Document:

Prepared by R.R. Donnelley Financial -- PERKINELMER, INC. SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN.

 Exhibit 10.1 
  
 PERKINELMER, INC. 
  
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  

  
 (Effective January 1, 2001) 

 
  
  
  

 TABLE OF CONTENTS 
  

					
	ARTICLE

	  	 	  	PAGE

			
	1.	  	PURPOSE AND INTENT	  	1
			
	2.	  	DEFINITIONS	  	2
			
	3.	  	ADMINISTRATION	  	6
			
	4.	  	PARTICIPATION	  	7
			
	5.	  	PLAN BENEFITS	  	8
			
	6.	  	VESTING	  	9
			
	7.	  	CHANGE IN CONTROL	  	10
			
	8.	  	FORFEITURE OF BENEFITS	  	11
			
	9.	  	AMENDMENT OR TERMINATION	  	12
			
	10.	  	CLAIMS PROCEDURES	  	13
			
	11.	  	GENERAL PROVISIONS	  	14
		
	APPENDIX A	  	A-1

  

 Article 1 
  

PURPOSE AND INTENT 
  
 PerkinElmer, Inc. maintains the PerkinElmer, Inc. Supplemental Executive Retirement Plan (the “Plan”) to increase the overall effectiveness of
the Company’s executive compensation program to attract, retain and motivate qualified senior executives; to provide retirement benefits more closely related to Total Compensation; and to soften the financial impact of early retirement for
Participants. The Plan is intended to be “a plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the
meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, and shall be interpreted and administered in a manner consistent therewith. 
  
 This amendment and restatement of the Plan is effective January 1, 2001. The rights and benefits, if any, of each Participant who terminates service
before January 1, 2001 shall be determined in accordance with the respective provisions of the Plan in effect on the date such Participant separated from service. The original effective date of the Plan was January 1, 1978. 
  

 Article 2 
  

DEFINITIONS 
  
 Whenever used herein, unless the context clearly indicates otherwise, the following words and phrases shall have the meanings herein specified, and the
following definitions shall be equally applicable to both the singular and plural forms of any of the terms herein defined. The masculine pronoun whenever used herein shall include the feminine and neuter genders and the singular number as used
herein shall include the plural, and the plural the singular, unless the context clearly indicates a different meaning. 
  

	2.1	Actuarial Equivalence means a benefit of equivalent value to the benefit which otherwise would have been provided determined on the basis of the 1971 Group Annuity
Mortality Table with no loading, and projected by Scale E, with a one-year age setback for the Participant and a five (5) year age setback for any Beneficiary, and on the basis of an interest rate of 7%. If a lump sum payment is made pursuant to
Section 7.4, the single sum present value shall be calculated using the applicable interest rate and applicable mortality table promulgated by the Internal Revenue Service under Code Section 417(e)(3) as in effect on the first day of the calendar
year. 

  

	2.2	Average Total Compensation means the average annual Total Compensation of a Participant for the highest five (5) successive years of Credited Service for which the
Participant is directly compensated by the Company out of the last ten (10) years of such Credited Service prior to age 65 or earlier termination of employment. 

  

	2.3	Basic Plan means the PerkinElmer, Inc. Employees Retirement Plan and any other Company retirement plan under which a Participant is entitled to receive benefits.

  

	2.4	Basic Plan Benefit means the annual benefit payable under the Basic Plan in the form of a straight-life annuity at the time of retirement or at age 65, whichever
benefit is greater. 

  

	2.5	Change In Control means an event or occurrence set forth in any one or more of paragraphs (a) through (d) below (including an event or occurrence that constitutes a
Change in Control under one of such subsections but is specifically exempted from another such subsection): 

  

	 	a.	the acquisition by an individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership of any capital stock of the Company if, after such acquisition, such Person beneficially owns (within the meaning of Rule 13d-3 promulgated under the Exchange Act) twenty percent (20%) or
more of either 

  

	 	(i)	the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or 

  

	 	(ii)	the combined voting power of the then-outstanding securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting
Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change in Control: 

  

	 	(A)	any acquisition directly from the Company (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or
exchangeable for common stock or voting securities of the Company, unless the Person exercising, converting or exchanging such security acquired such security directly from the Company or an underwriter or agent of the Company),

  

	 	(B)	any acquisition by the Company, 

  

	 	(C)	any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or 

  

	 	(D)	any acquisition by any corporation pursuant to a transaction which complies with clauses (i) and (ii) of paragraph (c) of this Section 2.5; or 

  

	 	b.	such time as the Continuing Directors (as defined below) do not constitute a majority of the Board (or, if applicable, the Board of Directors of a successor corporation to the
Company), where the term “Continuing Director” means at any date a member of the Board 

  

	 	(i)	who was a member of the Board on the date of the execution of this Agreement, or 

  

	 	(ii)	who was nominated or elected subsequent to such date by at least a majority of the directors who were Continuing Directors at the time of such nomination or election or whose
election to the Board was recommended or endorsed by at least a majority of the directors who were Continuing Directors at the time of such nomination or election; provided however, that there shall be excluded from this clause (ii) any individual
whose initial assumption of office occurred as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a person
other than the Board; or 

  

	 	c.	the consummation of a merger, consolidation, reorganization, recapitalization or statutory share exchange involving the Company or a sale or other disposition of all or
substantially all of the assets of the Company (a “Business Combination”), unless, immediately following such Business Combination, each of the following two (2) conditions is satisfied: 

  

	 	(i)	all or substantially all of the individuals and entities who were the beneficial owners of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately
prior to such Business Combination beneficially own, directly or indirectly, more than fifty percent (50%) of the then-outstanding shares of common stock and the combined voting power of the then-outstanding securities entitled to vote generally in
the election of directors, respectively, of the resulting or acquiring corporation in such Business Combination (which shall include, without limitation, a corporation which as a result of such transaction owns the Company or substantially all of
the Company’s assets either directly or through one or more subsidiaries) (such resulting or acquiring corporation is referred to herein as the “Acquiring Corporation”) in substantially the same proportions as their ownership,
immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, respectively; and 

  

	 	(ii)	no Person (excluding the Acquiring Corporation or any employee benefit plan (or related trust) maintained or sponsored by the Company or by the Acquiring Corporation) beneficially
owns, directly or indirectly, twenty percent (20%) or more of the then-outstanding shares of common stock of the Acquiring Corporation, or of the combined voting power of the then-outstanding securities of such corporation entitled to vote generally
in the election of directors (except to the extent that such ownership existed prior to the Business Combination); or 

  

	 	d.	approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

  

	2.6	Committee means the Senior Executive and Governance Committee of the PerkinElmer, Inc. Board of Directors. 

  

	2.7	Company means PerkinElmer, Inc. and any subsidiary of which PerkinElmer, Inc. controls 50 percent or more of the voting stock. 

  

	2.8	Credited Service shall be determined in accordance with the following: 

  

	 	a.	A Participant shall accrue a full year of Credited Service for each year in which he has at least 2,080 Hours of Service. In any year in which a Participant has less than 2,080
Hours of Service, the Participant shall be deemed to complete 1/12 of a year of Credited Service for each 173-1/3 Hours of Service completed during such year. 

  

	 	b.	Service with a company other than the Company may, at the discretion of the Committee, be deemed to be Credited Service. 

  

	 	c.	If a Participant who has completed ten (10) or more Years of Service becomes a Disabled Participant, the period of disability up to age 65 shall be counted as Credited Service
regardless of whether the Participant remains in the employ of the Company. 

  

	 	d.	A Participant shall in no event be deemed to accrue more than one full year of Credited Service with respect to any year. 

  

	 	e.	If the Participant was an Employee of the Company, terminated his Employment and is rehired, the following rules shall apply in determining his years of Credited Service:

  

	 	(i)	in the case of a Participant who had five (5) or more Years of Service, his years of Credited Service accrued during his prior period of Employment shall be reinstated as of the
date of his re-employment; and 

  

	 	(ii)	in the case of a Participant whose Employment terminated before completing five (5) Years of Service, his years of Credited Service accrued during his prior period of Employment
shall be reinstated unless the “Break-in-Service” exceeds the greater of: (a) five (5) years, or (b) the number of prior Years of Service. 

  

	2.9	Disabled Participant means a Participant who incurs a physical or mental condition which, as determined by the Federal Social Security Administration, renders the
Participant eligible to receive disability benefits under Title II of the Federal Social Security Act, as amended from time to time. 

  

	2.10	Eligible Spouse means a person who was legally married to the Participant on the date of retirement or, if not retired, the date of death. 

  

	2.11	Employee means any person employed by the Company or a successor in a merger or other reorganization. 

  

	2.12	Employment means service in the employ of the Company, or a successor in a merger or other reorganization. 

  

	2.13	Executive Officer means an officer of PerkinElmer, Inc. at or above the Vice Presidential level, the General Counsel, the Treasurer, the Corporate Controller,
Assistant Treasurer, and Assistant Clerk. 

  

	2.14	Participant means either an Executive Officer of PerkinElmer, Inc. or any other employee of the Company who is so designated by the Committee.

  

	2.15	Plan Benefit means the annual benefit payable in accordance with the Plan. 

  

	2.16	Social Security Benefit means the estimated annual Primary Old Age Insurance Amount which the Participant would be entitled to receive at retirement under the Federal
Social Security Act; provided, however, that the Social Security Benefit for a Participant who dies or retires prior to age 65 shall be calculated on such date as if: 

  

	 	a.	the Participant will not receive any future wages which would be treated as wages for purposes of the Federal Social Security Act; and 

  

	 	b.	the Participant had elected to begin receiving Social Security as of the earliest age then allowable to the Participant under said Act. 

  

	2.17	Social Security Tax Base means the 35 year average of maximum wages upon which Social Security taxes were based during each of the calendar years ending with the
calendar year in which the Employee reaches his Normal Retirement Date (as defined under the Basic Plan), assuming no change in the Social Security maximum taxable wage after the Employee’s termination of Employment. In order to determine the
Social Security Tax Base for an Employee who works beyond his Normal Retirement Date, it will be assumed that the Employee’s Normal Retirement Date occurs in the year of termination. 

  

	2.18	Surviving Spouse Option means a 50% Joint and Survivor form of payment under which a reduced amount shall be paid to the Participant during his lifetime and the
Eligible Spouse, if surviving at the Participant’s death, shall receive a lifetime benefit equal to 50% of the reduced benefit which had been payable to the Participant. The Surviving Spouse Option is the Actuarial Equivalent of the
Participant’s Plan Benefit had it been paid in the form of a Lifetime Income Option. 

  

	2.19	Total Compensation means the total cash compensation in the form of base salary paid to a Participant by the Company. Total Compensation shall also include incentive
awards under the PerkinElmer, Inc. Management Incentive Program. Such incentive awards shall be taken into account for purposes of this Section 2.19 as of the earliest date the Participant could have elected to receive the incentive award in cash.

  

	2.20	Years of Service shall be determined in accordance with the following: 

  

	 	a.	A Participant shall accrue a Year of Service for each Year in which he has 1,000 or more Hours of Service with the Company. Any Year in which the Participant has less than 1,000 but
more than 500 Hours of Service shall not constitute a Break-in-Service but will not be considered as a Year of Service. If in any Year, the Participant has less than 500 Hours of Service, he shall incur a Break-In-Service. 

 

	 	b.	A Participant shall be considered as accruing Hours of Service in accordance with his normal work week for each week: 

  

	 	(i)	while on an authorized leave of absence, if at or before the end of such leave, the Participant returns to service, provided however, that a Participant on a leave who fails to
return to service at or before the end of such leave, will be considered to have terminated his Employment as of the last day of service with the Company. If, however, such failure to return was due to death, disability, or retirement on his early
or normal retirement date, the Participant’s date of termination will be the date on which one of the above occurs; 

  

	 	(ii)	during the one (1) year period following the date on which a Participant is laid off due to a reduction in work force, provided the Participant returns to service within the
one-year period following his date of termination. If the Participant does not return to service within said one-year period, whether because he was not recalled or was recalled but did not return to service, the Participant shall be considered to
have terminated his service as of the last day of service. 

  
 If a Participant terminates his Employment and is rehired, the following rules shall apply in determining his Years of Service: 
  

	 	a.	In the case of a Participant who had five (5) or more Years of Service, his Years of Service accrued during his prior period of Employment shall be reinstated as of the date of his
re-employment. 

  

	 	b.	In the case of a Participant whose Employment terminated before completing five (5) Years of Service, his Years of Service accrued during his prior period of Employment shall be
reinstated unless the “Break-in-Service” exceeds five (5) years. 

  
 In no event shall a Participant be deemed to have more than one Year of Service with respect to any Year. 
  

 Article 3 
  

ADMINISTRATION 
  
 The Plan shall be administered by the Committee. The Committee shall have the authority to interpret the provisions of the Plan and decide all questions
and settle all disputes which may arise in connection with the Plan, all in the sole exercise of its discretion. The Committee may establish operative and administrative rules and procedures in connection therewith, provided that such procedures are
consistent with the requirements of Section 503 of ERISA. All interpretations, decisions and determinations made by the Committee shall be final, conclusive and binding on all persons concerned. No member of the Committee who is a Participant may
vote or otherwise participate in any decision or act with respect to a matter relating to himself or his beneficiaries. The Committee and the individual members thereof shall be indemnified by the Company against any and all liabilities arising by
reason of any act or failure to act made in good faith pursuant to the provisions of the Plan, including expenses reasonably incurred in the defense of any claim relating thereto. 

 Article 4 
  

PARTICIPATION 
  

	4.1	Participation. Each Participant in the Plan on December 31, 2000, shall continue to be a Participant in the amended and restated Plan on January 1, 2001.

  
 The remaining Participants shall be those
Executive Officers or other Employees who are both selected by the Committee and are “management” or “highly compensated” employees within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. 
  

	4.2	Selection by Committee. Effective July 31, 2000, no Executive Officer or other Employee shall have the right to become a Participant in the Plan unless selected by the
Committee in the sole exercise of its discretion. 

  

	4.3	Termination of Participation. A Participant’s participation in the Plan shall end upon his termination of service with the Company for any reason or his ceasing
to be a management or highly compensated employee. In addition, the Committee may terminate a Participant’s participation in the Plan, but such termination shall not reduce the obligation of the Company to any Participant below the amount to
which he would be entitled under the Plan as in effect immediately prior to such termination of participation if his employment with the Company were then terminated. 

 Article 5 
  

PLAN BENEFITS 
  

	5.1	Amount of Plan Benefit. The amount of Plan Benefit payable upon retirement as a monthly retirement income for life to a Participant who, while in the
employ of the Company, has both attained age 55 and completed five (5) Years of Service shall be equal to (a) less (b) plus (c) plus (d) calculated as follows: 

  

	 	a.	.85 percent of Average Total Compensation for each year of Credited Service, plus .75 percent of Average Total Compensation in excess of the Social Security Tax Base for each year
of Credited Service not exceeding thirty-five (35); 

  
 Less 
  

	 	b.	100 percent of the Participant’s Basic Plan Benefit; 

  
 Plus 
  

	 	c.	The reduction, if any, to the early retirement benefit payable from the Basic Plan due to the limitations as set forth in Section 415(b) of the Internal Revenue Code of 1986;

  
 Plus 
  

	 	d.	For each Participant listed in Appendix J of the Basic Plan, an amount equal to (i) minus (ii): 

  

	 	(i)	the portion of the Participant’s Basic Plan Benefit determined under Section 4.2(b)(iii) of the Basic Plan payable at age 65, 

  
 and 
  

	 	(ii)	the portion of the Basic Plan Benefit determined under Section 4.2(b)(iii) payable as of the date the Participant commences his Plan Benefit. 

  
 The benefit payable under the Plan, however, shall in no event be less than
(c) above. Years of Service and/or Credited Service after age 65 shall not be counted in determining the Plan Benefit in 5.1(a) above, nor shall any actuarial adjustment be made as the result of either retirement before or after age 65. 

 

	5.2	Pre-Retirement Death Benefit. If a Participant who, while in the employ of the Company, had attained age 55 and completed five (5) Years of Service dies
prior to retirement, the Participant’s Eligible Spouse, if any, shall be entitled to receive an annual Plan Benefit determined as if the Participant had retired and elected a Surviving Spouse Option on the day before the Participant died.

  
 If a Participant dies while in the employ of
the Company prior to attaining age 55, but after the completion of five (5) Years of Service, the Participant’s benefit will be calculated on the date of the Participant’s death; and the Participant’s Eligible Spouse, if any, shall be
entitled to receive an annual Plan Benefit in the form of a Surviving Spouse Option commencing on the day the Participant would have attained age 55, if still living. 
  

	5.3	Form of Payment. The form of payment shall be selected by the Participant from among the optional forms of payment made available under the Basic Plan.
All optional forms of payment shall be the Actuarial Equivalent of a monthly retirement income for life. 

  

	5.4	Time of Payment. At the election of the Participant, benefit payments will commence on the first of the month following the month in which the
Participant retires, but in no event later than April 1st of the Calendar Year following the Participant attaining
age 701⁄2. 

  

	5.5	Except as provided in Article 8 and in Section 11.1, the Company shall promptly pay all Participants or Eligible Spouses the benefits due them under the Plan without any right to
offset or to delay any benefits pending the outcome of any arbitration, lawsuit or other dispute with any such Participant. 

 Article 6 
  

VESTING 
  

	6.1	Full Vesting. A Participant who both attains age 55 and completes at least five (5) Years of Service while in the employ of the Company shall be 100%
vested in his Plan Benefit. 

  

	6.2	Termination of Employment. A Participant who terminates employment with the Company before he satisfies both conditions stated in Section 6.1 shall not
be entitled to any benefits hereunder. 

  

	6.3	Change of Control. Upon a Change in Control, Article 7 may become operative to override the provisions of Sections 6.1 and 6.2. 

 Article 7 
  

CHANGE IN CONTROL 
  

	7.1	Additional Retirement Security. Upon a Change in Control, the provisions of this Article VII shall become operative and shall supersede any conflicting
provisions in the Plan unless the Board of Directors of PerkinElmer, Inc. votes not to implement this Article VII within twenty (20) days of the occurrence of the Change in Control. 

  

	7.2	Participation Frozen. No new Participants shall be admitted to participation after the occurrence of the Change in Control. 

  

	7.3	Accelerated Vesting. Each Participant in the employ of the Company on the date of the Change in Control shall be 100% vested in his Plan Benefit.

  

	7.4	Accelerated Payment of Plan Benefit. Each Participant in the employ of the Company on the date of the Change in Control shall receive a single sum
distribution of the Actuarial Equivalent of his Plan Benefit determined as of the Change in Control and paid within forty-five (45) days of the Change in Control. 

 Article 8 
  

FORFEITURE OF BENEFITS 
  
 To the extent permitted by applicable law and notwithstanding anything in the Plan to the contrary, a Participant who acts in a manner prejudicial to the
interests of the Company shall forfeit his rights to benefits under the Plan. A Participant shall be deemed to have acted in a manner prejudicial to the interests of the Company if, at any time within one (1) year after termination of employment,
the Participant engages in any activity in competition with any business activity of the Company, or inimical, contrary or harmful to the interests of the Company, including, but not limited to: 
  

	 	(i)	conduct related to the Participant’s employment for which either criminal or civil penalities may be sought against the Participant, 

  

	 	(ii)	violation of Company policies, including, without limitation, the Company’s personnel and insider trading policies, 

  

	 	(iii)	accepting employment that is in competition with or acting against the interests of the Company, 

  

	 	(iv)	employing or recruiting any present, former of future employee of the Company, 

  

	 	(v)	disclosing or misusing any confidential information or material concerning the Company, or 

  

	 	(vi)	participating in a hostile takeover attempt, tender offer of proxy contest. 

  
 If this Article 8, or any portion thereof, is held to be illegal, invalid, or unenforceable under present or future law, and not subject to reformation, then such
provision shall be fully severable, and the remaining provisions of the Plan shall remain in full force and effect and shall not be affected by the severed provision or by its severance. 

 Article 9 
  

AMENDMENT OR TERMINATION 
  
 The Company intends the Plan to be permanent but reserves the right to amend or terminate the Plan upon action of the Board of Directors of PerkinElmer,
Inc. Any amendment approved by the board must be in writing and be executed by the officer authorized to take such action. An amendment shall be effective when approved by the board in its resolution. No amendment or termination shall directly or
indirectly deprive any current or former Participant or beneficiary of all or any portion of any benefit payment which has commenced prior to the effective date of such amendment or termination or which could be payable if the Participant terminated
employment for any reason, including death, immediately prior to the effective date such amendment or termination. 

 Article 10 
  
 CLAIMS PROCEDURES 
  

	10.1	General. Any claim for benefits under the Plan shall be filed by the Participant or beneficiary (claimant) of the Plan on the form prescribed for such purpose with the
Committee, or in lieu thereof, by written communication which is made by the claimant’s authorized representative in a manner reasonably calculated to bring the claim to the attention of the Committee. 

  

	10.2	Denials. If a claim for a Plan benefit is wholly or partially denied, notice of the decision shall be furnished to the claimant by the Committee within a reasonable
period of time after receipt of the claim by the Committee. 

  

	10.3	Notice. Any claimant who is denied a claim for benefits shall be furnished written notice setting forth: 

  

	 	(a)	the specific reason or reasons for the denial; 

  

	 	(b)	specific reference to the pertinent Plan or provision upon which the denial is based; 

  

	 	(c)	a description of any additional material or information necessary for the claimant to perfect the claim; and 

  

	 	(d)	an explanation of the Plan’s claim review procedure. 

  

	10.4	Appeals Procedure. To appeal the denial of a claim, a claimant or his duly authorized representative: 

  

	 	(a)	may request a review by written application to the Company’s board of directors, or its designate, not later than sixty (60) days after receipt by the claimant of written
notification of denial of claim; 

  

	 	(b)	may review pertinent documents; and 

  

	 	(c)	may submit issues and comments in writing. 

  

	10.5	Review. A decision on review of a denied claim shall be made not later than sixty (60) days after receipt of a request for review, unless special circumstances require
an extension of time for processing, in which case a decision shall be rendered within a reasonable period of time, but not later than 120 days after receipt of a request for review. The decision on review shall be in writing and shall include the
specific reason(s) for the decision and the specific reference(s) to the pertinent Plan provisions on which the decision is based. 

  

	10.6	Arbitration. Any controversy or claim arising under or relating to a claim for benefits under the Plan shall be resolved by binding arbitration in accordance with the
rules and procedures of the American Arbitration Association. The Plan shall not be required to submit any such claim or controversy until the claimant has first exhausted the procedures described in Section 10.5 although the Committee may
voluntarily do so at any point in processing an appeal from a prior claim denial or other disputed benefit determination. 

  
 The Company shall bear all costs of an arbitration, except that the arbitrator shall have the power to apportion among the parties other expenses such as
prehearing discovery, travel costs and attorney’s fees. The decision of the arbitrator shall be final and binding on all parties and judgment on the arbitrator’s award may be entered in any court of competent jurisdiction. 

 Article 11 
  
 GENERAL PROVISIONS 
  

	11.1	Plan Not Funded. The Plan is intended to be and shall be construed and administered as an employee pension benefit plan under Section 3(2)(A) of ERISA which is
unfunded and maintained by the Company solely to provide deferred compensation to a “select group of management or highly compensated employees” within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. The obligation of the
Company to make payments under the Plan constitutes nothing more than an unsecured promise of the Company to make such payments. No Participant, beneficiary or any other person shall have any interest in any particular assets of the Company by
reason of the right to receive a benefit under the Plan and any such Participant, beneficiary or other person shall have only the rights of a general unsecured creditor of the Company with respect to any rights under the Plan. PerkinElmer, Inc., in
its sole discretion, may create one or more trusts to hold assets of the Plan and to provide for the payment of benefits. PerkinElmer, Inc. shall be the owner of each trust and the trust corpus shall be subject to the claims of general creditors in
the event of the bankruptcy or insolvency of PerkinElmer, Inc. The trusts shall contain such other terms and conditions as PerkinElmer, Inc. may deem necessary or advisable to ensure that benefits are not includable, by reason of the trusts, in the
income of trust beneficiaries prior to actual distribution and that the existence of the trusts does not cause the Plan to be considered “funded” for purposes of Title I of the Employee Retirement Income Security Act of 1974, as amended.

  

	11.2	No Guaranty of Benefits. Nothing contained in the Plan shall constitute a guaranty by the Company or any other entity or person that the assets of the Company will be
sufficient to pay any benefit hereunder. 

  

	11.3	No Enlargement of Employee Rights. No Participant or beneficiary shall have any right to a benefit under the Plan except in accordance with terms of the Plan.
Establishment of the Plan shall not be construed to give any Participant the right to be retained in the service of the Company. 

  

	11.4	Spendthrift Provision. No interest of any person or entity in, or right to receive a benefit under, the Plan shall be subject in any manner to sale, transfer,
assignment, pledge, attachment, garnishment, or other alienation or encumbrance of any kind; nor may such interest or right to receive a benefit be taken, either voluntarily or involuntarily, for the satisfaction of the debts or other obligations or
claims against, such person or entity, including claims for alimony, support, separate maintenance and claims in bankruptcy proceedings. 

  

	11.5	Applicable Law. The Plan shall be construed and administered under the laws of the Commonwealth of Massachusetts. 

  

	11.6	Incapacity of Recipient. If any person entitled to a benefit payment under the Plan is deemed by the Company to be incapable of personally receiving and giving a valid
receipt for such payment, then, unless and until claim therefor shall have been made by a duly appointed guardian or other legal representative of such person, the Company may provide for such payment or any part thereof to be made to any other
person or institution than contributing toward or providing for the care and maintenance of such person. Any such payment shall be a payment for the account of such person and a complete discharge of any liability of the Company and the Plan
thereof. 

  

	11.7	Corporate Successors. The Plan shall not be automatically terminated by a transfer or sale of assets of the Company. 

 IN WITNESS WHEREOF, the Company has caused the Plan to be executed by its duly authorized representative this 13th day of
December, 2000. 
  

									
	 (SEAL)
	 	 	 	 PERKINELMER, INC.

			
	 Attest:
	 	 	 	 
				
	 	 	 	 	 By:
	 	/S/    TERRANCE L.
CARLSON        
					
	 Its
	 	 	 	 	 	 Its:
	 	Senior Vice President and General Counsel

 APPENDIX A 
  

The Plan Benefit payable to Participant Angelo Castellana shall commence effective February 1, 2002 regardless of whether the Participant remains in service with the
Company on that date. On the date the Participant separates from service with the Company for any reason, his Plan Benefit shall be recalculated on the basis of his average total compensation, Basic Plan Benefit and years of Credited Service as of
the date of termination. This Appendix A shall become inoperative and of no effect if the Participant separates from service for any reason before February 1, 2002. 

 PerkinElmer, Inc. 
  
 Supplemental Executive Retirement Plan 
 (as amended and restated Effective January 1, 2001) 
  
 First Amendment 
  
 WHEREAS, PerkinElmer, Inc. a Massachusetts corporation (the “Company”) and Robert A. Barrett (“Executive”) have entered into an employment agreement (the “Agreement”) on even date herewith; 

 
 WHEREAS, pursuant to Paragraph 3(c) of the Agreement, the Company and
Executive has agreed that Executive will participate in the PerkinElmer, Inc. Supplemental Executive Retirement Plan (the “Plan”) on such terms and conditions as shall be set by the Company; and 
  
 WHEREAS, the Agreement has been entered into in order to retain Executive
through a period of strategic review and possible disposition of the Fluid Sciences SBU, and the Company wishes to ensure Executive’s retention and motivation as the leader of the Fluid Sciences SBU through the transition period. 
  
 NOW WHEREFORE, pursuant to the Agreement, the Plan is, with the consent of
the Executive, amended as follows: 
  
 A new Appendix B is added to the Plan to
read in its entirety as follows: 
  
 “Appendix B

  
 Notwithstanding any provision of the Plan to the contrary, the Plan
Benefit payable to Participant Robert A. Barrett shall be subject to the following vesting provisions: 
  
 1. Such Plan Benefit shall be 100% vested on such Participant’s termination of employment pursuant to Paragraphs 5(b), (c), or (e) of the Participant’s Employment Agreement or upon divestiture of the Fluid
Sciences SBU. 
  
 2. In the case of Participant’s voluntary termination of
employment pursuant to Paragraph 5(a) of the Participant’s Employment Agreement, the following vesting schedule shall apply: 
  

				
	 Resignation Date

	  	Vesting Percentage

	 
	 Prior to January 1, 2004
	  	55	%
	 On or after January 1, 2004
	  	100	%

  
 The provisions of the Plan addressing
payment and amount of benefits in the event of death, upon a change in control, or in the event of prejudicial acts by the Participant, as well as all other provisions of the Plan, remain unchanged and in full force and effect with respect to the
Participant.” 

 IN WITNESS WHEREOF, this First Amendment has been executed, with the consent of Robert A. Barrett, this 31st day of
October, 2002. 
  

			
	PERKINELMER, INC.
		
	 By:
	 	/S/    RICHARD F.
WALSH        
	 	 	 Richard F.Walsh
 Senior Vice President, Human Resources

  
 Consented to: 
  
 I acknowledge that I have read and understand the foregoing First Amendment to the
PerkinElmer, Inc. Supplemental Executive Retirement Plan (as amended and restated effective January 1, 2001) (the “Plan”). I fully understand and agree to the terms, validity and enforceability of the First Amendment, notwithstanding the
provisions of Section 6.1, Article 9 or any other language to the contrary contained in the Plan, and hereby fully release, waive and discharge the Company from any and all claims for benefits under the Plan relating to the First Amendment and the
amended vesting schedule set forth therein, including but not limited to any claims arising under the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. §1001 et seq. 
  

	
	
	/S/    ROBERT A.
BARRETT        
	 Robert A. Barrett

 PerkinElmer, Inc. 
 Supplemental Executive Retirement Plan 
 (as amended and restated effective January 1, 2001) 
  
 Second Amendment 
  
 WHEREAS, PerkinElmer, Inc., a Massachusetts corporation (the
“Company”) maintains the PerkinElmer, Inc. Supplemental Executive Retirement Plan (the “Plan”); 
  
 WHEREAS, the Plan has been historically administered by the committee of the Company’s Board of Directors (the “Board”) charged with
responsibilities relating to compensation of the Company’s executive officers; and 
  
 WHEREAS, the committee of the Board so charged has, since January 1, 2001, been the Compensation and Benefits Committee. 
  
 NOW, WHEREFORE, the Plan is amended as follows, effective January 1, 2001: 
  
 1. Section 2.6 is amended in its entirety to read as follows: 
  
 “Committee means the Compensation and Benefits Committee of the PerkinElmer, Inc. Board of Directors, or
any successor committee charged with responsibility relating to compensation of the Company’s executive officers.” 
  
 2. The first three sentences of Article 9 are deleted and replaced with the following language: 
  
 “The Company intends the Plan to be permanent but reserves the right to amend or terminate the Plan upon action of the
Committee. Any amendment approved by the Committee must be in writing and be executed by an officer of the Company authorized to take such action.” 
  
 IN WITNESS WHEREOF, this Second Amendment has been executed this 22nd day of July, 2003. 
  

			
	 PERKINELMER, INC.

		
	 By:
	 	/S/    TERRANCE L.
CARLSON        
	 	 	 Terrance L. Carlson
 Senior Vice President and General Counsel

 July 23, 2004 
  
 PerkinElmer, Inc. 
 Supplemental Executive
Retirement Plan 
 (as amended and restated effective January 1, 2001) 
  
 Third Amendment 
  
 WHEREAS, PerkinElmer, Inc., a Massachusetts corporation (the “Company”) maintains the PerkinElmer, Inc. Supplemental Executive Retirement Plan
(the “Plan”); and 
  
 WHEREAS, pursuant to the Plan, as
previously amended by the First and Second Amendments thereto, the Compensation and Benefits Committee has the power to amend the Plan. 
  
 NOW, WHEREFORE, the Plan is amended as follows, effective as of July 23, 2004: 
  
 1. Section 2.5 is amended in its entirety to read as follows: 
  
 “Change in Control means an event or occurrence set forth in any
one or more of clauses (i) through (iv) below (including an event or occurrence that constitutes a Change in Control under one or such clauses but is specifically exempted from another such clause): 
  
 (i) the acquisition by an individual, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (a “Person”) of beneficial ownership of any capital stock or the Company if, after such acquisition, such Person beneficially
owns (within the meaning of Rule 13d-3 promulgated under the Exchange Act) 20% or more of either (A) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of
the then-outstanding securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this paragraph (i), none of the following
acquisitions of Outstanding Company Common Stock or Outstanding Company Voting Securities shall constitute a Change in Control: (I) any acquisition directly from the Company (excluding an acquisition pursuant to the exercise, conversion or exchange
of any security exercisable for, convertible into or exchangeable for common stock or voting securities of the Company, unless the Person exercising, converting or exchanging such security acquired such security directly from the Company or an
underwriter or agent of the Company), (II) any acquisition by the Company, (III) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or (IV) any
acquisition by any corporation pursuant to a transaction which complies with subclauses (A) and (B) of clause (iii) of this Section 2.5; or 
  
 (ii) such time as the Continuing Directors (as defined below) do not constitute a majority of the Board (or, if applicable, the Board of Directors of a
successor corporation to the Company), where the term “Continuing Director” means at any date a member of the Board (A) who was a member of the Board on the date of the execution of this Agreement or (B) who was nominated or elected
subsequent to such date by at least a majority of the directors who were Continuing Directors at the time of such nomination or election or whose election to the Board was recommended or endorsed by at least a majority of the directors who were
Continuing Directors at the time of such nomination or election; provided, however, that there shall be excluded from this clause (B) any individual whose initial assumption of office occurred as a result of an actual or threatened election contest
with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a person other than the Board; or 
  
 (iii) the consummation of a merger, consolidation, reorganization, recapitalization or statutory share exchange involving
the Company or a sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), unless, immediately following such Business Combination, each of the following two conditions is satisfied: (A)
all or substantially all of the individuals and entities who were the beneficial owners of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly

 
or indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then outstanding securities entitled to vote
generally in the election of directors, respectively, of the surviving, resulting or acquiring corporation in such Business Combination (which shall include, without limitation, a corporation which as a result of such transaction owns the Company or
substantially all of the Company’s assets either directly or through one or more other entities) (such resulting or acquiring corporation is referred to herein as the “Acquiring Corporation”) in substantially the same proportions as
their ownership, immediately prior to such Business Combination, of the Outstanding Company Stock and Outstanding Company Voting Securities, respectively; and (B) no Person beneficially owns, directly or indirectly, 20% or more of the then
outstanding shares of common stock of the Acquiring Corporation, or of the combined voting power of the then-outstanding securities of such corporation entitled to vote generally in the election of directors (except to the extent that such ownership
existed prior to the Business Combination); or 
  
 (iv) approval
by the stockholders of the Company of a complete liquidation or dissolution of the Company.” 
  
 2. Section 2.8 is amended by adding new subparagraphs f. and g. to read in their entirety as follows: 
  
 “f. In the case of a Participant who receives payment of his Plan
Benefit following a Change in Control pursuant to Section 7.4, Credited Service shall mean the Participant’s Credited Service as otherwise determined pursuant to (a) through (e) above increased by three (3) additional years. 
  
 g. If so provided in an employment agreement in effect between the
Participant and the Company, for purposes of calculating a Participant’s Plan Benefit following his termination by the Company without cause, Credited Service shall mean the Participant’s Credited Service as otherwise determined pursuant
to (a) through (e) above increased by the period of months or years provided in the Participant’s employment agreement.” 
  
 3. Section 2.13 is amended in its entirety to read as follows: 
  
 “Executive Officer means an officer of the Company.” 
  
 4. Section 2.14 is amended in its entirety to read as
follows: 
  
 “Participant means an individual who
participates in the Plan in accordance with Article 4.” 
  
 5. So much of Section 5.1 as precedes (a) is amended in its entirety to read as follows: 
  
 “Amount of Plan Benefit. The amount of Plan Benefit payable upon retirement as a monthly retirement income for life to a Participant who,
while in the employ of the Company, has both attained age 55 and completed five (5) Years of Service (or to a Participant who becomes entitled to payment of his Plan Benefit pursuant to Article 7) shall be equal to (a) less (b) plus (c) plus (d)
calculated as follows:” 
  
 6. The last
paragraph of Section 5.1 is amended in its entirety to read as follows: 
  
 “The benefit payable under the Plan, however, shall in no event be less than (c) above. No actuarial adjustment shall be made as the result of either retirement before or after age 65.” 
  
 7. Section 7.1 is amended in its entirety to read as
follows: 
  
 “Additional Retirement Security. Upon a
Change in Control, the provisions of this Article 7 shall become operative and shall supersede any conflicting provisions in the Plan.” 
  
 8. Section 7.4 is amended in its entirety to read as follows: 
  
 “Plan Benefits; Payment. Each Participant in the employ of the Company on the date of the Change in Control
shall receive, within forty-five (45) days of the Change in Control, a single sum distribution of the Actuarial Equivalent of his Plan Benefit determined as of the Change in Control taking into account paragraph (f) of Section 2.8.” 

 
 9. The last paragraph of Section 10.6 is amended in its
entirety to read as follows: 
  
 “The costs of any such
arbitration shall be borne equally by the Company and the claimant. Each party shall be responsible for its own legal expenses. The decision of the arbitrator shall be final and binding on all parties and judgment on the arbitrator’s award may
be entered in any court of competent jurisdiction.” 

 IN WITNESS WHEREOF, this Third Amendment has been executed this 23rd day of July, 2004. 
  

			
	PERKINELMER, INC.
		
	By:	 	/S/    RICHARD F. WALSH
	 	 	 Richard F. Walsh
 Senior Vice President, Human ResourcesThe Sands Regent 2004 Equity Incentive Plan

 EXHIBIT 10.1 
  
 THE SANDS REGENT 
 2004 EQUITY INCENTIVE PLAN 
  
 PREAMBLE 

 
 The Sands Regent adopts this Equity Incentive Plan to establish a
linkage between the success of The Sands Regent, a Nevada Corporation (the “Company”) and the financial interests of those in a position to enhance that success through personal effort and performance. By this 2004 Equity Incentive Plan,
the Company seeks to provide incentive and to fairly reward the outstanding performance of its Employees and its Board, leading to superior returns to the Stockholders of the Company. This Equity Incentive Plan is designed to provide flexibility to
the Company to attract, motivate and retain those Employees and Board members who may directly and indirectly affect the financial and operational success of the Company. 
  
 ARTICLE 1 
 DEFINITIONS 
  
 1.1 Definitions. The following words and
phrases shall have the following meanings: 
  
 (a)
“Administrator” shall mean the entity that conducts the general administration of the Plan (including the grant of Awards) as provided herein. With reference to the administration of the Plan with respect to an Award granted or to be
granted to Independent Directors, the term “Administrator” shall refer to the Board. With reference to the administration of the Plan with respect to an Award granted or to be granted to Employees or Consultants, the term
“Administrator” shall refer to the Committee, unless and to the extent (a) the Board has assumed the authority for administration of all or any part of the Plan as permitted in Section 11.1 or (b) the Committee has delegated the authority
for administration of all or part of the Plan as permitted by Section 11.5, in which case the term “Administrator” shall refer to the Board or such subcommittee to which authority has been so delegated, as applicable. 
  
 (b) “Award” means an Option, a Restricted Stock award, a Stock
Appreciation Right award, a Performance Share award, a Performance Stock Unit award, a Deferred Stock award, a Restricted Stock Unit award, a Stock Payment award, an Other Stock-Based Award, or a Performance-Based Award granted to a Participant
pursuant to the Plan. 
  
 (c) “Award Agreement” means
any written agreement, contract, or other instrument or document evidencing an Award. 
  
 (d) “Board” means the Board of Directors of the Company, as constituted from time to time. 
  

 1 

 (e) “Cause” shall have the meaning assigned to such term in any employment agreement between
the Participant and the Company which is in effect on the date of grant. If there is no employment agreement in effect between the Participant and the Company on the date of grant (or if such agreement does not define the term “cause”),
the term “Cause” shall have the meaning assigned to it from time to time by the Administrator. 
  
 (f) “Change of Control” means and includes each of the following: 
  
 (1) The acquisition, directly or indirectly, by any “person” or “group” (as those terms are defined in
Sections 3(a)(9), 13(d) and 14(d) of the Exchange Act and the rules thereunder) of “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange Act) of securities entitled to vote generally in the election of directors
(“voting securities”) of the Company that represent 25% or more of the combined voting power of the Company’s then outstanding voting securities, other than: 
  
 (A) an acquisition by a trustee or other fiduciary holding securities under any employee benefit plan (or related trust)
sponsored or maintained by the Company or any person controlled by the Company or by any employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company, or 
  
 (B) an acquisition of voting securities by the Company or a corporation
owned, directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the stock of the Company, or 
  
 (C) an acquisition of voting securities pursuant to a transaction described in clause (3) below that would not be a Change of Control under clause (3);

  
 Notwithstanding the foregoing, neither of the following events
shall constitute an “acquisition” by any person or group for purposes of this subsection (f): an acquisition of the Company’s securities by the Company which causes the Company’s voting securities beneficially owned by a person
or group to represent 25% or more of the combined voting power of the Company’s then outstanding voting securities; provided, however, that if a person or group shall become the beneficial owner of 25% or more of the combined voting
power of the Company’s then outstanding voting securities by reason of share acquisitions by the Company as described above and shall, after such share acquisitions by the Company, become the beneficial owner of any additional voting securities
of the Company, then such acquisition shall constitute a Change of Control; or 
  
 (2) During any period of two consecutive years, individuals who, at the beginning of such period, constitute the Board, together with any new director(s) (other than a director designated by a person who shall have
entered into an agreement with the Company to effect a transaction described in clauses (1) or (3) of this subsection (f)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least
two-thirds of the directors then still in office who 
  

 2 

 either were directors at the beginning of the two-year period or whose election or nomination for election was previously
so approved, cease for any reason to constitute a majority thereof; or 
  
 (3) the consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or
other disposition of all or substantially all of the Company’s assets or (z) the acquisition of assets or stock of another entity, in each case other than a transaction 
  
 (A) which results in the Company’s voting securities outstanding immediately before the transaction continuing to
represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or
substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of the combined voting power of the
Successor Entity’s outstanding voting securities immediately after the transaction; and, 
  
 (B) after which no person or group beneficially owns voting securities representing 25% or more of the combined voting power of the Successor Entity; provided, however, that no person or group shall be treated
for purposes of this clause (B) as beneficially owning 25% or more of combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the consummation of the transaction; or 
  
 (4) The Company’s stockholders approve a liquidation or dissolution of
the Company. 
  
 The Administrator shall have full and final
authority, which shall be exercised in its discretion, to determine conclusively whether a Change of Control of the Company has occurred pursuant to the above definition, and the date of the occurrence of such Change of Control and any incidental
matters relating thereto. 
  
 (g) “Code” means the
Internal Revenue Code of 1986, as amended. 
  
 (h)
“Committee” means the committee of the Board described in Article 11. 
  
 (i) “Consultant” means any consultant or adviser if: 
  
 (1) The consultant or adviser renders bona fide services to the Company; 
  
 (2) The services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and do
not directly or indirectly promote or maintain a market for the Company’s securities; and 
  

 3 

 (3) The consultant or adviser is a natural person (or permitted wholly-owned corporate alter ego) who has
contracted directly with the Company to render such services. 
  
 (j) “Covered Employee” means an Employee who is, or reasonably is expected could be, a “covered employee” within the meaning of Section 162(m) of the Code. 
  
 (k) “Deferred Stock” means a right to receive a specified number of shares of Stock during specified time periods
pursuant to Article 7. 
  
 (l) “Disability” means, for
purposes of this Plan, that the Participant is unable, due to illness or accidental injury, to perform the functions of the Participant’s job for a period of at least sixty (60) days, consecutively. 
  
 (m) “Employee” means any officer or other employee (as defined in
accordance with Section 3401(c) of the Code) of the Company or any Subsidiary. 
  
 (n) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 (o) “Fair Market Value” means, as of any given date, the fair market value of a share of Stock on such date determined by such methods or
procedures as may be established from time to time by the Administrator. Unless otherwise determined by the Administrator, the Fair Market Value of a share of Stock as of any date shall be the closing price for a share of Stock as reported on the
Nasdaq Stock Market (or on any national securities exchange on which the Stock is then listed) for such date or, if no such price is reported for that date, the closing price on the next preceding date for which such price is reported. 

 
 (p) “Incentive Stock Option” means an Option that is intended to
meet the requirements of Section 422 of the Code or any successor provision thereto. 
  
 (q) “Independent Director” means a member of the Board who is not an Employee of the Company or any affiliate of the Company. 
  
 (r) “Non-Employee Director” means a member of the Board who qualifies as a “Non-Employee Director” as
defined in Rule 16b-3(b)(3) of the Exchange Act, or any successor definition adopted by the Board. 
  
 (s) “Non-Qualified Stock Option” means an Option that is not intended to be an Incentive Stock Option. 
  
 (t) “Option” means a right granted to a Participant pursuant to
Article 4 of the Plan to purchase a specified number of shares of Stock at a specified price during specified time periods. An Option may be either an Incentive Stock Option or a Non-Qualified Stock Option. 
  

 4 

 (u) “Other Stock-Based Award” means an Award granted or denominated in Stock or units of Stock
pursuant to Article 7 of the Plan. 
  
 (v) “Participant”
means a person who, as an Independent Director, Consultant or Employee, has been granted an Award pursuant to the Plan. 
  
 (w) “Performance-Based Award” means an Award granted to selected Covered Employees pursuant to Articles 5 and 7, but which is subject to the
terms and conditions set forth in Article 8. All Performance-Based Awards are intended to qualify as Qualified Performance-Based Compensation. 
  
 (x) “Performance Criteria” means the criteria that the Administrator selects for purposes of establishing the Performance Goal or Performance
Goals for a Participant for a Performance Period. The Performance Criteria that will be used to establish Performance Goals are limited to the following: net earnings (either before or after any of adjustments for interest, taxes, depreciation and
amortization), economic value-added (as determined by the Administrator), sales or revenue, net income (either before or after taxes), operating earnings, cash flow (including, but not limited to, operating cash flow and free cash flow), cash flow
return on capital, return on net assets, return on stockholders’ equity, return on assets, return on capital, stockholder returns, return on sales, gross or net profit margin, productivity, expense, margins, operating efficiency, customer
satisfaction, working capital, earnings per share, price per share of Stock, and market share, any of which may be measured either in absolute terms or as compared to any incremental increase or as compared to results of a peer group. The
Administrator shall, within the time prescribed by Section 162(m) of the Code, define in an objective fashion the manner of calculating the Performance Criteria it selects to use for such Performance Period for such Participant. 
  
 (y) “Performance Goals” means, for a Performance Period, the goals
established in writing by the Administrator for the Performance Period based upon the Performance Criteria. Depending on the Performance Criteria used to establish such Performance Goals, the Performance Goals may be expressed in terms of overall
Company performance or the performance of a division, business unit, or an individual. The Administrator, in its discretion, may, within the time prescribed by Section 162(m) of the Code, adjust or modify the calculation of Performance Goals for
such Performance Period in order to prevent the dilution or enlargement of the rights of Participants (i) in the event of, or in anticipation of, any unusual or extraordinary corporate item, transaction, event, or development, or (ii) in recognition
of, or in anticipation of, any other unusual or nonrecurring events affecting the Company, or the financial statements of the Company, or in response to, or in anticipation of, changes in applicable laws, regulations, accounting principles, or
business conditions. 
  
 (z) “Performance Period” means
the one or more periods of time, which may be of varying and overlapping durations, as the Administrator may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s
right to, and the payment of, a Performance-Based Award. 
  

 5 

 (aa) “Performance Share” means a right granted to a Participant pursuant to Article 7, to
receive Stock, the payment of which is contingent upon achieving certain performance goals established by the Administrator. 
  
 (bb) “Performance Stock Unit” means a right granted to a Participant pursuant to Article 7, to receive Stock, the payment of which is contingent
upon achieving certain performance goals established by the Administrator. 
  
 (cc) “Plan” means this The Sands Regent 2004 Equity Incentive Award Plan, as it may be amended and or restated from time to time. 
  
 (dd) “Qualified Performance-Based Compensation” means any compensation that is intended to qualify as
“qualified performance-based compensation” as described in Section 162(m)(4)(C) of the Code. 
  
 (ee) “Restricted Stock” means Stock awarded to a Participant pursuant to Article 5 that is subject to certain restrictions and may be subject to
risk of forfeiture. 
  
 (ff) “Restricted Stock Unit”
means an Award granted pursuant to Section 7.5. 
  
 (gg)
“Stock” means the common stock of the Company, par value $0.10 per share, and such other securities of the Company that may be substituted for Stock pursuant to Article 10. 
  
 (hh) “Stock Appreciation Right” or “SAR” means a right granted pursuant to Article 6 to receive a
payment equal to the excess of the Fair Market Value of a specified number of shares of Stock on the date the SAR is exercised over the Fair Market Value on the date the SAR was granted as set forth in the applicable Award Agreement. 
  
 (ii) “Stock Payment” means (a) a payment in the form of shares of
Stock, or (b) an option or other right to purchase shares of Stock, as part of any bonus, deferred compensation or other arrangement, made in lieu of all or any portion of the compensation, granted pursuant to Article 7. 
  
 (jj) “Subsidiary” means any corporation or other entity of which a
majority of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Company. 
  
 ARTICLE 2 
 SHARES 
  
 2.1 Number of Shares. 
  
 (a) Subject to adjustments pursuant to Article 10, the aggregate number of
shares of Stock which may be issued or transferred pursuant to Awards under the Plan shall be Five Hundred Thousand (500,000) shares. 
  

 6 

 (b) To the extent that an Award expires or terminates or is settled in cash, forfeited or cancelled for
any reason prior to full issuance of the shares subject thereto, any shares of Stock remaining subject to the Award at such time shall again be available for the grant of an Award pursuant to the Plan. Additionally, any shares of Stock tendered or
withheld to satisfy the grant or exercise price or tax withholding obligation pursuant to any Award shall again be available for the grant of an Award pursuant to the Plan. To the extent permitted by application of law or any exchange rule, shares
of Stock issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by the Company or any Subsidiary shall not be counted against shares of Stock available for grant pursuant to this
plan. 
  
 2.2 Stock Distributed. Any stock distributed pursuant to an Award
may consist, in whole or in part, of authorized, unissued Stock, treasury Stock or Stock purchased upon the open market. 
  
 2.3 Limitation on Number of Shares Subject to Awards. Subject to adjustments pursuant to Article 10, the maximum number of shares of Stock with respect to one or
more awards that may be granted to any one Participant during a one-year period (measured from the date of any grant) shall be Two Hundred Thousand (200,000) shares. 
  
 ARTICLE 3 
 PARTICIPATION 
  
 Subject to the provisions
of this Plan, the Administrator may, from time to time, select from among all Employees, Consultants and Independent Directors, those to whom Awards shall be granted and shall determine the nature and amount of each Award. No individual shall have
any right to be granted an Award under this Plan. All Awards shall be evidenced by a written Award Agreement between the Company and the Participant. The Award Agreement shall include such additional provisions, not inconsistent with the terms of
this Plan, as may be specified by the Administrator. 
  
 ARTICLE
4 
 STOCK OPTIONS 
  
 4.1 General. The Administrator is authorized to grant Options to Employees, Consultants and Independent Directors on the following terms and conditions:

  
 (a) Exercise Price. The exercise price per share of
Stock subject to an Option shall be determined by the Administrator and set forth in the Award Agreement; provided that the exercise price for any Option shall not be less than 100% of Fair Market Value on the date of the grant. 

 
 (b) Time and Conditions of Exercise. The Administrator shall
determine the time or times at which an Option may be exercised in whole or in part, provided that the 
  

 7 

 term of any Option granted under the Plan shall not exceed ten years. The Administrator shall also determine the
performance or other conditions, if any, that must be satisfied before all or part of an Option may be exercised. No portion of an Option which is unexercisable at termination of the Participant’s employment or service, as applicable, shall
thereafter become exercisable, except as may be otherwise provided by the Administrator either in the Award Agreement or by action following the grant of the Option. Unless otherwise provided in an Award Agreement or otherwise provided by the
Administrator after the grant of an Option, an Option will lapse immediately if a Participant’s employment is terminated for Cause. 
  
 (c) Payment. The Administrator shall determine the methods by which the exercise price of an Option may be paid, the form of payment, including,
without limitation, (i) cash or check, (ii) promissory note bearing interest at no less than such rate as shall then preclude the imputation of interest under the Code, (iii) shares of Stock issuable upon Option exercise or held by the Participant
for the requisite period necessary to avoid a charge to the Company’s earnings for financial reporting purposes and, in each case, with a Fair Market Value on the date of surrender equal to the Option exercise price, (iv) delivery of a notice
that the Participant has placed a market sell order with a broker with respect to shares of Stock then issuable upon exercise of the Option, and the broker timely pays a sufficient portion of the net proceeds of the sale to the Company, or (v) other
property acceptable to the Administrator. The Administrator shall also determine the methods by which shares of Stock shall be delivered or deemed to be delivered to Participants. Notwithstanding any other provision of the Plan to the contrary, no
Participant who is a member of the Board or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to pay the exercise price of an Option in any method which would violate Section
13(k) of the Exchange Act. 
  
 4.2 Incentive Stock Options. Incentive Stock
Options shall be granted only to Employees. The terms of any Incentive Stock Options must comply with the following additional provisions of this Section 4.2. 
  

(a) Exercise Price. The exercise price per share of Stock shall be set by the Administrator, provided that the exercise price for
any Incentive Stock Option shall not be less than 100% of the Fair Market Value on the date of the grant. 
  
 (b) Limitation of Size. The aggregate Fair Market Value (determined as of the date of the grant of the Option) of all shares of Stock with respect
to which Incentive Stock Options are first exercisable by a Participant in any calendar year may not exceed $100,000.00 or such other limitation as imposed by Section 422(d) of the Code, or any successor provision. To the extent that Incentive Stock
Options are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Stock Options. 
  
 (c) Ten Percent Owners. An Incentive Stock Option shall be granted to any individual who, at the date of the grant, owns stock possessing more than
ten percent of 
  

 8 

 the total combined voting power of all classes of Stock of the Company only if such Option is granted at a price that is
not less than 110% of Fair Market Value on the date of grant and the Option is exercisable for no more than five years from the date of the grant. 
  
 (d) Transfer Restriction. The Participant shall give the Company prompt notice of any disposition of shares of Stock acquired by exercise of an
Incentive Stock Option within (1) two years from the date of grant of such Incentive Stock Option, or (2) one year after the transfer of such shares of Stock to the Participant. 
  
 (e) Expiration of Incentive Stock Options. No Award of an Incentive Stock Option may be made pursuant to this Plan
after the tenth anniversary of the Effective Date. 
  
 (f)
Right to Exercise. During the Participant’s lifetime, an Incentive Stock Option may be exercised only by the Participant. 
  
 4.3 Substitution of Stock Appreciation Rights. The committee may provide in the Award Agreement evidencing the grant of an Option that the Administrator, in its
sole discretion, shall have the right to substitute a Stock Appreciation Right for such Option at any time prior to or upon exercise of such Option, provided that such Stock Appreciation Right shall be exercisable for the same number of
shares of Stock for which such substituted Option would have been exercisable. 
  
 ARTICLE 5 
 RESTRICTED STOCK AWARDS 
  
 5.1 Grant of Restricted Stock. The Administrator is authorized to make Awards of
Restricted Stock to any Employee, Consultant or Independent Director selected by the Administrator in such amounts and subject to such terms and conditions as determined by the Administrator. 
  
 5.2 Issuance and Restrictions. Restricted Stock shall be subject to such restrictions
on transferability and other restrictions as the Administrator may impose (including, without limitation, limitations on the right to vote Restricted Stock, or the right to receive dividends on Restricted Stock). These restrictions may lapse
separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as the Administrator determines at the time of the grant of the Award, or thereafter. 
  
 5.3 Forfeiture. Except as otherwise determined by the Administrator at the time of the
grant of the Award, or thereafter, upon termination of employment or service during the applicable restriction period, Restricted Stock that is at that time subject to restrictions shall be forfeited; provided however, that the Administrator
may provide in any Award Agreement that restrictions or forfeiture conditions related to the Restricted Stock will be waived in whole or in part in the event of terminations resulting from 
  

 9 

 specified causes, and the Administrator may in other cases waive in whole or in part restrictions or forfeiture
conditions related to Restricted Stock. 
  
 5.4 Certificates for Restricted
Stock. Restricted Stock granted pursuant to the Plan may be evidenced in such manner as the Administrator shall determine. If certificates representing shares of Restricted Stock are registered in the name of the Participant, certificates must
bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock, and the Company may, at its discretion, retain possession of certificates until such time as all applicable restrictions lapse.

  
 ARTICLE 6 
 STOCK APPRECIATION RIGHTS 
  
 6.1 Grant of Stock Appreciation Rights. A Stock Appreciation Right may be granted to any Employee, Consultant or Independent Director selected by the
Administrator. A Stock Appreciation Right may be granted (a) in connection and simultaneously with the grant of an Option, (b) with respect to a previously granted Option, or (c) independent of an Option. A Stock Appreciation Right shall be subject
to such terms and conditions not inconsistent with the Plan as the Administrator shall impose. 
  
 6.2 Coupled Stock Appreciation Rights. 
  
 (a) A Coupled Stock Appreciation Right (“CSAR”) shall be related to a particular Option and shall be exercisable only when and to the extent the related Option is exercisable. 
  
 (b) A CSAR may be granted for no more than the number of shares subject to
the simultaneously or previously granted Option to which it is coupled. 
  
 (c) A CSAR shall entitle the Participant (or other person entitled to exercise the Option pursuant to the Plan) to surrender to the Company unexercised a portion of the Option to which the CSAR relates (to the extent then exercisable
pursuant to its terms) and to receive from the Company in exchange therefore an amount determined by multiplying the difference obtained by subtracting the Option exercise price from the Fair Market Value of a share of Stock on the date of exercise
of the CSAR by the number of shares of Stock with respect to which the CSAR shall have been exercised, subject to any limitations the Administrator may impose. 
  

6.3 Independent Stock Appreciation Rights. 
  
 (a) An Independent Stock Appreciation Right (“ISAR”) shall be unrelated to any Option and shall have a term, shall be exercisable in such
installments and shall cover such number of shares of Stock as the Administrator may determine. The exercise price per share of Stock subject to each ISAR shall be set by the Administrator; provided, however, that the committee, in its sole
and absolute discretion, may provide that the ISAR may be exercised subsequent to a termination of employment or service, 
  

 10 

 as applicable, or following a Change in Control of the Company, or because of the Participant’s retirement, death or
Disability, or otherwise. 
  
 (b) An ISAR shall entitle the
Participant (or other person entitled to exercise the ISAR pursuant to the Plan) to exercise all or a specified portion of the ISAR (to the extent then exercisable pursuant to its terms) and to receive from the Company an amount determined by
multiplying the difference obtained by subtracting the exercise price per share of the ISAR from the Fair Market Value of a share of Stock on the date of exercise of the ISAR by the number of shares of Stock with respect to which the ISAR shall have
been exercised, subject to any limitations the Administrator may impose. 
  
 6.4 Payment and Limitation on Exercise. 
  
 (a) Payment of the amounts determined under Sections 6.2(c) and 6.3(b) above shall be in cash, in Stock (based upon Fair Market Value as of the date the Stock Appreciation Right is exercised) or a combination of both, as determined
by the Administrator. 
  
 (b) To the extent any payment under
Section 6.2(c) or 6.3(b) is effected in Stock it shall be subject to satisfaction of all provisions of Article 4 above pertaining to Options. 
  
 ARTICLE 7 
 OTHER TYPES OF AWARDS

  
 7.1 Performance Share Awards. Any Employee, Consultant or
Independent Director selected by the Administrator may be granted one or more Performance Share awards which shall be denominated in numbers of shares of Stock and which may be linked to any one or more of the Performance Criteria or other specific
criteria determined to be appropriate by the Administrator, in each case on a specified date or dates or over any period or periods determined by the Administrator. In making such determinations, the Administrator shall consider (among such other
factors as it deems relevant in light of the specific type of award) the contributions, responsibilities and other compensation of the particular Participant. 
  

7.2 Performance Stock Units. Any Employee, Consultant or Independent Director selected by the Administrator may be granted one or more Performance Stock Unit
awards which shall be denominated in units of value including dollar value of Stock and which may be linked to any one or more of the Performance Criteria or other specific criteria determined to be appropriate by the Administrator, in each case on
a specified date or dates or over any period or periods determined by the Administrator. In making such determinations, the Administrator shall consider (among such other factors as it deems relevant in light of the specific type of award) the
contributions, responsibilities and other compensation of the particular Participant. 
  

 11 

 7.3 Stock Payments. Any Employee, Consultant or Independent Director selected by the Administrator may receive
Stock Payments in the manner determined from time to time by the Administrator. The number of shares shall be determined by the Administrator and may be based upon the Performance Criteria or other specific criteria determined appropriate by the
Administrator, determined on the date such Stock Payment is made or on any date thereafter. 
  
 7.4 Deferred Stock. Any Employee, Consultant or Independent Director selected by the Administrator may be granted an award of Deferred Stock in the manner determined from time to time by the Administrator. The
number of shares of Deferred Stock shall be determined by the Administrator and may be linked to the Performance Criteria or other specific criteria determined to be appropriate by the Administrator, in each case on a specified date or dates or over
any period or periods determined by the Administrator. Stock underlying a Deferred Stock award will not be issued until the Deferred Stock award has vested, pursuant to a vesting schedule or performance criteria set by the Administrator. Unless
otherwise provided by the Administrator, a Participant awarded a Deferred Stock award shall have no rights as a Company stockholder with respect to such Deferred Stock, until such time as the Deferred Stock award has vested and the Stock underlying
the Deferred Stock award has been issued. 
  
 7.5 Restricted Stock Units.
Any Employee, Consultant or Independent Director selected by the Administrator may be granted one or more Restricted Stock Unit awards in such amounts and subject to such terms and conditions as the Administrator may determine. At the time of
the grant, the Administrator shall specify the date or dates on which the Restricted Stock Units shall become fully vested and nonforfeitable, and may specify such conditions to vesting as it deems appropriate. At the time of the grant, the
Administrator shall specify the maturity date applicable to each grant of Restricted Stock Units which shall be no earlier than the vesting date or dates of the Award and may be determined at the election of the grantee. On the maturity date, the
Company shall transfer to the Participant one unrestricted, fully transferable share of Stock for each Restricted Stock Unit scheduled to be paid which shall be denominated in units of value including dollar value of Stock and which may be linked to
any one or more of the Performance Criteria or other specific criteria determined to be appropriate by the Administrator, in each case on a specified date or dates or over any period or periods determined by the Administrator. In making such
determinations, the Administrator shall consider (among such other factors as it deems relevant in light of the specific type of award) the contributions, responsibilities and other compensation of the particular Participant. 
  
 7.6 Other Stock-Based Awards. Any Employee, Consultant or Independent Director
selected by the Administrator may be granted one or more Awards that provide such individual with shares of Stock or the right to purchase shares of Stock or that have a value derived from the value of, or an exercise or conversion privilege at a
price related to, or that are otherwise payable in shares of Stock and which may be linked to any one or more of the Performance Criteria or other specific criteria determined 
  

 12 

 appropriate by the Administrator, in each case on a specified date or dates or over any period or periods determined by
the Administrator. 
  
 7.6 Terms and Conditions. The Administrator shall
establish the purchase price, if any, of any Award granted under this Article 7 consistent with any applicable requirements of state law. An Award granted under this Article 7 shall only be exercisable or payable while the Participant is an
Employee, Consultant or an Independent Director, as applicable; provided, however, that the Administrator in its sole and absolute discretion may provide that any such Award may be exercised or paid subsequent to a termination of employment
or service, as applicable, or following a Change in Control of the Company, or because of the Participant’s retirement, death or disability, or otherwise. Payments with respect to any Awards granted under this Article 7 shall be made in cash,
in Stock or a combination of both, as determined by the Administrator. 
  
 ARTICLE 8 
 PERFORMANCE-BASED AWARDS 
  
 8.1 Purpose. The purpose of this Article 8 is to provide the Administrator the ability to qualify Awards (other than Options and
SARs) and that are granted pursuant to Article 5 or 7 as Qualified Performance-Based Compensation. If the Administrator, in its discretion, decides to grant a Performance-Based Award to a Covered Employee, the provisions of this Article 8 shall
control over any contrary provision contained in Article 5 or 7; provided, however, that the Administrator may in its discretion grant Awards to Covered Employees that are based on Performance Criteria or Performance Goals but that do not
satisfy the requirements of this Article 8. 
  
 8.2 Applicability. This
Article 8 shall apply only to those Covered Employees selected by the Administrator to receive Performance-Based Awards. The designation of a Covered Employee as a Participant for a Performance Period shall not in any manner entitle the Participant
to receive an Award for the period. Moreover, designation of a Covered Employee as a Participant for a particular Performance Period shall not require designation of such Covered Employee as a Participant in any subsequent Performance Period and
designation of one Covered Employee as a Participant shall not require designation of any other Covered Employees as a Participant in such period or in any other period. 
  
 8.3 Procedures with Respect to Performance-Based Awards. To the extent necessary to comply with the Qualified Performance-Based
Compensation requirements of Section 162(m)(4)(C) of the Code, with respect to any Award granted under Articles 5 and 7 which may be granted to one or more Covered Employees, no later than ninety (90) days following the commencement of any fiscal
year in question or any other designated fiscal period or period of service (or such other time as may be required or permitted by Section 162(m) of the Code), the Administrator shall, in writing, (i) designate one or more Covered Employees, (ii)
select the Performance Criteria 
  

 13 

 applicable to the Performance Period, (iii) establish the Performance Goals, and amounts of such Awards, as applicable,
which may be earned for such Performance Period, and (iv) specify the relationship between Performance Criteria and the Performance Goals and the amounts of such Awards, as applicable, to be earned by each Covered Employee for such Performance
Period. Following the completion of each Performance Period, the Administrator shall certify in writing whether the applicable Performance Goals have been achieved for such Performance Period. In determining the amount earned by a Covered Employee,
the Administrator shall have the right to reduce or eliminate (but not to increase) the amount payable at a given level of performance to take into account additional factors that the Administrator may deem relevant to the assessment of individual
or corporate performance for the Performance Period. 
  
 8.4 Payment of
Performance-Based Awards. Unless otherwise provided in the applicable Award Agreement, a Participant must be employed by the Company or a Subsidiary on the day a Performance-Based Award for such Performance Period is paid to the Participant.
Furthermore, a Participant shall be eligible to receive payment pursuant to a Performance-Based Award for a Performance Period only if the Performance Goals for such period are achieved. In determining the amount earned under a Performance-Based
Award, the Administrator may reduce or eliminate the amount of the Performance-Based Award earned for the Performance Period, if in its sole and absolute discretion, such reduction or elimination is appropriate. 
  
 8.5 Additional Limitations. Notwithstanding any other provision of the Plan, any Award
which is granted to a Covered Employee and is intended to constitute Qualified Performance-Based Compensation shall be subject to any additional limitations set forth in Section 162(m) of the Code (including any amendment to Section 162(m) of the
Code) or any regulations or rulings issued thereunder that are requirements for qualification as qualified performance-based compensation as described in Section 162(m)(4)(C) of the Code, and the Plan shall be deemed amended to the extent necessary
to conform to such requirements. 
  
 ARTICLE 9 

PROVISIONS APPLICABLE TO AWARDS 
  
 9.1 Stand-Alone and Tandem Awards. Awards granted pursuant to the Plan may, in the discretion of the Administrator, be granted either alone, in addition to, or in
tandem with, any other Award granted pursuant to the Plan. Awards granted in addition to or in tandem with other Awards may be granted either at the same time as or at a different time from the grant of such other Awards. 
  
 9.2 Award Agreement. Awards under the Plan shall be evidenced by Award Agreements that
set forth the terms, conditions and limitations for each Award which may include the term of an Award, the provisions applicable in the event the Participant’s employment or service terminates, and the Company’s authority to unilaterally
or bilaterally amend, modify, suspend, cancel or rescind an Award. 
  

 14 

 9.3 Effect of Termination for Cause. Unless expressly provided otherwise in an Award Agreement or by the
Administrator after the grant of an Award, a Participant’s Awards and all rights thereunder shall be forfeited immediately if a Participant’s employment is terminated for Cause. 
  
 9.4 Limits on Transfer. No right or interest of a Participant in any Award may be pledged, encumbered, or hypothecated to or in favor
of any party other than the Company or a Subsidiary, or shall be subject to any lien, obligation, or liability of such Participant to any other party other than the Company or a Subsidiary. Except as otherwise provided by the Administrator, no Award
shall be assigned, transferred, or otherwise disposed of by a Participant other than by will or the laws of descent and distribution. The Administrator by express provision in the Award or an amendment thereto may permit an Award (other than an
Incentive Stock Option) to be transferred to, exercised by and paid to certain persons or entities related to the Participant, including but not limited to member’s of the Participant’s family, charitable institutions, or trusts or other
entities whose beneficiaries or beneficial owner’s are member’s of the Participant’s family and/or charitable institutions, or to such other persons or entities as may be expressly approved by the Administrator, pursuant to such
conditions and procedures as the Administrator may establish. Any permitted transfer shall be subject to the condition that the Administrator receive evidence satisfactory to it that the transfer is being made for estate and/or tax planning purposes
(or to a “blind trust” in connection with the Participant’s termination of employment or service with the Company or a Subsidiary to assume a position with a governmental, charitable, educational or similar non-profit institution) and
on a basis consistent with the Company’s lawful issue of securities. 
  
 9.5 Beneficiaries. Notwithstanding Section 9.4, a Participant may, in the manner determined by the Administrator, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any
Award upon the Participant’s death. A beneficiary, legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the
Participant, except to the extent the Plan and Award Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Administrator. If the Participant is married and resides in a community property state, a
designation of a person other than the Participant’s spouse as his or her beneficiary with respect to more than 50% of the Participant’s interest in the Award shall not be effective without the prior written consent of the
Participant’s spouse. If no beneficiary has been designated or survives the Participant, payment shall be made to the person entitled thereto pursuant to the Participant’s will or the laws of descent and distribution. Subject to the
foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided the change or revocation is filed with the Administrator. 
  

9.6 Stock Certificates. Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates evidencing
shares of 
  

 15 

 Stock pursuant to the exercise of any Award, unless and until the Board has determined, with advice of counsel, that the
issuance and delivery of such certificates is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the shares of Stock are listed or traded. All Stock delivered
pursuant to the Plan are subject to any stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with federal, state, or foreign jurisdiction, securities or other laws, rules and regulations and the
rules of any national securities exchange or automated quotation system on which the Stock is listed, quoted, or traded, The Administrator may place legends on any Stock certificate to reference restrictions applicable to the Stock. In addition to
the terms and conditions provided herein, the Board may require that a Participant make such reasonable covenants, agreements, and representations as the Board, in its discretion, deems advisable in order to comply with any such laws, regulations,
or requirements. The Administrator shall have the right to require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including a window-period limitation, as may be imposed in
the discretion of the Administrator. 
  
 9.7 Modification of Awards. At any
time after grant of an Award, the Administrator may, in its sole and absolute discretion and subject to whatever terms and conditions it selects: 
  
 (a) accelerate the period during which the Award vests or becomes exerciseable or payable; and 
  
 (b) accelerate the time when applicable restrictions or risk of
forfeiture or repurchase lapses; and 
  
 (c) extend the
period during which the Award may be exercised or paid; and extend the term of any Award (other than the maximum ten year term of Options). 
  
 ARTICLE 10 
 CHANGES IN CAPITAL
STRUCTURE 
  
 10.1 Adjustments. 
  
 (a) In the event of any stock dividend, stock split, combination or
exchange of shares, merger, consolidation, spin-off, recapitalization or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other change affecting the shares of Stock or the share price of the Stock, the
Administrator shall make such proportionate adjustments, if any, as the Administrator in its discretion may deem appropriate to reflect such change with respect to (i) the aggregate number and type of shares that may be issued under the Plan
(including, but not limited to, adjustments of the limitations in Sections 2.1 and 2.3); (ii) the terms, and conditions of any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto,
including any Performance Criteria); and (iii) the grant or exercise price per share for any outstanding Awards under the Plan. Any adjustment affecting an Award intended as Qualified Performance-Based Compensation shall be made consistent with the
requirements of Section 162(m) of the Code. 
  

 16 

 (b) In the event of any transaction or event described in Section 10.1(a) or any unusual or
nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the Company or any affiliate (including without limitation any Change in Control), or of changes in applicable laws, regulations
or accounting principles, and whenever the Administrator determines that action is appropriate in order to prevent the dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any
Award under the Plan, to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles, the Administrator, in its sole discretion and on such terms and conditions as it deems appropriate, either by
amendment of the terms of any outstanding Awards or by action taken prior to the occurrence of such transaction or event and either automatically or upon the Participant’s request, is hereby authorized to take any one or more of the following
actions: 
  
 (1) To provide for either (A) termination of any such
Award in exchange for an amount of cash, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights (and, for the avoidance of doubt, if as of the date of the occurrence
of the transaction or event described in this Section 10.1(b) the Administrator determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’s rights, then such Award may be
terminated by the Company without payment) or (B) the replacement of such Award with other rights or property selected by the Administrator in its sole discretion; 
  
 (2) To provide that such Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or
shall be substituted for by similar options, rights or awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; and

  
 (3) To make adjustments in the number and type of shares of
common Stock (or other securities or property) subject to outstanding Awards, and in the number and kind of outstanding Restricted Stock or Deferred Stock and/or in the terms and conditions of (including the grant or exercise price), and the
criteria included in, outstanding options, rights and awards and options, rights and awards which may be granted in the future; 
  
 (4) To provide that such Award shall be exercisable or payable or fully vested with respect to all shares covered thereby, notwithstanding anything to the
contrary in the Plan or the applicable Award Agreement; and 
  
 (5) To provide that the Award cannot vest, be exercised or become payable after such event. 
  

 17 

 10.2 Outstanding Awards—Certain Mergers. Subject to any required action by the stockholders of the Company,
in the event that the Company shall be the surviving corporation in any merger or consolidation (except a merger or consolidation as a result of which the holders of shares of Stock receive securities of another corporation), each Award outstanding
on the date of such merger or consolidation shall pertain to and apply to the securities that a holder of the number of shares of Stock subject to such Award would have received in such merger or consolidation. 
  
 10.3 Outstanding Awards—Other Changes. In the event of any other change in the
capitalization of the Company or corporate change other than those specifically referred to in this Article 10, the Administrator may, in its absolute discretion, make such adjustments in the number and class of shares subject to Awards outstanding
on the date on which such change occurs and in the per share grant or exercise price of each Award as the Administrator may consider appropriate to prevent dilution or enlargement of rights. 
  
 10.4 No Other Rights. Except as expressly provided in the Plan, no Participant shall
have any rights by reason of any subdivision or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution, liquidation, merger, or
consolidation of the Company or any other corporation. Except as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into
shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Stock subject to an Award or the grant or exercise price of any Award. 
  
 ARTICLE 11 
 ADMINISTRATION 
  
 11.1 Committee. The Plan shall be administered by the Compensation and Governance Committee of the Board; provided, however, that, with respect to Awards granted to Independent Directors, the Plan shall be administered by the
Board. It is the intent of the Board that the Compensation and Governance Committee shall consist of at least two individuals, each of whom qualifies as (i) a Non-Employee Director, and (ii) an “outside director” pursuant to Code Section
162(m) and the regulations issued thereunder. The Committee shall be subject to such restrictions and limitations as the Board may specify from time to time. The Board may remove the Compensation and Governance Committee as administrator of the Plan
at any time and reassume all powers and authority previously delegated to such committee. Reference to the Committee shall refer to the Board if the Compensation and Governance Committee ceases to exist and the Board does not appoint a successor
Committee. 
  
 11.2 Action by the Administrator. The Administrator shall
act by a majority of its members in attendance at a meeting at which a quorum is present or by a memorandum or other written instrument signed by all members of the Administrator. A 
  

 18 

 majority of the members shall constitute a quorum. Each member of the Committee is entitled to, in good faith, rely or
act upon any report or other information furnished to that member by any officer or other employee of the Company or any Subsidiary, the Company’s independent certified public accountants, or any executive compensation consultant or other
professional retained by the Company to assist in the administration of the Plan 
  
 11.3 Authority of Administrator. Subject to any specific designation in the Plan, the Administrator has the exclusive power, authority and discretion to: 
  
 (a) Designate the Employees, Consultants and Independent Directors to receive Awards; 
  
 (b) Determine the type or types of Awards to be granted; 
  
 (c) Determine the number of Awards to be granted and the number of shares of
Stock to which an Award will relate; 
  
 (d) Determine the terms
and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant price, or purchase price, any reload provision, any restrictions or limitations on the Award, any schedule for lapse of forfeiture
restrictions or restrictions on the ability to exercise an Award, and accelerations or waivers thereof, any provisions related to non-competition and recapture of gain on an Award, based in each case on such considerations as the Administrator in
its sole discretion determines; provided, however, that the Administrator shall not have the authority to accelerate the vesting or waive the forfeiture of any Performance-Based Awards; 
  
 (e) Determine whether, to what extent, and pursuant to what circumstances an
Award may be settled in, or the exercise price of an Award may be paid in, cash, Stock, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; 
  
 (f) Prescribe the form of each Award Agreement, which need not be identical for each Participant; 
  
 (g) Decide all other matters that must be determined in connection with an
Award; 
  
 (h) Establish, adopt, or revise any rules and
regulations as it may deem necessary or advisable to administer the Plan; 
  
 (i) Interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement; and 
  

 19 

 (j) Make all other decisions and determinations that may be required pursuant to the Plan or as the
Administrator deems necessary or advisable to administer the Plan. 
  
 11.4
Decisions Binding. The Administrator’s interpretation of the Plan, any Awards granted pursuant to the Plan, any Award Agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and
conclusive on all parties. 
  
 11.5 Delegation of Authority. To the extent
permitted by applicable law, the Board or Committee may from time to time delegate to a committee of one or more members of the Board or one or more officers of the Company the authority to grant or amend Awards to Employees and Consultants other
than (a) senior executives of the Company who are subject to Section 16 of the Exchange Act, (b) Covered Employees, or (c) officers of the Company (or members of the Board) to whom authority to grant or amend Awards has been delegated hereunder. Any
delegation hereunder shall be subject to the restrictions and limits that the Board or Committee specifies at the time of such delegation, and the Board or Committee may at any time rescind the authority so delegated or appoint a new delegatee. At
all times, the delegatee appointed under this Section 11.5 shall serve in such capacity at the pleasure of the Board or Committee appointing the same. 
  
 ARTICLE 12 
 EFFECTIVE AND EXPIRATION
DATE 
  
 12.1 Effective Date. The Plan is effective as of August 23,
2004, the date the Plan was approved by the Company’s Board, subject to stockholder approval (the “Effective Date”). 
  
 12.2 Expiration Date. The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth anniversary of the Effective Date. Any Awards that
are outstanding on the tenth anniversary of the Effective Date shall remain in force according to the terms of the Plan and the applicable Award Agreement. 
  
 ARTICLE 13 
 AMENDMENT, MODIFICATION,
AND TERMINATION 
  
 13.1 Amendment, Modification and Termination. At
any time and from time to time, the Administrator may terminate, amend or modify the Plan; provided, however, that (i) to the extent necessary and desirable to comply with any applicable law, regulation, or stock exchange rule, the Company
shall obtain stockholder approval of any Plan amendment in such a manner and to such a degree as required, and (ii) stockholder approval is required for any amendment to the Plan that (A) increases the number of shares available under the Plan
(other than any adjustment as provided by Article 10), or (B) permits the Administrator to extend the exercise period for an Option beyond ten years from the date of grant. Notwithstanding any provision in this Plan to 
  

 20 

 the contrary, absent approval of the stockholders of the Company, no Option may be amended to reduce the per share
exercise price of the shares subject to such Option below the per share exercise price as of the date the Option is granted and, except as permitted by Article 10, no Option may be granted in exchange for, or in connection with, the cancellation or
surrender of an Option having a higher per share exercise price. 
  
 13.2
Awards Previously Granted. No termination, amendment, or modification of the Plan shall adversely affect in any material way any Award previously granted pursuant to the Plan without the prior written consent of the Participant. 
  
 ARTICLE 14 
 GENERAL PROVISIONS 
  
 14. 1 No Rights to Awards. No Participant, employee, or other person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the Administrator is obligated to treat Participants, employees, and
other persons uniformly. 
  
 14.2 No Stockholders Rights. No Award gives
the Participant any of the rights of a stockholder of the Company unless and until shares of Stock are in fact issued to such person in connection with such Award. 
  
 14.3 Withholding. The Company or any Subsidiary shall have the authority 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 concerning a Participant
arising as a result of this Plan. The Administrator may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold shares of Stock otherwise issuable under an Award (or allow the
return of shares of Stock) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of shares of Stock which may be withheld with respect to the issuance, vesting, exercise or
payment of any Award (or which may be repurchased from the Participant of such Award within six months after such shares of Stock were acquired by the Participant from the Company) in order to satisfy the Participant’s federal, state, local and
foreign income and payroll tax liabilities with respect to the issuance, vesting, exercise or payment of the Award shall be limited to the number of shares which have a Fair Market Value on the date of withholding or repurchase equal to the
aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such supplemental taxable income. 
  
 14.4 No Right to Employment or Services. Nothing in the Plan or any Award Agreement
shall interfere with or limit in any way the right of the Company or any Subsidiary to terminate any Participant’s employment or services at any time, nor confer upon any Participant any right to continue in the employ or service of the Company
or any Subsidiary. 
  

 21 

 14.5 Unfunded Status of Awards. The Plan is intended to be an “unfunded” plan for incentive
compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the
Company or any Subsidiary. 
  
 14.6 Indemnification. To the extent
allowable pursuant to applicable law, each member of the Committee or of the Board shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in
connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts
paid by him or her in satisfaction of judgment in such action, suit, or proceeding against him or her, provided he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and
defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant to the Company’s Certificate of Incorporation or Bylaws, as
a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 
  
 14.7 Relationship to Other Benefits. No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance,
welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder. 
  
 14.8 Expenses. The expenses of administering the Plan shall be borne by the Company and its Subsidiaries. 
  
 14.8 Title’s and Headings. The titles and headings of the Sections in the Plan
are for convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 
  
 14.9 Fractional Shares. No fractional shares of Stock shall be issued and the Administrator shall determine, in its discretion, whether cash shall be given in lieu
of fractional shares or whether such fractional shares shall be eliminated by rounding up or down as appropriate. 
  
 14.10 Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded to any Participant
who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange 
  

 22 

 Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such
exemptive rule. To the extent permitted by applicable law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 
  
 14.11 Government and Other Regulations. The obligation of the Company to make payment
of awards in Stock or otherwise shall be subject to all applicable laws, rules, and regulations, and to such approvals by government agencies as may be required. The Company shall be under no obligation to register pursuant to the Securities Act of
1933, as amended, any of the shares of Stock paid pursuant to the Plan. If the shares paid pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act of 1933, as amended, the Company may restrict the
transfer of such shares in such manner as it deems advisable to ensure the availability of any such exemption. 
  
 14.12 Governing Law. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the State of Nevada. 
  

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