Document:

Exhibit 10.1

 

 

ANNUAL INCENTIVE PLAN

OF THE COCA-COLA COMPANY

As Amended and Restated as of January 1, 2022

 

		I.	Plan Objective

The purpose of the Annual
Incentive Plan of The Coca-Cola Company is to promote the interests of The Coca-Cola Company (the “Company”) by providing
additional incentive for employees who contribute to the improvement of operating results of the Company and to reward outstanding performance
on the part of those individuals whose decisions and actions most significantly affect the growth and profitability and efficient operation
of the Company.

		II.	Definitions

The terms used herein will
have the following meanings:

“Affiliate”
means any entity 1) in which the Company owns, directly or indirectly, 20% or more of the voting stock or capital at the relevant time,
2) that has an ongoing contractual relationship with the Company or a Subsidiary that provides such entity the rights to manufacture,
sell and/or distribute beverages for which the trademark is owned by the Company or a Subsidiary, or 3) that is approved by the Compensation
Committee as an Affiliate based on its relationship with the Company or its Subsidiaries.

“Award” means
an amount calculated and awarded under the Plan to a Participant.

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

“Code” means
the Internal Revenue Code of 1986, as amended.

“Company” means
The Coca-Cola Company.

“Compensation Committee”
means the Talent and Compensation Committee of the Board (or a subset thereof).

“Employee”
means any person regularly employed on a full-time or part-time basis by the Company or a Subsidiary.

“Executive”
means any Employee who is in the Senior Executive Group.

“Management Committee”
means the committee appointed by the Compensation Committee to administer the Plan.

“Participant”
means an Employee who satisfies the eligibility requirements set forth in Section IV of the Plan.

“Performance Period”
means the time period for which a Participant’s performance is measured for purposes of receiving an Award.

    	 	  	 

     

    

“Plan” means
this Annual Incentive Plan of The Coca-Cola Company.

“Plan Year”
means the 12-month period beginning January 1 and ending December 31.

“Senior Executive Group” means all officers
of the Company subject to Section 16 of the Securities Exchange Act of 1934, as amended, and such other members as the Committee may designate
from time to time.

 

“Subsidiary”
means any corporation, limited liability company, partnership or other entity, of which 50% or more of the outstanding voting stock or
voting power is beneficially owned directly or indirectly by the Company.

		III.	Administration

The Plan will be administered
by the Compensation Committee and/or the Management Committee. No person, other than members of these committees, shall have any discretion
concerning decisions regarding the Plan. The Compensation Committee and/or the Management Committee, in its sole discretion, will determine
which of the Participants to whom, and the time or times at which, Awards will be granted under the Plan, and the other conditions of
the grant of the Awards. The provisions and conditions of the grants of Awards need not be the same with respect to each grantee or with
respect to each Award.

The Compensation Committee
will, subject to the provisions of the Plan, establish such rules and regulations as it deems necessary or advisable for the proper administration
of the Plan, and will make determinations and will take such other action in connection with or in relation to accomplishing the objectives
of the Plan as it deems necessary or advisable. Each determination or other action made or taken by the Compensation Committee or the
Management Committee pursuant to the Plan, including interpretation of the Plan and the specific conditions and provisions of the Awards
granted hereunder will be final and conclusive for all purposes and upon all persons including, but without limitation, the Company, any
Subsidiary, the Compensation Committee, the Management Committee, the Board, officers, the affected Employees, and any Participant or
former Participant under the Plan, as well as their respective successors in interest.

		IV.	Eligibility and Participation

a.                   
Eligibility. Eligibility for participation in the Plan is determined in the sole discretion
of the Compensation Committee or the Management Committee. An Employee is eligible to participate in the Plan if 1) the Employee is compensated
in an amount at least equal to the minimum salary or salary grade guideline established annually by the Management Committee, and 2) the
Employee is recommended for participation in the Plan by his or her immediate superior and is approved for such participation by the operating
head of the Employee’s unit.

The fact that an Employee
is eligible to participate in the Plan in one Plan Year does not assure that the Employee will be eligible to participate in any subsequent
year. The fact that an Employee is eligible to participate in the Plan for any Plan Year does not mean that the Employee will receive
an Award in any Plan Year. The Compensation Committee or the Management Committee will determine an Employee’s eligibility for
participation in the Plan from time to time prior to or during each Plan Year.

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b.                  
Participation. In the case of Executives, generally, the Compensation Committee annually will
select the Participants no later than 90 days after the beginning of a Performance Period. Following such selection by the Compensation
Committee, the Participants will be advised they are participants in the Plan for a Performance Period.

		V.	Performance Criteria and Performance Goals

a.                  
Performance Criteria. Performance will be measured based upon one or more objective or subjective
criteria for each Performance Period. Criteria will be measured over the Performance Period. The Compensation Committee shall specify
in writing which of the following criteria, or such other criteria as the Compensation Committee may determine, will apply during such
Performance Period, as well as any applicable matrices, schedules, or formulae applicable to weighting of such criteria in determining
performance. 

•  increase in shareowner value;

•  earnings per share;

•  stock price;

•  net income;

•  return on assets;

•  return on shareowners' equity;

•  increase in cash flow;

•  operating profit or operating margins;

•  revenue growth of the Company;

•  operating expenses;

•  economic profit;

•  return on capital;

•  return on invested capital;

•  earnings before interest, taxes,
depreciation and amortization;

•  unit case volume;

•  operating income;

•  value share of Non Alcoholic Ready-To-Drink
segment;

•  volume share of Non Alcoholic Ready-To-Drink
segment;

•  net revenue;

•  gross profit;

•  profit before tax;

•  number of transactions (number of
physical packages sold);

• environmental, social and governance (ESG) criteria;

• sustainability criteria; and

•  productivity.

 

Any of the performance
criteria can be applied on an absolute basis or on a relative basis (e.g., as a relative comparison to a peer group, industry index,
broad- base index, etc.), and may be calculated for a single year or calculated on a compound basis over multiple years.

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b.                  
Performance Goals. Using any applicable matrices, schedules, or formulae applicable to weighting
of the performance criteria, the Compensation Committee will develop, in writing, all performance goals for the Participants who are Executives
for a Performance Period and performance goals measured on a total Company basis, if any, for all other Participants. The Compensation
Committee and/or the Management Committee will develop, in writing, performance goals for all other Participants that are measured on
a non-total Company basis, if any. The Compensation Committee or Management Committee, as applicable, shall have the right to use different
performance criteria for different Participants. When the Compensation Committee or Management Committee, as applicable, sets the performance
goals for a Participant, the Compensation Committee or Management Committee, as applicable, may
establish the general, objective rules which will be used to determine the extent, if any, that a Participant’s performance goals
have been met and the specific, objective rules, if any, regarding any exceptions to the use of such general rules, and any such specific,
objective rules may be designed as the Compensation Committee or Management Committee, as applicable, deems appropriate to take into account
any extraordinary or one-time or other non-recurring items of income or expense or gain or loss or any events, transactions or other circumstances
that the Compensation Committee or Management Committee, as applicable, deems relevant in light of the nature of the performance goals
set for the Participant or the assumptions made by the Compensation Committee or Management Committee, as applicable, regarding such goals.

In the case of an Executive,
in the event that a Participant is assigned a performance goal following the time at which performance goals are normally established
for the Performance Period due to placement in a position, or due to a change in position after the start of the Performance Period, the
Performance Period for such Participant may be the portion of the Plan Year or original Performance Period remaining, whichever is applicable.

		VI.	Awards

An Award to a Participant
will be based on a percentage of the Participant’s base salary. The Management Committee (or the Compensation Committee) has discretion
to adjust base salary for the purposes of the Plan.

The Compensation Committee
or the Management Committee may, in each of their respective sole discretion, adjust the Award for each Participant based upon that Participant’s
over achievement or under achievement in terms of his or her individual performance and the performance of the Participant’s operating
unit during the Plan Year.

a.                   
Hiring or Termination During Performance Period. 

(i)        An
Employee who is selected as a Participant after the beginning of a Plan Year, who dies, or whose employment is transferred to an Affiliate
prior to the end of such Plan Year will be eligible to receive a pro rata share of an Award based on participation during any portion
of such Plan Year if, in the sole discretion of the Compensation Committee or the Management Committee, such an award is merited. Except
as provided in clause (ii), a Participant whose employment is otherwise terminated prior to the end of such Plan Year will not be
eligible for an Award.

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(ii)       Notwithstanding
clause (i), if a Participant terminates employment with the Company and its Subsidiaries after attaining at least age 65 (or such
lower age designated as the full retirement age in his or her country) and prior to the end of such Plan Year, the Participant shall be
eligible for a pro rata share of an Award based on the number of full days the Participant was employed by the Company or a Subsidiary
during such Plan Year. A United States-based Participant (or a headquarter-based mobile assignee from the United States) who was hired
prior to January 1, 2012 and remained continuously employed by the Company or a Subsidiary, and who subsequently terminates employment
with the Company and its Subsidiaries prior to July 1, 2027, shall be eligible for a pro rata share of an Award based on the number
of full days the Participant was employed by the Company or a Subsidiary during such Plan Year if the Participant has attained at least
age 55.

b.                  
Termination of Employment after Performance Period, but Prior to Payment. A Participant shall
receive payment of an Award for any Performance Period if his or her employment with the Company or a Subsidiary has terminated before
the date the Award is actually paid unless the Compensation Committee in the exercise of its absolute discretion affirmatively directs
the Company not to pay such Award to, or on behalf of, such Participant.

c.                   
Award Limits. A Participant shall not receive payment of an Award for any Performance Period
in excess of $10,000,000.

		VII.	Determination and Timing of Awards

At the end of each applicable
Performance Period, the Compensation Committee shall certify the extent, if any, to which the measures established by the Compensation
Committee in accordance with Section V have been met. All Awards to Participants who are Executives will be made by the Compensation Committee
in its sole discretion. Awards to all other Participants shall be made by the Management Committee in its sole discretion. Awards will
be paid for a particular Plan Year on the March 15th following the end of the Plan Year, or if March 15th is not
a business day, the first business day immediately preceding the March 15th following the end of the Plan Year. Notwithstanding
the foregoing, however, Awards to a Participant who dies, whose employment is transferred to an Affiliate prior to the end of the Plan
Year pursuant to Section VI.a.(i), or who terminates employment prior to the end of the Plan Year pursuant to Section VI.a.(ii)
may be paid on another date within the Plan Year as determined by the Compensation Committee or the Management Committee, in their sole
discretion.

		VIII.	Method of Payment of Awards

a.                   
Payments of Awards. Except as otherwise provided in this Plan, Awards for each Participant
will be paid in cash in the local currency consistent with the Participant’s base salary.

b.                   Deferral of Payment of Award. An Award paid in cash may be deferred under The Coca-Cola Company
Deferred Compensation Plan (or comparable international plan, if any) if the language of the applicable plan so provides.

c.                   
Recapture of Award.

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(i)                 
If, within one year after receiving an Award, any Employee (a) renders services for any organization
which, in the sole judgment of the Compensation Committee or Management Committee, is or becomes competitive with the Company, or (b)
is terminated for a violation of any written policy of the Company, the Employee shall reimburse the Company the full amount of the Award,
except where prohibited by local law.

(ii)               
Any Award granted under this Plan will be subject to any recoupment or clawback policy that the Company
may adopt from time to time and to any requirement of applicable law, regulation or listing standard that requires the Company to recoup
or claw back compensation paid pursuant to such an Award.

d.                  
Withholding for Taxes. The Company will have the right to deduct from any and all Award payments
any taxes required to be withheld with respect to such payment, including hypothetical taxes under the Company’s Global Mobility
Policies and/or Tax Equalization Policy. For Participants who are Global Mobility Assignees or other international employees, all taxes
remain the Participant’s responsibility, except as expressly provided in the Company’s Global Mobility Policies and/or Tax
Equalization Policy. The Company and any Subsidiary (i) make no representations or undertaking regarding the treatment of any taxes in
connection with any Award; and (ii) do not commit to structure the terms of the Award to reduce or eliminate the Participant’s liability
for taxes.

e.                   
Payments to Estates. Awards and interest thereon, if any, which are due to a Participant pursuant
to the provisions hereof and which remain unpaid at the time of his or her death will be paid in full to the Participant’s estate.

f.                   
Offset for Monies Owed. Any payments made under this Plan will be offset for any monies that
the Management Committee determines are owed to the Company or any Subsidiary.

		IX.	Amendment and Termination

The Compensation Committee
may amend, modify, suspend, reinstate or terminate this Plan in whole or in part at any time or from time to time; provided, however,
that no such action will adversely affect any right or obligation with respect to any Award theretofore made. The Compensation Committee
and the Management Committee may deviate from the provisions of this Plan to the extent such committee deems appropriate to conform to
local, laws and practices.

		X.	Applicable Law

The Plan and all rules
and determinations made and taken pursuant hereto will be governed by the laws of the State of Delaware, to the extent not preempted by
federal law, and construed accordingly.

		XI.	Effect on Benefit Plans

Awards will not be included
in the computation of benefits under any group life insurance plan, travel accident insurance plan, personal accident insurance plan or
under Company policies such as severance pay and payment for accrued vacation, unless required by applicable laws.

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		XII.	Change in Control

If there is a Change in
Control as defined in this Section XII at any time during a Plan Year, (1) the Compensation Committee or the Management Committee promptly
shall determine the Award which would have been payable to each Participant under the Plan for such Plan Year if the Participant had continued
to work for the Company for such entire year and all performance goals established under Section V had been met in full for such Plan
Year by multiplying his target percentage by his annual salary as in effect on the date of such Change in Control and (2) each such Participant’s
nonforfeitable interest in his Award (as so determined by the Compensation Committee or the Management Committee) thereafter shall be
determined by multiplying such Award by a fraction, the numerator of which shall be the number of full, calendar months the Participant
is an employee of the Company during such Plan Year and the denominator is 12 or the number of full calendar months the Plan is in effect
during such Plan Year, whichever is less. The payment of a Participant’s nonforfeitable interest in his Award under this Section
XII shall be made in cash as soon as practicable after his employment by the Company terminates or as soon as practicable after the end
of such Plan Year, whichever comes first.

A “Change in Control,”
for purposes of this Section XII, will mean a change in control of a nature that would be required to be reported in response to Item
6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”) as in effect
on January 1, 2004, provided that such a change in control will be deemed to have occurred at such time as (i) any “person”
(as that term is used in Sections 13(d) and 14(d)(2) of the Exchange Act as in effect on January 1, 2004) is or becomes the beneficial
owner (as defined in Rule 13d-3 under the Exchange Act as in effect on January 1, 2004) directly or indirectly, of securities representing
20% or more of the combined voting power for election of directors of the then outstanding securities of the Company or any successor
of the Company; (ii) during any period of two consecutive years or less, individuals who at the beginning of such period constituted
the Board cease, for any reason, to constitute at least a majority of the Board, unless the election or nomination for election of each
new director was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning
of the period; (iii) the shareowners of the Company approve any merger or consolidation as a result of which its stock will be changed,
converted or exchanged (other than a merger with a wholly-owned subsidiary of the Company) or any liquidation of the Company or any sale
or other disposition of 50% or more of the assets or earning power of the Company, and such merger, consolidation, liquidation or sale
is completed; or (iv) the shareowners of the Company approve any merger or consolidation to which the Company is a party as a result
of which the persons who were shareowners of the Company immediately prior to the effective date of the merger or consolidation will
have beneficial ownership of less than 50% of the combined voting power for election of directors of the surviving corporation following
the effective date of such merger or consolidation, and such merger, consolidation, liquidation or sale is completed; provided, however,
that no Change in Control will be deemed to have occurred if, prior to such time as a Change in Control would otherwise be deemed to
have occurred, the Board determines otherwise. Additionally, no Change in Control will be deemed to have occurred under clause (i) if,
subsequent to such time as a Change of Control would otherwise be deemed to have occurred, a majority of the Directors in office prior
to the acquisition of the securities by such person determines otherwise.

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Exhibit 10.1

FORM OF NON-STATUTORY STOCK OPTION AGREEMENT
PURSUANT TO THE GENERAL DYNAMICS CORPORATION
AMENDED AND RESTATED 2012 EQUITY COMPENSATION PLAN
THIS OPTION AGREEMENT (the "Agreement") dated as of [DATE] (the "Grant Date") is made between General Dynamics Corporation (the "Company") and [NAME] (the "Optionee").
WHEREAS, the Company sponsors the General Dynamics Corporation Amended and Restated 2012 Equity Compensation Plan (the "Plan"), pursuant to which the Company may grant Options to purchase shares of Common Stock; and
WHEREAS, the Company desires to grant the Optionee a Non-Statutory Stock Option to purchase the number of shares of Common Stock provided for herein.
NOW, THEREFORE, in consideration of the recitals and the mutual agreements herein contained, the parties hereto agree as follows:
1.Grant of Option.
(a)Number of Shares; Type of Option.  The Company hereby grants to the Optionee an Option (the “Option Grant”) to purchase [NUMBER] shares of Common Stock (the "Option Shares") on the terms and conditions set forth in this Agreement.  The Option is intended to be a Non-Statutory Stock Option.
(b)Incorporation of Plan by Reference, Etc.  The provisions of the Plan are hereby incorporated herein by reference.  Except as otherwise expressly set forth herein, this Agreement will be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Agreement will have the definitions set forth in the Plan.  The Committee will have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations under them, and its decisions will be binding and conclusive upon the Optionee and the Optionee's legal representative in respect of any questions arising under the Plan or this Agreement.  If there exists any inconsistency between the terms of this Agreement and the Plan, the terms contained in the Plan will govern.  If there exists any inconsistency between the terms of the Option as provided for herein (including, but not limited to, terms relating to the number of Option Shares, the Stated Expiration Date, the exercise price and the exercisability of the Option) and the terms as indicated in the records maintained by Company, the terms as indicated in the records of the Company will govern.
2.Terms and Conditions.
(a)Exercise Price.  The exercise price for the purchase of Option Shares upon the exercise of all or any portion of the Option will be $[PRICE] per share of Common Stock.
(b)Expiration Date.  Subject to earlier expiration as provided in Sections 2(f) and 2(g) below, the Option will expire at the close of business on the business day immediately preceding the tenth anniversary of the Grant Date (the "Stated Expiration Date").

(c)Exercisability of Option.  
(i)General.  Except as provided in Section 2(c)(ii) and (iii) below, the Option Grant will become vested and exercisable with respect to a number of Option Shares (rounded down to the nearest whole share) as follows: one-half (1/2) of the Option Shares on the second anniversary of the Grant Date and the remaining Option Shares on the third anniversary of the Grant Date, in each case, only if either: (A) the Optionee is employed as an employee of the Company or any of its Subsidiaries or serves as a director of the Company as of the applicable vesting date, or (B) the Optionee’s employment with the Company and its Subsidiaries or service as a director of the Company is terminated due to Retirement. For purposes of this Agreement, "Retirement" means, (x) with respect to an employee who is not an elected officer of the Company on the date on which the employee's employment with the Company and its Subsidiaries terminates, the termination of employment after the attainment of age 55 with at least five (5) or more years of continuous service and (y) with respect to an employee who is an elected officer of the Company on the date on which the employee's employment with the Company and its Subsidiaries terminates, termination of employment after attaining age 55 with the consent of the Chief Executive Officer of the Company (or in the case of the Chief Executive Officer, with the consent of the Committee).
(ii)Death; Total and Permanent Disability.  If the Optionee's employment with the Company and its Subsidiaries or service as a director of the Company is terminated due to death or total and permanent disability, in each case, prior to the third anniversary of the Grant Date, then the remaining unvested portion of the Option Grant will become fully vested and exercisable on the date of such termination with respect to the remaining unvested Option Shares.
(iii)Divestiture or Discontinued Operation.  If, prior to the third anniversary of the Grant Date, the Optionee's employment with the Company and its Subsidiaries or service as a director of the Company is terminated as a result of a divestiture or discontinued operation of a division or a Subsidiary with which the Optionee was associated, then the Option Grant will become vested and exercisable on the anniversary of the Grant Date next following such termination with respect to a number of Option Shares equal to the excess of (i) product of (A) the number of Option Shares and (B) a fraction, the numerator of which will be the number of days from the Grant Date to the last day of the month in which such termination occurs and the denominator of which will be 1,095, such product to be rounded down to the nearest whole share over (ii) the number of Option Shares, if any, with respect to which the Option Grant had become vested and exercisable prior to such termination.  
(d)Change in Control.  Notwithstanding the foregoing, in the event that within two (2) years following a Change in Control, the Optionee's service with the Company and its affiliates is terminated (i) by the Company or any of its affiliates for any reason other than for Cause (and other than due to death, disability or Retirement) or (ii) by the Optionee for Good Reason, then the Option Grant, to the extent then outstanding, will become immediately vested and exercisable.
(e)Method of Exercise; Tax Withholding.  The exercise price for any shares purchased pursuant to the exercise of all or part of the Option will be paid in accordance with 
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Section 10(c) of the Plan.  The Company is authorized to withhold from any payment relating to the Option, including from a distribution of Common Stock, or any payroll or other payment to the Optionee, amounts of withholding and other taxes due or potentially payable in connection with any transaction involving the Option, and to take such other action as the Committee may deem advisable to enable the Company and the Optionee to satisfy obligations for the payment of withholding taxes and other tax obligations relating to the Option.  This authority shall include authority to withhold or receive Common Stock or other property and to make cash payments in respect thereof in satisfaction of the Optionee's tax obligations, either on a mandatory or elective basis in the discretion of the Committee.
(f)Exercise Following Termination.  Notwithstanding anything in this Agreement to the contrary, except in the case of termination due to Retirement, the Option will expire upon the Optionee's termination of employment or service as a director; provided, however that to the extent that the Option is exercisable at the time of the Optionee's termination of employment or service as a director, or becomes exercisable following such termination pursuant to Section 2(c) or Section (d) above, the Option will expire as follows (subject to earlier expiration pursuant to Section 2(g) below):
(i)Death; Total and Permanent Disability; Retirement; Divestiture.  On the Stated Expiration Date following the Optionee's termination of employment or service as a director due to death, total and permanent disability, Retirement or as a result of a divestiture or discontinued operation of a division or a Subsidiary with which the Optionee was associated.  
(ii)Lay-Off.  One (1) year (but in no event later than the Stated Expiration Date) following the Optionee's termination of employment if the Optionee's employment terminates due to lay-off (other than as a result of a divestiture or discontinued operation of a division or a Subsidiary with which the Optionee was associated).
(iii)Other than Death; Total and Permanent Disability; Retirement; Divestiture; Lay-Off.  Ninety (90) days (but in no event later than the Stated Expiration Date) following the Optionee's termination of employment or service as a director for any reason (other than those set forth in clauses (i) and (ii) above).
(g)Harm.  Notwithstanding anything in this Agreement to the contrary, if prior to the Stated Expiration Date the Optionee causes Harm (as defined below) to the Company or any of its Subsidiaries, the Option Grant, to the full extent then remaining outstanding, will immediately be forfeited for no consideration.  For purposes of this Agreement, “Harm” includes, but is not limited to, any actions that adversely affect the financial standing, reputation, or products of the Company or any of its Subsidiaries, or any actions involving personal dishonesty, a felony conviction related to the Company or any of its Subsidiaries, or any material violation of any confidentiality or non-competition agreement with the Company or any of its Subsidiaries.
(h)Nontransferability.  The Option granted hereunder is not transferable by the Optionee otherwise than by will or the laws of descent and distribution, and the Option may be exercised during the lifetime of the Optionee only by the Optionee or the Optionee's guardian 
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or legal representative.  The terms of the Option will be binding upon the beneficiaries, executors, administrators, heirs and successors of the Optionee.
3.Nature of Grant.  In accepting this Option, the Optionee acknowledges that: 
(a)the Plan is discretionary in nature and established voluntarily by the Company and may be modified, amended, suspended or terminated by the Company at any time, as provided in the Plan, and the award of the Option is at the sole discretion of the Company and does not create any contractual or other right to receive future awards of Options, or benefits in lieu of Options even if Options have been awarded repeatedly in the past; 
(b)the Option is not part of normal or expected compensation or salary for any purposes, including calculation of any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; and
(c)nothing in the Plan or in this Agreement will confer upon the Optionee any right to continue in the employ of the Company or any of its Subsidiaries nor interfere with or restrict in any way the right of the Company or any of its Subsidiaries, which is hereby expressly reserved, to remove, terminate or discharge the Optionee at any time for any reason whatsoever, with or without cause.
4.Data Privacy.  The Optionee hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of his or her personal data as described in this document by and among, as applicable, the Company and its Subsidiaries, for the exclusive purpose of implementing, administering and managing the Optionee's participation in the Plan.
The Optionee understands that the Company and its Subsidiaries may hold certain personal information about the Optionee, including his or her name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all options or any other entitlement to shares of stock awarded, canceled, exercised, vested, unvested or outstanding in the Optionee's favor, for the purpose of implementing, administering and managing the Plan ("Data").  Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in the Optionee's country or elsewhere and that the recipients' country may have different data privacy laws and protections than the Optionee's country.  The Optionee may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative.  The Optionee authorizes the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing his or her participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Optionee may elect to deposit any shares acquired upon exercise of the Option.  Data will be held only as long as is necessary to implement, administer and manage the Optionee's participation in the Plan.  The Optionee may, at any time, view Data, request additional information about the storage and 
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processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing his or her local human resources representative.  Refusing or withdrawing his or her consent may affect the Optionee's ability to participate in the Plan.  For more information on the consequences of a refusal to consent or withdrawal of consent, the Optionee may contact his or her local human resources representative.
5.[Compensation Recoupment Policy.  This Agreement shall be subject to the Company's Compensation Recoupment Policy.  The Optionee acknowledges receipt of the Compensation Recoupment Policy and has read and understands the terms and conditions of the Compensation Recoupment Policy.] [THIS PROVISION IS INCLUDED ONLY IN AGREEMENTS FOR CERTAIN EXECUTIVE OFFICERS WHO ARE SUBJECT TO THE GENERAL DYNAMICS COMPENSATION RECOUPMENT POLICY.]
6.Miscellaneous.
(a)Modification; Entire Agreement; Waiver.  No change, modification or waiver of any provision of this Agreement will be valid unless the same is agreed to in writing by the parties hereto.  This Agreement and the Plan contain the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and therein and supercede all prior communications, representations and negotiations in respect thereof.  The failure of the Company to enforce, at any time, any provision of this Agreement will in no way be construed to be a waiver of such provision or of any other provision hereof.
(b)Bound by Plan and Other Related Documents.  By accepting this Option, the Optionee acknowledges that the Optionee has received a copy of the Plan and the General Dynamics Corporate Policy regarding insider trading compliance (the "Trading Policy") and has had an opportunity to review the Plan and the Trading Policy and agrees to be bound by all the terms and provisions of the Plan and the Trading Policy.
(c)Successors.  The terms of this Agreement will be binding upon and inure to the benefit of the Company, its successors and assigns, and of the beneficiaries, executors, administrators, heirs and successors of the Optionee.
(d)Choice of Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction.  For purposes of litigating any dispute that arises under this Award or this Award Agreement, the parties hereby submit to and consent to the jurisdiction of the State of Virginia, and agree that such litigation shall be conducted exclusively in the courts of Virginia or the federal courts for the Eastern District of Virginia.
(e)Severability.  In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining provisions of this Agreement, and this Agreement shall be construed and enforced as if such illegal or invalid provision had not been included.
5

(f)Language.  If the Optionee has received this Agreement or any other document related to the Plan translated into a language other than English and if the translated version is different that the English version, the English version will control.
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