Document:

EX-10.1

 Exhibit 10.1 

Waiver, Release, Non-Competition, Non-Solicitation and Non-Disclosure Agreement 
 The following is an agreement (the “Agreement”) made
and entered into by and between Scott Sincerbeaux (“Executive”) and Escalade, Incorporated, an Indiana corporation (“Escalade”) regarding Executive’s termination from all positions held by Executive with
Escalade and its various subsidiaries and affiliates. Escalade and Executive are sometimes referred to collectively as the “parties” and individually as a “party,” and the term “Company” shall mean
Escalade and its various subsidiaries and affiliates collectively. 
 Recitals: 

A.    Executive served as the Chief Executive Officer and President of Escalade, Director of Escalade, and an officer
and/or director of various subsidiaries and affiliates of Escalade though the Employment End Date (as defined below); and 

B.    Executive’s employment with the Company ended as of February 19, 2021 (the “Employment End
Date”); and 
 C.    Executive and the Company are parties to that certain Executive Severance Agreement dated
as of April 27, 2020 (the “Executive Agreement”), which Executive Agreement represents the parties’ mutual agreement with respect to all matters related to Executive’s termination of employment with the Company. All
capitalized terms used in this Agreement and not defined herein shall have the meaning set forth in the Executive Agreement. 
 NOW,
THEREFORE, in consideration of the mutual promises contained in this Agreement, the Company and Executive agree as follows: 

1.    Termination. Executive hereby affirms his separation from employment as Chief Executive Officer and President
of Escalade and his resignation as a Director of Escalade, and from all other executive officer and director positions that he holds with Escalade and any of Escalade’s subsidiaries and their affiliates, effective as of the Employment End Date.
Executive acknowledges and agrees as of the Employment End Date he also resigns as a trustee or other administrator of any and all Company benefit plans, including without limitation the Company’s retirement plan. Executive and the Company
agree that Executive’s resignation as a Director of Escalade is not related to any disagreement between them (other than as may relate to the termination of the Executive’s employment with the Company) that would require disclosure
pursuant to Item 5.02(a) of Form 8-K or any successor provision thereto. 

2.    Compensation and Benefits. Provided that Executive fulfills his obligations as set forth in this Agreement,
the Company shall pay to Executive the following Severance Benefits, it being understood and agreed that such Severance Benefits constitute all compensation and benefits to be paid to Executive and that Executive is entitled to no further
compensation payments of any kind from the Company, whether under the Executive Agreement or any other agreement: 
 (a)
    the Company shall pay to Executive one-year Base Salary (for the period commencing on the day following the Employment End Date and ending on the first

 
anniversary of such Employment End Date), payable in bi-weekly installments in accordance with the regular payroll periods and practices of the Company as
applicable to the Executive immediately prior to termination; 
 (b)    accelerate the vesting of 11,667
of his unvested shares of restricted stock (one third of 35,000) and accelerate the vesting and settlement of 15,223 of his unvested restricted stock units (one third of 45,669), it being understood and agreed that the Company shall instruct the
Company’s transfer agent to issue such shares to Executive promptly following the execution of this Agreement by Executive and the Company and that all other unvested shares of restricted stock and unvested restricted stock units shall be
deemed terminated and forfeited as of the Employment End Date; 
 (c)    the Company shall pay Executive
incentive compensation for fiscal year 2021 in the amount of $126,000 less required withholdings, which payment shall be made at the time that the Company makes its first bi-weekly Base Salary severance
payment to Executive in accordance with Subsection 2(a) above, it being understood and agreed that this $126,000 incentive compensation payment is the only such incentive compensation payment that Executive will receive for fiscal year 2021 and that
Executive is entitled to no further incentive compensation payments of any kind from the Company; and 

(d)    with respect to the Executive and his family members who were covered by the Company’s medical
plan as of the Employment End Date, the Executive and those family members shall be entitled to continue to participate in the Company’s medical plan in the same manner as then participating and the Company will pay the applicable premiums on
his behalf for the 12 months following the Employment End Date; it being understood and agreed that after the expiration of such 12 months period, Executive shall be responsible for all such premiums for any additional periods of time for which such
health care benefits may be under the provisions of the Consolidated Omnibus Budget Reconciliation Act or any substantially equivalent successor law (“COBRA”). 

Executive hereby acknowledges that the Company has previously paid to Executive his Base Salary through the Employment End Date and his incentive compensation
relating to the Company’s 2020 fiscal year. 
 3.    Executive’s Obligations. In consideration of the
payments and benefits provided in Section 2 above, Executive will: 
 (a)     fully cooperate and assist the
Company with any litigation matters or regulatory or agency proceedings for which his testimony or cooperation is requested by Company following the Employment End Date, provided that he is reimbursed for any reasonable and necessary expenses
incurred as a result of his cooperation and assistance, and further provided that the Company and Executive shall discuss in advance of Executive’s providing any such cooperation and assistance the anticipated time commitment that would likely
be required of Executive with respect to any such matter and shall mutually determine whether Executive should be compensated for his time and the amount of any such 

 
compensation, it being understood and agreed that if the parties cannot reach agreement as to any such compensation, then the Company shall not request, and Executive shall not be required, to
provide cooperation and assistance with respect to such litigation or proceeding; 
 (b)     sign all necessary
resignations from the boards of directors and/or all other officer, employee and trustee positions of the Company, but in any event Executive shall be deemed to have resigned any such executive officer, director and trustee positions as of the
Employment End Date; 
 (c)     through the Employment End Date, except as provided in clause (d) below, continue
to comply with the Company’s Insider Trading Policy, Code of Ethics and all other Company policies and procedures applicable to employees of the Company including, without limitation, no destruction of any documents belonging to or relating to
the Company or Executive’s employment with the Company, whether in paper, electronic, digital or any other format, unless such destruction is approved in advance and observed by an officer of the Company specifically designated and authorized
by Escalade’s Board of Directors; 
 (d)     comply with the Company’s Policy for Recovery of Incentive
Compensation through the end of the look back period, which look back period shall be deemed to commence on the Employment End Date and continue for three years thereafter; 

(e)    comply with all laws relating to the Company’s business and operations as applicable to Executive and the
Company; and 
 (f)     comply with all covenants contained in the Executive Agreement and in this Agreement, including
without limitation Sections 4, 5 and 6 hereof. 
 4.    Mutual Nondisparagement. 

(a)     Executive’s Covenant. Beginning on the Employment End Date, Executive shall not make, participate in
the making of, or encourage any other person to make, any statements, written or oral, which criticize, disparage, or defame the reputation of, or which embarrass the Company, its subsidiaries and their affiliates or any of their respective present,
former or future directors, officers, executives, employees and/or shareholders. 
 (b)     Company’s
Covenant. Beginning on the Employment End Date, the Company shall not, and shall instruct the members of Escalade’s Board of Directors and executive officers not to, make, participate in the making of, or encourage any employees or any
other person to make, any statements, written or oral, which criticize, disparage, or defame the reputation of, or which are intended to embarrass, the Executive. 

 5.    Confidentiality. Executive understands and agrees that:

 (a)     Escalade is required to describe the material terms of this Agreement in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission no later than four (4) business days after this Agreement is signed by the Executive and Escalade, and that the Company will attach this Agreement in
its entirety as an Exhibit to such public filing; 
 (b)    Executive has been through the Employment End Date in the
course of employment with the Company entrusted with or obtained access to information proprietary to the Company with respect to the following (all of which information is referred to hereinafter collectively as the “Information”):
the organization and management of the Company; the names, addresses, buying habits, and other special information regarding past, present and potential customers, employees and suppliers of the Company; customer and supplier contracts and
transactions or price lists of the Company and their suppliers; products, services, programs and processes sold, licensed or developed by the Company; technical data, plans and specifications, present and/or future development projects of the
Company; financial and/or marketing data respecting the conduct of the present or future phases of business of the Company; computer programs, systems and/or software; ideas, inventions, trademarks, trade secrets, business information, know-how, processes, improvements, designs, redesigns, discoveries and developments of the Company; and other information considered confidential by any of the Company or its customers or suppliers. At all times
through the Employment End Date and thereafter, Executive agrees to retain the Information in absolute confidence and not to disclose the Information to any person or organization except as required in the performance of Executive’s duties for
the Company as provided in this Agreement, without the express written consent of the Company; provided that Executive’s obligation of confidentiality shall not extend to any Information which becomes generally available to the public other
than as a result of disclosure by Executive, and further provided that, pursuant to the Defend Trade Secrets Act of 2016, Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a
trade secret that is made in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law, or for the disclosure
of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; 

(c)    Executive and the Company agree that on the date the Company files its Form
10-Q for its 2021 second quarter results, the Executive will no longer be privy to material, non-public information regarding the Company. Accordingly, the Company
agrees that Executive shall not be subject to the Company’s Insider Trading Policy thereafter, provided, however, that if and to the extent that Executive may from time to time acquire knowledge of material,
non-public information regarding the Company, Executive acknowledges and agrees that he may not trade based upon such information and must comply with all applicable laws prohibiting insider trading. The
Company further agrees that it will not intentionally provide material, non-public information to Executive following the Employment End Date except in connection with such events, actions or circumstances
that would require stockholder approval and the Company has made a good faith determination that it is necessary and appropriate to disclose such information to Executive given his then current ownership of Escalade common stock, and that the
Company will use its reasonable best efforts to prevent any inadvertent disclosures of material, non-public information to Executive; 

 (c)    Notwithstanding the foregoing, in the event that the Executive is
requested or required by law, regulatory authority or other applicable judicial or governmental order to disclose any Information, the Executive will provide the Company with prompt notice of any such request or requirement (if legally permissible)
so that the Company may seek a protective order or other appropriate remedy and/or waive compliance with the terms of this Agreement with respect to non-disclosure of such Information. In the event that such
protective order or other remedy is not obtained, or that the Company waives compliance with the terms hereof as set forth above, the Executive may disclose only that portion of the Information which is legally required; and 

(e)    On or promptly following the Employment End Date, Executive will return all Company issued electronic devices
(including without limitation, laptops, smart phone, tablets, and similar devices) and Company information to the Company, will no longer access any Escalade data processing or information systems, and will allow the Company to inspect any and all
electronic devices, whether owned by the Company or Executive, to delete any and all Company data and access to Company systems from such devices. 

6.    Covenant Not to Compete, No Interference; No Solicitation. At all times through the twelfth month following
the Employment End Date (or if this period is unenforceable by law, then for such shorter period as shall be enforceable): 

(a)    Executive will not engage in any business offering products or services related to the current business of the
Company, whether as a principal, partner, joint venture, agent, employee, salesman, consultant, director or officer, where such business or business activity is in competition with the Company in any geographic market where the Company does
business; provided, however, that Executive shall not be prohibited from performing services for a subsidiary or division of a competitive business, as long as (i) such subsidiary or division is not in competition with the Company,
(ii) the revenues of the competitive business relating to its products and services that are in competition with the Company constitute five percent (5%) or less of its total revenues, and (iii) the Executive abides by all other provisions
of this Agreement including without limitation Sections 4, 5, 6(b) and 6(c); 
 (b)     Executive will not interfere
with or adversely affect, either directly or indirectly, the Company’s relationships with any person, firm, association, corporation or other entity which is known by Executive to be, or is included on any listing to which Executive had access
during the course of his employment as a customer, client, supplier, consultant or employee of the Company, and Executive will not divert or change, or attempt to divert or change, any such relationship to the detriment of the Company or to the
benefit of any other person, firm, association, corporation or other entity; and 
 (c)     Executive will not induce,
seek to induce or participate directly or indirectly with any third party in seeking to induce, any other employee of the Company to terminate his or her employment relationship with the Company, provided, however, that this restriction shall not
prohibit Executive from hiring any employee who seeks employment from Executive or any third party with whom Executive may be employed or affiliated with in the future on an unsolicited basis as long as such employment is not in competition with any
business or operations of the Company. 

 Executive acknowledges and agrees that the covenants, restrictions, agreements, and
obligations set forth herein are founded upon valuable consideration, and, with respect to the covenants, restrictions, agreements, and obligations set forth in this Section 6 are reasonable in duration and geographic scope. The time period and
geographical area set forth in this Section 6 are each divisible and separable, and, in the event that the covenants not to compete and/or not to divert business or employees contained therein are judicially held invalid or unenforceable as to
such time period and/or geographical area, they will be valid and enforceable in such geographical area(s) and for such time period(s) which the court determines to be reasonable and enforceable. Executive agrees that in the event that any court of
competent jurisdiction determines that the above covenants are invalid or unenforceable to join with the Company in requesting such court to construe the applicable provision by limiting or reducing it so as to be enforceable to the extent
compatible with the then applicable law. Furthermore, it is agreed that any period of restriction or covenant hereinabove stated shall not include any period of violation or period of time required for litigation or arbitration to enforce such
restrictions or covenants. 
 7.    Tax Liability; Tax Withholding. Executive acknowledges and agrees that he is
responsible for the payment of all taxes relating to the consideration to be provided to him as contemplated by this Agreement, including the payment of any taxes relating to his exercise of stock options and his receipt of any stock, cash or other
consideration relating to any other equity incentive awards he may have received from the Company. Notwithstanding any other provision of this Agreement, the Company will withhold from any amounts payable under this Agreement, or any other benefits
received pursuant hereto, such federal, state and/or local taxes as shall be required to be withheld under any applicable law or regulation. 

8.    No Mitigation; No Offset. In no event shall Executive be obligated to seek other employment or to take any
other action that would mitigate the amounts payable to Executive under this Agreement. In the event that Executive would obtain subsequent employment, the Company may not offset any compensation or other amounts earned by Executive from such
subsequent employment or engagement of his services against the Executive’s entitlements under this Agreement. Moreover, subject to Executive’s compliance with the covenants set forth in Sections 4, 5 and 6 of this Agreement, Executive
shall be free to pursue any unsolicited, non-competitive opportunities for employment or services as may arise from the Company’s customers, vendors, employees and affiliates. 

9.    Section 16 Reports. Executive and the Company agree that notwithstanding Executive’s termination as
Chief Executive Officer, President and a Director of Escalade as of the Employment End Date, Executive may continue to be subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and
regulations thereunder for up to six months following the Employment End Date. Accordingly, Executive agrees to provide timely notice to Escalade’s chief financial officer of all transactions undertaken by Executive in Escalade common stock,
including the purchase or sale of any shares of Escalade common stock and the exercise of any stock options, during the six month period following the Employment End Date, and the Company shall prepare and file the appropriate

 
Section 16 reports with the Securities and Exchange Commission on behalf of Executive. Upon the conclusion of such six month period, the Company acknowledges that Executive will no longer be
deemed an affiliate of the Company and, absent Executive being in possession of material, non-public information concerning the Company, may freely engage in trades of Escalade securities. 

10.    Remedies. 

(a)     Arbitration; Submission to Jurisdiction. Any dispute that may arise between the Company and Executive
relating to this Agreement and the subject matter hereof shall be settled by binding arbitration in accordance with Section 11 of the Executive Agreement. 

(b)     Injunctive Relief. Executive agrees that in the event of any actual or threatened breach by him of any of
the provisions contained in this Agreement, including those covenants specifically set forth in Sections 3, 4, 5 and 6 hereof, the Company shall be entitled to seek immediate temporary injunctive and other equitable relief, without the necessity of
showing actual monetary damages, subject to hearing as soon thereafter as possible. In the event of such injunctive relief, the periods of time referred to in Sections 5 and 6 shall be deemed extended for a period equal to the respective period
during which Employee is in breach thereof, in order to provide for injunctive relief and specific performance for a period equal to the full term thereof and the Company shall be entitled to cease its obligations to Executive pursuant to
Section 2. In the event that the Company breaches its obligations to make payments and to provide the benefits specified in Section 2 hereof, Executive may seek specific performance in addition to monetary damages and Executive will not be
subject to the provisions of Section 4, 5 or 6 hereof. Nothing contained herein shall be construed as prohibiting Executive or the Company from pursuing any other remedies available to it for such breach or threatened breach, including the
recovery of any damages which it is able to prove. 
 11.    Mutual Release. In consideration of the payments and
benefits set forth in this Agreement, such payments and benefits being good and valuable consideration: 

(a)    Release by Executive. Subject to Section 10(b), Executive, on his own behalf and on behalf of his
heirs, administrators, executors, successors, assigns and personal representatives, covenants not to sue and hereby fully and forever releases, acquits and discharges the Company, its shareholders, directors, officers, employees, agents,
representatives, insurance carriers, and their successors and assigns (collectively the “Releasees”), from any and all claims, demands, actions and causes of action of every kind, nature or description (collectively “claims”)
that Executive may have had, may now have, or may hereafter have against Releasees, including without limitation any and all claims in any way related to or based upon Executive’s employment with the Company through the Employment End Date
and/or the cessation of Executive’s service as an employee, executive officer and director of the Company, including without limitation any claims for breach of contract, implied contract, promissory estoppel, tortious conduct or claims arising
under any federal or state statute or law or local ordinance, including but not limited to: the Age Discrimination in Employment Act as amended (“ADEA”); Older Workers’ Benefit Protection Act (“OWBPA”); Americans with
Disabilities Act (“ADA”) as amended; the Family and Medical Leave Act (“FMLA”); Title VII of the Civil 

 
Rights Act of 1964; the Civil Rights Acts of 1991; the Employee Retirement Income Security Act (“ERISA”); 42 U.S.C. § 1981; 29 U.S.C. § 206(d)(1); Section 503 and 504 of
the Rehabilitation Disabilities Act; the WARN Act; Indiana’s fair employment practices statutes; any other federal, state or local law dealing with employment discrimination; and any federal or state “Whistleblower” law, existing as
of the date of this Agreement. Provided, however, that if the Company was to breach this Agreement, this release would not bar an action by Executive against the Company to enforce its term(s) or any applicable law. In addition, this
Section 11(a) shall not affect adversely any benefits to which Executive may be entitled arising out of any social security, workers’ compensation or unemployment laws, or under the terms of any employee pension or welfare or benefit plans
or programs of the Company, which may be payable now or in the future to Executive. 
 (b)    Acknowledgements by
Executive. Executive specifically acknowledges and agrees that: (i) Executive is waiving claims under the foregoing laws, including specifically the ADEA and the OWBPA; (ii) this waiver of any rights or claims is knowing and voluntary;
(iii) this Agreement is written in a manner that Executive understands; (iv) the Company has hereby advised Executive to consult with an attorney before executing this Agreement and that Executive has so consulted; (v) the waiver of
rights under Section 11(a) does not waive rights or claims arising after the date of this Agreement; (vi) Executive has been given a period of 21 days within which to consider this Agreement; (vii) for a period of seven days following
Executive’s execution of this Agreement, Executive may revoke this Agreement and this Agreement will not become enforceable or effective until the revocation period expires; and (viii) the waiver of rights in Section 11(a) is in
exchange for consideration in addition to anything of value to which Executive was already entitled to receive. 

(c)    Release by the Company. Subject to Section 10(b), the Company, on behalf of itself and its successors
and assigns, covenants not to sue and hereby fully and forever releases, acquits and discharges Executive and his successors and assigns, from any and all claims, demands, actions and causes of action of every kind, nature or description
(collectively “claims”) that the Company may have had, may now have, or may hereafter have against Executive, including without limitation any and all claims in any way related to or based upon Executive’s employment with the Company,
its subsidiaries and affiliates through the Employment End Date and/or the cessation of Executive’s service as an executive officer or director of the Company, including without limitation any claims for breach of contract, implied contract,
promissory estoppel, tortious conduct or claims arising under any federal or state statute or law or local ordinance, existing as of the date of this Agreement. Provided, however, that if Executive were to breach this Agreement, this release would
not bar an action by the Company against Executive to enforce its term(s) or any applicable laws. In addition, this Section 11(c) shall not bar any action by the Company against Executive to enforce the terms of the Company’s Policy for
Recovery of Incentive Compensation and/or Section 5(b) of the Executive Agreement. 
 (d)    Unknown Claims.
This Agreement covers both claims that Executive and/or the Company know about and those that Executive and/or the Company may not know about. The parties hereto expressly waive all rights afforded by any statute that limits the effect of a release
with respect to unknown claims, except as to any claims that Executive may have as contemplated by the last two sentences of Section 11(a) or that Company may have as 

 
contemplated by the last two sentences of Section 11(c). Each of Executive and the Company understand the significance of its respective release of unknown claims and the waiver of statutory
protection against a release of unknown claims. However, this release shall not apply to any claim based on the fraud or intentional misconduct of the other party or to any act that is determined to be a criminal act under any federal, state or
local law committed or perpetrated by Executive or the Company at any time prior to and through the Employment End Date. Neither Executive nor the Company, based on the knowledge of Escalade’s Board of Directors and of the Company’s
executive officers other than Executive, is currently aware of any fraud or intentional misconduct of the other party to this Agreement. 

(e)    Future Claims Related to Employee and/or Shareholder Status. Notwithstanding any provision of this
Section 11 that may be construed to the contrary, Executive and the Company agree that neither Executive nor the Company waive or release the other party hereto from any claim that may arise based on events occurring after the Employment End
Date. Executive and the Company further agree that Executive may not, based upon Executive’s status as a shareholder of the Company, assert any claim subsequent to the Employment End Date against the Company or any Releasees relating to any
potential claim or matter that is the subject of or is otherwise covered by the release granted by Executive in this Agreement or is in any way related to the event of Executive’s retirement from or cessation of employment with the Company.

 12.    Future Service as Employee, Executive Officer or Director. Executive agrees that his termination as an
employee, executive officer and director of the Company is irrevocable, and that the Company shall have no obligation whatsoever to rehire, reappoint or elect Executive to any such officer, director or other position with the Company. Executive
further agrees that if he would seek any such position and is not so hired, nominated, appointed or elected, Executive will not bring a claim against the Company and/or any Releasee for refusal to so hire, nominate, appoint or elect. 

13.    Binding Effect; Authority. This Agreement shall bind the Executive’s heirs, executors, administrators,
personal representatives, spouse, dependents, successors and assigns. Escalade represents and warrants to Executive that the individual signing this Agreement on behalf of the Company is duly authorized to enter into this Agreement and to bind the
Company hereunder. 
 14.    Non-Admission. This Agreement shall not be
construed as an admission by either party of any wrongdoing or any violation of any federal, state or local law, regulation or ordinance, and the parties specifically disclaim any wrongdoing or violation. 

15.    Assignability. Neither this Agreement, nor any right or interest hereunder, shall be assignable by
Executive, his beneficiaries or legal representatives, without the prior written consent of an executive officer of Escalade. 

16.    Entire Agreement. This Agreement sets forth the entire agreement between the parties with respect to the
subject matter hereof and supersedes any other written or oral 

 
promises concerning the subject matter of this Agreement except as expressly stated otherwise herein or except as expressly stated otherwise in the Executive Agreement. The terms of this
Agreement may not be modified other than in a writing signed by the parties. 
 17.    Governing Law. This
Agreement shall in all respects be interpreted, enforced and governed by the laws of the State of Indiana without giving effect to provisions thereof regarding conflict of laws. 

18.    Counterparts. This Agreement may be executed in one or more counterparts, each of which shall constitute an
original and all of which shall together constitute one and the same instrument. 
 [Signatures on next page] 

 In Witness Whereof, the parties have entered into this Agreement as of this 4th day of March, 2021. 
  

			
	EXECUTIVE:
	
	 /s/ SCOTT SINCERBEAUX

	Scott Sincerbeaux
	
	COMPANY:
	
	ESCALADE, INCORPORATED
		
	By:	 	 /s/ EDWARD E. WILLIAMS

	Name:	 	Ned Williams
	Title:	 	Escalade Compensation Committee ChairmanEX-10.1

 Exhibit 10.1 

CBRE GROUP, INC. 

EXECUTIVE BONUS PLAN 

Dated March 3, 2021 
  

	1.	 PLAN OBJECTIVE 

The Executive Bonus Plan (“EBP” or the “Plan”) has been designed to reward and encourage the efforts of the executive
officers of CBRE Group, Inc. (“CBRE” or the “Company”) to successfully attain the Company’s goals by directly tying the Participant’s compensation to Company and individual results. The EBP is also
designed to (a) provide competitive compensation opportunities for executive officers and (b) assist in retaining and attracting key employees for CBRE. 
  

	2.	 EFFECTIVENESS AND PLAN YEAR 

The Plan is dated the first date set forth above and is effective in respect of the 2021 Plan Year (as defined below) such that it shall apply in respect of
Awards (as defined below) in respect of such Plan Year. The Plan will remain in effect until suspended, amended, terminated or otherwise altered in accordance with Section 9 hereof. The Plan supersedes and replaces, in total, all prior versions
of the Plan or any other bonus guarantees. A “Plan Year” starts on January 1 and ends December 31 of the same year. 
  

	3.	 PLAN ADMINISTRATION 

The People Team will administer the Plan, including participation, eligibility criteria and payment of Awards, subject to final review and approval by the
Chief Executive Officer and the Compensation Committee of the Board of Directors (the “Committee”). 
  

	4.	 ELIGIBILITY 

  

	4.1	 Eligibility for participation in the EBP and receipt of bonus awards pursuant to the terms and conditions of
the Plan (“Awards”) will be limited to the Chief Executive Officer and other executive officers specifically designated and approved by the Chief Executive Officer and the Committee each year (the CEO and such other officers so
designated and approved, “Participants”). Unless otherwise specifically approved by the Chief Executive Officer and the Committee, executive officers who participate in any other Company bonus plan, as well as executive officers who
are paid on a commission basis or participate in the bonus plan for commissioned salespersons, are not eligible to participate in the EBP. 

  

	4.2	 Participation for a Participant begins on the first day of employment or the designated effective date of a
Participant’s eligibility to participate in the Plan. Eligibility for the Plan does not guarantee payment of an Award because payment is dependent upon earning the Award and the other provisions of the Plan, including both individual and
Company performance. 

	4.3	 Participants who are newly hired, transfer to a new position or become eligible to participate during a Plan
Year are eligible to earn an Award as follows: 

  

	 	(a)	 Newly-hired or newly-eligible Participants will be eligible for a
pro-rated Award based on the number of full weeks worked in the eligible position from the first date of employment or the designated effective date during the Plan Year. 

 

	 	(b)	 Participants who transfer to a new position that is not then eligible for the Plan will be eligible for a
prorated Award based on the number of full weeks worked in the eligible position during the Plan Year. 

  

	 	(c)	 Participants who transfer or are promoted to another position and remain eligible for the Plan under the
new position will be eligible to earn a prorated Award for each position based on the number of full weeks worked in each position during the Plan Year. Eligibility to earn Awards will be based on the number of full weeks the Participant worked in
each position and the applicable Target Awards and/or ratings for each position. 

  

	4.4	 If the employment status of a Participant changes prior to the Payment Date (as defined below), eligibility for
an Award will depend on the reason for the status change: 

  

	 	(a)	 Resignation or voluntary termination for any reason: Eligibility for Awards is forfeited on resignation
or voluntary termination by the Participant for any reason before the Payment Date. 

  

	 	(b)	 Involuntary termination for Cause: Eligibility for Awards is forfeited on involuntary termination by the
Company for Cause before the Payment Date. As used herein, the term “Cause” shall mean: (i) an uncured material breach by a Participant of one or more of the material terms and conditions of such Participant’s employment
agreement, (ii) a material violation by a Participant of the Company’s published policies without permission or just cause, (iii) a Participant’s substantial and continuing non-performance
under such Participant’s employment agreement, (iv) any act of fraud, embezzlement or other dishonesty in connection with a Participant’s duties and obligations, (v) any intentional act by a Participant that would jeopardize the
Company’s licenses to do business, or (vi) the commission by a Participant of any illegal and/or unethical act that adversely and materially affects the character, goodwill and public reputation of the Company. 

 

	 	(c)	 Involuntary termination not for Cause: Eligibility for Awards is forfeited on involuntary
termination by the Company not for Cause before the Payment Date. Participants classified as a Highly Compensated Employee (“HCE”) and eligible for severance benefits as defined by the Severance Pay Policy then in effect are
eligible (but not guaranteed) to receive a pro-rated target bonus at the sole discretion of the Company under the provisions of the Company’s Severance Pay Policy then in effect. 

  
 2 

	 	(d)	 Retirement: If a Participant Retires (as defined below) prior to a Payment Date and participated in the
Plan for at least 26 full weeks of the Plan Year, eligibility for an Award may (but is not guaranteed to) be prorated based on the number of full weeks of participation in the Plan Year. If paid, a prorated Award will be paid at the time that Awards
are paid to Participants generally. If participation in the Plan is for less than 26 full weeks during the Plan Year, the Retiring Participant is not eligible for an Award for that Plan Year. As used in this Section 4.4(d),
“Retire” (and corresponding terms) means voluntary termination of employment by a Participant with the Company or an affiliated company, where such Participant has completed at least ten years of Continuous Service and (i) for
U.S. Participants, the attainment of age 62, or (ii) for non-U.S. Participants, the attainment of age 62 or such earlier age at which such Participant is required to retire from Continuous Service under
applicable law or an applicable retirement plan or policy. “Continuous Service” means uninterrupted service as an employee. A Participant’s Continuous Service does not terminate if he or she is a
common-law employee and goes on a bona fide leave of absence that was approved by the Company in writing and the terms of the leave provide for continued service crediting, or when continued service crediting
is required by applicable law. 

  

	 	(e)	 Death or disability: If a Participant dies or becomes disabled prior to a Payment Date, eligibility for
an Award may (but is not guaranteed to) be prorated based on the number of full weeks of participation in the Plan Year. If paid, any prorated Award will be paid at the time that Awards are paid to Participants generally. A Participant will be
considered “disabled” if the Participant is disabled as defined under the provisions of the Company’s Long-Term Disability Plan then in effect. For a Participant who dies prior to the Payment Date, the Award (if paid) will be paid to
the Participant’s beneficiary as designated in the Participant’s group term life insurance at the time of death. 

  

	5.	 TIMING OF CALCULATIONS, PAYMENTS 

 

	5.1	 Awards are earned by performance during the Plan Year and by remaining actively employed by the Company through
the date Awards are paid. 

  

	5.2	 Subject to final approval by the Chief Executive Officer and the Committee, Awards will be paid on or before
March 15 following the end of the Plan Year with respect to which the Award relates (such date of payment, the “Payment Date”). 

  

	5.3	 Subject to Sections 4.4(c), 4.4(d) and 4.4(e), if a Participant’s employment terminates for any reason
(whether voluntarily or involuntarily) either during the Plan Year or following the end of the Plan Year but prior to the Payment Date, unless otherwise determined by the Company pursuant to the terms hereof, no Award (or portion thereof) shall be
payable or earned with respect to such Plan Year. 

  

	5.4	 It is intended that all Awards earned will be paid in cash. However, the Company reserves the right to
distribute common stock in the Company or other non-cash forms of compensation in lieu of cash in the event economic circumstances dictate such action. 

  
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	5.5	 Federal and state income taxes and other required taxes will be withheld from bonuses under applicable law.

  

	5.6	 To the extent that any Awards under the Plan are subject to Section 409A of the Internal Revenue Code
(“IRC”), the terms and administration of such Awards shall comply with the provisions of such Section, applicable IRC guidance and good faith reasonable interpretations thereof, and, to the extent necessary to achieve compliance,
such Awards shall be modified, replaced, or terminated at the discretion of the Committee. 

  

	6.	 MAXIMUM ANNUAL BONUSES 

The maximum Award to be received by any Participant shall not exceed 200% of the Target Award (as defined below), inclusive of CEO Awards (as defined below).

  

	7.	 CEO AWARDS 

The Company reserves the right to award to a Participant a supplemental discretionary bonus award in cases of exceptional and exceedingly deserving
circumstances, the amount of which shall be determined in the Chief Executive Officer’s sole discretion (subject to the ratification by the Committee). This supplemental award is referred to herein as a “CEO Award.” 

 

	8.	 AWARD CALCULATION 

 

	8.1	 Participants are eligible for an Award each Plan Year, based on (a) the extent to which the Company or an
identified business segment, business unit or line of business meets or exceeds financial performance targets for the performance period (“Financial Performance Targets”), and/or (b) an assessment of the executive’s
performance during the performance period, which may be based in part on individual achievement of important Company or individual objectives in each Participant’s area of responsibility (“Strategic Performance Objectives”).

  

	8.2	 Target Awards: 

 

	 	(a)	 Each Participant will be assigned a “Target Award” by the Company in its sole discretion
(generally based on a Participant’s position and that position’s potential contribution to the Company) by March 31 of each Plan Year. For new hires or newly-eligible Participants (whether by transfer or promotion), the Target Award
will be set within ninety (90) days of eligibility for the Plan. 

  

	 	(b)	 At or near the beginning of each plan year the Committee will determine, in its sole discretion (i) the
portion of the Target Award (up to 100%) that will be earned based on Financial Performance (the “Financial Performance Portion”), and (ii) the portion of the Target Award (up to 100%) that will be earned based on Strategic
Performance (the “Strategic Performance Portion”). 

  

	 	(c)	 In the event that a Target Award amount or weighting of any component thereof is changed during a Plan Year,
the payment of that Plan Year’s Award will be 

  
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pro-rated based on the number of full weeks that each respective Target Award (or such component’s weighting) was in force, unless other written
agreements supersede this provision. 

  

	8.3	 Financial Performance Targets: Financial Performance Targets are approved by the Committee at or near
the beginning of each Plan Year. Until a different metric is designated by the Committee for a Plan Year, EBITDA will be the metric utilized to set Financial Performance Targets for the Company, regions, business units and lines of business, as
adjusted to eliminate the effects of charges for restructurings, discontinued operations, extraordinary items and other unusual or non-recurring items as well as the cumulative effect of tax or accounting
changes. 

  

	8.4	 Strategic Performance Objectives: 

 

	 	(a)	 If applicable, a Participant’s Strategic Performance Objectives will be set by the Company in writing by
March 31 of each Plan Year in respect of that Plan Year, with the Company having the discretion (but not being required) to assign relative weightings to each such Strategic Performance Objective. 

 

	 	(b)	 For new hires or newly-eligible Participants (whether by transfer or promotion), any applicable Strategic
Performance Objectives must be set within ninety (90) days of eligibility for the Plan. 

  

	 	(c)	 If Strategic Performance Objectives are intended to apply to a Participant,
non-submission of Strategic Performance Objectives to the Committee will make such Participant ineligible for an Award. 

 

	8.5	 Calculation of Awards: Following the conclusion of the Plan Year, Awards are calculated as follows:

  

	 	(a)	 Financial Performance Portion: Actual financial performance is compared to the Financial Performance
Targets, and a Payout Factor is then determined as follows: 

  

			
	 Achievement Against

Financial Performance

Target
	  	 Payout Factor (% of

Target)

	 <= 70%
	  	0%
	 100%
	  	100%
	 >=130%
	  	200%

  

	*	 The Payout Factor for financial performance achievement between 70% and 130% of the financial performance
target will be linearly interpolated. For example, achievement of 124.3% of the Financial Performance Target will result in an Adjustment Factor of 181.00%. 

The Payout Factor is then multiplied by the Financial Performance Portion of the Target Award. This product is the “Financial
Performance Award.” 

  
 5 

	 	(b)	 Strategic Performance Portion: Following the end of the Plan Year, the Chief Executive Officer (or where
the Participant is the Chief Executive Officer, the Committee) will determine a “strategic performance payout factor” for each Participant based on that Participant’s overall performance for that Plan Year, taking into account his or
her accomplishment of Strategic Performance Objectives for such Plan Year as well as any other special factors that may have impacted the Participant’s performance during the Plan Year. Unless otherwise determined by the Committee or the Chief
Executive Officer, as applicable, the minimum strategic performance payout factor is 0% and the maximum strategic performance payout factor is 150%. The product of this strategic performance payout factor multiplied by the Strategic Performance
Portion of the Target Award is the “Strategic Performance Award.” 

  

	 	(c)	 Sum of Resultant Products; Subject to Overall Cap: The resultant parts in the ultimate sentences of
Sections 8.5(a) and 8.5(b) are then added together to arrive at an Award for the Participant (but subject to the other terms contained in the Plan), not to exceed the overall cap in Section 6 hereof. 

 

	 	(d)	 Role of CEO and the Committee. The final Award recommendation will be made by the Chief Executive
Officer and approved by the Committee. 

  

	9.	 SUSPENSION, AMENDMENT OR TERMINATION OF THE PLAN 

The Company reserves the right at any time prior to payment of the Awards to review, interpret, alter, suspend, amend, or terminate or discontinue (with or
without notice) the Plan (including in respect of a Plan Year already completed if prior to the Payment Date in respect of that Plan Year), including, without limitation, the calculation and method of and eligibility for Award payments,
provided, however, that any alterations or amendments to the Plan require the approval of the Committee, provided further, however, that any alterations or deviations in respect of the process for determining the
Strategic Performance Portion pursuant to Section 8.5(b) hereof do not require the approval of the Committee if such alterations or deviations are otherwise approved by the Chief Executive Officer. The Plan does not constitute a contract of
employment (express or implied) and cannot be relied upon as such. The Plan does not alter the at-will employment relationship between the Company and the Participants. 

 

	10.	 ETHICS 

The Committee shall have the right to withhold or decrease a Participant’s Award on account of a Participant’s violation(s) of the Standards of
Business Conduct or other Company policies, including, without limitation, the failure to model and enforce the Company’s high standards of ethical conduct or to demonstrate a commitment to a discrimination-, retaliation- and harassment-free
workplace. Conversely, the Committee may increase incentive compensation (up to the total maximum Award permitted under the Plan) for a Participant who demonstrates extraordinary achievements in these critical areas for the Company. 

  
 6 

	11.	 CLAWBACK POLICY 

All Awards made under the Plan are subject to the Company’s Clawback Policy (which may be amended from time to time by the Company in its sole
discretion).     

  
 7

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