Document:

Exhibit 4.jjj

Exhibit 4.jjj

 

 

EL PRESENTE CONVENIO DE OCUPACION TEMPORAL es celebrado con fecha del     24    de Junio 2009,  por los comparecientes:

ALICIA EUSEBIO SECUNDINO,  mexicana, mayor de edad, viuda,  actuando en el presente acto por su propio derecho, con domicilio conocido en la Comunidad de El Aguacate, Municipio de Tejupilco, México (denominado en lo sucesivo como el “Titular”)

POR LA PRIMERA PARTE;

Y

MINERA PERICONES, S.A. DE C.V. sociedad mercantil debidamente constituida conforme a la Ley General de Sociedades Mercantiles, con domicilio en Calle La Salle, No.3230 Fraccionamiento Lomas La Salle C.P. 31214, Chihuahua, Chihuahua,  representada en el presente acto por el SR. JOSE ABRAHAM URIAS ROMERO en su carácter de Representante Legal de dicha sociedad (denominada en lo sucesivo, la  “Compañía”),

POR LA SEGUNDA PARTE.

El presente Convenio es celebrado en conformidad con las leyes de los Estados Unidos Mexicanos y, específicamente, en conformidad con las disposiciones aplicables de la Ley Minera y su Reglamento, el Código Civil Federal y el Código Civil para el Estado de México. 

DECLARACIONES

I.

Titular declara a la Compañía que: 

A.

Que es el único y exclusivo acreedor de los derechos de uso y posesión pacifica a titulo de dueño del bien inmueble con una superficie total de 7-56-00 hectáreas (en lo sucesivo, el “Lote de Terreno”) ubicado en el Aguacate Monte de Dios, Municipio de Tejupilco, Distrito Judicial de Temascaltepec, Estado de México, con las siguientes medidas y colindancias Norte 176 metros y colinda con una barranca; Sur 126 metros y colinda con Francisco Morales; Oriente 360 metros y colinda con Saturnino Secundino; Poniente 257 metros y colinda con Silvano Rafael; dicho bien inmueble fue adquirido por el Titular mediante contrato privado de compraventa celebrado con fecha del 30 de Agosto del 2003 con el Sr. Leoncio Secundino Morales, debidamente certificado por el Delegado Municipal del Aguacate Monte de Dios, Tejupilco, Estado de México; copia del Contrato de Compraventa y del Certificado No Gravamen (referido en adelante) se adjunta al presente como  Anexo “B”.

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B.

Conforme al Certificado de No Gravamen emitido el 03 de Junio de 2009 por el Registrador de la Propiedad y Comercio del Distrito Judicial de Temascaltepec, Estado de México,  El Lote de Terreno se encuentra, a la fecha de la firma del presente Convenio, libre y a salvo de (a) todo gravamen, carga o limitación de dominio alguno, (b) controversia judicial, acción legal o demanda de cualquier naturaleza, y (c) los efectos jurídicos de cualquier Convenio o acto jurídico que pudiera impedir, afectar o prohibir la celebración o cumplimiento de las obligaciones pactadas en el presente Convenio.

C.

Reconoce que la Compañía es la acreedora exclusiva de los derechos derivados de las concesiones mineras ubicadas en el Municipio de Tejupilco, Estado de Mexico, las cuales se describen en el Anexo “A” del presente Convenio (en lo sucesivo, las “Concesiones Mineras”) y que los Productos Minerales (según se definen adelante) que en su caso existan en el subsuelo de los lotes mineros amparados por las Concesiones Mineras son propiedad de la Compañía, conforme a la legislación minera vigente.

II.

La Compañía, a través de su representante, declara al Titular que:

A.

Es una sociedad anónima de capital variable debidamente constituida y en existencia en conformidad con la Ley General de Sociedades Mercantiles.  

B.

Posee la capacidad legal requerida por las leyes mexicanas para adquirir como titular concesiones mineras ubicadas dentro del territorio de la República Mexicana, en conformidad con el artículo 11 de la Ley Minera.  

C.

Los poderes y autoridad otorgados a la persona que comparece en su representación en el presente acto son suficientes para celebrar el presente Convenio en nombre y representación de la Compañía; y que dichos poderes y representación no han sido, a la fecha de la firma del presente instrumento, revocados o modificados en forma alguna.

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POR LO TANTO, en virtud de las declaraciones anteriores las partes comparecientes celebran el presente Convenio en conformidad con las siguientes cláusulas:    

1.

Ocupación.  El Titular en el presente acto otorga a la Compañía, y la Compañía adquiere del Titular, el derecho exclusivo de uso, aprovechamiento y ocupación sobre una superficial total del Lote de Terreno de 7-56-00 hectáreas (en lo sucesivo, el “Lote de Terreno en Ocupación”),  con el objeto de que la Compañía ejecute sobre dicho inmueble las Actividades Mineras (que se definen más adelante). La ubicación geográfica del Lote de Terreno en Ocupación se encuentra descrita en el Mapa adjunto al presente Contrato en anexo A. 

1.1.

La Compañía podrá reducir o modificar la extensión del Lote de Terreno en Ocupación mediante aviso por escrito al Titular, a fin de que la Compañía desarrolle las Actividades Mineras en cualquier área del Lote de Terreno. En dicho aviso, la Compañía entregará al Titular un mapa donde conste la ubicación geográfica de la reducción o modificación del Lote de Terreno en Ocupación y la modificación correspondiente a la Renta Anual a pagarse conforme a la Cláusula 5 del presente Convenio. 

2.

Actividades Mineras.  La Compañía podrá, durante la vigencia del presente Convenio, ejecutar las siguientes actividades sobre el Lote de Terreno  en Ocupación (las “Actividades Mineras”): todo trabajo u obra ejecutados con el propósito de: (a) identificar depósitos minerales y cuantificar las reserves mineras para determinar la factibilidad económica de su recuperación; (b) preparar y desarrollar el área que comprende el depósito mineral para recuperar y extraer productos minerales enumerados en el artículo 4 de la Ley Minera (en lo sucesivo, “Productos Minerales”); y (c) refinar, tratar, vender y mercadear Productos Minerales, incluyendo, sin limitar la generalidad de lo anterior las siguientes actividades:

(a)

el acceso y la constitución de servidumbres de paso,

(b)

utilizar, modificar o ampliar los caminos, veredas, mangas, callejones y otras vías de comunicación ya existentes en el Lote de Terreno en Ocupación a fin de transitar y transportar libremente personal, maquinaria, herramientas, Productos Minerales y  bienes de cualesquier especie,

(c)

la construcción de todo tipo de obras, edificaciones y demás trabajos de exploración, tales como reconocimientos geológicos, muestreo de rocas, suelo, sedimentos y minerales para realizar pruebas metalúrgicas; mapeo geológico y geofísico; construcción de zanjas y obras para el soporte de la operación de exploración; barrenación, desarrollos y perforaciones de cualquier clase; y la construcción de túneles, tiros y socavones,

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(d)

el aprovechamiento de las aguas y la obtención de concesiones de agua, incluyendo la instalación de tubería de agua o cables eléctricos y cualquier estructura o edificación elegidos para la conducción de agua o energía eléctrica,

(e)

construir, ampliar y desmantelar o desmontar campamentos, dormitorios, bodegas, almacenes, talleres, oficinas e instalaciones condecentes a las obras y trabajos de la Compañía,

(f)

construir plantillas de perforación y hacer perforaciones de todo tipo; mediciones y amojonamientos destinados a deslindar áreas o zonas dentro del Lote de Terreno en Ocupación;

(g)

la investigación de la factibilidad económica de minar Productos Minerales; la construcción de una mina en el Lote de Terreno en Ocupación; 

(h)

la construcción de una mina en cualquier porción del Lote de Terreno en Ocupación, 

(i)

el tratamiento, minado, remoción, recuperación, extracción y refinación de Productos Minerales,

(j)

la venta y mercadeo de los Productos Minerales,

(k)

la ejecución de cualquier actividad considerada por la Compañía como necesaria, apropiada o incidental a las actividades descritas anteriormente.

2.1.

Titular podrá continuar con sus actividades pecuarias dentro del área superficial que comprende  el Lote de Terreno en Ocupación, siempre y cuando la ejecución de dichas actividades no interfiera en forma alguna con la ejecución de las Actividades Mineras por parte de la Compañía. 

3.

Término.  El presente Convenio será vigente por un término de veinticinco (25) años que contará a partir de su firma y ratificación ante notario público por las partes (en lo sucesivo, el “Término del Convenio”).  El Término del Convenio será obligatorio para el Titular y discrecional para la Compañía. La Compañía podrá renunciar anticipadamente a sus derechos y terminar unilateralmente el presente Convenio mediante notificación escrita de terminación de Convenio notificada al Titular con treinta (30) días de anticipación 

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4.

Renta.  La Compañía pagará al Titular, durante la vigencia del presente Convenio, una renta anual de $5,000.00 (Cinco Mil Pesos 00/100 M. N.) por la superficie total que comprenda el Lote de Terreno en Ocupación (la “Renta Anual”).  La Renta Anual se pagará por adelantado, dentro de los primero diez (10) días hábiles de cada período de doce (12) meses. En conformidad con el artículo 58, párrafo 3, del Reglamento de la Ley Minera, la Renta Anual será ajustada anualmente con el índice de precios al consumidor aplicable al año anterior a la fecha de pago correspondiente.  

4.1.

La primera Renta Anual será pagada al Titular a la firma y ratificación ante notario público del presente Convenio, por el período de doce (12) meses posteriores a dicha firma. 

5.

Obligaciones de la Compañía.  La Compañía, sus trabajadores y contratistas deberán cumplir con las disposiciones impuestas por la legislación minera, laboral y en materia de protección al medio ambiente durante la ejecución de las Actividades Mineras sobre el Lote de Terreno en Ocupación.   

5.1.

La Compañía será responsables de cualquier sanción, multa o sentencia emitida por autoridad competente con respecto a cualquier acto realizado sobre el Lote de Terreno en Ocupación en violación o en contravención a la legislación minera, laboral y en materia de protección al medio ambiente. 

5.2.

La Compañía acuerda en indemnizar y proteger al Titular de cualquier pérdida, responsabilidad, acusación, demanda o multa que pudiera girarse o cuantificarse en contra del Titular con respecto a cualquier acto realizado por la Compañía, sus trabajadores y contratistas sobre el Lote de Terreno en Ocupación en violación o en contravención a la legislación minera, laboral y en materia de protección al medio ambiente, con posterioridad a la fecha de la firma del presente Convenio.    

5.3. 

La Compañía será responsable de solicitar y obtener de las autoridades competentes todos los permisos, autorizaciones, concesiones o resoluciones favorables (o de dar los avisos ordenados por la ley aplicable, en su caso) que la faculten para:

 

(a)

ejecutar las Actividades Minera sobre el Lote de Terreno en Ocupación,

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(b)

consumir o usar el agua, independientemente de su fuente, o desechar aguas residuales, en su caso,

(c)

usar, consumir, comprar o almacenar explosivos, en conformidad con la Ley General de Armas de Fuego y Explosivos.

5.4.

La Compañía deberá restaurar y rehabilitar cualquier pérdida o daño que pudiera causarse al suelo o subsuelo del área que comprende el Lote de Terreno en Ocupación como resultado de la ejecución y a la conclusión de las Actividades Mineras, según sea ordenado por la legislación aplicable en materia de protección al medio ambiente.  

5.5.

Una vez terminado el presente Convenio, la Compañía deberá, dentro de un término de dos años contado a partir de la fecha de dicha terminación, remover del Lote de Terreno en Ocupación todo bien mueble de su propiedad, incluyendo todo equipo, maquinaria, herramienta o aparato utilizado durante la ejecución o a la conclusión de las Actividades Mineras. 

6.

Obligaciones del Titular.  El Titular otorga a  la Compañía su anuencia o consentimiento más amplio conforme a derecho para que, de conformidad con la legislación aplicable, la Compañía solicite y obtenga de la Secretaría de Medio Ambiente y Recursos Naturales, o de cualquier otra autoridad competente, todos los permisos, autorizaciones o concesiones que se requieran por la legislación aplicable para que la Compañía pueda ejecutar las Actividades Mineras en el Lote de Terreno en Ocupación, incluyendo, sin limitar:  

(a)

la solicitud y aprobación del cambio de uso de suelo con fines mineros,

(b)

la solicitud y aprobación de la manifestación de impacto ambiental, 

(c)

la solicitud y aprobación de todos los permisos requeridos por ley para la perforación de pozos, 

(d)

la solicitud y aprobación de todos los permisos requeridos por ley para usar, consumir o aprovechar aguas subterráneas o bien superficiales que pertenezcan a la Nación o desechar aguas residuales, en su caso,

(e)

la solicitud y aprobación de todos los permisos requeridos por ley para usar, consumir, comprar o almacenar explosivos, en conformidad con la Ley General de Armas de Fuego y Explosivos.

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(f)

la solicitud y aprobación para que todos los permisos, licencias, concesiones o autorizaciones mencionados anteriormente se expidan a nombre de la Compañía sin necesidad de consentimiento adicional del Titular o de que la Compañía sea propietaria del suelo afectado.

6.1. 

Lo pactado en esta cláusula  será considerado como el consentimiento, anuencia, aprobación, permiso o autorización del Titular para todos los fines o propósitos arriba especificados; no se requerirá consentimiento, anuencia, aprobación, permiso o autorización adicional o diferente por parte del Titular. 

7. Acceso.  Las partes reconocen que las Actividades Mineras son por su naturaleza peligrosas, por lo tanto toda persona no relacionada con la Compañía requerirá de un permiso escrito por adelantado de la Compañía para introducirse y/o permanecer dentro de la superficie de Lote de Terreno que comprende el Lote de Terreno en Ocupación. 

7.1. 

La Compañía, sus consejeros, trabajadores, agentes o contratistas no serán responsables, y se mantendrán a paz y salvo, por algún daño, gasto, lesión o perjuicio incurrido a o por cualquier persona no relacionada con la Compañía que se introduzca al Lote de Terreno en Ocupación. 

7.2.

El  Titular ejecutará todo acto que sea necesario para proveer y mantener el acceso total por parte de la Compañía, sus representantes y contratistas al área que comprende el Lote de Terreno en Ocupación, en conformidad con lo pactado en el presente instrumento, incluyendo la remoción del Lote de Terreno en Ocupación, por cualquier medio legal, de cualquier persona u objeto que en la opinión de la Compañía se encuentre o se encontrara en el futuro restringiendo, limitando o impidiendo el desarrollo de las Actividades Mineras  en el área que comprende el Lote de Terreno en Ocupación.      

8.

Opción de Compra.  El Titular otorga a la Compañía, y la Compañía adquiere del Titular, durante la vigencia del presente Convenio, el derecho exclusivo e irrevocable, más no la obligación, de comprar toda o una porción del área que comprende el Lote de Terreno en Ocupación  (la “Opción de Compra”) mediante el pago al Titular del precio de compra que determine en forma independiente por el Instituto de Administración y Avalúos de Bienes Nacionales (el “INDAABIN”).

8.1

Si la Compañía optara por ejercer su derecho de Opción de Compra, ésta deberá notificarlo por escrito al Titular, adjuntando un original del avalúo correspondiente emitido por el INDAABIN y un mapa del área del Lote de Terreno en Ocupación que será objeto de la compra y venta (la “Notificación de Compra”). Una vez recibida la Notificación de Compra por el Titular, las partes deberán inmediatamente firmar un Contrato de Compraventa (la “Compraventa”) mediante el cual el Titular transmitirá a la Compañía, libres de todo gravamen y afectación alguna, los derechos de propiedad del área del Lote de Terreno de Ocupación señalada en la Notificación de Compra, mediante el pago al Titular del precio de compra establecido en el avalúo del INDAABIN. 

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9. 

Cesión.  La Compañía, sus sucesores o cesionarios, están autorizados por el Titular y tendrán el derecho de ceder o transmitir a otra persona física o moral, a su absoluta discreción, todos o parte de los derechos y/o obligaciones pactados en el presente Convenio. No se requiere del consentimiento adicional del Titular para ejercer los derechos otorgados en la presente cláusula. 

10.

Relación Legal.  Las partes actuarán de buena fe y cooperación con respecto a todo lo relacionado con el presente Convenio, en el entendido de que:

(a)

dicha relación no impondrá a ninguna de ellas ninguna obligación o responsabilidad adicionales a las pactadas en el presente Convenio.

(b)

el presente Convenio no deberá constituir o crear ninguna asociación o sociedad entre las partes,

(c)

ninguna de las partes tendrá autoridad para actuar o asumir ninguna obligación o responsabilidad en nombre, por cuenta o en representación de la otra parte, con excepción de lo estipulado en el presente instrumento. 

11.

El presente Convenio terminará por las siguientes causas:

(a)

la disolución y liquidación de la Compañía,

(b)

la conclusión del Término del Convenio, 

(c)

la adquisición por parte de la Compañía de los derechos de propiedad del Lote de Terreno en Ocupación; si la Compañía adquiere solamente una porción de dicha área, el presente Convenio continuará vigente por la superficie restante,

(d)

la notificación por parte de la Compañía al Titular del aviso de renuncia de derechos y terminación anticipada del presente Convenio en conformidad con la cláusula 3,

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(e)

la declaración mediante sentencia ejecutoriada de la nulidad, cancelación o terminación de los derechos derivados de todas las Concesiones Mineras,

(f)

el acuerdo por escrito de las partes.

12.

Derecho y Tribunales Aplicables.  El presente Convenio deberá ser interpretado y estará regulado por las disposiciones aplicables de la Ley Agraria, la Ley Minera y su Reglamento, el Código de Comercio y el Código Civil del Estado de México. Las partes se someten expresamente a la competencia de los tribunales estatales y federales con cede y competencia en la Ciudad de México, Distrito Federal, para el caso de conflicto o interpretación del presente Convenio o de lo no expresamente estipulado en el mismo, renunciando a la jurisdicción de cualquier otro juzgado, tribunal o corte, de cualquier naturaleza, a la que pudieran tener derecho en virtud de sus domicilios actuales o futuros, o en virtud de cualquier dispositivo legal que fuera o pudiera ser aplicable.

13.

Caso Fortuito o Fuerza Mayor.  La obligación de pago de la Renta Anual será suspendida cuando la ejecución de las Actividades Mineras sea interrumpida, impedida o retrasada por causa de fuerza mayor o caso fortuito. Dicha exigibilidad será suspendida durante el tiempo en que se encuentre existente la causa de fuerza mayor o caso fortuito. En caso de existencia de una causa de fuerza mayor o caso fortuito, los términos de pago de la obligación suspendida serán recorridos por el mismo número de días en los que exista la causa de fuerza mayor o caso fortuito. 

13.1.

Las partes reconocen como causas de fuerza mayor o caso fortuito las siguientes: todos los hechos naturales, fortuitos o del ser humano, como los terremotos, erupciones volcánicas, huracanes, incendios, inundaciones, tormentas, accidentes, sequías, derrumbes, motines, rebeliones, revoluciones, guerras, huelgas, privación ilegal de la libertad, actos de autoridad, imposibilidad u obstaculización de acceso al Lote de Terreno en Ocupación y, en general, cualquier otro hecho o acto ajeno a la voluntad de las partes que impida o retrase la ejecución de las Actividades Mineras.

13.2.

En caso de existencia de una causa de fuerza mayor o caso fortuito, la Compañía lo notificará al Titular a la brevedad razonablemente posible y le informará del término aproximado que durará la suspensión del pago de la respectiva Renta Anual. Una vez que desaparezca la causa de fuerza mayor o caso fortuito, la Compañía lo notificará al Titular y procederá a cumplir a la brevedad razonablemente posible con la obligación u obligaciones suspendidas.

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14.

Notificaciones. Todos los avisos o notificaciones que deban darse entre las partes como resultado de la aplicación del presente Convenio, incluyendo cualquier emplazamiento o notificación requerida dentro de un procedimiento judicial, deberán darse por escrito entregado personalmente o enviado por cualquier medio que asegure la recepción o notificación en forma fehaciente, y deberán ser dirigidos a las partes al domicilio que corresponda a su último domicilio manifestado para efectos de este Convenio, el cual hasta que no exista comunicación por escrito en contrario deberá entenderse que es el domicilio señalado en el proemio del presente Convenio. 

15.

Sucesores. El presente Convenio obliga y beneficia al Titular y a la Compañía, así como a sus sucesores y causahabientes.

16.

Acuerdo Total.  El presente Convenio y sus anexos que forman parte del mismo y los documentos que se notifiquen las partes en su conformidad, contienen el acuerdo total de las partes respecto a su objeto, por lo que el mismo cancela y deja sin efecto cualquier otro acuerdo, convenio o carta de intención, ya sea verbal o escrito, que hayan celebrado las partes con respecto a dicho objeto.

17.

Las partes firman el presente Contrato en los idiomas Español e Inglés; en caso de discrepancia entre las dos versiones, las versión en Español prevalecerá. Las partes reconocen haber obtenido el suficiente asesoramiento legal independiente y el haber leído y entendido (a través de sus respectivos intérpretes y asesores legales) los efectos legales y validez del presente Contrato en las versiones Español e Inglés. La versión en Inglés se anexa para referencia como Anexo C, el cual forma parte íntegra del mismo para todos los efectos legales que haya lugar.

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Leído que fue el presente Convenio a las partes que en él intervienen y enterados de su alcance y fuerza legal, lo firman para constancia en el lugar y fecha antes señalados.

EL TITULAR

               /s/ "Alicia Eusebio Secundino"                    _

SRA. ALICIA EUSEBIO SECUNDINO

POR SU PROPIO DERECHO

  

LA “COMPAÑÍA”

MINERA PERICONES, S.A. DE C.V.

                /s/ "Jose Abraham Urias Romero"                    _

SR. JOSE ABRAHAM URIAS ROMERO 

REPRESENTANTE LEGAL

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ANEXO “A”

CONCESIONES MINERAS Y 

MAPA  DE LAS CONCESIONES MINERAS Y 

LOTE DE TERRENO EN  OCUPACIÓN 

1.

Legal Description:

1.1.

Lote: Ampliación la Guera

1.2.

Número de Titulo: 230024

1.3.

Concesionario: Minera Pericones, S.A. de C.V.

1.4.

Recordation of Title: Book of Mining Concessions, Registration Number 44, Pages 22 , Volume 365 

1.5.

Ubicación: Tejupilco, México. 

1.6.

Terminación de vigencia 10/07/2007 al 09/07/2057

2.

Legal Description:

1.1.

Lote: La Güera

1.2.

Número de Titulo:227817

1.3.

Concesionario: Minera Pericones, S.A. de C.V.

1.4.

Recordation of Title: Book of Mining Concessions, Registration Number 357, Page 179, Volume 358. 

1.5.

Ubicación: Tejupilco, México

1.6.

Terminación de vigencia 10/08/2006 al 09/ 08/2056

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ANEXO “C”

VERSION EN INGLES

THIS LAND TEMPORARY OCCUPATION AGREEMENT is executed on this the 24th day of June, 2009 between:

ALICIA EUSEBIO SECUNDINO, acting in her own rights, a citizen of Mexico, of age, widow, having its domicile at Community at the Aguacate, Municipally of Tejupilco, México, (hereinafter referred to as the “Property Owner”),

OF THE FIRST PART;

AND:

MINERA PERICONES, S.A. DE C. V., a corporation duly incorporated pursuant to the Business Corporations Act (México), having its main corporate offices situated at La Salle, No.3230 Fraccionamiento Lomas La Salle C.P. 31214, Chihuahua, Chihuahua, herein represented by MR. JOSE ABRAHAM URIAS ROMERO, acting as its Legal Representative of the Company, (hereinafter referred to as the “Company”),

OF THE SECOND PART. 

This Agreement is executed pursuant to the laws of the United Mexican States and, in particular, in accordance with the applicable provisions of the Agrarian Act, the Mining Act and its Regulations, the Commercial Code and the Civil Code of the State of México.

 

WARRANTIES AND REPRESENTATIONS UNDER OATH

I.

The Property owner hereby warrants and represents to the Company as follows: 

A.

The Property Owner is the sole legal and beneficial holder of the ownership rights, use and peaceful rightful possession of a parcel of land with a surface area  of 7-56-00 hectares situated in the community of Aguacate Monte de Dios, Municipality of Tejupilco, Judicial District of Temascaltepec, State of Mexico, (the “Parcel of Land”) with the following metes and bounds: North 176 mts adjacent to cliff; South 126 mts adjacent to Francisco Morales; East 360 mts adjacent to Saturnino Secundino; West 257 mts adjacent to Silvano Rafael; the Parcel of Land was acquired by the Property Owner under Sale and Purchase Agreement executed on date August 30, 2003 with Mr. Leoncio Secundino  Morales, certified by authority Municipally Delegated of  Aguacate Monte de Dios, Tejupilco, State of  México; Copy of the Sale and Purchase Agreement and Certificated of Non-Encumbrance (referred to below) are attached se as Schedule B hereto and made part hereof.   

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B.

As evidenced on Certificate of Non-Encumbrance issued on June 3, 2009 by the Land ́s Registrar of Temascaltepec, Estado de Mexico, the Parcel of Land is, as of the date hereof, free and clear of (a) any charge, encumbrance or limitation or ownership whatsoever, (b) any judicial controversy, legal action or claim of any nature; and (c) free and clear of any agreement or juridical act which may impede, affect or prohibit the execution of this Agreement or the compliance with the obligations hereunder.   

C.

The Property Owner acknowledges Minerals (as hereinafter defined) contained in, on or unto the mining concessions situated in the Municipality of Tejupilco, State of Mexico, as described in Schedule “A” hereto, (the “Mining Concessions”)  are the property of the Company pursuant to applicable mining legislation. 

II.

The Company, through its legal representative, warrants and represents to the Property Owner as follows: 

A.

The Company is a limited liability corporation duly incorporated and validly subsisting pursuant to the Business Corporations Act (Mexico). 

B.

The Company possesses the legal capacity required by law to acquire as owner mining concessions located within the territory of Mexico, in accordance with S. 11 of the Mining Act. 

C.

The powers and authority granted to the Company ́s representative acting in its name hereunder are sufficient for the execution of this Agreement and said powers and Authority have not, as of this date, been revoked or amended in any manner whatsoever.

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NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual warranties and representations herein contained, the parties agree as follows:

    

1.

Occupation.  The Property Owner hereby grants to the Company, and the Company hereby acquires, the rights to use, enjoy and occupy a total land area of the Parcel of Land of 7-56-00 hectares (the “Land in Occupation”) to carry out the Mining Activities (as defined here-below).  

1.1. 

The Company shall have the right, during the term of this Agreement and on written notice to the Property Owner, to reduce or modify the extension of the Land in Occupation, so that the Company may carry out Mining Activities in any area of the Parcel of Land. On said notice, the Company shall deliver to the Property Owner a map describing the geographical location of the reduction or modification to the Land in Occupation and any adjustment to the Annual Rent to be paid pursuant to Clause 4 hereof. 

2. 

Mining Activities.  The Company may, during the term this Agreement is in full force and effect, carry out the following activities on the Land in Occupation (the “Mining Activities”): any and all works and activities carried out to (a) identify mineral deposits and to quantify mineral reserves to determine the economic feasibility of their recovery; (b) prepare and develop the area comprising the mineral deposit to recover and extract minerals described in s.4 of the Mining Act (“Minerals”) and (c) refine, treat, sell and market Minerals, including, without limitation: 

(a)

the  access and establishment of easements,

(b)

the use, change and rehabilitation of roads, paths or ways existing on the Land in Occupation in order to transport personnel, machinery, tools, Minerals or any other goods,

(c)

the construction of any building or structure, the execution of any exploration work such as, geological reconnaissance, sampling of rocks, soil, sediments and minerals, metallurgical testing, geological and geophysical mapping, trenching and other supporting exploration work, drilling and underground developments of any nature, construction of tunnels and other underground work,

(d)

the use of water and the acquisition of water rights concessions, including the installation of water pipelines, electricity cables and the construction of any structure or building intended for the conduction of water or electricity,

- 18 -

(e)

the construction, extension, setting up or dismantling of campsites, dorms, warehouses, shops, offices and facilities to carry out the activities of the Company,

(f)

the construction of drilling pads and drilling of any kind; surveys of any area within the Land in Occupation,

(g)

the evaluation of the economic feasibility to mine Minerals, 

(h)

mine construction on any portion of the Land in Occupation, 

(i)

the mining, removal, treatment, recovery, extraction and refining of Minerals,

(j)

the sale and marketing of Minerals, and

(k)

the execution of any additional activity deemed by the Company to be necessary, appropriate or incidental to the above.

2.1.

The Property Owner may continue with his agricultural activities within the area of the Land in Occupation, as long as the execution of such activities do not interfere in any manner whatsoever with the execution of the Mining Activities by the Company. 

3. 

Term.  This Agreement shall be in full force and effect for a term of Twenty-five (25) years commencing on the date of signing and notary public ratification by the parties (the “Term of the Agreement”). The Term of the Agreement shall be compulsory to the Property Owner and discretionary to the Company. The Company may relinquish its rights hereunder and terminate this Agreement at any time on Thirty (30) day prior written notice to the Property Owner.

4.

Rent.  The Company shall pay to the Property Owner, during the term of this Agreement, an annual rent of $5000.00 (Five Thousand Mexican Pesos) for a total land area comprising the Land in Occupation (the “Annual Rent”). The Annual Rent shall be paid in advance within the first ten (10) business days of each twelve month period. In accordance with article 58, paragraph 3, of the Mining Act Regulations, the Annual Rent shall be adjusted by the annual consumer ́s price index applicable to the year preceding the date of payment. 

4.1. 

The first Annual Rent shall be paid on the date of signing and notary public ratification of this Agreement, for the period of twelve (12) months following such signing. 

- 19 -

5.

Obligations of the Company.  The Company, its employees and independent contractors shall comply with all provisions imposed by mining, labour and environmental protection laws applicable to the execution of the Mining Activities on the Land in Occupation.   

5.1.

The Company shall bear the responsibility for any sanction, penalty or judgement assessed or awarded by a competent authority in relation to any act carried out on the Land in Occupation in violation of, or in contravention with, applicable mining, labour or environmental protection laws. 

5.2.

The Company shall indemnify and hold the Property Owner harmless from and against any loss, liability, claim, accusation, demand or penalty assessed or awarded against the Property Owner in respect to any act carried out by the Company, its employees and contractors on the Land in Occupation in violation of or in contravention with, mining, labour or environmental protection laws, following the date of signing of this Agreement.    

5.3.

The Company shall bear the responsibility to apply for and obtain from the competent authorities all permits, authorizations, concessions or favourable resolutions (and to issue a notice when required by law) to authorize the Company to:

(a)

carry out the Mining Activities on the Land in Occupation,

(b)

consume or use water, regardless of its source, or to discharge residual waters, as deemed required,

(c)

use, consume, purchase or store explosives, in accordance with the Federal Explosives and Firearms Act.

5.4.

The Company shall restore and rehabilitate any loss or damage that may be caused to the soil or subsoil of the surface area of the Land in Occupation as a result of the execution and at the conclusion of the Mining Activities, as mandated by laws applicable to the protection of the environment.  

5.5.

The Company shall, on termination of this Agreement and within a term of Two (2) years following the effective date of termination, remove from the Land in Occupation any and all movable property, including any equipment, machinery or device used during the execution or at the conclusion of the Mining Activities.

- 20 -

6.

Obligations of the Property Owner.  The Property Owner hereby grants to the Company its consent and authorization so that as required by applicable law the Company may apply for and obtain from the Secretariat of Environmental Protection and Natural Resources, or from any other competent authority, any and all permits, authorizations or concessions required by the Company to carry out the Mining Activities on the Land in Occupation, including, without limitation:  

(a)

the application and approval for change of use of soil to mining activities,

(b)

the application and approval of an environmental impact study, 

(c)

the application and approval of any permit required for drilling activities,

(d)

the application and approval of any permit required for use and consumption of National waters of whatever source or the discharge of residual water, if necessary,  

(e)

the application and approval of any permit required for the use, consumption, purchase or storage of explosives, in accordance with the Federal Explosives and Firearms Act,

(f)

the application and approval to have all permits, authorizations and concessions set out above issued in the name of the Company, without the additional consent of the Property Owner and notwithstanding that the Company is not the owner of the affected surface rights.

6.1. 

The provisions set forth above constitute the consent, approval, permit and authorization of the Property Owner for the purposes named herein; no additional consent, approval, permit or authorization from the Property Owner shall be required. 

7.

Access.  The parties acknowledge that execution of the Mining Activities is of a dangerous nature and, therefore, any person not related to the Company shall require a prior written consent from the Company to enter to and/or remain within the area comprising the Land in Occupation.

7.1. 

The Company, its directors, officers, employees, agents or contractors shall not be liable for any damage, expense, injury or harm incurred by or to any person not related to the Company while such person is on the Land in Occupation. 

- 21 -

7.2.

The Property Owner shall carry out all acts necessary to provide and maintain full access by the Company, its representatives and contractors to the Land in Occupation as agreed upon hereunder, including the removal by any legal means of any person or object that in the opinion of the Company is or will be restricting, limiting or impeding the full performance of the Mining Activities on the Land in Occupation.      

8. 

Option to Purchase. The Property Owner hereby grants to the Company, and the Company acquires from the Property Owner, during the term of this Agreement, the exclusive and irrevocable right, but not the obligation, to purchase all or any portion of the land area comprising the Land in Occupation  (the “Option to Purchase”) on payment to the Property Owner of the purchase price independently determined by the Institute for the Administration and Appraisal of National Assets (the “INDAABIN”).

8.1

On exercise of the Option to Purchase, the Company shall issue a written notice to the Property Owner, attaching an original of the appraisal issued by the INDAABIN and a map of the Land in Occupation showing the land area subject matter of the intended purchase (the “Notice to Purchase”). On receipt of the Notice to Purchase by the Property Owner, the parties shall forthwith sign a Sale and Purchase Agreement (the “Sale and Purchase Agreement”) whereby the Property Owner shall transfer to the Company, free and clear of any liens or limitation of ownership whatsoever, the ownership rights to the land area of the Land in Occupation set out in the Notice to Purchase, on payment to the Property Owner of the purchase price determined by the INDAABIN appraisal. 

9. 

Assignment.  The Company, its successors and assigns, shall be authorized by the Property Owner, and shall have the right, to assign or transfer to an individual or Corporation, at their own discretion, the whole or a portion of the rights and/or obligations agreed upon hereunder. No additional consent from the Property Owner shall be required to exercise the rights herein set out. 

10.

Relationship.  The parties shall act towards each other in good faith and co-operation in all matters connected herewith, provided that:

(a)

such relationship shall not impose upon either of them any duties or

liabilities whatsoever except in accordance with this Agreement,

(b)

this Agreement shall not be deemed to constitute or create a partnership between the parties, and

- 22 -

(c)

neither party shall have any authority to act for or to assume any obligation or responsibility on behalf, on account or in representation of the other party, except as provided herein. 

11.

This Agreement shall cease to be in full force and effect by:

(a)

the dissolution and liquidation of the Company,

(b)

the conclusion of the Term of the Agreement, 

(c)

the acquisition by the Company of the ownership rights to the Land in Occupation; if the Company acquires a portion of such land, this Agreement shall continue in full force and effect for the remaining land area,

(d)

the delivery by the Company to the Property Owner of the notice of relinquishment of rights and early termination of Agreement set out in Clause 3 hereof,

(e)

the final judicial judgment of annulment, cancellation or termination of the rights attached to the Mining Concessions,

(f)

the written agreement of the parties.

12.

Applicable Law and Tribunals.  This Agreement shall be governed by the provisions of the Agrarian Act, the Mining Act and its Regulations, the Code of Commerce and the Civil Code of the State of Mexico. The parties hereto agree that the state and federal tribunals with competent jurisdiction in and for the City of Mexico, D.F. shall have the authority to resolve any dispute, suit or claim arising under this Agreement. The parties hereby renounce to the jurisdiction of any other tribunal or court to whose jurisdiction they might have a right to by virtue of their current or future domiciles.

13.

Force Majeure.  The obligation of the Company to pay the Annual Rent shall be suspended when the execution of the Mining Activities is prevented, delayed or interrupted by an act of force majeure. Payment of the obligation shall be suspended for the duration of the act of force majeure. In case of force majeure, the term for payment of the suspended obligation(s) shall be advanced by the number of days of existence of the force majeure.  

 

13.1.

The parties acknowledge as acts of force majeure, the following: any act of God or human act, such as earthquakes, volcanic eruptions, hurricanes, fires, floods, storms, accidents, droughts, avalanches, uprisings, rebellions, revolutions, wars, strikes, illegal confinement, acts of authority, restrictions or impediment to access the Land in Occupation and, in general, any other act not related to the will of the parties that prevents or delays the execution of the Mining Activities.

- 23 -

13.2.

In the event of force majeure, the Company shall, as prompt as reasonably possible, deliver a notice to the Property Owner setting out the estimated period of suspension of payment of the Annual Rent. On disappearance of the force majeure, the Company shall notify the Property Owner accordingly and it shall, as prompt as reasonably possible, proceed with compliance of the suspended obligation(s).

14.

Notices.  Any notice or notification given or required to be given between the parties as a result of the application of this Agreement, including any notification required under judicial proceedings, shall be given in writing and personally delivered to the other party, or delivered by any way that assures undoubtedly its reception or notification and it shall be addressed to the latest domiciles set out by the parties under this Agreement, which domiciles are, until further notice is given, the domiciles of the parties described in page 1 of this Agreement. 

15.

Successors and Assigns.  This Agreement is binding upon, and inures to the benefit of the Property Owner, the Company and their respective successors and assigns.

16.

Whole Agreement.  This Agreement, its schedules and the documents delivered as set forth hereunder, constitute the entire understanding of the parties in respect to the subject matter hereof, and they cancel and supersede any other agreement, contract or letter of intent that they may have executed in respect to the said subject matter.

17.  Languages. This Agreement is approved in both the English and Spanish languages. The parties agree that in the event of discrepancy between the two versions, the Spanish version shall prevail. The parties acknowledge to having obtained sufficient independent legal advice and to having read and understood (through their respective appointed interpreters and legal counsel) the legal effects and validity of this Agreement in both the Spanish and English versions. The English version is attached as Schedule C hereto and made part hereof for all corresponding legal effects.

- 24 -

In witness whereof, the parties hereto after having read and understood the legal effects and validity of the premises set forth above, have caused this Agreement to be executed on the date and place above written.

THE “PROPERTY OWNER”

       /s/ "Alicia Eusebio Secundino"              _

MRS.  ALICIA EUSEBIO SECUNDINO

IN HER OWN RIGHTS

  

THE “COMPANY”

MINERA PERICONES, S.A. DE C.V.

          /s/ "Jose Abraham Urias Romero"         

MR. JOSE ABRAHAM URIAS ROMERO

ITS: LEGAL REPRESENTATIVE 

- 11 -Energy Partners, Ltd. 2009 Long Term Incentive Plan.

 EXHIBIT 4.5 
 ENERGY PARTNERS, LTD. 
 2009 LONG TERM INCENTIVE PLAN

 1. Purpose. The purpose of the Energy Partners, Ltd. 2009 Long Term Incentive Plan (the
“Plan”) is to attract and retain directors, officers and other key employees for Energy Partners, Ltd., a Delaware corporation (the “Company”), and its Subsidiaries (as defined below) and to provide to such persons
incentives and rewards for superior performance. The Plan will be effective September 21, 2009 (the “Effective Date”). 
 2. Definitions. As used in the Plan, 
 “Appreciation
Right” means a right granted pursuant to Section 5 of this Plan, and shall include both Tandem Appreciation Rights and Free-Standing Appreciation Rights. 
 “Award” means a grant of Option Rights, Appreciation Rights, Deferred Shares, Performance Shares, Performance Units, Performance Awards, Restricted Stock Units, a grant or sale of
Restricted Shares or Bonus Stock. 
 “Base Price” means the price used as the basis for determining the Spread
upon the exercise of an Appreciation Right. 
 “Board” means the Board of Directors of the Company. 

“Change in Control” means the occurrence of any of the following events: 
 (i) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a
“Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 40% or more of either (x) the then outstanding shares of Common Stock of the Company (the “Outstanding Company
Stock”) or (y) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided,
however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change in Control: (A) any acquisition directly from the Company, (B) any acquisition by the Company, (C) any acquisition by any
employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (D) any acquisition by any corporation pursuant to a transaction that complies with clauses (A), (B) and
(C) of paragraph (iii) below; or 
 (ii) A majority of the members of the Board (the “Incumbent
Board”) is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members constituting the Board prior to the date of the appointment or election; or 
 (iii) Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of
the Company or an acquisition of assets of another corporation (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities who were the

  

 1 

 
beneficial owners, respectively, of the Outstanding Company Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or
indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the
corporation resulting from such Business Combination (including, without limitation, a corporation that as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more
subsidiaries) in substantially the same proportions to each other as their ownership, immediately prior to such Business Combination of the Outstanding Company Stock and Outstanding Company Voting Securities, as the case may be, (B) no Person
(excluding any employee benefit plan (or related trust) of the Company or the corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 40% or more of, respectively, the then outstanding shares of common stock
of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership results solely from ownership of the Company that existed
prior to the Business Combination and (C) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial
agreement, or of the action of the Board, providing for such Business Combination; or 
 (iv) Approval by the stockholders of
the Company of a complete liquidation or dissolution of the Company. 
 Notwithstanding the provisions of Section 14 and the foregoing
provisions of this definition of “Change in Control,” no Award subject to the Nonqualified Deferred Compensation Rules (a “409A Award”) shall become exercisable, or be settled or otherwise paid or distributed, pursuant to
the Plan or the applicable Award agreement governing such 409A Award as a result of a Change in Control unless the event constituting such Change in Control also constitutes a “change in the ownership or effective control” or “in the
ownership of a substantial portion of the assets” of the Company within the meaning of the Nonqualified Deferred Compensation Rules; provided, however, that, to the extent permitted under the Nonqualified Deferred Compensation Rules, the
time of exercise, payment or settlement of a 409A Award shall be accelerated, or payment shall be made under the Plan in respect of such Award, upon the occurrence of a Change in Control, as determined by the Committee in its discretion, to the
extent necessary to pay income, withholding, employment or other taxes imposed on such 409A Award. To the extent any 409A Award does not become exercisable or is not settled or otherwise payable upon a Change in Control as a result of the
limitations described in the preceding sentence, such 409A Award shall become exercisable or be settled or payable upon the earliest-occurring event that qualifies as a permissible time of distribution in respect of such 409A Award under the
Nonqualified Deferred Compensation Rules, the Plan and the terms of the agreement governing such 409A Award. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 “Committee” means the Compensation Committee of the Board and, to the extent the administration of the Plan has been assumed by the Board pursuant to Section 15 of the Plan, the Board. 
  

 2 

 “Common Stock” or “Shares” means the shares of common
stock, par value $0.001 per share, of the Company or any security into which such shares of common stock may be changed by reason of any transaction or event of the type referred to in Section 13 or 14 of the Plan. 
 “Date of Grant” means the date specified by the Committee on which the grant of an Award is effective. 
 “Deferral Period” means the period of time during which Deferred Shares are subject to deferral limitations under
Section 7 of this Plan. 
 “Deferred Shares” means the award made pursuant to Section 7 of this Plan
of the right to receive shares of Common Stock at the end of a specified Deferral Period. 
 “Exchange Act”
means the Securities Exchange Act of 1934, as amended from time to time, including rules thereunder and successor provisions and rules thereto. 
 “Free-Standing Appreciation Right” means an Appreciation Right granted pursuant to Section 5 of this Plan that is not granted in tandem with an Option Right. 
 “Incentive Stock Options” means Option Rights that are intended to qualify as “incentive stock options” under
Section 422 of the Code or any successor provision. 
 “Management Objectives” means the measurable
performance objective or objectives established, when so determined by the Committee, that are to be achieved with respect to an Award. Management Objectives may be described in terms of Company-wide objectives or objectives that are related to the
performance of the individual Participant or of the Subsidiary, division, department, region or function within the Company or Subsidiary in which the Participant is employed or on which the Participant’s efforts have the most influence. The
Management Objectives may be made relative to the performance of other corporations or businesses. 
 If the Committee
determines that a change in the business, operations, corporate structure or capital structure of the Company, or the manner in which it conducts its business, or other events or circumstances render the Management Objectives unsuitable, the
Committee may in its discretion modify such Management Objectives or the related minimum acceptable level of achievement, in whole or in part, as the Committee deems appropriate and equitable, except where such action would result in the loss of the
otherwise available exemption of the Award under Section 162(m) of the Code. In such case, the Committee will not make any modification of the Management Objectives or minimum acceptable level of achievement, in each such case to the extent it
would cause such a result. 
 “Market Value Per Share” means, as of any particular date, (i) the
closing sale price per share of Common Stock as reported on the principal securities exchange, association or quotation system on which the shares of Common Stock are then trading or, if there are no sales on such day, on the next preceding trading
day during which a sale occurred, or (ii) if clause (i) does not apply, the fair market value of a share of Common Stock as determined by the Committee. 
  

 3 

 “Nonqualified Deferred Compensation Rules” means the limitations or
requirements of Section 409A of the Code and the regulations promulgated thereunder. 
 “Option Price”
means the purchase price payable on exercise of an Option Right. 
 “Option Right” means the right to purchase
shares of Common Stock upon exercise of an option granted pursuant to Section 4 of the Plan. 
 “Participant” means a person who is selected by the Committee to receive an Award under the Plan and who is at the time a director, officer or other key employee of the Company or any one or more of its Subsidiaries.

 “Performance Award” means the grant, pursuant to Section 8(h) of the Plan, of an Award subject to
performance criteria specified by the Committee. 
 “Performance Period” means, in respect of a Performance
Award, Performance Share or Performance Unit, a period of time established pursuant to Section 8 of this Plan within which the Management Objectives or pre-established performance goals relating to such Performance Award, Performance Share or
Performance Unit are to be achieved. 
 “Performance Share” means a bookkeeping entry that records the
equivalent of one share of Common Stock awarded pursuant to Section 8 of this Plan. 
 “Performance Unit”
means a bookkeeping entry that records a unit equivalent to $1.00 (or such other value as the Committee determines) awarded pursuant to Section 8 of this Plan. 
 “Public Offering” means an underwritten public offering of the Company’s equity securities registered under the Securities Act of 1933, as amended, or any successor statute thereof,
and the rules and regulations promulgated thereunder, or such other event as a result of which outstanding equity securities of the Company (or any successor entity) are publicly traded. 
 “Restricted Shares” means shares of Common Stock granted or sold pursuant to Section 5 of the Plan as to which neither
the substantial risk of forfeiture nor the restrictions on transfers referred to therein have expired. 
 “Restricted
Stock Units” means an award pursuant to Section 9 of this Plan of the right to receive shares of Common Stock, cash or other consideration at the end of a specified Deferral Period. 
 “Rule 16b-3” means Rule 16b-3 under Section 16 of the Exchange Act (or any successor rule to the same effect), as in
effect from time to time. 
 “Securities Act” means the Securities Act of 1933 and the rules and regulations
promulgated thereunder, or any successor law, as it may be amended from time to time. 
 “Subsidiary” means a
corporation, company or other entity (i) more than 50% of whose outstanding shares or securities (representing the right to vote for the election of directors

  

 4 

 
or other managing authority) are, or (ii) which does not have outstanding shares or securities (as may be the case in a partnership, limited liability company, joint venture or
unincorporated association), but more than 50% of whose ownership interest representing the right generally to make decisions for such other entity is, now or hereafter, owned or controlled, directly or indirectly, by the Company except that for
purposes of determining whether any person may be a Participant for purposes of any grant of Incentive Stock Options, “Subsidiary” means any corporation in which at the time the Company owns or controls, directly or indirectly, more than
50% of the total combined voting power represented by all classes of stock issued by such corporation. 
 “Tandem
Appreciation Right” means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right. 
 “Ten Percent Employee” means an employee of the Company or any of its Subsidiaries who owns Common Stock possessing more than 10% of the total combined voting power of all classes of
stock of the Company or any of its Subsidiaries. 
 3. Shares Available Under the Plan. (a) Subject to
adjustment as provided in Section 3(b) and Section 13 of this Plan, the number of shares of Common Stock that may be issued or transferred (i) upon the exercise of Option Rights or Appreciation Rights, (ii) as Restricted Shares
and released from substantial risks of forfeiture thereof, (iii) as Deferred Shares, (iv) in payment of Performance Shares, Performance Units or Restricted Stock Units that have been earned shall not exceed in the aggregate 1,237,000
shares of Common Stock, plus any shares described in Section 3(b). Such shares may be shares of original issuance or treasury shares or a combination of the foregoing. 
 (b) The number of shares available in Section 3(a) above shall be adjusted to account for shares relating to awards that expire, are
forfeited or are transferred, surrendered or relinquished upon the payment of any Option Price by the transfer to the Company of shares of Common Stock or upon satisfaction of any withholding amount. Upon payment in cash of the benefit provided by
any award granted under this Plan, any shares that were covered by that award shall again be available for issuance or transfer hereunder. 
 (c) In each calendar year during any part of which this Plan is in effect, a “Covered Employee” (as defined within the meaning of Section 162(m) of the Code and regulations thereunder,
including Treasury Regulation §1.162-27 and successor regulations thereto) may not be granted (i) Awards (other than Awards designated to be paid only in cash or the settlement of which is not based on a number of shares of Common Stock)
relating to more than 400,000 shares of Common Stock, subject to adjustment in a manner consistent with any adjustment made pursuant to Section 13, and (ii) Awards designated to be paid only in cash, or the settlement of which is not based
on a number of shares of Common Stock, having a value determined on the date of grant in excess of $5,000,000.00. 
  

 5 

 4. Option Rights. The Committee may, from time to time and upon such terms and
conditions as it may determine, authorize grants to Participants of options to purchase shares of Common Stock. Each such grant may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following
provisions: 
 (a) Each grant will be evidenced by an agreement executed on behalf of the Company by an authorized officer and
delivered to the Participant and containing such terms and provisions, consistent with the Plan, as the Committee may approve. 
 (b) Option Rights granted under this Section 4 may be Incentive Stock Options, options that are not intended to be Incentive Stock Options, or combinations of the foregoing. Incentive Stock Options may be granted only to individuals
who are employees of the Company or a Subsidiary that is a “subsidiary corporation” within the meaning of Section 424 of the Code. 
 (c) Each grant will specify the number of shares of Common Stock to which it pertains. The Market Value Per Share of Common Stock subject to an Incentive Stock Option and the aggregate Market Value Per
Share of the Company’s Common Stock, or a Subsidiary’s common stock if that Subsidiary is considered a “subsidiary corporation” within the meaning of Section 424 of the Code, that is subject to any other Incentive Stock
Option that first becomes purchasable by a Participant in any calendar year may not, with respect to that Participant, exceed $100,000, or such other amount as may be prescribed under Section 422 of the Code or applicable regulations or rulings
from time to time. 
 (d) Each grant will specify the Option Price, which will not be less than 100% of the Market Value Per
Share on the Date of Grant. The Option Price of Incentive Stock Options issued to a Ten Percent Employee may not be less than 110% of the Market Value Per Share on the Date of Grant. 
 (e) Each grant will specify the period or periods of continuous service by the Participant with the Company or any Subsidiary that are
necessary before the Option Rights or installments thereof will become exercisable. 
 (f) Any grant may provide for the earlier
exercise of the Stock Options in the event of a Change in Control of the Company. 
 (g) Each grant will specify whether the
Option Price will be payable (i) in cash or by check acceptable to the Company, (ii) by the actual or constructive transfer to the Company of shares of Common Stock owned by the Participant for at least six months (or, with the consent of
the Committee, for less than six months) having an aggregate Market Value Per Share at the date of exercise equal to the aggregate Option Price, (iii) with the consent of the Committee, by authorizing the Company to withhold a number of shares
of Common Stock otherwise issuable to the Participant having an aggregate Market Value Per Share on the date of exercise equal to the aggregate Option Price, or (iv) by a combination of such methods of payment; provided, however, that
the payment methods described in clauses (ii), (iii) and (iv) will not be available at any time that the Company is prohibited from purchasing or acquiring such shares of Common Stock. 
  

 6 

 (h) To the extent permitted by law, a grant may provide for deferred payment of the Option
Price from the proceeds of sale through a bank or broker of some or all of the shares to which such exercise relates. 
 (i)
Successive grants may be made to the same Participant whether or not any Option Rights previously granted to such Participant remain unexercised. 
 (j) A grant may specify Management Objectives that must be achieved as a condition to the exercise of such rights. 
 (k) No Option Right will be exercisable more than 10 years from the Date of Grant (five years with respect to Incentive Stock Options granted to a Ten Percent Employee). 
 (l) Any grant may provide for the effect on the Option Rights (or any shares of Common Stock issued with respect to the Option Rights) of
any conduct of the Participant determined by the Committee to be injurious, detrimental or prejudicial to any significant interest of the Company or any Subsidiary. 
 (m) For purposes of any provision in the Plan or an agreement evidencing a Participant’s award of Option Rights that relates to the effect on an Option Right of a Participant’s ceasing to
perform services for the Company or any Subsidiary, a termination of employment or other separation from service will occur when the Participant permanently ceases to perform services for the Company and all Subsidiaries or when the entity for which
the Participant is performing services ceases to be a Subsidiary, unless the Participant immediately becomes employed by the Company or another Subsidiary. 
 (n) The exercise of an Option Right shall result in the cancellation on a share-for-share basis of any Tandem Appreciation Right authorized under Section 5 of this Plan. 
 5. Appreciation Rights. (a) The Committee may authorize the granting (i) to any Participant, of Tandem Appreciation
Rights in respect of Option Rights granted hereunder, and (ii) to any Participant, of Free-Standing Appreciation Rights. A Tandem Appreciation Right shall be a right of the Participant, exercisable by surrender of the related Option Right, to
receive from the Company an amount determined by the Committee, which shall be expressed as a percentage of the Spread (not exceeding 100%) at the time of exercise. Tandem Appreciation Rights may be granted at any time prior to the exercise or
termination of the related Option Rights; provided, however, that a Tandem Appreciation Right awarded in relation to an Incentive Stock Option must be granted concurrently with such Incentive Stock Option. A Free-Standing Appreciation Right
shall be a right of the Participant to receive from the Company an amount determined by the Committee, which shall be expressed as a percentage of the Spread (not exceeding 100%) at the time of exercise. 
 (b) Each grant of Appreciation Rights may utilize any or all of the authorizations, and shall be subject to all of the requirements,
contained in the following provisions: 
 (i) Any grant may specify that the amount payable on exercise of an Appreciation
Right may be paid by the Company in cash, in shares of Common Stock or in any

  

 7 

 
combination thereof and may either grant to the Participant or retain in the Committee the right to elect among those alternatives. 
 (ii) Any grant may specify that the amount payable on exercise of an Appreciation Right may not exceed a maximum specified by the Committee
at the Date of Grant. 
 (iii) Any grant may specify waiting periods before exercise and permissible exercise dates or periods.

 (iv) Any grant may specify that such Appreciation Right may be exercised only in the event of, or earlier in the event of, a
Change in Control. 
 (v) Any grant may provide for the payment to the Participant of dividend equivalents thereon in cash or
shares of Common Stock on a current, deferred or contingent basis. 
 (vi) Any grant of Appreciation Rights may specify
Management Objectives that must be achieved as a condition of the exercise of such Appreciation Rights. 
 (vii) Each grant of
Appreciation Rights shall be evidenced by an agreement executed on behalf of the Company by an officer and delivered to and accepted by the Participant, which agreement shall describe such Appreciation Rights, identify the related Option Rights (if
applicable), state that such Appreciation Rights are subject to all the terms and conditions of this Plan, and contain such other terms and provisions, consistent with this Plan, as the Committee may approve. 
 (c) Any grant of Tandem Appreciation Rights shall provide that such Tandem Appreciation Rights may be exercised only at a time when the
related Option Right is also exercisable and at a time when the Spread is positive, and by surrender of the related Option Right for cancellation. 
 (d) Regarding Free-Standing Appreciation Rights only: 
 (i) Each grant shall
specify in respect of each Free-Standing Appreciation Right a Base Price, which shall be equal to or greater or less than the Market Value Per Share on the Date of Grant; 
 (ii) Successive grants may be made to the same Participant regardless of whether any Free-Standing Appreciation Rights previously granted
to the Participant remain unexercised; and 
 (iii) No Free-Standing Appreciation Right granted under this Plan may be
exercised more than 10 years from the Date of Grant. 
 6. Restricted Shares. The Committee may, from time to time
and upon such terms and conditions as it may determine, authorize the grant or sale of Restricted Shares to Participants. Each such grant or sale will constitute an immediate transfer of the ownership of shares of Common Stock to the Participant in
consideration of the performance of services,

  

 8 

 
entitling such Participant to voting and other ownership rights, but subject to the restrictions set forth in this Section 6. Each such grant or sale may utilize any or all of the
authorizations, and will be subject to all of the requirements, contained in the following provisions: 
 (a) Each grant or sale
of Restricted Shares will be evidenced by an agreement executed on behalf of the Company by an authorized officer and delivered to the Participant and will contain such terms and provisions, consistent with the Plan, as the Committee may approve.

 (b) Each such grant or sale may be made without additional consideration, in consideration of a payment by the Participant
that is less than Market Value Per Share at the Date of Grant or in consideration of services rendered to the Company or a Subsidiary, except as may otherwise be required by the Delaware General Corporation Law. 
 (c) Each such grant or sale will provide that the Restricted Shares covered by such grant or sale will be subject to a “substantial
risk of forfeiture” within the meaning of Section 83 of the Code for a period to be determined by the Committee at the Date of Grant. 
 (d) Each such grant or sale will provide that during the period for which such substantial risk of forfeiture is to continue, the transferability of the Restricted Shares will be prohibited or restricted
in the manner and to the extent prescribed by the Committee at the Date of Grant (which restrictions may include, without limitation, rights of repurchase or first refusal in the Company or provisions subjecting the Restricted Shares to a continuing
substantial risk of forfeiture in the hands of any transferee). 
 (e) Any grant or sale may provide for the early termination
of any such restrictions in the event of a Change in Control of the Company. 
 (f) Any grant of Restricted Shares may specify
Management Objectives that, if achieved, will result in termination or early termination of the restrictions applicable to such shares. Each grant may specify in respect of such Management Objectives a minimum acceptable level of achievement and may
set forth a formula for determining the number of Restricted Shares on which restrictions will terminate if performance is at or above the minimum level, but falls short of full achievement of the specified Management Objectives. 
 (g) Any such grant or sale of Restricted Shares may require that any or all dividends or other distributions paid thereon during the period
of such restrictions be automatically deferred and reinvested in additional Restricted Shares, which may be subject to the same restrictions as the underlying award. 
 (h) Unless otherwise directed by the Committee, all certificates representing Restricted Shares will be held in custody by the Company until all restrictions thereon have lapsed. 
  

 9 

 7. Deferred Shares. The Committee may also authorize the granting or sale of
Deferred Shares to Participants. Each such grant or sale may utilize any or all of the authorizations, and shall be subject to all of the requirements, contained in the following provisions: 
 (a) Each such grant or sale shall constitute the agreement by the Company to deliver shares of Common Stock to the Participant in the future
in consideration of the performance of services, but subject to the fulfillment of such conditions during the Deferral Period as the Committee may specify. 
 (b) Each such grant or sale may be made without additional consideration or in consideration of a payment by such Participant that is less than the Market Value Per Share at the Date of Grant. 

(c) Each such grant or sale shall be subject to a Deferral Period, as determined by the Committee at the Date of Grant, and may provide
for the lapse or other modification of such Deferral Period in the event of a Change in Control. 
 (d) During the Deferral
Period, the Participant shall have no right to transfer any rights under his or her award and shall have no rights of ownership in the Deferred Shares and shall have no right to vote them, but the Committee may, at or after the Date of Grant,
authorize the payment of dividend equivalents on such Shares on either a current or deferred or contingent basis, either in cash or in additional shares of Common Stock. 
 (e) Each grant or sale of Deferred Shares shall be evidenced by an agreement executed on behalf of the Company by any officer and delivered to and accepted by the Participant and shall contain such terms
and provisions, consistent with this Plan, as the Committee may approve. 
 8. Performance Shares, Performance Units and
Performance Awards. The Committee may also authorize the granting of Performance Shares and Performance Units that will become payable to a Participant upon achievement of specified Management Objectives. Each such grant may utilize any or
all of the authorizations, and shall be subject to all of the requirements, contained in the following provisions: 
 (a) Each
grant shall specify the number of Performance Shares or Performance Units to which it pertains, which number may be subject to adjustment to reflect changes in compensation or other factors. 
 (b) The Performance Period with respect to each Performance Share or Performance Unit shall be such period of time (not less than
12 months, except in the event of a Change in Control, if the Committee shall so determine) commencing with the Date of Grant as shall be determined by the Committee on the Date of Grant. 
 (c) Any grant of Performance Shares or Performance Units shall specify Management Objectives which, if achieved, will result in payment or
early payment of the award, and each grant may specify in respect of such specified Management Objectives a minimum acceptable level of achievement and shall set forth a formula for determining the

  

 10 

 
number of Performance Shares or Performance Units that will be earned if performance is at or above the minimum level, but falls short of full achievement of the specified Management Objectives.
The grant of Performance Shares or Performance Units shall specify that, before the Performance Shares or Performance Units shall be earned and paid, the Committee must certify that the Management Objectives have been satisfied. 
 (d) Each grant shall specify the time and manner of payment of Performance Shares or Performance Units that have been earned. Any grant may
specify that the amount payable with respect thereto may be paid by the Company in cash, in shares of Common Stock or in any combination thereof and may either grant to the Participant or retain in the Committee the right to elect among those
alternatives. 
 (e) Any grant of Performance Shares may specify that the amount payable with respect thereto may not exceed a
maximum specified by the Committee at the Date of Grant. Any grant of Performance Units may specify that the amount payable or the number of shares of Common Stock issued with respect thereto may not exceed maximums specified by the Committee at the
Date of Grant. 
 (f) The Committee may, at or after the Date of Grant of Performance Shares, provide for the payment of
dividend equivalents to the holder thereof on either a current or deferred or contingent basis, either in cash or in additional shares of Common Stock. 
 (g) Each grant of Performance Shares or Performance Units shall be evidenced by an agreement executed on behalf of the Company by any officer and delivered to and accepted by the Participant, which
agreement shall state that such Performance Shares or Performance Units are subject to all the terms and conditions of this Plan, and contain such other terms and provisions, consistent with this Plan, as the Committee may approve. 
 (h) Regarding Performance Awards Granted to Designated Covered Employees only: if the Committee determines that a Performance Award to be
granted to any Participant who is designated by the Committee as likely to be a Covered Employee should qualify as “performance-based compensation” for purposes of Section 162(m) of the Code, the grant, exercise and/or settlement of
such Performance Award may be contingent upon such Participant’s achievement of pre-established performance goals and other terms set forth in this Subsection 8(h). 
 (i) Performance Goals Generally. The performance goals for such Performance Award shall consist of one or more business criteria or individual performance criteria and one or more targeted levels
of performance with respect to each of such criteria, as specified by the Committee consistent with this Subsection 8(h). Performance goals shall be objective and shall otherwise meet the requirements of Section 162(m) of the Code and
regulations thereunder (including Treasury Regulation §1.162-27 and successor regulations thereto), including the requirement that the level or levels of performance targeted by the Committee result in the achievement of performance goals being
“substantially uncertain.” The Committee may determine that such Performance Awards shall be granted, exercised, and/or settled upon achievement of any one performance goal or that two or more of the performance goals must be achieved as a
condition to grant, exercise and/or settlement of such Performance Award. Performance goals may differ for Performance Award granted to any one Participant or to different Participants. 
  

 11 

 (ii) Business and Individual Performance Criteria. 
 (A) Business Criteria. One or more of the following business criteria for the Company, on a consolidated basis, and/or for specified
Subsidiaries or business or geographical units of the Company (except with respect to the total stockholder return criteria), shall be used by the Committee in establishing performance goals for such Performance Awards: (1) earnings per Share;
(2) revenues, (3) increase in revenues; (4) increase in cash flow; (5) increase in cash flow return; (6) return on net assets; (7) return on assets; (8) return on investment; (9) return on capital;
(10) return on equity; (11) economic value added; (12) operating margin; (13) contribution margin; (14) net income before taxes; (15) net income after taxes; (16) pretax earnings; (17) pretax earnings before
interest, depreciation and amortization; (18) pretax operating earnings after interest expense and before incentives, service fees, and extraordinary or special items; (19) total stockholder return; (20) debt reduction;
(21) market share; (22) change in the Market Value Per Share of the Common Stock; and (23) any of the above goals determined on an absolute or relative basis or as compared to the performance of a published or special index deemed
applicable by the Committee including, but not limited to, the Standard & Poor’s 500 Stock Index or a group of comparable companies. 
 (B) Individual Performance Criteria. The grant, exercise and/or settlement of Performance Awards may also be contingent upon individual performance goals established by the Committee. If required
for compliance with Section 162(m) of the Code, such criteria shall be approved by the stockholders of the Company. 
 (iii) Performance Period; Timing for Establishing Performance Goals. Achievement of performance goals in respect of such Performance Awards shall be measured over a performance period of up to ten years, as specified by the
Committee. Performance goals shall be established not later than 90 days after the beginning of any performance period applicable to such Performance Awards, or at such other date as may be required or permitted for “performance-based
compensation” under Section 162(m) of the Code. 
 (iv) Performance Award Pool. The Committee may establish a
pool (the “Performance Award Pool”), which shall be an unfunded pool, for the purpose of measuring the Company’s performance in connection with Performance Awards. The amount of such Performance Award Pool shall be based upon
the Company’s achievement of one or more performance goals based on the criteria set forth in Subsection 8(h)(ii) hereof during any given performance period, as specified by the Committee in accordance with Subsection 8(h)(iii) hereof. The
Committee may specify the amount of the Performance Award Pool as a percentage of any of such criteria, a percentage thereof in excess of a threshold amount, or any other amount which need not bear a strictly mathematical relationship to such
criteria. 
 (v) Settlement of Performance Awards; Other Terms. After the end of each performance period, the Committee
shall determine (A) the amount, if any, of the Performance Award Pool and the maximum amount of the potential Performance Awards payable to each Participant thereunder, or (B) the amount of the potential Performance Awards

  

 12 

 
otherwise payable to each Participant. Settlement of such Performance Awards shall be in cash, Common Stock, or other Awards or property in the discretion of the Committee. The Committee may, in
its discretion, reduce the amount of a settlement otherwise to be made in connection with such Performance Awards, but may not increase any amount payable to a Covered Employee as a Performance Award pursuant to this Subsection 8(h). The Committee
shall specify the circumstances in which such Performance Awards shall be paid or forfeited in the event of a termination of Participant’s employment by such Participant prior to the end of a performance period or the settlement of Performance
Awards related to a performance period. 
 (vi) Written Determinations. With respect to any Award intended to qualify
under Section 162(m) of the Code, all determinations by the Committee regarding (A) the establishment of performance goals, (B) the amount of any Performance Award Pool or potential individual Performance Awards, or (C) the
achievement of performance goals relating to Performance Awards shall be made in writing. The Committee may not delegate to any other person any of its responsibilities relating to such Performance Awards. 
 (vii) Status of Subsection 8(h) under Section 162(m) of the Code. It is the intent of the Company that any Performance Awards
granted under Subsection 8(h) hereof to mean any person who is designated by the Committee as likely to be “Covered Employee” within the meaning of Section 162(m) of the Code and the regulations thereunder (including Treasury
Regulation §1.162-27 and the successor regulations thereto) shall, if the person is so designated by the Committee, constitute “performance-based compensation” within the meaning of Section 162(m) of the Code and the regulations
thereunder. Accordingly, the terms of Subsection 8(h), including the definitions of “Covered Employee” and the other terms used therein shall be interpreted in a manner consistent with Section 162(m) of the Code and the regulations
thereunder. Notwithstanding anything in the foregoing to the contrary, because the Committee cannot determine with certainty whether a given Participant will be a Covered Employee with respect to a fiscal year that has not yet been completed, the
term “Covered Employee” as used herein shall mean only a person designated by the Committee, as of the time of any grant of Performance Awards during any fiscal year, who is likely to be deemed to be a Covered Employee with respect to such
fiscal year. If any provision of this Plan as in effect on the date of adoption or any agreements relating to Performance Awards that are designated as intended to comply with Section 162(m) of the Code does not comply or is inconsistent with
the requirements of Section 162(m) of the Code or regulations thereunder, such provision shall be construed or deemed amended to the extent necessary to conform to such requirements. 
 9. Restricted Stock Units. The Committee may also from time to time authorize grants or sales to any Participant of Restricted
Stock Units upon such terms and conditions as it may determine in accordance with this Section 9. Each grant or sale will constitute the agreement by the Company or a Subsidiary to deliver shares of Common Stock, cash or other consideration to
the Participant in the future in consideration of the performance of services, subject to the fulfillment during the Deferral Period of such conditions as the Committee may specify. Each such grant or sale may utilize any or all of the
authorizations, and will be subject to all of the requirements, contained in the following provisions: 
 (a) Each grant or sale
may be made without additional consideration from the Participant or in consideration of a payment by the Participant that is less than the Market Value Per Share on the Date of Grant, except as may otherwise be required by the Delaware General
Corporation Law or other applicable law. 
  

 13 

 (b) Each grant or sale will provide that the Restricted Stock Units will be subject to a
Deferral Period, which will be fixed by the Committee on the Date of Grant. 
 (c) Any grant or sale may specify the Management
Objectives that, if achieved, will result in the termination or early termination of the Deferral Period, provided that the Performance Period associated with such Management Objectives will be a period of no less than 12 calendar months.

 (d) Any grant or sale may provide for the earlier termination of the Deferral Period in the event of a Change in Control or
other similar transaction or event or the Participant’s termination of employment or service by reason of death, disability, retirement or otherwise. 
 (e) During the Deferral Period, the Participant will not have any right to transfer any rights under the Restricted Stock Units, and will not have any rights of ownership in or any right to vote any
shares of Common Stock that may be issued in settlement of Restricted Stock Units, but the Committee may on or after the Date of Grant authorize the payment of dividend equivalents on such shares in cash or Common Stock on a current, deferred or
contingent basis. 
 (f) Any grant or sale may provide for the effect on the Restricted Stock Units or any shares of Common
Stock issued free of restrictions, or other payment made, with respect to the Restricted Stock Units of any conduct of the Participant determined by the Committee to be injurious, detrimental or prejudicial to any significant interest of the Company
or any Subsidiary. 
 (g) Each grant or sale will be evidenced by an agreement executed on behalf of the Company by any officer
and delivered to and accepted by the Participant, which will contain such terms and provisions as the Committee may determine consistent with the Plan, including without limitation provisions relating to the Participant’s termination of
employment or other termination of service by reason of retirement, death, disability or otherwise. 
  

 14 

 10. Bonus Stock and Awards in Lieu of Obligations. The Committee is authorized
to grant Common Stock to Participants as a bonus, or to grant Common Stock or other Awards in lieu of obligations to pay cash or deliver other property under this Plan or under other plans or compensatory arrangements, provided that in the case of
Participants subject to Section 16 of the Exchange Act, the amount of such grants remains within the discretion of the Committee to the extent necessary to ensure that acquisitions of Common Stock or other Awards are exempt from liability under
Section 16(b) of the Exchange Act. Any Common Stock or Awards granted hereunder shall be subject to such other terms as shall be determined by the Committee. In the case of any grant of Common Stock to any officer of the Company or Subsidiary
thereof in lieu of salary or other cash compensation, the number of Shares granted in place of such salary or cash compensation shall be reasonable (as determined by the Committee). 
 11. Transferability. (a) Except as otherwise determined by the Committee, no Award or other derivative security granted
under the Plan will be transferable by a Participant other than by will or the laws of descent and distribution. Except as otherwise determined by the Committee, Option Rights will be exercisable during the Participant’s lifetime only by the
Participant or by the Participant’s guardian or legal representative. 
 (b) The Committee may specify at the Date of Grant
that part or all of the shares of Common Stock that are (i) to be issued or transferred by the Company upon the exercise of Option Rights or Appreciation Rights, upon termination of the Deferral Period applicable to Deferred Shares or upon
payment under any grant of Performance Shares, Performance Units, Performance Awards, or Restricted Stock Units, or (ii) no longer subject to the substantial risk of forfeiture and restrictions on transfer referred to in Section 6 of the
Plan, will be subject to further restrictions on transfer. 
 (c) Notwithstanding anything in this Section 11 to the
contrary, a Participant may transfer all, but not less than all, of any Award granted to such Participant under the Plan based upon such Participant’s service as a non-employee director of the Board; provided, however, that such
Participant may only transfer such Award to the institutional investor that (i) has designated such Participant to serve as a non-employee director of the Board pursuant to any agreement to which the Corporation is a party and
(ii) requires any individual serving as its designate to the Board to transfer all compensation based upon such individual’s service on the Board to such institutional investor. 
 12. Company’s Repurchase Right. 
 (a) Subject to the terms of this Section 12, upon the occurrence of any Repurchase Event (as defined herein) the Company will have the right (unless waived by the Company in an agreement evidencing a
Participant’s Award) to repurchase all or any portion of the shares of Common Stock issued as Restricted Shares or all or any portion of the shares of Common Stock issued to a Participant under this Plan (the “Shares”). The
repurchase right may be exercised by the Company at any time following the date of a Repurchase Event by giving the holder of the Shares written notice of its intention to exercise such right; provided, however, that the Company may not
exercise such repurchase right until the holder has held the Shares for at least 183 days. The purchase price per share will be the Market Value Per Share on the date of such notice; provided, however, that if the Participant’s
employment with the Company is terminated for cause, the purchase price per share will be the lesser of the Market Value Per Share on the date of such notice or the purchase price per share paid by the Participant. 
  

 15 

 (b) Within 30 days following the date of delivery by the Company of a written notice of its
election to exercise its repurchase right pursuant to this Section 12, the Company will pay to the Participant or other holder of the Shares the full amount of the purchase price, if any, in cash, and the Participant or holder will deliver to
the Company the stock certificate or certificates representing the Shares being purchased, duly endorsed and free and clear of any and all liens, charges and encumbrances. 
 (c) For purposes of the Plan, “Repurchase Event” means (i) the termination of the Participant’s employment with
the Company and its Subsidiaries for any reason whatsoever, regardless of the circumstances thereof, and including without limitation death, disability, retirement, discharge or resignation for any reason, whether voluntary or involuntary;
(ii) the filing of a voluntary petition under any bankruptcy or insolvency law, or a petition for the appointment of a receiver or the making of an assignment for the benefit of creditors, with respect to the Participant or other holder of the
Shares, (iii) the Participant or other holder of Shares being subjected involuntarily to a petition or assignment or to an attachment or other legal or equitable interest with respect to his or her assets, which involuntary petition or
assignment or attachment is not discharged within 60 days after its date; or (iv) the Participant or other holder being subject to a transfer of Shares by operation of law. 
 (d) If any change in the Common Stock occurs as a result of any transaction or event described in Section 13 of the Plan, the
restrictions contained in this Section 12 will apply with equal force to additional and/or substitute securities, if any, received by the Participant in exchange for, or by virtue of his or her ownership of, the Shares. 
 (e) If the Participant or holder fails or refuses to deliver on a timely basis duly endorsed certificates representing Shares purchased by
the Company pursuant to this Section 12, the Company will have the right to deposit the purchase price for such Shares in a special account with any bank or trust company, giving notice of such deposit to the Participant or holder, whereupon
(i) such Shares will be deemed to have been purchased by the Company and (ii) the Company will make an appropriate notation on its books and records reflecting such repurchase and may place stop-transfer or similar instructions with
respect to such Shares with any transfer agent for the Common Stock. All such monies will be held by the bank or trust company for the benefit of the Participant or holder. All monies deposited with the bank or trust company but remaining unclaimed
for two years after the date of deposit will be repaid by the bank or trust company to the Company on demand and become general funds of the Company, and the Participant or holder will thereafter look only to the Company for payment. 
 (f) The repurchase right of the Company set forth above will not be effective at any time the Shares subject to this Plan are required to be
registered under Section 12 of the Exchange Act. If the repurchase right of the Company is in effect, it will be binding upon any transferee of Shares. The Company may place a legend on any certificate for Shares delivered to the Participant
reflecting the repurchase rights provided in the Plan. 
  

 16 

 13. Adjustments. The Committee will make or provide for such adjustments in
the maximum number of shares specified in Section 3 and Section 4 of the Plan, in the numbers of shares of Common Stock covered by outstanding Option Rights granted hereunder, in the Option Price applicable to any Option Rights, and in the
kind of shares covered thereby, as the Committee, in its sole discretion, exercised in good faith, may determine is equitably required to maintain the intent of the Plan or to prevent dilution or enlargement of the rights of Participants that
otherwise would result from (a) any stock dividend, stock split, combination of shares, recapitalization or other change in the capital structure of the Company, or (b) any merger, consolidation, spin-off, split-off, spin-out, split-up,
reorganization, partial or complete liquidation or other distribution of assets, issuance of rights or warrants to purchase securities, or (c) any other corporate transaction or event having an effect similar to any of the foregoing. Moreover,
in the event of any such transaction or event, the Committee, in its discretion, may provide in substitution for any or all outstanding Awards such alternative consideration as it, in good faith, may determine to be equitable in the circumstances
and may require in connection therewith the surrender of all Awards so replaced. 
 14. Change in Control.

 (a) Upon a Change in Control the Committee, acting in its sole discretion without the consent or approval of any holder of an
Award, shall effect one or more of the following alternatives, which may vary among individual holders of Awards and among Option Rights, Appreciation Rights, Deferred Shares, Performance Shares, Performance Units, Performance Awards, Restricted
Stock Units, Restricted Shares or Bonus Stock, as applicable to such Award, (collectively “Grants”) held by any individual holder: (i) accelerate the time at which any Grants then outstanding may be exercised so that such
Grants may be exercised in full for a limited period of time on or before a specified date (before or after such Change in Control) fixed by the Committee, after which specified date all unexercised Grants and all rights of holders thereunder shall
terminate; (ii) require the mandatory surrender to the Company by selected holders of some or all of the outstanding Grants held by such holders (irrespective of whether such Grants are then exercisable under the provisions of this Plan) as of
a date specified by the Committee, before or after such Change in Control, in which event the Committee shall thereupon cancel such Grants and pay to each holder thereof an amount in cash per Share equal to the excess, if any, of the Change in
Control Price (as calculated pursuant to Subsection 14(b) below) of the Shares subject to such Grants over the exercise price(s) under such Grants for such Shares; (iii) make such adjustments (including conversion of the underlying security to
a successor security) to Grants then outstanding as the Committee deems appropriate to reflect such Change in Control; or (iv) remove any restrictions or portions thereof associated with such Grants; provided, however, that the Committee
may determine in its sole discretion that no adjustment is necessary to Grants then outstanding; provided further that the right to make such adjustments shall include, but not be limited to, the modification of any Grant such that the holder
of such Grant shall be entitled to purchase or receive (in lieu of the total Shares or other consideration that such holder would otherwise be entitled to purchase or receive under the Grant (the “Total Consideration”)), a number of
Shares of Common Stock, other securities, cash or property equal to the Total Consideration such holder would have been entitled to in connection with the Change in Control (A) (in the case of Options), at an aggregate exercise price equal to
the exercise price that would have been payable if the total number of Shares had been purchased upon the exercise of the Grant immediately before the consummation of the Change in Control and (B) (in the case of Appreciation Rights) if the
Appreciation Rights had been exercised immediately before the consummation of the Change in Control. 
  

 17 

 (b) Change in Control Price. For the purposes of Section 14(a), the
“Change in Control Price” shall be deemed to be the amount determined in clause (i), (ii), (iii), (iv) or (v), whichever is applicable, as follows: (i) the per Share price offered to holders of Common Stock in any merger
or consolidation; (ii) the per Share value of the Common Stock immediately before the consummation of a Change in Control without regard to assets sold in the Change in Control, and assuming the Company has received the consideration paid for
the assets in the case of any sale of the assets; (iii) the amount of consideration distributed per Share of Common Stock in any dissolution; (iv) the price per Share offered to holders of Common Stock in any tender offer or exchange offer
whereby a Change in Control takes place; or (v) if a Change in Control occurs other than pursuant to a transaction described in clauses (i), (ii), (iii), or (iv) of this Subsection 14(b), the Market Value Per Share of the Shares that may
otherwise be obtained with respect to such Grants or to which such Grants track, as determined by the Committee as of the date determined by the Committee to be the date of cancellation and surrender of such Grants. In the event that the
consideration offered to stockholders of the Company in any transaction described in this Section 14 consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration offered which
is other than cash. 
 (c) The provisions of this Section 14 shall be subject to the provisions of the final paragraph of
the definition of “Change in Control.” 
 15. Fractional Shares. The Company will not be required to
issue any fractional shares of Common Stock pursuant to the Plan. The Committee may provide for the elimination of fractions or for the settlement of fractions in cash. 
 16. Withholding Taxes. To the extent that the Company is required to withhold federal, state, local or foreign taxes in connection with any payment made or benefit realized by a Participant
or other person under the Plan, and the amounts available to the Company for such withholding are insufficient, it will be a condition to the receipt of such payment or the realization of such benefit that the Participant or such other person make
arrangements satisfactory to the Company for payment of the balance of such taxes required to be withheld. In addition, if permitted by the Committee, the Participant or such other person may elect to have any withholding obligation of the Company
satisfied with shares of Common Stock (valued at the Market Value Per Share at such time) that would otherwise be transferred to the Participant or such other person in payment or delivery of the Participant’s Award. In no event, however, will
shares of Common Stock be withheld in excess of the minimum number of shares required to satisfy the Company’s withholding obligation. 
  

 18 

 17. Administration of the Plan. (a) The Committee will consist of two or
more directors appointed by the Board, all of whom will qualify as “non-employee directors” as defined in Rule 16b-3 and as “outside directors” as defined in regulations adopted under Section 162(m) of the Code, as such
terms may be amended from time to time, and its size and members will otherwise satisfy applicable requirements of any exchange or market system upon which shares of Common Stock are listed or admitted to trading. 
 (b) The Committee has the full authority and discretion to administer the Plan and to take any action that is necessary or advisable in
connection with the administration of the Plan, including without limitation the authority and discretion to interpret and construe any provision of the Plan or of any agreement, notification or document evidencing the grant of an Award, and to
determine whether a Participant’s termination of employment resulted from voluntary resignation for good reason, discharge for cause or any other reason. The interpretation and construction by the Committee of any such provision and any
determination by the Committee pursuant to any provision of the Plan or of any such agreement, notification or document will be final and conclusive. No member of the Committee will be liable for any such action or determination made in good faith.

 (c) The Committee will act by a majority of the votes of its members in office and the Committee may act either by vote at a
meeting or by a memorandum or other written instrument signed by directors constituting a voting majority of the Committee. 
 18. Amendments, Etc. (a) The Plan may be amended from time to time by the Committee or the Board but may not be amended without further approval by the stockholders of the Company if such amendment would result in the
Plan no longer satisfying any applicable requirements of the New York Stock Exchange (or any other exchange or market system upon which shares of Common Stock are listed or quoted or admitted to trading), Rule 16b-3 or Section 162(m) of
the Code. 
 (b) Neither the Committee nor the Board will authorize the amendment of any outstanding Option Rights to reduce the
Option Price without the further approval of the stockholders of the Company. Furthermore, no Option Rights will be cancelled and replaced with Option Rights having a lower Option Price without further approval of the stockholders of the Company.
This Section 18(b) is intended to prohibit the repricing of “underwater” Option Rights and will not be construed to prohibit the adjustments provided for in Section 13 of the Plan. 
 (c) In case of termination of employment or termination of service by reason of death, disability or normal or early retirement, or in the
case of hardship or other special circumstances, of a Participant who holds an Option Right not immediately exercisable in full, or who holds Restricted Shares as to which the substantial risk of forfeiture or the prohibition on restriction has not
lapsed, or who holds shares of Common Stock subject to any transfer restriction imposed pursuant to Section 11(b) of the Plan, the Committee may, in its sole discretion: (i) accelerate the time at which such Option Right may be exercised,
(ii) accelerate the time at which such substantial risk of forfeiture or prohibition or restriction on transfer will lapse, (iii) accelerate the time when such transfer restriction will terminate, or (iv) waive any other limitation or
requirement under any such award. 
  

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 (d) The Plan does not confer upon any Participant any right with respect to continuance of
employment or other service with the Company or any Subsidiary, nor will it interfere in any way with any right the Company or any Subsidiary would otherwise have to terminate such Participant’s employment or other service at any time.

 (e) If the Committee determines, with the advice of legal counsel, that any provision of the Plan would prevent the payment
of any Award intended to qualify as performance-based compensation within the meaning of Section 162(m) of the Code from so qualifying, such Plan provision will be invalid and cease to have any effect without affecting the validity or
effectiveness of any other provision of the Plan. 
 (f) It is the Company’s intention that any Award granted under the
Plan will not constitute a deferral of compensation within the meaning of the Nonqualified Deferred Compensation Rules. In granting an Award, the Committee will use its best efforts to exercise its authority under the Plan with respect to the terms
of such Award in a manner that the Committee determines in good faith will not cause the Award to be subject to the Nonqualified Deferred Compensation Rules. 
 (g) The provisions of the Plan are not intended, and should not be construed, to be legal, business or tax advice. The Company, the Subsidiaries, Participants and any other party having any interest
herein are hereby informed that the U.S. federal tax advice contained in this document (if any) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or
(ii) promoting, marketing or recommending to any party any transaction or matter addressed herein. 
 19.
Termination. No grant will be made under the Plan more than 10 years after the Effective Date, but all grants made on or prior to such date will continue in effect thereafter subject to the terms thereof and of the Plan. 
 20. Governing Law. The Plan, all Awards and all actions taken under the Plan and with respect to the Awards will be governed
in all respects in accordance with the laws of the State of Delaware, including, without limitation, the Delaware statute of limitations, but without giving effect to the principles of conflicts of laws of the State of Delaware. 
 21. Conditions to Delivery of Stock. Nothing contained herein nor in any Award granted hereunder or any Award agreement shall
require the Company to issue any Shares with respect to any Award if such issuance would, in the opinion of counsel for the Company, constitute a violation of the Securities Act or any similar or superseding statute or statutes, any other applicable
statute or regulation, or the rules of any applicable securities exchange or securities association, as then in effect. At the time of any exercise of an Option Right or Appreciation Right, or at the time of any grant of Restricted Shares,
Restricted Stock Unit, Deferred Shares, Performance Awards, Performance Shares, Performance Units, Bonus Stock or any other Award, the Company may, as a condition precedent to the exercise of such Option Right or Appreciation Right or settlement of
any Restricted Share, Restricted Stock Unit or other Award, require from the Participant (or in the event of the Participant’s or her death, his or her legal representatives, heirs, legatees, or distributees) such written representations, if
any, concerning the Participant’s intentions with regard to the retention or disposition of the Shares of

  

 20 

 
Common Stock being acquired pursuant to the Award and such written covenants and agreements, if any, as to the manner of disposal of such Shares as, in the opinion of counsel to the Company, may
be necessary to ensure that any disposition by such Participant (or in the event of the Participant’s death, his or her legal representatives, heirs, legatees, or distributees) will not involve a violation of the Securities Act or any similar
or superseding statute or statutes, any other applicable state or federal statute or regulation, or any rule of any applicable securities exchange or securities association, as then in effect. 
  

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