Document:

Fee Continuation Agreement with P. Mike Taylor

 Exhibit 10.28 
 DIRECTOR FEE CONTINUATION AGREEMENT 
 THIS AGREEMENT, made and entered into this First Day of
January, 2003, by and between AmericanWest Bank, a bank organized and existing under the laws of the State of Washington (hereinafter referred to as the “Bank”), and P. Mike Taylor, a member of the Board of Directors of the Bank
(hereinafter referred to as the “Director”). 
 WITNESSETH: 
 WHEREAS, it is the consensus of the Board of Directors (hereinafter referred to as the “Board”) that the Director’s services to the Bank
in the past have been of exceptional merit and have constituted an invaluable contribution to the general welfare of the Bank and in bringing it to its present status of operating efficiency, and its present position in its field of activity;

 WHEREAS, the Director’s experience, knowledge of the affairs of the Bank, reputation, and contacts in the industry are so valuable
that assurance of the Director’s continued services is essential for the future growth and profits of the Bank and it is in the best interests of the Bank to arrange terms of continued service for the Director so as to reasonably assure the
Director’s remaining in the Bank’s service during the Director’s lifetime or until the age of retirement; 
 WHEREAS, it is
the desire of the Bank that the Director’s services be retained as herein provided; 
 WHEREAS, the Director is willing to continue to
serve the Bank provided the Bank agrees to pay the Director of the Director’s beneficiary(ies), certain benefits in accordance with the terms and conditions hereinafter set forth; 
 ACCORDINGLY, it is the desire of the Bank and the Director to enter into this Agreement under which the Bank will agree to make certain payments to the
Director at retirement or the Director’s beneficiary(ies) in the event of the Director’s death pursuant to this Agreement; 
 FURTHERMORE, it is the intent of the parties hereto that this Director Plan be considered an unfunded arrangement maintained primarily to provide supplemental retirement benefits for the Director, and to be considered a non-qualified
benefit plan for purposes of the Employee Retirement Security Act of 1974, as amended (“ERISA”). The Director is fully advised of the Bank’s financial status and has had substantial input in the design and operation of this benefit
plan; and 
 NOW, THEREFORE, in consideration of services performed in the past and to be performed in the future as well as of the mutual
promises and covenants herein contained it is agreed as follows: 

	I.	SERVICE 

 The Director will continue to serve the
Bank in such capacity and with such duties and responsibilities as may be assigned, and with such compensation as may be determined from time to time by the Board of Directors of the Bank. 
  

	II.	FRINGE BENEFITS 

 The fee continuation benefits
provided by this Agreement are granted by the Bank as a fringe benefit to the Director and are not part of any fee reduction plan or an arrangement deferring a bonus or a fee increase. The Director has no option to take any current payment or bonus
in lieu of these fee continuation benefits except as set forth hereinafter. 
  

	III.	RETIREMENT DATE AND NORMAL RETIREMENT AGE 

  

	 	A.	Retirement Date: 

 If the Director continuously
serves the Bank, the Director shall be eligible to retire from active service with the Bank on January 1, 2010 and receive the benefits described below, unless by action of the Board of Directors this period of active service shall be shortened
or extended. 
  

	 	B.	Normal Retirement Age: 

 Normal Retirement Age shall
mean the date on which the Director attains age sixty-five (65). 
  

	IV.	RETIREMENT BENEFIT AND POST-RETIREMENT DEATH BENEFIT 

 Upon said retirement, the Bank, commencing with the first day of the month following the date of such retirement, shall pay the Director a monthly benefit of five hundred dollars ($500). Said benefit shall be paid for a period of one
hundred twenty (120) months; provided, that if less than one hundred twenty (120) such monthly payments have been made prior to the death of the Director, the Bank shall either, at the discretion of the Bank, continue such monthly payments
to the individual or individuals the Director may have designated in writing and filed with the Bank until the full number of one hundred twenty (120) monthly payments have been made, or make the total amount of said payments due in a lump sum*
reduced to present value as set forth in Subparagraph XI (K) to said beneficiary(ies). In the absence of any effective beneficiary designation, any such amounts becoming due and payable upon the death of the Director shall be payable to the
duly qualified executor or administrator of the Director’s estate. Said payments due hereunder shall begin the first day of the second month following the decease of the Director. 
  

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	V.	DEATH BENEFIT PRIOR TO RETIREMENT 

 In the event the
Director should die while actively serving the Bank at any time after the date of this Agreement but prior to January 1, 2010 (or such later date as may be agreed upon), the Bank will pay a monthly benefit of Five Hundred Dollars ($500) for a
period of One Hundred Twenty (120) months, or at the discretion of the Bank, a lump sum* reduced to present value as set forth in Subparagraph XI (K), to such individual or individuals as the Director may have designated in writing and filed
with the Bank. In the absence of any effective beneficiary designation, any such amounts becoming due and payable upon the death of the Director shall be payable to the duly qualified executor or administrator of the Director’s estate. Said
payments due hereunder shall begin the first day of the second month following the decease of the Director. 
  

	VI.	BENEFIT ACCOUNTING 

 The Bank shall account for this
benefit using the regulatory accounting principles of the Bank’s primary federal regulator. The Bank shall establish an accrued liability retirement account for the Director into which appropriate reserves shall be accrued. 
  

	VII.	VESTING 

 Director’s interest in the benefits
that are the subject of this Agreement shall be subject to a vesting schedule described in Schedule A. 
  

	VIII.	OTHER TERMINATION OF SERVICE 

 Subject to
Subparagraph VIII (i) hereinbelow, in the event that the service of the Director shall terminate prior to January 1, 2010 by the Director’s voluntary action, or by the Director’s discharge by the Bank without cause, then this
Agreement shall terminate upon the date of such termination of service and the Bank shall pay to the Director the vested percentage of benefits earned as of the date of termination. Such benefits shall be payable commencing on the Retirement Date
described above. 
 In the event the Director’s death should occur after such severance but prior to the completion of the monthly
payments provided for in this Paragraph VIII, the remaining installments, or a lump sum*, at the discretion of the Bank, shall be paid to such individual or individuals as the Director may have designated in writing and filed with the Bank. In the
absence of any effective beneficiary designation, any such amounts shall be payable to the duly qualified executor or administrator of the Director’s estate. Said payments due hereunder shall begin the first day of the second month following
the decease of the Director. 
 (i) Discharge for Cause: In the event the Director shall be discharged or removed from the Board for
cause at any time, all benefits provided 

  

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herein shall be forfeited. The term “for cause” shall mean any of the following: (i) gross negligence or gross neglect; (ii) the
commission of a felony or gross misdemeanor involving moral turpitude, fraud, or dishonesty; (iii) the willful violation of any law, rule or regulation (other than a traffic violation or similar offense); (iv) an intentional failure to
perform state duties; or (v) a breach of fiduciary duty involving personal profit. If a dispute arises as to discharge “for cause,” such dispute shall be resolved by arbitration as set forth in this Director Plan. 
  

	IX.	CHANGE OF CONTROL 

 The term “Change in
Control” shall mean: (i) any merger or consolidation of the Bank in which the Bank is not the surviving corporation, and any merger or consolidation of the Bank’s parent company in which the parent company is not the surviving
corporation; (ii) any sale, exchange, transfer or other disposition (in one transaction or a series of transactions) of any assets of the Bank or its parent company having an aggregate fair market value of more than 50% of the total value of
the assets of the Bank or such parent company; or (iii) any person (as such term is used in sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes a beneficial owner, directly or indirectly, of the Bank or its parent
company representing more than 50% of the Bank’s or such parent company’s then outstanding voting stock. 
  

	X.	RESTRICTIONS ON FUNDING 

 The Bank shall have no
obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Director Plan. The Directors, their beneficiary(ies), or any successor in interest shall be and remain simply a general creditor of the Bank
in the same manner as any other creditor having a general claim for matured and unpaid compensation. 
 The Bank reserves the absolute right,
at its sole discretion, to either fund the obligations undertaken by this Director Plan or to refrain from funding the same and to determine the extent, nature and method of such funding. Should the Bank elect to fund this Director Plan, in whole or
in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall any Director
be deemed to have any lien or right, title or interest in or to any specific funding investment or assets of the Bank. 
 If the Bank elects
to invest in a life insurance, disability or annuity policy upon the life of the Director, then the Director shall assist the Bank by freely submitting to a physical exam and supplying such additional information necessary to obtain such insurance
or annuities. 
  

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	XI.	MISCELLANEOUS 

  

	 	A.	Status as an Unsecured General Creditor: 

 Notwithstanding anything contained herein to the contrary: (i) neither the Director, the Director’s spouse of the Director’s designated beneficiaries shall have any legal or equitable rights, interests, or claims in or to any
specific property or assets of the Bank as a result of this Agreement; (ii) none of the Bank’s assets shall be held in or under any trust for the benefit of the Director, the Director’s spouse or the Director’s designated
beneficiaries or held in any way as security for the fulfillment of the obligations of the Bank under this Agreement; (iii) all of the Bank’s assets shall be and remain the general unpledged and unrestricted assets of the Bank;
(iv) the Bank’s obligation under this Agreement shall be that of an unfunded and unsecured promise by the Bank to pay money in the future; and (v) the Director, the Director’s spouse and the Director’s designated
beneficiaries shall be unsecured general creditors with respect to any benefits which may be payable under the terms of this Agreement. 
 Notwithstanding the above, the Director and the Bank acknowledge and agree that, in the event of a Change in Control and at the written request of the Director, the Bank shall establish, not later than the effective date of the Change in
Control, a Rabbi Trust or multiple Rabbi Trusts (the “Trust” or “Trusts”) upon such terms and conditions as the Bank in its sole discretion deems appropriate and in compliance with applicable provisions of the Code in order to
permit the Bank to make contributions and/or transfer assets to the Trust or Trusts to discharge its obligations pursuant to this Agreement. The principal of the Trust or Trusts and any earnings thereon shall be held separate and apart from other
funds of the Bank to be used exclusively for discharge of the Bank’s obligations pursuant to this Agreement and shall continue to be subject to the claims of the Bank’s general creditors until paid to the Director or his beneficiaries in
such manner and at such times as specified in this Agreement. 
  

	 	B.	Binding Obligation of the Bank and any Successor in Interest: 

 The Bank shall not merge or consolidate into or with another bank or sell substantially all of its assets to another bank, firm or person until such bank, firm or person expressly agree, in writing, to assume and
discharge the duties and obligations of the Bank under this Director Plan. This Director Plan shall be binding upon the parties hereto, their successors, beneficiaries, heirs and personal representatives. 
  

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	 	C.	Amendment or Revocation: 

 Subject to Paragraph
XIII, it is agreed by and between the parties hereto that, during the lifetime of the Director, this Director Plan may be amended or revoked at any time or times, in whole or in part, by the mutual written consent of the Director and the Bank.

  

	 	D.	Gender: 

 Whenever in this Director Plan words are
used in the masculine or neuter gender, they shall be read and construed as in the masculine, feminine or neuter gender, whenever they should so apply. 
  

	 	E.	Effect on Other Bank Benefit Plans: 

 Nothing
contained in this Director Plan shall affect the right of the Director to participate in or be covered by any qualified or non-qualified pension, profit sharing, group, bonus or other supplemental compensation or fringe benefit plan constituting a
part of the Bank’s existing or future compensation structure. 
  

	 	F.	Headings: 

 Headings and subheadings in this
Director Plan are inserted for reference and convenience only and shall not be deemed a part of this Director Plan. 
  

	 	G.	Applicable Law: 

 The validity and interpretation of
this Agreement shall be governed by the laws of the State of Washington. 
  

	 	H.	12 U.S.C § 1828(k): 

 Any payments made to the
Director pursuant to this Director Plan, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. § 1828(k) or any regulations promulgated thereunder. 
  

	 	I.	Partial Invalidity: 

 If any term, provision,
covenant, or condition of this Director Plan is determined by an arbitrator or a court, as the case may be, to be invalid, void, or unenforceable, such determination shall not render any other term, provision, covenant, or condition invalid, void,
or unenforceable, and the Director Plan shall remain in full force and effect notwithstanding such partial invalidity. 
  

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	 	J.	Continuation as Director: 

 Neither this Agreement
nor the payments of any benefits hereunder shall be construed as giving to the Director any right to be retained as a member of the Board of Directors of the Bank. 
  

	 	K.	Present Value: 

 All present value calculations
under this Agreement shall be based on the following discount rate: 
  

			
	Discount Rate:	  	The discount rate as used in the FASB 87 calculations for the Executive plan.

  

	XII.	ERISA PROVISION 

  

	 	A.	Named Fiduciary and Plan Administrator: 

 The
“Named Fiduciary and Plan Administrator” of this Director Plan shall be AmericanWest Bank until its resignation or removal by the Board. As Named Fiduciary and Plan Administrator, the Bank shall be responsible for the management, control
and administration of the Director Plan. The Named Fiduciary may delegate to others certain aspects of the management and operation responsibilities of the Director Plan including the employment of advisors and the delegation of ministerial duties
to qualified individuals. 
  

	 	B.	Claims Procedure and Arbitration: 

 In the event a
dispute arises over benefits under this Director Plan and benefits are not paid to the Director (or to the Director’s beneficiary(ies) in the case of the Director’s death) and such claimants feel they are entitled to receive such benefits,
then a written claim must be made to the Named Fiduciary and Plan Administrator named above within sixty (60) days from the date payments are refused. The Named Fiduciary and Plan Administrator shall review the written claim and if the claim is
denied, in whole or in part, it shall provide in writing within sixty (60) days of receipt of such claim its specific reasons for such denial, reference to the provisions of this Director Plan upon which the denial is based and any additional
material or information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired. A claim shall be deemed denied if the Named
Fiduciary and Plan Administrator fail to take any action within the aforesaid sixty-day period. 
 If claimants desire a second review they
shall notify the Named Fiduciary and Plan Administrator in writing within sixty (60) days of the first claim denial. Claimants may review this Director Plan or any documents 

  

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relating thereto and submit any written issues and comments it may feel appropriate. In their sole discretion, the Named Fiduciary and Plan Administrator
shall then review the second claim and provide a written decision within sixty (60) days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of
the Plan Agreement upon which the decision is based. 
 If claimants continue to dispute the benefit denial based upon completed performance
of this Director Plan or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to an arbitrator for final arbitration. The arbitrator shall be selected by mutual agreement of the Bank and the claimants.
The arbitrator shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision of such arbitrator with respect
to any controversy properly submitted to it for determination. 
 Where a dispute arises as to the Bank’s discharge of the Director
“for cause,” such dispute shall likewise be submitted to arbitration as above described and the parties hereto agree to be bound by the decision thereunder. 
  

	XIII.	TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OF CHANGES IN THE LAW, RULES OR REGULATIONS 

 The Bank is entering into this Agreement upon the assumption that certain existing tax laws, rules and regulations will continue in effect in their
current form. If any said assumptions should change and said change has a detrimental effect on this Director Plan, then the Bank reserves the right to terminate or modify this Agreement accordingly. Upon Change of Control (Paragraph IX), this
paragraph shall become null and void effective immediately upon said Change of Control. 
  

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 IN WITNESS WHEREOF, the parties hereto acknowledge that each has carefully read this Agreement and
executed the original thereof on the first day set forth hereinabove, and that, upon execution, each has received a conforming copy. 
  

					
		 	 AMERICANWEST BANK
 Spokane, Washington

		 
			
	 /s/ Evelyn Dugger
  
	 	 By:
	 	 /s/ Wes Colley
  

	 Witness
	 		 	 Wes Colley

		 		 	 President and CEO

			
	 /s/ Jacqueline A. Barnard
  
	 		 	 /s/ P. Mike Taylor
  

	 Witness
	 		 	 P. Mike Taylor, Director

  

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 SCHEDULE A 
 VESTING SCHEDULE 
  

				
	 End of Calendar Year
	  	 Vested
 Percentage
	 
	 December 31, 2002
	  	40	%
	 December 31, 2003
	  	10	%
	 December 31, 2004
	  	10	%
	 December 31, 2005
	  	10	%
	 December 31, 2006
	  	10	%
	 December 31, 2007
	  	10	%
	 December 31, 2008
	  	10	%

  

 10Amended and Restated Incentive Stock Option and Nonstatutory Stock Option Plan

 EXHIBIT 10.23 
 EMBREX, INC. 
 AMENDED AND RESTATED 
 INCENTIVE STOCK OPTION 
 AND NONSTATUTORY STOCK OPTION PLAN 
 (Re-adopted May 16, 2002 and most recently amended and restated February 6, 2006) 
 1. Purpose  
 The purpose of this Incentive Stock Option and Nonstatutory Stock Option
Plan (hereinafter referred to as the “Plan”) is to provide a special incentive to selected individuals (“Participants”) who have made significant contributions to the business of Embrex, Inc. (hereinafter referred to as the
“Company”). The Plan is designed to accomplish this purpose by offering such individuals an opportunity to acquire shares of the Common Stock of the Company so that they will share in the Company’s future growth and success. Options,
stock awards, Restricted Stock Units and Stock Appreciation Rights may be awarded under this Plan and are collectively referred to herein as “awards.” 
 2. Administration and Types of Awards  
 (a) Administration. The Plan shall be administered by a
Compensation Committee (the “Committee”) to be established by the Board of Directors of the Company (the “Board”). To the extent that the Board determines it to be desirable to qualify awards granted hereunder as
“performance-based compensation” within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), or to qualify transactions hereunder as exempt under Rule 16b-3 under Section 16(b) of
the Securities Exchange Act of 1934, as amended (the “1934 Act”), the Compensation Committee shall consist, as applicable, of two or more “outside directors” within the meaning of Section 162(m) or two or more
“non-employee directors” within the meaning of Rule 16b-3. The Committee shall have authority, consistent with the Plan, 
 (1) to
grant awards pursuant to this Plan; 
 (2) to determine which individuals shall be granted awards; 
 (3) to determine the time or times when awards shall be granted and the number of shares of Common Stock to be subject to each award; 
 (4) to determine the type of award, including the type of option, to be granted pursuant to this Plan; 
 (5) to determine the price of the shares subject to each award and the method of payment of such price, as applicable; 

 (6) to determine the time or times when each award becomes exercisable and the duration of the exercise
period, as applicable; 
 (7) to prescribe the form or forms of the instruments evidencing any awards granted under the Plan and of any other
instruments required under the Plan and to change such forms from time to time; 
 (8) to adopt, amend and rescind rules and regulations for
the administration of the Plan and awards granted hereunder and for its own acts and proceedings; and 
 (9) to decide all questions and
settle all controversies and disputes which may arise in connection with the Plan. All decisions, determinations and interpretations of the Committee shall be binding on all parties concerned. 
 (b) Types of Options. Pursuant to this Plan, the Company is authorized to grant two types of options: “incentive stock options”
within the meaning of Section 422 of the Code and nonstatutory stock options. 
 (c) Stock Awards. Pursuant to this Plan,
the Company is authorized to award compensation in the form of stock awards. Stock awards shall be settled in shares of Common Stock of the Company. 
 (d) Restricted Stock Units. Pursuant to this Plan, the Company is authorized to grant Restricted Stock Units. Restricted Stock Units shall be settled in shares of Common Stock of the Company. 

(e) Stock Appreciation Rights. Pursuant to this Plan, the Company is authorized to grant Stock Appreciation Rights. Stock Appreciation
Rights shall be settled in shares of Common Stock of the Company. 
 3. Participants 
 (a) Incentive Stock Options. Incentive stock options shall be granted only to Participants who are, at the time of grant, employees of the
Company or of any Parent Corporation or Subsidiary. No Participant shall be granted any incentive stock option under the Plan who, at the time such option is granted, owns, directly or indirectly, Common Stock of the Company possessing more than 10%
of the total combined voting power of all classes of stock of the Company or of any Parent Corporation or Subsidiary, unless the requirements of paragraph (4)(ii) of Section 7(a) are satisfied. A Participant who has been granted an
incentive stock option may, if he or she is otherwise eligible, be granted an additional option or options if the Board shall so determine. 
 (b) Nonstatutory Stock Options. Nonstatutory stock options may be granted to Participants who are, at the time of grant, employees, officers, directors, consultants or advisors of the Company or of any Parent Corporation or
Subsidiary or any other parties who have made a significant contribution to the business and success of the Company, as may be selected from 

  

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time to time by the Board or Committee in its discretion. A Participant who has been granted a nonstatutory stock option may, if he or she is otherwise
eligible, be granted an additional option or options if the Board shall so determine. 
 (c) Stock Awards, Restricted Stock Units and
Stock Appreciation Rights. Stock awards, Restricted Stock Units and Stock Appreciation Rights shall be granted, in the sole discretion of the Board or Committee, to Participants who are, at the time of grant, employees, officers, directors,
consultants or advisors of the Company or any Parent Corporation or Subsidiary of the Company, or any other parties who have made a significant contribution to the business and success of the Company. 
 4. Stock Subject to the Plan  
 Subject to
adjustment as provided in Section 17 of the Plan, the maximum number of shares of Common Stock of the Company which may be issued and sold under the Plan is Three Million Four Hundred Thousand (3,400,000) shares. Such shares may be
authorized and unissued shares or may be shares issued and thereafter acquired by the Company. If an award granted under the Plan shall expire or terminate for any reason without having been exercised or settled in full, the shares subject to such
award shall again be available for subsequent grants under the Plan. Stock issuable upon exercise of an award granted under the Plan may be subject to such restrictions on transfer, repurchase rights or other restrictions as shall be determined by
the Board or the Committee. 
 5. Forms of Option Agreements  
 As a condition to the grant of any award under the Plan, each recipient of an award shall execute an agreement in a form not inconsistent with the Plan as shall be specified by the Board or the Committee at the time
such award is authorized to be granted. 
 6. Annual Limitations 
 The following limitations shall apply to grants of options: 
 (a) No Participant shall be granted, in
any fiscal year of the Company, options to purchase more than 300,000 shares of Common Stock. 
 (b) In connection with his or her
initial service, a Participant may be granted options to purchase up to an additional 300,000 shares of Common Stock which shall not count against the limit set forth in Section 6(a) above. 
 (c) The foregoing limitations shall be adjusted proportionately in connection with any change in the Company’s capitalization as described in
Section 17 hereof. 
 (d) If an option is canceled in the same fiscal year of the Company in which it was granted (other than in
connection with a transaction described in Section 18) hereof, the canceled option will be counted against the limits set forth in Section 6(a) and Section 6(b) above. For this purpose, if the exercise price of an option is reduced,
the transaction will be treated as a cancellation of the option and the grant of a new option. 
  

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 7. Terms and Conditions of Options  
 All options granted under the Plan shall be subject to the following terms and conditions (except as provided in Section 11 hereof) and to such other
terms and conditions as the Board or Committee shall determine to be appropriate to accomplish the purposes of the Plan: 
 (a)
Incentive Stock Options  
 (1) Purchase Price. The purchase price per share of stock deliverable upon exercise of an
option shall be determined by the Board or Committee on the date such option is granted; provided, however, that the exercise price shall not be less than 100% of the fair market value of such stock, as determined by the Board, at the grant of such
option, or less than 110% of such fair market value in the case of options described in paragraph (4)(ii) of Section 7(a) hereof. 
 (2) Option Period. Each option shall expire on such date as the Board or the Committee shall determine on the date such option is granted, but in no event after the expiration of ten years from the day on which the option is
granted (or five years in the case of options described in paragraph (4)(ii) of Section 7(a) hereof), and shall be subject to earlier termination as provided in the Plan. 
 (3) Termination of Employment. No option may be exercised unless, at the time of such exercise, the Participant is, and has been, since the
date of grant of his or her option, continuously employed by one or more of the Company, a Parent Corporation or a Subsidiary, except that if and to the extent the option agreement or instrument so provides: 
 (i) the option may be exercised within such period of time as is specified in the option agreement to the extent that the option is vested on the date of
termination (but in no event later than the expiration of the term of such option as set forth in the option agreement). In the absence of a specified time in the option agreement, the option shall remain exercisable for three (3) months
following the Participant’s termination; 
 (ii) if the Participant dies while in the employ of the Company, a Parent Corporation or a
Subsidiary or within three months after the Participant ceases to be such an employee, the option may be exercised within such period of time as is specified in the option agreement to the extent that the option is vested on the date of death (but
in no event later than the expiration of the term of such option as set forth in the option agreement) by the Participant’s estate or by a person who acquires the right to exercise the option by bequest or inheritance. In the absence of a
specified time in the option agreement, the option shall remain exercisable for twelve (12) months following the Participant’s death; and 
 (iii) if the Participant becomes disabled (within the meaning of Section 22(e)(3) of the Code) while in the employ of the Company, a Parent Corporation or Subsidiary, and ceases to be an employee as a result of
such disability (a “Disability”), the Participant may 

  

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exercise his or her option within such period of time as is specified in the option agreement to the extent the option is vested on the date of termination,
but in no event later than the expiration date of the term of such option as set forth in the option agreement. In the absence of a specified time in the option agreement, the option shall remain exercisable for twelve (12) months following the
Participant’s termination; 
 (iv) if the Participant ceases his or her employment with the Company, a Parent Corporation or Subsidiary
because he or she is discharged for cause, the right to exercise the option shall terminate immediately upon such cessation of employment; provided, however, that in no event may any option be exercised after the expiration date of the option nor
may any option be exercised to an extent greater than that exercisable on the last day of the Participant’s employment. For all purposes of the Plan and any award granted hereunder, “employment” shall be defined in accordance with the
provisions of Section 1.421-7(h) of the Income Tax Regulations (or any successor regulations). 
 (4) Limitations.

 (i) Dollar Limitation. The aggregate fair market value (determined as of the respective date or dates of grant) of the
Common Stock with respect to which incentive stock options granted to any employee under the Plan (and under any other incentive stock option plans of the Company, and any Parent Corporation and Subsidiary) are exercisable for the first time shall
not exceed $100,000 in any one calendar year. In the event that Section 422 of the Code is amended to alter the limitation set forth therein so that following such amendment such limitation shall differ from the limitation set forth in this
paragraph, the limitation of this paragraph shall be automatically adjusted accordingly. 
 (ii) Ten Percent Shareholder. If
any employee to whom an option is to be granted under the Plan is at the time of the grant of such option the owner of stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of any Parent
Corporation or any Subsidiary, then the following special provisions shall be applicable to the option granted to such individual: the purchase price per share of the Common Stock subject to such option shall not be less than 110% of the fair market
value of one share of Common Stock at the time of grant and the option exercise period shall not exceed five years from the date of grant. 
 (b) Nonstatutory Stock Options  
 (1) Purchase Price. The purchase price per share of stock deliverable
upon exercise of an option shall be determined by the Board or Committee on the date such option is granted; provided, however, that the exercise price shall not be less than one hundred percent (100%) of the fair market value of such stock, as
determined by the Board or Committee, at the grant of such option. 
 (2) Option Periods. The period of an option shall not
exceed ten years from the date of grant. 
  

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 (3) Termination of Service. No option may be exercised unless, at the time of such
exercise, the Participant is, and has been continuously since the date of grant of his or her option, providing services to one or more of the Company, a Parent Corporation or a Subsidiary, except that if and to the extent the option agreement or
instrument so provides: 
 (i) the option may be exercised within such period of time as is specified in the option agreement to the extent
that the option is vested on the date of termination (but in no event later than the expiration of the term of such option as set forth in the option agreement). In the absence of a specified time in the option agreement, the option shall remain
exercisable for three (3) months following the Participant’s termination; 
 (ii) if the Participant dies while providing services
to the Company, a Parent Corporation or a Subsidiary or within three months after the Participant ceases to provide such services, the option may be exercised within such period of time as is specified in the option agreement to the extent that the
option is vested on the date of death (but in no event later than the expiration of the term of such option as set forth in the option agreement) by the Participant’s estate or by a person who acquires the right to exercise the option by
bequest or inheritance. In the absence of a specified time in the option agreement, the option shall remain exercisable for twelve (12) months following the Participant’s death; and 
 (iii) if the Participant ceases to provide services to the Company, a Parent Corporation or Subsidiary as a result of a Disability, the Participant may
exercise his or her option within such period of time as is specified in the option agreement to the extent the option is vested on the date of termination, but in no event later than the expiration date of the term of such option as set forth in
the option agreement. In the absence of a specified time in the option agreement, the option shall remain exercisable for twelve (12) months following the Participant’s termination; 
 (iv) if the Participant ceases to provide services to the Company, a Parent Corporation or Subsidiary because he or she is discharged for cause, the
right to exercise the option shall terminate immediately upon such termination; provided, however, that in no event may any option be exercised after the expiration date of the option nor may any option be exercised to an extent greater than that
exercisable on the last day of the Participant’s service. 
 8. Exercise of Options  
 (a) Exercisability. Each option granted under the Plan shall be exercisable either in full or in installments at such time or times, and
during such period, as shall be set forth in the agreement evidencing such option; provided, however, that no option granted under the Plan shall have a term in excess of ten years from the date of grant. 
 (b) Manner of Exercise; Consideration. A person electing to exercise an option shall give written notice to the Company, as specified by
the Board or Committee, of his election and of the number of shares he/she has elected to purchase, such notice to be accompanied by such instruments or documents as may be required by the Board or Committee, and unless otherwise directed by the
Board or Committee shall at the time of such exercise tender the 

  

 6 

 
purchase price in cash of the shares he/she has elected to purchase. For all nonstatutory stock options granted prior to April 30, 1998 and for all
nonstatutory and all incentive stock options issued after April 30, 1998, payment of the purchase price of the shares may be made, at the discretion of the Participant, and to the extent permitted by the Board or Committee, (i) in cash,
(ii) in Common Stock of the Company (valued at the fair market value thereof on the date of exercise) through the surrender of previously held shares of Common Stock of the Company (by delivery of stock certificates in negotiable form),
(iii) by a combination of cash and Common Stock of the Company or (iv) with any other consideration (including payment in accordance with a cashless exercise program under which, if so authorized by the Participant, shares of Common Stock
of the Company may be issued directly to the Participant’s broker or dealer upon receipt of the purchase price in cash from the broker or dealer). 
 9. Limitations on Issuance of Shares. 
 The Company shall not be obligated to issue any shares unless and until, in
the opinion of the Company’s counsel, all applicable laws and regulations have been complied with, nor, in the event the outstanding Common Stock is at the time listed upon any stock exchange, unless and until the shares to be issued have been
listed or authorized to be added to the list upon official notice of issuance upon such exchange, nor unless or until all other legal matters in connection with the issuance and delivery of shares have been approved by the Company’s counsel.
Without limiting the generality of the foregoing, the Company may require from the Participant such investment representation or such agreement, if any, as counsel for the Company may consider necessary in order to comply with the Securities Act of
1933 as then in effect, and may require that the Participant agree that any sale of the shares will be made only in such manner as is permitted by the Board or Committee and that the Participant will notify the Company when he/she intends to make
any disposition of the shares whether by sale, gift or otherwise. The Participant shall take any action reasonably requested by the Company in such connection. A Participant shall have the rights of a shareholder only as to shares actually acquired
by him/her under the Plan. 
 10. Nontransferability of Options  
 Unless determined otherwise by the Committee, an option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may
be exercised, during the lifetime of the Participant, only by the Participant. If the Committee makes an option transferable, such option shall contain such additional terms and conditions as the Committee deems appropriate. 
 11. Replacement Options  
 The Company may
grant options under the Plan on terms differing from those provided for in Section 7 where such options are granted in substitution for options held by employees of other corporations who concurrently become employees of the Company or a
Subsidiary as the result of a merger, consolidation or other reorganization of the employing corporation with the Company or Subsidiary, or the acquisition by the Company or a Subsidiary of the business, property or stock of the employing
corporation. The Committee may direct that the substitute options be granted on such terms and conditions as the Board or Committee considers appropriate in the circumstances. 
  

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 12. Stock Awards  
 Stock awards are awards payable to Participants in shares of Common Stock. Stock awards may be granted either alone or in addition to cash awards. The Board or the Committee, in its sole discretion, shall determine
eligibility, the number of shares covered by stock awards and all other terms and conditions of stock awards, which need not be identical with respect to all stock awards. 
  

	13.	Restricted Stock Units 

 (a) Grants of
Restricted Stock Units. A Restricted Stock Unit shall entitle the Participant to receive one share of Common Stock at such future time and upon such terms as specified by the Board or the Committee in the agreement evidencing such award (the
“Restricted Stock Unit Agreement”). The Board or the Committee may grant Restricted Stock Units that vest on the service of the Participant or on the attainment of performance goals determined by the Board or the Committee. 
 (b) Vesting of Restricted Stock Units. The Committee shall establish the vesting schedule applicable to Restricted Stock Units and shall
specify the vesting and/or performance goal requirements in the Restricted Stock Unit Agreement. Until the end of the period(s) of time specified in the vesting schedule and/or the satisfaction of any performance criteria, the Restricted Stock Units
shall remain subject to forfeiture. 
 (c) Exercise. The terms and conditions of exercise of Restricted Stock Units shall be
determined by the Committee and shall be set forth in the Restricted Stock Unit Agreement. As determined by the Committee, exercise of Restricted Stock Units may occur automatically upon vesting or may occur in conjunction with an election by the
Participant to defer receipt of shares subject to the Restricted Stock Unit. 
 (d) Restricted Stock Unit Agreement. Each grant
of Restricted Stock Unit(s) shall be evidenced by a Restricted Stock Unit Agreement that shall specify the terms, conditions and restrictions regarding the Participant’s right to receive share(s) in the future, and shall incorporate such other
terms and conditions as the Board or Committee, acting in its sole discretion, deems consistent with the terms of this Plan. 
 (e)
Non-Transferability of Restricted Stock Units. Unless determined by the Board or Committee, no Restricted Stock Unit granted under the Plan may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated by the holder
Participant, except upon the death of the holder Participant by will or by the laws of descent and distribution. 
 (f) Voting,
Dividend & Other Rights. Restricted Stock Units shall not entitle a Participant to vote or to receive dividends until the Participant becomes the owner of the shares subject to the Restricted Stock Units. 
  

 8 

 14. Stock Appreciation Rights 
 (a) Grant of Stock Appreciation Rights. A Stock Appreciation Right shall entitle the Participant to receive shares of Common Stock upon exercise equal to the excess of the fair market value of a share of
Common Stock at the time of exercise, over a specified price, which shall not be less than one hundred percent (100%) of the fair market value of the share, subject to the Stock Appreciation Right on the date the Stock Appreciation Right is
granted. 
 (b) Vesting of Stock Appreciation Rights. The Committee shall establish the vesting schedule applicable to Stock
Appreciation Rights and shall specify the times, vesting and performance goal requirements in the agreement evidencing such award (the “Stock Appreciation Rights Agreement”). Until the end of the period(s) of time specified in the vesting
schedule and/or the satisfaction of any performance criteria, the Stock Appreciation Rights shall remain subject to forfeiture. 
 (c) Exercise. Upon exercise of Stock Appreciation Rights, the Company shall issue to the Participant shares equal to the appreciation of the Stock Appreciation Rights. 
 (d) Termination of Service. No Stock Appreciation Right may be exercised unless, at the time of such exercise, the Participant is, and has
been, since the date of grant of his or her Restricted Stock Unit, continuously providing services to one or more of the Company, a Parent Corporation or a Subsidiary, except that if and to the extent the Stock Appreciation Rights Agreement or
instrument so provides: 
 (i) the Stock Appreciation Right may be exercised within such period of time as is specified in the Stock
Appreciation Right Agreement to the extent that the Stock Appreciation Right is vested on the date of termination (but in no event later than the expiration of the term of such Stock Appreciation Right as set forth in the Stock Appreciation Right
Agreement). In the absence of a specified time in the Stock Appreciation Right Agreement, the Stock Appreciation Right shall remain exercisable for three (3) months following the Participant’s termination; 
 (ii) if the Participant dies while providing services to the Company, a Parent Corporation or a Subsidiary or within three months after the Participant
ceases to provide such service, the Stock Appreciation Right may be exercised within such period of time as is specified in the Stock Appreciation Right Agreement to the extent that the Stock Appreciation Right is vested on the date of death (but in
no event later than the expiration of the term of such Stock Appreciation Right as set forth in the Stock Appreciation Right Agreement) by the Participant’s estate or by a person who acquires the right to exercise the Stock Appreciation Right
by bequest or inheritance. In the absence of a specified time in the Stock Appreciation Right Agreement, the Stock Appreciation Right shall remain exercisable for twelve (12) months following the Participant’s death; and 
 (iii) if the Participant ceases to provide service as a result of a Disability, the Participant may exercise his or her Stock Appreciation Right within
such period of time as is 

  

 9 

 
specified in the Stock Appreciation Right Agreement to the extent the Stock Appreciation Right is vested on the date of termination, but in no event later
than the expiration date of the term of such Restricted Stock Unit as set forth in the Stock Appreciation Right Agreement. In the absence of a specified time in the Stock Appreciation Right Agreement, the Stock Appreciation Right shall remain
exercisable for twelve (12) months following the Participant’s termination; 
 (iv) if the Participant ceases to provide services
to the Company, a Parent Corporation or Subsidiary because he or she is discharged for cause, the right to exercise the Stock Appreciation Right shall terminate immediately upon such cessation of services; provided, however, that in no event may any
Stock Appreciation Right be exercised after the expiration date of the Stock Appreciation Right nor may any Stock Appreciation Right be exercised to an extent greater than that exercisable on the last day of the Participant’s service.

 (e) Stock Appreciation Rights Agreement. Each grant of Stock Appreciation Rights shall be evidenced by a Stock Appreciation
Rights Agreement that shall specify the terms, conditions and restrictions regarding the Participant’s right to receive share(s) in the future, and shall incorporate such other terms and conditions as the Board or Committee, acting in its sole
discretion, deems consistent with the terms of this Plan. 
 (f) Non-Transferability of Stock Appreciation Rights. Except as
otherwise, no Stock Appreciation Right granted under the Plan may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, except upon the death of the holder Participant by will or by the laws of descent and distribution.

 (g) Voting, Dividend & Other Rights. Stock Appreciation Rights shall not entitle a Participant to vote or to
receive dividends until the Participant becomes the owner of the shares subject to the Stock Appreciation Rights. 
 15. General Restrictions 

 (a) Investment Representation. The Company may require any person to whom an award is granted, to give written assurances in
substance and form satisfactory to the Company to the effect that such person is acquiring the Common Stock subject to the award for his or her own account for investment and not with any present intention of selling or otherwise distributing the
same, and to such other effects as the Company deems necessary or appropriate in order to comply with Federal and applicable state securities laws. 
 (b) Compliance with Securities Laws. Each award shall be subject to the requirement that, if at any time counsel to the Company shall determine that the listing, registration or qualification of the shares subject to such
award upon any securities exchange or under any state or Federal law, or the consent or approval of any governmental or regulatory body, is necessary as a condition of, or in connection with, the issuance or purchase of shares thereunder, such award
may not be accepted or exercised in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained on conditions acceptable to the Board. Nothing herein shall be deemed to require the
Company to apply for or to obtain such a listing, registration or qualification. 
  

 10 

 16. Rights as a Shareholder  
 The holder of an award shall have no rights as a shareholder with respect to any shares covered by the award until the date of issue of a stock certificate to him or her for such shares. Except as otherwise expressly
provided in the Plan, no adjustments shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued. 
 17. Recapitalization  
 In the event that the outstanding shares of Common Stock of the Company are changed into or
exchanged for a different number or kind of shares or other securities of the Company by reason of any recapitalization, reclassification, stock split, stock dividend, combination or subdivision, appropriate adjustments shall be made in the number
and kind of shares available under the Plan and under any awards granted under the Plan. Such adjustments to outstanding awards shall be made without change in the total price applicable to the unexercised portion of such awards, and a corresponding
adjustment in the applicable option price per share shall be made. No such adjustment shall be made which would, within the meaning of any applicable provisions of the Code, constitute a modification, extension or renewal of any option or a grant of
additional benefits to the holder of an option or which would cause any incentive stock option to fail to continue to qualify as an incentive stock option within the meaning of Section 422 of the Code. 
 18. Reorganization  
 In case the Company is
merged or consolidated with another corporation and the Company is not the surviving corporation, or in case all or substantially all of the assets or more than 50% of the outstanding voting stock of the Company is acquired by any other corporation,
or in case of a reorganization or liquidation of the Company, the Board or the board of directors of any corporation assuming the obligations of the Company, shall, as to outstanding awards, either (i) make appropriate provisions for the
protection of any such outstanding awards by the substitution on an equitable basis of appropriate stock of the Company, or of the merged, consolidated or otherwise reorganized corporation which will be issuable in respect of the shares of Common
Stock of the Company, provided that no additional benefits shall be conferred upon Participants as a result of such substitution, and the excess of the aggregate fair market value of the shares subject to the awards immediately after such
substitution over the purchase price thereof shall not be more than the excess of the aggregate fair market value of the shares subject to such awards immediately before such substitution over the purchase price thereof, or (ii) provide written
notice to the Participants that all unexercised awards must be exercised within a specified number of days of the date of such notice or they will be terminated. In any such case, the exercise dates of outstanding awards shall automatically
accelerate and the awards shall become fully vested and exercisable as of the date of such notice and shall remain exercisable for such specified period of days thereafter. 
  

 11 

 19. No Special Rights  
 In the event the holder of an award is also an employee of, or has any other relationship with, the Company, nothing contained in this Plan or in any award granted under the Plan shall confer upon any holder of an
award any right with respect to the continuation of his or her employment or other relationship with the Company (or any Parent Corporation or Subsidiary), nor shall it interfere in any way with the right of the Company (or any Parent Corporation or
Subsidiary) at any time to terminate such employment or other relationship or to increase or decrease the compensation of the holder of the award from the rate in existence at the time of the grant of an award. Whether an authorized leave or
absence, or absence in military or governmental service, shall constitute termination or cessation of employment for purposes of this Plan shall be determined by the Board, except as regulated by law. 
 20. Definitions  
 (a)
Subsidiary. The term “Subsidiary” as used in the Plan shall mean any corporation in an unbroken chain of corporations beginning with the Company if each of the corporations other than the last corporation in the unbroken chain
owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
 (b) Parent Corporation. The term “Parent” and “Parent Corporation” as used in the Plan shall mean any corporation (other than the Company) in an unbroken chain of corporations ending with the Company if
each of the corporations other than the Company owns stock possessing 50% or more of the combined voting power of all classes of stock in one of the other corporations in such chain. 
 21. Amendment  
 The Board or the Committee may at any time discontinue granting awards under
the Plan. In addition, the Board may at any time and from time to time modify or amend the Plan in any respect, except that any modification or amendment of the Plan shall be subject to shareholder approval when applicable NASD rules or SEC or IRS
regulations would require such approval. The modification or amendment of the Plan shall not, without the consent of a Participant, affect his or her rights under an award previously granted to him or her; provided, however, that with the consent of
the Participant affected, the Board may amend outstanding awards in a manner not inconsistent with the Plan and, with respect to incentive stock options, the Board shall have the right to amend or modify the terms and provisions of the Plan and of
any such options outstanding granted under the Plan to the extent necessary to qualify any or all such options for favorable income tax treatment (including deferral of taxation upon exercise) as may be afforded incentive stock options under
Section 422 of the Code. 
  

 12 

 22. Withholding  
 The Company’s obligation to deliver shares upon the exercise of any award granted under the Plan shall be subject to the holder’s satisfaction of all applicable Federal, state and local tax withholding
requirements. 
 23. Section 16 Compliance  
 With respect to persons subject to Section 16 of the 1934 Act, transactions under this Plan are intended to comply with all applicable conditions of Rule 16b-3 or its successor rules under the 1934 Act. To the
extent that any provision of this Plan or action by the Committee or Board fails to so comply, such provision or action shall be deemed null and void to the extent permitted by law and deemed advisable by the Committee or Board. 
 24. Effective Date and Duration of the Plan  
 (a) Effective Date. The Plan shall become effective when adopted by the Board, but no award granted under the Plan shall become exercisable and no stock award shall be granted unless and until the Plan shall have been approved
by the Company’s shareholders. If such shareholder approval is not obtained within twelve months after the date of the Board’s adoption of the Plan, any awards previously granted under the Plan shall terminate and no further awards shall
be granted. Subject to this limitation, awards may be granted under the Plan at any time after the effective date and before the date fixed for termination of the Plan. 
 (b) Termination. The Plan shall terminate upon the earlier of (i) the close of business on the day preceding the tenth anniversary of the date of its adoption by the Board, or (ii) the date on
which all shares available for issuance under the Plan shall have been issued pursuant to the exercise or cancellation of awards granted under the Plan. If the date of termination is determined under (i) above, awards outstanding on such date
shall continue to have force and effect in accordance with the provisions of the instruments evidencing such grants. 
  

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