Document:

EX-10.24

 Exhibit 10.24 

AMENDED AND RESTATED 

COMMSCOPE, INC. 

1997 LONG-TERM INCENTIVE PLAN 

(as amended and restated effective May 7, 2004) 

 TABLE OF CONTENTS 

 

									
	 	  	 	  	Page	 
	 1.
	  	Establishment, Purpose and Effective Date.	  	 	1	  
				
		  	(a)	  	Establishment	  	 	1	  
				
		  	(b)	  	Purpose	  	 	1	  
				
		  	(c)	  	Effective Date	  	 	1	  
			
	 2.
	  	Definitions.	  	 	1	  
			
	 3.
	  	Scope of the Plan.	  	 	5	  
				
		  	(a)	  	Number of Shares Available Under the Plan	  	 	5	  
				
		  	(b)	  	Reduction in the Available Shares in Connection with Award Grants	  	 	5	  
				
		  	(c)	  	Effect of the Expiration or Termination of Awards	  	 	6	  
			
	 4.
	  	Administration.	  	 	6	  
				
		  	(a)	  	Committee Administration	  	 	6	  
				
		  	(b)	  	Board Reservation and Delegation	  	 	6	  
				
		  	(c)	  	Committee Authority	  	 	6	  
				
		  	(d)	  	Committee Determinations Final	  	 	7	  
			
	 5.
	  	Eligibility.	  	 	7	  
			
	 6.
	  	Conditions to Grants.	  	 	7	  
				
		  	(a)	  	General Conditions.	  	 	7	  
				
		  	(b)	  	Grant of Options and Option Price	  	 	8	  
				
		  	(c)	  	Grant of Incentive Stock Options	  	 	8	  
				
		  	(d)	  	Grant of Shares of Restricted Stock	  	 	9	  
				
		  	(e)	  	Grant of Performance Units and Performance Shares	  	 	10	  
				
		  	(f)	  	Grant of Phantom Stock	  	 	11	  
				
		  	(g)	  	Grant of Director’s Shares	  	 	12	  
				
		  	(h)	  	Tandem Awards	  	 	12	  
			
	 7.
	  	Non-transferability.	  	 	12	  
			
	 8.
	  	Exercise.	  	 	12	  
				
		  	(a)	  	Exercise of Options	  	 	12	  
				
		  	(b)	  	Exercise of Performance Units	  	 	13	  
				
		  	(c)	  	Payment of Performance Shares	  	 	13	  
				
		  	(d)	  	Payment of Phantom Stock Awards	  	 	14	  
				
		  	(e)	  	Exercise, Cancellation, Expiration or Forfeiture of Tandem Awards	  	 	14	  
			
	 9.
	  	Spin-off and Substitute Options.	  	 	14	  

  
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	 10.
	  	Effect of Certain Transactions.	  	 	14	  
			
	 11.
	  	Mandatory Withholding Taxes.	  	 	14	  
			
	 12.
	  	Termination of Employment.	  	 	15	  
			
	 13.
	  	Securities Law Matters.	  	 	15	  
			
	 14.
	  	No Funding Required.	  	 	15	  
			
	 15.
	  	No Employment Rights.	  	 	15	  
			
	 16.
	  	Rights as a Stockholder.	  	 	16	  
			
	 17.
	  	Nature of Payments.	  	 	16	  
			
	 18.
	  	Non-Uniform Determinations.	  	 	16	  
			
	 19.
	  	Adjustments.	  	 	16	  
			
	 20.
	  	Amendment of the Plan.	  	 	17	  
			
	 21.
	  	Termination of the Plan.	  	 	17	  
			
	 22.
	  	No Illegal Transactions.	  	 	17	  
			
	 23.
	  	Governing Law.	  	 	17	  
			
	 24.
	  	Severability.	  	 	17	  
			
	 25.
	  	Translations.	  	 	17	  

  
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 1. Establishment, Purpose and Effective Date. 

(a) Establishment. The Company hereby establishes the Amended and Restated CommScope, Inc. 1997 Long-Term Incentive
Plan (as set forth herein and from time to time amended, the “Plan”). 
 (b) Purpose. The primary purpose of
the Plan is to provide a means by which key employees and directors of the Company and its Subsidiaries can acquire and maintain stock ownership, thereby strengthening their commitment to the success of the Company and its Subsidiaries and their
desire to remain employed by the Company and its Subsidiaries, focusing their attention on managing the Company as an equity owner, and aligning their interests with those of the Company’s stockholders. The Plan also is intended to attract and
retain key employees and to provide such employees with additional incentive and reward opportunities designed to encourage them to enhance the profitable growth of the Company and its Subsidiaries. 

(c) Effective Date. The Plan shall become effective upon its adoption by the Board. 

2. Definitions. As used in the Plan, terms defined parenthetically immediately after their use shall have the respective meanings
provided by such definitions and the terms set forth below shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined): 

 

	 	(a)	“Award” means Options, shares of restricted Stock, performance units, performance shares or Director’s Shares granted under the Plan. 

 

	 	(b)	“Award Agreement” means the written agreement by which an Award is evidenced. 

  

	 	(c)	“Beneficial Owner,” “Beneficially Owned” and “Beneficially Owning” shall have the meanings applicable under Rule 13d-3 promulgated under the 1934 Act. 

 

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

  

	 	(e)	“Change in Capitalization” means any increase or reduction in the number of shares of Stock, or any change in the shares of Stock or exchange of shares of Stock for a different number or kind of shares or
other securities by reason of a stock dividend, extraordinary dividend, stock split, reverse stock split, share combination, reclassification, recapitalization, merger, consolidation, spin-off, split-up, reorganization, issuance of warrants or
rights, liquidation, exchange of shares, repurchase of shares, change in corporate structure, or similar event, of or by the Company. 

  

	 	(f)	“Change of Control” means, any of the following: 

 (i) the
acquisition by any Person of Beneficial Ownership of Voting Securities which, when added to the Voting Securities then Beneficially Owned by such Person, would result in such Person Beneficially Owning 33% or more of the combined Voting Power of the
Company’s then outstanding Voting Securities; provided, however, that for purposes of this paragraph (i), a Person shall not be deemed to have made an acquisition of Voting Securities if such Person: (1) acquires Voting
Securities as a result of a stock split, stock dividend or other corporate restructuring in which all stockholders of the class of such Voting Securities are treated on a pro rata basis; (2) acquires the Voting Securities directly from the
Company; (3) becomes the Beneficial Owner of 33% or more of the combined Voting Power of the Company’s then outstanding Voting Securities solely as a result of the acquisition of Voting Securities by the Company or any Subsidiary which, by
reducing the number of Voting Securities outstanding, increases the proportional number of shares Beneficially Owned by such Person, provided that if (x) a Person would own at least such percentage as a result of the acquisition by the Company
or any Subsidiary and (y) after such acquisition by the 

  
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Company or any Subsidiary, such Person acquires Voting Securities, then an acquisition of Voting Securities shall have occurred; (4) is the Company or any corporation or other Person of
which a majority of its voting power or its equity securities or equity interest is owned directly or indirectly by the Company (a “Controlled Entity”); or (5) acquires Voting Securities in connection with a “Non-Control
Transaction” (as defined in paragraph (iii) below); or 
 (ii) the individuals who, as of the Effective Date,
are members of the Board (the “Incumbent Board”) cease for any reason to constitute at least two-thirds of the Board; provided, however, that if either the election of any new director or the nomination for election of any new
director by the Company’s stockholders was approved by a vote of at least two-thirds of the Incumbent Board prior to such election or nomination, such new director shall be considered as a member of the Incumbent Board; provided further,
however, that no individual shall be considered a member of the Incumbent Board if such individual initially assumed office as a result of either an actual or threatened “Election Contest” (as described in Rule 14a-11 promulgated
under the 1934 Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Election
Contest or Proxy Contest; or 
 (iii) consummation of: 

(A) a merger, consolidation or reorganization involving the Company (a “Business Combination”), unless 

(1) the stockholders of the Company, immediately before the Business Combination, own, directly or indirectly immediately
following the Business Combination, at least a majority of the combined voting power of the outstanding voting securities of the corporation resulting from the Business Combination (the “Surviving Corporation”) in substantially the same
proportion as their ownership of the Voting Securities immediately before the Business Combination, and 
 (2) the
individuals who were members of the Incumbent Board immediately prior to the execution of the agreement providing for the Business Combination constitute at least a majority of the members of the Board of Directors of the Surviving Corporation, and

 (3) no Person (other than the Company or any Controlled Entity, a trustee or other fiduciary holding securities
under one or more employee benefit plans or arrangements (or any trust forming a part thereof) maintained by the Company, the Surviving Corporation or any Controlled Entity, or any Person who, immediately prior to the Business Combination, had
Beneficial Ownership of 33% or more of the then outstanding Voting Securities) has Beneficial Ownership of 33% or more of the combined voting power of the Surviving Corporation’s then outstanding voting securities (a Business Combination
satisfying the conditions of clauses (1), (2) and (3) of this subparagraph (A) shall be referred to as a “Non-Control Transaction”); 

(B) a complete liquidation or dissolution of the Company; or 

(C) the sale or other disposition of all or substantially all of the assets of the Company (other than a transfer to a
Controlled Entity). 
 Notwithstanding the foregoing, a Change of Control shall not be deemed to occur solely because 33% or more of the
then outstanding Voting Securities is Beneficially Owned by (x) a trustee or other fiduciary holding securities under one or more employee benefit plans or arrangements (or any trust forming a part thereof) maintained by the Company or any
Controlled Entity or (y) any corporation which, immediately prior to its acquisition of such interest, is owned directly or indirectly by the 

  
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stockholders of the Company in the same proportion as their ownership of stock in the Company immediately prior to such acquisition. 

 

	 	(g)	“Committee” means the committee of the Board appointed pursuant to Article 4. 

  

	 	(h)	“Company” means CommScope, Inc., a Delaware corporation. 

  

	 	(i)	“Director’s Shares” means the shares of Stock awarded to a nonemployee director of the Company pursuant to Article 6(g). 

 

	 	(j)	“Disability” means a mental or physical condition which, in the opinion of the Committee, renders a Grantee unable or incompetent to carry out the job responsibilities which such Grantee held or the duties to
which such Grantee was assigned at the time the disability was incurred, and which is expected to be permanent or for an indefinite duration. 

  

	 	(k)	“Effective Date” means the date that the Plan is adopted by the Board. 

  

	 	(l)	“Fair Market Value” of any security of the Company or any other issuer means, as of any applicable date: 

(i) if the security is listed for trading on the New York Stock Exchange, the closing price at the close of the primary
trading session of the security on such date on the New York Stock Exchange, or if there has been no such closing price of the security on such date, on the next preceding date on which there was such a closing price, or 

(ii) if the security is not so listed, but is listed on another national securities exchange, the closing price at the
close of the primary trading session of the security on such date on such exchange, or if there has been no such closing price of the security on such date, on the next preceding date on which there was such a closing price, or 

(iii) if the security is not listed for trading on the New York Stock Exchange or on another national securities exchange,
the last sale price at the end of normal market hours of the security on such date as quoted on the National Association of Securities Dealers Automated Quotation System (“NASDAQ”) or, if no such price shall have been so quoted for such
date, on the next preceding date for which such price was so quoted, or 
 (iv) if the security is not listed for
trading on a national securities exchange or is not authorized for quotation on NASDAQ, the fair market value of the security as determined in good faith by the Committee, and in the case of Incentive Stock Options, in accordance with
Section 422 of the Internal Revenue Code. 
  

	 	(m)	“Grant Date” means the date of grant of an Award determined in accordance with Article 6. 

  

	 	(n)	“Grantee” means an individual who has been granted an Award. 

  

	 	(o)	“Incentive Stock Option” means an Option satisfying the requirements of Section 422 of the Internal Revenue Code and designated by the Committee as an Incentive Stock Option. 

 

	 	(p)	“Internal Revenue Code” means the Internal Revenue Code of 1986, as amended, and regulations and rulings thereunder. References to a particular Section of the Internal Revenue Code shall include references to
successor provisions. 

  

	 	(q)	“Measuring Period” has the meaning specified in Article 6(f)(ii)(B). 

  
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	 	(r)	“Minimum Consideration” means the $.01 par value per share of Stock or such larger amount determined pursuant to resolution of the Board to be capital within the meaning of Section 154 of the Delaware
General Corporation Law. 

  

	 	(s)	“1934 Act” means the Securities Exchange Act of 1934, as amended. 

  

	 	(t)	“Nonqualified Stock Option” means an Option which is not an Incentive Stock Option or other type of statutory stock option under the Internal Revenue Code. 

 

	 	(u)	“Option” means an option to purchase Stock granted or issued under the Plan, including Substitute and Spin-off Options. 

  

	 	(v)	“Option Price” means the per share purchase price of (i) Stock subject to an Option or (ii) restricted Stock subject to an Option. 

 

	 	(w)	“Performance-Based Compensation” means any Option or Award that is intended to constitute “performance based compensation” within the meaning of Section 162(m)(4)(C) of the Internal Revenue Code
and the regulations promulgated thereunder. 

  

	 	(x)	“Performance Percentage” has the meaning specified in Article 6(f)(ii)(C). 

  

	 	(y)	“Person” means a person within the meaning of Sections 13(d) and 14(d) of the 1934 Act. 

  

	 	(z)	“Plan” has the meaning set forth in Article 1(a). 

  

	 	(aa)	“SEC” means the Securities and Exchange Commission. 

  

	 	(bb)	“Section 16 Grantee” means a person subject to potential liability with respect to equity securities of the Company under Section 16(b) of the 1934 Act. 

 

	 	(cc)	“Spin-off Option” means an Option that has been issued under this Plan to certain named persons pursuant to the Employee Benefits Allocation Agreement between General Semiconductor, Inc. (“GS”),
CommScope, Inc. and the Company, dated June 25, 1997, as amended, modified, or otherwise supplemented (the “Benefits Agreement”). 

  

	 	(dd)	“Stock” means common stock, par value $.01 per share, of the Company. 

  

	 	(ee)	“Subsidiary” means (i) except as provided in subsection (ii) below, any corporation which is a subsidiary corporation within the meaning of Section 424(f) of the Internal Revenue Code with
respect to the Company, and (ii) in relation to the eligibility to receive Options or Awards other than Incentive Stock Options, any entity, whether or not incorporated, in which the Company directly or indirectly owns either (A) Voting
Securities possessing at least 50% of the Voting Power of such entity, or (B) if such entity does not issue Voting Securities, at least 50% of the ownership interests in such entity. 

 

	 	(ff)	“Substitute Option” means an Option that has been issued under this Plan to certain persons pursuant to the Benefits Agreement. 

 

	 	(gg)	“10% Owner” means a person who owns stock (including stock treated as owned under Section 424(d) of the Internal Revenue Code) possessing more than 10% of the Voting Power of the Company.

  

	 	(hh)	“Termination of Employment” occurs the first day on which an individual is for any reason no longer employed by, or providing services to, the Company or any of its Subsidiaries, or with respect to an
individual who is an employee of a Subsidiary, the first day on which the Company no longer owns Voting Securities possessing at least 50% of the Voting Power of such Subsidiary. 

  
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	 	(ii)	“Voting Power” means the combined voting power of the then outstanding Voting Securities. 

  

	 	(jj)	“Voting Securities” means, with respect to the Company or any Subsidiary, any securities issued by the Company or such Subsidiary, respectively, which generally entitle the holder thereof to vote for the
election of directors of the Company. 

 3. Scope of the Plan. 

(a) Number of Shares Available Under the Plan. The maximum number of shares of Stock that may be made the subject of
Awards granted under the Plan is 11,100,000 plus the number of shares of Stock that are covered by Substitute Options and Spin-off Options (or the number and kind of shares of Stock or other securities to which such shares of Stock are adjusted upon
a Change in Capitalization pursuant to Article 18); provided, however , that in the aggregate, not more than 1,100,000 shares of Stock may be made the subject of Awards other than Options. The maximum number of shares of Stock that may
be the subject of Options (other than Substitute Options and Spin-off Options) and Awards granted to any individual pursuant to the Plan in any three (3) calendar year period may not exceed 750,000. The maximum dollar amount of cash or the Fair
Market Value of Stock that any individual may receive in any calendar year in respect of performance units denominated in dollars may not exceed $2,000,000. The Company shall reserve for the purpose of the Plan, out of its authorized but unissued
shares of Stock or out of shares held in the Company’s treasury, or partly out of each, such number of shares as shall be determined by the Board. The Board shall have the authority to cause the Company to purchase from time to time shares of
Stock to be held as treasury shares and used for or in connection with Awards. The issuance of Substitute Options and Spin-off Options shall not reduce the shares available for grants under the Plan or to a Grantee in any calendar year. 

(b) Reduction in the Available Shares in Connection with Award Grants. Upon the grant of an Award, the number of shares
of Stock available under Article 3(a) for the granting of further Awards shall be reduced as follows: 

(i) Generally. In connection with the granting of each Award, other than a performance unit denominated in dollars,
the number of shares of Stock available under Article 3(a) for the granting of further Awards shall be reduced by a number of shares equal to the number of shares of Stock in respect of which the Award is granted or denominated; provided,
however, that if any Award is exercised by tendering shares of Stock, either actually or by attestation, to the Company as full or partial payment of the exercise price, the maximum number of shares of Stock available under Article 3(a)
shall be increased by the number of shares of Stock so tendered. 
 (ii) Performance Units Denominated in
Dollars. In connection with the granting of a performance unit denominated in dollars, there shall be no reduction in the number of shares of Stock available under Article 3(a) for the granting of further Awards. If a performance unit
denominated in dollars is settled in Stock, the number of shares of Stock available under Article 3(a) for the granting of further Awards shall be reduced at the time of settlement by the number of shares of Stock issued in connection with the
settlement of the performance unit. 
 (iii) Cash Settlement; Shares Subject to Multiple Awards. Notwithstanding
anything contained herein to the contrary, (A) if an Award is granted that cannot be settled in shares of Stock, there shall be no reduction in the number of shares of Stock available under Article 3(a) for the granting of further Awards,
and (B) where two or more Awards are granted with respect to the same shares of Stock, such shares shall be taken into account only once for purposes of this Article 3(b). 

  
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 (c) Effect of the Expiration, Termination, Cancellation or Settlement of
Awards. If and to the extent an Option or Award (including a Substitute Option or a Spin-off Option) expires, terminates or is canceled, settled in cash (including the settlement of tax withholding obligations using shares of Stock) or forfeited
for any reason without having been exercised in full (including, without limitation, a cancellation of an Option pursuant to Article 4(c)(vi)), the shares of Stock associated with the expired, terminated, canceled, settled or forfeited portion
of the Award (to the extent the number of shares available for the granting of Awards was reduced pursuant to Article 3(b)) shall again become available for Awards under the Plan. 

4. Administration. 

(a) Committee Administration. The Plan shall be administered by the Committee, which shall consist of not less than two
“non-employee directors” within the meaning of Rule 16b-3, and to the extent necessary for any Award intended to qualify as Performance-Based Compensation to so qualify, each member of the Committee shall be an “outside
director” within the meaning of Section 162(m) of the Internal Revenue Code. For purposes of the preceding sentence, if one or more members of the Committee is not a “non-employee director” within the meaning of Rule 16b-3
and an “outside director” within the meaning of Section 162(m) of the Internal Revenue Code but recuses himself or herself or abstains from voting with respect to a particular action taken by the Committee, then the Committee, with
respect to that action, shall be deemed to consist only of the members of the Committee who have not recused themselves or abstained from voting. 

(b) Board Reservation and Delegation. Except to the extent necessary for any Award intended to qualify as
Performance-Based Compensation to so qualify, the Board may, in its discretion, reserve to itself or exercise any or all of the authority and responsibility of the Committee hereunder and may also delegate to another committee of the Board any or
all of the authority and responsibility of the Committee with respect to Awards to Grantees who are not Section 16 Grantees at the time any such delegated authority or responsibility is exercised. Such other committee may consist of one or more
directors who may, but need not be, officers or employees of the Company or of any of its Subsidiaries. To the extent that the Board has reserved to itself, or exercised the authority and responsibility of the Committee, or delegated the authority
and responsibility of the Committee to such other committee, all references to the Committee in the Plan shall be to the Board or to such other committee. 

(c) Committee Authority. The Committee shall have full and final authority, in its discretion, but subject to the
express provisions of the Plan, as follows: 
 (i) to grant Awards, 

(ii) to determine (A) when Awards may be granted, and (B) whether or not specific Awards shall be identified
with other specific Awards, and if so, whether they shall be exercisable cumulatively with, or alternatively to, such other specific Awards, 

(iii) to issue Substitute Options and Spin-off Options, 

(iv) to interpret the Plan and to make all determinations necessary or advisable for the administration of the Plan, 

(v) to prescribe, amend, and rescind rules and regulations relating to the Plan, including, without limitation, rules with
respect to the exercisability and nonforfeitability of Awards upon the Termination of Employment of a Grantee, 

(vi) to determine the terms and provisions of the Award Agreements, which need not be identical and, with the consent of
the Grantee, to modify any such Award Agreement at any time, 

  
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 (vii) to cancel, with the consent of the Grantee, outstanding Awards, 

(viii) except with respect to Nonqualified Stock Options granted to nonemployee directors pursuant to
Article 6(b)(ii)(A) hereof, to accelerate the exercisability of, and to accelerate or waive any or all of the restrictions and conditions applicable to, any Award, 

(ix) to authorize any action of or make any determination by the Company as the Committee shall deem necessary or
advisable for carrying out the purposes of the Plan, and 
 (x) to impose such additional conditions, restrictions, and
limitations upon the grant, exercise or retention of Awards as the Committee may, before or concurrently with the grant thereof, deem appropriate, including, without limitation, requiring simultaneous exercise of related identified Awards, and
limiting the percentage of Awards which may from time to time be exercised by a Grantee. 
 Notwithstanding anything herein to the contrary,
the exercise price of outstanding Options may not be decreased (except pursuant to Article 19 of the Plan) and Options may not be cancelled or forfeited and re-granted to effect the same result. Notwithstanding anything herein to the contrary,
with respect to Grantees working outside the United States, the Committee may determine the terms and provisions of the Award Agreements and make such adjustments or modifications to Awards as are necessary and advisable to fulfill the purposes of
the Plan. 
 (d) Committee Determinations Final. The determination of the Committee on all matters relating to the
Plan or any Award Agreement shall be conclusive and final. No member of the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any Award. 

5. Eligibility. 
 Awards
may be granted to any employee of the Company or any of its Subsidiaries, and Nonqualified Stock Options may be granted to nonemployee directors of the Company pursuant to Article 6(b)(ii)(B), and shares of restricted Stock may be granted to
nonemployee directors of the Company pursuant to Article 6(d). In selecting the individuals to whom Awards may be granted, as well as in determining the number of shares of Stock subject to, and the other terms and conditions applicable to,
each Award, the Committee shall take into consideration such factors as it deems relevant in promoting the purposes of the Plan. In addition, Nonqualified Stock Options will be automatically granted to nonemployee directors of the Company, as set
forth in Article 6(b)(ii)(A), and Director’s Shares will be automatically issued to nonemployee directors of the Company pursuant to Article 6(g). 

6. Conditions to Grants. 

(a) General Conditions. 

(i) The Grant Date of an Award shall be the date on which the Committee grants the Award or such later date as specified in
advance by the Committee. 
 (ii) The term of each Award (subject to Article 6(c) with respect to Incentive Stock
Options) shall be a period of not more than ten years from the Grant Date and shall be subject to earlier termination as provided herein or in the applicable Award Agreement; provided, however, that the Committee may provide that an Option
(other than an Incentive Stock Option) may, upon the death of the Grantee, be exercised for up to one year following the date of the Grantee’s death even if such period extends beyond ten years from the date the Option is granted. 

(iii) A Grantee may, if otherwise eligible, be granted additional Awards in any combination. 

  
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 (iv) The Committee may grant Awards with terms and conditions which differ among
the Grantees thereof. To the extent not set forth in the Plan, the terms and conditions of each Award shall be set forth in an Award Agreement. 

(b) Grant of Options and Option Price. The Committee may, in its discretion, and shall as provided in
Article 6(b)(ii), grant Options as follows: 
 (i) Employee Options. Options to acquire unrestricted Stock or
restricted Stock may be granted to any employee eligible under Article 5 to receive Awards. No later than the Grant Date of any Option, the Committee shall determine the Option Price which shall not be less than 100% of the Fair Market Value of
the Stock on the Grant Date. 
 (ii) Nonemployee Director Options. 

(A). Automatic Grants. Nonqualified Stock Options with respect to 20,000 shares of unrestricted Stock shall be
granted to each nonemployee director of the Company upon his or her initial election to the Board and every three years thereafter on the anniversary of such nonemployee director’s initial election to the Board as long as such nonemployee
director is then still serving on the Board. 
 (B). Discretionary Grants . Nonqualified Stock Options to
acquire unrestricted or restricted stock may be granted to nonemployee directors of the Company from time to time. 

(C). Terms Applicable to all Nonemployee Director Options. Each Nonqualified Stock Option granted to a nonemployee
director will be granted at an Option Price equal to 100% of the Fair Market Value of the Stock on the Grant Date, will become exercisable with respect to one-third of the underlying shares on each of the first, second and third anniversaries of the
Grant Date, and will have a term of ten years. If a nonemployee director ceases to serve as a director of the Company for any reason, any Nonqualified Stock Option granted to such nonemployee director shall be exercisable during its remaining term,
to the extent that such Nonqualified Stock Option was exercisable on the date such nonemployee director ceased to be a director. 

(c) Grant of Incentive Stock Options. At the time of the grant of any Option, the Committee may designate that such
Option shall be an Incentive Stock Option. Any Option designated as an Incentive Stock Option: 
 (i) shall have an Option
Price of (A) not less than 100% of the Fair Market Value of the Stock on the Grant Date or (B) in the case of a 10% Owner, not less than 110% of the Fair Market Value of the Stock on the Grant Date; 

(ii) shall have a term of not more than ten years (five years, in the case of a 10% Owner) from the Grant Date, and shall be
subject to earlier termination as provided herein or in the applicable Award Agreement; 
 (iii) shall, if, with respect to
any grant, the aggregate Fair Market Value of Stock (determined on the Grant Date) of all Incentive Stock Options granted under the Plan and “incentive stock options” (within the meaning of Section 422 of the Internal Revenue Code)
granted under any other stock option plan of the Grantee’s employer or any parent or subsidiary thereof (in either case determined without regard to this Article 6(c)) are exercisable for the first time during any calendar year exceeds
$100,000, be treated as Nonqualified Stock Options. For purposes of the foregoing sentence, Incentive Stock Options shall be treated as Nonqualified Stock Options according to the order in which they were granted such that the most recently granted
Incentive Stock Options are first treated as Nonqualified Stock Options. 

  
 8 

 (iv) shall be granted within ten years from the earlier of the date the Plan is
adopted by the Board or the date the Plan is approved by the stockholders of the Company; and 
 (v) shall require the
Grantee to notify the Committee of any disposition of any Stock issued pursuant to the exercise of the Incentive Stock Option under the circumstances described in Section 421(b) of the Internal Revenue Code (relating to certain disqualifying
dispositions), within ten days of such disposition. 
 (d) Grant of Shares of Restricted Stock. 

(i) The Committee may, in its discretion, grant shares of restricted Stock to any individual eligible under Article 5 to
receive Awards. 
 (ii) Before the grant of any shares of restricted Stock, the Committee shall determine, in its discretion:

 (A) whether the certificates for such shares shall be delivered to the Grantee or held (together with a stock power
executed in blank by the Grantee) in escrow by the Secretary of the Company until such shares become nonforfeitable or are forfeited; 

(B) the per share purchase price of such shares, which may be zero; provided, however, that the per share purchase
price of all such shares (other than treasury shares) shall not be less than the Minimum Consideration for each such share; 

(C) the restrictions applicable to such grant and the time or times upon which any applicable restrictions on the
restricted Stock shall lapse; provided, however, that except in the case of shares of restricted Stock issued in full or partial settlement of another Award or other earned compensation, or in the event of the Grantee’s Termination of
Employment, as determined by the Committee and set forth in an Award Agreement, such restrictions shall not lapse prior to the third anniversary of the Grant Date of the restricted Stock; and 

(D) whether the payment to the Grantee of dividends, or a specified portion thereof, declared or paid on such shares by
the Company shall be deferred until the lapsing of the restrictions imposed upon such shares and shall be held by the Company for the account of the Grantee, whether such dividends shall be reinvested in additional shares of restricted Stock (to the
extent shares are available under Article 3) subject to the same restrictions and other terms as apply to the shares with respect to which such dividends are issued or otherwise reinvested in Stock or held in escrow, whether interest will be
credited to the account of the Grantee with respect to any dividends which are not reinvested in restricted or unrestricted Stock, and whether any Stock dividends issued with respect to the restricted Stock to be granted shall be treated as
additional shares of restricted Stock. 
 (iii) Payment of the purchase price (if greater than zero) for shares of restricted
Stock shall be made in full by the Grantee before the delivery of such shares and, in any event, no later than ten days after the Grant Date for such shares. Such payment may be made, as determined by the Committee in its discretion, in any one or
any combination of the following: 
 (A) cash; or 

(B) with the prior approval of the Committee, shares of restricted or unrestricted Stock owned by the Grantee prior to
such grant and valued at its Fair Market Value on the business day immediately preceding the date of payment; 

  
 9 

 provided, however, that, in the case of payment in shares of restricted or unrestricted
Stock, if the purchase price for restricted Stock (“New Restricted Stock”) is paid with shares of restricted Stock (“Old Restricted Stock”), the restrictions applicable to the New Restricted Stock shall be the same as if the
Grantee had paid for the New Restricted Stock in cash unless, in the judgment of the Committee, the Old Restricted Stock was subject to a greater risk of forfeiture, in which case a number of shares of New Restricted Stock equal to the number of
shares of Old Restricted Stock tendered in payment for New Restricted Stock shall be subject to the same restrictions as the Old Restricted Stock, determined immediately before such payment. 

(iv) The Committee may, but need not, provide that all or any portion of a Grantee’s Award of restricted Stock shall be
forfeited: 
 (A) except as otherwise specified in the Award Agreement, upon the Grantee’s Termination of
Employment within a specified time period after the Grant Date; or 
 (B) if the Company or the Grantee does not
achieve specified performance goals within a specified time period after the Grant Date and before the Grantee’s Termination of Employment; or 

(C) upon failure to satisfy such other restrictions as the Committee may specify in the Award Agreement. 

(v) If a share of restricted Stock is forfeited, then: 

(A) the Grantee shall be deemed to have resold such share of restricted Stock to the Company at the lesser of
(1) the purchase price paid by the Grantee (such purchase price shall be deemed to be zero dollars ($0) if no purchase price was paid) or (2) the Fair Market Value of a share of Stock on the date of such forfeiture; 

(B) the Company shall pay to the Grantee the amount determined under clause (A) of this sentence, if not zero, as
soon as is administratively practicable, but in any case within 90 days after forfeiture; and 
 (C) such share of
restricted Stock shall cease to be outstanding, and shall no longer confer on the Grantee thereof any rights as a stockholder of the Company, from and after the date of the Company’s tender of the payment specified in clause (B) of this
sentence, whether or not such tender is accepted by the Grantee, or the date the restricted Stock is forfeited if no purchase price was paid for the restricted Stock. 

(vi) Any share of restricted Stock shall bear an appropriate legend specifying that such share is non-transferable and subject
to the restrictions set forth in the Plan and the Award Agreement. If any shares of restricted Stock become nonforfeitable, the Company shall cause certificates for such shares to be issued or reissued without such legend and delivered to the
Grantee or, at the request of the Grantee, shall cause such shares to be credited to a brokerage account specified by the Grantee. 

(e) Grant of Performance Units and Performance Shares. 

(i) The Committee may, in its discretion, grant performance units or performance shares to any employee eligible under
Article 5 to receive Awards. 
 (ii) Before the grant of any performance unit or performance share, the Committee shall:

 (A) designate a period, of not less than one year nor more than five years, for the measurement of the extent to
which performance goals are attained (the “Measuring Period”); 

  
 10 

 (B) determine performance goals applicable to such grant; provided,
however, that the performance goals with respect to a Measuring Period shall be established in writing by the Committee by the earlier of (x) the date on which a quarter of the Measuring Period has elapsed or (y) the date which is
ninety (90) days after the commencement of the Measuring Period, and in any event while the performance relating to the performance goals remain substantially uncertain; and 

(C) assign a “Performance Percentage” to each level of attainment of performance goals during the Measuring
Period, with the percentage applicable to minimum attainment being zero percent (0%) and the percentage applicable to optimum attainment to be determined by the Committee from time to time. 

(iii) The performance goals applicable to performance units or performance shares shall, in the discretion of the Committee, be
based on stock price, earnings per share, operating income, return on equity or assets, cash flow, EBITDA, revenues, overall revenue or sales growth, expense reduction or management, market position, total shareholder return, return on investment,
earnings before interest and taxes (EBIT), net income, return on net assets, economic value added, shareholder value added, cash flow return on investment, net operating profit, net operating profit after tax, return on capital, and return on
invested capital, or any combination of the foregoing. Such performance goals may be absolute or relative (to prior performance or to the performance of one or more other entities or external indices) and may be expressed in terms of a progression
within a specified range. At the time of the granting of performance units or performance shares, or at any time thereafter, in either case to the extent permitted under Section 162(m) of the Internal Revenue Code and the regulations thereunder
without adversely affecting the treatment of the performance unit or performance share as Performance-Based Compensation, the Committee may provide for the manner in which performance will be measured against the performance goals (or may adjust the
performance goals) to reflect the impact of specified corporate transactions, special charges, foreign currency effects, accounting or tax law changes and other extraordinary or nonrecurring events. 

(iv) Prior to the vesting, payment, settlement or lapsing of any restrictions with respect to any performance unit or
performance share that is intended to constitute Performance-Based Compensation made to a Grantee who is subject to Section 162(m) of the Internal Revenue Code, the Committee shall certify in writing that the applicable performance goals have
been satisfied. 
 (v) Unless otherwise expressly stated in the relevant Award Agreement, each performance unit and
performance share granted under the Plan is intended to be Performance-Based Compensation and the Committee shall interpret and administer the applicable provisions of the Plan in a manner consistent therewith. Any provisions inconsistent with such
treatment shall be inoperative and shall not adversely affect the treatment of performance units or performance shares granted hereunder as Performance-Based Compensation. The Committee shall not be entitled to exercise any discretion otherwise
authorized hereunder with respect to such performance unit or performance share if the ability to exercise such discretion or the exercise of such discretion itself would cause the compensation attributable to such performance unit or performance
share to fail to qualify as Performance-Based Compensation. 
 (f) Grant of Phantom Stock. The Committee may, in its
discretion, grant shares of phantom stock to any employee who is eligible under Article 5 to receive Awards. Such phantom stock shall be subject to the terms and conditions established by the Committee and set forth in the applicable Award
Agreement. 

  
 11 

 (g) Grant of Director’s Shares. There shall be granted
Director’s Shares with respect to 1,000 shares of Stock to each nonemployee director of the Company upon his or her initial election to the Board. Director’s Shares shall be fully vested and transferable upon issuance. 

(h) Tandem Awards. The Committee may grant and identify any Award with any other Award granted under the Plan
(“Tandem Award”), other than a Substitute Option or a Spin-off Option, on terms and conditions determined by the Committee. 
 7.
Non-transferability. 
 Unless set forth in the applicable Award Agreement with respect to Awards other than Incentive Stock Options,
no Award (other than an Award of restricted Stock) granted hereunder shall by its terms be assignable or transferable except by will or the laws of descent and distribution or, in the case of an Option other than an Incentive Stock Option, pursuant
to a domestic relations order (within the meaning of Rule 16a-12 promulgated under the Exchange Act). An Option may be exercised during the lifetime of a Grantee only by the Grantee or his or her guardian or legal representatives or, except as
would cause an Incentive Stock Option to lose its status as such, by a bankruptcy trustee. Notwithstanding the foregoing, the Committee may set forth in the Award Agreement evidencing an Award (other than an Incentive Stock Option) at the time of
grant or thereafter, that the Award may be transferred to members of the Grantee’s immediate family, to trusts solely for the benefit of such immediate family members and to partnerships in which such family members and/or trusts are the only
partners, and for purposes of this Plan, a transferee of an Award shall be deemed to be the Grantee. For this purpose, immediate family means the Grantee’s spouse, parents, children, stepchildren and grandchildren and the spouses of such
parents, children, stepchildren and grandchildren. The terms of an Award shall be final, binding and conclusive upon the beneficiaries, executors, administrators, heirs and successors of the Grantee. Each share of restricted Stock shall be
non-transferable until such share becomes nonforfeitable. 
 8. Exercise. 

(a) Exercise of Options. Subject to Articles 4(c)(viii), 12 and 13 and such terms and conditions as the Committee
may impose, each Option shall be exercisable in one or more installments commencing not earlier than the first anniversary of the Grant Date of such Option; provided, however, that all Options held by each Grantee shall become fully
(100%) vested and exercisable upon the occurrence of a Change of Control regardless of whether the acceleration of the exercisability of such Options would cause such Options to lose their eligibility for treatment as Incentive Stock Options.
Notwithstanding the foregoing, Options may not be exercised by a Grantee for such period of time following a hardship distribution to the Grantee, to the extent such exercise is prohibited under the applicable provisions of the Internal Revenue Code
and any authority thereunder. Each Option shall be exercised by delivery to the Company of written notice of intent to purchase a specific number of shares of Stock subject to the Option. The Option Price of any shares of Stock as to which an Option
shall be exercised shall be paid in full at the time of the exercise. Payment may be made, as determined by the Committee in its discretion with respect to Options granted to eligible employees and in all cases with respect to Options granted to
nonemployee directors pursuant to Article 6(b)(ii), in any one or any combination of the following: 
 (i) cash,

 (ii) shares of unrestricted Stock held by the Grantee for at least six months (or such lesser period as may be
permitted by the Committee) prior to the exercise of the Option, and valued at its Fair Market Value on the last business day immediately preceding the date of exercise, or 

  
 12 

 (iii) through simultaneous sale through a broker of shares of unrestricted
Stock acquired on exercise, as permitted under Regulation T of the Federal Reserve Board. 
 Shares of unrestricted Stock acquired by a
Grantee on exercise of an Option shall be delivered to the Grantee or, at the request of the Grantee, shall be credited directly to a brokerage account specified by the Grantee. 

(b) Exercise of Performance Units. (i) Subject to Articles 4(c)(viii), 12 and 13 and such terms and conditions as
the Committee may impose, and unless otherwise provided in the applicable Award Agreement, if, with respect to any performance unit, the Committee has determined in accordance with Article 6(f)(iv) that the minimum performance goals have
been achieved during the applicable Measuring Period, then such performance unit shall be deemed exercised on the date on which it first becomes exercisable. 

(ii) The benefit for each performance unit exercised shall be an amount equal to the product of 

(A) the Unit Value (as defined below), multiplied by 

(B) the Performance Percentage attained during the Measuring Period for such performance unit. 

(iii) The Unit Value shall be, as specified by the Committee, 

(A) a dollar amount, 

(B) an amount equal to the Fair Market Value of a share of Stock on the Grant Date, 

(C) an amount equal to the Fair Market Value of a share of Stock on the exercise date of the performance unit, plus, if
so provided in the Award Agreement, an amount (“Dividend Equivalent Amount”) equal to the Fair Market Value of the number of shares of Stock that would have been purchased if each dividend paid on a share of Stock on or after the Grant
Date and on or before the exercise date were invested in shares of Stock at a purchase price equal to its Fair Market Value on the respective dividend payment date, or 

(D) an amount equal to the Fair Market Value of a share of Stock on the exercise date of the performance unit (plus, if
so specified in the Award Agreement, a Dividend Equivalent Amount), reduced by the Fair Market Value of a share of Stock on the Grant Date of the performance unit. 

(iv) The benefit upon the exercise of a performance unit shall be payable as soon as is administratively practicable (but
in any event within 90 days) after the later of (A) the date the Grantee is deemed to exercise such performance unit, or (B) the date (or dates in the event of installment payments) as provided in the applicable Award Agreement. Such
benefit shall be payable in cash, except that the Committee, with respect to any particular exercise, may, in its discretion, pay benefits wholly or partly in Stock delivered to the Grantee or credited to a brokerage account specified by the
Grantee. The number of shares of Stock payable in lieu of cash shall be determined by valuing the Stock at its Fair Market Value on the business day next preceding the date such benefit is to be paid. 

(c) Payment of Performance Shares. Subject to Articles 4(c)(vii), 12 and 13 and such terms and conditions as the
Committee may impose, and unless otherwise provided in the applicable Award Agreement, if the Committee has determined in accordance with Article 6(f)(iv) that the minimum performance goals with respect to an Award of performance shares
have been achieved during the applicable Measuring Period, then the Company shall pay to the Grantee of such 

  
 13 

 
Award (or, at the request of the Grantee, deliver to a brokerage account specified by the Grantee) shares of Stock equal in number to the product of the number of performance shares specified in
the applicable Award Agreement multiplied by the Performance Percentage achieved during such Measuring Period, except to the extent that the Committee in its discretion determines that cash be paid in lieu of some or all of such shares of Stock. The
amount of cash payable in lieu of a share of Stock shall be determined by valuing such share at its Fair Market Value on the business day next preceding the date such cash is to be paid. Payments pursuant to this Article 8(d) shall be made as
soon as administratively practicable (but in any event within 90 days) after the end of the applicable Measuring Period. Any performance shares with respect to which the performance goals have not been achieved by the end of the applicable
Measuring Period shall expire. 
 (d) Payment of Phantom Stock Awards. Upon the vesting of a phantom stock Award,
the Grantee shall be entitled to receive a cash payment in respect of each share of phantom stock which shall be equal to the Fair Market Value of a share of Stock as of the date the phantom stock Award was granted, or such other date as determined
by the Committee at the time the phantom stock Award was granted. The Committee may, at the time a phantom stock Award is granted, provide a limitation on the amount payable in respect of each share of phantom stock. In lieu of a cash payment, the
Committee may settle phantom stock Awards with shares of Stock having a Fair Market Value equal to the cash payment to which the Grantee has become entitled. 

(e) Exercise, Cancellation, Expiration or Forfeiture of Tandem Awards. Upon the exercise, cancellation, expiration,
forfeiture or payment in respect of any Award which is identified with any Tandem Award pursuant to Article 6(i), the Tandem Award shall automatically terminate to the extent of the number of shares in respect of which the Award is so
exercised, cancelled, expired, forfeited or paid, unless otherwise provided by the Committee at the time of grant of the Tandem Award or thereafter. 

9. Spin-off and Substitute Options. 

Spin-off Options and Substitute Options shall be issued under this Plan pursuant to and in accordance with the terms of the Benefits
Agreement. Spin-off Options and Substitute Options shall be governed by the terms of the Plan to the extent that the terms of the Plan do not conflict with the terms of the agreements evidencing the Spin-off Options and Substitute Options. 

10. Effect of Certain Transactions. 

With respect to any Award which relates to Stock, in the event of (i) the liquidation or dissolution of the Company or (ii) a merger
or consolidation of the Company (a “Transaction”), the Plan and the Awards issued hereunder shall continue in effect in accordance with their respective terms, except that following a Transaction either (i) each outstanding Award
shall be treated as provided for in the agreement entered into in connection with the Transaction (the “Transaction Agreement”) or (ii) if not so provided in the Transaction Agreement, each Grantee shall be entitled to receive in
respect of each share of Stock subject to any outstanding Awards, upon the vesting, payment or exercise of the Award (as the case may be), the same number and kind of stock, securities, cash, property, or other consideration that each holder of a
share of Stock was entitled to receive in the Transaction in respect of a share of Stock. 
 11. Mandatory Withholding Taxes. 

The Company shall have the right to deduct from any distribution of cash to any Grantee an amount equal to the federal, state and local income
taxes and other amounts as may be required by law to be withheld (the “Withholding Taxes”) with respect to any Award. If a Grantee is to experience a taxable event in connection with (i) the receipt of an Award, (ii) the receipt
of shares pursuant to an 

  
 14 

 
Option exercise, (iii) the vesting or payment of another type of Award or (iv) any other event in connection with the Plan (a “Taxable Event”), the Grantee shall pay the
Withholding Taxes to the Company prior to the issuance, or release from escrow, of such Award or shares or vesting or payment of such Award or occurrence of such event, as applicable. Payment of the applicable Withholding Taxes may be made, as
determined by the Committee in its discretion, in any one or any combination of (i) cash, (ii) shares of restricted or unrestricted Stock owned by the Grantee prior to the Taxable Event and valued at its Fair Market Value on the business
day immediately preceding the date of exercise, or (iii) by making a Tax Election (as described below). For purposes of this Article 11, the Committee may provide in the Award Agreement at the time of grant, or at any time thereafter, that
the Grantee, in satisfaction of the obligation to pay Withholding Taxes to the Company, may elect to have withheld a portion of the shares then issuable to him or her having an aggregate Fair Market Value equal to the Withholding Taxes. 

12. Termination of Employment. 

The Award Agreement pertaining to each Award shall set forth the terms and conditions applicable to such Award upon a Termination of
Employment of the Grantee by the Company, a Subsidiary or an operating division or unit, which, except for Options granted to nonemployee directors pursuant to Article 6(b)(ii)(A), shall be as the Committee may, in its discretion, determine at
the time the Award is granted or thereafter. 
 13. Securities Law Matters. 

(a) If the Committee deems it necessary to comply with the Securities Act of 1933, the Committee may require a written
investment intent representation by the Grantee and may require that a restrictive legend be affixed to certificates for shares of Stock. 

(b) If, based upon the opinion of counsel for the Company, the Committee determines that the exercise or nonforfeitability
of, or delivery of benefits pursuant to, any Award would violate any applicable provision of (i) federal or state securities law, (ii) the listing requirements of any national securities exchange on which are listed any of the
Company’s equity securities or (iii) any other law or regulation, then the Committee may postpone any such exercise, nonforfeitability or delivery, as the case may be, but the Company shall use its best efforts, if applicable, to cause
such exercise, nonforfeitability or delivery to comply with all such provisions at the earliest practicable date. 

(c) Notwithstanding any provision of the Plan or any Award Agreement to the contrary, no shares of Stock shall be issued
to any Grantee in respect of any Award prior to the time a registration statement under the Securities Act of 1933 is effective with respect to such shares. 

14. No Funding Required. 

Benefits payable under the Plan to any person shall be paid directly by the Company. The Company shall not be required to fund, or otherwise
segregate assets to be used for payment of, benefits under the Plan. 
 15. No Employment Rights. 

Neither the establishment of the Plan, nor the granting of any Award shall be construed to (a) give any Grantee the right to remain
employed by the Company or any of its Subsidiaries or to any benefits not specifically provided by the Plan or (b) in any manner modify the right of the Company or any of its Subsidiaries to modify, amend, or terminate any of its employee
benefit plans. 

  
 15 

 16. Rights as a Stockholder. 

A Grantee shall not, by reason of any Award (other than restricted Stock), have any right as a stockholder of the Company with respect to the
shares of Stock which may be deliverable upon exercise or payment of such Award until such shares have been delivered to him. Shares of restricted Stock held by a Grantee or held in escrow by the Secretary of the Company shall confer on the Grantee
all rights of a stockholder of the Company, except as otherwise provided in the Plan. 
 17. Nature of Payments. 

Any and all grants, payments of cash, or deliveries of shares of Stock hereunder shall constitute special incentive payments to the Grantee
and shall not be taken into account in computing the amount of salary or compensation of the Grantee for the purposes of determining any pension, retirement, death or other benefits under (a) any pension, retirement, profit-sharing, bonus, life
insurance or other employee benefit plan of the Company or any of its Subsidiaries or (b) any agreement between the Company or any Subsidiary, on the one hand, and the Grantee, on the other hand, except as such plan or agreement shall otherwise
expressly provide. 
 18. Non-Uniform Determinations. 

Neither the Committee’s nor the Board’s determinations under the Plan need be uniform and may be made by the Committee or the Board
selectively among persons who receive, or are eligible to receive, Awards (whether or not such persons are similarly situated). Without limiting the generality of the foregoing, the Committee shall be entitled, among other things, to make
non-uniform and selective determinations, to enter into non-uniform and selective Award Agreements as to (a) the identity of the Grantees, (b) the terms and provisions of Awards, and (c) the treatment of Terminations of Employment.

 19. Adjustments. 

In the event of Change in Capitalization, the Committee shall, in its sole discretion, make equitable adjustment of 

 

	 	(a)	the aggregate number and class of shares of Stock or other stock or securities available under Article 3, 

  

	 	(b)	the number and class of shares of Stock or other stock or securities covered by an Award and to be covered by Options granted to nonemployee directors pursuant to Article 6(b)(ii), 

 

	 	(c)	the Option Price applicable to outstanding Options, 

  

	 	(d)	the terms of performance unit and performance share grants (to the extent permitted under Section 162(m)) of the Internal Revenue Code and the regulations thereunder without adversely affecting the treatment of the
performance unit or performance share as Performance-Based Compensation, 

  

	 	(e)	the Fair Market Value of Stock to be used to determine the amount of the benefit payable upon exercise of performance units, performance shares or phantom stock, 

 

	 	(f)	the maximum number and class of shares of Stock or other securities with respect to which Awards may be granted to any individual in any three calendar year period, and 

 

	 	(g)	the number and class of shares of Stock or other securities with respect to which Director Shares are to be granted under Article 6(h). 

  
 16 

 20. Amendment of the Plan. 

The Board may from time to time in its discretion amend or modify the Plan without the approval of the stockholders of the Company, except as
such stockholder approval may be required (a) to retain Incentive Stock Option treatment under Section 422 of the Internal Revenue Code, (b) to permit transactions in Stock pursuant to the Plan to be exempt from potential liability
under Section 16(b) of the 1934 Act or (c) under the listing requirements of any securities exchange on which any of the Company’s equity securities are listed. 

21. Termination of the Plan. 

The Plan shall terminate on the tenth (10th) anniversary of the Effective Date or at such earlier time as the Board may determine. Any
termination, whether in whole or in part, shall not affect any Award then outstanding under the Plan. 
 22. No Illegal Transactions.

 The Plan and all Awards granted pursuant to it are subject to all laws and regulations of any governmental authority which may be
applicable thereto; and notwithstanding any provision of the Plan or any Award, Grantees shall not be entitled to exercise Awards or receive the benefits thereof and the Company shall not be obligated to deliver any Stock or pay any benefits to a
Grantee if such exercise, delivery, receipt or payment of benefits would constitute a violation by the Grantee or the Company of any provision of any such law or regulation or applicable court order. 

23. Governing Law. 

Except where preempted by federal law, the law of the State of Delaware shall be controlling in all matters relating to the Plan, without
giving effect to the conflicts of law principles thereof. 
 24. Severability. 

If all or any part of the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity
shall not serve to invalidate any portion of the Plan not declared to be unlawful or invalid. Any Article or part of an Article so declared to be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of
such Article or part of an Article to the fullest extent possible while remaining lawful and valid. 
 25. Translations. 

Any inconsistency between the terms of the Plan or any Award Agreement and the corresponding translation thereof into a language other than
English shall be resolved by reference, solely, to the English language document. 

  
 17EX-10.25

 Exhibit 10.25 

COMMSCOPE, INC. 
 2006
LONG TERM INCENTIVE PLAN 
 (Effective May 5, 2006; as amended through February 28, 2007) 

1. Purpose. 
 The
purpose of the Plan is to strengthen CommScope, Inc., a Delaware corporation (the “Company”), by providing an incentive to its and its Subsidiaries’ (as defined herein) employees, officers, consultants and directors, thereby
encouraging them to devote their abilities and industry to the success of the Company’s business enterprise. It is intended that this purpose be achieved by extending to employees (including future employees who have received a formal written
offer of employment), officers, consultants and directors of the Company and its Subsidiaries an added incentive for high levels of performance and unusual efforts through the grant of Restricted Stock, Restricted Stock Units, Options, Stock
Appreciation Rights, Dividend Equivalent Rights, Performance Awards, and Share Awards (as each term is herein defined). 
 2.
Definitions. 
 For purposes of the Plan: 

2.1 “Agreement” means a written or electronic agreement between the Company and a Participant evidencing the grant of an Option or
Award and setting forth the terms and conditions thereof. 
 2.2 “Award” means a grant of Restricted Stock, a Restricted Stock
Unit, a Stock Appreciation Right, a Performance Award, a Dividend Equivalent Right, a Share Award or any or all of them. 
 2.3
“Beneficiary” means an individual designated as a Beneficiary pursuant to Section 20.4. 
 2.4 “Board” means the
Board of Directors of the Company. 

 2.5 “Change in Capitalization” means any increase or reduction in the number of Shares,
any change (including, but not limited to, in the case of a spin-off, dividend or other distribution in respect of Shares, a change in value) in the Shares or any exchange of Shares for a different number or kind of shares or other securities of the
Company or another corporation, by reason of a reclassification, recapitalization, merger, consolidation, reorganization, spin-off, split-up, issuance of warrants, rights or debentures, stock dividend, stock split or reverse stock split, cash
dividend, property dividend, combination or exchange of shares, repurchase of shares, change in corporate structure or otherwise. 
 2.6
“Change in Control” means the occurrence of any of the following: 
 (a) An acquisition (other than directly from the Company) of
any voting securities of the Company (the “Voting Securities”) by any “Person” (as the term “person” is used for purposes of Section 13(d) or 14(d) of the Exchange Act), immediately after which such Person has
“Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than thirty-three percent (33%) of (i) the then-outstanding Shares or (ii) the combined voting power of the Company’s
then-outstanding Voting Securities; provided, however, that in determining whether a Change in Control has occurred pursuant to this paragraph (a), the acquisition of Shares or Voting Securities in a Non-Control Acquisition (as hereinafter
defined) shall not constitute a Change in Control. A “Non-Control Acquisition” shall mean an acquisition by (i) an employee benefit plan (or a trust forming a part thereof) maintained by (A) the Company or (B) any
corporation or other Person the majority of the voting power, voting equity securities or equity interest of which is owned, directly or indirectly, by the Company (for purposes of this definition, a “Related Entity”), (ii) the
Company or any Related Entity, or (iii) any Person in connection with a Non-Control Transaction (as hereinafter defined); 
 (b) The
individuals who, as of the effective date of the Plan, are members of the Board (the “Incumbent Board”), cease for any reason to constitute at least two-thirds of the members of the Board or, following a Merger (as hereinafter defined),
the board of directors of (i) the corporation resulting from such Merger (the “Surviving Corporation”), if fifty percent (50%) or more of the combined voting power of the then-outstanding voting securities of the Surviving
Corporation is not Beneficially Owned, directly or indirectly, by another Person (a “Parent Corporation”) or (ii) if there is one or more than one Parent Corporation, the ultimate Parent Corporation; provided, however , that,
if the election, or nomination for election by the Company’s common shareholders, of any new director was approved by a vote of at least two-thirds of the Incumbent Board, such new director shall, for purposes of the Plan, be considered a
member of the Incumbent Board; and provided, further, however , that no individual shall be considered a member of the Incumbent Board if such individual initially assumed office as a result of an actual or threatened solicitation of proxies
or consents by or on behalf of a Person other than the Board (a “Proxy Contest”), including by reason of any agreement intended to avoid or settle any Proxy Contest; or 

 (c) The consummation of: 

(i) A merger, consolidation or reorganization (x) with or into the Company or (y) in which securities of the Company are issued (a
“Merger”), unless such Merger is a “Non-Control Transaction.” A “Non-Control Transaction” shall mean a Merger in which: 

(A) the shareholders of the Company immediately before such Merger own directly or indirectly immediately following such Merger at least a
majority of the combined voting power of the outstanding voting securities of (1) the Surviving Corporation, if there is no Parent Corporation or (2) if there is one or more than one Parent Corporation, the ultimate Parent Corporation;

 (B) the individuals who were members of the Incumbent Board immediately prior to the execution of the agreement providing for such
Merger constitute at least a majority of the members of the board of directors of (1) the Surviving Corporation, if there is no Parent Corporation, or (2) if there is one or more than one Parent Corporation, the ultimate Parent
Corporation; and 
 (C) no Person other than (1) the Company or another corporation that is a party to the agreement of Merger,
(2) any Related Entity, or (3) any employee benefit plan (or any trust forming a part thereof) that, immediately prior to the Merger, was maintained by the Company or any Related Entity, or (4) any Person who, immediately prior to the
Merger had Beneficial Ownership of thirty-three percent (33%) or more of the then outstanding Shares or Voting Securities, has Beneficial Ownership, directly or indirectly, of thirty-three percent (33%) or more of the combined voting power
of the outstanding voting securities or common stock of (x) the Surviving Corporation, if there is no Parent Corporation, or (y) if there is one or more than one Parent Corporation, the ultimate Parent Corporation. 

(ii) A complete liquidation or dissolution of the Company; or 

(iii) The sale or other disposition of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any
Person (other than (x) a transfer to a Related Entity or (y) the distribution to the Company’s shareholders of the stock of a Related Entity or any other assets). 

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any Person (the “Subject Person”)
acquired Beneficial Ownership of more than the permitted amount of the then outstanding Shares or Voting Securities as a result of the acquisition of Shares or Voting Securities by the Company which, by reducing the number of

 
Shares or Voting Securities then outstanding, increases the proportional number of shares Beneficially Owned by the Subject Persons; provided that if a Change in Control would occur (but
for the operation of this sentence) as a result of the acquisition of Shares or Voting Securities by the Company and, after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional Shares or Voting
Securities and such Beneficial Ownership increases the percentage of the then outstanding Shares or Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur. 

2.7 “Chief Executive Officer” means the Chief Executive Officer of the Company. 

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

2.9 “Committee” means the Committee which administers the Plan as provided in Section 3. 

2.10 “Company” means CommScope, Inc., a Delaware corporation. 

2.11 “Director” means a member of the Board. 

2.12 “Disability” means a mental or physical condition which, in the opinion of the Committee, renders a Participant unable or
incompetent to carry out the job responsibilities which such Participant held or the duties to which such Participant was assigned at the time the disability was incurred, and which is expected to be permanent or for an indefinite duration. 

2.13 “ Division” means any of the operating units or divisions of the Company designated as a Division by the Committee. 

2.14 “Dividend Equivalent Right” means a right to receive cash or Shares based on the value of dividends that are paid with respect
to Shares. 
 2.15 “Effective Date” means the date of approval of the Plan by the Company’s shareholders’ pursuant to
Section 20.5. 
 2.16 “Eligible Individual” means any of the following individuals: (a) any Director, officer or
employee of the Company or a Subsidiary, (b) any individual to whom the Company or a Subsidiary has extended a formal, written offer of employment, and (c) any consultant or advisor of the Company or a Subsidiary. 

 2.17 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

2.18 “Fair Market Value” on any date means: 

(a) if the Shares are listed for trading on the New York Stock Exchange, the closing price at the close of the primary trading session of the
Shares on such date on the New York Stock Exchange, or if there has been no such closing price of the Shares on such date, on the next preceding date on which there was such a closing price; 

(b) if the Shares are not listed for trading on the New York Stock Exchange, but are listed on another national securities exchange, the
closing price at the close of the primary trading session of the Shares on such date on such exchange, or if there has been no such closing price of the Shares on such date, on the next preceding date on which there was such a closing price; 

(c) if the Shares are not listed on the New York Stock Exchange or on another national securities exchange, the last sale price at the
end of normal market hours of the Shares on such date as quoted on the National Association of Securities Dealers Automated Quotation System (“NASDAQ”) or, if no such price shall have been quoted for such date, on the next preceding date
for which such price was so quoted; or 
 (d) if the Shares are not listed for trading on a national securities exchange or are not
authorized for quotation on NASDAQ, the fair market value of the Shares as determined in good faith by the Committee, and in the case of Incentive Stock Options, in accordance with Section 422 of the Code. 

2.19 “Full Value Award” means a grant of Restricted Stock, a Restricted Stock Unit, a Performance Award, a Share Award or any or all
of them. 
 2.20 “Incentive Stock Option” means an Option satisfying the requirements of Section 422 of the Code and
designated by the Committee as an Incentive Stock Option. 
 2.21 “Nonemployee Director” means a Director who is a
“nonemployee director” within the meaning of Rule 16b-3 promulgated under the Exchange Act. 
 2.22 “Nonqualified Stock
Option” means an Option which is not an 

 
Incentive Stock Option. 
 2.23 “Option” means a Nonqualified Stock Option
and/or an Incentive Stock Option. 
 2.24 “Outside Director” means a Director who is an “outside director” within the
meaning of Section 162(m) of the Code and the regulations promulgated thereunder. 
 2.25 “Parent” means any corporation
which is a “parent corporation” (within the meaning of Section 424(e) of the Code) with respect to the Company. 
 2.26
“Participant” means a person to whom an Award or Option has been granted under the Plan. 
 2.27 “Performance Awards”
means Performance Share Units, Performance Units, Performance-Based Restricted Stock or any or all of them. 
 2.28 “Performance-Based
Compensation” means any Option or Award that is intended to constitute “performance based compensation” within the meaning of Section 162(m)(4)(C) of the Code and the regulations promulgated thereunder. 

2.29 “Performance-Based Restricted Stock” means Shares issued or transferred to an Eligible Individual under Section 9.2. 

2.30 “Performance Cycle” means the time period specified by the Committee at the time Performance Awards are granted during which
the performance of the Company, a Subsidiary or a Division will be measured. 
 2.31 “Performance Objectives” means the objectives
set forth in Section 9.3 for the purpose of determining the degree of payout and/or vesting of Performance Awards. 

 2.32 “Performance Share Units” means Performance Share Units granted to an Eligible
Individual under Section 9.1. 
 2.33 “Performance Units” means Performance Units granted to an Eligible Individual under
Section 9.1. 
 2.34 “Plan” means the CommScope, Inc. Long-Term Incentive Plan, as amended from time to time. 

2.35 “Prior Plan” means the Amended and Restated CommScope, Inc. 1997 Long-Term Incentive Plan (as amended and restated effective
May 7, 2004). 
 2.36 “Restricted Stock” means Shares issued or transferred to an Eligible Individual pursuant to
Section 8. 
 2.37 “Restricted Stock Units” means rights granted to an Eligible Individual under Section 8 representing
a number of hypothetical Shares. 
 2.38 “Share Award” means an Award of Shares granted pursuant to Section 10. 

2.39 “Shares” means the common stock, par value $.01 per share, of the Company and any other securities into which such shares are
changed or for which such shares are exchanged. 
 2.40 “Stock Appreciation Right” means a right to receive all or some portion of
the increase, if any, in the value of the Shares as provided in Section 6 hereof. 

 2.41 “Subsidiary” means (a) except as provided in subsection (b) below, any
corporation which is a subsidiary corporation within the meaning of Section 424(f) of the Code with respect to the Company, and (b) in relation to the eligibility to receive Options or Awards other than Incentive Stock Options and
continued employment for purposes of Options and Awards (unless the Committee determines otherwise), any entity, whether or not incorporated, in which the Company directly or indirectly owns at least 50% or more of the outstanding equity or other
ownership interests. 
 2.42 “Ten-Percent Shareholder” means an Eligible Individual who, at the time an Incentive Stock Option is
to be granted to him or her, owns (within the meaning of Section 422(b)(6) of the Code) stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company, a Parent or a Subsidiary. 

2.43 “Termination Date” means the date that is ten (10) years after the Effective Date, unless the Plan is earlier terminated
by the Board pursuant to Section 16 hereof. 
 3. Administration. 

3.1 Committees; Procedure. The Plan shall be administered by a Committee which, until the Board appoints a different Committee,
shall be the Compensation Committee of the Board. The Committee may adopt such rules, regulations and guidelines as it deems are necessary or appropriate for the administration of the Plan. The Committee shall consist of at least two
(2) Directors, each of whom shall be a Nonemployee Director and an Outside Director. For purposes of the preceding sentence, if one or more members of the Committee is not a Nonemployee Director and an Outside Director but recuses himself or
herself or abstains from voting with respect to a particular action taken by the Committee, then the Committee, with respect to that action, shall be deemed to consist only of the members of the Committee who have not recused themselves or abstained
from voting. 
 3.2 Board Reservation and Delegation. Except to the extent necessary for any Award or Option intended to qualify
as Performance-Based Compensation to so qualify, the Board may, in its discretion, reserve to itself or exercise any or all of the authority and responsibility of the Committee hereunder and may also delegate to another committee of the Board any or
all of the authority and responsibility of the Committee with respect to Awards or Options to Eligible Individuals who are not subject to Section 16(b) of the Exchange Act at the time any such delegated authority or responsibility is exercised.
Such other committee may consist of one or more Directors who may, but need not be officers or employees of the Company or any of its Subsidiaries. To the extent the Board has reserved to itself, or exercised the authority and responsibility of the
Committee, or delegated the authority and responsibility 

 
of the Committee to such other committee, all references to the Committee in the Plan shall be to the Board or to such other committee. 

3.3 Committee Powers. Subject to the express terms and conditions set forth herein, the Committee shall have the power from time
to time to: 
 (a) select those Eligible Individuals to whom Options shall be granted under the Plan and the number of such Options to be
granted and prescribe the terms and conditions (which need not be identical) of each such Option, including the exercise price per Share, the vesting schedule and the duration of each Option, and make any amendment or modification to any Option
Agreement consistent with the terms of the Plan; 
 (b) select those Eligible Individuals to whom Awards shall be granted under the Plan
and determine the number of Shares or amount of cash in respect of which each Award is granted, the terms and conditions (which need not be identical) of each such Award, and make any amendment or modification to any Agreement consistent with the
terms of the Plan; 
 (c) construe and interpret the Plan and the Options and Awards granted hereunder and establish, amend and revoke
rules and regulations for the administration of the Plan, including, but not limited to, correcting any defect or supplying any omission, or reconciling any inconsistency in the Plan or in any Agreement, in the manner and to the extent it
shall deem necessary or advisable, including so that the Plan and the operation of the Plan comply with Rule 16b-3 under the Exchange Act, the Code to the extent applicable and other applicable law, and otherwise to make the Plan fully
effective; 
 (d) determine the duration and purposes for leaves of absence which may be granted to a Participant on an individual basis
without constituting a termination of employment or service for purposes of the Plan; 
 (e) cancel, with the consent of the
Participant, outstanding Awards and Options; 
 (f) exercise its discretion with respect to the powers and rights granted to it as set
forth in the Plan; and 
 (g) generally, exercise such powers and perform such acts as are deemed necessary or advisable to promote the
best interests of the Company with respect to the Plan. 
 All decisions and determinations by the Committee in the exercise of the above
powers shall be final, binding and conclusive upon the Company, its Subsidiaries, the 

 
Participants and all other persons having any interest therein. 
 3.4 Notwithstanding
anything herein to the contrary, with respect to Participants working outside the United States, the Committee may determine the terms and conditions of Options and Awards and make such adjustments to the terms thereof as are necessary or advisable
to fulfill the purposes of the Plan taking into account matters of local law or practice, including tax and securities laws of jurisdictions outside the United States. 

3.5 Indemnification. No member of the Committee shall be liable for any action, failure to act, determination or interpretation made in
good faith with respect to the Plan or any transaction hereunder. The Company hereby agrees to indemnify each member of the Committee for all costs and expenses and, to the extent permitted by applicable law, any liability incurred in connection
with defending against, responding to, negotiating for the settlement of or otherwise dealing with any claim, cause of action or dispute of any kind arising in connection with any actions in administering the Plan or in authorizing or denying
authorization to any transaction hereunder. 
 3.6 No Repricing of Options or Stock Appreciation Rights. The Committee shall have no
authority to make any adjustment (other than in connection with a stock dividend, recapitalization or other transaction where an adjustment is permitted or required under the terms of the Plan) or amendment, and no such adjustment or amendment shall
be made, that reduces or would have the effect of reducing the exercise price of an Option or Stock Appreciation Right previously granted under the Plan, whether through amendment, cancellation or replacement grants, or other means, unless the
Company’s shareholders shall have approved such adjustment or amendment. 
 4. Stock Subject to the Plan; Grant
Limitations. 
 4.1 Aggregate Number of Shares Authorized for Issuance. Subject to any adjustment as provided in the Plan,
the Shares to be issued under the Plan may be, in whole or in part, authorized but unissued Shares or issued Shares which shall have been reacquired by the Company and held by it as treasury shares. The aggregate number of Shares that may be made
the subject of Awards or Options granted under the Plan shall not exceed two million three hundred thousand (2,300,000), (i) no more than 50% of which may be granted as Incentive Stock Options, and (ii) no more than one million five
hundred thousand (1,500,000) of which may be granted as Full Value Awards. 
 4.2 Individual Limit. The aggregate number of
Shares that may be the subject of Options, Stock Appreciation Rights, Performance-Based Restricted Stock and Performance Share Units granted to an Eligible Individual in any three calendar year period may not exceed 750,000. The maximum dollar
amount of cash or the Fair Market Value of Shares that any individual may receive in any calendar year in respect of Performance Units 

 
may not exceed $2,000,000. 
 4.3 Calculating Shares Available. 

(a) Upon the granting of an Award or an Option, the number of Shares available under this Section 4 for the granting of further Awards
and Options shall be reduced as follows: 
 (i) In connection with the granting of an Option, Stock Appreciation Right (other than a Stock
Appreciation Right Related to an Option), Restricted Stock Unit, Share Award or Award of Restricted Stock, Performance-Based Restricted Stock or Performance Share Units, the number of Shares available under this Section 4 for the granting of
further Options and Awards shall be reduced by the number of Shares in respect of which the Option or Award is granted or denominated. 

(ii) In connection with the granting of a Performance Unit, the number of Shares available under this Section 4 for the granting of
further Options and Awards initially shall be reduced by the Shares Equivalent number of Performance Units granted, with a corresponding adjustment if the Performance Unit is ultimately settled in whole or in part with a different number of Shares.
For purposes of this Section 4, the Share Equivalent number of Performance Units shall be equal to the quotient of (i) the aggregate dollar amount in which the Performance Units are denominated, divided by (ii) the Fair Market Value
of a Share on the date of grant. 
 (iii) In connection with the granting of a Dividend Equivalent Right, the number of Shares available
under this Section 4 shall not be reduced; provided, however , that if Shares are issued in settlement of a Dividend Equivalent Right, the number of Shares available for the granting of further Options and Awards under this
Section 4 shall be reduced by the number of Shares so issued. 
 (b) Notwithstanding Section 4.3(a), in the event that an Award
is granted that, pursuant to the terms of the Agreement, cannot be settled in Shares, the aggregate number of Shares that may be made the subject of Awards or Options granted under the Plan shall not be reduced. Whenever any outstanding Option or
Award or portion thereof expires, is canceled, is settled in cash or is otherwise terminated for any reason without having been exercised or payment having been made in respect of the entire Option or Award, the number of Shares available under this
Section 4 shall be increased by the number of Shares previously allocable under Section 4.3(a) to the expired, canceled, settled or otherwise terminated portion of the Option or Award. 

(c) Notwithstanding anything in this Section 4.3 to the contrary, (i) Shares tendered as full or partial payment of the Option
Price shall not increase the number of 

 
Shares available under this Section 4, (ii) Shares tendered as settlement of tax withholding obligations shall not increase the number of Shares available under this Section 4, and
(iii) Shares repurchased by the Company using proceeds from the exercise of Options shall not be available for issuance under the Plan. 

(d) Where two or more Awards are granted with respect to the same Shares, such Shares shall be taken into account only once for purposes of
this Section 4.3. 
 5. Stock Options. 

5.1 Authority of Committee. Subject to the provisions of the Plan, the Committee shall have full and final authority to
select those Eligible Individuals who will receive Options, and the terms and conditions of the grant to any such Eligible Individual shall be set forth in an Agreement. Incentive Stock Options may be granted only to Eligible Individuals who are
employees of the Company or any Subsidiary on the date the Incentive Stock Option is granted. 
 5.2 Exercise Price. The
purchase price or the manner in which the exercise price is to be determined for Shares under each Option shall be determined by the Committee and set forth in the Agreement; provided, however , that the exercise price per Share under each
Option shall not be less than the greater of (i) the par value of a Share and (ii) 100% of the Fair Market Value of a Share on the date the Option is granted (110% in the case of an Incentive Stock Option granted to a Ten-Percent
Shareholder). 
 5.3 Maximum Duration. Options granted hereunder shall be for such term as the Committee shall determine;
provided that an Incentive Stock Option shall not be exercisable after the expiration of ten (10) years from the date it is granted (five (5) years in the case of an Incentive Stock Option granted to a Ten-Percent Shareholder) and a
Nonqualified Stock Option shall not be exercisable after the expiration of ten (10) years from the date it is granted; provided, further, however , that unless the Committee provides otherwise, an Option (other than an Incentive Stock
Option) may, upon the death of the Participant prior to the expiration of the Option, be exercised for up to five (5) years following the date of the Participant’s death, and one (1) of such years may extend beyond ten (10) years
from the date the Option is granted. The Committee may, subsequent to the granting of any Option, extend the term thereof, but in no event shall the term as so extended exceed the maximum term provided for in the preceding sentence. 

5.4 Vesting. Except as provided in this Section 5.4, no Option shall vest more rapidly than with respect to one-third of the
Shares subject to such Option on each of the first three anniversaries of the date such Option is granted. Notwithstanding the foregoing, in the discretion of the Committee, Options may vest more rapidly than provided in the preceding sentence in
the case of (i) a Participant’s death, Disability or retirement, (ii) grants of Options 

 
to new hires and (iii) a Change in Control. To the extent not exercised, installments shall accumulate and be exercisable, in whole or in part, at any time after becoming exercisable, but
not later than the date the Option expires. The Committee may accelerate the exercisability of any Option or portion thereof at any time. 

5.5 Limitations on Incentive Stock Options. To the extent that the aggregate Fair Market Value (determined as of the date of the
grant) of Shares with respect to which Incentive Stock Options granted under the Plan and “incentive stock options” (within the meaning of Section 422 of the Code) granted under all other plans of the Company or its Subsidiaries (in
either case determined without regard to this Section 5.5) are exercisable by a Participant for the first time during any calendar year exceeds $100,000, such Incentive Stock Options shall be treated as Nonqualified Stock Options. In applying
the limitation in the preceding sentence in the case of multiple Option grants, unless otherwise required by applicable law, Options which were intended to be Incentive Stock Options shall be treated as Nonqualified Stock Options according to the
order in which they were granted such that the most recently granted Options are first treated as Nonqualified Stock Options. 
 5.6
Transferability. Except as otherwise provided in this Section 5.6, no Option shall be transferable by the Participant otherwise than by will or by the laws of descent and distribution, and an Option shall be exercisable during the
lifetime of such Participant only by the Participant or his or her guardian or legal representative. The Committee may set forth in the Agreement evidencing an Option (other than an Incentive Stock Option) at the time of grant or thereafter, that
the Option, or a portion thereof, may be transferred to any third party, including but not limited to, members of the Participant’s immediate family, to trusts solely for the benefit of such immediate family members and to partnerships in which
such family members and/or trusts are the only partners. In addition, for purposes of the Plan, unless otherwise determined by the Committee at the time of grant or thereafter, a transferee of an Option pursuant to this Section 5.6 shall be
deemed to be the Participant; provided that the rights of any such transferee thereafter shall be nontransferable except that such transferee, where applicable under the terms of the transfer by the Participant, shall have the right
previously held by the Participant to designate a Beneficiary. For this purpose, immediate family means the Participant’s spouse, parents, children, stepchildren and grandchildren and the spouses of such parents, children, stepchildren and
grandchildren. The terms of an Option shall be final, binding and conclusive upon the beneficiaries, executors, administrators, heirs and successors of the Participant. Notwithstanding Section 20.2, or the terms of any Agreement, the Company or
any Subsidiary shall not withhold any amount attributable to the Participant’s tax liability from any payment of cash or Shares to a transferee or transferee’s Beneficiary under this Section 5.6, but may require the payment of an
amount equal to the Company’s or any Subsidiary’s withholding tax obligation as a condition to exercise or as a condition to the release of cash or Shares upon exercise or upon transfer of the option. 

5.7 Method of Exercise. The exercise of an Option shall be made only by giving written notice delivered in person or by mail to the
person designated by the Company, 

 
specifying the number of Shares to be exercised and, to the extent applicable, accompanied by payment therefor and otherwise in accordance with the Agreement pursuant to which the Option was
granted. The exercise price for any Shares purchased pursuant to the exercise of an Option shall be paid in any or any combination of the following forms: (a) cash or its equivalent (e.g., a check) or (b) the transfer, either actually or
by attestation, to the Company of Shares that have been held by the Participant for at least six (6) months (or such lesser period as may be permitted by the Committee) prior to the exercise of the Option, such transfer to be upon such terms
and conditions as determined by the Committee or (c) in the form of other property as determined by the Committee. In addition, Options may be exercised through a registered broker-dealer pursuant to such cashless exercise procedures that are,
from time to time, deemed acceptable by the Committee. Any Shares transferred to the Company as payment of the exercise price under an Option shall be valued at their Fair Market Value on the last business day preceding the date of exercise of such
Option. If requested by the Committee, the Participant shall deliver the Agreement evidencing the Option to the Company, which shall endorse thereon a notation of such exercise and return such Agreement to the Participant. No fractional Shares (or
cash in lieu thereof) shall be issued upon exercise of an Option and the number of Shares that may be purchased upon exercise shall be rounded to the nearest number of whole Shares. 

5.8 Rights of Participants. No Participant shall be deemed for any purpose to be the owner of any Shares subject to any Option unless
and until (a) the Option shall have been exercised pursuant to the terms thereof, (b) the Company shall have issued and delivered Shares (whether or not certificated) to the Participant, a securities broker acting on behalf of the
Participant or such other nominee of the Participant, and (c) the Participant’s name, or the name of his or her broker or other nominee, shall have been entered as a shareholder of record on the books of the Company. Thereupon, the
Participant shall have full voting, dividend and other ownership rights with respect to such Shares, subject to such terms and conditions as may be set forth in the applicable Agreement. 

5.9 Effect of Change in Control. The effect of a Change in Control on an Option shall be set forth in the applicable Agreement. 

6. Stock Appreciation Rights. 

6.1 Grant. The Committee may in its discretion, either alone or in connection with the grant of an Option, grant Stock Appreciation
Rights to Eligible Individuals in accordance with the Plan, the terms and conditions of which shall be set forth in an Agreement. A Stock Appreciation Right may be granted (a) at any time if unrelated to an Option or (b) if related to an
Option, either at the time of grant or at any time thereafter during the term of the Option. 
 6.2 Stock Appreciation Right Related to
an Option. If granted in connection with an Option, a Stock Appreciation Right shall cover the same Shares covered by 

 
the Option (or such lesser number of Shares as the Committee may determine) and shall, except as provided in this Section 6, be subject to the same terms and conditions as the related
Option. 
 (a) Exercise; Transferability. A Stock Appreciation Right granted in connection with an Option (i) shall be
exercisable at such time or times and only to the extent that the related Option is exercisable, (ii) shall be exercisable only if the Fair Market Value of a Share on the date of exercise exceeds the exercise price specified in the Agreement
evidencing the related Incentive Stock Option and (iii) shall not be transferable except to the extent the related Option is transferable. 

(b) Amount Payable. Upon the exercise of a Stock Appreciation Right related to an Option, the Participant shall be entitled to receive
an amount determined by multiplying (i) the excess of the Fair Market Value of a Share on the last business day preceding the date of exercise of such Stock Appreciation Right over the per Share exercise price under the related Option, by
(ii) the number of Shares as to which such Stock Appreciation Right is being exercised. Notwithstanding the foregoing, the Committee may limit in any manner the amount payable with respect to any Stock Appreciation Right by including such a
limit in the Agreement evidencing the Stock Appreciation Right at the time it is granted. 
 (c) Treatment of Related Options and Stock
Appreciation Rights Upon Exercise. Upon the exercise of a Stock Appreciation Right granted in connection with an Option, the Option shall be canceled to the extent of the number of Shares as to which the Stock Appreciation Right is exercised,
and upon the exercise of an Option granted in connection with a Stock Appreciation Right, the Stock Appreciation Right shall be canceled to the extent of the number of Shares as to which the Option is exercised or surrendered. 

6.3 Stock Appreciation Right Unrelated to an Option. A Stock Appreciation Right unrelated to an Option shall cover such number of
Shares as the Committee shall determine. 
 (a) Terms; Duration. Stock Appreciation Rights unrelated to Options shall contain such
terms and conditions as to exercisability, vesting and duration as the Committee shall determine, but in no event shall they have a term of greater than ten (10) years; provided that unless the Committee provides otherwise a Stock
Appreciation Right may, upon the death of the Participant prior to the expiration of the Award, be exercised for up to one (1) year following the date of the Participant’s death even if such period extends beyond ten (10) years from
the date the Stock Appreciation Right is granted. 
 (b) Amount Payable. Upon exercise of a Stock Appreciation Right unrelated to an
Option, the Grantee shall be entitled to receive an amount determined by 

 
multiplying (i) the excess of the Fair Market Value of a Share on the last business day preceding the date of exercise of such Stock Appreciation Right over the Fair Market Value of a Share
on the date the Stock Appreciation Right was granted, by (ii) the number of Shares as to which the Stock Appreciation Right is being exercised. Notwithstanding the foregoing, the Committee may limit in any manner the amount payable with respect
to any Stock Appreciation Right by including such a limit in the Agreement evidencing the Stock Appreciation Right at the time it is granted. 

(c) Transferability. (i) Except as otherwise provided in this Section 6.3(c), no Stock Appreciation Right unrelated to an
Option shall be transferable by the Participant otherwise than by will or the laws of descent and distribution, and a Stock Appreciation Right shall be exercisable during the lifetime of such Participant only by the Participant or his or her
guardian or legal representative. The Committee may set forth in the Agreement evidencing a Stock Appreciation Right at the time of grant or thereafter, that the Award, or a portion thereof, may be transferred to any third party, including but not
limited to, members of the Participant’s immediate family, to trusts solely for the benefit of such immediate family members and to partnerships in which such family members and/or trusts are the only partners. In addition, for purposes of the
Plan, unless otherwise determined by the Committee at the time of grant or thereafter, a transferee of a Stock Appreciation Right pursuant to this Section 6.3(c) shall be deemed to be the Participant; provided that the rights of any such
transferee thereafter shall be nontransferable except that such transferee, where applicable under the terms of the transfer by the Participant, shall have the right previously held by the Participant to designate a Beneficiary. For this purpose,
immediate family means the Participant’s spouse, parents, children, stepchildren and grandchildren and the spouses of such parents, children, stepchildren and grandchildren. The terms of a Stock Appreciation Right shall be final, binding and
conclusive upon the beneficiaries, executors, administrators, heirs and successors of the Participant. Notwithstanding Section 20.2, or the terms of any Agreement, the Company or any Subsidiary shall not withhold any amount attributable to the
Participant’s tax liability from any payment of cash or Shares to a transferee or transferee’s Beneficiary under this Section 6.3(c), but may require the payment of an amount equal to the Company’s or any Subsidiary’s
withholding tax obligation as a condition to exercise or as a condition to the release of cash or Shares upon exercise or upon transfer of the Stock Appreciation Right. 

6.4 Method of Exercise. Stock Appreciation Rights shall be exercised by a Participant only by giving written notice delivered in person
or by mail to the person designated by the Company, specifying the number of Shares with respect to which the Stock Appreciation Right is being exercised. If requested by the Committee, the Participant shall deliver the Agreement evidencing the
Stock Appreciation Right being exercised and the Agreement evidencing any related Option to the Company, which shall endorse thereon a notation of such exercise and return such Agreement to the Participant. 

6.5 Form of Payment. Payment of the amount determined under Section 

 
6.2(b) or 6.3(b) may be made in the discretion of the Committee solely in whole Shares in a number determined at their Fair Market Value on the last business day preceding the date of exercise of
the Stock Appreciation Right, or solely in cash, or in a combination of cash and Shares. If the Committee decides to make full payment in Shares and the amount payable results in a fractional Share, payment for the fractional Share will be made in
cash. 
 6.6 Effect of Change in Control. The effect of a Change in Control on a Stock Appreciation Right shall be set forth in the
applicable Agreement. 
 7. Dividend Equivalent Rights. 

The Committee may in its discretion, grant Dividend Equivalent Rights either in tandem with an Option or Award or as a separate Award, to
Eligible Individuals in accordance with the Plan. The terms and conditions applicable to each Dividend Equivalent Right shall be specified in the Agreement under which the Dividend Equivalent Right is granted. Amounts payable in respect of Dividend
Equivalent Rights may be payable currently or, if applicable, deferred until the lapsing of restrictions on such Dividend Equivalent Rights or until the vesting, exercise, payment, settlement or other lapse of restrictions on the Option or Award to
which the Dividend Equivalent Rights relate. In the event that the amount payable in respect of Dividend Equivalent Rights are to be deferred, the Committee shall determine whether such amounts are to be held in cash or reinvested in Shares or
deemed (notionally) to be reinvested in Shares. If amounts payable in respect of Dividend Equivalent Rights are to be held in cash, there may be credited at the end of each year (or portion thereof) interest on the amount of the account at the
beginning of the year at a rate per annum as the Committee, in its discretion, may determine. Dividend Equivalent Rights may be settled in cash or Shares or a combination thereof, in a single installment or multiple installments, as determined by
the Committee. 
 8. Restricted Stock; Restricted Stock Units. 

8.1 Restricted Stock. The Committee may grant to Eligible Individuals Awards of Restricted Stock, which shall be evidenced by an
Agreement. Each Agreement shall contain such restrictions, terms and conditions as the Committee may, in its discretion, determine and (without limiting the generality of the foregoing) such Agreements may require that an appropriate legend be
placed on Share certificates. Awards of Restricted Stock shall be subject to the terms and provisions set forth below in this Section 8.1 and in Section 8.3. 

(a) Rights of Participant. Shares of Restricted Stock granted pursuant to an Award hereunder shall be issued in the name of the
Participant as soon as reasonably practicable after the Award is granted provided that the Participant has executed an Agreement evidencing the Award, the appropriate blank stock powers and, in the discretion of the Committee, an escrow agreement
and any other documents which the Committee may 

 
require as a condition to the issuance of such Shares. At the discretion of the Committee, Shares issued in connection with an Award of Restricted Stock shall be deposited together with the stock
powers with an escrow agent (which may be the Company) designated by the Committee. Unless the Committee determines otherwise and as set forth in the Agreement, upon delivery of the Shares to the escrow agent, the Participant shall have all of the
rights of a shareholder with respect to such Shares, including the right to vote the Shares and to receive all dividends or other distributions paid or made with respect to the Shares. 

(b) Non-transferability. Until all restrictions upon the Shares of Restricted Stock awarded to a Participant shall have lapsed in the
manner set forth in Section 8.1(c), such Shares shall not be sold, transferred or otherwise disposed of and shall not be pledged or otherwise hypothecated. 

(c) Lapse of Restrictions. 

(i) Generally. Subject to the provisions of Section 8.3, restrictions upon Shares of Restricted Stock awarded hereunder shall
lapse at such time or times and on such terms and conditions as the Committee may determine. The Agreement evidencing the Award shall set forth any such restrictions. 

(ii) Effect of Change in Control. The effect of a Change in Control on an Awards of Shares of Restricted Stock shall be set forth in
the applicable Agreement. 
 (d) Treatment of Dividends. At the time an Award of Restricted Stock is granted, the Committee may, in
its discretion, determine that the payment to the Participant of dividends, or a specified portion thereof, declared or paid on such Shares by the Company shall be (i) deferred until the lapsing of the restrictions imposed upon such Shares and
(ii) held by the Company for the account of the Participant until such time. In the event that dividends are to be deferred, the Committee shall determine whether such dividends are to be reinvested in Shares (which shall be held as additional
Shares of Restricted Stock) or held in cash. If deferred dividends are to be held in cash, there may be credited interest on the amount of the account at such times and at a rate per annum as the Committee, in its discretion, may determine. Payment
of deferred dividends in respect of Shares of Restricted Stock (whether held in cash or as additional Shares of Restricted Stock), together with interest accrued thereon, if any, shall be made upon the lapsing of restrictions imposed on the Shares
in respect of which the deferred dividends were paid, and any dividends deferred (together with any interest accrued thereon) in respect of any Shares of Restricted Stock shall be forfeited upon the forfeiture of such Shares. 

(e) Delivery of Shares. Upon the lapse of the restrictions on 

 
Shares of Restricted Stock, the Committee shall cause a stock certificate or evidence of book entry Shares to be delivered to the Participant with respect to such Shares of Restricted Stock, free
of all restrictions hereunder. 
 8.2 Restricted Stock Unit Awards. The Committee may grant to Eligible Individuals Awards of
Restricted Stock Units, which shall be evidenced by an Agreement. Each such Agreement shall contain such restrictions, terms and conditions as the Committee may, in its discretion, determine. Awards of Restricted Stock Units shall be subject to the
terms and provisions set forth below in this Section 8.2 and in Section 8.3. 
 (a) Payment of Awards. Each Restricted
Stock Unit shall represent the right of the Participant to receive a payment upon vesting of the Restricted Stock Unit or on any later date specified by the Committee equal to the Fair Market Value of a Share as of the date the Restricted Stock Unit
was granted, the vesting date or such other date as determined by the Committee at the time the Restricted Stock Unit was granted. The Committee may, at the time a Restricted Stock Unit is granted, provide a limitation on the amount payable in
respect of each Restricted Stock Unit. The Committee may provide for the settlement of Restricted Stock Units in cash or with Shares having a Fair Market Value equal to the payment to which the Participant has become entitled. 

(b) Effect of Change in Control. The effect of a Change in Control on an Award of Restricted Stock Units shall be set forth in the
applicable Agreement. 
 8.3 Minimum Vesting for Restricted Stock and Restricted Stock Unit Award. Except as provided in this
Section 8.3, Awards of Restricted Stock and Restricted Stock Units shall not vest more rapidly than with respect to one-third of the Shares subject to such Award on each of the first three anniversaries of the date such Award is granted.
Notwithstanding the foregoing, in the discretion of the Committee, Awards of Restricted Stock and Restricted Stock Units may vest more rapidly than provided in the preceding sentence in the case of (i) a Participant’s death, Disability or
retirement, (ii) grants of Awards of Restricted Stock and Restricted Stock Units to new hires and (iii) a Change in Control. 
 9.
Performance Awards. 
 9.1 Performance Units and Performance Share Units. The Committee, in its discretion, may grant
Awards of Performance Units and/or Performance Share Units to Eligible Individuals, the terms and conditions of which shall be set forth in an Agreement. 

(a) Performance Units. Performance Units shall be denominated in a specified dollar amount and, contingent upon the attainment of
specified Performance Objectives within the Performance Cycle, represent the right to receive payment as provided in Sections 9.1(c) and (d) of the specified dollar 

 
amount or a percentage of the specified dollar amount depending on the level of Performance Objective attained; provided, however , that the Committee may at the time a Performance Unit is
granted specify a maximum amount payable in respect of a vested Performance Unit. Each Agreement shall specify the number of Performance Units to which it relates, the Performance Objectives which must be satisfied in order for the Performance Units
to vest and the Performance Cycle within which such Performance Objectives must be satisfied. 
 (b) Performance Share Units.
Performance Share Units shall be denominated in Shares and, contingent upon the attainment of specified Performance Objectives within the Performance Cycle, each Performance Share Unit represents the right to receive payment as provided in Sections
9.1(c) and (d) of the Fair Market Value of a Share on the date the Performance Share Unit was granted, the date the Performance Share Unit became vested or any other date specified by the Committee or a percentage of such amount depending on
the level of Performance Objective attained; provided, however , that the Committee may at the time a Performance Share Unit is granted specify a maximum amount payable in respect of a vested Performance Share Unit. Each Agreement shall
specify the number of Performance Share Units to which it relates, the Performance Objectives which must be satisfied in order for the Performance Share Units to vest and the Performance Cycle within which such Performance Objectives must be
satisfied. 
 (c) Vesting and Forfeiture. Subject to Sections 9.3(c) and 9.4, a Participant shall become vested with respect to the
Performance Share Units and Performance Units to the extent that the Performance Objectives for the Performance Cycle and other terms and conditions set forth in the Agreement are satisfied; provided, however, that, except as may be provided
pursuant to Section 9.4, no Performance Cycle for Performance Share Units and Performance Units shall be less than one (1) year. 

(d) Payment of Awards. Subject to Sections 9.3(c) and 9.4, payment to Participants in respect of vested Performance Share Units and
Performance Units shall be made as soon as practicable after the last day of the Performance Cycle to which such Award relates or at such other time or times as the Committee may determine, but in no event later than
2 1⁄2 months after the end of the calendar year in which the Performance Cycle is completed. Subject to Section 9.4, such payments may be made entirely in
Shares valued at their Fair Market Value, entirely in cash, or in such combination of Shares and cash as the Committee in its discretion shall determine at any time prior to such payment; provided, however , that if the Committee in its
discretion determines to make such payment entirely or partially in Shares of Restricted Stock, the Committee must determine the extent to which such payment will be in Shares of Restricted Stock and the terms of such Restricted Stock at the time
the Award is granted. 
 9.2 Performance-Based Restricted Stock. The Committee, in its discretion, may grant Awards of
Performance-Based Restricted Stock to Eligible Individuals, the terms and conditions of which shall be set forth in an Agreement. Each Agreement may 

 
require that an appropriate legend be placed on Share certificates. Awards of Performance-Based Restricted Stock shall be subject to the following terms and provisions: 

(a) Rights of Participant. Performance-Based Restricted Stock shall be issued in the name of the Participant as soon as reasonably
practicable after the Award is granted or at such other time or times as the Committee may determine; provided, however , that no Performance-Based Restricted Stock shall be issued until the Participant has executed an Agreement evidencing
the Award, the appropriate blank stock powers and, in the discretion of the Committee, an escrow agreement and any other documents which the Committee may require as a condition to the issuance of such Performance-Based Restricted Stock. At the
discretion of the Committee, Shares issued in connection with an Award of Performance-Based Restricted Stock shall be deposited together with the stock powers with an escrow agent (which may be the Company) designated by the Committee. Except as
restricted by the terms of the Agreement, upon delivery of the Shares to the escrow agent, the Participant shall have, in the discretion of the Committee, all of the rights of a shareholder with respect to such Shares, including the right to vote
the Shares and to receive all dividends or other distributions paid or made with respect to the Shares. Each Agreement shall specify the number of Shares of Performance-Based Restricted Stock to which it relates, the Performance Objectives which
must be satisfied in order for the Performance-Based Restricted Stock to vest and the Performance Cycle within which such Performance Objectives must be satisfied. 

(b) Lapse of Restrictions. Subject to Sections 9.3(c) and 9.4, restrictions upon Performance-Based Restricted Stock awarded hereunder
shall lapse and such Performance-Based Restricted Stock shall become vested at such time or times and on such terms, conditions and satisfaction of Performance Objectives as the Committee may, in its discretion, determine at the time an Award is
granted; provided, however, that, except as may be provided pursuant to Section 9.4, no Performance Cycle for Performance-Based Restricted Stock shall be less than one (1) year. 

(c) Treatment of Dividends. At the time the Award of Performance-Based Restricted Stock is granted, the Committee may, in
its discretion, determine that the payment to the Participant of dividends, or a specified portion thereof, declared or paid on Shares represented by such Award which have been issued by the Company to the Participant shall be (i) deferred
until the lapsing of the restrictions imposed upon such Performance-Based Restricted Stock and (ii) held by the Company for the account of the Participant until such time. In the event that dividends are to be deferred, the Committee shall
determine whether such dividends are to be reinvested in Shares (which shall be held as additional Shares of Performance-Based Restricted Stock) or held in cash. If deferred dividends are to be held in cash, there may be credited interest on the
amount of the account at such times and at a rate per annum as the Committee, in its discretion, may determine. Payment of deferred dividends in respect of Shares of Performance-Based Restricted Stock (whether held in cash or in additional Shares of
Performance-Based Restricted Stock), together with interest accrued thereon, if any, shall be made upon the lapsing of restrictions imposed on the 

 
Performance-Based Restricted Stock in respect of which the deferred dividends were paid, and any dividends deferred (together with any interest accrued thereon) in respect of any
Performance-Based Restricted Stock shall be forfeited upon the forfeiture of such Performance-Based Restricted Stock. 
 (d)
Delivery of Shares. Upon the lapse of the restrictions on Shares of Performance-Based Restricted Stock awarded hereunder, the Committee shall cause a stock certificate or evidence of book entry Shares to be delivered to the
Participant with respect to such Shares, free of all restrictions hereunder. 
 9.3 Performance Objectives 

(a) Establishment. Performance Objectives for Performance Awards may be expressed in terms of (i) stock price, (ii) earnings
per share, (iii) operating income, (iv) return on equity or assets, (v) cash flow, (vi) EBITDA, (vii) revenues, (viii) overall revenue or sales growth, (ix) expense reduction or management, (x) market
position, (xi) total shareholder return, (xii) return on investment, (xiii) earnings before interest and taxes (EBIT), (xiv) net income, (xv) return on net assets, (xvi) economic value added, (xvii) shareholder
value added, (xviii) cash flow return on investment, (xix) net operating profit, (xx) net operating profit after tax, (xxi) return on capital, (xxii) return on invested capital, or (xxiii) any combination, including one
or more ratios, of the foregoing. Performance Objectives may be in respect of the performance of the Company, any of its Subsidiaries, any of its Divisions or any combination thereof. Performance Objectives may be absolute or relative (to prior
performance of the Company or to the performance of one or more other entities or external indices) and may be expressed in terms of a progression within a specified range. In the case of a Performance Award which is intended to constitute
Performance-Based Compensation, the Performance Objectives with respect to a Performance Cycle shall be established in writing by the Committee by the earlier of (i) the date on which a quarter of the Performance Cycle has elapsed and
(ii) the date which is ninety (90) days after the commencement of the Performance Cycle, and in any event while the performance relating to the Performance Objectives remain substantially uncertain. 

(b) Effect of Certain Events. Unless otherwise provided by the Committee at the time the Performance Objectives in respect of a
Performance Award are established, performance shall be adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment (other than provisions for operating losses or income during the phase-out period),
unusual or infrequently occurring events and transactions that have been publicly disclosed and the cumulative effects of changes in accounting principles, all as determined in accordance with generally accepted accounting principles (to the extent
applicable). In addition, at the time of the granting of a Performance Award, or at any time thereafter, the Committee may provide for the manner in which performance will be measured against the Performance Objectives (or may adjust the Performance
Objectives) to reflect the impact of specified corporate transactions (such as a stock split or stock dividend), special 

 
charges, and tax law changes; provided , that in respect of Performance Awards intended to constitute Performance-Based Compensation, such provisions shall be permitted only to the extent
permitted under Section 162(m) of the Code and the regulations promulgated thereunder without adversely affecting the treatment of any Performance Award as Performance-Based Compensation. 

(c) Determination of Performance. Prior to the vesting, payment, settlement or lapsing of any restrictions with respect to any
Performance Award, the Committee shall certify in writing that the applicable Performance Objectives have been satisfied to the extent necessary for such Award to qualify as Performance-Based Compensation. In respect of a Performance Award, the
Committee may, in its sole discretion, reduce the amount of cash paid or number of Shares issued that become vested or on which restrictions lapse. The Committee shall not be entitled to exercise any discretion otherwise authorized hereunder with
respect to any Performance Award intended to constitute Performance Based Compensation if the ability to exercise such discretion or the exercise of such discretion itself would cause the compensation attributable to such Awards to fail to qualify
as Performance-Based Compensation. 
 9.4 Effect of Change in Control. The effect of a Change in Control on a
Performance Award shall be set forth in the applicable Agreement. 
 9.5 Non-transferability. Until the vesting of Performance Units
and Performance Share Units or the lapsing of any restrictions on Performance-Based Restricted Stock, as the case may be, such Performance Units, Performance Share Units or Performance-Based Restricted Stock shall not be sold, transferred or
otherwise disposed of and shall not be pledged or otherwise hypothecated. 
 10. Share Awards 

The Committee may grant a Share Award to any Eligible Individual on such terms and conditions as the Committee may determine in its sole
discretion. Share Awards may be made as additional compensation for services rendered by the Eligible Individual or may be in lieu of cash or other compensation to which the Eligible Individual is entitled from the Company. 

11. Awards to Directors. 

11.1 Authority of Committee. Subject to the provisions of the Plan, the Committee shall have the full and final authority to award
Options and Awards to Directors, and the terms and conditions of any grant to any such Eligible Individual shall be set forth in an Agreement. This Section 11 sets forth special provisions that, unless otherwise provided in an Agreement, shall
be applicable to Awards granted to Directors under the Plan. 

 11.2 Automatic Grants. Each Nonemployee Director shall be granted a Share Award on each
August 1st following such Nonemployee Director’s election to the Board as long as such Nonemployee Director is then still serving on the Board. Such Share Award shall be in respect of a number of Shares equal to $60,000 divided by the Fair
Market Value of a Share on the date such Award is granted; provided , however , that no fractional Shares (or cash in lieu thereof) in respect of such Award shall be granted and the number of Shares in respect of an Award shall be
rounded to the nearest number of whole Shares. 
 11.3 Issuance of Shares. The Shares issued pursuant to Share Awards granted to a
Nonemployee Director pursuant to Section 11.2 will be issued on the day preceding the first anniversary of the date of grant. In the event a Nonemployee Director ceases to serve as a director for any reason other as a result of his death,
Disability or his voluntary retirement after age 55, before the day preceding the first anniversary of the date of grant, the Share Award granted to a Nonemployee Director pursuant to Section 11.2 shall be forfeited on the date the Grantee
ceased to be a director, and the Nonemployee Director shall have no rights with respect thereto. In the event a Nonemployee Director ceases to serve as a director of the Company by reason of such Director’s death, Disability or voluntary
retirement after age 55, before the day preceding the first anniversary of the date of grant, the Shares issued pursuant to the Share Awards will be issued on the day preceding the first anniversary of the date of grant. 

12. Effect of a Termination of Employment. 

The Agreement evidencing the grant of each Option and each Award shall set forth the terms and conditions applicable to such Option or Award
upon (a) a termination or change in the status of the employment of the Participant by the Company, a Subsidiary or a Division (including a termination or change by reason of the sale of a Subsidiary or a Division), or (b) in the case of a
Director, the cessation of the Director’s service on the Board, which, except for Shares or Options granted to Directors pursuant to Section 11.2, shall be as the Committee may, in its discretion, determine at the time the Option or Award
is granted or thereafter. 
 13. Adjustment Upon Changes in Capitalization. 

13.1 In the event of a Change in Capitalization, the Committee shall make equitable adjustment of (a) the maximum number and class of
Shares or other stock or securities with respect to which Options or Awards may be granted under the Plan, (b) the maximum number and class of Shares or other stock or securities that may be issued upon exercise of Incentive Stock Options,
(c) the maximum number and class of Shares or other stock or securities with respect to which Options or Awards may be granted to any Eligible Individual in any calendar year, (d) the number and class of Shares or other stock or securities
which are subject to outstanding Options or Awards granted under the Plan and the exercise price therefore, if applicable and (e) the Performance Objectives. 

 13.2 Any such adjustment in the Shares or other stock or securities (a) subject to
outstanding Incentive Stock Options (including any adjustments in the exercise price) shall be made in such manner as not to constitute a modification as defined by Section 424(h)(3) of the Code and only to the extent otherwise permitted by
Sections 422 and 424 of the Code or (b) subject to outstanding Options or Awards that are intended to qualify as Performance-Based Compensation shall be made in such a manner as not to adversely affect the treatment of the Options or Awards as
Performance-Based Compensation. 
 13.3 If, by reason of a Change in Capitalization, a Participant shall be entitled to, or shall be
entitled to exercise an Option with respect to, new, additional or different shares of stock or securities of the Company or any other corporation, such new, additional or different shares shall thereupon be subject to all of the conditions,
restrictions and performance criteria which were applicable to the Shares subject to the Award or Option, as the case may be, prior to such Change in Capitalization. 

14. Effect of Certain Transactions. 

Subject to the terms of an Agreement, following (a) the liquidation or dissolution of the Company or (b) a merger or consolidation
of the Company (a “Transaction”), either (i) each outstanding Option or Award shall be treated as provided for in the agreement entered into in connection with the Transaction or (ii) if not so provided in such agreement, each
Optionee and Grantee shall be entitled to receive in respect of each Share subject to any outstanding Options or Awards, as the case may be, upon exercise of any Option or payment or transfer in respect of any Award, the same number and kind of
stock, securities, cash, property or other consideration that each holder of a Share was entitled to receive in the Transaction in respect of a Share; provided, however , that such stock, securities, cash, property, or other consideration
shall remain subject to all of the conditions, restrictions and performance criteria which were applicable to the Options and Awards prior to such Transaction. Without limiting the generality of the foregoing, the treatment of outstanding Options
and Stock Appreciation Rights pursuant to clause (i) of this Section 14 in connection with a Transaction may include the cancellation of outstanding Options and Stock Appreciation Rights upon consummation of the Transaction provided either
(x) the holders of affected Options and Stock Appreciation Rights have been given a period of at least fifteen (15) days prior to the date of the consummation of the Transaction to exercise the Options or Stock Appreciation Rights (whether
or not they were otherwise exercisable) or (y) the holders of the affected Options and Stock Appreciation Rights are paid (in cash or cash equivalents) in respect of each Share covered by the Option or Stock Appreciation Right being cancelled
an amount equal to the excess, if any, of the per share price paid or distributed to stockholders in the transaction (the value of any non-cash consideration to be determined by the Committee in its sole discretion) over the exercise price of the
Option or Stock Appreciation Right. For avoidance of doubt, (1) the cancellation of Options and Stock Appreciation Rights pursuant to clause (y) of the preceding sentence may be effected 

 
notwithstanding anything to the contrary contained in this Plan or any Agreement and (2) if the amount determined pursuant to clause (y) of the preceding sentence is zero or less, the
affected Option or Stock Appreciation Right may be cancelled without any payment therefor. The treatment of any Option or Award as provided in this Section 14 shall be conclusively presumed to be appropriate for purposes of Section 13.

 15. Interpretation. 

15.1 Section 16 Compliance. The Plan is intended to comply with Rule 16b-3 promulgated under the Exchange Act and the Committee
shall interpret and administer the provisions of the Plan or any Agreement in a manner consistent therewith. Any provisions inconsistent with such Rule shall be inoperative and shall not affect the validity of the Plan. 

15.2 Section 162(m). Unless otherwise determined by the Committee at the time of grant, (i) each Option, Stock Appreciation
Right, and Performance Award granted under the Plan to the Chief Executive Officer is intended to be Performance-Based Compensation, and (ii) each Option, Stock Appreciation Right and Performance Award granted under the Plan to any Participant
other than the Chief Executive Officer is not intended to be Performance-Based Compensation. Unless otherwise determined by the Committee, if any provision of the Plan or any Agreement relating to an Option or Award that is intended to be
Performance-Based Compensation does not comply or is inconsistent with Section 162(m) of the Code or the regulations promulgated thereunder (including IRS Regulation § 1.162-27 unless and to the extent it is superseded by an interim or
final regulation), such provision shall be construed or deemed amended to the extent necessary to conform to such requirements, and no provision shall be deemed to confer upon the Committee discretion to increase the amount of compensation otherwise
payable in connection with any such Option or Award upon the attainment of the Performance Objectives. 
 16. Termination and
Amendment of the Plan or Modification of Options and Awards. 
 16.1 Plan Amendment or Termination. The Board may at any time
terminate the Plan and the Board may at any time and from time to time amend, modify or suspend the Plan; provided, however , that: 

(a) no such amendment, modification, suspension or termination shall impair or adversely alter any Options or Awards theretofore granted under
the Plan, except with the consent of the Participant, nor shall any amendment, modification, suspension or termination deprive any Participant of any Shares which he or she may have acquired through or as a result of the Plan; 

(b) to the extent necessary under any applicable law, regulation 

 
or exchange requirement, no other amendment shall be effective unless approved by the shareholders of the Company in accordance with applicable law, regulation or exchange requirement; 

(c) no such amendment or modification shall materially modify the definition of “Eligible Individual” unless such amendment or
modification is approved by the shareholders of the Company in accordance with applicable law, regulation or exchange requirement; and 

(d) no such amendment or modification shall materially modify the number of Shares that may be made the subject of Awards or Options granted
under the Plan set forth in Section 4.1 unless such amendment or modification is approved by the shareholders of the Company in accordance with applicable law, regulation or exchange requirement. 

16.2 Modification of Options and Awards. No modification of an Option or Award shall adversely alter or impair any rights or
obligations under the Option or Award without the consent of the Participant. 
 17. Non-Exclusivity of the Plan. 

The adoption of the Plan by the Board shall not be construed as amending, modifying or rescinding any previously approved incentive
arrangement or as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options otherwise than under the Plan, and such
arrangements may be either applicable generally or only in specific cases. 
 18. Limitation of Liability. 

As illustrative of the limitations of liability of the Company, but not intended to be exhaustive thereof, nothing in the Plan shall be
construed to: 
 (a) give any person any right to be granted an Option or Award other than at the sole discretion of the Committee; 

(b) give any person any rights whatsoever with respect to Shares except as specifically provided in the Plan; 

 (c) limit in any way the right of the Company or any Subsidiary to terminate the employment of
any person at any time; or 
 (d) be evidence of any agreement or understanding, express or implied, that the Company will employ any
person at any particular rate of compensation or for any particular period of time. 
 19. Regulations and Other Approvals; Governing
Law. 
 19.1 Except as to matters of federal law, the Plan and the rights of all persons claiming hereunder shall be construed and
determined in accordance with the laws of the State of Delaware without giving effect to conflicts of laws principles thereof. 
 19.2 The
obligation of the Company to sell or deliver Shares with respect to Options and Awards granted under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable federal and state securities laws, and the
obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Committee. 
 19.3 The Board may
make such changes as may be necessary or appropriate to comply with the rules and regulations of any government authority, or to obtain for Eligible Individuals granted Incentive Stock Options the tax benefits under the applicable provisions of the
Code and regulations promulgated thereunder. 
 19.4 Each grant of an Option and Award and the issuance of Shares or other settlement of the
Option or Award is subject to the compliance with all applicable federal, state or foreign law. Further, if at any time the Committee determines, in its discretion, that the listing, registration or qualification of Shares issuable pursuant to the
Plan is required by any securities exchange or under any federal, state or foreign law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the grant of an Option or
Award or the issuance of Shares, no Options or Awards shall be or shall be deemed to be granted or payment made or Shares issued, in whole or in part, unless listing, registration, qualification, consent or approval has been effected or obtained
free of any conditions that are not acceptable to the Committee. Any person exercising an Option or receiving Shares in connection with any other Award shall make such representations and agreements and furnish such information as the Board or
Committee may request to assure compliance with the foregoing or any other applicable legal requirements. 
 19.5 Notwithstanding anything
contained in the Plan or any Agreement to the contrary, in the event that the disposition of Shares acquired pursuant to the Plan is not covered by a then current registration statement under the Securities Act of 1933, as amended (the
“Securities Act”), and is not otherwise exempt from such registration, such Shares shall be 

 
restricted against transfer to the extent required by the Securities Act and Rule 144 or other regulations promulgated thereunder. The Committee may require any individual receiving Shares
pursuant to an Option or Award granted under the Plan, as a condition precedent to receipt of such Shares, to represent and warrant to the Company in writing that the Shares acquired by such individual are acquired without a view to any distribution
thereof and will not be sold or transferred other than pursuant to an effective registration thereof under the Securities Act or pursuant to an exemption applicable under the Securities Act or the rules and regulations promulgated thereunder. The
certificates evidencing any of such Shares shall be appropriately amended or have an appropriate legend placed thereon to reflect their status as restricted securities as aforesaid. 

20. Miscellaneous. 

20.1 Multiple Agreements. The terms of each Option or Award may differ from other Options or Awards granted under the Plan at the same
time, or at some other time. The Committee may also grant more than one Option or Award to a given Eligible Individual during the term of the Plan, either in addition to, or subject to Section 3.6, in substitution for, one or more Options or
Awards previously granted to that Eligible Individual. 
 20.2 Withholding of Taxes. 

(a) The Company or any Subsidiary shall withhold from any payment of cash or Shares to a Participant or other person under the Plan an amount
sufficient to cover any withholding taxes which may become required with respect to such payment or shall take any other action as it deems necessary to satisfy any income or other tax withholding requirements as a result of the grant or exercise of
any Award under the Plan. The Company or any Subsidiary shall have the right to require the payment of any such taxes and require that any person furnish information deemed necessary by the Company or any Subsidiary to meet any tax reporting
obligation as a condition to exercise or before making any payment pursuant to an Award or Option. If specified in an Agreement at the time of grant or otherwise approved by the Committee, a Participant may, in satisfaction of his or her obligation
to pay withholding taxes in connection with the exercise, vesting or other settlement of an Option or Award, elect to (i) make a cash payment to the Company, (ii) have withheld a portion of the Shares then issuable to him or her, or
(iii) surrender Shares owned by the Participant prior to the exercise, vesting or other settlement of an Option or Award, in each case having an aggregate Fair Market Value equal to the withholding taxes. 

(b) If a Participant makes a disposition, within the meaning of Section 424(c) of the Code and regulations promulgated thereunder, of
any Share or Shares issued to such Participant pursuant to the exercise of an Incentive Stock Option within the two-year period commencing on the day after the date of the grant or within the one-year period commencing on the day after the date of
transfer of such Share or Shares to the Participant pursuant to such exercise, the Participant shall, within ten (10) days of such disposition, notify 

 
the Company thereof, by delivery of written notice to the Company at its principal executive office. 

20.3 Plan Unfunded. The Plan shall be unfunded. Except for reserving a sufficient number of authorized Shares to the extent required by
law to meet the requirements of the Plan, the Company shall not be required to establish any special or separate fund or to make any other segregation of assets to assure payment of any Award or Option granted under the Plan. 

20.4 Beneficiary Designation. Each Participant may, from time to time, name one or more individuals (each, a “Beneficiary”)
to whom any benefit under the Plan is to be paid in case of the Participant’s death before he or she receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form
prescribed by the Company, and will be effective only when filed by the Participant in writing with the Company during the Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death
shall be paid to the Participant’s estate. 
 20.5 Effective Date/Term. The effective date of the Plan shall be the date on
which the Plan is approved by the affirmative vote of the holders of a majority of the securities of the Company present, or represented, and entitled to vote at a meeting of shareholders duly held in accordance with the applicable laws of the State
of Delaware within twelve (12) months of the adoption of the Plan by the Board (the “Effective Date”). Upon such approval of the Plan by the shareholders, no further awards shall be granted under the Prior Plan. 

The Plan shall terminate on the Termination Date. No Option or Award shall be granted after the Termination Date. The applicable terms of the
Plan, and any terms and conditions applicable to Options and Awards granted prior to the Termination Date shall survive the termination of the Plan and continue to apply to such Options and Awards. 

20.6 Translations. Any inconsistency between the terms of the Plan or any Agreement and the corresponding translation thereof into
a language other than English shall be resolved by reference, solely, to the English language document.

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