Document:

Exhibit 10.11

 

JGWPT HOLDINGS INC. 

FORM OF 2013 OMNIBUS INCENTIVE PLAN

 

1.                 
Purpose; Establishment. The purpose of this JGWPT Holdings Inc. 2013 Omnibus Incentive
Plan (the “Plan”) is to provide an additional incentive to selected officers, employees, non-employee directors
and consultants of the Company or its Subsidiaries (as hereinafter defined) whose contributions are essential to the growth and
success of the Company’s business, in order to strengthen the commitment of such persons to the Company and its Subsidiaries,
motivate such persons to faithfully and diligently perform their responsibilities and attract and retain competent and dedicated
persons whose efforts will result in the long-term growth and profitability of the Company. To accomplish such purposes, the Plan
provides that the Company may grant Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Stock Bonuses,
Other Stock-Based Awards, Cash Awards or any combination of the foregoing.The Plan shall
be effective as of ___________ __, 2013 (the “Effective Date”).

 

2.                 
Definitions. As used in the Plan, the following definitions apply to the terms indicated
below:

 

		(a)	“Administrator” means the Board, or, if and to the extent the Board delegates such responsibility, the Committee
in accordance with Section 4 hereof.

 

		(b)	“Affiliate” means a Person that directly, or indirectly through one or more intermediaries, controls, or
is controlled by, or is under common control with, the Person specified. An entity shall be deemed an Affiliate of the Company
for purposes of this definition only for such periods as the requisite ownership or control relationship is maintained.

 

		(c)	“Agreement” shall mean the writing evidencing an Award or a notice of an Award delivered to a Participant
by the Company.

 

		(d)	“Award” shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Stock
Bonus, Other Stock-Based Award or Cash Award granted pursuant to the terms of the Plan.

 

		(e)	“Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act.

 

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

 

		(g)	“Cash Award” shall mean an Award granted under Section 13 of the Plan.

 

    	 

    	 

    

 

		(h)	“Cause” shall have meaning set forth in the Participant’s employment agreement or similar arrangement
with the Company or a Subsidiary; provided that if no such agreement or definition exists, “Cause” shall mean, unless
otherwise specified in an Agreement, (i) the Participant’s willful failure to perform his or her duties to the Company and
its Affiliates, which duties are commensurate with those of the position for which the Participant is then employed; (ii) the Participant’s
failure to follow the express instructions of the Board or the Participant’s direct or indirect supervisors; (iii) any material
violation by the Participant of the policies of the Company or an Affiliate thereof set forth in a written code of conduct or similar
document and applicable to the Participant that is not cured within five (5) days after notice thereof to the Participant; (iv)
any act of gross negligence, fraud or willful misconduct by the Participant materially injuring the interest, business or reputation
of the Company or any Affiliate thereof; (v) the Participant’s commission of any felony or any crime involving moral turpitude;
(vi) the Participant’s misappropriation or embezzlement of the property of the Company or any Affiliate thereof; or (vii)
any material breach by the Participant of any written agreement between the Participant and the Company or any Affiliate thereof.

 

		(i)	“Change in Control” shall mean the occurrence of an event set forth in any one of the following paragraphs:

 

		(i)	Any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 50% or more
of the combined voting power of the Company’s then outstanding voting securities, excluding any Person who becomes such a
Beneficial Owner in connection with a transaction described in clause (I) of paragraph (iii) below;

 

		(ii)	The following individuals cease for any reason to constitute a majority of the number of directors then serving on the Board:
individuals who, on the Effective Date, constitute the Board and any new director (other than a director whose initial assumption
of office is in connection with an actual or threatened election contest, including, but not limited to, a consent solicitation,
relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by
the Company’s stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still
in office who either were directors on the Effective Date or whose appointment, election or nomination for election was previously
so approved or recommended;

 

		(iii)	There is consummated a merger or consolidation of the Company or any direct or indirect Subsidiary with any other corporation
or other entity, other than (I) a merger or consolidation which results in (A) the voting securities of the Company outstanding
immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity or any parent thereof), in combination with the ownership of any trustee or other
fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary, more than 50% of the combined voting
power of the securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger
or consolidation and (B) the individuals who comprise the Board immediately prior thereto constituting immediately thereafter at
least a majority of the board of directors of the Company, the entity surviving such merger or consolidation or, if the Company
or the entity surviving such merger is then a Subsidiary, the ultimate parent thereof, or (II) a merger or consolidation effected
to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner,
directly or indirectly, of securities of the Company (not including in the securities Beneficially Owned by such Person any securities
acquired directly from the Company or its Affiliates) representing 50% or more of the combined voting power of the Company’s
then outstanding securities; or

 

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		(iv)	The stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated
an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets (it being conclusively
presumed that any sale or disposition is a sale or disposition by the Company of all or substantially all of its assets if the
consummation of the sale or disposition is contingent upon approval by the Company’s stockholders unless the Board expressly
determines in writing that such approval is required solely by reason of any relationship between the Company and any other Person
or an Affiliate of the Company and any other Person), other than a sale or disposition by the Company of all or substantially all
of the Company’s assets to an entity (A) at least 50% of the combined voting power of the voting securities of which are
owned by stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior
to such sale or disposition and (B) the majority of whose board of directors immediately following such sale or disposition consists
of individuals who comprise the Board immediately prior thereto.

 

Notwithstanding the foregoing, (1)
a Change in Control shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated
transactions immediately following which the holders of Company Stock immediately prior thereto continue to have substantially
the same proportionate ownership in an entity which owns all or substantially all of the assets of the Company immediately following
such transaction or series of transactions and (2) if required to avoid accelerated taxation and/or tax penalties under Section
409A of the Code, a Change in Control shall be deemed to have occurred for purposes of the payment or settlement of such Award
under the Plan only if a “change in the ownership of the corporation,” a “change in effective control of the
corporation” or a “change in the ownership of a substantial portion of the assets of the corporation,” within
the meaning of Section 409A(a)(2)(A)(v) of the Code shall also be deemed to have occurred.

 

		(j)	“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

 

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		(k)	“Committee” shall mean a committee of the Board, which shall consist of two or more individuals, each of
whom shall qualify as (A) an “outside director” within the meaning of Section 162(m) of the Code, (B) a “nonemployee
director” within the meaning of Rule 16b-3 and (C) an “independent director” within the meaning of the New York
Stock Exchange Listed Company Manual.

 

		(l)	“Company” shall mean JGWPT Holdings Inc., a Delaware corporation, and, where appropriate, each of its Affiliates
and successors.

 

		(m)	“Company Stock” shall mean the Class A common stock of the Company, par value $0.01 per share.

 

		(n)	“Covered Employee” shall have the meaning ascribed to the term “covered employee” set forth
in Section 162(m) of the Code.

 

		(o)	“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

 

		(p)	“Fair Market Value” shall mean, with respect to a share of Company Stock on a particular date, (i) the closing
price of Company Stock as quoted on the composite tape of the New York Stock Exchange and published in The Wall Street Journal
with respect to such date, or if there is no trading of Company Stock on such date, such price on the next preceding date on which
there was trading in such shares, (ii) if the shares of Company Stock are then traded in an over-the-counter market, the average
of the closing bid and asked prices for the shares of Company Stock in such over-the-counter market for the last preceding date
on which there was a sale of such Company Stock in such market, or (iii) if the shares of Company Stock are not then listed on
a national securities exchange or traded in an over-the-counter market, such value as the Administrator, in its sole discretion,
shall determine in good faith using a reasonable method in accordance with Section 409A of the Code.

 

		(q)	“Good Reason” shall have meaning set forth in the Participant’s employment agreement with the Company;
and if no such agreement or definition exists, “Good Reason” shall not apply to the Participant unless otherwise specified
in an Agreement.

 

		(r)	“Incentive Stock Option” shall mean an Option that qualifies as an “incentive stock option”
within the meaning of Section 422 of the Code, or any successor provision, and which is designated by the Administrator as an Incentive
Stock Option.

 

		(s)	“Nonqualified Stock Option” shall mean an Option other than an Incentive Stock Option.

 

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		(t)	“Option” shall mean an option to purchase shares of Company Stock granted pursuant to Section 7.

 

		(u)	“Other Stock-Based Award” shall mean an Award granted pursuant to Section 12 hereof.

 

		(v)	“Participant” shall mean an officer, employee, non-employee director or consultant of the Company or a Subsidiary
to whom an Award is granted pursuant to the Plan.

 

		(w)	“Performance Goals” shall mean (i) earnings, including one or more of operating income, earnings before
or after taxes, earnings before or after interest, depreciation, amortization, adjusted EBITDA, economic earnings, or extraordinary
or special items or book value per share (which may exclude nonrecurring items); (ii) pre-tax income, after-tax income or adjusted
net income; (iii) earnings per share (basic or diluted); (iv) operating profit; (v) revenue, revenue growth or rate of revenue
growth; (vi) return on assets (gross or net), return on investment, return on capital, or return on equity; (vii) returns on sales
or revenues; (viii) operating expenses; (ix) stock price appreciation; (x) cash flow, free cash flow, cash flow return on
investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital; (xi) implementation
or completion of critical projects or processes; (xii) cumulative earnings per share growth; (xiii) operating margin or profit
margin; (xiv) cost targets, reductions and savings, productivity and efficiencies; (xv) strategic business criteria, consisting
of one or more objectives based on meeting specified market penetration, geographic business expansion, customer satisfaction,
employee satisfaction, human resources management, supervision of litigation and/or information technology goals, goals relating
to acquisitions, divestitures, joint ventures and/or similar transactions and/or goals relating to budget comparisons; (xvi) personal
professional objectives, including, without limitation, any of the foregoing performance goals, the implementation of policies
and plans, the negotiation of transactions, the development of long term business goals, formation of joint ventures, research
or development collaborations, and the completion of other corporate transactions; and (xvii) any combination of, or a specified
increase or decrease in, any of the foregoing. Where applicable, the Performance Goals may be expressed in terms of attaining a
specified level of the particular criteria or the attainment of a percentage increase or decrease in the particular criteria, and
may be applied to one or more of the Company, an Affiliate thereof, or a division or strategic business unit of the Company, or
may be applied to the performance of the Company relative to a market index, a group of other companies or a combination thereof,
all as determined by the Administrator. The Performance Goals may be subject to a threshold level of performance below which no
payment will be made (or no vesting will occur), levels of performance at which specified payments will be made (or specified vesting
will occur), and a maximum level of performance above which no additional payment will be made (or at which full vesting will occur).
Each of the Performance Goals shall be determined, where applicable and except as otherwise provided by the Administrator, in accordance
with generally accepted accounting principles (to the extent applicable) and shall be subject to certification by the Administrator;
provided that the Administrator shall have the authority to make equitable adjustments to the Performance Goals in recognition
of unusual or non-recurring events affecting the Company or any Affiliate thereof or the financial statements of the Company or
any Affiliate thereof, in response to changes in applicable laws or regulations, or to account for items of gain, loss or expense
determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business
or related to a change in accounting principles.

 

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		(x)	“Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections
13(d) and 14(d) thereof, except that such term shall not include (i) the Company or any Subsidiary thereof, (ii) JLL Partners,
Inc. or any Affiliate thereof, (iii) DLJ Merchant Banking Partners IV, L.P. or any Affiliate thereof, (iv) a trustee or other fiduciary
holding securities under an employee benefit plan of the Company or any Subsidiary thereof, (v) an underwriter temporarily holding
securities pursuant to an offering of such securities, or (vi) a corporation owned, directly or indirectly, by the shareholders
of the Company in substantially the same proportions as their ownership of stock of the Company.

 

		(y)	“Qualifying Termination” shall mean a termination of employment by the Company other than for Cause or by
the Participant with Good Reason.

 

		(z)	“Restricted Stock” shall mean a share of Company Stock which is granted pursuant to the terms of Section
9 hereof and which is subject to restrictions as set forth in Section 9(d).

 

		(aa)	“Restricted Stock Unit” shall mean the right, granted pursuant to Section 10, to receive the Fair Market
Value of a share of Company Stock or, in the case of an Award denominated in cash, to receive the amount of cash per unit that
is determined by the Administrator in connection with the Award.

 

		(bb)	“Retirement” shall mean termination of a Participant’s employment, other than for Cause, on or after
the date on which the Participant has both (a) achieved ten years of employment or service and (b) attained age 65.

 

		(cc)	“Rule 16b-3” shall mean the Rule 16b-3 promulgated under the Exchange Act, as amended from time to time.

 

		(dd)	“Securities Act” shall mean the Securities Act of 1933, as amended from time to time.

 

		(ee)	“Stock Appreciation Right” shall mean the right to receive, upon exercise of the right, the applicable amounts
as described in Section 8.

 

		(ff)	“Stock Bonus” shall mean a bonus payable in fully vested shares of Company Stock granted pursuant to Section
11.

 

		(gg)	“Subsidiary” shall mean, with respect to any person, as of any date of determination, any other person as
to which such first person owns or otherwise controls, directly or indirectly, more than 50% of the voting shares or other similar
interests or a sole general partner interest or managing member or similar interest of such other person. For purposes of this
definition “person” has the meaning given in Section 3(a)(9) of the Exchange Act, as
modified and used in Sections 13(d) and 14(d) thereof.

 

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		3.	Stock Subject to the Plan; Certain Limitations; Adjustments.

 

		(a)	Shares Available for Awards. The maximum number of shares of Company Stock reserved for issuance under the Plan shall
be ________ shares (subject to adjustment as provided by Section 3(c)), all of which may be granted in respect of Options (including
Incentive Stock Options) or Stock Appreciation Rights. Such shares may be authorized but unissued shares of Company Stock or authorized
and issued shares of Company Stock held in the Company’s treasury.

 

		(b)	Individual Awards. Notwithstanding anything in this Plan to the contrary, and subject to adjustment as provided by Section
3(c), from and after such time as the Plan is subject to Section 162(m) of the Code:

 

		(i)	No individual (including an individual who is likely to be a Covered Employee) will be granted Options or Stock Appreciation
Rights for more than 25% of the shares of Company Stock reserved for issuance under the Plan as of the Effective Date (subject
to adjustment as provided by Section 3(c)) during any calendar year.

 

		(ii)	No individual who is likely to be a Covered Employee with respect to a calendar year will be granted (A) Restricted Stock,
Restricted Stock Units, a Stock Bonus or Other Stock-Based Awards for more than 25% of the shares of Company Stock reserved for
issuance under the Plan as of the Effective Date (subject to adjustment as provided by Section 3(c)) during such calendar year
or (B) a Cash Award in cash in excess of $5,000,000 during such calendar year.

 

		(c)	Adjustment for Change in Capitalization. In the event that any special or extraordinary dividend or other extraordinary
distribution is declared (whether in the form of cash, Company Stock, or other property), or there occurs any recapitalization,
stock split, reverse stock split, reorganization, merger, consolidation, spin-off, combination, repurchase, share exchange or other
similar corporate transaction or event, the Administrator shall adjust, as it deems necessary or appropriate, (1) the number and
kind of shares of stock which may thereafter be issued in connection with Awards, (2) the number and kind of shares of stock or
other property, including cash, issued or issuable in respect of outstanding Awards, (3) the exercise price, grant price or purchase
price relating to any Award, and (4) the limitations set forth in Sections 3(a) and (b); provided that, with respect to Incentive
Stock Options, such adjustment shall be made in accordance with Section 424 of the Code; and provided further that no such adjustment
shall cause any Award hereunder which is or becomes subject to Section 409A of the Code to fail to comply with the requirements
of such section.

 

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		(d)	Reuse of Shares. If any shares of Company Stock subject to an Award are forfeited, cancelled, exchanged or surrendered
or if an Award otherwise terminates or expires without a distribution of shares to the Participant, the shares of Company Stock
with respect to such Award shall, to the extent of any such forfeiture, cancellation, exchange, surrender, termination or expiration,
again be available for Awards under the Plan. Notwithstanding the foregoing, shares of Company Stock that are exchanged by a Participant
or withheld by the Company as full or partial payment in connection with any Option or Stock Appreciation Right under the Plan,
as well as any shares of Company Stock exchanged by a Participant or withheld by the Company or any Subsidiary to satisfy the tax
withholding obligations related to any Option or Stock Appreciation Right under the Plan, shall not be available for subsequent
Awards under the Plan, and notwithstanding that a Stock Appreciation Right is settled by the delivery of a net number of shares
of Company Stock, the full number of shares of Company Stock underlying such Stock Appreciation Right shall not be available for
subsequent Awards under the Plan. Upon the exercise of any Award granted in tandem with any other Awards, such related Awards shall
be cancelled to the extent of the number of shares of Company Stock as to which the Award is exercised and, notwithstanding the
foregoing, such number of shares shall no longer be available for Awards under the Plan. In addition, (i) to the extent an Award
is denominated in shares of Company Stock, but paid or settled in cash, the number of shares of Company Stock with respect to which
such payment or settlement is made shall again be available for grants of Awards pursuant to the Plan and (ii) shares of Company
Stock underlying Awards that can only be settled in cash shall not be counted against the aggregate number of shares of Company
Stock available for Awards under the Plan.

 

4.                 
Administration of the Plan. The Plan shall be administered by the Administrator.
The Administrator shall have the authority in its sole discretion, subject to and not inconsistent with the express provisions
of the Plan, to administer the Plan and to exercise all the powers and authorities either specifically granted to it under the
Plan or necessary or advisable in the administration of the Plan, including, without limitation, the authority (i) to grant Awards;
(ii) to determine the individuals to whom and the time or times at which Awards shall be granted; (iii) to determine the type and
number of Awards to be granted, the number of shares of Company Stock or cash or other property to which an Award may relate and
the terms, conditions, restrictions and performance criteria relating to any Award; (iv) to determine whether, to what extent,
and under what circumstances an Award may be settled, cancelled, forfeited, exchanged, or surrendered; (v) to determine whether
an Award may be settled in cash and/or shares of Company Stock; (vi) to construe and interpret the Plan and any Award; (vii) to
prescribe, amend and rescind rules and regulations relating to the Plan; (viii) to determine the terms and provisions of Agreements;
and (ix) to make all other determinations deemed necessary or advisable for the administration of the Plan. The Administrator may,
in its sole and absolute discretion, without amendment to the Plan, (a) accelerate the date on which any Option or Stock Appreciation
Right becomes exercisable, (b) waive or amend the operation of Plan provisions respecting exercise after termination of employment
or service (provided that the term of an Option or Stock Appreciation Right may not be extended beyond ten years from the date
of grant or the original term of the Option or Stock Appreciation Right, if less), (c) accelerate the vesting date, or waive any
condition imposed hereunder, with respect to any share of Restricted Stock, Restricted Stock Unit, Stock Bonus or Other Stock-Based
Award, and (d) otherwise adjust any of the terms applicable to any such Award in a manner consistent with the terms of the Plan
and applicable law. 

 

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5.                 
Eligibility. The individuals who shall be eligible to receive Awards under the Plan
shall be such employees of the Company and its Subsidiaries (including officers of the Company and its Subsidiaries, whether or
not they are directors of the Company), consultants to the Company and non-employee directors of the Company as the Administrator
shall select from time to time. The grant of an Award hereunder in any year to any individual shall not entitle such individual
to a grant of an Award in any future year.

 

6.                 
Awards Under the Plan; Agreement. The Administrator may grant Awards in such amounts
and with such terms and conditions as the Administrator shall determine, subject to the provisions of the Plan. Each Award granted
under the Plan (except an unconditional Stock Bonus) shall be evidenced by an Agreement which shall contain such provisions as
the Administrator may in its sole discretion deem necessary or desirable and which are not in conflict with the terms of the Plan.
By accepting an Award, a Participant shall be deemed to agree that the Award shall be subject to all of the terms and provisions
of the Plan and the applicable Agreement.

 

		7.	Options.

 

		(a)	Identification of Options. Each Option shall be clearly identified in the applicable Agreement as either an Incentive
Stock Option or a Nonqualified Stock Option. All Options shall be non-transferable, except by will or the laws of descent and distribution
or except as otherwise determined by the Administrator for estate planning purposes with respect to a Nonqualified Stock Option.

 

		(b)	Exercise Price. Each Agreement with respect to an Option shall set forth the amount per share (the “option exercise
price”) payable by the Participant to the Company upon exercise of the Option. The option exercise price shall be equal to
or greater than the Fair Market Value of a share of Company Stock on the date of grant. Other than with respect to an adjustment
described in Section 3(c), in no event shall the exercise price of an Option be reduced following the grant of an Option, nor shall
an Option be cancelled in exchange for a replacement Option with a lower exercise price or in exchange for another type of Award
or cash payment without stockholder approval.

 

		(c)	Term and Exercise of Options. 

 

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		(i)	Each Option shall become exercisable at the time or times determined by the Administrator and set forth in the applicable Agreement.
At the time of grant of an Option, the Administrator may impose such restrictions or conditions to the exercisability of the Option
as it, in its absolute discretion, deems appropriate, including, but not limited to, achievement of performance criteria. Subject
to Section 7(d) hereof, the Administrator shall determine and set forth in the applicable Agreement the expiration date of each
Option, which shall be no later than the tenth anniversary of the date of grant of the Option.

 

		(ii)	An Option shall be exercised by delivering the form of notice of exercise provided by the Company or in such other form as
approved by the Company. Payment for shares of Company Stock purchased upon the exercise of an Option shall be made on the effective
date of such exercise by one or a combination of the following means: (A) in cash or by personal check, certified check, bank cashier’s
check or wire transfer; (B) in shares of Company Stock owned by the Participant and valued at their Fair Market Value on the effective
date of such exercise; (C) broker assisted cashless exercise or net exercise; or (D) by any such other method as the Administrator
may from time to time authorize in its sole discretion. Except as authorized by the Administrator, any payment in shares of Company
Stock shall be effected by the delivery of such shares to the Secretary of the Company (or his designee), duly endorsed in blank
or accompanied by stock powers duly executed in blank, together with any other documents and evidences as the Secretary of the
Company shall require.

 

		(iii)	Shares of Company Stock purchased upon the exercise of an Option shall, as determined by the Administrator, be evidenced by
a book entry record or certificate issued in the name of or for the account of the Participant or other individual entitled to
receive such shares, and delivered to the Participant or such other individual as soon as practicable following the effective date
on which the Option is exercised.

 

		(d)	Provisions Relating to Incentive Stock Options. Incentive Stock Options may only be granted to employees of the Company
and its Subsidiaries, in accordance with the provisions of Section 422 of the Code. To the extent that the aggregate Fair Market
Value of shares of Company Stock with respect to which Incentive Stock Options are exercisable for the first time by a Participant
during any calendar year under the Plan and any other stock option plan of the Company or a Subsidiary shall exceed $100,000, such
Options shall be treated as Nonqualified Stock Options. For purposes of this Section 7(d), Fair Market Value shall be determined
as of the date on which each such Incentive Stock Option is granted. No Incentive Stock Option may be granted to an individual
if, at the time of the proposed grant, such individual owns (or is deemed to own under the Code) stock possessing more than 10%
of the total combined voting power of all classes of stock of the Company unless (A) the exercise price of such Incentive Stock
Option is at least 110% of the Fair Market Value of a share of Company Stock at the time such Incentive Stock Option is granted
and (B) such Incentive Stock Option is not exercisable after the expiration of five years from the date such Incentive Stock Option
is granted. For purposes of the grant of Incentive Stock Options, a “Subsidiary” shall mean a “subsidiary corporation”
as defined in Section 424(f) of the Code.

 

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		(e)	Effect of Termination of Employment (or Provision of Services). Except as may otherwise be provided in the applicable
Agreement, and subject to the Administrator’s authority under Section 4 hereof:

 

		(i)	In the event that the employment of a Participant with the Company and its Subsidiaries (or the Participant’s service
to the Company and its Subsidiaries) shall terminate for any reason other than (A) Cause, (B) death, (C) disability or (D) Retirement,
each Option granted to such Participant that is outstanding and exercisable as of the date of such termination shall remain exercisable
for the 90-day period immediately following such termination, but in no event following the expiration of its term, and any Option
that is not exercisable as of the date of such termination shall be terminated at the time of such termination.

 

		(ii)	In the event that the employment of a Participant with the Company and its Subsidiaries (or the Participant’s service
to the Company and its Subsidiaries) shall terminate on account of the Participant’s death, disability or Retirement, each
Option granted to such Participant that is outstanding and exercisable as of the date of such termination shall remain exercisable
for the one-year period immediately following such termination, but in no event following the expiration of its term, and any Option
that is not exercisable as of the date of such termination shall be terminated at the time of such termination.

 

		(iii)	In the event that the employment of a Participant with the Company and its Subsidiaries (or the Participant’s service
to the Company and its Subsidiaries) shall be terminated for Cause, each outstanding Option granted to such Participant (whether
exercisable or not exercisable) shall terminate at the commencement of business on the date of such termination.

 

		(f)	Leave of Absence. In the case of any Participant on an approved leave of absence, the Administrator may make such provision
respecting the continuance of the Option while in the employ or service of the Company as it may deem equitable, except that in
no event may an Option be exercised after the expiration of its term.

 

		8.	Stock Appreciation Rights.

 

		(a)	Grant; Term. A Stock Appreciation Right may be granted in connection with an Option, either at the time of grant or,
with respect to a Nonqualified Stock Option, at any time thereafter during the term of the Option, or may be granted unrelated
to an Option. At the time of grant of a Stock Appreciation Right, the Administrator may impose such restrictions or conditions
to the exercisability of the Stock Appreciation Right as it, in its absolute discretion, deems appropriate, including, but not
limited to, achievement of performance criteria. The term of a Stock Appreciation Right granted without relationship to an Option
shall not exceed ten years from the date of grant. In addition, the exercise price of a Stock Appreciation Right shall be equal
to or greater than the Fair Market Value of a share of Company Stock on the date of grant.

 

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		(b)	Tandem Awards. A Stock Appreciation Right related to an Option shall require the holder, upon exercise, to surrender
such Option with respect to the number of shares as to which such Stock Appreciation Right is exercised, in order to receive payment
of any amount computed pursuant to Section 8(d). Such Option will, to the extent surrendered, then cease to be exercisable.

 

		(c)	Transferability. Subject to Section 8(h) and to such rules and restrictions as the Administrator may impose, a Stock
Appreciation Right granted in connection with an Option will be exercisable at such time or times, and only to the extent that
a related Option is exercisable. All Stock Appreciation Rights shall be non-transferable (except to the extent that such related
Option may be transferable), except by will or the laws of descent and distribution or except as otherwise determined by the Administrator
for estate planning purposes.

 

		(d)	Exercise. Upon the exercise of a Stock Appreciation Right whether related or unrelated to an Option, the holder will
be entitled to receive payment of an amount determined by multiplying:

 

		(i)	the excess of the Fair Market Value of a share of Company Stock on the date of exercise of such Stock Appreciation Right over
the exercise price of the Stock Appreciation Right, by

 

		(ii)	the number of shares as to which such Stock Appreciation Right is exercised.

 

		(e)	Limitations. Notwithstanding subsection (d) above, the Administrator may place a limitation on the amount payable upon
exercise of a Stock Appreciation Right. Any such limitation must be determined as of the date of grant and noted in the applicable
Agreement.

 

		(f)	Form of Settlement. Payment of the amount determined under subsection (d) above may be made solely in whole shares of
Company Stock valued at their Fair Market Value on the date of exercise of the Stock Appreciation Right or alternatively, in the
sole discretion of the Administrator, solely in cash or a combination of cash and shares, in each case as set forth in the applicable
Award Agreement. If the Administrator decides that payment will be made in shares of Company Stock, and the amount payable results
in a fractional share, payment for the fractional share will be made in cash.

 

		(g)	No Repricing. Other than with respect to an adjustment described in Section 3(c), in no event shall the exercise price
with respect to a Stock Appreciation Right be reduced following the grant of a Stock Appreciation Right, nor shall a Stock Appreciation
Right be cancelled in exchange for a replacement Stock Appreciation Right with a lower exercise price or in exchange for another
type of Award or cash payment without stockholder approval.

 

    	12

    	 

    
 

		(h)	Effect of Termination of Employment (or Provision of Services). Except as may otherwise be provided in the applicable
Agreement, and subject to the Administrator’s authority under Section 4 hereof:

 

		(i)	In the event that the employment of a Participant with the Company and its Subsidiaries (or the Participant’s service
to the Company and its Subsidiaries) shall terminate for any reason other than (A) Cause, (B) death, (C) disability or (D) Retirement,
each Stock Appreciation Right granted to such Participant that is outstanding and exercisable as of the date of such termination
shall remain exercisable for the 90-day period immediately following such termination, but in no event following the expiration
of its term, and any Stock Appreciation Right that is not exercisable as of the date of such termination shall be terminated at
the time of such termination.

 

		(ii)	In the event that the employment of a Participant with the Company and its Subsidiaries (or the Participant’s service
to the Company and its Subsidiaries) shall terminate on account of the Participant’s death, disability or Retirement, each
Stock Appreciation Right granted to such Participant that is outstanding and exercisable as of the date of such termination shall
remain exercisable for the one-year period immediately following such termination, but in no event following the expiration of
its term, and any Stock Appreciation Right that is not exercisable as of the date of such termination shall be terminated at the
time of such termination.

 

		(iii)	In the event that the employment of a Participant with the Company and its Subsidiaries (or the Participant’s service
to the Company and its Subsidiaries) shall be terminated for Cause, each outstanding Stock Appreciation Right granted to such Participant
(whether exercisable or not exercisable) shall terminate at the commencement of business on the date of such termination.

 

		(i)	Leave of Absence. In the case of any Participant on an approved leave of absence, the Administrator may make such provision
respecting the continuance of the Stock Appreciation Right while in the employ or service of the Company as it may deem equitable,
except that in no event may a Stock Appreciation Right be exercised after the expiration of its term.

 

    	13

    	 

    
 

		9.	Restricted Stock.

 

		(a)	Price. At the time of the grant of shares of Restricted Stock, the Administrator shall determine the price, if any,
to be paid by the Participant for each share of Restricted Stock subject to the Award.

 

		(b)	Vesting Date. At the time of the grant of shares of Restricted Stock, the Administrator shall establish a vesting date
or vesting dates with respect to such shares. The Administrator may divide such shares into classes and assign a different vesting
date for each class. Provided that all conditions to the vesting of a share of Restricted Stock are satisfied, and subject to Section
9(h), upon the occurrence of the vesting date with respect to a share of Restricted Stock, such share shall vest and the restrictions
of Section 9(d) shall lapse.

 

		(c)	Conditions to Vesting. At the time of the grant of shares of Restricted Stock, the Administrator may impose such restrictions
or conditions to the vesting of such shares as it, in its absolute discretion, deems appropriate, including, but not limited to,
achievement of performance criteria. The Administrator may also provide that the vesting or forfeiture of shares of Restricted
Stock may be based upon the achievement of, or failure to achieve, certain levels of performance and may provide for partial vesting
of Restricted Stock in the event that the maximum level of performance is not met if the minimum level of performance has been
equaled or exceeded.

 

		(d)	Restrictions on Transfer Prior to Vesting. Prior to the vesting of a share of Restricted Stock, such Restricted Stock
may not be transferred, assigned or otherwise disposed of, and no transfer of a Participant’s rights with respect to such
Restricted Stock, whether voluntary or involuntary, by operation of law or otherwise, shall be permitted. Immediately upon any
attempt to transfer such rights, such shares, and all of the rights related thereto, shall be forfeited by the Participant.

 

		(e)	Dividends on Restricted Stock. The Administrator in its discretion may require that any dividends paid on shares of
Restricted Stock be held in escrow until all restrictions on such shares have lapsed.

 

		(f)	Issuance of Certificates. The Administrator may, upon such terms and conditions as it determines, provide that (1) a
certificate or certificates representing the shares of Restricted Stock shall be registered in the Participant’s name and
bear an appropriate legend specifying that such shares are not transferable and are subject to the provisions of the Plan and the
restrictions, terms and conditions set forth in the applicable Agreement, (2) such certificate or certificates shall be held in
escrow by the Company on behalf of the Participant until such shares become vested or are forfeited or (3) the Participant’s
ownership of the Restricted Stock shall be registered by the Company in book entry form.

 

    	14

    	 

    
 

		(g)	Consequences of Vesting. Upon the vesting of a share of Restricted Stock pursuant to the terms hereof, the restrictions
of Section 9(d) shall lapse with respect to such share. Following the date on which a share of Restricted Stock vests, the Company
shall, as determined by the Administrator, make a book entry record of such share or cause to be delivered to the Participant to
whom such share was granted, a certificate evidencing such share, either of which may bear a restrictive legend, if the Administrator
determines such a legend to be appropriate.

 

		(h)	Effect of Termination of Employment (or Provision of Services). Except as may otherwise be provided in the applicable
Agreement, and subject to the Administrator’s authority under Section 4 hereof, upon the termination of a Participant’s
employment with the Company and its Subsidiaries (or the Participant’s service to the Company and its Subsidiaries) for any
reason, any and all shares to which restrictions on transferability apply shall be immediately forfeited by the Participant and
transferred to, and reacquired by, the Company. In the event of a forfeiture of shares pursuant to this section, the Company shall
repay to the Participant (or the Participant’s estate) any amount paid by the Participant for such shares.

 

		10.	Restricted Stock Units.

 

		(a)	Vesting Date. At the time of the grant of Restricted Stock Units, the Administrator shall establish a vesting date or
vesting dates with respect to such units. The Administrator may divide such units into classes and assign a different vesting date
for each class. Provided that all conditions to the vesting of the Restricted Stock Units imposed pursuant to Section 10(c) are
satisfied, and subject to Section 10(d), upon the occurrence of the vesting date with respect to the Restricted Stock Units, such
units shall vest.

 

		(b)	Benefit Upon Vesting. Unless otherwise provided in an Agreement, upon the vesting of Restricted Stock Units, the Participant
shall be paid, within 30 days of the date on which such units vest, an amount, in cash and/or shares of Company Stock, as determined
by the Administrator. In the case of Awards denominated in shares of Company Stock, the amount per Restricted Stock Unit shall
be equal to the sum of (1) the Fair Market Value of a share of Company Stock on the date on which such Restricted Stock Unit vests
and (2) the aggregate amount of cash dividends paid with respect to a share of Company Stock during the period commencing on the
date on which the Restricted Stock Unit was granted and terminating on the date on which such unit vests. In the case of Awards
denominated in cash, the amount per Restricted Stock Unit shall be equal to the cash value of the Restricted Stock Unit on the
date on which such Restricted Stock Unit vests.

 

		(c)	Conditions to Vesting. At the time of the grant of Restricted Stock Units, the Administrator may impose such restrictions
or conditions to the vesting of such units as it, in its absolute discretion, deems appropriate, including, but not limited to,
achievement of performance criteria.

 

    	15

    	 

    
 

		(d)	Effect of Termination of Employment (or Provision of Services). Except as may otherwise be provided in the applicable
Agreement, and subject to the Administrator’s authority under to Section 4 hereof, Restricted Stock Units that have not vested,
together with any dividend equivalents deemed to have been credited with respect to such unvested units, shall be forfeited upon
the Participant’s termination of employment (or upon cessation of such Participant’s services to the Company) for any
reason.

 

11.             
Stock Bonuses. In the event that the Administrator grants a Stock Bonus, the shares
of Company Stock constituting such Stock Bonus shall, as determined by the Administrator, be evidenced by a book entry record or
a certificate issued in the name of the Participant to whom such grant was made and delivered to such Participant as soon as practicable
after the date on which such Stock Bonus is payable. 

 

12.             
Other Stock-Based Awards. Other forms of Awards valued in whole or in part by reference
to, or otherwise based on, Company Stock, including but not limited to dividend equivalents, may be granted either alone or in
addition to other Awards (other than in connection with Options or Stock Appreciation Rights) under the Plan. Subject to the provisions
of the Plan, the Administrator shall have sole and complete authority to determine the individuals to whom and the time or times
at which such Other Stock-Based Awards shall be granted, the number of shares of Company Stock to be granted pursuant to such Other
Stock-Based Awards, or the manner in which such Other Stock-Based Awards shall be settled (e.g., in shares of Company Stock or
cash), or the conditions to the vesting and/or payment or settlement of such Other Stock-Based Awards (which may include, but not
be limited to, achievement of performance criteria) and all other terms and conditions of such Other Stock-Based Awards. 

 

13.             
Cash Awards. The Administrator may grant awards that are payable solely in cash,
as deemed by the Administrator to be consistent with the purposes of the Plan, and such Cash Awards shall be subject to the terms,
conditions, restrictions and limitations determined by the Administrator, in its sole discretion, from time to time. Cash Awards
may be granted with value and payment contingent upon the achievement of performance criteria. 

 

14.             
Special Provisions Regarding Certain Awards. The Administrator may make Awards hereunder
to Covered Employees (or to individuals whom the Administrator believes may become Covered Employees) that are intended to qualify
as performance-based compensation under Section 162(m) of the Code. The exercisability and/or payment of such Awards may be subject
to the achievement of performance criteria based upon one or more Performance Goals and to certification of such achievement in
writing by the Committee. Such performance criteria shall be established in writing by the Committee not later than the time period
prescribed under Section 162(m) and the regulations thereunder. All provisions of such Awards which are intended to qualify as
performance-based compensation under Section 162(m) of the Code shall be construed in a manner to so comply.

 

    	16

    	 

    
 

		15.	Change in Control Provisions. Unless otherwise provided by the Administrator or in the applicable
Award Agreement or otherwise, and subject to Section 3(c), in the event of a Change in Control:

 

		(a)	With respect to each outstanding Award that is assumed or substituted in connection with a Change in Control, in the event
of a Qualifying Termination of a Participant’s employment or service during the 24-month period following such Change in
Control, (i) such Award shall become fully vested and exercisable, (ii) the restrictions, payment conditions, and forfeiture
conditions applicable to any such Award granted shall lapse, and (iii) any performance conditions imposed with respect to such
Award shall be deemed to be achieved at target performance levels.

 

		(b)	With respect to each outstanding Award that is not assumed or substituted in connection with a Change in Control, immediately
upon the occurrence of the Change in Control, (i) such Award shall become fully vested and exercisable, (ii) the restrictions,
payment conditions, and forfeiture conditions applicable to any such Award granted shall lapse, and (iii) any performance conditions
imposed with respect to such Award shall be deemed to be achieved at target performance levels.

 

		(c)	For purposes of this Section 15, an Award shall be considered assumed or substituted for if, following the Change in Control,
the Award is of substantially comparable value and remains subject to the same terms and conditions that were applicable to the
Award immediately prior to the Change in Control except that, if the Award related to shares of Company Stock, the Award instead
confers the right to receive common stock of the acquiring or ultimate parent entity.

 

		(d)	Notwithstanding any other provision of the Plan, in the event of a Change in Control, except as would otherwise result in adverse
tax consequences under Section 409A of the Code, the Administrator may, in its discretion, provide that each Award shall, immediately
upon the occurrence of a Change in Control, be cancelled in exchange for a payment in cash or securities in an amount equal to
(i) the excess of the consideration paid per share of Company Stock in the Change in Control over the exercise or purchase price
(if any) per share of Company Stock subject to the Award multiplied by (ii) the number of shares of Company Stock granted under
the Award.

 

16.             
Rights as a Stockholder. No individual shall have any rights as a stockholder with
respect to any shares of Company Stock covered by or relating to any Award until the date of record issuance of such shares of
Company Stock in the books of the Company or the issuance of a stock certificate with respect to such shares. Except for adjustments
provided in Section 3(c), no adjustment to any Award shall be made for dividends or other rights for which the record date occurs
prior to the date such stock certificate is issued.

 

17.             
No Employment Rights; No Right to Award. Nothing contained in the Plan or any Agreement
shall confer upon any individual any right with respect to the continuation of employment by or provision of services to the Company
or interfere in any way with the right of the Company, subject to the terms of any separate agreement to the contrary, at any time
to terminate such employment or service or to increase or decrease the compensation of such individual. No individual shall have
any claim or right to receive an Award hereunder. The Administrator’s granting of an Award to a Participant at any time shall
neither require the Administrator to grant any other Award to such Participant or other individual at any time nor preclude the
Administrator from making subsequent grants to such Participant or any other individual.

 

    	17

    	 

    

 

		18.	Securities Matters and Regulations.

 

		(a)	Notwithstanding anything herein to the contrary, the obligation of the Company to sell or deliver Company Stock with respect
to any Award granted under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable federal
and state securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate
by the Administrator. The Administrator may require, as a condition of the issuance and delivery of certificates evidencing shares
of Company Stock pursuant to the terms hereof, that the recipient of such shares make such agreements and representations, and
that such certificates bear such legends, as the Administrator, in its sole discretion, deems necessary or advisable.

 

		(b)	Each Award is subject to the requirement that, if at any time the Administrator determines that the listing, registration or
qualification of Company Stock issuable pursuant to the Plan is required by any securities exchange or under any state or federal
law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection
with, the grant of an Award or the issuance of Company Stock, no such Award shall be granted or payment made or Company Stock issued,
in whole or in part, unless listing, registration, qualification, consent or approval has been effected or obtained free of any
conditions not acceptable to the Administrator.

 

		(c)	In the event that the disposition of Company Stock acquired pursuant to the Plan is not covered by a then current registration
statement under the Securities Act and is not otherwise exempt from such registration, such Company Stock shall be restricted against
transfer to the extent required by the Securities Act or regulations thereunder, and the Administrator may require a Participant
receiving Company Stock pursuant to the Plan, as a condition precedent to receipt of such Company Stock, to represent to the Company
in writing that the Company Stock acquired by such Participant is acquired for investment only and not with a view to distribution.

 

    	18

    	 

    
 

19.             
Withholding Taxes. Whenever cash is to be paid pursuant to an Award, the Company
shall have the right to deduct therefrom an amount sufficient to satisfy any applicable withholding tax requirements related thereto.
Whenever shares of Company Stock are to be delivered pursuant to an Award, the Company shall have the right to require the Participant
to remit to the Company in cash an amount sufficient to satisfy any applicable withholding tax requirements related thereto. With
the approval of the Administrator, a Participant may satisfy the foregoing requirement by electing to have the Company withhold
from delivery shares of Company Stock having a value equal to the minimum amount of tax required to be withheld. Such shares shall
be valued at their Fair Market Value on the date of which the amount of tax to be withheld is determined. Fractional share amounts
shall be settled in cash. Such a withholding election may be made with respect to all or any portion of the shares to be delivered
pursuant to an Award. 

 

20.             
Notification of Election Under Section 83(b) of the Code. If any Participant shall,
in connection with the acquisition of shares of Company Stock under the Plan, make the election permitted under Section 83(b) of
the Code, such Participant shall notify the Company of such election within 10 days of filing notice of the election with the Internal
Revenue Service.

 

21.             
Notification Upon Disqualifying Disposition Under Section 421(b) of the Code. Each
Agreement with respect to an Incentive Stock Option shall require the Participant to notify the Company of any disposition of shares
of Company Stock issued pursuant to the exercise of such Option under the circumstances described in Section 421(b) of the Code
(relating to certain disqualifying dispositions) within 10 days of such disposition. 

 

22.             
Amendment or Termination of the Plan. The Board may, at any time, suspend or terminate
the Plan or revise or amend it in any respect whatsoever; provided, however, that stockholder approval shall be required for any
such amendment if and to the extent such approval is required in order to comply with applicable law or stock exchange listing
requirement. Nothing herein shall restrict the Administrator’s ability to exercise its discretionary authority pursuant to
Sections 3 and 4, which discretion may be exercised without amendment to the Plan. No action hereunder may, without the consent
of a Participant, reduce the Participant’s rights under any outstanding Award. 

 

23.             
Transfers Upon Death. Upon the death of a Participant, outstanding Awards granted
to such Participant may be exercised only by the executor or administrator of the Participant’s estate or by individual who
shall have acquired the right to such exercise by will or by the laws of descent and distribution. No transfer of an Award by will
or the laws of descent and distribution shall be effective to bind the Company unless the Administrator shall have been furnished
with (a) written notice thereof and with a copy of the will and/or such evidence as the Administrator may deem necessary to establish
the validity of the transfer and (b) an agreement by the transferee to comply with all the terms and conditions of the Award that
are or would have been applicable to the Participant and to be bound by the acknowledgments made by the Participant in connection
with the grant of the Award.

 

24.             
Expenses and Receipts. The expenses of the Plan shall be paid by the Company. Any
proceeds received by the Company in connection with any Award may be used for general corporate purposes. 

 

25.             
Term of Plan. Unless earlier terminated by the Board pursuant to Section 22, the
right to grant Awards under the Plan shall terminate on the tenth anniversary of the Effective Date. Awards outstanding at Plan
termination shall remain in effect according to their terms and the provisions of the Plan.

 

    	19

    	 

    
 

26.             
Participant Rights. No Participant shall have any claim to be granted any Award
under the Plan, and there is no obligation for uniformity of treatment for Participants.

 

27.             
Unfunded Status of Awards. The Plan is intended to constitute an “unfunded”
plan for incentive and deferred compensation. With respect to any payments not yet made to a Participant pursuant to an Award,
nothing contained in the Plan or any Agreement shall give any such Participant any rights that are greater than those of a general
creditor of the Company. 

 

28.             
No Fractional Shares. No fractional shares of Company Stock shall be issued or delivered
pursuant to the Plan. The Administrator shall determine whether cash, other Awards, or other property shall be issued or paid in
lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated.

 

29.             
Beneficiary. A Participant may file with the Administrator a written designation
of a beneficiary on such form as may be prescribed by the Administrator and may, from time to time, amend or revoke such designation.
If no designated beneficiary survives the Participant, the executor or administrator of the Participant’s estate shall be
deemed to be the Participant’s beneficiary. 

 

30.             
Paperless Administration. In the event that the Company establishes, for itself
or using the services of a third party, an automated system for the documentation, granting or exercise of Awards, such as a system
using an internet website or interactive voice response, then the paperless documentation, granting or exercise of Awards by a
Participant may be permitted through the use of such an automated system.

 

31.             
Severability. If any provision of the Plan is held to be invalid or unenforceable,
the other provisions of the Plan shall not be affected but shall be applied as if the invalid or unenforceable provision had not
been included in the Plan.

 

32.             
Applicable Law. Except to the extent preempted by any applicable federal law, the
Plan shall be construed and administered in accordance with the laws of the State of Delaware without reference to its principles
of conflicts of law.

 

33.             
Clawback. Notwithstanding any other
provisions in this Plan, any Award which is subject to recovery under any law, government regulation or stock exchange listing
requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation
or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or
stock exchange listing requirement).

 

34.             
Section 409A Compliance. The Plan as well as payments and benefits under the Plan
are intended to be exempt from, or to the extent subject thereto, to comply with Section 409A of the Code, and, accordingly, to
the maximum extent permitted, the Plan shall be interpreted in accordance therewith. Notwithstanding anything contained herein
to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code,
the Participant shall not be considered to have terminated employment with the Company for purposes of the Plan and no payment
shall be due to the Participant under the Plan or any Award until the Participant would be considered to have incurred a “separation
from service” from the Company within the meaning of Section 409A of the Code. Any payments described in the Plan that are
due within the “short term deferral period” as defined in Section 409A of the Code shall not be treated as deferred
compensation unless applicable law requires otherwise. Notwithstanding anything to the contrary in the Plan, to the extent that
any Awards are payable upon a separation from service and such payment would result in the imposition of any individual tax and
penalty interest charges imposed under Section 409A of the Code, the settlement and payment of such awards shall instead be made
on the first business day after the date that is six (6) months following such separation from service (or death, if earlier).
Each amount to be paid or benefit to be provided under this Plan shall be construed as a separate identified payment for purposes
of Section 409A of the Code. The Company makes no representation that any or all of the payments or benefits described in this
Plan will be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code
from applying to any such payment. The Participant shall be solely responsible for the payment of any taxes and penalties incurred
under Section 409A of the Code.

 

    	20Exhibit 10.12

 

 

FORM OF
INDEMNIFICATION AGREEMENT

 

AGREEMENT, dated as of ____________, 2013,
by and between JGWPT Holdings Inc., a Delaware corporation (the “Company”), and ______________ (the “Indemnitee”).

 

WHEREAS, it is essential to the Company to
retain and attract as directors and officers the most capable persons available;

 

WHEREAS, the Indemnitee is willing to serve
as a director and/or officer of the Company, provided the Indemnitee is adequately protected against the risk of personal liability;

 

WHEREAS, the Company and the Indemnitee recognize
the risk of litigation and other claims being asserted against directors and officers of companies in the current environment;

 

WHEREAS, certain basic protections against
undue risk of personal liability of the Company’s directors and officers will be provided through insurance coverage providing
reasonable protection at reasonable cost;

 

WHEREAS, the Company’s Amended and Restated
Certificate of Incorporation and Amended and Restated By-laws (as amended from time to time, the “Governance Documents”)
require the Company to indemnify and advance expenses to its directors and officers to the extent provided therein, and the Indemnitee
serves as a director and/or officer of the Company, in part, in reliance on such provisions in the Governance Documents;

 

WHEREAS, as a condition to service on the
Board of Directors of the Company, the Indemnitee has requested that, in addition to the protections afforded under insurance obtained
by the Company and the protections provided by the Governance Documents, the Company agree to enter into this Agreement with the
Indemnitee;

 

WHEREAS, the Company has determined that its
inability to retain and attract as directors and officers the most capable persons would be detrimental to the interests of the
Company, and that Company therefore should seek to assure such persons that indemnification and insurance coverage will be available
in the future; and

 

WHEREAS, in recognition of the Indemnitee’s
desire for protection against personal liability in order to enhance the Indemnitee’s service to the Company in an effective manner
and in part to provide the Indemnitee with specific contractual assurance that the protection promised by the Governance Documents
will be available to the Indemnitee (regardless of, among other things, any amendment to or revocation of the applicable provisions
of the Governance Documents or any change in the composition of the governing bodies of the Company or acquisition transaction
relating to the Company), the Company wishes to provide in this Agreement for the indemnification of and the advancement of expenses
to the Indemnitee to the fullest extent permitted by law (whether partial or complete) and as set forth in this Agreement, and,
to the extent insurance is maintained, for the continued coverage of the Indemnitee under the directors’ and officers’
liability insurance policy of the Company.

 

    	 

    	 

    

NOW, THEREFORE, in consideration of the premises
and of the Indemnitee’s service to the Company directly or, at its request, as a director, officer, trustee, manager, member,
partner, managing member, tax matters partner, fiduciary, liquidator, receiver, agent, representative, employee, stockholders’
representative, board observer or independent contractor, or in any other capacity with, another Person (as defined below) or any
employee benefit plan, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.             Certain Definitions. In addition to terms defined elsewhere herein, the following terms have the following meanings
when used in this Agreement:

 

(a)               
“Affiliate” means a Person that directly, or indirectly through one or more intermediaries, controls or
is controlled by, or is under common control with, the Person specified, the term “control” (including the terms “controlling,
” “controlled by” and “under common control with”) meaning the possession, direct or indirect, of the
power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities,
by contract, or otherwise.

 

(b)              
“Agreement” means this Indemnification Agreement, as amended from time to time hereafter.

 

(c)               
“Board of Directors” means the Board of Directors of the Company.

 

(d)              
“Claim” means any threatened, asserted, pending or completed civil, criminal, administrative, investigative
or other action, suit or proceeding, or appeal thereof, or any inquiry or investigation, whether instituted by the Company, any
governmental, administrative or regulatory agency, any self-regulatory organization or any other party, that the Indemnitee in
good faith believes might lead to the institution of any such action, suit or proceeding, whether civil, criminal, administrative,
investigative or other, including any arbitration or other alternative dispute resolution mechanism.

 

(e)               
“Company Status” means the Indemnitee’s (i) past, present or future status or service as a director, officer,
trustee, manager, stockholder, fiduciary, liquidator, receiver, agent, representative, employee, stockholders’ representative,
board observer or independent contractor of the Company or (ii) past, present or future service on behalf of or at the request
of the Company as a director, officer, manager, stockholder, member, partner, tax partner, fiduciary, stockholders’ representative,
board observer, trustee or similar capacity or status at another corporation, limited liability company, partnership, joint venture,
trust, employee benefit plan or other enterprise, or by reason of any action alleged to have been taken or omitted in any such
other capacity or by reason of such other status.

 

(f)               
“Fund Entities” means, with respect to any director who is designated to serve on a Board of Directors
by an investment fund or similar entity, such investment fund or similar entity and any other entity affiliated therewith.

 

(g)              
“Expenses” means all reasonable fees and disbursements (including, without limitation, attorneys’
fees, experts fees, mediators’ and arbitrators’ fees, court costs, retainers, transcript fees, duplicating, printing
and binding costs, as well as telecommunications, postage and courier charges) paid or incurred in connection with investigating,
defending, being a witness in or otherwise participating in any way in (including on appeal), or preparing to investigate, defend,
be a witness in or otherwise participate in, any Claim by reason of the Indemnitee’s Company Status.

 

    	 

    	 

    

(h)              
“Independent Counsel” means, at any time, any law firm, or a member of a law firm, that (a) is experienced
in matters of corporation law and (b) is not, at such time, or has not been in the five years prior to such time, retained to represent:
(i) the Company or the Indemnitee in any matter material to either such party or (ii) any other party to the Claim giving rise
to a request for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include
any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or the Indemnitee in an action to determine the Indemnitee’s rights under this Agreement. The Company agrees
to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against
any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

 

(i)                
“Jointly Indemnifiable Claim” means any Claim for which the Indemnitee may be entitled to indemnification
from any of the Fund Entities or the Company pursuant to applicable law, any indemnification agreement or the Governance Documents
or the certificate of incorporation, bylaws, partnership agreement, operating agreement, certificate of formation, certificate
of limited partnership or comparable organizational documents of the Company and the Fund Entities.

 

(j)                
“Loss” means (i) all Expenses; (ii) all other liabilities, including judgments, fines, penalties, interest,
amounts paid in settlement with the approval of the Company (which approval shall not be unreasonably withheld), paid or incurred
in connection with any Claim relating to the Indemnitee’s Company Status, (iii) any liability pursuant to a loan guaranty or otherwise,
for any indebtedness of the Company or any subsidiary of the Company, including, without limitation, any indebtedness which the
Company or any subsidiary of the Company has assumed or taken subject to, except to the extent the Indemnitee has expressly agreed
to be liable for such obligation through a guarantee or similar instrument, and (iv) any liabilities which the Indemnitee incurs
as a result of acting on behalf of the Company (whether as a fiduciary or otherwise) in connection with the operation, administration
or maintenance of an employee benefit plan or any related trust or funding mechanism (whether such liabilities are in the form
of excise taxes assessed by the United States Internal Revenue Service, penalties assessed by the Department of Labor, restitutions
to such a plan or trust or other funding mechanism or to a participant or beneficiary of such plan, trust or other funding mechanism,
or otherwise).

 

(k)              
“Person” means any corporation, firm, partnership, joint venture, limited liability company, estate, trust,
business association, organization, governmental entity or other entity, or any individual natural person.

    	 

    	 

    

 

2.             Basic Indemnification Arrangement: Advancement of Expenses.

 

(a)               
In the event that the Indemnitee was, is or becomes subject to, a party to or witness or other participant in, or is threatened
to be made subject to, a party to or witness or other participant in, a Claim by reason of (or arising in part out of) the Indemnitee’s
Corporate Status, the Company shall indemnify the Indemnitee, or cause the Indemnitee to be indemnified, for all Loss actually
incurred by the Indemnitee, to the fullest extent permitted, as a matter of law, under Section 145 of the General Corporation Law
of the State of Delaware (the “DGCL”), which is incorporated herein by reference, and shall be deemed to be applicable
to the Company and Indemnitee to the same extent and in the same manner as though the Company were a corporation duly formed under
Delaware law; provided, however, that no change in Section 145 of the DGCL, as incorporated by reference to this Agreement,
shall have the effect of reducing the benefits available to the Indemnitee hereunder based on Section 145 of the DGCL, as incorporated
by reference, as in effect on the date hereof or as such benefits may improve as a result of amendments after the date hereof.
The rights of the Indemnitee provided in this Section 2 shall include, without limitation, the rights set forth in the other sections
of this Agreement.

 

(b)              
If so requested by the Indemnitee, the Company shall advance, or cause to be advanced (within
ten business days of such request), any and all Expenses actually incurred by the Indemnitee (an “Expense Advance”) in
connection with any Claim relating to the Indemnitee’s Company Status. The Company shall, in accordance with such request
(but without duplication), either (i) pay, or cause to be paid, such Expenses on behalf of the Indemnitee, or (ii) reimburse, or
cause the reimbursement of, the Indemnitee for such Expenses. The Indemnitee’s right to an Expense Advance is absolute and shall
not be subject to any condition that the Board of Directors, Independent Counsel, or any other Person shall not have determined
that the Indemnitee is not entitled to be indemnified under applicable law. However, the obligation of the Company to make an Expense
Advance pursuant to this Section 2(b) shall be subject to the condition that, if, when and to the extent that there is a final
judicial determination of the applicable Claim (as to which all rights of appeal therefrom have been exhausted or lapsed) that
the Indemnitee has engaged in conduct for which the Indemnitee would not be entitled to be indemnified, as a matter of law, under
Section 145 of the DGCL were it applicable to the Company and to Indemnitee, and, if not specifically determined in connection
with the adjudication of the relevant Claim, thereafter there is a final judicial determination that the Indemnitee is not entitled
to be indemnified, the Company shall be entitled to be reimbursed by the Indemnitee (who hereby agrees to reimburse the Company)
for all such Expense Advances as to which the preceding conditions have been satisfied (it being understood and agreed that the
foregoing agreement by the Indemnitee shall be deemed to satisfy any requirement that the Indemnitee provide the Company with an
undertaking to repay any Expense Advance if it is ultimately determined that the Indemnitee would not be entitled to be indemnified,
as a matter of law, under Section 145 of the DGCL were it applicable to the Company and to Indemnitee. The Indemnitee’s undertaking
to repay such Expense Advances shall be unsecured and interest-free.

 

(c)               
Notwithstanding anything in this Agreement to the contrary, the Indemnitee shall not be entitled under this Agreement to
indemnification or advancement of Expenses incurred in pursuing any Claim initiated by the Indemnitee unless (i) the Company has
joined in or the Board of Directors of the Company has authorized or consented to the initiation of such Claim or (ii) the Claim
is one to enforce the Indemnitee’s rights under this Agreement (including an action pursued by the Indemnitee to secure a
determination that the Indemnitee should be indemnified under applicable law).

 

    	 

    	 

    

(d)              
To the extent that the Indemnitee has been successful on the merits or otherwise in defense of any or all Claims relating
in whole or in part to the Indemnitee’s Company Status, including dismissal without prejudice, the Indemnitee shall be indemnified
against all Expenses actually and reasonably incurred in connection therewith, notwithstanding any earlier determination by the
Board of Directors (or Independent Counsel, as the case may be) that the Indemnitee is not entitled to indemnification under applicable
law.

 

3.             Indemnification for Additional Expenses. The Company shall indemnify, or cause the indemnification of, the Indemnitee
against any and all Expenses and, if requested by the Indemnitee, shall advance such Expenses to the Indemnitee subject to and
in accordance with Section 2(b), which are incurred by the Indemnitee in connection with any action brought by the Indemnitee for
(i) indemnification or an Expense Advance by the Company under this Agreement or any provision of the Governance Documents and/or
(ii) recovery under any directors’ and officers’ liability insurance policies maintained by the Company, regardless
of whether the Indemnitee ultimately is determined to be entitled to such indemnification, Expense Advance or insurance recovery,
as the case may be; provided that the Indemnitee shall be required to reimburse such Expenses in the event that a final judicial
determination is made (as to which all rights of appeal therefrom have been exhausted or lapsed) that such action brought by the
Indemnitee, or the defense by the Indemnitee of an action brought by the Company or any other Person, as applicable, was frivolous
or in bad faith.

 

4.             Partial Indemnity, Etc. If the Indemnitee is entitled under any provision of this Agreement to indemnification by
the Company for some or a portion of Loss in respect of a Claim but not, however, for all of the total amount thereof, the Company
shall nevertheless indemnify the Indemnitee for the portion of Loss to which the Indemnitee is entitled.

 

5.             Procedures for Advancement and Procedures for Indemnification.

 

(a)               
The Indemnitee shall be entitled to an Expense Advance upon delivery to the Company of a notice of Claim for which indemnification
may be sought hereunder and a written request for advancement, together with invoices or other appropriate documentation of Expenses
for which an Expense Advance is requested. The Company shall make such Expense Advance without regard to whether a determination
has been requested or made pursuant to Section 5(b) hereof, provided that the Indemnitee shall repay such Expense Advance
in accordance with the terms and provisions of this Agreement.

 

(b)              
At any time following delivery of a notice of a Claim and a written request for advancement as provided in Section 5(a),
the Indemnitee may, at such time as determined by the Indemnitee in the Indemnitee’s sole discretion, request a determination of
the Indemnitee’s entitlement to indemnification. The Board of Directors of the Company or Independent Counsel shall thereupon make
a determination, in the particular instance, of the Indemnitee’s entitlement to indemnification as follows:

    	 

    	 

    

 

(i)          Determination by Board of Directors. If the
Indemnitee elects, in the Indemnitee’s sole discretion, to have the Indemnitee’s entitlement to indemnification determined by the
Board of Directors of the Company, the Board of Directors shall determine (by majority vote of directors who are not parties to
the applicable Claim) whether the indemnification of the Indemnitee for the Claim(s) or for any part of any Claim(s) is legally
permitted under Section 145 of the DGCL were it applicable to the Company and Indemnitee; provided, however, that if there
are no directors of the Company who are not parties to the applicable Claim, the Indemnitee’s entitlement to indemnification shall
be determined by Independent Counsel in accordance with Section 5(b)(ii) hereof. The Board of Directors shall make no other
determination with respect to any Claim(s) or the Indemnitee.

 

(ii)          Determination by Independent Counsel. If
the Indemnitee elects, in the Indemnitee’s sole discretion, to have the determination of the Indemnitee’s entitlement to indemnification
hereunder made by Independent Counsel, the determination shall be made by Independent Counsel. Independent Counsel shall be selected
by the Indemnitee (unless the Indemnitee shall request that such selection be made by the Board of Directors, in which event the
Board of Directors shall make such selection on behalf of the Company, subject to the remaining provisions of this Section 2(d))
and shall be reasonably acceptable to the Company and the Indemnitee, and the Indemnitee or the Company, as the case may be, shall
give written notice to the other, advising it or him of the identity of the Independent Counsel so selected. The Company or the
Indemnitee, as the case may be, may, within 10 days after such written notice of selection shall have been received, deliver to
the Indemnitee or the Company, as the case may be, a written objection to such selection; provided, however, that such objection
may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section 1 of this Agreement, and the objection shall set forth with particularity the factual basis
of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written
objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until
such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. If, within
20 days after submission by the Indemnitee of a written request for indemnification pursuant to this Section 5(d), no Independent
Counsel shall have been selected and not objected to, either the Company or the Indemnitee may petition a court of competent jurisdiction
for resolution of any objection which shall have been made by the Company or the Indemnitee to the other’s selection of Independent
Counsel and/or for the appointment as Independent Counsel of a person selected by the Court or by such other Person as the Court
shall designate, and the Person with respect to whom all objections are so resolved or the Person so appointed shall act as Independent
Counsel under Section 5(b) hereof.

 

(iii)          Challenging an Adverse Indemnification Determination.
If the Board of Directors or Independent Counsel, as the case may be, determines that the Indemnitee
is not entitled to be indemnified under the terms of this Agreement and any other applicable agreement or other authority,
the Indemnitee shall continue to be entitled to receive Expense Advances, and, pursuant to Section 2(b) hereof, the Indemnitee
shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made in the Claim
(as to which all rights of appeal therefrom have been exhausted or lapsed) that the Indemnitee is not entitled to be so indemnified
under applicable law and, if not specifically determined in connection with the adjudication of the relevant Claim, thereafter
there is a final determination that the Indemnitee is not entitled to be indemnified. The Indemnitee shall have the right to commence
an action in any court of competent jurisdiction seeking an initial determination by the court or challenging any such determination
by the Board of Directors or Independent Counsel, or any aspect thereof, including the legal or factual bases therefor, and the
Company hereby consents to service of process and to appear in any such proceeding. If the Indemnitee commences such an action,
any determination made by the Board of Directors or Independent Counsel that the Indemnitee is not entitled to be indemnified under
applicable law shall not be binding.

 

    	 

    	 

    

(iv)          Presumptions and Burden of Proof.
Except as otherwise provided herein, any determination by the Board of Directors or Independent Counsel, as the case may be, that
the Indemnitee is entitled to be indemnified under this Agreement shall be conclusive and binding upon the Company and Indemnitee.
In connection with any determination by the Board of Directors, Independent Counsel, any court or otherwise as to whether the Indemnitee
is entitled to be indemnified hereunder, the Board of Directors, Independent Counsel or court, as the case may be, shall presume
that the Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification, and the burden of proof
shall be on the Company or its representative to establish, by clear and convincing evidence, that the Indemnitee is not so entitled.

 

6.             Reliance as Safe Harbor. The Indemnitee shall be entitled to indemnification for any action or omission made (a)
in good faith reliance upon the records of the Company, including its financial statements, or upon information, opinions, reports
or statements furnished to the Indemnitee by the officers or employees of the Company or any of its subsidiaries in the course
of their duties, or by committees of the Board of Directors, or by any other Person as to matters the Indemnitee reasonably believes
are within such other Person’s professional or expert competence, or (b) on behalf of the Company in furtherance of the interests
of the Company in good faith in reliance upon, and in accordance with, the advice of legal counsel or accountants, provided such
legal counsel, accountants or other advisors, were selected with reasonable care by or on behalf of the Company and the Indemnitee
reasonably believed the matters relied upon were within such person’s professional or expert competence. In addition, the
knowledge and/or actions, or failures to act, of any director, officer, agent or employee of the Company shall not be imputed to
the Indemnitee for purposes of determining the right to indemnity hereunder.

 

7.             No Other Presumptions. For purposes of this Agreement, the termination of any claim, action, suit or proceeding,
by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere or its
equivalent, shall not create a presumption that the Indemnitee did not meet any particular standard of conduct or have any particular
belief or that a court has determined that indemnification is not permitted by applicable law. In addition, neither the failure
of the Board of Directors or Independent Counsel to have made a determination as to whether the Indemnitee has met any particular
standard of conduct or had any particular belief, nor an actual determination by the Board of Directors or Independent Counsel
that the Indemnitee has not met such standard of conduct or did not have such belief, shall be a defense to the Indemnitee’s
claim or create a presumption that the Indemnitee has not met any particular standard of conduct or did not have any particular
belief.

 

    	 

    	 

    

8.             Nonexclusivity, Etc. The rights of the Indemnitee hereunder shall be in addition to any other rights the Indemnitee
may have under the Governance Documents, the laws of the State of Delaware, or otherwise; provided, however, that the Company
hereby agrees that it shall be the primary indemnitor as provided in Section 13 of this Agreement with respect to any such advancement
or indemnification rights the Indemnitee may have under the Governance Documents. To the extent that
a change in the DGCL would permit greater indemnification by agreement or otherwise, were it applicable to the Company or Indemnitee,
than would be afforded currently under this Agreement or the Governance Documents, it is the intent of the parties hereto that
the Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change.

 

9.             Liability Insurance. To the extent the Company maintains an insurance policy or policies providing directors’
and officers’ liability insurance, the Indemnitee shall be covered by such policy or policies in accordance with its or their
terms, to the same extent and as long as any directors and officers of the Company are covered under such policy or policies, and
to the maximum extent of the coverage available for any of the Company’s other directors or officers.

 

10.           Period of Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right
of the Company against the Indemnitee, the Indemnitee’s spouse, heirs, executors or personal or legal representatives after
the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall
be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided,
however, that if any shorter period of limitations is otherwise applicable to any such cause of action such shorter period shall
govern.

 

11.           Amendments, Etc. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing
by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

12.           Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such
payment to all of the rights of recovery of the Indemnitee, who shall execute all papers reasonably required and shall do everything
that may be reasonably necessary to secure such rights, including the execution of such documents necessary to enable the Company
effectively to bring suit to enforce such rights; provided, however, that the Company shall not exercise against any Fund
Entities any rights of subrogation under this Agreement, or under any other agreement or the law relating to advancement or indemnification.

 

13.           Jointly Indemnifiable Claims. Given that certain Jointly Indemnifiable Claims may arise as a result of the relationship
between the Fund Entities and the Company and the service of the Indemnitee as a director and/or officer of the Company at the
request of the Fund Entities, the Company acknowledges and agrees that the Company is the indemnitor of first resort, that the
Company shall be fully responsible for all Expense Advances and the indemnification of all Expenses and Loss owed to the Indemnitee
in connection with any such Jointly Indemnifiable Claim, pursuant to and in accordance with the terms of this Agreement, irrespective
of any right of recovery the Indemnitee may have from the Fund Entities or any of their respective Affiliates. Under no circumstance
shall the Company be entitled to any right of contribution by the Fund Entities or any of their Affiliates and no right of recovery
the Indemnitee may have from the Fund Entities, or any of their respective Affiliates, shall reduce or otherwise alter the rights
of the Indemnitee or the obligations of the Company hereunder. In the event that any of the Fund Entities, or any of their respective
Affiliates, shall make any payment to the Indemnitee in respect of indemnification or advancement with respect to any Jointly Indemnifiable
Claim, then: (a) the Fund Entity or Affiliate making such payment shall be subrogated to the extent of such payment to all of the
rights of recovery of the Indemnitee against the Company, and the Indemnitee shall execute all papers reasonably required and shall
do all things that may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary
to enable the Fund Entities effectively to bring suit to enforce such rights; and (b) the Company shall fully indemnify and hold
harmless the Fund Entities for all such payment(s) to the Indemnitee.

 

    	 

    	 

    

14.           Third Party Beneficiary Rights. Each of the Fund Entities and its respective Affiliates shall be third-party beneficiaries
with respect to Paragraph 12 and Paragraph 13 of this Agreement and shall be entitled to enforce this Agreement against the Company
as though each such Fund Entity or Affiliate were a party to this Agreement.

 

15.           No Duplication of Payments. Subject to Paragraph 13 hereof, the Company shall not be liable under this Agreement
to make any payment in connection with any Claim made against the Indemnitee to the extent the Indemnitee has otherwise actually
received payment (under any insurance policy, any provision of the Governance Documents or otherwise) of the amounts otherwise
indemnifiable hereunder.

 

16.           Defense of Claims. The Indemnitee shall give the Company prompt notice of any Claim relating to the Indemnitee’s
Company Status (provided that the failure to give such prompt notice to the Company shall not relieve the Company of any indemnification
obligation hereunder except to the extent that the defense of such Claim is prejudiced by the failure to give such prompt notice,
and then only to such extent), and the Company shall have the right to undertake the defense of any Claim by counsel chosen by
the Company and reasonably satisfactory to the Indemnitee. If the Company undertakes the defense of any such Claim, the Indemnitee
may, at the cost and expense of the Company, retain separate co-counsel to defend Indemnitee, and shall, to the best of its ability,
assist the Company, at the expense of the Company, in the defense of such Claim, and shall promptly send to the Company, at the
expense of the Company, copies of any documents received by the Indemnitee that relate to such Claim. If the Company, within a
reasonable time after receipt of notice of any such Claim, fails to defend the Indemnitee against which such Claim has been asserted,
the Indemnitee shall (upon further notice to the Company) have the right to undertake the defense, compromise or settlement of
such Claim on behalf of the Company. Notwithstanding the foregoing, (a) if there is a reasonable probability that a Claim
may materially and adversely affect the Indemnitee in a manner other than the payment of monetary liabilities, the Indemnitee shall
have the right to defend such Claim and to compromise or settle such Claim (in such event, the Company may retain separate co-counsel
and participate in the defense of such Claim); (b) the Company shall not be liable to the Indemnitee under this Agreement
for any amounts paid in settlement of any claim effected by the Indemnitee without the Company’s prior consent, which consent shall
not be unreasonably withheld, conditioned, or delayed; and (c) the Company shall not, without the written consent of the Indemnitee,
settle or compromise any Claim or consent to the entry of any judgment that does not include as an unconditional term thereof the
giving by the claimant or the plaintiff to the Indemnitee a release from all liability and adverse actions with respect to such
Claim.

 

    	 

    	 

    

17.           Binding Effect. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors, (including any direct or indirect successor by purchase, merger, consolidation or otherwise
to all or substantially all of the business and/or assets of the Company), assigns, spouses, heirs, executors and personal and
legal representatives. The Company shall require and cause any successor (s) (whether direct or indirect, whether in one or a series
of transactions, and whether by purchase, merger, consolidation, or otherwise) to all or substantially all of the business and/or
assets of the Company and/or its subsidiaries (on a consolidated basis), by written agreement in form and substance satisfactory
to the Indemnitee and his or her counsel, expressly to assume and agree to perform this Agreement in the same manner and to the
same extent that the Company would be required to perform if no such succession had taken place; provided that no such assumption
shall relieve the Company from its obligations hereunder and any obligations shall thereafter be joint and several. This Agreement
shall continue in effect regardless of whether the Indemnitee continues to serve as a director or officer of the Company and/or
on behalf of or at the request of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include
a trustee, fiduciary, partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint
venture, trust, employee benefit plan or other enterprise.

 

18.           Security. Subject to the terms of any credit agreement, loan agreement, indenture or similar instrument to which
the Company from time to time be a party, to the extent requested by the Indemnitee, the Company shall at any time and from time
to time provide security to the Indemnitee for the obligations of the Company hereunder through an irrevocable bank line of credit,
funded trust or other collateral or by other means. Any such security, once provided to the Indemnitee, may not be revoked or released
without the prior written consent of such Indemnitee.

 

19.           Severability. If any provision or provisions of this Agreement shall be held by a court of competent jurisdiction
to be invalid or unenforceable for any reason whatsoever, (a) the validity and enforceability of the remaining provisions of this
Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to
be invalid or unenforceable, that are not themselves invalid or unenforceable) shall not in any way be affected or impaired thereby
and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraph
of this Agreement containing any such provision held to be invalid or unenforceable) shall be construed so as to give effect to
the intent manifested by the provision held invalid or unenforceable and to give effect to the terms of this Agreement.

 

20.           Specific Performance, Etc. The parties recognize that if any provision of this Agreement is violated by the parties
hereto, the Indemnitee may be without an adequate remedy at law. Accordingly, in the event of any such violation, the Indemnitee
shall be entitled, if the Indemnitee so elects, to institute proceedings, either in law or at equity, to obtain damages, to enforce
specific performance, to enjoin such violation, or to obtain any relief or any combination of the foregoing as the Indemnitee may
elect to pursue.

 

    	 

    	 

    

21.           Notices. All notices, requests, consents and other communications hereunder to any party shall be deemed to be sufficient
if contained in a written document delivered in person or sent by telecopy, nationally recognized overnight courier or personal
delivery, addressed to such party at the address set forth below or such other address as may hereafter be designated on the signature
pages of this Agreement or in writing by such party to the other parties:

 

(a)           If to the Company, to:

 

JGWPT Holdings Inc. 

201 King of Prussia Road 

Radnor, Pennsylvania 19087 

Fax: (484) 434-2371 

Attention: David Miller, Chief Executive Officer 

Email: dmiller@jgwentworth.com

 

with copies (which shall not constitute notice) to:

 

Skadden, Arps, Slate, Meagher & Flom LLP 

920 North King Street 

Wilmington, Delaware 19801 

Attention: Steven J. Daniels, Esq. 

Fax: (302) 651-3001 

Email: steven.daniels@skadden.com

 

and

 

Reed Smith LLP 

1650 Market Street 

Philadelphia, Pennsylvania 19103 

Attention: Lori L. Lasher, Esq. 

Fax: (215) 851-1420 

Email: llasher@reedsmith.com

 

(b)           If to the Indemnitee, to the address set forth on Annex A hereto.

 

All such notices, requests, consents and other communications
shall be deemed to have been given or made if and when received (including by overnight courier) by the parties at the above addresses
or sent by electronic transmission, with confirmation received, to the telecopy numbers specified above (or at such other address
or telecopy number for a party as shall be specified by like notice). Any notice delivered by any party hereto to any other party
hereto shall also be delivered to each other party hereto simultaneously with delivery to the first party receiving such notice.

 

    	 

    	 

    

22.           Counterparts. This Agreement may be executed in counterparts, each of which shall for all purposes be deemed to be
an original but all of which together shall constitute one and the same agreement. Only one such counterpart signed by the party
against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

23.           Headings. The headings of the sections and paragraphs of this Agreement are inserted for convenience only and shall
not be deemed to constitute part of this Agreement or to affect the construction or interpretation thereof.

 

24.           Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the
State of Delaware applicable to contracts made and to be performed in such state without giving effect to the principles of conflicts
of laws.

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first above written. 

 

	 	JGWPT HOLDINGS, LLC
	 	 	 
	 	By:	 
	 	 	Name: David Miller
	 	 	Title: Chief Executive Officer
	 	 	 
	 	 	 
	 	 	 
	 	 
	 	[______________]
	 	 	 

 

 

 

    	 

    	 

    

 

 

ANNEX A

 

Name and Business Address:

 

[__________] 

[__________]

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