To the extent that an Award terminates, expires, or lapses for any reason, any shares of Stock subject to the Award shall again
be available for the grant of an Award pursuant to the Plan. Additionally, any shares of Stock tendered or withheld to satisfy the grant or exercise price or tax withholding obligation pursuant to any Award shall again be available for the grant of
an Award pursuant to the Plan. To the extent permitted by applicable law or any exchange rule, shares of Stock issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by the Company
or any Subsidiary shall not be counted against shares of Stock available for grant pursuant to the Plan. 
  

 5 

 3.2 STOCK DISTRIBUTED. Any Stock distributed pursuant to an Award may consist, in whole or
in part, of authorized and unissued Stock, treasury Stock or Stock purchased on the open market. 
 ARTICLE 4 
 ELIGIBILITY AND PARTICIPATION 
 4.1
ELIGIBILITY. 
 (a) GENERAL. Awards may be granted only to Eligible Participants. All Options granted under the Plan shall be
Non-Qualified Stock Options. 
 (b) FOREIGN PARTICIPANTS. In order to assure the viability of Awards granted to Participants employed in
foreign countries, the Committee may provide for such special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom. Moreover, the Committee may approve such supplements to, or amendments,
restatements, or alternative versions of, the Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of the Plan as in effect for any other purpose; provided, however, that no such
supplements, amendments, restatements, or alternative versions shall increase the share limitations contained in Section 3.1 of the Plan. 
 4.2 ACTUAL PARTICIPATION. Subject to the provisions of the Plan, the Committee may, from time to time, select from among all eligible individuals, those to whom Awards shall be granted and shall determine the nature and amount
of each Award. No individual shall have any right to be granted an Award pursuant to the Plan. 
 ARTICLE 5 
 STOCK OPTIONS 
 5.1
GENERAL. Options may be granted to Eligible Participants on the following terms and conditions: 
 (a) EXERCISE PRICE. The
exercise price per share of Stock subject to an Option shall be determined by the Committee and set forth in the Award Agreement; provided, that the exercise price for any Option shall not be less than Fair Market Value of a share of Stock on
the date of grant. 
 (b) TIME AND CONDITIONS OF EXERCISE. The Committee shall determine the time or times at which an Option may be
exercised in whole or in part; provided, that the term of any Option granted under the Plan shall not exceed ten years; and provided, further, that such Option shall be exercisable for not less than one year after the date of
the Participant’s death. The Committee shall also determine the performance or other conditions, if any, that must be satisfied before all or part of an Option may be exercised. 
  

 6 

 (c) PAYMENT. The Committee shall determine the methods by which the exercise price of an Option may be
paid, the form of payment, including, without limitation, cash, promissory note bearing interest at no less than such rate as shall then preclude the imputation of interest under the Code, shares of Stock held for longer than six months having a
Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof, or other property acceptable to the Committee (including through the delivery of a notice that the Participant has placed a
market sell order with a broker with respect to shares of Stock then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option
exercise price; provided, that payment of such proceeds is then made to the Company upon settlement of such sale), and the methods by which shares of Stock shall be delivered or deemed to be delivered to Participants. Notwithstanding any
other provision of the Plan to the contrary, no Participant who is a member of the Board or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to pay the exercise price of
an Option in any method which would violate Section 13(k). 
 (d) EVIDENCE OF GRANT. All Options shall be evidenced by a written Award
Agreement between the Company and the Participant. The Award Agreement shall include such additional provisions as may be specified by the Committee. 
 ARTICLE 6 
 RESTRICTED STOCK AWARDS 
 6.1 GRANT OF RESTRICTED STOCK. Restricted Stock may be awarded to any Eligible Participant in such amounts and subject to such terms and
conditions as determined by the Committee. All Awards of Restricted Stock shall be evidenced by a written Restricted Stock Award Agreement. 
 6.2 ISSUANCE AND RESTRICTIONS. Restricted Stock shall be subject to such restrictions on transferability and other restrictions as the Committee may impose (including, without limitation, limitations on the right to vote
Restricted Stock or the right to receive dividends on the Restricted Stock). These restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at
the time of the grant of the Award or thereafter. 
 6.3 FORFEITURE. Except as otherwise determined by the Committee at the
time of the grant of the Award or thereafter, upon termination of employment or service during the applicable restriction period, Restricted Stock that is at that time subject to restrictions shall be forfeited; provided, however, that the
Committee may provide in any Restricted Stock Award Agreement that restrictions or forfeiture conditions relating to Restricted Stock will be waived in whole or in part in the event of terminations resulting from specified causes, and the Committee
may in other cases waive in whole or in part restrictions or forfeiture conditions relating to Restricted Stock. 
 6.4 CERTIFICATES
FOR RESTRICTED STOCK. Restricted Stock granted pursuant to the Plan may be evidenced in such manner as the Committee shall determine. If certificates representing shares of Restricted Stock are registered in the name of the Participant,
certificates must bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock, and the Company may, at its discretion, retain physical possession of the certificate until such time as all
applicable restrictions lapse. 
  

 7 

 ARTICLE 7 
 STOCK APPRECIATION RIGHTS 
 7.1 GRANT OF STOCK APPRECIATION RIGHTS. A Stock
Appreciation Right may be granted to any Eligible Participant selected by the Committee. A Stock Appreciation Right may be granted (a) in connection and simultaneously with the grant of an Option, (b) with respect to a previously granted
Option, or (c) independent of an Option. A Stock Appreciation Right shall be subject to such terms and conditions not inconsistent with the Plan as the Committee shall impose and shall be evidenced by an Award Agreement. 
 7.2 COUPLED STOCK APPRECIATION RIGHTS. 
 (a) A Coupled Stock Appreciation Right (“CSAR”) shall be related to a particular Option and shall be exercisable only when and to the extent the related Option is exercisable. 
 (b) A CSAR may be granted to a Participant for no more than the number of shares subject to the simultaneously or previously granted Option to which it
is coupled. 
 (c) A CSAR shall entitle the Participant (or other person entitled to exercise the Option pursuant to the Plan) to surrender
to the Company unexercised a portion of the Option to which the CSAR relates (to the extent then exercisable pursuant to its terms) and to receive from the Company in exchange therefor an amount determined by multiplying the difference obtained by
subtracting the Option exercise price from the Fair Market Value of a share of Stock on the date of exercise of the CSAR by the number of shares of Stock with respect to which the CSAR shall have been exercised, subject to any limitations the
Committee may impose. 
 7.3 INDEPENDENT STOCK APPRECIATION RIGHTS. 
 (a) An Independent Stock Appreciation Right (“ISAR”) shall be unrelated to any Option and shall have a term set by the Committee. An ISAR
shall be exercisable in such installments as the Committee may determine. An ISAR shall cover such number of shares of Stock as the Committee may determine. The exercise price per share of Stock subject to each ISAR shall be set by the Committee;
provided, however, that the Committee in its sole and absolute discretion may provide that the ISAR may be exercised subsequent to a termination of employment or service, as applicable, or following a Change of Control, or because of
the Participant’s retirement, death or Disability, or otherwise. 
 (b) An ISAR shall entitle the Participant (or other person entitled
to exercise the ISAR pursuant to the Plan) to exercise all or a specified portion of the ISAR (to the extent then exercisable pursuant to its terms) and to receive from the Company an amount determined by multiplying the difference obtained by
subtracting the exercise price per share of the ISAR from the Fair Market Value of a share of Stock on the date of exercise of the ISAR by the number of shares of Stock with respect to which the ISAR shall have been exercised, subject to any
limitations the Committee may impose. 
  

 8 

 7.4 PAYMENT AND LIMITATIONS ON EXERCISE. 
 (a) Payment of the amounts determined under Section 7.2(c) and 7.3(b) above shall be in cash, in Stock (based on its Fair Market Value as of the date
the Stock Appreciation Right is exercised) or a combination of both, as determined by the Committee. 
 (b) To the extent any payment under
Section 7.2(c) or 7.3(b) is effected in Stock it shall be made subject to satisfaction of all provisions of Article 5 above pertaining to Options. 
 ARTICLE 8 
 OTHER TYPES OF AWARDS 
 8.1 PERFORMANCE SHARE AWARDS. Any Eligible Participant selected by the Committee may be granted one or more Performance Share awards which
may be denominated in a number of shares of Stock or in a dollar value of shares of Stock and which may be linked to any one or more specific performance criteria determined appropriate by the Committee, in each case on a specified date or dates or
over any period or periods determined by the Committee. In making such determinations, the Committee shall consider (among such other factors as it deems relevant in light of the specific type of award) the contributions, responsibilities and other
compensation of the particular Participant. 
 8.2 DIVIDEND EQUIVALENTS. Any Eligible Participant selected by the Committee may
be granted Dividend Equivalents based on the dividends declared on the shares of Stock that are subject to any Award, to be credited as of dividend payment dates, during the period between the date the Award is granted and the date the Award is
exercised, vests or expires, as determined by the Committee. Such Dividend Equivalents shall be converted to cash or additional shares of Stock by such formula and at such time and subject to such limitations as may be determined by the Committee.

 8.3 STOCK PAYMENTS. Any Eligible Participant selected by the Committee may receive Stock Payments in the manner determined
from time to time by the Committee. The number of shares shall be determined by the Committee and may be based upon specific performance criteria determined appropriate by the Committee, determined on the date such Stock Payment is made or on any
date thereafter. 
 8.4 DEFERRED STOCK. Any Eligible Participant selected by the Committee may be granted an award of Deferred
Stock in the manner determined from time to time by the Committee. The number of shares of Deferred Stock shall be determined by the Committee and may be linked to specific performance criteria determined to be appropriate by the Committee, in each
case on a specified date or dates or over any period or periods determined by the Committee. Stock underlying a Deferred Stock award will not be issued until the Deferred Stock award has vested, pursuant to a vesting schedule or performance criteria
set by the Committee. Unless otherwise provided by the Committee, a Participant awarded Deferred Stock shall have no rights as a Company stockholder with respect to such Deferred Stock until such time as the Deferred Stock award has vested and the
Stock underlying the Deferred Stock award has been issued. 
  

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 8.5 TERM. The term of any Award of Performance Shares, Dividend Equivalents, Stock Payments
or Deferred Stock shall be set by the Committee in its discretion. 
 8.6 EXERCISE OR PURCHASE PRICE. The Committee may
establish the exercise or purchase price of any Award of Performance Shares, Deferred Stock or Stock Payments; provided, however, that such price shall not be less than the par value of a share of Stock, unless otherwise permitted by
applicable state law. 
 8.7 EXERCISE UPON TERMINATION OF EMPLOYMENT OR SERVICE. An Award of Performance Shares, Dividend
Equivalents, Deferred Stock and Stock Payments shall only be exercisable or payable while the Participant is an Employee of the Company; provided, however, that the Committee in its sole and absolute discretion may provide that an Award of
Performance Shares, Dividend Equivalents, Stock Payments or Deferred Stock may be exercised or paid subsequent to a termination of employment or service, as applicable, or following a Change of Control, or because of the Participant’s
retirement, death or Disability, or otherwise. 
 8.8 FORM OF PAYMENT. Payments with respect to any Awards granted under this
Article 8 shall be made in cash, in Stock or a combination of both, as determined by the Committee. 
 8.9 AWARD AGREEMENT. All
Awards under this Article 8 shall be subject to such additional terms and conditions as determined by the Committee and shall be evidenced by a written Award Agreement. 
 ARTICLE 9 
 PROVISIONS APPLICABLE TO AWARDS 
 9.1 STAND-ALONE AND TANDEM AWARDS. Awards granted pursuant to the Plan may, in the discretion of the Committee, be granted either alone, in
addition to, or in tandem with, any other Award granted pursuant to the Plan. Awards granted in addition to or in tandem with other Awards may be granted either at the same time as or at a different time from the grant of such other Awards.

 9.2 AWARD AGREEMENT. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and
limitations for each Award which may include the term of an Award, the provisions applicable in the event the Participant’s employment or service terminates, and the Company’s authority to unilaterally or bilaterally amend, modify,
suspend, cancel or rescind an Award. 
 9.3 LIMITS ON TRANSFER. No right or interest of a Participant in any Award may be
pledged, encumbered, or hypothecated to or in favor of any party other than the Company or a Subsidiary, or shall be subject to any lien, obligation, or liability of such Participant to any other party other than the Company or a Subsidiary. No
Award shall be assigned, transferred, or otherwise disposed of by a Participant other than by will or the laws of descent and distribution. 
  

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 9.4 BENEFICIARIES. Notwithstanding Section 9.3, a Participant may, in the manner determined
by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary, legal guardian, legal representative, or other person
claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant, except to the extent the Plan and Award Agreement otherwise provide, and to any additional
restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community property state, a designation of a person other than the Participant’s spouse as his beneficiary with respect to more than
50% of the Participant’s interest in the Award shall not be effective without the prior written consent of the Participant’s spouse. If no beneficiary has been designated or survives the Participant, payment shall be made to the person
entitled thereto pursuant to the Participant’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided the change or revocation is filed
with the Committee. 
 9.5 STOCK CERTIFICATES. Notwithstanding anything herein to the contrary, the Company shall not be
required to issue or deliver any certificates evidencing shares of Stock pursuant to the exercise of any Award, unless and until the Board has determined, with advice of counsel, that the issuance and delivery of such certificates is in compliance
with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the shares of Stock are listed or traded. All Stock certificates delivered pursuant to the Plan are subject to any
stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with federal, state, or foreign jurisdiction, securities or other laws, rules and regulations and the rules of any national securities exchange or
automated quotation system on which the Stock is listed, quoted, or traded. The Committee may place legends on any Stock certificate to reference restrictions applicable to the Stock. In addition to the terms and conditions provided herein, the
Board may require that a Participant make such reasonable covenants, agreements, and representations as the Board, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. The Committee shall have the
right to require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including a window-period limitation, as may be imposed in the discretion of the Committee. 
 ARTICLE 10 
 CHANGES IN CAPITAL
STRUCTURE 
 10.1 ADJUSTMENTS. 
 (a) EQUITY RESTRUCTURING. In connection with the occurrence of any Equity Restructuring, and notwithstanding anything to the contrary in Section 10.1(b): 
 (1) The number and type of securities subject to each outstanding Award and the exercise price or grant price per share thereof, as well as any other
applicable terms and conditions of each outstanding Award (including, without limitation, any performance 
  

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 targets or criteria with respect thereto), will be proportionately adjusted. The adjustments provided under this
Section 10.1(a)(1) shall be nondiscretionary and shall be final and binding on the affected Participant and the Company. 
 (2) The
Committee shall make such proportionate adjustments, if any, as the Committee in its discretion may deem appropriate to reflect such Equity Restructuring with respect to the aggregate number and kind of shares that may be issued under the Plan
(including, but not limited to, adjustments of the limitation in Section 3.1). 
 (b) OTHER CHANGES IN CAPITAL STRUCTURE. In the event
that the Committee determines that other than an Equity Restructuring, any dividend or other distribution (whether in the form of cash, Stock, other securities or other property), reorganization, merger, consolidation, combination, repurchase,
liquidation, dissolution, or sale transfer, exchange or other disposition of all or substantially all of the assets of the Company, or exchange of Stock or other securities of the Company, issuance or warrants or other rights to purchase Stock or
other securities of the Company or other similar corporate transaction or event, in the Committee’s sole discretion, affects the Stock such that an adjustment 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 or with respect to an Award, then the Committee shall, in such manner as it may deem equitable, adjust any or all of: 
 (1) The number and kind of shares of Stock (or other securities or property) with respect to which Awards may be granted or awarded (including, but not
limited to, adjustments of the limitation in Section 3.1 on the maximum number and kind of shares which may be issued); 
 (2) The
number and kind of shares of Stock (or other securities or property) subject to outstanding Awards; and 
 (3) The grant or exercise price
per share with respect to any outstanding Award, as well as any other applicable terms and conditions of each outstanding Award (including, without limitation, any performance targets or criteria with respect thereto). 
 10.2 ACCELERATION UPON A CHANGE OF CONTROL. If a Change of Control occurs and a Participant’s Awards are not converted, assumed, or
replaced by a successor, such Awards shall become fully exercisable and all forfeiture restrictions on such Awards shall lapse. Upon, or in anticipation of, a Change of Control, the Committee may cause any and all Awards outstanding hereunder to
terminate at a specific time in the future and shall give each Participant the right to exercise such Awards during a period of time as the Committee, in its sole and absolute discretion, shall determine. In the event that the terms of any agreement
between the Company or any Subsidiary or affiliate and a Participant contains provisions that conflict with and are more restrictive than the provisions of this Section 10.2, this Section 10.2 shall prevail and control and the more restrictive terms
of such agreement (and only such terms) shall be of no force or effect. 
 10.3 OUTSTANDING AWARDS – CERTAIN MERGERS.
Subject to any required action by the stockholders of the Company, in the event that the Company shall be the 
  

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 surviving corporation in any merger or consolidation (except a merger or consolidation as a result of which the holders
of shares of Stock receive securities of another corporation), each Award outstanding on the date of such merger or consolidation shall pertain to and apply to the securities that a holder of the number of shares of Stock subject to such Award would
have received in such merger or consolidation. 
 10.4 OUTSTANDING AWARDS – OTHER CHANGES. In the event of any other
change in the capitalization of the Company or corporate change other than those specifically referred to in this Article 10, the Committee may, in its absolute discretion, make such adjustments in the number and class of shares subject to Awards
outstanding on the date on which such change occurs and in the per share grant or exercise price of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights. 
 10.5 NO OTHER RIGHTS. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or
consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation.
Except as expressly provided in the Plan or pursuant to action of the Committee under the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment
by reason thereof shall be made with respect to, the number of shares of Stock subject to an Award or the grant or exercise price of any Award. 
 ARTICLE 11 
 ADMINISTRATION 
 11.1 COMMITTEE. Unless and until the Board delegates administration to the Committee as set forth below, the Plan shall be administered by the Board, which shall, in such event, constitute the
“Committee” for the purposes of the Plan. Any action taken by the Board in connection with the administration of the Plan shall not be deemed approved by the Board unless such actions are approved by a majority of the Independent
Directors. The Board may delegate administration of the Plan to the Committee, and the term “Committee” shall apply to any person or persons to whom such authority has been delegated; provided, however, that such
Committee be comprised of a majority of or solely two or more Independent Directors. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the
Board, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in the Plan to the Board shall thereafter be to the Committee or subcommittee), subject, however, to
such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. 
 The Board may
abolish the Committee at any time and revest in the Board the administration of the Plan. Any action taken by the Board in connection with the administration of the Plan shall continue to not be deemed approved by the Board unless such actions are
approved by a majority of the Independent Directors. Appointment of Committee members shall be effective upon acceptance of appointment. Committee members may resign at any time by delivering written notice to the Board. Vacancies in the Committee
may only be filled by the Board. 
  

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 11.2 ACTION BY THE COMMITTEE. A majority of the Committee shall constitute a quorum. The
acts of a majority of the members present at any meeting at which a quorum is present, and acts approved in writing by a majority of the Committee in lieu of a meeting, shall be deemed the acts of the Committee. Each member of the Committee is
entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any Subsidiary, the Company’s independent certified public accountants, or any executive
compensation consultant or other professional retained by the Company to assist in the administration of the Plan. 
 11.3 AUTHORITY OF
COMMITTEE. Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion to: 
 (a)
Adopt procedures from time to time in the Committee’s discretion to ensure that an Employee is eligible to participate in the Plan prior to the granting of any Awards to such Employee under the Plan (including, without limitation, a
requirement, if any, that each such Employee certify to the Company prior to the receipt of an Award under the Plan that he or she has not been previously employed by the Company or a Subsidiary, or if previously employed, has had a bona fide period
of non-employment, and that the grant of Awards under the Plan is an inducement material to his or her agreement to enter into employment with the Company or a Subsidiary); 
 (b) Designate Participants to receive Awards; 
 (c) Determine the type or types of Awards to be granted to each Participant; 
 (d) Determine the number of Awards to be granted and
the number of shares of Stock to which an Award will relate; 
 (e) Determine the terms and conditions of any Award granted pursuant to the
Plan, including, but not limited to, the exercise price, grant price, or purchase price, any reload provision, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of
an Award, and accelerations or waivers thereof, any provisions related to non-competition and recapture of gain on an Award, based in each case on such considerations as the Committee in its sole discretion determines; 
 (f) Determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be paid in
cash, Stock, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; 
 (g) Prescribe the form of each Award
Agreement, which need not be identical for each Participant; 
 (h) Decide all other matters that must be determined in connection with an
Award; 
  

 14 

 (i) Establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to
administer the Plan; 
 (j) Interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement; and 
 (k) Make all other decisions and determinations that may be required pursuant to the Plan or as the Committee deems necessary or advisable to administer
the Plan. 
 11.4 DECISIONS BINDING. The Committee’s interpretation of the Plan, any Awards granted pursuant to the Plan,
any Award Agreement and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties. 
 ARTICLE 12 
 EFFECTIVE AND EXPIRATION DATE 
 12.1 EFFECTIVE DATE. The Plan is effective as of the later of January 1, 2007 or the date of its adoption by the Board (the
“Effective Date”). 
 12.2 EXPIRATION DATE. The Plan will expire on, and no Award may be granted pursuant to
the Plan after December 31, 2007 (the “Expiration Date”). Any Awards that are outstanding on the Expiration Date shall remain in force according to the terms of the Plan and the applicable Award Agreement. Each Award Agreement shall
provide that it will expire no later than the tenth anniversary of the date of grant of the Award to which it relates. 
 ARTICLE 13

 AMENDMENT, MODIFICATION, AND TERMINATION 
 13.1 AMENDMENT, MODIFICATION, AND TERMINATION. With the approval of the Board, at any time and from time to time, the Committee may terminate, amend or modify the Plan; provided, however,
that to the extent necessary and desirable to comply with any applicable law, regulation, or stock exchange rule, the Company shall obtain stockholder approval of any Plan amendment in such a manner and to such a degree as required. 
 13.2 AWARDS PREVIOUSLY GRANTED. No termination, amendment, or modification of the Plan shall adversely affect in any material way any Award
previously granted pursuant to the Plan without the prior written consent of the Participant. 
 ARTICLE 14 
 GENERAL PROVISIONS 
 14.1 NO
RIGHTS TO AWARDS. No Participant, employee, or other person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the Committee is obligated to treat Participants, employees, and other persons
uniformly. 
 14.2 NO STOCKHOLDERS RIGHTS. No Award gives the Participant any of the rights of a stockholder of the Company
unless and until shares of Stock are in fact issued to such person in connection with such Award. 
  

 15 

 14.3 WITHHOLDING. The Company or any Subsidiary shall have the authority and the right to
deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including the Participant’s FICA obligation) required by law to be withheld with respect to any
taxable event concerning a Participant arising as a result of the Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold shares of Stock otherwise issuable
under an Award (or allow the return of shares of Stock) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of shares of Stock which may be withheld with respect to the
issuance, vesting, exercise or payment of any Award (or which may be repurchased from the Participant of such Award within six months after such shares of Stock were acquired by the Participant from the Company) in order to satisfy the
Participant’s federal, state, local and foreign income and payroll tax liabilities with respect to the issuance, vesting, exercise or payment of the Award shall be limited to the number of shares which have a Fair Market Value on the date of
withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such supplemental taxable
income. 
 14.4 NO RIGHT TO EMPLOYMENT OR SERVICES. Nothing in the Plan or any Award Agreement shall interfere with or limit in
any way the right of the Company or any Subsidiary to terminate any Participant’s employment at any time, nor confer upon any Participant any right to continue in the employ of the Company or any Subsidiary. 
 14.5 UNFUNDED STATUS OF AWARDS. The Plan is intended to be an “unfunded” plan for incentive compensation. With respect to any
payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the Company or any Subsidiary. 

14.6 INDEMNIFICATION. To the extent allowable pursuant to applicable law, each member of the Committee or of the Board shall be
indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member 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 or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in such action, suit, or proceeding against him
or her; provided, he or she gives 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 or her own behalf. The foregoing right of indemnification shall not be
exclusive of any other rights of indemnification to which such persons may be entitled pursuant to 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. 
 14.7 RELATIONSHIP TO OTHER BENEFITS. No payment pursuant to the Plan shall be taken into account in
determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly provided in writing in such other plan or
an agreement thereunder. 
  

 16 

 14.8 EXPENSES. The expenses of administering the Plan shall be borne by the Company and its
Subsidiaries. 
 14.9 TITLES AND HEADINGS. The titles and headings of the Articles and Sections in the Plan are for convenience
of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 
 14.10
FRACTIONAL SHARES. No fractional shares of Stock shall be issued and the Committee shall determine, in its discretion, whether cash shall be given in lieu of fractional shares or whether such fractional shares shall be eliminated by
rounding up or down as appropriate. 
 14.11 LIMITATIONS APPLICABLE TO SECTION 16 PERSONS. Notwithstanding any other provision
of the Plan, the Plan, and any Award granted or awarded to any Participant who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of
the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Plan and Awards granted or awarded hereunder shall be
deemed amended to the extent necessary to conform to such applicable exemptive rule. 
 14.12 GOVERNMENT AND OTHER REGULATIONS.
The obligation of the Company to make payment of awards in Stock or otherwise shall be subject to all applicable laws, rules, and regulations, and to such approvals by government agencies as may be required. The Company shall be under no obligation
to register pursuant to the Securities Act of 1933, as amended, any of the shares of Stock paid pursuant to the Plan. If the shares paid pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act of
1933, as amended, the Company may restrict the transfer of such shares in such manner as it deems advisable to ensure the availability of any such exemption. 
 14.13 GOVERNING LAW. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the State of Delaware. 
 14.14 SECTION 409A OF THE CODE. In the event any provision of the Plan, or the application thereof, is or becomes inconsistent with
Section 409A of the Code and any regulations promulgated thereunder, such provision shall be void or unenforceable or in the sole discretion of the Committee shall be deemed amended to comply with Section 409A and any regulations
promulgated thereunder. The other provisions of the Plan shall remain in full force and effect. 
  

 17 

 ARTICLE 15 
 GENERAL PROVISIONS 
 15.1 STOCKHOLDER APPROVAL NOT REQUIRED. It is expressly intended
that approval of the Company’s stockholders not be required as a condition of the effectiveness of the Plan, and the Plan’s provisions shall be interpreted in a manner consistent with such intent for all purposes. Specifically, Rule
4350(i) promulgated by the NASD generally requires stockholder approval for stock option plans or other equity compensation arrangements adopted by companies whose securities are listed on the Nasdaq National Market pursuant to which stock awards or
stock may be acquired by officers, directors, employees, or consultants of such companies. NASD Rule 4350(i)(1)(A)(iv) provides an exception to this requirement for issuances of securities to a person not previously an employee or director of the
issuer, or following a bona fide period of non-employment, as an inducement material to the individual’s entering into employment with the issuer; provided, such issuances are approved by either the issuer’s compensation committee
comprised of a majority of independent directors or a majority of the issuer’s independent directors. Awards under the Plan may only be made to Eligible Participants who have not previously been an Employee or director of the Company or a
Subsidiary, or following a bona fide period of non-employment by the Company or a Subsidiary, as an inducement material to the Eligible Participant’s entering into employment with the Company or a Subsidiary. Awards under the Plan will be
approved by (i) the Company’s Compensation Committee comprised of a majority of the Company’s Independent Directors or (ii) a majority of the Company’s Independent Directors. Accordingly, pursuant to NASD Rule 4350(i)(1)(A)(iv), the
issuance of Awards and the shares of Stock issuable upon exercise or vesting of such Awards pursuant to the Plan are not subject to the approval of the Company’s stockholders. 
  

 18

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