Document:

Exhibit 10.1

              

            

       

      

      

        RESOURCES CONNECTION, INC.

        2020 PERFORMANCE INCENTIVE PLAN

        

        

        1.    PURPOSE OF PLAN

         

        The purpose of this Resources Connection, Inc. 2020 Performance Incentive Plan (this “Plan”) of Resources Connection, Inc., a Delaware corporation (the “Corporation”), is to
          promote the success of the Corporation by providing an additional means through the grant of awards to attract, motivate, retain and reward selected employees and other eligible persons and to enhance the alignment of the interests of the
          selected participants with the interests of the Corporation’s stockholders.

         

        2.    ELIGIBILITY

         

        The Administrator (as such term is defined in Section 3.1) may grant awards under this Plan only to those persons that the
          Administrator determines to be Eligible Persons.  An “Eligible Person” is any person who is either: (a) an officer (whether or not a director)
          or employee of the Corporation or one of its Subsidiaries; (b) a director of the Corporation or one of its Subsidiaries; or (c) an individual consultant or advisor who renders or has rendered bona fide services (other than services in connection
          with the offering or sale of securities of the Corporation or one of its Subsidiaries in a capital-raising transaction or as a market maker or promoter of securities of the Corporation or one of its Subsidiaries) to the Corporation or one of its
          Subsidiaries and who is selected to participate in this Plan by the Administrator; provided, however, that a person who is otherwise an Eligible Person under clause (c) above may participate in this Plan only if such participation would not
          adversely affect either the Corporation’s eligibility to use Form S-8 to register under the Securities Act of 1933, as amended (the “Securities Act”),
          the offering and sale of shares issuable under this Plan by the Corporation or the Corporation’s compliance with any other applicable laws.  An Eligible Person who has been granted an award (a “participant”) may, if otherwise eligible, be granted
          additional awards if the Administrator shall so determine.  As used herein, “Subsidiary” means any corporation or other entity a majority of
          whose outstanding voting stock or voting power is beneficially owned directly or indirectly by the Corporation; and “Board” means the Board of
          Directors of the Corporation.

         

        3.    PLAN ADMINISTRATION

         

        	

              	3.1	
                The Administrator.  This Plan shall be
                  administered by and all awards under this Plan shall be authorized by the Administrator.  The “Administrator” means the Board or one or
                  more committees (or subcommittees, as the case may be) appointed by the Board or another committee (within its delegated authority) to administer all or certain aspects of this Plan.  Any such committee shall be comprised solely of one or
                  more directors or such number of directors as may be required under applicable law.  A committee may delegate some or all of its authority to another committee so constituted.  The Board or a committee comprised solely of directors may
                  also delegate, to the extent permitted by applicable law, to one or more officers of the Corporation, its authority under this Plan.  The Board or another committee (within its delegated authority) may delegate different levels of
                  authority to different committees or persons with administrative and grant authority under this Plan.  Unless otherwise provided in the Bylaws of the Corporation or the applicable charter of any Administrator: (a) a majority of the
                  members of the acting Administrator shall constitute a quorum, and (b) the vote of a majority of the members present assuming the presence of a quorum or the unanimous written consent of the members of the Administrator shall constitute
                  action by the acting Administrator.

              

         

        
          1

          
            

        

        	

              	3.2	
                Powers of the Administrator.  Subject to
                  the express provisions of this Plan, the Administrator is authorized and empowered to do all things necessary or desirable in connection with the authorization of awards and the administration of this Plan (in the case of a committee or
                  delegation to one or more officers, within any express limits on the authority delegated to that committee or person(s)), including, without limitation, the authority to:

              

         

          	 	
                  (a)

                	
                  determine eligibility and, from among those persons determined to be eligible, determine the particular Eligible Persons who will receive an
                    award under this Plan;

                

           

          	 	
                  (b)

                	
                  grant awards to Eligible Persons, determine the price (if any) at which securities will be offered or awarded and the number of securities to be
                    offered or awarded to any of such persons (in the case of securities-based awards), determine the other specific terms and conditions of awards consistent with the express limits of this Plan, establish the installment(s) (if any) in
                    which such awards shall become exercisable or shall vest (which may include, without limitation, performance and/or time-based schedules), or determine that no delayed exercisability or vesting is required, establish any applicable
                    performance-based exercisability or vesting requirements, determine the circumstances in which any performance-based goals (or the applicable measure of performance) will be adjusted and the nature and impact of any such adjustment,
                    determine the extent (if any) to which any applicable exercise and vesting requirements have been satisfied, establish the events (if any) on which exercisability or vesting may accelerate (which may include, without limitation,
                    retirement and other specified terminations of employment or services, or other circumstances), and establish the events (if any) of termination, expiration or reversion of such awards;

                

           

          	 	
                  (c)

                	
                  approve the forms of any award agreements (which need not be identical either as to type of award or among participants);

                

           

          	 	
                  (d)

                	
                  construe and interpret this Plan and any agreements defining the rights and obligations of the Corporation, its Subsidiaries, and participants
                    under this Plan, make any and all determinations under this Plan and any such agreements, further define the terms used in this Plan, and prescribe, amend and rescind rules and regulations relating to the administration of this Plan or
                    the awards granted under this Plan;

                

           

          
            2

            
              

          

          	 	
                  (e)

                	
                  cancel, modify, or waive the Corporation’s rights with respect to, or modify, discontinue, suspend, or terminate any or all outstanding awards,
                    subject to any required consent under Section 8.6.5;

                

           

          	 	
                  (f)

                	
                  accelerate, waive or extend the vesting or exercisability, or modify or extend the term of, any or all such outstanding awards (in the case of
                    options or stock appreciation rights, within the maximum term of such awards) in such circumstances as the Administrator may deem appropriate (including, without limitation, in connection with a retirement or other termination of
                    employment or services, or other circumstances) subject to any required consent under Section 8.6.5;

                

           

          	 	
                  (g)

                	
                  adjust the number of shares of Common Stock subject to any award, adjust the price of any or all outstanding awards or otherwise waive or change
                    previously imposed terms and conditions, in such circumstances as the Administrator may deem appropriate, in each case subject to Sections 4 and 8.6 (and subject to the no repricing provision below);

                

           

          	 	
                  (h)

                	
                  determine the date of grant of an award, which may be a designated date after but not before the date of the Administrator’s action to approve
                    the award (unless otherwise designated by the Administrator, the date of grant of an award shall be the date upon which the Administrator took the action approving the award);

                

           

          	 	
                  (i)

                	
                  determine whether, and the extent to which, adjustments are required pursuant to Section 7.1 hereof and take any other actions contemplated by
                    Section 7 in connection with the occurrence of an event of the type described in Section 7;

                

           

          	 	
                  (j)

                	
                  acquire or settle (subject to Sections 7 and 8.6) rights under awards in cash, stock of equivalent value, or other consideration (subject to the
                    no repricing provision below); and

                

           

          	 	
                  (k)

                	
                  determine the fair market value of the Common Stock or awards under this Plan from time to time and/or the manner in which such value will be
                    determined.

                

           

          

          
            	
                    3.3

                  	 	
                    Prohibition on Repricing. 

                      Notwithstanding anything to the contrary in Section 3.2 and except for an adjustment pursuant to Section 7.1 or a repricing approved by stockholders, in no case may the Administrator (1) amend an outstanding stock option or SAR to
                      reduce the exercise price or base price of the award, (2) cancel, exchange, or surrender an outstanding stock option or SAR in exchange for cash or other awards for the purpose of repricing the award, or (3) cancel, exchange, or
                      surrender an outstanding stock option or SAR in exchange for an option or SAR with an exercise or base price that is less than the exercise or base price of the original award.

                  

            

          

        

        

        
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                  3.4

                	 	
                  Binding Determinations. 

                    Any determination or other action taken by, or inaction of, the Corporation, any Subsidiary, or the Administrator relating or pursuant to this Plan (or any award made under this Plan) and within its authority hereunder or under
                    applicable law shall be within the absolute discretion of that entity or body and shall be conclusive and binding upon all persons.  Neither the Board nor any other Administrator, nor any member thereof or person acting at the direction
                    thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with this Plan (or any award made under this Plan), and all such persons shall be entitled to indemnification
                    and reimbursement by the Corporation in respect of any claim, loss, damage or expense (including, without limitation, attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by law and/or under any directors and
                    officers liability insurance coverage that may be in effect from time to time.  Neither the Board nor any other Administrator, nor any member thereof or person acting at the direction thereof, nor the Corporation or any of its
                    Subsidiaries, shall be liable for any damages of a participant should an option intended as an ISO (as defined below) fail to meet the requirements of the Internal Revenue Code of 1986, as amended (the “Code”), applicable to ISOs, should any other award(s) fail to qualify for any intended tax treatment, should any award grant or other action with respect thereto
                    not satisfy Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended, or otherwise for any tax or other liability imposed on a participant with respect to an award.

                
	 	 	 
	
                  3.5

                	 	
                  Reliance on Experts. 
                    In making any determination or in taking or not taking any action under this Plan, the Administrator may obtain and may rely upon the advice of experts, including employees and professional advisors to the Corporation.  No director,
                    officer or agent of the Corporation or any of its Subsidiaries shall be liable for any such action or determination taken or made or omitted in good faith.

                
	 	 	 
	
                  3.6

                	 	
                  Delegation.  The
                    Administrator may delegate ministerial, non-discretionary functions to individuals who are officers or employees of the Corporation or any of its Subsidiaries or to third parties.

                

          

          

          	
                  4.

                	
                  SHARES OF COMMON STOCK SUBJECT TO THE PLAN; SHARE LIMITS

                

          

          

          	
                  4.1

                	 	
                  Shares Available. 
                    Subject to the provisions of Section 7.1, the capital stock that may be delivered under this Plan shall be shares of the Corporation’s authorized but unissued Common Stock and any shares of its Common Stock held as treasury shares.  For
                    purposes of this Plan, “Common Stock” shall mean the common stock of the Corporation and such other securities or property as may
                    become the subject of awards under this Plan, or may become subject to such awards, pursuant to an adjustment made under Section 7.1.

                
	 	 	 
	
                  4.2

                	 	
                  Aggregate Share Limit. 

                    The maximum number of shares of Common Stock that may be delivered pursuant to awards granted to Eligible Persons under this Plan (the “Share

                      Limit”) is equal to the sum of the following:

                

          

          

          	 	
                  (1)

                	
                  the number of shares of Common Stock available for additional award grant purposes under the Corporation’s 2014 Performance Incentive Plan (the
                    “2014 Plan”) as of the date of stockholder approval of this Plan (the “Stockholder Approval Date”) and determined immediately prior to the termination of the authority to grant new awards under the 2014 Plan as of the Stockholder Approval Date, plus

                
	 	 	 

          

          

          
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                  (2)

                	
                  the number of any shares subject to stock options granted under the 2014 Plan or the Corporation’s 2004 Performance Incentive Plan
                    (collectively, the “Prior Plans”) and outstanding on the Stockholder Approval Date which expire, or for any reason are cancelled or
                    terminated, after the Stockholder Approval Date without being exercised, plus

                
	 	 	 
	 	
                  (3)

                	
                  the number of any shares subject to restricted stock and restricted stock unit awards granted under the Prior Plans that are outstanding and
                    unvested on the Stockholder Approval Date that are forfeited, terminated, cancelled or otherwise reacquired by the Corporation without having become vested;

                

          

          

          	 	
                  provided that in no event shall the Share Limit exceed 7,145,257
                    shares (which is the sum of the number of shares available under the 2014 Plan for additional award grant purposes as of the Effective Date (as such term is defined in Section 8.6.1), plus the aggregate number of shares subject to
                    awards previously granted and outstanding under the Prior Plans Plan as of the Effective Date).

                

          

          

          	
                  4.3

                	 	
                  Additional Share Limits. 

                    The following limits also apply with respect to awards granted under this Plan.  These limits are in addition to, not in lieu of, the aggregate Share Limit in Section 4.2.

                

          

          

          	
                  (a)

                	 	
                  The maximum number of shares of Common Stock that may be delivered pursuant to options qualified as incentive stock options granted under this
                    Plan is 1,000,000 shares.

                
	 	 	 
	
                  (b)

                	 	
                  Awards that are granted under this Plan during any one calendar year to any person who, on the grant date of the award, is a non-employee
                    director are subject to the limits of this Section 4.3(b).  The maximum number of shares of Common Stock subject to those awards that are granted under this Plan during any one calendar year to an individual who, on the grant date of
                    the award, is a non-employee director is 250,000 shares.  For purposes of this Section 4.3(b), a “non-employee director” is an individual who, on the grant date of the award, is a member of the Board who is not then an officer or
                    employee of the Corporation or one of its Subsidiaries.  The limits of this Section 4.3(b) do not apply to, and shall be determined without taking into account, any award granted to an individual who, on the grant date of the award, is
                    an officer or employee of the Corporation or one of its Subsidiaries.  The limits of this Section 4.3(b) apply on an individual basis and not on an aggregate basis to all non-employee directors as a group.

                

          

          

          	
                  4.4

                	 	
                  Share-Limit Counting Rules. 

                    The Share Limit shall be subject to the following provisions of this Section 4.4:

                

          

          

          	 	
                  (a)

                	
                  Shares that are subject to or underlie awards granted under this Plan which expire or for any reason are cancelled or terminated, are forfeited,
                    fail to vest, or for any other reason are not paid or delivered under this Plan shall not be counted against the Share Limit and shall be available for subsequent awards under this Plan.

                

          

          

          
            5

            
              

          

          	 	 	 
	 	
                  (b)

                	
                  Except as provided below, to the extent that shares of Common Stock are delivered pursuant to the exercise of a stock appreciation right granted
                    under this Plan, the number of underlying shares as to which the exercise related shall be counted against the Share Limit.  (For purposes of clarity, if a stock appreciation right relates to 100,000 shares and is exercised in full at a
                    time when the payment due to the participant is 15,000 shares, 100,000 shares shall be counted against the Share Limit with respect to such exercise.)

                
	 	 	 
	 	
                  (c)

                	
                  Shares that are exchanged by a participant or withheld by the Corporation as full or partial payment in connection with any stock option or
                    stock appreciation right granted under this Plan, as well as any shares exchanged by a participant or withheld by the Corporation or one of its Subsidiaries to satisfy the tax withholding obligations related to any stock option or stock
                    appreciation right granted under this Plan, shall be counted against the Share Limit and shall not be available for subsequent awards under this Plan.  Shares that are exchanged by a participant or withheld by the Corporation as full or
                    partial payment in connection with any “Full-Value Award” granted under this Plan, as well as any shares exchanged by a participant or withheld by the Corporation or one of its Subsidiaries to satisfy the tax withholding obligations
                    related to any Full-Value Award granted under this Plan, shall not be counted against the Share Limit and shall be available for subsequent awards under this Plan.  For this purpose, a “Full-Value Award” means any award that is not a stock option grant or a stock
                    appreciation right grant.

                
	 	 	 
	 	
                  (d)

                	
                  In addition, shares that are exchanged by a participant or withheld by the Corporation after the Stockholder Approval Date as full or partial
                    payment in connection with any Full-Value Award granted under the 2014 Plan, as well as any shares exchanged by a participant or withheld by the Corporation or one of its Subsidiaries after the Stockholder Approval Date to satisfy the
                    tax withholding obligations related to any award granted under the 2014 Plan, shall be available for new awards under this Plan.

                
	 	 	 
	 	
                  (e)

                	
                  To the extent that an award granted under this Plan is settled in cash or a form other than shares of Common Stock, the shares that would have
                    been delivered had there been no such cash or other settlement shall not be counted against the Share Limit and shall be available for subsequent awards under this Plan.

                
	 	 	 
	 	
                  (f)

                	
                  In the event that shares of Common Stock are delivered in respect of a dividend equivalent right granted under this Plan, the number of shares
                    delivered with respect to the award shall be counted against the Share Limit.  (For purposes of clarity, if 1,000 dividend equivalent rights are granted and outstanding when the Corporation pays a dividend, and 50 shares are delivered
                    in payment of those rights with respect to that dividend, 50 shares shall be counted against the Share Limit).  Except as otherwise provided by the Administrator, shares delivered in respect of dividend equivalent rights shall not count
                    against any individual award limit under this Plan other than the aggregate Share Limit.

                

          

          

          
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                  (g)

                	
                  The Corporation may not increase the Share Limit by repurchasing shares of Common Stock on the market (by using cash received through the
                    exercise of stock options or otherwise).

                
	 	 	 
	 	
                  Refer to Section 8.10 for application of the share limits of this Plan, including the limits in Sections 4.2 and 4.3, with respect to assumed
                    awards.  Each of the numerical limits and references in Sections 4.2 and 4.3, and in this Section 4.4, is subject to adjustment as contemplated by Sections 7 and 8.10.

                   

          

          

          	 	
                  2.5

                	
                  No Fractional Shares;
                      Minimum Issue.  Unless otherwise expressly provided by the Administrator, no fractional shares shall be
                    delivered under this Plan.  The Administrator may pay cash in lieu of any fractional shares in settlements of awards under this Plan.  The Administrator may from time to time impose a limit (of not greater than 100 shares) on the
                    minimum number of shares that may be purchased or exercised as to awards (or any particular award) granted under this Plan unless (as to any particular award) the total number purchased or exercised is the total number at the time
                    available for purchase or exercise under the award.

                

          

          

          	
                  5.

                	
                  AWARDS

                

          

          

          	 	
                  5.1

                	
                  Type and Form of Awards. 

                    The Administrator shall determine the type or types of award(s) to be made to each selected Eligible Person.  Awards may be granted singly, in combination or in tandem.  Awards also may be made in combination or in tandem with, in
                    replacement of, as alternatives to, or as the payment form for grants or rights under any other employee or compensation plan of the Corporation or one of its Subsidiaries.  The types of awards that may be granted under this Plan are:

                

          

          

          	 	
                  5.1.1

                	
                  Stock Options.  A
                    stock option is the grant of a right to purchase a specified number of shares of Common Stock during a specified period as determined by the Administrator.  An option may be intended as an incentive stock option within the meaning of
                    Section 422 of the Code (an “ISO”) or a nonqualified stock option (an option not intended to be an ISO).  The agreement evidencing
                    the grant of an option will indicate if the option is intended as an ISO; otherwise it will be deemed to be a nonqualified stock option.  The maximum term of each option (ISO or nonqualified) shall be ten (10) years.  The per share
                    exercise price for each option shall be not less than 100% of the fair market value of a share of Common Stock on the date of grant of the option.  When an option is exercised, the exercise price for the shares to be purchased shall be
                    paid in full in cash or such other method permitted by the Administrator consistent with Section 5.4.

                

          

          

          
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                  5.1.2

                	
                  Additional Rules Applicable
                      to ISOs.  To the extent that the aggregate fair market value (determined at the time of grant of the applicable option) of stock with respect to which ISOs first become exercisable by a participant in any calendar year exceeds
                    $100,000, taking into account both Common Stock subject to ISOs under this Plan and stock subject to ISOs under all other plans of the Corporation or one of its Subsidiaries (or any parent or predecessor corporation to the extent
                    required by and within the meaning of Section 422 of the Code and the regulations promulgated thereunder), such options shall be treated as nonqualified stock options.  In reducing the number of options treated as ISOs to meet the
                    $100,000 limit, the most recently granted options shall be reduced first.  To the extent a reduction of simultaneously granted options is necessary to meet the $100,000 limit, the Administrator may, in the manner and to the extent
                    permitted by law, designate which shares of Common Stock are to be treated as shares acquired pursuant to the exercise of an ISO.  ISOs may only be granted to employees of the Corporation or one of its subsidiaries (for this purpose,
                    the term “subsidiary” is used as defined in Section 424(f) of the Code, which generally requires an unbroken chain of ownership of at least 50% of the total combined voting power of all classes of stock of each subsidiary in the chain
                    beginning with the Corporation and ending with the subsidiary in question).  No ISO may be granted to any person who, at the time the option is granted, owns (or is deemed to own under Section 424(d) of the Code) shares of outstanding
                    Common Stock possessing more than 10% of the total combined voting power of all classes of stock of the Corporation, unless the exercise price of such option is at least 110% of the fair market value of the stock subject to the option
                    and such option by its terms is not exercisable after the expiration of five years from the date such option is granted.  If an otherwise-intended ISO fails to meet the applicable requirements of Section 422 of the Code, the option
                    shall be a nonqualified stock option.

                
	 	 	 
	 	
                  5.1.3

                	
                  Stock Appreciation Rights. 

                    A stock appreciation right or “SAR” is a right to receive a payment, in cash and/or Common Stock, equal to the excess of the fair
                    market value of a specified number of shares of Common Stock on the date the SAR is exercised over the “base price” of the award,
                    which base price shall be set forth in the applicable award agreement and shall be not less than 100% of the fair market value of a share of Common Stock on the date of grant of the SAR.  The maximum term of a SAR shall be ten (10)
                    years.

                
	 	 	 
	 	
                  5.1.4

                	
                  Other Awards; Dividend
                      Equivalent Rights.  The other types of awards that may be granted under this Plan include: (a) stock bonuses, restricted stock, performance stock, stock units, restricted stock units, deferred shares, phantom stock or similar
                    rights to purchase or acquire shares, whether at a fixed or variable price (or no price) or fixed or variable ratio related to the Common Stock, and any of which may (but need not) be fully vested at grant or vest upon the passage of
                    time, the occurrence of one or more events, the satisfaction of performance criteria or other conditions, or any combination thereof; or (b) cash awards.  The types of cash awards that may be granted under this Plan include the
                    opportunity to receive a payment for the achievement of one or more goals established by the Administrator, on such terms as the Administrator may provide, as well as discretionary cash awards.  Dividend equivalent rights may be granted
                    as a separate award or in connection with another award under this Plan; provided, however, that dividend equivalent rights may not be granted as to a stock option or SAR granted under this Plan.  In addition, any dividends and/or
                    dividend equivalents as to the portion of an award that is subject to unsatisfied vesting requirements will be subject to termination and forfeiture to the same extent as the corresponding portion of the award to which they relate in
                    the event the applicable vesting requirements are not satisfied.

                

          

          

          
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                  5.2

                	 Award Agreements.  Each award shall be evidenced by a written or
                  electronic award agreement or notice in a form approved by the Administrator (an “award agreement”), and, in each case and if required by the Administrator, executed or otherwise electronically accepted by the recipient of the award in
                  such form and manner as the Administrator may require.
	 	 	 
	 	
                  5.3

                	
                  Deferrals and Settlements. 

                    Payment of awards may be in the form of cash, Common Stock, other awards or combinations thereof as the Administrator shall determine, and with such restrictions (if any) as it may impose.  The Administrator may also require or permit
                    participants to elect to defer the issuance of shares or the settlement of awards in cash under such rules and procedures as it may establish under this Plan.  The Administrator may also provide that deferred settlements include the
                    payment or crediting of interest or other earnings on the deferral amounts, or the payment or crediting of dividend equivalents where the deferred amounts are denominated in shares.

                
	 	 	 
	 	
                  5.4

                	
                  Consideration for Common
                      Stock or Awards.  The purchase price (if any) for any award granted under this Plan or the Common Stock to be delivered pursuant to an award,
                    as applicable, may be paid by means of any lawful consideration as determined by the Administrator, including, without limitation, one or a combination of the following methods:

                

          

          

          	 	
                  (a)

                	 	
                  services rendered by the recipient of such award;

                
	 	 	 	 
	 	
                  (b)

                	 	
                  cash, check payable to the order of the Corporation, or electronic funds transfer;

                
	 	 	 	 
	 	
                  (c)

                	 	
                  notice and third party payment in such manner as may be authorized by the Administrator;

                
	 	 	 	 
	 	
                  (d)

                	 	
                  the delivery of previously owned shares of Common Stock;

                
	 	 	 	 
	 	
                  (e)

                	 	
                  by a reduction in the number of shares otherwise deliverable pursuant to the award; or

                
	 	 	 	 
	 	
                  (f)

                	 	
                  subject to such procedures as the Administrator may adopt, pursuant to a “cashless exercise” with a third party who provides financing for the
                    purposes of (or who otherwise facilitates) the purchase or exercise of awards.

                

          

          

          
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            In no event shall any shares newly-issued by the Corporation be issued for less than the minimum lawful consideration for such
              shares or for consideration other than consideration permitted by applicable state law.  Shares of Common Stock used to satisfy the exercise price of an option shall be valued at their fair market value.  The Corporation will not be obligated
              to deliver any shares unless and until it receives full payment of the exercise or purchase price therefor and any related withholding obligations under Section 8.5 and any other conditions to exercise or purchase have been satisfied.  Unless
              otherwise expressly provided in the applicable award agreement, the Administrator may at any time eliminate or limit a participant’s ability to pay any purchase or exercise price of any award or shares by any method other than cash payment to
              the Corporation.

             

            
              	
                      5.5

                      

                    	
                      Definition of Fair
                          Market Value.  For purposes of this Plan, “fair market value” shall mean, unless otherwise determined or provided by the Administrator in the circumstances, the closing price (in regular trading) for a share of Common Stock
                        on the Nasdaq Global Select Stock Market (the “Market”) for the date in question or, if no sales of Common Stock were reported on
                        the Market on that date, the closing price (in regular trading) for a share of Common Stock on the Market for the next preceding day on which sales of Common Stock were reported on the Market.  The Administrator may, however,
                        provide with respect to one or more awards that the fair market value shall equal the closing price (in regular trading) for a share of Common Stock on the Market on the last trading day preceding the date in question or the average
                        of the high and low trading prices of a share of Common Stock on the Market for the date in question or the most recent trading day.  If the Common Stock is no longer listed or is no longer actively traded on the Market as of the
                        applicable date, the fair market value of the Common Stock shall be the value as reasonably determined by the Administrator for purposes of the award in the circumstances.  The Administrator also may adopt a different methodology
                        for determining fair market value with respect to one or more awards if a different methodology is necessary or advisable to secure any intended favorable tax, legal or other treatment for the particular award(s) (for example, and
                        without limitation, the Administrator may provide that fair market value for purposes of one or more awards will be based on an average of closing prices (or the average of high and low daily trading prices) for a specified period
                        preceding the relevant date).

                    

            

             

            

            5.6            Transfer Restrictions.

             

            
              	
                      5.6.1

                    	
                      Limitations

                          on Exercise and Transfer.  Unless otherwise expressly provided in (or pursuant to) this Section 5.6 or required by applicable law: (a) all awards are non-transferable and shall not be subject in any manner to sale,
                        transfer, anticipation, alienation, assignment, pledge, encumbrance or charge; (b) awards shall be exercised only by the participant; and (c) amounts payable or shares issuable pursuant to any award shall be delivered only to (or
                        for the account of) the participant.

                    

            

            
              	
                      5.6..2

                    	
                      Exceptions. 

                        The Administrator may permit awards to be exercised by and paid to, or otherwise transferred to, other persons or entities pursuant to such conditions and procedures, including limitations on subsequent transfers, as the
                        Administrator may, in its sole discretion, establish in writing.  Any permitted transfer shall be subject to compliance with applicable federal and state securities laws and shall not be for value (other than nominal consideration,
                        settlement of marital property rights, or for interests in an entity in which more than 50% of the voting interests are held by the Eligible Person or by the Eligible Person’s family members).

                    

            

            
               

              

              
                10

                
                  

              

              	
                      5.6..3

                    	
                      Further

                          Exceptions to Limits on Transfer.  The exercise and transfer restrictions in Section 5.6.1 shall not apply to:

                    

            

             

            

            	

                  	(a)	
                    transfers to the Corporation (for example, in connection with the expiration or termination of the award);

                  

             

            	

                  	(b)	
                    the designation of a beneficiary to receive benefits in the event of the participant’s death or, if the participant has died, transfers to or exercise by the
                      participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent and distribution;

                  

             

            	

                  	(c)	
                    subject to any applicable limitations on ISOs, transfers to a family member (or former family member) pursuant to a domestic relations order if received by the
                      Administrator;

                  

             

            	

                  	(d)	
                    if the participant has suffered a disability, permitted transfers or exercises on behalf of the participant by his or her legal representative; or

                  

             

            	

                  	(e)	
                    the authorization by the Administrator of “cashless exercise” procedures with third parties who provide financing for the purpose of (or who otherwise
                      facilitate) the exercise of awards consistent with applicable laws and any limitations imposed by the Administrator.

                  

             

            
              	
                      5.7

                    	
                      International Awards. 

                        One or more awards may be granted to Eligible Persons who provide services to the Corporation or one of its Subsidiaries outside of the United States.  Any awards granted to such persons may be granted pursuant to the terms and
                        conditions of any applicable sub-plans, if any, appended to this Plan and approved by the Administrator from time to time.  The awards so granted need not comply with other specific terms of this Plan, provided that stockholder
                        approval of any deviation from the specific terms of this Plan is not required by applicable law or any applicable listing agency.

                    

               

              

            

            6.    EFFECT OF TERMINATION OF EMPLOYMENT OR SERVICE ON AWARDS

             

            
              	
                      6.1

                    	
                      General.  The
                        Administrator shall establish the effect (if any) of a termination of employment or service on the rights and benefits under each award under this Plan and in so doing may make distinctions based upon, inter alia, the cause of
                        termination and type of award.  If the participant is not an employee of the Corporation or one of its Subsidiaries, is not a member of the Board, and provides other services to the Corporation or one of its Subsidiaries, the
                        Administrator shall be the sole judge for purposes of this Plan (unless a contract or the award otherwise provides) of whether the participant continues to render services to the Corporation or one of its Subsidiaries and the date,
                        if any, upon which such services shall be deemed to have terminated.

                       

                      

                    

            

            
               

              

              
                11

                
                  

              

               

              

              	
                      6.2

                    	
                      Events Not Deemed
                          Terminations of Employment.  Unless the express policy of the Corporation or one of its Subsidiaries, or the Administrator, otherwise provides, or except as otherwise required by applicable law, the employment relationship
                        shall not be considered terminated in the case of: (a) sick leave, (b) military leave, or (c) any other leave of absence authorized by the Corporation or one of its Subsidiaries, or the Administrator; provided that, unless
                        reemployment upon the expiration of such leave is guaranteed by contract or law or the Administrator otherwise provides, such leave is for a period of not more than three months.  In the case of any employee of the Corporation or
                        one of its Subsidiaries on an approved leave of absence, continued vesting of the award while on leave from the employ of the Corporation or one of its Subsidiaries may be suspended until the employee returns to service, unless the
                        Administrator otherwise provides or applicable law otherwise requires.  In no event shall an award be exercised after the expiration of any applicable maximum term of the award.

                       

                      

                    

            

            
              	
                      6.3

                    	
                      Effect of Change of
                          Subsidiary Status.  For purposes of this Plan and any award, if an entity ceases to be a Subsidiary of the Corporation a termination of employment or service shall be deemed to have occurred with respect to each Eligible
                        Person in respect of such Subsidiary who does not continue as an Eligible Person in respect of the Corporation or another Subsidiary that continues as such after giving effect to the transaction or other event giving rise to the
                        change in status unless the Subsidiary that is sold, spun-off or otherwise divested (or its successor or a direct or indirect parent of such Subsidiary or successor) assumes the Eligible Person’s award(s) in connection with such
                        transaction.

                    

               

              

            

            7.    ADJUSTMENTS; ACCELERATION

             

            7.1                        Adjustments.

             

            	

                  	(a)	
                    Subject to Section 7.2, upon (or, as may be necessary to effect the adjustment, immediately prior to): any reclassification, recapitalization, stock split
                      (including a stock split in the form of a stock dividend) or reverse stock split; any merger, combination, consolidation, conversion or other reorganization; any spin-off, split-up, or similar extraordinary dividend distribution in
                      respect of the Common Stock; or any exchange of Common Stock or other securities of the Corporation, or any similar, unusual or extraordinary corporate transaction in respect of the Common Stock; then the Administrator shall equitably
                      and proportionately adjust: (1) the number and type of shares of Common Stock (or other securities) that thereafter may be made the subject of awards (including the specific share limits, maximums and numbers of shares set forth
                      elsewhere in this Plan); (2) the number, amount and type of shares of Common Stock (or other securities or property) subject to any outstanding awards; (3) the grant, purchase, or exercise price (which term includes the base price of
                      any SAR or similar right) of any outstanding awards; and/or (4) the securities, cash or other property deliverable upon exercise or payment of any outstanding awards, in each case to the extent necessary to preserve (but not increase)
                      the level of incentives intended by this Plan and the then-outstanding awards.

                  

             

            
              12

              
                

            

            
              
                	

                      	(b)            	

                      	Without limiting the generality of Section 3.4, any good faith determination by the Administrator as to
                        whether an adjustment is required in the circumstances pursuant to this Section 7.1, and the extent and nature of any such adjustment, shall be conclusive and binding on all persons.

              

            

             

            7.2                        Corporate Transactions - Assumption and Termination of Awards.

             

            	

                  	(a)	
                    Upon any event in which the Corporation does not survive, or does not survive as a public company in respect of its Common Stock (including, without limitation,
                      a dissolution, merger, combination, consolidation, conversion, exchange of securities, or other reorganization, or a sale of all or substantially all of the business, stock or assets of the Corporation, in any case in connection with
                      which the Corporation does not survive or does not survive as a public company in respect of its Common Stock), then the Administrator may make provision for a cash payment in settlement of, or for the termination, assumption,
                      substitution or exchange of any or all outstanding awards or the cash, securities or property deliverable to the holder of any or all outstanding awards, based upon, to the extent relevant under the circumstances, the distribution or
                      consideration payable to holders of the Common Stock upon or in respect of such event.  Upon the occurrence of any event described in the preceding sentence in connection with which the Administrator has made provision for the award
                      to be terminated (and the Administrator has not made a provision for the substitution, assumption, exchange or other continuation or settlement of the award): (1) unless otherwise provided in the applicable award agreement, each
                      then-outstanding option and SAR shall become fully vested, all shares of restricted stock then outstanding shall fully vest free of restrictions, and each other award granted under this Plan that is then outstanding shall become
                      payable to the holder of such award (with any performance goals applicable to the award in each case being deemed met, unless otherwise provided in the award agreement, at the “target” performance level); and (2) each award (including
                      any award or portion thereof that, by its terms, does not accelerate and vest in the circumstances) shall terminate upon the related event; provided that the holder of an option or SAR shall be given reasonable advance notice of the
                      impending termination and a reasonable opportunity to exercise his or her outstanding vested options and SARs (after giving effect to any accelerated vesting required in the circumstances) in accordance with their terms before the
                      termination of such awards (except that in no case shall more than ten days’ notice of the impending termination be required and any acceleration of vesting and any exercise of any portion of an award that is so accelerated may be
                      made contingent upon the actual occurrence of the event).

                  

             

            	

                  	(b)	
                    Without limiting the preceding paragraph, in connection with any event referred to in the preceding paragraph or any change in control event defined in any
                      applicable award agreement, the Administrator may, in its discretion, provide for the accelerated vesting of any award or awards as and to the extent determined by the Administrator in the circumstances.

                  

             

            
              13

              
                

            

            	

                  	(c)	
                    For purposes of this Section 7.2, an award shall be deemed to have been “assumed” if (without limiting other circumstances in which an award is assumed) the
                      award continues after an event referred to above in this Section 7.2, and/or is assumed and continued by the surviving entity following such event (including, without limitation, an entity that, as a result of such event, owns the
                      Corporation or all or substantially all of the Corporation’s assets directly or through one or more subsidiaries (a “Parent”)), and
                      confers the right to purchase or receive, as applicable and subject to vesting and the other terms and conditions of the award, for each share of Common Stock subject to the award immediately prior to the event, the consideration
                      (whether cash, shares, or other securities or property) received in the event by the stockholders of the Corporation for each share of Common Stock sold or exchanged in such event (or the consideration received by a majority of the
                      stockholders participating in such event if the stockholders were offered a choice of consideration); provided, however, that if the consideration offered for a share of Common Stock in the event is not solely the ordinary common
                      stock of a successor corporation or a Parent, the Administrator may provide for the consideration to be received upon exercise or payment of the award, for each share subject to the award, to be solely ordinary common stock of the
                      successor corporation or a Parent equal in fair market value to the per share consideration received by the stockholders participating in the event.

                  

             

            	

                  	(d)	
                    The Administrator may adopt such valuation methodologies for outstanding awards as it deems reasonable in the event of a cash or property settlement and, in the
                      case of options, SARs or similar rights, but without limitation on other methodologies, may base such settlement solely upon the excess if any of the per share amount payable upon or in respect of such event over the exercise or base
                      price of the award.  In the case of an option, SAR or similar right as to which the per share amount payable upon or in
                          respect of such event is less than or equal to the exercise or base price of the award, the Administrator may terminate such award in connection with an event referred to in this Section 7.2 without any payment in respect of such
                          award.

                  

             

            	

                  	(e)	
                    In any of the events referred to in this Section 7.2, the Administrator may take
                        such action contemplated by this Section 7.2 prior to such event (as opposed to on the occurrence of such event) to the extent that the Administrator deems the action necessary to permit the participant to realize the benefits
                        intended to be conveyed with respect to the underlying shares.  Without limiting the generality of the foregoing, the Administrator may deem an acceleration and/or termination to occur immediately prior to the applicable
                      event and, in such circumstances, will reinstate the original terms of the award if an event giving rise to an acceleration and/or termination does not occur.

                  

             

            	

                  	(f)	
                    Without limiting the generality of Section 3.4, any good faith determination by the Administrator pursuant to its authority under this Section 7.2 shall be
                      conclusive and binding on all persons.

                  

             

            	

                  	(g)	
                    The Administrator may override the provisions of this Section 7.2 by express provision in the award agreement and may accord any Eligible Person a right to
                      refuse any acceleration, whether pursuant to the award agreement or otherwise, in such circumstances as the Administrator may approve.  The portion of any ISO accelerated in connection with an event referred to in this Section 7.2 (or
                      such other circumstances as may trigger accelerated vesting of the award) shall remain exercisable as an ISO only to the extent the applicable $100,000 limitation on ISOs is not exceeded.  To the extent exceeded, the accelerated
                      portion of the option shall be exercisable as a nonqualified stock option under the Code.

                  

             

            
              14

              
                

            

            8.    OTHER PROVISIONS

             

            
              	
                      8.1

                    	
                      Compliance with Laws. 

                        This Plan, the granting and vesting of awards under this Plan, the offer, issuance and delivery of shares of Common Stock, and/or the payment of money under this Plan or under awards are subject to compliance with all applicable
                        federal, state, local and foreign laws, rules and regulations (including, but not limited to, state and federal securities law and federal margin requirements) and to such approvals by any listing, regulatory or governmental
                        authority as may, in the opinion of counsel for the Corporation, be necessary or advisable in connection therewith.  The person acquiring any securities under this Plan will, if requested by the Corporation or one of its
                        Subsidiaries, provide such assurances and representations to the Corporation or one of its Subsidiaries as the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements.

                       

                      

                    

            

            
              	
                      8.2

                    	
                      No Rights to Award. 

                        No person shall have any claim or rights to be granted an award (or additional awards, as the case may be) under this Plan, subject to any express contractual rights (set forth in a document other than this Plan) to the contrary.

                       

                      

                    

            

            
              	
                      8.3

                    	
                      No Employment/Service
                          Contract.  Nothing contained in this Plan (or in any other documents under this Plan or in any award) shall confer upon any Eligible Person or other participant any right to continue in the employ or other service of the
                        Corporation or one of its Subsidiaries, constitute any contract or agreement of employment or other service or affect an employee’s status as an
                        employee at will, nor shall interfere in any way with the right of the Corporation or one of its Subsidiaries to change a person’s compensation or other benefits, or to terminate his or her employment or other service, with or
                        without cause.  Nothing in this Section 8.3, however, is intended to adversely affect any express independent right of such person under a separate employment or service contract other than an award agreement.

                       

                      

                    

            

            
              	
                      8.4

                    	
                      Plan Not Funded. 
                        Awards payable under this Plan shall be payable in shares or from the general assets of the Corporation, and no special or separate reserve, fund or deposit shall be made to assure payment of such awards.  No participant,
                        beneficiary or other person shall have any right, title or interest in any fund or in any specific asset (including shares of Common Stock, except as expressly otherwise provided) of the Corporation or one of its Subsidiaries by
                        reason of any award hereunder.  Neither the provisions of this Plan (or of any related documents), nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan shall create, or be construed
                        to create, a trust of any kind or a fiduciary relationship between the Corporation or one of its Subsidiaries and any participant, beneficiary or other person.  To the extent that a participant, beneficiary or other person acquires
                        a right to receive payment pursuant to any award hereunder, such right shall be no greater than the right of any unsecured general creditor of the Corporation.

                       

                      

                    

               

              

              
                15

                
                  

              

            

            
              	
                      8.5

                    	
                      Tax Withholding.  Upon any exercise, vesting, or payment of any award, or upon the disposition of shares of Common Stock acquired pursuant to the exercise of an ISO
                        prior to satisfaction of the holding period requirements of Section 422 of the Code, or upon any other tax withholding event with respect to any award, arrangements satisfactory to the Corporation shall be made to provide for any
                        taxes the Corporation or any of its Subsidiaries may be required or permitted to withhold with respect to such award event or payment.  Such arrangements may include (but are not limited to) any one of (or a combination of) the
                        following:

                    

            

            	

                  	(a)	
                    The Corporation or one of its Subsidiaries shall have the right torequire the participant (or the participant’s personal representative or beneficiary, as the
                      case may be) to pay or provide for payment of the amount of any taxes which the Corporation or one of its Subsidiaries may be required or permitted to withhold with respect to such award event or payment.

                  

             

            	

                  	(b)	
                    The Corporation or one of its Subsidiaries shall have the right to deduct from any amount otherwise payable in cash (whether related to the award or otherwise)
                      to the participant (or the participant’s personal representative or beneficiary, as the case may be) the amount of any taxes which the Corporation or one of its Subsidiaries may be required or permitted to withhold with respect to
                      such award event or payment.

                  

             

            	

                  	(c)	
                    In any case where a tax is required to be withheld in connection with the delivery of shares of Common Stock under this Plan, the Administrator may in its sole
                      discretion (subject to Section 8.1) require or grant (either at the time of the award or thereafter) to the participant the right to elect, pursuant to such rules and subject to such conditions as the Administrator may establish, that
                      the Corporation reduce the number of shares to be delivered by (or otherwise reacquire) the appropriate number of shares, valued in a consistent manner at their fair market value or at the sales price in accordance with authorized
                      procedures for cashless exercises, necessary to satisfy any applicable withholding obligation on exercise, vesting or payment.

                     

                    

                  

             8.6            Effective Date, Termination and Suspension, Amendments.

             

            
              	
                      8.6.1

                    	
                      Effective

                          Date.  This Plan is effective as of August 18, 2020, the date of its approval by the Board (the “Effective Date”).  This
                        Plan shall be submitted for and subject to stockholder approval no later than twelve months after the Effective Date.  Unless earlier terminated by the Board and subject to any extension that may be approved by stockholders, this
                        Plan shall terminate at the close of business on the day before the tenth anniversary of the Effective Date.  After the termination of this Plan either upon such stated termination date or its earlier termination by the Board, no
                        additional awards may be granted under this Plan, but previously granted awards (and the authority of the Administrator with respect thereto, including the authority to amend such awards) shall remain outstanding in accordance with
                        their applicable terms and conditions and the terms and conditions of this Plan.

                       

                      

                    

               

              

              
                16

                
                  

              

            

            
              	
                      8.6.2

                    	
                      Board
                          Authorization.  The Board may, at any time, terminate or, from time to time, amend, modify or suspend this Plan, in whole or in part.  No awards may be granted during any period that the Board suspends this Plan.

                       

                      

                    

            

            
              	
                      8.6.3

                    	
                      Stockholder

                          Approval.  To the extent then required by applicable law or deemed necessary or advisable by the Board, any amendment to this Plan shall be subject to stockholder approval.

                       

                      

                    

            

            
              	
                      8.6.4

                    	
                      Amendments

                          to Awards.  Without limiting any other express authority of the Administrator under (but subject to) the express limits of this Plan, the Administrator by agreement or resolution may waive conditions of or limitations on
                        awards to participants that the Administrator in the prior exercise of its discretion has imposed, without the consent of a participant, and (subject to the requirements of Sections 3.2 and 8.6.5) may make other changes to the terms
                        and conditions of awards.  Any amendment or other action that would constitute a repricing of an award is subject to the no-repricing provision of Section 3.3.

                       

                      

                    

            

            
              	
                      8.6.5

                    	
                      Limitations

                          on Amendments to Plan and Awards.  No amendment, suspension or termination of this Plan or amendment of any outstanding award agreement shall, without written consent of the participant, affect in any manner materially
                        adverse to the participant any rights or benefits of the participant or obligations of the Corporation under any award granted under this Plan prior to the effective date of such change.  Changes, settlements and other actions
                        contemplated by Section 7 shall not be deemed to constitute changes or amendments for purposes of this Section 8.6.

                       

                      

                    

            

            
              	
                      8.7

                    	
                      Privileges of Stock
                          Ownership.  Except as otherwise expressly authorized by the Administrator, a participant shall not be entitled to any privilege of stock ownership as to any shares of Common Stock not actually delivered to and held of
                        record by the participant.  Except as expressly required by Section 7.1 or otherwise expressly provided by the Administrator, no adjustment will be made for dividends or other rights as a stockholder for which a record date is prior
                        to such date of delivery.

                       

                      

                    

            

            8.8            Governing Law; Severability.

             

            
              	
                      8.8.1

                    	
                      Choice

                          of Law.  This Plan, the awards, all documents evidencing awards and all other related documents shall be governed by, and construed in accordance with the laws of the State of Delaware, notwithstanding any Delaware or other
                        conflict of law provision to the contrary.

                       

                      

                    

            

            
              	
                      8.8.2

                    	
                      Severability. 

                        If a court of competent jurisdiction holds any provision invalid and unenforceable, the remaining provisions of this Plan shall continue in effect.

                       

                      

                    

            

            
              	
                      8.9

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

                       

                      

                    

               

              

              
                17

                
                  

              

            

            
              	
                      8.10

                    	
                      Stock-Based Awards in
                          Substitution for Stock Options or Awards Granted by Other Corporation.  Awards may be granted to Eligible Persons in substitution for or
                        in connection with an assumption of employee stock options, SARs, restricted stock or other stock-based awards granted by other entities to persons who are or who will become Eligible Persons in respect of the Corporation or one of
                        its Subsidiaries, in connection with a distribution, merger or other reorganization by or with the granting entity or an affiliated entity, or the acquisition by the Corporation or one of its Subsidiaries, directly or indirectly, of
                        all or a substantial part of the stock or assets of the employing entity.  The awards so granted need not comply with other specific terms of this Plan, provided the awards reflect adjustments giving effect to the assumption or
                        substitution consistent with any conversion applicable to the common stock (or the securities otherwise subject to the award) in the transaction and any change in the issuer of the security.  Any shares that are delivered and any
                        awards that are granted by, or become obligations of, the Corporation, as a result of the assumption by the Corporation of, or in substitution for, outstanding awards previously granted or assumed by an acquired company (or
                        previously granted or assumed by a predecessor employer (or direct or indirect parent thereof) in the case of persons that become employed by the Corporation or one of its Subsidiaries in connection with a business or asset
                        acquisition or similar transaction) shall not be counted against the Share Limit or other limits on the number of shares available for issuance under this Plan.

                       

                      

                    

            

            
              	
                      8.11

                    	
                      Non-Exclusivity of Plan. 

                        Nothing in this Plan shall limit or be deemed to limit the authority of the Board or the Administrator to grant awards or authorize any other compensation, with or without reference to the Common Stock, under any other plan or
                        authority.

                       

                      

                    

            

            
              	
                      8.12

                    	
                      No Corporate Action
                          Restriction.  The existence of this Plan, the award agreements and the awards granted hereunder shall not limit, affect, or restrict in any way the right or power of the Corporation or any Subsidiary (or any of their
                        respective shareholders, boards of directors or committees thereof (or any subcommittees), as the case may be) to make or authorize: (a) any adjustment, recapitalization, reorganization or other change in the capital structure or
                        business of the Corporation or any Subsidiary, (b) any merger, amalgamation, consolidation or change in the ownership of the Corporation or any Subsidiary, (c) any issue of bonds, debentures, capital, preferred or prior preference
                        stock ahead of or affecting the capital stock (or the rights thereof) of the Corporation or any Subsidiary, (d) any dissolution or liquidation of the Corporation or any Subsidiary, (e) any sale or transfer of all or any part of the
                        assets or business of the Corporation or any Subsidiary, (f) any other award, grant, or payment of incentives or other compensation under any other plan or authority (or any other action with respect to any benefit, incentive or
                        compensation), or (g) any other corporate act or proceeding by the Corporation or any Subsidiary.  No participant, beneficiary or any other person shall have any claim under any award or award agreement against any member of the
                        Board or the Administrator, or the Corporation or any employees, officers or agents of the Corporation or any Subsidiary, as a result of any such action.  Awards need not be structured so as to be deductible for tax purposes.

                       

                      

                    

               

              

              
                18

                
                  

              

            

            
              	
                      8.13

                    	
                      Other Company Benefit
                          and Compensation Programs.  Payments and other benefits received by a participant under an award made pursuant to this Plan shall not be deemed a part of a participant’s compensation for purposes of the determination of
                        benefits under any other employee welfare or benefit plans or arrangements, if any, provided by the Corporation or any Subsidiary, except where the Administrator expressly otherwise provides or authorizes in writing.  Awards under
                        this Plan may be made in addition to, in combination with, as alternatives to or in payment of grants, awards or commitments under any other plans, arrangements or authority of the Corporation or its Subsidiaries.

                       

                      

                    

            

            
              	
                      8.14

                    	
                      Clawback Policy. 
                        The awards granted under this Plan are subject to the terms of the Corporation’s recoupment, clawback or similar policy as it may be in effect from time to time, as well as any similar provisions of applicable law, any of which
                        could in certain circumstances require repayment or forfeiture of awards or any shares of Common Stock or other cash or property received with respect to the awards (including any value received from a disposition of the shares
                        acquired upon payment of the awards).

                    

            

          

           

          

          

        

        

      

    

  

  19CMS Contract

   

  

	
   

  
	
  
  second addendum to the revolving credit facility
  agreement ENTERED INTO ON 1 august 2018

  

  
	
  between

  absa bank limited (acting through its Corporate Investment
  Banking Division)

  as Mandated Lead Arranger and Original Lender and Hedge
  Provider

  and

  DRDGold Limited

  as Borrower

  and

  ERGO mining Proprietary Limited

  as Hedge Counterparty and Obligor

  and

  The companies listed in Schedule 1

  as Guarantors

  

 

 

 83 

   

  

Table of Contents

CLAUSE                                                                                                                                   PAGE

1.            Definitions.......................................................................................................................... 3

2.            Conditions Precedent........................................................................................................... 4

3.            Amendments....................................................................................................................... 4

4.            Representations................................................................................................................... 7

5.            Continuity and Further Assurances........................................................................................ 7

6.            Upfront Fee......................................................................................................................... 7

7.            Designation......................................................................................................................... 8

8.            Signature............................................................................................................................. 8

SCHEDULE                                                                                                                             PAGE

Schedule 1 Guarantors...................................................................................................................... 11

Schedule 2 Conditions
Precedent....................................................................................................... 12

Schedule 3 Formalities
Certificate..................................................................................................... 14

  

 83 

   

  

This SECOND ADDENDUM
TO THE REVOLVING CREDIT FACILITIES AGREEMENT ENTERED INTO ON 1 AUGUST 2018 (the "Amendment Agreement") is
entered into on the Signature Date

BETWEEN: 

(1)                   
 Absa Bank Limited (acting through its Corporate Investment
Banking Division), a company incorporated in South Africa with registration
number 1986/004794/06

                                                                                                                       
- as "Mandated Lead
Arranger", "Original Lender" and "Hedge
Provider"- 

(2)                   
 DRDGold Limited, a company incorporated in South Africa with
registration number 1895/000926/06

                                                                                                                                                                                                                                                                                                            
- as "Borrower"- 

(3)                   
 Ergo Mining Proprietary Limited, a company incorporated in South Africa with
registration number 2007/004886/07

                                                                                                                                                                                                                                                                         
- as "Hedge
Counterparty" -

(4)                   
 The Companies listed in Schedule 1

                                                                                                                                                                                                                                                                                     
- each as a "Guarantor"- 

 

The
parties listed in no. (1) to (4)
above are referred to collectively as the "Parties"  and each
as a "Party". 

 

Preamble

(A)                  
 On or about 1 August 2018, the
Parties entered into the Revolving Credit Facility Agreement (as defined below).

(B)                  
 The Parties have amended the
Revolving Credit Facility Agreement on the terms set out in the first addendum entered
into on or about 10 December 2018 and again on the terms set out in the
extension letter dated 12 August 2020.

(C)                  
 The Parties wish to further amend
the Revolving Credit Facility Agreement so as to (1) extend the Final Repayment
Date, (2) reduce the Total Commitment (3) amend the Margin and (4) make any
other consequential changes, all on the basis set out in this Amendment Agreement.

 

Now it is agreed as follows:

1.                      
 Definitions

1.1                   
 In this Amendment Agreement,
including the preamble above and except where the contrary appears from the
wording or the context, the following terms shall have the following meanings:

"Amendment Date" means the date
on which the Original Lender notifies the Borrower that it is satisfied that
each of the Conditions Precedents have either been timeously fulfilled to the
Original Lender's satisfaction or have been waived by the Original Lender in accordance
with the provisions of clause 2.1.

"Conditions Precedent" means the
documents and evidence listed in Schedule 2 (Conditions Precedent) hereto.

"Revolving Credit Facility Agreement"
means the written revolving credit facility agreement entered into amongst the
Parties (other than Far West) on or about 1 August 2018 (as amended from time
to time).

"Signature  Date" means the date of the signature of the Party last
signing this Agreement in time. 

"Upfront Fee" means the upfront
fee referred to in clause 6.

 83 

   

  

1.2                   
 Interpretation

1.2.1             
 Save as defined in this
Amendment Agreement, words and expressions defined in the Revolving Credit
Facility Agreement bear the meanings ascribed to them in the Revolving Credit
Facility Agreement.

1.2.2             
 The provisions of clauses 1.1 (Definitions) to 1.3 (Third-party
Rights) (inclusive), clause 28 (Notices), clause 30 (Partial Invalidity),
clause 32 (Remedies and Waivers), clause 41 (Governing Law) and clause 42
(Jurisdiction) of the Revolving Credit Facility Agreement shall be incorporated
into this Amendment Agreement as if set out in full in this Amendment Agreement
and as if references in those clauses to "this Agreement" are
references to this Amendment Agreement (mutatis mutandis), except that references
in clauses 1.1 (Definitions) to
1.3 (Third party rights) (inclusive) of the Revolving Credit Facility Agreement
to this Agreement are to be construed as references to this Amendment Agreement.

Operative
clauses

2.                      
 Conditions Precedent

2.1                   
 This Agreement is subject in
all respects to the fulfilment (or waiver) of the Conditions Precedent all in
form and substance satisfactory to the Original Lender. The Original Lender shall notify the Borrower promptly upon being so
satisfied.

2.2                   
 The Conditions Precedents
are expressed to be solely for the benefit of the Original Lender, which may by
written notice to that effect from the Original Lender either unconditionally
waive or defer any or all of the Conditions Precedents.  

2.3                   
 Should the Conditions
Precedent not be fulfilled or to the extent applicable, waived on or before 13 September 2020 or such later date as the Original Lender may
agree in writing then this Amendment Agreement shall never become of any force
or effect.

3.                      
 Amendments

With effect from the Amendment
Date, the Revolving Credit Facility Agreement is hereby amended as follows:

3.1                   
 the deletion of clause
1.1.1A in its entirety;

3.2                   
 the deletion of clause
1.1.10 in its entirety and the replacement thereof with the following new
clause 1.1.10:

"Available Commitment" means the
Lender's Commitment under the Facility minus (subject as set out below): 

1.1.10.1 the amount of its participation in any
outstanding Loans under the Facility; and

1.1.10.2 in relation to any proposed
Utilisation, the amount of its participation in any Loans that are due to be
made under the Facility on or before the proposed Utilisation Date; 

provided that for the purposes of calculating
the Available Commitment in relation to any proposed Utilisation under the
Facility, the Loans that are due to be repaid or prepaid on or before the
proposed Utilisation Date shall not be deducted from the Lender's Commitment;"

3.3                   
 the deletion of clause 1.1.15A
in its entirety;

 83 

   

  

3.4                   
 the deletion of clause 1.1.15B
in its entirety;

3.5                   
 the deletion of the amount "ZAR300
000 000 (three hundred million rand)" at clause 1.1.17 (Commitment)
and the replacement thereof with "ZAR200 000 000 (two hundred million
rand)"; 

3.6                   
 the deletion of clause
1.1.41 in its entirety and the replacement thereof with the following new
clause 1.1.41 "1.1.41  Final Repayment Date means
13 September 2022."

3.7                   
 the deletion of clause
1.1.50A in its entirety;

3.8                   
 the deletion of clause
1.1.50B in its entirety;

3.9                   
 the deletion of clause
1.1.50C in its entirety;

3.10               
 the deletion of the numbers
and words "325 (three hundred and twenty-five)" at clause 1.1.69
(Margin) and the replacement thereof with "275 (two hundred and seventy-five)"; 

3.11               
 the deletion of clause
1.1.71A in its entirety;

3.12               
 the deletion of the amount "ZAR300
000 000 (three hundred million rand)" at clause 1.1.124 (Total
Commitments) and the replacement thereof with "ZAR200 000 000 (two
hundred million rand)"; 

3.13               
 the deletion of clause
1.1.2A in its entirety;

3.14               
 the deletion of clause 3 in
its entirety and the replacement thereof with the following new clause 3:

"3. Purpose 

The Borrower shall be entitled
to utilise the Facility for the purpose of: 

3.1.1 funding the capital expenditure for Phase 1 of the
West Rand Tailing Retreatment Project, and/or 

3.1.2 the Group's general working capital requirements."

3.15               
 the deletion of clause 4.1A
in its entirety;

3.16               
 the deletion of clause 4.2A
in its entirety;

3.17               
 the deletion of clause 5A in
its entirety;

3.18               
 the deletion of clause 6A in
its entirety;

3.19               
 the deletion of clause
20.1.2 in its entirety and the replacement thereof with the following new
clause 20.1.2:

"20.1.2   "EBITDA" means, in
respect of any Measurement Period, the consolidated net operating profit of the
Group (as determined in accordance with IFRS in each case during such
Measurement Period) before the inclusion of the following items:

20.1.2           any interest (including
interest related to the unwinding of any provision), commission, fees,
discounts, prepayment fees, premiums or charges and other finance payments
whether paid, payable or capitalised by any member of the Group (calculated on
a consolidated basis);

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20.1.2.2.     Tax
charged (including deferred tax) per the income statement;

20.1.2.3.     interest received on any cash and
cash equivalents;

20.1.2.4.     depreciation, amortisation of
intangible assets or impairment of all assets of members of the Group (and
taking no account of the reversal of any previous impairment charge made in
that Measurement Period); 

20.1.2.5.     the amount of any profit (or
adding back the amount of any loss) of any member of the Group which is
attributable to minority interests;

20.1.2.6.     any non-cash adjustments in accordance
with IFRS;

20.1.2.7.     the amount of any profit of any
Non-Group Entity to the extent that the amount of the profit included in the
financial statements of the Group exceeds the amount actually received in cash
by members of the Group through distributions by the Non-Group Entity;

20.1.2.8.     unrealised gains or losses on any
financial instrument (other than any derivative instrument which is accounted
for on a hedge accounting basis);

20.1.2.9.     the amount of any gain or loss
arising from an upward or downward revaluation of any other asset at any time
after 30 June 2017; 

20.1.2.10.   any Pension Items;

20.1.2.11.    costs related to acquisitions and retrenchments
that, save as otherwise agreed by the Original Lender in writing, cumulatively
do not exceed ZAR20,000,000 (twenty million rand) for the period commencing on
the Amendment Date up to and including the Final Repayment Date;

20.1.2.12.   after deducting operating lease
expenses relating to a lease or hire purchase contract that would have been
treated as an operating lease in accordance with IFRS in force prior to 1
January 2019 (namely before the implementation of IFRS 16),

in each case, to the extent added, deducted or
taken into account, as the case may be, for the purposes of determining
operating profits of the Group before taxation.";

3.20               
 the deletion of clause 22.20.4
in its entirety;

3.21               
 the deletion of clause 22.20.5
in its entirety;

3.22               
 the deletion of Part II of
Schedule 3 in its entirety;

3.23               
 the deletion of the words "A
Borrower" wherever it appears in Revolving Credit Facility Agreement and
the replacement thereof with "The Borrower"; and

3.24               
 the deletion of the words "a
Facility" wherever it appears in the Revolving Credit Facility
Agreement and the replacement thereof with "the Facility". 

 83 

   

  

4.                      
 Representations

The Repeated Representations are made and deemed to be
made, as applicable, by each Obligor (by reference to the facts and
circumstances then existing) on:

4.1                   
 the Signature Date; and

4.2                   
 the Amendment Date,

5.                      
  Continuity
and Further Assurances

5.1                   
 Continuing obligations

5.1.1             
 The provisions of the Revolving
Credit Facility Agreement shall, save as amended by this Amendment Agreement,
continue in full force and effect.

5.1.2             
 The Parties record that the
amendments to the Revolving Credit Facility Agreement which are provided for in
this Amendment Agreement shall not (and are in no way intended to) constitute a
novation by any of the Parties of the agreement recorded in the Revolving Credit
Facility Agreement.

5.1.3             
 The provisions of this Amendment
Agreement will prevail where there is any conflict with the Revolving Credit Facility
Agreement.

5.2                   
 Confirmation of Guarantee
Obligations

Each Guarantor confirms for the benefit of the
Finance Parties that the guarantee and indemnity given by it in clause 17
(Guarantee and Indemnity) under the Revolving Credit Facility Agreement shall:

5.2.1             
 remain in full force and
effect notwithstanding the amendments thereto; and 

5.2.2             
 extend to any new
obligations assumed by any Obligor.

5.3                   
 Confirmation of Security

5.4                   
 The Borrower confirms for
the benefit of the Finance Parties that the Security created by it pursuant to
each Security Document to which it is a party shall, subject to the enforcement
or similar limitations set out in the respective Security Document remains in
full force and effect notwithstanding the amendments referred to in clause 3 (Amendments).

5.5                   
 Further assurance

Each Obligor shall, at the reasonable request of the Original
Lender and at such Obligor's own expense, do all such acts and things necessary
to give effect to the amendments effected or to be effected pursuant to this Amendment
Agreement.

6.                      
 Upfront Fee

6.1                   
 The Borrower shall pay to
the Original Lender an Upfront Fee computed at a rate of 0.5 per cent. of the
Total Commitments, which Upfront Fee shall have accrued on the Signature Date and
be payable on the Amendment Date.  

 83 

   

  

6.2                   
 The Upfront Fee is exclusive
of VAT or any similar taxes chargeable on or in connection with same.  If any
VAT or other similar taxes become chargeable, such taxes shall be added to such
fee at the appropriate rate and shall be paid by the Borrower together with the
fee itself pursuant to the aforegoing provision of clause 6.1.

6.3                   
 The Upfront Fee:

6.3.1             
 shall be paid by means of
electronic funds transfer into such bank account as the Original Lender has
previously notified to the Borrower; and

6.3.2             
 is, once paid,
non-refundable.

7.                      
 Designation  

This Amendment Agreement is hereby designated as a Finance
Document by the Original Lender and the Borrower.

8.                      
 Signature

8.1                   
 This Amendment Agreement may
be executed in counterparts, each of which shall be deemed an original, and all
of which together shall constitute one and the same Agreement as at the Signature
Date.

8.2                   
 The persons signing this Amendment
Agreement in a representative capacity warrant their authority to do so.

8.3                   
 The Parties record that it
is not required for this Amendment Agreement to be valid and enforceable that a
Party shall initial the pages of this Amendment Agreement and/or have its
signature of this Amendment Agreement verified by a witness. 

8.4                   
 This Amendment Agreement has
been entered into on the Signature
Date.

 

 

 83 

   

  

SIGNATURES

	
  DRDGOLD Limited as Borrower
  and Original Obligor

  	
   

  	
  DRDGOLD Limited as
  Borrower and Original Obligor

  
	
  represented
  by:

  	
   

  	
  represented
  by:

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Date:

  	
   

  

 

 

	
  Ergo Mining Proprietary Limited as Original Obligor and Hedge Counterparty

  	
   

  	
  Ergo Mining Proprietary Limited as Original Obligor and Hedge Counterparty

  
	
  represented
  by:

  	
   

  	
  represented
  by:

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Date:

  	
   

  

 

 

	
  Far West Gold Recoveries Proprietary Limited as Additional Guarantor

  	
   

  	
  Far West Gold Recoveries Proprietary Limited as Additional Guarantor

  
	
  represented
  by:

  	
   

  	
  represented
  by:

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Date:

  	
   

  

 

 

 83 

   

  

	
  Absa Bank Limited (acting through its
  Corporate Investment Banking Division) as Mandated Lead Arranger and Original Lender 

  	
   

  	
  Absa Bank Limited (acting through its Corporate Investment Banking
  Division) as Mandated Lead
  Arranger and Original Lender 

  
	
  represented
  by:

  	
   

  	
  represented
  by:

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Date:

  	
   

  

 

	
  Absa Bank Limited (acting through its Corporate Investment Banking
  Division) as Hedge Provider

  	
   

  	
  Absa Bank Limited (acting through its Corporate Investment Banking
  Division) as Hedge Provider

  
	
  represented
  by:

  	
   

  	
  represented
  by:

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Date:

  	
   

  

 83 

   

  

Schedule 1

Guarantors

 

	
  Name of Original Guarantors

  	
  Registration number (or equivalent, if any)

  
	
  DRDGold Limited

  	
  1895/000926/06

  	 

	
  ERGO Mining Proprietary Limited

  	
  2007/004886/07

  	 

	
  Names of Additional Guarantors

  	
  Registration number (or equivalent, if any)

  
	
  Far West Gold Recoveries Proprietary Limited

  	
  2017/449061/07

  	 

 

 

 

 83 

   

  

Schedule 2

Conditions Precedent

1.                      
 Corporate
authorisations

1.1                   
 A copy of a resolution of
the board of directors of each Obligor:

1.1.1             
 approving the terms of, and
the transactions contemplated by, this Amendment Agreement and resolving that
it execute this Amendment Agreement and any other agreement or document in
connection with this Amendment Agreement;

1.1.2             
 authorising a specified
person or persons to execute this Amendment Agreement and any other agreement
or document in connection with this Amendment Agreement; and

1.1.3             
 authorising a specified
person or persons, on its behalf, to sign and/or despatch all documents and
notices to be signed and/or despatched by it under or in connection with this
Amendment Agreement.

1.2                   
 To the extent required by
the Companies Act or other applicable law, and with reference to the
constitutional documents of an Obligor, a copy of a resolution duly passed by
the holders of the issued shares of that Obligor, approving the terms of, and
the transactions contemplated by this Amendment Agreement.

2.                      
 Finance Documents

The
Original Lender has received a duly executed original or
portable format file (PDF) of this Amendment Agreement. The Obligors must
courier their duly executed “wet-ink” signatures to this Amendment Agreement to
the Original Lender within 7 Business Days from the Amendment Date.

3.                      
 No material adverse effect

The
Finance Parties are satisfied that no Material Adverse Effect has occurred.

4.                      
 Formalities
Certificate

4.1                   
 A formalities certificate (in
the form set out in Schedule 3) signed by a duly authorised officer of each Obligor
stating that, amongst others:

4.1.1             
 the warranties and
representations given by it in clause 18 (Representations) of the Revolving
Credit Facility Agreement shall be correct in all material respects on the Amendment
Date;

4.1.2             
 no Event of Default shall
have occurred and be continuing as at the Amendment Date which is continuing;

4.1.3             
 as at the Amendment Date it
is solvent and is able to meet its liabilities as and when they fall due; and

                             

4.1.4             
 entering into this Amendment
Agreement would not cause any borrowing, guaranteeing or similar limit binding
on it to be exceeded.

4.2                   
 A certificate of an
authorised signatory of each Obligor certifying that each copy document
relating to it specified in this Schedule 2 is correct, complete and in full force and effect as at a
date no earlier than the Amendment Date.

 83 

   

  

4.3                   
 A specimen of the signature
of each person authorised by the resolutions referred to in paragraph 1
above to sign on behalf of an Obligor.

5.                      
 Legal opinion

5.1                   
 A legal opinion of ENS,
legal advisers to the Obligors in South Africa, in a form acceptable to the
Finance Parties.

5.2                   
 A legal opinion of CMS,
legal advisers to the Finance Parties in South Africa, in a form acceptable to
the Finance Parties.

6.                      
 Other documents and
evidence

The Original Lender shall have received:

6.1                   
 a copy of any other
authorisation or other document, opinion or assurance which Original Lender
considers to be necessary in connection with the entry into and performance of
the transactions contemplated by this Amendment Agreement or for the validity
and enforceability of this Amendment Agreement or any other Finance Document;
and

6.2                   
 evidence that the fees
(including the Upfront Fee), any costs and expenses due from any Obligor have
been paid or will be paid by the Amendment Date.

 

 

 83 

   

  

Schedule 3

Formalities Certificate

 

To:                   Absa Bank Limited (acting through its
Corporate and Investment Banking division)

15 Alice Lane

Sandton

2196

  

Attention:    Original Lender

________________ 2020

 

Dear Sirs

[•] Proprietary
Limited Formalities Certificate

1.                      
 I,
_________________________________, being a director of [•] (the Relevant
Party) being duly authorised by the Relevant Party to deliver this
certificate hereby make the following certifications on behalf of the Relevant
Party.

2.                      
 Capitalised terms not
otherwise defined herein shall, unless the context otherwise requires, have the
meanings ascribed to them in

2.1                   
 the written agreement
entitled Revolving Credit Facility Agreement entered into amongst
Absa Bank Limited (acting through its Corporate and Investment Banking Division),
DRDGold Limited and Ergo Mining Proprietary Limited on or about 1 August 2018
(as amended from time to time); and

2.2                   
 the written agreement
entitled Second Addendum to the Revolving Credit Facility Agreement entered
into on 1 August 2018 entered into on _____September 2020 (Addendum). 

3.                      
 Authorised
signatories

The signatures which appear below are the specimen
signatures of each person authorised on behalf of the Relevant Party to execute the Addendum and to sign and/or
despatch all documents and notices to be signed and/or 

 83 

   

  

despatched
by it under or in connection with the Addendum. We certify that the specimen
signatures appearing opposite their names are the true and correct signatures
of such persons: 

4.                      
 Name               Signature

[•]          ..........................................................

[•]          ..........................................................

5.                      
 Warranties and
representations

The warranties
and representations given by it in clause 18 (Representations) of the Revolving
Credit Facility Agreement shall be correct in all material respects on the
Amendment Date.

6.                      
 No default

No Event of Default shall have occurred and be continuing as
at the Amendment Date.

7.                      
 Solvency

As at the Amendment Date, the Relevant Party is solvent and
is able to meet its liabilities as and when they fall due.

8.                      
 No breach of limits

The entering into of the Addendum would not cause any
borrowing, guaranteeing or similar limit binding on it to be exceeded.

9.                      
 True and complete
copies

Each copy document
relating to the Relevant Party referred to and provided to the Original Lender pursuant to
this certificate and the Addendum is correct, complete and in full force and
effect as at a date no earlier than the Amendment Date and that no such
document has been amended, varied or superseded.

 

Yours faithfully

 

For
and on behalf of

[•]

____________________________

Name:

Capacity:

Who
warrants authority

 83

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