<SEC-DOCUMENT>0001019056-16-001282.txt : 20160429
<SEC-HEADER>0001019056-16-001282.hdr.sgml : 20160429
<ACCEPTANCE-DATETIME>20160429110325
ACCESSION NUMBER:		0001019056-16-001282
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20160429
DATE AS OF CHANGE:		20160429
EFFECTIVENESS DATE:		20160429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STEVEN MADDEN, LTD.
		CENTRAL INDEX KEY:			0000913241
		STANDARD INDUSTRIAL CLASSIFICATION:	FOOTWEAR, (NO RUBBER) [3140]
		IRS NUMBER:				133588231
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23702
		FILM NUMBER:		161603586

	BUSINESS ADDRESS:	
		STREET 1:		52-16 BARNETT AVE
		CITY:			LONG ISLAND CITY
		STATE:			NY
		ZIP:			11104
		BUSINESS PHONE:		7184461800

	MAIL ADDRESS:	
		STREET 1:		52-16 BARNETT AVENUE
		CITY:			LONG ISLAND CITY
		STATE:			NY
		ZIP:			11104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MADDEN STEVEN LTD
		DATE OF NAME CHANGE:	19931008
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>smadden_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
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     <TITLE></TITLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 14pt; text-transform: uppercase"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 14pt; text-transform: uppercase"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>Washington,
D.C. 20549</B></FONT></P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 18pt; text-transform: uppercase"><B>SCHEDULE
14A</B></FONT><BR>
<FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>(Rule 14a-101)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>INFORMATION
REQUIRED IN PROXY STATEMENT</B></FONT><BR>
<FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>SCHEDULE 14A INFORMATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>Proxy Statement Pursuant to Section 14(a)
of the</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>Securities
Exchange Act of 1934 (Amendment No. __)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Filed by the Registrant <FONT STYLE="font-family: Wingdings">&#254;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-size: 10pt">Filed by a Party other than
the Registrant <FONT STYLE="font-family: Wingdings">o</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-size: 10pt">Check the appropriate box:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font-size: 10pt">&nbsp;Preliminary
Proxy Statement</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font-size: 10pt">&nbsp;Confidential,
for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font-size: 10pt">&nbsp;Definitive
Proxy Statement</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Wingdings">&#254;</FONT><FONT STYLE="font-size: 10pt">&nbsp;Definitive
Additional Materials</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font-size: 10pt">&nbsp;Soliciting
Material Pursuant to &#167;240.14a-12</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; font: 24pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 24pt"><B>Steven
    Madden, Ltd.</B></FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name
    of Registrant as Specified in Its Charter)</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name
    of Person(s) Filing Proxy Statement, if Other Than the Registrant)</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-size: 10pt">Payment of Filing Fee (Check
the appropriate box):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Wingdings">&#254;</FONT><FONT STYLE="font-size: 10pt">&nbsp;No
fee required.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font-size: 10pt">&nbsp;Fee
computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.65in">&nbsp;</TD>
    <TD STYLE="width: 0.35in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(1)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title
    of each class of securities to which transaction applies:</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(2)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Aggregate
    number of securities to which transaction applies:</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(3)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Per
    unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
    the filing fee is calculated and state how it was determined):</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(4)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Proposed
    maximum aggregate value of transaction:</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(5)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Total
    fee paid:</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font-size: 10pt">&nbsp;Fee
paid previously with preliminary materials.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font: 10pt Wingdings">o</FONT><FONT STYLE="font-size: 10pt">&nbsp;Check
box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting
fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of
its filing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.65in">&nbsp;</TD>
    <TD STYLE="width: 0.35in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Amount Previously Paid:&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form, Schedule or Registration Statement No.:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Filing Party:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Date Filed:</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="smadden001_v1.jpg" ALT=""><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>52-16
Barnett Avenue</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Island
City, New York 11104</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">TO
THE STOCKHOLDERS:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors of Steven Madden, Ltd. (the &ldquo;Company&rdquo;) has determined to recommend an additional proposal for stockholder
approval at the Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;), to be held on Friday, May&nbsp;27, 2016, at
the Company&rsquo;s showroom located at 1370 Avenue of the Americas, 14th Floor, New York, New York at 10:00 a.m., local time.
The additional proposal is being included for the purpose of re-approving the material terms of the performance goals under The
Steven Madden, Ltd. 2006 Stock Incentive Plan (the &ldquo;Plan&rdquo;) pursuant to Section 162(m) of the Internal Revenue Code.
Because this proposal was not described in our Proxy Statement, dated April 8, 2016, we are providing additional information in
the enclosed Supplement to the Proxy Statement and an amended proxy card or voting instruction card to allow our stockholders
to vote on this proposal. The date and place for the Annual Meeting has not changed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PLEASE
NOTE THAT WE HAVE ENCLOSED A REVISED PROXY CARD. WE ASK THAT YOU CONSIDER THESE MATERIALS AND THE INSTRUCTIONS ON
HOW TO VOTE IN ORDER TO EFFECTIVELY VOTE FOR ALL PROPOSALS.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">You
may vote on all four proposals by one of the alternatives described in the accompanying Supplement to the Proxy Statement. The
receipt of your new proxy or voting instructions will revoke and supersede any proxy or voting instructions previously submitted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
order to vote on the newly-added proposal, you must sign and return the enclosed revised proxy card, vote by telephone or over
the Internet or attend the Annual Meeting and vote in person. Your vote on this new proposal is very important. Therefore, we
request that you complete the attached revised proxy card with your vote on Proposals 1-4, regardless of whether or not you have
already returned the original proxy card previously sent to you, or you may vote by telephone or over the Internet. If you already
completed and returned the original proxy card, by completing, signing and mailing the enclosed revised proxy card you will replace
the original proxy card in its entirety and only your vote as indicated on the revised proxy card will be counted. If you have
already voted by telephone or over the Internet, you may simply vote again, using the same procedures, in which case your later
submitted vote will be recorded and your earlier vote revoked. <B>If you have already voted and do not submit new voting instructions,
your previously submitted proxy or voting instructions will be voted at the Annual Meeting with respect to all other proposals
but will not be counted in determining the outcome of the newly added proposal.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Your
vote is important. Please read the Proxy Statement that was previously made available to you and the Supplement to the Proxy Statement
in their entirety, as together they contain information that is important to your decisions in voting at the Annual Meeting. For
specific instructions on how to vote your shares, please follow the procedures outlined in the Proxy Statement previously sent
to you or refer to the section in the Supplement entitled &ldquo;Questions and Answers About the Meeting and New Proposal 4&rdquo;.
Thank you.</FONT></P>

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    <TD STYLE="vertical-align: bottom; width: 52%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: bottom; width: 48%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Very
    truly yours,</FONT></td>
    <TD STYLE="vertical-align: top; width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April
                                         29, 2016</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Long
        Island City, New York</FONT></P></td>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;<IMG SRC="smadden002_v1.jpg" ALT=""></FONT></td>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Edward
    R. Rosenfeld</FONT></td>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chairman</FONT></td>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
</table>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>AMENDED
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>TO
BE HELD ON MAY&nbsp;27, 2016</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">TO
THE STOCKHOLDERS:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;)&nbsp;of Steven Madden, Ltd. (the &ldquo;Company&rdquo;)&nbsp;will
be held on Friday, May&nbsp;27, 2016, at the Company&rsquo;s showroom located at 1370 Avenue of the Americas, 14th Floor, New
York, New York at 10:00 a.m., local time, for the purposes stated below:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 4%; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 4%; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 4%; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 88%; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></td>
    <TD COLSPAN="2" STYLE="padding-bottom: 10pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    elect eight (8)&nbsp;directors to the Board of Directors of the Company;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.</FONT></td>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 10pt; text-align: justify">to
                                         ratify the appointment of EisnerAmper LLP as the Company&rsquo;s independent registered
                                         public accounting firm for the fiscal year ending December&nbsp;31, 2016;</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.</FONT></td>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">to
                                         approve, on a non-binding advisory basis, the compensation of certain executive officers
                                         as disclosed in the proxy statement;</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P></td>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 10pt; text-align: justify">to re-approve the
    material terms of the performance goals under The Steven Madden, Ltd.                                          2006 Stock
    Incentive Plan pursuant to Section 162(m) of the Internal Revenue Code; and</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">to transact such other business
    as may properly come before the Annual Meeting or any adjournments or postponements thereof.</FONT></TD></TR>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Only
those stockholders of record at the close of business on April&nbsp;1, 2016, the record date for the Annual Meeting, are entitled
to notice of and to vote at the Annual Meeting and any adjournments thereof. Stockholders of record at the close of business on
April&nbsp;1, 2016, the record date for the Annual Meeting, will be admitted to the Annual Meeting upon presentation of valid,
government-issued photo identification, such as a driver&rsquo;s license. Stockholders who own shares of the Company&rsquo;s common
stock beneficially through a bank, broker or other nominee will be admitted to the Annual Meeting upon presentation of valid,
government-issued photo identification and proof of ownership or a valid proxy signed by the record holder. A recent brokerage
statement or a letter from a bank or broker are examples of proof of ownership. If you own shares of the Company&rsquo;s common
stock beneficially and want to vote in person at the Annual Meeting, you should contact your broker or applicable agent in whose
name the shares are registered to obtain a broker&rsquo;s proxy and bring it to the Annual Meeting in order to vote.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
preceding items of business are more fully described in the Company&rsquo;s Proxy Statement, dated April 8, 2016, with the exception
of Proposal 4, which is described in the accompanying Supplement to the Proxy Statement. If you received a Notice of Internet
Availability of Proxy Materials on or about April 8, 2016, you may access the Proxy Statement online at <U>www.proxyvote.com</U>.
Otherwise, you should have received a printed copy of the Proxy Statement on or about April 25, 2016. Any action on the items
of business described above may be considered at the Annual Meeting at the time and on the date specified above or at any time
and date to which the Annual Meeting may be properly adjourned or postponed. We expect to mail the Supplement to the Proxy Statement
and this Amended Notice of Annual Meeting of Stockholders on or about April 29, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>If
you do not expect to attend the Annual Meeting in person, you are requested to vote: (1) by telephone as directed on the instructions
that you received; (2) over the Internet as directed on the instructions that you received; or (3) by completing, signing and
dating the enclosed proxy card and returning it without delay. </B>Voting by phone, Internet or mail will not prevent you from
later revoking that proxy and voting in person at the Annual Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>IMPORTANT
NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY&nbsp;27, 2016: THE
AMENDED NOTICE OF ANNUAL MEETING, PROXY STATEMENT, SUPPLEMENT TO THE PROXY STATEMENT, ANNUAL REPORT, ELECTRONIC AMENDED PROXY
CARD AND ANY OTHER MATERIALS CONCERNING THE ANNUAL MEETING, TOGETHER WITH ANY AMENDMENTS TO ANY OF THESE MATERIALS, ARE AVAILABLE
ON THE INTERNET AT <U>WWW.PROXYVOTE.COM</U>. </B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; width: 52%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; width: 48%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: bottom; width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">BY
    ORDER OF THE BOARD OF DIRECTORS</FONT></td>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April
                                         29, 2016</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Long
        Island City, New York</FONT></P></td>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><IMG SRC="smadden003_v1.jpg" ALT=""></td>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Arvind
    Dharia</FONT></td>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
</table>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: Red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="smadden001_v1.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>STEVEN
MADDEN, LTD. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>52-16
Barnett Avenue</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Long
Island City, New York 11104</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>SUPPLEMENT
TO THE PROXY STATEMENT FOR THE ANNUAL MEETING OF<BR>
STOCKHOLDERS TO BE HELD ON MAY 27, 2016</B></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
Supplement to the Proxy Statement (this &ldquo;Supplement&rdquo;) supplements and amends the Proxy Statement, dated April 8, 2016
(the &ldquo;Proxy Statement&rdquo;), previously made available to stockholders in connection with the solicitation of proxies
for use at the 2016 Annual Meeting of Stockholders of Steven Madden, Ltd.. or at any adjournments or postponements thereof (the
&ldquo;Annual Meeting&rdquo;), for the purposes set forth in the accompanying Amended Notice of Annual Meeting. The Annual Meeting
will be held at the Company&rsquo;s showroom located at 1370 Avenue of the Americas, 14th Floor, New York, New York on Friday,
May&nbsp;27, 2016 at 10:00 a.m., local time. Proxies also may be voted at any adjournments or postponements of the Annual Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
or about April 8, 2016, a notice containing instructions on how to access online the Proxy Statement, the accompanying
proxy card and related materials was mailed to holders of record of common stock, $.0001 par value, of the Company (the &ldquo;Common
Stock&rdquo;)&nbsp;at the close of business on April&nbsp;1, 2016 (the &ldquo;Record Date&rdquo;). The Company&rsquo;s Annual
Report to Stockholders for the fiscal year ended December&nbsp;31, 2015 (the &ldquo;2015 Fiscal Year&rdquo;), including audited
financial statements, is included in the materials that are accessible online. The Proxy Statement and this Supplement contain
information about the Annual Meeting as well as information regarding the voting process, director elections, our corporate governance
programs and executive and director compensation, among other things. We recommend that you read all of these materials. Capitalized
terms used in this Supplement and not otherwise defined have the meanings given to them in the Proxy Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
Supplement is being furnished to provide information related to a newly-added Proposal 4 that the Board of Directors has recommended
for stockholder approval at the Annual Meeting (&ldquo;Proposal 4&rdquo;), which proposal seeks re-approval of the material terms
of the performance goals under The Steven Madden, Ltd. 2006 Stock Incentive Plan (the &ldquo;Plan&rdquo;) pursuant to Section
162(m) of the Internal Revenue Code (the &ldquo;Code&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
Supplement does not provide all of the information that is important to your decisions in voting at the Annual Meeting. Additional
information is contained in the Proxy Statement for the Annual Meeting that was previously made available to you. If you previously
received a Notice of Internet Availability of Proxy Materials, which we mailed on or about April 8, 2016, you may view the Proxy
Statement, the Annual Report to Stockholders for the 2015 Fiscal Year, this Supplement, the amended proxy card, and the Amended
Notice of 2016 Annual Meeting of Stockholders at <U>www.proxyvote.com</U>. Otherwise you should have received printed copies of
the Proxy Statement, Annual Report to Stockholders, proxy card and a Notice of the 2016 Annual Meeting of Stockholders on or about
April 25, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
amended proxy card or voting instruction card enclosed with this Supplement differs from the proxy card or voting instruction
card previously furnished to you with the Proxy Statement, in that the enclosed proxy card or voting instruction card includes
Proposal 4. You may vote on all four proposals by submitting the amended proxy card or voting instruction card enclosed with this
Supplement or submitting a proxy via the Internet or by telephone by following the procedures on your amended proxy card or voting
instruction card. The receipt of your new proxy or voting instructions will revoke and supersede any proxy or voting instructions
previously submitted. If you have already voted and do not submit new voting instructions, your previously submitted proxy or
voting instructions will be voted at the Annual Meeting with respect to all other proposals but will not be counted in determining
the outcome of the newly added Proposal 4.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Except
for the addition of Proposal 4, this Supplement does not modify, amend, supplement or otherwise affect any matter presented for
consideration in the Proxy Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>THE
PROXY STATEMENT CONTAINS IMPORTANT ADDITIONAL INFORMATION AND THIS SUPPLEMENT SHOULD BE READ IN CONJUNCTION WITH THE PROXY STATEMENT.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
Supplement is being filed with the Securities and Exchange Commission and being made available to stockholders on or about April
29, 2016.</FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>QUESTIONS
AND ANSWERS ABOUT THE ANNUAL MEETING AND PROPOSAL 4</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>What
                                         am I voting on?</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">You
will be voting on each of the following items of business:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; padding: 0 0 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 0.25in; padding: 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
elect eight (8)&nbsp;directors to the Board of Directors of the Company;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0 0 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
                                         ratify the appointment of EisnerAmper LLP as the Company&#8217;s independent registered
                                         public accounting</FONT>
        <FONT STYLE="font: 10pt Times New Roman, Times, Serif">firm
        for the fiscal year ending December&nbsp;31, 2016;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0 0 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
approve, on a non-binding advisory basis, the compensation of certain executive officers as disclosed</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">in
the proxy statement;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0 0 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
                                         re-approve the material terms of the performance goals under The Steven Madden, Ltd.
                                         2006 Stock</FONT>
       <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Incentive
        Plan (the &ldquo;Plan&rdquo;) pursuant to Section 162(m) of the Internal Revenue Code; and</FONT>
        </td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0 0 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0 0 10pt; text-indent: 0">&nbsp;to transact such other
business as may properly come before the Annual Meeting or any adjournments or postponements thereof.</TD></TR>
</table>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>What
                                         are the voting recommendations of the Board of Directors?</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
the reasons set forth in more detail in the Proxy Statement and in this Supplement, THE BOARD RECOMMENDS THAT YOU VOTE:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#8220;FOR&#8221;
                                         THE ELECTION OF THE EIGHT (8) DIRECTORS TO THE BOARD OF DIRECTORS OF THE COMPANY;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#8220;FOR&#8221;
                                         THE RATIFICATION OF THE APPOINTMENT OF EISNERAMPER LLP AS THE COMPANY&#8217;S INDEPENDENT
                                         REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2016;</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#8220;FOR&#8221;
                                         THE APPROVAL, ON A NON-BINDING ADVISORY BASIS, OF THE COMPENSATION OF CERTAIN EXECUTIVE
                                         OFFICERS AS DISCLOSED IN THE PROXY STATEMENT; AND</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#8220;FOR&#8221;
                                         THE RE-APPROVAL OF THE MATERIAL TERMS OF THE PERFORMANCE GOALS UNDER THE STEVEN MADDEN,
                                         LTD. 2006 STOCK INCENTIVE PLAN PURSUANT TO SECTION 162(m) OF THE INTERNAL REVENUE CODE.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>How
                                         can I obtain electronic access to the proxy materials?</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">You
may view the Proxy Statement, the Annual Report, this Supplement, the amended proxy card, and the Amended Notice of Annual Meeting
of Stockholders at <U>www.proxyvote.com.</U> The Notice of Internet Availability of Proxy Materials, which we mailed commencing
on or about April 8, 2016, provides you with instructions regarding how to:</FONT></P>

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<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">view
                                         the proxy materials for the Annual Meeting on the Internet; and</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></FONT></FONT></FONT></FONT></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">instruct
                                         us to send future proxy materials to you electronically by email.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>4.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>How
                                         do I vote?</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Your
vote is important. Your shares can be voted at the Annual Meeting only if you are present in person or represented by proxy. Even
if you plan to attend the Annual Meeting, we urge you to authorize your proxy in advance. You may vote your shares by authorizing
a proxy over the Internet or by telephone. In addition, if you received a paper copy of the proxy materials by mail, you can also
submit a proxy by mail by following the instructions on the proxy card. Voting your shares by authorizing a proxy over the Internet,
by telephone or by written proxy card will ensure your representation at the Annual Meeting regardless of whether you attend in
person.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
you are the record holder of your shares, please authorize your proxy electronically by going to the <U>http://www.proxyvote.com</U> website or by calling the toll-free number listed below and on the proxy card. Please have your Proxy Statement or proxy card
in hand when going online or calling. If you authorize your proxy via the Internet or by phone you do not need to return your
proxy card. If you choose to authorize your proxy by mail, simply mark your proxy card and then date, sign and return it in the
postage-paid envelope provided.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 31%; border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">VOTE
                                         BY INTERNET</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>http://www.proxyvote.com</U></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Use
        the Internet to transmit your voting instructions and for electronic delivery of information.</FONT></P></td>
    <TD STYLE="width: 29%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">VOTE
                                         BY PHONE</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1-800-690-6903</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Use
        any touch-tone telephone to transmit your voting instructions.</FONT></P></td>
    <TD STYLE="width: 40%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">VOTE
                                         BY MAIL</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vote
        Processing, c/o Broadridge<br>
        51 Mercedes Way<br>
        Edgewood, New York 11717</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
        you receive paper proxy materials, mark, sign and date your proxy card and return it in the postage-paid envelope we have
        provided or return it to the address shown above.</FONT></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
you hold your shares beneficially in &ldquo;street name&rdquo; through a broker or nominee you may be able to authorize your proxy
by telephone or the Internet as well as by mail, but you will need to obtain and follow instructions from your broker or nominee
to vote these shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>5.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>What
                                         vote is needed to approve Proposal 4?</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
affirmative vote of a majority of the shares of Common Stock present in person or represented by proxy at the Annual Meeting and
entitled to vote is required to approve Proposal 4. If you are a stockholder whose shares of Common Stock are held in street name
with a bank, broker or other nominee, your bank, broker or other nominee will not be permitted to vote your shares on non-routine
matters. Proposal 4 is considered a non-routine matter, which means that your bank, broker or other nominee does not have discretion
to vote your shares in respect of Proposal 4 in the absence of specific instructions from you as to how you would like your shares
to be voted. If you do not return your voting instruction card, your bank, broker or other nominee will not be permitted to vote
your shares on Proposal 4, resulting in a broker non-vote. Broker non-votes will have no effect on the outcome of the vote on
Proposal 4. Abstentions will be treated as present and entitled to vote on Proposal 4 and, therefore, abstentions will have the
effect of votes against Proposal 4.</FONT></P>

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<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>6.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>What
                                         should I do if I have previously voted?</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
order to vote on Proposal 4, you must sign and return the revised proxy card enclosed with this Supplement, vote by telephone
or over the Internet as described above or attend the Annual Meeting and vote in person. If you have already completed
and returned the original proxy card previously sent to you and you also complete and return the enclosed revised proxy card,
the completed and signed revised proxy card will replace the original proxy card in its entirety and only your vote as
indicated on the revised proxy card will be counted. </FONT>This means that, in order to vote with respect to all four proposals,
you must vote again for Proposals 1, 2 and 3 in addition to voting for Proposal 4.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>If
you have already completed and returned the original proxy card and you do not complete and return a signed revised proxy card,
your vote for Proposals 1, 2 and 3 as indicated on the original proxy card will be voted at the Annual Meeting, but will <U>not</U> include a vote with respect to Proposal 4. If you have already voted by telephone or over the Internet, you may simply vote
again, using the same procedures, in which case your later submitted vote will be recorded and your earlier vote revoked. If you
have already voted by telephone or over the Internet and do not vote again, your vote for Proposals 1, 2 and 3 will be recorded
but will <U>not</U> include a vote on Proposal 4. Therefore, we urge you to cast your vote with respect to all proposals using
the revised proxy card enclosed with this Supplement or one of the other methods described in response to Question 4 above.</B></FONT></P>

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<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Who
                                         pays the cost of proxy solicitation?</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All
expenses of soliciting proxies, including clerical work, printing and postage will be paid by us. Our officers and other employees
may personally solicit proxies or solicit proxies by mail, telephone, facsimile or Internet, but we will not provide any compensation
for such solicitations. In addition, the Company has entered into an agreement with D.F. King &amp; Co., Inc. to assist in the
solicitation of proxies and provide related advice and informational support. The total expense of this engagement, which will
be borne by the Company, including customary disbursements, is not expected to exceed $20,000 in the aggregate. We will also reimburse
banks, brokers and other persons holding shares in their names or in the names of nominees for expenses incurred sending material
to beneficial owners and obtaining proxies from beneficial owners.</FONT></P>

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<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>8.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>What
                                         if I change my mind after I vote?</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Whether
you vote by telephone, Internet or mail, you may later change or revoke your proxy at any time before it is exercised by (i)
submitting a properly signed proxy with a later date, (ii) voting by telephone or the Internet at a later time, or (iii) voting
in person at the Annual Meeting. See the enclosed revised proxy card for instructions. Attendance at the Annual Meeting will not
by itself revoke a previously granted proxy.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
you are a stockholder whose stock is held in street name with a bank, broker or other nominee, you must follow the instructions
found on the voting instruction card provided by the bank, broker or other nominee, or contact your bank, broker or other nominee
to change or revoke your previously given proxy.</FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>RE-APPROVAL
OF THE MATERIAL TERMS OF THE PERFORMANCE GOALS UNDER</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>THE
STEVEN MADDEN, LTD. 2006 STOCK INCENTIVE PLAN</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PURSUANT
TO SECTION 162(m) OF THE INTERNAL REVENUE CODE</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>[Proposal
4 on the revised proxy card]</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Overview</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors recommends that stockholders vote &ldquo;FOR&rdquo; the re-approval of the material terms of the
performance goals under The Steven Madden, Ltd. 2006 Stock Incentive Plan (as amended and restated, the &ldquo;Plan&rdquo;). The
performance goals are described below under the caption &ldquo;Description of the Plan &ndash; Performance Goals&rdquo; and
in Exhibit A to the Plan. A description of the material terms of the Plan is also provided below. The discussion
is qualified in its entirety by reference to the Plan, a copy of which is attached to this Supplement as <U>Annex
A</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Plan was originally adopted by the Board of Directors in March 2006 and approved by the stockholders in May 2006 as a successor
plan to a prior stock option plan. The Plan was subsequently amended in 2007 and 2008, and on April 6, 2009, an amendment and
restatement of the Plan was adopted by the Board and, subsequently, approved by the stockholders on May 22, 2009. The Plan was
further amended in May, 2012 in relevant part to increase the number of shares reserved for issuance under the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Background</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stockholders
are being asked to re-approve the material terms of the performance goals currently contained in the Plan so that the Company
can continue to deduct from its income for U.S. Federal corporate income tax purposes the full amount of the incentive awards
paid under the Plan that otherwise qualify as &ldquo;qualified performance-based compensation&rdquo; under Section 162(m) of the
Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stockholders
are <U>not</U> being asked to approve an increase in the number of shares available for grant under the Plan or any amendment
to the Plan, nor are they being asked to re-approve the Plan itself. The terms of the Plan will remain unchanged and the re-approval
does not affect the nature and amount of awards available for grant under the Plan.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
stockholders re-approve the material terms of the performance goals under the Plan at the Annual Meeting, the Board of Directors
currently anticipates that, to the extent practicable and in the Company&rsquo;s best interest, performance-based compensation
programs will be designed to satisfy the requirements of Section 162(m) of the Code to permit the deduction for tax purposes of
the full amount of such awards. The Board recognizes, however, that there may be business considerations that dictate that the
Company grant annual cash bonus awards and other equity incentive awards that may not be deductible under Section 162(m) of the
Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Under
Section 162(m) of the Code, compensation in excess of $1,000,000 paid in any one year to a &ldquo;covered employee&rdquo; of a
public corporation who is employed by the corporation at year-end will not be deductible for federal income tax purposes unless
the compensation is considered &ldquo;qualified performance-based compensation&rdquo; under Section 162(m) of the Code (or another
exemption is met). For purposes of Section 162(m) of the Code, the covered employees include the Chief Executive Officer and our
three other most highly compensated executive officers as of the last day of the taxable year other than our Chief Financial Officer
(&ldquo;Covered Employees&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
order for certain compensation to qualify as &ldquo;qualified performance-based compensation,&rdquo; among other requirements,
Section 162(m) of the Code requires that stockholders approve or re-approve the material terms of the performance goals under
which the compensation may be paid under a plan every five years. If the stockholders re-approve the material terms of the performance
goals under the Plan pursuant to Section 162(m) of the Code at the Annual Meeting, then performance-based awards granted to Covered
Employees following such stockholder approval can be designed to be Section 162(m) compliant awards. If the material terms of
the performance goals of the Plan are not re-approved at the Annual Meeting, certain incentive awards in the future to our Covered
Employees (other than options and stock appreciation rights (&ldquo;SARs&rdquo;) granted with an exercise or base price at least
equal to 100% of the fair market value of the stock as of the grant date) will not qualify as &ldquo;qualified performance-based
compensation&rdquo; and will count against the $1,000,000 deductible compensation limit otherwise imposed by Section 162(m) of
the Code.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Since
the stockholder approval of the Plan at the 2009 Annual Meeting of Stockholders, the Company has not obtained stockholder re-approval
of the material terms of the performance goals under the Plan pursuant to Section 162(m) of the Code. Accordingly, stockholder
re-approval of the material terms of the performance goals under the Plan is required at the Annual Meeting in order for certain
performance-based awards not to count against the $1,000,000 deduction limit under Section 162(m) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company believes that awards made after stockholder re-approval of the performance goals will meet the requirements of
Section 162(m). However, the Company made awards of restricted stock in March of each of 2015 and 2016 consistent with
the prior operation of the Plan but before stockholder re-approval of the performance goals. Therefore, all or a portion of such
awards that are includible in the income of certain affected executives for a tax year, if not corrected, would count against
the $1,000,000 deductible compensation limit imposed by Section 162(m).&nbsp;The Company believes that the income tax effect to
the Company of any past awards that remain subject to the $1,000,000 limit is not material. However, the Company will take such
further action as it deems appropriate with respect to the awards made in 2015 and 2016, which will include cancelation of or
other action with respect to such awards, as necessary. The Company may make awards, including awards in replacement of any canceled
awards, if the stockholders re-approve the material terms of the performance goals under the Plan pursuant to Section 162(m) of
the Code. The Company believes that subsequent to receipt of stockholder approval of Proposal 4 at the Annual Meeting, any awards
made, whether or not in replacement of any canceled awards, will not count against the $1,000,000 deduction limit under Section
162(m) of the Code, provided that such awards otherwise qualify as &ldquo;qualified performance-based compensation&rdquo; under
Section 162(m) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
rules and regulations promulgated under Section 162(m) of the Code are complicated and subject to change from time to time, sometimes
with retroactive effect. There can be no guarantee, therefore, that amounts potentially subject to the Section 162(m) limitations
will be treated by the Internal Revenue Service as qualified performance-based compensation under Section 162(m) of the Code and/or
deductible by the Company. Under the Plan, options and SARs granted with an exercise price or base price at least equal to 100%
of fair market value of the underlying stock at the date of grant, and certain other awards that are conditioned upon achievement
of performance goals can be designed to qualify as &ldquo;qualified performance-based&rdquo; compensation. A number of requirements
must be met under Section 162(m) of the Code in order for particular compensation to so qualify for the exception such that there
can be no assurance that &ldquo;qualified performance-based&rdquo; compensation under the Plan will be fully deductible under
all circumstances. In addition, other awards under the Plan, such as non-performance-based restricted stock and restricted stock
units, generally will not so qualify for the exception under Section 162(m) of the Code, so that compensation paid to certain
Covered Employees in connection with such awards may, to the extent it and other compensation subject to Section 162(m) of the
Code&rsquo;s deductibility cap exceed $1,000,000 in a given taxable year, not be deductible by the Company as a result of Section
162(m) of the Code. Compensation to certain employees resulting from vesting of awards in connection with a change in control
or termination following a change in control also may be non-deductible under Code Sections 4999 and 280G.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description
of the Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following is a brief description of certain important features of the Plan. This summary is qualified in its entirety by reference
to the full text of the Plan which is attached as Annex A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Administration.
</B>The Plan requires that it be administered by a committee consisting of two or more non-employee directors, each of whom will
be, to the extent required, a &ldquo;non-employee director&rdquo; as defined in Rule 16b-3 of the Exchange Act, an &ldquo;outside
director&rdquo; as defined under Section 162(m) of the Code and an &ldquo;independent director&rdquo; as defined under NASDAQ
Rule 5605(a)(2) (the &ldquo;Committee&rdquo;). The Committee has full authority under the Plan to administer and interpret the
Plan, to grant discretionary awards, to determine the individuals to whom awards will be granted, to determine the types of awards
to be granted, to determine the terms and conditions of each award, to determine the number of shares of Common Stock to be covered
by each award and to make all other determinations in connection with the Plan and the awards thereunder. Currently, the Compensation
Committee of the Board serves as the Committee under the Plan.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Eligibility
and Types of Awards.</B> The Company&rsquo;s employees as well as our non-employee directors and individuals providing consulting
or advisory services to the Company or its affiliates pursuant to a written agreement are eligible to receive awards under the
Plan. The types of awards available under the Plan consist of nonqualified stock options, stock appreciation rights, performance
shares, restricted stock, other stock-based awards and performance-based cash awards. In addition, the Company&rsquo;s employees
and employees of the Company&rsquo;s affiliates that qualify as subsidiaries or parent corporations (as defined under Section
424 of the Code) are eligible to be granted incentive stock options under the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Awards
Under the Plan.</B> The following types of awards are available under the Plan:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Stock
Options.</I> The Committee may grant nonqualified stock options and incentive stock options (only to eligible employees) to purchase
shares of Common Stock. The Committee will determine the number of shares of Common Stock subject to each option, the term of
each option, which may not exceed seven years (or five years in the case of an incentive stock option granted to a 10% stockholder),
the exercise price, the vesting schedule (if any), and the other material terms of each option. No incentive stock option or nonqualified
stock option may have an exercise price less than the fair market value of the Common Stock at the time of grant (or, in the case
of an incentive stock option granted to a 10% stockholder, 110% of fair market value).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Options
will be exercisable at such time and subject to such terms and conditions as determined by the Committee at grant and the exercisability
of such options may be accelerated by the Committee in its sole discretion, provided that no option is exercisable more than seven
years after the date the option is granted and, in the case of a ten percent Stockholder, five years from the date an incentive
stock option is granted. Upon the exercise of an option, the participant must make payment of the full exercise price, either
(i) in cash, check, bank draft or money order; (ii) solely to the extent permitted by law, through the delivery of irrevocable
instructions to a broker reasonably acceptable to the Company to deliver promptly to the Company an amount equal to the purchase
price; or (iii) on such other terms and condition as a may be acceptable to the Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Stock
Appreciation Rights.</I> The Committee may grant stock appreciation rights (&ldquo;SARs&rdquo;) either with a stock option which
may be exercised only at such times and to the extent the related option is exercisable (&ldquo;Tandem SAR&rdquo;) or independent
of a stock option (&ldquo;Non-Tandem SARs&rdquo;). A SAR is a right to receive a payment in Common Stock or cash (as determined
by the Committee) equal in value to the excess of the fair market value of one share of Common Stock on the date of exercise over
the exercise price per share established in connection with the grant of the SAR. The term of each SAR may not exceed seven years.
The exercise price per share covered by a SAR will be the exercise price per share of the related option in the case of a Tandem
SAR and will be the fair market value of the Common Stock on the date of grant in the case of a Non-Tandem SAR. The Committee
may also grant &ldquo;limited SARs,&rdquo; either as Tandem SARs or Non-Tandem SARs, which may become exercisable only upon the
occurrence of a change in control (as defined in the Plan) or such other event as the Committee may, in its sole discretion, designate
at the time of grant or thereafter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Restricted
Stock.</I> The Committee may award shares of restricted stock. Except as otherwise provided by the Committee upon the award of
restricted stock, the recipient generally has the rights of a stockholder with respect to the shares, including the right to receive
dividends, the right to vote the shares of restricted stock and, conditioned upon full vesting of shares of restricted stock,
the right to transfer such shares, subject to the conditions and restrictions generally applicable to restricted stock
or specifically set forth in the recipient&rsquo;s restricted stock agreement. The Committee may determine at the time of award,
that the payment of dividends, if any, will be deferred until the expiration of the applicable restriction period. Recipients
of restricted stock are required to enter into a restricted stock agreement with the Company, which states the restrictions to
which the shares are subject, which may include satisfaction of pre-established performance goals, and the criteria or date or
dates on which such restrictions will lapse.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
the grant of restricted stock or the lapse of the relevant restrictions is based on the attainment of performance goals, the Committee
will establish for each recipient the applicable performance goals, formulae or standards and the applicable vesting percentages
with reference to the attainment of such goals or satisfaction of such formulas or standards while the outcome of the performance
goals are substantially uncertain. Such performance goals may incorporate provisions for disregarding (or adjusting for) changes
in accounting methods, corporate transactions (including, without limitation, dispositions and acquisitions) and other similar
events or circumstances. Section 162(m) of the Code requires that performance awards be based upon objective performance measures.
The performance goals for performance-based restricted stock are based on one or more of the objective criteria set forth on Exhibit
A to the Plan and discussed in general below.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Performance
Shares.</I> The Committee may award performance shares. A performance share is the equivalent of one share of Common Stock. The
performance goals for performance shares are based on one or more of the objective criteria set forth on Exhibit A to the Plan
and discussed in general below. A minimum level of acceptable achievement will also be established by the Committee. If, by the
end of the performance period, the recipient has achieved the specified performance goals, he or she will be deemed to have fully
earned the performance shares. To the extent earned, the performance shares will be paid to the recipient at the time and in the
manner determined by the Committee in cash, shares of Common Stock or any combination thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Other
Stock-Based Awards.</I> The Committee may, subject to limitations under applicable law, make a grant of such other stock-based
awards (including, without limitation, performance units, dividend equivalent units, stock equivalent units, restricted stock
units and deferred stock units) under the Plan that are payable in cash or denominated or payable in or valued by shares of Common
Stock or factors that influence the value of such shares. The Committee will determine the terms and conditions of any such other
awards, which may include the achievement of certain minimum performance goals for purposes of compliance with Section 162(m)
of the Code and/or a minimum vesting period. The performance goals for performance-based other stock-based awards are based on
one or more of the objective criteria set forth on Exhibit A to the Plan and discussed in general below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Performance-Based
Cash Awards.</I> The Committee may, subject to limitations under applicable law, make a grant of individual target awards either
alone or in tandem with stock options, SARs or restricted stock under the Plan that are contingent upon the satisfaction of certain
pre-established performance goals that are reached within a specified performance period, each of which, together with any other
terms and conditions, shall be determined by the Committee in its sole discretion at the time of grant. At the time the performance
goals are established, the Committee will prescribe a formula to determine the percentages (which may be greater than 100%) of
the individual target award that may be payable based upon the degree of attainment of the performance goals during the
calendar year. The Committee may, in its sole discretion, elect to pay a participant an amount that is less than the participant&rsquo;s
individual target award regardless of the degree of attainment of the performance goals; provided that no such discretion to reduce
a performance-based cash award earned based on achievement of the applicable performance goals will be permitted for a calendar
year in which a change in control occurs. The performance goals for performance-based cash awards are based on one or more of
the objective criteria set forth on Exhibit A to the Plan and discussed in general below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Limitation.
</B>Notwithstanding any other provisions in the Plan or in any employment agreement, the restrictions or vesting conditions, as
applicable, to restricted stock awards, other stock-based awards and performance-based awards can be no less than (i) one year,
if the lapsing of restrictions or vesting schedule, as applicable, is based (in whole or in part) on the attainment of one or
more performance goals, and (ii) three years, if the lapsing of restrictions or the vesting schedule, as applicable, is based
solely on the continued performance of services by the Plan participant (with restrictions as to no more than one-third
of shares of Common Stock subject thereto lapsing on each of the first three anniversaries of the date of grant); provided
that, the Committee is authorized to provide for earlier lapsing of the restrictions or acceleration of vesting, as applicable,
in the event of a change in control of the Company or a participant&rsquo;s retirement, death or disability. The preceding limitation
does not apply with respect to up to 10% (when combined with the 10% limitation for non-employee director award grants) of the
total number of shares of Common Stock reserved for awards under Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Performance
Goals</B>. The Committee may grant awards of restricted stock, performance shares, performance-based cash awards and other stock-based
awards that are intended to qualify as &ldquo;performance-based compensation&rdquo; for purposes of Section 162(m) of the Code.
These awards may be granted, vest and be paid based on attainment of specified performance goals established by the Committee.
These performance goals are based on the attainment of a certain target level of, or a specified increase or decrease in, one
or more of the following criteria selected by the Committee:</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 7%; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 3%; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="width: 90%; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">earnings
    per share, earnings before interest and taxes or earnings before interest, taxes, depreciation and amortization;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">gross
    profit or gross profit return on investment;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">gross
    margin or gross margin return on investment;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">operating
    income, net income, cash flow or economic value added;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">revenue
    growth;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">working
    capital;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">specified
    objectives with regard to limiting the level of increase in all or a portion of, the Company&rsquo;s bank debt or other long-term
    or short-term public or private debt or other similar financial obligations of the Company, which may be calculated net of
    cash balances and/or other offsets and adjustments as may be established by the Committee;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">return
    on equity, assets or capital;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">total
    shareholder return;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">fair
    market value of the shares of the Common Stock;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">market
    share and/or market segment share;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the
    growth in the value of an investment in the Common Stock assuming the reinvestment of dividends;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">customer
    satisfaction, customer loyalty, brand recognition and/or brand acceptance;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">style
    indexes;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">employee
    retention;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">number
    of new patents, new product innovation and/or introduction;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">product
    release schedules and/or ship targets; or</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">reduction
    in expenses and/or product cost reduction through advanced technology.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">To
the extent permitted by law, the Committee may also exclude the impact of an event or occurrence such as restructurings, discontinued
operations, extraordinary items and other unusual or non-recurring charges, an event either not directly related to the operations
of the Company or not within the reasonable control of the Company&rsquo;s management, or a change in accounting standards required
by generally accepted accounting principles, which the Committee determines should be appropriately excluded. Performance goals
may also be based on individual participant performance goals, as determined by the Committee, in its sole discretion or they
may be based upon the attainment of specified levels of Company (or subsidiary, division or other operational unit of the Company)
performance under one or more of the measures described above relative to the performance of other corporations. The Committee
may designate additional business criteria on which the performance goals may be based or adjust, modify or amend those criteria.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Term,
Amendment and Termination.</B> The term of the Plan extends for a period of ten years from April 6, 2009 and, accordingly, will
remain in effect unless sooner terminated through April 6, 2019. Notwithstanding any other provision of the Plan, the Board may
at any time amend any or all of the provisions of the Plan, or suspend or terminate it entirely, retroactively or otherwise; provided,
however, that, unless otherwise required by law or specifically provided in the Plan, the rights of a participant with respect
to awards granted prior to such amendment, suspension or termination may not be adversely affected without the consent of such
participant and, provided further that the approval of the Company&rsquo;s stockholders will be obtained to the extent required
by Delaware law, Sections 162(m) and 422 of the Code, The Nasdaq Global Select Market or the rules of such other applicable stock
exchange, as specified in the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Repricing
Options and Stock Appreciation Rights.</B> The Plan includes an additional express prohibition against repricing stock options
and stock appreciation rights. The Company may not, without stockholder approval, either (i) reduce the exercise price of an outstanding
stock option or stock appreciation right, or (ii) simultaneously cancel stock options or stock appreciation rights for which the
exercise price exceeds the then current fair market value of the underlying Common Stock and grant a new stock option or stock
appreciation right with an exercise price equal to the then current fair market value of the underlying Common Stock.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Certain
U.S. Federal Income Tax Consequences</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
rules concerning the federal income tax consequences with respect to options granted and to be granted pursuant to the Plan are
quite technical. Moreover, the applicable statutory provisions are subject to change, as are their interpretations and applications,
which may vary in individual circumstances. Therefore, the following is designed to provide a general understanding of the federal
income tax consequences. In addition, the following discussion does not set forth any gift, estate, Social Security or state or
local tax consequences that may be applicable and is limited to the U.S. federal income tax consequences to individuals who are
citizens or residents of the U.S., other than those individuals who are taxed on a residence basis in a foreign country.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Incentive
Stock Options.</I> In general, an employee will not recognize taxable income upon either the grant or the exercise of an incentive
stock option and the Company will not receive an income tax deduction at either such time. In general, however, for purposes of
the alternative minimum tax, the excess of the fair market value of the shares of Common Stock acquired upon exercise of an incentive
stock option (determined at the time of exercise) over the exercise price of the incentive stock option will be considered income.
If the recipient is continuously employed on the date of grant until the date three months prior to the date of exercise and such
recipient does not sell Common Stock received pursuant to the exercise of the incentive stock option within either (i) two years
after the date of the grant of the incentive stock option or (ii) one year after the date of exercise, a subsequent sale of Common
Stock will result in long-term capital gain or loss to the recipient and will not result in a tax deduction to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
the recipient is not continuously employed on the date of grant until the date three months prior to the date of exercise or such
recipient disposes of Common Stock acquired upon exercise of the incentive stock option within either of the above-mentioned time
periods, the recipient will generally recognize as ordinary income an amount equal to the lesser of (i) the fair market value
of Common Stock on the date of exercise over the exercise price, or (ii) the amount realized upon disposition over the exercise
price. In such event, subject to the limitations under Sections 162(m) and 280G of the Code (as described below), the Company
generally will be allowed an income tax deduction equal to the amount recognized as ordinary income. Any gain in excess of such
amount recognized by the recipient as ordinary income would be taxed at the rates applicable to short-term or long-term capital
gains (depending on the holding period).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">To
the extent that the aggregate fair market value (determined as of the time of grant) of the Common Stock with respect to which
incentive stock options are exercisable for the first time by a participant during any calendar year under the Plan and/or any
other stock option plan of the Company or affiliate exceeds $100,000, such options are treated as non-qualified stock options.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Nonqualified
Stock Options</I>. A recipient will not recognize any taxable income upon the grant of a nonqualified stock option and the Company
will not receive a deduction at the time of such grant unless such option has a readily ascertainable fair market value (as determined
under applicable tax law) at the time of grant. Upon exercise of a nonqualified stock option, the recipient generally will recognize
ordinary income in an amount equal to the excess of the fair market value of Common Stock on the date of exercise over the exercise
price. Upon a subsequent sale of Common Stock by the recipient, the recipient will recognize short-term or long-term capital gain
or loss depending upon his or her holding period for Common Stock. Subject to the limitations under Sections 162(m) and 280G of
the Code (as described below), the Company will generally be allowed an income tax deduction equal to the amount recognized by
the recipient as ordinary income.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>All
Options.</I> With regard to both incentive stock options and nonqualified stock options, the following also apply: (i) any of
the Company&rsquo;s officers and directors subject to Section 16(b) of the Exchange Act may be subject to special tax rules regarding
the income tax consequences concerning their stock options, (ii) any entitlement to a tax deduction on the part of the Company
is subject to the applicable tax rules (including, without limitation, Section 162(m) of the Code regarding the $1,000,000 limitation
on deductible compensation), and (iii) in the event that the exercisability or vesting of any award is accelerated because of
a change in control, payments relating to the awards (or a portion thereof), either alone or together with certain other payments,
may constitute parachute payments under Section 280G of the Code, which excess amounts may be subject to excise taxes and may
be nondeductible by the Company.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
general, Section 162(m) of the Code denies a publicly held corporation a deduction for federal income tax purposes for compensation
in excess of $1,000,000 per year per person to its chief executive officer and three other most highly compensated executive officers
as of the last day of the taxable year, other than its chief financial officer, as disclosed in its proxy statement. Options will
generally qualify under an exception if they are granted under a plan that states the maximum number of shares with respect to
which options may be granted to any recipient during a specified period, and if the plan under which the options are granted is
approved by stockholders and is administered by a committee comprised of outside directors. The Plan is intended to satisfy those
requirements with respect to options.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section
409A of the Code provides that all amounts deferred under a nonqualified deferred compensation plan are includible in a participant&rsquo;s
gross income to the extent such amounts are not subject to a substantial risk of forfeiture, unless certain requirements are satisfied.
If the requirements are not satisfied, in addition to current income inclusion, interest at the underpayment rate plus 1% will
be imposed on the participant&rsquo;s underpayments that would have occurred had the deferred compensation been includible in
gross income for the taxable year in which first deferred or, if later, the first taxable year in which such deferred compensation
is not subject to a substantial risk of forfeiture. The amount required to be included in income is also subject to an additional
20% tax. While most awards under the Plan are anticipated to be exempt from the requirements of Section 409A of the Code, awards
not exempt from Section 409A of the Code are intended to comply with Section 409A of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Plan is not subject to any of the requirements of the Employee Retirement Income Security Act of 1974, as amended. The Plan is
not, nor is it intended to be, a &ldquo;tax-qualified&rdquo; under Section 401(a) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Required
Vote</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Approval
of this resolution requires the affirmative vote of a majority of the shares of Common Stock present or represented by proxy and
entitled to vote at the Annual Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Recommendation
of the Board of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>THE
BOARD OF DIRECTORS RECOMMENDS THAT THE STOCKHOLDERS VOTE &ldquo;FOR&rdquo; THE RE-APPROVAL OF THE MATERIAL TERMS OF THE PERFORMANCE
GOALS UNDER THE STEVEN MADDEN, LTD. 2006 STOCK INCENTIVE PLAN PURSUANT TO SECTION 162(M) OF THE INTERNAL REVENUE CODE.</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Other
Matters</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board is not aware of any matters to be presented for action at the Annual Meeting other than as set forth in the Proxy Statement
as supplemented by this Supplement. However, if other matters properly come before the Annual Meeting, or any adjournment or postponement
thereof, the person or persons voting the proxies will vote them in accordance with their best judgment.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By
    Order of the Board of Directors</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Arvind Dharia</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Corporate Secretary</I></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dated: April 29,
    2016</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>







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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Annex
<B>A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;<B>Steven
Madden, Ltd. 2006 Stock Incentive Plan, Amended and Restated Effective May 22, 2009</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(Amended
by the Board on April 5, 2012 and </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Approved
and Adopted by the Stockholders on May 25, 2012)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>TABLE
OF CONTENTS</U></B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 94%; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena001_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE I</B> PURPOSE</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena002_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE II</B> DEFINITIONS</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena003_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE III</B> ADMINISTRATION</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena004_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE IV</B> SHARE LIMITATION</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">8</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena005_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE V</B> ELIGIBILITY &ndash; GENERAL REQUIREMENTS FOR AWARDS</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena006_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE VI</B> STOCK OPTIONS</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena007_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE VII</B> STOCK APPRECIATION RIGHTS</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">12</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena008_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE VIII</B> RESTRICTED STOCK</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">15</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena009_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE IX</B> PERFORMANCE SHARES</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">17</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena010_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE X</B> OTHER STOCK-BASED AWARDS</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">18</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena011_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE XI</B> PERFORMANCE-BASED CASH AWARDS</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">19</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena012_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE XII</B> TERMINATION</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena013_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE XIII</B> CHANGE IN CONTROL PROVISIONS</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena014_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE XIV</B> TERMINATION OR AMENDMENT OF PLAN</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena015_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE XV</B> UNFUNDED PLAN</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena016_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE XVI</B> GENERAL PROVISIONS</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena017_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE XVII</B> EFFECTIVE DATE OF PLAN</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">27</td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena018_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE XVIII</B> TERM OF PLAN</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">27</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena019_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ARTICLE XIX</B> NAME OF PLAN</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">27</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 6pt; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom"><A HREF="#smaddena020_v1"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>EXHIBIT A</B> PERFORMANCE GOALS</FONT></A></td>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">28</FONT></td></tr>
</table>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">STEVEN
MADDEN, LTD.</FONT></P>

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    <TD STYLE="vertical-align: bottom; width: 33%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 34%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 33%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006
STOCK INCENTIVE PLAN</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Amended
and Restated Effective May 22, 2009)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Amended
by the Board on April 5, 2012 and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Approved
and Adopted by the Stockholders on May 25, 2012)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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    <TD STYLE="vertical-align: bottom; width: 33%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 34%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 33%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena001_v1"></A>ARTICLE
I</B></FONT><BR>
<BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">PURPOSE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
purpose of this Plan is to enhance the profitability and value of the Company for the benefit of its stockholders by enabling
the Company to offer Eligible Employees, Consultants and Non-Employee Directors cash and stock based incentives in the Company
to attract, retain and reward such individuals and strengthen the mutuality of interests between such individuals and the Company&rsquo;s
stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
Plan, in the form set forth herein, is effective as of the Amendment Date (as defined in Article XVII) and amends the Steven Madden,
Ltd. 2006 Stock Incentive Plan, as amended and restated effective May 22, 2009.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena002_v1"></A>ARTICLE
II</B><BR>
<BR>
DEFINITIONS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
purposes of this Plan, the following terms shall have the following meanings:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Acquisition
Event</U>&rdquo;</B> means a merger or consolidation in which the Company is not the surviving entity, any transaction that results
in the acquisition of all or substantially all of the Company&rsquo;s outstanding Common Stock by a single person or entity or
by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company&rsquo;s
assets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Affiliate</U>&rdquo;
</B>means each of the following: (a)&nbsp;any Subsidiary; (b) any Parent; (c)&nbsp;any corporation, trade or business (including,
without limitation, a partnership or limited liability company) which is directly or indirectly controlled 50% or more (whether
by ownership of stock, assets or an equivalent ownership interest or voting interest) by the Company; (d) any corporation, trade
or business (including, without limitation, a partnership or limited liability company) which directly or indirectly controls
50% or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) of the Company; and
(e)&nbsp;any other entity in which the Company or any of its Affiliates has a material equity interest and which is designated
as an &ldquo;Affiliate&rdquo; by resolution of the Committee; provided that the Common Stock subject to any Award constitutes
&ldquo;service recipient stock&rdquo; for purposes of Section 409A of the Code or otherwise does not subject the Award to Section
409A of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Appreciation
Award</U>&rdquo;</B> means any Award under this Plan of any Stock Option, Stock Appreciation Right or Other Stock-Based Award,
provided that such Other Stock-Based Award is based on the appreciation in value of a share of Common Stock in excess of an amount
equal to at least the Fair Market Value of the Common Stock on the date such Other Stock-Based Award is granted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Award</U>&rdquo;
</B>means any award under this Plan of any Stock Option, Stock Appreciation Right, Restricted Stock, Performance Share, Other
Stock-Based Award or Performance-Based Cash Awards. All Awards shall be granted by, confirmed by, and subject to the terms of,
a written agreement executed by the Company and the Participant.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Board</U>&rdquo;
</B>means the Board of Directors of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Cause</U>&rdquo;
</B>means with respect to a Participant&rsquo;s Termination of Employment or Termination of Consultancy from and after the date
hereof, the following: (a) in the case where there is no employment agreement, consulting agreement, change in control agreement
or similar agreement in effect between the Company or an Affiliate and the Participant at the time of the grant of the Award (or
where there is such an agreement but it does not define &ldquo;cause&rdquo; (or words of like import)), termination due to: (i)
a Participant&rsquo;s conviction of, or plea of guilty or nolo contendere to, a felony; (ii) perpetration by a Participant of
an illegal act, or fraud which could cause significant economic injury to the Company; (iii) continuing willful and deliberate
failure by the Participant to perform the Participant&rsquo;s duties in any material respect, provided that the Participant is
given notice and an opportunity to effectuate a cure as determined by the Committee; or (iv) a Participant&rsquo;s willful misconduct
with regard to the Company that could have a material adverse effect on the Company; or (b) in the case where there is an employment
agreement, consulting agreement, change in control agreement or similar agreement in effect between the Company or an Affiliate
and the Participant at the time of the grant of the Award that defines &ldquo;cause&rdquo; (or words of like import), &ldquo;cause&rdquo;
as defined under such agreement; provided, however, that with regard to any agreement under which the definition of &ldquo;cause&rdquo;
only applies on occurrence of a change in control, such definition of &ldquo;cause&rdquo; shall not apply until a change in control
actually takes place and then only with regard to a termination thereafter. With respect to a Participant&rsquo;s Termination
of Directorship, &ldquo;cause&rdquo; means an act or failure to act that constitutes cause for removal of a director under applicable
Delaware law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Change
in Control</U>&rdquo;</B> has the meaning set forth in Section 13.2.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Change
in Control Price</U>&rdquo;</B> has the meaning set forth in Section 13.1.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Code</U>&rdquo;
</B>means the Internal Revenue Code of 1986, as amended. Any reference to any section of the Code shall also be a reference to
any successor provision and any Treasury Regulation promulgated thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Committee</U></B>&rdquo;
means a committee or subcommittee of the Board appointed from time to time by the Board, which committee or subcommittee shall
consist of two or more non-employee directors, each of whom shall be (i) a &ldquo;non-employee director&rdquo; as defined in Rule
16b-3; (ii) to the extent required by Section 162(m) of the Code, an &ldquo;outside director&rdquo; as defined under Section 162(m)
of the Code; and (iii) an &ldquo;independent director&rdquo; as defined under NASD Rule 4200(a)(15) or such other applicable stock
exchange rule. To the extent that no Committee exists that has the authority to administer this Plan, the functions of the Committee
shall be exercised by the Board. If for any reason the appointed Committee does not meet the requirements of Rule 16b-3 or Section
162(m) of the Code, such noncompliance shall not affect the validity of Awards, grants, interpretations or other actions of the
Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Common
Stock</U>&rdquo;</B> means the Common Stock, $0.0001 par value per share, of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Company</U>&rdquo;
</B>means Steven Madden, Ltd., a Delaware corporation, and its successors by operation of law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Consultant</U>&rdquo;
</B>means any natural person who provides bona fide consulting or advisory services to the Company or its Affiliates pursuant
to a written agreement, which are not in connection with the offer and sale of securities in a capital-raising transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Disability</U>&rdquo;
</B>means with respect to a Participant&rsquo;s Termination, a permanent and total disability as defined in Section 22(e)(3) of
the Code. A Disability shall only be deemed to occur at the time of the determination by the Committee of the Disability. Notwithstanding
the foregoing, for Awards that are subject to Section 409A of the Code, Disability shall mean that a Participant is disabled under
Section 409A(a)(2)(C)(i) or (ii) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Effective
Date</U>&rdquo;</B> means the effective date of this Plan as defined in Article XVII.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Eligible
Employees</U>&rdquo;</B> means each employee of the Company or an Affiliate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Exchange
Act</U>&rdquo; </B>means the Securities Exchange Act of 1934, as amended. Any references to any section of the Exchange Act shall
also be a reference to any successor provision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Fair
Market Value</U>&rdquo;</B> means, unless otherwise required by any applicable provision of the Code or any regulations issued
thereunder, as of any date and except as provided below, the closing price reported for the Common Stock on the applicable date:
(a) as reported on the principal national securities exchange in the United States on which it is then traded or The Nasdaq Stock
Market; or (b) if not traded on any such national securities exchange or The Nasdaq Stock Market, as quoted on an automated quotation
system sponsored by the National Association of Securities Dealers, Inc. or if the Common Stock shall not have been reported or
quoted on such date, on the first day prior thereto on which the Common Stock was reported or quoted. If the Common Stock is not
traded, listed or otherwise reported or quoted, then Fair Market Value means the fair market value of the Common Stock as determined
by the Committee in good faith in whatever manner it considers appropriate taking into account the requirements of Section 422
of the Code or Section 409A of the Code, as applicable. For purposes of the grant of any Award, the applicable date shall be the
trading day immediately prior to the date on which the Award is granted. For purposes of the exercise of any Award, the applicable
date shall be the date a notice of exercise is received by the Committee or, if not a day on which the applicable market is open,
the next day that it is open.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Family
Member</U>&rdquo;</B> means &ldquo;family member&rdquo; as defined in Section A.1.(5) of the general instructions of Form S-8,
as may be amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>GAAP</U>&rdquo;
</B>has the meaning set forth in Section 11.2(c)(ii).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Incentive
Stock Option</U>&rdquo;</B> means any Stock Option awarded to an Eligible Employee of the Company, its Subsidiaries and its Parent
(if any) under this Plan intended to be and designated as an &ldquo;Incentive Stock Option&rdquo; within the meaning of Section
422 of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Non-Employee
Director</U>&rdquo;</B> means a director of the Company who is not an active employee of the Company or an Affiliate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Non-Qualified
Stock Option</U>&rdquo;</B> means any Stock Option awarded under this Plan that is not an Incentive Stock Option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Other
Stock-Based Award</U>&rdquo;</B> means an Award under Article X of this Plan that is valued in whole or in part by reference to,
or is payable in or otherwise based on, Common Stock, including, without limitation, a restricted stock unit or an Award valued
by reference to an Affiliate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Parent</U>&rdquo;
</B>means any parent corporation of the Company within the meaning of Section 424(e) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Participant</U>&rdquo;
</B>means an Eligible Employee, Non-Employee Director or Consultant to whom an Award has been granted pursuant to this Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.27&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Performance-Based
Cash Award</U>&rdquo; </B>means a cash Award under Article XI of this Plan that is payable or otherwise based on the attainment
of certain pre-established performance goals during a Performance Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Performance
Period</U>&rdquo;</B> means the duration of the period during which receipt of an Award is subject to the satisfaction of performance
criteria, such period as determined by the Committee in its sole discretion.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Performance
Share</U>&rdquo;</B> means an Award made pursuant to Article IX of this Plan of the right to receive Common Stock or cash of an
equivalent value at the end of a specified Performance Period.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.30&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Person</U>&rdquo;
</B>means any individual, corporation, partnership, limited liability company, firm, joint venture, association, joint-stock company,
trust, incorporated organization, governmental or regulatory or other entity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.31&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Plan</U>&rdquo;
</B>means this Steven Madden, Ltd. 2006 Stock Incentive Plan, as amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.32&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Reference
Stock Option</U>&rdquo;</B> has the meaning set forth in Section 7.1.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.33&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Restricted
Stock</U>&rdquo;</B> means an Award of shares of Common Stock under this Plan that is subject to restrictions under Article VIII.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.34&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Restriction
Period</U>&rdquo;</B> has the meaning set forth in Subsection 8.3(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.35&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Retirement</U>&rdquo;
</B>means a voluntary Termination of Employment at or after age 65 or such earlier date after age 50 as may be approved by the
Committee, in its sole discretion at the time of grant or thereafter provided that the exercise of such discretion does not make
the applicable Award subject to Section 409A of the Code, except that Retirement shall not include any Termination with or without
Cause. With respect to a Participant&rsquo;s Termination of Directorship, Retirement means the failure to stand for reelection
or the failure to be reelected on or after a Participant has attained age 65 or, with the consent of the Board, provided that
the exercise of such discretion does not make the applicable Award subject to Section 409A of the Code, before age 65 but after
age 50.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.36&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Rule
16b-3</U>&rdquo;</B> means Rule 16b-3 under Section 16(b) of the Exchange Act as then in effect or any successor provision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.37&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Section
162(m) of the Code</U>&rdquo;</B> means the exception for performance-based compensation under Section 162(m) of the Code and
any applicable Treasury regulations thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.38&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Section
409A of the Code</U>&rdquo;</B> means the nonqualified deferred compensation rules under Section 409A of the Code and any applicable
Treasury regulations thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.39&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Securities
Act</U>&rdquo;</B> means the Securities Act of 1933, as amended and all rules and regulations promulgated thereunder. Any reference
to any section of the Securities Act shall also be a reference to any successor provision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.40&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Stock
Appreciation Right</U>&rdquo;</B> means the right pursuant to an Award granted under Article VII. A Tandem Stock Appreciation
Right shall mean the right to surrender to the Company all (or a portion) of a Stock Option in exchange for cash or a number of
shares of Common Stock (as determined by the Committee, in its sole discretion, on the date of grant) equal to the difference
between (a)&nbsp;the Fair Market Value on the date such Stock Option (or such portion thereof) is surrendered, of the Common Stock
covered by such Stock Option (or such portion thereof), and (b)&nbsp;the aggregate exercise price of such Stock Option (or such
portion thereof). A Non-Tandem Stock Appreciation Right shall mean the right to receive cash or a number of shares of Common Stock
(as determined by the Committee, in its sole discretion, on the date of grant) equal to the difference between (i)&nbsp;the Fair
Market Value of a share of Common Stock on the date such right is exercised, and (ii)&nbsp;the aggregate exercise price of such
right, otherwise than on surrender of a Stock Option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.41&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Stock
Option</U>&rdquo;</B> or <B>&ldquo;<U>Option</U>&rdquo;</B> means any option to purchase shares of Common Stock granted to Eligible
Employees, Non-Employee Directors or Consultants granted pursuant to Article VI.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.42&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Subsidiary</U>&rdquo;
</B>means any subsidiary corporation of the Company within the meaning of Section 424(f) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.43&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Ten
Percent Stockholder</U>&rdquo;</B> means a person owning stock possessing more than 10% of the total combined voting power of
all classes of stock of the Company, its Subsidiaries or its Parent.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.44&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Termination</U>&rdquo;
</B>means a Termination of Consultancy, Termination of Directorship or Termination of Employment, as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.45&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Termination
of Consultancy</U>&rdquo;</B> means: (a) that the Consultant is no longer acting as a consultant to the Company or an Affiliate;
or (b) when an entity which is retaining a Participant as a Consultant ceases to be an Affiliate unless the Participant otherwise
is, or thereupon becomes, a Consultant to the Company or another Affiliate at the time the entity ceases to be an Affiliate. In
the event that a Consultant becomes an Eligible Employee or a Non-Employee Director upon the termination of his or her consultancy,
unless otherwise determined by the Committee, in its sole discretion, no Termination of Consultancy shall be deemed to occur until
such time as such Consultant is no longer a Consultant, an Eligible Employee or a Non-Employee Director. Notwithstanding the foregoing,
the Committee may, in its sole discretion, otherwise define Termination of Consultancy in the Award agreement or, if no rights
of a Participant are reduced, may otherwise define Termination of Consultancy thereafter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.46&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Termination
of Directorship</U>&rdquo;</B> means that the Non-Employee Director has ceased to be a director of the Company; except that if
a Non-Employee Director becomes an Eligible Employee or a Consultant upon the termination of his or her directorship, his or her
ceasing to be a director of the Company shall not be treated as a Termination of Directorship unless and until the Participant
has a Termination of Employment or Termination of Consultancy, as the case may be.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.47&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Termination
of Employment</U>&rdquo;</B> means: (a)&nbsp;a termination of employment (for reasons other than a military or personal leave
of absence granted by the Company) of a Participant from the Company and its Affiliates; or (b)&nbsp;when an entity which is employing
a Participant ceases to be an Affiliate, unless the Participant otherwise is, or thereupon becomes, employed by the Company or
another Affiliate at the time the entity ceases to be an Affiliate. In the event that an Eligible Employee becomes a Consultant
or a Non-Employee Director upon the termination of his or her employment, unless otherwise determined by the Committee, in its
sole discretion, no Termination of Employment shall be deemed to occur until such time as such Eligible Employee is no longer
an Eligible Employee, a Consultant or a Non-Employee Director. Notwithstanding the foregoing, the Committee may, in its sole discretion,
otherwise define Termination of Employment in the Award agreement or, if no rights of a Participant are reduced, may otherwise
define Termination of Employment thereafter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.48&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Transfer</U>&rdquo;
</B>means: (a) when used as a noun, any direct or indirect transfer, sale, assignment, pledge, hypothecation, encumbrance or other
disposition (including the issuance of equity in a Person), whether for value or no value and whether voluntary or involuntary
(including by operation of law), and (b) when used as a verb, to directly or indirectly transfer, sell, assign, pledge, encumber,
charge, hypothecate or otherwise dispose of (including the issuance of equity in a Person) whether for value or for no value and
whether voluntarily or involuntarily (including by operation of law). &ldquo;Transferred&rdquo; and &ldquo;Transferrable&rdquo;
shall have a correlative meaning.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena003_v1"></A>ARTICLE
III</B><BR>
<BR>
ADMINISTRATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.1&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>The
Committee</U>. </B>This Plan shall be administered and interpreted by the Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.2&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grants
of Awards</U></B>. The Committee shall have full authority to grant, pursuant to the terms of this Plan, to Eligible Employees,
Consultants and Non-Employee Directors: (i)&nbsp;Stock Options, (ii)&nbsp;Stock Appreciation Rights, (iii)&nbsp;Restricted Stock,
(iv)&nbsp;Performance Shares; (v)&nbsp;Other Stock-Based Awards, and (vi) Performance-Based Cash Awards. In particular, the Committee
shall have the authority:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    select the Eligible Employees, Consultants and Non-Employee Directors to whom Awards may from time to time be granted hereunder;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    determine whether and to what extent Awards, or any combination thereof, are to be granted hereunder to one or more Eligible
    Employees, Consultants or Non-Employee Directors;</FONT></td></tr>
</TABLE>



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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; width: 11%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; width: 84%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    determine the number of shares of Common Stock to be covered by each Award granted hereunder;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    determine the terms and conditions, not inconsistent with the terms of this Plan, of any Award granted hereunder (including,
    but not limited to, the exercise or purchase price (if any), any restriction or limitation, any vesting schedule or acceleration
    thereof, or any forfeiture restrictions or waiver thereof, regarding any Award and the shares of Common Stock relating thereto,
    based on such factors, if any, as the Committee shall determine, in its sole discretion);</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(e)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    determine whether, to what extent and under what circumstances grants of Options and other Awards under this Plan are to operate
    on a tandem basis and/or in conjunction with or apart from other awards made by the Company outside of this Plan;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(f)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    determine whether and under what circumstances a Stock Option may be settled in cash, Common Stock and/or Restricted Stock
    under Section&nbsp;6.3(d);</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(g)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    determine whether, to what extent and under what circumstances Common Stock and other amounts payable with respect to an Award
    under this Plan shall be deferred either automatically or at the election of the Participant in any case, in a manner intended
    to comply with, Section 409A of the Code;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(h)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    determine whether a Stock Option is an Incentive Stock Option or Non-Qualified Stock Option;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(i)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
    determine whether to require a Participant, as a condition of the granting of any Award, to not sell or otherwise dispose
    of shares acquired pursuant to the exercise of an Award for a period of time as determined by the Committee, in its sole discretion,
    following the date of the acquisition of such Award; and</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(j)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
                                         set the performance criteria and the Performance Period with respect to any Award for
                                         which the grant, vesting or payment of such Award is conditioned upon the attainment
                                         of specified performance criteria and to certify the attainment of any such performance
                                         criteria; <U>provided</U>, that with regard to any Award that is intended to comply with
                                         Section 162(m) of the Code, the applicable performance criteria shall be based on one
                                         or more of the performance goals set forth in Exhibit A hereto (&ldquo;Performance Goals&rdquo;).</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.3&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Guidelines</U></B>.
Subject to Article XIV hereof, the Committee shall, in its sole discretion, have the authority to adopt, alter and repeal such
administrative rules, guidelines and practices governing this Plan and perform all acts, including the delegation of its responsibilities
(to the extent permitted by applicable law and applicable stock exchange rules), as it shall, from time to time, deem advisable;
to construe and interpret the terms and provisions of this Plan and any Award issued under this Plan (and any agreements relating
thereto); and to otherwise supervise the administration of this Plan. The Committee may, in its sole discretion, correct any defect,
supply any omission or reconcile any inconsistency in this Plan or in any agreement relating thereto in the manner and to the
extent it shall deem necessary to effectuate the purpose and intent of this Plan; <U>provided</U>, that with regard to any provision
of this Plan or any agreement relating thereto that is intended to comply with Section 162(m) of the Code, any such action by
the Committee shall be permitted only to the extent such action would be permitted under Section 162(m) of the Code. The Committee
may, in its sole discretion, adopt special guidelines and provisions for persons who are residing in or employed in, or subject
to, the taxes of, any domestic or foreign jurisdictions to comply with applicable tax and securities laws of such domestic or
foreign jurisdictions. This Plan is intended to comply with the applicable requirements of Rule 16b-3 and with respect to Awards
intended to be &ldquo;performance-based,&rdquo; the applicable provisions of Section 162(m) of the Code, and this Plan shall be
limited, construed and interpreted in a manner so as to comply therewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.4&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Decisions
Final</U></B>. Any decision, interpretation or other action made or taken in good faith by or at the direction of the Company,
the Board or the Committee (or any of its members) arising out of or in connection with this Plan shall be within the absolute
discretion of all and each of them, as the case may be, and shall be final, binding and conclusive on the Company and all employees
and Participants and their respective heirs, executors, administrators, successors and assigns.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.5&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Procedures</U></B><U>.
</U>If the Committee is appointed, the Board shall designate one of the members of the Committee as chairman and the Committee
shall hold meetings, subject to the By-Laws of the Company, at such times and places as it shall deem advisable, including, without
limitation, by telephone conference or by written consent to the extent permitted by applicable law. A majority of the Committee
members shall constitute a quorum. All determinations of the Committee shall be made by a majority of its members. Any decision
or determination reduced to writing and signed by all the Committee members in accordance with the By-Laws of the Company shall
be fully effective as if it had been made by a vote at a meeting duly called and held. The Committee shall keep minutes of its
meetings and shall make such rules and regulations for the conduct of its business as it shall deem advisable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.6&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Designation
of Consultants/Liability</U>.</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
    Committee may, in its sole discretion, designate employees of the Company and professional advisors to assist the Committee
    in the administration of this Plan and (to the extent permitted by applicable law and applicable exchange rules) may grant
    authority to officers to grant Awards and/or execute agreements or other documents on behalf of the Committee.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
    Committee may, in its sole discretion, employ such legal counsel, consultants and agents as it may deem desirable for the
    administration of this Plan and may rely upon any opinion received from any such counsel or consultant and any computation
    received from any such consultant or agent. Expenses incurred by the Committee or the Board in the engagement of any such
    counsel, consultant or agent shall be paid by the Company. The Committee, its members and any person designated pursuant to
    sub-section (a) above shall not be liable for any action or determination made in good faith with respect to this Plan. To
    the maximum extent permitted by applicable law, no officer of the Company or member or former member of the Committee or of
    the Board shall be liable for any action or determination made in good faith with respect to this Plan or any Award granted
    under it.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.7&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification.
</U></B>To the maximum extent permitted by applicable law and the Certificate of Incorporation and By-Laws of the Company and
to the extent not covered by insurance directly insuring such person, each officer or employee of the Company or any Affiliate
and member or former member of the Committee or the Board shall be indemnified and held harmless by the Company against any cost
or expense (including reasonable fees of counsel reasonably acceptable to the Committee) or liability (including any sum paid
in settlement of a claim with the approval of the Committee), and advanced amounts necessary to pay the foregoing at the earliest
time and to the fullest extent permitted, arising out of any act or omission to act in connection with the administration of this
Plan, except to the extent arising out of such officer&rsquo;s, employee&rsquo;s, member&rsquo;s or former member&rsquo;s fraud.
Such indemnification shall be in addition to any rights of indemnification the officers, employees, directors or members or former
officers, directors or members may have under applicable law or under the Certificate of Incorporation or By-Laws of the Company
or any Affiliate. Notwithstanding anything else herein, this indemnification will not apply to the actions or determinations made
by an individual with regard to Awards granted to him or her under this Plan.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena004_v1"></A>ARTICLE
IV</B><BR>
<BR>
SHARE LIMITATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>4.1&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Shares</U>.</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>General
    Limitations</U>. The aggregate number of shares of Common Stock that may be issued or used for reference purposes or with
    respect to which Awards may be granted under this Plan shall not exceed 15,644,000 shares (subject to any increase or decrease
    pursuant to Section 4.2), which may be either authorized and unissued Common Stock or Common Stock held in or acquired for
    the treasury of the Company or both. Any shares of Common Stock that are subject to Awards that are not Appreciation Awards
    shall be counted against this limit as 1.93 shares for every share granted. If any Appreciation Award granted under this Plan
    expires, terminates, is cancelled or is forfeited for any reason, the number of shares of Common Stock underlying any such
    Award shall again be available for the purpose of Awards under this Plan and added back to the aggregate maximum limit. If
    any Awards that are not Appreciation Awards granted under this Plan to a Participant expire, terminate, are cancelled or are
    forfeited for any reason, 1.93 shares of Common Stock shall again be available for the purposes of Awards under this Plan
    and added back to the aggregate maximum limit. If a Tandem Stock Appreciation Right or a Limited Stock Appreciation Right
    is granted in tandem with an Option, such grant shall only apply once against the maximum number of shares of Common Stock
    which may be issued under this Plan. The number of shares of Common Stock available for the purpose of Awards under this Plan
    shall be reduced by (i) the total number of Stock Options or Stock Appreciation Rights exercised, regardless of whether any
    of the shares of Common Stock underlying such Awards are not actually issued to the Participant as the result of a net settlement,
    (ii) any shares of Common Stock used to pay any exercise price or tax withholding obligation with respect to any Award and
    (iii) any shares of Common Stock repurchased by the Company on the open market with the proceeds of an Stock Option exercise
    price.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Individual
    Participant Limitations</U>.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The maximum number of shares of Common Stock subject to any Award of Stock Options, Stock Appreciation Rights or shares of
    Restricted Stock for which the grant of such Award or the lapse of the relevant Restriction Period is subject to the attainment
    of Performance Goals in accordance with Section 8.3(a)(ii) herein which may be granted under this Plan during any fiscal year
    of the Company to each Eligible Employee or Consultant shall be 1,800,000 shares per type of Award (which shall be subject
    to any further increase or decrease pursuant to Section 4.2), provided that the maximum number of shares of Common Stock for
    all types of Awards does not exceed 2,000,000 (which shall be subject to any further increase or decrease pursuant to Section
    4.2) with respect to any fiscal year of the Company. If a Tandem Stock Appreciation Right is granted or a Limited Stock Appreciation
    Right is granted in tandem with a Stock Option, it shall apply against the Eligible Employee&rsquo;s or Consultant&rsquo;s
    individual share limitations for both Stock Appreciation Rights and Stock Options.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The maximum number of shares of Common Stock subject to any Award of Stock Options (other than Incentive Stock Options), Stock
    Appreciation Rights, Performance Shares or Other Stock-Based Awards which may be granted under this Plan during any fiscal
    year of the Company to each Non-Employee Director shall be 337,500 shares per type of Award (which shall be subject to any
    further increase or decrease pursuant to Section 4.2), provided that the maximum number of shares of Common Stock for all
    types of Awards does not exceed 450,000 (which shall be subject to any further increase or decrease pursuant to Section 4.2)
    with respect to any fiscal year of the Company, provided further, that, effective on the date of the Company&rsquo;s 2009
    annual stockholders&rsquo; meeting, in no event shall the aggregate grant of Awards to Non-Employee Directors granted on and
    after such date exceed 10% (when combined with the 10% limitation set forth in Sections 8.3(a)(iii), 9.2(f), and 10.2(d) of
    this Plan) of the total number of shares of Common Stock reserved for Awards under this Plan. If a Tandem Stock Appreciation
    Right is granted or a Limited Stock Appreciation Right is granted in tandem with a Stock Option, it shall apply against the
    Non-Employee Director&rsquo;s individual share limitations for both Stock Appreciation Rights and Stock Options.</FONT></td></tr>
</TABLE>



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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">

<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 11%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; width: 84%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There are no annual individual Eligible Employee or Consultant share limitations on Restricted Stock for which the grant of
    such Award or the lapse of the relevant Restriction Period is not subject to attainment of Performance Goals in accordance
    with Section 8.3(a)(ii) hereof.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(iv)
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The maximum number of shares of Common Stock subject to any Award of Performance Shares which may be granted under this Plan
    during any fiscal year of the Company to each Eligible Employee or Consultant shall be 1,800,000 (which shall be subject to
    any further increase or decrease pursuant to Section 4.2) with respect to any fiscal year of the Company. Each Performance
    Share shall be referenced to one share of Common Stock and shall be charged against the available shares under this Plan at
    the time the unit value measurement is converted to a referenced number of shares of Common Stock in accordance with Section
    9.1.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The maximum payment under any Performance-Based Cash Award payable with respect to any fiscal year of the Company and for
    which the grant of such Award is subject to the attainment of Performance Goals in accordance with Section 11.2(c) herein
    which may be granted under this Plan with respect to any fiscal year of the Company to each Eligible Employee or Consultant
    shall be $10,000,000.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The individual Participant limitations set forth in this Section 4.1(b) shall be cumulative; that is, to the extent that shares
    of Common Stock for which Awards are permitted to be granted to an Eligible Employee or a Consultant during a fiscal year
    are not covered by an Award to such Eligible Employee or Consultant in a fiscal year, the number of shares of Common Stock
    available for Awards to such Eligible Employee or Consultant shall automatically increase in the subsequent fiscal years during
    the term of the Plan until used.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD COLSPAN="3" STYLE="padding-bottom: 12pt; text-align: justify; text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>4.2&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Changes</U>.</B></FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
    existence of this Plan and the Awards granted hereunder shall not affect in any way the right or power of the Board or the
    stockholders of the Company to make or authorize (i) any adjustment, recapitalization, reorganization or other change in the
    Company&rsquo;s capital structure or its business, (ii) any merger or consolidation of the Company or any Affiliate, (iii)
    any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock, (iv) the dissolution
    or liquidation of the Company or any Affiliate, (v) any sale or transfer of all or part of the assets or business of the Company
    or any Affiliate or (vi) any other corporate act or proceeding.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subject
    to the provisions of Section 4.2(d), if there shall occur any such change in the capital structure of the Company by reason
    of any stock split, reverse stock split, stock dividend, subdivision, combination or reclassification of shares that may be
    issued under the Plan, any recapitalization, any merger, any consolidation, any spin off, any reorganization or any partial
    or complete liquidation, or any other corporate transaction or event having an effect similar to any of the foregoing (a &ldquo;<U>Section
    4.2 Event</U>&rdquo;), then (i) the aggregate number and/or kind of shares that thereafter may be issued under the Plan, (ii)
    the number and/or kind of shares or other property (including cash) to be issued upon exercise of an outstanding Award or
    under other Awards granted under the Plan, (iii) the purchase price thereof, and/or (iv) the individual Participant limitations
    set forth in Section 4.1(b) (other than those based on cash limitations) shall be appropriately adjusted. In addition, subject
    to Section 4.2(d), if there shall occur any change in the capital structure or the business of the Company that is not a Section
    4.2 Event (an &ldquo;<U>Other Extraordinary Event</U>&rdquo;), including by reason of any extraordinary dividend (whether
    cash or stock), any conversion, any adjustment, any issuance of any class of securities convertible or exercisable into, or
    exercisable for, any class of stock, or any sale or transfer of all or substantially all the Company&rsquo;s assets or business,
    then the Committee, in its sole discretion, may adjust any Award and make such other adjustments to the Plan. Any adjustment
    pursuant to this Section 4.2 shall be consistent with the applicable Section 4.2 Event or the applicable Other Extraordinary
    Event, as the case may be, and in such manner as the Committee may, in its sole discretion, deem appropriate and equitable
    to prevent substantial dilution or enlargement of the rights granted to, or available for, Participants under the Plan. Any
    such adjustment determined by the Committee shall be final, binding and conclusive on the Company and all Participants and
    their respective heirs, executors, administrators, successors and permitted assigns. Except as expressly provided in this
    Section 4.2 or in the applicable Award agreement, a Participant shall have no rights by reason of any Section 4.2 Event or
    any Other Extraordinary Event.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
</TABLE>



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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 11%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; width: 84%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Fractional
    shares of Common Stock resulting from any adjustment in Awards pursuant to Section 4.2(a) or (b) shall be aggregated until,
    and eliminated at, the time of exercise by rounding-down for fractions less than one-half and rounding-up for fractions equal
    to or greater than one-half. No cash settlements shall be made with respect to fractional shares eliminated by rounding. Notice
    of any adjustment shall be given by the Committee to each Participant whose Award has been adjusted and such adjustment (whether
    or not such notice is given) shall be effective and binding for all purposes of this Plan.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
    the event of an Acquisition Event, the Committee may, in its sole discretion, terminate all outstanding and unexercised Stock
    Options or Stock Appreciation Rights or any Other Stock Based Award that provides for a Participant elected exercise effective
    as of the date of the Acquisition Event, by delivering notice of termination to each Participant at least 20 days prior to
    the date of consummation of the Acquisition Event, in which case during the period from the date on which such notice of termination
    is delivered to the consummation of the Acquisition Event, each such Participant shall have the right to exercise in full
    all of his or her Stock Options or Stock Appreciation Rights that are then outstanding (without regard to any limitations
    on exercisability otherwise contained in the Award agreements), but any such exercise shall be contingent on the occurrence
    of the Acquisition Event, and, provided that, if the Acquisition Event does not take place within a specified period after
    giving such notice for any reason whatsoever, the notice and exercise pursuant thereto shall be null and void.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD COLSPAN="2" STYLE="padding-bottom: 12pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
    an Acquisition Event occurs but the Committee does not terminate the outstanding Awards pursuant to this Section 4.2(d), then
    the provisions of Section 4.2(b) and Article XIII shall apply.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt; margin-left: 0pt; text-indent: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>4.3&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum
Purchase Price</U></B>. Notwithstanding any provision of this Plan to the contrary, if authorized but previously unissued shares
of Common Stock are issued under this Plan, such shares shall not be issued for a consideration that is less than as permitted
under applicable law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena005_v1"></A>ARTICLE
V</B><BR>
<BR>
ELIGIBILITY &ndash; GENERAL REQUIREMENTS FOR AWARDS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>5.1&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General
Eligibility</U></B>. All Eligible Employees, Consultants, Non-Employee Directors and prospective employees and consultants are
eligible to be granted Awards, subject to the terms and conditions of this Plan. Eligibility for the grant of Awards and actual
participation in this Plan shall be determined by the Committee in its sole discretion.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>5.2&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Incentive
Stock Options.</u></b> Notwithstanding anything herein to the contrary, only Eligible Employees of the Company, its Subsidiaries
and its Parent (if any) are eligible to be granted Incentive Stock Options under this Plan. Eligibility for the grant of an Incentive
Stock Option and actual participation in this Plan shall be determined by the Committee in its sole discretion.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>General
Requirement</U></B>. The vesting and exercise of Awards granted to a prospective employee or consultant are conditioned upon such
individual actually becoming an Eligible Employee or Consultant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena006_v1"></A>ARTICLE
VI</B><BR>
<BR>
STOCK OPTIONS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>6.1&nbsp;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Options</U></B>.
Stock Options may be granted alone or in addition to other Awards granted under this Plan. Each Stock Option granted under this
Plan shall be of one of two types: (a)&nbsp;an Incentive Stock Option or (b)&nbsp;a Non-Qualified Stock Option.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>6.2&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grants</U></B>.
The Committee shall, in its sole discretion, have the authority to grant to any Eligible Employee (subject to Section 5.2) Incentive
Stock Options, Non-Qualified Stock Options, or both types of Stock Options. The Committee shall, in its sole discretion, have
the authority to grant Non-Qualified Stock Options to any Consultant or Non-Employee Director. To the extent that any Stock Option
does not qualify as an Incentive Stock Option (whether because of its provisions or the time or manner of its exercise or otherwise),
such Stock Option or the portion thereof which does not qualify shall constitute a separate Non-Qualified Stock Option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Terms
of Options</U></B>. Options granted under this Plan shall be subject to the following terms and conditions and shall be in such
form and contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee, in its
sole discretion, shall deem desirable:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exercise
    Price</U>. The exercise price per share of Common Stock subject to a Stock Option shall be determined by the Committee at
    the time of grant, provided that the per share exercise price of a Stock Option shall not be less than 100% (or, in the case
    of an Incentive Stock Option granted to a Ten Percent Stockholder, 110%) of the Fair Market Value of the Common Stock at the
    time of grant.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Stock
    Option Term</U>. The term of each Stock Option shall be fixed by the Committee, provided that no Stock Option shall be exercisable
    more than seven (7) years after the date the Option is granted; and provided further that the term of an Incentive Stock Option
    granted to a Ten Percent Stockholder shall not exceed five (5) years.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exercisability</U>.
    Stock Options shall be exercisable at such time or times and subject to such terms and conditions or as shall be determined
    by the Committee at grant. If the Committee provides, in its discretion, that any Stock Option is exercisable subject to certain
    limitations (including, without limitation, that such Stock Option is exercisable only in installments or within certain time
    periods), the Committee may waive such limitations on the exercisability at any time at or after grant in whole or in part
    (including, without limitation, waiver of the installment exercise provisions or acceleration of the time at which such Stock
    Option may be exercised), based on such factors, if any, as the Committee shall determine, in its sole discretion. In the
    event that a written employment agreement between the Company and a Participant provides for a vesting schedule that is more
    favorable than the vesting schedule provided in the form of Award Agreement, the vesting schedule in such employment agreement
    shall govern, provided that such agreement is in effect on the date of grant and applicable to the specific Award.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Method
    of Exercise</U>. Subject to whatever installment exercise and waiting period provisions apply under subsection (c) above,
    to the extent vested, Stock Options may be exercised in whole or in part at any time during the Option term, by giving written
    notice of exercise to the Company specifying the number of shares of Common Stock to be purchased. Such notice shall be in
    a form acceptable to the Company and shall be accompanied by payment in full of the purchase price as follows: (i) in cash
    or by check, bank draft or money order payable to the order of the Company; (ii) solely to the extent permitted by applicable
    law, if the Common Stock is traded on a national securities exchange, the Nasdaq Stock Market or quoted on a national quotation
    system sponsored by the National Association of Securities Dealers, and the Committee authorizes, through a procedure whereby
    the Participant delivers irrevocable instructions to a broker reasonably acceptable to the Committee to deliver promptly to
    the Company an amount equal to the purchase price; or (iii) on such other terms and conditions as may be acceptable to the
    Committee (including, without limitation, the relinquishment of Stock Options or by payment in full or in part in the form
    of Common Stock owned by the Participant based on the Fair Market Value of the Common Stock on the payment date as determined
    by the Committee, in its sole discretion). No shares of Common Stock shall be issued until payment therefor, as provided herein,
    has been made or provided for.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
</TABLE>



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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 11%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(e)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; width: 84%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Non-Transferability
    of Options</U>. No Stock Option shall be Transferable by the Participant otherwise than by will or by the laws of descent
    and distribution, and all Stock Options shall be exercisable, during the Participant&rsquo;s lifetime, only by the Participant.
    Notwithstanding the foregoing, the Committee may determine, in its sole discretion, at the time of grant or thereafter that
    a Non-Qualified Stock Option that is otherwise not Transferable pursuant to this Section is Transferable to a Family Member
    in whole or in part and in such circumstances, and under such conditions, as determined by the Committee, in its sole discretion.
    A Non-Qualified Stock Option that is Transferred to a Family Member pursuant to the preceding sentence (i) may not be subsequently
    Transferred otherwise than by will or by the laws of descent and distribution and (ii) remains subject to the terms of this
    Plan and the applicable Award agreement. Any shares of Common Stock acquired upon the exercise of a Non-Qualified Stock Option
    by a permissible transferee of a Non-Qualified Stock Option or a permissible transferee pursuant to a Transfer after the exercise
    of the Non-Qualified Stock Option shall be subject to the terms of this Plan and the applicable Award agreement.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(f)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Incentive
    Stock Option Limitations</U>. To the extent that the aggregate Fair Market Value (determined as of the time of grant) of the
    Common Stock with respect to which Incentive Stock Options are exercisable for the first time by an Eligible Employee during
    any calendar year under this Plan and/or any other stock option plan of the Company, any Subsidiary or any Parent exceeds
    $100,000, such Options shall be treated as Non-Qualified Stock Options. Should any provision of this Plan not be necessary
    in order for the Stock Options to qualify as Incentive Stock Options, or should any additional provisions be required, the
    Committee may, in its sole discretion, amend this Plan accordingly, without the necessity of obtaining the approval of the
    stockholders of the Company.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(g)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Form,
    Modification, Extension and Renewal of Stock Options</U>. Subject to the terms and conditions and within the limitations of
    this Plan, Stock Options shall be evidenced by such form of agreement or grant as is approved by the Committee, and the Committee
    may, in its sole discretion (i) modify, extend or renew outstanding Stock Options granted under this Plan (provided that the
    rights of a Participant are not reduced without his or her consent and provided further that such action does not subject
    the Stock Options to Section 409A of the Code), and (ii) accept the surrender of outstanding Stock Options (up to the extent
    not theretofore exercised) and authorize the granting of new Stock Options in substitution therefor (to the extent not theretofore
    exercised). Notwithstanding the foregoing, an outstanding Option may not be modified to reduce the exercise price thereof
    nor may a new Option at a lower price be substituted for a surrendered Option (other than adjustments or substitutions in
    accordance with Section 4.2), unless such action is approved by the stockholders of the Company.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(h)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Early
    Exercise</U>. The Committee may provide that a Stock Option include a provision whereby the Participant may elect at any time
    before the Participant&rsquo;s Termination to exercise the Stock Option as to any part or all of the shares of Common Stock
    subject to the Stock Option prior to the full vesting of the Stock Option and such shares shall be subject to the provisions
    of Article VIII and treated as Restricted Stock. Any unvested shares of Common Stock so purchased may be subject to a repurchase
    option in favor of the Company or to any other restriction the Committee determines to be appropriate.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(i)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Other
    Terms and Conditions</U>. Stock Options may contain such other provisions, which shall not be inconsistent with any of the
    terms of this Plan, as the Committee shall, in its sole discretion, deem appropriate.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena007_v1"></A>ARTICLE
VII</B><BR>
<BR>
STOCK APPRECIATION RIGHTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Tandem
Stock Appreciation Rights</U></B>. Stock Appreciation Rights may be granted in conjunction with all or part of any Stock Option
(a &ldquo;Reference Stock Option&rdquo;) granted under this Plan (&ldquo;Tandem Stock Appreciation Rights&rdquo;). In the case
of a Non-Qualified Stock Option, such rights may be granted either at or after the time of the grant of such Reference Stock Option.
In the case of an Incentive Stock Option, such rights may be granted only at the time of the grant of such Reference Stock Option.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Terms
and Conditions of Tandem Stock Appreciation Rights</U></B>. Tandem Stock Appreciation Rights granted hereunder shall be subject
to such terms and conditions, not inconsistent with the provisions of this Plan, as shall be determined from time to time by the
Committee in its sole discretion, and the following:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exercise
    Price</U>. The exercise price per share of Common Stock subject to a Tandem Stock Appreciation Right shall be determined by
    the Committee at the time of grant, provided that the per share exercise price of a Tandem Stock Appreciation Right shall
    not be less than 100% of the Fair Market Value of the Common Stock at the time of grant.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Term</U>.
    A Tandem Stock Appreciation Right or applicable portion thereof granted with respect to a Reference Stock Option shall terminate
    and no longer be exercisable upon the termination or exercise of the Reference Stock Option, except that, unless otherwise
    determined by the Committee, in its sole discretion, at the time of grant, a Tandem Stock Appreciation Right granted with
    respect to less than the full number of shares covered by the Reference Stock Option shall not be reduced until and then only
    to the extent the exercise or termination of the Reference Stock Option causes the number of shares covered by the Tandem
    Stock Appreciation Right to exceed the number of shares remaining available and unexercised under the Reference Stock Option.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exercisability</U>.
    Tandem Stock Appreciation Rights shall be exercisable only at such time or times and to the extent that the Reference Stock
    Options to which they relate shall be exercisable in accordance with the provisions of Article VI, and shall be subject to
    the provisions of Section 6.3(c).</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Method
    of Exercise</U>. A Tandem Stock Appreciation Right may be exercised by the Participant by surrendering the applicable portion
    of the Reference Stock Option. Upon such exercise and surrender, the Participant shall be entitled to receive an amount determined
    in the manner prescribed in this Section 7.2. Stock Options which have been so surrendered, in whole or in part, shall no
    longer be exercisable to the extent the related Tandem Stock Appreciation Rights have been exercised.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(e)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Payment</U>.
    Upon the exercise of a Tandem Stock Appreciation Right, a Participant shall be entitled to receive up to, but no more than,
    an amount in cash or a number of shares of Common Stock (as determined by the Committee, in its sole discretion, on the date
    of grant) equal in value to the excess of the Fair Market Value of one share of Common Stock over the Option exercise price
    per share specified in the Reference Stock Option agreement, multiplied by the number of shares in respect of which the Tandem
    Stock Appreciation Right shall have been exercised.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(f)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Deemed
    Exercise of Reference Stock Option</U>. Upon the exercise of a Tandem Stock Appreciation Right, the Reference Stock Option
    or part thereof to which such Stock Appreciation Right is related shall be deemed to have been exercised for the purpose of
    the limitation set forth in Article IV of the Plan on the number of shares of Common Stock to be issued under the Plan.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(g)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Non-Transferability</U>.
                                         Tandem Stock Appreciation Rights shall be Transferable only when and to the extent that
                                         the underlying Stock Option would be Transferable under Section 6.3(e) of the Plan.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Non-Tandem
Stock Appreciation Rights</U></B>. Non-Tandem Stock Appreciation Rights may also be granted without reference to any Stock Options
granted under this Plan.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7.4&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Terms
and Conditions of Non-Tandem Stock Appreciation Rights</U></B>. Non-Tandem Stock Appreciation Rights granted hereunder shall be
subject to such terms and conditions, not inconsistent with the provisions of this Plan, as shall be determined from time to time
by the Committee in its sole discretion, and the following:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exercise
    Price</U>. The exercise price per share of Common Stock subject to a Non-Tandem Stock Appreciation Right shall be determined
    by the Committee at the time of grant, provided that the per share exercise price of a Non-Tandem Stock Appreciation Right
    shall not be less than 100% of the Fair Market Value of the Common Stock at the time of grant.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Term</U>.
    The term of each Non-Tandem Stock Appreciation Right shall be fixed by the Committee, but shall not be greater than 7 years
    after the date the right is granted.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exercisability</U>.
    Non-Tandem Stock Appreciation Rights shall be exercisable at such time or times and subject to such terms and conditions as
    shall be determined by the Committee at grant. If the Committee provides, in its discretion, that any such right is exercisable
    subject to certain limitations (including, without limitation, that it is exercisable only in installments or within certain
    time periods), the Committee may waive such limitations on the exercisability at any time at or after grant in whole or in
    part (including, without limitation, waiver of the installment exercise provisions or acceleration of the time at which such
    right may be exercised), based on such factors, if any, as the Committee shall determine, in its sole discretion. In the event
    that a written employment agreement between the Company and a Participant provides for a vesting schedule that is more favorable
    than the vesting schedule provided in the form of Award Agreement, the vesting schedule in such employment agreement shall
    govern, provided that such agreement is in effect on the date of grant and applicable to the specific Award.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Method
    of Exercise</U>. Subject to whatever installment exercise and waiting period provisions apply under subsection (c) above,
    Non-Tandem Stock Appreciation Rights may be exercised in whole or in part at any time in accordance with the applicable Award
    agreement, by giving written notice of exercise to the Company specifying the number of Non-Tandem Stock Appreciation Rights
    to be exercised.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(e)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Payment</U>.
    Upon the exercise of a Non-Tandem Stock Appreciation Right a Participant shall be entitled to receive, for each right exercised,
    up to, but no more than, an amount in cash or a number of shares of Common Stock (as determined by the Committee, in its sole
    discretion, on the date of grant) equal in value to the excess of the Fair Market Value of one share of Common Stock on the
    date the right is exercised over the Fair Market Value of one share of Common Stock on the date the right was awarded to the
    Participant.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(f)</FONT></td>
    <TD STYLE="padding-bottom: 12pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Non-Transferability</U>.
    No Non-Tandem Stock Appreciation Rights shall be Transferable by the Participant otherwise than by will or by the laws of
    descent and distribution, and all such rights shall be exercisable, during the Participant&rsquo;s lifetime, only by the Participant.</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 10pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Limited
Stock Appreciation Rights</U></B>. The Committee may, in its sole discretion, grant Tandem and Non-Tandem Stock Appreciation Rights
either as a general Stock Appreciation Right or as a Limited Stock Appreciation Right. Limited Stock Appreciation Rights may be
exercised only upon the occurrence of a Change in Control or such other event as the Committee may, in its sole discretion, designate
at the time of grant or thereafter. Upon the exercise of Limited Stock Appreciation Rights, except as otherwise provided in an
Award agreement, the Participant shall receive in cash or Common Stock, as determined by the Committee, an amount equal to the
amount (a)&nbsp;set forth in Section 7.2(e) with respect to Tandem Stock Appreciation Rights, or (b)&nbsp;set forth in Section
7.4(e) with respect to Non-Tandem Stock Appreciation Rights, as applicable.</FONT></P><!-- Field: Page; Sequence: 29; Value: 2 -->
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena008_v1"></A>ARTICLE
VIII</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">RESTRICTED
STOCK</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Awards
of Restricted Stock</U></B>. Shares of Restricted Stock may be issued either alone or in addition to other Awards granted under
the Plan. The Committee shall, in its sole discretion, determine the Eligible Employees, Consultants and Non-Employee Directors,
to whom, and the time or times at which, grants of Restricted Stock shall be made, the number of shares to be awarded, the price
(if any) to be paid by the Participant (subject to Section 8.2), the time or times within which such Awards may be subject to
forfeiture, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of the Awards. The Committee
may condition the grant or vesting of Restricted Stock upon the attainment of specified performance targets (including, the Performance
Goals specified in Exhibit A attached hereto) or such other factors as the Committee may determine, in its sole discretion, including
to comply with the requirements of Section 162(m) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Awards
and Certificates</U></B>. Eligible Employees, Consultants and Non-Employee Directors selected to receive Restricted Stock shall
not have any rights with respect to such Award, unless and until such Participant has delivered a fully executed copy of the agreement
evidencing the Award to the Company and has otherwise complied with the applicable terms and conditions of such Award. Further,
such Award shall be subject to the following conditions:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Purchase
    Price</U>. The purchase price of Restricted Stock shall be fixed by the Committee. Subject to Section 4.3, the purchase price
    for shares of Restricted Stock may be zero to the extent permitted by applicable law, and, to the extent not so permitted,
    such purchase price may not be less than par value.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Acceptance</U>.
    Awards of Restricted Stock must be accepted within a period of 60 days (or such other period as the Committee may specify)
    after the grant date, by executing a Restricted Stock agreement and by paying whatever price (if any) the Committee has designated
    thereunder.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Legend</U>.
    Each Participant receiving Restricted Stock shall be issued a stock certificate in respect of such shares of Restricted Stock,
    unless the Committee elects to use another system, such as book entries by the transfer agent, as evidencing ownership of
    shares of Restricted Stock. Such certificate shall be registered in the name of such Participant, and shall, in addition to
    such legends required by applicable securities laws, bear an appropriate legend referring to the terms, conditions, and restrictions
    applicable to such Award, substantially in the following form:</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&ldquo;The
    anticipation, alienation, attachment, sale, transfer, assignment, pledge, encumbrance or charge of the shares of stock represented
    hereby are subject to the terms and conditions (including forfeiture) of the Steven Madden, Ltd. (the &ldquo;Company&rdquo;)
    2009 Stock Incentive Plan (the &ldquo;Plan&rdquo;) and an agreement entered into between the registered owner and the Company
    dated __________. Copies of such Plan and agreement are on file at the principal office of the Company.&rdquo;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Custody</U>.
                                         If stock certificates are issued in respect of shares of Restricted Stock, the Committee
                                         may require that any stock certificates evidencing such shares be held in custody by
                                         the Company until the restrictions thereon shall have lapsed, and that, as a condition
                                         of any grant of Restricted Stock, the Participant shall have delivered a duly signed
                                         stock power, endorsed in blank, relating to the Common Stock covered by such Award.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Restrictions
and Conditions</U></B>. The shares of Restricted Stock awarded pursuant to this Plan shall be subject to the following restrictions
and conditions:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Restriction
    Period</U>. (i) The Participant shall not be permitted to Transfer shares of Restricted Stock awarded under this Plan during
    the period or periods set by the Committee (the &ldquo;Restriction Period&rdquo;) commencing on the date of such Award, as
    set forth in a Restricted Stock Award agreement and such agreement shall set forth a vesting schedule and any events which
    would accelerate vesting of the shares of Restricted Stock. Within these limits, based on service, attainment of Performance
    Goals pursuant to Section 8.3(a)(ii) below and/or such other factors or criteria as the Committee may determine in its sole
    discretion, the Committee may condition the grant or provide for the lapse of such restrictions in installments in whole or
    in part, or may accelerate the vesting of all or any part of any Restricted Stock Award and/or waive the deferral limitations
    for all or any part of any Restricted Stock Award. Subject to Section 8.3(a)(iii) of this Plan, in the event that a written
    employment agreement between the Company and a Participant provides for a vesting schedule that is more favorable than the
    vesting schedule provided in the form of Award Agreement, the vesting schedule in such employment agreement shall govern,
    provided that such agreement is in effect on the date of grant and applicable to the specific Award.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(ii)
    <I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Objective Performance Goals, Formulae or Standards</I>. If the grant of shares of Restricted Stock or the lapse of restrictions
    is based on the attainment of Performance Goals, the Committee shall establish the Performance Goals and the applicable vesting
    percentage of the Restricted Stock Award applicable to each Participant or class of Participants in writing prior to the beginning
    of the applicable Performance Period or at such later date as otherwise determined by the Committee and while the outcome
    of the Performance Goals are substantially uncertain. Such Performance Goals may incorporate provisions for disregarding (or
    adjusting for) changes in accounting methods, corporate transactions (including, without limitation, dispositions and acquisitions)
    and other similar type events or circumstances. With regard to a Restricted Stock Award that is intended to comply with Section
    162(m) of the Code, to the extent any such provision would create impermissible discretion under Section 162(m) of the Code
    or otherwise violate Section 162(m) of the Code, such provision shall be of no force or effect. The applicable Performance
    Goals shall be based on one or more of the performance criteria set forth in Exhibit A hereto.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Limitations</I>. Notwithstanding any other provision of this Plan to the contrary, effective on the date of the Company&rsquo;s
2009 annual stockholders&rsquo; meeting, the Restriction Period with respect to any Restricted Stock Award granted on or after
such date shall be no less than (A) one year, if the lapsing of restrictions is based (in whole or in part) on the attainment
of one or more Performance Goals, and (B) three years, if the lapsing of restrictions is based solely on the continued performance
of services by the Participant (with restrictions as to no more than 1/3<SUP>rd</SUP> of the shares of Common Stock subject thereto
lapsing on each of the first three anniversaries of the date of grant); <U>provided</U>, that, subject to the terms of this Plan,
the Committee shall be authorized (at the time of grant or thereafter) to provide for the earlier lapsing of restrictions in the
event of a Change in Control or a Participant&rsquo;s retirement, death or Disability; and <U>provided further</U>, that, subject
to the limitations set forth in Section 4.1(b), Restricted Stock Awards may be granted on or after the date of the Company&rsquo;s
2009 annual stockholders&rsquo; meeting without the foregoing limitations with respect to up to 10% (when combined with the 10%
limitation set forth in Sections 4.1(b)(ii), 9.2(f) and 10.2(d) of this Plan) of the total number of shares of Common Stock reserved
for Awards under this Plan.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Rights
    as a Stockholder</U>. Except as provided in this subsection (b) and subsection (a) above and as otherwise determined by the
    Committee, the Participant shall have, with respect to the shares of Restricted Stock, all of the rights of a holder of shares
    of Common Stock of the Company including, without limitation, the right to receive any dividends, the right to vote such shares
    and, subject to and conditioned upon the full vesting of shares of Restricted Stock, the right to tender such shares. The
    Committee may, in its sole discretion, determine at the time of grant that the payment of dividends shall be deferred until,
    and conditioned upon, the expiration of the applicable Restriction Period.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Lapse
    of Restrictions</U>. If and when the Restriction Period expires without a prior forfeiture of the Restricted Stock, the certificates
    for such shares shall be delivered to the Participant. All legends shall be removed from said certificates at the time of
    delivery to the Participant, except as otherwise required by applicable law or other limitations imposed by the Committee.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena009_v1"></A>ARTICLE
IX</B><BR>
<BR>
PERFORMANCE SHARES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Award
of Performance Shares</U></B>. Performance Shares may be awarded either alone or in addition to other Awards granted under this
Plan. The Committee shall, in its sole discretion, determine the Eligible Employees, Consultants and Non-Employee Directors, to
whom, and the time or times at which, Performance Shares shall be awarded, the number of Performance Shares to be awarded to any
person, the Performance Period during which, and the conditions under which, receipt of the Shares will be deferred, and the other
terms and conditions of the Award in addition to those set forth in Section 9.2.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Except
as otherwise provided herein, the Committee shall condition the right to payment of any Performance Share upon the attainment
of specified objective performance goals (including, the Performance Goals specified in Exhibit A attached hereto) established
pursuant to Section&nbsp;9.2(c) below and such other factors as the Committee may determine, in its sole discretion, including
to comply with the requirements of Section 162(m) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>9.2&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Terms
and Conditions</U></B>. Performance Shares awarded pursuant to this Article IX shall be subject to the following terms and conditions:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Earning
    of Performance Share Award</U>. At the expiration of the applicable Performance Period, the Committee shall determine the
    extent to which the Performance Goals established pursuant to Section 9.2(c) are achieved and the percentage of each Performance
    Share Award that has been earned.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Non-Transferability</U>.
    Subject to the applicable provisions of the Award agreement and this Plan, Performance Shares may not be Transferred during
    the Performance Period.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Objective
    Performance Goals, Formulae or Standards</U>. The Committee shall establish the objective Performance Goals for the earning
    of Performance Shares based on a Performance Period applicable to each Participant or class of Participants in writing prior
    to the beginning of the applicable Performance Period or at such later date as permitted under Section 162(m) of the Code
    and while the outcome of the Performance Goals are substantially uncertain. Such Performance Goals may incorporate, if and
    only to the extent permitted under Section 162(m) of the Code, provisions for disregarding (or adjusting for) changes in accounting
    methods, corporate transactions (including, without limitation, dispositions and acquisitions) and other similar type events
    or circumstances. To the extent any such provision would create impermissible discretion under Section 162(m) of the Code
    or otherwise violate Section 162(m) of the Code, such provision shall be of no force or effect. The applicable Performance
    Goals shall be based on one or more of the performance criteria set forth in Exhibit A hereto.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Dividends</U>.
    Unless otherwise determined by the Committee at the time of grant, amounts equal to any dividends declared during the Performance
    Period with respect to the number of shares of Common Stock covered by a Performance Share will not be paid to the Participant.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(e)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Payment</U>.
    Following the Committee&rsquo;s determination in accordance with subsection (a) above, shares of Common Stock or, as determined
    by the Committee in its sole discretion, the cash equivalent of such shares shall be delivered to the Eligible Employee, Consultant
    or Non-Employee Director, or his legal representative, in an amount equal to such individual&rsquo;s earned Performance Share.
    Notwithstanding the foregoing, the Committee may, in its sole discretion, award an amount less than the earned Performance
    Share and/or subject the payment of all or part of any Performance Share to additional vesting, forfeiture and deferral conditions
    as it deems appropriate.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD></TR></TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 11%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 84%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(f)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Accelerated
    Vesting</U>. Based on service, performance and/or such other factors or criteria, if any, as the Committee may determine,
    the Committee may, in its sole discretion, at or after grant, accelerate the vesting of all or any part of any Performance
    Share Award and/or waive the preceding sentence and any other provision of this Plan to the contrary. Notwithstanding the
    preceding sentence or any other provision of this Plan, effective on the date of the Company&rsquo;s 2009 annual stockholders&rsquo;
    meeting, the vesting schedule with respect to any Performance Share Award on or after such date shall be no less than (A)
    one year, if the vesting period is based (in whole or in part) on the attainment of one or more Performance Goals, and (B)
    three years, if the vesting period is based solely on the continued performance of services by the Participant (with restrictions
    as to no more than 1/3<SUP>rd</SUP> of the shares of Common Stock subject thereto lapsing on each of the first three anniversaries
    of the date of grant); <U>provided</U>, that, subject to the terms of this Plan, the Committee shall be authorized (at the
    time of grant or thereafter) to provide for the acceleration of vesting in the event of a Change in Control or a Participant&rsquo;s
    retirement, death or Disability; and <U>provided</U> <U>further</U>, that, subject to the limitations set forth in Section
    4.1(b), Performance Share Awards may be granted on or after the date of the Company&rsquo;s 2009 annual stockholders&rsquo;
    meeting without the foregoing limitations with respect to up to 10% (when combined with the 10% limitation set forth in Sections
    4.1(b)(ii), 8.3(a)(iii) and 10.2(d) of this Plan) of the total number of shares of Common Stock reserved for Awards under
    this Plan.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena010_v1"></A>ARTICLE
X</B><BR>
<BR>
OTHER STOCK-BASED AWARDS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>10.1&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Awards.</B> The Committee, in its sole discretion, is authorized to grant to Eligible Employees, Consultants and Non-Employee
Directors Other Stock-Based Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related
to shares of Common Stock, including, but not limited to, shares of Common Stock awarded purely as a bonus and not subject to
any restrictions or conditions, shares of Common Stock in payment of the amounts due under an incentive or performance plan sponsored
or maintained by the Company or an Affiliate, performance units, dividend equivalent units, stock equivalent units, restricted
stock units and deferred stock units. To the extent permitted by law, the Committee may, in its sole discretion, permit Eligible
Employees and/or Non-Employee Directors to defer all or a portion of their cash compensation in the form of Other Stock-Based
Awards granted under this Plan, subject to the terms and conditions of any deferred compensation arrangement established by the
Company, which shall be intended to comply with Section 409A of the Code. Other Stock-Based Awards may be granted either alone
or in addition to or in tandem with other Awards granted under the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subject
to the provisions of this Plan, the Committee shall, in its sole discretion, have authority to determine the Eligible Employees,
Consultants and Non-Employee Directors, to whom, and the time or times at which, such Awards shall be made, the number of shares
of Common Stock to be awarded pursuant to such Awards, and all other conditions of the Awards. The Committee may also provide
for the grant of Common Stock under such Awards upon the completion of a specified Performance Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Committee may condition the grant or vesting of Other Stock-Based Awards upon the attainment of specified Performance Goals set
forth on Exhibit A as the Committee may determine, in its sole discretion; provided that to the extent that such Other Stock-Based
Awards are intended to comply with Section 162(m) of the Code, the Committee shall establish the objective Performance Goals for
the vesting of such Other Stock-Based Awards based on a performance period applicable to each Participant or class of Participants
in writing prior to the beginning of the applicable performance period or at such later date as permitted under Section 162(m)
of the Code and while the outcome of the Performance Goals are substantially uncertain. Such Performance Goals may incorporate,
if and only to the extent permitted under Section 162(m) of the Code, provisions for disregarding (or adjusting for) changes in
accounting methods, corporate transactions (including, without limitation, dispositions and acquisitions) and other similar type
events or circumstances. To the extent any such provision would create impermissible discretion under Section 162(m) of the Code
or otherwise violate Section 162(m) of the Code, such provision shall be of no force or effect. The applicable Performance Goals
shall be based on one or more of the performance criteria set forth in Exhibit A hereto.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Terms
and Conditions</U></B>. Other Stock-Based Awards made pursuant to this Article X shall be subject to the following terms and conditions:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Non-Transferability</U>.
    Subject to the applicable provisions of the Award agreement and this Plan, shares of Common Stock subject to Awards made under
    this Article X may not be Transferred prior to the date on which the shares are issued, or, if later, the date on which any
    applicable restriction, performance or deferral period lapses.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Dividends</U>.
    Unless otherwise determined by the Committee at the time of Award, subject to the provisions of the Award agreement and this
    Plan, the recipient of an Award under this Article X shall not be entitled to receive, currently or on a deferred basis, dividends
    or dividend equivalents with respect to the number of shares of Common Stock covered by the Award.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Vesting</U>.
    Any Award under this Article X and any Common Stock covered by any such Award shall vest or be forfeited to the extent so
    provided in the Award agreement, as determined by the Committee, in its sole discretion, in accordance with the terms of this
    Plan. Subject to Section 10.2(d) of this Plan, in the event that a written employment agreement between the Company and a
    Participant provides for a vesting schedule that is more favorable than the vesting schedule provided in the form of Award
    Agreement, the vesting schedule in such employment agreement shall govern, provided that such agreement is in effect on the
    date of grant and applicable to the specific Award.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Limitation</U>.
    Notwithstanding Section 10.2(c) of this Plan and any other provision of this Plan to the contrary, effective on the date of
    the Company&rsquo;s 2009 annual stockholders&rsquo; meeting, the vesting schedule with respect to any Other Stock-Based Award
    on or after such date shall be no less than (A) one year, if the vesting period is based (in whole or in part) on the attainment
    of one or more Performance Goals, and (B) three years, if the vesting period is based solely on the continued performance
    of services by the Participant (with restrictions as to no more than 1/3<SUP>rd</SUP> of the shares of Common Stock subject
    thereto lapsing on each of the first three anniversaries of the date of grant); <U>provided</U>, that, subject to the terms
    of this Plan, the Committee shall be authorized (at the time of grant or thereafter) to provide for the acceleration of vesting
    in the event of a Change in Control or a Participant&rsquo;s retirement, death or Disability; and <U>provided</U> <U>further</U>,
    that, subject to the limitations set forth in Section 4.1(b), Other Stock-Based Awards may be granted on or after the date
    of the Company&rsquo;s 2009 annual stockholders&rsquo; meeting without the foregoing limitations with respect to up to 10%
    (when combined with the 10% limitation set forth in Sections 4.1(b)(ii), 8.3(a)(iii) and 9.2(f) of this Plan) of the total
    number of shares of Common Stock reserved for Awards under this Plan.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(e)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Price</U>.
    Common Stock issued on a bonus basis under this Article X may be issued for no cash consideration; Common Stock purchased
    pursuant to a purchase right awarded under this Article X shall be priced, as determined by the Committee in its sole discretion.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(f)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Payment</U>.
    Form of payment for the Other Stock-Based Award shall be specified in the Award agreement.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena011_v1"></A>ARTICLE
XI</B><BR>
<BR>
PERFORMANCE-BASED CASH AWARDS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>11.1&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance-Based
Cash Awards</U></B>. Performance-Based Cash Awards may be granted either alone or in addition to or in tandem with Stock Options,
Stock Appreciation Rights, or Restricted Stock. Subject to the provisions of this Plan, the Committee shall, in its sole discretion,
have authority to determine the Eligible Employees, Consultants and Non-Employee Directors to whom, and the time or times at which,
such Awards shall be made, the dollar amount to be awarded pursuant to such Awards, and all other conditions of the Awards. The
Committee may also provide for the payment of dollar amount under such Awards upon the completion of a specified Performance Period.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
each Participant, the Committee may specify a targeted performance award. The individual target award may be expressed, at the
Committee&rsquo;s discretion, as a fixed dollar amount, a percentage of base pay or total pay (excluding payments made under the
Plan), or an amount determined pursuant to an objective formula or standard. Establishment of an individual target award for a
Participant for a calendar year shall not imply or require that the same level individual target award (if any such award is established
by the Committee for the relevant Participant) be set for any subsequent calendar year. At the time the Performance Goals are
established, the Committee shall prescribe a formula to determine the percentages (which may be greater than 100%) of the individual
target award which may be payable based upon the degree of attainment of the Performance Goals during the calendar year. Notwithstanding
anything else herein, the Committee may, in its sole discretion, elect to pay a Participant an amount that is less than the Participant&rsquo;s
individual target award (or attained percentage thereof) regardless of the degree of attainment of the Performance Goals; provided
that no such discretion to reduce an Award earned based on achievement of the applicable Performance Goals shall be permitted
for the calendar year in which a Change in Control of the Company occurs, or during such calendar year with regard to the prior
calendar year if the Awards for the prior calendar year have not been made by the time of the Change in Control of the Company,
with regard to individuals who were Participants at the time of the Change in Control of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>11.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Terms
and Conditions</U></B>. Performance-Based Awards made pursuant to this Article XI shall be subject to the following terms and
conditions:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Vesting
    of Performance-Based Cash Award</U>. At the expiration of the applicable Performance Period, the Committee shall determine
    and certify in writing the extent to which the Performance Goals established pursuant to Section 11.2(c) are achieved and
    the percentage of the Participant&rsquo;s individual target award has been vested and earned.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Waiver
    of Limitation</U>. In the event of the Participant&rsquo;s Retirement (other than with respect to Performance-Based Cash Awards
    that are intended to comply with Section 162(m) of the Code), Disability or death, or in cases of special circumstances (to
    the extent permitted under Section 162(m) of the Code with regard to a Performance-Based Cash Award that is intended to comply
    with Section 162(m) of the Code), the Committee may, in its sole discretion, waive in whole or in part any or all of the limitations
    imposed hereunder (if any) with respect to any or all of an Award under this Article XI.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Objective Performance
    Goals, Formulae or Standards</U>.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee shall establish the objective Performance Goals and the individual target award (if any) applicable to each
    Participant or class of Participants in writing prior to the beginning of the applicable Performance Period or at such later
    date as permitted under Section 162(m) of the Code and while the outcome of the Performance Goals are substantially uncertain.
    Such Performance Goals may incorporate, if and only to the extent permitted under Section 162(m) of the Code, provisions for
    disregarding (or adjusting for) changes in accounting methods, corporate transactions (including, without limitation, dispositions
    and acquisitions) and other similar type events or circumstances. To the extent any Performance-Based Award is intended to
    comply with the provisions of Section 162(m) of the Code, if any provision would create impermissible discretion under Section
    162(m) of the Code or otherwise violate Section 162(m) of the Code, such provision shall be of no force or effect. The applicable
    Performance Goals shall be based on one or more of the performance criteria set forth in Exhibit A hereto.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The measurements used in Performance Goals set under the Plan shall be determined in accordance with Generally Accepted Accounting
    Principles (&ldquo;GAAP&rdquo;), except, to the extent that any objective Performance Goals are used, if any measurements
    require deviation from GAAP, such deviation shall be at the discretion of the Committee at the time the Performance Goals
    are set or at such later time to the extent permitted under Section 162(m) of the Code.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD></TR></TABLE>

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<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 11%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; width: 84%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD ROWSPAN="3" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Payment</U>.
    Following the Committee&rsquo;s determination and certification in accordance with subsection (a) above, the Performance-Based
    Cash Award amount shall be delivered to the Eligible Employee, Consultant or Non-Employee Director, or his legal representative,
    in accordance with the terms and conditions of the Award agreement. If the Award Agreement does not provide when such amount
    will be paid, except as provided in the next sentence, such amount shall be paid by no later than the later of: (i) March
    15 of the year following the year in which the applicable Performance Period ends; or (ii) two and one-half (2&frac12;) months
    after the expiration of the fiscal year of the Company in which the applicable Performance Period ends. Notwithstanding the
    foregoing, the Committee may place such conditions on the payment of the payment of all or any portion of any Performance-Based
    Cash Award as the Committee may determine and prior to the beginning of a Performance Period the Committee may (x) provide
    that the payment of all or any portion of any Performance-Based Cash Award shall be deferred and (y) permit a Participant
    to elect to defer receipt of all or a portion of any Performance-Based Cash Award. Any Performance-Based Cash Award deferred
    by a Participant in accordance with the terms and conditions established by the Committee shall not increase (between the
    date on which the Performance-Based Cash Award is credited to any deferred compensation program applicable to such Participant
    and the payment date) by an amount that would result in such deferral being deemed as an &ldquo;increase in the amount of
    compensation&rdquo; under Code Section 162(m). To the extent applicable, any deferral under this Section 11.2(d) shall be
    made in a manner intended to comply with the applicable requirements of Section 409A of the Code.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena012_v1"></A>ARTICLE
XII</B><BR>
<BR>
TERMINATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>12.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Termination</U>.
</B>The following rules apply with regard to the Termination of a Participant.</FONT></P>

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<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Rules
    Applicable to Stock Option and Stock Appreciation Rights.</I> Unless otherwise determined by the Committee at grant (or, if
    no rights of the Participant are reduced, thereafter):</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD ROWSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(i)
    <I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Termination by Reason of Death, Disability or Retirement.</I> If a Participant&rsquo;s Termination is by reason of death,
    Disability or the Participant&rsquo;s Retirement, all Stock Options or Stock Appreciation Rights that are held by such Participant
    that are vested and exercisable at the time of the Participant&rsquo;s Termination may be exercised by the Participant (or,
    in the case of death, by the legal representative of the Participant&rsquo;s estate) at any time within a one-year period
    from the date of such Termination, but in no event beyond the expiration of the stated term of such Stock Options or Stock
    Appreciation Rights; provided, however, if the Participant dies within such exercise period, all unexercised Stock Options
    or Stock Appreciation Rights held by such Participant shall thereafter be exercisable, to the extent to which they were exercisable
    at the time of death, for a period of one year from the date of such death, but in no event beyond the expiration of the stated
    term of such Stock Options or Stock Appreciation Rights.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(ii)
    <I>&nbsp;&nbsp;&nbsp;&nbsp;Involuntary Termination Without Cause. </I>If a Participant&rsquo;s Termination is by involuntary termination without Cause,
    all Stock Options or Stock Appreciation Rights that are held by such Participant that are vested and exercisable at the time
    of the Participant&rsquo;s Termination may be exercised by the Participant at any time within a period of 90 days from the
    date of such Termination, but in no event beyond the expiration of the stated term of such Stock Options or Stock Appreciation
    Rights.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(iii)
    <I>&nbsp;&nbsp;&nbsp;Voluntary Termination. </I>If a Participant&rsquo;s Termination is voluntary (other than a voluntary termination described
    in Section 12.2(a)(iv)(2) below), all Stock Options or Stock Appreciation Rights that are held by such Participant that are
    vested and exercisable at the time of the Participant&rsquo;s Termination may be exercised by the Participant at any time
    within a period of 30 days from the date of such Termination, but in no event beyond the expiration of the stated terms of
    such Stock Options or Stock Appreciation Rights.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD></TR></TABLE>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 11%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; width: 84%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(iv)
&nbsp;    <I>Termination for Cause.</I> If a Participant&rsquo;s Termination: (1) is for Cause or (2) is a voluntary Termination (as
    provided in sub-section (iii) above) after the occurrence of an event that would be grounds for a Termination for Cause, all
    Stock Options or Stock Appreciation Rights, whether vested or not vested, that are held by such Participant shall thereupon
    terminate and expire as of the date of such Termination.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(v)
    <I>&nbsp;&nbsp;&nbsp;&nbsp;Unvested Stock Options and Stock Appreciation Rights.</I> Stock Options or Stock Appreciation Rights that are not vested
    as of the date of a Participant&rsquo;s Termination for any reason shall terminate and expire as of the date of such Termination.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Rules
    Applicable to Restricted Stock, Performance Shares, Other Stock-Based Awards and Performance-Based Cash Awards</I>. Unless
    otherwise determined by the Committee at grant or thereafter, upon a Participant&rsquo;s Termination for any reason: (i)&nbsp;during
    the relevant Restriction Period, all Restricted Stock still subject to restriction shall be forfeited; and (ii)&nbsp;any unvested
    Performance Shares, Other Stock-Based Awards or Performance-Based Cash Awards shall be forfeited</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena013_v1"></A>ARTICLE
XIII</B><BR>
<BR>
CHANGE IN CONTROL PROVISIONS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>13.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Benefits</U></B>.
In the event of a Change in Control of the Company, and except as otherwise provided by the Committee in an Award agreement or
in a written employment agreement between the Company and a Participant, a Participant&rsquo;s unvested Award shall not vest and
a Participant&rsquo;s Award shall be treated in accordance with one of the following methods as determined by the Committee in
its sole discretion:</FONT></P>

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<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Awards,
    whether or not then vested, shall be continued, assumed, have new rights substituted therefor or be treated in accordance
    with Section 4.2(d) hereof, as determined by the Committee in its sole discretion, and restrictions to which any shares of
    Restricted Stock or any other Award granted prior to the Change in Control are subject shall not lapse upon a Change in Control
    and the Restricted Stock or other Award shall, where appropriate in the sole discretion of the Committee, receive the same
    distribution as other Common Stock on such terms as determined by the Committee; provided that, the Committee may, in its
    sole discretion, decide to award additional Restricted Stock or other Award in lieu of any cash distribution. Notwithstanding
    anything to the contrary herein, for purposes of Incentive Stock Options, any assumed or substituted Stock Option shall comply
    with the requirements of Treasury Regulation &sect; 1.424-1 (and any amendments thereto) and for purposes of any Non-Qualified
    Stock Options and Stock Appreciations Rights, any assumed or substituted Non-Qualified Stock Option or Stock Appreciation
    Right shall comply with the requirements of Section 409A of the Code and the regulations and guidance issued thereunder.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
    Committee, in its sole discretion, may provide for the purchase of any Awards by the Company or an Affiliate for an amount
    of cash equal to the excess of the Change in Control Price (as defined below) of the shares of Common Stock covered by such
    Awards, over the aggregate exercise price of such Awards. For purposes of this Section 13.1, &ldquo;Change in Control Price&rdquo;
    shall mean the highest price per share of Common Stock paid in any transaction related to a Change in Control of the Company.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
    Committee may, in its sole discretion, provide for the cancellation of any Awards without payment, if the Change in Control
    Price is less than the Fair Market Value of such Award on the date of grant.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD></TR></TABLE>

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<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 11%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 84%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="padding-bottom: 10pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notwithstanding
    anything else herein, the Committee may, in its sole discretion, provide for accelerated vesting or lapse of restrictions,
    of an Award at the time of grant or at any time thereafter.</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>13.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Change
in Control</U></B>. Unless otherwise determined by the Committee in the applicable Award agreement (or other written agreement
approved by the Committee including, without limitation, an employment agreement), a &ldquo;Change in Control&rdquo; shall be
deemed to occur following any transaction if: (a) any &ldquo;person&rdquo; as such term is used in Sections 13(d) and 14(d) of
the Exchange Act (other than the Company, any trustee or other fiduciary holding securities under any employee benefit plan of
the Company, or any company owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions
as their ownership of Common Stock of the Company), becomes the &ldquo;beneficial owner&rdquo; (as defined in Rule 13d-3 under
the Exchange Act), directly or indirectly, of 50% or more of the combined voting power of the then outstanding securities of the
Company (or its successor corporation); provided, however, that a merger or consolidation effected solely to implement a recapitalization
of the Company shall not constitute a Change in Control of the Company; or (b) the stockholders of the Company approve a plan
of complete liquidation of the Company; <U>provided</U>, that this subsection (b) shall not constitute a Change in Control with
respect to the amount of any payment pursuant to an Award under this Plan, or any portion thereof, that is triggered upon a Change
in Control and that is intended to constitute &ldquo;non-qualified deferred compensation&rdquo; pursuant to Section 409A of the
Code; or (c) the consummation of the sale or disposition by the Company of all or substantially all of the Company&rsquo;s assets
other than (i) the sale or disposition of all or substantially all of the assets of the Company to a person or persons who beneficially
own, directly or indirectly, at least 50% or more of the combined voting power of the outstanding voting securities of the Company
at the time of the sale or (ii) pursuant to a spinoff type transaction, directly or indirectly, of such assets to the stockholders
of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena014_v1"></A>ARTICLE
XIV</B><BR>
<BR>
TERMINATION OR AMENDMENT OF PLAN</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>14.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Termination
or Amendment</U></B>. Notwithstanding any other provision of this Plan, the Board or the Committee may at any time, and from time
to time, amend, in whole or in part, any or all of the provisions of this Plan (including any amendment deemed necessary to ensure
that the Company may comply with any regulatory requirement referred to in Article XVI), or suspend or terminate it entirely,
retroactively or otherwise; provided, however, that, unless otherwise required by law or specifically provided herein, the rights
of a Participant with respect to Awards granted prior to such amendment, suspension or termination, may not be impaired without
the consent of such Participant and, provided further, without the approval of the stockholders of the Company in accordance with
the laws of the State of Delaware, to the extent required by the applicable provisions of Rule 16b-3 or Section 162(m) of the
Code, pursuant to the requirements of NASD Rule 4350(i)(1)(A) or such other applicable stock exchange rule, or, to the extent
applicable to Incentive Stock Options, Section 422 of the Code, no amendment may be made which would:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">increase
    the aggregate number of shares of Common Stock that may be issued under this Plan pursuant to Section 4.1 (except by operation
    of Section 4.2);</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">increase
                                         the maximum individual Participant limitations for a fiscal year under Section 4.1(b)
                                         (except by operation of Section 4.2);</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">change
    the classification of Eligible Employees or Consultants eligible to receive Awards under this Plan;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">decrease the minimum
    option price of any Stock Option or Stock Appreciation Right;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(e)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">extend the maximum
    option period under Section 6.3;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(f)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">alter
    the Performance Goals for the Award of Restricted Stock, Performance Shares or Other Stock-Based Awards subject to satisfaction
    of Performance Goals as set forth in Exhibit A;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD></TR></TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 11%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; width: 84%"><FONT STYLE="font: 1pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(g)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">other
    than adjustments or substitutions in accordance with <U>Section 4.2</U>, amend the terms of outstanding Awards to reduce the
    exercise price of outstanding Stock Options or Stock Appreciation Rights or to cancel outstanding Stock Options or Stock Appreciation
    Rights in exchange for cash, other Awards or Stock Options or Stock Appreciation Rights with an exercise price that is less
    than the exercise price of the original Stock Options or Stock Appreciation Rights;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(h)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">award
    any Stock Option or Stock Appreciation Right in replacement of a canceled Stock Option or Stock Appreciation Right with a
    higher exercise price, except in accordance with Section 6.3(g); or</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(i)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">require
    stockholder approval in order for this Plan to continue to comply with the applicable provisions of Section 162(m) of the
    Code or, to the extent applicable to Incentive Stock Options, Section 422 of the Code. In no event may this Plan be amended
    without the approval of the stockholders of the Company in accordance with the applicable laws of the State of Delaware to
    increase the aggregate number of shares of Common Stock that may be issued under this Plan, decrease the minimum exercise
    price of any Stock Option or Stock Appreciation Right, or to make any other amendment that would require stockholder approval
    under NASD Rule 4350(i)(1)(A) or other such rules of any exchange or system on which the Company&rsquo;s securities are listed
    or traded at the request of the Company.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Committee may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to Article IV above
or as otherwise specifically provided herein, no such amendment or other action by the Committee shall impair the rights of any
holder without the holder&rsquo;s consent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena015_v1"></A>ARTICLE
XV</B><BR>
<BR>
UNFUNDED PLAN</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>15.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Unfunded
Status of Plan</U></B>. This Plan is an &ldquo;unfunded&rdquo; plan for incentive and deferred compensation. With respect to any
payments as to which a Participant has a fixed and vested interest but that are not yet made to a Participant by the Company,
nothing contained herein shall give any such Participant any rights that are greater than those of a general unsecured creditor
of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena016_v1"></A>ARTICLE
XVI</B><BR>
<BR>
GENERAL PROVISIONS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;&nbsp;&nbsp;&nbsp;<U>Legend</U></B>.
The Committee may require each person receiving shares of Common Stock pursuant to a Stock Option or other Award under the Plan
to represent to and agree with the Company in writing that the Participant is acquiring the shares without a view to distribution
thereof. In addition to any legend required by this Plan, the certificates for such shares may include any legend that the Committee,
in its sole discretion, deems appropriate to reflect any restrictions on Transfer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All
certificates for shares of Common Stock delivered under the Plan shall be subject to such stop transfer orders and other restrictions
as the Committee may, in its sole discretion, deem advisable under the rules, regulations and other requirements of the Securities
and Exchange Commission, The Nasdaq Stock Market or any national securities exchange system upon whose system the Common Stock
is then quoted, any applicable Federal or state securities law, and any applicable corporate law, and the Committee may cause
a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Other
Plans</U></B>. Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation arrangements,
subject to stockholder approval if such approval is required; and such arrangements may be either generally applicable or applicable
only in specific cases.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>No
Right to Employment/Directorship/Consultancy</U></B>. Neither this Plan nor the grant of any Option or other Award hereunder shall
give any Participant or other employee, Consultant or Non-Employee Director any right with respect to continuance of employment,
consultancy or directorship by the Company or any Affiliate, nor shall they be a limitation in any way on the right of the Company
or any Affiliate by which an employee is employed or a Consultant or Non-Employee Director is retained to terminate his or her
employment, consultancy or directorship at any time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Withholding
of Taxes</U></B>. The Company shall have the right to deduct from any payment to be made pursuant to this Plan, or to otherwise
require, prior to the issuance or delivery of any shares of Common Stock or the payment of any cash hereunder, payment by the
Participant of, any Federal, state or local taxes required by law to be withheld. Upon the vesting of Restricted Stock (or other
Award that is taxable upon vesting), or upon making an election under Section 83(b) of the Code, a Participant shall pay all required
withholding to the Company. Any statutorily required withholding obligation with regard to any Participant may be satisfied, subject
to the advance consent of the Committee, by reducing the number of shares of Common Stock otherwise deliverable or by delivering
shares of Common Stock already owned. Any fraction of a share of Common Stock required to satisfy such tax obligations shall be
disregarded and the amount due shall be paid instead in cash by the Participant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>No
Assignment of Benefits</U></B>. No Award or other benefit payable under this Plan shall, except as otherwise specifically provided
by law or permitted by the Committee, be Transferable in any manner, and any attempt to Transfer any such benefit shall be void,
and any such benefit shall not in any manner be liable for or subject to the debts, contracts, liabilities, engagements or torts
of any person who shall be entitled to such benefit, nor shall it be subject to attachment or legal process for or against such
person.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.6&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Listing and Other Conditions.</U></B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="width: 84%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Unless
    otherwise determined by the Committee, as long as the Common Stock is listed on a national securities exchange or system sponsored
    by a national securities association, the issue of any shares of Common Stock pursuant to an Award shall be conditioned upon
    such shares being listed on such exchange or system. The Company shall have no obligation to issue such shares unless and
    until such shares are so listed, and the right to exercise any Option or other Award with respect to such shares shall be
    suspended until such listing has been effected.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
    at any time counsel to the Company shall be of the opinion that any sale or delivery of shares of Common Stock pursuant to
    an Option or other Award is or may in the circumstances be unlawful or result in the imposition of excise taxes on the Company
    under the statutes, rules or regulations of any applicable jurisdiction, the Company shall have no obligation to make such
    sale or delivery, or to make any application or to effect or to maintain any qualification or registration under the Securities
    Act or otherwise, with respect to shares of Common Stock or Awards, and the right to exercise any Option or other Award shall
    be suspended until, in the opinion of said counsel, such sale or delivery shall be lawful or will not result in the imposition
    of excise taxes on the Company.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Upon
    termination of any period of suspension under this Section 16.6, any Award affected by such suspension which shall not then
    have expired or terminated shall be reinstated as to all shares available before such suspension and as to shares which would
    otherwise have become available during the period of such suspension, but no such suspension shall extend the term of any
    Award.</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A
                                         Participant shall be required to supply the Company with any certificates, representations
                                         and information that the Company requests and otherwise cooperate with the Company in
                                         obtaining any listing, registration, qualification, exemption, consent or approval the
                                         Company deems necessary or appropriate.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Governing
Law</U></B>. This Plan and actions taken in connection herewith shall be governed and construed in accordance with the laws of
the State of Delaware (regardless of the law that might otherwise govern under applicable Delaware principles of conflict of laws).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Construction</U></B>.
Wherever any words are used in this Plan in the masculine gender they shall be construed as though they were also used in the
feminine gender in all cases where they would so apply, and wherever any words are used herein in the singular form they shall
be construed as though they were also used in the plural form in all cases where they would so apply.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Other
Benefits</U></B>. No Award granted or paid out under this Plan shall be deemed compensation for purposes of computing benefits
under any retirement plan of the Company or its Affiliates nor affect any benefits under any other benefit plan now or subsequently
in effect under which the availability or amount of benefits is related to the level of compensation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.10
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Costs</U></B>. The Company shall bear all expenses associated with administering this Plan, including expenses of issuing Common
Stock pursuant to any Awards hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.11&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Right to Same Benefits</U></B>. The provisions of Awards need not be the same with respect to each Participant, and such Awards
to individual Participants need not be the same in subsequent years.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Death/Disability</U>.
</B>The Committee may in its sole discretion require the transferee of a Participant to supply it with written notice of the Participant&rsquo;s
death or Disability and to supply it with a copy of the will (in the case of the Participant&rsquo;s death) or such other evidence
as the Committee deems necessary to establish the validity of the transfer of an Award. The Committee may, in its discretion,
also require the agreement of the transferee to be bound by all of the terms and conditions of the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Section
16(b) of the Exchange Act</U></B>. All elections and transactions under this Plan by persons subject to Section 16 of the Exchange
Act involving shares of Common Stock are intended to comply with any applicable exemptive condition under Rule&nbsp;16b-3. The
Committee may, in its sole discretion, establish and adopt written administrative guidelines, designed to facilitate compliance
with Section 16(b) of the Exchange Act, as it may deem necessary or proper for the administration and operation of this Plan and
the transaction of business thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Section
409A of the Code</U></B>. Although the Company does not guarantee the particular tax treatment of an Award granted under this
Plan, Awards made under this Plan are intended to comply with, or be exempt from, the applicable requirements of Section 409A
of the Code and this Plan and any Award agreement hereunder shall be limited, construed and interpreted in accordance with such
intent. In no event whatsoever shall the Company or any of its Affiliates be liable for any additional tax, interest or penalties
that may be imposed on a Participant by Section 409A of the Code or any damages for failing to comply with Section 409A of the
Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;&nbsp;<U>Successor
and Assigns</U></B>. The Plan shall be binding on all successors and permitted assigns of a Participant, including, without limitation,
the estate of such Participant and the executor, administrator or trustee of such estate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Severability
of Provisions</U></B>. If any provision of the Plan shall be held invalid or unenforceable, such invalidity or unenforceability
shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been
included.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Payments
to Minors, Etc</U>.</B> Any benefit payable to or for the benefit of a minor, an incompetent person or other person incapable
of receipt thereof shall be deemed paid when paid to such person&rsquo;s guardian or to the party providing or reasonably appearing
to provide for the care of such person, and such payment shall fully discharge the Committee, the Board, the Company, its Affiliates
and their employees, agents and representatives with respect thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>16.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Headings
and Captions</U></B>. The headings and captions herein are provided for reference and convenience only, shall not be considered
part of the Plan, and shall not be employed in the construction of the Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena017_v1"></A>ARTICLE
XVII</B><BR>
<BR>
EFFECTIVE DATE OF PLAN</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Plan was originally adopted by the Board on March 10, 2006 and approved by the stockholders of the Company on May 26, 2006. An
amendment and restatement of the Plan (the &ldquo;Amended and Restated Plan&rdquo;) was adopted by the Board on April 6, 2009
and approved by the stockholders of the Company on May 22, 2009. The Board subsequently approved an amendment of the Amended and
Restated Plan in the form set forth herein (the &ldquo;Amended Plan&rdquo;) subject to, and to be effective upon, the approval
of the stockholders of the Company in accordance with the requirements of the laws of the State of Delaware at the Company&rsquo;s
2012 annual stockholders&rsquo; meeting to be held on May 25, 2012 (the &ldquo;Amendment Date&rdquo;). If the Amended Plan is
not so approved by the stockholders, all provisions of the Amended and Restated Plan shall remain effective.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena018_v1"></A>ARTICLE
XVIII</B><BR>
<BR>
TERM OF PLAN</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No
Award shall be granted pursuant to this Plan on or after the tenth anniversary of the earlier of the date the Plan is adopted
by the Board and the Effective Date, but Awards granted prior to such tenth anniversary may extend beyond that date; provided
that no Award (other than a Stock Option or Stock Appreciation Right) that is intended to be &ldquo;performance-based&rdquo; under
Section&nbsp;162(m) of the Code shall be granted on or after the fifth anniversary of the stockholder approval of the Plan unless
the Performance Goals set forth on Exhibit A are reapproved (or other designated performance goals are approved) by the stockholders
no later than the first stockholder meeting that occurs in the fifth year following the year in which stockholders approve the
Performance Goals set forth on Exhibit A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena019_v1"></A>ARTICLE
XIX</B><BR>
<BR>
NAME OF PLAN</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
Plan shall be known as &ldquo;The Steven Madden, Ltd. 2006 Stock Incentive Plan.&rdquo;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smaddena020_v1"></A>EXHIBIT
A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PERFORMANCE
GOALS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>1.</TD>
    <TD COLSPAN="3">Performance goals established for purposes of the grant or vesting of Awards of Restricted Stock, Other Stock-Based Awards, Performance Shares and/or Performance-Based Cash Awards, each intended to be &ldquo;performance-based&rdquo; under Section 162(m) of the Code, shall be based on the attainment of certain target levels of, or a specified increase or decrease (as applicable) in one or more of the following performance goals (&ldquo;Performance Goals&rdquo;):</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 4%">(a)</TD>
    <TD STYLE="width: 84%">earnings per share;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD>operating income;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD>net income;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD>cash flow;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(e)</TD>
    <TD>gross profit;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(f)</TD>
    <TD>gross profit return on investment;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(g)</TD>
    <TD>gross margin return on investment;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(h)</TD>
    <TD>gross margin;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD>working capital;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(j)</TD>
    <TD>earnings before interest and taxes;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(k)</TD>
    <TD>earnings before interest, tax, depreciation and amortization;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(l)</TD>
    <TD>return on equity;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(m)</TD>
    <TD>return on assets;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(n)</TD>
    <TD>return on capital;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(o)</TD>
    <TD>revenue growth;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(p)</TD>
    <TD>total shareholder return;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(q)</TD>
    <TD>economic value added;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(r)</TD>
    <TD>specified objectives with regard to limiting the level of increase in all or a portion of the Company&rsquo;s bank debt or other long-term or short-term public or private debt or other similar financial obligations of the Company, which may be calculated net of cash balances and/or other offsets and adjustments as may be established by the Committee in its sole discretion;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(s)</TD>
    <TD>the fair market value of the shares of the Company&rsquo;s Common Stock;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(t)</TD>
    <TD>the growth in the value of an investment in the Company&rsquo;s Common Stock assuming the reinvestment of dividends;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(u)</TD>
    <TD>reduction in expenses;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(v)</TD>
    <TD>customer satisfaction;</TD></TR>
</TABLE>



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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 84%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(w)</TD>
    <TD>customer loyalty;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(x)</TD>
    <TD>style indexes;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(y)</TD>
    <TD>number of new patents;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(z)</TD>
    <TD>employee retention;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(aa)</TD>
    <TD>market share;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(bb)</TD>
    <TD>market segment share;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(cc)</TD>
    <TD>product release schedules;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(dd)</TD>
    <TD>new product innovation;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(ee)</TD>
    <TD>new product introduction;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(ff)</TD>
    <TD>product cost reduction through advanced technology;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(gg)</TD>
    <TD>brand recognition and/or acceptance; or</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(hh)</TD>
    <TD>ship targets.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.</TD>
    <TD COLSPAN="3">To the extent permitted under Section 162(m) of the Code, the Committee may, in its sole discretion, also exclude, or adjust to reflect, the impact of an event or occurrence which the Committee determines should be appropriately excluded or adjusted, including:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD>restructurings, discontinued operations, extraordinary items or events, and other unusual or non-recurring charges as described in Accounting Principles Board Opinion No. 30 and/or management&rsquo;s discussion and analysis of financial condition and results of operations appearing or incorporated by reference in the Company&rsquo;s Form 10-K for the applicable year;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD>an event either not directly related to the operations of the Company or not within the reasonable control of the Company&rsquo;s management; or</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD>a change in tax law or accounting standards required by generally accepted accounting principles.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.</TD>
    <TD COLSPAN="3">Performance goals may also be based upon individual Participant performance goals, as determined by the Committee, in its sole discretion.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.</TD>
    <TD COLSPAN="3">In addition, such Performance Goals may be based upon the attainment of specified levels of Company (or subsidiary, division, other operational unit or administrative department of the Company) performance under one or more of the measures described above relative to the performance of other corporations. To the extent permitted under Section&nbsp;162(m) of the Code, but only to the extent permitted under Section&nbsp;162(m) of the Code (including, without limitation, compliance with any requirements for stockholder approval), the Committee may:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD>designate additional business criteria on which the performance goals may be based; or</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD>adjust, modify or amend the aforementioned business criteria.</TD></TR>
</TABLE>
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<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
 <TR STYLE="font-size: 1px">
 <TD WIDTH="5%" VALIGN="TOP">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="45%" VALIGN="TOP">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="50%" VALIGN="TOP">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="0" STYLE="border-style: none"><P CLASS="MSONORMAL">&nbsp;</P></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">
 <TD ROWSPAN="11" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD ROWSPAN="11" VALIGN="TOP">
<IMG SRC="smadden001_v1.jpg" ALT="(STEVEN MADDEN LOGO)"><FONT SIZE="2"><I><B><BR>STEVEN MADDEN, LTD. <BR>
 ATTN: ARVIND DHARIA<BR>
 52-16 BARNETT AVENUE<BR>
 LONG ISLAND CITY, NY 11104</B></I></FONT>
 </TD>
 <TD ROWSPAN="11" VALIGN="TOP">
 <P><FONT SIZE="2"><B>VOTE BY
 INTERNET - www.proxyvote.com<BR>
 </B>Use the Internet to
 transmit your voting instructions and for electronic delivery of information
 up until 11:59 P.M. Eastern Time the day before the meeting date. Have your
 proxy card in hand when you access the web site and follow the instructions
 to obtain your records and to create an electronic voting instruction form.</FONT></P>

  <P><FONT SIZE="2"><B>ELECTRONIC
 DELIVERY OF FUTURE PROXY MATERIALS<BR>
 </B>If you would like to
 reduce the costs incurred by our company in mailing proxy materials, you can
 consent to receiving all future proxy statements, proxy cards and annual
 reports electronically via e-mail or the Internet. To sign up for electronic
 delivery, please follow the instructions above to vote using the Internet
 and, when prompted, indicate that you agree to receive or access proxy
 materials electronically in future years.</FONT></P>

  <P><FONT SIZE="2"><B>VOTE BY
 PHONE - 1-800-690-6903<BR>
 </B>Use any touch-tone
 telephone to transmit your voting instructions up until 11:59 P.M. Eastern
 Time the day before the meeting date. Have your proxy card in hand when you
 call and then follow the instructions.</FONT></P>

  <P><FONT SIZE="2"><B>VOTE BY
 MAIL<BR>
 </B>Mark, sign and date
 your proxy card and return it in the postage-paid envelope we have provided
 or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood,
 NY 11717.</FONT></P>
 </TD>
 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

  <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
 <TR HEIGHT="15" STYLE="height: 11.5pt">

 <TD WIDTH="0" HEIGHT="15" STYLE="height: 11.5pt; border-style: none"></TD>
 </TR>
</TABLE>

<BR><BR><BR><BR><BR>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
 <TR STYLE="font-size: 1px">
 <TD WIDTH="100%" VALIGN="TOP">
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP">
 <P><FONT SIZE="2">TO
 VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt dashed">
 <P ALIGN="RIGHT"><FONT SIZE="2">KEEP
 THIS PORTION FOR YOUR RECORDS</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP">
 <P ALIGN="RIGHT"><FONT SIZE="2">DETACH
 AND RETURN THIS PORTION ONLY</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2"><B>THIS&nbsp;&nbsp;PROXY&nbsp;&nbsp;CARD&nbsp;&nbsp;IS&nbsp;&nbsp;VALID&nbsp;&nbsp;ONLY&nbsp;&nbsp;WHEN&nbsp;&nbsp;SIGNED&nbsp;&nbsp;AND&nbsp;&nbsp;DATED.</B></FONT></P>
 </TD>
 </TR>
</TABLE>








<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
 <TR STYLE="font-size: 8px">
 <TD WIDTH="2%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="2%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="13%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="2%" COLSPAN="2" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="2%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="13%" COLSPAN="2" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="6%" COLSPAN="2" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="6%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="2%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="11%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="8%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="2%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="2%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="2%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="4%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="5%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="2%" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P ALIGN="CENTER"><FONT SIZE="1"><B>For <BR>
 All</B></FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" STYLE="border-style: none">
 <P ALIGN="CENTER"><FONT SIZE="1"><B>Withhold<BR>
 All</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P ALIGN="CENTER"><FONT SIZE="1"><B>For All<BR>
 Except</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" ROWSPAN="2" VALIGN="TOP" STYLE="border-style: none">
 <P ALIGN="JUSTIFY"><FONT SIZE="1">To withhold authority to
 vote for any individual nominee(s), mark &ldquo;For All Except&rdquo; and write the
 number(s) of the nominee(s) on the line below.</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top: black 1.5pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top: BLACK 1.5pt solid; border-right: BLACK 1.5pt solid; border-left-style: none; border-bottom-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
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 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="7" VALIGN="TOP">
 <P><FONT SIZE="1"><B>The Board
 of Directors recommends you vote </B></FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
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 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1"><B>FOR the
 following:</B></FONT></P>
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 <P><FONT SIZE="1">&nbsp;</FONT></P>
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 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
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 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1"><B>1.</B></FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">Election of Directors</FONT></P>
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 <P><FONT SIZE="1"><B>Nominees</B></FONT></P>
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 <P><FONT SIZE="1">&nbsp;</FONT></P>
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 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid"><P><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP"><P><FONT STYLE="font-size: 8pt">01<BR>
06</FONT></P>
 </TD>
 <TD COLSPAN="21" NOWRAP STYLE="vertical-align: top"><P><FONT STYLE="font-size: 8pt">Edward&nbsp;R.&nbsp;Rosenfeld&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rose&nbsp;Peabody&nbsp;Lynch&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peter
                                         Migliorini&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Richard
                                         P. Randall&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ravi
                                         Sachdev</FONT><BR><FONT STYLE="font-size: 8pt">Thomas H. Schwartz&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;
                                         07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert Smith&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                         08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amelia Newton Varela</FONT></P>

</TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid"><P><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>
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 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
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 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
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 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="14" VALIGN="TOP">
 <P><FONT SIZE="1"><B>The Board
 of Directors recommends you vote FOR proposals  2, 3 and 4.</B></FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
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 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="BOTTOM">
 <P ALIGN="CENTER"><FONT SIZE="1"><B>For</B></FONT></P>
 </TD>
 <TD VALIGN="BOTTOM">
 <P ALIGN="CENTER"><FONT SIZE="1"><B>Against</B></FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="BOTTOM">
 <P ALIGN="CENTER"><FONT SIZE="1"><B>Abstain</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
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 <TD VALIGN="BOTTOM">
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 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
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 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
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 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1"><B>2.</B></FONT></P>
 </TD>
 <TD COLSPAN="16" VALIGN="TOP">
 <P><FONT STYLE="font-size: xx-small">TO RATIFY THE APPOINTMENT OF EISNERAMPER LLP AS THE COMPANY&rsquo;S INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2016.</FONT></P>
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 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
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 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
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 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="BOTTOM">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="BOTTOM">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="BOTTOM">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1"><B>3.</B></FONT></P>
 </TD>
 <TD COLSPAN="16" VALIGN="TOP">
 <P><FONT STYLE="font-size: xx-small">TO APPROVE, BY NON-BINDING ADVISORY VOTE, THE EXECUTIVE COMPENSATION DESCRIBED IN THE STEVEN
MADDEN, LTD PROXY STATEMENT.</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> </FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="BOTTOM">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="BOTTOM">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="BOTTOM">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1"><B>4.</B></FONT></P>
 </TD>
 <TD COLSPAN="16" VALIGN="TOP">
 <P><FONT STYLE="font-size: xx-small">TO RE-APPROVE THE MATERIAL TERMS OF THE PERFORMANCE GOALS UNDER THE STEVEN MADDEN, LTD. 2006 STOCK INCENTIVE PLAN PURSUANT TO SECTION 162(M) OF THE INTERNAL REVENUE CODE.</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> </FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="17" VALIGN="TOP">
 <P><FONT SIZE="1"><B>NOTE: </B><FONT SIZE="1">In their
 discretion, the proxies are authorized to vote upon such other business as
 may properly be presented at the meeting or any adjournments or postponements
 thereof.</FONT></FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="1"><B>Yes</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" COLSPAN="2">
 <P ALIGN="CENTER"><FONT SIZE="1"><B>No</B></FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="7" VALIGN="TOP">
 <P><FONT SIZE="1">Please indicate if you plan
 to attend this meeting</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD VALIGN="TOP" COLSPAN="2">
 <P ALIGN="CENTER"><FONT SIZE="2" FACE="wingdings">o</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="10" VALIGN="TOP">
 <P><FONT SIZE="1">Please sign exactly as your
 name(s) appear(s) hereon. When signing as attorney, executor, administrator,
 or other fiduciary, please give full title as such. Joint owners should each
 sign personally. All holders must sign. If a corporation or partnership,
 please sign in full corporate or partnership name, by authorized officer.</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left: BLACK 1pt none; border-left-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: BLACK 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; border-left: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-left: Black 1pt solid; border-top: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-top: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-left: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-top: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-top: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-top: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-top: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-top: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; border-left: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-bottom-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" STYLE="border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" STYLE="border-top-style: none; border-left-style: none; border-bottom: BLACK 1pt solid; border-right: BLACK 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-left-style: none; border-bottom: BLACK 1pt solid; border-right: BLACK 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-style: none">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-top-style: none; border-right: BLACK 1pt none; border-bottom-style: none; border-left-style: none; border-right-style: solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; border-left: Black 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" NOWRAP STYLE="vertical-align: top">
 <P STYLE="margin-bottom: 10pt"><FONT SIZE="1">Signature [PLEASE SIGN
 WITHIN BOX]</FONT></P>
 </TD>
 <TD COLSPAN="3" STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P STYLE="margin-bottom: 5pt"><FONT SIZE="1">Date</FONT></P>
 </TD>
 <TD COLSPAN="2" STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="3" STYLE="vertical-align: top">
 <P STYLE="margin-bottom: 5pt"><FONT SIZE="1">Signature (Joint Owners)</FONT></P>
 </TD>
 <TD COLSPAN="3" STYLE="vertical-align: top">
 <P STYLE="margin-bottom: 5pt"><FONT SIZE="1">Date</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="2" STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-right: BLACK 1pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
  <TR STYLE="font-size: 5px">
 <TD STYLE="vertical-align: top; border-top-style: none; border-left: BLACK 1pt solid; border-bottom: BLACK 1pt solid; border-right-style: none">&nbsp;</TD>
 <TD COLSPAN="3" NOWRAP STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-left-style: none; border-bottom: BLACK 1pt solid">&nbsp;</TD>
 <TD COLSPAN="3" STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD COLSPAN="2" STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD COLSPAN="3" STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD COLSPAN="3" STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD COLSPAN="2" STYLE="vertical-align: top; border-top-style: none; border-right-style: none; border-bottom: BLACK 1pt none; border-left-style: none; border-bottom-style: solid">&nbsp;</TD>
 <TD STYLE="vertical-align: top; border-top-style: none; border-left-style: none; border-bottom: BLACK 1pt solid; border-right: BLACK 1pt solid">&nbsp;</TD></TR>
<TR HEIGHT="0">
 <TD WIDTH="14" STYLE="border-style: none"></TD>
 <TD WIDTH="13" STYLE="border-style: none"></TD>
 <TD WIDTH="94" STYLE="border-style: none"></TD>
 <TD WIDTH="14" STYLE="border-style: none"></TD>
 <TD WIDTH="1" STYLE="border-style: none"></TD>
 <TD WIDTH="20" STYLE="border-style: none"></TD>
 <TD WIDTH="35" STYLE="border-style: none"></TD>
 <TD WIDTH="60" STYLE="border-style: none"></TD>
 <TD WIDTH="21" STYLE="border-style: none"></TD>
 <TD WIDTH="17" STYLE="border-style: none"></TD>
 <TD WIDTH="29" STYLE="border-style: none"></TD>
 <TD WIDTH="43" STYLE="border-style: none"></TD>
 <TD WIDTH="10" STYLE="border-style: none"></TD>
 <TD WIDTH="15" STYLE="border-style: none"></TD>
 <TD WIDTH="86" STYLE="border-style: none"></TD>
 <TD WIDTH="64" STYLE="border-style: none"></TD>
 <TD WIDTH="15" STYLE="border-style: none"></TD>
 <TD WIDTH="15" STYLE="border-style: none"></TD>
 <TD WIDTH="20" STYLE="border-style: none"></TD>
 <TD WIDTH="33" STYLE="border-style: none"></TD>
 <TD WIDTH="38" STYLE="border-style: none"></TD>
 <TD WIDTH="24" STYLE="border-style: none"></TD>
 <TD WIDTH="24" STYLE="border-style: none"></TD>
 <TD WIDTH="15" STYLE="border-style: none"></TD>
 </TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<BR><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR><BR><BR><BR>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
 <TR STYLE="font-size: 1px">
 <TD WIDTH="4%" VALIGN="TOP">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="92%" VALIGN="TOP">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="4%" VALIGN="TOP">
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN="3" VALIGN="TOP">
 <P STYLE="text-align: center"><FONT STYLE="font-size: x-small"><B>Important Notice Regarding the Availability of Proxy Materials
for the Annual Meeting:</B></FONT><BR>
<FONT STYLE="font-size: x-small">The Notice, Proxy Statement, Supplement to Proxy Statement and Annual Report with Form 10-K
are available at www.proxyvote.com.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt dashed">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; border-bottom: Black 1pt dashed">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-bottom: BLACK 1pt dashed">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-bottom: black 2px solid">
 <P><FONT SIZE="2">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-bottom: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-bottom: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2"><B>STEVEN MADDEN, LTD.</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2"><B>THIS PROXY IS BEING SOLICITED ON BEHALF OF</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2"><B>THE BOARD OF DIRECTORS</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2"><B>PLEASE CLEARLY INDICATE A RESPONSE BY CHECKING ONE OF THE
 BOXES NEXT TO EACH OF THE PROPOSALS</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="2">The undersigned
 stockholder(s) of Steven Madden, Ltd. (the &ldquo;Company&rdquo;) hereby appoint(s)
 Edward R. Rosenfeld and Arvind Dharia, and each of them, as attorneys and
 proxies, each with power of substitution and revocation, to represent the
 undersigned at the Annual Meeting of Stockholders of the Company to be held
 at the Company&rsquo;s showroom located at 1370 Avenue of the Americas, 14th Floor,
 New York, New York at 10:00 a.m., local time, on May 27, 2016 and at any
 adjournments or postponements thereof, with authority to vote all shares of
 Common Stock of the Company held or owned by the undersigned on April 1,
 2016, in accordance with the directions indicated herein.</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT STYLE="font-size: x-small"><B>THIS PROXY WILL BE VOTED AS SPECIFIED HEREIN; UNLESS OTHERWISE INDICATED, THIS PROXY
 WILL  BE VOTED (1) <U>FOR</U> THE ELECTION OF THE EIGHT (8) NOMINEES NAMED IN ITEM 1, (2) <U>FOR</U> THE RATIFICATION OF THE
 APPOINTMENT  OF EISNERAMPER LLP AS THE COMPANY&rsquo;S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR
 2016,  (3) <U>FOR</U>  THE APPROVAL OF THE EXECUTIVE COMPENSATION DESCRIBED IN THE COMPANY&rsquo;S PROXY STATEMENT AND (4) <U>FOR</U> THE RE-APPROVAL OF THE MATERIAL TERMS OF THE PERFORMANCE GOALS UNDER THE STEVEN MADDEN, LTD. 2006 STOCK INCENTIVE PLAN PURSUANT TO SECTION 162(M) OF THE INTERNAL REVENUE CODE.
 THIS  PROXY WILL BE VOTED IN THE DISCRETION  OF THE PROXIES ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE
 MEETING.</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP">
 <P ALIGN="CENTER"><FONT SIZE="2"><B>Continued and to be signed on reverse side</B></FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP" STYLE="border-left: black 2px solid; border-bottom: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-bottom: black 2px solid">
 <P ALIGN="CENTER"><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD VALIGN="TOP" STYLE="border-right: black 2px solid; border-bottom: black 2px solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
