Document:

EX-10.1

 Exhibit 10.1 

January 24, 2019 
 Tracey Dedrick 

[Intentionally Omitted] 
 Dear Mrs. Dedrick: 

The Board of Directors (the “Board”) of First BanCorp (the “Corporation”), the bank holding company of FirstBank Puerto
Rico (the “Bank”), is pleased to offer you the position as a Director of the Board of the Corporation. Your service as a Director of the Corporation shall be effective as of January 24, 2019 (the “Effective Date”), the date
of effectiveness of this offer letter (the “Offer Letter”). 
 The following are the detailed terms of this Offer Letter: 

 

	1.	 Position/Services. 

  

	 	a.	 You will be expected to devote a reasonable amount of your business time to your services to the Corporation
pursuant to this Offer Letter commensurate with your role as a member of the Board and as a member or Chair of a Board committee and you agree that you will not, without the prior written consent of the Corporation, directly or indirectly, provide
any material services to any other banking entity which competes in any material respect with the Corporation and its subsidiaries until the earlier of (i) the termination of your services to the Corporation pursuant to this Offer Letter, and
(ii) your resignation as Director (such date, the “Termination Date”), provided however that any services provided by you to any other banking entity which you have disclosed to the Corporation prior to the presentation of this Offer
Letter and which continues to be provided as of its execution is not prohibited pursuant to this section and shall not require the prior written consent of the Corporation. You may resign as a member of the Board at any time upon written notice to
its Chairman. 

  

	 	b.	 You shall render services as a member of the Board, as well as a member of any other committee which you may be
appointed to by the Board during your services as a member of the Board, which may include the appointment as a committee chair. You shall attend and participate to the maximum extent practicable in such number of meetings of the Board and of the
committee(s) of which you are a member as regularly or specially called. 

  

	2.	 Term. Your term as Director shall continue until your successor is duly elected and qualified or until any
resignation by you shall be effective. The position shall be up for re-election each year at the annual shareholders’ meeting and upon re-election, the terms and
provisions of this Offer Letter (as modified from time to time) shall remain in full force and effect. 

  

	3.	 Fees and Compensation. 

 

	 	a.	 Annual Director’s Fees. Commencing on the Effective Date, you will be paid fees for your services as a
Director in a total amount equal to $115,000 per year (such amount, the “Annual Fee”). The Annual Fee shall be payable $75,000 in cash (the “Annual Retainer”) and $40,000 in the form of an annual grant of restricted stock (the
“Restricted Stock”), under the First BanCorp Omnibus Incentive Plan, as amended. The cash Annual Retainer shall be paid in equal installments on a monthly basis over a twelve-month period. The Restricted Stock shall be awarded at the
beginning of each twelve-month period during which you are a Director and shall be subject to a twelve-month vesting period. In addition, you may receive additional compensation in the form of retainers depending upon the Board committees which you
may be appointed to by the Board during your services as a member 

	 	
of the Board as follows, subject to the right of the Board to change such fee structure at its discretion based on changed circumstances: 

 

									
	Committee	  	Committee Chair
Retainer	 	  	Committee
Member Retainer	 
			
	 Audit Committee
	  	 	$25,000	 	  	 	$5,000	 
			
	 Compensation and Benefits Committee
	  	 	$  5,000	 	  	 	-0-	
			
	 Corporate Governance and Nominating Committee
	  	 	$  5,000	 	  	 	-0-	
			
	 Asset/Liability Committee
	  	 	$  5,000	 	  	 	-0-	
			
	 Credit Committee
	  	 	$25,000	 	  	 	$5,000	 
			
	 Compliance Committee
	  	 	$  5,000	 	  	 	-0-	
			
	 Risk Management Committee
	  	 	$25,000	 	  	 	$5,000	 

  

	 	b.	 Taxes. You are responsible for paying all Federal, state, and local income or business taxes, including
estimated taxes, self-employment and any other taxes, fees, additions to tax, interest, or penalties, which may be assessed, imposed, or incurred as a result of any amounts paid to you pursuant to this Offer Letter. The Corporation may withhold or
cause to be withheld from any Annual Fee any Federal, Puerto Rico, state or local taxes required by law to be withheld with respect to such Annual Fee. By acceptance of this Agreement, Director agrees to such deductions. 

 

	4.	 Reimbursement of Board Meeting/Committee Expenses: D&O Insurance and Indemnification.

  

	 	a.	 You shall be entitled to receive reimbursement for all reasonable and substantiated (i) expenses incurred
by you in connection with your attending each Board meeting and any director education meetings, including reasonable and substantiated business class or equivalent travel expenses and meals and lodging, and (ii) legal expenses incurred by you
in connection with the negotiation of this Offer Letter. All expenses incurred under this Section 4 will be reimbursed in accordance with the applicable policies and procedures of the Corporation; provided, however, that any amounts reimbursed
in one taxable year will not affect the amounts eligible for reimbursement by the Corporation in a different taxable year, and all reimbursement requests must be submitted by you no later than December 31 of the calendar year following the
calendar year in which the expense was incurred. 

  

	 	b.	 The Corporation shall, at its expense, purchase and maintain director’s and officer’s
(“D&O”) insurance in an amount comparable to the amount of D&O insurance provided by chartered banks with similar total assets and of a similar size and complexity to the Corporation (but in no event less than $10 million), to
protect itself and you, as a Director serving at the request of the Corporation, against any expense, liability, or loss, whether or not the Corporation would have the power to indemnify you against such expense, liability, or loss under applicable
law. Such insurance shall be written by an insurer or insurers admitted to issue such insurance in Puerto Rico and holding a financial strength rating (“FSR”) of not less than B+ as such FSR is assigned by Best’s and shall be on terms
and conditions as shall be customary in the current market from time to time. Such coverage shall include a “Side A” coverage available to directors in an amount comparable to that obtained by other comparable institutions (but in no event
less than $10 million). The Corporation shall purchase such coverage on a basis that will provide protection to you not only during the time of your service as a director of the Board but also for six years after such service shall terminate for any
reason. The Corporation will provide copies of its D&O insurance policies to you upon request and will promptly advise you of any changes that may occur in its existing coverages. 

 

	 	c.	 As a Director serving at the request of the Corporation, you shall be indemnified by the Corporation to the
fullest extent permitted by applicable law against judgments, penalties (including excise and 

  
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similar taxes and punitive damages), fines, settlements, and reasonable expenses (including reasonable attorneys’ and expert witness fees) actually incurred by you in connection with any
actual or threatened proceeding (a “Proceeding”) relating to or arising from your service as a member of the Board or any committee thereof with any such expenses being advanced to you within 30 days of your written request therefore;
provided that in any matter covered by paragraph (2) of Article Ninth of the Articles of Incorporation of the Corporation your conduct is not finally adjudged in a non-appealable decision by a court of
competent jurisdiction to have constituted fraud, bad faith, gross negligence or willful and knowing violation of any law applicable to the Corporation or your service as a director or member of a committee of the Board, in which case there shall be
no indemnification and you shall return any advances to the Corporation (a “Non-Indemnifiable Claim”); provided, further, however, that you shall be entitled to indemnification in any circumstance in
which you acted or failed to act in reliance upon advice of counsel to the Corporation or the Board or any committee thereof or the court in which such action was brought shall determines upon application, that despite the adjudication of liability
but in view of all the circumstances of the case, you are fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper. Your entitlement to indemnification under this Section 4.c. shall not be limited to your
entitlement to protection under any applicable insurance coverage and to any other indemnification or payment you may be entitled to under the circumstances under the Corporation’s articles of incorporation or
by-laws or under any other agreement. Notwithstanding the foregoing, the Corporation shall not be obligated to provide any indemnification or advancement of expenses when (i) a Proceeding is between the
Corporation and you (provided that you shall be entitled to such indemnification in respect of any action brought by or in the right of the Corporation by any shareholder thereof, i.e., a derivative action, and in respect of any action brought by
you to establish your right to indemnification hereunder or otherwise; providing any such actions do not constitute a Non-Indemnifiable Claim); or (ii) prohibited by applicable law or regulation,
including 12 C.F.R. part 359. 

  

	 	d.	 Each and every provision of this Section 4 is separate and distinct so that if any provision hereof shall
be held to be invalid or unenforceable for any reason, such invalidity or unenforceability shall not affect the validity or enforceability of any other provision hereof. To the extent required, any provision of this Section 4 may be
modified by a court of competent jurisdiction to preserve its validity and to provide you with the broadest possible indemnification permitted under Puerto Rican law. 

 

	 	e.	 If any provision of this Section 4 is invalidated on any ground by any court of competent jurisdiction,
the Corporation shall nevertheless indemnify you as to any expenses, judgments, fines, penalties or excise taxes incurred with respect to any Proceeding to the full extent permitted by any provision hereof that has not been invalidated or by any
other applicable provision of Puerto Rico law. 

  

	5.	 General Provisions. 

  

	 	a.	 This Offer Letter supersedes any other agreements or promises made to you by anyone at the Corporation, whether
oral or written, and, subject to approval by the Board, comprises the final, complete, and exclusive agreement between you and the Corporation. 

  

	 	b.	 This Offer Letter shall be governed by the laws of the Commonwealth of Puerto Rico, without regard to its
principles of conflicts or choices of laws. 

  

	 	c.	 This Offer Letter may be modified only by a written instrument duly executed by you and an authorized
representative of the Corporation. 

  

	 	d.	 This Offer Letter may be executed by the parties in separate counterparts, each of which, when so executed and
delivered, shall be an original, but all of which, when taken as a whole, shall constitute one and the same instrument. 

  
 Page 3 of 5 

	 	e.	 Any notices that are required to be given pursuant to this Offer Letter must be in writing and may be given by
personal delivery, registered or certified mail (postage prepaid, return receipt requested), facsimile, courier, or overnight mail delivery to the following addresses: 

 

					
	To the Company:	  	 First BanCorp
 PO Box 9146

San Juan, PR 00907-0146
	  	 
			
	To You:	  	Tracey Dedrick	  	
		  	[Intentionally Omitted]	  	

  

	 	f.	 The Corporation and you hereby consent to the jurisdiction of the Federal and State courts of the Commonwealth
of Puerto for the purpose of hearing any Proceeding between you and the Corporation arising hereunder or in respect to your service as a member of the Board or any committee thereof. 

 

	 	g.	 This Offer Letter shall be binding upon, and shall inure to the benefit of you and your heirs, executors and
administrators, whether or not you have ceased to be a director, and the Corporation and its successors and assigns. 

(SIGNATURE PAGE FOLLOWS) 

  
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 Please sign and date this Offer Letter below and return it to the Corporation as soon as
possible but in no event later than January 29, 2019, to indicate your agreement to the terms and conditions described herein. 
 We
look forward to your favorable reply and to a productive and enjoyable work relationship. 
 Sincerely, 

First BanCorp 

			
		
	By:	 	/s/ Roberto Herencia
		 	Roberto Herencia
		 	Chairman of the Board

 Agreed and Accepted: 

			
		
	By:	 	/s/ Tracey Dedrick
		 	Tracey Dedrick

  
 Page 5 of 5Exhibit 10.1

    

     

    

    FRANKLIN COVEY CO.

      2019 OMNIBUS INCENTIVE PLAN

     

    Section 1.                          Purpose

     

    The purpose of the Plan is to promote the interests of the Company and its shareholders by aiding the
        Company in attracting and retaining employees, officers, consultants, advisors and non‐employee Directors capable of assuring the future success of the Company, to offer such persons incentives to put forth maximum efforts for the success of the
        Company’s business and to compensate such persons through various stock-based arrangements and provide them with opportunities for stock ownership in the Company, thereby aligning the interests of such persons with the Company’s shareholders.

     

    Section 2.                          Definitions

     

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

     

    (a)            “Affiliate” shall mean any entity that, directly or indirectly through one or more
        intermediaries, is controlled by the Company.

     

    (b)            “Award” shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit
        or Other Stock-Based Award granted under the Plan.

     

    (c)            “Award Agreement” shall mean any written agreement, contract or other instrument or document
        evidencing an Award granted under the Plan (including a document in an electronic medium) executed in accordance with the requirements of Section 9(b).

     

    (d)            “Board” shall mean the Board of Directors of the Company.

     

    (e)            “Change in Control” shall mean the occurrence of any of the following events:

     

    
      	
              (i) 

              

            	
              a change in control required to be reported pursuant to Item 6(e) of Schedule 14A of Regulation 14A under the Exchange Act;
                

              

            

    

    
      	
              (ii) 

              

            	
              a change in the composition of the Board, as a result of which fewer than fifty percent of the incumbent Directors are Directors
                  who either (i) had been directors of the Company 24 months prior to such change or (ii) were elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Directors who had been Directors of the
                  Company 24 months prior to such change and who were still in office at the time of the election or nomination; 

              

            

    

    
      	
              (iii) 

              

            	
              any “person” (as such term is used in Section 13(d) of the Exchange Act) is or becomes the beneficial owner, directly or
                  indirectly, of securities of the Company representing 30 percent or more of the combined voting power of the Company’s then outstanding securities ordinarily (and apart from rights accruing under special circumstances) having the right to
                  vote at elections of Directors (the “Base Capital Stock”); provided, however, that any change in the relative beneficial ownership of
                  securities of any person resulting solely from a reduction in the aggregate number of outstanding shares of Base Capital Stock, and any decrease thereafter in such person’s ownership of securities, shall be disregarded until such person
                  increases in any manner, directly or indirectly, such person’s beneficial ownership of any securities of the Company; or 

              

            

    

    
      1

      
        

    

     

    
      	
              (iv) 

              

            	
              The consummation of a merger or consolidation of the Company with or into another person or the sale, transfer, or other
                  disposition of all or substantially all of the Company’s assets to one or more other persons in a single transaction or series of related transactions that requires the approval of the Company’s shareholders, whether for such transaction
                  or the issuance of securities in such transaction (a “Business Combination”), unless in connection with such Business Combination
                  securities possessing more than 50% of the total combined voting power of the survivor’s or acquiror’s outstanding securities (or the securities of any parent thereof) are held by a person or persons who held securities possessing more
                  than 50% of the total combined voting power of the Company’s outstanding securities (“Company Voting Securities”) immediately prior to
                  such Business Combination and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to such Business
                  Combination. 

              

            

    

    (f)            “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and any
        regulations promulgated thereunder.

     

    (g)            “Committee” shall mean The Organization and Compensation Committee of the Board or such other
        committee designated by the Board to administer the Plan.  The Committee shall be comprised of not less than such number of Directors as shall be required to permit Awards granted under the Plan to qualify under Rule 16b‐3, and at least two members
        of the Committee shall be a “non‐employee director” within the meaning of Rule 16b‐3.

     

    (h)            “Company” shall mean Franklin Covey Co. and any successor corporation.

     

    (i)            “Director” shall mean a member of the Board.

     

    (j)            “Eligible Person” shall mean any employee, officer, non‐employee Director, consultant,
        independent contractor or advisor providing services to the Company or any Affiliate, or any such person to whom an offer of employment or engagement with the Company or any Affiliate is extended.

     

    (k)            “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

     

    (l)            “Fair Market Value” with respect to one Share as of any date shall mean (a) if the Share is
        listed on any established stock exchange, the price of one Share at the close of the regular trading session of such market or exchange on such date, as reported by The New York Stock Exchange or a comparable reporting service, or, if no sale of
        Shares shall have occurred on such date, on the next preceding date on which there was a sale of Shares; (b) if the Shares are not so listed on any established stock exchange, the average of the closing “bid” and “asked” prices quoted by the OTC
        Bulletin Board, the National Quotation Bureau, or any comparable reporting service on such date or, if there are no quoted “bid” and “asked” prices on such date, on the next preceding date for which there are such quotes for a Share; or (c) if the
        Shares are not publicly traded as of such date, the per share value of a Share, as determined by the Board, or any duly authorized Committee of the Board, in its sole discretion, by applying principles of valuation with respect thereto.

     

    
      2

      
        

    

     

    (m)            “Incentive Stock Option” shall mean an option granted under Section 6(a) of the Plan that is intended to meet the requirements of Section 422 of the Code or any successor provision.

     

    (n)            “Non‐Qualified Stock Option” shall mean an option granted under Section 6(a) of the Plan that is not intended to be an Incentive Stock Option.

     

    (o)            “Option” shall mean an Incentive Stock Option or a Non‐Qualified Stock Option to purchase shares
        of the Company.

     

    (p)            “Other Stock-Based Award” shall mean any right granted under Section 6(d) of the Plan.

     

    (q)            “Participant” shall mean an Eligible Person designated to be granted an Award under the Plan.

     

    (r)            “Person” shall mean any individual or entity, including a corporation, partnership, limited
        liability company, association, joint venture or trust.

     

    (s)            “Plan” shall mean the Franklin Covey Co. 2019 Omnibus Incentive Plan, as amended from time to
        time.

     

    (t)            “Prior Stock Plans” shall mean the Franklin Covey Co. 2015 Omnibus Incentive Plan and the
        Franklin Covey Co. Second Amended and Restated 1992 Stock Incentive Plan, as amended from time to time.

     

    (u)            “Restricted Stock” shall mean any Share granted under Section 6(c) of the Plan.

     

    (v)            “Restricted Stock Unit” shall mean any unit granted under Section 6(c) of the Plan evidencing the right to receive a Share (or a cash payment equal to the Fair Market Value of a Share) at some future date.

     

    (w)            “Rule 16b‐3” shall mean Rule 16b‐3 promulgated by the Securities and Exchange Commission under
        the Exchange Act or any successor rule or regulation.

     

    (x)            “Section 409A” shall mean Section 409A of the Code, or any successor provision, and applicable
        Treasury Regulations and other applicable guidance thereunder.

     

    (y)            “Securities Act” shall mean the Securities Act of 1933, as amended.

     

    (z)            “Share” or “Shares” shall mean common shares in the capital of the Company (or such other securities or property as may become subject to Awards pursuant to an adjustment made under Section 4(c) of the Plan).

     

    
      3

      
        

    

     

    (aa)            “Specified Employee” shall mean a specified employee as defined in Section 409A(a)(2)(B) of the
        Code or applicable proposed or final regulations under Section 409A, determined in accordance with procedures established by the Company and applied uniformly with respect to all plans maintained by the Company that are subject to Section 409A.

     

    (bb)            “Stock Appreciation Right” shall mean any right granted under Section 6(b) of the Plan.

     

    Section 3.                          Administration

     

    (a)            Power and Authority of the Committee.  The Plan shall be administered by the Committee.  Subject to the
        express provisions of the Plan and to applicable law, the Committee shall have full power and authority to:  (i) designate Participants; (ii) determine the type or types of Awards to be granted to each Participant under the Plan; (iii) determine
        the number of Shares to be covered by (or the method by which payments or other rights are to be calculated in connection with) each Award; (iv) determine the terms and conditions of any Award or Award Agreement, including any terms relating to the
        forfeiture of any Award and the forfeiture, recapture or disgorgement of any cash, Shares or other amounts payable with respect to any Award; (v) amend the terms and conditions of any Award or Award Agreement, subject to the limitations under Section 7; (vi) accelerate the exercisability of any Award or the lapse of any restrictions relating to any Award, subject to the limitations in Sections 6(e)(vi) and 6(e)(viii) and Section 7, (vii) determine
        whether, to what extent and under what circumstances Awards may be exercised in cash, Shares, other securities, other Awards or other property (excluding promissory notes), or canceled, forfeited or suspended, subject to the limitations in Section 7; (viii) determine whether, to what extent and under what circumstances amounts payable with respect to an Award under the Plan shall be deferred either
        automatically or at the election of the holder thereof or the Committee, subject to the requirements of Section 409A; (ix) interpret and administer the Plan and any instrument or agreement, including an Award Agreement, relating to the Plan;
        (x) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; (xi) make any other determination and take any other action that the Committee deems
        necessary or desirable for the administration of the Plan; and (xii) adopt such modifications, rules, procedures and subplans as may be necessary or desirable to comply with provisions of the laws of non‐U.S. jurisdictions in which the Company or
        an Affiliate may operate, including, without limitation, establishing any special rules for Affiliates, Eligible Persons or Participants located in any particular country, in order to meet the objectives of the Plan and to ensure the viability of
        the intended benefits of Awards granted to Participants located in such non‐United States jurisdictions.  Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations and other decisions under or with respect
        to the Plan or any Award or Award Agreement shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon any Participant, any holder or beneficiary of any Award or Award Agreement,
        and any employee of the Company or any Affiliate.

     

    (b)            Delegation.  The Committee may delegate to one or more officers or Directors of the Company, subject to such
        terms, conditions and limitations as the Committee may establish in its sole discretion, the authority to grant Awards; provided, however, that the Committee shall not delegate such authority (i) with regard to grants of Awards to be made to officers of the Company or any
        Affiliate who are subject to Section 16 of the Exchange Act or (ii) in such a manner as would cause the Plan not to comply with the requirements of applicable exchange rules or applicable corporate law.

     

    
      4

      
        

    

     

    (c)            Power and Authority of the Board.  Notwithstanding anything to the contrary contained herein, (i) the Board
        may, at any time and from time to time, without any further action of the Committee, exercise the powers and duties of the Committee under the Plan, unless the exercise of such powers and duties by the Board would cause the Plan not to comply with
        the requirements of Rule 16b‐3; and (ii) only the Committee (or another committee of the Board comprised of directors who qualify as independent directors within the meaning of the independence rules of any applicable securities exchange where the
        Shares are then listed) may grant Awards to Directors who are not also employees of the Company or an Affiliate.

     

    (d)            Indemnification.  To the full extent permitted by law, (i) no member of the Board, the Committee or any person
        to whom the Committee delegates authority under the Plan shall be liable for any action or determination taken or made in good faith with respect to the Plan or any Award made under the Plan, and (ii) the members of the Board, the Committee and
        each person to whom the Committee delegates authority under the Plan shall be entitled to indemnification by the Company with regard to such actions and determinations.  The provisions of this paragraph shall be in addition to such other rights of
        indemnification as a member of the Board, the Committee or any other person may have by virtue of such person’s position with the Company.

     

    Section 4.                          Shares Available for Awards

     

    (a)            Shares Available.  Subject to adjustment as provided in Section 4(c) of the Plan, the aggregate number of Shares that may be issued under all Awards under the Plan shall equal:

     

    
      	
              (i) 

              

            	
              700,000 Shares, plus 

              

            

    

    
      	
              (ii) 

              

            	
              any Shares subject to any outstanding award under the Prior Stock Plans that, after November 30, 2018, are not purchased or are
                  forfeited or reacquired by the Company, or otherwise not delivered to the Participant due to termination or cancellation of such award, subject to the share counting provisions of Section 4(b) below, less 

              

            

    

    
      	
              (iii) 

              

            	
              any Shares subject to any award issued under the Prior Stock Plans after November 30, 2018.  On and after shareholder approval of
                  this Plan, no awards shall be granted under the Prior Stock Plans, but all outstanding awards previously granted under the Prior Stock Plans shall remain outstanding and subject to the terms of the Prior Stock Plans. 

              

            

    

    The aggregate number of Shares that may be issued under all Awards under the Plan shall be reduced by
        Shares subject to Awards issued under the Plan in accordance with the Share counting rules described in Section 4(b) below.  When determining the Shares
        added to and subtracted from the aggregate reserve under paragraphs (ii) and (iii) above, the number of Shares added or subtracted shall be also determined in accordance with the Share counting rules described in Section 4(b) below (including, for avoidance of doubt the Share recycling rules).

     

    
      5

      
        

    

     

    (b)            Counting Shares.  For purposes of this Section 4, except as set forth in this Section 4(b) below, if an Award entitles the holder thereof to receive or purchase Shares,
        the number of Shares covered by such Award or to which such Award relates shall be counted on the date of grant of such Award against the aggregate number of Shares available for granting Awards under the Plan.

     

    
      	
              (i) 

              

            	
              Shares Added Back to Reserve.  Subject
                  to the limitations in (ii) below, if any Shares covered by an Award or to which an Award relates are not purchased or are forfeited or are reacquired by the Company, then the number of Shares counted against the aggregate number of Shares
                  available under the Plan with respect to such Award, to the extent of any such forfeiture, reacquisition by the Company, termination or cancellation, shall again be available for granting Awards under the Plan. 

              

            

    

    
      	
              (ii) 

              

            	
              Shares Not Added Back to Reserve. 
                  Notwithstanding anything to the contrary in (i) above, the following Shares will not again become available for issuance under the Plan:  (A) any Shares which would have been issued upon any exercise of an Option but for the fact that the
                  exercise price was paid by a “net exercise” pursuant to Section 6(a)(iii)(B) or any Shares tendered in payment of the exercise price of an Option;
                  (B) any Shares withheld by the Company or Shares tendered to satisfy any tax withholding obligation; (C) Shares covered by a stock-settled Stock Appreciation Right issued under the Plan that are not issued in connection with settlement in
                  Shares upon exercise; or (D) Shares that are repurchased by the Company using Option exercise proceeds. 

              

            

    

    
      	
              (iii) 

              

            	
              Cash-Only Awards.  Awards that do not
                  entitle the holder thereof to receive or purchase Shares shall not be counted against the aggregate number of Shares available for Awards under the Plan. 

              

            

    

    
      	
              (iv) 

              

            	
              Substitute Awards Relating to Acquired Entities. 

                  Shares issued under Awards granted in substitution for awards previously granted by an entity that is acquired by or merged with the Company or an Affiliate shall not be counted against the aggregate number of Shares available for Awards
                  under the Plan. 

              

            

    

    (c)            Adjustments.  In the event that any dividend (other than a regular cash dividend) or other distribution
        (whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split‐up, spin‐off, combination, repurchase or exchange of Shares or other
        securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company or other similar corporate transaction or event affects the Shares such that an adjustment is necessary in order to prevent
        dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Shares (or other
        securities or other property) that thereafter may be made the subject of Awards, (ii) the number and type of Shares (or other securities or other property) subject to outstanding Awards, (iii) the purchase price or exercise price with respect to
        any Award and (iv) the limitations contained in Sections 4(d)(i) and (ii) below; provided, however, that the number of Shares covered by any Award or to which such Award relates shall
        always be a whole number.  Such adjustment shall be made by the Committee or the Board, whose determination in that respect shall be final, binding and conclusive.

     

    
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    (d)            Award Limitations Under the Plan.  The limitation contained in this Section 4(d) shall apply only with respect to any Award or Awards granted under this Plan, and limitations on awards granted under any other shareholder‐approved incentive plan
        maintained by the Company will be governed solely by the terms of such other plan.

     

    
      	
              (i) 

              

            	
              Limitation for Employees and Officers. 
                  No Eligible Person who is an employee or officer may be granted any Award or Awards denominated in Shares for more than 250,000 Shares (subject to adjustment as provided for in Section 4(c) of the Plan), in the aggregate in any fiscal year. 

              

            

    

    
      	
              (ii) 

              

            	
              Limitation for Consultants, Independent Contractors
                      and Advisors.  No Eligible Person who is a consultant, independent contractor or advisor may be granted any Award or Awards denominated in Shares for more than 250,000 Shares (subject to adjustment as provided for in Section 4(c) of the Plan), in the aggregate in any fiscal year. 

              

            

    

    
      	
              (iii) 

              

            	
              Limitation of Awards Granted to Non-Employee
                      Directors.  No Director who is not also an employee of the Company or an Affiliate may be granted any Award or Awards denominated in Shares that exceed in the aggregate $125,000 (such value computed as of the date of grant
                  in accordance with applicable financial accounting rules) in any fiscal year.  The foregoing limit shall not apply to any Award made pursuant to any election by the Director to receive an Award in lieu of all or a portion of annual and
                  committee retainers and annual meeting fees. 

              

            

    

    Section 5.                          Eligibility

     

    Any Eligible Person shall be eligible to be designated as a Participant.  In determining which Eligible
        Persons shall receive an Award and the terms of any Award, the Committee may take into account the nature of the services rendered by the respective Eligible Persons, their present and potential contributions to the success of the Company or such
        other factors as the Committee, in its discretion, shall deem relevant.  Notwithstanding the foregoing, an Incentive Stock Option may only be granted to employees (which term as used herein includes, without limitation, officers and Directors who
        are also employees), and an Incentive Stock Option shall not be granted to an employee of an Affiliate unless such Affiliate is also a “subsidiary corporation” of the Company within the meaning of Section 424(f) of the Code or any successor
        provision.

     

    
      7

      
        

    

     

    Section 6.                          Awards

     

    (a)            Options.  The Committee is hereby authorized to grant Options to Eligible Persons with the following terms and
        conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine:

     

    
      	
              (i) 

              

            	
              Exercise Price.  The purchase price per
                  Share purchasable under an Option shall be determined by the Committee and shall not be less than 100% of the Fair Market Value of a Share on the date of grant of such Option; provided, however, that the Committee may designate a purchase price below Fair Market Value on the date of grant if the Option is granted in substitution for a stock option previously granted
                  by an entity that is acquired by or merged with the Company or an Affiliate. 

              

            

    

    
      	
              (ii) 

              

            	
              Option Term.  The term of each Option
                  shall be fixed by the Committee at the time but shall not be longer than 10 years from the date of grant.  Notwithstanding the foregoing, the Committee may provide in the terms of an Option (either at grant or by subsequent modification)
                  that, to the extent consistent with Section 409A, in the event that on the last business day of the term of an Option (other than an Incentive Stock Option) (i) the exercise of the Option is prohibited by applicable law or (ii) Shares may
                  not be purchased or sold by certain employees or directors of the Company due to the “black-out period” of a Company policy or a “lock-up” agreement undertaken in connection with an issuance of securities by the Company, the term of the
                  Option shall be extended for a period of not more than thirty (30) days following the end of the legal prohibition, black-out period or lock-up agreement. 

              

            

    

    
      	
              (iii) 

              

            	
              Time and Method of Exercise.  Subject to
                  Section 6(a)(iii)(B), the Committee shall determine the time or times at which an Option may be exercised in whole or in part and the method or
                  methods by which, and the form or forms, including, but not limited to, cash, Shares (actually or by attestation), other securities, other Awards or other property, or any combination thereof, having a Fair Market Value on the exercise
                  date equal to the applicable exercise price, in which, payment of the exercise price with respect thereto may be made or deemed to have been made. 

              

            

    

    
      	
              (A) 

              

            	
              Promissory Notes.  Notwithstanding the
                  foregoing, the Committee may not accept a promissory note as consideration. 

              

            

    

    
      	
              (B) 

              

            	
              Net Exercises.  Notwithstanding anything
                  to the contrary herein, the Participant may, in his or her discretion, exercise an Option by requesting that the Company deliver to the Participant a number of Shares having an aggregate Fair Market Value (determined as of the date of
                  exercise) equal to the excess, if positive, of the Fair Market Value of the Shares underlying the Option being exercised on the date of exercise, over the exercise price of the Option for such Shares. 

              

            

    

    
      8

      
        

    

      

    
      	
              (iv) 

              

            	
              Incentive Stock Options. 
                  Notwithstanding anything in the Plan to the contrary, the following additional provisions shall apply to the grant of stock options which are intended to qualify as Incentive Stock Options: 

              

            

    

    
      	
              (A) 

              

            	
              The aggregate number of Shares that may be issued under all Incentive Stock Options under the Plan shall be 700,000 Shares.
                

              

            

    

    
      	
              (B) 

              

            	
              The Committee will not grant Incentive Stock Options in which the aggregate Fair Market Value (determined as of the time the Option
                  is granted) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by any Participant during any calendar year (under this Plan and all other plans of the Company and its Affiliates) shall exceed
                  $100,000. 

              

            

    

    
      	
              (C) 

              

            	
              All Incentive Stock Options must be granted within ten years from the earlier of the date on which this Plan was adopted by the
                  Board or the date this Plan was approved by the shareholders of the Company. 

              

            

    

    
      	
              (D) 

              

            	
              Unless sooner exercised, all Incentive Stock Options shall expire and no longer be exercisable no later than 10 years after the
                  date of grant; provided, however,
                  that in the case of a grant of an Incentive Stock Option to a Participant who, at the time such Option is granted, owns (within the meaning of Section 422 of the Code) stock possessing more than 10% of the total combined voting power of
                  all classes of stock of the Company or of its Affiliates, such Incentive Stock Option shall expire and no longer be exercisable no later than five years from the date of grant. 

              

            

    

    
      	
              (E) 

              

            	
              The purchase price per Share for an Incentive Stock Option shall be not less than 100% of the Fair Market Value of a Share on the
                  date of grant of the Incentive Stock Option; provided, however, that, in the case of the grant of an Incentive Stock Option to a Participant who, at the time such Option is granted, owns (within the meaning of Section 422 of the Code) stock possessing more than
                  10% of the total combined voting power of all classes of stock of the Company or of its Affiliates, the purchase price per Share purchasable under an Incentive Stock Option shall be not less than 110% of the Fair Market Value of a Share
                  on the date of grant of the Incentive Stock Option. 

              

            

    

    
      	
              (F) 

              

            	
              Any Incentive Stock Option authorized under the Plan shall contain such other provisions as the Committee shall deem advisable, but
                  shall in all events be consistent with and contain all provisions required in order to qualify the Option as an Incentive Stock Option. 

              

            

    

    
      9

      
        

    

    

    

    (b)            Stock Appreciation Rights.  The Committee is hereby authorized to grant Stock Appreciation Rights to Eligible
        Persons subject to the terms of the Plan and any applicable Award Agreement.  A Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to receive upon exercise thereof the excess of (i) the Fair Market Value of
        one Share on the date of exercise over (ii) the grant price of the Stock Appreciation Right as specified by the Committee, which price shall not be less than 100% of the Fair Market Value of one Share on the date of grant of the Stock Appreciation
        Right; provided, however, that the Committee may designate a grant price below Fair Market Value on the date of grant if the Stock
        Appreciation Right is granted in substitution for a stock appreciation right previously granted by an entity that is acquired by or merged with the Company or an Affiliate.  Subject to the terms of the Plan and any applicable Award Agreement, the
        grant price, term, methods of exercise, dates of exercise, methods of settlement and any other terms and conditions of any Stock Appreciation Right shall be as determined by the Committee (except that the term of each Stock Appreciation Right shall
        be subject to the same limitations in Section 6(a)(ii) applicable to Options).  The Committee may impose such conditions or restrictions on the exercise of
        any Stock Appreciation Right as it may deem appropriate.

     

    (c)            Restricted Stock and Restricted Stock Units.  The Committee is hereby authorized to grant an Award of
        Restricted Stock and Restricted Stock Units to Eligible Persons with the following terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine:

     

    
      	
              (i) 

              

            	
              Restrictions.  Shares of
                  Restricted Stock and Restricted Stock Units shall be subject to such restrictions as the Committee may impose (including, without limitation, any limitation on the right to receive any property with respect thereto), which restrictions
                  may lapse separately or in combination at such time or times, in such installments or otherwise as the Committee may deem appropriate.  For purposes of clarity and without limiting the Committee’s general authority under Section 3(a), vesting of such Awards may, at the Committee’s discretion, be conditioned upon the Participant’s completion of a minimum period
                  of service with the Company or an Affiliate, or upon the achievement of one or more performance goals established by the Committee, or upon any combination of service-based and performance-based conditions.  As provided in Section 6(e)(ix) below, the holders of Restricted Stock will not have any voting, dividend, or other rights until the Restricted Stock
                  restrictions lapse or are waived.  The holders of Restricted Stock Units shall have no voting rights and shall have no dividend rights until the applicable restrictions lapse or are waived. 

              

            

    

    
      10

      
        

    

    

    

    
      	
              (ii) 

              

            	
              Issuance and Delivery of Shares.  Any
                  Restricted Stock granted under the Plan shall be issued at the time such Awards are granted and may be evidenced in such manner as the Committee may deem appropriate, including book‐entry registration or issuance of a stock certificate or
                  certificates, which certificate or certificates shall be held by the Company or held in nominee name by the stock transfer agent or brokerage service selected by the Company to provide such services for the Plan.  Such certificate or
                  certificates shall be registered in the name of the Participant and shall bear an appropriate legend referring to the restrictions applicable to such Restricted Stock.  Shares representing Restricted Stock that are no longer subject to
                  restrictions shall be delivered (including by updating the book‐entry registration) to the Participant promptly after the applicable restrictions lapse or are waived.  In the case of Restricted Stock Units, no Shares shall be issued at
                  the time such Awards are granted.  Upon the lapse or waiver of restrictions and the restricted period relating to Restricted Stock Units evidencing the right to receive Shares, such Shares shall be issued and delivered to the holder of
                  the Restricted Stock Units. 

              

            

    

    (d)            Other Stock-Based Awards.  The Committee is hereby authorized to grant to Eligible Persons such other Awards
        that are denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including, without limitation, securities convertible into Shares), as are deemed by the Committee to be consistent with
        the purpose of the Plan.  The Committee shall determine the terms and conditions of such Awards, subject to the terms of the Plan and any applicable Award Agreement.  No Award issued under this Section 6(d) shall contain a purchase right or an option-like exercise feature.

     

                  (e)            General Consideration for Awards.  Awards may be granted for no cash consideration or for any cash or other consideration as may be
      determined by the Committee or required by applicable law.
     

    
      	
              (i) 

              

            	
              Awards May Be Granted Separately or Together. 

                  Awards may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with or in substitution for any other Award or any award granted under any other plan of the Company or any Affiliate.  Awards granted in
                  addition to or in tandem with other Awards or in addition to or in tandem with awards granted under any other plan of the Company or any Affiliate may be granted either at the same time as or at a different time from the grant of such
                  other Awards or awards. 

              

            

    

    
      	
              (ii) 

              

            	
              Forms of Payment under Awards.  Subject
                  to the terms of the Plan and of any applicable Award Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant, exercise or payment of an Award may be made in such form or forms as the Committee shall
                  determine (including, without limitation, cash, Shares, other securities (but excluding promissory notes), other Awards or other property or any combination thereof), and may be made in a single payment or transfer, in installments or on
                  a deferred basis, in each case in accordance with rules and procedures established by the Committee.  Such rules and procedures may include, without limitation, provisions for the payment or crediting of reasonable interest on installment
                  or deferred payments. 

              

            

    

    
      	
              (iii) 

              

            	
              Limits on Transfer of Awards.  No Award
                  (other than fully vested and unrestricted Shares issued pursuant to any Award) and no right under any such Award shall be transferable by a Participant other than by will or by the laws of descent and distribution, and no Award (other
                  than fully vested and unrestricted Shares issued pursuant to any Award) or right under any such Award may be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance thereof
                  shall be void and unenforceable against the Company or any Affiliate.  Notwithstanding the foregoing, the Committee may permit the transfer of an Award other than a fully vested and unrestricted Share to family members, provided that such
                  permitted transfer shall be for no value and in accordance with the rules of Form S-8.  The Committee may also establish procedures as it deems appropriate for a Participant to designate a person or persons, as beneficiary or
                  beneficiaries, to exercise the rights of the Participant and receive any property distributable with respect to any Award in the event of the Participant’s death. 

              

            

    

    
      11

      
        

    

      

    
      	
              (iv) 

              

            	
              Restrictions; Securities Exchange Listing. 

                  All Shares or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such restrictions as the Committee may deem advisable under the Plan, applicable federal or state securities laws
                  and regulatory requirements, and the Committee may cause appropriate entries to be made with respect to, or legends to be placed on the certificates for, such Shares or other securities to reflect such restrictions.  The Company shall not
                  be required to deliver any Shares or other securities covered by an Award unless and until the requirements of any federal or state securities or other laws, rules or regulations (including the rules of any securities exchange) as may be
                  determined by the Company to be applicable are satisfied. 

              

            

    

    
      	
              (v) 

              

            	
              Prohibition on Option and Stock Appreciation Right
                      Repricing.  Except as provided in Section 4(c) hereof, the Committee may not, without prior approval of the Company’s shareholders,
                  seek to effect any re-pricing of any previously granted, “underwater” Option or Stock Appreciation Right by:  (i) amending or modifying the terms of the Option or Stock Appreciation Right to lower the exercise price; (ii) canceling the
                  underwater Option or Stock Appreciation Right and granting either (A) replacement Options or Stock Appreciation Rights having a lower exercise price; or (B) Restricted Stock, Restricted Stock Units, or Other Stock-Based Award in exchange;
                  or (iii) cancelling or repurchasing the underwater Option or Stock Appreciation Right for cash or other securities.  An Option or Stock Appreciation Right will be deemed to be “underwater” at any time when the Fair Market Value of the
                  Shares covered by such Award is less than the exercise price of the Award. 

              

            

    

    
      	
              (vi) 

              

            	
              Minimum Vesting.  Except as provided in
                  (A) below, no Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, or Other‐Stock Based Award shall be granted with terms providing for a lapse of any vesting obligations earlier than a date that is at least one-year
                  following the date of grant (or, in the case of vesting based upon performance-based objectives, vesting restrictions cannot lapse earlier than the one-year anniversary measured from the commencement of the period over which performance
                  is evaluated). 

              

            

    

    
      12

      
        

    

     

    
      	
              (A) 

              

            	
              Notwithstanding the foregoing, a maximum of five percent (5%) of the aggregate number of Shares available for issuance under this
                  Plan may be issued as Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units or other Stock‐Based Awards that do not comply with the applicable one‐year minimum vesting requirements set forth above. 

              

            

    

    
      	
              (B) 

              

            	
              For purposes of counting Shares against the five percent (5%) limitation, the Share counting rules under Sections 4(a) and 4(b) of the Plan apply. 

              

            

    

    
      	
              (C) 

              

            	
              Nothing in this Section 6 shall limit the authority of the Committee to provide for the acceleration of the exercisability of any
                  Award or the lapse of any restrictions relating to any Award except where expressly limited in Section 6(e)(viii). 

              

            

    

    
      	
              (vii) 

              

            	
              Section 409A Provisions. 
                  Notwithstanding anything in the Plan or any Award Agreement to the contrary, to the extent that any amount or benefit that constitutes “deferred compensation” to a Participant under Section 409A and applicable guidance thereunder is
                  otherwise payable or distributable to a Participant under the Plan or any Award Agreement solely by reason of the occurrence of a change in control event or due to the Participant’s disability or “separation from service” (as such term is
                  defined under Section 409A), such amount or benefit will not be payable or distributable to the Participant by reason of such circumstance unless the Committee determines in good faith that (i) the circumstances giving rise to such change
                  in control event, disability or separation from service meet the definition of a change in control event, disability, or separation from service, as the case may be, in Section 409A(a)(2)(A) of the Code and applicable proposed or final
                  regulations, or (ii) the payment or distribution of such amount or benefit would be exempt from the application of Section 409A by reason of the short‐term deferral exemption or otherwise.  Any payment or distribution that otherwise would
                  be made to a Participant who is a Specified Employee (as determined by the Committee in good faith) on account of separation from service may not be made before the date which is six months after the date of the Specified Employee’s
                  separation from service (or if earlier, upon the Specified Employee’s death) unless the payment or distribution is exempt from the application of Section 409A by reason of the short‐term deferral exemption or otherwise. 

              

            

    

    
      13

      
        

    

     

    
      	
              (viii) 

              

            	
              Acceleration of Vesting or Exercisability. 

                  No Award Agreement shall accelerate time-based vesting of any Award solely in connection with any corporate transaction as described in Section 7(b);
                  provided, that an Award Agreement may accelerate time-based vesting for events occurring in connection with a corporate transaction
                  that are materially adverse to the Participant (e.g., termination without cause, resignation for good reason, death or disability, as
                  such terms are determined by the Committee).  The Committee may, pursuant to its general authority under Section 3(a), waive the foregoing
                  limitation and accelerate time-based vesting under an Award, but only upon the consummation of (or effective immediately prior to the consummation of, provided that the consummation subsequently occurs) a corporate transaction that
                  qualifies as a Change in Control where the definitive agreement among the parties to the Change in Control contemplates that the Award will be cancelled in exchange for an immediate right to cash in accordance with Section 7(b)(i).  The foregoing limitation shall not be construed to limit the Committee’s ability to modify performance vesting conditions (as opposed
                  to time-based vesting provisions) in connection with a corporate transaction. 

              

            

    

    
      	
              (ix) 

              

            	
              Dividend Rights.  Except as provided in
                  Section 4(c)(with respect to equitable adjustments), the holders of Awards shall have no voting rights and shall have no dividend or equivalent
                  rights (including no right to accrue dividends or dividend equivalent amounts that become payable upon vesting, lapse of restrictions, or settlement of an Award).  In the event of any non-regular dividend or similar equitable adjustment
                  to an Award under Section 4(c), such dividend or other adjustment amount shall be subject to the same vesting and other restrictions as apply to
                  the underlying Award Shares.  The foregoing limitations shall not apply to fully vested, unrestricted Shares issued under any Award. 

              

            

    

    Section 7.                          Amendment and Termination; Corrections

     

    (a)            Amendments to the Plan and Awards.  The Board may from time to time amend, suspend or terminate this Plan, and
        the Committee may amend the terms of any previously granted Award, provided that no amendment to the terms of any previously granted Award may, (except as expressly provided in the Plan) materially and adversely alter or impair the terms or
        conditions of the Award previously granted to a Participant under this Plan without the written consent of the Participant or holder thereof.  Any amendment to this Plan, or to the terms of any Award previously granted, is subject to compliance
        with all applicable laws, rules, regulations and policies of any applicable governmental entity or securities exchange, including receipt of any required approval from the governmental entity or stock exchange.  For greater certainty and without
        limiting the foregoing, the Board may amend, suspend, terminate or discontinue the Plan, and the Committee may amend or alter any previously granted Award, as applicable, without obtaining the approval of shareholders of the Company in order to:

     

    
      	
              (i) 

              

            	
              unless the New York Stock Exchange or any other securities exchange that is applicable to the Company requires otherwise, amend the
                  eligibility for, and limitations or conditions imposed upon, participation in the Plan; 

              

            

    

    
      14

      
        

    

     

    
      	
              (ii) 

              

            	
              amend any terms relating to the granting or exercise of Awards, including but not limited to terms relating to the amount and
                  payment of the exercise price, or the vesting, expiration, assignment or adjustment of Awards, or otherwise waive any conditions of or rights of the Company under any outstanding Award, prospectively or retroactively; 

              

            

    

    
      	
              (iii) 

              

            	
              make changes that are necessary or desirable to comply with applicable laws, rules, regulations and policies of any applicable
                  governmental entity or stock exchange (including amendments to Awards necessary or desirable to maximize any available tax deduction or to avoid any adverse tax results, and no action taken to comply with such tax provision shall be
                  deemed to impair or otherwise adversely alter or impair the rights of any holder of an Award or beneficiary thereof); or 

              

            

    

    
      	
              (iv) 

              

            	
              amend any terms relating to the administration of the Plan, including the terms of any administrative guidelines or other rules
                  related to the Plan. 

              

            

    

    For greater certainty, prior approval of the shareholders of the Company shall be required for any
        amendment to the Plan or an Award that would:

     

    
      	
              (i) 

              

            	
              require shareholder approval under the rules or regulations of the Securities and Exchange Commission, the New York Stock Exchange
                  or any other securities exchange that is applicable to the Company; 

              

            

    

    
      	
              (ii) 

              

            	
              increase the number of shares authorized under the Plan as specified in Section 4(a) of the Plan; 

              

            

    

    
      	
              (iii) 

              

            	
              increase the number of shares or value subject to the limitations contained in Section 4(d) of the Plan; 

              

            

    

    
      	
              (iv) 

              

            	
              permit repricing of Options or Stock Appreciation Rights, which is currently prohibited by Section 6(e)(v) of the Plan; 

              

            

    

    
      	
              (v) 

              

            	
              permit the award of Options or Stock Appreciation Rights at a price less than 100% of the Fair Market Value of a Share on the date
                  of grant of such Option or Stock Appreciation Right, contrary to the provisions of Section 6(a)(i) and Section 6(b) of the Plan; or 

              

            

    

    
      	
              (vi) 

              

            	
              increase the maximum term permitted for Options and Stock Appreciation Rights as specified in Section 6(a)(ii) and Section 6(b). 

              

            

    

    (b)            Corporate Transactions.  In the event of any reorganization, merger, consolidation, split‐up, spin‐off,
        combination, plan of arrangement, take-over bid or tender offer, Change in Control, repurchase or exchange of Shares or other securities of the Company or any other similar corporate transaction or event involving the Company (or the Company shall
        enter into a written agreement to undergo such a transaction or event), the Committee or the Board may, in its sole discretion but subject to the limitation in Section
            6(e)(viii), provide for any of the following to be effective upon the consummation of the event (or effective immediately prior to the consummation of the event, provided that the consummation of the event subsequently occurs), and
        no action taken under this Section 7(b) shall be deemed to impair or otherwise adversely alter the rights of any holder of an Award or beneficiary thereof:

     

    
      15

      
        

    

     

    
      	
              (i) 

              

            	
              either (A) termination of the Award, whether or not vested, in exchange for an amount of cash and/or other property, if any, equal
                  to the amount that would have been attained upon the exercise of the Award or realization of the Participant’s rights (and, for the avoidance of doubt, if, as of the date of the occurrence of the transaction or event described in this Section 7(b)(i)(A), the Committee or the Board determines in good faith that no amount would have been attained upon the exercise of the Award or
                  realization of the Participant’s rights, then the Award may be terminated by the Company without any payment) or (B) the replacement of the Award with other rights or property selected by the Committee or the Board, in its sole
                  discretion; 

              

            

    

    
      	
              (ii) 

              

            	
              that the Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for
                  by similar options, rights or awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; 

              

            

    

    
      	
              (iii) 

              

            	
              that, subject to the limitation in Section
                      6(e)(viii), the Award shall be exercisable or payable or fully vested with respect to all Shares covered thereby, notwithstanding anything to the contrary in the applicable Award Agreement; or 

              

            

    

    
      	
              (iv) 

              

            	
              that the Award cannot vest, be exercised or become payable after a date certain in the future, which may be the effective date of
                  the event. 

              

            

    

    (c)            Correction of Defects, Omissions and Inconsistencies.  The Committee may, without prior approval of the
        shareholders of the Company, correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award or Award Agreement in the manner and to the extent it shall deem desirable to implement or maintain the effectiveness of
        the Plan.

     

    Section 8.                          Income Tax Withholding

     

    In order to comply with all applicable federal, state, local or foreign income tax laws or regulations,
        the Company may take such action as it deems appropriate to ensure that all applicable federal, state, local or foreign payroll, withholding, income or other taxes, which are the sole and absolute responsibility of a Participant, are withheld or
        collected from such Participant.  In order to assist a Participant in paying all or a portion of the applicable taxes to be withheld or collected upon exercise or receipt of (or the lapse of restrictions relating to) an Award, a Participant may, in
        his or her discretion, satisfy such tax obligation by (a) electing to have the Company withhold a portion of the Shares otherwise to be delivered upon exercise or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market
        Value equal to the amount of such taxes (consistent with the guidance provided by ASC Topic 718 to avoid adverse accounting treatment) or (b) delivering to the Company Shares other than Shares issuable upon exercise or receipt of (or the lapse of
        restrictions relating to) such Award with a Fair Market Value equal to the amount of such taxes.  The election, if any, must be made on or before the date that the amount of tax to be withheld is determined.

     

    
      16

      
        

    

    

    

    Section 9.                          General Provisions

     

    (a)            No Rights to Awards.  No Eligible Person, Participant or other Person shall have any claim to be granted any
        Award under the Plan, and there is no obligation for uniformity of treatment of Eligible Persons, Participants or holders or beneficiaries of Awards under the Plan.  The terms and conditions of Awards need not be the same with respect to any
        Participant or with respect to different Participants.

     

    (b)            Award Agreements.  No Participant shall have rights under an Award granted to such Participant unless and
        until an Award Agreement shall have been signed by the Participant (if requested by the Company), or until such Award Agreement is delivered and accepted through an electronic medium in accordance with procedures established by the Company.  An
        Award Agreement need not be signed by a representative of the Company unless required by the Committee.  Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent
        with the Plan) determined by the Committee.

     

    (c)            Plan Provisions Control.  In the event that any provision of an Award Agreement conflicts with or is
        inconsistent in any respect with the terms of the Plan as set forth herein or subsequently amended, the terms of the Plan shall control.

     

    (d)            No Rights of Shareholders.  Except with respect to Shares issued under Awards (and subject to such conditions
        as the Committee may impose on such Awards pursuant to Section 6(c)(i)), neither a Participant nor the Participant’s legal representative shall be, or have
        any of the rights and privileges of, a shareholder of the Company with respect to any Shares issuable upon the exercise or payment of any Award, in whole or in part, unless and until such Shares have been issued.

     

    (e)            No Limit on Other Compensation Arrangements.  Nothing contained in the Plan shall prevent the Company or any
        Affiliate from adopting or continuing in effect other or additional compensation plans or arrangements, and such plans or arrangements may be either generally applicable or applicable only in specific cases.

     

    (f)            No Right to Employment.  The grant of an Award shall not be construed as giving a Participant the right to be
        retained as an employee of the Company or any Affiliate, nor will it affect in any way the right of the Company or an Affiliate to terminate a Participant’s employment at any time, with or without cause, in accordance with applicable law.  In
        addition, the Company or an Affiliate may at any time dismiss a Participant from employment free from any liability or any claim under the Plan or any Award, unless otherwise expressly provided in the Plan or in any Award Agreement.  Nothing in
        this Plan shall confer on any person any legal or equitable right against the Company or any Affiliate, directly or indirectly, or give rise to any cause of action at law or in equity against the Company or an Affiliate.  Under no circumstances
        shall any person ceasing to be an employee of the Company or any Affiliate be entitled to any compensation for any loss of any right or benefit under the Plan which such employee might otherwise have enjoyed but for termination of employment,
        whether such compensation is claimed by way of damages for wrongful or unfair dismissal, breach of contract or otherwise.  By participating in the Plan, each Participant shall be deemed to have accepted all the conditions of the Plan and the terms
        and conditions of any rules and regulations adopted by the Committee and shall be fully bound thereby.

     

    
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    (g)            Governing Law.  The internal law, and not the law of conflicts, of the State of Utah shall govern all
        questions concerning the validity, construction and effect of the Plan or any Award, and any rules and regulations relating to the Plan or any Award.

     

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

     

    (i)            No Trust or Fund Created.  Neither the Plan nor any Award shall create or be construed to create a trust or
        separate fund of any kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other Person.  To the extent that any Person acquires a right to receive payments from the Company or any Affiliate pursuant to an
        Award, such right shall be no greater than the right of any unsecured general creditor of the Company or any Affiliate.

     

    (j)            Other Benefits.  No compensation or benefit awarded to or realized by any Participant under the Plan shall be
        included for the purpose of computing such Participant’s compensation or benefits under any pension, retirement, savings, profit sharing, group insurance, disability, severance, termination pay, welfare or other benefit plan of the Company, unless
        required by law or otherwise provided by such other plan.

     

    (k)            No Fractional Shares.  No fractional Shares shall be issued or delivered pursuant to the Plan or any Award,
        and the Committee shall determine whether cash shall be paid in lieu of any fractional Share or whether such fractional Share or any rights thereto shall be canceled, terminated or otherwise eliminated.

     

    (l)            Headings.  Headings are given to the sections and subsections of the Plan solely as a convenience to
        facilitate reference.  Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.

     

    Section 10.                          Clawback or Recoupment

     

    All Awards under this Plan shall be subject to forfeiture or other penalties pursuant to (i) any Company
        clawback policy, as may be adopted or amended from time to time, (ii) any applicable law, rule or regulation or applicable stock exchange rule, including, without limitation, Section 304 of the Sarbanes-Oxley Act of 2002, Section 954 of the
        Dodd-Frank Wall Street Reform and Consumer Protection Act, Section 10D of the Securities Exchange Act of 1934 and any applicable stock exchange listing rule adopted pursuant thereto, and (iii) such forfeiture and/or penalty conditions or provisions
        as determined by the Committee.  By accepting an Award hereunder, the Participant agrees to such recovery or other penalties.

     

    
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    Section 11.                          Effective Date of the Plan

     

    The Plan was adopted by the Board on December 7, 2018.  The Plan shall be subject to approval by the
        shareholders of the Company at the annual meeting of shareholders of the Company to be held on January 25, 2019, and the Plan shall be effective as of the date of such shareholder approval.  On and after shareholder approval of the Plan, no awards
        shall be granted under the Prior Stock Plan, but all outstanding awards previously granted under the Prior Stock Plan shall remain outstanding and subject to the terms of the Prior Stock Plan.

     

    Section 12.                          Term of the Plan

     

    No Award shall be granted under the Plan, and the Plan shall terminate, on December 7, 2028 or any
        earlier date of discontinuation or termination established pursuant to Section 7(a) of the Plan.  Unless otherwise expressly provided in the Plan or in an
        applicable Award Agreement, any Award theretofore granted may extend beyond such dates, and the authority of the Committee provided for hereunder with respect to the Plan and any Awards, and the authority of the Board to amend the Plan, shall
        extend beyond the termination of the Plan.

     

  

  19

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