Document:

Form of Administration Agreement.

 Exhibit 10.5 

 
  

 
 ADMINISTRATION AGREEMENT 

 among 

BANK OF AMERICA AUTO TRUST 20[    ]-[    ], 

as Issuer 

BANK OF AMERICA, NATIONAL ASSOCIATION, 

as Administrator 

and 

[                      
  ], 
 as Indenture Trustee 

Dated as of [            ] 

 
  

 

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page
			
	1.	  	Duties of the Administrator	  	1
			
	2.	  	Records	  	4
			
	3.	  	Compensation; Payment of Fees and Expenses; Indemnification	  	4
			
	4.	  	Independence of the Administrator	  	5
			
	5.	  	No Joint Venture	  	5
			
	6.	  	Other Activities of the Administrator	  	5
			
	7.	  	Representations and Warranties of the Administrator	  	5
			
	8.	  	Administrator Replacement Events; Termination of the Administrator	  	6
			
	9.	  	Action upon Termination or Removal	  	7
			
	10.	  	Liens	  	8
			
	11.	  	Notices	  	8
			
	12.	  	[RESERVED.]	  	8
			
	13.	  	Amendments	  	8
			
	14.	  	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	  	9
			
	15.	  	Headings	  	10
			
	16.	  	Counterparts	  	10
			
	17.	  	Severability of Provisions	  	10
			
	18.	  	Not Applicable to BANA in Other Capacities; Merger of Administrator	  	10
			
	19.	  	Benefits of the Administration Agreement	  	10
			
	20.	  	Assignment	  	11
			
	21.	  	Nonpetition Covenant	  	11
			
	22.	  	Limitation of Liability	  	11

  

					
		  	i	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 THIS ADMINISTRATION AGREEMENT (as amended, modified or supplemented from time to
time, this “Agreement”) dated as of [            ], is among BANK OF AMERICA AUTO TRUST 20[    ]-[    ], a Delaware statutory
trust (the “Issuer”), BANK OF AMERICA, NATIONAL ASSOCIATION, a national banking association, as administrator (“BANA” or in its capacity as administrator, the “Administrator”), and
[            ], a [            ], as indenture trustee (the “Indenture Trustee”). Capitalized terms used
herein and not otherwise defined herein shall have the meanings assigned such terms in Appendix A to the Sale Agreement dated as of January 28, 2010 (as amended, modified or supplemented from time to time, the “Sale
Agreement”) by and between Bank of America Auto Receivables Securitization, LLC, as seller, and the Issuer. 
 W I T N E
S S E T H : 
 WHEREAS, the Issuer has issued the Notes pursuant to the Indenture and the Certificate pursuant to the Trust
Agreement and has entered into certain agreements in connection therewith, including, (i) the Sale Agreement, (ii) the Indenture, (iii) the Note Depository Agreement[, (iv) the Interest Rate Swap Agreement] and (v) the Trust
Agreement (the agreements referred to in clauses (i) through (v), together with any other Transaction Documents to which the Issuer is a party, are referred to herein collectively as the “Issuer Documents”);

 WHEREAS, to secure payment of the Notes [and payments owed by the Issuer to the Swap Counterparty], the Issuer has pledged
the Collateral to the Indenture Trustee pursuant to the Indenture; 
 WHEREAS, pursuant to the Issuer Documents, the Issuer and
the Owner Trustee are required to perform certain duties; 
 WHEREAS, the Issuer and the Owner Trustee desire to have the
Administrator perform certain of the duties of the Issuer and the Owner Trustee (in its capacity as owner trustee under the Trust Agreement), and to provide such additional services consistent with this Agreement and the Issuer Documents as the
Issuer may from time to time request; 
 WHEREAS, the Administrator has the capacity to provide the services required hereby and
is willing to perform such services for the Issuer and the Owner Trustee on the terms set forth herein; 
 NOW, THEREFORE, in
consideration of the mutual terms and covenants contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 

1.        Duties of the Administrator. 

(a)        Duties with Respect to the Issuer Documents. The Administrator
shall perform all of its duties specifically enumerated herein as Administrator under this Agreement and the Issuer Documents and the duties and obligations of the Issuer and the Owner Trustee (in its capacity as owner trustee under the Trust
Agreement) under the Issuer Documents and no additional duties shall be read to be included herein; provided, however, except as otherwise provided in the Issuer Documents, that the Administrator

  

					
		  		  	 Administration Agreement

(BAAT 20[ ]-[ ])

 
shall have no obligation to make any payment required to be made by the Issuer under any Issuer Document; provided, further, however, that the Administrator shall have no
obligation and the Owner Trustee shall be required to fully perform its duties, with respect to the obligations of the Owner Trustee under [Sections 11.9, 11.13, 11.14 and 11.15] of the Trust Agreement and to otherwise
comply with the requirements of the Owner Trustee pursuant to or related to Regulation AB . The Administrator shall monitor the performance of the Issuer and the Owner Trustee and shall advise the Issuer and the Owner Trustee in writing when action
is necessary to comply with the Issuer’s and the Owner Trustee’s duties and obligations under the Issuer Documents. The Administrator shall perform such calculations, and shall prepare for execution by the Issuer or the Owner Trustee or
shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer or the Owner Trustee (in its capacity as owner trustee under the Trust
Agreement) to prepare, file or deliver pursuant to the Issuer Documents. In furtherance of the foregoing, the Administrator shall take all appropriate action that is the duty of the Issuer or the Owner Trustee (in its capacity as owner trustee under
the Trust Agreement) to take pursuant to the Issuer Documents, including, without limitation, such of the foregoing as are required with respect to the following matters under the Indenture, the First Purchase Agreement, the Second Purchase
Agreement, the Third Purchase Agreement, the Sale Agreement, the Trust Agreement and the Servicing Agreement: 

(i) (x) the appointment of a successor Note Registrar and (y) giving the Indenture Trustee notice of any
appointment of a new Note Registrar and the location, or change in location, of the Note Registrar (Section 2.4 of the Indenture); 

(ii) the delivery for cancellation of any Note delivered to the Issuer for cancellation, and the direction to destroy or
return such Note (Section 2.8 of the Indenture); 
 (iii) the preparation of Definitive Notes in
accordance with the instructions of the Clearing Agency (Section 2.12 of the Indenture); 
 (iv) the
preparation of an Issuer Order directing the Paying Agent to deposit with the Indenture Trustee all sums held in trust by such Paying Agent (Sections 3.3 and 4.3 of the Indenture); 

(v) upon actual knowledge, the preparation of an Issuer Request directing the Indenture Trustee to provide notification
of any unclaimed monies and repayments with respect to the Notes (Section 3.3 of the Indenture); 
 (vi)
upon its actual knowledge, the delivery of written notice to the Indenture Trustee and the Rating Agencies of each Event of Default under the Indenture (Section 3.12 of the Indenture), Servicer Termination Event under the Servicing Agreement
(Section 6.1 of the Servicing Agreement); 
  

					
		  	2	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 (vii) upon its actual knowledge of such, the delivery to the Indenture
Trustee of written notice in the form of an Officer’s Certificate of any event that with the giving of notice and the lapse of time would become an Event of Default under clause (c) or (d) of Section 5.1 of
the Indenture (Section 3.12 of the Indenture); 
 (viii) the preparation and delivery of notice to
Noteholders of the removal of the Indenture Trustee and the appointment of a successor Indenture Trustee (Section 6.8 of the Indenture); 

(ix) upon request, the notification to the Indenture Trustee if and when the Notes are listed on any stock exchange
(Section 7.3 of the Indenture); 
 (x) the delivery of new Notes conforming to any supplemental
indenture (Section 9.5 of the Indenture); 
 (xi) the duty to cause the Issuer to provide notice of
redemption of the Trust Estate pursuant to Section 10.1 of the Indenture to the Certificateholders (Section 10.1 of the Indenture); 

(xii) the duty to cause the Indenture Trustee to provide notification to Noteholders of redemption of the Notes
(Section 10.2 of the Indenture); 
 (xiii) notification to the Certificateholders of the substance of
any amendment to the Sale Agreement, the Servicing Agreement or the Indenture (Section 4.1 of the Sale Agreement, Section 7.1 of the Servicing Agreement and Section 9.1 of the Indenture); 

(xiv) the maintenance of the books and records of the Issuer, the delivery to each Certificateholder of information
required to enable such Certificateholder to prepare certain tax returns, upon request the preparation and filing of the Issuer’s tax returns, the execution of the Issuer’s tax returns and the collection of any withholding tax relating to
distributions to any Certificateholder (Section 5.4 of the Trust Agreement); 
 (xv) the preparation and
delivery of notice to the Certificateholders of any termination of, or appointment of a successor to, the Servicer (Section 6.3 of the Servicing Agreement); and 

(xvi) the maintenance, at its office referred to in Section 2.2 of the Trust Agreement or such other office
as approved in writing by the Certificateholders, of a register for the registration and transfer of any Certificate (Section 3.4 of the Trust Agreement). 

(b)        No Action by Administrator. Notwithstanding anything to the
contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take nor which would result in a violation

  

					
		  	3	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 
or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents. 

(c)        Non-Ministerial Matters; Exceptions to Administrator Duties.

 (i) Notwithstanding anything to the contrary in this Agreement, with respect to matters that in the
reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any action unless, within a reasonable time before the taking of such action, the Administrator shall have notified the Issuer of the proposed action and
the Issuer shall not have withheld consent or provided an alternative direction. For the purpose of the preceding sentence, “non-ministerial matters” shall include, without limitation: 

(A)        the initiation of any claim or lawsuit by the Issuer and the
compromise of any action, claim or lawsuit brought by or against the Issuer; 

(B)        the appointment of successor Note Registrars, successor Paying
Agents, successor Indenture Trustees, successor Administrators, successor Servicers, or the consent to the assignment by the Note Registrar, the Paying Agent, the Securities Administrator or the Indenture Trustee of its obligations under the
Indenture; and 
 (C)        the removal of the Indenture Trustee or
the Securities Administrator. 
 (ii) Notwithstanding anything to the contrary in this Agreement, the
Administrator shall not be obligated to, and shall not, (x) make any payments to the Noteholders under the Transaction Documents, (y) except as provided in the Transaction Documents, sell the Trust Estate or (z) take any other action
that the Issuer directs the Administrator not to take on its behalf. 

2.        Records. The Administrator shall maintain appropriate books of account and
records relating to services performed hereunder, which books of account and records shall be accessible for inspection upon reasonable written request by the Issuer, the Depositor and the Indenture Trustee at any time during normal business hours.

 3.        Compensation; Payment of Fees and Expenses; Indemnification. As
compensation for the performance of the Administrator’s obligations under this Agreement and as reimbursement for its expenses related thereto, including, but not limited to, costs incurred in connection with the engagement of third parties to
perform any tax preparation duties hereunder, the Issuer shall cause the Servicer to pay to the Administrator such reasonable amounts agreed between the Servicer and the Administrator, which shall be solely an obligation of the Servicer. The
Administrator and any director, officer, employee or agent of the Administrator shall be entitled to indemnification by the Servicer and held harmless against any loss, liability or expense (including reasonable attorney’s fees) incurred in
connection with (i) any claim or legal action relating to this Agreement or (ii) the performance of any of the Administrator’s duties under this Agreement, unless the loss, liability or expense was incurred by reason of its own

  

					
		  	4	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 
grossly negligent actions, its own grossly negligent failure to act or its own willful misconduct in the performance of any of the Administrator’s duties under this Agreement. 

4.        Independence of the Administrator. For all purposes of this Agreement, the
Administrator shall be an independent contractor and shall not be subject to the supervision of the Issuer with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by the Issuer,
the Administrator shall have no authority to act for or to represent the Issuer in any way (other than as permitted hereunder) and shall not otherwise be deemed an agent of the Issuer. 

5.        No Joint Venture. Nothing contained in this Agreement (i) shall constitute
the Administrator and the Issuer as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall
be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the other. 

6.        Other Activities of the Administrator. Nothing herein shall prevent the
Administrator or its Affiliates from engaging in other businesses or, in its sole discretion, from acting in a similar capacity as an Administrator for any other Person even though such Person may engage in business activities similar to those of
the Issuer, the Owner Trustee or the Indenture Trustee. 
 7.        Representations
and Warranties of the Administrator. The Administrator represents and warrants to the Issuer and the Indenture Trustee as follows: 

(a)        Existence and Power. The Administrator is a national banking
association validly existing and in good standing under the laws of the United States and has, in all material respects, all power and authority to carry on its business as now conducted. The Administrator has obtained all necessary licenses and
approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the
Receivables or any other part of the Collateral. 

(b)        Authorization and No Contravention. The execution,
delivery and performance by the Administrator of the Transaction Documents to which it is a party (i) have been duly authorized by all necessary action on the part of the Administrator and (ii) do not contravene or constitute a default
under (A) any applicable law, rule or regulation, (B) its organizational documents or (C) any material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations which do
not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Administrator’s ability to perform its
obligations under, the Transaction Documents). 
 (c)        No
Consent Required. No approval or authorization by, or filing with, any Governmental Authority is required in connection with the execution, delivery and performance by the Administrator of any Transaction Document other than (i) UCC

  

					
		  	5	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 
filings, (ii) approvals and authorizations that have previously been obtained and filings that have previously been made and (iii) approvals, authorizations or filings which, if not
obtained or made, would not have a material adverse effect on the enforceability or collectibility of the Receivables or any other part of the Collateral or would not materially and adversely affect the ability of the Administrator to perform its
obligations under the Transaction Documents. 
 (d)        Binding
Effect. Each Transaction Document to which the Administrator is a party constitutes the legal, valid and binding obligation of the Administrator enforceable against the Administrator in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of
national banking associations from time to time in effect or by general principles of equity. 

8.        Administrator Replacement Events; Termination of the Administrator. 

(a)        Subject to clauses (d) and (e) below, the
Administrator may resign its duties hereunder by providing the Issuer with at least sixty (60) days’ prior written notice. 

(b)        Subject to clauses (d) and (e) below, the
Issuer may remove the Administrator without cause by providing the Administrator with at least sixty (60) days’ prior written notice; provided, that, for so long as any Notes are Outstanding, the Rating Agency Condition shall have
been satisfied in connection therewith. 
 (c)        The occurrence of
any one of the following events (each, an “Administrator Replacement Event”) shall also entitle the Issuer, subject to Section 20 hereof, to terminate and replace the Administrator: 

(i) any failure by the Administrator to deliver or cause to be delivered any required payment to the Securities
Administrator for distribution to the Noteholders, which failure continues unremedied for a period of ten (10) Business Days after discovery thereof by a Responsible Officer of the Administrator or receipt by the Administrator of written notice
thereof from the Securities Administrator or Noteholders evidencing at least a majority of the Outstanding Note Balance; 

(ii) any failure by the Administrator to duly observe or perform in any material respect any other of its covenants or
agreements in this Agreement, which failure materially and adversely affects the rights of the Issuer or the Noteholders, and which continues unremedied for ninety (90) days after discovery thereof by a Responsible Officer of the Administrator
or receipt by the Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding Note Balance; 

(iii) any representation or warranty of the Administrator made in any Transaction Document to which the Administrator is
a party or by which it is bound or any certificate delivered pursuant to this Agreement proves to have been 
  

					
		  	6	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 
incorrect in any material respect when made, which failure materially and adversely affects the rights of the Issuer or the Noteholders, and which failure continues unremedied for ninety
(90) days after discovery thereof by a Responsible Officer of the Administrator or receipt by the Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding Note Balance;
or 
 (iv) the Administrator suffers a Bankruptcy Event; 

provided, however, that if a delay in or failure of performance referred to under clauses (i), (ii) or
(iii) above was caused by force majeure or other similar occurrence the grace period in the applicable clause will be extended for an additional thirty (30) days. The existence or occurrence of any “material instance of
noncompliance” (within the meaning of Item 1122 of Regulation AB) shall not create any presumption that any event in clauses (i), (ii) or (iii) above has occurred. 

(d)        If an Administrator Replacement Event shall have occurred, the Issuer
may, subject to Section 20 hereof, by notice given to the Administrator and the Owner Trustee, terminate all or a portion of the rights and powers of the Administrator under this Agreement, including the rights of the Administrator to
receive the annual fee for services hereunder for all periods following such termination; provided, however, that such termination shall not become effective until such time as the Issuer, subject to Section 20 hereof,
shall have appointed a successor Administrator with the consent of the Indenture Trustee in the manner set forth below. Upon any such termination, all rights, powers, duties and responsibilities of the Administrator under this Agreement shall vest
in and be assumed by any successor Administrator appointed by the Issuer, subject to Section 20 hereof, pursuant to a management agreement between the Issuer and such successor Administrator, containing substantially the same provisions
as this Agreement (including with respect to the compensation of such successor Administrator), and the successor Administrator is hereby irrevocably authorized and empowered to execute and deliver, on behalf of the Administrator, as
attorney-in-fact or otherwise, all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect such vesting and assumption. Further, in such event, the Administrator shall use its commercially
reasonable efforts to effect the orderly and efficient transfer of the administration of the Issuer to the new Administrator. 

(e)        The Issuer, subject to Section 20 hereof, may waive in
writing any Administrator Replacement Event by the Administrator in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past Administrator Replacement Event, such Administrator Replacement Event shall cease
to exist, and any Administrator Replacement Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other Administrator Replacement Event or impair any right
consequent thereon. 
 9.        Action upon Termination or Removal. Promptly
upon the effective date of termination of this Agreement pursuant to Section 8, or the removal of the Administrator 

 

					
		  	7	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 
pursuant to Section 8, the Administrator shall be entitled to be paid by the Servicer all fees and reimbursable expenses accruing to it to the date of such termination or removal. If
the Administrator is removed without cause, the Servicer will be responsible for any costs, expenses or indemnities incurred by the Administrator in connection with its removal. 

10.        Liens. The Administrator will not directly or indirectly create, allow or
suffer to exist any Lien on the Collateral other than Permitted Liens. 

11.        Notices. All demands, notices and communications hereunder shall be in writing
and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by facsimile, and addressed in each case as specified on Schedule I to the Sale Agreement
or at such other address as shall be designated by any of the specified addressees in a written notice to the other parties hereto. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient
entitled to receive such notices located at the address of such recipient for notices hereunder. 

12.        [RESERVED.] 

13.        Amendments. 

(a)        Any term or provision of this Agreement may be amended by the
Administrator with prior written notice to each Rating Agency but without the consent of the Indenture Trustee, the Securities Administrator, any Noteholder, the Issuer, the Owner Trustee, the Depositor, the First Tier Purchaser, the Second Tier
Purchaser or any other Person subject to subsection (d) of this Section 13; provided that (i) such amendment shall not, as evidenced by an Officer’s Certificate of the Depositor or an Opinion of Counsel
delivered to the Indenture Trustee, the Securities Administrator and the Owner Trustee materially and adversely affect the interests of the Noteholders or (ii) the Rating Agency Condition shall have been satisfied with respect to such
amendment; provided further, that in the case of any amendment pursuant to this Section 13(a), such amendment shall not, as evidenced by an Opinion of Counsel, (i) affect the treatment of the Notes as indebtedness for federal
income tax purposes, (ii) be deemed to cause, for federal income tax purposes, a taxable exchange of the Notes or (iii) cause the Issuer (or any part thereof) to be treated as an association or publicly traded partnership taxable as a
corporation for federal income tax purposes. 
 (b)        Subject to
subsection (d) of this Section 13, this Agreement may also be amended from time to time by the Issuer, the Administrator and the Indenture Trustee, with the consent of the Holders of Notes evidencing not less than a majority
of the Outstanding Note Balance of the Controlling Class, voting as a single class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights
of the Noteholders. It will not be necessary for the consent of Noteholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such
consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders will be subject to such reasonable 

 

					
		  	8	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 
requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 

(c)        Prior to the execution of any such amendment, the Administrator shall
provide written notification of the substance of such amendment to each Rating Agency and the Owner Trustee; and promptly after the execution of any such amendment or consent, the Administrator shall furnish a copy of such amendment or consent to
each Rating Agency, the Owner Trustee and the Indenture Trustee. 

(d)        Prior to the execution of any amendment to this Agreement, the Issuer,
the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to
the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which adversely affects the Owner Trustee’s or the Indenture
Trustee’s, as applicable, own rights, duties or immunities under this Agreement. Furthermore, notwithstanding anything to the contrary herein, this Agreement may not be amended in any way that would materially and adversely affect the Owner
Trustee’s, [the Swap Counterparty’s] or the Indenture Trustee’s rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents or otherwise without the prior written consent of such party.

 14.        Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

 (a)        THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW BUT EXCLUDING TO THE MAXIMUM EXTENT PERMITTED BY LAW ALL OTHER CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

(b)        Each of the parties hereto hereby irrevocably and unconditionally:

 (i) submits for itself and its property in any legal action or Proceeding relating to this Agreement or any
documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the courts of the United States of
America for the Southern District of New York and appellate courts from any thereof; 
 (ii) consents that any
such action or Proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such action or Proceeding in any such court or that such action or Proceeding was brought in an inconvenient court and
agrees not to plead or claim the same; 
  

					
		  	9	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 (iii) agrees that service of process in any such action or Proceeding may
be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 11 of this Agreement; 

(iv) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law
or shall limit the right to sue in any other jurisdiction; and 
 (v) to the extent permitted by
applicable law, each party hereto irrevocably waives all right of trial by jury in any action, Proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising
hereunder or thereunder. 
 15.        Headings. The section headings hereof
have been inserted for convenience of reference only and shall not be construed to affect the meaning, construction or effect of this Agreement. 

16.        Counterparts. This Agreement may be executed in any number of counterparts,
each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. 

17.        Severability of Provisions. If any one or more of the covenants, agreements,
provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the other provisions of this Agreement. 

18.        Not Applicable to BANA in Other Capacities; Merger of Administrator.

 (a)        Nothing in this Agreement shall affect any obligation BANA
may have in any other capacity. 
 (b)        Any entity into which the
Administrator may be merged or converted or with which it may be consolidated, to which it may sell or transfer its corporate trust business and assets as a whole or substantially as a whole or any entity resulting from any merger, sale, transfer,
conversion or consolidation to which the Administrator shall be a party, or any entity succeeding to the business of the Administrator, shall be the successor of the Administrator hereunder without the execution or filing of any paper of any further
act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. 

19.        Benefits of the Administration Agreement. Nothing in this Agreement, expressed
or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture[, the Swap Counterparty] and the
Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, the Owner Trustee is a 

 

					
		  	10	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 
third party beneficiary of this Agreement and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto. 

20.        Assignment. Each party hereto hereby acknowledges and consents to the mortgage,
pledge, assignment and Grant of a security interest by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders of all of the Issuer’s rights under this Agreement. In addition, the Administrator hereby
acknowledges and agrees that for so long as any Notes are outstanding, the Indenture Trustee will have the right to exercise all waivers and consents, rights, remedies, powers, privileges and claims of the Issuer under this Agreement pursuant to the
Grant of such security interest. 
 21.        Nonpetition Covenant. Each party
hereto agrees that, prior to the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party shall not authorize
any Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency
or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial
part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for
the benefit of, its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) none of the parties hereto shall commence or join with any other Person in commencing any Proceeding against such
Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. 

22.        Limitation of Liability. Notwithstanding anything contained herein to the
contrary, this Agreement has been executed and delivered by [            ], not in its individual capacity but solely as Owner Trustee, and in no event shall it have any liability for the
representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or under the Notes or any of the other Transaction Documents or in any of the certificates, notices or agreements delivered pursuant thereto, as to all
of which recourse shall be had solely to the assets of the Issuer. Under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expense of the Issuer or be liable for the breach or failure of any
obligations, representation, warranty or covenant made or undertaken by the Issuer under the Transaction Documents. For the purposes of this Agreement, in the performance of its duties or obligations hereunder, the Owner Trustee shall be subject to,
and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement. 

23.        [Limitation of Rights. All of the rights of the Swap Counterparty in, to and
under this Agreement (including, but not limited to, all of the Swap Counterparty’s rights as a third party beneficiary of this Agreement and all of the Swap Counterparty’s rights to receive notice of any action hereunder and to give or
withhold consent to any action hereunder) shall terminate upon the termination of the Interest Rate Swap Agreement in accordance with the terms thereof 

 

					
		  	11	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 
and the payment in full of all amounts owing to the Swap counterparty under such Interest Rate Swap Agreement.] 

[SIGNATURES ON NEXT PAGE] 
  

 
  
  

 
  

					
		  	12	  	 Administration Agreement

(BAAT 20[ ]-[ ])

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered
as of the day and year first above written. 
  

			
	BANK OF AMERICA AUTO TRUST 20[    ]-[    ]
	
	By: [                    ], not in its individual capacity but solely
as Owner Trustee
		
	By:	 	 
	Name:
	Title:

  

 
  
  

 

					
		  	S-1	  	 Administration Agreement

(BAAT 20[ ]-[ ])

			
	BANK OF AMERICA, NATIONAL ASSOCIATION, as Administrator
		
	By:	 	 
	Name:
	Title:

  

 
  
  

 
  

					
		  	S-2	  	 Administration Agreement

(BAAT 20[ ]-[ ])

			
	[                    ], not in its individual capacity
but solely as Indenture Trustee
		
	By:	 	 
	Name:
	Title:

  

 
  
  

 
  

					
		  	S-3	  	 Administration Agreement

(BAAT 20[ ]-[ ])Tupperware Brands 2010 Incentive Plan

 Exhibit 10.1 

TUPPERWARE BRANDS CORPORATION 

2010 INCENTIVE PLAN 

ARTICLE 1. Establishment, Purpose, and Duration 

1.1. Establishment of the Plan. Tupperware Brands Corporation, a Delaware corporation (hereinafter referred to as the
“Company”), hereby establishes an incentive compensation plan to be known as the “Tupperware Brands Corporation 2010 Incentive Plan” (hereinafter referred to as the “Plan”), as set forth in this document. The Plan
permits the grant of Non-Qualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Awards and other stock-based and non-stock-based awards. The Plan shall become effective as
of the Effective Date, and shall remain in effect as provided in Section 1.3 herein. 
 1.2. Purpose of the
Plan. The purpose of the Plan is to promote the success and enhance the value of the Company by linking the personal interests of Participants to those of the Company’s stockholders and by providing Participants with an incentive for
outstanding performance of the Company’s objectives and strategies while undertaking an appropriate level of risk. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services
of Participants upon whose judgment, interest, and special efforts the successful conduct of its operations largely is dependent. 

1.3. Duration of the Plan. The Plan shall commence on the Effective Date and shall remain in effect for ten (10) years
thereafter, subject to the right of the Board of Directors to terminate, amend or modify the Plan at any time pursuant to Article 16 herein, except that any awards issued and outstanding under the Plan shall remain effective beyond the expiration of
the Plan in accordance with their terms. 
 ARTICLE 2. Definitions 

Whenever used in the Plan, the following terms shall have the meanings set forth below and, when the meaning is intended, the initial letter of the word
is capitalized: 
 (a) “Award” means, individually or collectively, a grant under this Plan of Non-Qualified
Stock Options, Incentive Stock Options, SARs, Restricted Stock, Restricted Stock Units, Performance Awards or other awards. 

(b) “Award Agreement” means an agreement entered into by each Participant and the Company, setting forth the terms and
provisions applicable to Awards granted to Participants under this Plan, including without limitation, stock option agreements, SAR agreements and restricted stock and restricted stock unit agreements. 

(c) “Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 of the General Rules and Regulations
under the Exchange Act. 
 (d) “Beneficiary” means a person who may be designated by a Participant pursuant to
Article 12 and to whom any benefit under the Plan is to be paid in case of the Participant’s death or physical or mental incapacity, as determined by the Committee, before he or she receives any or all of such benefit. 

(e) “Board” or “Board of Directors” means the Board of Directors of the Company. 

(f) “Cause” means (i) “Cause” as defined in any employment, consulting or similar agreement between the
Participant and the Company or one of its Subsidiaries or affiliates (an “Individual Agreement”), or (ii) if there is no such Individual Agreement or if it does not define Cause, (A) conviction of a Participant for committing a
felony under federal law or the laws of the jurisdiction in which such action occurred, (B) dishonesty in the course of fulfilling a Participant’s employment duties, (C) willful and deliberate failure on the part of a Participant to
perform his employment duties in any material respect, including compliance with the Company’s Code of Conduct or Codes of Ethics for Financial Executives, or (D) before a Change of Control, such other events as shall be determined by the
Committee. Before a Change of Control, the Committee shall, unless otherwise provided in an Individual Agreement, have the sole discretion to determine whether “Cause” exists with respect to subclauses (A), (B) and (C) above, and
its determination shall be final. 
 (g) “Change of Control” of the Company means: 

i. An acquisition by any Person of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of 20 percent or more of either (1) the then outstanding Shares (the “Outstanding Company Common Stock”) or (2) the combined voting power of the then outstanding voting securities of the Company entitled to vote
generally in the election of Directors (the “Outstanding Company Voting Securities”); excluding, however, the following: (1) any acquisition directly from the Company, other than an acquisition by virtue of the exercise of a
conversion privilege unless the security being so converted was itself acquired from the Company, (2) any acquisition by the Company, (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the
Company or any corporation controlled by the Company or (4) any acquisition by any Person pursuant to a transaction which complies with clauses (1), (2) and (3) of subsection (iii) of this definition; or 

ii. A change in the composition of the Board such that the individuals who, as of the Effective Date of the Plan,
constitute the Board (such Board shall be hereinafter referred to as the “Incumbent Board”) cease for any reason to constitute 

 

 1 

 
at least a majority of the Board; provided, however, for purposes of this definition, that any individual who becomes a member of the Board subsequent to such Effective Date, whose
election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent Board (or deemed to be such pursuant
to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but, provided further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened
election contest or other actual or threatened solicitation of proxies or consents by or on behalf of a person or legal entity other than the Board shall not be so considered as a member of the Incumbent Board; or 

iii. The consummation of a reorganization, merger, statutory share exchange or consolidation or sale or other
disposition of all or substantially all of the assets of the Company or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries or other similar transactions (“Corporate Transaction”), in each case
unless, following such Corporate Transaction, (1) all or substantially all of the individuals and entities who were the Beneficial Owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities
immediately prior to such Corporate Transaction beneficially own, directly or indirectly, more than 50 percent of, respectively, the common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in
the election of directors, as the case may be, of the entity resulting from such Corporate Transaction (including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s
assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Corporate Transaction, of the Outstanding Company Common Stock and Outstanding Company Voting Securities,
as the case may be, (2) no Person (other than the Company, any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or such entity resulting from such Corporate
Transaction) beneficially owns, directly or indirectly, 20 percent or more of, respectively, the outstanding shares of Common Stock of the corporation resulting from such Corporate Transaction or the combined voting power of the outstanding
voting securities of such corporation entitled to vote generally in the election of Directors except to the extent that such ownership existed with respect to the Company prior to the Corporate Transaction and (3) individuals who were members
of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Corporate Transaction constitute at least a majority of the Board of Directors of the corporation resulting from such
Corporate Transaction; or 
 iv. The approval by the stockholders of the Company of a complete liquidation
or dissolution of the Company. 
 (h) “Code” means the Internal Revenue Code of 1986, as amended from time to
time. 
 (i) “Commission” means the Securities and Exchange Commission or any successor agency. 

(j) “Committee” means the committee described in Article 3 or (unless otherwise stated) its designee pursuant to a
delegation by the Committee as contemplated by Section 3.3. 
 (k) “Common Stock” shall mean the common
stock of the Company, par value $.01 per share. 
 (l) “Company” means Tupperware Brands Corporation, a Delaware
corporation, or any successor thereto as provided in Article 18 herein. 
 (m) “Covered Employee” has the meaning
ascribed thereto in Section 162(m) of the Code and the regulations thereunder. 
 (n) “Director” means any
individual who is a member or prospective member of the Board of Directors of the Company. 
 (o) “Disability”
means the inability of an Employee to perform the material duties of his or her occupation as determined by the Committee. 

(p) “Effective Date” means the date the Plan is approved by the stockholders of the Company. 

(q) “Employee” means any nonunion employee or prospective employee of the Company or of the Company’s Subsidiaries or
affiliates. Directors who are not otherwise employed by the Company shall not be considered Employees under this Plan. 

(r) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto.

 (s) “Fair Market Value” means, except as expressly provided otherwise, as of any given date, the closing sales
price of the Common Stock during normal business hours on the New York Stock Exchange Composite Tape or, if not listed on such exchange, on any other national securities exchange on which the Common Stock is listed or on NASDAQ. If there is no
regular public trading market for such Common Stock, the Fair Market Value of the Common Stock shall be determined by the Committee in good faith. 

(t) “Freestanding SAR” means a SAR that is granted independently of any Options pursuant to Section 7.1 herein.

 (u) “Good Reason” means the assignment to the Participant of any duties materially inconsistent in any respect
with the Participant’s position (including a material negative change regarding the Participant’s status, offices, titles or reporting requirements), authority, duties or responsibilities, or any other action by the Company which results
in a material diminution in such position, 
  

 2 

 
authority, duties or responsibilities (but not occurring solely as a result of the Company’s ceasing to be a publicly traded entity) existing immediately prior to the date of the Change of
Control, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Participant. Any good faith determination of
“Good Reason” made by the Committee shall be conclusive. The Participant’s mental or physical incapacity following the occurrence of an event described in above clauses shall not affect the Participant’s ability to terminate
employment for Good Reason. 
 (v) “Incentive Stock Option” or “ISO” means an option to purchase
Shares, granted under Article 6 herein, which is designated as an Incentive Stock Option and is intended to meet the requirements of Section 422 of the Code. 

(w) “Insider” shall mean an Employee who is, on the relevant date, an officer, Director, or more than ten percent (10
percent) Beneficial Owner of the Company. 
 (x) “Non-Qualified Stock Option” or “NQSO” means an option
to purchase Shares, granted under Article 6 herein, which is not intended to be an Incentive Stock Option. 

(y) “Option” or “Stock Option” means an Incentive Stock Option or a Non-Qualified Stock Option. 

(z) “Option Price” means the price at which a Share may be purchased by a Participant pursuant to an Option, as determined
by the Committee. 
 (aa) “Outside Director” means a member of the Board who qualifies as an outside director as
defined in Rule 162(m) of the Code, as promulgated by the Internal Revenue Service (the “Service”) under the Code, or any implementing or interpretive regulations from time to time, or any successor definition adopted by the Service.

 (bb) “Participant” means an Employee or Director of or a consultant to the Company or any of its Subsidiaries
or affiliates who has been granted an Award under the Plan. 
 (cc) “Performance Award” means an Award granted to
a Participant, as described in Article 10 herein, including Performance Units and Performance Shares. 

(dd) “Performance Goals” means the performance goals established by the Committee prior to the grant of Performance Awards
that are based on the attainment of one or any combination of the following: specified levels of net income or earnings per share from continuing operations, operating income, segment profit, revenues, return on operating assets, return on equity,
return on invested capital, stockholder return (measured in terms of stock price appreciation) and/or total stockholder return (measured in terms of stock price appreciation plus cash dividends), achievement of cost control, working capital turns,
cash flow, economic value added, sales force growth, or stock price of the Company or such Subsidiary, division or department of the Company for or within which the Participant primarily renders services and that are intended to qualify under
Section 162(m) (4) (c) of the Code. Such Performance Goals also may be based upon the attaining of specified levels of Company performance under one or more of the measures described above relative to the performance of other
corporations. Such Performance Goals shall be set by the Committee within the time period prescribed by Section 162(m) of the Code and related regulations. 

(ee) “Performance Period” means a time period during which Performance Goals established in connection with Performance
Awards must be met. 
 (ff) “Performance Unit” means an Award granted to a Participant, as described in Article
10 herein. 
 (gg) “Performance Share” means an Award granted to a Participant, as described in Article 10
herein. 
 (hh) “Restriction Period” or “Period” means the period or periods during which the transfer
of Shares of Restricted Stock or Restricted Stock Units is limited based on the passage of time and the continuation of service with the Company and the Shares are subject to a substantial risk of forfeiture, as provided in Article 8 herein.

 (ii) “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and
used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d). 

(jj) “Restricted Stock” means an Award granted to a Participant pursuant to Article 8 herein. 

(kk) “Restricted Stock Unit” means an Award granted to a Participant pursuant to Article 9 herein. 

(ll) “Share” means a share of common stock of the Company. 

 

 3 

 (mm) “Subsidiary” or “Subsidiaries” means any corporation or
corporations in which the Company owns directly, or indirectly through Subsidiaries, at least twenty-five percent (25 percent) of the total combined voting power of all classes of stock, or any other entity (including, but not limited to,
partnerships and joint ventures) in which the Company owns at least twenty-five percent (25 percent) of the combined equity thereof. 

(nn) “Stock Appreciation Right” or “SAR” means an Award, granted alone (Freestanding SAR) or in connection with
a related Option (Tandem SAR), designated as a SAR, pursuant to the terms of Article 7 herein. 
 (oo) “Tandem
SAR” means a SAR that is granted in connection with a related Option pursuant to Section 7.1 herein, the exercise of which shall require forfeiture of the right to purchase a Share under the related Option (and when a Share is purchased
under the Option, the Tandem SAR shall similarly be cancelled). 
 ARTICLE 3. Administration 

3.1. The Committee. The Plan shall be administered by the Compensation and Management Development Committee or such other
committee of the Board (the “Committee”) as the Board may from time to time designate, which shall be composed solely of not less than two Outside Directors, and shall be appointed by and serve at the pleasure of the Board. 

3.2. Authority of the Committee. The Committee shall have plenary authority to grant Awards pursuant to the terms of the Plan
to Employees of and to consultants to the Company and its Subsidiaries and affiliates, except that the Nominating and Governance Committee of the Board of Directors of the Company shall have authority to grant Awards pursuant to the terms of the
Plan to Directors of the Company. 
 Among other things, the Committee shall have the authority, subject to the terms of the Plan: 

(a) To select the Employees and consultants to whom Awards may from time to time be granted; 

(b) To determine whether and to what extent Incentive Stock Options, Non-Qualified Stock Options, SARs, Restricted Stock, Restricted
Stock Units, Performance Awards or other stock-based or non-stock-based awards or any combination thereof are to be granted hereunder; 

(c) To determine the number of Shares to be covered by each Award granted hereunder; 

(d) To determine (by approving the forms of Award Agreements or otherwise by resolution) the terms and conditions of any Award
granted hereunder (including, but not limited to, the Option Price (subject to Section 6.4 (a)), the duration, any vesting condition, restriction or limitation (which may be related to the performance of the Participant, the Company or any
Subsidiary or affiliate), any vesting acceleration or forfeiture waiver regarding any Award and the Shares relating thereto, and the impact on any Award from termination of employment (whether as a consequence of death, Disability, retirement,
action by the Company, action by the Participant or Change of Control) of an Employee, or the termination of services of a consultant, based on such factors as the Committee shall determine; provided, however, that (i) the Committee shall have
no authority to accelerate or waive any vesting except in cases of the death, Disability or retirement of a Participant or in the case of a Change of Control; (ii) notwithstanding anything to the contrary in this Plan, no performance-based
award shall be exercisable or shall vest and be paid out in less than one (1) year from the date of grant, and no non-performance-based award (such as Restricted Stock Awards and Restricted Stock Unit Awards) shall be exercisable or shall vest
and be paid out in less than three (3) years, except that non-performance-based awards may begin to be exercisable or vest and be paid out ratably over a three (3) year period beginning with the first anniversary of the date of grant, and
non-performance-based awards for Directors may be exercisable or vest and be paid out not less than one (1) year from the date of grant; and (iii) notwithstanding the limitations contained in subsections (i) and (ii) of this
proviso, the Committee shall have the authority to take such actions regarding accelerations, waivers, exercise and or vesting terms otherwise limited by such subsections, so long as the aggregate number of Shares under Awards subject to such
actions do not exceed 10% of the number of Shares available for grant under the Plan as contemplated by Section 4.1 below; 

(e) To determine the methodology of counting Shares available for grant under the terms of the Plan. 

(f) To modify, amend or adjust the terms and conditions of any Award, at any time or from time to time, including but not limited to
Performance Goals, unless at the time of establishment of goals the Committee shall have precluded its authority to make such adjustments; and 

(g) To determine to what extent and under what circumstances Shares and other amounts payable with respect to an Award shall be
deferred. 
 The Committee shall have the authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the
Plan as it shall from time to time deem advisable, to interpret the terms and provisions of the Plan and any Award issued under the Plan (and any Award Agreement relating thereto), to create sub-plans that may be desirable for limited groups of
participants or jurisdictions and to otherwise supervise the administration of the Plan. 
  

 4 

 3.3. Action of the Committee. The Committee may, to the fullest extent permitted
by law and subject to such limitations and procedures as may be required by law or as the Committee may deem appropriate, (i) delegate to an officer of the Company the authority to take actions or make decisions pursuant to Section 2(f),
Section 3.2, Section 5.2, and Section 6.4, provided that no such delegation may be made that would cause Awards or other transactions under the Plan to cease either to be exempt from Section 16(b) of the Exchange Act or to
qualify as “qualified performance-based compensation” as such term is defined in the regulations promulgated under Section 162(m) of the Code, and (ii) authorize any one or more of their members or any officer of the Company to
execute and deliver documents on behalf of the Committee. 
 3.4. Decisions Binding. Any determination made by the
Committee or pursuant to delegated authority pursuant to the provisions of the Plan with respect to any Award shall be made in the sole discretion of the Committee or such delegate at the time of the grant of the Award or, unless in contravention of
any express term of the Plan, at any time thereafter. All decisions made by the Committee or any appropriately delegated officer pursuant to the provisions of the Plan shall be final and binding on all persons, including the Company and Plan
Participants. 
 ARTICLE 4. Shares Subject to the Plan 

4.1. Number of Shares. Subject to adjustment as provided in Section 4.3 herein, the total number of Shares available
for grant under the Plan (“Share Pool”) shall be the sum of (x) 4,750,000, (y) the number of Shares that remain available for issuance under the Tupperware Brands Corporation 2006 Incentive Plan and the Tupperware Brands
Corporation Director Stock Plan (the “Prior Plans”), and (z) any Shares which, upon a forfeiture or other event occurring under a Prior Plan or previous incentive plan of the Company, would otherwise return to such plan for
availability for reissuance in a future award. No Participant may be granted (i) Stock Options and Freestanding SARs in any one year covering, in the aggregate, in excess of 750,000 Shares, or (ii) Restricted Stock, Restricted Stock Units
and Performance Awards in any one year in excess of 250,000 Shares. Shares subject to an Award under the Plan may be authorized and unissued Shares or may be treasury Shares. As of the Effective Date, the Company shall cease to grant
awards under the Prior Plans. 
 4.2. Share Counting. The following rules shall apply for purposes of the
determination of the number of Shares available for grant under the Plan: 
 (a) Each Option awarded shall
be counted as one share subject to an Award and deducted from the Share Pool. 
 (b) Each share of
Restricted Stock or Restricted Stock Unit shall be counted as 2.0 Shares subject to an Award and deducted from the Share Pool. 

(c) Each Performance Award that is or is required to be settled in Shares shall be counted as 2.0 Shares subject to
an Award and deducted from the Share Pool, and if the Performance Award is expressed as a dollar amount rather than a number of shares, with the number of shares determined by dividing the value of the Performance Award at grant by the Fair Market
Value of a share at grant and then multiplying the result by 2.0. Performance Awards that may not be settled in Shares (or that may be settled in Shares but are not) shall not result in a reduction from the Share Pool. 

(d) Each Stock Appreciation Right that may be settled in Shares shall be counted as one Share subject to an Award and
deducted from the Share Pool. For each Stock Appreciation Right which is settled in Shares, the full number of shares subject to such Stock Appreciation Right shall be counted against the Share Pool, rather than the net-settled number of Shares
actually issued in such settlement. Stock Appreciation Rights that may not be settled in Shares shall not result in a reduction from the Share Pool. In addition, if a Stock Appreciation Right is granted in connection with an Option and the
exercise of the Stock Appreciation Right results in the loss of the Option right, the Shares that otherwise would have been issued upon the exercise of such related Option shall not result in a reduction in the Share Pool. 

(e) If, for any reason, any Shares awarded or subject to purchase under the Plan or the Company’s Prior Plans
are not delivered or purchased, or are reacquired by the Company, for reasons including, but not limited to, a forfeiture of Restricted Stock or a Restricted Stock Unit, or the termination, expiration or cancellation of an Option, Stock Appreciation
Right, Restricted Stock Unit, or Performance Award, or settlement of any Award in cash rather than Shares, such Shares (the “Returned Shares”) shall again be available for issuance pursuant to an Award under the Plan and shall be added to
the Share Pool, provided that any addition to the Share Pool shall be adjusted by whatever factor or factors were applied to determine the number of Shares originally deducted from the Share Pool. If the Option Exercise Price, purchase price
and/or tax withholding obligation under an Award is satisfied by the Company retaining Shares or by the Participant tendering Shares (either by actual delivery or attestation), the number of Shares so retained or tendered shall be deemed delivered
for purposes of determining the Share Pool and shall not be available for issuance pursuant to an Award under the Plan. 
  

 5 

 4.3. Adjustments in Authorized Shares and Prices. In the event of any change in
corporate capitalization, such as a stock split, or a corporate transaction, such as any merger, consolidation, separation, including a spin-off, or other distribution of stock or property of the Company, any reorganization (whether or not such
reorganization comes within the definition of such term in Section 368 of the Code) or any partial or complete liquidation of the Company, the Committee or Board may make such substitution or adjustments in the aggregate number and class of
Shares reserved for issuance under the Plan, in the number, kind and Option Price of Shares subject to outstanding Stock Options or SARs, in the number and kind of Shares subject to other outstanding Awards granted under the Plan or subject to
limitations such as Restricted Stock Awards or Restricted Stock Units or per-Participant maximum awards and/or such other equitable substitution or adjustments as it may determine to be appropriate in its sole discretion; provided,
however, that the number of Shares subject to any Award shall always be a whole number; and provided further, however, that notwithstanding the foregoing, in the event of a change in capitalization that is the result of an equity
restructuring which is not the consequence of a corporate transaction with a third-party, such substitutions or adjustments shall be required to be made. Such adjusted Option Price shall also be used to determine the amount payable by the Company
upon the exercise of any Tandem SAR. Such substitutions and adjustments may include, without limitation, canceling any and all Awards in exchange for cash payments based upon the value realized by shareholders generally with respect to Shares in
connection with such a corporate transaction. 
 ARTICLE 5. Eligibility and Participation 

5.1. Eligibility . Persons eligible to be granted Awards under this Plan include all Employees and Directors of and all
consultants to the Company or any of its Subsidiaries or affiliates, and all prospective Employees and Directors of and consultants to the Company or any of its Subsidiaries or affiliates, as determined by the Committee, including Employees who are
members of the Board. 
 5.2. Actual Participation. Subject to the provisions of the Plan, the Committee may, from
time to time, select from all eligible Employees and consultants, those to whom Awards shall be granted and shall determine the nature and amount of each Award, except that the Nominating and Governance Committee of the Board of the Company shall
have the authority to perform such function for Directors. 
 ARTICLE 6. Stock Options 

6.1. Grant of Options. Stock Options may be granted alone or in addition to other Awards granted under the Plan and may be of
two types: Incentive Stock Options and Non-Qualified Stock Options. Any Stock Option granted under the Plan shall be in such form as the Committee may from time to time approve. The Committee shall have the authority to grant any optionee Incentive
Stock Options, Non-Qualified Stock Options or both types of Stock Options (in each case with or without Stock Appreciation Rights); provided, however, that grants hereunder are subject to the aggregate limit on grants to individual
Participants set forth in Article 4. Incentive Stock Options may be granted only to employees of the Company and any “subsidiary corporation” (as such term is defined in Section 424(f) of the Code). To the extent that any Stock Option
is not designated as an Incentive Stock Option or even if so designated does not qualify as an Incentive Stock Option, it shall constitute a Non-Qualified Stock Option. 

6.2. Award Agreement. Stock Options shall be evidenced by Award Agreements, the terms and provisions of which may differ. An
Award Agreement shall indicate on its face whether it is intended to be an agreement for an Incentive Stock Option or a Non-Qualified Stock Option. The grant of a Stock Option shall occur on the date the Committee by resolution selects an individual
to be a Participant in any grant of a Stock Option, determines the number of Shares to be subject to such Stock Option to be granted to such individual and specifies the terms and provisions of the Stock Option, or such later date as the Committee
designates. The Company shall notify a Participant of any grant of a Stock Option, and a written Award Agreement or agreements shall be duly executed and delivered by the Company to the Participant. Such agreement or agreements shall become
effective upon execution by the Company and the Participant and may take the form of electronic agreements and electronic signatures or acceptances. 

6.3. Incentive Stock Options. Notwithstanding any other provision of the Plan, no Incentive Stock Option
may be granted under the Plan after the 10th anniversary
of the Effective Date. 
 6.4. Terms and Conditions. Stock Options granted under the Plan shall be subject to the
following terms and conditions and shall contain such additional terms and conditions as the Committee shall deem desirable: 

(a) Stock Option Price. The Option Price per Share purchasable under a Stock Option shall be determined by the Committee and
set forth in the Award Agreement, and shall not be less than the Fair Market Value of the Common Stock subject to the Stock Option on the date of grant. 

(b) Option Term. The term of each Stock Option shall be fixed by the Committee, but no Stock Option shall be exercisable more
than 10 years after the date the Stock Option is granted. 
 (c) Exercisability. Except as otherwise provided
herein, Stock Options shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee. If the Committee provides that any Stock Option is exercisable only in installments, the Committee may
at any time waive such installment exercise provisions, in whole or in part, or accelerate the exercisability of any Stock Option, based on such factors as the Committee may determine, but in each case subject to Section 3.2(d) above.

  

 6 

 (d) Method of Exercise. Subject to the provisions of this Article 6, Stock
Options may be exercised, in whole or in part, at any time during the term of the Stock Option by giving written notice of exercise to the Company specifying the number of Shares subject to the Stock Option to be purchased. 

Such notice shall be accompanied by payment in full of the Option Price by certified or bank check or such other instrument as the Company may accept.
Payment, in full or in part, may also be made in the form of delivery of unrestricted Shares already owned by the optionee of the same class as the Shares subject to the Stock Option (based on the Fair Market Value of the Shares on the date the
Stock Option is exercised) and, unless such Shares were acquired in the open market, held for a period of not less than six months prior to the exercise of the Stock Option, or by certifying ownership of such Shares by the Participant to the
satisfaction of the Company for later delivery to the Company as specified by the Committee; provided, however, that, in the case of an Incentive Stock Option, the right to make a payment in the form of already owned Shares of the same
class as the Shares subject to the Stock Option may be authorized only at the time the Stock Option is granted. Payment may also be made in the case of an NQSO only by a “net exercise” arrangement pursuant to which the Company will reduce
the shares of Common Stock issued upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price; provided, however, that the Company shall accept a cash or other payment from the
Participant to the extent of any remaining balance of the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued; provided, further, that shares of Common Stock will no longer be outstanding under a Stock
Option and will not be exercisable thereafter to the extent that (A) shares are used to pay the exercise price pursuant to the “net exercise,” (B) shares are delivered to the Participant as a result of such exercise, and
(C) shares are withheld to satisfy tax withholding obligations. In the discretion of the Committee and to the extent permitted by applicable law, as set forth in a form of Stock Option agreement or in a resolution of the Committee, payment for
any Shares subject to a Stock Option may also (or only) be made pursuant to a “cashless exercise” by delivering a properly executed exercise notice to the Company, together with a copy of irrevocable instructions to a broker to deliver
promptly to the Company the amount of sale or loan proceeds to pay the purchase price, and, if requested, the amount of any federal, state, local or foreign withholding taxes. To facilitate the foregoing, the Company may enter into agreements for
coordinated procedures with one or more brokerage firms. 
 No Shares shall be issued until full payment therefor has been made. An optionee
shall have all of the rights of a stockholder of the Company holding the class or series of Shares that is subject to such Stock Option (including, if applicable, the right to vote the Shares and the right to receive dividends), when the optionee
has given written notice of exercise and has paid in full for such Shares. 
 (e) Restrictions on Share
Transferability. The Committee may impose such restrictions on any Shares acquired pursuant to the exercise of a Stock Option under the Plan as it may deem advisable, including, without limitation, restrictions under applicable federal
securities laws, under the requirements of any stock exchange or market upon which such Shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such Shares. 

ARTICLE 7. Stock Appreciation Rights 

7.1. Grant of SARs. Subject to the terms and conditions of the Plan, a SAR may be granted to an Employee, Director or
consultant at any time and from time to time as shall be determined by the Committee. The Committee may grant Freestanding SARs, Tandem SARs, or any combination of these forms of SAR. In the case of a Non-Qualified Stock Option, Tandem SARs may be
granted either at or after the time of grant of such Stock Option. In the case of an Incentive Stock Option, Tandem SARs may be granted only at the time of grant of such Stock Option. 

The Committee shall have complete discretion in determining the number of SARs granted to each Participant (subject to the aggregate limit on grants to
individual Participants set forth in Article 4) and, consistent with the provisions of the Plan, in determining the terms and conditions pertaining to such SARs. However, the grant price of a Freestanding SAR shall be at least equal to the Fair
Market Value of a Share on the date of grant of the SAR. The grant price of Tandem SARs shall equal the Option Price of the related Option. 

7.2. Exercise of Tandem SARs. Tandem SARs may be exercised for all or part of the Shares subject to the related Option upon
the surrender of the right to exercise the equivalent portion of the related Option. A Tandem SAR shall terminate and no longer be exercisable upon the termination or exercise of the related Stock Option. A Tandem SAR may be exercised only with
respect to the Shares for which its related Option is then exercisable. 
 Notwithstanding any other provision of this Plan to the contrary,
with respect to a Tandem SAR granted in connection with an ISO: (i) the Tandem SAR will expire no later than the expiration of the underlying ISO; (ii) the value of the payout with respect to the Tandem SAR may be for no more than one
hundred percent (100 percent) of the difference between the Option Price of the underlying ISO and the Fair Market Value of the Shares subject to the underlying ISO at the time the Tandem SAR is exercised; and (iii) the Tandem SAR may
be exercised only when the Fair Market Value of the Shares subject to the ISO exceeds the Option Price of the ISO. 

7.3. Exercise of Freestanding SARs. Subject to the other provisions of this Article 7, Freestanding SARs may be exercised
upon whatever terms and conditions the Committee, at its sole discretion, imposes upon them. 
 7.4. SAR Agreement.
Each SAR grant shall be evidenced by an Award Agreement that shall specify the grant price, the term of the SAR, and such other provisions as the Committee shall determine. 

 

 7 

 7.5. Term of SARs. The term of a SAR granted under the Plan shall be determined
by the Committee, at its sole discretion; provided, however, that such term shall not exceed ten (10) years. 

7.6. Payment of SAR Amount. Upon exercise of a SAR, a Participant shall be entitled to receive payment from the Company in an
amount determined by multiplying: 
 (a) The excess of the Fair Market Value of a Share on the date of exercise over the
grant price of the SAR; by 
 (b) The number of Shares with respect to which the SAR is exercised. 

At the discretion of the Committee, the payment upon SAR exercise may be in cash, in Shares of equivalent value, or in some combination thereof.

 7.7. Rule 16b-3 Requirements. Notwithstanding any other provision of the Plan, the Committee may impose such
conditions on exercise of a SAR (including, without limitation, the right of the Committee to limit the time of exercise to specified periods) as may be required to satisfy the requirements of any rule or interpretation promulgated under
Section 16 (or any successor rule) of the Exchange Act. 
 ARTICLE 8. Restricted Stock 

8.1. Administration . Shares of Restricted Stock may be awarded either alone or in addition to other Awards granted under the
Plan. The Committee shall determine the Employees, Directors and consultants to whom and the time or times at which grants of Restricted Stock will be awarded, the number of Shares to be awarded to any Participant (subject to the aggregate limit on
grants to individual Participants set forth in Article 4), the conditions for vesting, the time or times within which such Awards may be subject to forfeiture and any other terms and conditions of the Awards, in addition to those contained in
Section 8.3. 
 The Committee may, prior to grant, condition the vesting of Restricted Stock upon continued service of the Participant. The
provisions of Restricted Stock Awards need not be the same with respect to each recipient. 
 8.2. Awards and
Certificates. Shares of Restricted Stock shall be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or issuance of one or more stock certificates. Any certificate issued in respect of Shares of
Restricted Stock shall be registered in the name of such Participant and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award, substantially in the following form: 

“The sale or other transfer of the Shares of stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is
subject to certain restrictions on transfer as set forth in the Tupperware Brands Corporation 2010 Incentive Plan, or in an Award Agreement. A copy of the Plan and such Award Agreement may be obtained from Tupperware Brands Corporation.”

 The Committee may require that the certificates evidencing such Shares be held in custody by the Company until the restrictions thereon shall
have lapsed and that, as a condition of any Award of Restricted Stock, the Participant shall have delivered a stock power, endorsed in blank, relating to the Common Stock covered by such Award. 

8.3. Terms and Conditions. Shares of Restricted Stock shall be subject to the following terms and conditions: 

(a) Subject to the provisions of the Plan and the Award Agreement referred to in Section 8.3(d), during the Restricted Period,
the Participant shall not be permitted to sell, assign, transfer, pledge or otherwise encumber Shares of Restricted Stock. Within these limits, the Committee may, subject to Section 3.2(d) above, provide for the lapse of restrictions based upon
period of service in installments or otherwise and may accelerate or waive, in whole or in part, restrictions based upon period of service. 

(b) Except as provided in this paragraph (b) and paragraph (a), above, and the Award Agreement, the Participant shall have,
with respect to the shares of Restricted Stock, all of the rights of a stockholder of the Company holding the class or series of Shares that is the subject of the Restricted Stock to vote the Shares. Dividends shall be held and shall accrue, subject
to the vesting of the underlying Restricted Stock, unless the Committee determines otherwise in the applicable Award Agreement or makes an adjustment or substitution to the Restricted Stock pursuant to Section 4.3 in connection with such
dividend or distribution. 
 (c) If and when any applicable Restriction Period expires without a prior forfeiture of the
Restricted Stock, book-entry registration or unlegended certificates for such Shares, as determined by the Committee, and any accrued but unpaid dividends shall be delivered to the Participant. 

(d) Each Award shall be confirmed by, and be subject to, the terms of an Award Agreement. 

ARTICLE 9. Restricted Stock Units 

9.1. Nature of Award. Restricted Stock Units are Awards denominated in Shares that will be settled, subject to the terms and
conditions of the Restricted Stock Units, either by delivery of Shares to the Participant or by the payment of cash based upon the Fair Market Value of a specified number of Shares. Restricted Stock Units may be awarded either alone or in addition
to other Awards granted under the Plan. The Committee shall determine the conditions for vesting, the time or times within which such Awards may be subject to forfeiture and any other terms and conditions of the Awards, in addition to those
contained in Section 9.2. 
 9.2. Terms and Conditions. The Committee may, in connection with the grant of
Restricted Stock Units, designate them as Performance Awards, in which event it shall condition the vesting thereof upon the attainment of Performance Goals. If the Committee does not designate Restricted Stock Units as Performance Awards, it may
also condition the vesting thereof upon the 
  

 8 

 
attainment of Performance Goals. Regardless of whether Restricted Stock Units are Performance Awards, the Committee may also condition the vesting thereof upon the continued service of the
Participant. The applicable Award Agreement shall specify the consequences for the Restricted Stock Units of the Participant’s termination of employment. An Award of Restricted Stock Units shall be settled as and when the Restricted Stock Units
vest or at a later time specified by the Committee or in accordance with an election of the Participant, if the Committee so permits. Restricted Stock Units may not be sold, assigned, transferred, pledged or otherwise encumbered until they are
settled, except to the extent provided in the applicable Award Agreement in the event of the Participant’s death. The Award Agreement for Restricted Stock Units shall specify whether, to what extent and on what terms and conditions the
applicable Participant shall be entitled to receive current or deferred payments of cash, Common Stock or other property corresponding to the dividends payable on the Common Stock (subject to Section 21.3 below). 

ARTICLE 10. Performance Awards 

10.1. Grant of Performance Awards. Subject to the terms of the Plan, Performance Awards may be granted either alone or in
addition to other Awards granted under the Plan, as determined by the Committee. Such Performance Awards may take the form determined by the Committee, including without limitation, cash, Shares, Performance Units and Performance Shares, or any
combination thereof. Performance Awards may be awarded as short-term or long-term incentives. Each Director shall receive a one-time grant of one thousand (1,000) Shares upon serving his or her initial three months as a member of the Board.

 10.2. Performance Goals. 

(a) The Committee may set Performance Goals at its discretion which, depending on the extent to which they are met, will determine
the number and/or value of Performance Awards that will be paid out to the Participants, and may attach to such Performance Awards one or more restrictions, including, without limitation, a requirement that Participants pay a stipulated purchase
price for each Performance Share, or restrictions which are necessary or desirable as a result of applicable laws or regulations. Each Performance Award may be confirmed by, and be subject to, an Award Agreement. 

(b) The Committee shall have the authority at any time to make adjustments to Performance Goals for any outstanding Performance
Awards which the Committee deems necessary or desirable unless at the time of establishment of goals the Committee shall have precluded its authority to make such adjustments. 

10.3. Value of Performance Units/Shares. 

(a) Each Performance Unit shall have an initial value that is established by the Committee at the time of grant. 

(b) Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the date of grant. 

10.4. Earning of Performance Awards. After the applicable Performance Period has ended, the holder of any Performance Award
shall be entitled to receive the payout earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding Performance Goals have been achieved, except as adjusted pursuant to
Section 10.2(b) or as deferred pursuant to Article 13. 
 10.5. Timing of Payment of Performance Awards.
Payment of earned Performance Awards shall be made in accordance with terms and conditions prescribed or authorized by the Committee. The Committee may permit the Participants to elect to defer or the Committee may require the deferral of, the
receipt of Performance Awards upon such terms as the Committee deems appropriate. 
 ARTICLE 11. Other Stock-Based Awards

 Other Awards of Common Stock and other Awards that are valued in whole or in part by reference to, or are otherwise based
upon, Common Stock, including (without limitation) dividend equivalents and convertible debentures, may be granted under the Plan; provided, however, that dividends or dividend equivalents shall not be included in such other Awards which take the
form of Stock Options or Stock Appreciation Rights. 
 ARTICLE 12. Beneficiary 

12.1. Designation . Each Participant under the Plan may, from time to time, name any Beneficiary or Beneficiaries (who may be
named contingently or successively). Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Company, and shall be effective only when filed by the Participant in writing with the
Company during the Participant’s lifetime. Any such designation shall control over any inconsistent testamentary or inter vivos transfer by a Participant, and any benefit of a Participant under the Plan shall pass automatically to a
Participant’s Beneficiary pursuant to a proper designation pursuant to this Section 12.1 without administration under any statute or rule of law governing the transfer of property by will, trust, gift or intestacy. 

12.2. Absence of Designation. In the absence of any such designation contemplated by Section 12.1, benefits remaining
unpaid at the Participant’s death shall be paid pursuant to the Participant’s will or pursuant to the laws of descent and distribution. 

ARTICLE 13. Deferrals 

13.1. Deferrals. The Committee may permit a Participant to elect, or the Committee may require at its sole discretion subject
to the proviso set forth below, any one or more of the following: (i) the deferral of the Participant’s receipt of cash, (ii) a delay in the exercise of an Option or SAR, (iii) a delay in the lapse or waiver of restrictions with
respect to Restricted Stock or Restricted Stock 
  

 9 

 
Units, or (iv) a delay of the satisfaction of any requirements or goals with respect to Performance Awards; provided, however, the Committee’s authority to take such
actions hereunder shall exist only to the extent necessary to reduce or eliminate a limitation on the deductibility of compensation paid to the Participant pursuant to (and so long as such action in and of itself does not constitute the exercise of
impermissible discretion under) Section 162(m) of the Code, or any successor provision thereunder. If any such deferral is required or permitted, the Committee shall establish rules and procedures for such deferrals, including provisions
relating to periods of deferral, the terms of payment following the expiration of the deferral periods, and the rate of earnings, if any, to be credited to any amounts deferred thereunder. 

13.2. Section 409A. Notwithstanding the foregoing, if any deferral permitted by this Plan or an Award Agreement or any
distribution of an Award pursuant to the terms of this Plan or an Award Agreement would subject a Participant to tax under Section 409A of the Code, the Company shall modify the Plan or applicable Award Agreement in the least restrictive manner
necessary in order to comply with the provisions of Section 409A, other applicable provision(s) of the Code and/or any rules, regulations or other regulatory guidance issued under such statutory provisions and, in each case, without any
material diminution in the value of the payments to an affected Participant. 
 ARTICLE 14. Rights of Employees and Consultants 

 14.1. Employment . Nothing in the Plan shall interfere with or limit in any way the right of the Company to
terminate any Participant’s employment or status as a consultant at any time, nor confer upon any Participant any right to continue in the employ of the Company or any of its Subsidiaries or affiliates or to continue as a consultant. For
purposes of the Plan, transfer of employment of a Participant between the Company and any one of its Subsidiaries and affiliates (or between Subsidiaries and affiliates) shall not be deemed a termination of employment. However, if a Subsidiary or
affiliate of the Company ceases to be a Subsidiary or affiliate, any Participant who is no longer employed by or a consultant to the Company or one of its remaining Subsidiaries and affiliates following such event shall be considered to have
terminated his or her employment or consultancy, notwithstanding any continued employment or consultancy with such former Subsidiary or affiliate. 

14.2. Participation . No Employee, Director or consultant shall have the right to be selected to receive an Award under this
Plan, or, having been so selected, to be selected to receive a future Award. 
 ARTICLE 15. Change of Control 

(a) Treatment of Outstanding Awards. 

In the event of a Change of Control, the successor organization (the “Successor”) may substitute equivalent awards. A substitute equivalent
award must (i) have a value at least equal to the value of the Award being substituted as determined by the Committee in its sole discretion; (ii) relate to a publicly-traded equity security of the Successor involved in the Change of
Control or another entity that is affiliated with the Company or the Successor following the Change of Control; (iii) be the same type of award to the Award being substituted; and (iv) have other terms and conditions that are not less
favorable to the Participant than the terms and conditions of the Award being substituted, as determined by the Committee in its sole discretion. If an Award is substituted by the Successor and within two (2) years following a Change of Control
the Participant (i) is terminated by the Successor (or an affiliate thereof) without Cause or (ii) if the Participant is an executive officer of the Company (who is subject to reporting under Section 16 of the Exchange Act of 1934)
and resigns for Good Reason, the following rules shall apply to the substituted Awards, unless otherwise specifically provided in the applicable Award Agreement: 
  

	 	(A)	Vesting of Options and SARs. Any and all Options and SARs shall become immediately exercisable as of the termination or resignation.

  

	 	(B)	Lapse of Restricted Stock and Unit Restrictions that are not Performance-Based. Any restrictions imposed on Restricted Stock or Restricted Stock Units that
are not performance-based shall lapse. Restricted Stock Units shall be paid in cash or stock as provided in the Award Agreement. If such Restricted Stock Units are exempt from the requirements of Code § 409A, the Restricted Stock Units
shall be paid within thirty (30) days following the termination or resignation. If such Restricted Stock Units are subject to the requirements of Code § 409A, then the Restricted Stock Units shall be paid within the thirty
(30) day period following the six (6) month anniversary of the Participant’s separation from service (within the meaning of the 409A Guidance) (a “Separation from Service”). If a Participant’s termination or resignation
is not a Separation from Service, Restricted Stock Units subject to the requirements of Code § 409A shall be paid as of the earlier of the time specified in the Award Agreement or one day after the six (6) month anniversary of the
date the Participant has a Separation from Service following such Change of Control 

  

 10 

	 	(C)	Vesting, Payment and Achievement of Performance-Based Awards. Performance-based Awards shall vest with respect to each performance measurement tranche
completed during the Performance Period prior to the termination or resignation (or, if the Performance Period is not divided into separate performance measurement tranches, proportionately based on the portion of the Performance Period completed
prior to such resignation or termination and expressed in terms of the total of completed months out of the total number of months within the Performance Period), with payment to be made, based on actual performance, in cash or stock at such time
following the Performance Period as otherwise specified in the Award document. 

  

	 	(D)	Transfer. A transfer of employment among the Successor and its affiliates shall not, in and of itself, be deemed a termination or resignation of employment.

 (b) In the event of a Change of Control, any outstanding Awards that are not substituted with equivalent awards, by the
Successor, or in the case of a dissolution or liquidation of the Company, all Awards shall be subject to the following rules: 
  

	 	(A)	Options and SARs. All Options and SARs shall be fully vested and exercisable and the Committee shall either (1) give a Participant a reasonable
opportunity to exercise the Option and SAR before the transaction resulting in the Change of Control or (2) pay the Participant the difference between the exercise price for the Option or SAR and the consideration provided to other similarly
situated shareholders in such Change of Control. In either case, such Option or SAR shall be cancelled. The Committee shall not be obligated to treat all Options and SARs subject to this Section 15(b) in the same manner.

  

	 	(B)	Lapse of Restricted Stock and Unit Restrictions that are not Performance-Based. Any restrictions imposed on Restricted Stock or Restricted Stock Units that
are not performance-based shall lapse. Restricted Stock Units shall be paid in cash or stock as provided in the Award document. If Restricted Stock Units are exempt from the requirements of Code § 409A, then the Restricted Stock Units
shall be paid within thirty (30) days following the Change of Control. If Restricted Stock Units are subject to the requirements of Code § 409A, then the time of payment will depend on whether the Change of Control is a distribution
event under Treasury Regulation § 1.409A-3(a)(5) (a “409A Change of Control”). If the Change of Control is a 409A Change of Control, then the Restricted Stock Units subject to the requirements of Code § 409A shall be
paid within the thirty (30) day period following the six (6) month anniversary of the Change of Control. If the Change of Control is not a 409A Change of Control, Restricted Stock Units subject to the requirements of Code § 409A
shall be paid as of the earlier of the time specified in the Award Agreement or one day after the six (6) month anniversary of the date the Participant has a Separation from Service following such Change of Control. 

 

	 	(C)	Vesting, Payment and Achievement of Performance-Based Awards. Performance-based Awards shall vest with respect to each performance measurement tranche
completed during the Performance Period prior to the Change of Control or dissolution or liquidation (or, if the Performance Period is not divided into separate performance measurement tranches, proportionately based on the portion of the
Performance Period completed prior to such Change of Control or dissolution or liquidation and expressed in terms of the total of completed months out of the total number of months within the Performance Period), with payment to be made, based on
actual performance, in cash or stock at such time following the Performance Period as otherwise specified in the Award document. 

15.2. Termination, Amendment, and Modifications of Change of Control Provisions. Notwithstanding any other provision of this
Plan or any Award Agreement provision, the provisions of this Article 15 may not be terminated, amended, or modified in any manner that adversely affects any then-outstanding Award without the prior written consent of the Participant if such action
is taken (a) on or after the date of a Change of Control or (b) at the request of a party seeking to effectuate a Change of Control or otherwise in anticipation of a Change of Control. 

ARTICLE 16. Amendment, Modification, and Termination 

16.1. Amendment, Modification, and Termination. Except as specifically provided in Section 15.2, at any time and from
time to time, the Board may terminate, amend, or modify the Plan. However, without the approval of the stockholders of the Company, no such amendment or modification may: 

(a) Increase the total number of Shares which may be issued under this Plan, except as provided in Article 4 hereof; or 

(b) Modify the eligibility requirements; or 

(c) Materially increase the benefits accruing under the Plan. 

 

 11 

 16.2. Awards Previously Granted. (a) Notwithstanding the foregoing, prior
to a Change of Control, the Committee shall have the right to replace any previously granted Award under the Plan with an Award equal to the value of the replaced Award at the time of replacement, as determined by the Committee in its sole
discretion, without obtaining the consent of the Participant holding such Award; provided, however, that notwithstanding the foregoing or the terms of any Award Agreement provision, the Committee shall not modify any Stock Option or
SAR without stockholder approval if the effect of such modification would be to (i) reduce an Option Price of a Stock Option or the grant price of an SAR; (ii) cancel a Stock Option or SAR in exchange for other Awards under the Plan;
(iii) cancel a Stock Option or SAR in exchange for a Stock Option or SAR with a Option Price or grant price, respectively, that is less than the Option Price or grant price of the cancelled Stock Option or SAR, respectively; or (iv) cancel
a Stock Option or SAR in exchange for cash; and provided, further, that no such replacement shall deprive the Participant of any rights he or she may have pursuant to Article 15, which shall apply to the replacement Award to the same
extent as to the replaced Award. 
 (b) In the event it is determined that the Company’s previously reported financial results have been
misstated due to error, omission, fraud or other misconduct, including a misstatement that leads to a restatement of previously issued financial statements, any previous cash payment, deferral of cash payment, or delivery of common stock of the
Company which was made pursuant to any incentive compensation award shall be subject to recovery by the Company as the Committee, in its sole discretion, shall in good faith determine. The Company may recover all or any portion of any award made to
any Participant with respect to a fiscal year of the Company when misstated financial information that formed the basis for the award occurs. The maximum amount subject to recovery from a Participant shall be the amount by which the affected award
exceeded the amount that would have been payable had the financial information been initially prepared as adjusted to correct for the misstatement, or any lesser amount that the Committee may determine; provided, however, that in the case of a
secondary award, the Committee may make such determination as to the amount of any repayment it deems to have been based upon financial results that would have been adjusted to correct such misstatement, up to the total amount of the secondary
award. The Committee shall also have the power under this Section 16.2(b) to (i) recover from a Participant any shares of common stock delivered in connection with an Award, and/or (ii) cancel an outstanding Award in connection with
such an action. 
 16.3. Changes in Law and Tax Accounting. Notwithstanding the provisions of Sections 16.1 and
16.2, the Board shall have authority to amend the Plan to take into account changes in law and tax and accounting rules as well as other developments, and to grant Awards which qualify for beneficial treatment under such rules without stockholder
approval. 
 ARTICLE 17. Withholding 

17.1. Tax Withholding. The Company shall have the power and the right to deduct or withhold, or require a Participant to remit
to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including the Participant’s FICA obligation) required by law to be withheld with respect to any taxable event arising under or as a result of this Plan.

 17.2. Share Withholding. With respect to withholding required and/or permitted upon the exercise of Options or
SARs, upon the lapse of restrictions on Restricted Stock, or upon any other taxable event hereunder, the Committee may require or permit, at its discretion, satisfaction of the withholding requirement, in whole or in part, by having the Company
withhold Shares (or by surrendering Shares previously owned or purchased in the open market) having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax which could be imposed on the transaction.

 ARTICLE 18. Successors 
 All
obligations of the Company under the Plan, with respect to Awards granted hereunder, shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation,
spin-off, or otherwise, of all or substantially all of the business and/or assets of the Company. 
 ARTICLE 19. Nontransferability of
Awards. 
 Unless otherwise determined by the Committee, no Award shall be transferable (either by sale, pledge, assignment, gift, or other
alienation or hypothecation) by a Participant other than by will or by application of the laws of descent and distribution; provided, however, no Award may be transferred for value (as defined in the General Instructions to Form S-8). 

ARTICLE 20. Unfunded Status of Plan 

It is presently intended that the Plan constitute an “unfunded” plan for incentive and deferred compensation. The Committee may
authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to deliver Common Stock or make payments; provided, however, that unless the Committee otherwise determines, the existence of such trusts or
other arrangements shall be consistent with the “unfunded” status of the Plan. 
  

 12 

 ARTICLE 21. Miscellaneous 

21.1. Subsidiary Employees. In the case of a grant of an Award to an employee or consultant of any Subsidiary of the Company,
the Company may, if the Committee so directs, issue or transfer the shares of Common Stock, if any, covered by the Award to the Subsidiary, for such lawful consideration as the Committee may specify, upon the condition or understanding that the
Subsidiary will transfer the shares of Common Stock to the employee or consultant in accordance with the terms of the Award specified by the Committee pursuant to the provisions of the Plan. All shares of Common Stock underlying Awards that are
forfeited or canceled revert to the Company. 
 21.2. Foreign Employees and Foreign Law Considerations. The
Committee may grant Awards to individuals who are eligible to participate in the plan who are foreign nationals, who are located outside the United States or who are not compensated from a payroll maintained in the United States, or who are
otherwise subject to (or could cause the Company to be subject to) legal or regulatory provisions of countries or jurisdictions outside the United States, on such terms and conditions different from those specified in the Plan as may, in the
judgment of the Committee, be necessary or desirable to foster and promote achievement of the purposes of the Plan, and, in furtherance of such purposes, the Committee may make such modifications, amendments, procedures, or subplans as may be
necessary or advisable to comply with such legal or regulatory provisions. 
 21.3. Limitation on Dividend Reinvestment
and Dividend Equivalents. Reinvestment of dividends in additional Restricted Stock at the time of any dividend payment, and the payment of Shares with respect to dividends to Participants holding Awards of Restricted Stock Units, shall only be
permissible if sufficient Shares are available under Section 4 for such reinvestment (taking into account then outstanding Options and other Awards). 

ARTICLE 22. Legal Construction 

22.1. Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include
the feminine; the plural shall include the singular and the singular shall include the plural. 

22.2. Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or
invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

22.3. Requirements of Law. The granting of Awards and the issuance of Shares under the Plan shall be subject to all
applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. With respect to Insiders, transactions under this Plan are intended to comply with all applicable
conditions of Rule 16b-3 or its successors under the Exchange Act. To the extent any provision of the Plan or action by the Committee fails to comply with this Section 22.3, it shall be deemed null and void, to the extent permitted by law and
deemed advisable by the Committee. 
 Notwithstanding any other provision of the Plan or agreements made pursuant thereto, the Company shall not
be required to issue or deliver any certificate or certificates for Shares or uncertificated forms of Shares under the Plan prior to fulfillment of all of the following conditions: 

(a) Listing or approval for listing upon notice of issuance, of such Shares on the New York Stock Exchange, Inc., or such other
securities exchange as may at the time be the principal market for the Shares; 
 (b) Any registration or other
qualification of such Shares under any state or federal law or regulation, or the maintaining in effect of any such registration or other qualification which the Committee shall, in its absolute discretion upon the advice of counsel, deem necessary
or advisable; and 
 (c) Obtaining any other consent, approval, or permit from any state or federal governmental agency
which the Committee shall, in its absolute discretion after receiving the advice of counsel, determine to be necessary or advisable. 

22.4. Governing Law. To the extent not preempted by federal law, the Plan, and all agreements hereunder, shall be construed
in accordance with and governed by the laws of the State of Delaware. 
  

 13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00173-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00173-of-00352.parquet"}]]