Document:

Cancellation Agreement dated December 29, 2003--Duane E. Collins

 Exhibit 10(c) 
  
 CANCELLATION AGREEMENT 
  
 THIS AGREEMENT is made and entered into as of December 29, 2003 by and among Parker-Hannifin Corporation (the “Company”), Duane E. Collins (the
“Executive”) and The Duane E. Collins Irrevocable Trust dated 5/10/99 (the “Trust”). 
  
 RECITALS 
  
 A. The Company and the Executive are parties to an Exchange Agreement dated as of May 11, 1999 (the “Exchange Agreement”) whereby the Executive agreed to the surrender of 38,633 shares of Company common stock issued to the
Executive under the Company’s 1991-92-93 Long Term Incentive Plan (the “Shares”) in exchange for the Company’s agreement to be bound by the terms of an Executive Estate Protection Plan Document (as defined in the Exchange
Agreement). 
  
 B. The Company, the Executive and the Trust are
parties to an Executive Estate Protection Agreement dated as of May 11, 1999 (the “EEP Agreement”) whereby the Company has agreed to provide life insurance for the benefit of the Executive and his wife by funding the premiums on a Policy
(as defined in the EEP Agreement) to be owned by the Trust. 
  
 C.
In September 2003, the Internal Revenue Service issued final regulations (the “Tax Regulations”) which have a significant negative affect on the Executive from a financial standpoint relative to the tax treatment of the Executive’s
benefits under the EEP Agreement; and 
  
 D. As a result of the
Tax Regulations, the Executive has requested that the Company and the Trust agree to the cancellation of their respective obligations under the Exchange Agreement and EEP Agreement. 
  
 E. The Company and the Trust are willing to accommodate the Executive’s request to cancel their respective obligations
under the Exchange Agreement and the EEP Agreement pursuant to the terms and conditions stated herein, which are specifically designed to assure repayment to the Company of all premiums paid by the Company for the Policy and to have the 

 same cash flow impact to the Company on a present value basis as would the continuation of the Company’s rights and
obligations under the EEP Agreement. 
  
 AGREEMENT

  
 1. The Executive, the Company and the Trust agree that the
Exchange Agreement and the EEP Agreement shall be cancelled effective December 29, 2003 (the “Effective Date”) and no party shall have any further obligation thereunder. For the avoidance of doubt, as of the Effective Date, the Company
shall have no further obligation to pay premiums for the Policy. 
  
 2. As of the Effective Date, the Trust and the Company shall instruct the Insurer (as defined in the EEP Agreement) in writing to remit $3,476,020 from the cash value of the Policy (the “Cash Value”) to the Company as repayment in
full for the funds provided by the Company for the acquisition and maintenance of the Policy. Upon receipt of such payment, the Company shall execute and deliver to the Insurer a full and complete release of its Collateral Interest (as defined in
the EEP Agreement) in the Policy. The remaining Cash Value shall belong to the Trust. 
  
 3. Commencing May 1, 2004 and continuing on each May 1 thereafter until May 1, 2022, the Company shall pay to Executive, his heirs, successors or assigns, the annual sum of $197,238. 
  
 4. This Agreement shall be governed by and construed under the laws of the
State of Ohio. 
  

 2 

 IN WITNESS WHEREOF, the Company, the Executive and the Trust have executed this Agreement as of the date
first above written. 
  
 PARKER-HANNIFIN
CORPORATION 
  
 By: /s/ Dana A. Dennis

  
 Title: Vice President 
  
  
 /s/ Duane E. Collins 
 Duane E. Collins 
  
  
 THE DUANE E. COLLINS IRREVOCABLE 
 TRUST DATED 5/10/99 
  
 By: /s/ Sharon Ann Collins 
 Sharon Ann Collins 
 Trustee 
  

 3Exhibit 10.a

 EXHIBIT (10)(a) 
  
 CONSENT OF INDEPENDENT AUDITORS 
  

 Consent of Independent Auditors 
  
 We consent to the reference to our firm under the caption “Independent Auditors” in the Statement of Additional Information and to
the use of our report dated February 13, 2004, with respect to the statutory-basis financial statements and schedules of Transamerica Life Insurance Company, included in Post-effective Amendment No. 1 to the Registration Statement (Form N-4 No.
333-110049) and related Prospectus of Separate Account VA Q. 
  
 Ernst & Young LLP 
  
 Des Moines, Iowa

 April 27, 2004<PAGE>

                       EXHIBIT (10)(b)

                         OPINION AND CONSENT OF ACTUARY

<PAGE>

                [Transamerica Life Insurance Company Letterhead]

April 1,2004

Transamerica Life Insurance Company
4333 Edgewood Road NE
Cedar Rapids,Iowa 52499-0001

Re: Flexible Premium Variable Annuity - B
    Separate Account VA Q
    Registration on Form N-4

Dear Sir/Madam:

With regard to the above registration statement, I have examined such documents
and made such inquiries as I have deemed necessary and appropriate, and on the
basis of such examination, have the following opinions:

Fees and charges deducted under the Flexible Premium Variable Annuity - B
policies are those deemed necessary to appropriately reflect:

(1)  the expenses incurred in the acquisition and distribution of the policies,

(2)  the expenses associated with the development and servicing of the policies,

(3)  the assumption of certain risks arising from the operation and management
     of the policies and/or riders to the policy and that provides for a
     reasonable margin of profit.

Fees and charges assessed against the policy values in the variable account
include:

(i)  Service Charge and Administrative Charge

(ii) Mortality and Expense Risk Fee (M&E)

(iii) Taxes (including premium and other taxes if applicable)

(iv) Any applicable rider fees or charges

<PAGE>

Transamerica Life Insurance Company
April 1,2004
Page 2

The magnitude of each of the individual charges listed above in (i) through (iv)
is established in the pricing of the Flexible Premium Variable Annuity - B, to
achieve a reasonable Return on Investment (ROI), which is within the range of
industry practice with respect to comparable variable annuity products.

Except by coincidence, it is not expected that actual charges assessed in a
given year would exactly offset actual expenses incurred. Acquisition expenses
(as well as major product and/or systems development expenses) are incurred "up
front" and recovered, with a reasonable profit margin, through future years'
charges. In addition, the company cannot increase certain charges under the
policies in the pricing process.

Therefore, in my opinion, the fees and charges deducted under the policies, in
the aggregate, are reasonable in relation to the services rendered, the expenses
expected to be incurred, and the risks assumed by the company.

I hereby consent to the use of this opinion, which is included as an Exhibit to
the registration statement.

/s/ R. Gene Hauser
------------------------------------
R. Gene Hauser
Associate Actuary
Transamerica Life Insurance CompanyCrane Co. 2004 Stock Incentive Plan

 EXHIBIT 10.1 
  
 CRANE CO. 
 2004 STOCK INCENTIVE PLAN

  

	1.	PURPOSE AND ADOPTION OF THE PLAN 

  
 The purpose of the Crane Co. 2004 Stock Incentive Plan (as the same may be amended from time to time, the “Plan”) is (i) to attract and retain
key employees of Crane Co. (the “Company”), and its Subsidiaries (as defined below) who are and will be contributing to the success of the business; (ii) to motivate and reward key employees who have made significant contributions to the
success of the Company and encourage them to continue to give their best efforts to its future success; (iii) to provide competitive incentive compensation opportunities; and (iv) to further opportunities for stock ownership by such key employees in
order to increase their proprietary interest in the Company and their personal interest in its continued success. 
  
 The Plan was approved by the Board of Directors of the Company (the “Board”) on January 26, 2004 and shall become effective upon approval by the
stockholders of the Company (the “Effective Date”). The Plan shall remain in effect until terminated by action of the Board; provided, however, that no Award shall be granted under this Plan after January 25, 2014. 
  

	2.	DEFINITIONS 

  
 For the purposes of this Plan, capitalized terms shall have the following meanings: 
  
 (a) “Award” means any grant to a Participant of one or a combination of Non-Qualified Stock Options or Incentive Stock Options described in
Section 6 and Restricted Shares described in Section 8. 
  
 (b)
“Award Agreement” means a written agreement between the Company and a Participant or a written notice from the Company to a Participant specifically setting forth the terms and conditions of an Award granted under the Plan. 
  
 (c) “Beneficiary” means an individual, trust or estate who or
which, by a written designation of the Participant filed with the Company or by operation of law, succeeds to the rights and obligations of the Participant under the Plan and an Award Agreement upon the Participant’s death. 
  
 (d) “Board” shall have the meaning given to such term in Section 1.

  
 (e) “Change in Control” means the first to occur of
the following events after the Effective Date: (i) the first purchase of shares pursuant to a tender offer or exchange offer (other than a tender offer or exchange offer by the Company) for all or part of the Company’s Common Stock or any
securities convertible into such Common Stock; (ii) the receipt by the Company of a Schedule 13D or other advice indicating that a person is the “beneficial owner” (as that term is defined in Rule 13d-3 under the Exchange Act) of 20% or
more of the Company’s Common Stock calculated as provided in paragraph (d) of said Rule 13d-3; (iii) the date of approval by the stockholders of the Company of an agreement providing for any Merger of the Company in which the Company will not
be the continuing or surviving corporation or pursuant to which shares of Common Stock of the Company would be converted into cash, securities or other property, other than a Merger of the Company in which the holders of Common Stock of the Company
immediately prior to the Merger would have the same proportion of ownership of common stock of the surviving corporation immediately after the Merger; (iv) the date of the approval by the stockholders of the Company of any sale, lease, exchange or
other transfer (in one transaction or a series of related transactions) of all or substantially all the assets of the Company; (v) the adoption of any plan or proposal for the liquidation (but not a partial liquidation) or dissolution of the
Company; or (vi) the date upon which the individuals who constitute the Board as of the Effective Date (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a
director subsequent to such date whose election, 

  

 
or nomination for election by the Company’s stockholders, was approved by a vote of at least three-quarters of the directors comprising the Incumbent
Board (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the Directors of the Company, as such terms are used in Rule
14a-11 of Regulation 14A promulgated under the Exchange Act) shall, for purposes of this Plan, be considered as though such person were a member of the Incumbent Board. 
  
 (f) “Code” means the Internal Revenue Code of 1986, as amended. References to a section of the Code include that
section and any comparable section or sections of any future legislation that amends, supplements or supersedes said section. 
  
 (g) “Committee” means the Management Organization and Compensation Committee of the Board or such other committee composed of at least three
members of the Board as may be designated by the Board from time to time. 
  
 (h) “Company” shall have the meaning given to such term in Section 1. 
  
 (i) “Common Stock” means Common Stock, par value $1.00 per share, of the Company. 
  
 (j) “Date of Grant” means the date as of which the Committee grants an Award. If the Committee contemplates an
immediate grant to a Participant, the Date of Grant shall be the date of the Committee’s action. If the Committee contemplates a date on which the grant is to be made other than the date of the Committee’s action, the Date of Grant shall
be the date so contemplated and set forth in or determinable from the records of action of the Committee; provided, however, that the Date of Grant shall not precede the date of the Committee’s action. 
  
 (k) “Effective Date” shall have the meaning given to such term in
Section 1. 
  
 (l) “Exchange Act” means the Securities
Exchange Act of 1934, as amended. 
  
 (m) “Fair Market
Value” means, as of any applicable date, for all purposes in this Plan, the average of the high and low sales prices of the Common Stock on the New York Stock Exchange-Composite Transactions Tape on the ten (10) consecutive trading days ending
on that day, or if no sale of stock has been recorded on such day, then on the next preceding day on which a sale was so made. In the event the Common Stock is not admitted to trade on a securities exchange, the Fair Market Value as of any given
date shall be as determined in good faith by the Committee. 
  
 (n) “Incentive Stock Option” means a stock option within the meaning of Section 422 of the Code. 
  
 (o) “Merger” means any merger, reorganization, consolidation, share exchange, transfer of assets or other transaction having similar effect
involving the Company. 
  
 (p) “Non-Qualified Stock
Option” means a stock option which is not an Incentive Stock Option. 
  
 (q) “Options” means all Non-Qualified Stock Options and Incentive Stock Options granted at any time under the Plan. 
  
 (r) “Participant” means a person designated to receive an Award under the Plan in accordance with Section 5. 
  
 (s) “Permanent Disability” means a physical or mental disability or
infirmity that prevents the performance of a Participant’s services for the Company and its Subsidiaries lasting (or likely to last, based on competent medical evidence presented to the Committee) for a period of six months or longer. The
Committee’s reasoned and good faith judgment of Permanent Disability shall be final and shall be based on such competent medical evidence as shall be presented to it by such Participant or by any physician or group of physicians or other
competent medical expert employed by the Participant or the Company to advise the Committee. 
  

 (t) “Plan” shall have the meaning given to such term in Section 1. 
  
 (u) “Purchase Price,” with respect to Options, shall have the
meaning set forth in Section 6(a). 
  
 (v) “Restricted
Shares” means Common Stock subject to restrictions imposed in connection with Awards granted under Section 8. 
  
 (w) “Retirement” means a Participant’s retirement at or after age 65. 
  
 (x) “Subsidiary” means a subsidiary of the Company within the meaning of Section 424(f) of the Code. 

 

	3.	ADMINISTRATION 

  
 (a) This Plan shall be administered by the Committee, which shall at all times be constituted to comply with the “outside director” requirements
established from time to time under Section 162(m) of the Code, the “non-employee director” requirements established from time to time by rules or regulations of the Securities and Exchange Commission under Section 16 of the Exchange Act,
and the “independent director” requirements established from time to time under the corporate governance rules of the New York Stock Exchange. The Committee shall have the sole discretionary authority to interpret the Plan, to establish
and modify administrative rules for the Plan, to impose such conditions and restrictions on Awards as it determines appropriate, and to take such steps in connection with the Plan and Awards granted hereunder as it may deem necessary or advisable.
Decisions of the Committee in connection with the administration of the Plan shall be final, conclusive and binding upon all parties, including the Company, its stockholders and the Participants. 
  
 (b) The Committee may employ attorneys, consultants, accountants or other
persons and the Committee and the Company and its officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All usual and reasonable expenses of the Committee shall be paid by the Company. No
Committee member shall receive compensation with respect to his or her services for the Committee except as may be authorized by the Board. All actions taken and all interpretations and determinations made by the Committee in good faith shall be
final and binding upon all employees who have received awards, the Company and all other interested persons. No member of the Committee shall be personally liable for any action, determination or interpretations taken or made in good faith with
respect to this Plan or Awards made hereunder, and all members of the Committee shall be fully indemnified and protected by the Company in respect of any such action, determination or interpretation. 
  

	4.	SHARES 

  
 (a) The total number of shares of Common Stock authorized to be issued under the Plan shall not exceed 4,500,000 shares; provided that no more than 1,500,000 shares of Common Stock shall be issued as Restricted
Shares. The number of shares available for issuance under the Plan shall be subject to adjustment in accordance with Section 9. The shares to be offered under the Plan shall be authorized and unissued shares of Common Stock, or issued shares of
Common Stock which will have been reacquired by the Company, including shares purchased in the open market. 
  
 (b) Subject to the provisions of Section 6(d), any shares subject to an Option granted under this Plan or any predecessor stock option plan of the Company
that expires or is terminated for any reason without having been exercised in full, shares of Common Stock forfeited as provided in Section 8(h) and shares of Common Stock subject to any Award under this Plan or any predecessor stock option or
restricted stock plan of the Company that are otherwise surrendered by a Participant or terminated shall continue to be available for future grants under this Plan. If any shares of Common Stock are withheld from those otherwise issuable in
connection with the exercise of an Option, only the net number of shares of Common Stock issued as a result of such exercise shall be deemed delivered for purposes of determining the maximum number of shares available for delivery under the Plan.

  

	5.	PARTICIPATION 

  
 Participants in the Plan shall be such key employees of the Company and its Subsidiaries as the Committee, in its sole discretion, may designate from time
to time. For purposes of the Plan, “key employees” shall mean officers as well as other employees (including officers and other employees who are also directors of the Company or any Subsidiary) designated by the Committee in its
discretion upon the recommendation of management, but shall not include any employee who, assuming the full exercise of such Option, would own more than 10% of the combined voting power of all classes of stock of the Company or any Subsidiary.
Subject to adjustment in accordance with Section 9, the maximum Number of shares for which Awards may be granted under this Plan to any single individual in any calendar year shall not exceed 500,000 shares of Common Stock. Options under the Plan
may be Incentive Stock Options within the meaning of Section 422 of the Code or Non-Qualified Stock Options. Awards granted hereunder shall be evidenced by Award Agreements in such form as the Committee shall approve, which Agreements shall comply
with and be subject to the terms and conditions of this Plan. 
  

	6.	GRANT AND EXERCISE OF STOCK OPTIONS 

  
 (a) The purchase price of each share of Common Stock upon exercise of any Options granted under the Plan shall not be less than 100% of the Fair Market
Value of the Common Stock on the Date of Grant (the “Purchase Price”). Each Option shall have a stated term not to exceed 10 years from the Date of Grant. 
  
 (b) Each Option granted under this Plan shall be exercisable in whole or in part from time to time beginning from the Date
of Grant, subject to the provision that an Option may not be exercised by the Participant, except as provided in Section 7, (i) more than 90 days after the termination of the articipant’s employment by the Company or a Subsidiary or later than
the date of expiration of the term of the Option, or (ii) prior to the expiration of one year from the Date of Grant; provided further, that, unless otherwise determined by the Committee, the Option may not be exercised in excess of 50% of the total
shares subject to such Option during the second year after the Date of Grant, 75% during the third year, and 100% thereafter. 
  
 (c) The Purchase Price of the shares purchased upon the exercise of an Option shall be paid in full at the time of exercise in cash or, in whole or in
part, by tendering (either actually or by attestation) shares of Common Stock. The value of each share of Common Stock delivered in payment of all or part of the Purchase Price upon the exercise of an Option shall be the Fair Market Value of the
Common Stock on the date the Option is exercised. Exercise of Options shall also be permitted, if approved by the Committee, in accordance with a cashless exercise program under which, if so instructed by a Participant, shares of Common Stock may be
issued directly to the Participant’s broker or dealer upon receipt of an irrevocable written notice of exercise from the Participant. 
  
 (d) The Committee, upon such terms and conditions as it shall deem appropriate, may (but shall not be obligated to) authorize on behalf of the Company the
acceptance of the surrender of the right to exercise an Option or a portion thereof (but only to the extent and in the amounts that such Option shall then be exercisable) and the payment by the Company therefore of an amount equal to the excess of
the Fair Market Value on the date of surrender of the shares of Common Stock covered by such Option or portion thereof over the aggregate option price of such shares. Such payment shall be made in shares of Common Stock (valued at such Fair Market
Value) or in cash, or partly in cash and partly in shares of Common Stock, as the Committee shall determine. The shares of Common Stock covered by any Option or portion thereof, as to which the right to exercise shall have been so surrendered, shall
not again be available for the purposes of this Plan. 
  
 (e) Each
Option granted under this Plan shall not be transferable by the Participant otherwise than by will or the laws of descent and distribution, and shall be exercisable, during the Participant’s lifetime, only by the Participant. Notwithstanding
the foregoing, Non-Qualified Stock Options may be transferable, without payment of consideration, to immediate family members of the Participant or to trusts or partnerships for the benefit of such family members. 
  

 (f) No Participant may be granted Incentive Stock Options under the Plan (or any other plans of the
Company and its Subsidiaries) that would result in shares with an aggregate Fair Market Value (measured on the Date of Grant) of more than $100,000 first becoming exercisable in any one calendar year. 
  
 (g) The Company shall have the right to require a Participant to pay to the
Company the cash amount of any taxes which the Company is required to withhold upon the exercise of an Option granted hereunder, provided that anything contained herein to the contrary notwithstanding, the Committee may, in accordance with such
rules as it may adopt, accept shares of Common Stock received in connection with the exercise of the Option being taxed or otherwise previously acquired in satisfaction of any withholding requirements or tax liability arising from the exercise of
such Option to the extent permitted by applicable law and regulations. 
  
 (h) The Committee, in its sole discretion, shall have the right (but shall not in any case be obligated), exercisable at any time after the Date of Grant, to permit the exercise of any Option prior to the time such Option would otherwise
become exercisable under the terms of the Award Agreement. 
  

	7.	EXERCISE OF OPTIONS UPON TERMINATION OF EMPLOYMENT 

  
 (a) If a Participant shall retire or shall cease to be employed by the Company or by a Subsidiary by reason of Permanent Disability or after a Change in
Control, all Options theretofore granted to such Participant, whether or not previously exercisable, may be exercised in whole or in part, and/or the Committee may authorize the acceptance of the surrender of the right to exercise such Options or
any portion thereof as provided in Section 6(d), at any time within 90 days after such Retirement, termination by reason of Permanent Disability, or termination after a Change in Control, but not after the expiration of the term of the Option.

  
 (b) If a Participant shall die while employed by the Company
or by a Subsidiary or within 90 days of the cessation or termination of such employment under circumstances described in Section 7(a), all Options theretofore granted to such Participant, whether or not previously exercisable, may be exercised in
whole or in part, and/or the Committee may authorize the acceptance of the surrender of the right to exercise such Options or any portion thereof as provided in Section 6(d), by the estate of such Participant (or by a person who shall have acquired
the right to exercise such Option by bequest or inheritance), at any time within one year after the death of such Participant but not after the expiration of the term of the Option. 
  
 (c) If a Participant’s employment is terminated for any reason other than death, disability or retirement or after a
Change in Control, such Participant may exercise any Option in whole or in part, at any time within 90 days after such termination of employment, but only to the extent such Option is exercisable at the date of termination in accordance with Section
6(b). In no event may any Option be exercised after the expiration of the term of the Option. 
  

	8.	GRANT OF RESTRICTED SHARES 

  
 (a) The Committee may grant to any Participant an Award of such number of shares of Common Stock on such terms, conditions and restrictions, whether based
on performance standards, periods of service, retention by the Participant of ownership of specified shares of Common Stock or other criteria, as the Committee shall establish. With respect to performance-based Awards of Restricted Shares intended
to qualify for deductibility under the “performance-based” compensation exception contained in Section 162(m) of the Code, performance targets will include specified levels of one or more of the following (in absolute terms or relative to
one or more other companies or indices): revenues, free cash flow, return on assets, operating income, return on investment, economic value added, return on stockholders’ equity, stock price appreciation, total share return, earnings before
interest, taxes, depreciation and amortization, earnings per share and/or growth in earnings per share. The terms of any Restricted Share Award granted under this Plan shall be set forth in an Award Agreement which shall contain provisions
determined by the Committee and not inconsistent with this Plan. 
  

 (b) As soon as practicable after the Date of Grant of a Restricted Share Award by the Committee, the
Company shall cause to be transferred on the books of the Company or its agent, shares of Common Stock, registered on behalf of the Participant, evidencing the Restricted Shares covered by the Award, subject to forfeiture to the Company as of the
Date of Grant if an Award Agreement with respect to the Restricted Shares covered by the Award is not duly executed by the Participant and timely returned to the Company. All shares of Common Stock covered by Awards under this Section 8 shall be
subject to the restrictions, terms and conditions contained in the Plan and the applicable Award Agreements entered into by the appropriate Participants. Until the lapse or release of all restrictions applicable to an Award of Restricted Shares the
share certificates representing such Restricted Shares may be held in custody by the Company or its designee, in physical or book entry form, or, if the certificates bear a restrictive legend, by the Participant. Upon the lapse or release of all
restrictions with respect to an Award as described in Section 8(e), one or more share certificates, registered in the name of the Participant, for an appropriate number of shares as provided in Section 8(e), free of any restrictions set forth in the
Plan and the related Award Agreement shall be delivered to the Participant. 
  
 (c) Beginning on the Date of Grant of a Restricted Share Award and subject to execution of the related Award Agreement as provided in Section 8(b), and except as otherwise provided in such Award Agreement, the
Participant shall become a stockholder of the Company with respect to all shares subject to the Award Agreement and shall have all of the rights of a stockholder, including, but not limited to, the right to vote such shares and the right to receive
dividends; provided, however, that any shares of Common Stock or other securities distributed as a dividend or otherwise with respect to any Restricted Shares as to which the restrictions have not yet lapsed, shall be subject to the same
restrictions as such Restricted Shares and held or restricted as provided in Section 8(b). 
  
 (d) None of the Restricted Shares may be assigned or transferred (other than by will or the laws of descent and distribution or to an inter vivos trust with respect to which the Participant is treated as the owner
under Sections 671 through 677 of the Code), pledged or sold prior to the lapse of the restrictions applicable thereto. 
  
 (e) Upon expiration or earlier termination of the forfeiture period without a forfeiture and the satisfaction of or release from any other conditions
prescribed by the Committee, or at such earlier time as provided under the provisions of Section 8(i), the restrictions applicable to the Restricted Shares shall lapse. As promptly as administratively feasible thereafter, subject to the requirements
of Section 8(k), the Company shall deliver to the Participant or, in case of the Participant’s death, to the Participant’s Beneficiary, one or more share certificates for the appropriate number of shares of Common Stock, free of all such
restrictions, except for any restrictions that may be imposed by law. 
  
 (f) A Participant’s Restricted Share Award shall not be contingent on any payment by or consideration from the Participant other than the rendering of services. 
  
 (g) The Committee will have the discretion, as to any Restricted Share Award, to award a separate cash amount, payable to
the Participant at the time when the forfeiture restrictions on the Restricted Shares lapse or at such earlier time as the Participant may elect to be taxed with respect to such Restricted Shares equal to (i) the federal income tax and the Section
4999 golden parachute excise tax, if any, payable with respect to the lapse of such restrictions or with respect to such election, divided by (ii) one (1) minus the total effective federal income and excise tax rate applicable as a result of the
lapse of such restrictions or a result of such election. 
  
 (h)
Subject to Sections 8(i) and 8(j), Restricted Shares shall be forfeited and returned to the Company and all rights of the Participant with respect to such Restricted Shares shall terminate unless the Participant continues in the service of the
Company or a Subsidiary until the expiration of the forfeiture period for such Restricted Shares and satisfies any and all other conditions set forth in the Award Agreement. The Committee shall determine the forfeiture period (which may, but need
not, lapse in installments) and any other terms and conditions applicable with respect to any Restricted Share Award. 
  

 (i) Notwithstanding anything contained in this Section 8 to the contrary, the Committee may, in its sole
discretion, waive the forfeiture period and any other conditions set forth in any Award Agreement under appropriate circumstances (including the death, disability or Retirement of the Participant or a material change in circumstances arising after
the date of an Award) and subject to such terms and conditions (including forfeiture of a proportionate number of the Restricted Shares) as the Committee shall deem appropriate. 
  
 (j) Unless otherwise provided by the Committee in the applicable Award Agreement, in the event of a Change in Control, all
restrictions applicable to the Restricted Share Award shall terminate fully and the Participant shall immediately have the right to the delivery of share certificates for such shares in accordance with Section 8(e). 
  
 (k) The Company shall have the right to require a Participant to pay to the
Company the cash amount of any taxes which the Company is required to withhold with respect to any amount payable and/or shares issuable under such Participant’s Award. The Company may defer payment of cash or issuance of shares upon exercise
or vesting of an Award unless indemnified to its satisfaction against any liability for any such tax. The amount of such withholding or tax payment shall be determined by the Committee and shall be payable by the Participant at such time as the
Committee determines. 
  

	9.	ADJUSTMENTS TO REFLECT CAPITAL CHANGES 

  
 In the event that there is an increase in the number of issued shares of the Common Stock by reason of any stock dividend, stock split, recapitalization
or other similar event, the total number of shares available for Awards under the Plan, the maximum number of shares for which Awards may be granted to any single individual in any calendar year and the number of shares remaining subject to purchase
under each outstanding Option shall be increased and the Purchase Price per share of such outstanding Options shall be decreased, in proportion to such increase in issued shares. Conversely, in case the issued shares of Common Stock shall be
combined into a smaller number of shares, the total number of shares available for Awards under the Plan, the maximum number of shares for which Awards may be granted to any single individual in any calendar year and the number of shares remaining
subject to purchase under each outstanding Option shall be decreased and the Purchase Price per share of such outstanding Options shall be increased, in proportion to such decrease in issued shares. In the event of any Merger, the Committee may make
such adjustment in the shares available for Awards under the Plan, the maximum number of shares for which Awards may be granted to any single individual in any calendar year and the shares subject to outstanding Awards and the Purchase Price
thereof, if applicable, as the Committee, in its sole discretion, deems appropriate. In the event of an exchange of Common Stock, or other securities of the Company convertible into Common Stock, for the stock or securities of another corporation,
the Committee may, in its sole discretion, equitably substitute such new stock or securities for a portion or all of the shares of Common Stock subject to outstanding Awards. 
  

	10.	AMENDMENT AND TERMINATION 

  
 This Plan may be amended or terminated at any time by the Board except with respect to any Awards then outstanding, and any Award granted under this Plan
may be terminated at any time with the consent of the Participant. The Board may make such changes in and additions to this Plan as it may deem proper and in the best interest of the Company; provided, however, that no such action shall, without the
consent of the Participant, materially impair any Award theretofore granted under this Plan; and provided, further, that no such action shall be taken without the approval of the stockholders of the Company if such stockholder approval is required
under applicable law or the rules of the New York Stock Exchange. Notwithstanding the foregoing, the Board may amend or revise this Plan to comply with applicable laws or governmental regulations. 
  

	11.	GENERAL PROVISIONS 

  
 (a) Each Option granted under this Plan shall be evidenced by a written Award Agreement containing such terms and conditions as the Committee may require,
and no person shall have any rights under any Award granted under this Plan unless and until such Award Agreement has been executed and delivered by the Participant and the Company. 
  
 (b) In the event of any conflict between the terms of this Plan and any provision of any Award Agreement, the terms of this
Plan shall be controlling. 
  
 (c) No Participant or other person
shall have any claim or right to be granted an Award under the Plan. Neither the Plan nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ of the Company or any of its Subsidiaries.
Unless otherwise agreed by contract, the Company reserves the right to terminate its employment relationship with any person at any time and for any reason. 
  
 (d) Income realized as a result of a grant or an exercise of any Award under this Plan shall not be included in the Participant’s earnings for the
purpose of any benefit plan in which the Participant may be enrolled or for which the Participant may become eligible unless otherwise specifically provided for in such plan. 
  
 (e) The obligation of the Company to sell and deliver shares of Common Stock with respect to any Award granted hereunder
shall be subject to, as deemed necessary or appropriate by counsel for the Company, (i) all applicable laws, rules and regulations and such approvals by any governmental agencies as may be required, including, without limitation, the effectiveness
of a registration statement under the Securities Act of 1933, and (ii) the condition that such shares shall have been duly listed on such stock exchanges as the Common Stock is then listed. 
  
 (f) Anything in this Plan to the contrary notwithstanding, it is expressly
agreed and understood that if any one or more provisions of this Plan shall be illegal or invalid such illegality or invalidity shall not invalidate this Plan or any other provisions thereof, but this Plan shall be effective in all respects as
though the illegal or invalid provisions had not been included. 
  
 (g) All determinations made and actions taken pursuant to the Plan shall be governed by the laws of the State of Delaware, other than the conflict of laws provisions thereof, and construed in accordance therewith.

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