Document:

Exhibit 4.11

Table of Contents

 Exhibit 4.11 
 HEADLANDS MORTGAGE COMPANY 
 1997 EXECUTIVE AND NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN

 February 5, 1998 

Table of Contents

 
TABLE OF CONTENTS 
  

			
	 	  	Page
	 SUMMARY
	  	1
		
	 General Information
	  	1
	 Purpose of the Stock Option Plan
	  	1
	 Administration
	  	1
	 Options and Awards
	  	1
	 Eligible Persons
	  	2
	 Shares Subject to the Plan
	  	2
	 Term of the Plan
	  	2
	 Term of Options
	  	2
	 DERs
	  	3
	 Option Exercise
	  	3
	 Automatic Grants to Non-Employee Directors
	  	3
	 Amendment and Termination of Stock Option Plan
	  	3
	 Limited Transferability of Options
	  	3
	 No Right to Continued Employment
	  	4
	 Restrictions on Resale of Shares
	  	4
	 Outstanding Options
	  	4
	 Federal Income Tax Considerations
	  	5
	 Income Tax Withholding
	  	7
	 Available Information
	  	7
	 Incorporation of Certain Information by Reference
	  	7
		
	 APPENDIX A
	  	9
		
	 1997 Executive and Non-Employee Director Stock Option Plan
	  	9

  

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 SUMMARY 
 General Information 
 This Prospectus relates to the 1997 Executive and Non-Employee Director Stock Option Plan (the
“Stock Option Plan” or the “Plan”) of Headlands Mortgage Company (the “Company”), and to shares of the Company’s common stock, no par value the “Common Stock”) offered pursuant to the Plan. 
 The Plan was adopted by the Board effective as of July 22, 1997, subject to the approval of the Company stockholders. The stockholders approved the
Plan on September 15, 1997. The Plan has been amended and restated from time to time by the Board of Directors of the Company. The Company’s Plan provides for the grant of qualified incentive stock options (“ISOs”) which meet the
requirements of section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), stock options not so qualified (“NQSOs”), dividend equivalent rights (“DERs”), deferred stock, restricted stock, performance
shares, stock appreciation and limited stock awards (“Awards”). 
 Purpose of the Stock Option Plan 
 The Stock Option Plan is intended to provide a means of performance-based compensation in order to attract and retain qualified personnel and to provide
an incentive to employees, officers, directors and others whose job performance affects the Company, to encourage proprietary interest in the Company, to encourage such key employees to remain in the employ of the Company, to attract new employees
with outstanding qualifications, and to afford additional incentive to others to increase their efforts in providing significant services to the Company. 
 Administration 
 The Stock Option Plan is administered by the Compensation Committee of the Board of Directors (the
“Committee”), which is composed solely of non-employee directors. Members of the Committee are eligible to receive NQSOs pursuant to automatic grants of stock options discussed below. 
 Options and Awards 
 Options granted under the
Stock Option Plan will become exercisable in accordance with the terms of the grants made by the Committee. Awards will be subject to the terms and restrictions of the Awards made by the Committee. Option and Award recipients shall enter into a
written stock option agreement with the Company. The Committee has discretionary authority to select participants from among eligible persons and to determine at the time an option or Award is granted when and in what increments shares covered by
the option or Award may be purchased or will vest and, in the case of options, whether it is intended to be an ISO or a NQSO provided, however, that certain restrictions applicable to ISOs are mandatory, including a requirement that
ISOs not be issued for less than 100 percent of the then fair market value of the Common Stock (110 percent in the case of a grantee who holds more than ten percent of the 

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 outstanding Common Stock) and a maximum term of ten years (five years in the case of a grantee who holds more than ten
percent of the outstanding Common Stock). Fair market value means as of any given date, with respect to any option or Award granted, at the discretion of the Committee, (i) the closing sale price of the Common Stock on the preceding business
day as reported in the Western Edition of the Wall Street Journal or (ii) the average of the closing price of the Common Stock on each day on which it was traded over a period of up to twenty trading days immediately prior to such date, or
(iii) if the Common Stock is not publicly traded, the fair market value of the Common Stock as otherwise determined by the Committee in the good faith exercise of its discretion. 
 Eligible Persons 
 Officers and directors and employees of the Company and other persons
expected to provide significant services to the Company are eligible to participate in the Stock Option Plan. ISOs may be granted to the officers and employees of the Company. NQSOs and Awards may be granted to the directors, officers, employees,
agents and consultants of the Company or any of its subsidiaries. 
 Under current law, ISOs may not be granted to any director of the
Company who is not also an employee, or to directors, officers and other employees of entities unrelated to the Company. 
 Shares Subject to the Plan

 The Stock Option Plan authorizes the grant of options to purchase, and Awards of, an aggregate of up to ten percent of the
Company’s total outstanding shares at any time, provided that no more than 1,000,000 shares of Common Stock shall be cumulatively available for grant as ISOs. If an option granted under the Stock Option Plan expires or terminates, or an
Award is forfeited, the shares subject to any unexercised portion of such option or Award will again become available for the issuance of further options or Awards under the Stock Option Plan. In connection with any reorganization, merger,
consolidation, recapitalization, stock split or similar transaction, the Committee shall appropriately adjust the number of shares of Common Stock subject to outstanding options, Awards and DERs and the total number of shares for which options,
Awards or DERs may be granted under the Plan. 
 Term of the Plan 
 Unless previously terminated by the Board of Directors, the Stock Option Plan will terminate on September 15, 2007, and no options or Awards may be granted under the Stock Option Plan thereafter, but existing
options or Awards will remain in effect until the options are exercised or the options or Awards are terminated by their terms. 
 Term of Options

 Each option must terminate no more than ten years from the date it is granted (or five years in the case of ISOs granted to an
employee who is deemed to own an excess of 10 percent of the combined voting power of the Company’s outstanding equity stock). Options may be granted on terms providing for exercise either in whole or in part at any time or times during their
respective terms, or only in specified percentages at stated time periods or intervals during the term of the option. 
  

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 DERs 
 The Plan provides for granting DERs in tandem with options. DERs can be granted in “accrued” or “current-pay” form. Accrued DERs accrue for the account of the optionee shares of Common Stock upon the payment of cash
dividends on outstanding shares of Common Stock. The number of shares accrued is determined by a formula, and such shares are currently transferred to the optionee only upon exercise of the related option. Shares of Common Stock accrued for the
account of the optionee can also be made eligible to receive dividends and distributions. DERs issued in current-pay form provide that cash payments are made to the optionee at the same time as dividends are paid to holders of outstanding Common
Stock. DERs can be made “performance based” by conditioning the right of the holder of the DER to receive any dividend equivalent payment or accrual upon the satisfaction of specified performance objectives. 
 Option Exercise 
 The exercise price of any
option granted under the Stock Option Plan is payable in full in cash, or its equivalent as determined by the Committee. The Company may make loans available to options holders to exercise options evidenced by a promissory note executed by the
option holder and secured by a pledge of Common Stock with fair value at least equal to the principal of the promissory note unless otherwise determined by the Committee: 
 Automatic Grants to Non-Employee Directors 
 Each non-employee director of the Company is
automatically granted NQSOs to purchase 10,000 shares of Common Stock without DERs upon becoming a director of the Company. Such automatic grants of stock options vest 25 percent on the anniversary date in the year following the date of the grant
and 25 percent on each anniversary date thereafter. The exercise price for such automatic grants of stock options is the fair market value of the Common Stock on the date of grant, and is required to be paid in cash. 
 Amendment and Termination of Stock Option Plan 
 The Board of Directors may, without affecting any outstanding options or Awards, from time to time revise or amend the Stock Option Plan, and may suspend or discontinue it at any time. However, no such revision or amendment may, without
stockholder approval, increase the number of shares subject to the Stock Option Plan, modify the class of participants eligible to receive options or Awards granted under the Stock Option Plan or extend the maximum option term under the Stock Option
Plan. 
 Limited Transferability of Options 
 Options may be granted on terms which permit transfer by such optionee to family members or trusts or partnerships for the exclusive benefit of such immediate family members or any other persons or entities as may be
approved by the Committee, subject in all cases to the terms of the Plan. 
  

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 No Right to Continued Employment 
 Neither the adoption of the Plan nor the grant of Stock Options or other benefits under the Plan to any employee of the Company or any Subsidiary shall
confer upon any employee any right to continued employment with the Company or a Subsidiary, as the case may be, or interfere in any way with the right of the Company or a Subsidiary to terminate the employment of any of its employees at any time.

 Restrictions on Resale of Shares 
 Employees who are affiliates (directors and certain executive officers) of the Company may not reoffer or resell shares of the Common Stock by use or delivery of this Prospectus. Such affiliates may reoffer or resell Common Stock only
(a) pursuant to a prospectus of the Company that is part of a registration statement covering reoffers and resales of securities that has become effective under the Securities Act of 1933, as amended (the “Securities Act”) or
(b) in reliance upon and in compliance with applicable provisions of Rule 144 under the Securities Act. 
 Employees who are not
affiliates of the Company at the time of their proposed reoffer or resale of shares of Common Stock generally will be entitled to effect such reoffers or resales without use of a prospectus or compliance with Rule 144. 
 Employees who are subject to the short-swing profit provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), may be limited in their ability to purchase and sell equity securities of the Company by virtue of their participation in the Plan. 
 Outstanding Options 
 As of February 5, 1998, options for up to 1,850,000 shares of Common Stock were authorized
to be issued under the Stock Option Plan, options to acquire 1,090,500 shares were issued and outstanding under such Plan and no options had previously been exercised, leaving 759,500 shares available for the grant of additional options, Awards or
DERs. 
 The Plan provides that, in connection with any reorganization, merger, consolidation, recapitalization, stock split or similar
transaction, the Committee shall appropriately adjust the number of shares of Common Stock subject to outstanding options, Awards and DERs and the total number of shares for which options, Awards or DERs may be granted under the Plan. 
 The number, if any, and terms of options, DERs or Awards which may be granted in future periods is not presently determinable as the Committee has sole
discretion to determine the number, if any, and terms of such options, DERs or Awards within the specified limits stated above under “Shares Subject to the Plan.” 
  

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 Federal Income Tax Considerations 
 General. The following is a brief summary of the principal U.S. federal income tax consequences, based on current income tax laws, of the issuance
and exercise of options, DERs and Awards under the Company’s Plan. This summary is not intended to be exhaustive and does not describe state, local or foreign tax consequences. Grantees are strongly urged to consult their tax advisors regarding
the federal, state, local or other tax consequences of the receipt and exercise of options, DERs and Awards under a Plan and the rules concerning taxation of capital gains, which were recently revised and which continue to be under review by
Congress. 
 Incentive Stock Options (“ISOs”). No taxable income will be recognized by a grantee upon the grant or exercise
of an ISO. If shares of Common Stock are issued to a grantee pursuant to the exercise of an ISO granted under the Plan and if no disqualifying disposition of such shares is made by such grantee within two years after the date of grant or within one
year after the receipt of such shares by such grantee, then upon the sale of such shares, any amount realized in excess of the option price will be taxed to such grantee (a) as a mid-term capital gain and any loss sustained will be a mid-term
capital loss or (b) if such shares have been held for more than 18 months, as a long-term capital gain or loss. In either case, no deduction will be allowed to the Company. Additionally, the exercise of an ISO will give rise to an item of tax
preference that may result in alternative minimum tax liability of the grantee. 
 If shares of Common Stock acquired upon the exercise of an
ISO are disposed of prior to the expiration of two years after the date of grant or one year after exercise, generally (a) the grantee will recognize ordinary income in the year of disposition in an amount equal to the excess (if any) of the
fair market value of the shares at exercise (or, if less, the amount realized on the disposition of the shares) over the option price thereof, and (b) the Company will be entitled to deduct such amount. Any further gain or loss recognized by
the grantee will be subject to tax as capital gain or loss (generally long-term capital gain or loss if the stock has been held for more than 18 months and midterm gain or loss if held more than one year but no more than 18 months) and will not
result in any deduction by the Company. 
 If an ISO is exercised at a time when it no longer qualifies as an ISO, the option will be treated
as an NQSO. Subject to certain exceptions for disability or death, an ISO generally will not be eligible for the federal income tax treatment described above if it is exercised more than three months following the termination of employment.

 Non-Qualified Options (“NQSOs”). No taxable income will be recognized by a grantee upon the grant of an NQSO. Upon
exercise, however, the grantee will generally recognize ordinary income in an amount equal to the difference between the option price (the amount paid for the shares) and the fair market value of the shares on the date of exercise, the grantee will
have a basis in such stock in an amount equal to such fair market value, and the Company will be entitled to deduct a like amount. 
 Upon
subsequent sale of any such shares of Common Stock acquired pursuant to the exercise of an NQSO, a grantee will have capital gain or loss equal to the difference between the amount realized upon such sale and the grantee’s adjusted tax basis in
the shares of Common Stock. Such gain or loss will be capital gain or loss and generally will be long-term if the shares of Common Stock have been held for more than 18 months from the date the option is exercised and mid-term if held more than one
year but not more than 18 months. 
  

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 Transfer of NQSO’s to Family Members. If an employee transfers a vested NQSO to a family
member prior to exercise, the employee will generally be required to treat the transfer as a completed gift for federal estate and gift tax purposes and will not recognize any income upon such transfer. However, upon exercise of the NQSO, the
employee (or his or her estate) will recognize the income, if any, attributable thereto. Any gain or loss from a subsequent disposition of the shares of Common Stock will be taxable to the family member and not the employee. 
 Awards and DERs. No taxable income will be recognized by a grantee upon the grant of an Award or current-pay DER or the grant or accrual of an
accrual DER. Taxable income is recognized when cash is received by the holder of a current-pay DER. If the Award or the underlying option to which an accrual DER relates, is exercised, the grantee generally will be subject to tax at ordinary income
rates on the fair market value of the Common Stock subject to the Award or DER, less the amount paid for such stock, at the time it becomes transferable or is no longer subject to forfeiture. Alternatively, a grantee who makes an election under
Section 83(b) of the Code within 30 days of the date of purchase/exercise will include in income on the date of the purchase/exercise an amount equal to the excess of the fair market value of the shares of Common Stock subject to the Award or
DER, assuming the shares were then unrestricted and could be sold immediately, over the purchase price of such Common Stock. If the shares of Common Stock subject to such election are forfeited, the grantee will only be entitled to a deduction,
refund or loss for federal income tax purposes equal to the purchase price, if any, of the forfeited shares. 
 With respect to the sale of
the shares after the forfeiture period has expired, the holding period to determine whether the grantee has long-term or short-term capital gain or loss begins when the restriction period expires. If the grantee timely elects to be taxed as of the
date of the purchase/exercise, however, such grantee’s holding period will commence on the date of the purchase/exercise and such grantee’s tax basis will be equal to the excess of the fair market value of the shares of Common Stock
subject to the Award or DER on the date of the purchase/exercise, assuming the shares were then unrestricted and could be sold immediately, over the purchase price of such Common Stock. Except as noted below, the Company generally will be entitled
to a deduction equal to the amount that is taxable as ordinary compensation income to the grantee. 
 Company Deductions. If
applicable withholding requirements are met, the Company generally will be entitled to a tax deduction in an amount equal to the ordinary income realized by the participant at the time the participant recognizes such income. However, Code
Section 162(m) contains specific rules regarding the federal income tax deductibility of compensation paid to the Company’s Chief Executive Officer and to each of the other four most highly compensated executive officers. The general rule
is that annual compensation paid to any of these specified executives will be deductible only to the extent that it does not exceed $1 million. However, the Company can preserve the deductibility of certain compensation in excess of $1 million if it
complies with conditions imposed by the rules, including (1) the establishment of a maximum number of shares with respect to which options, DERs and Awards may be granted to any one employee during a specified time period, and (2) for
restricted stock, DERs and 
  

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 performance units/shares, inclusion in the Plan of performance goals which must be achieved prior to accrual or payment.
The Plan has been designed to permit the Committee to grant options and Awards which satisfy the requirements of new Section 162(m). 
 Income Tax
Withholding 
 In the event that the Company or any subsidiary is required to withhold any federal, state or local taxes in respect of
any compensation income realized by an employee (a) as a result of any “disqualifying disposition” of any shares of Common Stock acquired upon exercise of any ISO granted hereunder, or (b) in respect of an NQSO or Award granted
hereunder, any shares acquired by the employee or any permitted transferee pursuant to an NQSO, DER or Award, or the vesting of any such shares of Common Stock, then the Company shall deduct from any payments of any kind otherwise due to such
employee the aggregate amount of such federal, state or local taxes required to be so withheld or, if such payments are insufficient to satisfy such federal, state or local taxes, such employee will be required to pay to the Company, or make other
arrangements satisfactory to the Company regarding payment to the Company of, the aggregate amount of any such taxes. 
 Available Information

 Additional information regarding the 1997 Stock Option Plan and the Committee is available at the following address and telephone
number: Headlands Mortgage Company, 1100 Larkspur Landing Circle, Suite 101, Larkspur, California 94939, Attention Paul Casellini (415) 461-6790. 
 Incorporation of Certain Information by Reference 
 There are incorporated herein by reference the following documents
heretofore filed by the Company with the Commission, and copies are available to employees without charge upon written or oral request (excluding exhibits to those documents unless the exhibits are specifically incorporated herein by reference into
the documents that this Prospectus incorporates by reference): 
  

	 	(a)	The Company’s Prospectus, dated February 4, 1998, and filed pursuant to Rule 424(b) under the Securities Act on February 5, 1998. 

  

	 	(b)	The Company’s Form 8-K dated February 4, 1998 and filed on February 5, 1998. 

  

	 	(c)	The description of the Company’s Common Stock contained in the Company’s Registration Statement on Form 8-A, filed December 29, 1997 and amended on January 30,
1998 and February 3, 1998. 

 All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 or
15(d) of the Exchange Act subsequent to the date of this Prospectus and prior to the filing of a post-effective amendment indicating that such Common Stock shares have been sold, or deregistering all of the Common Stock shares that, at the time of
such post-effective amendment, remain unsold, shall be deemed to be incorporated by reference in this Prospectus and to be a part hereof from the date of filing of such documents. Any statement contained herein or in any 

  

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document incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Prospectus to the extent that a statement
contained herein or in any other subsequently filed document, which also is or is deemed to be incorporated by reference herein, modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Prospectus. 
 The Company will also provide any employee with any updates to this
Prospectus, free of charge, upon written or oral request at the address and telephone number listed above under “Available Information.” 
  

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 APPENDIX A 
 HEADLANDS MORTGAGE COMPANY 
 AMENDED AND RESTATED 
 1997 EXECUTIVE AND NON-EMPLOYEE DIRECTOR 
 STOCK OPTION PLAN 
 (Adopted Effective July 22, 1997) 
 As Amended January 8, 1998 
 1. General Purpose of Plan; Definitions. 
 The name of this plan is the Headlands Mortgage Company 1997 Executive and Non-Employee Director Stock Option Plan (the “Plan”). The Plan was
adopted by the Board effective as of July 22, 1997, subject to the approval of the Company stockholders. The stockholders approved the Plan on September 15, 1997. The Plan has been amended and restated from time to time by the Board of
Directors of the Company. The purpose of the Plan is to enable the Company and its Subsidiaries to obtain and retain competent personnel who will contribute to the Company’s success by their ability, ingenuity and industry, to give the
Company’s non-employee directors a proprietary interest in the Company and to provide incentives to the participating directors, officers and other key employees, and agents and consultants that are linked directly to increases in stockholder
value and will therefore inure to the benefit of all stockholders of the Company. 
 For purposes of the Plan, the following terms shall be
defined as set forth below: 
 (1) “Accrued DERs” means dividend equivalent rights with the accrual rights described in
Section 5(11). 
 (2) “Administrator” means the Board, or if the Board does not administer the Plan, the Committee in
accordance with Section 2. 
 (3) “Board” means the Board of Directors of the Company. 
 (4) “Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor thereto. 
 (5) “Committee” means the Compensation Committee of the Board, which shall be composed entirely of individuals who meet the qualifications to
be a “Non-Employee Director” as defined in Rule 16b-3 (“Rule 16b-3”) as promulgated by the Securities and Exchange Commission (the “Commission”) under the Securities Exchange Act of 1934 (the “Act”), and as
such Rule may be amended from time to time, or any successor definition adopted by the 
  

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 Commission, or any other Committee the Board may subsequently appoint to administer the Plan. If at any time the Board
shall not administer the Plan, then the functions of the Board specified in the Plan shall be exercised by the Committee. 
 (6)
“Company” means Headlands Mortgage Company, a corporation organized under the laws of the State of California (or any successor corporation). 
 (7) “Current-pay DERs” means dividend equivalent rights with the current-pay rights described in Section 5(11). 
 (8) “DERs” shall mean Accrued DERs and Current-pay DERs. 
 (9) “Deferred Stock” means an
award granted pursuant to Section 7 of the right to receive Stock at the end of a specified deferral period. 
 (10)
“Disability” means permanent and total disability as determined under the Company’s disability program or policy. 
 (11)
“Effective Date” shall mean the date provided pursuant to Section 12. 
 (12) “Eligible Employee” means an employee
of the Company or any Subsidiary eligible to participate in the Plan pursuant to Section 4. 
 (13) “Eligible Non-Employee
Director” means a member of the Board or the board of directors of any Subsidiary who is not a bona fide employee of the Company or any Subsidiary and who is eligible to participate in the Plan pursuant to Section 5A. 
 (14) “Fair Market Value” means, as of any given date, with respect to any awards granted hereunder, at the discretion of the Administrator and
subject to such limitations as the Administrator may impose, (A) the closing sale price of the Stock on the next preceding business day as reported in the Western Edition of the Wall Street Journal Composite Tape, or (B) the average of the
closing price of the Stock on each day on which the Stock was traded over a period of up to twenty trading days immediately prior to such date, or (C) if the Stock is not publicly traded, the fair market value of the Stock as otherwise
determined by the Administrator in the good faith exercise of its discretion. 
 (15) “Incentive Stock Option” means any Stock
Option intended to be designated as an “incentive stock option” within the meaning of Section 422 of the Code. 
 (16)
“Limited Stock Appreciation Right” means a Stock Appreciation Right that can be exercised only in the event of a “Change of Control” (as defined in Section 10 below). 
 (17) “Non-Employee Director” shall have the meaning set forth in Rule 16b-3. 
 (18) “Non-Qualified Stock Option” means any Stock Option that is not an Incentive Stock Option, including any Stock Option that provides (as of
the time such option is granted) that it will not be treated as an Incentive Stock Option. 
  

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 (19) “Parent Corporation” means any corporation (other than the Company) in an unbroken chain
of corporations ending with the Company, if each of the corporations in the chain (other than the Company) owns stock possessing 50% or more of the combined voting power of all classes of stock in one of the other corporations in the chain.

 (20) “Participant” means any Eligible Employee or any consultant or agent of the Company or any Subsidiary selected by the
Committee, pursuant to the Administrator’s authority in Section 2, to receive grants of Stock Options, DERs, Stock Appreciation Rights, Limited Stock Appreciation Rights, Restricted Stock awards, Deferred Stock awards, Performance Shares
or any combination of the foregoing, or any Eligible Non-Employee Director eligible to receive grants of Non-Qualified Stock Options and DERs pursuant to Section 5A below. 
 (21) “Performance Share” means an award of shares of Stock granted pursuant to Section 7 that is subject to restrictions based upon the
attainment of specified performance objectives. 
 (22) “Restricted Stock” means an award granted pursuant to Section 7 of
shares of Stock subject to restrictions that will lapse with the passage of time. 
 (23) “Stock” means the Common Stock of the
Company. 
 (24) “Stock Appreciation Right” means the right pursuant to an award granted under Section 6 to receive an amount
equal to the difference between (A) the Fair Market Value, as of the date such Stock Appreciation Right or portion thereof is surrendered, of the shares of Stock covered by such right or such portion thereof, and (B) the aggregate exercise
price of such right or such portion thereof. 
 (25) “Stock Option” means an option to purchase shares of Stock granted pursuant to
Section 5 or Section 5A. 
 (26) “Subsidiary” means any corporation (other than the Company) either (i) in an
unbroken chain of corporations beginning with the Company, if each of the corporations (other than the last corporation) in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the
other corporations in the chain or (ii) organized to act as the mortgage loan conduit for the Company. 
 2. Administration. 
 The Plan shall be administered by the Board or by the Committee appointed by the Board, which shall serve at the pleasure of the Board; provided,
however, that at all times following the closing of an initial public offering of the Stock, the Plan shall be administered by the Committee appointed by the Board. 
 The Administrator shall have the power and authority to grant to Eligible Employees and consultants or agents of the Company or any Subsidiary, pursuant
to the terms of the Plan: (a) Stock Options (with or without DERs), (b) Stock Appreciation Rights or Limited Stock Appreciation Rights, (c) Restricted Stock, (d) Deferred Stock, (e) Performance Shares or (f) any
combination of the foregoing. 
  

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 In particular, the Administrator shall have the authority: 
 (a) to select those employees of the Company or any Subsidiary who shall be Eligible Employees; 
 (b) to determine whether and to what extent Stock Options (with or without DERs), Stock Appreciation Rights, Limited Stock Appreciation Rights,
Restricted Stock, Deferred Stock, Performance Shares or a combination of the foregoing, are to be granted to Eligible Employees or any consultant or agent of the Company or any Subsidiary hereunder; 
 (c) to determine the number of shares to be covered by each such award granted hereunder; 
 (d) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any award granted hereunder (including, but not limited to,
(x) the restricted period applicable to Restricted or Deferred Stock awards and the date or dates on which restrictions applicable to such Restricted or Deferred Stock shall lapse during such period, and (y) the performance goals and
periods applicable to the award of Performance Shares); and 
 (e) to determine the terms and conditions, not inconsistent with the terms of
the Plan, which shall govern all written instruments evidencing the Stock Options, DERs, Stock Appreciation Rights, Limited Stock Appreciation Rights, Restricted Stock, Deferred Stock, Performance Shares or any combination of the foregoing.

 The Administrator shall have the authority, in its discretion, to adopt, alter and repeal such administrative rules, guidelines and
practices governing the Plan as it shall from time to time deem advisable; to interpret the terms and provisions of the Plan and any award issued under the Plan (and any agreements relating thereto); and to otherwise supervise the administration of
the Plan. 
 All decisions made by the Administrator pursuant to the provisions of the Plan shall be final and binding on all persons,
including the Company, any Subsidiaries and the Participants. 
 3. Stock Subject to Plan. 
 The total number of shares of Stock reserved and available for issuance under the Plan shall be 50; provided, however, that from and after
such time as the Company closes an initial public offering of the Stock, the total number of shares of Stock reserved and available for issuance (inclusive of shares already issued) under the Plan shall automatically be increased so as to equal ten
percent (10%) of the number of then outstanding shares of Stock, and provided further, that no more than 1,000,000 shares of Stock shall be cumulatively available for Incentive Stock Options. At all times, the number of shares reserved
and available for issuance hereunder as so determined from time to time shall be decreased by virtue of awards granted and outstanding or exercised hereunder. 
 To the extent that (i) a Stock Option or DER expires or is otherwise terminated without being exercised, or (ii) any shares of Stock subject to any Restricted Stock, Deferred Stock or Performance Share award
granted hereunder are forfeited, such shares shall again be available 
  

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 for issuance in connection with future awards under the Plan. If any shares of Stock have been pledged as collateral for
indebtedness incurred by a Participant in connection with the exercise of a Stock Option and such shares are returned to the Company in satisfaction of such indebtedness, such shares shall again be available for issuance in connection with future
awards under the Plan. 
 In the event of any merger, reorganization, consolidation, recapitalization, Stock dividend, or other change in
corporate structure affecting the Stock, a substitution or adjustment may be made in (i) the aggregate number of shares reserved for issuance under the Plan, and (ii) the kind, number and option price of shares subject to outstanding Stock
Options and DERs granted under the Plan as may be determined by the Administrator, in its sole discretion, provided that the number of shares subject to any award shall always be a whole number. Such other substitutions or adjustments shall
be made as may be determined by the Administrator, in its sole discretion; provided, however, that with respect to Incentive Stock Options, such adjustment shall be made in accordance with Section 424 of the Code. An adjusted
option price shall also be used to determine the amount payable by the Company upon the exercise of any Stock Appreciation Right or Limited Stock Appreciation Right associated with any Stock Option. 
 The aggregate number of shares of Stock for which Stock Options or Stock Appreciation Rights may be granted to any individual during any calendar year
may not, subject to adjustment as provided in this Section 3, exceed 75% of the shares of Stock reserved for the purposes of the Plan in accordance with the provisions of this Section 3. 
 4. Eligibility. 
 Employees of the Company who are
responsible for or contribute to the management, growth and/or profitability of the business of the Company or its Subsidiaries shall be eligible to be granted Stock Options, DERs, Stock Appreciation Rights, Limited Stock Appreciation Rights,
Restricted Stock awards, Deferred Stock awards or Performance Shares hereunder. The Participants under the Plan shall be selected from time to time by the Administrator, in its sole discretion, from among the Eligible Employees recommended by the
senior management of the Company, and the Administrator shall determine, in its sole discretion, the number of shares covered by each award; provided, however, that Eligible Non-Employee Directors shall only be eligible to receive
Stock Options as provided in Section 5A. 
 5. Stock Options. 
 Stock Options may be granted alone or in addition to other awards granted under the Plan, including DERs as described in Section 5(11). Any Stock Option granted under the Plan shall be in such form as the
Administrator may from time to time approve, and the provisions of Stock Option awards need not be the same with respect to each optionee. Recipients of Stock Options shall enter into a stock option agreement with the Company, in such form as the
Administrator shall determine, which agreement shall set forth, among other things, the exercise price of the option, the term of the option and provisions regarding exercisability of the option granted thereunder. 
  

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 The Stock Options granted under the Plan may be of two types: (i) Incentive Stock Options and
(ii) Non-Qualified Stock Options. 
 The Administrator shall have the authority under this Section 5 to grant any optionee (except
Eligible Non-Employee Directors) Incentive Stock Options, Non-Qualified Stock Options, or both types of Stock Options (in each case with or without DERs, Stock Appreciation Rights or Limited Stock Appreciation Rights), provided,
however, that Incentive Stock Options may not be granted to any individual who is not an employee of the Company or its Subsidiaries. To the extent that any Stock Option does not qualify as an Incentive Stock Option, it shall constitute a
separate Non-Qualified Stock Option. More than one option may be granted to the same optionee and be outstanding concurrently hereunder. 
 Stock Options granted under the Plan shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Administrator shall deem desirable:

 (1) Option Price. The option price per share of Stock purchasable under a Stock Option shall be determined by the Administrator in
its sole discretion at the time of grant but shall not, in the case of Incentive Stock Options, be less than 100% of the Fair Market Value of the Stock on such date, and shall not, in any event, be less than the par value of the Stock, if any. The
option price per share of Stock purchasable under a Non-Qualified Stock Option may be less than 100% of such Fair Market Value. If an employee owns or is deemed to own (by reason of the attribution rules applicable under Section 425(d) of the
Code) more than 10% of the combined voting power of all classes of stock of the Company or any Parent Corporation or Subsidiary and an Incentive Stock Option is granted to such employee, the option price of such Incentive Stock Option (to the extent
required by the Code at the time of grant) shall be no less than 110% of the Fair Market Value of the Stock on the date such Incentive Stock Option is granted. 
 (2) Option Term. The term of each Stock Option shall be fixed by the Administrator, but no Stock Option shall be exercisable more than ten years after the date such Stock Option is granted; provided,
however, that if an employee owns or is deemed to own (by reason of the attribution rules of Section 425(d) of the Code) more than 10% of the combined voting power of all classes of stock of the Company or any Parent Corporation or
Subsidiary and an Incentive Stock Option is granted to such employee, the term of such Incentive Stock Option (to the extent required by the Code at the time of grant) shall be no more than five years from the date of grant. 
 (3) Exercisability. Stock Options shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by
the Administrator at or after grant; provided, however, that, except as provided herein or unless otherwise determined by the Administrator at or after grant, Stock Options shall become exercisable as to 25% of the shares subject to
such Stock Option on the first anniversary of the date of grant of the Stock Option, and as to an additional 25% on each of the next three anniversaries of the date of grant. To the extent not exercised, installments shall accumulate and be
exercisable in whole or in part at any time after becoming exercisable but not later than the date the Stock Option expires. The Administrator may provide, in its discretion, that any Stock Option shall be exercisable only in installments, and the
Administrator may waive such installment exercise provisions at any time in whole or in part based on such factors as the Administrator may determine, in its sole discretion. 
  

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 (4) Method of Exercise. Subject to Section 5(3), Stock Options may be exercised in whole or
in part at any time during the option period, by giving written notice of exercise to the Company specifying the number of shares to be purchased, accompanied by payment in full of the purchase price in cash or its equivalent as determined by the
Administrator. As determined by the Administrator, in its sole discretion, payment in whole or in part may also be made in the form of unrestricted Stock already owned by the optionee, or, in the case of the exercise of a Non-Qualified Stock Option,
Restricted Stock or Performance Shares subject to an award hereunder (based, in each case, on the Fair Market Value of the Stock on the date the option is exercised); provided, however, that in the case of an Incentive Stock Option,
the right to make payment in the form of already owned shares may be authorized only at the time of grant. Any payment in the form of stock already owned by the optionee may be effected by use of an, attestation form approved by the Administrator.
If payment of the option exercise price of a Non-Qualified Stock, Option is made in whole or in part in the form of Restricted Stock or Performance Shares, the shares received upon the exercise of such Stock Option (to the extent of the number of
shares of Restricted Stock or Performance Shares surrendered upon exercise of such Stock Option) shall be restricted in accordance with the original terms of the Restricted Stock or Performance Share award in question, except that the Administrator
may direct that such restrictions shall apply only to that number of shares equal to the number of shares surrendered upon the exercise of such option. An optionee shall generally have the rights to dividends and other rights of a stockholder with
respect to shares subject to the option only after the optionee has given written notice of exercise, has paid in full for such shares, and, if requested, has given the representation described in paragraph (1) of Section 11. 

The Administrator may require the voluntary surrender of all or a portion of any Stock Option granted under the Plan as a condition precedent to a
grant of a new Stock Option. Subject to the provisions of the Plan, such new Stock Option shall be exercisable at the price, during such period and on such other terms and conditions as are specified by the Administrator at the time the new Stock
Option is granted; provided, however, that should the Administrator so require, the number of shares subject to such new Stock Option shall not be greater than the number of shares subject to the surrendered Stock Option. Upon their
surrender, Stock Options shall be canceled and the shares previously subject to such canceled Stock Options shall again be available for grants of Stock Options and other awards hereunder. 
 (5) Loans. The Company may make loans available to Stock Option holders in connection with the exercise of outstanding options granted under the
Plan, as the Administrator, in its discretion, may determine. Such loans shall (i) be evidenced by promissory notes entered into by the Stock Option holders in favor of the Company, (ii) be subject to the terms and conditions set forth in
this Section 5(5) and such other terms and conditions, not inconsistent with the Plan, as the Administrator shall determine, and (iii) bear interest, if any, at such rate as the Administrator shall determine. In no event may the principal
amount of any such loan exceed the sum of (x) the exercise price less the par value of the shares of Stock covered by the option, or portion thereof, exercised by the holder, and (y) any federal, state, and local income tax attributable to
such exercise. The initial term of the loan, the schedule of payments of principal and interest under the loan, the extent to which the loan is to be with or without recourse against 
  

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 the holder with respect to principal or interest and the conditions upon which the loan will become payable in the event
of the holder’s termination of employment shall be determined by the Administrator; provided, however, that the term of the loan, including extensions, shall not exceed seven years. Unless the Administrator determines otherwise,
when a loan is made, shares of Stock having a Fair Market Value at least equal to the principal amount of the loan shall be pledged by the holder to the Company as security for payment of the unpaid balance of the loan, and such pledge shall be
evidenced by a pledge agreement, the terms of which shall be determined by the Administrator, in its discretion; provided, however, that each loan shall comply with all applicable laws, regulations and rules of the Board of Governors
of the Federal Reserve System and any other governmental agency having jurisdiction. 
 (6) Limits on Transferability of Options.

 (a) Subject to Section 5(6)(b), no Stock Option shall be transferable by the optionee otherwise than by will or by the laws of descent
and distribution or pursuant to a “qualified domestic relations order,” as such term is defined in the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and all Stock Options shall be exercisable, during the
optionee’s lifetime, only by the optionee or in accordance with the terms of a qualified domestic relations order. 
 (b) The
Administrator may, in its discretion, authorize all or a portion of the options to be granted to an optionee to be on terms which permit transfer by such optionee to (i) the spouse, qualified domestic partner, children or grandchildren of the
optionee and any other persons related to the optionee as may be approved by the Administrator (“Immediate Family Members”), (ii) a trust or trusts for the exclusive benefit of such Immediate Family Members, (iii) a partnership
or partnerships in which such Immediate Family Members are the only partners, or (iv) any other persons or entities as may be approved by the Administrator, provided that (x) there may be no consideration for any transfer unless
approved by the Administrator, (y) the stock option agreement pursuant to which such options are granted must be approved by the Administrator, and must expressly provide for transferability in a manner consistent with this
Section 5(6)(b), and (z) subsequent transfers of transferred options shall be prohibited except those in accordance with Section 5(6)(a) or expressly approved by the Administrator. Following transfer, any such options shall continue
to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that, except for purposes of Sections 5(7), (8) and (9) and 11(3) hereof, the terms “optionee,” Stock Option
holder” and “Participant” shall be deemed to refer to the transferee. The events of termination of employment under Sections 5(7), (8) and (9) hereof shall continue to be applied with respect to the original optionee,
following which the options shall be exercisable by the transferee only to the extent, and for the periods specified under such sections unless the option agreement governing such options otherwise provides. Notwithstanding the transfer, the
original optionee will continue to be subject to the provisions of Section 11(3) regarding payment of taxes, including the provisions entitling the Company to deduct such taxes from amounts otherwise due to such optionee. Any transfer of a
Stock Option that was originally granted with DERs related thereto shall automatically include the transfer of such DERs, any attempt to transfer such Stock Option separately from such DERs shall be void, and such DERs shall continue in effect
according to their terms. “Qualified domestic partner” for the purpose of this Section 5(6)(b) shall mean a domestic partner living in the same household as the optionee and registered with, certified by or otherwise acknowledged by
the county or other applicable governmental body as a domestic partner or otherwise establishing such status in any manner satisfactory to the Administrator. 
  

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 (7) Termination by Death. If an optionee’s employment with the Company or any Subsidiary
terminates by reason of death, the Stock Option may thereafter be immediately exercised, to the extent then exercisable (or on such accelerated basis as the Administrator shall determine at or after grant), by the legal representative of the estate
or by the legatee of the optionee under the will of the optionee, for a period of twelve months (or such shorter period as the Administrator shall specify at grant) from the date of such death or until the expiration of the stated term of such Stock
Option, whichever period is shorter. 
 (8) Termination by Reason of Disability. If an optionee’s employment with the Company or
any Subsidiary terminates by reason of Disability, any Stock Option held by such optionee may thereafter be exercised, to the extent it was exercisable at the time of such termination (or on such accelerated basis as the Administrator shall
determine at the time of grant), for a period of twelve months (or such shorter period as the Administrator shall specify at grant) from the date of such termination of employment or until the expiration of the stated term of such Stock Option,
whichever period is shorter; provided, however, that, if the optionee dies within such twelve-month period (or such shorter period as the Administrator shall specify at grant) and prior to the expiration of the stated term of such
Stock Option, any unexercised Stock Option held by such optionee shall thereafter be exercisable to the extent to which it was exercisable at the time of termination for a period of twelve months (or such shorter period as the Administrator shall
specify at grant) from the time of death or until the expiration of the stated term of such Stock Option, whichever period is shorter. In the event of a termination of employment by reason of Disability, if an Incentive Stock Option is exercised
after the expiration of the applicable exercise periods under Section 422 of the Code, such Stock Option shall thereafter be treated as a Non-Qualified Stock Option. 
 (9) Other Termination. Except as otherwise determined by the Administrator, if an optionee’s employment with the Company or any Subsidiary terminates for any reason other than death or Disability, the
Stock Option may be exercised for a period of three months from the date of such termination, or until the expiration of the stated term of such Stock Option, whichever period is shorter. 
 (10) Annual Limit on Incentive Stock Options. To the extent that the aggregate Fair Market Value (determined as of the date the Incentive Stock
Option is granted) of shares of Stock with respect to which Incentive Stock Options granted to an Optionee under this Plan and all other option plans of the Company, its Parent Corporation or any Subsidiary become exercisable for the first time by
the Optionee during any calendar year exceeds $100,000, such Stock Options shall be treated as Non-Qualified Stock Options. 
 (11)
DERs. The Administrator shall have the discretion to grant DERs in conjunction with grants of Stock Options pursuant to this Section 5. DERs may be granted in either of two forms, “Current-pay DERs” and “Accrued DERs”
and the Administrator may condition the payment or accrual of amounts in respect thereof subject to satisfaction of such performance objectives as the Administrator may specify at the time of grant. Assuming satisfaction of any applicable
conditions, Current-pay DERs shall be paid concurrently with any dividends or 
  

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 distributions paid on the Stock during the time the related Stock Options are outstanding in an amount equal to the cash
dividend (or Stock or other property hereby distributed) per share being paid on the Stock times the number of shares subject to the related Stock Options. Current-pay DERs are payable in cash, Stock or such other property in the same manner as may
be distributed to shareholders. Accrued DERs may be accrued in respect of cash dividends only or cash dividends and the value of any Stock or other property distributed to shareholders, as the Administrator shall determine at the time of grant.
Assuming satisfaction of any applicable conditions, Accrued DERs shall be accrued with respect to the related Stock Options outstanding as of the date dividends are declared on the Company’s Stock in accordance with the following formula:

 (A x B) / C 
 under which “A” equals
the number of shares subject to such Stock Options, “B” equals the cash dividend per share or the value per share of the Stock or other property being distributed, as the case may be, and “C” equals the Fair Market Value per
share of Stock on the dividend payment date. The Accrued DERs shall represent shares of Stock which shall be issuable to the holder of the related Stock Option proportionately as the holder exercises the Stock Option to which the Accrued DERs
relate, rounded down to the nearest whole number of shares. DERs shall expire upon the expiration of the Stock Options to which they relate. The Administrator shall specify at the time of grant whether dividends shall be payable or credited on
Accrued DERs. Notwithstanding anything to the contrary herein, Accrued DERs granted with respect to Stock Options shall be accrued only to the extent of the number of shares of stock then reserved and available for issuance under the Plan in excess
of the number of shares subject to issuance pursuant to outstanding Stock Option, Accrued DER, Stock Appreciation Right, Limited Stock Appreciation Right, Deferred Stock or Performance Share awards. 
 5A. Stock Options For Eligible Non-Employee Directors. 
 This Section 5A shall apply only to automatic grants of Stock Options to Eligible Non-Employee Directors. 
 (1) Following the
closing of an initial public offering of the Stock, each Eligible Non-Employee Director serving at the time or thereafter duly elected or appointed shall automatically be granted a Non-Qualified Stock Option to purchase 10,000 shares of Stock. The
option price per share of Stock purchasable under such Stock Option shall be 100% of the Fair Market Value on the date of grant. Such Stock Option shall become exercisable as to 25% of the shares subject to such Stock Option on the first anniversary
of the date of grant of the Stock Option, and as to an additional 25% of the shares subject to such Stock Option on each of the next three anniversaries of the date of grant. To the extent not exercised, installments shall accumulate and be
exercisable in whole or in part at any time after becoming exercisable but not later than the date the Stock Option expires. Exercise shall be by payment in full of the purchase price in cash and no stock option shall be exercisable more than ten
years after the date of grant. The aggregate number of shares of Stock that may be granted to Eligible Non-Employee Directors pursuant to the Plan may not exceed 150,000 shares. 
  

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 (2) Eligible Non-Employee Directors who receive grants of Stock Options shall enter into a stock option
agreement with the Company, which agreement shall set forth, among other things, the exercise price of the option, the term of the option and provisions regarding exercisability of the option granted thereunder. The Stock Options granted under this
section shall be Non-Qualified Stock Options. 
 (3) Non-Qualified Stock Options granted to Eligible Non-Employee Directors hereunder shall
be transferable only to the extent provided in Sections 5(6)(a) and (b). 
 (4) No DERs shall be paid with respect to such Non-Qualified
Stock Options. 
 (5) The Board may not amend, alter or discontinue the provisions of this Section 5A more than once every six months
other than to comport with changes in the Code, ERISA and the rules thereunder or the federal securities laws and the rules thereunder. 
 6. Stock
Appreciation Rights and Limited Stock Appreciation Rights. 
 (1) Grant and Exercise. Stock Appreciation Rights and Limited Stock
Appreciation Rights may be granted either alone (“Free Standing Rights”) or in conjunction with all or part of any Stock Option granted under the Plan (“Related Rights”). In the case of a Non-Qualified Stock Option, Related
Rights may be granted either at or after the time of the grant of such Stock Option. In the case of an Incentive Stock Option, Related Rights may be granted only at the time of the grant of the Incentive Stock Option. 
 A Related Right or applicable portion thereof granted in conjunction with a given Stock Option shall terminate and no longer be exercisable upon the
termination or exercise of the related Stock Option, except that, unless otherwise provided by the Administrator at the time of grant, a Related Right granted with respect to less than the full number of shares covered by a related Stock Option
shall only be reduced if and to the extent that the number of shares covered by the exercise or termination of the related Stock Option exceeds the number of shares not covered by the Stock Appreciation Right. 
 A Related Right may be exercised by an optionee, in accordance with paragraph (2) of this Section 6, by surrendering the applicable portion of
the related Stock Option. Upon such exercise and surrender, the optionee shall be entitled to receive an amount determined in the manner prescribed in paragraph (2) of this Section 6. Stock Options which have been so surrendered, in whole
or in part, shall no longer be exercisable to the extent the Related Rights have been so exercised. 
 (2) Terms and Conditions. Stock
Appreciation Rights shall be subject to such terms and conditions, not inconsistent with the provisions of the Plan, as shall be determined from time to time by the Administrator, including the following: 
 (a) Stock Appreciation Rights that are Related Rights (“Related Stock Appreciation Rights”) shall be exercisable only at such time or times and
to the extent that the Stock Options to which they relate shall be exercisable in accordance with the provisions of Section 5 and this Section 6; provided, however, that no Related Stock Appreciation Right shall be
exercisable during the first six months of its term, except that this additional limitation shall not apply in the event of death or Disability of the optionee prior to the expiration of such six-month period. 
  

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 (b) Upon the exercise of a Related Stock Appreciation Right, an optionee shall be entitled to receive up
to, but not more than, an amount in cash or that number of shares of Stock (or in some combination of cash and shares of Stock) equal in value to the excess of the Fair Market Value of one share of Stock as of the date of exercise over the option
price per share specified in the related Stock Option multiplied by the number of shares of Stock in respect of which the Related Stock Appreciation Right is being exercised, with the Administrator having the right to determine the form of payment.

 (c) Related Stock Appreciation Rights shall be transferable or exercisable only when and to the extent that the underlying Stock Option
would be transferable or exercisable under paragraph (6) of Section 5. 
 (d) Upon the exercise of a Related Stock Appreciation
Right, the Stock Option or part thereof to which such Related Stock Appreciation Right is related shall be deemed to have been exercised for the purpose of the limitation set forth in Section 3 on the number of shares of Stock to be issued
under the Plan. 
 (e) A Related Stock Appreciation Right granted in connection with an Incentive Stock Option may be exercised only if and
when the Fair Market Value of the Stock subject to the Incentive Stock Option exceeds the exercise price of such Stock Option. 
 (f) Stock
Appreciation Rights that are Free Standing Rights (“Free Standing Stock Appreciation Rights”) shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Administrator at or after
grant; provided, however, that no Free Standing Stock Appreciation Right shall be exercisable during the first six months of its term, except that this limitation shall not apply in the event of death or Disability of the recipient of
the Free Standing Stock Appreciation Right prior to the expiration of such six-month period. 
 (g) The term of each Free Standing Stock
Appreciation Right shall be fixed by the Administrator, but no Free Standing Stock Appreciation Right shall be exercisable more than ten years after the date such right is granted. 
 (h) Upon the exercise of a Free Standing Stock Appreciation Right, a recipient shall be entitled to receive up to, but not more than, an amount in cash
or that number of shares of Stock (or any combination of cash or shares of Stock) equal in value to the excess of the Fair Market Value of one share of Stock as of the date of exercise over the price per share specified in the Free Standing Stock
Appreciation Right (which price shall be no less than 100% of the Fair Market Value of the Stock on the date of grant) multiplied by the number of shares of Stock with respect to which the right is being exercised, with the Administrator having the
right to determine the form of payment. 
 (i) Free Standing Stock Appreciation Rights shall be transferable or exercisable subject to the
provisions governing the transferability and exercisability of Stock Options set forth in paragraphs (3) and (6) of Section 5. 
  

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 (j) In the event of the termination of an employee who has been granted one or more Free Standing Stock
Appreciation Rights, such rights shall be exercisable to the same extent that a Stock Option would have been exercisable in the event of the termination of the optionee. 
 (k) Limited Stock Appreciation Rights may only be exercised within the 30-day period following a “Change of Control” (as defined in Section 10 below), and, with respect to Limited Stock Appreciation
Rights that are Related Rights (“Related Limited Stock Appreciation Rights”), only to the extent that the Stock Options to which they relate shall be exercisable in accordance with the provisions of Section 5 and this Section 6;
provided, however, that no Related Limited Stock Appreciation Right shall be exercisable during the first six months of its term, except that this additional limitation shall not apply in the event of death or Disability of the
optionee prior to the expiration of such six-month period. 
 (l) Upon the exercise of a Limited Stock Appreciation Right, the recipient
shall be entitled to receive an amount in cash equal in value to the excess of the “Change of Control Price” (as defined in Section 10) of one share of Stock as of the date of exercise over (A) the option price per share
specified in the related Stock Option, or (B) in the case of a Limited Stock Appreciation Right which is a Free Standing Stock Appreciation Right, the price per share specified in the Free Standing Stock Appreciation Right, such excess to be
multiplied by the number of shares in respect of which the Limited Stock Appreciation Right shall have been exercised. 
 (m) For the purpose
of the limitation set forth in Section 3 on the number of shares to be issued under the Plan, the grant or exercise of Free Standing Stock Appreciation Rights shall be deemed to constitute the grant or exercise, respectively, of Stock Options
with respect to the number of shares of Stock with respect to which such Free Standing Stock Appreciation Rights were so granted or exercised. 
 7.
Restricted Stock, Deferred Stock and Performance Shares. 
 (1) General. Restricted Stock, Deferred Stock or Performance Share
awards may be issued either alone or in addition to other awards granted under the Plan. The Administrator shall determine the Eligible Employees to whom, and the time or times at which, grants of Restricted Stock, Deferred Stock or Performance
Share awards shall be made; the number of shares to be awarded; the price, if any, to be paid by the recipient of Restricted Stock, Deferred Stock or Performance Share awards; the Restricted Period (as defined in Section 7(3)) applicable to
Restricted Stock or Deferred Stock awards; the performance objectives applicable to Performance Share or Deferred Stock awards; the date or dates on which restrictions applicable to such Restricted Stock or Deferred Stock awards shall lapse during
such Restricted Period; and all other conditions of the Restricted Stock, Deferred Stock and Performance Share awards. The Administrator may also condition the grant of Restricted Stock, Deferred Stock awards or Performance Shares upon the exercise
of Stock Options, or upon such other criteria as the Administrator may determine, in its sole discretion. The provisions of Restricted Stock, Deferred Stock or Performance Share awards need not be the same with respect to each recipient. 

 

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 (2) Awards and Certificates. The prospective recipient of a Restricted Stock, Deferred Stock or
Performance Share award shall not have any rights with respect to such award, unless and until such recipient has executed an agreement evidencing the award (a “Restricted Stock Award Agreement,” “Deferred Stock Award Agreement,”
or “Performance Share Award Agreement,” as appropriate) and delivered a fully executed copy thereof to the Company, within a period of sixty days (or such other period as the Administrator may specify) after the award date. Except as
otherwise provided below in this Section 7(2), (i) each Participant who is awarded Restricted Stock or Performance Shares shall be issued a stock certificate in respect of such shares of Restricted Stock or Performance Shares; and
(ii) such certificate shall be registered in the name of the Participant, and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such award, substantially in the following form: 
 “The transferability of this certificate and the shares of stock represented hereby are subject to the terms and conditions (including forfeiture) of
the Headlands Mortgage Company 1997 Executive and Non-Employee Director Stock Option Plan and a Restricted Stock Award Agreement or Performance Share Award Agreement entered into between the registered owner and Headlands Mortgage Company. Copies of
such Plan and Agreement are on file in the offices of Headlands Mortgage Company.” 
 The Company shall require that the stock
certificates evidencing such shares be held in the custody of the Company until the restrictions thereon shall have lapsed, and that, as a condition of any Restricted Stock award or Performance Share award, the Participant shall have delivered a
stock power, endorsed in blank, relating to the Stock covered by such award. 
 (3) Restrictions and Conditions. The Restricted Stock,
Deferred Stock and Performance Share awards granted pursuant to this Section 7 shall be subject to the following restrictions and conditions: 
 (a) Subject to the provisions of the Plan and the Restricted Stock, Deferred Stock or Performance Share award agreement, during such period as may be set by the Administrator commencing on the grant date (the “Restricted Period”),
the Participant shall not be permitted to sell, transfer, pledge or assign shares of Restricted Stock, Performance Shares or Deferred Stock awarded under the Plan; provided, however, that the Administrator may, in its sole discretion,
provide for the lapse of such restrictions in installments and may accelerate or waive such restrictions in whole or in part based on such factors and such circumstances as the Administrator may determine, in its sole discretion, including, but not
limited to, the attainment of certain performance related goals, the Participant’s termination, death or Disability or the occurrence of a “Change of Control” as defined in Section 10. 
 (b) Except as provided in paragraph (3)(a) of this Section 7, the Participant shall have, with respect to the shares of Restricted Stock or
Performance Shares, all of the rights of a stockholder of the Company, including the right to vote the shares, and the right to receive any dividends thereon during the Restricted Period. With respect to Deferred Stock awards, the Participant shall
generally not have the rights of a shareholder of the Company, including the right to vote the shares during the Restricted Period; provided, however, that dividends declared during the Restricted Period with respect to the number of
shares covered by a Deferred Stock 
  

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 award shall be paid to the Participant. Certificates for shares of unrestricted Stock shall be delivered to the
Participant promptly after, and only after, the Restricted Period shall expire without forfeiture in respect of such shares covered by the award of Restricted Stock, Performance Shares or Deferred Stock, except as the Administrator, in its sole
discretion, shall otherwise determine. 
 (c) Subject to the provisions of the Restricted Stock, Deferred Stock or Performance Share award
agreement and this Section 7, upon termination of employment for any reason during the Restricted Period, all shares subject to any restriction as of the date of such termination shall be forfeited by the Participant, and the Participant shall
only receive the amount, if any, paid by the Participant for such Restricted Stock or Performance Shares, plus simple interest on such amount at the rate of 8% per year. 
 8. Amendment and Termination. 
 Subject to the provisions of Section 5A(5), the Board may amend,
alter or discontinue the Plan, but no amendment, alteration, or discontinuation shall be made that would impair the rights of a Participant under any award theretofore granted without such Participant’s consent, or that without the approval of
the stockholders (as described below) would: 
 (1) except as provided in Section 3, increase the total number of shares of Stock
reserved for the purpose of the Plan; 
 (2) change the employees or class of employees eligible to participate in the Plan; or 

(3) extend the maximum option period under paragraph (2) of Section 5 of the Plan. 
 Notwithstanding the foregoing, stockholder approval under this Section 8 shall only be required at such time and under such circumstances as
stockholder approval would be required under (a) Rule 16b-3 of the Act with respect to any material amendment to any employee benefit plan of the Company or (b) Sections 162(m), 280G or 422 of the Code. 
 The Administrator may amend the terms of any award theretofore granted, prospectively or retroactively, but, subject to Section 3, no such amendment
shall impair the rights of any holder without his or her consent. 
 9. Unfunded Status of Plan. 
 The Plan is intended to constitute an “unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant or
optionee by the Company, nothing contained herein shall give any such Participant or optionee any rights that are greater than those of a general creditor of the Company. 
 10. Change of Control. 
 The following acceleration and valuation provisions shall apply in the event
of a “Change of Control” as defined in paragraph (2) of this Section 10: 
  

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 (1) In the event of a “Change of Control,” unless otherwise determined by the Administrator or
the Board in writing at or after grant (including under any individual agreement), but prior to the occurrence of such Change of Control: 
 (a) any Stock Appreciation Rights outstanding for at least six months and any Stock Options, including Stock Options granted under Section 5A, awarded under the Plan not previously exercisable and vested shall become fully exercisable
and vested; 
 (b) the restrictions applicable to any Restricted Stock, Deferred Stock or Performance Share awards under the Plan shall
lapse, and such shares and awards shall be deemed fully vested; and 
 (c) the value of all outstanding Stock Options (except Stock Options
granted under Section 5A), DERs, Stock Appreciation Rights, Limited Stock Appreciation Rights, and Restricted Stock, Deferred Stock and Performance Share awards shall, to the extent determined by the Administrator at or after grant, be cashed
out by a payment in cash or other property, as the Administrator may determine, on the basis of the “Change of Control Price” (as defined in paragraph (3) of this Section 10) as of the date the Change of Control occurs or such
other date as the Administrator may determine prior to the Change of Control. 
 (2) For purposes of paragraph (1) of this
Section 10, a “Change of Control” shall be deemed to have occurred if, at any time following an initial public offering of the Stock by the Company: 
 (a) any “person,” as such term is used in Sections 13(d) and 14(d) of the Act (other than the Company; any trustee or other fiduciary holding securities under an employee benefit plan of the Company; or any
company owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of Stock of the Company) is or becomes after the Effective Date the “beneficial owner” (as defined in Rule
13d-3 under the Act), directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such person any securities acquired directly from the Company or its affiliates) representing 25% or more of the
combined voting power of the Company’s then outstanding securities; or 
 (b) during any period of two consecutive years (not including
any period prior to the Effective Date), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a
transaction described in clause (a), (c) or (d) of this Section 10(2)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors
then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority thereof; or 
 (c) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than (A) a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the 
  

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Table of Contents

 surviving entity), in combination with the ownership of any trustee or other fiduciary holding securities under an
employee benefit plan of the Company, at least 75% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation or (B) a merger or consolidation
effected to implement a recapitalization of the Company (or similar transaction) in which no person acquires more than 50% of the combined voting power of the Company’s then outstanding securities; or 
 (d) the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of
all or substantially all of the Company’s assets. 
 (3) For purposes of this Section 10, “Change of Control Price” means
the higher of (i) the highest price per share paid or offered in any transaction related to a Change of Control of the Company or (ii) the highest price per share paid in any transaction reported on the exchange or national market system
on which the Stock is listed, at any time during the preceding sixty day period as determined by the Administrator, except that, in the case of Incentive Stock Options and Stock Appreciation Rights or Limited Stock Appreciation Rights relating to
Incentive Stock Options, such price shall be based only on transactions reported for the date on which the Administrator decides to cash out such options. 
 11. General Provisions. 
 (1) The Administrator may require each person purchasing shares pursuant to a Stock Option to
represent to and agree with the Company in writing that such person is acquiring the shares without a view to distribution thereof The certificates for such shares may include any legend which the Administrator deems appropriate to reflect any
restrictions on transfer. 
 All certificates for shares of Stock delivered under the Plan shall be subject to such stock-transfer orders and
other restrictions as the Administrator may deem advisable under the rules, regulations, and other requirements of the Commission, any stock exchange upon which the Stock is then listed, and any applicable federal or state securities law, and the
Administrator may cause a legend or legends to be placed on any such certificates to make appropriate reference to such restrictions. 
 (2)
Nothing contained in the Plan shall prevent the Board from adopting other or additional compensation arrangements, subject to stockholder approval if such approval is required; and such arrangements may be either generally applicable or applicable
only in specific cases. Neither the adoption of the Plan nor the grant of Stock Options or other benefits under the Plan to any employee of the Company or any Subsidiary shall confer upon any employee any right to continued employment with the
Company or a Subsidiary, as the case may be, or interfere in any way with the right of the Company or a Subsidiary to terminate the employment of any of its employees at any time. 
 (3) Each Participant shall, no later than the date as of which the value of an award first becomes includable in the gross income of the Participant for
federal income tax purposes, pay to the Company, or make arrangements satisfactory to the Administrator regarding payment of, any federal, state, or local taxes of any kind required by law to be withheld with respect to the 
  

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Table of Contents

 award. The obligations of the Company under the Plan shall be conditional on the making of such payments or arrangements,
and the Company (and, where applicable, its Subsidiaries) shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the Participant. 
 (4) No member of the Board or the Administrator, nor any officer or employee of the Company acting on behalf of the Board or the Administrator, shall be
personally liable for any action, determination, or interpretation taken or made in good faith with respect to the Plan, and all members of the Board or the Administrator and each and any officer or employee of the Company acting on their behalf
shall, to the extent permitted by law, be fully indemnified and protected by the Company in respect of any such action, determination or interpretation. 
 (5) The Administrator may appoint from time to time one or more financial institutions to act as Plan financial agent to facilitate the exercise by Participants of Stock Options and other benefits granted or awarded
under the Plan and to assist the Administrator with recordkeeping, accounting and taxation requirements under the Plan. The Administrator may encourage Participants to take any actions required to permit the Plan financial agent to perform its
services, including but not limited to opening accounts with the Plan financial agent. 
 12. Effective Date of Plan. 
 The Plan became effective (the “Effective Date”) on September 15, 1997, the date the Company’s stockholders formally approved the
Plan. 
 13. Term of Plan. 
 No Stock
Option, Stock Appreciation Right, Limited Stock Appreciation Right, Restricted Stock, Deferred Stock or Performance Share award shall be granted pursuant to the Plan on or after the tenth anniversary of the Effective Date, but awards theretofore
granted may extend beyond that date. 
  

 26Exhibit 4.12

 Exhibit 4.12 
 GREENPOINT FINANCIAL CORP. 
 AMENDED AND RESTATED 
 1994 STOCK INCENTIVE PLAN 
 1. Purpose.

 The purpose of the GREENPOINT FINANCIAL CORP. Amended and Restated 1994 Stock Incentive Plan (the “Plan”) is to advance the
interests of GreenPoint Financial Corp. (the “Holding Company” or “Company”), its shareholders and its present and future Affiliates (as that term is defined below), by providing those key employees of the Holding Company and its
Affiliates, including GreenPoint Bank (the “Savings Bank”), upon whose judgment, initiative and efforts the successful conduct of the business of the Holding Company and its Affiliates largely depends, with additional incentive to perform
in a superior manner. A purpose of the Plan is also to attract people of experience and ability to the service of the Holding Company and its Affiliates. 
 2. Definitions. 
 (a) “Affiliate” means (i) a member of a controlled group of corporations of which the
Holding Company is a member or (ii) an unincorporated trade or business which is under common control with the Holding Company as determined in accordance with Section 414(c) of the Internal Revenue Code of 1986, as amended (the
“Code”), and the regulations issued thereunder. For purposes hereof, a “controlled group of corporations” shall mean a controlled group of corporations as defined in Section 1563(a) of the Code determined without regard to
Sections 1563(a)(4) and (e)(3)(C). 
 (b) “Award” means a grant of Non-statutory Stock Options, Incentive Stock Options, Limited
Rights and/or Restricted Stock under the provisions of this Plan. 
 (c) “Board of Directors” or “Board” means the board
of directors of the Holding Company. 
 (d) “Change in Control” means 
 A. the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (i) the then outstanding shares of common stock
of the Company (the “Outstanding Company Common Stock”) or (ii) 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 (a), the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company,
(iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (iv) any acquisition by any corporation pursuant to a transaction which complies
with clauses (i), (ii) and (iii) of paragraph C; or 

 B. individuals who, as of August 1, constitute the Board (the “Incumbent
Board”) cease for any reason not to constitute at least a majority of the Board, provided, however, that any individual becoming a director subsequent to August 1 whose election, or nomination for election by the Company’s
shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual
whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person
other than the Board; or 
 C. consummation of a reorganization, merger or consolidation or sale or other disposition of all
or substantially all of the assets of the Company (a “Business Combination”), in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial owners,
respectively, of the Outstanding Company Common 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 which 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 as their ownership,
immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any employee benefit plan (or related trust) of the Company or such
corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 20% 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 existed prior to the Business Combination and (iii) 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 
 D. approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 
 (e) “Code” means the Internal Revenue Code of 1986, as amended. 
 (f) “Commission” means the Securities and Exchange Commission. 
 (g) “Committee” means
the Compensation Committee, which is a committee consisting of at least three members of the Board of Directors, all of whom are “non-employee directors” as such term is defined under Rule 16b-3 under the Exchange Act, as promulgated by
the Commission and are “outside directors” as such term is defined under Section 162(m) of the Code. 
  

 2 

 (h) “Common Stock” means the Common Stock of the Holding Company, par value $.01 per share.

 (i) “Date of Grant” means the date an Award granted by the Committee is effective pursuant to the terms hereof. 
 (j) “Disability” means disability as defined in the Savings Bank’s retirement plan, or if not so defined, shall mean the permanent and
total inability of an employee by reason of mental or physical infirmity, or both, to perform the work customarily assigned to him. In order to qualify as a Disability, a medical doctor selected or approved by the Board of Directors, and
knowledgeable in the field of such infirmity, must advise the Committee either that it is not possible to determine when such Disability will terminate or that it appears probable that such Disability will be permanent during the remainder of said
participant’s lifetime. 
 (k) “Fair Market Value” means as of any given date, the closing price of the Common Stock on the
National Association of Securities Dealers, Inc. Automated Quotation System (“NASDAQ”) or on any national exchange on which the Common Stock is listed. If there is no regular public trading market for such Common Stock, the Fair Market
Value of the Common Stock shall be determined by the Committee. For purposes of the grant of Options at the time of the conversion of the Savings Bank, Fair Market Value shall mean the initial public offering price of the Common Stock. 

(l) “Incentive Stock Option” means an Option granted by the Committee to a Participant, which Option is designated by the Committee as an
Incentive Stock Option pursuant to Section 8. 
 (m) “Limited Right” means the right to receive an amount of cash based upon
the terms set forth in Section 9. 
 (n) “Non-statutory Stock Option” means an Option granted by the Committee to a
Participant, which is not designated by the Committee as an Incentive Stock Option. 
 (o) “Option” means an Award granted under
Section 7 or Section 8. 
 (p) “Participant” means an employee of the Holding Company or its Affiliates chosen by the
Committee to receive Incentive Stock Options, Non-statutory Stock Options and/or Limited Rights under the Plan, subject to the terms of Section 6. 
 (q) “Plan Year(s)” means a calendar year or years commencing on or after January 1, 1994. 
 (r) “Restricted Stock” means an Award granted under Section 11. 
  

 3 

 (s) “Retirement” means retirement from the employ of the Holding Company or its Affiliates at
the normal or early retirement date as set forth in any tax-qualified retirement/pension plan of the Savings Bank. 
 (t) “Termination
for Cause” means the termination upon an intentional failure to perform stated duties, willful misconduct, breach of a fiduciary duty involving personal profit, or acts or omissions of personal dishonesty, any of which results in material loss
to the Holding Company or one of its Affiliates or, any willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order which results in material loss to the Holding Company or one
of its Affiliates. 
 3. Administration. 
 Subject to the express provisions of the Plan, the Committee shall have the plenary authority in its discretion to determine when and to whom Awards shall be granted and the number of shares to be covered by each Award; to interpret the
Plan and to prescribe, amend and rescind rules and regulations relating to it; to determine the terms and provisions of the respective Award agreements; to modify, amend or adjust the terms and conditions of any Award, at any time and from time to
time; and to make all other determinations deemed necessary or advisable for administering the Plan. The Committee’s determination on the foregoing matters shall be conclusive on all Participants in the Plan and on their legal representatives
and beneficiaries. 
 The Board of Directors may from time to time appoint members of the Committee in substitution for, or in addition to,
members previously appointed and may fill vacancies, however caused, in the Committee. The Committee shall select one of its members as its chairman and shall hold its meetings at such times and places as it shall deem advisable. A majority of its
members shall constitute a quorum. All determinations of the Committee shall be made by a majority of its members eligible to vote. Any decision or determination reduced to writing and signed by a majority of the members shall be fully as effective
as if it had been made by a majority vote at a meeting duly called and held. The Committee may appoint a secretary, shall keep minutes of its meetings and shall make such rules and regulations for the conduct of its business as it shall deem
advisable. The Committee may also designate the Secretary or any Assistant Secretary of the Holding Company or other employees of the Holding Company or any of its Affiliates to assist the Committee in the administration of the Plan and may grant
authority to such persons to execute Option agreements or other documents on behalf of the Committee. 
 No member of the Board or the
Committee shall be liable for any determination made in good faith with respect to the Plan. If a member of the Board or the Committee is a party, or is threatened to be made a party, to any threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or investigative, by reason of anything done or not done by him in such capacity under or with respect to the Plan, the Holding Company shall indemnify such member against expenses (including
attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in the best
interests of the Holding Company and its Affiliates and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful, provided, 
  

 4 

 however, that no indemnification may be made if a judgment or adjudication establishes that his acts were the result of
active and deliberate dishonesty and were material to the cause of action so adjudicated or that he personally gained in fact a financial profit or other advantage to which he was not legally entitled. 
 4. Types of Awards. 
 Awards under the Plan may be
granted in any one or a combination of: 
 A. Non-statutory Stock Options; 
 B. Incentive Stock Options; 
 C. Limited
Rights; and 
 D. Restricted Stock 
 as defined
below in Sections 7 through 11. 
 5. Stock Subject to the Plan. 
 Subject in each case to adjustment as provided in Section 15, the maximum number of shares of Common Stock available for grant under the Plan is 10,800,000 shares of Common Stock, provided that no more than
7,850,000 shares may be granted as Incentive Stock Options. These shares of Common Stock may be either authorized but unissued shares or shares previously issued and reacquired by the Holding Company (including treasury shares). To the extent that
Options or Limited Rights are granted under the Plan, the shares underlying such Options will be unavailable for future grants under the Plan except that, to the extent that Options (and any Limited Rights related thereto) granted under the Plan
terminate, expire or are cancelled without having been exercised in full (or in the case of Limited Rights, exercised for cash), the corresponding number of unpurchased shares which were reserved for issuance upon exercise thereof shall again be
available for the purposes of the Plan, and new Awards may be made with respect to these shares. If any shares of Restricted Stock are forfeited for which the participant did not receive any benefits of ownership (as such phrase is construed by the
Commission), such Awards shall again be available for distribution under the Plan. 
 6. Eligibility. 
 Only persons who, on the Date of Grant, are regular salaried officers or other key employees of the Holding Company or its Affiliates shall be eligible to
be Participants hereunder, provided that in no event shall any Options be granted that will violate the Articles of Incorporation or Bylaws of the Holding Company or any applicable federal or state law, regulation or order. Directors who are not
such regularly salaried employees or officers of the Holding Company or its Affiliates shall not be eligible to be Participants. A Participant who has been granted an Award under the Plan may be granted an additional Award or Awards. 
 In determining the employees to whom Awards shall be granted and the number of shares to be covered by each Award, the Committee shall take into account
the duties of the respective 
  

 5 

 employees, their present and potential contributions to the success of the Holding Company and its Affiliates, the
anticipated number of years of effective service remaining and such other factors as the Committee shall deem relevant in connection with accomplishing the purposes of the Plan. 
 7. Non-statutory Stock Options. 
 The Committee may, from time to time, grant Non-statutory Stock
Options to Participants and, upon such terms and conditions as the Committee may determine, grant Non-statutory Stock Options in exchange for and upon surrender of previously granted Awards under this Plan, provided that, subject to adjustment as
provided in Section 15, no participant may be granted Options (both Non-statutory and Incentive Stock Options) covering more than 800,000 shares in any one calendar year (the “Maximum Grant”). Non-statutory Stock Options granted under
this Plan are subject to the following terms and conditions: 
 (a) Price. The purchase price per share of Common Stock deliverable
upon the exercise of each Non-statutory Stock Option shall be determined by the Committee on the Date of Grant. Such purchase price shall not be less than 100% of the Fair Market Value of the Holding Company’s Common Stock on the Date of Grant.
Shares may be purchased only upon full payment of the purchase price. Non-statutory Stock Options may be exercised pursuant to a “cashless exercise” (i.e., payment of the purchase price may be made, in whole or in part, through the
surrender of shares by the Participant of Common Stock at the Fair Market Value of such shares on the date of surrender determined in the manner described in Section 2(k)), in accordance with applicable securities laws. 
 In the discretion of the Committee, payment for any shares subject to an Option may also be made by delivering a properly executed exercise notice to the
Company, together with a copy of irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds to pay the purchase price, and, if requested by the amount of any federal, state, local or foreign
withholding taxes. To facilitate the foregoing, the Company may enter into agreements for coordinated procedures with one or more brokerage firms. 
 (b) Terms of Non-statutory Stock Options. The term during which each Non-statutory Stock Option may be exercised shall be determined by the Committee, but in no event shall a Non-statutory Stock Option be exercisable in whole or in
part more than 10 years from the Date of Grant. The Committee shall determine the date on which each Non-statutory Stock Option shall become exercisable and may provide that a Non-statutory Stock Option shall become exercisable in installments. The
shares comprising each installment may be purchased in whole or in part at any time after such installment becomes purchasable, subject to the terms of the Option agreement made pursuant to Section 13. The Committee may, in its sole discretion,
accelerate the time at which any Non-statutory Stock Option may be exercised in whole or in part. Notwithstanding the above, in the event of a Change in Control, all Non-statutory Stock Options shall become immediately exercisable. 
 (c) Termination of Employment. Upon the termination of a Participant’s service for any reason other than Disability, Retirement, Change in
Control, death, or Termination for Cause, the Participant’s Non-statutory Stock Options shall be exercisable only as to those shares 
  

 6 

 which were immediately purchasable by the Participant at the date of termination and only for a period of three months
following termination. In the event of Termination for Cause, all rights under the Participant’s Non-statutory Stock Options shall expire upon such Termination for Cause. In the event of the death or Disability of any Participant, or upon
termination following a Change in Control, all Non-statutory Stock Options held by the Participant, whether or not exercisable at such time, shall be exercisable in full by the Participant or the legal representatives or beneficiaries of the
Participant for one year or for such shorter or longer period as determined by the Committee on the Date of Grant, provided that in no event shall the period extend beyond the expiration of the Non-statutory Stock Option term as originally granted.
In the event of the Retirement of any Participant (i) all Non-statutory Stock Options held by the Participant which were granted to the Participant before January 1, 1997, whether or not exercisable at such time, shall be exercisable in
full by the Participant for one year or such shorter or longer period as determined by the Committee on the Date of Grant, provided that in no event shall the period extend beyond the expiration of the Non-statutory Stock Option term as originally
granted, and (ii) unless otherwise determined by the Committee, all Non-statutory Stock Options held by the Participant which were granted to the Participant after December 31, 1996 shall be exercisable only as to those shares which were
immediately purchasable by the Participant at the date of Retirement for one year or such shorter or longer period as determined by the Committee on the Date of Grant, provided that in no event shall the period extend beyond the expiration of the
Non-statutory Stock Option term as originally granted. 
 For purposes of the Plan and each Option granted under the Plan, a
Participant’s employment shall be deemed to have terminated at the close of business on the day preceding the first date on which he is no longer for any reason whatsoever employed by the Holding Company or any of its Affiliates; provided,
however, that the Committee may deem in one or more particular cases that a leave of absence granted by the Holding Company or its Affiliate shall not result in the termination of the Participant’s employment. For purposes of the Plan and each
Option granted under the Plan, a transfer of an employee from the Holding Company to an Affiliate or vice versa shall not result in the termination of such Participant’s employment. 
 8. Incentive Stock Options. 
 Subject to the Maximum
Grant, the Committee may, from time to time, grant Incentive Stock Options to Participants. Incentive Stock Options granted pursuant to the Plan shall be subject to the following terms and conditions: 
 (a) Price. The purchase price per share of Common Stock deliverable upon the exercise of each Incentive Stock Option shall be not less than 100% of
the Fair Market Value of Common Stock on the Date of Grant. However, if a Participant owns stock possessing more than 10% of the total combined voting power of all classes of common stock of the Holding Company (or, under Section 424(d) of the
Code, is deemed to own common stock of the Holding Company representing more than 10% of the total combined voting power of all such classes of common stock by reason of the ownership of such classes of common stock, directly or indirectly, by or
for any brother, sister, spouse, ancestor or lineal descendent of such employee, or by or for any corporation, partnership, estate or trust of which such employee is a shareholder, partner or beneficiary), the purchase price per share of Common
Stock deliverable upon the exercise of each Incentive Stock Option shall not be less than 110% of the Fair Market Value of 
  

 7 

 Common Stock on the Date of Grant. Shares may be purchased only upon payment of the full purchase price. Incentive Stock
Options may be exercised pursuant to a “cashless exercise” (i.e., payment of the purchase price may be made, in whole or in part, through the surrender of shares by the Participant of Common Stock at the Fair Market Value of such
shares on the date of surrender determined in the manner described in Section 2(k)), in accordance with applicable securities laws. 
 (b) Amounts of Incentive Stock Options. Incentive Stock Options may be granted to any eligible employee in such amounts as determined by the Committee. The aggregate Fair Market Value (determined as of the Date of Grant) of Common
Stock with respect to which Incentive Stock Options granted are exercisable for the first time by the Participant during any calendar year (together with any incentive stock options under all other plans of the Participant’s employer
corporation and its parent and subsidiary corporations) shall not exceed $100,000. The provisions of this Section 8(b) shall be construed and applied in accordance with Section 422(d) of the Code and the regulations, if any, promulgated
thereunder. To the extent an Award by its terms purported to be an Incentive Stock Option under this Section 8 exceeds this $100,000 limit, the portion of the Award in excess of such limit shall be deemed a Non-statutory Stock Option.

 (c) Terms of Incentive Stock Options. The term during which each Incentive Stock Option may be exercised shall be determined by the
Committee, but in no event shall an Incentive Stock Option be exercisable in whole or in part more than ten (10) years from the Date of Grant. If at the time an Incentive Stock Option is granted to an employee, the employee owns Common Stock
representing more than 10% of the total combined voting power of the Holding Company (or, under Section 424(d) of the Code, is deemed to own Common Stock representing more than 10% of the total combined voting power of all such classes of
Common Stock, by reason of the ownership of such classes of Common Stock, directly or indirectly, by or for any brother, sister, spouse, ancestor or lineal descendent of such employee, or by or for any corporation, partnership, estate or trust of
which such employee is a shareholder, partner or beneficiary), the Incentive Stock Option granted to such employee shall not be exercisable after the expiration of five (5) years from the Date of Grant. No Incentive Stock Option granted under
this Plan is transferable except by will or the laws of descent and distribution and is exercisable in his lifetime only by the employee to whom it is granted. 
 The Committee shall determine the date on which each Incentive Stock Option shall become exercisable and may provide that an Incentive Stock Option shall become exercisable in installments. The shares comprising each
installment may be purchased in whole or in part at any time after such installment becomes purchasable, subject to the terms of the Option agreement made pursuant to Section 12, provided that the amount able to be first exercised in a given
year is consistent with the terms of Section 422 of the Code. The Committee may, in its sole discretion, accelerate the time at which any Incentive Stock Option may be exercised, in whole or in part, provided that it is consistent with the
terms of Section 422 of the Code. Notwithstanding the above, in the event of a Change in Control, all Incentive Stock Options shall become immediately exercisable. 
 (d) Termination of Employment. Upon the termination of a Participant’s service for any reason other than Disability, Retirement, Change in Control, death, or Termination for 
  

 8 

 Cause, the Participant’s Incentive Stock Options shall be exercisable only as to those shares which were immediately
purchasable by the Participant at the date of termination and only for a period of three months following termination. In the Event of Termination for Cause all rights under the Participant’s Incentive Stock Options shall expire upon such
Termination for Cause. 
 In the event of death or Disability of any Participant, all Incentive Stock Options held by such Participant,
whether or not exercisable at such time, shall be exercisable in full by the Participant or the Participant’s legal representatives or beneficiaries for one year following the date of the Participant’s death or cessation of employment due
to Disability. Upon termination of the Participant’s service due to a Change in Control, all Incentive Stock Options held by such Participant, whether or not exercisable at such time, shall be exercisable in full for a period of one year or
such shorter or longer period as determined by the Committee at the Date of Grant, provided, however, that such Option shall not be an Incentive Stock Option under this Plan in the event such Option is exercised more than three months following the
date of the Participant’s termination due to a Change in Control. Upon termination of the Participant’s service due to Retirement (i) all Incentive Stock Options held by such Participant which were granted to the Participant before
January 1, 1997, whether or not exercisable at such time, shall be exercisable in full for a period of one year or such shorter or longer period as determined by the Committee at the Date of Grant, and (ii) unless otherwise determined by
the Committee, all Incentive Stock Options held by such Participant which were granted to the Participant after December 31, 1996 shall be exercisable only as to those shares which were immediately purchasable by the Participant at the date of
termination due to Retirement for a period of one year or such shorter or longer period as determined by the Committee at the Date of Grant; provided, however, that in either case, such Option shall not be an Incentive Stock Option under this Plan
in the event such Option is exercised more than three months following the date of the Participant’s termination due to Retirement. In no event shall the exercise period extend beyond the expiration of the Incentive Stock Option term as
originally granted. 
 For purposes of the Plan and each Option granted under the Plan, a Participant’s employment shall be deemed to
have terminated at the close of business on the day preceding the first date on which he is no longer for any reason whatsoever employed by the Holding Company or any of its Affiliates; provided, however, that the Committee may deem in one or more
particular cases that a leave of absence granted by the Holding Company or its Affiliate shall not result in the termination of the Participant’s employment. For purposes of the Plan and each Option granted under the Plan, a transfer of an
employee from the Holding Company to an Affiliate or vice versa shall not result in the termination of such Participant’s employment. 
 (e) Compliance with Code. Except as otherwise specified in Section 8(d), the Options granted under this Section 8 of the Plan are intended to qualify as “incentive stock options” within the meaning of
Section 422 of the Code, but the Company makes no warranty as to the qualification of any Option as an “incentive stock option” within the meaning of Section 422 of the Code. 
  

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 9. Limited Rights. 
 Simultaneously with the grant of any Option, the Committee may grant a Limited Right with respect to all or some of the shares covered by such Option. Limited Rights granted under this Plan are subject to the
following terms and conditions: 
 (a) Terms of Limited Rights. In no event shall a Limited Right be exercisable in whole or in part
before the expiration of six months from the Date of Grant of the Limited Right. A Limited Right may be exercised only in the event of a Change in Control. 
 A Limited Right may be exercised only when the underlying Option is eligible to be exercised, and only when the Fair Market Value of the shares of Common Stock covered by the underlying Option on the day of exercise
is greater than the exercise price of the related Option. 
 Upon exercise of a Limited Right, the related Option shall cease to be
exercisable. Upon exercise or termination of an Option, any related Limited Rights shall terminate to the extent such Option has been exercised or terminated. The Limited Rights may be for no more than 100% of the difference between the exercise
price and the Fair Market Value of the common Stock subject to the underlying Option. The Limited Right is transferable only when the underlying option is transferable and under the same conditions. 
 (b) Payment. Upon exercise of a Limited Right, the holder shall promptly receive from the Holding Company at amount of cash equal to the
difference between the Fair Market Value on the Date of Grant of the related Option and the Fair Market Value of the underlying shares on the date the Limited Right is exercised, multiplied by the number of shares with respect to which such Limited
Right is being exercised. 
 (c) Termination of Employment. Subject to the terms of Section 9(a), upon the termination of a
Participant’s service for any reason other than Termination for Cause, any Limited Rights held by the Participant shall then be exercisable by the Participant or the Participant’s legal representative or beneficiaries for a period of one
year following termination. In no event shall the period extend beyond the expiration of the term of the related Option. In the event of Termination for Cause, all Limited Rights held by the Participant shall expire immediately. 
 For purposes of the Plan and each Option granted under the Plan, a Participant’s employment shall be deemed to have terminated at the close of
business on the day preceding the first date on which he is no longer for any reason whatsoever employed by the Holding Company or any of its Affiliates; provided, however, that the Committee may deem in one or more particular cases that a leave of
absence granted by the Holding Company or its Affiliate shall not result in the termination of the Participant’s employment. For purposes of the Plan and each Option granted under the Plan, a transfer of an employee from the Holding Company to
an Affiliate or vice versa shall not result in the termination of such Participant’s employment. 
 Notwithstanding the
foregoing, if any right granted pursuant to this Section 9 would make a Change in Control transaction ineligible for pooling of interests accounting under APB No. 16 that but for this Section 9 would otherwise be eligible for such
accounting treatment, the Committee shall have the ability to substitute for the cash otherwise payable pursuant to this Section 9, Stock with a Fair Market Value equal to the cash that would otherwise be payable hereunder. 
  

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 10. Surrender of Option. 
 In the event of a Participant’s termination of employment as a result of death, Disability or Retirement, the Participant (or the Participant’s personal representative(s), heir(s), or devisee(s)) may, in a
form acceptable to the Committee make application to the Committee to surrender all or part of Options held by such Participant in exchange for a cash payment from the Holding Company of an amount equal to the difference between the Fair Market
Value of the Common Stock on the date of termination of employment and the exercise price per share of the Option on the Date of Grant; provided, however, that in the event of Retirement, the application must be submitted by the Participant within a
“window period” as defined in Rule 16b-3(e)(3) under Section 16 of the Exchange Act. Whether the Committee accepts such application or determines to make payment, in whole or part, is within its absolute and sole discretion, it being
expressly understood that the Committee is under no obligation to any Participant whatsoever to make such payments. In the event that the Committee accepts such application and the Company determines to make payment, such payment shall be in lieu of
the exercise of the underlying Option and such Option shall cease to be exercisable. 
 11. Restricted Stock. 
 (a) Administration. Shares of Restricted Stock may be awarded either alone or in addition to other Awards granted under the Plan. The Committee
shall determine the officers and employees to whom and the time or times at which grants of Restricted Stock will be awarded, the number of shares to be awarded to any participant, the time or times within which such Awards may be subject to
forfeiture and any other terms and conditions of the Awards, in addition to those contained in Section 11(c). The Committee shall determine the conditions for vesting of shares of Restricted Stock; provided, however, that no shares of
Restricted Stock shall vest prior to three years from the date of grant. Notwithstanding the previous sentence, the Committee shall have discretion to permit vesting of shares of Restricted Stock prior to three years from the date of grant under
limited circumstances if the Committee determines that such earlier vesting is necessary to fulfill a legitimate corporate purpose such as retention of a key employee. 
 The Committee may condition the grant and vesting of Restricted Stock upon the attainment of specified performance goals of the participant or of the Company or subsidiary, division or department of the Company for or
within which the participant is primarily employed or upon such other factors or criteria as the Committee shall determine. The provisions of Restricted Stock Awards need not be the same with respect to each recipient. 
 (b) Awards and Certificates. Shares of Restricted Stock shall be evidenced in such manner as the Committee may deem appropriate, including
book-entry registration or issuance of one or more stock certificates. Any certificate issued in respect of shares of Restricted Stock shall be registered in the name of such participant and shall bear an appropriate legend referring to the terms,
conditions, and restrictions applicable to such Award, substantially in the following form: 
  

 11 

 “The transferability of this certificate and the shares of stock represented hereby are subject to
the terms and conditions (including forfeiture) of the GreenPoint Financial Corp. Amended and Restated 1994 Stock Incentive Plan and a Restricted Stock Agreement. Copies of such Plan and Agreement are on file at the offices of GreenPoint Financial
Corp., 90 Park Avenue, New York, New York 10016.” 
 The Committee may require that the certificates evidencing such shares be held in
custody by the Company until the restrictions thereon shall have lapsed and that, as a condition of any Award of Restricted Stock, the participant shall have delivered a stock power, endorsed in blank, relating to the Stock covered by such Award.

 (c) Terms and Conditions. Shares of Restricted Stock shall be subject to the following terms and conditions: 
 (i) Subject to the provisions of the Plan and the Restricted Stock Agreement referred to in Section 11(c)(vi), during a period set by
the Committee, commencing with the date of such Award (the “Restriction Period”), the participant shall not be permitted to sell, assign, transfer, pledge or otherwise encumber shares of Restricted Stock. The Committee may provide for the
lapse of such restrictions in installments or otherwise and may accelerate or waive such restrictions, in whole or in part, in each case based on period of service, performance of the participant or of the Company or the subsidiary, division or
department for which the participant is employed or such other factors or criteria as the Committee may determine. 
 (ii)
Except as provided in this paragraph (ii) and Section 11(c)(i) and the Restricted Stock Agreement, the participant shall have, with respect to the shares of Restricted Stock, all of the rights of a stockholder of the Company holding the
class or series of Stock that is the subject of the Restricted Stock, including, if applicable, the right to vote the shares and the right to receive any cash dividends. If so determined by the Committee in the applicable Restricted Stock Agreement,
(1) cash dividends on the shares of Stock that are the subject of the Restricted Stock Award shall be automatically deferred and reinvested in additional Restricted Stock, and (2) dividends payable in Stock shall be paid in the form of
Restricted Stock. 
 (iii) Except to the extent otherwise provided in the applicable Restricted Stock Agreement and Sections
11(c)(i) and 11(c)(iv), upon a participant’s termination of employment for any reason during the Restriction Period, all shares still subject to restriction shall be forfeited by the participant. 
 (iv) In the event of a participant’s termination of employment for any reason other than Termination for Cause, the Committee shall
have the discretion to waive in whole or in part any or all remaining restrictions with respect to any or all of such participant’s shares of Restricted Stock. 
 (v) If and when the Restriction Period expires without a prior forfeiture of the Restricted Stock subject to such Restriction Period,
unlegended certificates for such shares shall be delivered to the participant upon surrender of the legended certificates. 
  

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 (vi) Each Award shall, if required by law, require the payment of the total par value of
the Stock by the participant to the Company and shall be confirmed by, and be subject to the terms of, a Restricted Stock Agreement. 
 (vii) Notwithstanding the foregoing, all restrictions to which shares of Restricted Stock are subject shall lapse immediately upon a Change in Control. 
 12. Rights of a Shareholder; Nontransferability. 
 No Participant shall have any rights as a shareholder with respect to any
shares covered by a Non-statutory and/or Incentive Stock Option until the date of issuance of a stock certificate for such shares, which shall be deemed to be the date the Participant becomes the record owner of such shares on the books of the
Holding Company. Nothing in this Plan or in any Award granted confers on any person any right to continue in the employ of the Holding Company or its Affiliates or to continue to perform services for the Holding Company or its Affiliates or
interferes in any way with the right of the Holding Company or its Affiliates to terminate a Participant’s services as an officer or other employee at any time. Options granted under the Plan shall not be affected by any change of duties or
positions so long as the Participant continues to be an employee of the Holding Company or an Affiliate. 
 Nothing contained in the Plan or
in any resolution adopted or to be adopted by the Board of Directors of the Holding Company or any of its Affiliates or the holders of Common Stock shall constitute the granting of an Option hereunder. The granting of an Option pursuant to the Plan
shall take place on the day the Committee determines, pursuant to its authority under Section 3, to be the Date of Grant. 
 Except as
otherwise provided in the immediately succeeding sentences with respect to Options, no Award under the Plan shall be transferable by the optionee other than by will or the laws of descent and distribution and may only be exercised during his
lifetime by the optionee, or by a guardian or legal representative. No Option shall be transferable by the optionee other than (i) by will or the laws of descent and distribution; or (ii) in case of a Non-statutory Stock Option, as
otherwise expressly permitted by the Committee, including, if so permitted, pursuant to a transfer to such optionee’s immediate family, whether directly or indirectly or by means of a trust or partnership or otherwise. For purposes of this
Plan, unless otherwise determined by the Committee, “immediate family” shall mean the optionee’s children, spouse and grandchildren. All Options shall be exercisable, subject to the terms of this Plan, only by the optionee, the
guardian or legal representative of the optionee, or any person to whom such option is transferred pursuant to this paragraph, it being understood that the term “holder” and “optionee” include such guardian, legal representative
and other transferee. 
 13. Agreement with Grantees. 
 Each Award of Options, and/or Limited Rights will be evidenced by a written Stock Option Agreement, executed by the Participant and the Holding Company or its Affiliates which describes the conditions for receiving
the Awards including the date of Award, the purchase price if any, applicable periods, and any other terms and conditions as may be required by the Board of Directors or applicable securities law, including, in the case of Awards of Incentive

  

 13 

 Stock Options, such terms and provisions as shall be requisite in the judgment of the Committee to provide for Options
which qualify as “incentive stock options” as defined in Section 422 of the Code, including, but not by way of limitation, any amendment of the Code which supersedes Section 422, as amended. However, no Option granted by the
Committee may be exercised after thirty (30) days after the Date of Grant unless prior to said thirtieth (30th) day a written Stock Option Agreement shall have been duly executed and delivered by the Participant, or on the
Participant’s behalf by the Participant’s agent or attorney. 
 14. Designation of Beneficiary. 
 A Participant may, with the consent of the Committee, designate a person or persons to receive, in the event of death, any Award to which the Participant
would then be entitled. Such designation will be made upon forms supplied by and delivered to the Holding Company and may be revoked in writing. If a Participant fails effectively to designate a beneficiary, then the Participant’s estate will
be deemed to be the beneficiary. 
 15. Dilution and Other Adjustments. 
 In the event of any change in the outstanding shares of Common Stock of the Holding Company by reason of any stock dividend or split, recapitalization, merger, consolidation, spin-off, reorganization, combination or
exchange of shares, or other similar corporate change, or other increase or decrease in such shares effected without receipt or payment of consideration by the Company, the Committee will make such adjustments to previously granted Awards, to
prevent dilution or enlargement of the rights of the Participant as it deems equitable in its sole discretion, including, without limitation, any or all of the following: 
 (a) adjustments in the aggregate number or kind of shares of Common Stock which may be awarded under the Plan; 
 (b) adjustments in the aggregate number or kind of shares of Common Stock covered by Awards already made under the Plan; 
 (c)
adjustments in the purchase price of outstanding Incentive and/or Non-statutory Stock Options, or any Limited Rights attached to such Options. 
 No such adjustments may, however, materially change the value of benefits available to a Participant under a previously granted Award. 
 16.
Withholding. 
 There may be deducted from each distribution of cash and/or Common Stock under the Plan the amount of tax required by any
governmental authority to be withheld. Alternatively, a Participant may pay to the Company the amount of cash necessary to be withheld for taxes in lieu of any withholding of payments or distributions under this Plan. If a Participant elects to have
such taxes withheld, the election must be made in compliance with Rule 16b-3 in order to receive exemptive treatment. 
  

 14 

 17. Amendment of the Plan. 
 The Board of Directors may at any time, and from time to time, modify or amend the Plan in any respect; provided, however, that Sections 7, 8 and 11 governing grants shall not be amended more than once every six
months other than to comport with the Code or the Employee Retirement Income Security Act of 1974, as amended, if applicable, and, provided further, that if it has been determined by the Board of Directors to continue to qualify the Plan under the
Securities and Exchange Commission Rule 16b-3, shareholder approval shall be required for any such modification or amendment which: 
 (a)
increases the maximum number of shares for which Options may be granted under the Plan (subject, however, to the provisions of Section 15 hereof); 
 (b) reduces the exercise price at which Awards may be granted (subject, however, to the provisions of Section 15 hereof); 
 (c) extends the period during which Options may be granted or exercised beyond the times originally prescribed; or 
 (d) changes the persons eligible to participate in the Plan. 
 Failure to ratify or approve amendments or modifications to
subsections (a) through (d) of this Section by shareholders shall be effective only as to the specific amendment or modification requiring such ratification. Other provisions, sections, and subsections of this Plan will remain in full
force and effect. 
 No such termination, modification or amendment may affect the rights of a Participant under an outstanding Award.

 18. Effective Date of Plan. 
 The Plan
shall become effective upon the consummation of the conversion of The Green Point Savings Bank from the mutual to capital stock form of ownership (the “Effective Date”) on January 28, 1994. The Plan shall be presented to shareholders
of the Holding Company for ratification for purposes of: (i) obtaining favorable treatment under Section 16(b) of the Exchange Act; (ii) satisfying one of the requirements of Section 422 of the Code governing the treatment for
Incentive Stock Options; and (iii) maintaining listing on the NASDAQ National Market, provided, however, that if the Plan is not ratified within twelve (12) months of the Effective Date, the Plan shall remain in full force and effect, and
any Incentive Stock Options granted under the Plan shall be deemed to be Non-statutory Stock Options provided that no grants may be made to an executive officer of the Company who was an executive officer on the date of the conversion unless this
Plan is ratified by shareholders. 
 19. Termination of the Plan. 
 The right to grant Awards under the Plan will terminate upon the earlier of (i) ten (10) years after the Effective Date of the Plan or (ii) the issuance of Common Stock or the exercise of Options or
related Limited Rights equivalent to the maximum number of shares reserved under 
  

 15 

 the Plan as set forth in Section 5. The Board of Directors has the right to suspend or terminate the Plan at any
time, provided that no such action will, without the consent of a Participant, adversely affect his rights under a previously granted Award. 
 20.
Applicable Law. 
 The Plan will be administered in accordance with the laws of the State of Delaware. 
 21. Government and Other Regulations. 
 The obligation
of the Holding Company to sell and deliver shares of Common Stock under Options granted under the Plan shall be subject to (i) all applicable laws, rules and regulations, and such approvals by any governmental agencies as may be required,
including, but not by way of limitation, the effectiveness of a Registration Statement under the Securities Act of 1933, as amended, as deemed necessary or appropriate by counsel for the Holding Company, and (ii) the condition that the shares
of Common Stock reserved for issuance upon the exercise of the Options granted under the Plan shall be traded on NASDAQ or on a national securities exchange. 
 22. Non-Exclusivity of the Plan. 
 Neither the adoption of the Plan by the Holding Company’s Board of Directors nor the
submission of the Plan to the shareholders of the Holding Company for ratification and approval shall be construed as creating any limitations on the power of the Board of Directors to adopt such other incentive arrangements as it may deem
desirable, including, without limitation, the granting of stock options otherwise than under the Plan, and such arrangements may be either generally applicable or applicable only in specific cases. 
  

 16

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