Document:

usx_Ex10_3

		
			EMPLOYMENT AND NONCOMPETITION AGREEMENT
		

		
			 
		

		
			 
		

		
			This Employment and Noncompetition Agreement (the “Agreement”) is entered into as of April 8, 2019, by and between U.S. XPRESS ENTERPRISES, INC., a Nevada corporation (the “Company”) and CAMRON RAMSDELL, an individual (the “Employee”).
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Employee hereby agree as follows:
		

		
			 
		

		
			ARTICLE I 
EMPLOYMENT AND TERM
		

		
			 
		

		
			Section 1.1.     Employment Duties. The Company hereby agrees to employ the Employee, and the Employee hereby accepts employment with the Company, upon the terms set forth in this Agreement. The Employee shall serve as the President of U.S. Xpress Ventures, a division of the Company to be newly created and which division may be incorporated into a separate subsidiary of Company. During the Term (as defined in Section 1.2 hereof), the Employee shall devote substantially all of his working time, attention, skill, and reasonable best efforts to the performance of his duties hereunder in a manner which will faithfully and diligently fu1iher the business and interests of the Company. Employee shall report directly to Eric Fuller, Chief Executive Officer of the Company, or his successor. Employee shall have such duties, authority, and responsibility as shall be determined from time to time by the Chief Executive Officer. In the event Employee is promoted during the term of this Agreement, the Agreement shall remain in effect. In the event Employee is demoted during the term of this Agreement, the parties shall in good faith negotiate any needed changes to the Agreement. The Employee agrees to abide by the rules, regulations, instructions, personnel practices, and polices of the Company and any changes therein which may be adopted from time to time by the Company and of which Employee has received notice.
		

		
			 
		

		
			Section 1.2.    Term.    This Agreement shall be effective on April 22, 2019 (the “Effective Date”) and shall continue until the fifth anniversary thereof (the “Original Term”), unless earlier terminated as provided in Article III hereof, provided that, on such fifth anniversary of the Effective Date and each annual anniversary thereafter (such date and each annual anniversary thereof, a “Renewal Date”), the Agreement shall be deemed to be automatically extended, upon the same terms and conditions, for successive periods of one year, unless either party provides written notice of its intention not to extend the term of the Agreement at least 90 days prior to the applicable Renewal Date. The duration of this Agreement is referred to herein as the “Employment Term”.
		

		
			 
		

		
			ARTICLE II
		

		
			COMPENSATION
		

		
			Section 2.1.    Base Salary. Subject to Section 3.2 hereof, the Company shall pay the Employee a biweekly salary of $13,461.54 ($350,000 annualized) for the Employment Term, subject to increases at the discretion of the Company (the “Base Salary”).
		

		
			 
		

		
			

		 

		

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			Such Base Salary shall be paid at such times and in such increments as are consistent with the Company's regular payroll practices for other comparable full-time employees of the Company.
		

		
			 
		

		
			Section 2.2.      Benefits and Perquisites.
		

		
			 
		

		
			(a)       General Benefits. Subject to the te1ms of the applicable benefit plan documents, during the Term of this Agreement, the Company shall provide the Employee with such health and welfare plans, retirement savings plan, and other benefits as are generally provided by the Company to other similarly situated executives of the Company, including, but not limited to, all benefits available under the Company's Xpre$$avings 401(k) Plan, Section 125 Cafeteria Plan, Section 105 Plan, Non-Qualified Deferred Compensation Plan, and such other employee benefit plans as may be adopted from time to time.
		

		
			(b)       Executive Benefits. The Company shall reimburse the Employee the cost for such major medical, dental and vision plans as elected by the Employee under the Company's Section 125 Plan, shall provide to Employee a car allowance in the amount of $300 biweekly, and shall pay the cost of executive disability insurance on behalf of the Employee. All of the benefits described herein shall be taxed as required by IRS regulations.
		

		
			Section 2.3.      Bonus Plan.
		

		
			(a)       Short Term Incentive Plan.    Employee shall be eligible to participate in the U.S. Xpress Annual Short Term Incentive Plan, or such other incentive plan as may be adopted from time to time, at the Executive Level. Subject to the approval of the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”), the target cash bonus applicable to Employee shall be 60% of Employee's Base earnings for plan year 2019, subject to the Company meeting defined goals as outlined in the Short Term Incentive Plan. Any payout under such Short Term Incentive Plan made in the first quarter of 2020 for Company performance in 2019.
		

		
			(b)       Sign-On Bonus. In addition, Employee shall receive a cash sign-on bonus in the amount of $150,000, payable during the first pay period of his employment. As additional sign-on bonus, and upon Employee's production of evidence that Coyote Logistics, LLC or its affiliated entities (“Coyote”) is enforcing a  repayment provision of a  Tuition Assistance Agreement entered into between Employee and Coyote on March 7, 2018, Company shall reimburse Employee for such amount as he is required to repay Coyote, not to exceed $67,040.00, which amount shall be grossed up by the amount of any FICA and federal and state income taxes thereon. In the event Employee voluntarily terminates his employment or is te1minated by the Company under Section 3.1(b) hereof within the Original Term, Employee agrees to repay the sign-on bonus in full within 90 days of such termination. In the event the Company terminates Employee's employment as a result of an injunction or other legal process issued by a court of competent jurisdiction which prohibits Employee from being employed by Company or its affiliates or performing the services for Company or its affiliates for which he was hired, Employee shall be required to repay the sign-on bonus only in the event he returns to employment with Coyote and remains eligible for Coyote's retention bonus and is not required to reimburse Coyote tuition  assistance.
		

		
			 
		

		
			 
		

		
			

		 

		

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			Section 2.4.    Equity Compensation.
		

		
			 
		

		
			(a)       Omnibus Plan. The Employee shall be eligible to participate in the U.S. Xpress Enterprises, Inc. 2018 Omnibus Incentive Plan, at such times and in such amounts as are approved by the Compensation Committee. For 2019, the Employee shall receive an award of restricted stock units, equivalent to forty percent (40%) of his Base Salary as prorated for the portion of the year for which he performed work for the Company.
		

		
			(b)       Performance Equity. As of the Effective Date of this Agreement, the Employee shall be granted an award of 160,000 Restricted Stock Units, which units shall vest upon achievement of predefined performance milestones to be determined by the Company and agreed to by Employee and set forth in a separate Restricted Stock Unit Award Agreement. The parties have discussed tentative initial performance milestones, as listed in the attached Exhibit B and agree to finalize such milestones, which shall include but are not limited to that contained in Exhibit B, during the first 90 days of employment.
		

		
			(c)       Sign-On Equity. As of the Effective Date of this Agreement, Employee shall be granted an award of 27,500 Restricted Stock Units, 12,500 of which shall vest immediately upon Employee's first day of employment with Company. The remaining 15,000 units shall vest upon the successful establishment, of a minimum viable product to include the successful operation of at least 100 tractors operating within U.S. Xpress Ventures (or such other entity as the Company establishes to replace U.S. Xpress Ventures).
		

		
			 
		

		
			Section 2.5.   Vacation; Paid Time-Off. During the Employment Term, the Employee will be entitled to take such paid vacation and other time off on a basis that is at least as favorable as that provided to other similarly situated executives of the Company. The Employee shall receive unlimited PTO.
		

		
			 
		

		
			Section 2.6. Deductions. The Company may withhold from any salary or benefits payable or otherwise conferred by this Agreement all federal, state, city, or other taxes as shall be required pursuant to any federal, state, city or other laws or regulations.
		

		
			 
		

		
			Section 2.7.   Relocation Expenses. In the event that the Employee relocates at the request of the Company, the Company shall pay, or reimburse the Employee for, the reasonable relocation expenses incurred by the Employee in accordance with the terms of the Company's relocation policy. This relocation expense reimbursement is in addition to the Sign-On Bonus and Sign-On Equity described above. Relocation Expenses shall include, but not be limited to, items such as reasonable fees for packing, moving, unpacking personal belongings, transporting vehicles, temporary or hotel housing during the move, realtor fees, etc.
		

		
			 
		

		
			Section 2.8. Reimbursement of Expenses. The Company shall pay or reimburse the Employee for all reasonable travel and other expenses incurred or paid by him during the Employment Term in connection with the performance of duties under this Agreement, in accordance with the Company's reimbursement policies and upon submission of satisfactory evidence thereof.
		

		
			 
		

		
			 
		

		
			

		 

		

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			Section 2.9. Indemnification. Regarding Employee's status as an officer, director, employee and/or representative of the Company or its affiliates, the Company shall provide Employee with the same indemnification and expense advancement rights provided to other executives.
		

		
			 
		

		
			Section 2.10.       SEC Filings and Clawback Provisions.
		

		
			 
		

		
			(a)       Consent to Filings. Employee acknowledges that the terms of his employment may result in him being a Named Executive Officer of the Company for purposes of filings with the Securities and Exchange Commission and/or the New York Stock Exchange. In such event, Employee acknowledges that the Company may be required or elect to file with the SEC certain terms of his employment, including but not limited to, the terms of this Agreement, the amount of his salary, bonus and equity awards which he may receive, his title and any changes thereto, and his termination or separation from employment and the terms thereof. Employee hereby consents to such disclosures. Employee further agrees to cooperate with the Company in notifying the Company of any purchases or sales of stock in the Company and the filing of any necessary disclosures.
		

		
			 
		

		
			(b)       Clawback.    Notwithstanding  any other provisions in this Agreement to the contrary, any incentive-based compensation, or any other compensation, paid to the Employee pursuant to this Agreement or any other agreement or arrangement with the Company which is subject to recovery under any law, government regulation, or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation, or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing requirement).
		

		
			 
		

		
			 
		

		
			ARTICLE III 
TERMINATION OF EMPLOYMENT
		

		
			 
		

		
			Section 3.1.      Employment Termination.
		

		
			 
		

		
			(a) Death or Disability. In the event the Employee dies or becomes disabled during the Te1m, his employment hereunder shall automatically terminate. For the purpose of this Agreement, “disability” or “disabled” shall mean a good faith determination of a medical doctor selected by the Company and the Employee that the Employee is unable to perform his duties under this Agreement due to physical or mental illness or disease or for other causes beyond the Employee's control and such period of inability continues for sixty (60) consecutive days or ninety (90)  days in any twelve (12) month period.
		

		
			 
		

		
			(b)           By the Company for Cause. The Company may terminate the Employee's employment hereunder at any time for “Cause”. For purposes of this Agreement, “Cause” shall mean:
		

		
			 
		

		
			

		 

		

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			i.    the Employee's willful engagement in dishonesty, illegal conduct, or gross misconduct, which is, in each case, injurious to the Company or its affiliates;
		

		
			 
		

		
			ii.     The Employee's falsification of the accounts, embezzlement of funds or other assets, or other similar fraud, whether or not related to the Executive's employment with the Company;
		

		
			 
		

		
			iii.    Any material breach of this Agreement  (it being expressly understood that any violation of the covenants or obligations contained in Articles IV and V hereof shall be deemed a material breach hereof) which, if capable of cure, is not cured within ten (10) days of receipt by the Employee of written notice of such breach;
		

		
			 
		

		
			iv.     Conviction of, or entry of a plea of guilty or nolo contendere to charges of, any felony or other crime which has or may have a materially adverse effect on the Employee's ability to carry out his/her duties under this Agreement or on the reputation or business activities of the Company or its affiliates;
		

		
			 
		

		
			v. The Employee's willful breach of a fiduciary duty owed to the Company, its shareholders, or any of its affiliates involving duty of care, duty of loyalty, corporate opportunity, or similar doctrines as determined in good faith by the Chief Executive Officer in conjunction with advice of counsel and after Employee has a material opportunity to be heard on claimed breach;
		

		
			 
		

		
			vi.   The Employee's willful unauthorized disclosure of Confidential Information (as defined in Article V hereof); and
		

		
			 
		

		
			vii.  Any willful public disparagement of the Company, its affiliates, or their officers or directors.
		

		
			 
		

		
			For purposes of this provision, no act or failure to act on the part of the Employee shall be considered “willful” unless it is done, or omitted to be done, by the Employee in bad faith or without reasonable belief that the Employee's action or omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Employee in good faith and in the best interests of the Company.
		

		
			 
		

		
			(c)     At the Election of the Company without Cause.   The Company may terminate the Employee's employment hereunder without Cause at any time upon ten (10) days prior written notice to the Employee.
		

		
			 
		

		
			(d)    As the Result of Injunction or Other Legal Process. In the event Employee or Company receives an injunction or other legal process from a court of competent jurisdiction that enjoins or otherwise precludes Employee from being employed by the Company or its
		

		
			 
		

		
			

		 

		

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			affiliates or otherwise performing the services for Company or its affiliates for which he was hired, the Company may terminate Employee's employment hereunder and such termination will not be treated as either for Cause or Without Cause.
		

		
			 
		

		
			(e)          At the Election of the Employee for Good Reason.  The Employee  may terminate the Employee's employment hereunder for Good Reason at any time upon ten (10) days prior written notice to the Company. Employee cannot terminate his employment for Good Reason unless he has provided written notice to the Company of the existence of circumstances providing grounds for termination for Good Reason and the Company has had at least 30 days from the date on which such notice is provided to cure such circumstances.  For purposes of this Agreement, “Good Reason” shall mean:
		

		
			 
		

		
			i.    a material reduction in Employee's authority, duties, responsibilities, or base or equity compensation without the consent of Employee;
		

		
			 
		

		
			ii.   Company's failure to provide the necessary financial support to achieve the objectives for which Employee has been tasked;
		

		
			 
		

		
			iii.  Company's violation of any material provision of this Agreement; provided that Company must be provided with at least 30 days during which it may remedy the condition.
		

		
			 
		

		
			Section 3.2.     Effect of Termination.
		

		
			 
		

		
			(a)        Termination for Death or Disability.   If the Employee's employment  is terminated by death or because of disability pursuant to Section 3.1(a) hereof, the Company shall pay to the estate of the Employee or to the Employee, as the case may be, the Base Salary accrued under this Agreement prior to the Termination Date. In the event of Employee's employment is terminated as the result of a disability, the Company shall pay the Employee his Base Salary for the lesser of sixty (60) days after the date of which termination due to  disability occurs or the earliest date Employee is eligible for long-term disability benefits  under the Company's Long Term Executive Disability Plan.
		

		
			 
		

		
			(b)        Termination for Cause or at the Election of the Employee. In the event that the Employee's employment is terminated by the Company for Cause pursuant to Section 3.l (b) hereof or at the election of the Employee, the Company shall pay to the Employee the salary accrued under this Agreement through the last day of his actual employment by the Company.
		

		
			 
		

		
			(c)        Termination at the Election of the Company without Cause or by Employee for Good Reason. In the event that the Company terminates the Employee without Cause or the Employee terminates for Good Reason pursuant to Sections 3.1(c) or (e) hereof, and subject to the Employee's compliance with Articles IV and V of this Agreement and his execution of a release of claims in favor of the Company, the Company shall continue to pay the Employee the Base Salary he was earning at the time of termination through the first anniversary of the termination date. Additionally, Company shall pay the Employee's COBRA payments for family benefits through the first anniversary of the termination date, or Employee's acceptance of new employment that provides for health insurance.
		

		
			 
		

		
			

		 

		

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			(d)        Termination as the Result of Injunction or Other Legal Process.  In the event that the Company terminates Employee's employment pursuant to Section 3.l(d) hereof, Employee agrees to use his best efforts to timely obtain alternative employment at a comparable salary. In the event that Employee fails to secure alternative employment, the  Company shall continue to pay the Employee the Base Salary designated herein and COBRA payments for family benefits for such period of time, not to exceed twelve (12) months, in which he is legally precluded from perfo1ming services for another motor carrier and/or freight brokerage  service. In the event that Employee secures alternative employment but such alternative  employment compensates Employee at less than the Base Salary herein, Employee shall provide  Company with evidence of the total compensation paid for such alternative employment, and the  Company shall continue to pay the Employee the difference in the Base Salary designated herein and the compensation paid to Employee for such alternative employment for such period of time, not to exceed twelve (12) months, in which he is legally precluded from performing services for another motor carrier and/or freight brokerage service. In the event that Employee returns to employment with Coyote, regardless of salary, Employer shall have no obligation to continue paying Employee's Base Salary under this paragraph.
		

		
			 
		

		
			(e)        Survival. Notwithstanding termination of this Agreement as provided in this Article III hereof, the rights and obligations of the Employee and the Company under Articles IV and V of this Agreement shall survive termination.
		

		
			 
		

		
			Section 3.3. Cooperation. The parties agree that certain matters in which the Employee will be involved during the Employment Term may necessitate the Employee's cooperation in the future. Accordingly, following the termination of the Employee's employment for any reason, to the extent reasonably requested by the Company, the Employee shall cooperate with the Company in connection with matters arising out of the Employee's service to the Company; provided that, the Company shall make reasonable efforts to minimize disruption of the Employee's other activities.
		

		
			 
		

		
			ARTICLES IV 
NONCOMPETITION AND NONSOLICITATION
		

		
			 
		

		
			Section 4.1.    Covenant Not to Compete and Nonsolicitation  Covenant.  As an inducement for the Company to enter into this Agreement, the Employee agrees to the following covenants (the “Restrictive Covenants”), whose terms are set forth below:
		

		
			 
		

		
			(a)          Covenant Not to Compete. The parties acknowledge that Employee is being hired to develop in a start-up environment a new digital model for the truckload industry and, that in the role for which he is hired, Employee will be in a unique position to have access to Company's core strategies and intellectual property. During the Noncompete Term, as defined below, the Employee shall not, without prior written approval of the Company, assist any entity to develop a similar digital truckload model or deploy for the benefit of any other business providing freight transportation services by use of dry van trailer, either directly or indirectly via brokerage, logistics, or other indirect arrangement, the concepts that Employee was hired to develop. The parties have identified certain businesses, set forth in Exhibit A hereto, which together with any
		

		
			 
		

		
			

		 

		

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			parent, subsidiary or affiliated company of those businesses are designated as defined competitors (the “Defined Competitors”). During the Noncompete Term, as defined below, the Employee shall not, without prior written approval of the Company, directly or indirectly, own, manage, operate, finance, control, invest, engage, or participate in the ownership, management, operation, financing, or control of any Defined Competitor; nor shall the Employee be employed by, associated with, or in any manner connected with, lend his name or any similar name to, lend his credit to, render services of any nature for, or provide advice or consultation to such Defined Competitor.
		

		
			 
		

		
			(b)        Nonsolicitation Covenant. During the Noncompete Term as defined below, the Employee shall not without prior written approval of the Company, directly or indirectly, (i) whether for his own account or for the account of any other person (other than the Company and its affiliates), solicit business of the same or similar type being carried on by the Company or any of its affiliates from any person or entity that is or was a customer of the Company or any of its affiliates during the Term of this Agreement or during the Noncompete Term; or (ii) whether for his own account or the account of any other person (other than the Company and its affiliates), solicit, employ, or otherwise engage as an employee, independent contractor, or otherwise any person who is or was during the Noncompete Term an employee or independent contractor of the Company or any of its affiliates or in any manner induce or attempt to induce any employee or independent contractor of the Company or any of its affiliates to terminate his employment or contract with the Company or any such affiliate.
		

		
			 
		

		
			(c)        Limited Exceptions. Notwithstanding anything to the contrary above, this Section 4.1 shall not prohibit the ownership by the Employee of up to (but not more than) five percent (5%) of the publicly traded securities of any business specified in Section 4.l (a) above (but without otherwise participating in the activities of such business). Further, provided that Employee has completed three years of employment with Company, the provisions of Section
		

		
			4.l (a) shall not apply to Employee's return to employment at Coyote.
		

		
			 
		

		
			Section 4.2.      Duration of Restrictive Covenants.   The restrictions contained in Section
		

		
			4.l (a) and 4.l(b) shall apply to Employee from the date hereof to the later of: (a) the second anniversary of Employee's termination pursuant to Section 3. l (b), (c), or (d); or (b) the second anniversary of Employee's termination at the election of the Employee (the “Noncompete Term”). The Noncompete Term shall be extended by the length of any period during which Employee is in breach of the terms of Sections 4.1.
		

		
			 
		

		
			Section 4.3.   Consideration for Restrictive Covenants.  In addition to the consideration to be received by the Employee during the Term of this Agreement and in exchange for the continuous performance of his obligations under Sections 4. l (a), 4. l (b), and 4. l(c) upon expiration of the Term, upon Employee's termination without Cause, the payment by the Company of the payments outlined in Section 3.2(c) and 3.2(d) shall be considered adequate consideration for the Restrictive Covenants. In the event Employee is terminated for Cause pursuant to Section 3.1(b) or in the event Employee elects to terminate his employment, consideration received from the Effective Date of this Agreement shall be considered adequate for the Restrictive Covenants and Employee shall not be entitled to any additional consideration. The Employee acknowledges that such consideration constitutes sufficient and adequate consideration for the Employee's agreement to the Restrictive Covenants.  The Employee further acknowledges that,  given the nationwide
		

		
			 
		

		
			

		 

		

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			character of the Company's business,  the Restrictive  Covenants  and their geographic area and duration are reasonable.
		

		
			 
		

		
			Section 4.4.     Enforceability.  If any of the Restrictive Covenants is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time, over too great a range of activities, or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities, or geographic area as to which it may be enforceable.
		

		
			 
		

		
			Section 4.5. Specific Performance. The Restrictive Covenants are necessary for the protection of the business and goodwill of the Company and are considered by the Employee to be reasonable to accomplish such purpose. The Employee agrees and acknowledges that any breach of the Restrictive Covenants would cause the Company immediate, substantial and irreparable damage for which monetary damages will not be an adequate remedy. In the event of any such breach, in addition to such other remedies which may be available in law, the Company shall have the right to seek specific performance, injunction, or any other equitable relief in any court having jurisdiction over such claim without the necessity of showing any actual damage or posting any bond or furnishing any other security, and that the specific enforcement of the provisions of this Agreement will not diminish Employee's ability to earn a livelihood or create or impose on Employee any undue hardship. If the Company prevails in a proceeding to remedy a breach under the Restrictive Covenants, the Company shall be entitled to receive its reasonable attorneys' fees, expert witness fees, and out-of-pocket costs incurred in connection with such proceeding, in addition to any other relief they may be granted.
		

		
			 
		

		
			ARTICLE V 
CONFIDENTIAL INFORMATION
		

		
			 
		

		
			Section 5.1. Confidential  Information.  The Employee understands  and  acknowledges that during the Employment Term, he will have access to and learn about Confidential Information, as defined below. The Employee understands and acknowledges that his obligations under this Agreement with regard to any particular Confidential Information shall commence immediately upon the Employee first having access to such Confidential Information (whether before or after he begins employment by the Company) and shall continue during and after his employment by the Company until such time as such Confidential Information has become public knowledge other than as a result of the Employee's breach of this Agreement or breach by those acting in conce1i with the Employee or on the Employee's behalf.
		

		
			 
		

		
			Section 5.2. Definition. For purposes of this Agreement, “Confidential Information” includes, but is not limited to, all information not generally known to the public, in spoken, printed, electronic or any other form or medium,  relating directly or indirectly to: business processes, practices, methods, policies, plans, publications, documents, research, operations, services, strategies, techniques, agreements, contracts, terms of agreements, transactions, potential transactions, negotiations, pending negotiations, trade secrets, computer programs, computer software, applications, operating systems, software design, web design, databases, manuals, records, articles, systems, vendor information, financial information, results, accounting information,    accounting    records,    legal   information,   marketing    information,    advertising
		

		
			 
		

		
			

		 

		

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			information, pricing information, credit information, design information, payroll information, staffing information, personnel information, employee lists, supplier lists, vendor lists, developments, reports, internal controls, security procedures, graphics, drawings, sketches, market studies, sales information, revenue, costs, formulae, notes, communications, algorithms, product plans, designs, styles, models, ideas, specifications, customer information, and customer lists of the Company or its businesses or any existing or prospective customer, supplier, investor or other associated third party, or of any other person or entity that has entrusted information to the Company in confidence.
		

		
			 
		

		
			The Employee understands that the above list is not exhaustive, and that Confidential Information also includes other information that is marked or otherwise identified as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential or proprietary in the context and circumstances in which the information is known or used.
		

		
			 
		

		
			The Employee understands and agrees that Confidential Information includes information developed by him in the course of his employment by the Company as if the Company furnished the same Confidential Information to the Employee in the first instance. Confidential Information shall not include information that is generally available to and known by the public at the time of disclosure to the Employee, provided that, such disclosure is through no direct or indirect fault of the Employee or person(s) acting on the Employee's behalf.
		

		
			 
		

		
			Section 5.3. Company Creation and Use of Confidential Information. The Employee understands and acknowledges that the Company has invested, and continues to invest, substantial time, money, and specialized knowledge into developing its resources, developing its information technology, developing its operational and load planning platform, policies and procedures, creating a customer base, generating customer and potential customer lists, training its employees, and improving its offerings in the field of trucking and logistics. The Employee understands and acknowledges that as a result of these efforts, the Company has created, and continues to use and create Confidential Information. This Confidential Information provides the Company with a competitive advantage over others in the marketplace.
		

		
			 
		

		
			Section 5.4.  Disclosure and Use Restrictions.  The Employee agrees and covenants: (i) to treat all Confidential Information as strictly confidential; (ii) not to directly or indirectly disclose, publish, communicate, or make available Confidential Information, or allow it to be disclosed, published, communicated, or made available, in whole or part, to any entity or person whatsoever (including other employees of the Company) not having a need to know and authority to know and use the Confidential Information in connection with the business of the Company and, in any event, not to anyone outside of the direct employ of the Company except as required in the performance of the Employee's authorized employment duties to the Company or with the prior consent of the Chief Executive Officer acting on behalf of the Company in each instance (and then, such disclosure shall be made only within the limits and to the extent of such duties or consent); and (iii) not to access or use any Confidential Information, and not to copy any documents, records, files, media, or other resources containing any Confidential Information, or remove any such documents, records, files, media, or other resources from the premises or control of the Company, except as required in the performance of the Employee's authorized employment duties to the Company or with the prior consent of the Chief Executive Officer acting on behalf of the Company in each instance (and then, such disclosure shall be made only within the limits and
		

		
			 
		

		
			

		 

		

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			to the extent of such duties or consent). Nothing herein shall be construed to prevent disclosure of Confidential Information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation, or order. The Employee shall promptly provide written notice of any such order to the Corporate General Counsel.
		

		
			 
		

		
			Section 5.5 Duration of Obligations. The Employee understands and acknowledges that his obligations under this Agreement with regard to any particular Confidential Information shall commence immediately upon the Employee first having access to such Confidential Information (whether before or after he begins employment by the Company) and shall continue during and after his employment by the Company until such time as such Confidential Info1mation has become public knowledge other than as a result of the Employee's breach of this Agreement or breach by those acting in concert with the Employee or on the Employee's behalf.
		

		
			 
		

		
			ARTICLE VI
MISCELLANEOUS
		

		
			 
		

		
			Section 6.1. Entire Agreement. This Agreement contains the entire understanding of the parties with respect to the matters contained herein and supersedes all previous commitments, agreements, and understanding between the parties with respect to such matters. There are no oral understandings, terms, or conditions, and no party has relied upon any representation, express or implied, not contained in this Agreement.
		

		
			 
		

		
			Section 6.2. Amendments. This Agreement may not be amended in any respect whatsoever, nor may any provision hereof be waived by any party, except by a further agreement, in writing, fully executed by each of the parties.
		

		
			 
		

		
			Section 6.3. Successors.  This Agreement shall be binding upon and inure to the benefit of the parties and to their respective heirs, personal representatives, successors and assigns, executors and/or administrators; provided, that (a) the Employee may not assign his rights hereunder (except by will or the laws of descent) without the prior written consent of the Company and (b) the Company may not assign its rights hereunder without the prior written consent of the Employee which will not be unreasonably withheld, provided, however, that the Company may assign this Agreement  without the consent of the Employee in connection with any sale or reorganization of the Company.
		

		
			 
		

		
			Section 6.4.   Publicity.   The Employee hereby irrevocably consents to any and all uses and displays, by U.S. Xpress or the Company and its agents, representatives and licensees, of the Employee's name, voice, likeness, image, appearance, and biographical information in, on or in connection with any pictures, photographs, audio and video recordings, digital images, websites, television programs and adve1iising, other advertising and publicity, sales and marketing brochures, books, magazines, other publications, CDs, DVDs, tapes, and all other printed and electronic forms and media throughout the world, at any time during or after the period of his employment by the Company,  for all legitimate  commercial and business purposes of the Company (“Permitted Uses”) without further consent from or royalty, payment, or other compensation to the Employee. The Employee hereby forever waives and releases U.S. Xpress
		

		
			 
		

		
			

		 

		

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			and the Company and their directors, officers, employees, and agents from any and all claims, actions, damages, losses, costs, expenses, and liability of any kind, arising under any legal or equitable theory whatsoever at any time during or after the period of his employment by U.S. Xpress or the Company, arising directly or indirectly from U.S. Xpress's, the Company's and their agents', representatives', and licensees' exercise of their rights in connection with any Pe1mitted Uses.
		

		
			 
		

		
			Section 6.5. Captions. The captions of this Agreement are for convenience and reference only and in no way define, describe, extend, or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement.
		

		
			 
		

		
			Section 6.6. Notice. Any notice or communication must be in writing and given by depositing the same in the United States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, or by delivering the same by hand delivery (including by a nationally recognized overnight carrier) or by deposit with a reputable overnight courier. Such notice shall be deemed received on the date on which it is delivered, three (3) business days after deposit in the United States mail as set fo1ih above, or the next business day after deposit with a reputable overnight courier. For purposes of notice, the addresses of the parties shall be:
		

		
			 
		

		
			If to the Employee:                  Cameron Ramsdell .
		

		
			 
		

		
			
		

		
			 
		

		
			
		

		
			 
		

		
			If to the Company:                  U.S. Xpress Enterprises, Inc.
		

		
			4080 Jenkins Road
		

		
			Chattanooga, TN 37421
		

		
			Attention: Corporate General Counsel
		

		
			 
		

		
			Any party may change its address for notice by written notice given to the other party in accordance with Section 6.6.
		

		
			 
		

		
			Section 6.7. Counterparts. This Agreement may be executed simultaneously in any number of counterparts, via facsimile or otherwise, each of which counterparts when so executed and delivered shall be taken to be an original, but such counterparts shall together constitute one and the same document.
		

		
			 
		

		
			Section 6.8. Severability. If any provision of this Agreement is held illegal, invalid or unenforceable, such illegality, invalidity, or unenforceability shall not affect any other provision hereof. Such provision and the remainder of this Agreement shall, in such circumstances, be modified to the extent necessary to render enforceable the remaining provisions hereof.
		

		
			 
		

		
			Section 6.9. Applicable Law. This Agreement shall be governed by, construed and enforced in accordance with the laws of the State of Tennessee, without regard to principles of comity or conflicts of laws provisions of any jurisdiction.
		

		
			 
		

		
			 
		

		
			

		 

		

			12 of 15

		

		

		
			 
		

		
			Section 6.10.  Construction.  The language contained in this Agreement shall be deemed to be approved by both parties hereto and no rule of strict construction shall be applied against any party. Unless otherwise expressly provided, the words “hereof ' and “hereunder” and similar references refer to this Agreement in its entirety and not to any specific part hereof.
		

		
			 
		

		
			Section 6.11. Genders.  Any reference to the masculine gender shall be deemed to include feminine and neutral genders, and vice versa, and any reference to the singular shall include the plural, and vice versa, unless the context otherwise requires.
		

		
			 
		

		
			Section 6.12. Right to Offset. The Company may exercise a right of offset at any time and from time to time against any amount payable under this Agreement to the extent the Employee is indebted to the Company or any of its affiliates.
		

		
			 
		

		
			Section 6.13. Waiver.  The failure of either party to insist upon strict performance of any of the terms or conditions of this Agreement shall not constitute a waiver of any of its rights hereunder.
		

		
			 
		

		
			IN WITNESS WHEREOF, the parties hereto have caused this Employment and Noncompetition Agreement to be duly executed as of the date first set fo1ih above.
		

		
			 
		

		
			THE EMPLOYEE:                                                   U.S. XPRESS ENTERPRISES, INC.
		

		
			 
		

		
			By:   /s/ Cameron Ramsdell___________                          By:  /s/ Eric Fuller____________________
		

		
			Cameron Ramsdell                                                                        Eric Fuller
		

		
			Chief Executive Officer
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			13 of 15

		

		

		
			EXHIBIT A
		

		
			To Employment and Noncompetition Agreement for Cameron Ramsdell
		

		
			 
		

		
			The following entities, together with their parent, subsidiary and affiliated companies, are designated as Defined Competitors for purposes of Section 4 of the Employment and Noncompetition Agreement between U.S. Xpress Enterprises, Inc. and Cameron Ramsdell:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			J.B. Hunt Transport Services, Inc.

			
	
			
				 ·
			

			
	
			
			Werner Enterprises, Inc.

			
	
			
				 ·
			

			
	
			
			C.R. England

			
	
			
				 ·
			

			
	
			
			Celadon Group, Inc.

			
	
			
				 ·
			

			
	
			
			Covenant Transportation Group, Inc.

			
	
			
				 ·
			

			
	
			
			Heartland Express, Inc.

			
	
			
				 ·
			

			
	
			
			Knight-Swift Transportation Holdings, Inc., Knight Transportation, Swift Transportation Company

			
	
			
				 ·
			

			
	
			
			Hub Group, Inc.

			
	
			
				 ·
			

			
	
			
			Landstar Systems, Inc.

			
	
			
				 ·
			

			
	
			
			Marten Transport, Ltd.

			
	
			
				 ·
			

			
	
			
			P.A.M Transportation Services, Inc.

			
	
			
				 ·
			

			
	
			
			Schneider National, Inc.

			
	
			
				 ·
			

			
	
			
			U.S.A. Truck, Inc.

			
	
			
				 ·
			

			
	
			
			Crete Carrier Corporation

			
	
			
				 ·
			

			
	
			
			Prime Inc.

			
	
			
				 ·
			

			
	
			
			KLLM Transport Services, LLC

			
	
			
				 ·
			

			
	
			
			Stevens Transport

		
			 
		

		
			 
		

		
			

		 

		

			14 of 15

		

		

		
			EXHIBIT B
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						% of award to

				
	
					
						Milestone

					
					
						vest

				
	
					
						Enterprise Value

				
	
					
						USX to $1 billion in market cap

					
					
						5

				
	
					
						USX to $2 billion in market cap

					
					
						10

				
	
					
						USX to $5 billion in market cap

					
					
						15

				
	
					
						USX to $10 billion in market cap

					
					
						40

				
	
					
						Enterprise Profitability

				
	
					
						USX Truckload division (Legacy) <90 OR

					
					
						5

				
	
					
						USX Truckload division <87 OR

					
					
						20

				
	
					
						USX Truckload division <85 OR

					
					
						20

				
	
					
						Newco Growth

				
	
					
						Newco reach 1,000 seated tractors

					
					
						15

				
	
					
						Newco reach 2,500 seated tractors

					
					
						15

				
	
					
						Newco reach 5,000 seated tractors

					
					
						15

				
	
					
						Newco reach 10,000 seated tractors

					
					
						25

				

		
			 
		

		 

		

			15 of 15EX-10.1

 Exhibit 10.1 

RAMBUS INC. 
 2015
EQUITY INCENTIVE PLAN 
 (as amended April 30, 2020) 

1. Purposes of the Plan. The purposes of this Plan are: 
  

	 	•	 	 to attract and retain the best available personnel for positions of substantial responsibility,

  

	 	•	 	 to provide incentives to individuals who perform services to the Company, and 

 

	 	•	 	 to promote the success of the Company’s business. 

The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock
Appreciation Rights, Performance Units, Performance Shares and other stock or cash awards as the Administrator may determine. 
 2.
Definitions. As used herein, the following definitions will apply: 
 (a) “Administrator” means the Board or any of
its Committees that will be administering the Plan in accordance with Section 4 of the Plan. 
 (b) “Applicable Laws”
means the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and
the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan. 
 (c)
“Award” means, individually or collectively, a grant under the Plan of Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance Units, Performance Shares and other stock or cash awards as the
Administrator may determine. 
 (d) “Award Agreement” means the written or electronic agreement setting forth the terms and
provisions applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 
 (e)
“Board” means the Board of Directors of the Company. 
 (f) “Change in Control” means the occurrence of
any of the following events: 
 (i) A change in the ownership of the Company which occurs on the date that any one person, or more
than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company;
provided, however, that for purposes of this subsection, the acquisition of additional stock by any one Person, who is considered to own more than 50% of the total voting power of the stock of the Company will not be considered a Change in
Control; provided, however, that for purposes of this clause (i), (1) the acquisition of beneficial ownership of additional stock by any one Person who is considered to beneficially own more than 50% of the total voting power of the stock of the
Company will not be considered a Change in Control; and (2) if the stockholders of the Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as
their ownership of shares of the Company’s voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of 50% or more of the total voting power of the stock of the Company or of the ultimate parent entity
of the Company, such event shall not be considered a Change in Control under this clause (i). For this purpose, indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting securities of one or
more corporations or other business entities which own the Company, as the case may be, either directly or through one or more subsidiary corporations or other business entities; or 

(ii) A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any
twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be
in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 

 (iii) A change in the ownership of a substantial portion of the Company’s assets which
occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value
equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not
constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by
the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, 50% or more of the total value or voting power of which is
owned, directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity, at least 50% of the
total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of
the assets being disposed of, determined without regard to any liabilities associated with such assets. 
 For purposes of this definition,
persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control
event within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder
from time to time. 
 Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole
purpose is to change the state of the Company’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities
immediately before such transaction. 
 (g) “Code” means the Internal Revenue Code of 1986, as amended. Any reference to a
section of the Code herein will be a reference to any successor or amended section of the Code. 
 (h) “Committee” means a
committee of independent, Outside Directors appointed by the Board in accordance with Section 4 hereof. 
 (i) “Common
Stock” means the common stock of the Company. 
 (j) “Company” means Rambus Inc., a Delaware corporation, or any
successor thereto. 
 (k) “Consultant” means any natural person, including an advisor, engaged by the Company or a Parent
or Subsidiary to render bona fide services to such entity, provided the services: (i) are not in connection with the offer or sale of securities in a capital-raising transaction, and (ii) do not directly promote or maintain a market for
the Company’s securities, in each case, within the meaning of Form S-8 promulgated under the Securities Act, and provided, further, that a Consultant will include only those persons to whom the issuance
of Shares may be registered under Form S-8 promulgated under the Securities Act. 
 (l)
“Director” means a member of the Board. 
 (m) “Disability” means total and permanent disability as
defined in Section 22(e) (3) of the Code, provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform
and non-discriminatory standards adopted by the Administrator from time to time. 
 (n)
“Dividend Equivalent” means a credit, payable in cash or Shares, made at the discretion of the Administrator or as otherwise provided by the Plan, to the account of a Participant in an amount equal to the cash

 
dividends paid on one Share for each Share represented by an Award held by such Participant. Subject to the provisions of Section 6, Dividend Equivalents may be subject to the same vesting
restrictions as the related Shares subject to an Award, at the discretion of the Administrator. 
 (o) “Employee” means any
person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment”
by the Company. 
 (p) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(q) “Exchange Program” means a program under which (i) outstanding Awards are surrendered or cancelled in exchange for
awards of the same type (which may have higher or lower exercise prices and different terms), awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or
other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is increased or reduced. The Administrator may not implement an Exchange Program. 

(r) “Fair Market Value” means, as of any date, the value of Common Stock as the Administrator may determine in good faith by
reference to the price of such stock on any established stock exchange or a national market system on the day of determination if the Common Stock is so listed on any established stock exchange or a national market system. If the Common Stock is not
listed on any established stock exchange or a national market system, the value of the Common Stock as the Administrator may determine in good faith. 

(s) “Fiscal Year” means the fiscal year of the Company. 

(t) “Incentive Stock Option” means an Option that by its terms qualifies and is otherwise intended to qualify as an incentive
stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 
 (u) “Inside
Director” means a Director who is an Employee. 
 (v) “Nonstatutory Stock Option” means an Option that by its
terms does not qualify or is not intended to qualify as an Incentive Stock Option. 
 (w) “Officer” means a person who is
an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 

(x) “Option” means a stock option granted pursuant to the Plan. 

(y) “Outside Director” means a Director who is not an Employee. 

(z) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of
the Code. 
 (aa) “Participant” means the holder of an outstanding Award. 

(bb) “Performance Period” means any Fiscal Year of the Company or such other period as determined by the Administrator in its
sole discretion. 
 (cc) “Performance Share” means an Award denominated in Shares which may be earned in whole or in part
upon attainment of performance objectives or other vesting criteria as the Administrator may determine pursuant to Section 11. 
 (dd)
“Performance Unit” means an Award which may be earned in whole or in part upon attainment of performance objectives or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other
securities or a combination of the foregoing pursuant to Section 11. 
 (ee) “Period of Restriction” means the period
during which the transfer of Shares of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of
performance, or the occurrence of other events as determined by the Administrator. 

 (ff) “Plan” means this 2015 Equity Incentive Plan. 

(gg) “Restricted Stock” means Shares issued pursuant to a Restricted Stock award under Section 8 of the Plan, or issued
pursuant to the early exercise of an Option. 
 (hh) “Restricted Stock Unit” means a bookkeeping entry representing an
amount equal to the Fair Market Value of one Share, granted pursuant to Section 9. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 

(ii) “Rule 16b-3” means Rule 16b-3 of the
Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan. 

(jj) “Section 16(b)” means Section 16(b) of the Exchange Act. 

(kk) “Service Provider” means an Employee, Director or Consultant. 

(ll) “Share” means a share of the Common Stock, as adjusted in accordance with Section 16 of the Plan. 

(mm) “Stock Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to
Section 10 is designated as a Stock Appreciation Right. 
 (nn) “Subsidiary” means a “subsidiary
corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code. 
 (oo) “Successor
Corporation” has the meaning given to such term in Section 16(c) of the Plan. 
 3.
Stock Subject to the Plan. 
 (a) Stock Subject to the
Plan. Subject to the provisions of Section 16 of the Plan, the maximum aggregate number of Shares that may be awarded and sold under the Plan is 17,300,000 Shares, plus (i) 8,158,396, which represents the number of Shares that remained
available for grant under the Company’s 2006 Equity Incentive Plan (the “Existing Plan”) on the date this Plan became effective, plus (ii) the number of Shares that are subject to awards under the Existing Plan that, on or
after the date this Plan became effective, are forfeited, cancelled, exchanged or surrendered or terminate under the Existing Plan. The Shares may be authorized, but unissued, or reacquired Common Stock. In addition, no more than
10,000,000 Shares may be granted pursuant to Options intended to qualify as Incentive Stock Options. 
 (b) Full Value Awards. Any
Shares subject to Awards granted with an exercise price less than the Fair Market Value on the date of grant of such Awards will be counted against the numerical limits of this Section 3 as 1.5 Shares for every one Share subject thereto.
Further, if Shares acquired pursuant to any such Award are forfeited or repurchased by the Company and would otherwise return to the Plan pursuant to Section 3(c), 1.5 times the number of Shares so forfeited or repurchased will return to
the Plan and will again become available for issuance. 
 (c) Lapsed Awards. If an Award expires or becomes unexercisable without
having been exercised in full, or, with respect to Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units, is forfeited to or repurchased by the Company, the unpurchased Shares (or for Awards other than Options and Stock
Appreciation Rights, the forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock Appreciation Rights, all of the Shares covered
by the Award (that is, Shares actually issued pursuant to a Stock Appreciation Right, as well as the Shares that represent payment of the exercise price) shall cease to be available under the Plan. However, Shares that have actually been issued
under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if unvested Shares of Restricted Stock, Restricted Stock Units, Performance Shares or
Performance Units are repurchased by the Company or are forfeited to the Company, such Shares will become available for future grant under the Plan. Shares used to pay the tax and exercise price of an Award will not become available for future grant
or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of 

 
Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment provided in Section 16, the maximum number of Shares that may be issued upon the
exercise of Incentive Stock Options shall equal the aggregate Share number stated in Section 3(a), plus, to the extent allowable under Section 422 of the Code, any Shares that become available for issuance under the Plan under this
Section 3(c). 
 (d) Share Reserve. The Company, during the term of this Plan, will at all times reserve and keep available such
number of Shares as will be sufficient to satisfy the requirements of the Plan. 
 4. Administration of the Plan. 

(a) Procedure. 
 (i)
General Administration; Multiple Administrative Bodies. The Plan will be administered by a Committee or Committees as determined by the Board, which will be constituted to satisfy Applicable Laws. Different Committees with respect to
different groups of Service Providers may administer the Plan. 
 (ii) Rule 16b-3. To the
extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. 
 (iii) Delegation of Authority for Day-to-Day Administration. Except to the extent prohibited by Applicable Law, the Administrator may delegate to one or more individuals the
day-to-day administration of the Plan and any of the functions assigned to it in this Plan. Such delegation may be revoked at any time. 

(b) Powers of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties
delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 
 (i) to determine the Fair Market
Value; 
 (ii) to select the Service Providers to whom Awards may be granted hereunder; 

(iii) to determine the number of Shares to be covered by each Award granted hereunder; 

(iv) to approve forms of Award Agreements for use under the Plan; 

(v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; 

(vi) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; 

(vii) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign laws; 

(viii) to modify or amend each Award (subject to Section 6 and Section 21(c) of the Plan), including but not limited to the
discretionary authority to extend the post-termination exercisability period of Awards and to extend the maximum term of an Option (subject to Section 6(a)(ii) of the Plan regarding Incentive Stock Options); 

(ix) to allow Participants to satisfy tax withholding obligations in such manner as prescribed in Section 17 of the Plan; 

(x) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by
the Administrator; 

 (xi) to determine whether Awards (other than Options or SARs) will be adjusted for Dividend
Equivalents; 
 (xii) to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that would otherwise be
due to such Participant under an Award pursuant to such procedures as the Administrator may determine; 
 (xiii) to impose such
restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by a Participant or other subsequent transfers by the Participant of any Shares issued as a result of or under an Award, including
without limitation, (A) restrictions under an insider trading policy, and (B) restrictions as to the use of a specified brokerage firm for such resales or other transfers; 

(xiv) to require that the Participant’s rights, payments and benefits with respect to an Award (including amounts received upon the
settlement or exercise of an Award) will be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award, as may
be specified in an Award Agreement at the time of the Award, or later if (A) Applicable Laws require the Company to adopt a policy requiring such reduction, cancellation, forfeiture or recoupment, or (B) pursuant to an amendment of an
outstanding Award; and 
 (xv) to make all other determinations deemed necessary or advisable for administering the Plan. 

(c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations
will be final and binding on all Participants and any other holders of Awards. 
 5. Eligibility. Nonstatutory Stock Options,
Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance Units, Performance Shares and such other cash or stock awards as the Administrator determines may be granted to Service Providers. Incentive Stock Options may be
granted only to Employees. 
 6. Limitations.  

(a) Incentive Stock Options. 

(i) $100,000 Limitation. Notwithstanding any designation of an Option as an Incentive Stock Option, to the extent that the aggregate
Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds $100,000, such Options
will be treated as Nonstatutory Stock Options. For purposes of this Section 6(a)(i), Incentive Stock Options will be taken into account in the order in which they were granted. The Fair Market Value of the Shares will be determined as of the
time the Option with respect to such Shares is granted. 
 (ii) Maximum Option Term. In the case of an Incentive Stock Option
granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of
the Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement. 

(iii) Option Exercise Price. In the case of an Incentive Stock Option granted to an Employee who, at the time the Incentive Stock
Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than 110% of the Fair Market Value per Share
on the date of grant. 
 (b) Share Limitations. Subject to Section 16, the following limitations shall apply to Awards under the
Plan: 
 (i) Options. During any Fiscal Year, no Participant will be granted Options covering more than 1,000,000 Shares; provided,
however, that in connection with a Participant’s initial service as an Employee, an Employee may be granted Options covering up to an additional 1,000,000 Shares; 

 (ii) Restricted Stock. During any Fiscal Year, no Participant will receive more than
an aggregate of 300,000 Shares of Restricted Stock; provided, however, that in connection with a Participant’s initial service as an Employee, an Employee may be granted an aggregate of up to an additional 300,000 Shares of Restricted Stock;

 (iii) Restricted Stock Units. During any Fiscal Year, no Participant will receive more than an aggregate of 300,000 Restricted
Stock Units; provided, however, that in connection with a Participant’s initial service as an Employee, an Employee may be granted an aggregate of up to an additional 300,000 Restricted Stock Units; 

(iv) Stock Appreciation Rights. During any Fiscal Year, no Participant will be granted Stock Appreciation Rights covering more than
1,000,000 Shares; provided, however, that in connection with a Participant’s initial service as an Employee, an Employee may be granted Stock Appreciation Rights covering up to an additional 1,000,000 Shares; and 

(v) Performance Units / Performance Shares. During any Fiscal Year, no Participant will receive (1) Performance Units having an
initial value greater than $3,000,000, and (2) more than 300,000 Performance Shares; provided, however, that in connection with a Participant’s initial service as an Employee, an Employee may be granted up to an additional 300,000
Performance Shares. 
 (c) Exchange Program. The Administrator may not institute an Exchange Program. 

(d) Outside Director Limitations. No Outside Director may be granted, in any Fiscal Year, Awards with a grant date fair value
(determined in accordance with U.S. generally accepted accounting principles) of greater than $300,000, increased to $500,000 in the Fiscal Year of his or her initial service as an Outside Director. Any Awards granted to an individual while he or
she was an Employee, or while he or she was a Consultant but not an Outside Director, will not count for purposes of the limitations under this Section 6. 

(e) Vesting Limits. Awards granted under the Plan shall vest no earlier than the one (1) year anniversary of the Award’s date
of grant, provided that the Administrator, in its sole discretion, may provide an Award may accelerate vesting by reason of the Participant’s death, Disability or retirement, or upon a major capital change of the Company (including without
limitation upon the occurrence of a Change in Control, merger of the Company with or into another corporation or entity, or similar transaction), and provided further, that, notwithstanding the foregoing in this sentence, Awards that result in the
issuance of an aggregate of up to 5% of the Shares reserved for issuance under Section 3(a) may be granted to Service Providers, or outstanding Awards modified, without regard to such minimum vesting, exercisability and distribution
provisions. 
 (f) Dividend Payments. Dividends and other distributions payable with respect to Shares subject to Awards (including
Dividend Equivalents) will not be paid before the underlying Shares vest. 
 7. Stock Options. 

(a) Grant of Options. Subject to the terms and conditions of the Plan, Options may be granted to Service Providers at any time and from
time to time as will be determined by the Administrator, in its sole discretion. Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. 

(b) Number of Shares. Subject to the limitations contained in Section 6, the Administrator will have complete discretion to
determine the number of Shares subject to Options granted to any Participant. 
 (c) Term of Option. The Administrator will determine
the term of each Option in its sole discretion; provided, however, that the term will be no more than ten (10) years from the date of grant thereof, subject to the provisions of Section 6. 

(d) Option Exercise Price and Consideration. 

(i) Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by
the Administrator, but will be no less than 100% of the Fair Market Value per Share on the date of grant, subject to the provisions of Section 6. 

 (ii) Waiting Period and Exercise Dates. At the time an Option is granted, the
Administrator will fix the period within which the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised. 

(iii) Form of Consideration. The Administrator will determine the acceptable form(s) of consideration for exercising an Option,
including the method of payment, to the extent permitted by Applicable Laws. 
 (e) Exercise of Option. 

(i) Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the
Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share. 

An Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator may specify from
time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with an applicable withholding taxes). No adjustment will be made for a dividend or
other right for which the record date is prior to the date the Shares are issued, except as provided in Section 16 of the Plan. 

(ii) Termination of Relationship as a Service Provider. If a Participant ceases to be a Service Provider, other than upon the
Participant’s death or Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in no event later than
the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for three (3) months following the Participant’s termination.
Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the
Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

(iii) Disability of Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability,
the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as
set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following the Participant’s termination. Unless otherwise provided by the
Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his
or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

(iv) Death of Participant. If a Participant dies while a Service Provider, the Option may be exercised following the
Participant’s death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the option be exercised later than the expiration of the term of such Option
as set forth in the Award Agreement), by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to Participant’s death in a form acceptable to the Administrator. If no such beneficiary has been
designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s will or in accordance with the
laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following Participant’s death. Unless otherwise provided by the Administrator, if at the
time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option will
terminate, and the Shares covered by such Option will revert to the Plan. 

 8. Restricted Stock. 

(a) Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time,
may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. 

(b) Restricted Stock Agreement. Subject to the limitations contained in Section 6, each Award of Restricted Stock will be
evidenced by an Award Agreement that will specify the Period of Restriction (if any), the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines
otherwise, Shares of Restricted Stock will be held by the Company as escrow agent until the restrictions on such Shares have lapsed. 
 (c)
Transferability. Except as provided in this Section 8, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction. 

(d) Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as
it may deem advisable or appropriate. 
 (e) Removal of Restrictions. Except as otherwise provided in this Section 8, Shares of
Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction. Subject to the vesting limitations contained in Section 6, the
Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed. 
 (f) Voting Rights.
During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 

(g) Dividends and Other Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be
entitled to receive all dividends and other distributions paid with respect to such Shares unless otherwise provided in the Award Agreement. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same
restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid. 
 (h) Return
of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 

9. Restricted Stock Units. 

(a) Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. Subject to the
limitations contained in Section 6, each Restricted Stock Unit grant will be evidenced by an Award Agreement that will specify such other terms and conditions as the Administrator, in its sole discretion, will determine, including all terms,
conditions, and restrictions related to the grant, the number of Restricted Stock Units and the form of payout, which, subject to Section 9(d), may be left to the discretion of the Administrator. 

(b) Vesting Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the extent to
which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. Each Award of Restricted Stock Units will be evidenced by an Award Agreement that will specify the vesting criteria, and such
other terms and conditions as the Administrator, in its sole discretion, will determine. 
 (c) Earning Restricted Stock Units. Upon
meeting the applicable vesting criteria, the Participant will be entitled to receive a payout as specified in the Award Agreement. The Administrator may set vesting criteria based upon the achievement of Company-wide, divisional, business unit, or
individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws or any other basis determined by the Administrator in its discretion. Subject to the vesting limitations contained in
Section 6, after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout. 

 (d) Form and Timing of Payment. Payment of earned Restricted Stock Units will be made
as soon as practicable after the date(s) set forth in the Award Agreement. The Administrator, in its sole discretion, may pay earned Restricted Stock Units in cash, Shares, or a combination thereof. Shares represented by Restricted Stock Units that
are fully paid in cash again will be available for grant under the Plan. 
 (e) Cancellation. On the date set forth in the Award
Agreement, all unearned Restricted Stock Units will be forfeited to the Company. 
 10. Stock Appreciation Rights. 

(a) Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to
Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 
 (b) Number of
Shares. Subject to the limitations contained in Section 6, the Administrator will have complete discretion to determine the number of Stock Appreciation Rights granted to any Participant. 

(c) Exercise Price and Other Terms. The Administrator, subject to the provisions of the Plan, will have complete discretion to
determine the terms and conditions of Stock Appreciation Rights granted under the Plan, provided, however, that the exercise price will be not less than one hundred percent (100%) of the Fair Market Value of a Share on the date of grant. 

(d) Stock Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify
the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

(e) Expiration of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon the date determined by
the Administrator, in its sole discretion, and set forth in the Award Agreement; provided, however, that the term will be no more than ten (10) years from the date of grant thereof. Notwithstanding the foregoing, the rules of Section 7(e)
also will apply to Stock Appreciation Rights. 
 (f) Payment of Stock Appreciation Right Amount. Upon exercise of a Stock
Appreciation Right, a Participant will be entitled to receive payment from the Company in an amount determined by multiplying: 
 (i) The
difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times 
 (ii) The number of Shares
with respect to which the Stock Appreciation Right is exercised. 
 At the discretion of the Administrator, the payment upon Stock Appreciation Right
exercise may be in cash, in Shares of equivalent value, or in some combination thereof. 
 11. Performance Units and Performance
Shares. 
 (a) Grant of Performance Units/Shares. Performance Units and Performance Shares may be granted to Service Providers at
any time and from time to time, as will be determined by the Administrator, in its sole discretion. Subject to the limitations contained in Section 6, the Administrator will have complete discretion in determining the number of Performance
Units/Shares granted to each Participant. 
 (b) Value of Performance Units/Shares. Each Performance Unit will have an initial value
that is established by the Administrator on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. 

(c) Performance Objectives and Other Terms. The Administrator will set performance objectives or other vesting provisions (including,
without limitation, continued status as a Service Provider) in its discretion which, depending on the extent to which they are met, will determine the number or value of Performance 

 
Units/Shares that will be paid out to the Participant. Each Award of Performance Units/Shares will be evidenced by an Award Agreement that will specify the Performance Period, and such other
terms and conditions as the Administrator, in its sole discretion, will determine. The Administrator may set performance objectives based upon the achievement of Company-wide, divisional, business unit or individual goals (including, but not limited
to, continued employment or service), applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion. 

(d) Earning of Performance Units/Shares. After the applicable Performance Period has ended, the holder of Performance Units/Shares will
be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance objectives or other vesting
provisions have been achieved. Subject to the vesting limitations contained in Section 6, after the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive any performance objectives or other vesting
provisions for such Performance Unit/Share. 
 (e) Form and Timing of Payment of Performance Units/Shares. Payment of earned
Performance Units/Shares will be made as soon as practicable after the expiration of the applicable Performance Period. The Administrator, in its sole discretion, may pay earned Performance Units/Shares in the form of cash, in Shares (which have an
aggregate Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period) or in a combination thereof. 

(f) Cancellation of Performance Units/Shares. On the date set forth in the Award Agreement, all unearned or unvested Performance
Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. 
 12. Dividend Equivalents. The
Administrator, in its discretion, may provide in the Award Agreement evidencing any Award that the Participant will be entitled to receive Dividend Equivalents with respect to the payment of cash dividends on Shares having a record date prior to the
date on which the Awards are settled or forfeited. Subject to the limitations contained in Section 6, the Dividend Equivalents, if any, will be credited to an Award in such manner and subject to such terms and conditions as determined by the
Administrator in its sole discretion. In the event of a dividend or distribution paid in Shares or any other adjustment made upon a change in the capital structure of the Company as described in Section 16, appropriate adjustments will be made
to the Participant’s Award of Performance Units so that it represents the right to receive upon settlement any and all new, substituted or additional securities or other property (other than normal cash dividends) to which the Participant would
be entitled by reason of the consideration issuable upon settlement of the Award, and all such new, substituted or additional securities or other property will be immediately subject to the same vesting and settlement conditions as are applicable to
the Award. Dividend Equivalents will be subject to the Fiscal Year limits applicable to the underlying Restricted Stock Unit, Performance Share or Performance Unit Award as set forth in Section 6, as applicable, hereof. 

13. [RESERVED] 
 14.
Leaves of Absence. Unless the Administrator provides otherwise, or except as otherwise required by Applicable Laws, vesting of Awards granted hereunder will be suspended starting on the
30th consecutive day of any unpaid leave of absence approved by the Company, with such suspension of vesting terminating upon the Participant’s resumption of service with the Company. A
Service Provider will not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of
Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so
guaranteed, then six (6) months following the first (1st) day of such leave any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will
be treated for tax purposes as a Nonstatutory Stock Option. 
 15. Transferability of Awards. Unless determined otherwise by the
Administrator, an Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by
the Participant. If the Administrator makes an Award transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate. 

 16. Adjustments; Dissolution or Liquidation; Merger or Change in Control. 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other
property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares
or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made
available under the Plan, will adjust the number and class of Shares that may be delivered under the Plan and/or the number, class, and price of Shares covered by each outstanding Award, and the numerical Share limits set forth in Sections 3
and 6. 
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator
will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action.

 (c) Change in Control. 

(i) In the event of a Change in Control, subject to Section 16(c)(ii) and any vesting acceleration provisions in an Award or other
agreement, outstanding Awards shall be treated in the manner provided in the agreement relating to the Change in Control (including as the same may be amended), including, without limitation: 

(1) the continuation of the outstanding Award by the Company, if the Company is a surviving corporation; 

(2) the assumption of the outstanding Awards, or substitution of equivalent Awards, by the acquiring or succeeding corporation (or an
affiliate thereof) (the “Successor Corporation”) with appropriate adjustments as to the number and kind of shares and prices; 

(3) that outstanding Awards will vest and become exercisable (and for the avoidance of doubt, notwithstanding the vesting limitations in
Section 6), realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part prior to or upon consummation of such Change in Control, and, to the extent the Administrator determines, terminate upon or immediately
prior to the effectiveness of such merger or Change in Control; 
 (4) (A) the termination of an Award in exchange for an amount of
cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if
as of the date of the occurrence of the transaction the Administrator determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’s rights, then such Award may be terminated
by the Company without payment), or (B) the replacement of such Award with other rights or property selected by the Administrator in its sole discretion; or 

(5) any combination of the foregoing. 

Such agreement shall not be required to treat all Awards or individual types of Awards similarly in the Change in Control. 

(ii) In the event that the Successor Corporation refuses to assume, continue or substitute for the Award (and for the avoidance of doubt,
notwithstanding the vesting limitations in Section 6), the Participant will fully vest in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards would not
otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals will be deemed achieved at target levels as to a
prorated portion of such Award based on the portion of the applicable performance period that has lapsed through the date of the merger or Change in Control, and all other vesting criteria will be deemed achieved as to such prorated portion of such
Award. In addition, if an 

 
Option or Stock Appreciation Right is not assumed or substituted for in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically that the
Option or Stock Appreciation Right will be fully vested and exercisable for a period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period. 

With respect to Awards granted to Outside Directors that are assumed or substituted for, if on the date of or following such assumption or
substitution the Participant’s status as a Director or a director of the Successor Corporation, as applicable, is terminated other than upon a voluntary resignation by the Participant, then the Participant will fully vest in and have the right
to exercise Options and/or Stock Appreciation Rights as to all of the Shares subject thereto, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will
lapse, and, with respect to Awards with performance-based vesting, all performance goals will be deemed achieved at target levels as to a prorated portion of such Award based on the portion of the applicable performance period that has lapsed
through the date of the merger or Change in Control, and all other vesting criteria will be deemed achieved as to such prorated portion of such Award. 

For the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers the right
to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property) or, in the case of a Stock Appreciation Right upon the exercise of which
the Administrator determines to pay cash or a Performance Share or Performance Unit which the Administrator can determine to pay in cash, the fair market value of the consideration received in the merger or Change in Control by holders of Common
Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such
consideration received in the Change in Control is not solely common stock of the Successor Corporation, the Administrator may, with the consent of the Successor Corporation, provide for the consideration to be received upon the exercise of an
Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Share or Performance Unit, for each Share subject to such Award (or in the case of Performance Units denominated in dollars, the number of implied shares
determined by dividing the value of the Performance Units by the per share consideration received by holders of Common Stock in the Change in Control), to be solely common stock of the Successor Corporation equal in fair market value to the per
share consideration received by holders of Common Stock in the Change in Control. 
 Notwithstanding anything in this Section 16(c) to
the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance
goals without the Participant’s consent; provided, however, a modification to such performance goals only to reflect the Successor Corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid
Award assumption. 
 Notwithstanding anything in this Section 16(c) to the contrary, if a payment under an Award Agreement is subject
to Code Section 409A and if the change in control definition contained in the Award Agreement does not comply with the definition of “change of control” for purposes of a distribution under Code Section 409A, then any payment of
an amount that is otherwise accelerated under this Section will be delayed until the earliest time that such payment would be permissible under Code Section 409A without triggering any penalties applicable under Code Section 409A. 

17. Tax Withholding 
 (a)
Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof), the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount
sufficient to satisfy federal, state, local, foreign or other taxes (including the Participant’s FICA obligation) required to be withheld with respect to such Award (or exercise thereof). 

(b) Withholding Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to
time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (a) paying cash (or cash equivalent), (b) electing to have the Company withhold otherwise deliverable cash or Shares
having a fair market value equal to the minimum statutory amount 

 
required to be withheld or such greater amount as the Administrator may determine if such amount would not have adverse accounting consequences, as the Administrator determines in its sole
discretion, (c) delivering to the Company already-owned Shares having a fair market value equal to the minimum statutory amount required to be withheld, or such greater amount as the Administrator may determine if such amount would not have
adverse accounting consequences, as the Administrator determines in its sole discretion, or (d) selling a sufficient number of Shares otherwise deliverable to the Participant through such means as the Administrator may determine in its sole
discretion (whether through a broker or otherwise) equal to the amount required to be withheld. The fair market value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 

(c) Compliance With Code Section 409A. Awards will be designed and operated in such a manner that they are either
exempt from the application of, or comply with, the requirements of Code Section 409A such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A, except as
otherwise determined in the sole discretion of the Administrator. The Plan and each Award Agreement under the Plan is intended to meet the requirements of Code Section 409A and will be construed and interpreted in accordance with such
intent, except as otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is subject to Code Section 409A, the Award will be granted, paid, settled or
deferred in a manner that will meet the requirements of Code Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A. 

18. No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect to
continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s right or the Company’s right to terminate such relationship at any time, with or without
cause, to the extent permitted by Applicable Laws. 
 19. Date of Grant. The date of grant of an Award will be, for all purposes, the
date on which the Administrator makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of
such grant. 
 20. Term of Plan. Subject to Section 25 of the Plan, the Plan will become effective upon its adoption by
the Board. It will continue in effect for a term of ten (10) years unless terminated earlier under Section 21 of the Plan. 

21. Amendment and Termination of the Plan. 

(a) Amendment and Termination. The Board or the Administrator may at any time amend, alter, suspend or terminate the Plan. 

(b) Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to
comply with Applicable Laws. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the
Plan will impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect
the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 

22. Conditions Upon Issuance of Shares. 

(a) Legal Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance
and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) Investment Representations. As a condition to the exercise of an Award, the Company may require the person exercising such Award to
represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation
is required. 

 23. Inability to Obtain Authority. The inability of the Company to obtain authority
from any regulatory body having jurisdiction or to complete or comply with the requirements of any registration or other qualification of the Shares under any state, federal or foreign law or under the rules and regulations of the Securities and
Exchange Commission, the stock exchange on which Shares of the same class are then listed, or any other governmental or regulatory body, which authority, registration, qualification or rule compliance is deemed by the Company’s counsel to be
necessary or advisable for the issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority, registration, qualification or rule
compliance will not have been obtained. 
 24. Forfeiture Events. The Administrator may specify in an Award Agreement that the
Participant’s rights, payments, and benefits with respect to an Award will be subject to reduction, cancellation, forfeiture, or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or
performance conditions of an Award. Such events may include, but will not be limited to, fraud, breach of a fiduciary duty, restatement of financial statements as a result of fraud or willful errors or omissions, termination of employment for cause,
violation of material Company and/or Subsidiary policies, breach of non-competition, confidentiality, or other restrictive covenants that may apply to the Participant, or other conduct by the Participant that
is detrimental to the business or reputation of the Company and/or its Subsidiaries. The Administrator may also require the application of this Section with respect to any Award previously granted to a Participant even without any specified terms
being included in any applicable Award Agreement to the extent required under Applicable Laws. 
 25. Stockholder Approval. The Plan
will be subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan is adopted. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 

  
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