Document:

EX-10.6

 Exhibit 10.6 

TOPGOLF INTERNATIONAL, INC. 

INCENTIVE STOCK OPTION 

GRANT NOTICE FOR 2015 STOCK INCENTIVE PLAN 

Topgolf International, Inc. (the “Company”), hereby grants to the Participant named below an incentive stock option (the
“Option”) to purchase any part or all of the number of shares of its Common Stock that are covered by this Option, as specified below, at the exercise price per share specified below and upon the terms and subject to the conditions
set forth in this Grant Notice, the Topgolf International, Inc. 2015 Stock Incentive Plan (the “Plan”) and the Standard Terms and Conditions (the “Standard Terms and Conditions”) promulgated under such Plan, each as
amended from time to time. This Option is granted pursuant to the Plan and is subject to and qualified in its entirety by the Standard Terms and Conditions and the Plan. Capitalized terms not otherwise defined herein shall have the meaning set forth
in the Plan. 
  

			
		
	Name of Participant:	  	
		
	Grant Date:	  	
		
	Number of Shares of Common Stock covered by Option:	  	
		
	Exercise Price Per Share:	  	
		
	Expiration Date:	  	
		
	Vesting Schedule:	  	

 This Option is intended to qualify as an incentive stock option under Section 422 of the Code. By accepting this Grant
Notice, Participant acknowledges that he or she has received and read, and agrees that this Option shall be subject to, the terms of this Grant Notice, the Plan and the Standard Terms and Conditions. 

 

							
	TOPGOLF INTERNATIONAL, INC.	 		 	  

		 		 	Participant Signature

							
	By:	 	  
	 		 	
	Name:	 	  
	 		 	Address (please print):
	Title:	 	  
	 		 	  

		 		 		 	  

		 		 		 	  

 TOPGOLF INTERNATIONAL, INC. 

STANDARD TERMS AND CONDITIONS FOR 

INCENTIVE STOCK OPTIONS 
 These Standard
Terms and Conditions apply to the Options granted pursuant to the Topgolf International, Inc. 2015 Stock Incentive Plan (the “Plan”), which are identified as incentive stock options and are evidenced by a Grant Notice or an action
of the Committee that specifically refers to these Standard Terms and Conditions. In addition to these Terms and Conditions, the Option shall be subject to the terms of the Plan, which are incorporated into these Standard Terms and Conditions by
reference. Capitalized terms not otherwise defined herein shall have the meaning set forth in the Plan. 
  

	1.	 Terms of Option 

Topgolf International, Inc. (the “Company”), has granted to the Participant named in the Grant Notice provided to said Participant herewith
(the “Grant Notice”) an incentive stock option (the “Option”) to purchase up to the number of shares of Common Stock set forth in the Grant Notice. The exercise price per share and the other terms and conditions of
the Option are set forth in the Grant Notice, these Standard Terms and Conditions (as amended from time to time), and the Plan. For purposes of these Standard Terms and Conditions and the Grant Notice, any reference to the Company shall include a
reference to any Subsidiary. 
  

	2.	 Incentive Stock Option 

The Option is intended to be an incentive stock option under Section 422 of the Code and will be interpreted accordingly. Notwithstanding anything to the
contrary herein, Section 422 of the Code provides that incentive stock options (including, possibly, the Option) shall not be treated as incentive stock options if and to the extent that the aggregate fair market value of shares of Common Stock
(determined as of the time of grant) with respect to which such 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, taking
options into account in the order in which they were granted. Thus, if and to the extent that any shares of Common Stock issued under a portion of the Option exceeds the foregoing $100,000 limitation, such shares shall not be treated as issued under
an incentive stock option pursuant to Section 422 of the Code. 
  

	3.	 Exercise of Option 

The Option shall not be exercisable as of the Grant Date set forth in the Grant Notice. After the Grant Date, to the extent not previously exercised, and
subject to termination or acceleration as provided in these Standard Terms and Conditions and the Plan, the Option shall be exercisable only to the extent it becomes vested, as described in the Grant Notice, to purchase up to that number of shares
of Common Stock as set forth in the Grant Notice, provided that (except as set forth in Section 4(a) below) the Participant remains employed with the Company and does not experience a termination of employment or other
separation of service. The vesting period and/or exercisability of an Option may be adjusted by the Committee to reflect any decreased level of employment during any period in which the Participant is on an approved leave of absence or is employed
on a less than full time basis. 

 To exercise the Option (or any part thereof), the Participant shall deliver to the Company a “Notice of
Exercise” in a form specified by the Committee, specifying the number of whole shares of Common Stock the Participant wishes to purchase and how the Participant’s shares of Common Stock should be registered (in the Participant’s name
only or in the Participant’s and the Participant’s spouse’s names as community property or as joint tenants with right of survivorship). 

The exercise price (the “Exercise Price”) of the Option is set forth in the Grant Notice. The Company shall not be obligated to issue any
shares of Common Stock until the Participant shall have paid the total Exercise Price for that number of shares of Common Stock. The Exercise Price may be paid in Common Stock, cash or a combination thereof, including the delivery of previously
owned Common Stock, withholding of shares of Common Stock deliverable upon exercise of the Option (but only to the extent share withholding is made available to the Participant by the Company), or in such other manner as may be permitted by the
Committee. 
 Fractional shares may not be exercised. Shares of Common Stock will be issued as soon as practical after exercise. Notwithstanding the above,
the Company shall not be obligated to deliver any shares of Common Stock during any period when the Company determines that the exercisability of the Option or the delivery of shares of Common Stock hereunder would violate any federal, state or
other applicable laws. 
  

	4.	 Expiration of Option 

The Option shall expire and cease to be exercisable as of the earlier of (i) the Expiration Date set forth in the Grant Notice or (ii) the date
specified below in connection with the Participant’s termination of employment or separation from service: 
  

	 	(a)	 If the Participant’s termination of employment or separation from service is by reason of death, the
Participant’s estate, beneficiary or legal representative may exercise the Option (to the extent then vested and exercisable) until the date that is twelve (12) months following the date of such termination of employment or separation from
service. 

  

	 	(b)	 If the Participant’s termination of employment or separation from service is for any reason other than
death or termination for Cause, the Participant may exercise any portion of the Option that is vested and exercisable at the time of such termination of employment or separation from service until the date that is three (3) months following the
date of termination of employment or separation from service. Any portion of the Option that is not vested and exercisable at the time of such termination of employment or separation from service shall be forfeited and canceled as of the date of
such termination of employment or separation from service. “Cause” shall have the meaning assigned to such term (or as assigned to the term “Substantial Cause”) under the Participant’s employment agreement, if any. If there
is no employment agreement, Cause shall mean the Participant’s termination of employment or service for any of the following reasons: (i) Participant’s failure to perform his or her duties and responsibilities to the Company, any
Subsidiary or any Affiliate or Participant’s violation of any written Company policy; (ii) Participant’s commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that has caused or is reasonably
expected to result in injury to the Company, any Subsidiary or any Affiliate; (iii) Participant’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company, any Subsidiary or any Affiliate or any other
party to whom the Participant owes an obligation of nondisclosure as a result of his or her relationship with the Company, any Subsidiary or any Affiliate; or (iv) Participant’s material breach of any of his or her obligations under any
written agreement or covenant with the Company, any Subsidiary or any Affiliate. The determination as to whether a Participant’s employment or service has been terminated for Cause shall be made in good faith by the Committee and shall be final
and binding on the Participant. The foregoing definition does not in any way limit the Company’s or any Subsidiary’s ability to terminate a Participant’s employment or consulting relationship at any time. 

  
 2 

	 	(c)	 If the Participant’s termination of employment or separation from service is by the Company for Cause, the
entire Option, whether or not then vested and exercisable, shall be immediately forfeited and canceled as of the date of such termination of employment or separation from service. 

 

	5.	 Restrictions on Resales of Shares Acquired Pursuant to Option Exercise 

 

	 	(a)	 The Company may impose such restrictions, conditions or limitations as it determines appropriate as to the
timing and manner of any resales by the Participant or other subsequent transfers by the Participant of any shares of Common Stock issued as a result of the exercise of the Option, including without limitation (i) restrictions under an insider
trading policy or pursuant to applicable law, (ii) restrictions designed to delay and/or coordinate the timing and manner of sales by the Participant and holders of other Company equity compensation arrangements, (iii) restrictions as to
the use of a specified brokerage firm for such resales or other transfers, (iv) provisions requiring Common Stock be sold on the open market or to the Company in order to satisfy tax withholding or other obligations and/or (v) mandatory
holding periods. 

  

	 	(b)	 Market Stand-Off. The Participant shall not, without the prior
written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the registration by the Company of shares of its Common Stock or any other equity securities under the Securities Act of 1933,
as amended (the “Securities Act”), on a registration statement on Form S-1 or Form S-3 and ending on the date specified by the Company and the
managing underwriter (such period not to exceed (i) one hundred eighty (180) days in the case of the Company’s first underwritten public offering of its Common Stock under the Securities Act (“IPO”), which period may
be extended upon the request of the managing underwriter, to the extent required by any FINRA rules, for an additional period of up to fifteen (15) days if the Company issues or proposes to issue an earnings or other public release within
fifteen (15) days of the expiration of the 180-day lockup period, or (ii) ninety (90) days in the case of any registration other than the IPO, which period may be extended upon the request of
the managing underwriter, to the extent required by any FINRA rules, for an additional period of up to fifteen (15) days if the Company issues or proposes to issue an earnings or other public release within fifteen (15) days of the
expiration of the 90-day lockup period), (1) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or warrant
to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock, including the Option, which is held
immediately before the effective date of the registration statement for such offering or (2) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such
securities, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The Participant further agrees to execute such agreements as may be
reasonably requested by the underwriters in connection with such registration that are consistent with this Section 5(b) or that are necessary to give further effect thereto. In order to enforce the foregoing, the Participant agrees that the
Company may impose stop-transfer instructions with respect to any shares of Common Stock of the Participant (and transferees and assignees thereof) until the end of such restricted period. 

  
 3 

	 	(c)	 Right of First Refusal. At all times prior to the Company’s IPO, before any shares of Common Stock
acquired by exercise of the Options (the “Option Shares”) held by the Participant or any permitted transferee (each, a “Holder”) may be sold, pledged, assigned, hypothecated, transferred, or otherwise disposed of
(including transfer by gift or operation of law and, collectively, “Transfer” or “Transferred”), the Company or its assignee(s) shall have a right of first refusal to purchase the Option Shares on the terms and
conditions set forth in this Section (the “Right of First Refusal”). 

  

	 	1.	 The Holder of the Option Shares shall deliver to the Company a written notice (the “Notice”)
stating: (i) the Holder’s bona fide intention to sell or otherwise Transfer such the Option Shares; (ii) the name of each proposed purchaser or other transferee (“Proposed Transferee”); (iii) the number of the Option
Shares to be Transferred to each Proposed Transferee; and (iv) the bona fide cash price or other consideration for which the Holder proposes to Transfer the Option Shares (the “Offered Price”), and the Holder shall offer the
Option Shares at the Offered Price to the Company or its assignee(s). 

  

	 	2.	 Within fifteen (15) days after receipt of the Notice, the Company and/or its assignee(s) may elect in
writing to purchase all, but not less than all, of the Option Shares proposed to be Transferred to any one or more of the Proposed Transferees. The purchase price will be determined in accordance with subsection 5.C.3 below. 

  
 4 

	 	3.	 The purchase price (the “Purchase Price”) for the Option Shares repurchased under this Section
shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board or the Committee in good faith.

  

	 	4.	 Payment of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by
check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any combination thereof. 

 

	 	5.	 If all of the Option Shares proposed in the Notice to be transferred to a given Proposed Transferee are not
purchased by the Company and/or its assignee(s) as provided in this Section, then the Holder may, if and only as permitted under the Plan, sell or otherwise Transfer such Option Shares to that Proposed Transferee at the Offered Price or at a higher
price, provided that such sale or other Transfer is consummated within forty-five (45) days after the date of the Notice (or if later, the date of the proposed Transfer as set forth in the Notice) and provided further that any such sale or
other Transfer is effected in accordance with any applicable securities laws and the Proposed Transferee agrees in writing that the provisions of this Section shall continue to apply to the Option Shares in the hands of such Proposed Transferee. If
the Option Shares described in the Notice are not Transferred to the Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal as
provided herein before any Option Shares held by the Holder may be sold or otherwise Transferred. 

  

	 	6.	 Anything to the contrary contained in this Section notwithstanding, the Transfer of any or all of the Option
Shares during Participant’s lifetime or on Participant’s death by will or intestacy to Participant’s Immediate Family (as defined below) or a trust for the benefit of Participant’s Immediate Family shall be exempt from the Right
of First Refusal. As used herein, “Immediate Family” shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister or stepchild (whether or not adopted). In such case, the transferee or other recipient shall
receive and hold the Option Shares so Transferred subject to the provisions of this Section (including the Right of First Refusal), and there shall be no further Transfer of such Option Shares except in accordance with the terms of this Section.

  

	 	(d)	 Voting Agreement. In the event that the grant of the Option causes the Participant to hold capital stock
of the Company constituting one percent (1%) or more of the Company’s then outstanding capital stock (treating for this purpose all shares of Common Stock issuable upon the exercise of or conversion of outstanding options, warrants, or
convertible securities, as if exercised and/or converted or exchanged), then as of the Grant Date, the Participant shall execute and agree to be bound by the terms of that certain Second Amended and Restated Voting Agreement dated as of
August 20, 2013, as amended from time to time (the “Voting Agreement”), by executing an Adoption Agreement in the form attached to the Voting Agreement as Exhibit A. 

  
 5 

	 	(e)	 Right of First Refusal and Co-Sale Agreement. Upon any exercise
of this Option, the Participant shall execute and agree to be bound by the terms of that certain Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of January 11, 2011, as amended
from time to time, by executing a counterpart signature page thereto as an Investor (as defined thereunder). 

  

	6.	 Income Taxes 

The Company shall not deliver shares of Common Stock in respect of the exercise of any Option unless and until the Participant has made arrangements
satisfactory to the Company to satisfy applicable withholding tax obligations. Unless the Participant pays the withholding tax obligations to the Company by cash or check in connection with the exercise of the Option, withholding may be effected, at
the Company’s option, by withholding Common Stock issuable in connection with the exercise of the Option. The Participant acknowledges that the Company shall have the right to deduct any taxes required to be withheld by law in connection with
the exercise of the Option from any amounts payable by it to the Participant (including, without limitation, future cash wages). 
  

	7.	 Non-Transferability of Option 

Except as permitted by the Committee or as permitted under the Plan, the Participant may not assign or transfer the Option to anyone other than by will or the
laws of descent and distribution and the Option shall be exercisable only by the Participant during his or her lifetime. The Company may cancel the Participant’s Option if the Participant attempts to assign or transfer it in a manner
inconsistent with this Section 7. 
  

	8.	 Other Agreements Superseded 

Notwithstanding anything to the contrary contained herein, to the extent an employment agreement between the Participant and the Company addresses the
treatment of any equity awards granted by the Company to the Participant, the terms of such agreement shall control. Any such employment agreement, the Grant Notice, these Standard Terms and Conditions and the Plan constitute the entire
understanding between the Participant and the Company regarding the Option. Any other prior agreements, commitments or negotiations concerning the Option are superseded. 
  

	9.	 Limitation of Interest in Shares Subject to Option 

Neither the Participant (individually or as a member of a group) nor any beneficiary or other person claiming under or through the Participant shall have any
right, title, interest, or privilege in or to any shares of Common Stock allocated or reserved for the purpose of the Plan or subject to the Grant Notice or these Standard Terms and Conditions except as to such shares of Common Stock, if any, as
shall have been issued to such person upon exercise of the Option or any part of it. Nothing in the Plan, in the Grant Notice, these Standard Terms and Conditions or any other instrument executed pursuant to the Plan shall confer upon the
Participant any right to continue in the Company’s employ or service nor limit in any way the Company’s right to terminate the Participant’s employment or service at any time for any reason. 

  
 6 

	10.	 No Liability of Company 

The Company, any Subsidiary or Affiliate which is in existence or hereafter comes into existence, the Board and the Committee shall not be liable to a
Participant or any other person as to: (a) the non-issuance or sale of shares of Common Stock as to which the Company has been unable to obtain from any regulatory body having jurisdiction the authority
deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any shares of Common Stock hereunder; and (b) any tax consequence expected, but not realized, by any Participant or other person due to the receipt,
exercise or settlement of any Award granted hereunder. 
  

	11.	 General 

(a) In the event that any provision of these Standard Terms and Conditions is declared to be illegal, invalid or otherwise unenforceable by a
court of competent jurisdiction, such provision shall be reformed, if possible, to the extent necessary to render it legal, valid and enforceable, or otherwise deleted, and the remainder of these Standard Terms and Conditions shall not be affected
except to the extent necessary to reform or delete such illegal, invalid or unenforceable provision. 
 (b) The headings preceding the text
of the sections hereof are inserted solely for convenience of reference, and shall not constitute a part of these Standard Terms and Conditions, nor shall they affect its meaning, construction or effect. 

(c) These Standard Terms and Conditions shall inure to the benefit of and be binding upon the parties hereto and their respective permitted
heirs, beneficiaries, successors and assigns. 
 (d) These Standard Terms and Conditions shall be construed in accordance with and governed
by the laws of the State of Delaware, without regard to principles of conflicts of law. 
 (e) In the event of any conflict between the Grant
Notice, these Standard Terms and Conditions and the Plan, the Grant Notice and these Standard Terms and Conditions shall control. In the event of any conflict between the Grant Notice and these Standard Terms and Conditions, the Grant Notice shall
control. 
 (f) All questions arising under the Plan or under these Standard Terms and Conditions shall be decided by the Committee in its
total and absolute discretion. 
  

	12.	 Electronic Delivery 

By executing the Grant Notice, the Participant hereby consents to the delivery of information (including, without limitation, information required to be
delivered to the Participant pursuant to applicable securities laws) regarding the Company and the Subsidiaries, the Plan, the Option and the Common Stock via Company web site or other electronic delivery. 

  
 7 

	13.	 [Confidentiality of Agreement 

By executing the Grant Notice, the Participant agrees that he or she shall keep confidential all of the terms and conditions, including amounts, in the Grant
Notice and these Standard Terms and Conditions and shall not disclose them to any person other than the Participant’s spouse, the Participant’s legal or financial advisor, or governmental officials who seek such information in the course
of their official duties, unless compelled by law to do so.]1 
  

	1 	 NTD: To be included as applicable. 

  
 8EX-10.7

 Exhibit 10.7 

TOPGOLF INTERNATIONAL, INC. 

2016 STOCK INCENTIVE PLAN 
  

	1.	 PURPOSE. The purpose of this Topgolf International, Inc. 2016 Stock Incentive Plan is to attract
and retain the best available personnel, to provide additional incentive to persons who provide services to the Company or its Subsidiaries, and to promote the success of the business of Topgolf International, Inc. The Plan provides for the grant of
Options, Stock Appreciation Rights, Restricted Stock Units and Restricted Stock, any of which may be performance-based, and for Incentive Bonuses, which may be paid in cash or stock or a combination thereof, as determined by the Committee.

  

	2.	 DEFINITIONS. As used in the Plan, the following terms shall have the meanings set forth below:

  

	 	(a)	 “Affiliate” means any entity in which the Company has a substantial direct or indirect equity
interest, as determined by the Committee from time to time. 

  

	 	(b)	 “Award” means an Option, a Stock Appreciation Right, a Restricted Stock Unit, Restricted Stock
or an Incentive Bonus granted to a Participant pursuant to the provisions of the Plan. 

  

	 	(c)	 “Award Agreement” means a written or electronic agreement or other instrument as may be
approved from time to time by the Committee and designated as such implementing the grant of each Award. An Award Agreement may be in the form of an agreement to be executed by both the Participant and the Company (or an authorized representative of
the Company) or certificates, notices or similar instruments as approved by the Committee and designated as such. 

  

	 	(d)	 “Board” means the board of directors of the Company. 

 

	 	(e)	 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rulings
and regulations issued thereunder. 

  

	 	(f)	 “Committee” means the Compensation, Organization, and Governance Committee of the Board (or
any successor committee), or such other committee as designated by the Board to administer the Plan under Section 6. 

  

	 	(g)	 “Common Stock” means the common stock of the Company, par value $0.00001 a share, or such
other class or kind of shares or other securities as may be applicable under Section 14. 

  

	 	(h)	 “Company” means Topgolf International, Inc., a Delaware Corporation. 

 

	 	(i)	 “Dividend Equivalents” mean an amount payable in cash or Common Stock, as determined by the
Committee, with respect to a Restricted Stock Unit Award equal to what would have been received if the shares underlying the Award had been owned by the Participant. 

 

	 	(j)	 “Effective Date” means the date on which the Plan takes effect, as defined pursuant to
Section 4. 

  

	 	(k)	 “Eligible Person” means any employee, non-employee
director or other service provider (other than a provider of capital raising services) of the Company or any of its Subsidiaries; provided however that Incentive Stock Options may only be granted to employees. 

	 	(l)	 “Fair Market Value” means as of any date, the value of the Common Stock determined as follows:
(i) if the Common Stock is listed on any established stock exchange, system or market, its Fair Market Value shall be the closing price for the Common Stock as quoted on such exchange, system or market as reported in the Wall Street Journal or
such other source as the Committee deems reliable on that date or, if such date is not a trading date, the next preceding trading date; and (ii) in the absence of an established market for the Common Stock, the Fair Market Value thereof shall
be determined in good faith by the Committee by the reasonable application of a reasonable valuation method, taking into account factors set forth in Treas. Reg. § 409A-1(b)(5)(iv)(B) as the Committee
deems appropriate. 

  

	 	(m)	 “Incentive Bonus” means a bonus opportunity awarded under Section 11
pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria established for a specified performance period as specified in the Award Agreement. 

 

	 	(n)	 “Incentive Stock Option” means a stock option that is designated as potentially eligible to
qualify as an “incentive stock option” within the meaning of Section 422 of the Code. 

  

	 	(o)	 “Nonqualified Stock Option” means a stock option that is not intended to qualify as an
“incentive stock option” within the meaning of Section 422 of the Code. 

  

	 	(p)	 “Option” means a right to purchase a number of shares of Common Stock at such exercise price,
at such times and on such other terms and conditions as are specified in or determined pursuant to an Award Agreement. Options granted pursuant to the Plan may be Incentive Stock Options or Nonqualified Stock Options. 

 

	 	(q)	 “Participant” means any individual described in Section 3 to whom
Awards have been granted from time to time by the Committee and any authorized transferee of such individual. 

  

	 	(r)	 “Plan” means the Topgolf International, Inc. 2016 Stock Incentive Plan, as set forth herein
and as amended from time to time. 

  

	 	(s)	 “Restricted Stock” means an Award of Common Stock the retention, vesting and/or
transferability of which is subject during specified periods of time to such conditions (including continued employment or service or performance conditions) and terms as the Committee deems appropriate. 

 

	 	(t)	 “Restricted Stock Unit” means an Award denominated in units of Common Stock under which the
issuance of shares of Common Stock (or cash payment in lieu thereof) is subject to such conditions (including continued employment or service or performance conditions) and terms as the Committee deems appropriate. 

 

	 	(u)	 “Separation from Service” or “Separates from Service” means the termination
of Participant’s employment with the Company and all Subsidiaries that constitutes a “separation from service” within the meaning of Section 409A of the Code. 

 

	 	(v)	 “Stock Appreciation Right” means a right granted that entitles the Participant to receive, in
cash or Common Stock or a combination thereof, as determined by the Committee, value equal to the excess of (i) the Fair Market Value of a specified number of shares of Common Stock at the time of exercise over (ii) the exercise price of
the right, as established by the Committee on the date of grant. 

  
 2 

	 	(w)	 “Subsidiary” means any business association (including a corporation or a partnership, other
than the Company) in an unbroken chain of such associations beginning with the Company if each of the associations other than the last association in the unbroken chain owns equity interests (including stock or partnership interests) possessing 50%
or more of the total combined voting power of all classes of equity interests in one of the other associations in such chain. 

  

	 	(x)	 “Substitute Awards” means Awards granted or Common Stock issued by the Company in assumption
of, or in substitution or exchange for, awards previously granted, or the right or obligation to make future awards, by a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines. 

 

	3.	 ELIGIBILITY. The Committee may select any Eligible Person to receive an Award.

  

	4.	 EFFECTIVE DATE AND TERMINATION OF PLAN. This Plan shall become effective on the date of its
adoption by the Board, subject to its approval by the Company’s stockholders (the “Effective Date”). If holders of stock of the Company representing a majority of the votes entitled to be cast on the matter fail to approve the
Plan within 12 months of its adoption by the Board, any Awards that have already been made shall be rescinded, and no additional Awards shall be made thereafter under the Plan. The Plan shall remain available for the grant of Awards until the tenth
(10th) anniversary of the Effective Date. Notwithstanding the foregoing, the Plan may be terminated at such earlier time as the Board may determine. Termination of the Plan will not affect the rights and obligations of the Participants and the
Company arising under Awards previously granted. 

  

	5.	 SHARES SUBJECT TO THE PLAN AND TO AWARDS. 

 

	 	(a)	 Aggregate Limits. Subject to adjustment as provided in Section 14, the
aggregate number of shares of Common Stock issuable under the Plan following the Effective Date shall not exceed 1,455,000. The shares of Common Stock issued pursuant to Awards granted under this Plan may be shares that are authorized and unissued,
treasury shares, or shares that were reacquired by the Company, including shares purchased in the open market. 

  

	 	(b)	 Issuance of Shares. For purposes of Section 5(a), the aggregate number of shares of Common Stock
issued under this Plan at any time shall equal only the number of shares of Common Stock actually issued upon exercise or settlement of an Award. The aggregate number of shares available for issuance under this Plan at any time shall not be reduced
by (i) shares subject to Awards that have been terminated, expired unexercised, forfeited or settled in cash, (ii) shares subject to Awards that have been retained or withheld by the Company in payment or satisfaction of the exercise
price, purchase price or tax withholding obligation of an Award, or (iii) shares subject to Awards that otherwise do not result in the issuance of shares in connection with payment or settlement thereof. In addition, shares of Common Stock that
have been delivered (either actually or by attestation) to the Company in payment or satisfaction of the exercise price, purchase price or tax withholding obligation of an Award shall be available for issuance under this Plan. 

 

	 	(c)	 Tax Code Limits. The aggregate number of shares of Common Stock that may be issued following the
Effective Date pursuant to the exercise of Incentive Stock Options granted under this Plan shall be equal to 1,455,000 which number shall be adjusted pursuant to Section 14 to the extent that such adjustment will not affect
the status of any option intended to qualify as an Incentive Stock Option under Section 422 of the Code. 

  
 3 

	 	(d)	 Substitute Awards. Substitute Awards shall not reduce the shares of Common Stock authorized for issuance
under the Plan. Additionally, in the event that a company acquired by the Company or any Subsidiary, or with which the Company or any Subsidiary combines, has shares available under a pre-existing plan
approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent
appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or
combination) may be used for Awards under the Plan and shall not reduce the shares of Common Stock authorized for issuance under the Plan; provided that Awards using such available shares shall not be made after the date awards or grants could have
been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who were employees of such acquired or combined company before such acquisition
or combination. 

  

	6.	 ADMINISTRATION OF THE PLAN. 

 

	 	(a)	 Administrator of the Plan. The Plan shall be administered by the Committee. The Board shall fill
vacancies on, and from time to time may remove or add members to, the Committee. Any power of the Committee may also be exercised by the Board. To the extent that any permitted action taken by the Board conflicts with action taken by the Committee,
the Board action shall control. To the maximum extent permissible under applicable law, the Committee (or any successor) may by resolution delegate any or all of its authority to one or more subcommittees composed of one or more directors and/or
officers, and any such subcommittee shall be treated as the Committee for all purposes under this Plan. Notwithstanding the foregoing, if the Board or the Committee (or any successor) delegates to a subcommittee comprised of one or more officers of
the Company (who are not also directors) the authority to grant Awards, the resolution so authorizing such subcommittee shall specify the total number of shares of Common Stock such subcommittee may award pursuant to such delegated authority, and no
such subcommittee shall designate any officer serving thereon or any executive officer or non-employee director of the Company as a recipient of any Awards granted under such delegated authority. The Committee
hereby delegates to the Chief Financial Officer of the Company (or such other officer with similar authority), and to his or her delegates or designees, the authority to assist the Committee in the day-to-day administration of the Plan and of Awards granted under the Plan, including without limitation the power to execute agreements evidencing Awards made under this Plan or other documents entered into
under this Plan on behalf of the Committee or the Company. The Committee may further designate and delegate to one or more additional officers or employees of the Company or any subsidiary, and/or one or more agents, authority to assist the
Committee in any or all aspects of the day-to-day administration of the Plan and/or of Awards granted under the Plan. 

 

	 	(b)	 Powers of Committee. Subject to the express provisions of this Plan, the Committee shall be authorized
and empowered to do all things that it determines to be necessary or appropriate in connection with the administration of this Plan, including, without limitation: 

 

	 	(i)	 to prescribe, amend and rescind rules and regulations relating to this Plan and to define terms not otherwise
defined herein; 

  

	 	(ii)	 to determine which persons are Eligible Persons, to which of such Eligible Persons, if any, Awards shall be
granted hereunder and the timing of any such Awards; 

  
 4 

	 	(iii)	 to prescribe and amend the terms of the Award Agreements, to grant Awards and determine the terms and
conditions thereof; 

  

	 	(iv)	 to establish and verify the extent of satisfaction of any performance goals or other conditions applicable to
the grant, issuance, retention, vesting, exercisability or settlement of any Award; 

  

	 	(v)	 to prescribe and amend the terms of or form of any document or notice required to be delivered to the Company
by Participants under this Plan; 

  

	 	(vi)	 to determine the extent to which adjustments are required pursuant to Section 14;

  

	 	(vii)	 to interpret and construe this Plan, any rules and regulations under this Plan and the terms and conditions of
any Award granted hereunder, and to make exceptions to any such provisions if the Committee, in good faith, determines that it is appropriate to do so; 

  

	 	(viii)	 to approve corrections in the documentation or administration of any Award; and 

 

	 	(ix)	 to make all other determinations deemed necessary or advisable for the administration of this Plan.

 The Committee may, in its sole and absolute discretion, except as otherwise provided in
Section 18, waive, settle or adjust any of the terms of any Award so as to avoid unanticipated consequences or address unanticipated events (including any temporary closure of an applicable stock exchange, disruption of
communications or natural catastrophe). 
  

	 	(c)	 Determinations by the Committee. All decisions, determinations and interpretations by the Committee
regarding the Plan, any rules and regulations under the Plan and the terms and conditions of or operation of any Award granted hereunder, shall be final and binding on all Participants, beneficiaries, heirs, assigns or other persons holding or
claiming rights under the Plan or any Award. The Committee shall consider such factors as it deems relevant, in its sole and absolute discretion, to making such decisions, determinations and interpretations including, without limitation, the
recommendations or advice of any officer or other employee of the Company and such attorneys, consultants and accountants as it may select. Members of the Board and members of the Committee acting under the Plan shall be fully protected in relying
in good faith upon the advice of counsel and shall incur no liability except for gross negligence or willful misconduct in the performance of their duties. 

  

	7.	 AWARDS. 

  

	 	(a)	 Terms Set Forth in Award Agreement. Awards may be granted at any time and from time to time prior to the
termination of the Plan to Eligible Persons as determined by the Committee. The terms and conditions of each Award shall be set forth in an Award Agreement in a form approved by the Committee for such Award, which Award Agreement may contain such
terms and conditions as specified from time to time by the Committee, provided such terms and conditions do not conflict with the Plan. The Award Agreement for any Award (other than Restricted Stock awards) shall include the time or times at or
within which and the consideration, if any, for which any shares of Common Stock may be acquired from the Company. The terms of Awards may vary among Participants, and the Plan does not impose upon the Committee any requirement to make Awards
subject to uniform terms. 

  
 5 

	 	(b)	 Rights of a Stockholder. A Participant shall have no rights as a stockholder with respect to shares of
Common Stock covered by an Award (including voting rights) until the date the Participant becomes the holder of record of such shares of Common Stock. No adjustment shall be made for dividends or other rights for which the record date is prior to
such date, except as provided in Section 10(b) or Section 14 of this Plan or as otherwise provided by the Committee. 

 

	8.	 OPTIONS. 

  

	 	(a)	 Grant, Term and Price. The grant, issuance, retention, vesting and/or settlement of any Option shall
occur at such time and be subject to such terms and conditions as determined by the Committee or under criteria established by the Committee, which may include conditions based on continued employment or service, passage of time, attainment of age
and/or service requirements, and/or satisfaction of performance conditions. The term of an Option shall in no event be greater than ten (10) years; provided, however, the term of an Option (other than an Incentive Stock Option) shall be
automatically extended if, at the time of its scheduled expiration, the Participant holding such Option is prohibited by law or the Company’s insider trading policy from exercising the Option, which extension shall expire on the thirtieth
(30th) day following the date such prohibition no longer applies. The Committee will establish the price at which Common Stock may be purchased upon exercise of an Option, which, in no event will be less than the Fair Market Value of such shares on
the date of grant; provided, however, that the exercise price per share of Common Stock with respect to an Option that is granted as a Substitute Award may be less than the Fair Market Value of the shares of Common Stock on the date such Option is
granted if such exercise price is based on a formula set forth in the terms of the options held by such optionees or in the terms of the agreement providing for such merger or other acquisition that satisfies the requirements of
(i) Section 409A of the Code, if such options held by such optionees are not intended to qualify as “incentive stock options” within the meaning of Section 422 of the Code, and (ii) Section 424(a) of the Code, if
such options held by such optionees are intended to qualify as “incentive stock options” within the meaning of Section 422 of the Code. The exercise price of any Option may be paid in cash or such other method as determined by the
Committee, including an irrevocable commitment by a broker to pay over such amount from a sale of the Shares issuable under an Option, the delivery of previously owned shares of Common Stock or withholding of shares of Common Stock deliverable upon
exercise. 

  

	 	(b)	 No Repricing without Stockholder Approval. Other than in connection with a change in the Company’s
capitalization (as described in Section 14), the Committee shall not, without stockholder approval, reduce the exercise price of a previously awarded Option and, at any time when the exercise price of a previously awarded
Option is above the Fair Market Value of a share of Common Stock, the Committee shall not, without stockholder approval, cancel and re-grant or exchange such Option for cash or a new Award with a lower (or no)
exercise price. 

  

	 	(c)	 No Reload Grants. Options shall not be granted under the Plan in consideration for and shall not be
conditioned upon the delivery of shares of Common Stock to the Company in payment of the exercise price and/or tax withholding obligation under any other stock option. 

  
 6 

	 	(d)	 Incentive Stock Options. Notwithstanding anything to the contrary in this
Section 8, in the case of the grant of an Option intending to qualify as an Incentive Stock Option, if the Participant owns stock possessing more than 10 percent of the combined voting power of all classes of stock of
the Company (a “10% Stockholder”), the exercise price of such Option must be at least 110 percent of the Fair Market Value of the shares of Common Stock on the date of grant and the Option must expire within a period of not
more than five (5) years from the date of grant. Notwithstanding anything in this Section 8 to the contrary, options designated as Incentive Stock Options shall not be eligible for treatment under the Code as Incentive
Stock Options (and will be deemed to be Nonqualified Stock Options) to the extent that either (a) the aggregate Fair Market Value of shares of Common Stock (determined as of the time of grant) with respect to which such Options are exercisable
for the first time by the Participant during any calendar year (under all plans of the Company and any Subsidiary) exceeds $100,000, taking Options into account in the order in which they were granted, or (b) such Options otherwise remain
exercisable but are not exercised within three (3) months (or such other period of time provided in Section 422 of the Code) of separation of service (as determined in accordance with Section 3401(c) of the Code and the regulations
promulgated thereunder). 

  

	 	(e)	 No Stockholder Rights. Participants shall have no voting rights and will have no rights to receive
dividends or Dividend Equivalents in respect of an Option or any shares of Common Stock subject to an Option until the Participant has become the holder of record of such shares. 

 

	9.	 STOCK APPRECIATION RIGHTS. 

 

	 	(a)	 General Terms. The grant, issuance, retention, vesting and/or settlement of any Stock Appreciation Right
shall occur at such time and be subject to such terms and conditions as determined by the Committee or under criteria established by the Committee, which may include conditions based on continued employment or service, passage of time, attainment of
age and/or service requirements, and/or satisfaction of performance conditions. Stock Appreciation Rights may be granted to Participants from time to time either in tandem with or as a component of Options granted under the Plan (“tandem
SARs”) or not in conjunction with other Awards (“freestanding SARs”). Upon exercise of a tandem SAR as to some or all of the shares covered by the grant, the related Option shall be canceled automatically to the extent
of the number of shares covered by such exercise. Conversely, if the related Option is exercised as to some or all of the shares covered by the grant, the related tandem SAR, if any, shall be canceled automatically to the extent of the number of
shares covered by the Option exercise. Any Stock Appreciation Right granted in tandem with an Option may be granted at the same time such Option is granted or at any time thereafter before exercise or expiration of such Option, provided that the
Fair Market Value of Common Stock on the date of the SAR’s grant is not greater than the exercise price of the related Option. All freestanding SARs shall be granted subject to the same terms and conditions applicable to Options as set forth in
Section 8 and all tandem SARs shall have the same exercise price as the Option to which they relate. Subject to the provisions of Section 8 and the immediately preceding sentence, the Committee may
impose such other conditions or restrictions on any Stock Appreciation Right as it shall deem appropriate. Stock Appreciation Rights may be settled in Common Stock, cash, Restricted Stock or a combination thereof, as determined by the Committee and
set forth in the applicable Award Agreement. 

  

	 	(b)	 No Repricing without Stockholder Approval. Other than in connection with a change in the Company’s
capitalization (as described in Section 14), the Committee shall not, without stockholder approval, reduce the exercise price of a previously awarded Stock Appreciation Right and, at any time when the exercise price of a
previously awarded Stock Appreciation Right is above the Fair Market Value of a share of Common Stock, the Committee shall not, without stockholder approval, cancel and re-grant or exchange such Stock
Appreciation Right for cash or a new Award with a lower (or no) exercise price. 

  
 7 

	 	(c)	 No Stockholder Rights. Participants shall have no voting rights and will have no rights to receive
dividends or Dividend Equivalents in respect of an Award of Stock Appreciation Rights or any shares of Common Stock subject to an Award of Stock Appreciation Rights until the Participant has become the holder of record of such shares.

  

	10.	 RESTRICTED STOCK AND RESTRICTED STOCK UNITS. 

 

	 	(a)	 Vesting and Performance Criteria. The grant, issuance, retention, vesting and/or settlement of any Award
of Restricted Stock or Restricted Stock Units shall occur at such time and be subject to such terms and conditions as determined by the Committee or under criteria established by the Committee, which may include conditions based on continued
employment or service, passage of time, attainment of age and/or service requirements, and/or satisfaction of performance conditions. 

  

	 	(b)	 Dividends and Distributions. Participants in whose name Restricted Stock is granted shall be entitled to
receive all dividends and other distributions paid with respect to those shares of Common Stock, unless determined otherwise by the Committee. The Committee will determine whether any such dividends or distributions will be automatically reinvested
in additional shares of Restricted Stock and/or subject to the same restrictions on transferability as the Restricted Stock with respect to which they were distributed or whether such dividends or distributions will be paid in cash. Shares
underlying Restricted Stock Units shall not be entitled to dividends and other distributions, and shall be entitled to Dividend Equivalents only to the extent provided by the Committee. Notwithstanding anything herein to the contrary, in no event
will dividends or Dividend Equivalents be paid during the performance period with respect to unearned Awards of Restricted Stock or Restricted Stock Units that are subject to performance-based vesting criteria. Dividends or Dividend Equivalents
accrued on such shares shall become payable no earlier than the date the performance-based vesting criteria have been achieved and the underlying shares or Restricted Stock Units have been earned. 

 

	11.	 INCENTIVE BONUSES. 

 

	 	(a)	 Payment Criteria. The Committee shall establish the performance criteria and level of achievement versus
these criteria, or such other criteria (which need not be performance-based), that shall determine the amount payable under an Incentive Bonus, which may include a target, threshold and/or maximum amount payable and any formula for determining such
achievement, and which criteria may be based on performance conditions. 

  

	 	(b)	 Timing and Form of Payment. The Committee shall determine the timing of payment of any Incentive Bonus.
Payment of the amount due under an Incentive Bonus may be made in cash, Common Stock, Restricted Stock, Restricted Stock Units or other Awards, as determined by the Committee. 

 

	 	(c)	 Discretionary Adjustments. Notwithstanding satisfaction of any performance goals, the amount paid under
an Incentive Bonus on account of either financial performance or personal performance evaluations may be adjusted by the Committee on the basis of such further considerations as the Committee shall determine. 

 

	12.	 DEFERRAL OF PAYMENT. The Committee may, in an Award Agreement or otherwise, provide for the
deferred delivery of Common Stock or cash upon settlement, vesting or other events with respect to Restricted Stock Units, or in payment or satisfaction of an Incentive Bonus. No Award shall provide for deferral of compensation that is not intended
to comply with or be exempt from Section 409A of the Code; provided, however, that the Company, the Board and the Committee shall have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or
compliant with, Section 409A of the Code is not so exempt or compliant or for any action taken by the Board or the Committee. 

  
 8 

	13.	 CONDITIONS AND RESTRICTIONS UPON SECURITIES SUBJECT TO AWARDS. The Committee may provide that the
Common Stock subject to or issued under an Award shall be subject to such further agreements, restrictions, conditions or limitations as the Committee in its discretion may specify prior to the grant, vesting, exercise or settlement of such Award,
including without limitation, conditions on vesting or transferability, forfeiture or repurchase provisions and method of payment for the Common Stock issued upon exercise, vesting or settlement of such Award (including the actual or constructive
surrender of Common Stock already owned by the Participant) or payment of taxes arising in connection with an Award. Without limiting the foregoing, such restrictions may address the timing and manner of any resales by the Participant or other
subsequent transfers by the Participant of any shares of Common Stock issued under an Award, including without limitation (i) restrictions under an insider trading policy or pursuant to applicable law, (ii) restrictions designed to delay
and/or coordinate the timing and manner of sales by the Participant and holders of other Company equity compensation arrangements, (iii) restrictions as to the use of a specified brokerage firm for such resales or other transfers,
(iv) provisions requiring Common Stock be sold on the open market or to the Company in order to satisfy tax withholding or other obligations and (v) mandatory holding periods. 

 

	14.	 ADJUSTMENT OF AND CHANGES IN THE STOCK. 

 

	 	(a)	 In the event of any dividend (excluding ordinary dividends) or other distribution (whether in the form of cash,
shares of Common Stock, other securities or property), recapitalization, stock split, reverse stock split, rights offering, reorganization, split-up, spin-off, split-off, subdivision, combination, repurchase or exchange of shares of Common Stock or other securities of the Company, issuance of warrants or other rights to purchase shares of Common Stock or other securities
of the Company, or other similar corporate transaction or event that affects the fair value of an Award, the Committee shall make appropriate adjustments to (i) the number and kind of shares of Common Stock available for issuance under this
Plan (including under any Awards then outstanding), (ii) the number and kind of shares of Common Stock subject to the limits set forth in Section 5 of this Plan, and (iii) the exercise price of each outstanding Option
or Stock Appreciation Right, or the purchase price, if any, of any other outstanding Award under the Plan; provided, however, such adjustments shall be made in accordance with the applicable provisions of Section 422 of the Code or
Section 409A of the Code. No fractional shares of Common Stock shall be issued pursuant to such an adjustment. 

  

	 	(b)	 In the event that the Company is a party to a merger, consolidation or other similar corporate transaction,
outstanding Awards shall be subject to the terms of such transaction agreement. Such agreement, without the Participants’ consent, may provide for: 

  

	 	(i)	 the continuation or assumption of such outstanding Awards under the Plan by the Company (if it is the surviving
corporation) or by the surviving corporation or its parent; 

  

	 	(ii)	 the substitution by the surviving corporation or its parent of stock awards with economically neutral terms for
such outstanding Awards; 

  

	 	(iii)	 the acceleration of the vesting of or right to exercise such outstanding Awards immediately prior to the
merger, consolidation or transaction, and the expiration of such outstanding Awards to the extent not timely exercised or purchased by the date of the merger or consolidation or other date thereafter designated by the Committee;

  
 9 

	 	(iv)	 the cancellation of all or any portion of such outstanding Awards by a cash payment of the excess, if any, of
the Fair Market Value of the shares of Common Stock subject to such outstanding Awards or portion thereof being canceled over the exercise price (if any) with respect to such Awards or portion thereof being canceled; or 

 

	 	(v)	 any other treatment of outstanding Awards that the Committee determines is economically neutral for
Participants. 

  

	 	(c)	 The Company shall notify Participants holding Awards subject to any adjustments pursuant to this
Section 14 of such adjustment, but (whether or not notice is given) such adjustment shall be effective and binding for all purposes of the Plan. 

 

	15.	 TRANSFERABILITY. Awards granted hereunder may not be sold, transferred for value, pledged,
assigned, or otherwise alienated or hypothecated by a Participant other than by will or the laws of descent and distribution, and each Option or Stock Appreciation Right shall be exercisable only by the Participant during his or her lifetime.
Notwithstanding the foregoing, outstanding Options may be exercised following the Participant’s death by the Participant’s beneficiaries or as permitted by the Committee. 

 

	16.	 COMPLIANCE WITH LAWS AND REGULATIONS. This Plan, the grant, issuance, vesting, exercise and
settlement of Awards hereunder, and the obligation of the Company to sell, issue or deliver shares of Common Stock under such Awards, shall be subject to all applicable foreign, federal, state and local laws, rules and regulations, stock exchange
rules and regulations, and to such approvals by any governmental or regulatory agency as may be required. The Company shall not be required to register in a Participant’s name or deliver Common Stock prior to the completion of any registration
or qualification of such shares under any foreign, federal, state or local law or any ruling or regulation of any government body which the Committee shall determine to be necessary or advisable. To the extent the Company is unable to or the
Committee deems it infeasible to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any shares of Common Stock hereunder, the
Company and its Subsidiaries shall be relieved of any liability with respect to the failure to issue or sell such shares of Common Stock as to which such requisite authority shall not have been obtained. No Option shall be exercisable and no Common
Stock shall be issued and/or transferable under any other Award unless a registration statement with respect to the Common Stock underlying such Option is effective and current or the Company has determined that such registration is unnecessary.

 In the event an Award is granted to or held by a Participant who is employed or providing services outside the United
States, the Committee may, in its sole discretion, modify the provisions of the Plan or of such Award as they pertain to such individual to comply with applicable foreign law or to recognize differences in local law, currency or tax policy. The
Committee may also impose conditions on the grant, issuance, exercise, vesting, settlement or retention of Awards in order to comply with such foreign law and/or to minimize the Company’s obligations with respect to tax equalization for
Participants employed outside their home country. 
  

	17.	 WITHHOLDING. To the extent required by applicable federal, state, local or foreign law, the
Committee may and/or a Participant shall make arrangements satisfactory to the Company for the satisfaction of any withholding tax obligations that arise with respect to any Award. The Company shall not be required to recognize any Participant
rights under an Award, to issue shares of Common Stock or to recognize the disposition of such shares of Common Stock until such obligations are satisfied. To the extent permitted or required by the Committee, these obligations may or shall be
satisfied by the Company withholding cash from any compensation otherwise payable to or for the benefit of a Participant, the Company withholding a portion of the shares of Common Stock that otherwise would be issued to a Participant under such
Award or any other award held by the Participant, or by the Participant tendering to the Company cash or, if allowed by the Committee, shares of Common Stock. 

  
 10 

	18.	 AMENDMENT OF THE PLAN OR AWARDS. The Board may amend, alter or discontinue this Plan and the
Committee may amend, or alter any Award Agreement, but, except as provided pursuant to the provisions of Section 14, no such amendment shall, without the approval of the stockholders of the Company: 

 

	 	(a)	 increase the maximum number of shares of Common Stock for which Awards may be granted under this Plan;

  

	 	(b)	 reduce the price at which Options may be granted below the price provided for in Section 8(a);

  

	 	(c)	 reprice outstanding Options or Stock Appreciation Rights as described in 8(b) and 9(b); 

 

	 	(d)	 extend the term of this Plan; 

 

	 	(e)	 change the class of persons eligible to be Participants; 

 

	 	(f)	 increase the maximum limit in Section 5(c); or 

 

	 	(g)	 otherwise amend the Plan in any manner requiring stockholder approval by law or the rules of any stock exchange
or market or quotation system on which the Common Stock is traded, listed or quoted. 

 No amendment or alteration to the
Plan or an Award or Award Agreement shall be made which would materially impair the rights of the holder of an Award, without such holder’s consent, provided that no such consent shall be required if the Committee determines in its sole
discretion that such amendment or alteration either (i) is required or advisable in order for the Company, the Plan or the Award to satisfy any law or regulation or to meet the requirements of or avoid adverse financial accounting consequences
under any accounting standard, or (ii) is not reasonably likely to significantly diminish the benefits provided under such Award, or that any such diminishment has been adequately compensated. 

 

	19.	 NO LIABILITY OF COMPANY. The Company, any Subsidiary or Affiliate which is in existence or
hereafter comes into existence, the Board and the Committee shall not be liable to a Participant or any other person as to: (a) the non-issuance or sale of shares of Common Stock as to which the Company
has been unable to obtain from any regulatory body having jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any shares of Common Stock hereunder; and (b) any tax consequence
expected, but not realized, by any Participant or other person due to the receipt, exercise or settlement of any Award granted hereunder. 

  

	20.	 NON-EXCLUSIVITY OF PLAN. Neither the adoption of this
Plan by the Board nor the submission of this Plan to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board or the Committee to adopt such other incentive arrangements as either may deem
desirable. 

  
 11 

	21.	 GOVERNING LAW. This Plan and any agreements or other documents hereunder shall be interpreted and
construed in accordance with the laws of the State of Delaware and applicable federal law. Any reference in this Plan or in any Award Agreement to a provision of law or to a rule or regulation shall be deemed to include any successor law, rule or
regulation of similar effect or applicability. 

  

	22.	 NO RIGHT TO EMPLOYMENT, REELECTION OR CONTINUED SERVICE. Nothing in this Plan or an Award Agreement
shall interfere with or limit in any way the right of the Company, its Subsidiaries and/or its Affiliates to terminate any Participant’s employment, service on the Board or service for the Company at any time or for any reason not prohibited by
law, nor shall this Plan or an Award itself confer upon any Participant any right to continue his or her employment or service for any specified period of time. Neither an Award nor any benefits arising under this Plan shall constitute an employment
contract with the Company, any Subsidiary and/or its Affiliates. Subject to Sections 4 and 18, this Plan and the benefits hereunder may be terminated at any time in the sole and exclusive discretion of the Board without giving rise to
any liability on the part of the Company, its Subsidiaries and/or its Affiliates. 

  

	23.	 SECTION 409A COMPLIANCE. Unless otherwise expressly provided for in an Award Agreement, or other
agreement between the Participant and the Company, the Plan and Award Agreements will be interpreted to the greatest extent possible in a manner that makes the Plan and the Awards granted hereunder exempt from Section 409A of the Code, to the
extent that Section 409A of the Code is applicable to an Award, and, to the extent not so exempt, in compliance with Section 409A of the Code. If the Committee determines that any Award granted hereunder is subject to Section 409A of
the Code, the Award Agreement evidencing such Award will incorporate the terms and conditions necessary to avoid the consequences specified in Section 409A(a)(1) of the Code, and to the extent an Award Agreement is silent on terms necessary for
compliance, such terms are hereby incorporated by reference into the Award Agreement. Notwithstanding anything to the contrary in this Plan (and unless the Award Agreement specifically provides otherwise), if the shares of Common Stock are publicly
traded, and if a Participant holding an Award that constitutes “deferred compensation” under Section 409A of the Code is a “specified employee” for purposes of Section 409A of the Code and the Participant is otherwise
subject to Section 409A of the Code, no distribution or payment of any amount that is due because of a “separation from service” (as defined in Section 409A of the Code without regard to alternative definitions thereunder) will
be issued or paid before the date that is six (6) months following the date of such Participant’s “separation from service” or, if earlier, the date of the Participant’s death, unless such distribution or payment can be made
in a manner that complies with Section 409A of the Code, and any amounts so deferred will be paid in a lump sum on the day after such six (6) month period elapses, with the balance paid thereafter on the original schedule.

  

	24.	 NO LIABILITY OF COMMITTEE MEMBERS. No member of the Committee shall be personally liable by
reason of any contract or other instrument executed by such member or on his behalf in his capacity as a member of the Committee nor for any mistake of judgment made in good faith, and the Company shall indemnify and hold harmless each member of the
Committee and each other employee, officer or director of the Company to whom any duty or power relating to the administration or interpretation of the Plan may be allocated or delegated, against any cost or expense (including counsel fees) or
liability (including any sum paid in settlement of a claim) arising out of any act or omission to act in connection with the Plan unless arising out of such person’s own fraud or willful bad faith; provided, however, that approval of the Board
shall be required for the payment of any amount in settlement of a claim against any such person. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the
Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 

  
 12 

	25.	 SEVERABILITY. If any provision of the Plan or any Award is or becomes or is deemed to be invalid,
illegal, or unenforceable in any jurisdiction or as to any person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable
laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, person or Award and the remainder
of the Plan and any such Award shall remain in full force and effect. 

  

	26.	 UNFUNDED PLAN. The Plan is intended to be an unfunded plan. Participants are and shall at all
times be general creditors of the Company with respect to their Awards. If the Committee or the Company chooses to set aside funds in a trust or otherwise for the payment of Awards under the Plan, such funds shall at all times be subject to the
claims of the creditors of the Company in the event of its bankruptcy or insolvency. 

  
 13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00323-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00323-of-00352.parquet"}]]