Document:

Form of Incentive Stock Option Terms

 Exhibit 10.63 
 Incentive Stock Option Terms 
 under the 
 ACE Limited 2004 Long-Term Incentive Plan 
 The Participant has been
granted an Option by ACE Limited (the “Company”) under the ACE Limited 2004 Long-Term Incentive Plan (the “Plan”). The Option shall be subject to the following Incentive Stock Option Terms (sometimes referred to as the
“Option Terms”): 
 1. Terms of Award. The following words and phrases used in these Option Terms shall have the meanings set
forth in this paragraph 1: 
 (a) The “Participant” is the individual recipient of the Incentive Stock Option Award on the specified Grant Date.

 (b) The “Grant Date” is 
 (c) The number of
“Covered Shares” shall be that number of shares of Stock awarded to the Participant on the Grant Date as reflected in the corporate records and shown in the Record-Keeping System in the Participant’s individual account records.

 (d) The “Exercise Price” is $ per share. 
 Other words and phrases used in these Option Terms are defined pursuant to paragraph 8 or elsewhere in these Option Terms. 
 2.
Incentive Stock Option. The Option is intended to constitute an “incentive stock option” as that term is used in Code section 422. To the extent that the aggregate fair market value (determined at the time of grant) of Shares with
respect to which incentive stock options are exercisable for the first time by the Participant during any calendar year under all plans of the Company and its Subsidiaries exceeds $100,000, the options or portions thereof which exceed such limit
(according to the order in which they were granted) shall be treated as nonstatutory stock options. It should be understood that there is no assurance that the Option will, in fact, be treated as an incentive stock option. 
 3. Date of Exercise. Subject to the limitations of these Option Terms, each Installment of Covered Shares of the Option shall be exercisable on
and after the Vesting Date for such Installment as described in the following schedule (but only if the Date of Termination has not occurred before the Vesting Date): 
  

					
	 INSTALLMENT
	 	 	  	 VESTING DATE
 APPLICABLE TO
 INSTALLMENT

	100% of Covered Shares	 		  	Five year anniversary of the Grant Date

 Notwithstanding the foregoing provisions of this paragraph 3, the Option shall become fully vested and exercisable
as follows, with the exception of paragraph (c): 
  

	(a)	The Option shall become fully exercisable upon the Date of Termination, if the Date of Termination occurs by reason of the Participant’s death or Disability.

	(b)	The Option shall become fully exercisable upon a Change in Control that occurs on or before the Date of Termination. 

  

	(c)	For Installments as to which the Restricted Period has not ended prior to the Date of Termination, if the Date of Termination occurs by reason of the Participant’s Retirement,
vesting shall continue pursuant to the foregoing schedule following the Date of Termination. Following the Date of Termination the Restricted Period shall end in accordance with the above schedule. 

 Except as specified in (c), the Option may be exercised on or after the Date of Termination only as to that portion of the Covered Shares for which it was exercisable
(or became exercisable) immediately prior to the Date of Termination. 
 4. Expiration. The Option shall not be exercisable after the
Company’s close of business on the last business day that occurs prior to the Expiration Date. The “Expiration Date” shall be the earliest to occur of: 
  

	(a)	the ten-year anniversary of the Grant Date; 

  

	(b)	if the Participant’s Date of Termination occurs by reason of death or Disability, the one-year anniversary of such Date of Termination; 

  

	(c)	if the Participant’s Date of Termination occurs by reason of Retirement, the date on which the Expiration Date would occur if the Participant’s Date of Termination
occurred on the ten-year anniversary of the Grant Date, or if earlier, the date of the Participant’s death; or 

  

	(d)	if the Participant’s Date of Termination occurs for any reason other than those listed in subparagraph (b) or (c) of this paragraph 4, the three-month anniversary of
such Date of Termination. 

 5. Method of Option Exercise. Subject to these Option Terms and the Plan, the Option may be
exercised in whole or in part by filing a written notice (or by such other method as may be provided by the Committee, including but not limited to processes provided in electronic record-keeping systems utilized for management of the Plan) with the
Secretary of the Company at its corporate headquarters prior to the Company’s close of business on the last business day that occurs prior to the Expiration Date. Such notice shall specify the number of shares of Stock which the Participant
elects to purchase, and shall be accompanied by payment of the Exercise Price for such shares of Stock indicated by the Participant’s election. Payment shall be by cash or by check payable to the Company. Except as otherwise provided by the
Committee before the Option is exercised: (i) all or a portion of the Exercise Price may be paid by the Participant by delivery of shares of Stock owned by the Participant and acceptable to the Committee having an aggregate Fair Market Value
(valued as of the date of exercise) that is equal to the amount of cash that would otherwise be required; and (ii) the Participant may pay the Exercise Price by authorizing a third party to sell shares of Stock (or a sufficient portion of the
shares) acquired upon exercise of the Option and remit to the Company a sufficient portion of the sale proceeds to pay the entire 

  

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Exercise Price and any tax withholding resulting from such exercise. The Option shall not be exercisable if and to the extent the Company determines that
such exercise would violate applicable state or Federal securities laws or the rules and regulations of any securities exchange on which the Stock is traded. If the Company makes such a determination, it shall use all reasonable efforts to obtain
compliance with such laws, rules and regulations. In making any determination hereunder, the Company may rely on the opinion of counsel for the Company. 
 6. Withholding. All deliveries and distributions under these Option Terms are subject to withholding of all applicable taxes. At the election of the Participant, and subject to such rules and limitations as may
be established by the Committee from time to time, such withholding obligations may be satisfied through the surrender of shares of Stock which the Participant already owns, or to which the Participant is otherwise entitled under the Plan; provided,
however, that such shares may be used to satisfy not more than the Company’s minimum statutory withholding obligation (based on minimum statutory withholding rates for Federal and state tax purposes, including payroll taxes, that are applicable
to such supplemental taxable income). 
 7. Transferability. Except as otherwise provided by the Committee, the Option is not
transferable other than as designated by the Participant by will or by the laws of descent and distribution, and during the Participant’s life, may be exercised only by the Participant. 
 8. Definitions. For purposes of these Option Terms, words and phrases shall be defined as follows: 
  

	(a)	Change in Control. The term “Change in Control” shall be defined as set forth in the Plan. 

  

	(b)	Date of Termination. A Participant’s “Date of Termination” means, with respect to an employee, the date on which the Participant’s employment with the
Company and Subsidiaries terminates for any reason, and with respect to a Director, the date immediately following the last day on which the Participant serves as a Director; provided that a Date of Termination shall not be deemed to occur by reason
of a Participant’s transfer of employment between the Company and a Subsidiary or between two Subsidiaries; further provided that a Date of Termination shall not be deemed to occur by reason of a Participant’s cessation of service as a
Director if immediately following such cessation of service the Participant becomes or continues to be employed by the Company or a Subsidiary, nor by reason of a Participant’s termination of employment with the Company or a Subsidiary if
immediately following such termination of employment the Participant becomes or continues to be a Director; and further provided that a Participant’s employment shall not be considered terminated while the Participant is on a leave of absence
from the Company or a Subsidiary approved by the Participant’s employer. 

  

	(c)	Director. The term “Director” means a member of the Board, who may or may not be an employee of the Company or a Subsidiary. 

  

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	(d)	Disability. The Participant shall be considered to have a “Disability” during the period in which the Participant is unable, by reason of a medically determinable
physical or mental impairment, to engage in any substantial gainful activity, which condition, in the opinion of a physician selected by the Committee, is expected to have a duration of not less than 120 days. 

  

	(e)	Retirement. The term “Retirement” means an employee who’s Date of Termination occurs after satisfying all of the following: (i) the employee has provided
at least ten years of service with the Company or a Related Company; (ii) the employee has attained at least age 62; and (iii) the employee terminates employment in good standing with the Company or a Related Company, and (iv) the
employee executes an agreement and release as required by the Company which will include, without limitation, a general release, and non-competition and non-solicitation provisions. However, with respect to exercising vested options pursuant to
4(c), above, “Retirement” shall mean the occurrence of a Participant’s Date of Termination with the consent of the Participant’s employer after the Participant is eligible for early retirement or normal retirement under a
retirement plan maintained by the Company or the Subsidiaries. 

  

	(f)	Plan Definitions. Except where the context clearly implies or indicates the contrary, a word, term, or phrase used in the Plan is similarly used in these Option Terms.

 9. Heirs and Successors. The Option Terms shall be binding upon, and inure to the benefit of, the Company and its
successors and assigns, and upon any person acquiring, whether by merger, consolidation, purchase of assets or otherwise, all or substantially all of the Company’s assets and business. If any rights exercisable by the Participant or benefits
deliverable to the Participant under these Option Terms have not been exercised or delivered, respectively, at the time of the Participant’s death, such rights shall be exercisable by the Designated Beneficiary, and such benefits shall be
delivered to the Designated Beneficiary, in accordance with the provisions of these Option Terms and the Plan. The “Designated Beneficiary” shall be the beneficiary or beneficiaries designated by the Participant in a writing filed with the
Committee in such form and at such time as the Committee shall require. If a deceased Participant fails to designate a beneficiary, or if the Designated Beneficiary does not survive the Participant, any rights that would have been exercisable by the
Participant and any benefits distributable to the Participant shall be exercised by or distributed to the legal representative of the estate of the Participant. If a deceased Participant designates a beneficiary and the Designated Beneficiary
survives the Participant but dies before the Designated Beneficiary’s exercise of all rights under these Option Terms or before the complete distribution of benefits to the Designated Beneficiary under these Option Terms, then any rights that
would have been exercisable by the Designated Beneficiary shall be exercised by the legal representative of the estate of the Designated Beneficiary, and any benefits distributable to the Designated Beneficiary shall be distributed to the legal
representative of the estate of the Designated Beneficiary. 
 10. Administration. The authority to manage and control the operation
and administration of these Option Terms shall be vested in the Committee, and the Committee shall have all powers with respect to these Option Terms as it has with respect to the Plan. Any interpretation of the Agreement by the Committee and any
decision made by it with respect to the Agreement is final and binding on all persons. 
  

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 11. Plan and Corporate Records Govern. Notwithstanding anything in these Option Terms to the
contrary, these Option Terms shall be subject to the terms of the Plan, a copy of which may be obtained by the Participant from the office of the Secretary of the Company; and these Option Terms are subject to all interpretations, amendments, rules
and regulations promulgated by the Committee from time to time pursuant to the Plan. Notwithstanding anything in the Option Terms to the contrary, in the event of any discrepancies between the corporate records regarding this award and the
Record-Keeping System, the corporate records shall control. 
 12. Not An Employment Contract. The Option will not confer on the
Participant any right with respect to continuance of employment or other service with the Company or any Subsidiary, nor will it interfere in any way with any right the Company or any Subsidiary would otherwise have to terminate or modify the terms
of such Participant’s employment or other service at any time. 
 13. Notices. Any written notices provided for in these Option
Terms or the Plan shall be in writing and shall be deemed sufficiently given if either hand delivered or if sent by fax or overnight courier, or by postage paid first class mail. Notices sent by mail shall be deemed received three business days
after mailing but in no event later than the date of actual receipt. Notices shall be directed, if to the Participant, at the Participant’s address indicated by the Company’s records, or if to the Company, at the Company’s principal
executive office. 
 14. Fractional Shares. In lieu of issuing a fraction of a share upon any exercise of the Option, resulting from
an adjustment of the Option pursuant to paragraph 5.2(f) of the Plan or otherwise, the Company will be entitled to pay to the Participant an amount equal to the fair market value of such fractional share. 
 15. No Rights As Shareholder. The Participant shall not have any rights of a shareholder with respect to the shares subject to the Option, until a
stock certificate has been duly issued following exercise of the Option as provided herein. 
 16. Amendment. The Option Terms may be
amended in accordance with the provisions of the Plan, and may otherwise be amended by written agreement of the Participant and the Company without the consent of any other person. 
 IN WITNESS WHEREOF, the Company has caused these presents to be executed in its name and on its behalf, all as of the Grant Date. 
 ACE LIMITED 
  

			
	 By:
	 	  

	 Its:
	 	  

  

 5ACE Limited Employee Stock Purchase Plan

 Exhibit 10.69 
 Conformed Copy 
 ACE LIMITED  
 EMPLOYEE STOCK PURCHASE PLAN 
 (as amended through the 
 Third Amendment thereof, 
 effective
March 1, 2007) 

 TABLE OF CONTENTS 
  

							
	 	  	Page
	SECTION 1.         GENERAL	  	1
				
		  	1.1.  	  	Purpose	  	1
				
		  	1.2.  	  	Operation and Administration	  	1
		
	SECTION 2.        METHOD OF PURCHASE	  	1
				
		  	2.1.  	  	Eligibility	  	1
				
		  	2.2.  	  	Participation Election	  	1
				
		  	2.3.  	  	Purchase of Stock	  	2
				
		  	2.4.  	  	Termination of Participation	  	2
		
	SECTION 3.        OPERATION AND ADMINISTRATION	  	3
				
		  	3.1.  	  	Effective Date	  	3
				
		  	3.2.  	  	Shares Subject to Plan	  	3
				
		  	3.3.  	  	Adjustments to Shares	  	3
				
		  	3.4.  	  	Limit on Distribution	  	4
				
		  	3.5.  	  	Withholding	  	4
				
		  	3.6.  	  	Transferability	  	4
				
		  	3.7.  	  	Limitation of Implied Rights	  	4
				
		  	3.8.  	  	Evidence	  	5
				
		  	3.9.  	  	Action by Employers	  	5
				
		  	3.10.	  	Gender and Number	  	5
		
	SECTION 4.        COMMITTEE	  	5
				
		  	4.1.  	  	Administration	  	5
				
		  	4.2.  	  	Selection of Committee	  	5
				
		  	4.3.  	  	Powers of Committee	  	5
				
		  	4.4.  	  	Delegation by Committee	  	5
				
		  	4.5.  	  	Information to be Furnished to Committee	  	6
				
		  	4.6.  	  	Liability and Indemnification of Committee	  	6
		
	SECTION 5.        AMENDMENT AND TERMINATION	  	6
		
	SECTION 6.        DEFINED TERMS	  	6

  

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 ACE LIMITED  
 EMPLOYEE STOCK PURCHASE PLAN 
 SECTION 1. 
 GENERAL 
 1.1. Purpose. The ACE Limited Employee Stock Purchase Plan (the
“Plan”) has been established by ACE Limited (the “Company”) to provide eligible employees of the Company and the Related Companies with an opportunity to acquire a proprietary interest in the Company through the purchase of
common stock of the Company (“Stock”). The Plan is intended to qualify as an employee stock purchase plan under section 423 of the Code, and the provisions of the Plan are to be construed in a manner consistent with the requirements of
that section. 
 1.2. Operation and Administration. The operation and administration of the Plan shall be subject to the provisions of Section 3.
Capitalized terms in the Plan shall be defined as set forth in Section 6 or elsewhere in the Plan. 
 SECTION 2. 
 METHOD OF PURCHASE 
 2.1. Eligibility. Plan
participation shall be available to (and shall be limited to) all persons who are employees of the Employers, except that the following persons shall not be eligible to participate in the Plan: 
  

	 	(a)	An employee who has been employed less than 500 hours and less than six months. 

  

	 	(b)	An employee whose customary employment is 20 hours or less per week. 

  

	 	(c)	An employee whose customary employment is for not more than five months in any calendar year. 

  

	 	(d)	An employee who owns, or who would own upon the exercise of any rights extended under the Plan and the exercise of any other option held by the employee (whether qualified or
non-qualified), shares possessing 5% or more of the total combined voting power or value of all classes of stock of the Company or of any parent or subsidiary corporation. 

 Notwithstanding the foregoing provisions of this subsection 2.1, an individual may participate in the Plan for any Subscription Period only if he is
employed by an Employer on the first day of that period. 
 2.2. Participation Election. The Committee shall establish “Subscription
Periods” of not longer than one year for the accumulation of funds necessary for payment of the Purchase Price (as defined in subsection 2.3) of Stock under the Plan. For any Subscription Period, an eligible employee shall become a Plan
‘Participant’ by filing, with the Committee, a written payroll deduction authorization with respect to Compensation otherwise payable to the Participant during the period. Such payroll deductions shall be any full percentage of the
Compensation of the Participant, or any specified whole dollar amount, up to but not more than 10% of 

  

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his Compensation in either case. After the beginning of the Subscription Period, and except as otherwise provided in subsection 2.4, a Participant may not
alter the rate of his payroll deductions for that period. Subject to the limitations of subsection 2.3, each eligible employee who has elected to become a Participant for a Subscription Period in accordance with the foregoing provisions of this
subsection 2.2 shall be granted on the first day of such Subscription Period an option to purchase (at the applicable Purchase Price) on the Exercise Date (as defined in subsection 2.3) for such Subscription Period up to a number of whole shares of
Stock determined by dividing such Participant’s accumulated payroll deductions as of such Exercise Date by the applicable Purchase Price. Exercise of the option shall occur as provided in subsection 2.3, unless the Participant has terminated
participation in the Plan prior to the Exercise Date as provided in subsection 2.4 or the Participant elects not to exercise the option as provided in subsection 2.3(b). The option shall expire on the last day of the Subscription Period. 

2.3. Purchase of Stock. On the last day of each Subscription Period (the “Exercise Date”), a Participant shall become eligible to exercise his option
to purchase the number of whole shares of Stock as his accumulated payroll deductions for the Subscription Period will purchase, subject to the following: 
  

	 	(a)	The “Purchase Price” per share shall be equal to 85% of the fair market value of Stock on the Exercise Date; provided, however, that in no event shall the purchase price
be less than the par value of the Stock. 

  

	 	(b)	A Participant shall be deemed to have elected to purchase the shares of Stock which he became entitled to purchase on the Exercise Date unless he shall notify the Committee within
seven days following the Exercise Date, or such shorter period as the Committee may establish, that he elects not to make such purchase. 

  

	 	(c)	Any accumulated payroll deductions that are not used to purchase full shares of Stock under the Plan shall be paid to the Participant without interest. 

  

	 	(d)	No employee shall have the right to purchase more than $25,000 in value of Stock under the Plan (and any other employee stock purchase plan described in Code section 423 and
maintained by the Company or any Related Company) in any calendar year, such value being based on the fair market value of Stock as of the date on which the option to purchase the Stock is granted, as determined in accordance with subsection 2.2 of
the Plan. 

 2.4. Termination of Participation. A Participant may discontinue his participation in the Plan for any Subscription Period,
whereupon all of the Participant’s payroll deductions for the Subscription Period will be promptly paid to him without interest, and no further payroll deductions will be made from his pay for that period. If a Participant’s employment
with the Employers terminates during a Subscription Period for any reason, all payroll deductions accumulated by the Participant under the Plan for the period shall be paid to the Participant without interest. 
  

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 SECTION 3. 
 OPERATION AND ADMINISTRATION 
 3.1. Effective Date. Subject to the approval of the shareholders of the Company
at the Company’s 1996 annual meeting of its shareholders, the Plan shall be effective as of the date on which it is adopted by the Board; provided, however, that to the extent that rights are granted under the Plan prior to its approval by
shareholders, they shall be contingent on approval of the Plan by the shareholders of the Company. The Plan shall be unlimited in duration and, in the event of Plan termination, shall remain in effect as long as any rights granted under the Plan are
outstanding. 
 3.2. Shares Subject to Plan. Shares of Stock to be purchased under the Plan shall be subject to the following: 
  

	 	(a)	The shares of Stock which may be purchased under the Plan shall be currently authorized but unissued shares, or shares purchased in the open market by a direct or indirect wholly
owned subsidiary of the Company (as determined by any executive officer of the Company). The Company may contribute to the subsidiary an amount sufficient to accomplish the purchase in the open market of the shares of Stock to be so acquired (as
determined by any executive officer of the Company). 

  

	 	(b)	Subject to the provisions of subsection 3.3, effective May 18, 2006, an additional 1,500,000 shares of Stock in the aggregate shall be available for purchase under the Plan,
which 1,500,000 shares of Stock shall be in addition to any remaining shares of the 1,500,000 (which number reflects the adjustment giving effect to the Stock split in March, 1998) shares of Stock originally designated as available for purchase on
the Plan’s original Effective Date. 

  

	 	(c)	A Participant will have no interest in shares of Stock covered by his Subscription Agreement until the shares are delivered to him. 

 3.3. Adjustments to Shares. 
 (a) If the Company shall effect any
subdivision or consolidation of shares of Stock or other capital readjustment, payment of stock dividend, stock split, combination of shares or recapitalization or other increase or reduction of the number of shares of Stock outstanding without
receiving compensation therefor in money, services or property, then, subject to the requirements of Code section 423, the Committee shall adjust the number of shares of Stock available under the Plan. 
 (b) If the Company is reorganized, merged or consolidated or is party to a plan of exchange with another corporation, pursuant to which reorganization, merger,
consolidation or plan of exchange the shareholders of the Company receive any shares of stock or other securities or property, or the Company shall distribute securities of another corporation to its shareholders, then, subject to the requirements
of Code section 423, there shall be substituted for the shares subject to outstanding rights to purchase Stock under the Plan an appropriate number of shares of each class of stock or amount of other securities or property which were distributed to
the shareholders of the Company in respect of such shares. 
  

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 3.4. Limit on Distribution. Distribution of shares of Stock or other amounts under the Plan shall be subject to
the following: 
  

	 	(a)	Notwithstanding any other provision of the Plan, the Company shall have no liability to issue any shares of Stock under the Plan unless such delivery or distribution would comply
with all applicable laws and the applicable requirements of any securities exchange or similar entity. 

  

	 	(b)	In the case of a Participant who is subject to Section 16(a) and 16(b) of the Securities Exchange Act of 1934, the Committee may, at any time, add such conditions and
limitations with respect to such Participant as the Committee, in its sole discretion, deems necessary or desirable to comply with Section 16(a) or 16(b) and the rules and regulations thereunder or to obtain any exemption therefrom.

  

	 	(c)	To the extent that the Plan provides for issuance of certificates to reflect the transfer of shares of Stock, the transfer of such shares may, at the direction of the Committee, be
effected on a non-certificated basis, to the extent not prohibited by the provisions of Rule 16b-3, applicable local law, the applicable rules of any stock exchange, or any other applicable rules. 

 3.5. Withholding. All benefits under the Plan are subject to withholding of all applicable taxes. 
 3.6. Transferability. Except as otherwise permitted under Code section 424 and SEC Rule 16b-3, neither the amount of any payroll deductions made with respect to a Participant’s compensation nor any
Participant’s rights to purchase shares of Stock under the Plan may be pledged or hypothecated, nor may they be assigned or transferred other than by will and the laws of descent and distribution. During the lifetime of the Participant, the
rights provided to the Participant under the Plan may be exercised only by him. 
 3.7. Limitation of Implied Rights. 
 (a) Neither a Participant nor any other person shall, by reason of the Plan, acquire any right in or title to any assets, funds or property of the Employers whatsoever,
including, without limitation, any specific funds, assets, or other property which the Employers, in their sole discretion, may set aside in anticipation of a liability under the Plan. A Participant shall have only a contractual right to the
amounts, if any, payable under the Plan, unsecured by any assets of the Employers. Nothing contained in the Plan shall constitute a guarantee by any of the Employers that the assets of the Employers shall be sufficient to pay any benefits to any
person. 
 (b) The Plan does not constitute a contract of employment, and participation in the Plan will not give any employee the right to be retained in
the employ of an Employer or any Related Company, nor any right or claim to any benefit under the Plan, unless such right or claim has specifically accrued under the terms of the Plan. Except as otherwise provided in the Plan, no right to purchase

  

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shares under the Plan shall confer upon the holder thereof any right as a shareholder of the Company prior to the date on which he fulfills all service
requirements and other conditions for receipt of such rights. 
 3.8. Evidence. Evidence required of anyone under the Plan may be by certificate,
affidavit, document or other information which the person acting on it considers pertinent and reliable, and signed, made or presented by the proper party or parties. 
 3.9. Action by Employers. Any action required or permitted to be taken by any Employer shall be by resolution of its board of directors, or by action of one or more members of the board (including a committee
of the board) who are duly authorized to act for the board, or (except to the extent prohibited by the provisions of Rule 16b-3, applicable local law, the applicable rules of any stock exchange, or any other applicable rules) by a duly authorized
officer of the Employer. 
 3.10. Gender and Number. Where the context admits, words in any gender shall include any other gender, words in the
singular shall include the plural and the plural shall include the singular. 
 SECTION 4. 
 COMMITTEE 
 4.1. Administration. The authority
to control and manage the operation and administration of the Plan shall be vested in a committee (the “Committee”) in accordance with this Section 4. 
 4.2. Selection of Committee. The Committee shall be selected by the Board, and shall consist of not less than two members of the Board, or such greater number as may be required for compliance with SEC
Rule 16b-3. 
 4.3. Powers of Committee. The authority to manage and control the operation and administration of the Plan shall be vested in the
Committee, subject to the following: 
  

	 	(a)	Subject to the provisions of the Plan, the Committee will have the authority and discretion to establish the terms, conditions, restrictions, and other provisions applicable to the
right to purchase shares of Stock under the Plan. 

  

	 	(b)	The Committee will have the authority and discretion to interpret the Plan, to establish, amend, and rescind any rules and regulations relating to the Plan, to determine the terms
and provisions of any agreements made pursuant to the Plan, and to make all other determinations that may be necessary or advisable for the administration of the Plan. 

  

	 	(c)	Any interpretation of the Plan by the Committee and any decision made by it under the Plan is final and binding on all persons. 

 4.4. Delegation by Committee. Except to the extent prohibited by the provisions of Rule 16b-3, applicable local law, the applicable rules of any stock
exchange, or any other applicable rules, the Committee may allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any part of its responsibilities and powers to any person or persons
selected by it. Any such allocation or delegation may be revoked by the Committee at any time. 
  

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 4.5. Information to be Furnished to Committee. The Employers and Related Companies shall furnish the Committee
with such data and information as may be required for it to discharge its duties. The records of the Employers and Related Companies as to an employee’s or Participant’s employment, termination of employment, leave of absence, reemployment
and compensation shall be conclusive on all persons unless determined to be incorrect. Participants and other persons entitled to benefits under the Plan must furnish the Committee such evidence, data or information as the Committee considers
desirable to carry out the terms of the Plan. 
 4.6. Liability and Indemnification of Committee. No member or authorized delegate of the Committee
shall be liable to any person for any action taken or omitted in connection with the administration of the Plan unless attributable to his own fraud or willful misconduct; nor shall the Employers be liable to any person for any such action unless
attributable to fraud or willful misconduct on the part of a director or employee of the Employers. The Committee, the individual members thereof, and persons acting as the authorized delegates of the Committee under the Plan, shall be indemnified
by the Employers, to the fullest extent permitted by law, against any and all liabilities, losses, costs and expenses (including legal fees and expenses) of whatsoever kind and nature which may be imposed on, incurred by or asserted against the
Committee or its members or authorized delegates by reason of the performance of a Committee function if the Committee or its members or authorized delegates did not act dishonestly or in willful violation of the law or regulation under which such
liability, loss, cost or expense arises. This indemnification shall not duplicate but may supplement any coverage available under any applicable insurance. 
 SECTION 5. 
 AMENDMENT AND TERMINATION 
 The Board may, at any time, amend or terminate the Plan, provided that, subject to subsection 3.3 (relating to certain adjustments to shares), no
amendment or termination may adversely affect the rights of any Participant or beneficiary with respect to shares that have been purchased prior to the date such amendment is adopted by the Board. No amendment of the Plan may be made without
approval of the Company’s shareholders to the extent that such approval is required to maintain compliance with the requirements of Code section 423. 
 SECTION 6. 
 DEFINED TERMS 
 For purposes of the Plan, the terms listed below shall be defined as follows: 
  

	 	(a)	Board. The term “Board” shall mean the Board of Directors of the Company. 

  

	 	(b)	Code. The term “Code” means the Internal Revenue Code of 1986, as amended. A reference to any provision of the Code shall include reference to any successor
provision of the Code. 

  

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	 	(c)	Compensation. The term “Compensation” means total compensation paid by an Employer for the applicable period specified in Section 2.2, exclusive of any payment
in cash or kind under any stock option plan, deferred compensation plan, or other employee benefit plan or program of the Company or Related Company. 

  

	 	(d)	Dollars. As used in the Plan, the term “dollars” or numbers preceded by the symbol “$” shall mean amounts in United States Dollars.

  

	 	(e)	Effective Date. The “Effective Date” shall be the date on which the Plan is adopted by the Board. 

  

	 	(f)	Employer. The Company and each Related Company which, with the consent of the Company, adopts the Plan for the benefit of its eligible employees are referred to collectively
as the “Employers” and individually as an “Employer”. 

  

	 	(g)	Fair Market Value. The “Fair Market Value” of a share of Stock of the Company as of any date shall be the closing market composite price for such Stock as reported
for the New York Stock Exchange - Composite Transactions on that date or, if Stock is not traded on that date, on the next preceding date on which Stock was traded. 

  

	 	(h)	Participant. The term “Participant” means any employee of an Employer who is eligible and elects to participate pursuant to the provisions of Section 2.

  

	 	(i)	Related Companies. The term “Related Company” means any company during any period in which it is a “subsidiary corporation” (as that term is defined in
Code section 424(f)) with respect to the Company. 

  

 7

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