Document:

Exhibit 10.4

 

SPONSOR VOTING AGREEMENT

 

This Voting Agreement (this
“Agreement”) is made as of November 21, 2022, by and among (i) NEXT Renewable Fuels, Inc., a Delaware
corporation (the “Company”), (ii) Industrial Tech Acquisitions II, Inc., a Delaware corporation (together
with its successors, “Purchaser”), and (iii) the undersigned stockholder of Purchaser (“Holder”).
Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement (as defined
below).

 

WHEREAS, on or about
the date hereof, (i) the Purchaser, (ii) ITAQ Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of the Purchaser (“Merger
Sub”), and (iii) the Company entered into that certain Agreement and Plan of Merger (as amended from time to time in accordance
with the terms thereof, the “Merger Agreement”), pursuant to which, upon the consummation of the transactions
contemplated by the Merger Agreement (the “Closing”), (a) Merger Sub will merge with and into the Company (the
“Merger”), with the Company surviving as the surviving entity (the “Surviving Corporation”)
and a wholly-owned subsidiary of Purchaser, and (ii) the Company Security Holders will receive Merger Consideration, in each case upon
the terms and subject to the conditions set forth in the Merger Agreement (such transactions, together with the other transactions contemplated
by the Merger Agreement, the “Transactions”), all upon the terms and subject to the conditions set forth in
the Merger Agreement and in accordance with the applicable provisions of the DGCL;

 

WHEREAS, as of the
date hereof, the Holder is the record and beneficial owner (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934,
as amended (together with the rules and regulations promulgated thereunder, the “Exchange Act”)) of and is entitled
to dispose of and vote the Purchaser Common Stock set forth on the signature page of this Agreement which shares and any additional Purchaser
Common Stock (or any securities convertible into or exercisable or exchangeable for Purchaser Common Stock) in which the Holder acquires
record or beneficial ownership after the date hereof, including by purchase, as a result of a share dividend, share split, recapitalization,
combination, reclassification, exchange or change of such shares, or upon exercise or conversion of any securities, the “Shares”);

 

WHEREAS, the Board
of Directors of Purchaser has (a) approved and declared advisable the Transactions, (b) determined that the Transactions are fair to and
in the best interests of Purchaser and its stockholders (the “Purchaser Stockholders”) and (c) recommended the
approval and the adoption by each of Purchaser Stockholders of the Merger Agreement, the Merger, the Ancillary Documents, the Transactions
and the other Required Purchaser Stockholder Approval Matters; and

 

WHEREAS, as a condition
to the willingness of the Company to enter into the Merger Agreement, and as an inducement and in consideration therefor, and in view
of the valuable consideration to be received by Holder thereunder, and the expenses and efforts to be undertaken by the Company and Purchaser
to consummate the Transactions, the Company, Purchaser and Holder desire to enter into this Agreement in order for Holder to provide certain
assurances to the Company regarding the manner in which Holder is bound hereunder, in its capacity as a stockholder of Purchaser, to vote
the Shares during the period from and including the date hereof through and including the date on which this Agreement is terminated in
accordance with its terms (the “Voting Period”) with respect to the Merger Agreement, the Merger, the Ancillary
Documents and the Transactions.

 

     

     

    

 

NOW, THEREFORE, in
consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending to
be legally bound hereby, the parties hereby agree as follows:

 

1. Covenant to
Vote in Favor of Transactions. Holder agrees, with respect to all of the Shares, during the Voting Period, the Holder
will:

 

(a) at each meeting of the Purchaser
Stockholders or any class or series thereof, and in each written consent or resolutions of any of the Purchaser Stockholders in which
Holder is entitled to vote or consent, Holder hereby unconditionally and irrevocably agrees to be present for such meeting and vote (in
person or by proxy), or consent to any action by written consent or resolution with respect to, as applicable, the Shares (A) in favor
of: (i) the adoption and approval of this Agreement and the Transactions, (ii) the approval of the Amended Purchaser Charter, (iii) such
other matters as the Company and Purchaser shall hereafter mutually determine to be necessary or appropriate in order to effect the Transactions,
and (iv) the adjournment of the Purchaser Special Meeting, if necessary or desirable in the reasonable determination of Purchaser and
(B) to vote the Shares in opposition to: (i) any Acquisition Proposal and (ii) any other action or proposal involving Purchaser that is
intended, or would reasonably be expected, to prevent, impede, interfere with, delay, postpone or adversely affect in any material respect
the Transactions or would reasonably be expected to result in any of the conditions to the Closing under the Merger Agreement not being
fulfilled;

 

(b) to execute and deliver all
related documentation and take such other action in support of the Merger, the Merger Agreement, any Ancillary Documents and any of the
Transactions as shall reasonably be requested by the Company or Purchaser in order to carry out the terms and provision of this Section
1, including, without limitation, (i) any actions by written consent of Purchaser Stockholders presented to Holder with respect to
the matters in Section 1(a), and (ii) any applicable Ancillary Documents, and any consent, waiver, governmental filing, and any
similar or related documents;

 

(c) not to deposit, and to cause
its Affiliates not to deposit, except as provided in this Agreement, any Shares owned by Holder or his/her/its Affiliates in a voting
trust or subject any Shares to any arrangement or agreement with respect to the voting of such Shares, unless specifically requested to
do so by Purchaser and the Company in connection with the Merger Agreement, the Ancillary Documents and any of the Transactions; and

 

(d) except as contemplated by
the Merger Agreement or the Ancillary Documents, not make, or in any manner participate in, directly or indirectly, a “solicitation”
of “proxies” or consents (as such terms are used in the rules of the SEC) or powers of attorney or similar rights to vote,
or seek to advise or influence any Person with respect to the voting of, any shares of the Company capital stock in connection with any
vote or other action with respect to the Transactions, other than to recommend that stockholders of Purchaser vote in favor of adoption
of the Merger Agreement and the Transactions and any other proposal the approval of which is a condition to the obligations of the Company
or Purchaser under the Merger Agreement (and any actions required in furtherance thereof and otherwise as expressly provided by Section
1 of this Agreement).

 

2. Grant of Proxy. During
the Voting Period, Holder, with respect to all of the Shares, hereby irrevocably grants to, and appoints, Purchaser and any designee of
Purchaser (determined in Purchaser’s sole discretion) as Holder’s attorney-in-fact and proxy, with full power of substitution
and resubstitution, for and in Holder’s name, to vote, or cause to be voted (including by proxy or written consent, if applicable)
any Shares owned (whether beneficially or of record) by Holder, solely on the matters and in the manner specified in Section 1
above. The proxy and attorney-in-fact granted by Holder pursuant to this Section 2 are irrevocable and are granted in
consideration of Purchaser entering into this Agreement and the Company and Purchaser entering into the Merger Agreement and incurring
certain related fees and expenses. Holder hereby affirms that such irrevocable proxy is coupled with an interest by reason of the Merger
Agreement and, except upon the termination of this Agreement in accordance with Section 5(a), is intended to be irrevocable.
The proxy and power of attorney granted hereunder shall terminate upon the termination of this Agreement. Holder and Purchaser each agrees
that Purchaser shall exercise (and shall not fail to exercise) its rights as attorney-in-fact and proxy in accordance with the provisions
of Section 1 of this Agreement.

 

    2

     

    

 

3. Other
Covenants.

 

(a) No Transfers.
Holder agrees that during the Voting Period it shall not, and shall cause its Affiliates not to, without the joint written consent of
Purchaser and the Company, (A) offer for sale, sell (including short sales), transfer, tender, pledge, encumber, assign or otherwise dispose
of (including by gift) (collectively, a “Transfer”), or enter into any contract, option, derivative, hedging
or other agreement or arrangement or understanding (including any profit-sharing arrangement) with respect to, or consent to, a Transfer
of, any or all of the Shares; (B) grant any proxies or powers of attorney with respect to any or all of the Shares; or (C) permit to exist
any lien of any nature whatsoever (other than those imposed by this Agreement, applicable securities Laws or the Purchaser Organizational
Documents, as in effect on the date hereof) with respect to any or all of the Shares; or (D) take any action that would have the effect
of preventing, impeding, interfering with or adversely affecting Holder’s ability to perform its obligations under this Agreement.
Purchaser hereby agrees that it shall not permit any Transfer of the Shares in violation of this Agreement. Holder agrees with, and covenants
to, the Company and Purchaser that Holder shall not request that Purchaser register the Transfer (book-entry or otherwise) of any certificate
or uncertificated interest representing any Shares during the term of this Agreement without the prior written consent of the Company,
and Purchaser hereby agrees that it shall not effect any such Transfer.

 

(b) Permitted Transfers. Section
3(a) shall not prohibit a Transfer of Shares by Holder (i) to any family member or trust for the benefit of any family member,
(ii) to any stockholder, member or partner of Holder, if an entity, (iii) to any Affiliate of Holder, or (iv) to any person or entity
if and to the extent required by any non-consensual Order, by divorce decree or by will, intestacy or other similar Applicable Law so
long as, in the case of the foregoing clauses (i), (ii), (iii) and (iv), the assignee or transferee agrees to be bound by the terms of
this Agreement and executes and delivers to the parties hereto a written consent and joinder memorializing such agreement. During the
term of this Agreement, Purchaser will not register or otherwise recognize the transfer (book-entry or otherwise) of any Shares or any
certificate or uncertificated interest representing any of Holder’s Shares, except as permitted by, and in accordance with, this Section
3(b).

 

(c) Changes to Shares.
In the event of a share dividend or distribution, or any change in the share capital of Purchaser by reason of any share dividend or distribution,
share split, recapitalization, combination, conversion, exchange of shares or the like, the term “Shares” shall be deemed
to refer to and include the Shares as well as all such share dividends and distributions and any securities into which or for which any
or all of the Shares may be changed or exchanged or which are received in such transaction. Holder agrees, during the Voting Period, to
notify the Company and Purchaser promptly in writing of any changes in Holder’s ownership of Purchaser securities.

 

(d) Compliance with
Merger Agreement. Holder agrees that, during the Voting Period, Holder will not take or agree or commit to take any action that would
make any representation and warranty of Holder contained in this Agreement inaccurate in any material respect, except for transfers as
permitted by, and in accordance with, Section 3(b) above.

 

(e) Registration Statement.
During the Voting Period, Holder agrees to provide to Purchaser and its Representatives any information regarding Holder or the Shares
that is reasonably requested by the Purchaser or its Representatives for inclusion in the Registration Statement.

 

(f) Publicity. Holder
shall not issue any press release or otherwise make any public statements with respect to the Transactions or the transactions contemplated
herein without the prior written approval of Purchaser and the Company, unless such information was already made available publicly by
Purchaser or the Company. Nothing herein shall (a) restrict Holder’s right to furnish or disclose to its limited partners, members
or stockholders, any information with respect to the Transactions or the transactions contemplated herein or (b) grant Holder any right
to disclose information which Holder is prohibited from disclosing pursuant to a non-disclosure agreement. Holder understands that, prior
to the announcement by Purchaser and the Company, the Merger Agreement and related agreements and the terms thereof constitute material
non-public information and may not be used or disclosed by the Holder. Holder hereby authorizes Purchaser and the Company to publish and
disclose in any announcement or disclosure required by the SEC or Nasdaq (including all documents and schedules filed with the SEC in
connection with the foregoing), Holder’s identity and ownership of the Shares and the nature of Holder’s commitments and agreements
under this Agreement, the Merger Agreement and any other Ancillary Documents.

 

    3

     

    

 

4. Representations
and Warranties of Holder. Holder hereby represents and warrants to the Company as follows, except to the extent set forth in a
schedule delivered by Holder to the Company and Purchaser prior to the execution by the Holder of this Agreement:

 

(a) Binding Agreement.
Holder (i) if a natural person, is of legal age to execute this Agreement and is legally competent to do so and (ii) if not a natural
person, is (A) a corporation, limited liability company, company or partnership duly organized and validly existing under the laws of
the jurisdiction of its organization and (B) has all necessary power and authority to execute and deliver this Agreement, to perform its
obligations hereunder and to consummate the transactions contemplated hereby. If Holder is not a natural person, the execution and delivery
of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated hereby by Holder
has been duly authorized by all necessary corporate, limited liability or partnership action on the part of Holder, as applicable. This
Agreement, assuming due authorization, execution and delivery hereof by the other parties hereto, constitutes a legal, valid and binding
obligation of Holder, enforceable against Holder in accordance with its terms (except as such enforceability may be limited by bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of general applicability relating to or affecting creditor’s
rights, and to general equitable principles). Holder understands and acknowledges that the Company is entering into the Merger Agreement
in reliance upon the execution and delivery of this Agreement by Holder.

 

(b) Ownership of Shares.
As of the date hereof, Holder has beneficial ownership over the type and number of the Shares set forth under Holder’s name on the
signature page hereto, is the lawful owner of such Shares, has the sole power to vote or cause to be voted such Shares, and has good and
valid title to such Shares, free and clear of any and all pledges, mortgages, encumbrances, charges, proxies, voting agreements, liens,
adverse claims, options, security interests and demands of any nature or kind whatsoever, other than those imposed by this Agreement,
applicable securities Laws or Purchaser Organizational Documents, as in effect on the date hereof. There are no claims for finder’s
fees or brokerage commission or other like payments in connection with this Agreement or the transactions contemplated hereby payable
by the Company or Purchaser pursuant to arrangements made by Holder. Except for the Shares and other securities of Purchaser set forth
under Holder’s name on the signature page hereto, as of the date of this Agreement, Holder is not a beneficial owner or record holder
of any: (i) equity securities of Purchaser, (ii) securities of Purchaser having the right to vote on any matters on which the holders
of equity securities of Purchaser may vote or which are convertible into or exchangeable for, at any time, equity securities of Purchaser
or (iii) options, warrants or other rights to acquire from Purchaser any equity securities or securities convertible into or exchangeable
for equity securities of Purchaser.

 

(c) No Conflicts.
Other than the filings, notices and reports pursuant to, in compliance with or required to be made under the Exchange Act, if any, no
filing with, or notification to, any Governmental Authority, and no consent, approval, authorization or permit of any other person is
necessary for the execution of this Agreement by Holder, the performance of its obligations hereunder or the consummation by it of the
transactions contemplated hereby, which, if required, has not been obtained prior to the date hereof. None of the execution and delivery
of this Agreement by Holder, the performance of its obligations hereunder or the consummation by it of the transactions contemplated hereby
shall (i) conflict with or result in any breach of the certificate of incorporation, bylaws or other comparable organizational documents
of Holder, if applicable, (ii) result in, or give rise to, a violation or breach of or a default under any of the terms of any Contract
or obligation to which Holder is a party or by which Holder or any of the Shares or its other assets may be bound, or (iii) violate any
applicable Law or Order, except for any of the foregoing in clauses (i) through (iii) as would not reasonably be expected to impair Holder’s
ability to perform its obligations under this Agreement in any material respect.

 

(d) No Inconsistent
Agreements. Holder hereby covenants and agrees that, except for this Agreement, Holder (i) has not entered into, nor will enter into
at any time while this Agreement remains in effect, any voting agreement or voting trust with respect to the Shares inconsistent with
Holder’s obligations pursuant to this Agreement, (ii) has not granted, nor will grant at any time while this Agreement remains in
effect, a proxy, a consent or power of attorney with respect to the Shares and (iii) has not entered into any agreement or knowingly taken
any action (nor will enter into any agreement or knowingly take any action) that would make any representation or warranty of Holder contained
herein untrue or incorrect in any material respect or have the effect of preventing Holder from performing any of its material obligations
under this Agreement. Notwithstanding anything to the contrary contained in this Agreement, Purchaser and the Company hereby acknowledge
that the Shares are subject to certain transfer restrictions and voting obligations (consistent with the obligations under this Agreement)
under the letter agreement, dated January 11, 2022 (the “Insider Letter”), among Purchaser, Holder and other
parties thereto.

 

    4

     

    

 

5. Miscellaneous.

 

(a) Termination.
Notwithstanding anything to the contrary contained herein, this Agreement shall automatically terminate, and none of the Company, Purchaser
or Holder shall have any rights or obligations hereunder, upon the earliest to occur of (i) the mutual written consent of the Company,
Purchaser and Holder, (ii) the Effective Time (following the performance of the obligations of the parties hereunder required to be performed
at or prior to the Effective Time), (iii) the date of termination of the Merger Agreement in accordance with its terms, (iv) at the election
of Holder, any amendment to the Merger Agreement or any waiver of any provision of the Merger Agreement which amendment or waiver is adverse
to Holder in a manner disproportionate to the other Purchaser Stockholders as a whole and which has not been approved by the Board of
Directors of Purchaser, and (v) if the Outside Date is extended for a period of more than thirty (30) days unless such further extension
has received the approval of the Board of Directors of Purchaser. The termination of this Agreement shall not prevent any party hereunder
from seeking any remedies (at law or in equity) against another party hereto or relieve such party from liability for such party’s
material breach of, or fraud committed in connection with, this Agreement prior to such termination. Notwithstanding anything to the contrary
herein, the provisions of this Section 5(a) shall survive the termination of this Agreement. 

 

(b) Binding Effect;
Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and
their respective permitted successors and assigns. Except for transfers as permitted by, and in accordance with, Section 3(b) above,
this Agreement and all obligations of Holder are personal to Holder and may not be assigned, transferred or delegated by Holder at any
time without the prior written consent of the Company and Purchaser, and any purported assignment, transfer or delegation without such
consent shall be null and void ab initio.

 

(c) Third Parties.
Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the transactions contemplated
hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person that is not a party hereto or thereto
or a successor or permitted assign of such a party.

 

(d) Governing Law; Jurisdiction.
This Agreement and any dispute or controversy arising out of or relating to this Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware, without regard to the conflict of law principles thereof. All Actions arising out of or relating
to this Agreement shall be heard and determined exclusively in any state or federal court located in the State of Delaware (or in any
appellate courts thereof) (the “Specified Courts”). Each party hereto hereby (i) submits to the exclusive
jurisdiction of any Specified Court for the purpose of any Action arising out of or relating to this Agreement brought by any party hereto
and (ii) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any such Action, any claim that
it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution,
that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions
contemplated hereby may not be enforced in or by any Specified Court. Each party agrees that a final judgment in any Action shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents
to the service of the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated
by this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth or referred to in Section 5(h). Nothing in this Section 5(d) shall affect the right of
any party to serve legal process in any other manner permitted by applicable law.

 

(e) WAIVER OF JURY
TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
5(e).

 

    5

     

    

 

(f) Interpretation.
The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting this
Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used shall include the corresponding masculine, feminine
or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (ii) the term “including”
(and with correlative meaning “include”) shall be deemed in each case to be followed by the words “without limitation”;
(iii) the words “herein,” “hereto,” and “hereby” and other words of similar import shall be deemed
in each case to refer to this Agreement as a whole and not to any particular section or other subdivision of this Agreement; and (iv)
the term “or” means “and/or”. The parties have participated jointly in the negotiation and drafting of this Agreement.
Consequently, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted
jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provision of this Agreement.

 

(g) Capacity as a Purchaser
Stockholder. Holder signs this Agreement solely in Holder’s capacity as a stockholder of Purchaser, and not in Holder’s
capacity as a director, officer or employee of Purchaser. Notwithstanding anything herein to the contrary, nothing herein shall in any
way restrict a director or officer of Purchaser in the exercise of his or her fiduciary duties as a director or officer of Purchaser or
prevent or be construed to create any obligation on the part of any director or officer of Purchaser from taking any action in his or
her capacity as such director or officer.

 

(h) Notices. All
notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given (i) when
delivered in person, (ii) by email or other electronic means, with affirmative confirmation of receipt, (iii) one Business Day after being
sent, if sent by reputable, nationally recognized international overnight courier service or (iv) five (5) Business Days after being mailed,
if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable party at the following
addresses (or at such other address for a party as shall be specified by like notice):

 

	If to Purchaser:	 	with a copy (which will not constitute notice) to:
	 	 	 
	Industrial Tech Acquisitions II, Inc.	 	Ellenoff Grossman & Schole LLP
	5090 Richmond Ave, Suite 319	 	1345 Avenue of the Americas, 11th Floor
	Houston, Texas, 77056	 	New York, New York 10105
	Attn:	 R. Greg Smith, CFO	 	Attn:	Richard I. Anslow, Esq. (ext. 7194)             
	Telephone: (713) 599-1300	 	 	Asher S. Levitsky P.C. (ext. 7152)
	Email: 	greg@texasventures.com	 	Telephone No.: (212) 370-1300
	 	 	Email:	ranslow@egsllp.com
	 	 	 	alevitsky@egsllp.com
	 	 	 
	If to the Company:	 	with a copy (which will not constitute notice) to:
	 	 	 
	NEXT Renewable Fuels, Inc.	 	ArentFox Schiff LLP
	11767 Katy Freeway	 	1717 K Street NW
	Suite 700	 	Washington, DC 20006
	Houston, Texas 77079	 	Attn:	  Ralph De Martino, Esq.
	Attn:	 Chris Efird, CEO, and	 	Nick Tipsord, Esq.
	 	David Kane, CFO	 	Telephone No.: 202.724.6848
	Telephone No.: 281.541.7311	 	 
	Email: 	chris@nextrenewables.com	 	Email:	 Ralph.DeMartino@afslaw.com
	 	david@nextrenewables.com	 	 	Nick.Tipsord@afslaw.com

	If to Holder, to: the address set forth under Holder’s name on the signature page hereto, with a copy (which will not constitute notice) to sneuhauser@egsllp.com, if not the party sending the notice, each of Purchaser and the Company (and each of their copies for notices hereunder).

 

    6

     

    

 

(i) Amendments and Waivers.
Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular
instance, and either retroactively or prospectively) only, in the case of an amendment, with the written consent of the Company, Purchaser
and the Holder, or, in the case of a waiver, with the written consent of the party against whom the waiver is to be effective. No failure
or delay by a party in exercising any right hereunder shall operate as a waiver thereof. No waivers of or exceptions to any term, condition,
or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a waiver of any other provisions hereof
by such party, nor shall any such waiver be deemed to be or construed as a further or continuing waiver of any such term, condition, or
provision.

 

 (j) Severability. In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable, and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.

 

(k) Specific Performance.
Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event of a breach of this
Agreement by Holder, money damages will be inadequate and that the Company will not have adequate remedy at law, and agrees that irreparable
damage would occur in the event that any of the provisions of this Agreement were not performed by Holder in accordance with their specific
terms or were otherwise breached. Accordingly, the Company shall be entitled to an injunction or restraining order to prevent breaches
of this Agreement by Holder and to enforce specifically the terms and provisions hereof, without the requirement to post any bond or other
security or to prove that money damages would be inadequate, this being in addition to any other right or remedy to which such party may
be entitled under this Agreement, at law or in equity.

 

(l) Expenses. Each
party shall be responsible for its own fees and expenses (including the fees and expenses of investment bankers, accountants and counsel,
if applicable) in connection with the entering into of this Agreement, the performance of its obligations hereunder and the consummation
of the transactions contemplated hereby; provided, that in the event of any Action arising out of or relating to this Agreement, the non-prevailing
party in any such Action will pay its own expenses and the reasonable documented out-of-pocket expenses, including reasonable attorneys’
fees and costs, reasonably incurred by the prevailing party.

 

(m) No Partnership,
Agency or Joint Venture. This Agreement is intended to create a contractual relationship among Holder, Purchaser and the Company,
and is not intended to create, and does not create, any agency, partnership, joint venture or any like relationship among the parties
hereto or among any other Purchaser stockholders entering into voting agreements with Purchaser or the Company. Holder has acted independently
regarding its decision to enter into this Agreement. Nothing contained in this Agreement shall be deemed to vest in Purchaser or the Company
any direct or indirect ownership or incidence of ownership of or with respect to any Shares. All rights, ownership and economic benefits
of Holder in and relating to the Shares of the Holder shall remain vested in and belong to the Holder, and the Company shall have no authority
to manage, direct, restrict, regulate, govern or administer any of the policies or operations of Purchaser or exercise any power or authority
to direct the Holder in the voting or disposition of any of the Shares, except as otherwise provided herein.

 

    7

     

    

 

(n) Further Assurances.
From time to time, at another party’s request and without further consideration, each party shall execute and deliver such additional
documents and take all such further action as may be reasonably necessary or desirable to consummate the transactions contemplated by
this Agreement.

 

(o) Entire Agreement.
This Agreement (together with the Merger Agreement and the Insider Letter to the extent referred to herein) constitutes the full and entire
understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating
to the subject matter hereof existing between the parties is expressly canceled; provided, that, for the avoidance of doubt,
the foregoing shall not affect the rights and obligations of the parties under the Merger Agreement, any Ancillary Document or the Insider
Letter. Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies of Purchaser or the Company
or any of the obligations of Holder under any other agreement between Holder and Purchaser or the Company or any certificate or instrument
executed by Holder in favor of Purchaser or the Company, and nothing in any other agreement, certificate or instrument shall limit any
of the rights or remedies of Purchaser or the Company or any of the obligations of Holder under this Agreement.

 

(p) Counterparts; Facsimile.
This Agreement may also be executed and delivered by facsimile or electronic signature or by email in portable document format in two
or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

(q) Non-Recourse.
This Agreement may only be enforced against, and any claim or cause of action based upon, arising out of, or related to this Agreement
or the transactions contemplated hereby may only be brought against, the entities that are expressly named as parties hereto, and then
only with respect to the specific obligations set forth herein with respect to such party. Except to the extent a named party to this
Agreement (and then only to the extent of the specific obligations undertaken by such named party in this Agreement), (a) no past, present
or future director, officer, employee, incorporator, member, partner, stockholder, affiliate, agent, attorney, advisor or representative
or affiliate of any named party to this Agreement and (b) no past, present or future director, officer, employee, incorporator, member,
partner, stockholder, affiliate, agent, attorney, advisor or representative or affiliate of any of the foregoing shall have any liability
(whether in contract, tort, equity or otherwise) for any one or more of the representations, warranties, covenants, agreements or other
obligations or liabilities of any one or more of Purchaser, the Company or the Holder under this Agreement of or for any claim based on,
arising out of, or related to this Agreement or the transactions contemplated hereby provided that such other person does not take or
direct or cause Holder to take any action in contravention of the Holder’s obligations under this Agreement.

 

[Remainder of Page Intentionally Left Blank;
Signature Page Follows]

 

    8

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Voting Agreement as of the date first written above.

 

	 	Company:
	 	 
	 	NEXT Renewable Fuels, Inc.
	 	 	 
	 	By:	/s/ Chris Efird
	 	Name: 	Chris Efird
	 	Title:	CEO

 

{Signature Page to Sponsor Voting Agreement}

 

     

     

    

  

	 	Purchaser:
	 	 
	 	Industrial Tech Acquisitions II, Inc.
	 	 	 
	 	By:	/s/ R. Greg Smith
	 	Name: 	R. Greg Smith
	 	Title:	CFO

 

{Signature Page to Sponsor Voting Agreement}

 

     

     

    

 

	Holder:	 
	 	 
	
    Industrial Tech Partners II, LLC

     
	 
	By:	/s/ E. Scott Crist   	 
	Name: 	E. Scott Crist   	 
	Title:	
    Individually1 and as Managing Member of

    Industrial Tech Partners II, LLC.
	 

 

	Number and Type of Shares:	 
	 	 
	Purchaser Class A Common Stock:          0         	 
	 	 
	Purchaser Class B Common Stock: 4,312,500	 
	 	 
	Purchaser warrants or other securities
convertible into Purchaser securities: 8,037,500	 
	 	 
	Address for Notice:	 
	 	 
	Address: c/o Industrial Tech Acquisitions II, Inc.	 
	5090 Richmond Ave, Suite 319,	 
	Houston, Texas 77056.	 
	 	 
	Telephone No.:	 (713) 599-1300	 
	Email: scott@texasventures.com	 

 

{Holder Signature Page to Sponsor Voting
Agreement}Exhibit 10.1

  

  

  

  
    GREAT ELM GROUP, INC.

      AMENDED AND RESTATED

    2016 LONG-TERM INCENTIVE COMPENSATION PLAN

     

    (AS AMENDED, EFFECTIVE NOVEMBER 21, 2022)

     

    
      
        

    

    
    GREAT ELM GROUP, INC.

      AMENDED AND RESTATED

    2016 LONG-TERM INCENTIVE COMPENSATION PLAN

     

    	1.	
            ESTABLISHMENT; PURPOSES; AND DURATION

          

     

    	1.1	
            Establishment of the Plan.  The Plan permits the grant of Non-Qualified
              Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units, Performance Shares, Cash-Based Awards and Other Stock-Based Awards.  Following adoption of the Plan by the Board
              of Directors, the Plan shall become effective upon the date on which the Plan is approved by holders of a majority of the Company’s outstanding shares of common stock, which approval must occur within the period ending twelve months after the
              date the Plan is adopted by the Board.  The Plan shall remain in effect as provided in Section 1.3.

          

     

    	1.2	
            Purposes of the Plan.  The purposes of the Plan are to provide
              additional incentives to non-employee directors of the Company and to those officers, employees and consultants of the Company, Subsidiaries and Affiliates whose substantial contributions are essential to the continued growth and success of
              the business of the Company and the Subsidiaries and Affiliates, in order to strengthen their commitment to the Company and the Subsidiaries and Affiliates, and to attract and retain competent and dedicated individuals whose efforts will
              result in the long-term growth and profitability of the Company and to further align the interests of such non-employee directors, officers, employees and consultants with the interests of the stockholders of the Company.

          

     

    	1.3	
            Duration and Scope of the Plan.  The Plan shall commence on the
              Effective Date, and shall remain in effect, subject to the right of the Board of Directors to amend or terminate the Plan at any time pursuant to Article 14, until all Shares subject to it shall have been delivered, and any restrictions on
              such Shares have lapsed, pursuant to the Plan’s provisions.  However, in no event may an Award be granted under the Plan on or after ten years from the Effective Date.  For clarification purposes, the terms and conditions of the Plan, to the
              extent they differ from the terms and conditions of the Company’s 2016 Long-Term Incentive Compensation Plan as originally adopted (the “Prior Plan”), shall not apply to or otherwise impact previously granted or outstanding awards under the
              Prior Plan.

          

     

    	2.	
            ADMINISTRATION

          

     

    	2.1	
            General.  The Committee shall have exclusive authority to operate,
              manage and administer the Plan in accordance with its terms and conditions.  Notwithstanding the foregoing, in its absolute discretion, the Board may at any time and from time to time exercise any and all rights, duties and responsibilities
              of the Committee under the Plan, including establishing procedures to be followed by the Committee, but excluding matters which under any applicable law, regulation or rule, including any exemptive rule under Section 16 of the Exchange Act
              (including Rule 16b-3), are required to be determined in the sole discretion of the Committee.  If and to the extent that the Committee does not exist or cannot function, the Board may take any action under the Plan that would otherwise be
              the responsibility of the Committee, subject to the limitations set forth in the immediately preceding sentence.

          

     

    	2.2	
            Committee.  The members of the Committee shall be appointed from time to
              time by, and shall serve at the discretion of, the Board of Directors.  Appointment of Committee members shall be effective upon their acceptance of such appointment.  Committee members may be removed by the Board at any time either with or
              without cause, and such members may resign at any time by delivering notice thereof to the Board.  Any vacancy on the Committee, whether due to action of the Board or any other reason, shall be filled by the Board.  A majority of the
              Committee shall constitute a quorum and a majority of a quorum may authorize any action.  Any decision reduced to writing and signed by a majority of the members of the Committee shall be fully effective as if it has been made at a meeting
              duly held.

          

     

    	2.3	
            Authority of the Committee.  The Committee shall have full discretionary
              authority to grant, pursuant to the terms of the Plan, Awards to those individuals who are eligible to receive Awards under the Plan.  Except as limited by law or by the certificate of incorporation or bylaws of the Company, in each case as
              in effect from time to time, and subject to the provisions herein, the Committee shall have full power, in accordance with the other terms and provisions of the Plan, to:

          

     

    
      -1-

      
        

    

    	(a)	
            select Employees, Non-Employee Directors and Consultants who may receive Awards under the Plan and become Participants;

          

     

    	(b)	
            determine eligibility for participation in the Plan and decide all questions concerning eligibility for, and the amount of, Awards under the Plan;

          

     

    	(c)	
            determine the sizes and types of Awards;

          

     

    	(d)	
            determine the terms and conditions of Awards, including the Option Prices of Options and the Grant Prices of SARs;

          

     

    	(e)	
            grant Awards as an alternative to, or as the form of payment for grants or rights earned or payable under, other bonus or compensation plans, arrangements or
              policies of the Company or a Subsidiary or Affiliate;

          

     

    	(f)	
            grant Substitute Awards on such terms and conditions as the Committee may prescribe, subject to compliance with the ISO rules under Code Section 422 and the
              non-qualified deferred compensation rules under Code Section 409A, where applicable;

          

     

    	(g)	
            make all determinations under the Plan concerning Termination of any Participant’s employment or service with the Company or a Subsidiary or Affiliate, including
              whether such Termination occurs by reason of Cause, Good Reason, disability, retirement or in connection with a Change of Control and whether a leave constitutes a Termination;

          

     

    	(h)	
            construe and interpret the Plan and any agreement or instrument entered into under the Plan, including any Award Agreement;

          

     

    	(i)	
            establish and administer any terms, conditions, restrictions, limitations, forfeiture, vesting or exercise schedule, and other provisions of or relating to any
              Award;

          

     

    	(j)	
            establish and administer any performance goals in connection with any Awards, including performance criteria and applicable Performance Periods, determine the
              extent to which any performance goals and/or other terms and conditions of an Award are attained or are not attained;

          

     

    	(k)	
            construe any ambiguous provisions, correct any defects, supply any omissions and reconcile any inconsistencies in the Plan and/or any Award Agreement or any
              other instrument relating to any Awards;

          

     

    	(l)	
            establish, adopt, amend, waive and/or rescind rules, regulations, procedures, guidelines, forms and/or instruments for the Plan’s operation or administration;

          

     

    	(m)	
            make all valuation determinations relating to Awards and the payment or settlement thereof;

          

     

    	(n)	
            grant waivers of terms, conditions, restrictions and limitations under the Plan or applicable to any Award, or accelerate the vesting or exercisability of any
              Award;

          

     

    	(o)	
            subject to the provisions of Article 14, amend or adjust the terms and conditions of any outstanding Award and/or adjust the number and/or class of shares of
              stock subject to any outstanding Award;

          

     

    	(p)	
            at any time and from time to time after the granting of an Award, specify such additional terms, conditions and restrictions with respect to such Award as may be
              deemed necessary or appropriate to ensure compliance with any and all applicable laws or rules, including terms, restrictions and conditions for compliance with applicable securities laws or listing rules, methods of withholding or providing
              for the payment of required taxes and restrictions regarding a Participant’s ability to exercise Options through a cashless (broker-assisted) exercise;

          

     

    
      -2-

      
        

    

    	(q)	
            subject to Section 13.1, offer to buy out an Award previously granted, based on such terms and conditions as the Committee shall establish with and communicate
              to the Participant at the time such offer is made;

          

     

    	(r)	
            determine whether, and to what extent and under what circumstances Awards may be settled in cash, Shares or other property or canceled or suspended; and

          

     

    	(s)	
            exercise all such other authorities, take all such other actions and make all such other determinations as it deems necessary or advisable for the proper
              operation and/or administration of the Plan.

          

     

    	2.4	
            Award Agreements.  The Committee shall, subject to applicable laws and
              rules, determine the date an Award is granted.  Each Award shall be evidenced by an Award Agreement; however, two or more Awards granted to a single Participant may be combined in a single Award Agreement.  An Award Agreement shall not be a
              precondition to the granting of an Award; provided, however, that (a) the Committee may, but need not, require as a condition to any Award Agreement’s
              effectiveness, that such Award Agreement be executed on behalf of the Company and/or by the Participant to whom the Award evidenced thereby shall have been granted (including by electronic signature or other electronic indication of
              acceptance), and such executed Award Agreement be delivered to the Company, and (b) no person shall have any rights under any Award unless and until the Participant to whom such Award shall have been granted has complied with the applicable
              terms and conditions of the Award.  The Committee shall prescribe the form of all Award Agreements, and, subject to the terms and conditions of the Plan, shall determine the content of all Award Agreements.  In the event of any dispute or
              discrepancy concerning the terms of an Award, the records of the Committee or its designee shall be determinative.

          

     

    	2.5	
            Discretionary Authority; Decisions Binding.  The Committee shall have
              full discretionary authority in all matters related to the discharge of its responsibilities and the exercise of its authority under the Plan.  All determinations, decisions, actions and interpretations by the Committee with respect to the
              Plan and any Award Agreement, and all related orders and resolutions of the Committee shall be final, conclusive and binding on all Participants, the Company and its stockholders, any Subsidiary or Affiliate and all persons having or claiming
              to have any right or interest in or under the Plan and/or any Award Agreement.  The Committee shall consider such factors as it deems relevant to making or taking such decisions, determinations, actions and interpretations, including the
              recommendations or advice of any Director or officer or employee of the Company, any director, officer or employee of a Subsidiary or Affiliate and such attorneys, consultants and accountants as the Committee may select.  A Participant or
              other holder of an Award may contest a decision or action by the Committee with respect to such person or Award only on the grounds that such decision or action was arbitrary or capricious or was unlawful, and any review of such decision or
              action shall be limited to determining whether the Committee’s decision or action was arbitrary or capricious or was unlawful.

          

     

    	2.6	
            Delegation of Administration.  Except to the extent prohibited by
              applicable law, including any applicable exemptive rule under Section 16 of the Exchange Act (including Rule 16b-3), or the applicable rules of a stock exchange, the Committee may, in its discretion, allocate all or any portion of its
              responsibilities and powers under this Article 2 to any one or more of its members and/or delegate all or any part of its responsibilities and powers under this Article 2 to any person or persons selected by it; provided, however, that the Committee may not (a) delegate to any executive officer of the Company or an Affiliate, or a committee that includes any such executive officer, the
              Committee’s authority to grant Awards, or the Committee’s authority otherwise concerning Awards, awarded to executive officers of the Company or an Affiliate; (b) delegate the Committee’s authority to grant Awards to consultants unless any
              such Award is subject to approval by the Committee; (c) delegate its authority to correct defects, omissions or inconsistencies in the Plan; or (d) delegate its authority with respect to Awards that are intended to qualify as
              performance-based compensation under Code Section 162(m) if such delegation would cause the Awards to fail to so qualify.  Any such authority delegated or allocated by the Committee under this Section 2.6 shall be exercised in accordance with
              the terms and conditions of the Plan and any rules, regulations or administrative guidelines that may from time to time be established by the Committee, and any such allocation or delegation may be revoked by the Committee at any time.

          

     

    
      -3-

      
        

    

    	3.	
            SHARES SUBJECT TO THE PLAN

          

     

    	3.1	
            Number of Shares Available for Grants.  The shares of stock subject to
              Awards granted under the Plan shall be Shares.  Such Shares subject to the Plan may be either authorized and unissued shares or previously issued shares acquired by the Company or any Subsidiary.  As of the Effective Date, 8,950,000 Shares are reserved for issuance of Awards, subject to adjustment as provided in Section 3.2.  Subject to, in the case of ISOs, any limitations applicable thereto under the Code,
              if (a) any Shares are subject to an Option, SAR, or other Award which for any reason expires or is terminated or canceled without having been fully exercised or satisfied, or are subject to any Restricted Stock Award (including any Shares
              subject to a Participant’s Restricted Stock Award that are repurchased by the Company at the Participant’s cost), Restricted Stock Unit Award or other Award granted under the Plan which are forfeited, or (b) any Award based on Shares is
              settled for cash, expires or otherwise terminates without the issuance of such Shares, the Shares subject to such Award shall, to the extent of any such expiration, termination, cancellation, forfeiture or cash settlement, be available for
              delivery in connection with future Awards under the Plan. If, under the Plan, a Participant has elected to give up the right to receive cash compensation in exchange for Shares based on fair market value, such issuance of Shares will not
              reduce the number of Shares available for issuance under the Plan.  Any Shares delivered under the Plan upon exercise or satisfaction of Substitute Awards shall not reduce the Shares available for delivery under the Plan; provided, however, that the total number of Shares that may be delivered pursuant to Incentive Stock Options granted under the Plan shall be the number of
              Shares set forth in the third sentence of this Section 3.1, as adjusted pursuant to this Section 3.1, but without application of the foregoing provisions of this sentence.  Shares may be issued under the terms of this Plan in connection with
              a merger or acquisition as permitted by NASDAQ Listing Rule 5635(c), NYSE Listed Company Manual Section 303A.08, AMEX Company Guide Section 711 or other applicable rule, and such issuance will not reduce the number of Shares available for
              issuance under the Plan.  The payment of Dividend Equivalents in cash in conjunction with any outstanding Awards shall not be counted against the shares available for issuance under the Plan.  Notwithstanding anything to the contrary
              contained herein, the following Shares will not be added to the aggregate number of Shares available for issuance of Awards under this Section 3.1: (a) Shares
              withheld by the Company, tendered or otherwise used in payment of the Option Price of an Option, (b) Shares withheld or otherwise used by the Company to satisfy a tax withholding obligation, (c) Shares subject to a SAR that are not actually
              issued in connection with the settlement thereof, and (d) Shares reacquired by the Company on the open market or otherwise using cash proceeds from the exercise of Options.

          

     

    	3.2	
            Adjustments in Authorized Shares.  In the event of any corporate event
              or transaction (including a change in the Shares or the capitalization of the Company), such as a reclassification, recapitalization, merger, consolidation, reorganization (whether or not such reorganization comes within the definition of
              such term in Code Section 368), issuance of warrants or rights, dividend or other distribution (whether in the form of cash, stock or other property), stock split or reverse stock split, spin-off, split-up, combination or exchange of shares,
              repurchase of shares, or other like change in corporate structure, partial or complete liquidation of the Company or distribution (other than normal cash dividends) to stockholders of the Company, or any similar corporate event or
              transaction, the Committee shall substitute or adjust, as applicable, the number, class and kind of securities which may be delivered under Section 3.1; the number, class and kind, and/or price (such as the Option Price of Options or the
              Grant Price of SARs) of securities subject to outstanding Awards; the numerical limits set forth in Section 4.3; and other value determinations applicable to outstanding Awards, in order to prevent dilution or enlargement of Participants’
              rights under the Plan; provided, however, that the number of Shares subject to any Award shall always be a whole number.  The Committee shall also make appropriate adjustments and modifications in the terms of any outstanding Awards to
              reflect or related to any such events, adjustments, substitutions or changes.  Any adjustment, substitution or change pursuant to this Section 3.2 made with respect to an Award intended to be an Incentive Stock Option shall be made only to
              the extent consistent with such intent, unless the Committee determines otherwise.  The Committee shall not make any adjustment pursuant to this Section 3.2 that would cause an Award that is otherwise exempt from Code Section 409A to become
              subject to Code Section 409A, or that would cause an Award that is subject to Code Section 409A to fail to satisfy the requirements of Code Section 409A.  All determinations of the Committee as to adjustments or changes, if any, under this
              Section 3.2 shall be conclusive and binding on the Participants.

          

     

    
      -4-

      
        

    

    	3.3	
            No Limitation on Corporate Actions.  The existence of the Plan and any
              Awards granted hereunder shall not affect in any way the right or power of the Company, any Subsidiary or any Affiliate to make or authorize any adjustment, recapitalization, reorganization or other change in its capital structure or business
              structure, any merger or consolidation, any issuance of debt, preferred or prior preference stock ahead of or affecting the Shares, additional shares of capital stock or other securities or subscription rights thereto, any dissolution or
              liquidation, any sale or transfer of all or part of its assets or business or any other corporate act or proceeding.

          

     

    	4.	
            ELIGIBILITY, PARTICIPATION AND INDIVIDUAL LIMITATIONS ON AWARDS

          

     

    	4.1	
            Eligibility.  Employees, Non-Employee Directors and Consultants shall be
              eligible to become Participants and receive Awards in accordance with the terms and conditions of the Plan, subject to the limitations on the granting of ISOs set forth in Section 6.8(a).

          

     

    	4.2	
            Actual Participation.  Subject to the provisions of the Plan, the
              Committee may, from time to time, select Participants from all eligible Employees, Non-Employee Directors and Consultants and shall determine the nature and amount of each Award.

          

     

    	4.3	
            Individual Limitations on Awards.

          

     

    	(a)	
            Individual Limit for Options and SARs.  The maximum number of Shares with respect to
              which Options and SARs may be granted to any Participant in any Fiscal Year shall be 1 million.  In connection with a Participant’s commencement of service for the Company, any Affiliate or Subsidiary, as applicable, a Participant may be
              granted Options and SARs for up to an additional 3 million Shares which shall not count against the limit set forth in the previous sentence.  The foregoing limitation(s) shall be adjusted proportionately in connection with any change in the
              Company’s capitalization pursuant to Section 4.2.

          

     

    	(b)	
            Individual Limit for Awards to Non-Employee Directors.  The maximum grant date fair
              value, determined in accordance with the Company’s standard accounting principles, of Awards that may be granted to any Non-Employee Director for service in any Fiscal Year together with any cash compensation payable to such Non-Employee
              Director for such Fiscal Year shall be $500,000 (or, for a Non-Employee Director serving as Chair and/or Vice Chair, $750,000).

          

     

    	5.	
            STOCK OPTIONS

          

     

    	5.1	
            Grant of Options.  Subject to the terms and provisions of the Plan,
              Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee.

          

     

    	5.2	
            Award Agreement.  Each Option grant shall be evidenced by an Award
              Agreement that shall specify the Option Price, the maximum duration of the Option, the number of Shares to which the Option pertains, the conditions upon which the Option shall become exercisable and such other provisions as the Committee
              shall determine, which are not inconsistent with the terms of the Plan.  The Award Agreement also shall specify whether the Option is intended to be an ISO or an NQSO.  To the extent that any Option does not qualify as an ISO (whether because
              of its provisions or the time or manner of its exercise or otherwise), such Option, or the portion thereof which does not so qualify, shall constitute a separate NQSO.

          

     

    	5.3	
            Option Price.  The Option Price for each Option shall be determined by
              the Committee and set forth in the Award Agreement; provided that, subject to Section 5.8(c), the Option Price of an Option shall be not less than one
              hundred percent of the Fair Market Value of a Share on the date the Option is granted; provided further, that Substitute Awards or Awards granted in
              connection with an adjustment provided for in Section 3.2, in the form of stock options, shall have an Option Price per Share that is intended to maintain the economic value of the Award that was replaced or adjusted, as determined by the
              Committee.

          

     

    
      -5-

      
        

    

    	5.4	
            Duration of Options.  Each Option granted to a Participant shall expire
              at such time as the Committee shall determine at the time of grant and set forth in the Award Agreement; provided, however, that no Option shall be exercisable later than the tenth anniversary of its date of grant, subject to the respective
              last sentences of Sections 5.5 and 5.8(c).

          

     

    	5.5	
            EXERCISE OF OPTIONS.

          

     

    	(a)	
            Options shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance determine and set forth in
              the Award Agreement, which need not be the same for each grant or for each Option or Participant.  An Award Agreement may provide that the period of time over which an Option other than an ISO may be exercised shall be automatically extended
              if on the scheduled expiration date of such Option the Participant’s exercise of such Option would violate applicable securities laws; provided,
              however, that during such extended exercise period the Option may only be exercised to the extent the Option was exercisable in accordance with its terms immediately prior to such scheduled expiration date; provided further, however, that such extended exercise period shall end not later than thirty days after the exercise of such Option first would no longer violate such laws.

          

     

    	(b)	
            The Committee may provide that unvested Options can be exercised by payment of the exercise price thereof to the Company.  The Company or an escrow agent
              appointed by the Company shall hold any Shares acquired upon exercise of an unvested Option.  Such Shares shall be released from escrow if, as, when and to the extent the vesting and performance (if any) criteria of such option are
              satisfied.  To the extent the vesting and performance criteria (if any) of such Option are not satisfied, (i) the Participant shall not have the right to refund of any exercise price paid in respect of such Option and (ii) the shares issued
              upon exercise of such unvested Option shall be returned to the Company.

          

     

    	5.6	
            Payment.  Options shall be exercised by the delivery of a written notice
              of exercise to the Company, in a form specified or accepted by the Committee, or by complying with any alternative exercise procedures that may be authorized by the Committee, setting forth the number of Shares with respect to which the
              Option is to be exercised, accompanied by full payment for such Shares, which shall include applicable taxes, if any, in accordance with Article 14.  The Option Price upon exercise of any Option shall be payable to the Company in full either:
              (a) in cash or its equivalent; (b) subject to such terms, conditions and limitations as the Committee may prescribe, by tendering (either by actual delivery or attestation) unencumbered Shares previously acquired by the Participant exercising
              such Option having an aggregate Fair Market Value at the time of exercise equal to the total Option Price, (c) by a combination of (a) and (b); or (d) by any other method approved or accepted by the Committee in its sole discretion,
              including, if the Committee so determines, (x) a cashless (broker-assisted) exercise that complies with all applicable laws or (y) withholding of Shares otherwise deliverable to the Participant pursuant to the Option having an aggregate Fair
              Market Value at the time of exercise equal to the total Option Price.  Subject to any governing rules or regulations, as soon as practicable after receipt of a written notification of exercise and full payment in accordance with the preceding
              provisions of this Section 5.6, the Company shall deliver to the Participant exercising an Option, in the Participant’s name, evidence of book entry Shares, or, upon the Participant’s request, Share certificates, in an appropriate amount
              based upon the number of Shares purchased under the Option, subject to Section 18.10.  Unless otherwise determined by the Committee, all payments under all of the methods described above shall be paid in United States dollars.

          

     

    	5.7	
            Termination of Employment or Service.  Except as otherwise provided in
              the Award Agreement, an Option may be exercised only to the extent that it is then exercisable, and if at all times during the period beginning with the date of granting of such Option and ending on the date of exercise of such Option the
              Participant is an Employee, Non-Employee Director or Consultant, and shall terminate immediately upon a Termination of the Participant.  An Option shall cease to become exercisable upon a Termination of the holder thereof.  Notwithstanding
              the foregoing provisions of this Section 5.7 to the contrary, the Committee may determine in its discretion that an Option may be exercised following any such Termination, whether or not exercisable at the time of such Termination; provided, however, that in no event may an Option be exercised after the expiration date of such Option specified in the applicable Award Agreement, except
              as provided in the last sentence of Section 5.5.

          

     

    
      -6-

      
        

    

    	5.8	
            LIMITATIONS ON INCENTIVE STOCK OPTIONS.

          

     

    	(a)	
            General.  No ISO shall be granted to any individual otherwise eligible to
              participate in the Plan who is not an Employee of the Company or a Subsidiary on the date of granting of such Option.  Any ISO granted under the Plan shall contain such terms and conditions, consistent with the Plan, as the Committee may
              determine to be necessary to qualify such Option as an “incentive stock option” under Code Section 422.  Any ISO granted under the Plan may be modified by the Committee to disqualify such Option from treatment as an “incentive stock option”
              under Code Section 422.

          

     

    	(b)	
            $100,000 Per Year Limitation.  Notwithstanding any intent to grant ISOs, an Option
              granted under the Plan will not be considered an ISO to the extent that it, together with any other “incentive stock options” (within the meaning of Code Section 422, but without regard to subsection (d) of such Section) under the Plan and
              any other “incentive stock option” plans of the Company, any Subsidiary and any “parent corporation” of the Company within the meaning of Code Section 424(e), are exercisable for the first time by any Participant during any calendar year with
              respect to Shares having an aggregate Fair Market Value in excess of $100,000 (or such other limit as may be required by the Code) as of the time the Option with respect to such Shares is granted.  The rule set forth in the preceding sentence
              shall be applied by taking Options into account in the order in which they were granted.

          

     

    	(c)	
            Options Granted to Certain Stockholders.  No ISO shall be granted to an individual
              otherwise eligible to participate in the Plan who owns (within the meaning of Code Section 424(d)), at the time the Option is granted, more than ten percent of the total combined voting power of all classes of stock of the Company or a
              Subsidiary or any “parent corporation” of the Company within the meaning of Section 424(e) of the Code.  This restriction does not apply if at the time such ISO is granted the Option Price of the ISO is at least one hundred ten percent of the
              Fair Market Value of a Share on the date such ISO is granted, and the ISO by its terms is not exercisable after the expiration of five years from such date of grant.

          

     

    	5.9	
            Substitution of Stock Appreciation Rights.  Subject to the other
              provisions of this Plan, the Committee may provide in the Award Agreement evidencing the grant of an Option that the Committee, in its sole discretion, shall have to right to substitute a SAR for such Option at any time prior to or upon
              exercise of such Option; provided, that such SAR shall be exercisable with respect to the same number of shares of Stock for which such substituted
              Option would have been exercisable.

          

     

    	6.	
            STOCK APPRECIATION RIGHTS

          

     

    	6.1	
            Grant of SARs.  Subject to the terms and conditions of the Plan, SARs
              may be granted to Participants at any time and from time to time as shall be determined by the Committee.  The Committee may grant an SAR (a) in connection and simultaneously with the grant of an Option (a Tandem SAR) or (b) independent of,
              and unrelated to, an Option (a Freestanding SAR).

          

     

    	6.2	
            Grant Price.  The Grant Price for each SAR shall be determined by the
              Committee and set forth in the Award Agreement, subject to the limitations of this Section 6.2.  The Grant Price for each Freestanding SAR shall be not less than one hundred percent of the Fair Market Value of a Share on the date such
              Freestanding SAR is granted, except in the case of Substitute Awards or Awards granted in connection with an adjustment provided for in Section 3.2.  The Grant Price of a Tandem SAR shall be equal to the Option Price of the related Option.

          

     

    
      -7-

      
        

    

    	6.3	
            Exercise of Tandem SARs.  Tandem SARs may be exercised for all or part
              of the Shares subject to the related Option upon the surrender of the right to exercise the equivalent portion of the related Option.  A Tandem SAR shall be exercisable only when and to the extent the related Option is exercisable and may be
              exercised only with respect to the Shares for which the related Option is then exercisable.  A Tandem SAR shall entitle a Participant to elect, in the manner set forth in the Plan and the applicable Award Agreement, in lieu of exercising his
              or her unexercised related Option for all or a portion of the Shares for which such Option is then exercisable pursuant to its terms, to surrender such Option to the Company with respect to any or all of such Shares and to receive from the
              Company in exchange therefor a payment described in Section 6.7.  An Option with respect to which a Participant has elected to exercise a Tandem SAR shall, to the extent of the Shares covered by such exercise, be canceled automatically and
              surrendered to the Company.  Such Option shall thereafter remain exercisable according to its terms only with respect to the number of Shares as to which it would otherwise be exercisable, less the number of Shares with respect to which such
              Tandem SAR has been so exercised.  Notwithstanding any other provision of the Plan to the contrary, with respect to a Tandem SAR granted in connection with an ISO: (a) the Tandem SAR will expire no later than the expiration of the related
              ISO; (b) the value of the payment with respect to the Tandem SAR may not exceed the difference between the Fair Market Value of the Shares subject to the related ISO at the time the Tandem SAR is exercised and the Option Price of the related
              ISO; and (c) the Tandem SAR may be exercised only when the Fair Market Value of the Shares subject to the ISO exceeds the Option Price of the ISO.

          

     

    	6.4	
            Exercise of Freestanding SARs.  Freestanding SARs may be exercised upon
              whatever terms and conditions the Committee, in its sole discretion, in accordance with the Plan, determines and sets forth in the Award Agreement.  An Award Agreement may provide that the period of time over which a Freestanding SAR may be
              exercised shall be automatically extended if on the scheduled expiration date of such SAR the Participant’s exercise of such SAR would violate applicable securities laws; provided, however, that during such extended exercise period the SAR may only be exercised to the extent the SAR was exercisable in accordance with its terms immediately prior to such scheduled expiration date; provided further, however, that such extended exercise period shall end not later than thirty days after the exercise of such SAR first would no longer
              violate such laws.

          

     

    	6.5	
            Award Agreement.  Each SAR grant shall be evidenced by an Award
              Agreement that shall specify the number of Shares to which the SAR pertains, the Grant Price, the term of the SAR, and such other terms and conditions as the Committee shall determine in accordance with the Plan.

          

     

    	6.6	
            Term of SARs.  The term of a SAR granted under the Plan shall be
              determined by the Committee, in its sole discretion; provided, however, that the term of any Tandem SAR shall be the same as the related Option and no
              SAR shall be exercisable more than ten years after it is granted, subject to the last sentence of Section 5.5(a) in the case of a Tandem SAR.

          

     

    	6.7	
            Payment of SAR Amount.  An election to exercise SARs shall be deemed to
              have been made on the date of Notice of such election to the Company.  As soon as practicable following such Notice, the Participant shall be entitled to receive payment from the Company in an amount determined by multiplying:

          

     

    	(a)	
            The excess of the Fair Market Value of a Share on the date of exercise over the Grant Price of the SAR; by

          

     

    	(b)	
            The number of Shares with respect to which the SAR is exercised.

          

     

    Notwithstanding the foregoing provisions of this Section 6.7 to the contrary, the Committee may establish and set forth in the applicable Award
      Agreement a maximum amount per Share that will be payable upon the exercise of a SAR.  At the discretion of the Committee, such payment upon exercise of a SAR shall be in cash, in Shares of equivalent Fair Market Value, or in some combination
      thereof.

     

    	6.8	
            Termination of Employment or Service.  Except as otherwise provided in
              the Award Agreement, a SAR may be exercised only to the extent that it is then exercisable, and if at all times during the period beginning with the date of granting of such SAR and ending on the date of exercise of such SAR the Participant
              is an Employee, Non-Employee Director or Consultant, and shall terminate immediately upon a Termination of the Participant.  A SAR shall cease to become exercisable upon a Termination of the holder thereof.  Notwithstanding the foregoing
              provisions of this Section 6.8 to the contrary, the Committee may determine in its discretion that a SAR may be exercised following any such Termination, whether or not exercisable at the time of such Termination; provided, however, that in
              no event may a SAR be exercised after the expiration date of such SAR specified in the applicable Award Agreement, except as provided in the last sentence of Section 5.5(a) (in the case of Tandem SARs) or in the last sentence of Section 6.4
              (in the case of Freestanding SARs).  To the extent applicable to any Tandem SAR, the foregoing provisions of this Section 6.8 are subject to the provisions of Section 6.8, pursuant to the provisions Section 6.3.

          

     

    
      -8-

      
        

    

    	7.	
            RESTRICTED STOCK AND RESTRICTED STOCK UNITS

          

     

    	7.1	
            Awards of Restricted Stock and Restricted Stock Units.  Subject to the
              terms and provisions of the Plan, the Committee, at any time and from time to time, may grant Shares of Restricted Stock and/or Restricted Stock Units to Participants in such amounts as the Committee shall determine.

          

     

    	7.2	
            Award Agreement.  Each Restricted Stock and/or Restricted Stock Unit
              Award shall be evidenced by an Award Agreement that shall specify the Period of Restriction, the number of Shares of Restricted Stock or the number of Restricted Stock Units granted, and such other provisions as the Committee shall determine
              in accordance with the Plan.

          

     

    	7.3	
            Non-Transferability of Restricted Stock.  Except as provided in this
              Article 7, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, encumbered, alienated, hypothecated or otherwise disposed of until the end of the applicable Period of Restriction established by the Committee and
              specified in the Restricted Stock Award Agreement.

          

     

    	7.4	
            Period of Restriction and Other Restrictions.  The Period of Restriction
              shall lapse based on continuing service as a Non-Employee Director or Consultant or continuing employment with the Company, a Subsidiary or an Affiliate, the achievement of performance goals, the satisfaction of other conditions or
              restrictions or upon the occurrence of other events, in each case, as determined by the Committee, at its discretion, and stated in the Award Agreement.  If the grants of Restricted Stock or Restricted Stock Units are intended to qualify as
              “performance-based compensation” under Code Section 162(m), the Committee will set restrictions based upon the achievement of the performance goals set forth in Section 8.3 and will determine achievement of such goals in accordance with
              Section 8.3.

          

     

    	7.5	
            Delivery of Shares, Payment of Restricted Stock Units.  Subject to
              Section 18.10, after the last day of the Period of Restriction applicable to a Participant’s Shares of Restricted Stock, and after all conditions and restrictions applicable to such Shares of Restricted Stock have been satisfied or lapse
              (including satisfaction of any applicable withholding tax obligations), pursuant to the applicable Award Agreement, such Shares of Restricted Stock shall become freely transferable by such Participant.  After the last day of the Period of
              Restriction applicable to a Participant’s Restricted Stock Units, and after all conditions and restrictions applicable to Restricted Stock Units have been satisfied or lapse (including satisfaction of any applicable withholding tax
              obligations), pursuant to the applicable Award Agreement, such Restricted Stock Units shall be settled by delivery of Shares, a cash payment determined by reference to the then-current Fair Market Value of Shares or a combination of Shares
              and such cash payment as the Committee, in its sole discretion, shall determine, either by the terms of the Award Agreement or otherwise.

          

     

    	7.6	
            Forms of Restricted Stock Awards.  Each Participant who receives an
              Award of Shares of Restricted Stock shall be issued a stock certificate or certificates evidencing the Shares covered by such Award registered in the name of such Participant, which certificate or certificates may contain an appropriate
              legend.  The Committee may require a Participant who receives a certificate or certificates evidencing a Restricted Stock Award to immediately deposit such certificate or certificates, together with a stock power or other appropriate
              instrument of transfer, endorsed in blank by the Participant, with signatures guaranteed in accordance with the Exchange Act if required by the Committee, with the Secretary of the Company or an escrow holder as provided in the immediately
              following sentence.  The Secretary of the Company or such escrow holder as the Committee may appoint shall retain physical custody of each certificate representing a Restricted Stock Award until the Period of Restriction and any other
              restrictions imposed by the Committee or under the Award Agreement with respect to the Shares evidenced by such certificate expire or shall have been removed.  The foregoing to the contrary notwithstanding, the Committee may, in its
              discretion, provide that a Participant’s ownership of Shares of Restricted Stock prior to the lapse of the Period of Restriction or any other applicable restrictions shall, in lieu of such certificates, be evidenced by a “book entry” (i.e., a
              computerized or manual entry) in the records of the Company or its designated agent in the name of the Participant who has received such Award.  Such records of the Company or such agent shall, absent manifest error, be binding on all
              Participants who receive Restricted Stock Awards evidenced in such manner.  The holding of Shares of Restricted Stock by the Company or such an escrow holder, or the use of book entries to evidence the ownership of Shares of Restricted Stock,
              in accordance with this Section 7.6, shall not affect the rights of Participants as owners of the Shares of Restricted Stock awarded to them, nor affect the restrictions applicable to such shares under the Award Agreement or the Plan,
              including the Period of Restriction.

          

     

    
      -9-

      
        

    

    	7.7	
            Voting Rights.  Unless otherwise determined by the Committee and set
              forth in a Participant’s Award Agreement, to the extent permitted or required by law, as determined by the Committee, Participants holding Shares of Restricted Stock shall be granted the right to exercise full voting rights with respect to
              those Shares during the Period of Restriction.  A Participant shall have no voting rights with respect to any Restricted Stock Units.

          

     

    	7.8	
            Dividends and Other Distributions.  During the Period of Restriction,
              Participants holding Shares of Restricted Stock shall be credited with any cash dividends paid with respect to such Shares while they are so held, unless determined otherwise by the Committee and set forth in the Award Agreement.  The
              Committee may apply any restrictions to such dividends that the Committee deems appropriate.  Except as set forth in the Award Agreement, in the event of (a) any adjustment as provided in Section 3.2, or (b) any shares or securities are
              received as a dividend, or an extraordinary dividend is paid in cash, on Shares of Restricted Stock, any new or additional Shares or securities or any extraordinary dividends paid in cash received by a recipient of Restricted Stock shall be
              subject to the same terms and conditions, including the Period of Restriction, as it relates to the original Shares of Restricted Stock.

          

     

    	7.9	
            Termination of Employment or Service.  Except as otherwise provided in
              this Section 7.9, during the Period of Restriction, any Restricted Stock Units and/or Shares of Restricted Stock held by a Participant shall be forfeited and revert to the Company (or, if Shares of Restricted Sock were sold to the
              Participant, the Participant shall be required to resell such Shares to the Company at cost) upon the Participant’s Termination or the failure to meet or satisfy any applicable performance goals or other terms, conditions and restrictions to
              the extent set forth in the applicable Award Agreement.  Each applicable Award Agreement shall set forth the extent to which, if any, the Participant shall have the right to retain Restricted Stock Units and/or Shares of Restricted Stock,
              then subject to the Period of Restriction, following such Participant’s Termination.  Such provisions shall be determined in the sole discretion of the Committee, shall be included in the applicable Award Agreement, need not be uniform among
              all such Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons for, or circumstances of, such Termination.

          

     

    	7.10	
            Repurchase or Forfeiture of Restricted Stock.  If no price was paid by
              the Participant for the Restricted Stock, upon a the Participant’s Termination, the Participant’s rights in unvested Restricted Stock then subject to restrictions shall lapse, and such Restricted Stock shall be surrendered to the Company
              without consideration.  If a price was paid by the Participant for the Restricted Stock, upon the Participant’s Termination the Company shall have the right to repurchase from the Participant the unvested Restricted Stock then subject to
              restrictions at a cash price per share equal to the price paid by the Participant for such Restricted Stock or such other amount as may be specified in the Award Agreement.  The Committee in its discretion may provide that in the event of
              certain events, including a Change in Control, the Participant’s death, retirement or disability or any other specified Termination of Service or any other event, the Participant’s rights in unvested Restricted Stock shall not lapse, such
              Restricted Stock shall vest and, if applicable, the Company shall not have a right of repurchase.

          

     

    	8.	
            PERFORMANCE UNITS, PERFORMANCE SHARES, AND CASH-BASED AWARDS

          

     

    
      -10-

      
        

    

    	8.1	
            Grant of Performance Units, Performance Shares and Cash-Based Awards. 
              Subject to the terms of the Plan, Performance Units, Performance Shares, and/or Cash-Based Awards may be granted to Participants in such amounts and upon such terms, and at any time and from time to time, as shall be determined by the
              Committee, in accordance with the Plan.  A Performance Unit, Performance Share or Cash-Based Award entitles the Participant who receives such Award to receive Shares or cash upon the attainment of performance goals and/or satisfaction of
              other terms and conditions determined by the Committee when the Award is granted and set forth in the Award Agreement.  Such entitlements of a Participant with respect to his or her outstanding Performance Unit, Performance Share or
              Cash-Based Award shall be reflected by a bookkeeping entry in the records of the Company, unless otherwise provided by the Award Agreement.

          

     

    	8.2	
            Value of Performance Units, Performance Shares and Cash-Based Awards. 
              Each Performance Unit shall have an initial value that is established by the Committee at the time of grant.  Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the date of grant.  Each Cash-Based
              Award shall have a value as shall be determined by the Committee.  The Committee shall set performance goals in its discretion which, depending on the extent to which they are met, will determine the number and/or value of Performance Units
              and Performance Shares and Cash-Based Awards that will be paid out to the Participant.

          

     

    	8.3	
            Earning of Performance Units, Performance Shares and Cash-Based Awards. 
              Subject to the terms of the Plan, after the applicable Performance Period has ended, the holder of Performance Units, Performance Shares or Cash-Based Awards shall be entitled to receive payment on the number and value of Performance Units,
              Performance Shares or Cash-Based Awards earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance goals and/or other terms and conditions have been achieved or
              satisfied.  The Committee shall determine the extent to which any such pre-established performance goals and/or other terms and conditions of a Performance Unit, Performance Share or Cash-Based Award are attained or not attained following
              conclusion of the applicable Performance Period.  The Committee may, in its discretion, waive any such performance goals and/or other terms and conditions relating to any such Award.  The performance goals applicable to a payment hereunder
              may provide for a targeted level or levels of achievement using measures the Committee determines to be appropriate, including the following measures:

          

     

    
      
        	•	
                total shareholder return

              

         

        	•	
                revenue, earnings before interest and taxes, contribution margin, free cash flow or other financial measures of the Company, a subsidiary or a product line

              

         

        	•	
                return on equity, return on invested capital and similar metrics

              

         

        	•	
                launching a new investment product

              

         

        	•	
                strategic partnerships or transactions

              

         

        	•	
                financial ratios, including those measuring liquidity, activity, profitability or leverage

              

         

        	•	
                financing and other capital raising transactions (including sales of the Company’s equity or debt securities; factoring transactions)

              

         

        	•	
                key performance indicators of middle office, back office and staff functions

              

         

        	•	
                co-development, co-marketing, profit sharing, joint venture or other similar arrangements

              

         

        	•	
                regulatory achievements (including submitting or filing applications or other documents with regulatory authorities or receiving approval of any such
                  applications or other documents; passing pre-approval inspections (whether of the Company, its affiliates or third parties))

              

         

        	•	
                debt reduction

              

      

    

    
      
        	•	
                appreciation in and/or maintenance of the price of the Shares or any other publicly-traded securities of the Company

              

         

        	•	
                carried interest, general partner’s revenue, incentive fees or management fees from a particular investment product

              

         

        	•	
                performance of attributed investments

              

         

        	•	
                obtaining investment commitments from investors, expanding and maintaining relationships with investors, sourcing new investors and other distribution
                  activities

              

         

        	•	
                operating efficiencies

              

         

        	•	
                cost of capital or assets under management

              

         

        	•	
                revenue growth or product revenue growth

              

         

        	•	
                expense levels

              

         

        	•	
                economic value-added models or equivalent metrics

              

         

        	•	
                cash flow or cash flow per share (before or after dividends) working capital levels, including cash, inventory and accounts receivable

              

         

        	•	
                comparisons with various stock market indices

              

      

    

    	

          

    
      -11-

      
        

    

    Such performance goals also may be based solely by reference to the Company’s performance or the performance of a Subsidiary, division, business
      segment or business unit of the Company, or based upon the relative performance of other companies or upon comparisons of any of the indicators of performance relative to other companies.  The Committee may also exclude charges related to an event or
      occurrence which the Committee determines should appropriately be excluded, including (a) restructurings, discontinued operations, extraordinary items, and other unusual or non-recurring charges, (b) an event either not directly related to the
      operations of the Company or not within the reasonable control of the Company’s management, or (c) the cumulative effects of tax or accounting changes in accordance with U.S. generally accepted accounting principles (“GAAP”). The measures which
      constitute the performance goals may, at the discretion of the Committee, be based on pro forma numbers and may, as the Committee specifies, either include or exclude the effect of payment of the bonuses under the Plan or any other bonus plans of the
      Company.  The performance goals may differ from Participant to Participant.  Such performance goals shall be set by the Committee within the time period prescribed by, and shall otherwise comply with the requirements of, Code Section 162(m), and the
      regulations thereunder, to the extent applicable.  In establishing a performance goal, the Committee may, to the extent doing so does not cause any amount payable hereunder that is intended to be performance-based compensation under Code
      Section 162(m) to cease to so qualify, provide that the attainment of the performance goal shall be measured by appropriately adjusting the evaluation of the performance goal performance to exclude (i) any extraordinary non-recurring items as defined
      under GAAP and/or in management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to stockholders for the applicable year, or (ii) the effect of any changes in accounting principles
      affecting the Company’s or a business unit’s reported results.

     

    	8.4	
            Form and Timing of Payment of Performance Units, Performance Shares and
                Cash-Based Awards.  Payment of earned Performance Units, Performance Shares and Cash-Based Awards shall be as determined by the Committee and as set forth in the Award Agreement.  Subject to the terms of the Plan, the Committee, in
              its sole discretion, may pay earned Performance Units, Performance Shares and Cash-Based Awards in the form of cash or in Shares (or in a combination thereof) which have an aggregate Fair Market Value equal to the value of the earned
              Performance Units, Performance Shares or Cash-Based Awards as soon as practicable after the end of the Performance Period and following the Committee’s determination of actual performance against the performance goals and/or other terms and
              conditions established by the Committee.  Such Shares may be granted subject to any restrictions imposed by the Committee, including pursuant to Section 19.10.  The determination of the Committee with respect to the form of payment of such
              Awards shall be set forth in the Award Agreement pertaining to the grant of the Award.

          

     

    
      -12-

      
        

    

    	8.5	
            Rights as a Stockholder.  A Participant receiving a Performance Unit,
              Performance Share or Cash-Based Award shall have the rights of a stockholder only as to Shares, if any, actually received by the Participant upon satisfaction or achievement of the terms and conditions of such Award and not with respect to
              Shares subject to the Award but not actually issued to such Participant.

          

     

    	8.6	
            Termination of Employment or Service.  Each Award Agreement shall set
              forth the extent to which the Participant shall have the right to retain Performance Units, Performance Shares and/or Cash-Based Award following such Participant’s Termination.  Such provisions shall be determined in the sole discretion of
              the Committee, shall be included in the applicable Award Agreement, need not be uniform among all such Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons for Termination.

          

     

    	8.7	
            Additional Limitations.  Notwithstanding any other provision of the
              Plan, any Award which is intended to constitute qualified performance-based compensation shall be subject to any additional limitations set forth in Code Section 162(m) or any regulations or rulings issued thereunder that are requirements for
              qualification as qualified performance-based compensation as described in Code Section 162(m) and the Plan and the applicable Award Agreement shall be deemed amended to the extent necessary to conform to such requirements.

          

     

    	9.	
            OTHER STOCK-BASED AWARDS

          

     

    	9.1	
            Other Stock-Based Awards.  The Committee may grant types of equity-based
              or equity-related Awards not otherwise described by the terms of the Plan (including the grant or offer for sale of unrestricted Shares), in such amounts (subject to Article 3) and subject to such terms and conditions, as the Committee shall
              determine.  Such Other Stock-Based Awards may involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value of Shares and may include Awards designed to comply with or take advantage of
              the applicable local laws of jurisdictions other than the United States.

          

     

    	9.2	
            Value of Other Stock-Based Awards.  Each Other Stock-Based Award shall
              be expressed in terms of Shares or units based on Shares, as determined by the Committee.  The Committee may establish performance goals in its discretion, and any such performance goals shall be set forth in the applicable Award Agreement. 
              If the Committee exercises its discretion to establish performance goals, the number and/or value of Other Stock-Based Awards that will be paid out to the Participant will depend on the extent to which such performance goals are met.

          

     

    	9.3	
            Payment of Other Stock-Based Awards.  Payment, if any, with respect to
              an Other Stock-Based Award shall be made in accordance with the terms of the Award, as set forth in the Award Agreement, in cash or Shares as the Committee determines.

          

     

    	9.4	
            Termination of Employment or Service.  The Committee shall determine the
              extent to which the Participant shall have the right to receive Other Stock-Based Awards following the Participant’s Termination.  Such provisions shall be determined in the sole discretion of the Committee, such provisions may be included in
              the applicable Award Agreement, but need not be uniform among all Other Stock-Based Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons for Termination.

          

     

    
      -13-

      
        

    

    	10.	
            DIVIDEND EQUIVALENTS  Unless otherwise provided by the Committee, no
              adjustment shall be made in the Shares issuable or taken into account under Awards on account of cash dividends that may be paid or other rights that may be issued to the holders of Shares prior to issuance of such Shares under such Award. 
              The Committee may grant Dividend Equivalents based on the dividends declared on Shares that are subject to any Award, including any Award the payment or settlement of which is deferred pursuant to Section 18.6.  Dividend Equivalents may be
              credited as of the dividend payment dates, during the period between the date the Award is granted and the date the Award becomes payable or terminates or expires.  Dividend Equivalents may be subject to any limitations and/or restrictions
              determined by the Committee.  Dividend Equivalents granted with respect to Performance Units and/or Performance Shares shall only be paid when and to the extent such Award(s) are otherwise earned in accordance with their terms.  Dividend
              Equivalents shall be converted to cash or additional Shares by such formula and at such time, and shall be paid at such times, as may be determined by the Committee.

          

     

    	11.	
            TRANSFERABILITY OF AWARD; BENEFICIARY DESIGNATION

          

     

    	11.1	
            Transferability of Incentive Stock Options.  No ISO or Tandem SAR
              granted in connection with an ISO may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution or in accordance with Section 11.3.  Further, all ISOs and
              Tandem SARs granted in connection with ISOs granted to a Participant shall be exercisable during his or her lifetime only by such Participant.

          

     

    	11.2	
            All Other Awards.  Except as otherwise provided in Section 7.5 or
              Section 11.3 or a Participant’s Award Agreement or otherwise determined at any time by the Committee, no Award granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or
              by the laws of descent and distribution; provided that the Committee may permit further transferability, on a general or a specific basis, and may impose conditions and limitations on any permitted transferability, subject to Section 11.1 and
              any applicable Period of Restriction; provided further, however, that no Award may be transferred for value or other consideration without first
              obtaining approval thereof by the stockholders of the Company.  Further, except as otherwise provided in a Participant’s Award Agreement or otherwise determined at any time by the Committee, or unless the Committee decides to permit further
              transferability, subject to Section 11.1 and any applicable Period of Restriction, all Awards granted to a Participant under the Plan, and all rights with respect to such Awards, shall be exercisable or available during his or her lifetime
              only by or to such Participant.  With respect to those Awards, if any, that are permitted to be transferred to another individual, references in the Plan to exercise or payment related to such Awards by or to the Participant shall be deemed
              to include, as determined by the Committee, the Participant’s permitted transferee.  If any Award is exercised by or otherwise paid to the executors, administrators, heirs or distributees of the estate of a deceased Participant, or such a
              Participant’s beneficiary, or the transferee of an Award, in any such case, pursuant to the terms and conditions of the Plan and the applicable Agreement and in accordance with such terms and conditions as may be specified from time to time
              by the Committee, the Company shall be under no obligation to issue Shares thereunder unless and until the Company is satisfied, as determined in the discretion of the Committee, that the person or persons exercising such Award, or to receive
              such payment, are the duly appointed legal representative of the deceased Participant’s estate or the proper legatees or distributees thereof or the named beneficiary of such Participant, or the valid transferee of such Award, as applicable. 
              Any purported assignment, transfer or encumbrance of an Award that does not comply with this Section 11.2 shall be void and unenforceable against the Company.

          

     

    	11.3	
            Beneficiary Designation.  Each Participant may, from time to time, name
              any beneficiary or beneficiaries who shall be permitted to exercise his or her Option or SAR or to whom any benefit under the Plan is to be paid in case of the Participant’s death before he or she fully exercises his or her Option or SAR or
              receives any or all of such benefit.  Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Company, and will be effective only when filed by the Participant in writing with
              the Company during the Participant’s lifetime.  In the absence of any such beneficiary designation, a Participant’s unexercised Option or SAR, or amounts due but remaining unpaid to such Participant, at the Participant’s death, shall be
              exercised or paid as designated by the Participant by will or by the laws of descent and distribution.

          

     

    
      -14-

      
        

    

    	12.	
            RIGHTS OF PARTICIPANTS

          

     

    	12.1	
            Rights or Claims.  No person shall have any rights or claims under the
              Plan except in accordance with the provisions of the Plan and any applicable Award Agreement.  Unless the Committee determines otherwise, a Participant shall not have any rights as a shareholder with respect to shares of stock covered by an
              Award until the date the Participant becomes the holder of record with respect to such shares.  The liability of the Company and any Subsidiary or Affiliate under the Plan is limited to the obligations expressly set forth in the Plan, and no
              term or provision of the Plan may be construed to impose any further or additional duties, obligations, or costs on the Company, any Subsidiary or any Affiliate thereof or the Board or the Committee not expressly set forth in the Plan.  The
              grant of an Award under the Plan shall not confer any rights upon the Participant holding such Award other than such terms, and subject to such conditions, as are specified in the Plan as being applicable to such type of Award, or to all
              Awards, or as are expressly set forth in the Award Agreement evidencing such Award.  Without limiting the generality of the foregoing, neither the existence of the Plan nor anything contained in the Plan or in any Award Agreement shall be
              deemed to:

          

     

    	(a)	
            Give any Employee or Non-Employee Director the right to be retained in the service of the Company, an Affiliate and/or a Subsidiary, whether in any particular
              position, at any particular rate of compensation, for any particular period of time or otherwise;

          

     

    	(b)	
            Restrict in any way the right of the Company, an Affiliate and/or a Subsidiary to terminate, change or modify any Employee’s employment or any Non-Employee
              Director’s service as a Director at any time with or without Cause;

          

     

    	(c)	
            Confer on any Consultant any right of continued relationship with the Company, an Affiliate and/or a Subsidiary, or alter any relationship between them,
              including any right of the Company or an Affiliate or Subsidiary to terminate, change or modify its relationship with a Consultant;

          

     

    	(d)	
            Constitute a contract of employment or service between the Company or any Affiliate or Subsidiary and any Employee, Non-Employee Director or Consultant, nor
              shall it constitute a right to remain in the employ or service of the Company or any Affiliate or Subsidiary;

          

     

    	(e)	
            Give any Employee, Non-Employee Director or Consultant the right to receive any bonus, whether payable in cash or in Shares, or in any combination thereof, from
              the Company, an Affiliate and/or a Subsidiary, nor be construed as limiting in any way the right of the Company, an Affiliate and/or a Subsidiary to determine, in its sole discretion, whether or not it shall pay any Employee, Non-Employee
              Director or Consultant bonuses, and, if so paid, the amount thereof and the manner of such payment; or

          

     

    	(f)	
            Give any Participant any rights whatsoever with respect to an Award except as specifically provided in the Plan and the Award Agreement.

          

     

    	12.2	
            No Effects on Benefits.  Payments and other compensation received by a
              Participant under an Award are not part of such Participant’s normal or expected compensation or salary for any purpose, including calculating termination, indemnity, severance, resignation, redundancy, end of service payments, bonuses,
              long-service awards, pension or retirement benefits or similar payments under any laws, plans, contracts, policies, programs, arrangements or otherwise.  No claim or entitlement to compensation or damages arises from the termination of the
              Plan or diminution in value of any Award or Shares purchased or otherwise received under the Plan.

          

     

    	13.	
            CHANGE OF CONTROL

          

     

    	13.1	
            Treatment of Outstanding Awards.  In the event of a Change of Control,
              unless otherwise specifically prohibited by any applicable laws, rules or regulations or otherwise provided in any applicable Award Agreement, as in effect prior to the occurrence of the Change of Control, specifically with respect to a
              Change of Control:

          

     

    
      -15-

      
        

    

    	(a)	
            In its discretion, and on such terms and conditions as it deems appropriate, the Committee may provide, either by the terms of the Award Agreement or by
              resolution adopted prior to the occurrence of such Change of Control, that any Awards which are outstanding shall, as applicable and in whole or in part, become vested, non-forfeitable and/or exercisable; have the restrictions, performance
              goals, Period of Restriction or other conditions applicable to such Awards be canceled, terminated or deemed achieved or have any restrictions on transfer, sale assignment, pledge or other disposition (including with respect to Shares
              issuable under such Award) lapse and/or that any Award the payment or settlement of which was deferred under Section 18.6 or otherwise may be paid or distributed immediately prior to the Change of Control, subject to Section 15.6.  Without
              limiting the foregoing, in its discretion, and on such terms and conditions as it deems appropriate, the Committee may provide, either by the terms of the Award Agreement or by resolution adopted prior to the occurrence of such Change of
              Control, that the target payment opportunities attainable under any outstanding Awards of Performance Units, Performance Shares, Cash-Based Awards and other Awards shall be deemed to have been fully or partially earned for any Performance
              Period(s), immediately prior to the effective date of the Change of Control.

          

     

    	(b)	
            In its discretion and in accordance with the terms of the Plan, provide that all or certain Awards be Assumed or Replaced.  In the event that an Award is not
              Assumed or Replaced, or in the event of a liquidation of the Company, then such Award shall, as applicable, become fully vested, non-forfeitable and/or exercisable; have the restrictions, performance goals, Period of Restriction or other
              conditions applicable to such Award canceled, terminated or deemed achieved or have any restrictions on transfer, sale assignment, pledge or other disposition (including with respect to Shares issuable under such Award) lapse immediately
              prior to the Change of Control and the target payment opportunities under such outstanding Award of Performance Units, Performance Shares, Cash-Based Awards or other Award shall be deemed to have been fully earned for the entire Performance
              Period(s) immediately prior to the Change of Control.  Further, unless otherwise provided in any applicable Award Agreement, as in effect prior to the occurrence of the Change of Control, if a Participant with respect to whom an Award has
              been Assumed or Replaced incurs a Termination, either by the Company, an Affiliate or a Subsidiary without Cause or by the Participant for Good Reason (a “Terminated Participant”), after the Change of Control, then subject to Section
              13(b)(b)(i) all outstanding Awards that are held by such Terminated Participant, as the case may be, shall become fully vested, non-forfeitable and/or exercisable; have the restrictions, performance goals, Period of Restriction or other
              conditions applicable to such Award canceled, terminated or deemed achieved or have any restrictions on transfer, sale assignment, pledge or other disposition (including with respect to Shares issuable under such Award) lapse immediately
              prior to the Change of Control.

          

     

    (i)  Notwithstanding Section 13.1(b), with respect to outstanding Awards of Performance Units, Performance Shares, Cash-Based Awards or other Awards,
      the target payment opportunities under such outstanding Awards of Performance Units, Performance Shares, Cash-Based Awards or other Award shall be deemed to have been fully earned for the entire Performance Period(s) immediately prior to the Change
      of Control, in each case immediately preceding, or upon the occurrence of the failure to assume or replace such Awards or upon a Termination described in Section 14.1(b) and (A) there shall be paid out to each Participant holding such an Award
      denominated in Shares, not later than five days prior to the effective date of the Change of Control, in the case of such Awards that are not Assumed or Replaced, or upon the occurrence of such Termination, in the case of a Termination described in
      Section 13.1(b), a pro rata number of Shares (or the equivalent Fair Market Value thereof, as determined by the Committee, in cash) based upon an assumed achievement of all relevant targeted performance goals, unless actual performance exceeds the
      target, in which case actual performance shall be used, and upon the length of time within the Performance Period which has elapsed prior to the Change of Control or such Termination, as the case may be, and (B) Awards denominated in cash shall be
      paid pro rata to the applicable Participant or Participants in cash within thirty days following the effective date of the Change of Control, in the case of such Awards that are not Assumed or Replaced, or within thirty days following the occurrence
      of such Termination, in the case of a Termination described in Section 13.1(b), with the pro-ration determined as a function of the length of time within the Performance Period which has elapsed prior to the Change of Control or Termination, as the
      case may be, and based on an assumed achievement of all relevant targeted performance goals, unless actual performance exceeds the target, in which case actual performance shall be used.

     

    
      -16-

      
        

    

    	(c)	
            In its discretion, and on such terms and conditions as it deems appropriate, the Committee may provide, either by the terms of the Award Agreement applicable to
              any Award or by resolution adopted prior to the occurrence of the Change of Control, that any outstanding Award shall be adjusted by substituting for each Share subject to such Award immediately prior to the transaction resulting in the
              Change of Control the consideration (whether stock or other securities of the surviving corporation or any successor corporation to the Company, or a parent or subsidiary thereof, or that may be issuable by another corporation that is a party
              to the transaction resulting in the Change of Control) received in such transaction by holders of Shares for each Share held on the closing or effective date of such transaction, in which event the aggregate Option Price or Grant Price, as
              applicable, of the Award shall remain the same; provided, however, that if such consideration received in such transaction is not solely stock of a
              successor, surviving or other corporation, the Committee may provide for the consideration to be received upon exercise or payment of an Award, for each Share subject to such Award, to be solely stock or other securities of the successor,
              surviving or other corporation, as applicable, equal in fair market value, as determined by the Committee, to the per-Share consideration received by holders of Shares in such transaction.

          

     

    	(d)	
            In its discretion, and on such terms and conditions as it deems appropriate, the Committee may provide, either by the terms of the Award Agreement applicable to
              any Award or by resolution adopted prior to the occurrence of the Change of Control, that any outstanding Award (or portion thereof) shall be converted into a right to receive cash, on or as soon as practicable following the closing date or
              expiration date of the transaction resulting in the Change of Control in an amount equal to the highest value of the consideration to be received in connection with such transaction for one Share, or, if higher, the highest Fair Market Value
              of a Share during the thirty consecutive business days immediately prior to the closing date or expiration date of such transaction, less the per-Share Option Price, Grant Price or outstanding unpaid purchase price, as applicable to the
              Award, multiplied by the number of Shares subject to such Award, or the applicable portion thereof.

          

     

    	(e)	
            The Committee may, in its discretion, provide that an Award can or cannot be exercised after, or will otherwise terminate or not terminate as of, a Change of
              Control.

          

     

    	13.2	
            No Implied Rights; Other Limitations.  No Participant shall have any
              right to prevent the consummation of any of the acts described in Section 3.2 or 13.1 affecting the number of Shares available to, or other entitlement of, such Participant under the Plan or such Participant’s Award.  Any actions or
              determinations of the Committee under this Article XIV need not be uniform as to all outstanding Awards, nor treat all Participants identically.  Notwithstanding the adjustments described in Section 13.1, in no event may any Option or SAR be
              exercised after ten years from the date it was originally granted, and any changes to ISOs pursuant to this Article 13 shall, unless the Committee determines otherwise, only be effective to the extent such adjustments or changes do not cause
              a “modification” (within the meaning of Code Section 424(h)(3)) of such ISOs or adversely affect the tax status of such ISOs.

          

     

    	14.	
            AMENDMENT, MODIFICATION AND TERMINATION

          

     

    	14.1	
            Amendment, Modification, and Termination.  The Board may, at any time
              and with or without prior notice, amend, alter, suspend, or terminate the Plan, and the Committee may, to the extent permitted by the Plan, amend the terms of any Award theretofore granted, including any Award Agreement, in each case,
              retroactively or prospectively; provided, however, that no such amendment, alteration, suspension, or termination of the Plan shall be made which,
              without first obtaining approval of the stockholders of the Company (where such approval is necessary to satisfy (i) the then-applicable requirements of Rule 16b-3, (ii) any requirements under the Code relating to ISOs, or (iii) any
              applicable law, regulation or rule (including the applicable regulations and rules of the SEC and any national securities exchange)), would:

          

     

    	(a)	
            except as is provided in Section 3.2, increase the maximum number of Shares which may be sold or awarded under the Plan;

          

     

    	(b)	
            except as is provided in Section 3.2, decrease the minimum Option Price or Grant Price requirements of Sections 5.3 and 6.2, respectively;

          

     

    
      -17-

      
        

    

    	(c)	
            change the class of persons eligible to receive Awards under the Plan;

          

     

    	(d)	
            extend the duration of the Plan or the period during which Options or SARs may be exercised under Section 5.4 or 6.6, as applicable; or

          

     

    	(e)	
            otherwise require stockholder approval to comply with any applicable law, regulation or rule (including the applicable regulations and rules of the SEC and any
              national securities exchange).

          

     

    In addition, (i) no such amendment, alteration, suspension or termination of the Plan or any Award theretofore granted, including any Award Agreement,
      shall be made which would materially impair the previously accrued rights of a Participant under any outstanding Award without the written consent of such Participant, provided,
      however, that the Board may amend or alter the Plan and the Committee may amend or alter any Award, including any Agreement, either retroactively or prospectively, without the consent of the applicable Participant, (A) so as to preserve or come
      within any exemptions from liability under Section 16(b) of the Exchange Act, pursuant to the rules and releases promulgated by the SEC (including Rule 16b-3), (B) if the Board or the Committee determines in its discretion that such amendment or
      alteration either (1) is required or advisable for the Company, the Plan or the Award to satisfy, comply with or meet the requirements of any law, regulation, rule or accounting standard or (2) is not reasonably likely to significantly diminish the
      benefits provided under such Award, or that such diminishment has been or will be adequately compensated, or (C) with respect to any Award that is granted to a Participant and is intended to constitute qualified performance-based compensation under
      Code Section 162(m), if the Board or the Committee determines in its discretion that such amendment or alteration is necessary under Section 162(m) (including any amendment to Section 162(m)) or any regulations and ruling issued thereunder to ensure
      that the Awards satisfy the requirements for qualification under Code Section 162(m) and (ii) except as is provided in Section 3.2, but notwithstanding any other provisions of the Plan, neither the Board nor the Committee may take any action: (A) to
      amend the terms of an outstanding Option or SAR to reduce the Option Price or Grant Price thereof, cancel an Option or SAR and replace it with a new Option or SAR with a lower Option Price or Grant Price, or that has an economic effect that is the
      same as any such reduction or cancellation; or (B) to cancel an outstanding Option or SAR having an Option Price or Grant Price above the then-current Fair Market Value of the Shares in exchange for cash or for the grant of another type of Award,
      without, in each such case, first obtaining approval of the stockholders of the Company of such action.

     

    	14.2	
            Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring
                Events.  The Board or the Committee shall make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or non-recurring events (including the events described in Section 3.2)
              affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Board or the Committee determines that such adjustments are necessary to prevent dilution
              or enlargement of the benefits or potential benefits intended to be made available under the Plan.

          

     

    Any such adjustment with respect to an Award intended to be an ISO shall be made only to the extent consistent with such intent, unless the Board or
      the Committee determines otherwise.  The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under the Plan.

     

    	15.	
            TAX WITHHOLDING AND OTHER TAX MATTERS

          

     

    	15.1	
            Tax Withholding.  The Company and/or any Subsidiary or Affiliate are
              authorized to withhold from any Award granted or payment due under the Plan the amount of all Federal, state, local and non-United States taxes due in respect of such Award or payment and take any such other action as may be necessary or
              appropriate, as determined by the Committee, to satisfy all obligations for the payment of such taxes.  The recipient of any payment or distribution under the Plan shall make arrangements satisfactory to the Company, as determined in the
              Committee’s discretion, for the satisfaction of any tax obligations that arise by reason of any such payment or distribution.  The Company shall not be required to make any payment or distribution under or relating to the Plan or any Award
              until such obligations are satisfied or such arrangements are made, as determined by the Committee in its discretion.

          

     

    
      -18-

      
        

    

    	15.2	
            Withholding or Tendering Shares.  Without limiting the generality of
              Section 16.1, the Committee may in its discretion permit a Participant to satisfy or arrange to satisfy, in whole or in part, the tax obligations incident to an Award by: (a) electing to have the Company withhold Shares or other property
              otherwise deliverable to such Participant pursuant to his or her Award (provided, however, that the amount of any Shares so withheld shall not exceed
              the amount necessary to satisfy required Federal, state, local and non-United States withholding obligations using the maximum statutory withholding rates for Federal, state, local and/or non-U.S.  tax purposes, including payroll taxes, that
              are applicable to supplemental taxable income) and/or (b) tendering to the Company Shares owned by such Participant (or by such Participant and his or her spouse jointly) and purchased or held for the requisite period of time as may be
              required to avoid the Company’s or the Affiliates’ or Subsidiaries’ incurring an adverse accounting charge, based, in each case, on the Fair Market Value of the Shares on the payment date as determined by the Committee.  All such elections
              shall be irrevocable, made in writing, signed by the Participant, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate.

          

     

    	15.3	
            Special ISO Obligations.  The Committee may require a Participant to
              give prompt written notice to the Company concerning any disposition of Shares received upon the exercise of an ISO within: (a) two years from the date of granting such ISO to such Participant or (b) one year from the transfer of such Shares
              to such Participant or (c) such other period as the Committee may from time to time determine.  The Committee may direct that a Participant with respect to an ISO undertake in the applicable Award Agreement to give such written notice
              described in the preceding sentence, at such time and containing such information as the Committee may prescribe, and/or that the certificates evidencing Shares acquired by exercise of an ISO refer to such requirement to give such notice.

          

     

    	15.4	
            Section 83(b) Election.  If a Participant makes an election under Code
              Section 83(b) to be taxed with respect to an Award as of the date of transfer of Shares rather than as of the date or dates upon which the Participant would otherwise be taxable under Code Section 83(a), such Participant shall deliver a copy
              of such election to the Company immediately after filing such election with the Internal Revenue Service.  Neither the Company nor any Subsidiary or Affiliate shall have any liability or responsibility relating to or arising out of the filing
              or not filing of any such election or any defects in its construction.

          

     

    	15.5	
            No Guarantee of Favorable Tax Treatment.  Although the Company intends
              to administer the Plan so that Awards will be exempt from, or will comply with, the requirements of Code Section 409A, the Company does not warrant that any Award under the Plan will qualify for favorable tax treatment under Code Section 409A
              or any other provision of federal, state, local, or non-United States law.  The Company shall not be liable to any Participant for any tax, interest, or penalties the Participant might owe as a result of the grant, holding, vesting, exercise,
              or payment of any Award under the Plan.

          

     

    	15.6	
            Non-Qualified Deferred Compensation.

          

     

    	(a)	
            If any Award would be considered deferred compensation as defined under Code Section 409A and would fail to meet the requirements of Code Section 409A, then such
              Award shall be null and void; provided, however, that the Committee may permit deferrals of compensation pursuant to the terms of a Participant’s Award Agreement, a separate plan, or a subplan which (in each case) meets the requirements of
              Code Section 409A.  Additionally, to the extent any Award is subject to Code Section 409A, notwithstanding any provision herein to the contrary, the Plan shall not permit the acceleration of the time or schedule of any distribution related to
              such Award, except as permitted by Code Section 409A.

          

     

    	(b)	
            Notwithstanding any provisions of the Plan to the contrary, in no event shall any deferral under Section 18.6 be permitted if the Committee determines that such
              deferral would result in the imposition of additional tax under Code Section 409A.

          

     

    
      -19-

      
        

    

    	(c)	
            The Committee shall not extend the period to exercise an Option or Stock Appreciation Right to the extent that such extension would cause the Option or Stock
              Appreciation Right to become subject to Code Section 409A.  An Award Agreement may provide that the period of time over which an NQSO may be exercised shall be automatically extended if on the scheduled expiration date of such Option the
              Participant’s exercise of such Option would violate applicable securities laws; provided, however, that during such extended exercise period the Option
              may only be exercised to the extent the Option was exercisable in accordance with its terms immediately prior to such scheduled expiration date; provided further, however, that such extended exercise period shall end not later than thirty days after the exercise of such Option first would no longer violate
              such laws.

          

     

    	(d)	
            Unless the Committee provides otherwise in an Award Agreement, each Restricted Stock Unit, Performance Unit, Performance Share, Cash-Based Award and/or Other
              Stock-Based Award shall be paid in full to the Participant no later than the fifteenth day of the third month after the end of the first calendar year in which such Award is no longer subject to a “substantial risk of forfeiture” within the
              meaning of Code Section 409A.  If the Committee provides in an Award Agreement that a Restricted Stock Unit, Performance Unit, Performance Share, Cash-Based Award or Other Stock-Based Award is intended to be subject to Code Section 409A, the
              Award Agreement shall include terms that are intended to satisfy the requirements of Code Section 409A.

          

     

    	(e)	
            No Dividend Equivalents shall relate to Shares underlying an Option or SAR unless such Dividend Equivalent rights are explicitly set forth as a separate
              arrangement and do not cause any such Option or SAR to be subject to Code Section 409A.

          

     

    	(f)	
            Notwithstanding any other provisions of the Plan or any Award Agreement to the contrary, if a Termination that is not a Separation from Service occurs, and
              payment or distribution of an Award constituting deferred compensation subject to Code Section 409A would otherwise be made or commence on the date of such Termination (pursuant to the Plan, the Award Agreement or otherwise), (i) the vesting
              of such Award shall accelerate in accordance with the Plan and the Award Agreement, (ii) such payment or distribution shall not be made or commence prior to the earliest date on which Code Section 409A permits such payment or distribution to
              be made or commence without additional taxes or penalties under Code Section 409A, and (iii) in the event any such payment or distribution is deferred in accordance with the immediately preceding clause (ii), such payment or distribution that
              would have been made prior to the deferred payment or commencement date, but for Code Section 409A, shall be paid or distributed on such earliest payment or commencement date, together, if determined by the Committee, with interest at the
              rate established by the Committee.

          

     

    	(g)	
            Notwithstanding any other provisions of the Plan or any Award Agreement to the contrary, if a Change of Control that is not a Qualified Change of Control occurs,
              and payment or distribution of an Award constituting deferred compensation subject to Code Section 409A would otherwise be made or commence on the date of such Change of Control (pursuant to the Plan, the Award Agreement or otherwise),
              (i) the vesting of such Award shall accelerate in accordance with the Plan and the Award Agreement, (ii) such payment or distribution shall not be made or commence prior to the earliest date on which Code Section 409A permits such payment or
              distribution to be made or commence without additional taxes or penalties under Code Section 409A, and (iii) in the event any such payment or distribution is deferred in accordance with the immediately preceding clause (ii), such payment or
              distribution that would have been made prior to the deferred payment or commencement date, but for Code Section 409A, shall be paid or distributed on such earliest payment or commencement date, together, if determined by the Committee, with
              interest at the rate established by the Committee.

          

     

    	(h)	
            Although the Company intends to administer the Plan so that Awards will be exempt from, or will comply with, the requirements of Code Section 409A, the Company
              does not warrant that any Award under the Plan will qualify for favorable tax treatment under Code Section 409A or any other provision of federal, state, local, or non-United States law.  The Company shall not be liable to any Participant for
              any tax, interest, or penalties the Participant might owe as a result of the grant, holding, vesting, exercise, or payment of any Award under the Plan.

          

     

    
      -20-

      
        

    

    	16.	
            LIMITS OF LIABILITY; INDEMNIFICATION

          

     

    	16.1	
            Limits of Liability.

          

     

    	(a)	
            Any liability of the Company or a Subsidiary or Affiliate to any Participant with respect to any Award shall be based solely upon contractual obligations created
              by the Plan and the Award Agreement.

          

     

    	(b)	
            None of the Company, any Subsidiary, any Affiliate, any member of the Board or the Committee or any other person participating in any determination of any
              question under the Plan, or in the interpretation, administration or application of the Plan, shall have any liability, in the absence of bad faith, to any party for any action taken or not taken in connection with the Plan, except as may
              expressly be provided by statute.

          

     

    	(c)	
            Each member of the Committee, while serving as such, shall be considered to be acting in his or her capacity as a director of the Company.  Members of the Board
              of Directors 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.

          

     

    	(d)	
            The Committee may, with the approval of the Board, employ such attorneys and/or consultants, accountants, appraisers, brokers, agents and other persons, any of
              whom may be an Employee, as the Committee deems necessary or appropriate.  The Committee, the Company and its officers and Directors shall be entitled to rely upon the advice, opinions or valuations of any such persons.  The Committee shall
              not incur any liability for any action taken in good faith in reliance upon the advice of such counsel or other persons.

          

     

    	(e)	
            The Company shall not be liable to a Participant or any other person as to: (i) the non-issuance of Shares as to which the Company has been unable to obtain from
              any regulatory body having relevant jurisdiction the authority deemed by the Committee or the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, and (ii) any tax consequence expected, but not realized,
              by any Participant or other person due to the receipt, exercise or settlement of any Option or other Award.

          

     

    	16.2	
            Indemnification.  Subject to the requirements of Delaware law, each
              individual who is or shall have been a member of the Committee or of the Board, or an officer of the Company to whom authority was delegated in accordance with Article 2, shall be indemnified and held harmless by the Company against and from
              any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be
              involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in
              any such action, suit, or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf,
              unless such loss, cost, liability, or expense is a result of the individual’s own willful misconduct or except as provided by statute.  The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to
              which such individual 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 or hold harmless such individual.

          

     

    	17.	
            SUCCESSORS.  All obligations of the Company under the Plan with respect
              to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the
              business and/or assets of the Company.

          

     

    	18.	
            MISCELLANEOUS

          

     

    	18.1	
            Drafting Context; Captions.  Except where otherwise indicated by the
              context, any masculine term used herein also shall include the feminine; the plural shall include the singular and the singular shall include the plural.  The words “Article,” “Section,” and “paragraph” herein shall refer to provisions of the
              Plan, unless expressly indicated otherwise.  The words “include,” “includes,” and “including” herein shall be deemed to be followed by “without limitation” whether or not they are in fact followed by such words or words of similar import,
              unless the context otherwise requires.  The headings and captions appearing herein are inserted only as a matter of convenience.  They do not define, limit, construe, or describe the scope or intent of the provisions of the Plan.

          

     

    
      -21-

      
        

    

    	18.2	
            Forfeiture Events.

          

     

    	(a)	
            Notwithstanding any provision of the Plan to the contrary, the Committee shall have the authority to determine (and may so provide in any Agreement) that a
              Participant’s (including his or her estate’s, beneficiary’s or transferee’s) rights (including the right to exercise any Option or SAR), payments and benefits with respect to any Award shall be subject to reduction, cancellation, forfeiture
              or recoupment (to the extent permitted by applicable law) in the event of the Participant’s Termination for Cause or due to voluntary resignation; serious misconduct; violation of the Company’s or a Subsidiary’s or Affiliate’s policies;
              breach of fiduciary duty; unauthorized disclosure of any trade secret or confidential information of the Company or a Subsidiary or Affiliate; breach of applicable non-competition, non-solicitation, confidentiality or other restrictive
              covenants; or other conduct or activity that is in competition with the business of the Company or any Subsidiary or Affiliate, or otherwise detrimental to the business, reputation or interests of the Company and/or any Subsidiary or
              Affiliate; or upon the occurrence of certain events specified in the applicable Award Agreement (in any such case, whether or not the Participant is then an Employee, Non-Employee Director or Consultant).  The determination of whether a
              Participant’s conduct, activities or circumstances are described in the immediately preceding sentence shall be made by the Committee in its good faith discretion, and pending any such determination, the Committee shall have the authority to
              suspend the exercise, payment, delivery or settlement of all or any portion of such Participant’s outstanding Awards pending an investigation of the matter.

          

     

    	(b)	
            If the Company is required to prepare an accounting restatement (i) due to the material non-compliance of the Company, as a result of misconduct, with any
              financial reporting requirement under the securities laws, if a Participant knowingly or grossly negligently engaged in such misconduct, or knowingly or grossly negligently failed to prevent such misconduct, or if a Participant is one of the
              individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002, the Participant shall reimburse the Company the amount of any payment in settlement of an Award earned or accrued during the twelve-month period
              following the first public issuance or filing with the SEC (whichever just occurred) of the financial document embodying such financial reporting requirement, and (ii) the Committee may in its discretion provide that if the amount earned
              under any Participant’s Award is reduced by such restatement, such Participant shall reimburse the Company the amount of any such reduction previously paid in settlement of such Award.

          

     

    	18.3	
            No Waiver.  No failure or delay in the exercise or assertion of any
              right of the Company hereunder will impair such right or be construed to be a waiver of, or acquiescence in, or create an estoppel with respect to any covenant herein, nor will any single or partial exercise of any such right preclude other
              or further exercise thereof or of any other right.

          

     

    	18.4	
            Severability.  Any term or provision hereof that is held by a court of
              competent jurisdiction or other authority to be invalid, void or unenforceable in any situation in any jurisdiction will not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability
              of the invalid, void or unenforceable term or provision in any other situation or in any other jurisdiction.  If the final judgment of a court of competent jurisdiction or other authority declares any term or provision hereof invalid, void or
              unenforceable, the court or other authority making such determination will have the power to and will, subject to the discretion of such body, reduce the scope, duration, area or applicability of the term or provision, to delete specific
              words or phrases, or to replace any invalid, void or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision.

          

     

    
      -22-

      
        

    

    	18.5	
            Transfer, Leave of Absence.  For purposes of the Plan, a transfer of an
              Employee from the Company to an Affiliate or Subsidiary (or, for purposes of any ISO granted under the Plan, only a Subsidiary), or vice versa, or from one Affiliate or Subsidiary to another (or in the case of an ISO, only from one Subsidiary
              to another), and a leave of absence, duly authorized in writing by the Company or a Subsidiary or Affiliate, shall not be deemed a Termination of the Employee for purposes of the Plan or with respect to any Award (in the case of ISOs, to the
              extent permitted by the Code).  The Committee shall have the discretion to determine the effects upon any Award, upon an individual’s status as an Employee, Non-Employee Director or Consultant for purposes of the Plan (including whether a
              Participant shall be deemed to have experienced a Termination or other change in status) and upon the exercisability, vesting, termination or expiration of any Award in the case of: (a) any Participant who is employed by an entity that ceases
              to be an Affiliate or Subsidiary (whether due to a spin-off or otherwise), (b) any transfer of a Participant between locations of employment with the Company, an Affiliate, and/or Subsidiary or between the Company, an Affiliate or Subsidiary
              or between Affiliates or Subsidiaries, (c) any leave of absence of a Participant, (d) any change in a Participant’s status from an Employee to a Consultant or a Non-Employee Director, or vice versa; and (e) upon approval by the Committee, any
              Employee who experiences a Termination but becomes employed by a partnership, joint venture, corporation or other entity not meeting the requirements of an Affiliate or Subsidiary, subject, in each case, to the requirements of Code
              Section 422 applicable to any ISOs and Code Section 409A applicable to any Options and SARs.

          

     

    	18.6	
            Exercise and Payment of Awards.  An Award shall be deemed exercised or
              claimed when the Secretary of the Company or any other Company official or other person designated by the Committee for such purpose receives appropriate written notice from a Participant, in form acceptable to the Committee, together with
              payment of the applicable Option Price, Grant Price or other purchase price, if any, and compliance with Article 13, in accordance with the Plan and such Participant’s Award Agreement.

          

     

    	18.7	
            Deferrals.  To the extent provided in the Award Agreement, the Committee
              may permit or require a Participant to defer such Participant’s receipt of the payment of cash or the delivery of Shares that would otherwise be due to such Participant by virtue of the lapse or waiver of the Period of Restriction or other
              restrictions with respect to Restricted Stock or the payment or satisfaction of Restricted Stock Units, Performance Units, Performance Shares, Cash-Based Awards or Other Stock-Based Awards.  If any such deferral election is required or
              permitted, (a) such deferral shall represent an unfunded and unsecured obligation of the Company and shall not confer the rights of a stockholder unless and until Shares are issued thereunder; (b) the number of Shares subject to such deferral
              shall, until settlement thereof, be subject to adjustment pursuant to Section 3.2; and (c) the Committee shall establish rules and procedures for such deferrals and payment or settlement thereof, which may be in cash, Shares or any
              combination thereof, and such deferrals may be governed by the terms and conditions of any deferred compensation plan of the Company or Affiliate specified by the Committee for such purpose.

          

     

    	18.8	
            Loans.  The Company may, in the discretion of the Committee, extend one
              or more loans to Participants in connection with the exercise or receipt of an Award granted to any such Participant; provided, however, that the Company shall not extend loans to any Participant if prohibited by law or the rules of any stock
              exchange or quotation system on which the Company’s securities are listed.  The terms and conditions of any such loan shall be established by the Committee.

          

     

    	18.9	
            No Effect on Other Plans.  Neither the adoption of the Plan nor anything
              contained herein shall affect any other compensation or incentive plans or arrangements of the Company or any Subsidiary or Affiliate, or prevent or limit the right of the Company or any Subsidiary or Affiliate to establish any other forms of
              incentives or compensation for their directors, officers, eligible employees or consultants or grant or assume options or other rights otherwise than under the Plan.

          

     

    	18.10	
            Section 16 of Exchange Act.  Unless otherwise stated in the Award
              Agreement, notwithstanding any other provision of the Plan, any Award granted to an Insider shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including Rule 16b-3)
              that are requirements for the application of such exemptive rule, and the Plan and the Award Agreement shall be deemed amended to the extent necessary to conform to such limitations.

          

     

    
      -23-

      
        

    

    	18.11	
            Requirements of Law; Limitations on Awards.

          

     

    	(a)	
            The granting of Awards and the issuance of Shares under the Plan shall be subject to all applicable laws, rules, and regulations, and to such approvals by any
              governmental agencies or national securities exchanges as may be required.

          

     

    	(b)	
            If at any time the Committee shall determine, in its discretion, that the listing, registration and/or qualification of Shares upon any securities exchange or
              under any state, Federal or non-United States law, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of, or in connection with, the sale or purchase of Shares hereunder, the Company shall
              have no obligation to allow the grant, exercise or payment of any Award, or to issue or deliver evidence of title for Shares issued under the Plan, in whole or in part, unless and until such listing, registration, qualification, consent
              and/or approval shall have been effected or obtained, or otherwise provided for, free of any conditions not acceptable to the Committee.

          

     

    	(c)	
            If at any time counsel to the Company shall be of the opinion that any sale or delivery of Shares pursuant to an Award is or may be in the circumstances unlawful
              or result in the imposition of excise taxes on the Company or any Subsidiary or Affiliate under the statutes, rules or regulations of any applicable jurisdiction, the Company shall have no obligation to make such sale or delivery, or to make
              any application or to effect or to maintain any qualification or registration under the Securities Act, or otherwise with respect to Shares or Awards and the right to exercise or payment of any Option or Award shall be suspended until, in the
              opinion of such counsel, such sale or delivery shall be lawful or will not result in the imposition of excise taxes on the Company or any Subsidiary or Affiliate.

          

     

    	(d)	
            Upon termination of any period of suspension under this Section 19.10(d), any Award affected by such suspension which shall not then have expired or terminated
              shall be reinstated as to all Shares available before such suspension and as to the Shares which would otherwise have become available during the period of such suspension, but no suspension shall extend the term of any Award.

          

     

    	(e)	
            The Committee may require each person receiving Shares in connection with any Award under the Plan to represent and agree with the Company in writing that such
              person is acquiring such Shares for investment without a view to the distribution thereof, and/or provide such other representations and agreements as the Committee may prescribe.  The Committee, in its absolute discretion, may impose such
              restrictions on the ownership and transferability of the Shares purchasable or otherwise receivable by any person under any Award as it deems appropriate.  Any such restrictions shall be set forth in the applicable Award Agreement, and the
              certificates evidencing such shares may include any legend that the Committee deems appropriate to reflect any such restrictions.

          

     

    	(f)	
            An Award and any Shares received upon the exercise or payment of an Award shall be subject to such other transfer and/or ownership restrictions and/or legending
              requirements as the Committee may establish in its discretion and may be referred to on the certificates evidencing such Shares, including restrictions under applicable Federal securities laws, under the requirements of any stock exchange or
              market upon which such Shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such Shares.

          

     

    	18.12	
            Participants Deemed to Accept Plan.  By accepting any benefit under the
              Plan, each Participant and each person claiming under or through any such Participant shall be conclusively deemed to have indicated their acceptance and ratification of, and consent to, all of the terms and conditions of the Plan and any
              action taken under the Plan by the Board, the Committee or the Company, in any case in accordance with the terms and conditions of the Plan.

          

     

    	18.13	
            Governing Law.  The Plan and each Award Agreement shall be governed by
              the laws of the State of Delaware applicable to contracts made in and to be performed solely within the State of Delaware.

          

     

    
      -24-

      
        

    

    	18.14	
            Enforcement.

          

     

    	(a)	
            Any dispute arising under, related to or otherwise involving this Agreement or the Transactions will be litigated in the Court of Chancery of the State of
              Delaware.  The Company agrees and by accepting an Award each Participant agrees to submit to the jurisdiction of the Court of Chancery of the State of Delaware and waive trial by jury.  The Company and the Participants do not consent to
              mediate any disputes before the Court of Chancery.

          

     

    	(b)	
            Notwithstanding the foregoing, if there is a determination that the Court of Chancery of the State of Delaware does not have subject matter jurisdiction over any
              dispute arising under this Agreement, the Company agrees and each Participant by accepting an Award agrees that: (i) such dispute will be adjudicated only by, and will be subject to the exclusive jurisdiction and venue of, the Superior Court
              of Delaware of and for the County of New Castle; (ii) if the Superior Court of Delaware does not have subject matter jurisdiction over such dispute, then such dispute will be adjudicated only by, and will be subject to the exclusive
              jurisdiction and venue of, the Complex Commercial Litigation Division of the Superior Court of the State of Delaware of and for the County of Newcastle; and (iii) if the Complex Commercial Litigation Division of the Superior Court of the
              State of Delaware does not have subject matter jurisdiction over such dispute, then such dispute will be adjudicated only by, and will be subject to the exclusive jurisdiction and venue of, the United States District Court for the State of
              Delaware.

          

     

    	(c)	
            The Company and each Participant (by accepting an Award) irrevocably: (i) consents to submit itself to the personal jurisdiction of the Delaware courts in
              connection with any dispute arising under this Agreement; (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for relief from the Delaware courts or any other court or governmental
              body; and (iii) agrees that it will not bring any action arising under this Agreement in any court other than the Delaware courts.  THE COMPANY AND EACH PARTICIPANT (BY ACCEPTING AN AWARD) IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT
              MAY HAVE TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF THIS AGREEMENT, THE NEGOTIATION OR ENFORCEMENT HEREOF, THE ADMINISTRATION HEREOF, ANY AWARD AGREEMENT OR ANY
              AWARD.

          

     

    	(d)	
            The court shall award attorneys’ fees and expenses and costs to the substantially prevailing party in any action (including appeals) for the enforcement or
              interpretation of this Agreement.  If there are cross claims in such action (including appeals), the court will determine which party is the substantially prevailing party as to the action as a whole and award fees, expenses and costs to such
              party.

          

     

    	18.15	
            Plan Unfunded.  The Plan shall be unfunded.  The Company shall not be
              required to establish any special or separate fund or to make any other segregation of assets to assure the issuance of Shares or the payment of cash upon exercise or payment of any Award.  Proceeds from the sale of Shares pursuant to Options
              or other Awards granted under the Plan shall constitute general funds of the Company.

          

     

    	18.16	
            Uncertificated Shares.  To the extent that the Plan provides for
              issuance of certificates to reflect the transfer of Shares, the transfer of such Shares may nevertheless be effected on a non-certificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange.

          

     

    	18.17	
            No Fractional Shares.  An Option or other Award shall not be exercisable
              with respect to a fractional Share or the lesser of fifty shares or the full number of Shares then subject to the Option or other Award.  No fractional Shares shall be issued upon the exercise or payment of an Option or other Award.

          

     

    	18.18	
            Participants Based Outside of the United States.  Notwithstanding any
              provision of the Plan to the contrary, in order to comply with the laws or practices of countries other than the United States in which the Company, any Affiliate, and/or any Subsidiary operates or has Employees, Non-Employee Directors or
              Consultants, the Committee, in its sole discretion, shall have the power and authority to:

          

     

    	(a)	
            Determine which Affiliates and Subsidiaries shall be covered by the Plan;

          

     

    
      -25-

      
        

    

    	(b)	
            Determine which Employees, Non-Employee Directors and/or Consultants outside the United States are eligible to participate in the Plan;

          

     

    	(c)	
            Grant Awards (including substitutes for Awards), and modify the terms and conditions of any Awards, on such terms and conditions as the Committee determines
              necessary or appropriate to permit participation in the Plan by individuals otherwise eligible to so participate who are non-United States nationals or employed outside the United States, or otherwise to comply with applicable non-United
              States laws or conform to applicable requirements or practices of jurisdictions outside the United States;

          

     

    	(d)	
            Establish subplans and adopt or modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable.  Any
              subplans and modifications to Plan terms and procedures established under this Section 19.16(d) by the Committee shall be attached to the Plan as appendices; and

          

     

    	(e)	
            Take any action, before or after an Award is made, that the Committee, in its discretion, deems advisable to obtain approval or comply with any necessary local
              government regulatory exemptions or approvals.

          

     

    Notwithstanding the above, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate any applicable law.

     

    	19.	
            DEFINITIONS.  Whenever used in the Plan, the following terms shall have
              the meanings set forth below, and when the meaning is intended, the initial letter of the word shall be capitalized:

          

     

    	19.1	
            “Affiliate” means any entity (other than the Company and any Subsidiary) (a) in which the Company owns or controls, directly or indirectly fifty percent or more
              of the voting power or economic interests of such entity, (b) that is affiliated with the Company through stock or equity ownership or otherwise and is designated as an Affiliate for purposes of the Plan by the Committee, (c) a partnership of
              which the Company or a Subsidiary of the Company is the general partnership or (d) a limited liability company of which the Company or a Subsidiary of the Company is the manager or managing member.

          

     

    	19.2	
            “Assumed” means that pursuant to a transaction resulting in a Change of Control, either (a) the Award is expressly affirmed by the Company or (b) the contractual
              obligations represented by the Award are expressly assumed (and not simply by operation of law) by the surviving or successor corporation or entity to the Company, or any parent or subsidiary of either thereof, or any other corporation or
              entity that is a party to the transaction resulting in the Change of Control, in connection with such Change of Control, with appropriate adjustments to the number and kind of securities of such surviving or successor corporation or entity,
              or such other applicable parent, subsidiary, corporation or entity, subject to the Award and the exercise or purchase price thereof, which preserves the compensation element of the Award existing at the time of such Change of Control
              transaction, and provides for subsequent payout in accordance with the same (or more favorable) payment and vesting schedule applicable to such Award, as determined in accordance with the instruments evidencing the agreement to assume the
              Award.  The determination of Award comparability for this purpose shall be made by the Committee, and its determination shall be final, binding and conclusive.

          

     

    	19.3	
            “Award” means, individually or collectively, a grant under the Plan of Non-Qualified Stock Options, Incentive Stock Options, Stock Appreciation Rights,
              Restricted Stock Awards, Restricted Stock Units, Performance Shares, Performance Units, Cash-Based Awards, and Other Stock-Based Awards.

          

     

    	19.4	
            “Award Agreement” means either: (a) a written agreement entered into by the Company and a Participant setting forth the terms and provisions applicable to an
              Award granted under the Plan, or (b) a written or electronic statement issued by the Company to a Participant describing the terms and provisions of such Award, including any amendment or modification thereof.  The Committee may provide for
              the use of electronic, internet or other non-paper Award Agreements, and the use of electronic, internet or other non-paper means for the acceptance thereof and actions thereunder by a Participant.

          

     

    	19.5	
            “Beneficial Ownership” (including correlative terms) shall have the meaning given such term in Rule 13d-3 promulgated under the Exchange Act.

          

     

    
      -26-

      
        

    

    	19.6	
            “Board” or “Board of Directors” means the Board of Directors of the Company.

          

     

    	19.7	
            “Cash-Based Award” means an Award, whose value is determined by the Committee, granted to a Participant, as described in Article 8.

          

     

    	19.8	
            “Cause” shall have the definition given such term in a Participant’s Award Agreement, or in the absence of any such definition, as determined in good faith by
              the Committee.

          

     

    	19.9	
            “Change of Control” means the occurrence of any of the following:

          

     

    	(a)	
            an acquisition in one transaction or a series of related transactions (other than directly from the Company or pursuant to Awards granted under the Plan or
              compensatory options or other similar awards granted by the Company) by any Person of any Voting Securities of the Company, immediately after which such Person has Beneficial Ownership of more than fifty percent of the combined voting power
              of the Company’s then outstanding Voting Securities; provided, however, that in determining whether a Change of Control has occurred pursuant to this
              Section 2.9(a), Voting Securities of the Company which are acquired in a Non-Control Acquisition shall not constitute an acquisition that would cause a Change of Control; or

          

     

    	(b)	
            any Person acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such Person), other than directly from
              the Company or pursuant to Awards granted under the Plan or compensatory options or other similar awards granted by the Company, Beneficial Ownership of Voting Securities of the Company possessing thirty-five percent or more of the combined
              voting power of the Company’s then outstanding Voting Securities; provided, however, that in determining whether a Change of Control has occurred pursuant to this Section 2.9(b), Voting Securities of the Company which are acquired in a
              Non-Control Acquisition shall not constitute an acquisition that would cause a Change of Control; or

          

     

    	(c)	
            the individuals who, immediately prior to the Effective Date, are members of the Board (the “Company Incumbent Board”) cease for any reason to constitute at
              least a majority of the members of the Board; provided, however, that if the election, or nomination for election of any new director was approved by a vote of at least a majority of the Company Incumbent Board, such new director shall, for
              purposes of the Plan, be considered as a member of the Company Incumbent Board; provided further, however, that no individual shall be considered a member of the Company Incumbent Board if such individual initially assumed office as a result
              of either an actual or threatened “Election Contest” (as described in Rule 14a-12(c) promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board (a
              “Company Proxy Contest”) including by reason of any agreement intended to avoid or settle any Election Contest or Company Proxy Contest; or

          

     

    	(d)	
            the consummation of any merger, consolidation, recapitalization or reorganization involving the Company unless:

          

     

    	

          	(i)	
            the stockholders of the Company, immediately before such merger, consolidation, recapitalization or reorganization, own, directly or indirectly, immediately
              following such merger, consolidation, recapitalization or reorganization, more than fifty percent (50%) of the combined voting power of the outstanding Voting Securities of the corporation resulting from such merger or consolidation or
              reorganization (the “Company Surviving Corporation”) in substantially the same proportion as their ownership of the Voting Securities of the Company immediately before such merger, consolidation, recapitalization or reorganization; and

          

     

    	

          	(ii)	
            the individuals who were members of the Company Incumbent Board immediately prior to the execution of the agreement providing for such merger, consolidation,
              recapitalization or reorganization constitute at least a majority of the members of the board of directors of the Company Surviving Corporation, or a corporation Beneficially Owning, directly or indirectly, a majority of the voting securities
              of the Company Surviving Corporation, and

          

     

    
      -27-

      
        

    

    	

          	(iii)	
            no Person, other than (A) the Company, (B) any Related Entity, (C) any employee benefit plan (or any trust forming a part thereof) that, immediately prior to
              such merger, consolidation, recapitalization or reorganization, was maintained by the Company, the Company Surviving Corporation, or any Related Entity or (D) any Person who, together with its Affiliates, immediately prior to such merger,
              consolidation, recapitalization or reorganization had Beneficial Ownership of more than fifty percent of the then outstanding Voting Securities of the Company, owns, together with its Affiliates, Beneficial Ownership of more than fifty
              percent of the combined voting power of the Company Surviving Corporation’s then outstanding Voting Securities (a transaction described in clauses (d)(i) through (d)(iii) is referred to herein as a “Non-Control Transaction”); or

          

     

    	(e)	
            any approval by the Company’s stockholders of any plan or proposal for the liquidation or dissolution of the Company; or

          

     

    	(f)	
            any sale, lease, exchange, transfer or other disposition (in one transaction or a series of related transactions) of all or substantially all of the assets or
              business of the Company to any Person (other than (A) a transfer or distribution to a Related Entity, or (B) a transfer or distribution to the Company’s stockholders of the stock of a Related Entity or any other assets).

          

     

    Notwithstanding the foregoing, a Change of Control shall not be deemed to occur solely because any Person (the “Subject Person”) acquired Beneficial
      Ownership of more than fifty percent of the combined voting power of the then outstanding Voting Securities of the Company as a result of the acquisition of Voting Securities of the Company by the Company which, by reducing the number of Voting
      Securities of the Company then outstanding, increases the proportional number of shares Beneficially Owned by the Subject Persons, provided that if a Change of Control would occur (but for the operation of this sentence) as a result of the
      acquisition of Voting Securities by the Company and (1) before such share acquisition by the Company the Subject Person becomes the Beneficial Owner of any new or additional Voting Securities of the Company in a related transaction or (2) after such
      share acquisition by the Company the Subject Person becomes the Beneficial Owner of any new or additional Voting Securities of the Company which in either case increases the percentage of the then outstanding Voting Securities of the Company
      Beneficially Owned by the Subject Person, then a Change of Control shall be deemed to occur.

     

    Solely for purposes of this Section 19.9, (1) “Affiliate” shall mean, with respect to any Person, any other Person that, directly or indirectly,
      controls, is controlled by, or is under common control with, such Person, and (2) “control” (including with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as applied to any Person, means the
      possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities or by contract or otherwise.  Any Relative (for this purpose,
      “Relative” means a spouse, child, parent, parent of spouse, sibling or grandchild) of an individual shall be deemed to be an Affiliate of such individual for this purpose.  None of the Company, any bona fide underwriter or placement agent engaged by
      the Company or any Person controlled by the Company shall be deemed to be an Affiliate of any holder of Shares.

     

    	19.10	
            “Code” means the Internal Revenue Code of 1986, as it may be amended from time to time, including rules and regulations promulgated thereunder and successor
              provisions and rules and regulations thereto.

          

     

    	19.11	
            “Committee” means the Compensation Committee of the Board of Directors or a subcommittee thereof, or such other committee designated by the Board to administer
              the Plan each of whom satisfies such criteria of independence as the Board may establish and such additional regulatory or listing requirements as the Board may determine to be applicable or appropriate; provided, however, that with respect
              to Awards hereunder intended to qualify as performance-based compensation under Code Section 162(m), the Committee shall consist solely of two or more members of the Board who are not Employees and who otherwise qualify as “outside directors”
              within the meaning of Code Section 162(m).

          

     

    	19.12	
            “Company” means Great Elm Group, Inc., a Delaware corporation.

          

     

    
      -28-

      
        

    

    	19.13	
            “Consultant” means an independent contractor who is a natural person and performs services for the Company or a Subsidiary or Affiliate in a capacity other than
              as an Employee or Director.

          

     

    	19.14	
            “Deferred Stock Unit” means a right to receive a specified number of shares of Shares during specified time periods.

          

     

    	19.15	
            “Director” means any individual who is a member of the Board of Directors of the Company.

          

     

    	19.16	
            “Dividend Equivalents” means the equivalent value (in cash or Shares) of dividends that would otherwise be paid on the Shares subject to an Award but that have
              not been issued or delivered, as described in Article 10.

          

     

    	19.17	
            “Effective Date” means June 15, 2016, the date the Plan was originally approved (prior to its amendment and restatement) by the Company’s stockholders as
              contemplated in Section 1.1.

          

     

    	19.18	
            “Employee” means any person designated as an employee of the Company, a Subsidiary and/or an Affiliate on the payroll records thereof.  An Employee shall not
              include any individual during any period he or she is classified or treated by the Company, a Subsidiary or an Affiliate as an independent contractor, a consultant, or any employee of an employment, consulting, or temporary agency or any
              other entity other than the Company, a Subsidiary and/or an Affiliate without regard to whether such individual is subsequently determined to have been, or is subsequently retroactively reclassified as a common-law employee of the Company, a
              Subsidiary and/or an Affiliate during such period.  For purposes of the Plan, upon approval by the Committee, the term Employee may also include Employees whose employment with the Company, a Subsidiary or an Affiliate has been terminated
              subsequent to being granted an Award under the Plan.  For the avoidance of doubt, a Director who would otherwise be an “Employee” within the meaning of this Section 19.17 shall be considered an Employee for purposes of the Plan.

          

     

    	19.19	
            “Exchange Act” means the Securities Exchange Act of 1934, as it may be amended from time to time, including the rules and regulations promulgated thereunder and
              successor provisions and rules and regulations thereto.

          

     

    	19.20	
            “Fair Market Value” means the fair market value of the Shares as determined by the Committee by the reasonable application of such reasonable valuation method as
              the Committee deems appropriate; provided, however, that, with respect to ISOs, for purposes of Section 5.3, such fair market value shall be determined
              subject to Code Section 422(c)(7); provided further, however, that if the Shares are readily tradable on an established securities market, Fair Market
              Value on any date shall be the last sale price reported for the Shares on such market on such date or, if no sale is reported on such date, on the last date preceding such date on which a sale was reported.  In each case, the Committee shall
              determine Fair Market Value in a manner that satisfies the applicable requirements of Code Section 409A.

          

     

    	19.21	
            “Fiscal Year” means the Company’s fiscal year, or such other consecutive twelve-month period as the Committee may select.

          

     

    	19.22	
            “Full Value Award” means any Award other than an Option, Stock Appreciation Right or Cash-Based Award.

          

     

    	19.23	
            “Freestanding SAR” means an SAR that is granted independently of any Options, as described in Article 6.

          

     

    	19.24	
            “Good Reason” shall have the definition given such term in a Participant’s Award Agreement, or in the absence of any such definition, as determined in good faith
              by the Committee.

          

     

    	19.25	
            “Grant Price” means the price established at the time of grant of an SAR pursuant to Article 6, used to determine whether there is any payment due upon exercise
              of the SAR.

          

     

    	19.26	
            “Incentive Stock Option” or “ISO” means a right to purchase Shares under the Plan in accordance with the terms and conditions set forth in Article VI and which
              is designated as an Incentive Stock Option and which is intended to meet the requirements of Code Section 422.

          

     

    
      -29-

      
        

    

    	19.27	
            “Insider” means an individual who is, on the relevant date, an officer, director or ten percent Beneficial Owner of any class of the Company’s equity securities
              that is registered pursuant to Section 12 of the Exchange Act, as determined by the Committee in accordance with Section 16 of the Exchange Act.

          

     

    	19.28	
            “Non-Control Acquisition” means an acquisition (whether by merger, stock purchase, asset purchase or otherwise) by (a) an employee benefit plan (or a trust
              forming a part thereof) maintained by (i) the Company or (ii) any corporation or other Person of which fifty percent or more of its total value or total voting power of its Voting Securities or equity interests is owned, directly or
              indirectly, by the Company (a “Related Entity”); (b) the Company or any Related Entity; (c) any Person in connection with a Non-Control Transaction; (d) any bona fide underwriter or placement engaged engaged by the Company in connection with
              the placement of securities of the Company or a Related Entity or (e) any Person that owns, together with its Affiliates, Beneficial Ownership of fifty percent or more of the outstanding Voting Securities of the Company on the Effective Date.

          

     

    	19.29	
            “Non-Employee Director” means a Director who is not an Employee.

          

     

    	19.30	
            “Non-Qualified Stock Option” or “NQSO” means a right to purchase Shares under the Plan in accordance with Article 4 and which is not intended to meet the
              requirements of Section 422 of the Code or otherwise does not meet such requirements.

          

     

    	19.31	
            “Notice” means notice provided by a Participant to the Company in a manner prescribed by the Committee.

          

     

    	19.32	
            “Option” or “Stock Option” means an Incentive Stock Option or a Non-Qualified Stock Option, as described in Article 5.

          

     

    	19.33	
            “Option Price” means the price at which a Share may be purchased by a Participant pursuant to an Option.

          

     

    	19.34	
            “Other Stock-Based Award” means an equity-based or equity-related Award described in Section 9.1, granted in accordance with the terms and conditions set forth
              in Article 9, including Deferred Awards.

          

     

    	19.35	
            “Participant” means any eligible individual as set forth in Article 4 who
              holds one or more outstanding Awards.

          

     

    	19.36	
            “Performance Period” means the period of time during which the performance goals must be met in order to determine the degree of payout and/or vesting with
              respect to, or the amount or entitlement to, an Award.

          

     

    	19.37	
            “Performance Share” means an Award of a performance share, whose initial value is equal to the Fair Market Value of a Share on the date of grant, granted to a
              Participant, as described in Article 8.

          

     

    	19.38	
            “Performance Unit” means an Award of a performance unit, whose initial value is established by the Committee at the time of grant, granted to a Participant, as
              described in Article 8.

          

     

    	19.39	
            “Period of Restriction” means the period during which Shares of Restricted Stock or Restricted Stock Units are subject to a substantial risk of forfeiture, and,
              in the case of Restricted Stock, the transfer of Shares of Restricted Stock is limited in some way, as provided in Article 7.

          

     

    	19.40	
            “Person” means “person” as such term is used for purposes of Section 12(d) or 14(d) of the Exchange Act, including any individual, corporation, limited liability
              company, partnership, trust, unincorporated organization, government or any agency or political subdivision thereof, or any other entity or any group of persons.

          

     

    	19.41	
            “Plan” means this Great Elm Group, Inc. Amended and Restated 2016 Equity Incentive Compensation Plan, as amended from time to time.

          

     

    
      -30-

      
        

    

    	19.42	
            “Qualified Change of Control” means a Change of Control that qualifies as a change in the ownership or effective control of the Company, or in the ownership of a
              substantial portion of the assets of the Company, within the meaning of Code Section 409A(a)(2)(A)(v).

          

     

    	19.43	
            “Replaced” means that pursuant to a transaction resulting in a Change of Control, the Award is replaced with a comparable stock award or a cash incentive program
              by the Company, the surviving or successor corporation or entity to the Company, or any parent or subsidiary of either thereof, or any other corporation or entity that is a party to the transaction resulting in the Change of Control, in
              connection with such Change of Control, which preserves the compensation element of the Award existing at the time of such Change of Control transaction, and provides for subsequent payout in accordance with the same (or more favorable)
              payment and vesting schedule applicable to such Award, as determined in accordance with the instruments evidencing the agreement to assume the Award.  The determination of Award comparability for this purpose shall be made by the Committee,
              and its determination shall be final, binding and conclusive.

          

     

    	19.44	
            “Restricted Stock” means an Award granted to a Participant, subject to the Period of Restriction, pursuant to Article 7.

          

     

    	19.45	
            “Restricted Stock Unit” means an Award, whose value is equal to a Share, granted to a Participant, subject to the Period of Restriction, pursuant to Article 7.

          

     

    	19.46	
            “Rule 16b-3” means Rule 16b-3 under the Exchange Act, or any successor rule, as the same may be amended from time to time.

          

     

    	19.47	
            “Securities Act” means the Securities Act of 1933, as it may be amended from time to time, including the rules and regulations promulgated thereunder and
              successor provisions and rules and regulations thereto.

          

     

    	19.48	
            “Separation from Service” means a Termination that qualifies as a separation from service within the meaning of Code Section 409A(a)(2)(A)(i).

          

     

    	19.49	
            “Share” means a share of common stock, par value $0.001 per share, of the Company (including any new, additional or different stock or securities resulting from
              any change in corporate capitalization as listed in Section 3.2).

          

     

    	19.50	
            “Stock Appreciation Right” or “SAR” means an Award, granted alone (a “Freestanding SAR”) or in connection with a related Option (a “Tandem SAR”), designated as
              an SAR, pursuant to the terms of Article 6.

          

     

    	19.51	
            “Subsidiary” means any present or future corporation which is or would be a “subsidiary corporation” of the Company as the term is defined in Code
              Section 424(f).

          

     

    	19.52	
            “Substitute Awards” means Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for, options or other awards previously
              granted, or the right or obligation to grant future options or other awards, by a company acquired by the Company, a Subsidiary and/or an Affiliate or with which the Company, a Subsidiary and/or an Affiliate combines, or otherwise in
              connection with any merger, consolidation, acquisition of property or stock, or reorganization involving the Company, a Subsidiary or an Affiliate, including a transaction described in Code Section 424(a).

          

     

    	19.53	
            “Tandem SAR” means a SAR that is granted in connection with a related Option pursuant to Article 6.

          

     

    
      -31-

      
        

    

    	19.54	
            “Termination” means the time when a Participant ceases the performance of services for the Company, any Affiliate or Subsidiary, as applicable, for any reason,
              with or without Cause, including a Termination by resignation, discharge, death, disability or retirement, but excluding (a) a Termination where there is a simultaneous reemployment (or commencement of service) or continuing employment (or
              service) of a Participant by the Company, Affiliate or any Subsidiary, (b) at the discretion of the Committee, a Termination that results in a temporary severance, and (c) at the discretion of the Committee, a Termination of an Employee that
              is immediately followed by the Participant’s service as a Non-Employee Director.

          

     

    	19.55	
            “Voting Securities” shall mean, with respect to any Person that is a corporation, all outstanding voting securities of such Person entitled to vote generally in
              the election of the board of directors of such Person

          

     

     

    

    
      -32-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00350-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00350-of-00352.parquet"}]]