<SEC-DOCUMENT>0000080424-25-000257.txt : 20251030
<SEC-HEADER>0000080424-25-000257.hdr.sgml : 20251030
<ACCEPTANCE-DATETIME>20251030162818
ACCESSION NUMBER:		0000080424-25-000257
CONFORMED SUBMISSION TYPE:	S-8 POS
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20251030
DATE AS OF CHANGE:		20251030
EFFECTIVENESS DATE:		20251030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PROCTER & GAMBLE Co
		CENTRAL INDEX KEY:			0000080424
		STANDARD INDUSTRIAL CLASSIFICATION:	SOAP, DETERGENT, CLEANING PREPARATIONS, PERFUMES, COSMETICS [2840]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				310411980
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		S-8 POS
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-234131
		FILM NUMBER:		251436098

	BUSINESS ADDRESS:	
		STREET 1:		ONE PROCTER & GAMBLE PLAZA
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202
		BUSINESS PHONE:		5139831100

	MAIL ADDRESS:	
		STREET 1:		ONE PROCTER & GAMBLE PLAZA
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PROCTER & GAMBLE CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8 POS
<SEQUENCE>1
<FILENAME>post-effectiveamendmenttos.htm
<DESCRIPTION>S-8 POS
<TEXT>
<html><head>
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<title>Document</title></head><body><div id="ie555f78f59774e0791a4aecd80551d4d_1"></div><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="-sec-extract:summary;text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Registration No. 333-234131</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">WASHINGTON, D. C. 20549</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">POST-EFFECTIVE AMENDMENT NO. 1</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">TO</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">FORM S-8</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">REGISTRATION STATEMENT</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">UNDER</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">THE SECURITIES ACT OF 1933</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">THE PROCTER &#38; GAMBLE COMPANY</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(Exact name of registrant as specified in its charter)</font></div><div><font><br></font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.92pt;padding-right:0.92pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:100%">Ohio</font></div><div style="padding-left:0.92pt;padding-right:0.92pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(State or other jurisdiction of </font></div><div style="padding-left:0.92pt;padding-right:0.92pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">incorporation or organization)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:100%">001-00434</font></div><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(Commission File Number)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:100%">31-0411980</font></div><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(I.R.S. Employer Identification Number)</font></div></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.92pt;padding-right:3.92pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">One Procter &#38; Gamble Plaza</font></div><div style="padding-left:3.92pt;padding-right:3.92pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">Cincinnati, Ohio 45202</font></div></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.37pt;padding-right:4.37pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(Address of principal executive offices and zip code)</font></div></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">(513) 983-1100</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:4.37pt;padding-right:4.37pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(Registrant's telephone number, including area code)</font></div></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">The Procter &#38; Gamble 2019 Stock and Incentive Compensation Plan</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">The Procter &#38; Gamble 2025 Stock and Incentive Compensation Plan</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Susan Street Whaley, Secretary</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The Procter &#38; Gamble Company</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">One Procter &#38; Gamble Plaza, Cincinnati, Ohio 45202</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(513) 983-1100</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(Name, address, including zip code, and telephone number,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">including area code, of agent for service)</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.  See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.955%"><tr><td style="width:1.0%"></td><td style="width:60.387%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:37.413%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Large accelerated filer </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:120%">x</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Accelerated filer  </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#168;</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%">Non-accelerated filer </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:125%">&#168;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%"> (Do not check if a smaller reporting company)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Smaller Reporting Company  </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#168;</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Emerging Growth Company  </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#168;</font></div></td></tr></table></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.   &#168;</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:100%">EXPLANATORY NOTE</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">On October 8, 2019, The Procter &#38; Gamble Company (the &#8220;Company&#8221; or the &#8220;Registrant&#8221;) filed its registration statement on Form S-8 (File No. 333-234131) (the &#8220;Registration Statement&#8221;) with the Securities and Exchange Commission (the &#8220;Commission&#8221;) with respect to 150,000,000 shares of the Company&#8217;s common stock (the &#8220;Common Stock&#8221;) issuable under The Procter &#38; Gamble Company 2019 Stock and Incentive Compensation Plan (the &#8220;2019 Plan&#8221;).</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">On October 14, 2025 (the &#8220;Approval Date&#8221;), the Company&#8217;s shareholders approved The Procter &#38; Gamble 2025 Stock and Incentive Compensation Plan (the &#8220;2025 Plan&#8221;).  Pursuant to the terms of the 2025 Plan, no future awards will be granted under the 2019 Plan as of the Approval Date and the following will be issuable under the 2025 Plan&#58; (i) any shares of Common Stock remaining available for awards under the 2019 Plan, and (ii) except in certain circumstances set forth in the 2025 Plan, any shares of Common Stock related to outstanding awards under the 2019 Plan that are terminated by expiration, forfeiture, cancellation or otherwise without the issuance of shares&#59; are settled in cash in lieu of shares&#59; or are exchanged with the Compensation and Leadership Development Committee's permission, prior to the issuance of shares, for an award not involving Common Stock (clauses (ii) and (iii) together, &#8220;Rollover Shares&#8221;).</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The Company is filing this Post-Effective Amendment No. 1 to the Registration Statement pursuant to Rule 512 of Regulation S-K and the Securities Act Forms Compliance and Disclosure Interpretation 126.43 to amend the Registration Statement to register the offer of up to 37,963,988 Rollover Shares under the 2025 Plan. No additional securities are being registered by this Post-Effective Amendment. The Registrant is concurrently filing a separate registration statement on Form S-8 to register the new shares of Common Stock for offer or sale pursuant to the 2025 Plan. </font></div><div style="text-indent:36pt"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">PART II</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">Item 3.&#160;&#160;&#160;&#160; INCORPORATION OF DOCUMENTS BY REFERENCE </font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The following documents filed by The Procter &#38; Gamble Company with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), are incorporated herein by reference&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:9.75pt">The Company&#8217;s Annual Report on Form </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000080424/000008042425000076/pg-20250630.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">10-K</a></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> for the fiscal year ended June 30, 2025, filed on August 4, 2025 (incorporating by reference portions of the Registrant&#8217;s Definitive Proxy Statement filed on </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000080424/000119312525191749/d875382ddef14a.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Schedule 14A</a></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> dated August 29, 2025).   </font></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:9.75pt">The Company&#8217;s Quarterly Report on Form </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000080424/000008042425000245/pg-20250930.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">10-Q</a></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> for the quarterly period ended September 30, 2025.   </font></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:9.75pt">The Company&#8217;s Current Reports on Form 8-K filed on </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000080424/000008042425000061/ceotransition.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">July 28, 2025</a></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000080424/000008042425000111/pg-20250814.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">August 14, 2025</a></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000080424/000008042425000235/pg-20251016.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">October </a><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000080424/000008042425000235/pg-20251016.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">16</a><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000080424/000008042425000235/pg-20251016.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">, 2025</a></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">. </font></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:9.75pt">The description of the Registrant&#8217;s Common Stock contained in </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/Archives/edgar/data/80424/000008042419000050/fy181910-kexhibit4x3.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Exhibit (4-3)</a></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of the Registrant&#8217;s Annual Report on Form 10-K for the year ended June 30, 2019, filed with the SEC on August 6, 2019, together with any amendments or reports filed with the SEC for the purpose of updating such description.    </font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">All reports and other documents filed by the Company pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of this Registration Statement (other than any such documents or portions thereof that are furnished under Item 2.02 or Item 7.01 of a Current Report on Form 8-K, and corresponding information furnished under Item 9.01 as an exhibit thereto, unless otherwise indicated therein, including any exhibits included with such Items) but prior to the filing of a </font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">post-effective amendment, which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold shall be incorporated by reference herein and shall be deemed to be a part hereof from the dates of filing of such reports and documents.  </font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of the Registration Statement to the extent that a statement contained herein or in any document subsequently filed with the Commission which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.  Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of the Registration Statement or any Prospectus hereunder.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">Item 4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;DESCRIPTION OF SECURITIES </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Not applicable. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">Item 5. &#160;&#160;&#160;&#160;INTERESTS OF NAMED EXPERTS AND COUNSEL</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The legality of the shares of Common Stock offered hereby is being passed upon for the Registrant by Wednesday G. Shipp, Counsel, The Procter &#38; Gamble Company, One Procter &#38; Gamble Plaza, Cincinnati, Ohio, 45202.  Ms. Shipp is the beneficial owner of shares of Common Stock of the Registrant.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">Item 6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;INDEMNIFICATION OF DIRECTORS AND OFFICERS</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Set forth below is a description of certain provisions of the Ohio Revised Code (&#8220;ORC&#8221;) and the Company&#8217;s Regulations, as such provisions relate to the indemnification of the directors and officers of the Registrant.  This description is intended only as a summary and is qualified in its entirety by reference to the ORC and the Company&#8217;s Regulations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Section 1701 of the ORC provides that a corporation must indemnify its directors, officers, employees, and agents against expenses reasonably incurred in connection with a successful defense (on the merits or otherwise) of any action, suit, or proceeding. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">A corporation may indemnify its directors, officers, employees, and agents against expenses, including attorneys&#8217; fees, judgments, fines and amounts paid in settlement, in connection with actions, suits, or proceedings (except for derivative actions by or in the right of the corporation), whether civil, criminal, administrative, or investigative.  The corporation may indemnify such persons if the individual has acted in good faith and in a manner that the individual believed to be in the best interests of the corporation and, with respect to a criminal action, had no reasonable cause to believe their conduct was unlawful. The determination as to whether this standard of conduct has been met must be made by the court, a majority of the disinterested directors, by independent legal counsel, or by the shareholders. </font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">A similar standard applies in the case of derivative actions, except that indemnification may only extend to expenses, including attorney&#8217;s fees, incurred in connection with the defense or settlement of such action. If the person seeking indemnification has been found liable to the corporation in such an action, the court must approve the indemnification.</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">As permitted by the ORC, Article IV of the Company&#8217;s Regulations require the Company to indemnify, to the fullest extent permitted by law, any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed claim, action, suit, or proceeding, whether civil, criminal, administrative, or investigative, by reason of the fact that he or she (a) is or was a Director, officer or employee of the Company or its subsidiaries, (b) is or was serving at the request of the Company or its subsidiaries as a director, trustee, officer, partner, managing member or position of similar capacity, or employee of a Company subsidiary or another corporation, limited liability company, </font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">partnership, joint venture, trust, employee benefit plan, or other enterprise (whether domestic or foreign, nonprofit or for profit), or (c) is or was providing to third party organizations volunteer services that were duly authorized in accordance with the Company&#8217;s process for approval of such activities, against all liabilities and expenses actually and reasonably incurred by or imposed on him or her in connection with, or arising out of, any such claim, action, suit or proceeding.  This indemnity will be provided unless the person (a) failed to act in good faith, in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the Company and its subsidiaries, (b) acted or failed to act, in either case, with deliberate intent to cause injury to the Company and its subsidiaries or with reckless disregard for the best interests of the Company or its subsidiaries, or (c) knowingly engaged in criminal activity.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;The Company&#8217;s Directors, officers and certain other key employees of the Company are insured by directors and officers liability insurance policies.  The Company pays the premiums for this insurance.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">Item 7.  &#160;&#160;&#160;&#160;EXEMPTION FROM REGISTRATION CLAIMED</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Not applicable.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">Item 8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;EXHIBITS  </font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:443.25pt"><tr><td style="width:1.0pt"></td><td style="width:97.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:341.50pt"></td><td style="width:1.0pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">EXHIBIT NO</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.&#160;&#160;&#160;&#160;</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">DESCRIPTION</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt 0 145pt;text-indent:-144pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="exhibit5-opinionofcounselp.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">5*</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="exhibit5-opinionofcounselp.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">Opinion of Counsel</a></font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="exhibit101-2025stockandinc.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">10-1*</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="exhibit101-2025stockandinc.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">The Procter &#38; Gamble 2025 Stock and Incentive Compensation Plan</a></font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="exhibit102-2019stockandinc.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">10-2*</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="exhibit102-2019stockandinc.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">The Procter &#38; Gamble 2019 Stock and Incentive Compensation Plan</a></font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="exhibit231-deloitteconsent.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">23-1*</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="exhibit231-deloitteconsent.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">Consent of Deloitte &#38; Touche LLP</a></font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:29pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="exhibit5-opinionofcounselp.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">23-2*</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="exhibit5-opinionofcounselp.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">Consent of Wednesday</a><a href="exhibit5-opinionofcounselp.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"> G.</a><a href="exhibit5-opinionofcounselp.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"> Shipp is contained in her opinion filed as Exhibit 5</a></font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:29pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="https://www.sec.gov/Archives/edgar/data/80424/000008042419000068/powerofattorney.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">24</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline"><a href="https://www.sec.gov/Archives/edgar/data/80424/000008042419000068/powerofattorney.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">Power of Attorney (previously filed with Registration Statement on Form S-8 (Registration No. 333-234131) on October 8, 2019)</a></font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">*Filed herewith</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">Item 9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;UNDERTAKINGS</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:5.8pt">The undersigned Registrant hereby undertakes&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:90pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:5.18pt">To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:144pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:25.63pt">To include any prospectus required by section 10(a)(3) of the Securities Act of 1933&#59;</font></div><div style="text-align:justify;text-indent:72pt"><font><br></font></div><div style="padding-left:144pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160;To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement.  Notwithstanding the foregoing, any increase or decrease in </font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="padding-left:144pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement&#59; and</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:144pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii)&#160;&#160;&#160;&#160;To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement&#59; </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:90pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:90pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:5.18pt">That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></div><div style="padding-left:90pt;text-align:justify"><font><br></font></div><div style="padding-left:90pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:5.18pt"> To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160;The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant&#8217;s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="padding-left:144pt;text-align:right;text-indent:36pt"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:100%">SIGNATURES</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">THE REGISTRANT. Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Post-Effective Amendment to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Cincinnati, State of Ohio, on October 30, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">THE PROCTER &#38; GAMBLE COMPANY</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">By&#58;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">&#47;s&#47; Andre Schulten              </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Andre Schulten</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Chief Financial Officer</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Pursuant to requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated and on October 30, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:458.25pt"><tr><td style="width:1.0pt"></td><td style="width:7.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:147.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:48.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:247.00pt"></td><td style="width:1.0pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:125%;text-decoration:underline">Signature</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:125%;text-decoration:underline">Title</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:29pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font><br></font></div><div style="padding-left:72pt"><font><br></font></div><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:10.00pt">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">John R. Moeller</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%">Chairman of the Board, President and Chief Executive Officer (Principal Executive Officer)</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Andre Schulten</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Chief Financial Officer (Principal Financial Officer)</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Matthew W. Janzaruk</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Senior Vice President - Chief Accounting Officer (Principal Accounting Officer)</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">B. Marc Allen</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Craig Arnold</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Brett Biggs</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Sheila Bonini</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Amy L. Chang</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Shailesh Jejurikar</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Joseph Jimenez</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:458.25pt"><tr><td style="width:1.0pt"></td><td style="width:7.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:147.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:48.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:247.00pt"></td><td style="width:1.0pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Christopher Kempczinski</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Debra L. Lee</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Christine McCarthy</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Ashley McEvoy</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Robert J. Portman</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:1.00pt">*</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">__________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Rajesh Subramaniam</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:80%">Director</font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11.5pt;font-weight:400;line-height:120%">By&#58;   </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11.5pt;font-weight:400;line-height:120%;text-decoration:underline"> &#47;s&#47; Susan Street Whaley                      </font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11.5pt;font-weight:400;line-height:120%">       * Susan Street Whaley as Attorney-in-Fact&#160;&#160;&#160;&#160;</font></div><div><font><br></font></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>2
<FILENAME>exhibit5-opinionofcounselp.htm
<DESCRIPTION>EX-5
<TEXT>
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<title>Document</title></head><body><div id="if2482e3bbbe34328856df357514560de_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">OPINION OF WEDNESDAY G. SHIPP</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The Procter &#38; Gamble Company</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Legal Division</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">1 Procter &#38; Gamble Plaza, Cincinnati, Ohio 45202-3315</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">October 30, 2025</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The Procter &#38; Gamble Company</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">One Procter &#38; Gamble Plaza</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Cincinnati, Ohio 45202</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Gentlemen&#47;Mesdames&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">This opinion is rendered for use in connection with the Post-Effective Amendment No. 1 to Registration Statement 333-234131 with respect to the Rollover Shares (as defined below) authorized for issuance under The Procter &#38; Gamble 2025 Stock and Incentive Compensation Plan (the &#8220;2025 Plan&#8221;).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">On October 14, 2025 (the &#8220;Approval Date&#8221;), the Company&#8217;s shareholders approved the 2025 Plan.  Pursuant to the terms of the 2025 Plan, no future awards will be granted under The Procter &#38; Gamble 2019 Stock and Incentive Compensation Plan (the &#34;2019 Plan&#34;), or any other prior plan, as of the Approval Date and the following will be issuable under the 2025 Plan&#58; (i) any shares of Common Stock remaining available for awards under the 2019 Plan, and (ii) except in certain circumstances set forth in the 2025 Plan, any shares of Common Stock related to outstanding awards under the 2019 Plan that are terminated by expiration, forfeiture, cancellation or otherwise without the issuance of shares&#59; are settled in cash in lieu of shares&#59; or are exchanged with the Compensation and Leadership Development Committee's permission, prior to the issuance of shares, for an award not involving Common Stock (clauses (ii) and (iii) together, &#8220;Rollover Shares&#8221;).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">As Counsel for the Company, I have examined and I am familiar with originals or copies, certified or otherwise, identified to my satisfaction, of such statutes, documents, corporate records, certificates of public officials and other instruments as I have deemed necessary for the purpose of this opinion including the Amended Articles of Incorporation, Regulations and By-Laws of the Company, the Registered Plans, the records of proceedings of the shareholders and directors of the Company and such other instruments which I consider pertinent.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Upon the basis of the foregoing, I am of the opinion that the Rollover Shares that may be issued pursuant to the 2025 Plan have been duly authorized, and that when issued, delivered, and paid for in accordance with the 2025 Plan and after the filing of this Post-Effective Amendment with the Securities and Exchange Commission, the Rollover Shares will be validly and legally issued and will be fully paid and non-assessable.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">I am a member of the Bar of the State of Ohio.  I express no opinion as to the laws of any jurisdiction other than the laws of the State of Ohio.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">I hereby consent to the filing of this opinion as Exhibit (5) to the Post-Effective Amendment and to the reference to my name in the Post-Effective Amendment, without admitting that I am an &#8220;expert&#8221; within the meaning of the Securities Act or the rules and regulations of the Commission issued thereunder with respect to any part of the Post-Effective Amendment, including this exhibit. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The opinion set forth herein is expressed solely for the benefit of the addressee hereof and may not be relied upon by any other person or entity without my prior written consent.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Very truly yours,</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#47;s&#47; Wednesday G. Shipp</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Wednesday G. Shipp</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>exhibit101-2025stockandinc.htm
<DESCRIPTION>EX-10.1
<TEXT>
<html><head>
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<title>Document</title></head><body><div id="i94c873f062624c1194aacbe290e05490_1"></div><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">The Procter &#38; Gamble 2025 Stock and Incentive Compensation Plan</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 1  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:14.84pt">ESTABLISHMENT, PURPOSE AND DURATION</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">1.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Establishment</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Procter &#38; Gamble Company, an Ohio corporation (the &#8220;Company&#8221;), hereby establishes an incentive compensation plan to be known as The Procter &#38; Gamble 2025 Stock and Incentive Compensation Plan (the &#8220;Plan&#8221;), as set forth in this document. This Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Stock Units, Cash-Based Awards and Other Stock-Based Awards.  This Plan shall become effective upon shareholder approval (the &#8220;Effective Date&#8221;) and shall remain in effect as provided in Section 1.3.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">1.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Purposes of this Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The purposes of the Plan are to strengthen the alignment of interests between those Employees of the Company and its Subsidiaries who are largely responsible for the success of the business as well as Non-employee Directors and the Company&#8217;s shareholders through ownership behavior and the increased ownership of shares of the Company&#8217;s common stock, and to encourage Plan Participants to remain in the employ of the Company and its Subsidiaries.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">1.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Duration of this Plan. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Unless sooner terminated as provided herein, this Plan shall terminate ten (10) years from the Effective Date. After this Plan is terminated, no Awards may be granted but Awards previously granted shall remain outstanding in accordance with their applicable terms and conditions and this Plan&#8217;s terms and conditions.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 2  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:14.84pt">DEFINITIONS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Whenever used in this Plan, the following capitalized terms shall have the meanings set forth below.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Annual Award Limits&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">has the meaning set forth in Section 4.4.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Award&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means, individually or collectively, a grant under this Plan of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Stock Units, Cash-Based Awards or Other Stock-Based Awards, in each case subject to the terms of this Plan and the applicable Award Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Award Agreement&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means either (i) a written or electronic agreement entered into by the Company and a Participant setting forth the terms and provisions applicable to an Award granted under this Plan, including any amendment or modification thereof, or (ii) a written or electronic statement issued by the Company to a Participant describing the terms and provisions of such Award, including any amendment or modification thereof. The Committee shall have the exclusive authority to determine the terms of an Award Agreement evidencing an Award granted under this Plan, subject to the provisions herein. The terms of an Award Agreement need not be uniform among all Participants or among similar types of Awards.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Board&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the Board of Directors of the Company.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">1</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Cash-Based Award&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award, denominated in cash, granted to a Participant as described in Article 12.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Cause&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">for purposes of this Plan only means, unless otherwise specified in an Award Agreement and in each case as determined in the sole discretion of the Company, any one of the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Participant&#8217;s conviction of or plea of guilty or </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">nolo contendere</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, or no contest, to a felony&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Participant&#8217;s willful misconduct&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Participant&#8217;s violation of a material written Company policy&#59; or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Participant&#8217;s willful and continued failure or refusal to substantially perform essential job functions.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.7</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Change in Control&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the occurrence of one or more of the following events&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The acquisition by any Person of beneficial ownership (within the meaning of  Rule 13d-3 under the Exchange Act) of more than 20% of either (A) the then-outstanding Shares (&#8220;Outstanding Company Common Stock&#8221;) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the &#8220;Outstanding Company Voting Securities&#8221;)&#59; provided, however, that, for purposes of this subsection (a), the following acquisitions shall not constitute a Change in Control&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">any acquisition by the Company,</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.9pt">any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company,</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(iii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:22.68pt">any acquisition by any entity controlled by the Company, or</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(iv)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:22.12pt">any acquisition by any entity pursuant to a transaction that complies with subsections (c)(i), (ii) and (iii) below.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Individuals who, as of the Effective Date, constitute the Board (the &#8220;Incumbent Board&#8221;) cease for any reason to constitute at least a majority of the Board&#59; provided, however, that any individual becoming a Director subsequent to the Effective Date whose election, or nomination for election by the Company&#8217;s shareholders, was approved by a vote of at least a majority of the Directors then comprising the Incumbent Board shall be considered as though such individual was a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs 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.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company and&#47;or any entity controlled by the Company, or a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any entity controlled by the Company (each, a &#8220;Business Combination&#8221;)&#59; provided, however, that for purposes of this subsection (c), a Business Combination shall not constitute a Change in Control if following such Business Combination&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">all or substantially all of the individuals and entities that were the beneficial owners (within the meaning of Rule 13d-3 under the Exchange Act) 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 voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company&#8217;s assets either directly or through one or more subsidiaries) 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, as the case may be&#59; and</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.9pt">no Person (excluding any entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business Combination&#59; and</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(iii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:22.68pt">at least a majority of the members of the board of directors of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.8</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Code&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the U.S. Internal Revenue Code of 1986, as amended from time to time. For purposes of this Plan, references to sections of the Code shall be deemed to include any applicable regulations thereunder and any successor or similar provision.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.9</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Commission&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the Securities and Exchange Commission.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">3</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.10</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Committee&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the Compensation &#38; Leadership Development Committee of the Board or a subcommittee thereof or any other committee designated by the Board to administer this Plan. The members of the Committee shall be appointed from time to time by and shall serve at the discretion of the Board. If the Committee does not exist or cannot function for any reason, the Board may take any action under the Plan that would otherwise be the responsibility of the Committee. The Committee shall be constituted to comply with the requirements of Rule 16b-3 promulgated by the Commission under the Exchange Act, or such rule or any successor rule thereto which is in effect from time to time, and any applicable listing or governance requirements of any securities exchange on which the Company&#8217;s common shares are listed. Any reference to the Committee herein shall also mean the Committee&#8217;s delegate or subcommittee as designated by the Committee pursuant to Section 3.3.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.11</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Company&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means The Procter &#38; Gamble Company and any successor thereto as provided in Section 21.19.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.12</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Director&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means any individual who is a member of the Board of Directors of the Company.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.13</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Dividend Equivalent&#8221;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> means, subject to Article 14 herein, amounts credited under an Award based on ordinary cash dividends that would have been paid on the Shares specified in the Award if such Shares had been issued to and held by the Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.14</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Effective Date&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">has the meaning set forth in Section 1.1.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.15</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Employee&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means any individual performing services for the Company or a Subsidiary and designated as an employee of the Company or the Subsidiary on its payroll records. An Employee shall not include any individual during any period he or she is classified or treated by the Company or Subsidiary as an independent contractor, a consultant or an employee of an employment, consulting or temporary agency or any other entity other than the Company or Subsidiary, without regard to whether such individual is subsequently determined to have been, or is subsequently retroactively reclassified, as a common- law employee of the Company or Subsidiary during such period. An individual shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company, between the Company and any Subsidiaries, or between Subsidiaries. For purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then three months following the 91st day of such leave, any Incentive Stock Option held by a Participant shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonqualified Stock Option. Neither service as a Director nor payment of a Director&#8217;s fee by the Company shall be sufficient to constitute &#8220;employment&#8221; by the Company.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.16</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Exchange Act&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto and the rules and regulations promulgated thereto.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.17</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Fair Market Value&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means, as applied to a specific date, the price of a Share that is based on the opening, closing, actual, high, low or average selling prices of a Share reported on any established stock exchange or national market system including without limitation the New York Stock </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">4</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Exchange and the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation System on the applicable date, the preceding trading day, the next succeeding trading day, or an average of trading days, as determined by the Committee in its discretion. Unless the Committee determines otherwise or unless otherwise specified in an Award Agreement, Fair Market Value shall be deemed to be equal to the closing price of a Share on the most recent date on which Shares were publicly traded.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.18</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt"> &#8220;Good Reason&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the occurrence, during the two-year period commencing on the date of a Change in Control, of any of the following without a Participant&#8217;s written consent, in each case, when compared to the arrangements in effect immediately prior to the Change in Control&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">a material reduction in the Participant&#8217;s total compensation (defined as the sum of base salary, target annual bonus, and target long-term incentive award)&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">a material diminution in the Participant&#8217;s duties, responsibilities or authority&#59; or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">a relocation of more than 50 miles from the Participant&#8217;s principal work location.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.19</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Grant Date&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the date an Award is granted to a Participant pursuant to the Plan.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.20</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Incentive Stock Option&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">or </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">&#8220;ISO&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Option granted pursuant to Article 7 that is designated as an Incentive Stock Option and that is intended to meet the requirements of Code Section 422 or any successor provision.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.21</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Non-employee Director&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means a Director who is not an Employee.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.22</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Nonqualified Stock Option&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 7 that is not intended to meet the requirements of Code Section 422, or that otherwise does not meet such requirements.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.23</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Option&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 7, which Award may be an Incentive Stock Option or a Nonqualified Stock Option.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.24</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Option Price&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the price at which a Share may be purchased by a Participant pursuant to an Option.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.25</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Other Stock-Based Award&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an equity-based or equity-related Award not otherwise described by the terms of this Plan that is granted pursuant to Article 12.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.26</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Participant&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means any eligible individual as set forth in Article 5 to whom an Award is granted.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.27</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Performance Stock Unit&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 11.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.28</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Period of Restriction&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the period when Restricted Stock or Restricted Stock Units are subject to a substantial risk of forfeiture (based on the passage of time, the achievement of </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">5</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">performance goals or upon the occurrence of other events as determined by the Committee, in its discretion) as provided in Articles 9 and 10.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.29</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Person&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">shall have the meaning ascribed to such term in Section 3(a) (9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a &#8220;group&#8221; as defined in Section 13(d) thereof.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.30</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Plan&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means The Procter &#38; Gamble Company 2025 Stock and Incentive Compensation Plan, as the same may be amended from time to time.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.31</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Prior Plans&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means The Procter &#38; Gamble 2019 Stock and Incentive Compensation Plan, The Procter &#38; Gamble 2014 Stock and Incentive Compensation Plan, and The Procter &#38; Gamble 2009 Stock and Incentive Compensation Plan.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.32</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Restricted Stock&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 9.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.33</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Restricted Stock Unit&#8221; or &#8220;RSU&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 10.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.34</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Retirement&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means, with respect to any Participant eligible for the Procter &#38; Gamble Retiree Welfare Benefits Plan, retirement in accordance with the provisions thereof as determined in the sole discretion of the Committee or its delegate.  If the meaning of Retirement under the Procter &#38; Gamble Retiree Welfare Benefits Plan is not determinable, then the meaning of Retirement shall be determined in the sole discretion of the Committee or its delegate.  For each Participant who is not eligible for the Procter &#38; Gamble Retiree Welfare Benefits Plan and unless otherwise specified in the applicable country-specific appendix or Award Agreement, &#8220;Retirement&#8221; means the comparable age in that Participant&#8217;s payroll country as determined by the Company&#8217;s authorized human resources personnel with reference to local law, custom, and affiliate policies regarding retirement. The definition of Retirement need not be uniform among Participants.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.35</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;SAR Price&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the price established at the time of grant of an SAR pursuant to Article 8.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.36</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Share&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means a share of common stock of the Company.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.37</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Stock Appreciation Right&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">or </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">&#8220;SAR&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 8.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.38</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Subsidiary&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means any corporation or other entity, whether domestic or foreign, in which the Company has or obtains, directly or indirectly, an interest of more than 50% by reason of stock ownership or otherwise. In addition, the Board may designate for participation in the Plan as a &#8220;Subsidiary&#8221; those additional companies affiliated with the Company in which the Company&#8217;s direct or indirect interest is less than 50%, provided, however, that such designation shall not be permitted for the granting of Incentive Stock Options and, with respect to Nonqualified Stock Options, SARs, or any similar Awards, such designation shall not include a company with respect to which the Company is not an &#8220;eligible issuer of service recipient stock&#8221; within the meaning of the regulations under Code Section 409A.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.39</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Termination of Employment&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the termination of the Participant&#8217;s employment with the Company and the Subsidiaries for any reason, including, but not by way of limitation, a </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">6</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">termination by resignation, death or retirement. With respect to any Award that is subject to Code Section 409A, Termination of Employment shall mean a &#8220;separation from service&#8221; as defined in Code Section 409A.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.40</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Termination of Directorship&#8221;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> means the time when a Non-employee Director ceases to be a Non-employee Director for any reason, including, but not by way of limitation, a termination by resignation, failure to be elected, death or retirement. With respect to any Award that is subject to Code Section 409A, Termination of Directorship shall mean a &#8220;separation from service&#8221; as defined in Code Section 409A.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 3  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:14.84pt">ADMINISTRATION</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">3.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">General</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Committee shall be responsible for administering this Plan, subject to this Article 3 and the other provisions of this Plan. The Committee may employ attorneys, consultants, accountants, agents and other individuals, any of whom may be an Employee, and the Committee, the Company, and its officers and Directors shall be entitled to rely upon the advice, opinions, or valuations of any such individuals. The Committee may also establish regulations, provisions, and procedures within the terms of the Plan, as may, in its sole discretion, be advisable for the administration and operation of the Plan. All actions taken and all interpretations and determinations made by the Committee shall be final and binding upon the Participants, the Company or Subsidiary, and all other interested individuals.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">3.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Authority of the Committee</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Subject to any express limitations set forth in the Plan, the Committee shall have full and exclusive discretionary power and authority to take such actions as it deems necessary and advisable with respect to the administration of the Plan including, but not limited to, the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To determine from time to time which of the persons eligible under the Plan shall be granted Awards, when and how each Award shall be granted, what type or combination of types of Awards shall be granted, the provisions of each Award granted (which need not be identical), including the time or times when a person shall be permitted to receive Shares pursuant to an Award and the number of Shares subject to an Award&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To construe and interpret the Plan and Awards granted under it, and to establish, amend, and revoke rules and regulations for its administration. The Committee, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in an Award Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">To approve forms of Award Agreements for use under the Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To determine Fair Market Value of a Share in accordance with the definition of &#8220;Fair Market Value&#8221; in Article 2 of the Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(e)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To amend the Plan or any Award Agreement as provided in the Plan&#59;</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">7</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(f)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:26.57pt">To adopt sub-plans and&#47;or special provisions applicable to Awards regulated by the laws of a jurisdiction other than the United States. Such sub-plans and&#47;or special provisions may take precedence over other provisions of the Plan or applicable Award Agreement, but unless otherwise superseded by the terms of such sub-plans and&#47;or special provisions, the provisions of the Plan and applicable Award Agreement shall govern&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(g)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Board&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(h)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To determine whether Awards will be settled in Shares, cash or in any combination thereof&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">To determine whether Awards will provide for Dividend Equivalents&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(j)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">To establish a program whereby Participants designated by the Committee may reduce compensation otherwise payable in cash in exchange for Awards under the Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(k)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">To impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any sales or other subsequent transfers of any Shares by a Participant, including, without limitation, restrictions under an insider trading policy and restrictions as to the use of a specified brokerage firm for such resales or other transfers&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(l)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">To authorize the Company to charge a reasonable administrative fee for the exercise of any Option&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(m)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:21.01pt">To impose restrictive covenants and other conditions on Awards as it determines appropriate and to waive such conditions at any time.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">3.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Delegation. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">To the extent permitted by law, the Committee may delegate to the Secretary of the Company or other employees of the Company the duties or powers it may deem advisable to assist the Committee in the administration and operation of the Plan and may grant authority to such persons to execute documents on behalf of the Committee. To the extent permitted by applicable law, the Committee may, by resolution, authorize one or more officers of the Company to do one or both of the following on the same basis as can the Committee&#58; (a) designate Employees to be recipients of Awards&#59; and (b) determine the size of any such Awards&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, (i) the Committee shall not delegate such responsibilities to any such officer for Awards granted to an Employee who is considered an officer (as defined in Rule 16a-1(f)) of the Exchange Act&#59; (ii) the resolution providing such authorization sets forth the total number of Awards such officer(s) may grant&#59; and (iii) the officer(s) shall report periodically to the Committee regarding the nature and scope of the Awards granted pursuant to the authority delegated.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 4  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:14.84pt">SHARES SUBJECT TO THIS PLAN AND MAXIMUM AWARDS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">4.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Number of Shares Authorized and Available for Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Subject to adjustment as provided under the Plan, the total number of Shares that are available for Awards under this Plan shall be 175,000,000 Shares plus any Shares that are available for Awards under The Procter &#38; Gamble 2019 </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">8</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Stock and Incentive Compensation Plan as of the Effective Date. No further Awards may be granted under the Prior Plans as of the Effective Date.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">4.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Share Usage</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Committee shall determine the method for calculating the number of Shares available for grant under the Plan, subject to the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">all Options and Stock Appreciation Rights shall be counted against Shares available on a one-for-one basis&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">all full value Awards to be settled in Shares shall be counted as five (5) Shares for each Share awarded&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">except as provided in clause (d), any Shares that are related to an Award granted under this Plan or Prior Plans that terminates by expiration, forfeiture, cancellation or otherwise without the issuance of the Shares, are settled in cash in lieu of Shares, or is exchanged with the Committee&#8217;s permission, prior to the issuance of Shares, for an Award not involving Shares shall be available again for grant under this Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">any Award Shares tendered, exchanged or withheld to cover Option exercise costs, any Award Shares withheld to cover taxes, and all Shares underlying an Award of Stock Appreciation Rights once such Stock Appreciation Rights are exercised, shall be taken into account as Shares issued under this Plan&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(e)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">any Award Shares granted by the Company in assumption of, or in substitution or exchange for, awards previously granted by a company acquired by the Company or a Subsidiary, or with which the Company or a Subsidiary combines, shall not reduce the maximum aggregate number of Shares available for issuance under the Plan (to the extent permitted under applicable stock exchange rules), and available shares of stock under a shareholder-approved stock compensation plan of any such acquired company or company with which the Company or a Subsidiary combines (as adjusted to reflect the transaction) may be used for Awards under the Plan and shall not reduce the number of Shares available under the Plan (to the extent permitted by applicable stock exchange rules).</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">4.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Shares Subject to Use Under the Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The source of the Shares to be delivered by the Company upon exercise or payment of any Award shall be determined by the Committee and may consist, in whole or in part, of authorized but unissued Shares, treasury Shares, or Shares acquired in the open market. In the case of redemption of SARs by one of the Company&#8217;s Subsidiaries, such Shares shall be Shares acquired by that Subsidiary.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">4.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Annual Award Limits</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Awards under the Plan shall be subject to the following Annual Award Limits, subject to any adjustment under Section 4.5. The maximum number of Shares with respect to which Options or other Awards may be granted to any Non-employee Director in any calendar year shall not exceed $1,000,000. The maximum number of Shares with respect to which Options or SARs may be granted to any Employee who is a Participant in any calendar year shall be 2,000,000 Shares. For any Awards other than Options or SARs that are denominated in Shares, the maximum aggregate </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">9</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">number of Shares that may be delivered pursuant to such Awards granted in any calendar year shall be 400,000 Shares for any Employee who is a Participant. For any Awards that are denominated in cash, the maximum aggregate amount of cash that may be paid with respect to all such Awards granted in any calendar year shall be $20,000,000 for any Employee who is a Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">4.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Adjustments in Authorized Shares</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Adjustments in authorized Shares available for issuance under the Plan or under an outstanding Award and adjustments in Annual Award Limits shall be subject to the following provisions&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">In the event of any corporate event or transaction such as a merger, consolidation, reorganization, recapitalization, separation, partial or complete liquidation, stock dividend, stock split, reverse stock split, split up, spin-off, distribution of stock or property of the Company, combination of Shares, exchange of Shares, dividend in kind, extraordinary cash dividend or any other similar corporate event or transaction (&#8220;Corporate Transaction&#8221;), the Committee, in order to prevent dilution or enlargement of Participants&#8217; rights under this Plan, shall substitute or adjust, as applicable, (i) the number and kind of Shares that may be issued under this Plan or under particular forms of Awards, (ii) the number and kind of Shares subject to outstanding Awards, (iii) the Option Price or SAR Price applicable to outstanding Awards, and (iv) the Annual Award Limits and other value determinations applicable to outstanding Awards. The Committee, in its discretion, shall determine the methodology or manner of making such substitution or adjustment.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">In addition to the adjustments permitted under paragraph (a) above, the Committee, in its sole discretion, may make such other adjustments or modifications in the terms of any Awards that it deems appropriate to reflect any Corporate Transaction, including, but not limited to, modifications of performance goals and changes in the length of performance periods, provided that no such adjustment or modification shall have the effect of materially and adversely reducing Participant&#8217;s rights and opportunities with respect to outstanding Awards.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 5  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:14.84pt">ELIGIBILITY AND PARTICIPATION</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Eligibility to Receive Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Individuals eligible to participate in this Plan include all Employees and Non-employee Directors.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Participation in the Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Subject to the provisions of this Plan, the Committee may, from time to time, select from all individuals eligible to participate in the Plan to whom Awards shall be granted and shall determine, in its sole discretion, the nature of any and all terms permissible by law and the amount of each Award.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">10</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 6  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:14.84pt">RESTRICTIONS AND COVENANTS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">6.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Participant Obligations. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In addition to such other conditions as may be established by the Committee, in consideration of the granting of an Award under the terms of the Plan, each Employee who is a Participant agrees to any and all restrictions and covenants set forth in the Plan and in the applicable Award Agreement.  Notwithstanding the foregoing, at any time during which a Participant resides in a state or other jurisdiction where the restrictions in Article 6 or the applicable Award Agreement are unenforceable, such provisions shall not apply to such Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">6.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Remedies. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Committee may cancel, rescind, suspend, withhold or otherwise limit or restrict any unexpired, unpaid or deferred Awards at any time if the Participant is not in compliance with all terms and conditions set forth in the applicable Award Agreement and the Plan. By acceptance of any Award granted under the terms of the Plan, the Participant acknowledges that the remedies outlined in this Section 6.2 and in Section 6.3 below are in addition to any remedy the Company or any affiliate or Subsidiary may have at law or in equity, including without limitation injunctive and other appropriate relief.  The Participant further acknowledges that a breach or anticipated breach of any covenant in the Plan or applicable Award Agreement will result in irreparable injury to the Company or one of its affiliates or Subsidiaries, for which there is no adequate remedy at law, and that the Company or one of its affiliates or Subsidiaries shall be entitled to obtain from a court of competent jurisdiction a temporary restraining order, a preliminary injunction, and&#47;or a permanent injunction, without proof of actual damages or posting a bond.  If a Participant is not in compliance with all terms and conditions set forth in the Plan and the applicable Award Agreement, and if litigation or other formal action is required to enforce the Plan, the Company shall be entitled to record its reasonable costs and attorneys&#8217; fees from the Participant if the Company is the prevailing party. The Participant agrees that the Company will be considered the prevailing party for purposes of awarding costs and attorneys&#8217; fees if the Company obtains any form of partial or complete injunctive relief, whether temporary, preliminary or otherwise.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">6.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Forfeiture and Repayment Obligations. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">All Awards shall be subject to forfeiture and&#47;or repayment to the Company to the extent and in the manner required (i) to comply with any requirements imposed under applicable laws, regulations, stock exchange listing rules or other rules&#59; (ii) under the terms of the P&#38;G Dodd-Frank Compensation Recoupment Policy and the P&#38;G Senior Executive Officer Recoupment Policy, to the extent applicable to the Participant, or under any other similar policy or guideline adopted by the Company.  In addition, upon exercise, payment or delivery of an Award, the Company may require that the Participant certify in a manner acceptable to the Company that he or she has complied with the terms and conditions of the Plan and applicable Award Agreement. In the event a Participant fails to comply with any provision in the Plan and the applicable Award Agreement at any time before or after exercise, payment or delivery of an Award, the Participant shall repay to the Company the net proceeds of any exercises, payments or deliveries of Awards which occur at any time after the earlier of the following two dates&#58; (a) the date three (3) years immediately preceding any such violation&#59; or (b) the date six (6) months prior to the Participant&#8217;s Termination of Employment. The Participant shall repay to the Company the net proceeds in such manner and on such terms and conditions as may be required by the Company, and the Company shall be entitled to set-off against the amount of any such net proceeds any amount owed to the Participant by the Company, to the extent that such set-off is not inconsistent with Code Section 409A.  For purposes of this paragraph, &#8220;net proceeds&#8221; shall mean (1) for each Option or SAR exercise, the difference between the Option Price or SAR Price, as applicable, and the greater of (i) the price of Shares on the date of exercise or (ii) the amount realized upon the disposition of the </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">11</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">underlying Shares, less any applicable taxes withheld by the Company&#59; (2) for RSUs or Performance Stock Units, the greater of (i) the number of net Shares delivered to the Participant multiplied by the closing price of Shares on the date of delivery or (ii) the amount realized upon the disposition of the number of net Shares delivered, in either case less any applicable taxes withheld by the Company&#59; (3) for Restricted Stock, the greater of (i) the number of net Shares retained by, or delivered to, the Participant after any restrictions lapse multiplied by the closing price of Shares on the date the restrictions lapse or (ii) the amount realized upon the disposition of the number of net Shares delivered, in either case less any applicable taxes withheld by the Company&#59; and (4) for all other Awards, the value of Shares or cash delivered to the Participant less any applicable taxes withheld by the Company.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">6.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Suspension of Exercise. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company reserves the right from time to time to suspend the exercise of any Award, where such suspension is deemed by the Company as necessary or appropriate for corporate purposes. No such suspension shall extend the life of the Option or Stock Appreciation Right beyond its expiration date, and in no event will there be a suspension in the five (5) calendar days immediately preceding the expiration date.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 7  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:14.84pt">STOCK OPTIONS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">7.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Grant of Options</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee in its sole discretion. Each grant of an Option shall be evidenced by an Award Agreement which shall specify whether the Option is in the form of a Nonqualified Stock Option or an Incentive Stock Option.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">7.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Option Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Option Price for each grant of an Option shall be determined by the Committee in its sole discretion and shall be specified in the Award Agreement evidencing such Option&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the Option Price must be at least equal to 100% of the Fair Market Value of a Share as of the Option&#8217;s Grant Date, subject to adjustment as provided for under Section 4.5.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">7.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Term of Option</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The term of an Option granted to a Participant shall be determined by the Committee in its sole discretion&#59; provided, however, no Option shall be exercisable later than the tenth anniversary of the Grant Date.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">7.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Exercise of Option</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. An Option shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant, except that no Option shall be exercisable within one (1) year from its Grant Date, except in the case of the death of the Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">7.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Notice of Exercise. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">An Option shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the Company in a form specified or accepted by the Committee, or by complying with any alternative procedures that may be authorized by the Committee, setting forth the number of Shares with respect to which the Option is to be exercised.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">7.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Payment of Option Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. A condition of the issuance of the Shares as to which an Option shall be exercised shall be the payment of the Option Price. The Option Price of any exercised Option shall be payable to the Company in accordance with one of the following methods&#58;</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">12</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">In cash or its equivalent&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">By a cashless (broker-assisted) exercise&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">By any combination of (a) and (b)&#59; or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Any other method approved or accepted by the Committee in its sole discretion.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Unless otherwise determined by the Committee, all payments under all of the methods indicated above shall be paid in United States dollars or Shares, as applicable.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">7.7</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Special Rules Regarding ISOs</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Notwithstanding any provision of the Plan to the contrary, an Option granted in the form of an ISO to a Participant shall be subject to the following rules. An ISO may be granted solely to eligible Employees of the Company, a parent corporation, or a subsidiary, as defined in Code Section 422. An Award Agreement evidencing the grant of an ISO shall specify that such grant is intended to be an ISO. The Option Price for each grant of an ISO must be at least equal to 100% of the Fair Market Value of a Share as of the ISO&#8217;s Grant Date (in the case of 10% owners, within the meaning of Code Section 422, the Option Price must be at least 110% of such Fair Market Value), subject to adjustment provided for under Section 4.5. Any ISO granted to a Participant shall be exercisable during the Participant&#8217;s lifetime solely by such Participant. The period during which a Participant may exercise an ISO shall not exceed ten (10) years (five (5) years in the case of a Participant who is a 10% owner within the meaning of Code Section 422) from its Grant Date. To the extent that the aggregate Fair Market Value of (a) the Shares with respect to which Options are designated as ISOs plus (b) the shares of stock of the Company, parent corporation and subsidiary with respect to which other ISOs are exercisable for the first time by a holder of such ISOs during any calendar year under all plans of the Company, any parent corporation, and any subsidiary exceeds $100,000, such Options shall be treated as Nonqualified Stock Options. For purposes of the preceding sentence, (a) Options shall be taken into account in the order in which they were granted, and (b) the Fair Market Value of the Shares shall be determined as of the time the Option or other ISO is granted. No more than 100,000,000 Shares shall be available under this Plan for delivery with respect to ISOs. No ISO may be granted more than ten years after the earlier of (a) adoption of this Plan by the Board and (b) the Effective Date. No ISO may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, that at the discretion of the Committee, an ISO may be transferred to a grantor trust under which the Participant making the transfer is the sole beneficiary.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 8  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:14.84pt">STOCK APPRECIATION RIGHTS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Grant of SARs</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. SARs may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee in its sole discretion. Each grant of SARs shall be evidenced by an Award Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">SAR Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The SAR Price for each grant of an SAR shall be determined by the Committee and shall be specified in the Award Agreement evidencing the SAR&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the SAR Price must be at least equal to 100% of the Fair Market Value of a Share as of the Grant Date, subject to adjustment as provided for under Section 4.5.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">13</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Term of SAR</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The term of an SAR granted to a Participant shall be determined by the Committee in its sole discretion&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, no SAR shall be exercisable later than the tenth anniversary of the Grant Date.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Exercise of SAR</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. An SAR shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant, except that no SAR shall be exercisable within one (1) year from its Grant Date, except in the case of the death of the Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Notice of Exercise</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. An SAR shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the Company in a form specified or accepted by the Committee, or by complying with any alternative procedures that may be authorized by the Committee, setting forth the number of Shares with respect to which the SAR is to be exercised.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Settlement of SARs</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Upon the exercise of an SAR, pursuant to a notice of exercise properly completed and submitted to the Company in accordance with Section 8.5, a Participant shall be entitled to receive payment from the Company in an amount equal to the product of (a) and (b) below&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The excess of the Fair Market Value of a Share on the date of exercise over the SAR Price.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The number of Shares with respect to which the SAR is exercised.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Payment shall be made in cash, Shares or a combination thereof as provided for under the applicable Award Agreement. In the case of the redemption of SARs by a Subsidiary of the Company not located in the United States, the redemption differential shall be calculated in United States dollars and converted to the appropriate local currency on the exercise date.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 9  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:14.84pt">RESTRICTED STOCK</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">9.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Grant of Restricted Stock</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Restricted Stock may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee in its sole discretion. Each grant of Restricted Stock shall be evidenced by an Award Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">9.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Nature of Restrictions</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Each grant of Restricted Stock shall be subject to a Period of Restriction that shall lapse upon the satisfaction of such conditions and restrictions as are determined by the Committee in its sole discretion and set forth in an applicable Award Agreement. Such conditions or restrictions may include, without limitation, one or more of the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Restrictions based upon the achievement of specific performance goals&#59; and&#47;or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Time-based restrictions.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">9.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:22.11pt">Voting and Dividend Rights</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Unless otherwise determined by the Committee and set forth in a Participant&#8217;s applicable Award Agreement, to the extent permitted or required by law, as determined by the Committee, a Participant holding Shares of Restricted Stock granted hereunder shall </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">14</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">be granted the right to exercise full voting rights with respect to those Shares and the right to receive dividends declared on those Shares during the Period of Restriction provided, however, that in the case of an Award as to which vesting depends upon the satisfaction of one or more performance conditions, such dividends shall be subject to the same performance conditions as the underlying Award. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 10  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">RESTRICTED STOCK UNITS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">10.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Grant of Restricted Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Restricted Stock Units may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee in its sole discretion. A grant of a Restricted Stock Unit or Restricted Stock Units shall not represent the grant of Shares but shall represent a promise to deliver a corresponding number of Shares or the value of each Share based upon the completion of service, performance conditions, or such other terms and conditions as specified in the applicable Award Agreement over the Period of Restriction. Each grant of Restricted Stock Units shall be evidenced by an Award Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">10.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Nature of Restrictions</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Each grant of Restricted Stock Units shall be subject to a Period of Restriction that shall lapse upon the satisfaction of such conditions and restrictions as are determined by the Committee in its sole discretion and set forth in an applicable Award Agreement. Such conditions or restrictions may include, without limitation, one or more of the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Restrictions based upon the achievement of specific performance goals&#59; and&#47;or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Time-based restrictions.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">10.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Voting and Dividend Rights</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. A Participant shall have no voting or dividend rights with respect to any Restricted Stock Units granted hereunder or the Shares corresponding to any Restricted Stock Units granted hereunder prior to such Shares being delivered to the Participant. A Participant may have a right to Dividend Equivalents based upon the terms of the Award pursuant to Article 14.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">10.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Settlement and Payment of Restricted Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Unless otherwise determined by the Committee, Restricted Stock Units shall be settled in the form of Shares upon the date specified in the Award Agreement. Any Shares received by a Participant pursuant to this Section 10.4 may be subject to any restrictions deemed appropriate by the Committee.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 11  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">PERFORMANCE STOCK UNITS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">11.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Grant of Performance Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Performance Stock Units may be granted to Participants in such number, and upon such terms and at any time and from time to time as shall be determined by the Committee in its sole discretion. A grant of Performance Stock Units shall not represent the grant of Shares but shall represent a promise to deliver Shares or cash based on the satisfaction of performance and, if applicable, service conditions. Each grant of Performance Stock Units shall be evidenced by an Award Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">11.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Earning of Performance Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. After the applicable performance period has ended, the number of Performance Stock Units earned by the Participant over the performance period shall be determined as a function of the extent to which the applicable corresponding performance goals have been achieved. This determination shall be made solely by the Committee.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">15</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">11.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Voting and Dividend Rights</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. A Participant shall have no voting or dividend rights with respect to any Performance Stock Units granted hereunder or the Shares corresponding to any Performance Stock Units granted hereunder prior to such Shares being delivered to the Participant. A Participant may have a right to Dividend Equivalents based upon the terms of the Award pursuant to Article 14.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">11.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Settlement and Payment of Performance Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Unless otherwise determined by the Committee, any earned Performance Stock Units shall be settled in the form of Shares following the close of the applicable performance period or at such other time as specified in the Award Agreement. Any Shares received by a Participant pursuant to this Section 11.4 may be subject to any restrictions deemed appropriate by the Committee.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 12  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">OTHER STOCK-BASED AWARDS AND CASH-BASED AWARDS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">12.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Grant of Other Stock-Based Awards and Cash-Based Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The Committee may grant Other Stock-Based Awards not otherwise described by the terms of this Plan to a Participant in such amounts and subject to such terms and conditions, as the Committee shall determine in its sole discretion. Such Awards may involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value of Shares.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The Committee may grant Cash-Based Awards not otherwise described by the terms of this Plan to a Participant in such amounts and subject to such terms and conditions, as the Committee shall determine in its sole discretion.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Each grant of Other Stock-Based Awards and Cash-Based Awards shall be evidenced by an Award Agreement, except to the extent determined by the Committee.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">12.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Value of Other Stock-Based Awards and Cash-Based Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Each Other Stock-Based Award shall be expressed in terms of Shares or units based on Shares, as determined by the Committee in its sole discretion.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Each Cash-Based Award shall specify a payment amount or payment range as determined by the Committee in its sole discretion. If the Committee exercises its discretion to establish performance goals, the value of Cash-Based Awards that shall be paid to the Participant will depend on the extent to which such performance goals are met.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">12.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Payment of Other Stock-Based Awards and Cash-Based Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Payment, if any, with respect to Cash-Based Awards and Other Stock-Based Awards shall be made in accordance with the terms of the applicable Award Agreement, in cash, Shares or a combination of both as determined by the Committee in its sole discretion.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">16</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 13  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">VESTING</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Each Award under this Plan shall be subject to a vesting period of at least one (1) year, provided, however, that this minimum vesting period shall not apply to (a) early vesting by reason of death or Change in Control, or (b) any Awards granted up to a maximum of five percent (5%) of the Shares available for issuance under the Plan.  An Award made to a Non-employee Director with a vesting period at least equal to the period from the annual shareholders&#8217; meeting at which the Award is granted to the next annual shareholders&#8217; meeting shall be considered to have a vesting period of at least one (1) year.  For the avoidance of doubt, any Awards that cease to be subject to a risk of forfeiture upon Retirement, involuntary termination, or another event, but that are not settled before the original vesting period of at least one (1) year has elapsed, shall be considered to be subject to a vesting period of at least one (1) year for purposes of this paragraph.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 14  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">DIVIDENDS AND DIVIDEND EQUIVALENTS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Except for Options and SARs, the Committee may grant Dividend Equivalents to a Participant based on the dividends declared on Shares that are subject to any Award granted to the Participant, with such Dividend Equivalents credited to the Participant as of the applicable dividend payment dates that occur during a period determined by the Committee. Dividend Equivalents shall be converted to and paid in cash or additional Shares or Awards by such formula and at such time and subject to such limitations as may be determined by the Committee.  Notwithstanding the foregoing, dividends and Dividend Equivalents with respect to any Award shall be subject to the same vesting and, if applicable, performance conditions as the underlying Award and shall be paid to a Participant at the same time as the underlying Award.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 15  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">TRANSFERABILITY OF AWARDS AND SHARES</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">15.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Transferability of Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Except as provided in Section 15.2, during a Participant&#8217;s lifetime, Options and SARs shall be exercisable only by the Participant personally, or, in the event of legal incompetence of the Participant, by the Participant&#8217;s duly appointed legal guardian. Awards shall not be transferable other than by will or the laws of descent and distribution or, if permitted by the Committee and in the manner specified by the Committee, by designation of a death beneficiary&#59; and any purported transfer in violation of this Section 15.1 shall be null and void.  For purposes of exercising Options or Stock Appreciation Rights after the death of a Participant, the Participant&#8217;s estate, personal representative or such other person entitled to succeed to the rights of the Participant pursuant to this Section 15.1 may exercise such rights, whether or not exercisable on the date of death of such Participant, at any time prior to the expiration date of the Options or Stock Appreciation Rights.  The Committee may, in its discretion, require the Participant, the Participant&#8217;s estate, personal representative or such other person asserting their rights under this Section 15.1 to provide certain records, documents and other information for purposes of exercising such rights.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">15.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Committee Action</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Except as provided in Section 7.7, the Committee may, in its discretion, determine that notwithstanding Section 15.1, any Awards shall be transferable, without compensation to the transferor, to and exercisable by such transferees, and subject to such terms and conditions as the Committee may deem appropriate&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, no Award may be transferred for value without shareholder approval.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">17</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">15.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Restrictions on Share Transferability</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Committee may impose such restrictions on any Shares acquired by a Participant under the Plan as it may deem advisable, including, without limitation, minimum holding period requirements, and&#47;or restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon which such Shares are then listed or traded, or under any blue sky or state securities laws applicable to such Shares.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 16  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">TERMINATION OF EMPLOYMENT OR TERMINATION OF DIRECTORSHIP</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">16.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:15.57pt">Each Award Agreement evidencing the grant of an Award shall provide for the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The extent to which a Participant shall retain or forfeit such Award following the Participant&#8217;s Termination of Employment or Termination of Directorship, as applicable.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">With respect to an Award in the form of an Option or SAR, the extent to which a Participant shall have the right to exercise the Option or SAR following the Participant&#8217;s Termination of Employment or Termination of Directorship, as applicable.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">The foregoing provisions shall be determined in the sole discretion of the Committee, shall be included in each Award Agreement entered into with each Participant, need not be uniform among all Award Agreements, and may reflect distinctions based on the reasons for termination.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 17  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">EFFECT OF A CHANGE IN CONTROL</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Notwithstanding any other provision of this Plan to the contrary, the provisions of this Article 17 shall apply in the event of a Change in Control&#58;</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">17.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Awards Assumed by Successor</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Any Award granted under the Plan that is Assumed (as defined in Section 17.2 below) by an entity effecting a Change in Control shall vest and be exercisable, if applicable, in accordance with the terms of the original grant unless, during the two (2) year period commencing on the date of the Change in Control&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">a Participant&#8217;s employment or directorship is involuntarily terminated for reasons other than for Cause&#59; or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">a Participant who is an Employee terminates the Participant&#8217;s employment for Good Reason.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">If clause (a) or (b) applies, the Award shall become fully vested and exercisable, if applicable, and any restrictions that apply to the Award shall lapse, and any performance-based Award shall be deemed to be satisfied based on actual performance through the date of the Participant&#8217;s termination if such performance is determinable in the judgement of the Committee and based on target level performance if actual performance is not determinable.  Notwithstanding the foregoing, with respect to any Award that is subject to Code Section 409A, if the Change in Control is not also a &#8220;change in control event&#8221; within the meaning of Section 409A, the payment shall be made on the date payment would have been made had the Termination of Employment or Termination of Directorship not occurred. For purposes of this Section 17.1, a Termination of Employment shall not be considered to be for Good Reason unless&#58;</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">18</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">the Participant has provided the Company with a written notice of the Participant&#8217;s intent to terminate employment for Good Reason within sixty (60) days of the Participant becoming aware of the circumstances giving rise to Good Reason&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">the Participant allows the Company thirty (30) days to remedy such circumstances to the extent curable.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">17.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Assumed Awards Defined.  </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For purposes of this Article 17, an Award shall be considered assumed (&#8220;Assumed&#8221;) if each of the following conditions are met&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Options and SARs are converted into a replacement Award in a manner that complies with Code Section 409A&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">RSUs and Restricted Stock are converted into a replacement Award covering a number of shares of the entity effecting the Change in Control (or a successor or parent corporation), as determined in a manner substantially similar to the treatment of an equal number of Shares covered by the Award&#59; provided that, to the extent that any portion of the consideration received by holders of Shares in the Change in Control transaction is not in the form of the common stock of such entity (or a successor or parent corporation), the number of shares covered by the replacement Award shall be based on the average of the high and low selling prices of the common stock of such entity (or a successor or parent corporation) on the established stock exchange on the trading day immediately preceding the date of the Change in Control&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">the replacement Award contains provisions for scheduled vesting, treatment on Termination of Employment or Termination of Directorship (including the definitions of &#8220;Cause&#8221; and &#8220;Good Reason&#8221;), and, if applicable, performance measures and associated target levels and payout factors that are no less favorable to the Participant than the underlying Award being replaced, and all other terms of the replacement Award (other than the security and number of shares represented by the replacement Award) are substantially similar to the underlying Award&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">the security represented by the replacement Award is of a class that is publicly held and widely traded on an established stock exchange.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">17.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Awards not Assumed by Successor</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Upon the occurrence of a Change in Control, Awards under the Plan that are not Assumed by the person(s) or entity(s) effecting the Change in Control shall become fully vested and exercisable on the date of the Change in Control, any restrictions that apply to such Awards shall lapse, and any performance-based Award shall be deemed to be satisfied based on actual performance through the date of the Change in Control if such performance is determinable in the judgement of the Committee and based on target level performance if actual performance is not determinable. Payment with respect to such Awards shall be made as follows&#58;</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">19</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">For each Option and SAR, the Participant shall receive a payment equal to the difference between the consideration (consisting of cash or other property, including securities of a successor or parent corporation) received by holders of Shares in the Change in Control transaction and the exercise price of the applicable Option or SAR, if such difference is positive. Such payment shall be made in the same form as the consideration received by holders of Shares. Any Options or SARs with an exercise price that is higher than the per share consideration received by holders of Shares in connection with the Change in Control shall be cancelled for no additional consideration.</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.9pt">For each Share of Restricted Stock, RSU, or Performance Stock Unit, the Participant shall receive the consideration (consisting of cash or other property, including securities of a successor or parent corporation) that such Participant would have received in the Change in Control transaction had he or she been, immediately prior to such transaction, a holder of the number of Shares equal to the number of Shares covered by the Restricted Stock, RSUs, or Performance Stock Units (based on actual performance through the date of the Change in Control if such performance is determinable in the judgement of the Committee and based on target level performance if actual performance is not determinable).</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The payments contemplated by clauses (a) (i) and (ii) of this Section 17.3 shall be made upon or as soon as practicable following the Change in Control, provided, however, that with respect to any Award that is subject to Code Section 409A, if the Change in Control is not also a &#8220;change in control event&#8221; within the meaning of Section 409A, the payment shall be made on the date payment would have been made had the Change in Control not occurred.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 18  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">RIGHTS OF PARTICIPANTS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">18.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Employment</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Nothing in this Plan or an Award Agreement shall (a) interfere with or limit in any way the right of the Company or any Subsidiary to terminate any Participant&#8217;s employment with the Company or any Subsidiary at any time or for any reason not prohibited by law or (b) confer upon any Participant any right to continue the Participant&#8217;s employment or service as a Director for any specified period of time. Neither an Award nor any benefits arising under this Plan shall constitute an employment contract with the Company or any Subsidiary and, accordingly, subject to Articles 3 and 19, this Plan and the benefits hereunder may be amended or terminated at any time in the sole and exclusive discretion of the Board without giving rise to any liability on the part of the Company, any Subsidiary, the Committee or the Board.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">18.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Participation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. No individual shall have the right to be selected to receive an Award under this Plan or, having been so selected, to be selected to receive a future Award.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">18.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Rights as a Shareholder</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Except as otherwise provided herein, a Participant shall have none of the rights of a shareholder with respect to Shares covered by any Award until the Participant becomes the record holder of such Shares.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">20</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 19  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">AMENDMENT AND TERMINATION</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">19.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:16.55pt">Amendment and Termination of the Plan and Awards.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Subject to subparagraphs (b) and (c) of this Section 19.1 and Section 19.3 of the Plan, the Board or the Committee may at any time amend or terminate the Plan or amend or terminate any outstanding Award.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Except as provided for in Section 4.5, the terms of an outstanding Award may not be amended, without prior shareholder approval, to&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">reduce the Option Price of an outstanding Option or to reduce the SAR Price of an outstanding SAR,</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.9pt">cancel an outstanding Option or SAR in exchange for other Options or SARs with an Option Price or SAR Price, as applicable, that is less than the Option Price of the cancelled Option or the SAR Price of the cancelled SAR, as applicable, or</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(iii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:22.68pt">cancel an outstanding Option with an Option Price that is less than the Fair Market Value of a Share on the date of cancellation or cancel an outstanding SAR with a SAR Price that is less than the Fair Market Value of a Share on the date of cancellation, in each case in exchange for cash or another Award.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Notwithstanding the foregoing, no amendment of this Plan shall be made without shareholder approval if shareholder approval is required pursuant to rules promulgated by any stock exchange or quotation system on which Shares are listed or quoted or by applicable U.S. state corporate laws or regulations, applicable U.S. federal laws or regulations, and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">19.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 4.5) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan. By accepting an Award under this Plan, a Participant agrees to any adjustment to the Award made pursuant to this Section 19.2 without further consideration or action.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">19.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Awards Previously Granted</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Notwithstanding any other provision of this Plan to the contrary, other than Sections 19.2, 19.4 and 21.15, no termination or amendment of this Plan or an Award Agreement shall adversely affect in any material way any Award previously granted under this Plan, without the written consent of the Participant holding such Award.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">21</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">19.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Amendment to Conform to Law</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Notwithstanding any other provision of this Plan to the contrary, the Board or Committee may amend the Plan or an Award Agreement, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming the Plan or an Award Agreement to any law relating to plans of this or similar nature, and to the administrative regulations and rulings promulgated thereunder. By accepting an Award under this Plan, a Participant agrees to any amendment made pursuant to this Section 19.4 to the Plan and any Award without further consideration or action.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 20  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">TAX WITHHOLDING</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">20.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Amount of Tax Withholding</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, or otherwise satisfy the obligation in any other manner in which the Committee determines appropriate, the amount necessary to satisfy applicable federal, state and local tax withholding requirements, domestic or foreign, with respect to any taxable event arising as a result of this Plan, but in no event shall such deduction or withholding or remittance exceed the maximum statutory withholding requirements in the applicable jurisdiction.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">20.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Share Withholding</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. With respect to withholding required upon the exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock, upon the settlement of Restricted Stock Units or Performance Stock Units, or any other taxable event arising as a result of an Award granted hereunder (collectively and individually referred to as a &#8220;Share Payment&#8221;), the Committee may choose to satisfy the withholding requirement, in whole or in part, by having the Company withhold from a Share Payment the number of Shares having a Fair Market Value on the date the withholding is to be determined equal to the amount necessary to satisfy applicable federal, state and local tax withholding requirements, domestic or foreign, with respect to any taxable event arising as a result of this Plan, but in no event shall such withholding exceed the maximum statutory withholding requirement in the applicable jurisdiction.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 21  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:9.28pt">GENERAL PROVISIONS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Legend</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The certificates for Shares may include any legend that the Committee deems appropriate to reflect any restrictions on transfer of such Shares.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Gender and Number</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine, the plural shall include the singular, and the singular shall include the plural.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Severability</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. In the event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had not been included.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Requirements of Law</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The granting of Awards and the issuance of Shares under this Plan shall be subject to all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Delivery of Title</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Company shall have no obligation to issue or deliver evidence of title for Shares issued under this Plan prior to&#58;</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">22</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Obtaining any approvals from governmental agencies that the Company determines are necessary or advisable&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Completion of any registration or other qualification of the Shares under any applicable national or foreign law or ruling of any governmental body that the Company determines to be necessary or advisable.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Inability to Obtain Authority</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company&#8217;s counsel to be necessary for the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.7</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Investment Representations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Committee may require any individual receiving Shares pursuant to an Award under this Plan to represent and warrant in writing that the individual is acquiring the Shares for investment and without any present intention to sell or distribute such Shares.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.8</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Employees Based Outside of the United States</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Notwithstanding any provision of this Plan to the contrary, in order to comply with the laws in other countries in which the Company or any Subsidiaries operate or have Employees or Directors, the Committee, in its sole discretion, shall have the power and authority to&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Determine which Subsidiaries shall be covered by this Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Determine which Employees or Directors outside the United States are eligible to participate in this Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Modify the terms and conditions of any Award granted to Employees or Directors outside the United States to comply with applicable foreign laws&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Establish sub-plans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(e)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local government regulatory exemptions or approvals.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Notwithstanding the above, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate applicable law.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.9</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:16.55pt">Uncertificated Shares</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. To the extent that this Plan provides for issuance of certificates to reflect the transfer of Shares, the transfer of such Shares may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.10</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">Unfunded Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Participants shall have no right, title or interest whatsoever in or to any investments that the Company or any Subsidiaries may make to aid it in meeting its obligations under this Plan. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">23</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">construed to create a trust of any kind, or a fiduciary relationship between the Company and any Participant, beneficiary, legal representative or any other individual. To the extent that any individual acquires a right to receive payments from the Company or any Subsidiary under this Plan, such right shall be no greater than the right of an unsecured general creditor of the Company or the Subsidiary, as the case may be. All payments to be made hereunder shall be paid from the general funds of the Company, or the Subsidiary, as the case may be, and no special or separate fund shall be established, and no segregation of assets shall be made to assure payment of such amounts except as expressly set forth in this Plan.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.11</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">No Fractional Shares</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. No fractional Shares shall be issued or delivered pursuant to this Plan or any Award. The Committee shall determine whether cash, Awards or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.12</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">Retirement and Welfare Plans</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Neither Awards made under this Plan nor Shares or cash paid pursuant to such Awards may be included as &#8220;compensation&#8221; for purposes of computing the benefits payable to any Participant under the Company&#8217;s or any Subsidiary&#8217;s retirement plans (both qualified and nonqualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into account in computing a Participant&#8217;s benefit.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.13</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">Deferred Compensation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. It is intended that any Award under this Plan shall either be exempt from Code Section 409A or shall comply, in form and operation, with Code Section 409A. If a Participant is a &#8220;specified employee&#8221; as defined under Code Section 409A and the Participant&#8217;s Award is to be settled on account of the Participant&#8217;s separation from service (for reasons other than death) and such Award constitutes &#8220;deferred compensation&#8221; as defined under Code Section 409A, then any portion of the Participant&#8217;s Award that would otherwise be settled during the six-month period commencing on the Participant&#8217;s separation from service shall be settled as soon as practicable following the conclusion of the six-month period (or following the Participant&#8217;s death if it occurs during such six-month period). Any Awards that are subject to Code Section 409A shall be interpreted in a manner that complies with Code Section 409A.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.14</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">Nonexclusivity of this Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The adoption of this Plan shall not be construed as creating any limitations on the power of the Board or Committee to adopt such other compensation arrangements as it may deem desirable for any Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.15</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">No Constraint on Corporate Action</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Nothing in this Plan shall be construed to&#58; (i) limit, impair, or otherwise affect the Company&#8217;s or a Subsidiary&#8217;s right or power to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell or transfer all or any part of its business or assets&#59; or (ii) limit the right or power of the Company or a Subsidiary to take any action that such entity deems to be necessary or appropriate.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.16</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">Governing Law</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Plan and each Award Agreement shall be governed by the laws of the state of Ohio excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Plan to the substantive law of another jurisdiction.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:9.5pt;font-weight:400;line-height:140%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Any legal action related to this Plan or the Awards hereunder may be brought in any federal or state court located in </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">24</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Hamilton County, Ohio, USA, and by accepting an Award, the Participant agrees to accept the jurisdiction of these courts and consents to service of process from said courts solely for legal actions related to the Plan and any Awards.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.17</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">Delivery and Execution of Electronic Documents</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. To the extent permitted by applicable law, the Company may (i) deliver by email or other electronic means (including posting on a website maintained by the Company or by a third party under contract with the Company) all documents relating to the Plan or any Award hereunder (including without limitation, prospectuses required by the Commission) and all other documents that the Company is required to deliver to its security holders (including without limitation, annual reports and proxy statements) and (ii) permit Participants to electronically execute applicable Plan documents (including, but not limited to, Award Agreements).</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.18</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">No Representations or Warranties Regarding Tax Effect</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Notwithstanding any provision of the Plan to the contrary or any action taken by the Company, Subsidiaries, or the Board with respect to any income tax, social insurance, payroll tax, or other tax, the acceptance of an Award under the Plan represents the Participant&#8217;s acknowledgement that the ultimate liability for any such tax owed by the Participant is and remains the Participant&#8217;s responsibility, and that the Company makes no representations or warranties about the tax treatment of any Award, and does not commit to structure any aspect of the Award to reduce or eliminate a Participant&#8217;s tax liability, including without limitation, under Code Sections 409A and 457A.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.19</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:10.99pt">Successors</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. All obligations of the Company under this Plan with respect to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and&#47;or assets of the Company.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">25</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div></body></html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>exhibit102-2019stockandinc.htm
<DESCRIPTION>EX-10.2
<TEXT>
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<title>Document</title></head><body><div id="i21e0d23f2d6b4fc5862d9f7acf5846dd_1"></div><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">The Procter &#38; Gamble 2019 Stock and Incentive Compensation Plan</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 1  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.97pt">ESTABLISHMENT, PURPOSE AND DURATION</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">1.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Establishment</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Procter &#38; Gamble Company, an Ohio corporation (the &#8220;Company&#8221;), hereby establishes an incentive compensation plan to be known as The Procter &#38; Gamble 2019 Stock and Incentive Compensation Plan (the &#8220;Plan&#8221;), as set forth in this document. This Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Stock Units, Cash-Based Awards and Other Stock-Based Awards.  This Plan shall become effective upon shareholder approval (the &#8220;Effective Date&#8221;) and shall remain in effect as provided in Section 1.3.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">1.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Purpose of this Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The purposes of the Plan are to strengthen the alignment of interests between those Employees of the Company and its Subsidiaries who are largely responsible for the success of the business as well as Non-employee Directors and the Company&#8217;s shareholders through ownership behavior and the increased ownership of shares of the Company&#8217;s common stock, and to encourage Plan Participants to remain in the employ of the Company and its Subsidiaries.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">1.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Duration of this Plan. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Unless sooner terminated as provided herein, this Plan shall terminate ten (10) years from the Effective Date. After this Plan is terminated, no Awards may be granted but Awards previously granted shall remain outstanding in accordance with their applicable terms and conditions and this Plan&#8217;s terms and conditions.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 2  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.97pt">DEFINITIONS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Whenever used in this Plan, the following capitalized terms shall have the meanings set forth below.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Annual Award Limits&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">have the meaning set forth in Section 4.4.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Award&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means, individually or collectively, a grant under this Plan of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Stock Units, Cash-Based Awards or Other Stock-Based Awards, in each case subject to the terms of this Plan.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Award Agreement&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means either (i) a written or electronic agreement entered into by the Company and a Participant setting forth the terms and provisions applicable to an Award granted under this Plan, including any amendment or modification thereof, or (ii) a written or electronic statement issued by the Company to a Participant describing the terms and provisions of such Award, including any amendment or modification thereof. The Committee shall have the exclusive authority to determine the terms of an Award Agreement evidencing an Award granted under this Plan, subject to the provisions herein. The terms of an Award Agreement need not be uniform among all Participants or among similar types of Awards.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Board&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the Board of Directors of the Company.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">1</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Cash-Based Award&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award, denominated in cash, granted to a Participant as described in Article 12.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Cause&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">for purposes of this Plan only means, unless otherwise specified in an Award Agreement, any one of the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Participant&#8217;s conviction of or plea of guilty or </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">nolo contendere</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, or no contest, to a felony&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Participant&#8217;s willful misconduct&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Participant&#8217;s violation of a material written Company policy&#59; or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Participant&#8217;s willful and continued failure or refusal to substantially perform essential job functions.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.7</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Change in Control&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the occurrence of one or more of the following events&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The acquisition by any Person of beneficial ownership (within the meaning of  Rule 13d-3 under the Exchange Act) of more than 20% of either (A) the then-outstanding Shares (&#8220;Outstanding Company Common Stock&#8221;) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the &#8220;Outstanding Company Voting Securities&#8221;)&#59; provided, however, that, for purposes of this Section 2.8(a) the following acquisitions shall not constitute a Change in Control&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">any acquisition by the Company,</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.9pt">any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company,</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(iii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:22.68pt">any acquisition by any entity controlled by the Company, or</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(iv)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:22.12pt">any acquisition by any entity pursuant to a transaction that complies with Sections 2.8(c)(i), (ii) and (iii).</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Individuals who, as of the Effective Date, constitute the Board (the &#8220;Incumbent Board&#8221;) cease for any reason to constitute at least a majority of the Board&#59; provided, however, that any individual becoming a Director subsequent to the Effective Date whose election, or nomination for election by the Company&#8217;s shareholders, was approved by a vote of at least a majority of the Directors then comprising the Incumbent Board shall be considered as though such individual was a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs 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.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company and&#47;or any entity controlled by the Company, or a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any entity controlled by the Company (each, a &#8220;Business Combination&#8221;), in each case, provided, however, that, for purposes of this Section 2.8(c) a Business Combination shall not constitute a Change in Control if following such Business Combination&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">all or substantially all of the individuals and entities that were the beneficial owners (within the meaning of Rule 13d-3 under the Exchange Act) 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 voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company&#8217;s assets either directly or through one or more subsidiaries) 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, as the case may be&#59; and</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.9pt">no Person (excluding any entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business Combination&#59; and</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(iii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:22.68pt">at least a majority of the members of the board of directors of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.8</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Code&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the U.S. Internal Revenue Code of 1986, as amended from time to time. For purposes of this Plan, references to sections of the Code shall be deemed to include any applicable regulations thereunder and any successor or similar provision.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.9</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:21.29pt">&#8220;Commission&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the Securities and Exchange Commission.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">3</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.10</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Committee&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the Compensation &#38; Leadership Development Committee of the Board or a subcommittee thereof or any other committee designated by the Board to administer this Plan. The members of the Committee shall be appointed from time to time by and shall serve at the discretion of the Board. If the Committee does not exist or cannot function for any reason, the Board may take any action under the Plan that would otherwise be the responsibility of the Committee. The Committee shall be constituted to comply with the requirements of Rule 16b-3 promulgated by the Commission under the Exchange Act, or such rule or any successor rule thereto which is in effect from time to time, and any applicable listing or governance requirements of any securities exchange on which the Company&#8217;s common shares are listed.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.11</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Company&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means The Procter &#38; Gamble Company and any successor thereto as provided in Section 21.19.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.12</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Director&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means any individual who is a member of the Board of Directors of the Company.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.13</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Dividend Equivalent&#8221;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> has the meaning set forth in Article 14.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.14</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Effective Date&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">has the meaning set forth in Section 1.1.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.15</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Employee&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means any individual performing services for the Company or a Subsidiary and designated as an employee of the Company or the Subsidiary on its payroll records. An Employee shall not include any individual during any period he or she is classified or treated by the Company or Subsidiary as an independent contractor, a consultant or an employee of an employment, consulting or temporary agency or any other entity other than the Company or Subsidiary, without regard to whether such individual is subsequently determined to have been, or is subsequently retroactively reclassified, as a common- law employee of the Company or Subsidiary during such period. An individual shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company, between the Company and any Subsidiaries, or between Subsidiaries. For purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then three months following the 91st day of such leave, any Incentive Stock Option held by a Participant shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonqualified Stock Option. Neither service as a Director nor payment of a Director&#8217;s fee by the Company shall be sufficient to constitute &#8220;employment&#8221; by the Company.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.16</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Exchange Act&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto and the rules and regulations promulgated thereto.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.17</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Fair Market Value&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means, as applied to a specific date, the price of a Share that is based on the opening, closing, actual, high, low or average selling prices of a Share reported on any established stock exchange or national market system including without limitation the New York Stock Exchange and the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation System on the applicable date, the preceding trading day, the next succeeding trading day, or an average of trading days, as determined by the Committee in its discretion. Unless the </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">4</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Committee determines otherwise or unless otherwise specified in an Award Agreement, Fair Market Value shall be deemed to be equal to the closing price of a Share on the most recent date on which Shares were publicly traded.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.18</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Good Reason&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the occurrence, during the two-year period commencing on the date of a Change in Control, of any of the following without a Participant&#8217;s written consent, in each case, when compared to the arrangements in effect immediately prior to the Change in Control&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">a material reduction in the Participant&#8217;s total compensation (defined as the sum of base salary, target annual bonus, and target long-term incentive award)&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">a material diminution in the Participant&#8217;s duties, responsibilities or authority&#59; or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">a relocation of more than 50 miles from the Participant&#8217;s principal office location.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.19</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Grant Date&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the date an Award is granted to a Participant pursuant to the Plan.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.20</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Grant Price&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the price established at the time of grant of an SAR pursuant to Article 8.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.21</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Incentive Stock Option&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">or </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">&#8220;ISO&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Option granted pursuant to Article 7 that is designated as an Incentive Stock Option and that is intended to meet the requirements of Code Section 422 or any successor provision.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.22</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Non-employee Director&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means a Director who is not an Employee.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.23</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Nonqualified Stock Option&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 7 that is not intended to meet the requirements of Code Section 422, or that otherwise does not meet such requirements.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.24</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Option&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 7, which Award may be an Incentive Stock Option or a Nonqualified Stock Option.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.25</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Option Price&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the price at which a Share may be purchased by a Participant pursuant to an Option.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.26</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Other Stock-Based Award&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an equity-based or equity-related Award not otherwise described by the terms of this Plan that is granted pursuant to Article 12.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.27</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Participant&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means any eligible individual as set forth in Article 5 to whom an Award is granted.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.28</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Performance Stock Unit&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 11.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.29</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Period of Restriction&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the period when Restricted Stock or Restricted Stock Units are subject to a substantial risk of forfeiture (based on the passage of time, the achievement of </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">5</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">performance goals or upon the occurrence of other events as determined by the Committee, in its discretion) as provided in Articles 9 and 10.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.30</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Person&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">shall have the meaning ascribed to such term in Section 3(a) (9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a &#8220;group&#8221; as defined in Section 13(d) thereof.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.31</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Plan&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means The Procter &#38; Gamble Company 2019 Stock and Incentive Compensation Plan, as the same may be amended from time to time.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.32</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Prior Plans&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means The Procter &#38; Gamble 2014 Stock and Incentive Compensation Plan, The Procter &#38; Gamble 2009 Stock and Incentive Compensation Plan, and The 2003 Non-Employee Directors&#8217; Stock Plan.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.33</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Restricted Stock&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 9.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.34</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Restricted Stock Unit&#8221; or &#8220;RSU&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 10.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.35</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Retirement&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means retirement in accordance with the provisions of any applicable retirement plan of the Company or any of its Subsidiaries as determined in the sole discretion of the Committee or its delegate.  If, in the judgement of the Committee or its delegate, the meaning of Retirement under any applicable retirement plan is not determinable, then the meaning of Retirement shall be determined in the sole discretion of the Committee or its delegate.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.36</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Share&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means a share of common stock of the Company.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.37</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Stock Appreciation Right&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">or </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%">&#8220;SAR&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means an Award granted pursuant to Article 8.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.38</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Subsidiary&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means any corporation or other entity, whether domestic or foreign, in which the Company has or obtains, directly or indirectly, an interest of more than 50% by reason of stock ownership or otherwise. In addition, the Board may designate for participation in the Plan as a &#8220;Subsidiary&#8221; those additional companies affiliated with the Company in which the Company&#8217;s direct or indirect interest is less than 50%, provided, however, that such designation shall not be permitted for the granting of Incentive Stock Options and such designation shall not include a company with respect to which the Company is not an &#8220;eligible issuer of service recipient stock&#8221; within the meaning of the regulations under Code Section 409A.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.39</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Termination of Employment&#8221; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">means the termination of the Participant&#8217;s employment with the Company and the Subsidiaries, regardless of the reason for the termination of employment. With respect to any Award that is subject to Code Section 409A, Termination of Employment shall mean a &#8220;separation from service&#8221; as defined in Code Section 409A.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:140%">2.40</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:15.57pt">&#8220;Termination of Directorship&#8221;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> means the time when a Non-employee Director ceases to be a Non-employee Director for any reason, including, but not by way of limitation, a termination by resignation, failure to be elected, death or retirement. With respect to any Award that is subject to Code Section 409A, Termination of Directorship shall mean a &#8220;separation from service&#8221; as defined in Code Section 409A.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">6</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 3  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.97pt">ADMINISTRATION</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">3.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">General</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Committee shall be responsible for administering this Plan, subject to this Article 3 and the other provisions of this Plan. The Committee may employ attorneys, consultants, accountants, agents and other individuals, any of whom may be an Employee, and the Committee, the Company, and its officers and Directors shall be entitled to rely upon the advice, opinions or valuations of any such individuals. The Committee may also establish regulations, provisions, and procedures within the terms of the Plan, as may, in its sole discretion, be advisable for the administration and operation of the Plan. All actions taken and all interpretations and determinations made by the Committee shall be final and binding upon the Participants, the Company or Subsidiary, and all other interested individuals.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">3.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Authority of the Committee</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Subject to any express limitations set forth in the Plan, the Committee shall have full and exclusive discretionary power and authority to take such actions as it deems necessary and advisable with respect to the administration of the Plan including, but not limited to, the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To determine from time to time which of the persons eligible under the Plan shall be granted Awards, when and how each Award shall be granted, what type or combination of types of Awards shall be granted, the provisions of each Award granted (which need not be identical), including the time or times when a person shall be permitted to receive Shares pursuant to an Award and the number of Shares subject to an Award&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To construe and interpret the Plan and Awards granted under it, and to establish, amend, and revoke rules and regulations for its administration. The Committee, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in an Award Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">To approve forms of Award Agreements for use under the Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To determine Fair Market Value of a Share in accordance with the definition of &#8220;Fair Market Value&#8221; in Article 2 of the Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(e)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To amend the Plan or any Award Agreement as provided in the Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(f)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:26.57pt">To adopt sub-plans and&#47;or special provisions applicable to Awards regulated by the laws of a jurisdiction other than the United States. Such sub-plans and&#47;or special provisions may take precedence over other provisions of the Plan, but unless otherwise superseded by the terms of such sub-plans and&#47;or special provisions, the provisions of the Plan shall govern&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(g)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Board&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(h)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To determine whether Awards will be settled in Shares, cash or in any combination thereof&#59;</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">7</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">To determine whether Awards will provide for Dividend Equivalents&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(j)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">To establish a program whereby Participants designated by the Committee may reduce compensation otherwise payable in cash in exchange for Awards under the Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(k)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">To impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any sales or other subsequent transfers of any Shares by a Participant, including, without limitation, restrictions under an insider trading policy and restrictions as to the use of a specified brokerage firm for such resales or other transfers&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(l)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">To authorize the Company to charge a reasonable administrative fee for the exercise of any Option&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(m)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:21.01pt">To waive the requirements of Article 6 at the time an Award is granted.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">3.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Delegation. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">To the extent permitted by law, the Committee may delegate to the Secretary of the Company or other employees of the Company the duties or powers it may deem advisable to assist the Committee in the administration and operation of the Plan and may grant authority to such persons to execute documents on behalf of the Committee. To the extent permitted by applicable law, the Committee may, by resolution, authorize one or more officers of the Company to do one or both of the following on the same basis as can the Committee&#58; (a) designate Employees to be recipients of Awards&#59; and (b) determine the size of any such Awards&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, (i) the Committee shall not delegate such responsibilities to any such officer for Awards granted to an Employee who is considered an officer (as defined in Rule 16a-1(f)) of the Exchange Act&#59; (ii) the resolution providing such authorization sets forth the total number of Awards such officer(s) may grant&#59; and (iii) the officer(s) shall report periodically to the Committee regarding the nature and scope of the Awards granted pursuant to the authority delegated.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 4  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.97pt">SHARES SUBJECT TO THIS PLAN AND MAXIMUM AWARDS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">4.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Number of Shares Authorized and Available for Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Subject to adjustment as provided under the Plan, the total number of Shares that are available for Awards under this Plan shall be 150,000,000 Shares plus any Shares that are available for Awards under The Procter &#38; Gamble 2014 Stock and Incentive Compensation Plan as of the Effective Date. No further Awards may be granted under the Prior Plans as of the Effective Date.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">4.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Share Usage</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Committee shall determine the method for calculating the number of Shares available for grant under the Plan, subject to the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">all Options and Stock Appreciation Rights shall be counted against Shares available on a one for one basis&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">all full value Awards to be settled in Shares shall be counted as 5 Shares for each Share awarded&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">except as provided in clause (d), any Shares that are related to an Award granted under this Plan or Prior Plans that terminates by expiration, forfeiture, cancellation or otherwise without the issuance of the Shares, are settled in cash in lieu of Shares, or is </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">8</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">exchanged with the Committee&#8217;s permission, prior to the issuance of Shares, for an Award not involving Shares shall be available again for grant under this Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">any Award Shares tendered, exchanged or withheld to cover Option exercise costs, any Award Shares withheld to cover taxes, and all Shares underlying an Award of Stock Appreciation Rights once such Stock Appreciation Rights are exercised, shall be taken into account as Shares issued under this Plan&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(e)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">any Award Shares granted by the Company in assumption of, or in substitution or exchange for, awards previously granted by a company acquired by the Company or a Subsidiary, or with which the Company or a Subsidiary combines, shall not reduce the maximum aggregate number of Shares available for issuance under the Plan (to the extent permitted under applicable stock exchange rules), and available shares of stock under a shareholder-approved stock compensation plan of any such acquired company or company with which the Company or a Subsidiary combines (as adjusted to reflect the transaction) may be used for Awards under the Plan and shall not reduce the number of Shares available under the Plan (to the extent permitted by applicable stock exchange rules).</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">4.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Shares Subject to Use Under the Plan. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The source of the Shares to be delivered by the Company upon exercise or payment of any Award shall be determined by the Committee and may consist, in whole or in part, of authorized but unissued Shares, treasury Shares, or Shares acquired in the open market. In the case of redemption of SARs by one of the Company&#8217;s Subsidiaries, such Shares shall be Shares acquired by that Subsidiary.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">4.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Annual Award Limits</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Awards under the Plan shall be subject to the following Annual Award Limits, subject to any adjustment under Section 4.5. The maximum number of Shares with respect to which Options or other Awards may be granted to any Non-employee Director in any calendar year shall not exceed 10,000. The maximum number of Shares with respect to which Options or SARs may be granted to any Employee who is a Participant in any calendar year shall be 2,000,000 Shares. For any Awards other than Options or SARs and that are denominated in Shares, the maximum aggregate number of Shares that may be delivered pursuant to such Awards granted in any calendar year shall be 400,000 Shares for any Employee who is a Participant. For any Awards that are denominated in cash, the maximum aggregate amount of cash that may be paid with respect to all such Awards granted in any calendar year shall be $20,000,000 for any Employee who is a Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">4.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Adjustments in Authorized Shares</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Adjustments in authorized Shares available for issuance under the Plan or under an outstanding Award and adjustments in Annual Award Limits shall be subject to the following provisions&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">In the event of any corporate event or transaction such as a merger, consolidation, reorganization, recapitalization, separation, partial or complete liquidation, stock dividend, stock split, reverse stock split, split up, spin-off, distribution of stock or property of the Company, combination of Shares, exchange of Shares, dividend in kind, extraordinary cash dividend or any other similar corporate event or transaction (&#8220;Corporate Transaction&#8221;), the Committee, in order to prevent dilution or enlargement of </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">9</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Participants&#8217; rights under this Plan, shall substitute or adjust, as applicable, (i) the number and kind of Shares that may be issued under this Plan or under particular forms of Awards, (ii) the number and kind of Shares subject to outstanding Awards, (iii) the Option Price or Grant Price applicable to outstanding Awards, and (iv) the Annual Award Limits and other value determinations applicable to outstanding Awards. The Committee, in its discretion, shall determine the methodology or manner of making such substitution or adjustment.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">In addition to the adjustments permitted under paragraph (a) above, the Committee, in its sole discretion, may make such other adjustments or modifications in the terms of any Awards that it deems appropriate to reflect any Corporate Transaction, including, but not limited to, modifications of performance goals and changes in the length of performance periods, provided that no such adjustment or modification shall have the effect of materially and adversely reducing Participant&#8217;s rights and opportunities with respect to outstanding Awards.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 5  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.97pt">ELIGIBILITY AND PARTICIPATION</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">5.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Eligibility to Receive Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Individuals eligible to participate in this Plan include all Employees and Non-employee Directors.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">5.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Participation in the Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Subject to the provisions of this Plan, the Committee may, from time to time, select from all individuals eligible to participate in the Plan&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Non-employee Directors, and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">those Employees who, in the opinion of the Committee, have demonstrated a capacity for contributing in a substantial manner to the success of the Company and its Subsidiaries,</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">to whom Awards shall be granted and shall determine, in its sole discretion, the nature of any and all terms permissible by law and the amount of each Award.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 6  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.97pt">RESTRICTIONS AND COVENANTS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">6.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Participant Obligations. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In addition to such other conditions as may be established by the Committee, in consideration of the granting of an Award under the terms of the Plan, each Employee who is a Participant agrees as follows.  Notwithstanding the foregoing, at any time during which a Participant resides in California, (i) Sections 6.1(a), (b), and (c) shall not apply to such Participant, and (ii) Section 6.1(d) shall not apply to such Participant to the extent that it would impose restrictions similar to Sections 6.1(b) and (c) following the Participant&#8217;s Termination of Employment.  Also, notwithstanding the foregoing, at any time during which a Participant resides in Massachusetts, Section 6.1(b) shall apply, but shall be limited to a period of one (1) year following the date of the Participant&#8217;s Termination of Employment.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">10</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The right to exercise any Option or Stock Appreciation Right shall be conditional upon certification by the Participant at time of exercise whether the Participant either intends to remain in the employ of the Company or one of its Subsidiaries for at least one (1) year following the date of exercise of the Option or SAR or intends to leave the Company or one of its Subsidiaries within one (1) year following the date of exercise of the Option or SAR, but has no intention to engage in any activity that would violate the non-compete provisions of Article 6.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">To better protect the goodwill of the Company and its affiliates and Subsidiaries and to prevent the disclosure of the Company&#8217;s or its affiliates&#8217; or Subsidiaries&#8217; confidential and proprietary trade secret information and thereby help ensure the long-term success of the business, the Participant, without prior written consent of the Chief Human Resources Officer and Chief Legal Officer of the Company, will not engage in any activity or provide any services, whether as a director, owner (other than as a passive investor holding less than 5% of an enterprise), manager, supervisor, employee, adviser, consultant or otherwise, for a period of two (2) years following the date of the Participant&#8217;s Termination of Employment, in connection with the manufacture, development, advertising, promotion, or sale of any product which is the same as or similar to or competitive with any products of the Company or its affiliates or Subsidiaries (including both existing products as well as products known to the Participant, as a consequence of the Participant&#8217;s employment with the Company or one of its affiliates or Subsidiaries, to be in development) in any jurisdiction throughout the world, it being acknowledged that the Company&#8217;s business activities are global in nature&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">with respect to which the Participant&#8217;s work has been directly concerned at any time during the two (2) years preceding Termination of Employment, or</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.9pt">with respect to which the Participant, as a consequence of the Participant&#8217;s job performance and duties, acquired knowledge of confidential and proprietary trade secret information of the Company or its affiliates or Subsidiaries.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For purposes of this Section 6.1(b), it shall be conclusively presumed that Participants have knowledge of information they were directly exposed to through actual receipt or review of memos or documents containing such information, or through actual attendance at meetings at which such information was discussed or disclosed.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">To better protect the Company&#8217;s investment in its employees and to ensure the long-term success of the business, the Participant, without prior written consent of the Company, will not attempt, directly or indirectly, to induce any employee of the Company or its affiliates or Subsidiaries to be employed or perform services elsewhere or attempt directly or indirectly to solicit the trade or business of any customer or partner of the Company or its affiliates or Subsidiaries for a period of five (5) years following the date of the Participant&#8217;s Termination of Employment.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">11</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Subject to the provisions of Section 6.1(h), because a main purpose of the Plan is to strengthen the alignment of interests between employees of the Company (including all affiliates and Subsidiaries) and its shareholders to ensure the continued success of the Company, the Participant will not take any action that is significantly contrary to the best interests of the Company or its affiliates or Subsidiaries. For purposes of this Section 6.1(d), an action taken &#8220;significantly contrary to the best interests of the Company or its affiliates or Subsidiaries&#8221; includes without limitation any action taken or threatened by the Participant that the Committee determines has, or is reasonably likely to have, a significant adverse impact on the reputation, goodwill, stability, operation, personnel retention and management, or business of the Company or any affiliate or Subsidiary.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(e)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Subject to the provisions of Section 6.1(h), the provisions of this Article 6 are not in lieu of, but are in addition to, the continuing obligation of the Participant (which the Participant acknowledges by accepting any Award under the Plan) to not use or disclose the Company's or its affiliates&#8217; or Subsidiaries' confidential and proprietary trade secret information known to the Participant until any particular confidential and proprietary trade secret information becomes generally known (through no fault of the Participant), whereupon the restriction on use and disclosure shall cease as to that item. Information regarding products in development, in test marketing or being marketed or promoted in a discrete geographic region, which information the Company or one of its affiliates or Subsidiaries is considering for broader use, shall not be deemed generally known until such broader use is actually commercially implemented. As used in this Article 6, &#34;generally known&#34; means known throughout the domestic U. S. industry or, in the case of Participants who have job responsibilities outside of the United States, the appropriate foreign country or countries' industry.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(f)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:26.57pt">Subject to the provisions of Section 6.1(h), by acceptance of any Award granted under the terms of the Plan, the Participant acknowledges that if the Participant were, without authority, to use or disclose the Company&#8217;s or any of its affiliates&#8217; or Subsidiaries&#8217; confidential and proprietary trade secret information or threaten to do so or violate or threaten to violate any other covenant of this Article 6, the Company or one of its affiliates or Subsidiaries would be entitled to injunctive and other appropriate relief to prevent the Participant from doing so. The Participant acknowledges that the harm caused to the Company by the breach or anticipated breach of this Article 6 is by its nature irreparable because, among other things, it is not readily susceptible of proof as to the monetary harm that would ensue. The Participant consents that any interim or final equitable relief entered by a court of competent jurisdiction shall, at the request of the Company or one of its affiliates or Subsidiaries, be entered on consent and enforced by any court having jurisdiction over the Participant, without prejudice to any rights either party may have to appeal from the proceedings which resulted in any grant of such relief.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(g)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Subject to the provisions of Section 6.1(h), the Participant acknowledges that if the Participant is subject to the Company&#8217;s Executive Officer Recoupment Policy or any successor policy, then such policy applies with respect to Awards under this Plan and is in addition to all other restrictions and remedies set forth in this Article 6.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">12</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(h)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Notwithstanding the requirements of confidentiality contained in this Article 6, the federal Defend Trade Secrets Act of 2016 immunizes the Participant against criminal and civil liability under federal or state trade secret laws for Participant&#8217;s disclosure of trade secrets that is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney solely for the purpose of reporting or investigating a suspected violation of law&#59; (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal&#59; or (iii) to the Participant&#8217;s attorney for use in a lawsuit alleging retaliation for reporting a suspected violation of law, provided that any document containing the trade secret is filed under seal and Participant does not otherwise disclose the trade secret, except pursuant to court order. Additionally, nothing contained in this Article 6 prohibits the Participant from&#58; (1) reporting possible violations of federal law or regulations, including any possible securities laws violations, to any governmental agency or entity, including but not limited to the U.S. Department of Justice, the U.S. Securities and Exchange Commission, the U.S. Congress, or any agency Inspector General&#59; (2) making any other disclosures that are protected under the whistleblower provisions of federal law or regulations&#59; or (3) otherwise fully participating in any federal whistleblower programs, including but not limited to any such programs managed by the U.S. Securities and Exchange Commission and&#47;or the Occupational Safety and Health Administration. The Participant does not need prior authorization from the Company to make any such reports or disclosures, and is not required to notify the Company about such disclosures.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">If any of the provisions contained in this Article 6 shall for any reason, whether by application of existing law or law which may develop after the Participant&#8217;s acceptance of an Award under the Plan be determined by a court of competent jurisdiction to be overly broad as to scope of activity, duration, or territory, the Participant agrees to join the Company or any of its affiliates or Subsidiaries in requesting such court to construe such provision by limiting or reducing it so as to be enforceable to the extent compatible with then applicable law. If any one or more of the terms, provisions, covenants, or restrictions of this Article 6 shall be determined by a court of competent jurisdiction to be invalid, void or unenforceable, then the remainder of the terms, provisions, covenants, and restrictions of this Article 6 shall remain in full force and effect and shall in no way be affected, impaired, or invalidated.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">6.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Remedies. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Committee may cancel, rescind, suspend, withhold or otherwise limit or restrict any unexpired, unpaid or deferred Awards at any time if the Participant is not in compliance with all terms and conditions set forth in the Plan, including this Article 6. By acceptance of any Award granted under the terms of the Plan, the Participant acknowledges that the remedies outlined in this Section 6.2 and in Section 6.3 below are in addition to any remedy the Company or any affiliate or Subsidiary may have at law or in equity, including without limitation injunctive and other appropriate relief.  The Participant further acknowledges that, consistent with Section 6.1(f) above, a breach or anticipated breach of any covenant in this Article 6 will result in irreparable injury to the Company or one of its affiliates or Subsidiaries, for which there is no adequate remedy at law, and that the Company or one of its affiliates or Subsidiaries shall be entitled to obtain from a court of competent jurisdiction a temporary restraining order, a preliminary injunction, and&#47;or a permanent injunction, without proof of actual damages or posting </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">13</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">a bond.  If a Participant is not in compliance with all terms and conditions set forth in the Plan, including this Article 6, and if litigation or other formal action is required to enforce the Plan, the Company shall be entitled to record its reasonable costs and attorneys&#8217; fees from the Participant if the Company is the prevailing party.  The Participant agrees that the Company will be considered the prevailing party for purposes of awarding costs and attorneys&#8217; fees if the Company obtains any form of partial or complete injunctive relief, whether temporary, preliminary or otherwise.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">6.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Repayment Obligations. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Upon exercise, payment or delivery of an Award, the Participant shall certify in a manner acceptable to the Company that he or she has complied with the terms and conditions of the Plan. In the event a Participant fails to comply with any provision in this Article 6 at any time before or after exercise, payment or delivery of an Award, the Participant shall repay to the Company the net proceeds of any exercises, payments or deliveries of Awards which occur at any time after the earlier of the following two dates&#58; (a) the date three (3) years immediately preceding any such violation&#59; or (b) the date six (6) months prior to the Participant&#8217;s Termination of Employment. The Participant shall repay to the Company the net proceeds in such manner and on such terms and conditions as may be required by the Company, and the Company shall be entitled to set-off against the amount of any such net proceeds any amount owed to the Participant by the Company, to the extent that such set-off is not inconsistent with Code Section 409A.  For purposes of this paragraph, &#8220;net proceeds&#8221; shall mean (1) for each Option or SAR exercise, the difference between the Option Price and the greater of (i) the price of Shares on the date of exercise or (ii) the amount realized upon the disposition of the underlying Shares, less any applicable taxes withheld by the Company&#59; (2) for RSUs or Performance Stock Units, the greater of (i) the number of net Shares delivered to the Participant multiplied by the closing price of Shares on the date of delivery or (ii) the amount realized upon the disposition of the number of net Shares delivered, in either case less any applicable taxes withheld by the Company&#59; (3) for Restricted Stock, the greater of (i) the number of net Shares retained by, or delivered to, the Participant after any restrictions lapse multiplied by the closing price of Shares on the date the restrictions lapse or (ii) the amount realized upon the disposition of the number of net Shares delivered, in either case less any applicable taxes withheld by the Company&#59; and (4) for all other Awards, the value of Shares or cash delivered to the Participant less any applicable taxes withheld by the Company.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">6.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Suspension of Exercise. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company reserves the right from time to time to suspend the exercise of any Award, where such suspension is deemed by the Company as necessary or appropriate for corporate purposes. No such suspension shall extend the life of the Option or Stock Appreciation Right beyond its expiration date, and in no event will there be a suspension in the five (5) calendar days immediately preceding the expiration date.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 7  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.97pt">STOCK OPTIONS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">7.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Grant of Options</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee, in its sole discretion. Each grant of an Option shall be evidenced by an Award Agreement which shall specify whether the Option is in the form of a Nonqualified Stock Option or an Incentive Stock Option.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">7.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Option Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Option Price for each grant of an Option shall be determined by the Committee in its sole discretion and shall be specified in the Award Agreement evidencing such Option&#59; </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">14</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the Option Price must be at least equal to 100% of the Fair Market Value of a Share as of the Option&#8217;s Grant Date, subject to adjustment as provided for under Section 4.5.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">7.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Term of Option</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The term of an Option granted to a Participant shall be determined by the Committee, in its sole discretion&#59; provided, however, no Option shall be exercisable later than the tenth anniversary of the Grant Date.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">7.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Exercise of Option</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. An Option shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant, except that no Option shall be exercisable within one (1) year from its Grant Date, except in the case of the death of the Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">7.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Notice of Exercise. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">An Option shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the Company in a form specified or accepted by the Committee, or by complying with any alternative procedures that may be authorized by the Committee, setting forth the number of Shares with respect to which the Option is to be exercised.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">7.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Payment of Option Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. A condition of the issuance of the Shares as to which an Option shall be exercised shall be the payment of the Option Price. The Option Price of any exercised Option shall be payable to the Company in accordance with one of the following methods&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">In cash or its equivalent&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">By a cashless (broker-assisted) exercise&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">By any combination of (a) and (b)&#59; or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Any other method approved or accepted by the Committee in its sole discretion.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Unless otherwise determined by the Committee, all payments under all of the methods indicated above shall be paid in United States dollars or Shares, as applicable.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">7.7</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Special Rules Regarding ISOs</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Notwithstanding any provision of the Plan to the contrary, an Option granted in the form of an ISO to a Participant shall be subject to the following rules. An ISO may be granted solely to eligible Employees of the Company, a parent corporation, or a subsidiary, as defined in Code Section 422. An Award Agreement evidencing the grant of an ISO shall specify that such grant is intended to be an ISO. The Option Price for each grant of an ISO must be at least equal to 100% of the Fair Market Value of a Share as of the ISO&#8217;s Grant Date (in the case of 10% owners, within the meaning of Code Section 422, the Option Price may not be not less than 110% of such Fair Market Value), subject to adjustment provided for under Section 4.5. Any ISO granted to a Participant shall be exercisable during his or her lifetime solely by such Participant. The period during which a Participant may exercise an ISO shall not exceed ten years (five years in the case of a Participant who is a 10% owner within the meaning of Code Section 422) from its Grant Date. To the extent that the aggregate Fair Market Value of (a) the Shares with respect to which Options are designated as ISOs plus (b) the shares of stock of the Company, parent corporation and subsidiary with respect to which other ISOs are exercisable for the first time by a holder of such ISOs during any calendar year under all plans of the Company, any parent corporation, and any subsidiary exceeds $100,000, such Options shall be treated as Nonqualified </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">15</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Stock Options. For purposes of the preceding sentence, (a) Options shall be taken into account in the order in which they were granted, and (b) the Fair Market Value of the Shares shall be determined as of the time the Option or other ISO is granted. No more than 100,000,000 Shares shall be available under this Plan for delivery with respect to ISOs. No ISO may be granted more than ten years after the earlier of (a) adoption of this Plan by the Board and (b) the Effective Date. No ISO may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, that at the discretion of the Committee, an ISO may be transferred to a grantor trust under which the Participant making the transfer is the sole beneficiary.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 8  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.97pt">STOCK APPRECIATION RIGHTS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">8.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Grant of SARs</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. SARs may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee, in its sole discretion. Each grant of SARs shall be evidenced by an Award Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">8.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Grant Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Grant Price for each grant of an SAR shall be determined by the Committee and shall be specified in the Award Agreement evidencing the SAR&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the Grant Price must be at least equal to 100% of the Fair Market Value of a Share as of the Grant Date, subject to adjustment as provided for under Section 4.5.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">8.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Term of SAR</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The term of an SAR granted to a Participant shall be determined by the Committee, in its sole discretion&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, no SAR shall be exercisable later than the tenth anniversary of the Grant Date.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">8.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Exercise of SAR</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. An SAR shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant, except that no SAR shall be exercisable within one (1) year from its Grant Date, except in the case of the death of the Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">8.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Notice of Exercise</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. An SAR shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the Company in a form specified or accepted by the Committee, or by complying with any alternative procedures that may be authorized by the Committee, setting forth the number of Shares with respect to which the SAR is to be exercised.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">8.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Settlement of SARs</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Upon the exercise of an SAR, pursuant to a notice of exercise properly completed and submitted to the Company in accordance with Section 8.5, a Participant shall be entitled to receive payment from the Company in an amount equal to the product of (a) and (b) below&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The excess of the Fair Market Value of a Share on the date of exercise over the Grant Price.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The number of Shares with respect to which the SAR is exercised.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Payment shall be made in cash, Shares or a combination thereof as provided for under the applicable Award Agreement. In the case of the redemption of SARs by a Subsidiary of the Company not located in the United States, the redemption differential shall be calculated in United States dollars and converted to the appropriate local currency on the exercise date.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">16</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 9  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.97pt">RESTRICTED STOCK</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">9.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Grant of Restricted Stock</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Restricted Stock may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee, in its sole discretion. Each grant of Restricted Stock shall be evidenced by an Award Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">9.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Nature of Restrictions</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Each grant of Restricted Stock shall subject to a Period of Restriction that shall lapse upon the satisfaction of such conditions and restrictions as are determined by the Committee in its sole discretion and set forth in an applicable Award Agreement. Such conditions or restrictions may include, without limitation, one or more of the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Restrictions based upon the achievement of specific performance goals&#59; and&#47;or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Time-based restrictions.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">9.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:23.5pt">Voting and Dividend Rights</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Unless otherwise determined by the Committee and set forth in a Participant&#8217;s applicable Award Agreement, to the extent permitted or required by law, as determined by the Committee, a Participant holding Shares of Restricted Stock granted hereunder shall be granted the right to exercise full voting rights with respect to those Shares and the right to receive dividends declared on those Shares during the Period of Restriction provided, however, that in the case of an Award as to which vesting depends upon the satisfaction of one or more performance conditions, such dividends shall be subject to the same performance conditions as the underlying Award. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 10  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">RESTRICTED STOCK UNITS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">10.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Grant of Restricted Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Restricted Stock Units may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee, in its sole discretion. A grant of a Restricted Stock Unit or Restricted Stock Units shall not represent the grant of Shares but shall represent a promise to deliver a corresponding number of Shares or the value of each Share based upon the completion of service, performance conditions, or such other terms and conditions as specified in the applicable Award Agreement over the Period of Restriction. Each grant of Restricted Stock Units shall be evidenced by an Award Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">10.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Nature of Restrictions</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Each grant of Restricted Stock Units shall be subject to a Period of Restriction that shall lapse upon the satisfaction of such conditions and restrictions as are determined by the Committee in its sole discretion and set forth in an applicable Award Agreement. Such conditions or restrictions may include, without limitation, one or more of the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Restrictions based upon the achievement of specific performance goals&#59; and&#47;or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Time-based restrictions.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">10.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Voting and Dividend Rights</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. A Participant shall have no voting or dividend rights with respect to any Restricted Stock Units granted hereunder or the Shares corresponding to any Restricted Stock Units granted hereunder prior to such Shares being delivered to the Participant. A Participant may have a right to Dividend Equivalents based upon the terms of the Award pursuant to Article 14.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">17</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">10.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Settlement and Payment of Restricted Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Unless otherwise determined by the Committee, Restricted Stock Units shall be paid in the form of Shares upon the date specified in the Award Agreement. Any Shares paid to a Participant under this Section 10.4 may be subject to any restrictions deemed appropriate by the Committee.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 11  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">PERFORMANCE STOCK UNITS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">11.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Grant of Performance Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Performance Stock Units may be granted to Participants in such number, and upon such terms and at any time and from time to time as shall be determined by the Committee, in its sole discretion. A grant of Performance Stock Units shall not represent the grant of Shares but shall represent a promise to deliver Shares or cash based on the satisfaction of performance and, if applicable, service conditions. Each grant of Performance Stock Units shall be evidenced by an Award Agreement.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">11.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Earning of Performance Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. After the applicable performance period has ended, the number of Performance Stock Units earned by the Participant over the performance period shall be determined as a function of the extent to which the applicable corresponding performance goals have been achieved. This determination shall be made solely by the Committee.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">11.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Voting and Dividend Rights</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. A Participant shall have no voting or dividend rights with respect to any Performance Stock Units granted hereunder or the Shares corresponding to any Performance Stock Units granted hereunder prior to such Shares being delivered to the Participant. A Participant may have a right to Dividend Equivalents based upon the terms of the Award pursuant to Article 14.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">11.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Settlement and Payment of Performance Stock Units</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Unless otherwise determined by the Committee, any earned Performance Stock Units shall be paid in the form of Shares following the close of the applicable performance period or at such other time as specified in the Award Agreement. Any Shares paid to a Participant under this Section 11.4 may be subject to any restrictions deemed appropriate by the Committee.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 12  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">OTHER STOCK-BASED AWARDS AND CASH-BASED AWARDS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">12.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Grant of Other Stock-Based Awards and Cash-Based Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The Committee may grant Other Stock-Based Awards not otherwise described by the terms of this Plan to a Participant in such amounts and subject to such terms and conditions, as the Committee shall determine, in its sole discretion. Such Awards may involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value of Shares.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The Committee may grant Cash-Based Awards not otherwise described by the terms of this Plan to a Participant in such amounts and subject to such terms and conditions, as the Committee shall determine, in its sole discretion.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Each grant of Other Stock-Based Awards and Cash-Based Awards shall be evidenced by an Award Agreement, except to the extent determined by the Committee.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">18</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">12.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Value of Other Stock-Based Awards and Cash-Based Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Each Other Stock-Based Award shall be expressed in terms of Shares or units based on Shares, as determined by the Committee, in its sole discretion.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Each Cash-Based Award shall specify a payment amount or payment range as determined by the Committee, in its sole discretion. If the Committee exercises its discretion to establish performance goals, the value of Cash-Based Awards that shall be paid to the Participant will depend on the extent to which such performance goals are met.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">12.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Payment of Other Stock-Based Awards and Cash-Based Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Payment, if any, with respect to Cash-Based Awards and Other Stock-Based Awards shall be made in accordance with the terms of the applicable Award Agreement, in cash, Shares or a combination of both as determined by the Committee in its sole discretion.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 13  </font><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">VESTING</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Each Award under this Plan shall be subject to a vesting period of at least one (1) year, provided, however, that this minimum vesting period shall not apply to (a) early vesting by reason of death or Change in Control, or (b) any Awards granted up to a maximum of five percent (5%) of the Shares available for issuance under the Plan.  An Award made to a Non-employee Director with a vesting period at least equal to the period from the annual shareholders&#8217; meeting at which the Award is granted to the next annual shareholders&#8217; meeting shall be considered to have a vesting period of at least one (1) year.  For the avoidance of doubt, any Awards that cease to be subject to a risk of forfeiture upon Retirement, involuntary termination, or another event, but that are not paid before the original vesting period of at least one (1) year has elapsed, shall be considered to be subject to a vesting period of at least one (1) year for purposes of this paragraph.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 14  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">DIVIDENDS AND DIVIDEND EQUIVALENTS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Except for Options and SARs, the Committee may grant Dividend Equivalents to a Participant based on the dividends declared on Shares that are subject to any Award granted to the Participant, with such Dividend Equivalents credited to the Participant as of the applicable dividend payment dates that occur during a period determined by the Committee. Dividend Equivalents shall be converted to and paid in cash or additional Shares or Awards by such formula and at such time and subject to such limitations as may be determined by the Committee.  Notwithstanding the foregoing, dividends and Dividend Equivalents with respect to any Award shall be subject to the same vesting and, if applicable, performance conditions as the underlying Award and shall be paid to a Participant at the same time as the underlying Award.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 15  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">TRANSFERABILITY OF AWARDS AND SHARES</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">15.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Transferability of Awards</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Except as provided in Section 15.2, during a Participant&#8217;s lifetime, Options and SARs shall be exercisable only by the Participant personally, or, in the event of legal incompetence of the Participant, by the Participant&#8217;s duly appointed legal guardian. Awards shall not be </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">19</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">transferable other than by will or the laws of descent and distribution or, if permitted by the Plan Administrator and in the manner specified by the Plan Administrator, by designation of a death beneficiary&#59; and any purported transfer in violation of this Section 15.1 shall be null and void.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">15.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Committee Action</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Except as provided in Section 7.7, the Committee may, in its discretion, determine that notwithstanding Section 15.1, any Awards shall be transferable, without compensation to the transferor, to and exercisable by such transferees, and subject to such terms and conditions as the Committee may deem appropriate&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, no Award may be transferred for value without shareholder approval.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">15.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Restrictions on Share Transferability</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Committee may impose such restrictions on any Shares acquired by a Participant under the Plan as it may deem advisable, including, without limitation, minimum holding period requirements, restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon which such Shares are then listed or traded or under any blue sky or state securities laws applicable to such Shares.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">15.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Transferability after Death of a Participant. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the purpose of exercising Options or Stock Appreciation Rights after the death of the Participant&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">the individuals to whom the Options or Stock Appreciation Rights have been transferred pursuant to Section 15.1 shall have the privilege of exercising remaining Options, Stock Appreciation Rights or parts thereof, whether or not exercisable on the date of death of such Participant, at any time prior to the expiration date of the Options or Stock Appreciation Rights&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">the duly appointed executors and administrators of the estate of the deceased Participant shall have the same rights and obligations with respect to the Options and Stock Appreciation Rights as legatees or distributees would have after distribution to them from the Participant&#8217;s estate.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 16  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">TERMINATION OF EMPLOYMENT OR TERMINATION OF DIRECTORSHIP</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">16.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Effect of Termination of Employment or Directorship Generally. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Each Award Agreement evidencing the grant of an Award shall provide for the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The extent to which a Participant shall vest in or forfeit such Award following the Participant&#8217;s Termination of Employment or Termination of Directorship, as applicable.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">With respect to an Award in the form of an Option or SAR, the extent to which a Participant shall have the right to exercise the Option or SAR following the Participant&#8217;s Termination of Employment or Termination of Directorship, as applicable.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The foregoing provisions shall be determined in the sole discretion of the Committee, shall be included in each Award Agreement entered into with each Participant, need not be uniform among all Award Agreements and may reflect distinctions based on the reasons for termination.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">20</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">16.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Effect of Termination of Employment for Cause. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In addition to the forfeiture events specified in the Award Agreements as authorized by Section 16.1 above, a Participant&#8217;s Termination of Employment or Directorship for Cause shall result in the forfeiture of the Participant&#8217;s outstanding Awards in accordance with the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Any outstanding and non-vested Options, SARs, Restricted Stock, RSUs, Performance Stock Units, Cash-Based Awards and Other Stock-Based Awards granted to the Participant shall be forfeited as of the Participant&#8217;s Termination of Employment or Directorship&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Any vested and unexercised Options and SARs, vested but not settled RSUs, earned but not settled Performance Stock Units, and earned and&#47;or vested Cash-Based Awards and Other Stock-Based Awards granted to the Participant shall be forfeited as of the Participant&#8217;s Termination of Employment or Directorship.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 17  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">EFFECT OF A CHANGE IN CONTROL</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Notwithstanding any other provision of this Plan to the contrary, the provisions of this Article 17 shall apply in the event of a Change in Control&#58;</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">17.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Awards Assumed by Successor</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Upon the occurrence of a Change in Control, any Award granted under the Plan that is Assumed (as defined in Section 17.2 below) by the entity effecting the Change in Control shall vest and be exercisable, if applicable, in accordance with the terms of the original grant unless, during the two (2) year period commencing on the date of the Change in Control&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">a Participant&#8217;s employment or directorship is involuntarily terminated for reasons other than for Cause&#59; or,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">a Participant who is an Employee terminates his or her employment for Good Reason.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">If clause (a) or (b) applies, the Award shall become fully vested and exercisable, if applicable, and any restrictions that apply to the Award shall lapse, and any performance-based Award shall be deemed to be satisfied based on actual performance through the date of the Participant&#8217;s termination if such performance is determinable in the judgement of the Committee, and based on target level performance if actual performance is not determinable.  Notwithstanding the foregoing, with respect to any Award that is subject to Code Section 409A, if the Change in Control is not also a &#8220;change in control event&#8221; within the meaning of Section 409A , the payment shall be made on the date payment would have been made had the Termination of Employment or Termination of Directorship not occurred. For purposes of this Section 17.1, a Termination of Employment for Good Reason shall not be considered to be for Good Reason unless&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">the Participant has provided the Company with a written notice of his or her intent to terminate employment for Good Reason within sixty (60) days of the Participant becoming aware of the circumstances giving rise to Good Reason&#59; and</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">21</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">the Participant allows the Company thirty (30) days to remedy such circumstances to the extent curable.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">17.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Assumed Awards Defined.  </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For purposes of this Article 17, an Award shall be considered assumed (&#8220;Assumed&#8221;) if each of the following conditions are met&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Options and SARs are converted into a replacement Award in a manner that complies with Code Section 409A&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">RSUs and Restricted Stock are converted into a replacement Award covering a number of shares of the entity effecting the Change in Control (or a successor or parent corporation), as determined in a manner substantially similar to the treatment of an equal number of Shares covered by the Award&#59; provided that to the extent that any portion of the consideration received by holders of Shares in the Change in Control transaction is not in the form of the common stock of such entity (or a successor or parent corporation), the number of shares covered by the replacement Award shall be based on the average of the high and low selling prices of the common stock of such entity (or a successor or parent corporation) on the established stock exchange on the trading day immediately preceding the date of the Change in Control&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">the replacement Award contains provisions for scheduled vesting, treatment on Termination of Employment or Termination of Directorship (including the definitions of &#8220;Cause&#8221; and &#8220;Good Reason&#8221;), and, if applicable, performance measures and associated target levels and payout factors that are no less favorable to the Participant than the underlying Award being replaced, and all other terms of the replacement Award (other than the security and number of shares represented by the replacement Award) are substantially similar to the underlying Award&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">the security represented by the replacement Award is of a class that is publicly held and widely traded on an established stock exchange.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">17.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Awards not Assumed by Successor</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Upon the occurrence of a Change in Control, Awards under the Plan that are not Assumed by the person(s) or entity(s) effecting the Change in Control shall become fully vested and exercisable on the date of the Change in Control, any restrictions that apply to such Awards shall lapse, and any performance-based Award shall be deemed to be satisfied based on actual performance through the date of the Change in Control if such performance is determinable in the judgement of the Committee, and based on target level performance if actual performance is not determinable. Payment with respect to such Awards shall be made as follows&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">For each Option and SAR, the Participant shall receive a payment equal to the difference between the consideration (consisting of cash or other property, including securities of a successor or parent corporation) received by holders of Shares in the Change in Control transaction and the exercise price of the </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">22</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">applicable Option or SAR, if such difference is positive. Such payment shall be made in the same form as the consideration received by holders of Shares. Any Options or SARs with an exercise price that is higher than the per share consideration received by holders of Shares in connection with the Change in Control shall be cancelled for no additional consideration.</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.9pt">For each Share of Restricted Stock, RSU, or Performance Stock Unit, the Participant shall receive the consideration (consisting of cash or other property, including securities of a successor or parent corporation) that such Participant would have received in the Change in Control transaction had he or she been, immediately prior to such transaction, a holder of the number of Shares equal to the number of Shares covered by the Restricted Stock, RSUs, or Performance Stock Units (based on actual performance through the date of the Change in Control if such performance is determinable in the judgement of the Committee, and based on target level performance if actual performance is not determinable).</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">The payments contemplated by clauses (a) (i) and (ii) of this Section 17.3 shall be made upon or as soon as practicable following the Change in Control, provided, however, that with respect to any Award that is subject to Code Section 409A, if the Change in Control is not also a &#8220;change in control event&#8221; within the meaning of Section 409A, the payment shall be made on the date payment would have been made had the Change in Control not occurred.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 18  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">RIGHTS OF PARTICIPANTS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">18.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Employment</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Nothing in this Plan or an Award Agreement shall (a) interfere with or limit in any way the right of the Company or any Subsidiary to terminate any Participant&#8217;s employment with the Company or any Subsidiary at any time or for any reason not prohibited by law or (b) confer upon any Participant any right to continue his employment or service as a Director for any specified period of time. Neither an Award nor any benefits arising under this Plan shall constitute an employment contract with the Company or any Subsidiary and, accordingly, subject to Articles 3 and 19, this Plan and the benefits hereunder may be amended or terminated at any time in the sole and exclusive discretion of the Board without giving rise to any liability on the part of the Company, any Subsidiary, the Committee or the Board.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">18.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Participation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. No individual shall have the right to be selected to receive an Award under this Plan, or, having been so selected, to be selected to receive a future Award.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">18.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Rights as a Shareholder</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Except as otherwise provided herein, a Participant shall have none of the rights of a shareholder with respect to Shares covered by any Award until the Participant becomes the record holder of such Shares.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 19  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">AMENDMENT AND TERMINATION</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">19.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:18.5pt">Amendment and Termination of the Plan and Awards.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">23</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Subject to subparagraphs (b) and (c) of this Section 19.1 and Section 19.3 of the Plan, the Board or the Committee may at any time amend or terminate the Plan or amend or terminate any outstanding Award.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Except as provided for in Section 4.5, the terms of an outstanding Award may not be amended, without prior shareholder approval, to&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:27.12pt">reduce the Option Price of an outstanding Option or to reduce the Grant Price of an outstanding SAR,</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.9pt">cancel an outstanding Option or SAR in exchange for other Options or SARs with an Option Price or Grant Price, as applicable, that is less than the Option Price of the cancelled Option or the Grant Price of the cancelled SAR, as applicable, or</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(iii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:22.68pt">cancel an outstanding Option with an Option Price that is less than the Fair Market Value of a Share on the date of cancellation or cancel an outstanding SAR with a Grant Price that is less than the Fair Market Value of a Share on the date of cancellation in exchange for cash or another Award.</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Notwithstanding the foregoing, no amendment of this Plan shall be made without shareholder approval if shareholder approval is required pursuant to rules promulgated by any stock exchange or quotation system on which Shares are listed or quoted or by applicable U.S. state corporate laws or regulations, applicable U.S. federal laws or regulations and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">19.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.The Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 4.5) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan. By accepting an Award under this Plan, a Participant agrees to any adjustment to the Award made pursuant to this Section 19.2 without further consideration or action.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">19.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Awards Previously Granted</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Notwithstanding any other provision of this Plan to the contrary, other than Sections 19.2, 19.4 and 21.15, no termination or amendment of this Plan or an Award Agreement shall adversely affect in any material way any Award previously granted under this Plan, without the written consent of the Participant holding such Award.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">19.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Amendment to Conform to Law. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Notwithstanding any other provision of this Plan to the contrary, the Board or Committee may amend the Plan or an Award Agreement, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming the Plan or an Award </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">24</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Agreement to any law relating to plans of this or similar nature, and to the administrative regulations and rulings promulgated thereunder. By accepting an Award under this Plan, a Participant agrees to any amendment made pursuant to this Section 19.4 to the Plan and any Award without further consideration or action.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 20  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">TAX WITHHOLDING</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">20.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Amount of Tax Withholding</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, the  amount necessary to satisfy applicable federal, state and local tax withholding requirements, domestic or foreign, with respect to any taxable event arising as a result of this Plan, but in no event shall such deduction or withholding or remittance exceed the maximum statutory withholding requirements in the applicable jurisdiction.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">20.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Share Withholding</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. With respect to withholding required upon the exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock, upon the settlement of Restricted Stock Units or Performance Stock Units, or any other taxable event arising as a result of an Award granted hereunder (collectively and individually referred to as a &#8220;Share Payment&#8221;) the Committee may choose to satisfy the withholding requirement, in whole or in part, by having the Company withhold from a Share Payment the number of Shares having a Fair Market Value on the date the withholding is to be determined equal to the amount necessary to satisfy applicable federal, state and local tax withholding requirements, domestic or foreign, with respect to any taxable event arising as a result of this Plan, but in no event shall such withholding exceed the maximum statutory withholding requirement in the applicable jurisdiction.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#2b4b9b;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">ARTICLE 21  </font><font style="color:#2b4b9b;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:8.97pt">GENERAL PROVISIONS</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Legend</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The certificates for Shares may include any legend that the Committee deems appropriate to reflect any restrictions on transfer of such Shares.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Gender and Number</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine, the plural shall include the singular, and the singular shall include the plural.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Severability</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. In the event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had not been included.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Requirements of Law</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The granting of Awards and the issuance of Shares under this Plan shall be subject to all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Delivery of Title</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Company shall have no obligation to issue or deliver evidence of title for Shares issued under this Plan prior to&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Obtaining any approvals from governmental agencies that the Company determines are necessary or advisable&#59; and</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">25</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Completion of any registration or other qualification of the Shares under any applicable national or foreign law or ruling of any governmental body that the Company determines to be necessary or advisable.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Inability to Obtain Authority</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company&#8217;s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.7</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Investment Representations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Committee may require any individual receiving Shares pursuant to an Award under this Plan to represent and warrant in writing that the individual is acquiring the Shares for investment and without any present intention to sell or distribute such Shares.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.8</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Employees Based Outside of the United States</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Notwithstanding any provision of this Plan to the contrary, in order to comply with the laws in other countries in which the Company or any Subsidiaries operate or have Employees or Directors, the Committee, in its sole discretion, shall have the power and authority to&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Determine which Subsidiaries shall be covered by this Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(b)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Determine which Employees or Directors outside the United States are eligible to participate in this Plan&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(c)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:24.34pt">Modify the terms and conditions of any Award granted to Employees or Directors outside the United States to comply with applicable foreign laws&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(d)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Establish sub-plans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable. Any sub-plans and modifications to Plan terms and procedures established under this Section 21.8 by the Committee shall be attached to this Plan document as appendices&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(e)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:23.78pt">Take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local government regulatory exemptions or approvals.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Notwithstanding the above, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate applicable law.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.9</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:18.5pt">Uncertificated Shares</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. To the extent that this Plan provides for issuance of certificates to reflect the transfer of Shares, the transfer of such Shares may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.10</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">Unfunded Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Participants shall have no right, title or interest whatsoever in or to any investments that the Company or any Subsidiaries may make to aid it in meeting its obligations under this Plan. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and any </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">26</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Participant, beneficiary, legal representative or any other individual. To the extent that any individual acquires a right to receive payments from the Company or any Subsidiary under this Plan, such right shall be no greater than the right of an unsecured general creditor of the Company or the Subsidiary, as the case may be. All payments to be made hereunder shall be paid from the general funds of the Company, or the Subsidiary, as the case may be, and no special or separate fund shall be established, and no segregation of assets shall be made to assure payment of such amounts except as expressly set forth in this Plan.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.11</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">No Fractional Shares</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. No fractional Shares shall be issued or delivered pursuant to this Plan or any Award. The Committee shall determine whether cash, Awards or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.12</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">Retirement and Welfare Plans</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Neither Awards made under this Plan nor Shares or cash paid pursuant to such Awards may be included as &#8220;compensation&#8221; for purposes of computing the benefits payable to any Participant under the Company&#8217;s or any Subsidiary&#8217;s retirement plans (both qualified and nonqualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into account in computing a Participant&#8217;s benefit.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.13</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">Deferred Compensation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. It is intended that any Award under this Plan shall either be exempt from Code Section 409A or shall comply, in form and operation, with Code Section 409A. If a Participant is a &#8220;specified employee&#8221; as defined under Code Section 409A and the Participant&#8217;s Award is to be settled on account of the Participant&#8217;s separation from service (for reasons other than death) and such Award constitutes &#8220;deferred compensation&#8221; as defined under Code Section 409A, then any portion of the Participant&#8217;s Award that would otherwise be settled during the six-month period commencing on the Participant&#8217;s separation from service shall be settled as soon as practicable following the conclusion of the six-month period (or following the Participant&#8217;s death if it occurs during such six-month period). Any Awards that are subject to Code Section 409A shall be interpreted in a manner that complies with Code Section 409A.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.14</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">Nonexclusivity of this Plan</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The adoption of this Plan shall not be construed as creating any limitations on the power of the Board or Committee to adopt such other compensation arrangements as it may deem desirable for any Participant.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.15</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">No Constraint on Corporate Action</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Nothing in this Plan shall be construed to&#58; (i) limit, impair, or otherwise affect the Company&#8217;s or a Subsidiary&#8217;s right or power to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell or transfer all or any part of its business or assets&#59; or, (ii) limit the right or power of the Company or a Subsidiary to take any action that such entity deems to be necessary or appropriate.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.16</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">Governing Law</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The Plan and each Award Agreement shall be governed by the laws of the state of Ohio excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Plan to the substantive law of another jurisdiction.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:9.5pt;font-weight:400;line-height:140%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Any legal action related to this Plan or the Awards hereunder may be brought in any federal or state court located in Hamilton County, Ohio, USA, and by accepting an Award, the Participant agrees to accept the jurisdiction </font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">27</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:12pt;text-align:right;text-indent:36pt"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">of these courts and consent to service of process from said courts solely for legal actions related to the Plan and any Awards.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.17</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">Delivery and Execution of Electronic Documents</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. To the extent permitted by applicable law, the Company may (i) deliver by email or other electronic means (including posting on a website maintained by the Company or by a third party under contract with the Company) all documents relating to the Plan or any Award thereunder (including without limitation, prospectuses required by the Commission) and all other documents that the Company is required to deliver to its security holders (including without limitation, annual reports and proxy statements) and (ii) permit Participant&#8217;s to electronically execute applicable Plan documents (including, but not limited to, Award Agreements) in a manner prescribed to the Committee.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.18</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">No Representations or Warranties Regarding Tax Effect</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Notwithstanding any provision of the Plan to the contrary or any action taken by the Company, Subsidiaries, or the Board with respect to any income tax, social insurance, payroll tax, or other tax, the acceptance of an Award under the Plan represents the Participant&#8217;s acknowledgement that the ultimate liability for any such tax owed by the Participant is and remains the Participant&#8217;s responsibility, and that the Company makes no representations or warranties about the tax treatment of any Award, and does not commit to structure any aspect of the Award to reduce or eliminate a Participant&#8217;s tax liability, including without limitation, under Code Sections 409A and 457A.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:140%">21.19</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:140%;padding-left:13.5pt">Successors</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. All obligations of the Company under this Plan with respect to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and&#47;or assets of the Company.</font></div><div style="height:84.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:140%">28</font></div><div style="margin-bottom:12pt"><font><br></font></div></div></div></body></html>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>5
<FILENAME>exhibit231-deloitteconsent.htm
<DESCRIPTION>EX-23.1
<TEXT>
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<title>Document</title></head><body><div id="if4b585913b45499a8dae582b71285022_1"></div><div style="min-height:72pt;width:100%"><div style="margin-bottom:8pt"><font><br></font></div></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:125%">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:125%">We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated August 4, 2025, relating to the financial statements of The Procter &#38; Gamble Company and the effectiveness of The Procter &#38; Gamble Company&#8217;s internal control over financial reporting, appearing in the Annual Report on Form 10-K of The Procter &#38; Gamble Company for the year ended June 30, 2025. </font></div><div style="margin-bottom:8pt"><font><br></font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:125%">&#47;s&#47; Deloitte &#38; Touche LLP</font></div><div style="margin-bottom:8pt"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Cincinnati, Ohio</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">October 30, 2025</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:8pt"><font><br></font></div></div></div></body></html>
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