<SEC-DOCUMENT>0001626129-17-000153.txt : 20170331
<SEC-HEADER>0001626129-17-000153.hdr.sgml : 20170331
<ACCEPTANCE-DATETIME>20170330193144
ACCESSION NUMBER:		0001626129-17-000153
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170331
DATE AS OF CHANGE:		20170330
EFFECTIVENESS DATE:		20170331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HNI CORP
		CENTRAL INDEX KEY:			0000048287
		STANDARD INDUSTRIAL CLASSIFICATION:	OFFICE FURNITURE (NO WOOD) [2522]
		IRS NUMBER:				420617510
		STATE OF INCORPORATION:			IA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14225
		FILM NUMBER:		17727541

	BUSINESS ADDRESS:	
		STREET 1:		600 EAST SECOND STREET - PO BOX 1109
		CITY:			MUSCATINE
		STATE:			IA
		ZIP:			52761-7109
		BUSINESS PHONE:		5632727400

	MAIL ADDRESS:	
		STREET 1:		600 EAST SECOND STREET
		STREET 2:		P O BOX 1109
		CITY:			MUSCATINE
		STATE:			IA
		ZIP:			52761

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HON INDUSTRIES INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HOME O NIZE CO
		DATE OF NAME CHANGE:	19681001
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>hni-defa14a_033117.htm
<DESCRIPTION>ADDITIONAL MATERIAL
<TEXT>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 100%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">UNITED
    STATES</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">SECURITIES
    AND EXCHANGE COMMISSION</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt">Washington,
    D.C. 20549</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>SCHEDULE
    14A INFORMATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proxy
    Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Amendment
    No.&nbsp;&nbsp;&nbsp;)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/9pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

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<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
    by the Registrant&nbsp;&nbsp;&#9746;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
    by a Party other than the Registrant&nbsp;&nbsp;&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
    the appropriate box:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
    &nbsp;Preliminary Proxy Statement</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><B>&#9744; &nbsp;Confidential,
    for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>
    </B>&nbsp;Definitive Proxy Statement</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9746;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
    Definitive Additional Materials</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
    &nbsp;Soliciting Material Under Rule 14a-12</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt/9pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; 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: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>HNI
    CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
    of Registrant as Specified In Its Charter)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
    of Person(s) Filing Proxy Statement, if other than the Registrant)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/9pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/9pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; 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: bottom; font-family: Times New Roman, Times, Serif">
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payment
    of Filing Fee (Check the appropriate box):</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
    fee required</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
    computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 4%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 93%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title
    of each class of securities to which transaction applies:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregate
    number of securities to which transaction applies:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; 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: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposed
    maximum aggregate value of transaction:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    fee paid:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
    paid previously with preliminary materials.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.&nbsp;&nbsp;Identify the previous filing by registration statement number, or the Form or Schedule
    and the date of its filing.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount
    Previously Paid:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form,
    Schedule or Registration Statement No.:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing
    Party:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
    Filed:</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXPLANATORY
NOTE</B></FONT></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 24, 2017, HNI Corporation (the &ldquo;Corporation&rdquo;) filed its definitive proxy statement for its 2017 Annual Meeting
of Shareholders to be held May 9, 2017 (the &ldquo;Proxy Statement&rdquo;). Attached hereto as Appendix B, Appendix C and Appendix
D, respectively, are copies of HNI Corporation&rsquo;s 2017 Stock-Based Compensation Plan (the &ldquo;2017 Stock Plan&rdquo;),
the 2017 Equity Plan for Non-Employee Directors (the &ldquo;2017 Equity Plan&rdquo;), and the Members&rsquo; Stock Purchase Plan
(the &ldquo;2017 MSPP&rdquo;). Copies of the 2017 Stock Plan, the 2017 Equity Plan and the 2017 MSPP (together, the &ldquo;Plans&rdquo;)
were referred to in the Proxy Statement and are being filed as Appendix B, Appendix C and Appendix D to the Proxy Statement, respectively.&nbsp;</FONT></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposal
No. 5 included in the Proxy Statement proposes the Corporation&rsquo;s shareholders approve the 2017 Stock Plan. Proposal No.
6 included in the Proxy Statement proposes the Corporation&rsquo;s shareholders approve the 2017 Equity Plan. Proposal No. 7 included
in the Proxy Statement proposes the Corporation&rsquo;s shareholders approve the 2017 MSPP.</FONT></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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

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


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<TR>
    <TD></TD></TR>
</TABLE>
<P STYLE="margin: 0; text-align: right"><B>Appendix B</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>HNI CORPORATION</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">2017 STOCK-BASED COMPENSATION PLAN</P>


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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"><B><U>TABLE OF CONTENTS</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 91%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Page</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE I&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;PURPOSES; EFFECT ON PRIOR PLANS</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">1.1</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Purpose</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">1.2</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Effect on Prior Plans</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE II &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DEFINITIONS</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE III &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADMINISTRATION</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>5</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Power and Authority of the Committee</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Delegation</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">3.3</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Power and Authority of the Board</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">3.4</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Liability and Indemnification of Plan Administrators</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE IV &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ELIGIBILITY</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>6</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE V &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHARES AVAILABLE FOR AWARDS</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>7</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Shares Available</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">5.2</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Accounting for Awards</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">5.3</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Adjustments</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">5.4</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Award Limitations</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE VI &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OPTIONS AND STOCK APPRECIATION RIGHTS</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>8</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">6.1</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Options</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">6.2</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Stock Appreciation Rights</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE VII &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; STOCK AWARDS</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>9</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">7.1</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Restricted Stock and Restricted Stock Units</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">7.2</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Deferred Share Units</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">7.3</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Performance Share Awards</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">7.4</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Stock Grant Awards</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">10</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">7.5</FONT></TD>
    <TD STYLE="width: 90%; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Dividend Equivalents</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE VIII &nbsp;&nbsp;&nbsp;&nbsp;GENERAL PROVISIONS GOVERNING AWARDS</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>10</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8.1</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Consideration for Awards</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8.2</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Awards Subject to Performance Measures</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8.3</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Awards May Be Granted Separately or Together</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8.4</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Forms of Payment under Awards</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8.5</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Termination of Employment</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8.6</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Limits on Transfer of Awards</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8.7</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Restrictions; Securities Exchange Listing</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">8.8</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Tax Withholding</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE IX  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMENDMENT AND TERMINATION; CORRECTIONS</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>13</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">9.1</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Amendments to the Plan</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">9.2</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Amendments to Awards</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">9.3</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Correction of Defects, Omissions and Inconsistencies</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE X  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CHANGE IN CONTROL</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>14</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Consequences of Change in Control</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Definition of Change in Control</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">15</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE XI  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GENERAL PROVISIONS GOVERNING PLAN</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>16</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.1</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">No Rights to Awards</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.2</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Rights as Stockholder</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.3</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Governing Law</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.4</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Award Agreements</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.5</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">No Limit on Other Compensation Plans or Arrangements</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.6</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">No Right to Employment</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.7</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Severability</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>


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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.8</FONT></TD>
    <TD STYLE="width: 90%; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">No Trust or Fund Created</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.9</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Securities Matters</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.10</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">No Fractional Shares</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.11</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Headings</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.12</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Nontransferability</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.13</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">No Other Agreements</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.14</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Incapacity</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.15</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Release</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.16</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Notices</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.17</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Successors</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">11.18</FONT></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Awards Subject to Clawback</FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>ARTICLE XII  &nbsp;&nbsp;&nbsp;&nbsp;EFFECTIVE DATE AND TERM OF PLAN</B></FONT></TD>
    <TD STYLE="text-align: right; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt"><B>18</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"></P>




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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">2017 STOCK-BASED COMPENSATION PLAN</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in"> &nbsp;&nbsp;The
Board of Directors of HNI Corporation, an Iowa corporation (the &ldquo;Corporation&rdquo;), adopted the HNI Corporation 2017
Stock-Based Compensation Plan (the &ldquo;Plan&rdquo;) on February 15, 2017, and the shareholders of the Corporation approved
the Plan on [May 9, 2017].</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
I</U></FONT><U><BR>
PURPOSES; EFFECT ON PRIOR PLANS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Purpose</U>.</B>
The purpose of the Plan is to aid the Corporation in recruiting and retaining employees capable of assuring the future success
of the Corporation through the grant of Awards of stock-based compensation. The Corporation expects that the Awards and opportunities
for stock ownership in the Corporation will provide incentives to Plan participants to exert their best efforts for the success
of the Corporation&rsquo;s business and thereby align the interests of Plan participants with those of the Corporation&rsquo;s
stockholders. For purposes of the Plan, references to employment by the Corporation shall also mean employment by a Subsidiary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Effect
on Prior Plans</U>. </B>From and after the date of stockholder approval of the Plan, no awards shall be granted under the Corporation&rsquo;s
2007 Stock-Based Compensation Plan, as amended, but all outstanding awards previously granted under that plan shall remain outstanding
in accordance with their terms.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
II</U></FONT><U><BR>
DEFINITIONS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to other
terms that may be defined elsewhere herein, wherever the following terms are used in this Plan with initial capital letters, they
shall have the meanings specified below, unless the context clearly indicates otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Award&rdquo;</B>
means an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Deferred Share Unit, Performance Share Award,
Stock Grant Award, or Dividend Equivalent Award granted under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Award
Agreement&rdquo;</B> means any written agreement, contract or other instrument or document evidencing an Award granted under the
Plan. Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions
(not inconsistent with the Plan) determined by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Board&rdquo;</B>
means the Board of Directors of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Change
in Control&rdquo;</B> has the meaning set forth in Section 10.2 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Chief
Executive Officer&rdquo;</B> means the Chief Executive Officer of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Code&rdquo;</B>
means the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Committee&rdquo;</B>
means the Committee designated by the Board, consisting of two or more members of the Board, each of whom shall be: (i) a &ldquo;non-employee
director&rdquo; within the meaning of Rule 16b-3 under the Exchange Act; and (ii) an &ldquo;outside director&rdquo; within the
meaning of Section 162(m) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Corporation&rdquo;</B>
means HNI Corporation, an Iowa corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Deferred
Share Unit&rdquo; </B>means a unit evidencing the right to receive a Share (or, to the extent provided under the applicable Award
Agreement, a cash payment equal to the Fair Market Value of a Share) at some future date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Deferred
Share Unit Award&rdquo; </B>means a right to receive Deferred Share Units granted under Section 7.2 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Disability
or Disabled,&rdquo;</B> with respect to a Participant, means that the Participant satisfies the requirements to receive long-term
disability benefits under the Corporation-sponsored group long-term disability plan in which the Participant participates without
regard to any waiting periods, or that the Participant has been determined by the Social Security Administration to be eligible
to receive Social Security disability benefits. A Participant shall not be considered to be Disabled unless the Participant furnishes
proof of the Disability to the Corporation in such form and manner as the Corporation may require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Dividend
Equivalent&rdquo; </B>means a right granted under Section 7.5 of the Plan with respect to Restricted Stock Units, Performance Shares
or Deferred Share Units to receive payment equivalent to the amount of any cash dividends paid by the Corporation to holders of
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Eligible
Employee&rdquo; </B>means any employee (including an officer) of the Corporation or a Subsidiary whom the Committee determines
to be an Eligible Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Exchange
Act&rdquo;</B> means the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Fair
Market Value&rdquo; </B>of a Share means the closing price of a Share as reported on the New York Stock Exchange on the date as
of which such value is being determined, or, if there are no reported transactions for such date, on the next preceding date for
which transactions were reported; provided, however, that if Fair Market Value for any date cannot be so determined, Fair Market
Value shall be determined by the Committee by whatever means or method as the Committee, in the good faith exercise of its discretion,
shall at such time deem reasonable and within the meaning of Code Section 409A and the regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;162(m)
Employee&rdquo; </B>means a &ldquo;covered employee&rdquo; of the Corporation within the meaning of Section 162(m)(3), or any subsequent
authority or any individual whom the Committee in its judgment determines is likely to be a &ldquo;covered employee.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Operating
Unit&rdquo; </B>means either: (i) the Corporation as a whole; (ii) an individual Subsidiary, division, store, or other business
unit of the Corporation; or (iii) a grouping of business units that employs the individuals that have been approved to participate
in the Plan by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Option&rdquo;</B>
means an option to purchase Shares granted under Section 6.1 of the Plan. All Options granted under the Plan shall be &ldquo;non-statutory
stock options,&rdquo; meaning that they are not intended to satisfy the requirements set forth in Section 422 of the Code to be
&ldquo;incentive stock options.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Participant&rdquo;
</B>means an Eligible Employee who is designated by the Committee to be granted an Award under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Performance
Measure&rdquo; </B>means the criteria and objectives established by the Committee, which shall be satisfied or met as a condition
to the exercisability, vesting or receipt of all or a portion of an Award. Notwithstanding the preceding sentence, in the case
of a 162(m) Employee, the Performance Measure shall be contingent on one or more of the following corporate-wide or Subsidiary,
division, or Operating Unit financial measures: (1) pre-tax profit or after-tax gross profit, (2) operating income, (3) operating
profit, (4) earnings before interest, taxes, depreciation and amortization, (5) income before taxes, (6) net income, (7) revenue,
(8) cash flow, (9) return on invested capital, (10) return on net assets, (11) pre-tax or after tax profit margin, (12) pre-tax
or after-tax profit growth, (13) revenue growth, (14) stock price, (15) economic profit and (16) total shareholder return. Each
goal described above may be expressed on an absolute or relative basis, may be based on or otherwise employ comparisons based on
current internal targets, the past performance of the Corporation (including the performance of one or more Subsidiaries, divisions,
or Operating Units) or the past or current performance of other companies, and in the case of earnings-based measures, may use
or employ comparisons relating to capital (including, but not limited to, the cost of capital), shareholders&rsquo; equity and/or
shares outstanding, or to assets or net assets. The applicable Performance Measures may be applied on a pre- or post-tax basis
and may be adjusted in accordance with Section 162(m) of the Code to include or exclude objectively determinable components of
any Performance Measure, including, without limitation, foreign exchange gains and losses, asset writedowns, acquisitions and divestitures,
change in fiscal year, unbudgeted capital expenditures, special charges such as restructuring or impairment charges, debt refinancing
costs, extraordinary or noncash items, unusual, infrequently occurring, nonrecurring or one-time events affecting the Corporation
or its financial statements or changes in law or accounting principles (&ldquo;Adjustment Events&rdquo;). In the sole discretion
of the Committee, unless such action would cause a grant to a 162(m) Employee to fail to qualify as qualified performance-based
compensation under Section 162(m) of the Code, the Committee may amend or adjust the Performance Measures or other terms and conditions
of an outstanding award in recognition of any Adjustment Events. With respect to participants who are not 162(m) Employees, the
Performance Measures may consist of any objective or subjective corporate-wide or subsidiary, division, operating unit or individual
measures, whether or not listed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Performance
Share Award&rdquo; </B>means a right granted under Section 7.3 of the Plan to receive Shares contingent upon the attainment of
specified Performance Measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Plan&rdquo;
</B>means the HNI Corporation 2017 Stock-Based Compensation Plan, as set forth herein, and as may be amended or restated from time
to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
<B>&ldquo;Restricted Stock&rdquo; </B>means Shares subject to forfeiture restrictions established by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Restricted
Stock Award&rdquo;</B> means a grant of Restricted Stock under Section 7.1 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Restricted
Stock Unit&rdquo; </B>means a unit evidencing the right to receive a Share (or, to the extent provided in the applicable Award
Agreement, a cash payment equal to the Fair Market Value of a Share) at some future date subject to forfeiture restrictions established
by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Restricted
Stock Unit Award&rdquo;</B> means a grant of Restricted Stock Units under Section 7.1 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(aa) </FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Retirement
Eligible Date&rdquo;</B> means the date on which the Participant has either attained age 65<I>, </I>or age 55 with ten years of
service with the Corporation or a Subsidiary. The Committee or, in the case of Participants other than the Chief Executive Officer,
the Chief Executive Officer, in its, his or her discretion, may waive or reduce the ten-year service requirement with respect to
a Participant. Notwithstanding the preceding sentence, in the case of an Award subject to Section 409A of the Code, any such waiver
or reduction that could affect the timing of payment of a Participant&rsquo;s Award shall occur no later than the end of the calendar
year preceding the year in which the Participant performs the services for which the Award is granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(bb) &nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>&ldquo;Stock
Appreciation Right&rdquo;</B> means a right to receive the appreciation in the value of a Share granted under Section 6.2 of the
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(cc) </FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Stock
Grant Award&rdquo;</B> means any right granted under Section 7.4 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(dd) </FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Share&rdquo;
</B>means a share of common stock, par value of $1.00, of the Corporation or any other securities or property as may become subject
to an Award pursuant to an adjustment made under Section 5.3 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(ee) </FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Subsidiary&rdquo;
</B>means any corporation, joint venture, partnership, limited liability company, unincorporated association or other entity in
which the Corporation has a direct or indirect ownership or other equity interest and directly or indirectly owns or controls 50
percent or more of the total combined voting or other decision-making power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
III</U></FONT><U><BR>
ADMINISTRATION</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Power
and Authority of the Committee</U>. </B>The Plan shall be administered by the Committee. Subject to the express provisions of the
Plan and to applicable law, the Committee shall have full power and authority to: (a) designate Participants; (b) determine the
type or types of Awards to be granted to each Participant; (c) determine the number of Shares to be covered by (or the method by
which payments or other rights are to be calculated in connection with) each Award; (d) determine the terms and conditions of any
Award or Award Agreement; (e) amend the terms and conditions of any Award or Award Agreement, provided, however, that, except as
otherwise provided in Section 5.3 hereof, the Committee shall not reprice, adjust or amend the exercise price of Options or the
grant price of Stock Appreciation Rights previously awarded to any Participant, whether through amendment, cancellation and replacement
grant, or any other means; (f) accelerate the exercisability of any Award or the lapse of restrictions relating to any Award; (g)
determine whether, to what extent, and under what circumstances Awards may be exercised in cash, Shares, other securities, other
Awards or other property, or canceled, forfeited or suspended; (h) determine whether, to what extent and under what circumstances
cash or Shares payable to a Participant with respect to an Award shall be deferred either automatically or at the election of the
holder of the Award or the Committee; (i) interpret and administer the Plan and any instrument or agreement, including any Award
Agreement, relating to the Plan; (j) establish, amend, suspend or waive such rules and regulations and appoint such agents as it
shall deem appropriate for the proper administration of the Plan; and (k) make any other determination and take any other action
that the Committee deems necessary or desirable for the administration of the Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise expressly
provided in the Plan, all designations, determinations, interpretations and other decisions under or with respect to the Plan or
any Award or Award Agreement shall be within the sole discretion of the Committee, may be made at any time and shall be final,
conclusive and binding upon any Participant, any holder or beneficiary of any Award or Award Agreement, and any employee of the
Corporation or any Subsidiary. A majority of the Committee shall constitute a quorum. The acts of the Committee shall be either:
(a) acts of a majority of the members of the Committee present at any meeting at which a quorum is present; or (b) acts approved
in writing by a majority of the members of the Committee without a meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Delegation</U>.</B>
The Committee may delegate some or all of its power and authority hereunder to the Chief Executive Officer or other executive officer
of the Corporation as the Committee deems appropriate; provided, however, that the Committee may not delegate its power and authority
with regard to: (a) the grant of an Award to any person who is a 162(m) Employee or who, in the Committee&rsquo;s judgment, is
likely to be a 162(m) Employee at any time during the period an Award hereunder to such employee would be outstanding; or (b) the
selection for participation in the Plan of an officer or other person subject to Section 16 of the Exchange Act or decisions concerning
the timing, pricing or amount of an Award to such an officer or other person.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Power
and Authority of the Board</U>.</B> Notwithstanding anything to the contrary contained herein, the Board may, at any time and from
time to time, without any further action of the Committee, exercise the powers and duties of the Committee under the Plan, unless
the exercise of such powers and duties by the Board would cause the Plan to fail to comply with the requirements of Section 162(m)
of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Liability
and Indemnification of Plan Administrators</U>.</B> No member of the Board or Committee, and neither the Chief Executive Officer
nor any other executive officer to whom the Committee delegates any of its power and authority hereunder, shall be liable for any
act, omission, interpretation, construction or determination made in connection with the Plan in good faith, and the members of
the Board and the Committee and the Chief Executive Officer or other executive officer shall be entitled to indemnification and
reimbursement by the Corporation in respect of any claim, loss, damage or expense (including attorneys&rsquo; fees) arising therefrom
to the full extent permitted by law, except as otherwise may be provided in the Corporation&rsquo;s Articles of Incorporation,
Bylaws, and under any directors&rsquo; and officers&rsquo; liability insurance that may be in effect from time to time.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
IV</U></FONT><U><BR>
ELIGIBILITY</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Participants in the
Plan shall consist of such Eligible Employees as the Committee in its sole discretion may select from time to time. The Committee&rsquo;s
selection of an Eligible Employee to be a Participant with respect to any Award shall not require the Committee to select such
Eligible Employee to receive any other Award at any time.</P>

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


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
V</U></FONT><U><BR>
SHARES AVAILABLE FOR AWARDS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Shares
Available</U>.</B> Subject to adjustment as provided in Section 5.3, the total number of Shares available for all grants of Awards
under the Plan shall be 3,400,000 Shares. Shares to be issued under the Plan will be authorized but unissued Shares or Shares that
have been reacquired by the Corporation and designated as treasury shares. Shares that are subject to Awards that terminate, lapse
or are cancelled or forfeited shall be available again for grant under the Plan. Shares that are tendered by a Participant or withheld
by the Corporation as full or partial payment to the Corporation of the purchase or exercise price relating to an Award or to satisfy
tax withholding obligations relating to an Award shall not be available for future grants under the Plan. In addition, if Stock
Appreciation Rights are settled in Shares upon exercise, the aggregate number of Shares subject to the Award rather than the number
of Shares actually issued upon exercise shall be counted against the number of Shares authorized under the Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Accounting
for Awards</U><I>.</I></B> For purposes of this Article 5, if an Award entitles the holder thereof to receive or purchase Shares,
the number of Shares covered by such Award or to which such Award relates shall be counted on the date of grant of such Award against
the aggregate number of Shares available for granting Awards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Adjustments</U>.</B>
In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase
or exchange of Shares or other securities of the Corporation, issuance of warrants or other rights to purchase Shares or other
securities of the Corporation or other similar corporate transaction or event, other than a regular cash dividend, affects the
Shares such that an adjustment is required to prevent dilution or enlargement of the benefits or potential benefits intended to
be made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of: (a)
the number and type of Shares (or other securities or other property) that thereafter may be made the subject of Awards, including
any per person or award limitations under the Plan; (b) the number and type of Shares (or other securities or other property) subject
to outstanding Awards; and (c) the purchase or exercise price with respect to any Award, provided such change is made in accordance
with the requirements of Treas. Reg. &sect; 1.409A-1(a)(5)(iii)(E)(4).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Award
Limitations</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Plan
Limitation on Restricted Stock, Restricted Stock Unit, Performance Share, Dividend Equivalent, Deferred Share Unit and Stock Grant
Awards</B>. No more than 1,500,000 Shares (subject to adjustment as provided in Section 5.3 of the Plan) shall be available under
the Plan for issuance pursuant to Restricted Stock, Restricted Stock Unit, Performance Share, Dividend Equivalent, Deferred Share
Unit and Stock Grant Awards; provided, however, that Shares subject to any such Awards that terminate, lapse or are cancelled or
forfeited shall again be available for grants of Restricted Stock, Restricted Stock Units, Performance Share Awards, Dividend Equivalents,
Deferred Share Unit Awards and Stock Grant Awards for purposes of this limitation on grants of such Awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Section
162(m) Limitation for Certain Types of Awards.</B> No Participant may be granted an Award or Awards under the Plan for more than
750,000 Shares (subject to adjustment as provided in Section 5.3 of the Plan) in the aggregate in any calendar year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
VI</U></FONT><U><BR>
OPTIONS AND STOCK APPRECIATION RIGHTS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Options</U>.
</B>The Committee may grant Options with the following terms and conditions and with such additional terms and conditions not inconsistent
with the provisions of the Plan as the Committee shall determine:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Exercise
Price. </B>The purchase price per Share purchasable under an Option shall be determined by the Committee and shall not be less
than 100% of the Fair Market Value of a Share on the date of grant of such Option; provided, however, that the Committee may designate
a per share exercise price below Fair Market Value on the date of grant if the Option is granted in substitution for a stock option
previously granted by an entity that is acquired by or merged with the Corporation or a Subsidiary and provided further than such
substitution is made in accordance with the requirements of Treas. Reg. &sect; 1.409A-1(a)(5)(iii)(E)(4).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Option
Term. </B>The term of each Option shall be fixed by the Committee, but shall not be longer than ten years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Time,
Method and Conditions of Exercise.</B> The Committee shall determine the time or times at which an Option may be exercised in whole
or in part including the applicable vesting period. The Committee shall also determine the method or methods by which, and the
form or forms (including, without limitation, cash or Shares having a Fair Market Value on the exercise date equal to the applicable
exercise price) in which, payment of the exercise price with respect thereto may be made or deemed to have been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Stock
Appreciation Rights</U>.</B> The Committee may grant Stock Appreciation Rights subject to the terms of the Plan and such additional
terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine including the applicable
vesting period. A Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to receive upon exercise
thereof the excess of: (a) the Fair Market Value of one Share on the date of exercise; over (b) the grant price of the Stock Appreciation
Right as specified by the Committee, which price shall not be less than 100% of the Fair Market Value of the Share on the date
of grant of the Stock Appreciation Right; provided, however, that the Committee may designate a per share grant price below Fair
Market Value on the date of grant if the Stock Appreciation Right is granted in substitution for a stock appreciation right previously
granted by an entity that is acquired by or merged with the Corporation or a Subsidiary and provided further than such substitution
is made in accordance with the requirements of Treas. Reg. &sect; 1.409A-1(a)(5)(iii)(E)(4). The term of the Stock Appreciation
Right shall be fixed by the Committee, but shall not be longer than ten years.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
VII</U></FONT><U><BR>
STOCK AWARDS</U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Restricted
Stock and Restricted Stock Units</U>.</B> The Committee may grant Awards of Restricted Stock and Restricted Stock Units with the
following terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as
the Committee shall determine:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Restrictions.</B>
Shares of Restricted Stock and Restricted Stock Units shall be subject to such restrictions as the Committee may impose (including,
without limitation, satisfaction of Performance Measures or a performance period and a restriction on the right to vote a Share
of Restricted Stock or the right to receive any dividend or other right or property with respect thereto), which restrictions may
lapse separately or in combination at such time or times, in such installments or otherwise, as the Committee may deem appropriate.
The minimum vesting period of such Awards subject to satisfaction of a Performance Measure shall be one year from the date of grant.
The Committee shall determine the vesting period of such Awards subject solely to satisfaction of a performance period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Forfeiture.</B>
Subject to Sections 8.5 and 10.1 or as otherwise determined by the Committee, upon a Participant&rsquo;s termination of employment
(in either case, as determined under criteria established by the Committee) during the applicable restriction period, all Shares
of Restricted Stock and all Restricted Stock Units held by the Participant at such time shall be forfeited and the Shares subject
to a Restricted Stock Award shall be reacquired by the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Issuance
and Delivery of Shares.</B> Any Restricted Stock granted under the Plan shall be issued at the time the Restricted Stock Award
is granted and may be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or issuance
of a stock certificate or certificates, which certificate or certificates shall be held by the Corporation. Such certificate or
certificates shall be registered in the name of the Participant and shall bear an appropriate legend referring to the restrictions
applicable to such Restricted Stock. Shares representing Restricted Stock that are no longer subject to restrictions shall be delivered
to the Participant promptly after the applicable restrictions lapse or are waived. No Shares shall be issued at the time an Award
of Restricted Stock Units is granted. Rather, the Shares shall be issued and delivered to the holder of the Restricted Stock Units
upon the lapse or waiver of the restrictions applicable to the Restricted Stock Units.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Deferred
Share Units</U>.</B> The Committee may grant Awards of Deferred Share Units subject to such terms and conditions not inconsistent
with the provisions of the Plan as the Committee shall determine. All Deferred Share Units shall be subject to a deferral period
of not less than one year, and may, in addition, be subject to such restrictions as the Committee may impose (including, without
limitation, satisfaction of Performance Measures or a performance period), which restrictions may lapse separately or in combination
at such time or times, in such installments or otherwise, as the Committee may deem appropriate. Deferred Share Units may be granted
without additional consideration or in consideration of a payment by the Participant that is less than the Fair Market Value per
Share at the date of grant. No Shares shall be issued at the time Deferred Share Units are granted. Rather, the Shares (or cash,
as the case may be) shall be issued and delivered upon expiration of the deferral period relating to the Deferred Share Units (subject
to the satisfaction of any applicable restrictions). Any Deferred Share Unit Award that is subject to Code Section 409A shall satisfy
the requirements of Code Section 409A. The minimum vesting period of such Awards subject to satisfaction of a Performance Measure
shall be one year from the date of grant.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Performance
Share Awards</U>. </B>The Committee may grant Performance Share Awards denominated in Shares that may be settled or payable in
Shares (including, without limitation, Restricted Stock or Restricted Stock Units) or, to the extent provided in the applicable
Award Agreement, cash. Performance Share Awards shall be conditioned solely on the achievement of one or more Performance Measures
specified by the Committee during such performance period as the Committee shall specify, but in no event shall the performance
period be less than one year from the date of grant. Settlement or payment of a Performance Share Award shall be made upon satisfaction
of the specified Performance Measures during the specified performance period.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Stock
Grant Awards</U>.</B> The Committee may grant Shares without restrictions thereon. Subject to the terms of the Plan, Stock Grant
Awards may have such terms and conditions as the Committee shall determine.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Dividend
Equivalents</U>.</B> The Committee may grant Dividend Equivalents under which a Participant granted a Restricted Stock Unit, Performance
Share or Deferred Share Unit Award under this Article 7 shall be entitled to receive payment (in cash, Shares, other securities,
other Awards or other property as determined in the discretion of the Committee) equivalent to the amount of any cash dividends
paid by the Corporation to holders of Shares with respect to a number of Shares determined by the Committee. Subject to the terms
of the Plan, such Dividend Equivalents may have such terms and conditions as the Committee shall determine. Notwithstanding the
foregoing, with respect to Dividend Equivalents on Performance Share Awards, such Dividend Equivalents shall only be settled or
paid when the underlying Performance Share Award is settled or paid pursuant to Section 7.3.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
VIII</U></FONT><U><BR>
GENERAL PROVISIONS GOVERNING AWARDS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Consideration
for Awards</U>. </B>Awards may be granted for no cash consideration or for any cash or other consideration as may be determined
by the Committee or required by applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Awards
Subject to Performance Measures</U>. </B>The Committee may, in its discretion, establish Performance Measures which shall be satisfied
or met as a condition to the grant or exercisability of an Award or portion thereof. Subject to the terms of the Plan and any applicable
Award Agreement, the Performance Measures to be achieved during any performance period, the length of any performance period, the
amount of any Award granted, the amount of any payment or transfer to be made pursuant to any such Award, and any other terms and
conditions applicable thereto shall be determined by the Committee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding anything
in the Plan to the contrary, in the case of an Award that is intended to qualify as performance-based compensation under Section
162(m) of the Code, a Performance Measure must be pre-established by the Committee, must be objective, and must state, in terms
of an objective formula or standard, the method for computing the amount of compensation payable if the Performance Measure is
attained. A Performance Measure is considered &ldquo;pre-established&rdquo; for purposes of this paragraph if it is established
in writing by the Committee no later than 90 days after the commencement of a Performance Period, provided that the outcome is
substantially uncertain at the time the Committee actually establishes the Performance Measure. However, in no event will a Performance
Measure be considered to be pre-established if it is established after 25 percent of a Performance Period has elapsed. A Performance
Measure is considered &ldquo;objective&rdquo; if a third party having knowledge of the relevant facts could determine whether the
Performance Measure is met. A formula or standard is considered &ldquo;objective&rdquo; if a third party having knowledge of the
relevant performance results could calculate the amount to be paid to the Participant. No Award to a 162(m) Employee based on the
satisfaction of Performance Measures shall be paid unless and until the Committee has certified that the Performance Measures for
the Performance Period have been satisfied.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Awards
May Be Granted Separately or Together</U>. </B> Awards may, in the discretion of the Committee, be granted either alone or in addition
to, in tandem with or in substitution for any other Award or any award granted under any other plan of the Corporation or any Subsidiary.
Awards granted in addition to or in tandem with other Awards or in addition to or in tandem with awards granted under any other
plan of the Corporation or any Subsidiary may be granted either at the same time as, or at a different time from, the grant of
such other Awards or awards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Forms
of Payment under Awards</U>.</B> Subject to the terms of the Plan and of any applicable Award Agreement, payments or transfers
to be made by the Corporation or a Subsidiary upon the grant, exercise or payment of an Award may be made in such form or forms
as the Committee shall determine (including, without limitation, cash, Shares, other securities, other Awards or other property,
or any combination thereof), and may be made in a single payment or transfer, in installments or on a deferred basis, in each case
in accordance with rules and procedures established by the Committee. Such rules and procedures may include, without limitation,
provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant or crediting of
Dividend Equivalents with respect to installment or deferred payments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Termination
of Employment</U>. </B>Except as otherwise provided in this Section 8.5 and Section 10.1, all of the terms relating to the exercise,
cancellation, forfeiture or other disposition of an Award granted under the Plan upon a termination of employment with the Corporation
of the holder of an Award shall be determined by the Committee. Such determination shall be made at the time of the grant of such
Award and shall be specified in the Award Agreement relating to the Award. Except as otherwise provided in the applicable Award
Agreement, (i) each Award granted under the Plan shall become fully exercisable and vested upon the Participant&rsquo;s death or
Disability provided such Award had not then otherwise expired and the Participant is employed by the Corporation on the date of
death or Disability, and (ii) in the case of an Award of an Option or Stock Appreciation Right, each such Award shall become fully
exercisable and vested upon the Participant&rsquo;s Retirement Eligible Date, provided such Award had not then otherwise expired
and the Participant is employed by the Corporation on the Retirement Eligible Date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Committee or the
Chief Executive Officer shall have discretion to accelerate the vesting of any Award. Notwithstanding the preceding sentence, in
the event the Chief Executive Officer is a Participant, for any Award granted to the Chief Executive Officer, only the Committee
shall have discretion to accelerate the vesting of any such Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Limits
on Transfer of Awards</U>.</B> Except as otherwise provided by the Committee or the terms of the Plan, no Award and no right under
any Award shall be transferable by a Participant other than by will or by the laws of descent and distribution. The Committee may
establish procedures as it deems appropriate for a Participant to designate an individual, trust or other entity as beneficiary
or beneficiaries to exercise the rights of the Participant and receive any property distributable with respect to any Award in
the event of the Participant&rsquo;s death. The Committee, in its discretion and subject to such additional terms and conditions
as it determines, may permit a Participant to transfer an Option to any &ldquo;family member&rdquo; (as such term is defined in
the General Instructions to Form S-8 (or any successor to such Instructions or such Form) under the Securities Act of 1933, as
amended) at any time that such Participant holds such Option, provided that: (a) such transfer may not be for value (<I>i.e.</I>,
the transferor may not receive any consideration therefor) and the family member may not make any subsequent transfer other than
by will or by the laws of descent and distribution; (b) no such transfer shall be effective unless reasonable prior notice thereof
has been delivered to the Corporation and such transfer is thereafter effected subject to the specific authorization of, and in
accordance with any terms and conditions made applicable to by, the Committee or the Board; and (c) the transferee is subject to
the same terms and conditions hereunder as the Participant. Each Award or right under an Award shall be exercisable during the
Participant&rsquo;s lifetime only by the Participant (except as provided herein or in an Award Agreement or amendment thereto)
or, if permissible under applicable law, by the Participant&rsquo;s guardian or legal representative. No Award or right under any
Award may be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance
thereof shall be void and unenforceable against the Corporation or any Subsidiary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Restrictions;
Securities Exchange Listing</U>.</B> All Shares or other securities delivered under the Plan pursuant to any Award or the exercise
thereof shall be subject to such restrictions as the Committee may deem advisable under the Plan, applicable federal or state securities
laws and regulatory requirements, and the Committee may cause appropriate entries to be made or legends to be placed on the certificates
for such Shares or other securities to reflect such restrictions. If the Shares or other securities are traded on a securities
exchange, the Corporation shall not be required to deliver any Shares or other securities covered by an Award unless and until
such Shares or other securities have been admitted for trading on such securities exchange.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Tax
Withholding</U>.</B> The Corporation may take such action as it deems appropriate to withhold or collect from a Participant the
applicable federal, state, local or foreign payroll, withholding, income or other taxes that are required to be withheld or collected
by the Corporation upon the grant, exercise, vesting or payment of an Award. The Committee may require the Corporation to withhold
Shares having a Fair Market Value equal to the amount necessary to satisfy the Corporation&rsquo;s withholding requirements upon
the grant, exercise, vesting or payment of an Award from Shares that otherwise would have been delivered to a Participant. The
Committee may, subject to any terms and conditions that the Committee may adopt, permit a Participant to elect to pay all or a
portion of such withholding taxes by: (a) having the Corporation withhold Shares otherwise to be delivered upon the grant, exercise,
vesting or payment of an Award with a Fair Market Value equal to the amount of such taxes; (b) delivering to the Corporation Shares
other than Shares issuable upon the grant, exercise, vesting or payment of an Award with a Fair Market Value equal to the amount
of such taxes; or (c) paying cash.</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
IX</U></FONT><U><BR>
AMENDMENT AND TERMINATION; CORRECTIONS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Amendments
to the Plan</U>. </B>The Board may amend, alter, suspend, discontinue or terminate the Plan; provided, however, that, notwithstanding
any other provision of the Plan or any Award Agreement, prior approval of the stockholders of the Corporation shall be required
for any amendment to the Plan that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>requires
stockholder approval under the rules or regulations of the Securities and Exchange Commission, the New York Stock Exchange, any
other securities exchange or the National Association of Securities Dealers, Inc. that are applicable to the Corporation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>increases
the number of Shares authorized under the Plan as specified in Section 5.1 the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>increases
the number of Shares subject to the limitations contained in Section 5.4 of the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>permits
repricing of Options or Stock Appreciation Rights which is prohibited by Section 3.1(e) of the Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>permits
the award of Options or Stock Appreciation Rights at a price less than 100% of the Fair Market Value of a Share on the date of
grant of such Option or Stock Appreciation Right, contrary to the provisions of Sections 6.1(a) and 6.2 of the Plan; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>would
cause an exemption to Section 162(m) of the Code to become inapplicable with respect to the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Amendments
to Awards</U>. </B>Subject to the provisions of the Plan, the Committee may waive any conditions of or rights of the Corporation
under any outstanding Award, prospectively or retroactively. Except as otherwise provided in the Plan, the Committee may amend,
alter, suspend, discontinue or terminate any outstanding Award, prospectively or retroactively, but no such action may adversely
affect the rights of the holder of such Award in any material respect without the consent of the holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Correction
of Defects, Omissions and Inconsistencies</U>. </B>The Committee may correct any defect, supply any omission or reconcile any inconsistency
in the Plan or in any Award or Award Agreement in the manner and to the extent it shall deem desirable to implement or maintain
the effectiveness of the Plan.</P>

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

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
X</U></FONT><U><BR>
CHANGE IN CONTROL</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Consequences
of Change in Control</U>. </B>Notwithstanding any provision in the Plan or any Award Agreement to the contrary:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
the event of a Change in Control described in Section 10.2(c) or the approval by the holders of Shares of a plan of complete liquidation
or dissolution of the Corporation, in connection with which the holders of Shares receive shares of common stock that are registered
under Section 12 of the Exchange Act: (i) all outstanding Awards shall become immediately vested and all Options and Stock Appreciation
Rights exercisable in full, with any applicable Performance Measures deemed satisfied at the maximum level; and (ii) there shall
be substituted for each Share available under the Plan, whether or not then subject to an outstanding Award, the number and class
of shares into which each outstanding Share shall be converted pursuant to such Change in Control. In the event of any such substitution,
the purchase price per share in the case of an Option and the base price in the case of a Stock Appreciation Right shall be appropriately
adjusted by the Committee, such adjustments to be made in the case of outstanding Options and Stock Appreciation Rights without
an increase in the aggregate purchase price or base price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
the event of a Change in Control described in Section 10.2(a) or (b), or in the event of a Change in Control pursuant to Section
10.2(c) or the approval by the holders of Shares of a plan of complete liquidation or dissolution of the Corporation, in connection
with which the holders of Shares receive consideration other than shares of common stock that are registered under Section 12 of
the Exchange Act, the Committee in its discretion may require that each outstanding Award shall be surrendered to the Corporation
by the holder thereof, and each such Award shall immediately be cancelled by the Corporation, and the holder shall receive, within
ten days of the occurrence of a Change in Control pursuant to Section 10.2(a) or (b), below, or within ten days of the approval
of the holders of Shares contemplated by Section 10.2(c) or complete liquidation or dissolution of the Corporation, a cash payment
from the Corporation in an amount equal to: (i) in the case of an Option, the number of Shares subject to the Option, multiplied
by the excess, if any, of the Fair Market Value of a Share on the date of the Change in Control, over the purchase price per Share
subject to the Option; (ii) in the case of a Stock Appreciation Right, the number of Shares then subject to the Stock Appreciation
Right, multiplied by the excess, if any, of the Fair Market Value of a Share on the date of the Change in Control, over the base
price of the Stock Appreciation Right; (iii) in the case of a Restricted Stock Award, Restricted Stock Unit Award, Performance
Share Award or Deferred Share Unit Award, the number of Shares then subject to such Award, multiplied by the Fair Market Value
of a Share on the date of the Change in Control. In the event of a Change in Control, each tandem Stock Appreciation Right shall
be surrendered by the holder thereof and shall be cancelled simultaneously with the cancellation of the related Option. The Corporation
may, but is not required to, cooperate with any person who is subject to Section 16 of the Exchange Act to assure that any cash
payment in accordance with the foregoing to such person is made in compliance with Section 16 and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
anything in Section 10.1(b), if an amount becomes payable with respect to an Award upon a Change in Control pursuant to Section
10.1(b), the amount is subject to Section 409A of the Code, and the Change in Control does not constitute a &ldquo;change in the
ownership or effective control&rdquo; or a &ldquo;change in the ownership of a substantial portion of the assets&rdquo; of the
Corporation within the meaning of Section 409(a)(2)(A)(iv) of the Code (applying the minimum standards set forth in the accompanying
Treasury Regulations for a change in control to occur), then the amount shall not be paid upon the Change in Control, but shall
instead be paid when payment otherwise would have been made (absent Section 10.1(b)), provided the payment is made at a &ldquo;time&rdquo;
or according to a &ldquo;fixed schedule&rdquo; consistent with Treas. Reg. &sect;1.409A-3(a)(4).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Definition
of Change in Control</U>. </B>&ldquo;Change in Control&rdquo; shall mean:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
acquisition by any individual, entity or group (with the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (a &ldquo;Person&rdquo;)
of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either: (i) the
then outstanding Shares (the &ldquo;Outstanding Corporation Common Stock&rdquo;); or (ii) the combined voting power of the then
outstanding voting securities of the Corporation entitled to vote generally in the election of directors (the &ldquo;Outstanding
Corporation Voting Securities&rdquo;); provided, however, that for purposes of this subsection (a), the following acquisitions
shall not constitute a Change in Control: (A) any acquisition directly from the Corporation, (B) any acquisition by the Corporation,
(C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Corporation or any corporation
controlled by the Corporation, or (D) any acquisition by any corporation pursuant to a transaction which complies with clauses
(i), (ii) and (iii) of subsection (c) of this Section 10.2; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>individuals
who, as of the Effective Date of the Plan, constitute the Board (the &ldquo;Incumbent Board&rdquo;) cease for any reason to constitute
a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election,
or nomination for election by the Corporation&rsquo;s shareholders, was approved by a vote of a majority of the directors then
comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding,
for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election
contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents
by or on behalf of a Person other than the Board; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6in; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>consummation
of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Corporation
(a &ldquo;Business Combination&rdquo;), in each case, unless following such Business Combination: (i) all or substantially all
of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Corporation Common Stock and Outstanding
Corporation Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, 50% or more
of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities
entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination
(including, without limitation, a corporation which as a result of such transaction owns the Corporation or all or substantially
all of the Corporation&rsquo;s assets either directly or through one or more subsidiaries) in substantially the same proportions
as their ownership immediately prior to such Business Combination of the Outstanding Corporation Common Stock and Outstanding Corporation
Voting Securities, as the case may be; (ii) no Person (excluding any corporation resulting from such Business Combination or any
employee benefit plan (or related trust) of the Corporation or such corporation resulting from such Business Combination) beneficially
owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting
from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except
to the extent that such ownership existed prior to the Business Combination; and (iii) at least a majority of the members of the
board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time
of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination.</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
XI</U></FONT><U><BR>
GENERAL PROVISIONS GOVERNING PLAN</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>No
Rights to Awards</U>.</B> No Eligible Employee, Participant or other person shall have any claim to be granted any Award under
the Plan, and there is no obligation for uniformity of treatment of Eligible Employees, Participants or holders or beneficiaries
of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to any Participant or with respect
to different Participants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Rights
as Stockholder</U>.</B> No person shall have any right as a stockholder of the Corporation with respect to any Shares or other
equity security of the Corporation which is subject to an Award hereunder unless and until such person becomes a stockholder of
record with respect to such Shares or equity security.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Governing
Law</U>.</B> The Plan, each Award hereunder and the related Award Agreement, and all determinations made and actions taken pursuant
thereto, to the extent not otherwise governed by the Code or the laws of the United States, shall be governed by the laws of the
State of Iowa and construed in accordance therewith without giving effect to principles of conflicts of laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Award
Agreements</U>. </B>No Participant shall have rights under an Award granted to such Participant unless and until an Award Agreement
shall have been duly executed on behalf of the Corporation and, if requested by the Corporation, signed by the Participant.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>No
Limit on Other Compensation Plans or Arrangements</U>. </B>Nothing contained in the Plan shall prevent the Corporation or any Subsidiary
from adopting or continuing in effect other or additional compensation plans or arrangements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>No
Right to Employment</U>.</B> The grant of an Award shall not be construed as giving a Participant the right to be retained as an
employee of the Corporation or any Subsidiary, nor will it affect in any way the right of the Corporation or a Subsidiary to terminate
a Participant&rsquo;s employment at any time, with or without cause. In addition, the Corporation or a Subsidiary may at any time
dismiss a Participant from employment free from any liability or any claim under the Plan or any Award, unless otherwise expressly
provided in the Plan or in any Award Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Severability</U>.
</B>If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction
or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or
deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of
the Committee, materially altering the purpose or intent of the Plan or the Award, such provision shall be stricken as to such
jurisdiction or Award, and the remainder of the Plan or any such Award shall remain in full force and effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>No
Trust or Fund Created</U>.</B> Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of
any kind or a fiduciary relationship between the Corporation or any Subsidiary and a Participant or any other person. To the extent
that any person acquires a right to receive payments from the Corporation or a Subsidiary pursuant to an Award, such right shall
be no greater than the right of any unsecured general creditor of the Corporation or the Subsidiary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Securities
Matters</U>.</B> The Corporation shall not be required to deliver any Shares until the requirements of any federal or state securities
or other laws, rules or regulations (including the rules of any securities exchange) as may be determined by the Corporation to
be applicable are satisfied.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>No
Fractional Shares</U>.</B> No fractional shares of Stock shall be issued or delivered pursuant to the Plan. Any fractional share
otherwise payable under the Plan shall be settled in the form of cash.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Headings</U>.
</B>Headings are given to the Articles, Sections and Subsections of the Plan solely as a convenience to facilitate reference. Such
headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision
thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Nontransferability</U>.</B>
Except as set forth in Section 8.6, no Award or other benefit payable at any time under the Plan will be subject in any manner
to alienation, sale, transfer, assignment, pledge, levy, attachment, or encumbrance of any kind.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>No
Other Agreements</U>.</B> The terms and conditions set forth herein constitute the entire understanding of the Corporation, the
Subsidiaries and the Participants with respect to the matters addressed herein.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Incapacity</U>.</B>
In the event that any Participant is unable to care for his or her affairs because of illness or accident, any payment due may
be paid to the Participant&rsquo;s spouse, parent, brother, sister, adult child or other person deemed by the Corporation to have
incurred expenses for the care of the Participant, unless a duly qualified guardian or other legal representative has been appointed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Release</U>.</B>
Any payment of benefits to or for the benefit of a Participant that is made in good faith by the Corporation in accordance with
the Corporation&rsquo;s interpretation of its obligations hereunder, shall be in full satisfaction of all claims against the Corporation
and all Subsidiaries for benefits under the Plan to the extent of such payment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Notices</U>.</B>
Any notice permitted or required under the Plan shall be in writing and shall be hand-delivered or sent, postage prepaid, by first
class mail, or by certified or registered mail with return receipt requested, to the Committee, if to the Corporation, or to the
address last shown on the records of the Corporation, if to a Participant. Any such notice shall be effective as of the date of
hand-delivery or mailing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Successors</U>.</B>
All obligations of the Corporation under the Plan shall be binding upon and inure to the benefit of any successor to the Corporation,
whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of
all or substantially all of the business and or assets of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Awards
Subject to Clawback</U>. </B>The Awards granted under this Plan and any cash payment or Shares delivered pursuant to such an Award
are subject to forfeiture, recovery by the Corporation or other action pursuant to the applicable Award Agreement or any clawback
or recoupment policy which the Corporation may adopt from time to time, including without limitation any such policy which the
Corporation may be required to adopt under the Dodd-Frank Wall Street Reform and Consumer Protection Act and implementing rules
and regulations thereunder, or as otherwise required by law.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="color: #010000"><U>ARTICLE
XII</U></FONT><U><BR>
EFFECTIVE DATE AND TERM OF PLAN</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan
became effective on [May 9, 2017] (the &ldquo;Effective Date&rdquo;), the date it was approved by the shareholders of the
Corporation at the Corporation&rsquo;s annual meeting of shareholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan shall terminate
at midnight on May 9, 2027, unless terminated before then by the Board. Awards may be granted under the Plan until the Plan terminates
or until all Shares available for Awards under the Plan have been purchased or acquired. Notwithstanding the preceding sentence,
the Plan shall remain in effect for purposes of administering outstanding Awards as long as the Awards are outstanding.</P>

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

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

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

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




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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2017
EQUITY PLAN</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR
NON-EMPLOYEE DIRECTORS OF</B></FONT></P>

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

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

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE I PURPOSES; EFFECT ON PRIOR
    PLANS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></TD>
    <TD STYLE="width: 85%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purpose</FONT></TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effect on Prior Plans</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE II DEFINITIONS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE III ADMINISTRATION</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Administration by the Board; Delegation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Administrative Powers</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Professional Assistance; Good Faith Actions</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liability and Indemnification of Board Members</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE IV ELIGIBILITY</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE V SHARES AVAILABLE FOR AWARDS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares Available</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting for Awards</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjustments</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE VI OPTIONS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Options</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise Price</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Option Term</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time, Method and Conditions of Exercise</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE VII STOCK AWARDS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted Stock</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Grant Awards</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional Cash Award to Offset Tax</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE VIII GENERAL PROVISIONS
    GOVERNING AWARDS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consideration for Awards</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Awards Subject to Performance Measures</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Awards May Be Granted Separately or Together</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forms of Payment under Awards</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Separation from Service; Vesting</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.6</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limits on Transfer of Awards</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restrictions; Securities Exchange Listing</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE IX ELECTION TO RECEIVE FEES
    IN SHARES</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Election to Receive Fees in Shares</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Participation Agreement</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance of Shares</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holding Period</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE X AMENDMENT AND TERMINATION;
    CORRECTIONS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="width: 85%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendments to the Plan</FONT></TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendments to Awards</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Correction of Defects, Omissions and Inconsistencies</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE XI GENERAL PROVISIONS GOVERNING
    PLAN</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Rights to Awards</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rights as Stockholder</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Governing Law</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Award Agreements</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Limit on Compensation Plans or Arrangements</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.6</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Right to Remain a Director</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Severability</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.8</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Trust or Fund Created</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.9</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities Matters</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.10</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Fractional Shares</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.11</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Headings</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.12</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nontransferability</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.13</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Other Agreements</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.14</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incapacity</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.15</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Release</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.16</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notices</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.17</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Successors</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.18</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Awards Subject to Clawback</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE XII EFFECTIVE DATE AND TERM
    OF PLAN</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2017
EQUITY PLAN</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR
NON-EMPLOYEE DIRECTORS OF</B></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board of Directors of HNI Corporation, an Iowa corporation (the &ldquo;Corporation&rdquo;), adopted the 2017 Equity Plan for Non-Employee
Directors of HNI Corporation (the &ldquo;Plan&rdquo;) on February 15, 2017, and the shareholders of the Corporation approved the
Plan on [May 9, 2017].</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
I</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>PURPOSES; EFFECT ON PRIOR PLANS</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Purpose</U>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The purpose of the Plan is to aid the Corporation in recruiting
and retaining non-employee directors (&ldquo;Outside Directors&rdquo;) capable of assuring the future success of the Corporation
through the grant of Awards of stock-based compensation and the opportunity to receive fees in the form of stock of the Corporation.
The Corporation expects the Awards and opportunities for stock ownership in the Corporation will provide incentives to Outside
Directors to exert their best efforts for the success of the Corporation&rsquo;s business and thereby align the interests of Outside
Directors with those of the Corporation&rsquo;s stockholders.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Effect
on Prior Plans</U>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">From and after the date of stockholder approval
of the Plan, no awards shall be granted under the 2007 Equity Plan for Non-Employee Directors of HNI Corporation, as amended,
but all outstanding awards previously granted under that plan shall remain outstanding in accordance with their terms.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
II</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>DEFINITIONS</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition to other terms that may be defined elsewhere herein, wherever the following terms are used in this Plan with initial
capital letters, they shall have the meanings specified below, unless the context clearly indicates otherwise.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Award&rdquo;
means an Option, Restricted Stock or Stock Grant Award granted under the Plan. The term &ldquo;Award&rdquo; shall also mean Shares
issued to a Participant pursuant to a Participation Agreement under Article 9 of the Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Award
Agreement&rdquo; means any written agreement, contract or other instrument or document evidencing an Award granted under the Plan.
Each Award Agreement shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not
inconsistent with the Plan) determined by the Board.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Board&rdquo;
means the Board of Directors of the Corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Chairman&rdquo;
means the Chairman of the Board.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Change
in Control&rdquo; means:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
acquisition by any individual, entity or group (with the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act
of 1934, as amended (the &ldquo;Exchange Act&rdquo;)) (a &ldquo;Person&rdquo;) of beneficial ownership (within the meaning of
Rule 13d-3 promulgated under the Exchange Act) of 35% or more of the combined voting power of the then outstanding voting securities
of the Corporation entitled to vote generally in the election of directors (the &ldquo;Outstanding Corporation Voting Securities&rdquo;);
provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change in Control:
(I) any acquisition directly from the Corporation; (II) any acquisition by the Corporation; (III) any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the Corporation or any corporation controlled by the Corporation; or
(IV) any acquisition by any corporation pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection (iii)
of this paragraph; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;individuals
who, as of the date hereof, constitute the Board (the &ldquo;Incumbent Board&rdquo;) cease during a 12-month period for any reason
to constitute a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof
whose election, or nomination for election by the Corporation&rsquo;s shareholders, was approved by a vote of a majority of the
directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board,
but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened
election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Board; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;consummation
of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Corporation
(a &ldquo;Business Combination&rdquo;), in each case, unless, following such Business Combination: (A) all or substantially all
of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Corporation Voting Securities
immediately prior to such Business Combination beneficially own, directly or indirectly, 50% or more of, respectively, the then
outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally
in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without
limitation, a corporation which as a result of such transaction owns the Corporation or all or substantially all of the Corporation&rsquo;s
assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately
prior to such Business Combination of the Outstanding Corporation Voting Securities; (B) no Person (excluding any corporation
resulting from such Business Combination or any employee benefit plan (or related trust) of the Corporation or such corporation
resulting from such Business Combination) beneficially owns, directly or indirectly, 35% or more of the combined voting power
of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business
Combination; and (C) at least a majority of the members of the board of directors of the corporation resulting from such Business
Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the
Board, providing for such Business Combination, if such change in the members of the Board was not indorsed by a majority of the
members of the Incumbent Board.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Code&rdquo;
means the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Corporation&rdquo;
means HNI Corporation, an Iowa corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Director&rdquo;
means a member of the Board.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Disability,&rdquo;
of a Director, means the inability of the Director to perform his or her services as a Director for six months.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Exchange
Act&rdquo; means the Securities Exchange Act of 1934, as amended.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Fair
Market Value,&rdquo; of a Share, means the closing price of a Share as reported on the New York Stock Exchange on the date as
of which such value is being determined, or, if there are no reported transactions for such date, on the next preceding date for
which transactions were reported; provided, however, if Fair Market Value for any date cannot be so determined, Fair Market Value
shall be determined by the Board by whatever means or method as the Board, in the good faith exercise of its discretion, shall
at such time deem reasonable and within the meaning of Code Section 409A and the regulations thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Fees,&rdquo;
of an Outside Director, means the Outside Director&rsquo;s annual retainer, meeting fees and any other amounts payable to the
Outside Director by the Corporation for services performed as an Outside Director, excluding any amounts distributable under the
Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Option&rdquo;
means an option granted under Article 6 of the Plan to purchase Shares. All Options granted under the Plan shall be &ldquo;non-statutory
stock options,&rdquo; meaning they are not intended to satisfy the requirements set forth in Section 422 of the Code to be &ldquo;incentive
stock options.&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Outside
Director&rdquo; means a member of the Board who is not an employee of the Corporation or a Subsidiary.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Participant&rdquo;
means an Outside Director who receives an Award under the Plan, including an Outside Director who enters into a Participation
Agreement pursuant to Section 9.2 of the Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Participation
Agreement&rdquo; means the agreement entered into by an Outside Director pursuant to Section 9.2 of the Plan under which the Outside
Director elects to receive Fees in the form of Shares rather than cash.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Performance
Measure&rdquo; means any criteria and objectives established by the Board, which shall be satisfied or met as a condition to the
exercisability, vesting or receipt of all or a portion of an Award. Such criteria and objectives may include, but are not limited
to, the attainment by a Share of a specified Fair Market Value for a specified period of time, earnings per Share, return to stockholders
(including dividends), return on equity, earnings of the Corporation, revenues, market share, cash flow or cost reduction goals
or any combination of the foregoing and any other criteria and objectives established by the Board. In the sole discretion of
the Board, the Board may amend or adjust the Performance Measures or other terms and conditions of an outstanding Award in recognition
of unusual, nonrecurring or infrequently occurring events affecting the Corporation or its financial statements or changes in
law or accounting principles.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Plan&rdquo;
means the &ldquo;2017 Equity Plan for Non-Employee Directors of HNI Corporation,&rdquo; as set forth herein and as may be amended
or restated from time to time.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Restricted
Stock&rdquo; means Shares subject to forfeiture restrictions established by the Board.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Restricted
Stock Award&rdquo; means a grant of Restricted Stock under Section 7.1 of the Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Retirement
Eligible Date,&rdquo; of a Participant, means the date on which the Participant attains age 55 with at least ten years of service
as a Board member. The Board or, in the case of a Participant other than the Chairman, the Chairman, in its, his or her discretion,
may waive or reduce the ten-year service requirement with respect to a Participant; provided if any such waiver or reduction applies
to a benefit subject to Section 409A of the Code, such waiver or reduction is made before the Outside Director performs the services
for which the benefit is payable.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Separation from Service,&rdquo; with
respect to a Participant, has the meaning set forth in Treasury Regulation Section 1.409A-1(h) or any subsequent authority.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Share&rdquo;
means a Share of common stock, par value of $1.00, of the Corporation or any other securities or property as may become subject
to an Award pursuant to an adjustment made under Section 5.3 of the Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Stock
Grant Award&rdquo; means any right granted under Section 7.2 of the Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Subsidiary&rdquo;
means any corporation, joint venture, partnership, limited liability company, unincorporated association or other entity in which
the Corporation has a direct or indirect ownership or other equity interest and directly or indirectly owns or controls 50 percent
or more of the total combined voting or other decision-making power.</FONT></P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
III</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>ADMINISTRATION</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Administration
by the Board; Delegation</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The Plan shall be administered
by the Board, which may from time to time delegate all or any part of its authority under the Plan to a committee or subcommittee
of not less than two Directors appointed by the Board who are &ldquo;non-employee directors&rdquo; within the meaning of that
term as defined in Rule 16b-3 under the Exchange Act. To the extent of any delegation by the Board under the Plan, references
in the Plan to the Board shall also refer to the applicable committee or subcommittee. The majority of any such committee or subcommittee
shall constitute a quorum, and the action of a majority of its members present at any meeting at which a quorum is present, or
acts unanimously approved in writing, shall be the acts of such committee or subcommittee.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Administrative
Powers</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The Board shall have the power and authority to
interpret the Plan and any Award or Award Agreement entered into under the Plan, to establish, amend, waive and rescind any rules
and regulations relating to the administration of the Plan (including without limitation, the manner in which Participants shall
make elections pursuant to Section 9.2 of the Plan and the terms of a Participation Agreement), to determine the terms and provisions
of the Award Agreements (not inconsistent with the terms of the Plan), and to make all other determinations necessary or advisable
for the administration of the Plan. The determinations of the Board in the administration of the Plan, as described in the Plan,
shall be final, binding and conclusive.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Professional
Assistance; Good Faith Actions</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> All expenses and liabilities
members of the Board incur in connection with the administration of the Plan shall be borne by the Corporation. The Board may
employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Board, the Corporation and the Corporation&rsquo;s
officers and Directors shall be entitled to rely upon the advice, opinions or valuations of any such persons.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Liability
and Indemnification of Board Members</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> No member of the Board
shall be liable for any act, omission, interpretation, construction or determination made in connection with the Plan in good
faith, and the members of the Board shall be entitled to indemnification and reimbursement by the Corporation in respect of any
claim, loss, damage or expense (including attorneys&rsquo; fees) arising therefrom to the full extent permitted by law, except
as otherwise may be provided in the Corporation&rsquo;s Articles of Incorporation, By-laws and under any directors&rsquo; and officers&rsquo;
liability insurance that may be in effect from time to time.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
IV</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>ELIGIBILITY</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Participation
in the Plan shall be limited to Outside Directors.</FONT></P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
V</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>SHARES AVAILABLE FOR AWARDS</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Shares
Available</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> Subject to adjustment as provided in Section
5.3, the total number of Shares available for all grants of Awards under the Plan shall be 300,000 Shares. Shares to be issued
under the Plan will be authorized but unissued Shares or Shares that have been reacquired by the Corporation and designated as
treasury shares. Shares subject to Awards that terminate, lapse or are cancelled or forfeited shall be available again for grant
under the Plan. Shares tendered by a Participant or withheld by the Corporation as full or partial payment to the Corporation
of the purchase or exercise price relating to an Award shall not be available for future grants under the Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Accounting
for Awards</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> For purposes of this Article 5, if an Award
entitles the holder thereof to receive or purchase Shares, the number of Shares covered by such Award or to which such Award relates
shall be counted on the date of grant of such Award against the aggregate number of Shares available for granting Awards. For
purposes hereof, an Award of Shares pursuant to a Participation Agreement under Article 9 shall be deemed to be granted on the
date the Shares are issued to the Participant.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Adjustments</U>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In the event any dividend or other distribution (whether in
the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization,
merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Shares or other securities of the Corporation,
issuance of warrants or other rights to purchase Shares or other securities of the Corporation or other similar corporate transaction
or event, other than a regular cash dividend, affects the Shares such that an adjustment is required in order to prevent dilution
or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Board shall, in such
manner as it may deem equitable, adjust any or all of: (i) the number and type of Shares (or other securities or other property)
that thereafter may be made the subject of Awards; (ii) the number and type of Shares (or other securities or other property)
subject to outstanding Awards; (iii) the purchase or exercise price with respect to any Award; and (iv) the number and type of
Shares (or other securities or other property) payable under a Participation Agreement pursuant to Article 9, provided such change
is made in accordance with the requirements of Treas. Reg. &sect; 1.409A-1(a)(5)(iii)(E)(4).</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
VI</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>OPTIONS</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Options</U>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Board may grant Options with the terms and conditions set
forth in this Article 6 and with such additional terms and conditions not inconsistent with the provisions of the Plan as the
Board shall determine.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exercise
Price</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The purchase price per Share purchasable under an
Option shall be determined by the Board and shall not be less than 100% of the Fair Market Value of a Share on the date of grant
of such Option.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Option
Term</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The term of each Option shall be fixed by the Board
but shall not be longer than ten years.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Time,
Method and Conditions of Exercise</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The Board shall determine
the time or times at which an Option may be exercised in whole or in part, the method or methods by which, and the form or forms
(including, without limitation, cash or Shares having a Fair Market Value on the exercise date equal to the applicable exercise
price) in which, payment of the exercise price with respect thereto may be made or deemed to have been made.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
VII</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>STOCK AWARDS</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Restricted
Stock</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The Board may grant Awards of Restricted Stock with
the following terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan
as the Board shall determine:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restrictions.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Shares of Restricted Stock shall be subject to such restrictions
as the Board may impose (including, without limitation, satisfaction of Performance Measures or a performance period and a restriction
on the right to vote a Share of Restricted Stock or the right to receive any dividend or other right or property with respect
thereto), which restrictions may lapse separately or in combination at such time or times, in such installments or otherwise,
as the Board may deem appropriate. The minimum vesting period of such Awards shall be one year from the date of grant.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeiture.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subject to Sections 8.5 or as otherwise determined by the Board,
upon a Participant&rsquo;s Separation from Service during the applicable restriction period, all Shares of Restricted Stock held
by the Participant at such time shall be forfeited and reacquired by the Corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance
and Delivery of Shares.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> Any Restricted Stock granted under the
Plan shall be issued at the time the Restricted Stock Award is granted and may be evidenced in such manner as the Board may deem
appropriate, including book-entry registration or issuance of a stock certificate or certificates, which certificate or certificates
shall be held by the Corporation. Such certificate or certificates shall be registered in the name of the Participant and shall
bear an appropriate legend referring to the restrictions applicable to such Restricted Stock. Shares representing Restricted Stock
no longer subject to restrictions shall be delivered to the Participant promptly after the applicable restrictions lapse or are
waived.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restrictions
on Dividends. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Any Award of Restricted Stock may require any
or all dividends or other distributions paid on the Shares during the period of restriction be automatically sequestered and reinvested
on an immediate or deferred basis in additional Shares, in which case such additional Shares shall be subject to the same restrictions
as the underlying Restricted Stock or such other restrictions as the Board may determine.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Stock
Grant Awards</U>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The Board may grant Shares without restrictions
thereon. Subject to the terms of the Plan, Stock Grant Awards may have such terms and conditions as the Board shall determine.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Additional
Cash Award to Offset Tax</U>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Board may provide, at or after
the time of grant of a Restricted Stock Award or Stock Grant Award, for the payment of a cash award to the Participant intended
to offset the amount of tax the Participant may incur in connection with such Award, including, without limitation, tax on the
receipt of such cash award; provided, however, any such payment shall be made no later than by the end of the Participant&rsquo;s
taxable year next following the Participant&rsquo;s taxable year in which the related taxes are remitted to the taxing authority.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
VIII</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>GENERAL PROVISIONS GOVERNING AWARDS</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Consideration
for Awards</U><FONT STYLE="color: #010000"></FONT>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Awards
may be granted for no cash consideration or for any cash or other consideration as may be determined by the Board or required
by applicable law.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Awards
Subject to Performance Measures</U>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Board may, in its discretion,
establish Performance Measures which shall be satisfied or met as a condition to the grant or exercisability of an Award or portion
thereof. Subject to the terms of the Plan and any applicable Award Agreement, the Performance Measures to be achieved during any
performance period, the length of any performance period, the amount of any Award granted, the amount of any payment or transfer
to be made pursuant to any such Award and any other terms and conditions applicable thereto shall be determined by the Board.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Awards
May Be Granted Separately or Together</U><FONT STYLE="color: #010000"></FONT>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
Awards may, in the discretion of the Board, be granted either alone or in addition to, in tandem with, or in substitution for,
any other Award or any award granted under any other plan of the Corporation or any Subsidiary. Awards granted in addition to
or in tandem with other Awards or in addition to or in tandem with awards granted under any other plan of the Corporation or any
Subsidiary may be granted either at the same time as, or at a different time from, the grant of such other Awards or awards.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Forms
of Payment under Awards</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
Subject to the terms of the Plan and of any applicable Award Agreement, payments or transfers to be made by the Corporation upon
the grant, exercise or payment of an Award may be made in such form or forms as the Board shall determine (including, without
limitation, cash, Shares, other securities, other Awards or other property, or any combination thereof), and may be made in a
single payment or transfer, in installments or on a deferred basis, in each case in accordance with rules and procedures established
by the Board. Such rules and procedures may include, without limitation, provisions for the payment or crediting of reasonable
interest on installment or deferred payments or the grant or crediting of dividend equivalents with respect to installment or
deferred payments.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Separation
from Service; Vesting</U><FONT STYLE="color: #010000"></FONT>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All
of the terms relating to the exercise, cancellation, forfeiture or other disposition of an Award upon a Separation from Service
of a Participant shall be determined by the Board. Such determination shall be made at the time of the grant of such Award and
shall be specified in the Award Agreement relating to the Award. Notwithstanding the foregoing or any other provision of the Plan
to the contrary:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
a Participant becomes an employee of the Corporation or a Subsidiary while continuing to serve as a Director, that fact alone
shall not result in a Separation from Service or otherwise impair the rights such Director may have under the Plan, including,
without limitation, the rights such Director may have under any Award outstanding under the Plan, but such Director shall no longer
be eligible to receive any further Awards under the Plan.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Award granted under the Plan shall become fully exercisable and vested upon the Participant&rsquo;s death, Disability or the occurrence
of a Change in Control, provided such Award had not then otherwise expired and the Participant is an Outside Director or employee
of the Corporation on the date of death, Disability or a Change in Control. In addition thereto, in the case of an Award of an
Option, such Award shall become fully exercisable and vested upon the Participant&rsquo;s Retirement Eligible Date, provided such
Award had not then otherwise expired and the Participant is an Outside Director or is employed by the Corporation on the Retirement
Eligible Date.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event of hardship or other special circumstances of a Participant who holds an Option Award that is not immediately exercisable
or a Restricted Stock Award then subject to the restrictions set forth in Section 7.1(a) or a Stock Grant Award subject to the
transfer restrictions set forth Section 8.6, the Board or the Chairman may in its (or his or her) sole discretion take any action
it (or he or she) deems to be equitable under the circumstances or in the best interests of the Corporation, including, without
limitation, waiving or modifying any limitation, restriction or requirement with respect to such Award. Notwithstanding the preceding
sentence, in the event the Chairman is a Participant, for any Award granted to the Chairman, only the Board has discretion to
take action it deems to be equitable under the circumstances or in the best interests of the Corporation, including, without limitation,
waiving or modifying any limitation, restriction or requirement with respect to such Award.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Board may provide in any Award Agreement that the Corporation shall have the right to repurchase from the Participant Restricted
Stock granted under Section 7.1 then subject to the restrictions set forth in Section 7.1(a) immediately upon a Separation from
Service for any reason at a cash price per Share equal to the cash price paid by the Participant for the Shares. In the discretion
of the Board, provision may be made that no such right of repurchase shall exist in the event of a Separation from Service without
cause or because of the Participant&rsquo;s Separation from Service on or after the Participant&rsquo;s Retirement Eligible Date,
or due to death or Disability.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
purposes of this Section 8.5, the Board shall determine whether a Participant&rsquo;s Separation from Service is due to cause,
occurs on or after the Participant&rsquo;s Retirement Eligible Date or is due to death or Disability, or whether the Participant
has incurred a hardship, and any such determination shall be final, binding and conclusive.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>8.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Limits
on Transfer of Awards</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
Except as otherwise provided by the Board or the terms of the Plan, no Award (and no right thereunder) shall be transferable by
a Participant other than by will or by the laws of descent and distribution. An Award of Restricted Stock shall provide that during
the period the Award is subject to restrictions pursuant to Section 7.1(a), and any Stock Grant Award may provide that the transferability
of the Shares subject to such Award shall be prohibited or restricted in the manner and to the extent prescribed by the Board
at the time the Award is granted. Such restrictions may include, without limitation, a right of repurchase or first refusal in
the Corporation or provisions subjecting Restricted Stock to continuing restrictions in the hand of the transferee. In addition,
any Award may provide that all or any part of the Shares to be issued or transferred by the Corporation upon the exercise of an
Option, or are no longer subject to forfeiture and restrictions on transfer referred to herein, shall be subject to further restrictions
upon transfer. The Board may establish procedures as it deems appropriate for a Participant to designate an individual, trust
or other entity as beneficiary or beneficiaries to exercise the rights of the Participant and receive any property distributable
with respect to any Award in the event of the Participant&rsquo;s death. The Board, in its discretion and subject to such additional
terms and conditions as it determines, may permit a Participant to transfer an Option to any &ldquo;family member&rdquo; (as such
term is defined in the General Instructions to Form S-8 (or any successor to such Instructions or such Form) under the Securities
Act of 1933, as amended) at any time such Participant holds such Option, provided: (a) such transfer may not be for value (<I>i.e.</I>,
the transferor may not receive any consideration therefor) and the family member may not make any subsequent transfer other than
by will or by the laws of descent and distribution; (b) no such transfer shall be effective unless reasonable prior notice thereof
has been delivered to the Corporation and such transfer is thereafter effected subject to the specific authorization of, and in
accordance with any terms and conditions made applicable to by, the Board; and (c) the transferee is subject to the same terms
and conditions hereunder as the Participant. Each Option Award (or right under such Award) shall be exercisable during the Participant&rsquo;s
lifetime only by the Participant (except as provided herein or in an Award Agreement or amendment thereto) or, if permissible
under applicable law, by the Participant&rsquo;s guardian or legal representative. No Award (or right under any Award) may be
pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance thereof
shall be void and unenforceable against the Corporation or any Subsidiary.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>8.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Restrictions;
Securities Exchange Listing</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
All Shares or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such
restrictions as the Board may deem advisable under the Plan, applicable federal or state securities laws and regulatory requirements,
and the Board may cause appropriate entries to be made or legends to be placed on the certificates for such Shares or other securities
to reflect such restrictions. If the Shares or other securities are traded on a securities exchange, the Corporation shall not
be required to deliver any Shares or other securities covered by an Award unless and until such Shares or other securities have
been admitted for trading on such securities exchange.</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
IX</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>ELECTION TO RECEIVE FEES IN SHARES</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Election
to Receive Fees in Shares.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> Each Outside Director shall be eligible
to elect to receive his or her Fees in the form of Shares rather than cash according to the following provisions of this Article
9.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Participation
Agreement.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> For each calendar year, the Board shall specify an
election period (which shall end no later than the last day of the calendar year immediately preceding such calendar year or,
with respect to the year in which a Participant is first elected to the Board, no later than 30 days after such election) during
which an Outside Director may enter into an election to receive up to 100% of the Fees otherwise payable to him or her for the
calendar year in the form of Shares rather than cash. The election shall be made pursuant to a Participation Agreement entered
into by the Outside Director and filed with the Secretary of the Corporation no later than the expiration of the election period.
A separate Participation Agreement must be entered into for each calendar year. Except as the Board may otherwise provide, the
Participation Agreement in effect for a calendar year shall be irrevocable after the expiration of the election period for the
calendar year.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance
of Shares.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The Corporation shall issue Shares to the Outside
Director for each calendar quarter during which the Outside Director has a Participation Agreement in effect. The Shares shall
be issued on the date on which the quarterly meeting of the Board is held. The number of Shares so issued shall be equal to: (i)
the dollar amount of the Fees the Outside Director has elected to receive as Shares for the calendar quarter pursuant to his or
her Participation Agreement; divided by (ii) the Fair Market Value per Share on the date on which the Outside Director would have
been paid the Fees in cash but for the Participation Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holding
Period.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> To the extent required to satisfy any condition for
exemption available pursuant to Rule 16b-3 of the Exchange Act, Shares acquired by an Outside Director pursuant to this Article
9 shall be held by the Outside Director for a period of at least six months following the date of acquisition.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
X</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>AMENDMENT AND TERMINATION; CORRECTIONS</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Amendments
to the Plan</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
The Board may amend, alter, suspend, discontinue or terminate the Plan; provided, however, notwithstanding any other provision
of the Plan or any Award Agreement, prior approval of the stockholders of the Corporation shall be required for any amendment
to the Plan that:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">requires
stockholder approval under the rules or regulations of the Securities and Exchange Commission, the New York Stock Exchange, any
other securities exchange or the National Association of Securities Dealers, Inc. applicable to the Corporation;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">increases
the number of Shares authorized under the Plan as specified in Section 5.1(a) of the Plan;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">permits
the repricing of Options; or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">permits
the award of Options at a price less than 100% of the Fair Market Value of a Share on the date of grant of such Option contrary
to the provisions of Sections 6.2 of the Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Amendments
to Awards</U><FONT STYLE="color: #010000"></FONT>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Subject
to the provisions of the Plan, the Board may waive any conditions of or rights of the Corporation under any outstanding Award,
prospectively or retroactively. Except as otherwise provided in the Plan, the Board may amend, alter, suspend, discontinue or
terminate any outstanding Award, prospectively or retroactively, but no such action may adversely affect the rights of the holder
of such Award in any material respect without the consent of the holder thereof.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Correction
of Defects, Omissions and Inconsistencies</U><FONT STYLE="color: #010000"></FONT>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award, Award Agreement
or Participation Agreement in the manner and to the extent it shall deem desirable to implement or maintain the effectiveness
of the Plan.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
XI</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>GENERAL PROVISIONS GOVERNING PLAN</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>No
Rights to Awards</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
No Outside Director or other person shall have any claim to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of Outside Directors, Participants, holders or beneficiaries of Awards under the Plan. The terms and conditions
of Awards need not be the same with respect to any Participant or with respect to different Participants.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Rights
as Stockholder</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
No person shall have any right as a stockholder of the Corporation with respect to any Shares or other equity security of the
Corporation which is subject to an Award hereunder unless and until such person becomes a stockholder of record with respect to
such Shares or equity security.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Governing
Law</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The Plan,
each Award hereunder (and the related Award Agreement), each Participation Agreement, and all determinations made and actions
taken pursuant thereto, to the extent not otherwise governed by the Code or the laws of the United States, shall be governed by
the laws of the State of Iowa and construed in accordance therewith without giving effect to principles of conflicts of laws.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Award
Agreements</U><FONT STYLE="color: #010000"></FONT>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No
Participant shall have rights under an Award granted to such Participant unless and until an Award Agreement shall have been duly
executed on behalf of the Corporation and, if requested by the Corporation, signed by the Participant.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>No
Limit on Compensation Plans or Arrangements</U><FONT STYLE="color: #010000"></FONT>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nothing
contained in the Plan shall prevent the Corporation or any Subsidiary from adopting or continuing in effect other or additional
compensation plans or arrangements.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>No
Right to Remain a Director</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
The grant of an Award shall not be construed as giving a Participant the right to be retained as a Director of the Corporation,
nor will it affect in any way the right of the Corporation to terminate a Participant&rsquo;s position as a Director, with or
without cause. In addition, the Corporation may at any time remove or dismiss a Participant from his or her position as a Director
free from any liability or any claim under the Plan or any Award, unless otherwise expressly provided in the Plan or in any Award
Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Severability</U><FONT STYLE="color: #010000"></FONT>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If any provision of the Plan or any Award is or becomes or is
deemed to be invalid, illegal or unenforceable in any jurisdiction or would disqualify the Plan or any Award under any law deemed
applicable by the Board, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be
so construed or deemed amended without, in the determination of the Board, materially altering the purpose or intent of the Plan
or the Award, such provision shall be stricken as to such jurisdiction or Award, and the remainder of the Plan or any such Award
shall remain in full force and effect.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>No
Trust or Fund Created</U><FONT STYLE="color: #010000"></FONT><I>.</I></FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
Neither the Plan, any Award nor any Participation Agreement shall create or be construed to create a trust or separate fund of
any kind or a fiduciary relationship between the Corporation or any Subsidiary and a Participant or any other person. To the extent
any person acquires a right to receive payments from the Corporation or a Subsidiary pursuant to an Award, such right shall be
no greater than the right of any unsecured general creditor of the Corporation or the Subsidiary.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Securities
Matters</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> The
Corporation shall not be required to deliver any Shares until the requirements of any federal or state securities or other laws,
rules or regulations (including the rules of any securities exchange) as may be determined by the Corporation to be applicable
are satisfied.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>No
Fractional Shares</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Board shall determine whether cash
shall be paid in lieu of any fractional Share or whether such fractional Share or any rights thereto shall be canceled, terminated
or otherwise eliminated.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Headings</U><FONT STYLE="color: #010000"></FONT>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Headings are given to the Articles, Sections and Subsections
of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant
to the construction or interpretation of the Plan or any provision thereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Nontransferability</U><FONT STYLE="color: #010000"></FONT>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Except as set forth in Section 8.6, no Award or other benefit
payable at any time under the Plan will be subject in any manner to alienation, sale, transfer, assignment, pledge, levy, attachment
or encumbrance of any kind.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>No
Other Agreements</U><FONT STYLE="color: #010000"></FONT>.</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
The terms and conditions set forth herein constitute the entire understanding of the Corporation, the Subsidiaries and the Participants
with respect to the matters addressed herein.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Incapacity</U><FONT STYLE="color: #010000"></FONT>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In the event any Participant is unable to care for his or her
affairs because of illness or accident, any payment due may be paid to the Participant&rsquo;s spouse, parent, brother, sister,
adult child or other person deemed by the Corporation to have incurred expenses for the care of the Participant, unless a duly
qualified guardian or other legal representative has been appointed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Release</U><FONT STYLE="color: #010000"></FONT>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Any payment of benefits to or for the benefit of a Participant
made in good faith by the Corporation in accordance with the Corporation&rsquo;s interpretation of its obligations hereunder,
shall be in full satisfaction of all claims against the Corporation and all Subsidiaries for benefits under the Plan to the extent
of such payment.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Notices</U><FONT STYLE="color: #010000"></FONT>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Any notice permitted or required under the Plan shall be in
writing and shall be hand delivered or sent, postage prepaid, by first class mail, or by certified or registered mail with return
receipt requested, to the Board, if to the Corporation, or to the address last shown on the records of the Corporation, if to
a Participant. Any such notice shall be effective as of the date of hand delivery or mailing.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Successors</U><FONT STYLE="color: #010000"></FONT>.
</FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All obligations of the Corporation under the Plan shall be binding
upon and inure to the benefit of any successor to the Corporation, whether the existence of such successor is the result of a
direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and or assets of
the Corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>11.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Awards
Subject to Clawback</U><FONT STYLE="color: #010000"></FONT>. </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Awards granted under this Plan and any cash payment or Shares delivered pursuant to such an Award are subject to forfeiture, recovery
by the Corporation or other action pursuant to the applicable Award Agreement or any clawback or recoupment policy which the Corporation
may adopt from time to time, including without limitation any such policy which the Corporation may be required to adopt under
the Dodd-Frank Wall Street Reform and Consumer Protection Act and implementing rules and regulations thereunder, or as otherwise
required by law.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><U>ARTICLE
XII</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
<U>EFFECTIVE DATE AND TERM OF PLAN</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Plan became effective on [May 9, 2017] (the &ldquo;Effective Date&rdquo;), the date it was approved by the stockholders of
the Corporation at the Corporation&rsquo;s annual meeting of stockholders.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Plan shall terminate at midnight on May 9, 2027, unless terminated before then by the Board. Awards may be granted, and Participation
Agreements may be entered into, under the Plan until the Plan terminates or until all Shares available for Awards under the Plan
have been purchased or acquired. Notwithstanding the preceding sentence, the Plan shall remain in effect for purposes of administering
outstanding Awards and Participation Agreements as long as they are outstanding.</FONT></P>

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

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

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



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


<P STYLE="margin: 0pt 0; text-align: right"></P>

<P STYLE="margin: 0pt 0; text-align: right"><B>Appendix D</B></P>

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;<B>HNI CORPORATION</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MEMBERS&rsquo; STOCK PURCHASE PLAN</B></P>

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

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 1.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>PURPOSE</U>.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The HNI Corporation
Members&rsquo; Stock Purchase Plan (the &ldquo;Plan&rdquo;) is intended to advance the interests of HNI Corporation (the &ldquo;Corporation&rdquo;)
and its stockholders by strengthening the Corporation&rsquo;s ability to attract and retain members who have the training, experience
and ability to enhance the profitability of the Corporation. It is also intended to align the interests of members with the interests
of shareholders by rewarding members of the Corporation and its subsidiaries, upon whose judgment, initiative and effort the success
of the Corporation largely depends. It is further intended that options issued pursuant to this Plan shall constitute options issued
pursuant to an &ldquo;employee stock purchase plan&rdquo; within the meaning of Section 423 of the Internal Revenue Code of 1986,
as amended (the &ldquo;Code&rdquo;).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 2.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>ADMINISTRATION</U>.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan shall be administered
by a management committee consisting of not less than three members appointed by the Board of Directors (the &ldquo;Committee&rdquo;);
provided that the Committee may fill any vacancy on the Committee on an interim basis until the Board of Directors takes action
to fill such vacancy. The majority of the Committee shall constitute a quorum, and the acts of a majority of the members of the
Committee present at any meeting at which a quorum is present, or actions unanimously approved in writing, shall be the acts of
the Committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The interpretation
and construction by the Committee of any provision of the Plan or of any option granted under it shall be final. The Committee
may establish any policies or procedures which in the discretion of the Committee are relevant to the operation and administration
of the Plan and may adopt rules for the administration of the Plan. No member of the Committee shall be liable for any action or
determination made in good faith with respect to the Plan or any option granted under it.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 3.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>ELIGIBILITY</U>.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Member (as defined
below) of the Corporation or of any Subsidiary (as defined below) of the Corporation on any Entry Date (as defined below) shall
be offered options under the Plan to purchase the Corporation&rsquo;s common stock, par value $1.00 per share (&ldquo;Common Stock&rdquo;).
However, no Member shall be granted an option under the Plan if, immediately after the option was granted, such member would own
stock possessing 5 percent or more of the total combined voting power or value of all classes of stock of the Corporation or of
any Subsidiary of the Corporation. For purposes of this paragraph, stock ownership of an individual shall be determined under the
rules of Section 424(d) of the Code, and stock that the Member may purchase under outstanding options shall be treated as owned
by the Member.</P>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of the
Plan, the term &ldquo;Member&rdquo; shall include a person employed as a common law employee on the payroll of the Corporation or
any of its Subsidiaries, but does not include (a) a member whose customary employment is less than 20 hours per week or (b) a member
whose customary employment is for not more than 5 months in any calendar year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of the
Plan, the term &ldquo;Subsidiary&rdquo; means any corporation designated by the Committee that is a wholly owned subsidiary either
of the Corporation or of any wholly owned subsidiary of the Corporation. The term &ldquo;Entry Date&rdquo; means the first business
day of each fiscal quarter of the Corporation during which this Plan is effective. The first Entry Date under this Plan will be
the first business day of the first fiscal quarter beginning after the effective date of the Plan.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 4.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>PARTICIPATION</U>.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An
eligible Member shall evidence his or her acceptance of the option by completing a written agreement (the &ldquo;Subscription and
Authorization Form&rdquo;) provided by the Committee and filing it as directed by the Committee at least ten days before the applicable
Entry Date. Once a Member provides the Committee with the Subscription and Authorization Form, he or she shall continue to participate
in the Plan for a full fiscal quarter or a series of full fiscal quarters until he or she withdraws from the Plan. A Member&rsquo;s withdrawal
from the Plan is effective as soon as administratively practicable after the Member provides written notice to the Corporation.
If a Member withdraws from the Plan prior to the end of an Offering Period, all payroll deductions shall cease and the payroll
deductions credited to such Member&rsquo;s account as of the date of withdrawal shall be used to purchase shares of Common Stock
as of the next Exercise Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the Subscription and Authorization Form, an eligible Member may elect that his or her compensation be reduced by a specified dollar
amount, which will be used at the next Exercise Date to purchase shares of Common Stock at the option price determined pursuant
to Section 6 below, subject to the limit described in Section 6(d) below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of this
Plan, the subscription shall apply only to regularly scheduled payroll cycles.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 5.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>STOCK</U>.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The stock subject to
the options granted under the Plan shall be shares of authorized but unissued or reacquired Common Stock held as treasury shares.
Subject to the provisions of Section 6(h), the aggregate number of shares that may be purchased under the Plan shall not exceed
800,000 shares of Common Stock. In the event that the number of shares subject to options to be granted pursuant to any offering
under the Plan exceeds the number of shares available to be purchased under the Plan, the shares available to be purchased shall
be allocated on a pro rata basis among the options to be granted.</P>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 6.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>TERMS AND CONDITIONS OF OPTIONS</U>.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Options granted pursuant
to the Plan shall be evidenced by a Subscription and Authorization Form in such form as the Committee shall from time to time approve,
provided that all Members granted such options shall have the same rights and privileges (except as otherwise provided in subparagraphs
(c) and (d) below), and provided further that such options shall comply with and be subject to the following terms and conditions:</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Option
Price</U>. The option price shall be an amount equal to 85 percent of the Closing Price Per Share on the Exercise Date (as defined
in Section 6(c) of the Plan). &ldquo;Closing Price Per Share&rdquo; means, as of any particular date, (i) the closing sale price
of the Common Stock as reported on the New York Stock Exchange, or any other principal exchange on which shares of the Common Stock
are then trading, if any, on the relevant date, or if there are no sales on such day, on the next preceding trading day during
which a sale occurred, or (ii) if Section 6(a)(i) does not apply, the fair market value of the Common Stock as determined by the
Committee. Subject to the foregoing, the Committee shall have full authority and discretion in fixing the option price.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Medium
and Time of Payment</U>. The option price shall be payable in full in United States dollars, pursuant to uniform policies and procedures
established by the Committee, not later than the Exercise Date of such option. The funds required for such payment, in accordance
with rules promulgated by the Committee, are derived by regular withholding from a Member&rsquo;s pay in approximately equal installments
over the term of the option or such other period as may be approved by the Committee, subject to minimum payroll deductions of
$5.00 for Members paid weekly and $10.00 for Members paid semimonthly or biweekly. No interest shall accrue on the Member funds
held by the Corporation. A Member shall have the right to terminate the withholding from his pay of amounts to be paid toward the
option price, or to increase the amount withheld (subject to Section 6(d)), or to decrease the amount so withheld, by submitting
a written request to the Corporation at least ten days before the Entry Date of the next fiscal quarter. The change or termination
will be effective on the Entry Date of the next fiscal quarter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Term
of Option</U>. The date on which the Common Stock to which an option pertains is to be purchased by the optionee (the &ldquo;Exercise
Date&rdquo;) shall be the last business day of the fiscal quarter in which the Entry Date occurs. The option shall be deemed automatically
exercised on the Exercise Date to the extent of payments received from the optionee. The period beginning on the Entry Date and
ending on the Exercise Date shall be referred to as the &ldquo;Offering Period.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accrual
Limitation</U>. No option shall permit the rights of an optionee to purchase stock under all &ldquo;employee stock purchase plans&rdquo;
(as defined in Section 423(b) of the Code) of the Corporation to accrue at a rate which exceeds $25,000 of fair market value of
such stock (determined at the grant date of the option which is also the Exercise Date) for each calendar year in which the option
is outstanding at any time. Thus, the maximum contributions to the plan cannot exceed $21,250 since the option price is equal to
85% of the Closing Price per share on the Exercise Date. For purposes of this Section 6(d), the following terms apply: (i) the
right to purchase stock under an option accrues when the option (or any portion thereof) first becomes exercisable during the calendar
year, (ii) the right to purchase stock under an option accrues at the rate provided in the option, and (iii) a right to purchase
stock which has accrued under an option granted pursuant to the Plan may not be carried over to any other option.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
of Employment</U>. If an optionee ceases to be employed by the Corporation or a Subsidiary, the total unused payments credited
to his or her account will be used to purchase stock at the option price described in Section 6(a), and he or she will have no
other rights or options under the Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.1pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Leaves
of Absence</U>. For purposes of the Plan, a Member who commences a leave of absence during any fiscal quarter may continue to make
payments only if the Member is receiving pay through the regular payroll system of the Corporation or a Subsidiary in an amount
sufficient to cover the payments under this Plan. In that case, the payments shall be equal to the rate of payroll deduction made
prior to the commencement of the leave and shall continue until the earlier of (i) the first Exercise Date following the commencement
of such leave, or (ii) the Member&rsquo;s termination of employment with the Corporation and its Subsidiaries. If, during such fiscal
quarter, the Member terminates employment during such leave as described in this Section, Section 6(e) shall apply with respect
to such Member.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If, at any time during
a leave of absence, a Member is not receiving pay from the Corporation or a Subsidiary in an amount sufficient to cover the payments
under this Plan, the total unused payments credited to his or her account will be used to purchase stock at the option price described
in Section 6(a), and he or she will have no other rights or options under the Plan. Notwithstanding the foregoing, if such former
Member returns to active employment as a Member with the Corporation or any of its Subsidiaries from a leave of absence, the Member
may resume participation under the Plan beginning with the Entry Date in the next fiscal quarter and provided the Member is an
active employee of the Corporation or any of its Subsidiaries on the Entry Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability</U>.
Neither payments credited to an optionee&rsquo;s account nor any rights to receive Common Stock under the Plan may be transferred by
an optionee except by the laws of descent and distribution. Any such attempted transfer will be without effect, except that the
Corporation may treat such act as an election by the optionee to withdraw from the Plan in accordance with Section 6(b). Each account
will be subject to liens, attachments, and garnishments pursuant to judgments against the optionee in the same manner as wages
earned by the optionee. Options may not be exercised during an optionee&rsquo;s lifetime except by the optionee or, in the event of the
optionee&rsquo;s legal incapacity, by his or her guardian or legal representative acting in a fiduciary capacity on behalf of the optionee
under state law and court supervision.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">&nbsp;</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Adjustments</U>.
The Committee shall make or provide for such adjustments in the option price and in the number or kind of shares of the Common
Stock or other securities covered by outstanding options or available for awards as the Committee in its sole discretion, exercised
in good faith, determines is equitably required to prevent dilution or enlargement of the rights of optionees that would otherwise
result from (a) any stock dividend, extraordinary cash dividend, stock split, combination of shares, recapitalization or other
change in the capital structure of the Corporation, (b) any merger, consolidation, spin-off, split-off, spin-out, split-up, separation,
reorganization, partial or complete liquidation, or other distribution of assets, issuance of rights or warrants to purchase stock,
or (c) any other corporate transaction or event having an effect similar to any of the foregoing. Moreover, in the event of any
such transaction or event, the Committee, in its discretion, may provide in substitution for any or all outstanding options under
this Plan such alternative consideration as it, in good faith, may determine to be equitable under the circumstances. The Committee
may require in connection therewith the surrender of all options so replaced, except that in no event shall the Committee substitute
such alternative consideration that would disqualify this Plan as an &ldquo;employee stock purchase plan&rdquo; within the meaning
of Section 423 of the Code.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The grant of an option
pursuant to the Plan shall not affect in any way the right or power of the Corporation to make adjustments, reclassifications,
reorganizations or changes in its capital or business structure or to merge or to consolidate or to dissolve, liquidate or sell
or transfer all or any part of its business or assets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Rights
as a Stockholder</U>. An optionee shall have no rights as a stockholder with respect to any Common Stock covered by his or her
option until the option is exercised and the purchase price is paid in full. No adjustment shall be made for dividends (ordinary
or extraordinary, whether in cash, securities or other property) or distributions or other rights for which the record date is
prior to the date of such exercise, except as provided in Section 6(h) of the Plan.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Upon Issuance of Shares of Common Stock</U>. Common Stock shall not be issued with respect to an option unless the exercise of
such option and the issuance and delivery of such shares comply with all applicable provisions of law, domestic or foreign, including,
without limitation, the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, related rules and
regulations, and the requirements of any stock exchange upon which the shares are then listed, and shall be further subject to
the approval of counsel for the Corporation with respect to such compliance. As a condition to the purchase of Common Stock, the
Corporation may require the Member to represent and warrant at the time of purchase that the shares are being purchased only for
investment and without any present intention to sell or distribute the shares if, in the opinion of counsel for the Corporation,
such a representation is required by applicable law.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Certificate</U>. The shares of Common Stock will be registered in non-certificated form in the name of the Member. Shares transferred
to a person pursuant to Section 6(g) following the death of the Member, shall be registered in non-certificated form in the name
of such person.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer
of Shares</U>. As promptly as practicable after each Exercise Date on which a purchase of shares occurs, the Corporation shall
deliver the shares purchased by the Member to a brokerage account established for the Member at a Corporation-designated brokerage
firm (a &ldquo;Brokerage Account&rdquo;). The shares shall be held in the Brokerage Account until the Member sells such shares
or transfers them (either electronically or in certificate form) to other accounts or to another brokerage firm.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Provisions</U>. The option agreements authorized under the Plan shall contain such other provisions as the Committee may deem advisable,
provided that no such provisions may in any way be in conflict with the terms of the Plan. All Members who participate in an Offering
Period shall have the same rights and privileges with respect to the offering under such Offering Period except for differences
which may be mandated by local law and which are consistent with Section 423(b)(5) of the Code; provided, however, that Members
participating in a subplan adopted pursuant to Section 11 which is not designed to qualify under Section 423 of the Code need not
have the same rights and privileges as Members participating in the Plan generally. The Board or the Committee may impose restrictions
on eligibility and participation of Members who are officers and directors to facilitate compliance with federal or state securities
laws or foreign laws</P>



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<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 7.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>TERM OF PLAN</U>.</B></TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The term of the Plan shall commence with
the first Entry Date following the date the Plan is approved by the stockholders as required by Section 9 and shall end upon the
earlier of (i) the date on which the maximum number of shares of Common Stock set forth in Section 5 have been purchased under
the Plan or (ii) the date as of which the Board terminates the Plan.</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 8.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>AMENDMENT OF THE PLAN</U>.</B></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan may be amended
from time to time by the Committee, without further approval of the stockholders, provided that such amendment does not (a) increase
the aggregate number of shares of Common Stock that may be issued and sold under the Plan (except that adjustments authorized by
Section 6(h) of the Plan shall not be limited by this provision), (b) materially modify the requirements as to eligibility for
participation in the Plan, (c) cause options issued under the Plan to fail to meet the requirements applicable to &ldquo;employee
stock purchase plans&rdquo; as defined in Section 423 of the Code, or (d) cause the transactions under the Plan to cease to qualify
as exempt transactions under Rule 16b-3 under the Exchange Act. In addition, any amendment that must be approved by the stockholders
of the Corporation in order to comply with applicable law or the rules of the New York Stock Exchange or any other principal exchange
on which the Common Stock is then trading, if any, shall not be effective unless and until such approval shall have been obtained.</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 9.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>APPROVAL OF STOCKHOLDERS</U>.</B></TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan shall not
take effect until approved by vote of the holders of a majority of the total number of outstanding shares of Common Stock present
in person or by proxy at a meeting at which a quorum is present in person or by proxy, which approval must occur within the period
of 12 months after the date the Plan is adopted by the Board of Directors.</P>

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

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 10%; text-align: left"><B>Section 10.</B></TD><TD STYLE="text-align: justify; width: 90%"><B><U>CORPORATE TRANSACTIONS</U>.</B></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.1pt">In the event of the
proposed dissolution or liquidation of the Corporation, the Offering Period then in progress will terminate immediately prior to
the consummation of such proposed action, unless otherwise provided by the Committee. In the event of a proposed sale of all or
substantially all of the assets of the Corporation, or the merger of the Corporation with or into another corporation, each option
under the Plan shall be assumed or an equivalent option shall be substituted by such successor corporation or a parent or subsidiary
of such successor corporation in accordance with Section 424 of the Code, unless the Board or Committee determines, in the exercise
of its sole discretion and in lieu of such assumption or substitution, to shorten the Offering Period then in progress by setting
a new Exercise Date (the &ldquo;New Exercise Date&rdquo;) or to cancel each outstanding option and refund all sums collected from
Members during the Offering Period then in progress.</P>

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