<SEC-DOCUMENT>0001193125-19-030908.txt : 20190207
<SEC-HEADER>0001193125-19-030908.hdr.sgml : 20190207
<ACCEPTANCE-DATETIME>20190207163130
ACCESSION NUMBER:		0001193125-19-030908
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190201
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190207
DATE AS OF CHANGE:		20190207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELCATH SYSTEMS, INC.
		CENTRAL INDEX KEY:			0000872912
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				061245881
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16133
		FILM NUMBER:		19575555

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		SUITE 22C
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 489-2100

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		SUITE 22C
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELCATH SYSTEMS INC
		DATE OF NAME CHANGE:	19990607
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d687830d8k.htm
<DESCRIPTION>FORM 8-K
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B><FONT
STYLE="white-space:nowrap">FORM&nbsp;8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): February&nbsp;1, 2019 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>DELCATH SYSTEMS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-16133</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">06-1245881</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1633 Broadway, Suite 22C, New York, New York </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>10019 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Zip code)
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">(212)&nbsp;489-2100</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>None </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or
former address, if changed since last report.) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate <FONT
STYLE="white-space:nowrap">box&nbsp;below&nbsp;if&nbsp;the&nbsp;Form&nbsp;8-K&nbsp;filing&nbsp;is&nbsp;intended&nbsp;to&nbsp;simultaneously</FONT> satisfy the filing obligation of the registrant under any of the following
provisions&nbsp;(<U>see</U>&nbsp;General Instruction A.2 below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Soliciting&nbsp;material&nbsp;pursuant&nbsp;to&nbsp;Rule&nbsp;14a-12&nbsp;
under&nbsp;the&nbsp;Exchange&nbsp;Act&nbsp;(17&nbsp;CFR&nbsp;240.14a-12)</FONT></FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Pre-commencement&nbsp;communications&nbsp;
pursuant&nbsp;to&nbsp;Rule&nbsp;14d-2(b)&nbsp;under&nbsp;the&nbsp;Exchange&nbsp;Act&nbsp;(17&nbsp;CFR&nbsp;240.14d-2(b))</FONT></FONT></FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Pre-commencement&nbsp;communications&nbsp;
pursuant&nbsp;to&nbsp;Rule&nbsp;13e-4(c)&nbsp;under&nbsp;the&nbsp;Exchange&nbsp;Act&nbsp;(17&nbsp;CFR&nbsp;240.13e-4(c))</FONT></FONT></FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">of&nbsp;this&nbsp;chapter)&nbsp;or&nbsp;Rule&nbsp;12b-2&nbsp;of&nbsp;the&nbsp;Securities&nbsp;Exchange&nbsp;Act&nbsp;of1934&nbsp;(&#167;240.12b-2&nbsp;of&nbsp;this&nbsp;
chapter).</FONT></FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Emerging growth company </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended
transition period for complying with any new or revised financial accounting standards provided pursuant to section 13(a) of the Exchange Act. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;3.02 Unregistered Sale of Equity Securities </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">See Item 5.02 below. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02 Compensatory Plan
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective February&nbsp;1, 2019, the Board of Directors adopted the 2019 Equity Incentive Plan (the &#147;2019 Plan&#148;). The awards per the 2019
Plan may be granted through February&nbsp;1, 2029 to the Company&#146;s employees, consultants, directors and <FONT STYLE="white-space:nowrap">non-employee</FONT> directors. The maximum number of shares of our common stock that may be issued under
the 2019 Plan is 1,500,000 shares, which amount will be (a)&nbsp;reduced by awards granted under the 2019 Plan, and (b)&nbsp;increased to the extent that awards granted under the 2019 Plan are forfeited, expire or are settled for cash (except as
otherwise provided in the 2019 Plan). No employee will be eligible to receive more than 500,000 shares of common stock in any calendar year under the 2019 Plan pursuant to the grant of awards. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the administration of our 2019 Plan, our Compensation Committee will: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">determine which employees and other persons will be granted awards under our 2019 Plan; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">grant the awards to those selected to participate; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">determine the exercise price for options; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">prescribe any limitations, restrictions and conditions upon any awards, including the vesting conditions of
awards. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our Compensation Committee will: (i)&nbsp;interpret our 2019 Plan; and (ii)&nbsp;make all other
determinations and take all other action that may be necessary or advisable to implement and administer our 2019 Plan. The 2019 Plan provides that in the event of a change of control event, the Compensation Committee or our Board of Directors shall
have the discretion to determine whether and to what extent to accelerate the vesting, exercise or payment of an award. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, our Board of
Directors may amend our 2019 Plan at any time. However, without shareholder approval, our Plan may not be amended in a manner that would: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">materially modify the requirements for eligibility for participation in the 2019 Plan; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">materially increase the benefits to participants provided by the 2019 Plan; or </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">otherwise disqualify the 2019 Plan for an exemption under Rule <FONT STYLE="white-space:nowrap">16b-3</FONT>
promulgated under the Exchange Act. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Awards previously granted under the 2019 Plan may not be impaired or affected by any amendment of
the 2019 Plan, without the consent of the affected grantees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;1, 2019, options to purchase 1,250,000 shares of common stock were granted
under the 2019 Plan to our executive officers and employees, with an exercise price of $0.281 per share, with the options vesting, over a period of one year from the date of grant, in 12 equal monthly increments commencing on the one month
anniversary of the grant date and continuing for the 11 consecutive monthly anniversaries of the grant date thereafter. The options carry a ten year term and expire on February&nbsp;1, 2029. The following officers and directors were granted options
as follows, all in transactions exempt from registration under Section&nbsp;4(a)(2) of the Securities Act of 1933, as amended: </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Jennifer Simpson</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">350,000 options</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Barbra Keck</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">250,000 options</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">John Purpura</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">250,000 options</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Each of Roger Stoll, William Rueckert, Simon Pedder and Marco Taglietti</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">100,000 options</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01 Exhibit </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Exhibit 4.01 &nbsp;&nbsp;&nbsp;&nbsp; <A HREF="d687830dex401.htm">2019 Equity Incentive Plan </A> </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">DELCATH SYSTEMS, INC.</TD></TR>
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<TD VALIGN="top">Date: February&nbsp;7, 2019</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jennifer Simpson</P></TD></TR>
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<TD VALIGN="top"></TD>
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<TD VALIGN="top">Name:</TD>
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<TD VALIGN="top">Jennifer Simpson</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
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<TD VALIGN="top">President and Chief Executive Officer</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">EXHIBIT 4.01 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DELCATH SYSTEMS, INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2019 EQUITY INCENTIVE PLAN </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Delcath
Systems, Inc. (the &#147;Company&#148;), a Delaware corporation, hereby adopts the following 2019 Equity Incentive Plan (the &#147;Plan&#148;). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.
PURPOSE OF THE PLAN </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The purpose of the Plan is to assist the Company and its Subsidiaries in attracting and retaining selected individuals to serve as
employees, directors, consultants and/or advisors who are expected to contribute to the Company&#146;s success and to achieve long-term objectives that will benefit stockholders of the Company through the additional incentives inherent in the Awards
hereunder. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. DEFINITIONS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.1.
</B>&#147;<I>Affiliate</I>&#148; shall mean (i)&nbsp;any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, provided each corporation in the unbroken chain (other than the Company) owns, at the time of
the determination, stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain, and (ii)&nbsp;any corporation (other than the Company) in an unbroken chain of corporations
beginning with the Company, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, stock possessing 50% or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain. The Board shall have the authority to determine (i)&nbsp;the time or times at which the ownership tests are applied, and (ii)&nbsp;whether &#147;Affiliate&#148; includes entities other than corporations within
the foregoing definition. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.2. </B>&#147;<I>Award</I>&#148; shall mean any Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock
Unit Award, Other Share-Based Award, Performance Award or any other right, interest or option relating to Shares or other property (including cash) granted pursuant to the provisions of the Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.3. </B>&#147;<I>Award Agreement</I>&#148; shall mean any agreement, contract or other instrument or document evidencing any Award hereunder, whether in
writing or through an electronic medium. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.4. </B>&#147;<I>Board</I>&#148; shall mean the board of directors of the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.5. </B><I>&#147;Cause&#148;</I>&nbsp;shall mean with respect to a Participant, the occurrence of any of the following: (i)&nbsp;the Participant commits an
act of dishonesty in connection with the Participant&#146;s responsibilities as an Employee or Consultant; (ii)&nbsp;the Participant commits a felony or any act of moral turpitude; (iii)&nbsp;the Participant commits any willful or grossly negligent
act that constitutes gross misconduct </P>
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and/or injures, or is reasonably likely to injure, the Company or any Affiliate; or (iv)&nbsp;the Participant willfully and materially violates (A)&nbsp;any written policies or procedures of the
Company or any Affiliate, or (B)&nbsp;the Participant&#146;s obligations to the Company or any Affiliate. The determination that a termination is for Cause shall be made by the Company in its sole discretion. Any determination by the Company that
the Continuous Service of a Participant was terminated with or without Cause for the purposes of outstanding Awards held by such Participant shall have no effect upon any determination of the rights or obligations of the Company or such Participant
for any other purpose. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.6.</B> <I>&#147;Change in Control&#148;</I>&nbsp;means the occurrence, in a single transaction or in a series of related
transactions, of any one or more of the following events: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Any Exchange Act Person becomes the Owner, directly or indirectly, of securities of the
Company representing more than 50% of the combined voting power of the Company&#146;s then outstanding securities other than by virtue of a merger, consolidation or similar transaction. Notwithstanding the foregoing, a Change in Control shall not be
deemed to occur (i)&nbsp;on account of the acquisition of securities of the Company by an investor, any affiliate thereof or any other Exchange Act Person from the Company in a transaction or series of related transactions the primary purpose of
which is to obtain financing for the Company through the issuance of equity securities or (ii)&nbsp;solely because the level of ownership held by any Exchange Act Person (the &#147;Subject Person&#148;) exceeds the designated percentage threshold of
the outstanding voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this
sentence) as a result of the acquisition of voting securities by the Company, and after such share acquisition, the Subject Person becomes the owner of any additional voting securities that, assuming the repurchase or other acquisition had not
occurred, increases the percentage of the then outstanding voting securities owned by the Subject Person over the designated percentage threshold, then a Change in Control shall be deemed to occur; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) There is consummated a merger, consolidation or similar transaction involving (directly or indirectly) the Company and, immediately after the consummation
of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto do not Own, directly or indirectly, either (i)&nbsp;outstanding voting securities representing more than 50% of the combined outstanding
voting power of the surviving Entity in such merger, consolidation or similar transaction or (ii)&nbsp;more than 50% of the combined outstanding voting power of the parent of the surviving Entity in such merger, consolidation or similar transaction,
in each case in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such transaction; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) The stockholders of the Company approve or the Board approves a plan of complete dissolution or liquidation of the Company, or a complete dissolution or
liquidation of the Company shall otherwise occur; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) There is consummated a sale, lease, exclusive license or other disposition of all or substantially
all of the consolidated assets of the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the </P>
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Company and its Subsidiaries to an entity, more than 50% of the combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same
proportions as their ownership of the outstanding voting securities of the Company immediately prior to such sale, lease, license or other disposition; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) Individuals who, on the date this Plan is adopted by the Board, are members of the Board (the &#147;Incumbent Board&#148;) cease for any reason to
constitute at least a majority of the members of the Board; provided, however, that if the appointment or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of the members of the Incumbent
Board then still in office, such new member shall, for purposes of this Plan, be considered as a member of the Incumbent Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For avoidance of doubt,
the term Change in Control shall not include a sale of assets, merger or other transaction effected exclusively for the purpose of changing the domicile of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, to the extent that the Company determines that any of the payments or benefits under this Plan that are payable in connection
with a Change in Control constitute deferred compensation under Section&nbsp;409A that may only be paid on a transaction that meets the standard of Treasury Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-3(a)(5),</FONT> the
foregoing definition of Change in Control shall apply only to the extent the transaction also meets the definition used for purposes of Treasury Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-3(a)(5),</FONT> that is, as defined
under Treasury Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-3(i)(5).</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing or any other provision of
this Plan, the definition of Change in Control (or any analogous term) in an individual written agreement between the Company or any Affiliate and the Participant shall supersede the foregoing definition with respect to Awards subject to such
agreement; provided, however, that if no definition of Change in Control or any analogous term is set forth in such an individual written agreement, the foregoing definition shall apply. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.7. </B>&#147;<I>Code</I>&#148; shall mean the Internal Revenue Code of 1986, as amended from time to time. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.8. </B>&#147;<I>Committee</I>&#148; shall mean a committee consisting of members of the Board to whom authority has been delegated by the Board in
accordance with Section&nbsp;4.2(c). Initially, and until further action by the Board, &#147;Committee&#148; shall mean the Compensation Committee of the Board or a subcommittee thereof formed by the Compensation Committee to act as the Committee
hereunder. The Committee shall consist of no fewer than two Directors, each of whom is (i)&nbsp;a <FONT STYLE="white-space:nowrap">&#147;Non-Employee</FONT> Director&#148; within the meaning of Rule <FONT STYLE="white-space:nowrap">16b-3</FONT>
under the Exchange Act, (ii)&nbsp;an &#147;outside director&#148; within the meaning of Section&nbsp;162(m) of the Code, and (iii)&nbsp;an &#147;independent director&#148; for purpose of the rules of the applicable stock market or exchange on which
the Shares are quoted or traded, to the extent required by such rules. The Board may designate one or more Directors as alternate members of the Committee who may replace any absent or disqualified member at any meeting of the Committee.
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<B>2.9. </B>&#147;<I>Consultant</I>&#148; shall mean any consultant or advisor who is a natural person and who provides services to the Company or any Subsidiary, so long as such person
(i)&nbsp;renders bona fide services that are not in connection with the offer and sale of the Company&#146;s securities in a capital-raising transaction and (ii)&nbsp;does not directly or indirectly promote or maintain a market for the
Company&#146;s securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.10. </B><I>&#147;Continuous Service&#148;</I>&nbsp;shall mean that the Participant&#146;s service with the Company or an
Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. A change in the capacity in which the Participant renders service to the Company or an Affiliate from a Consultant to Employee shall not terminate a
Participant&#146;s Continuous Service. Furthermore, a change in the entity for which the Participant renders such service, provided that there is no interruption or termination of the Participant&#146;s service with the Company or an Affiliate,
shall not terminate a Participant&#146;s Continuous Service. However, if the corporation for which a Participant is rendering service ceases to qualify as an Affiliate, as determined by the Board in its sole discretion, such Participant&#146;s
Continuous Service shall be considered to have terminated on the date such corporation ceases to qualify as an Affiliate. A leave of absence shall be treated as Continuous Service for purposes of vesting in an Award to such extent as may be provided
in the Company&#146;s leave of absence policy or in the written terms of the Participant&#146;s leave of absence. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.11. </B><I>&#147;Corporate
Transaction&#148;</I><I></I>&nbsp;shall mean the occurrence, in a single transaction or in a series of related transactions, of any one or more of the following events: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) a sale or other disposition of all or substantially all, as determined by the Board in its sole discretion, of the consolidated assets of the Company and
its Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) a sale or other disposition of at least ninety percent (90%) of the outstanding securities of the Company; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) the consummation of a merger, consolidation or similar transaction following which the Company is not the surviving corporation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) the consummation of a merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common Stock
outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar transaction into other property, whether in the form of securities, cash or otherwise.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.12. </B>&#147;<I>Covered Employee</I>&#148; shall mean an employee of the Company or its Subsidiaries who is a &#147;covered employee&#148; within
the meaning of Section&nbsp;162(m) of the Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.13. </B>&#147;<I>Director</I>&#148; shall mean a <FONT STYLE="white-space:nowrap">non-employee</FONT>
member of the Board. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.14. </B><I>&#147;Disability&#148;</I>&nbsp;shall mean with respect to a Participant, the inability of such Participant to engage
in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months, as
provided in Sections 22(e)(3) and 409A(a)(2)(c)(i) of the Code, and shall be determined by the Board on the basis of such medical evidence as the Board deems warranted under the circumstances. </P>
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<B>2.15. </B>&#147;<I>Dividend Equivalents</I>&#148; shall have the meaning set forth in Section&nbsp;12.4. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.16. </B>&#147;<I>Employee</I>&#148; shall mean any employee of the Company or any Subsidiary and any prospective employee conditioned upon, and effective
not earlier than, such person becoming an employee of the Company or any Subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.17. </B>&#147;<I>Exchange Act</I>&#148; shall mean the
Securities Exchange Act of 1934, as amended. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.18. </B><I>&#147;Exchange Act Person&#148;</I><I></I>&nbsp;shall mean any natural person, entity or
&#147;group&#148; (within the meaning of Section&nbsp;13(d) or 14(d) of the Exchange Act), except that &#147;Exchange Act Person&#148; shall not include (i)&nbsp;the Company or any Subsidiary of the Company, (ii)&nbsp;any employee benefit plan of
the Company or any Subsidiary of the Company or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary of the Company, (iii)&nbsp;an underwriter temporarily holding securities pursuant to an
offering of such securities, (iv)&nbsp;an entity owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company; or (v)&nbsp;any natural person, entity or
&#147;group&#148; (within the meaning of Section&nbsp;13(d) or 14(d) of the Exchange Act) that, as of the effective date of the Plan as set forth in Section&nbsp;13, is the owner, directly or indirectly, of securities of the Company representing
more than 50% of the combined voting power of the Company&#146;s then outstanding securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.19. </B>&#147;<I>Fair Market Value</I>&#148; shall
mean, with respect to Shares as of any date, (i)&nbsp;the closing sale price of the Shares reported as having occurred on the principal U.S. national securities exchange on which the Shares are listed and traded on such date, or, if there is no such
sale on that date, then on the last preceding date on which such a sale was reported; (ii)&nbsp;if the Shares are not listed on any U.S. national securities exchange but are quoted in an inter-dealer quotation system on a last sale basis, the final
ask price of the Shares reported on such date, or, if there is no such sale on such date, then on the last preceding date on which a sale was reported; or (iii)&nbsp;if the Shares are not listed on a U.S. national securities exchange nor quoted on
an inter-dealer quotation system on a last sale basis, the amount determined by the Committee to be the fair market value of the Shares as determined by the Committee in its sole discretion. The Fair Market Value of any property other than Shares
shall mean the market value of such property determined by such methods or procedures as shall be established from time to time by the Committee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.20.
</B><I>&#147;Incentive Stock Option&#148;</I><I></I>&nbsp;shall mean an Option which when granted is intended to qualify as an incentive stock option for purposes of Section&nbsp;422 of the Code. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.21. </B><I><FONT STYLE="white-space:nowrap">&#147;Non-Employee</FONT> Director&#148;</I>&nbsp;shall mean a Director who either (i)&nbsp;is not a current
employee or officer of the Company or an Affiliate, does not receive compensation, either directly or indirectly, from the Company or an Affiliate for services rendered as a consultant or in any capacity other than as a Director (except for an
amount as to which disclosure would not be required under Item 404(a) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> promulgated pursuant to the Securities Act (&#147;<I>Regulation <FONT STYLE="white-space:nowrap">S-K</FONT></I>&#148;)),
does not possess an interest in any other transaction for which disclosure would be required under Item 404(a) of Regulation <FONT STYLE="white-space:nowrap">S-K,</FONT> and is not engaged in a business relationship for which disclosure would be
required pursuant to Item 404(b) of Regulation <FONT STYLE="white-space:nowrap">S-K;</FONT> or (ii)&nbsp;is otherwise considered a <FONT STYLE="white-space:nowrap">&#147;non-employee</FONT> director&#148; for purposes of Rule <FONT
STYLE="white-space:nowrap">16b-3.</FONT> </P>
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such Participant to purchase Shares at such price or prices and during such period or periods as the Board shall determine. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.23. </B>&#147;<I>Other
Share-Based Award</I>&#148; shall have the meaning set forth in Section&nbsp;8.1. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.24. </B><I>&#147;Outside Director&#148;</I>&nbsp;shall mean a
Director who either (i)&nbsp;is not a current employee of the Company or an &#147;affiliated corporation&#148; (within the meaning of Treasury Regulations promulgated under Section&nbsp;162(m) of the Code), is not a former employee of the Company or
an &#147;affiliated corporation&#148; who receives compensation for prior services (other than benefits under a <FONT STYLE="white-space:nowrap">tax-qualified</FONT> retirement plan) during the taxable year, has not been an officer of the Company or
an &#147;affiliated corporation,&#148; and does not receive remuneration from the Company or an &#147;affiliated corporation,&#148; either directly or indirectly, in any capacity other than as a Director, or (ii)&nbsp;is otherwise considered an
&#147;outside director&#148; for purposes of Section&nbsp;162(m) of the Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.25. </B>&#147;<I>Participant</I>&#148; shall mean an Employee, Director
or Consultant who is selected by the Committee to receive an Award under the Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.26. </B>&#147;<I>Payee</I>&#148; shall have the meaning set forth
in Section&nbsp;13.2. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.27. </B>&#147;<I>Performance Award</I>&#148; shall mean any Award of Performance Cash, Performance Shares or Performance Units
granted pursuant to Article 9. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.28. </B><I>&#147;Performance Cash&#148;</I><I></I>&nbsp;shall mean any cash incentives granted pursuant to
Article&nbsp;9 payable to the Participant upon the achievement of such performance goals as the Committee shall establish. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.29.
</B><I>&#147;Performance Criteria&#148;</I>&nbsp;shall mean one or more of the criteria specified in Section&nbsp;10.2 and selected by the Board for purposes of establishing the Performance Goals for a Performance Period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.30. </B><I>&#147;Performance Goals&#148;</I>&nbsp;shall mean, for a Performance Period, the one or more goals established by the Board for the Performance
Period based upon the Performance Criteria. Performance Goals may be set on a Company-wide basis, with respect to one or more business units, divisions, Affiliates, or business segments, and in either absolute terms or relative to internally
generated business plans, approved by the Board, the performance of one or more comparable companies or the performance of one or more relevant indices. To the extent consistent with Section&nbsp;162(m) of the Code and the regulations thereunder,
the Board is authorized to make adjustments in the method of calculating the attainment of Performance Goals for a Performance Period as follows: (i)&nbsp;to exclude restructuring and/or other nonrecurring charges (including but not limited to the
effect of tax or legal settlements); (ii) to exclude exchange rate effects, as applicable, for <FONT STYLE="white-space:nowrap">non-U.S.</FONT> dollar denominated net sales and operating </P>
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earnings; (iii)&nbsp;to exclude the effects of changes to generally accepted accounting standards required by the Financial Accounting Standards Board; (iv)&nbsp;to exclude the effects of any
statutory adjustments to corporate tax rates; (v)&nbsp;to exclude stock-based compensation expense determined under generally accepted accounting principles; (vi)&nbsp;to exclude any other unusual,
<FONT STYLE="white-space:nowrap">non-recurring</FONT> gain or loss or extraordinary item; (vii)&nbsp;to respond to, or in anticipation of, any unusual or extraordinary corporate item, transaction, event or development; (viii)&nbsp;to respond to, or
in anticipation of, changes in applicable laws, regulations, accounting principles, or business conditions; (ix)&nbsp;to exclude the dilutive effects of acquisitions or joint ventures; (x)&nbsp;to assume that any business divested by the Company
achieved performance objectives at targeted levels during the balance of a Performance Period following such divestiture; (xi)&nbsp;to exclude the effect of any change in the outstanding shares of common stock of the Company by reason of any stock
dividend or split, stock repurchase, reorganization, recapitalization, merger, consolidation, <FONT STYLE="white-space:nowrap">spin-off,</FONT> combination or exchange of shares or other similar corporate change, or any distributions to common
shareholders other than regular cash dividends; (xii)&nbsp;to reflect a corporate transaction, such as a merger, consolidation, separation (including a spinoff or other distribution of stock or property by a corporation), or reorganization (whether
or not such reorganization comes within the definition of such term in Section&nbsp;368 of the Code); (xiii) to reflect any partial or complete corporate liquidation; (xiv)&nbsp;to exclude the effect of
<FONT STYLE="white-space:nowrap">in-process</FONT> research and development expenses; and (xv)&nbsp;to exclude the income tax effect of <FONT STYLE="white-space:nowrap">non-GAAP</FONT> <FONT STYLE="white-space:nowrap">pre-tax</FONT> adjustments from
the provision for income taxes. The Board also retains the discretion to reduce or eliminate the compensation or economic benefit due upon attainment of Performance Goals. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.31. </B>&#147;<I>Performance Period</I>&#148; shall mean the period established by the Committee during which any performance goals specified by the
Committee with respect to a Performance Award are to be measured. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.32. </B>&#147;<I>Performance Share</I>&#148; shall mean any grant pursuant to
Article 9 of a unit valued by reference to a designated number of Shares, which value will be paid to the Participant upon achievement of such performance goals as the Committee shall establish. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.33. </B>&#147;<I>Performance Unit</I>&#148; shall mean any grant pursuant to Article 9 of a unit valued by reference to a designated amount of cash or
property other than Shares, which value will be paid to the Participant upon achievement of such performance goals during the Performance Period as the Committee shall establish. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.34. </B>&#147;<I>Permitted Assignee</I>&#148; shall have the meaning set forth in Section&nbsp;12.2. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.35.</B><B></B>&nbsp;&#148;<I>Restricted Stock</I>&#148; shall mean any Share issued with the restriction that the holder may not sell, transfer, pledge or
assign such Share and with such other restrictions as the Committee, in its sole discretion, may impose, which restrictions may lapse separately or in combination at such time or times, in installments or otherwise, as the Committee may deem
appropriate. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.36. </B>&#147;<I>Restricted Stock Award</I>&#148; shall have the meaning set forth in Section&nbsp;7.1. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.37. </B><I>&#147;Restricted Stock Unit&#148;</I><I></I>&nbsp;means an Award that is valued by reference to a Share, which value may be paid to the
Participant by delivery of such property as the Board shall determine, which restrictions may lapse separately or in combination at such time or times, in installments or otherwise, as the Board may deem appropriate.
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<B>2.38. </B><I>&#147;Restricted Stock Unit Award&#148;</I><I></I>&nbsp;shall have the meaning set forth in Section&nbsp;7.1 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.39. </B>&#147;<I>Shares</I>&#148; shall mean the shares of common stock of the Company, par value $0.001 per share. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.40. </B>&#147;<I>Stock Appreciation Right</I>&#148; shall mean the right granted to a Participant pursuant to Article&nbsp;6. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.41. </B>&#147;<I>Subsidiary</I>&#148; shall mean any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company
if, at the relevant time each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in the chain. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.42. </B><I>Substitute Awards</I>&#148; shall mean Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for,
awards previously granted, or the right or obligation to make future awards, in each case by a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.43. </B>&#147;<I>Vesting Period</I>&#148; shall mean the period of time specified by the Committee during which vesting restrictions for an Award are
applicable; such Vesting Periods shall be determined on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">case-by-case</FONT></FONT> basis by the Committee on each Award. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3. SHARES SUBJECT TO THE PLAN </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.1. </B><I>Number of
Shares</I>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Subject to adjustment as provided in Section&nbsp;11.1, the number of shares of Common Stock issued or transferred and covered by
outstanding awards granted under this Plan shall not in the aggregate exceed 1,500,000 shares of Common Stock, which may be Common Stock of original issuance or Common Stock held in treasury, or a combination thereof. Subject to the provisions of
Section&nbsp;11.1 regarding adjustments in the event of stock splits, reverse stock splits and other recapitalization events, the aggregate maximum number of shares of Common Stock that may be issued pursuant to the exercise of Incentive Stock
Options shall be 1,500,000. The Company shall at all times during the term of the Plan, and while any Stock Awards are outstanding, retain as authorized and unissued Common Stock or as treasury Common Stock, at least the number of shares of Common
Stock required under the provisions of this Plan, or otherwise assure itself of its ability to perform its obligations hereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) If any Shares
subject to an Award are forfeited, an Award expires or otherwise terminates without issuance of Shares, or an Award is settled for cash (in whole or in part) or otherwise does not result in the issuance of all or a portion of the Shares subject to
such Award (including on payment in Shares on exercise of a Stock Appreciation Right), such Shares shall, to the extent of such forfeiture, expiration, termination, cash settlement or <FONT STYLE="white-space:nowrap">non-issuance,</FONT> again be
available for issuance under the Plan. </P>
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(c) In the event that (i)&nbsp;any Option or other Award granted hereunder is exercised through the tendering of Shares (either actually or by attestation) or by the withholding of Shares by the
Company, or (ii)&nbsp;withholding tax liabilities arising from such Option or other Award are satisfied by the tendering of Shares (either actually or by attestation) or by the withholding of Shares by the Company, then the Shares so tendered or
withheld shall be available for issuance under the Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Substitute Awards shall not reduce the Shares authorized for grant under the Plan or the
applicable limitations for grant to a Participant under Section&nbsp;10.4, nor shall Shares subject to a Substitute Award again be available for Awards under the Plan to the extent of any forfeiture, expiration or cash settlement as provided in
paragraph (b)&nbsp;or (c) above. Additionally, in the event that a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under a
<FONT STYLE="white-space:nowrap">pre-existing</FONT> plan approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such
<FONT STYLE="white-space:nowrap">pre-existing</FONT> plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration
payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for grant under the Plan; provided that Awards using such available
shares shall not be made after the date awards or grants could have been made under the terms of the <FONT STYLE="white-space:nowrap">pre-existing</FONT> plan, absent the acquisition or combination, and shall only be made to individuals who were not
Employees or Directors prior to such acquisition or combination. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) The Board may grant Incentive Stock Options to any employee of the Company or any
present or future Parent or Subsidiary as defined in Sections 424(e) or (f)&nbsp;of the Code, and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be
construed consistently with the requirements of Section&nbsp;422 of the Code. The Company shall have no liability to a Participant, or any other party, if an Option (or any part thereof) that is intended to be an Incentive Stock Option is not an
Incentive Stock Option or for any action taken by the Board, including without limitation the conversion of an Incentive Stock Option to a Nonstatutory Stock Option. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.2. </B><I>Source of Shares</I>. Any Shares issued hereunder may consist, in whole or in part, of authorized and unissued shares, treasury shares or shares
purchased in the open market or otherwise. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4. ELIGIBILITY AND ADMINISTRATION </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.1. </B><I>Eligibility</I>. Any Employee, Director or Consultant shall be eligible to be selected as a Participant. The Board may grant Substitute Awards
to holders of equity awards issued by a company acquired by the Company or with which the Company combines. </P>
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<B>4.2. </B><I>Administration.</I> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) The Board shall administer the Plan unless and until the
Board delegates administration of the Plan to a Committee, as provided in Section&nbsp;3(c). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) The Board or authorized Committee shall have the power,
subject to, and within the limitations of, the express provisions of the Plan and subject to such orders or resolutions not inconsistent with the provisions of the Plan as may from time to time be adopted by the Board, to: (i)&nbsp;select the
Employees, Directors or Consultants to whom Awards may from time to time be granted hereunder; (ii)&nbsp;determine the type or types of Awards to be granted to each Participant hereunder; (iii)&nbsp;determine the number of Shares to be covered by
each Award granted hereunder; (iv)&nbsp;determine the terms and conditions, not inconsistent with the provisions of the Plan, of any Award granted hereunder; (v)&nbsp;determine whether, to what extent and under what circumstances Awards may be
settled in cash, Shares or other property; (vi)&nbsp;determine whether, to what extent, and under what circumstances cash, Shares, other property and other amounts payable with respect to an Award made under the Plan shall be deferred either
automatically or at the election of the Participant; (vii)&nbsp;determine whether, to what extent and under what circumstances any Award shall be canceled or suspended; (viii)&nbsp;interpret and administer the Plan and any instrument or agreement
entered into under or in connection with the Plan, including any Award Agreement; (ix)&nbsp;correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent that the Committee shall deem
desirable to carry it into effect; (x)&nbsp;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; (xi)&nbsp;determine whether any Award will have
Dividend Equivalents; and (xii)&nbsp;make any other determination and take any other action that the Committee deems necessary or desirable for administration of the Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) The Board may delegate all or a portion of the administration of the Plan to a Committee, as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(i) The Board may delegate some or all of the administration of the Plan to a Committee or Committees. If administration is delegated to a
Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that have been delegated to the Committee, including the power to delegate to a subcommittee any of the
administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan,
as may be adopted from time to time by the Board or the Committee (as applicable). The Board may retain the authority to concurrently administer the Plan with the Committee and may, at any time, <FONT STYLE="white-space:nowrap">re-vest</FONT> in the
Board some or all of the powers previously delegated. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(ii) In the sole discretion of the Board, the Committee may consist solely of two or
more Outside Directors, in accordance with Section&nbsp;162(m) of the Code, and/or solely of two or more <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors, in accordance with Rule <FONT STYLE="white-space:nowrap">16b-3</FONT> of the
Exchange Act. In addition, the Board in its sole discretion, may (1)&nbsp;delegate to a committee of one or more members of the Board who need not be Outside Directors the authority to grant Awards to eligible persons who are either (a)&nbsp;not
then Covered Employees and are not </P>
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expected to be Covered Employees at the time of recognition of income resulting from such Award, or (b)&nbsp;not persons with respect to whom the Company wishes to comply with Section&nbsp;162(m)
of the Code, and/or (2)&nbsp;delegate to a committee of two or more members of the Board who need not be <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors the authority to grant Awards to eligible persons who are not then subject to
Section&nbsp;16 of the Exchange Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(iii) Until further action is taken by the Board, the full powers and administration of the Plan are
hereby delegated to the Compensation Committee of the Board, which shall be constituted to comply with the membership requirements of <FONT STYLE="white-space:nowrap">Section&nbsp;16b-3</FONT> of the Exchange Act and Section&nbsp;162(m) of the Code.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) The Board or Committee may delegate to one or more officers of the Company the authority to do one or both of the following (i)&nbsp;designate
Employees of the Company or any of its Subsidiaries to be recipients of Options, Stock Appreciation Rights and, to the extent permitted by applicable law, other Awards and, to the extent permitted by applicable law, the terms thereof, and
(ii)&nbsp;determine the number of shares of Common Stock to be subject to such Awards granted to such Employees;<I>&nbsp;provided, however</I>, that the Board resolutions regarding such delegation shall specify the total number of shares of Common
Stock that may be subject to the Options granted by such Officer. Any such Stock Awards granted by Officers will be granted on the form of Award Agreement most recently approved for use by the Committee or the Board, unless otherwise provided in the
resolutions approving the delegation authority. Notwithstanding anything to the contrary in this Section&nbsp;4.2(d), the Board may not delegate to an Officer authority to determine the Fair Market Value of the Common Stock pursuant to
Section&nbsp;2.19 above. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) All determinations, interpretations and constructions made by the Board in good faith shall not be subject to review by any
person and shall be final, binding and conclusive on all persons. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) In connection with the Company&#146;s desire to comply as broadly as possible with
Section&nbsp;162(m) of the Code, and subject to adjustment in the event of stock splits, reverse stock splits and other events of recapitalization as provided in Section&nbsp;11.1 hereof, no individual </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5. OPTIONS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.1. </B><I>Grant of Options</I>. Options
may be granted hereunder to Participants either alone or in addition to other Awards granted under the Plan. Any Option shall be subject to the terms and conditions of this Article and to such additional terms and conditions, not inconsistent with
the provisions of the Plan, as the Board shall deem desirable. Options may be designated as Incentive Stock Options, as determined by the Board. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.2.
</B><I>Award Agreements</I>. All Options shall be evidenced by a written Award Agreement in such form and containing such terms and conditions as the Committee shall determine which are not inconsistent with the provisions of the Plan. The terms of
Options need not be the same with respect to each Participant. Granting an Option pursuant to the Plan shall impose no obligation on the recipient to exercise such Option. Any individual who is granted an Option pursuant to this Article may hold
more than one Option granted pursuant to the Plan at the same time. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.3. </B><I>Option Price</I>. Other than in connection with Substitute Awards, the option price per each
Share purchasable under any Option granted pursuant to this Article shall not be less than 100% of the Fair Market Value of one Share on the date of grant of such Option;<I>&nbsp;provided, however</I>, that in the case of an Incentive Stock Option
granted to a Participant who, at the time of the grant, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any Subsidiary, the option price per share Shall be no less than 110% of the Fair Market
Value of one Share on the date of grant. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.4. </B><I>Option Term</I>. The term of each Option shall be fixed by the Board in its sole discretion;
provided that no Option shall be exercisable after the expiration of 10 years from the date the Option is granted, except in the event of death or disability (other than with respect to an Incentive Stock Option); provided, however, that the term of
the Option shall not exceed five years from the date the Option is granted in the case of an Incentive Stock Option granted to a Participant who, at the time of the grant, owns stock representing more than 10% of the voting power of all classes of
stock of the Company or any Subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.5. </B><I>Exercise of Options</I>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Vested Options granted under the Plan shall be exercised by the Participant or by a Permitted Assignee (as defined in Section&nbsp;12.2) thereof (or by the
Participant&#146;s executors, administrators, guardian or legal representative, as may be provided in an Award Agreement) as to all or part of the Shares covered thereby, by giving notice of exercise to the Company or its designated agent,
specifying the number of Shares to be purchased. The notice of exercise shall be in such form, made in such manner, and in compliance with such other requirements consistent with the provisions of the Plan as the Committee may prescribe from time to
time </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Full payment of the exercise price of an Option shall be made at the time of exercise and shall be made (i)&nbsp;in cash or cash equivalents
(including certified check or bank check or wire transfer of immediately available funds), (ii)&nbsp;by tendering previously acquired Shares (either actually or by attestation, valued at their then Fair Market Value), (iii)&nbsp;by delivery of other
consideration having a Fair Market Value on the exercise date equal to the total purchase price, (iv)&nbsp;by withholding Shares otherwise issuable in connection with the exercise of the Option, (v)&nbsp;through any other method specified in an
Award Agreement (including <FONT STYLE="white-space:nowrap">same-day</FONT> sales through a broker), or (vi)&nbsp;any combination of any of the foregoing, as may be provided in the Award Agreement. The notice of exercise, accompanied by such
payment, shall be delivered to the Company at its principal business office or such other office as the Committee may from time to time direct, and shall be in such form, containing such further provisions consistent with the provisions of the Plan,
as the Committee may from time to time prescribe. In no event may any Option granted hereunder be exercised for a fraction of a Share. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.6.
</B><I>Excess Grant over Incentive Stock Option</I><I></I>&nbsp;Limit. To the extent that the aggregate Fair Market Value (determined at the time of grant) of Common Stock with respect to which Incentive Stock Options are exercisable for the first
time by any Optionholder during any calendar year (under all plans of the Company and any Affiliates) exceeds $250,000, the Options or portions thereof that exceed such limit (according to the order in which they were granted) shall be treated as
Nonstatutory Stock Options, notwithstanding any contrary provision of the applicable Option Agreement(s). </P>
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<B>5.7.</B> <I>Transferability of Options.</I><I></I><I>&nbsp;The</I>&nbsp;Board may, in its sole discretion, impose such limitations on the transferability of Options as the Board shall
determine. In the absence of such a determination by the Board to the contrary, the following restrictions on the transferability of Options shall apply: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) An Option shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the
Optionholder only by the Optionholder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding the foregoing, an Option may be transferred pursuant to a domestic relations
order;<I>&nbsp;provided, however</I>, that if an Option is an Incentive Stock Option, such Option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding the foregoing, the Optionholder may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the
Company and any broker designated by the Company to effect Option exercises, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option. In the absence of such a designation, the
executor or administrator of the Optionholder&#146;s estate shall be entitled to exercise the Option. However, the Company may prohibit designation of a beneficiary at any time, including due to any conclusion by the Company that such designation
would be inconsistent with the provisions of applicable laws. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.8. </B><I>Termination of Continuous Service Generally.</I><I></I>&nbsp;In the event
that an Optionholder&#146;s Continuous Service terminates (other than for Cause or upon the Optionholder&#146;s death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such
Option as of the date of termination of Continuous Service) but only within such period of time ending on the earlier of (i)&nbsp;the date three months following the termination of the Optionholder&#146;s Continuous Service (or such longer or
shorter period specified in the Option Agreement), or (ii)&nbsp;the expiration of the term of the Option as set forth in the Option Agreement. If, after termination of Continuous Service, the Optionholder does not exercise his or her Option within
the time specified herein or in the Option Agreement (as applicable), the Option shall terminate. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.9.</B> <I>Extension of Exercise
Period.</I><I></I>&nbsp;An Optionholder&#146;s Option Agreement may provide that if the exercise of the Option following the termination of the Optionholder&#146;s Continuous Service (other than upon the Optionholder&#146;s death or Disability)
would be prohibited at any time solely because the issuance of shares of Common Stock would violate the registration requirements under the Securities Act, then the Option shall terminate on the earlier of (i)&nbsp;the expiration of a period of
three months after the termination of the Optionholder&#146;s Continuous Service (or such longer or shorter period specified in the Option Agreement) during which the exercise of the Option would not be in violation of such registration
requirements, or (ii)&nbsp;the expiration of the term of the Option as set forth in the Option Agreement. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.10.</B> <I>Termination Due to Disability.</I><I></I>&nbsp;In the event that an Optionholder&#146;s
Continuous Service terminates as a result of the Optionholder&#146;s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination of Continuous
Service), but only within such period of time ending on the earlier of (i)&nbsp;the date 12 months following such termination of Continuous Service (or such longer or shorter period specified in the Option Agreement), or (ii)&nbsp;the expiration of
the term of the Option as set forth in the Option Agreement. If, after termination of Continuous Service, the Optionholder does not exercise his or her Option within the time specified herein or in the Option Agreement (as applicable), the Option
shall terminate. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.11.</B> <I>Termination Due to Death. In</I>&nbsp;the event that (i)&nbsp;an Optionholder&#146;s Continuous Service terminates as a
result of the Optionholder&#146;s death, or (ii)&nbsp;the Optionholder dies within the period (if any) specified in the Option Agreement after the termination of the Optionholder&#146;s Continuous Service for a reason other than death, then the
Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the Optionholder&#146;s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a
person designated to exercise the option upon the Optionholder&#146;s death, but only within the period ending on the earlier of (i)&nbsp;the date 12 months following the date of death(or such longer or shorter period specified in the Option
Agreement), or (ii)&nbsp;the expiration of the term of such Option as set forth in the Option Agreement. If, after the Optionholder&#146;s death, the Option is not exercised within the time specified herein or in the Option Agreement (as
applicable), the Option shall terminate. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.12</B>. <I>Termination for Cause.</I>&nbsp;In the event that an Optionholder&#146;s Continuous Service is
terminated for Cause, the Option shall terminate immediately and cease to remain outstanding and the Option shall cease to be exercisable with respect to any shares of Common Stock (whether vested or unvested) at the time of such termination. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>6. STOCK APPRECIATION RIGHTS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>6.1. </B><I>Grant and
Exercise</I>. The Committee may provide Stock Appreciation Rights (a)&nbsp;in tandem with all or part of any Option granted under the Plan or at any subsequent time during the term of such Option, (b)&nbsp;in tandem with all or part of any Award
(other than an Option) granted under the Plan or at any subsequent time during the term of such Award, or (c)&nbsp;without regard to any Option or other Award in each case upon such terms and conditions as the Committee may establish in its sole
discretion. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>6.2. </B><I>Terms and Conditions</I>. Stock Appreciation Rights shall be subject to such terms and conditions, not inconsistent with the
provisions of the Plan, as shall be determined from time to time by the Committee, including the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) Upon the exercise of a Stock Appreciation
Right, the holder shall have the right to receive the excess of (i)&nbsp;the Fair Market Value of one Share on the date of exercise (or such amount less than such Fair Market Value as the Committee shall so determine at any time during a specified
period before the date of exercise) over (ii)&nbsp;the grant price of the Stock Appreciation Right on the date of grant, which, except in the case of Substitute Awards or in connection with an adjustment provided in Section&nbsp;11.1, shall not be
less than the Fair Market Value of one Share on such date of grant of the Stock Appreciation Right. </P>
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(b) The Committee shall determine in its sole discretion whether payment of a Stock Appreciation Right shall be made in cash, in whole Shares or other property, or any combination thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) The provisions of Stock Appreciation Rights need not be the same with respect to each recipient. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) The Committee may impose such other conditions or restrictions on the terms of exercise and the grant price of any Stock Appreciation Right, as it shall
deem appropriate. A Stock Appreciation Right shall have (i)&nbsp;a grant price not less than 100% of the Fair Market Value of one Share on the date of grant (subject to the requirements of Section&nbsp;409A of the Code with respect to a Stock
Appreciation Right granted in tandem with, but subsequent to, an Option), and (ii)&nbsp;a term not greater than 10 years except in the event of death or disability (other than with respect to a Stock Appreciation Right granted in tandem with an
Incentive Stock Option). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e) An Award Agreement may provide that if on the last day of the term of a Stock Appreciation Right the Fair Market Value of one
Share exceeds the grant price per Share of the Stock Appreciation Right, the Participant has not exercised the Stock Appreciation Right or the tandem Option (if applicable) and neither the Stock Appreciation Right nor the Option has expired, the
Stock Appreciation Right shall be deemed to have been exercised by the Participant on such day. In such event the Company shall make payment to the Participant in accordance with this Section, reduced by the number of Shares (or cash) required for
withholding taxes; any fractional Share shall be settled in cash. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f) In the event that a Participant&#146;s Continuous Service terminates (other than for
Cause or upon the Participant&#146;s death or Disability), the Participant may exercise his or her Stock Appreciation Right (to the extent that the Participant was entitled to exercise such Stock Appreciation Right as of the date of termination of
Continuous Service) but only within such period of time ending on the earlier of (i)&nbsp;the date three months following the termination of the Participant&#146;s Continuous Service (or such longer or shorter period specified in the Stock
Appreciation Right Agreement), or (ii)&nbsp;the expiration of the term of the Stock Appreciation Right as set forth in the Stock Appreciation Right Agreement. If, after termination of Continuous Service, the Participant does not exercise his or her
Stock Appreciation Right within the time specified herein or in the Stock Appreciation Right Agreement (as applicable), the Stock Appreciation Right shall terminate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g) A Participant&#146;s Stock Appreciation Right Agreement may provide that if the exercise of the Stock Appreciation Right following the termination of the
Participant&#146;s Continuous Service (other than upon the Participant&#146;s death or Disability) would be prohibited at any time solely because the issuance of shares of Common Stock would violate the registration requirements under the Securities
Act, then the Stock Appreciation Right shall terminate on the earlier of (i)&nbsp;the expiration of a period of three months after the termination of the Participant&#146;s Continuous Service (or such longer or shorter period specified in the Stock
Appreciation Right Agreement) during which the exercise of the Stock Appreciation Right would not be in violation of such registration requirements, or (ii)&nbsp;the expiration of the term of the Stock Appreciation Right as set forth in the Stock
Appreciation Right Agreement. </P>
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(h) In the event that a Participant&#146;s Continuous Service terminates as a result of the Participant&#146;s Disability, the Participant may exercise his or her Stock Appreciation Right (to the
extent that the Participant was entitled to exercise such Stock Appreciation Right as of the date of termination of Continuous Service), but only within such period of time ending on the earlier of (i)&nbsp;the date 12 months following such
termination of Continuous Service (or such longer or shorter period specified in the Stock Appreciation Right Agreement), or (ii)&nbsp;the expiration of the term of the Stock Appreciation Right as set forth in the Stock Appreciation Right Agreement.
If, after termination of Continuous Service, the Participant does not exercise his or her Stock Appreciation Right within the time specified herein or in the Stock Appreciation Right Agreement (as applicable), the Stock Appreciation Right shall
terminate. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) In the event that (i)&nbsp;a Participant&#146;s Continuous Service terminates as a result of the Participant&#146;s death, or (ii)&nbsp;the
Participant dies within the period (if any) specified in the Stock Appreciation Right Agreement after the termination of the Participant&#146;s Continuous Service for a reason other than death, then the Stock Appreciation Right may be exercised (to
the extent the Participant was entitled to exercise such Stock Appreciation Right as of the date of death) by the Participant&#146;s estate, by a person who acquired the right to exercise the Stock Appreciation Right by bequest or inheritance or by
a person designated to exercise the Stock Appreciation Right upon the Participant&#146;s death, but only within the period ending on the earlier of (i)&nbsp;the date 12 months following the date of death (or such longer or shorter period specified
in the Stock Appreciation Right Agreement), or (ii)&nbsp;the expiration of the term of such Stock Appreciation Right as set forth in the Stock Appreciation Right Agreement. If, after the Participant&#146;s death, the Stock Appreciation Right is not
exercised within the time specified herein or in the Stock Appreciation Right Agreement (as applicable), the Stock Appreciation Right shall terminate. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j)
In the event that a Participant&#146;s Continuous Service is terminated for Cause, the Stock Appreciation Right shall terminate immediately and cease to remain outstanding and the Stock Appreciation Right shall cease to be exercisable with respect
to any shares of Common Stock (whether vested or unvested) at the time of such termination. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7. RESTRICTED STOCK AND RESTRICTED STOCK UNITS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.1. </B><I>Grants</I>. Awards of Restricted Stock and of Restricted Stock Units may be issued hereunder to Participants either alone or in addition to
other Awards granted under the Plan (a &#147;Restricted Stock Award&#148; or &#147;Restricted Stock Unit Award&#148; respectively), and such Restricted Stock Awards and Restricted Stock Unit Awards shall also be available as a form of payment of
Performance Awards and other earned cash-based incentive compensation. The Committee has absolute discretion to determine whether any consideration (other than services) is to be received by the Company or any Subsidiary as a condition precedent to
the issuance of Restricted Stock or Restricted Stock Units. </P>
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<B>7.2. </B><I>Award Agreements</I>. The terms of any Restricted Stock Award or Restricted Stock Unit Award granted under the Plan shall be set forth in an Award Agreement which shall contain
provisions determined by the Committee and not inconsistent with the Plan. The terms of Restricted Stock Awards and Restricted Stock Unit Awards need not be the same with respect to each Participant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.3. </B><I>Rights of Holders of Restricted Stock and Restricted Stock Units.</I><I></I>&nbsp;Unless otherwise provided in the Award Agreement, beginning on
the date of grant of the Restricted Stock Award and subject to execution of the Award Agreement, the Participant shall become a stockholder of the Company with respect to all Shares subject to the Award Agreement and shall have all of the rights of
a stockholder, including the right to vote such Shares and the right to receive distributions made with respect to such Shares. A Participant receiving a Restricted Stock Unit Award shall not possess voting rights with respect to such Award. Except
as otherwise provided in an Award Agreement any Shares or any other property (other than cash) distributed as a dividend or otherwise with respect to any Restricted Stock Award or Restricted Stock Unit Award as to which the restrictions have not yet
lapsed shall be subject to the same restrictions as such Restricted Stock Award or Restricted Stock Unit Award. The Committee may provide in an Award Agreement that an Award of Restricted Stock is conditioned upon the Participant making or
refraining from making an election with respect to the Award under Section&nbsp;83(b) of the Code. If a Participant makes an election pursuant to 83(b) of the Code with respect to an Award of Restricted Stock, the Participant shall be required to
file promptly a copy of such election with the Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.4. </B><I>Issuance of Shares.</I><I></I>&nbsp;Any Restricted Stock granted under the Plan 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 Company. 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. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.5. </B><I>Transferability.</I><I></I>&nbsp;Rights to acquire shares of Common Stock under the Award Agreement shall be transferable by the Participant
only upon such terms and conditions as are set forth in the Award Agreement, as the Board shall determine in its sole discretion, so long as Common Stock awarded under the Award Agreement remains subject to the terms of the Award Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>7.6. </B><I>Termination of Continuous Service.</I>&nbsp;Except as otherwise provided in the applicable Award Agreement, such portion of the Award that has
not vested will be forfeited upon the Participant&#146;s termination of Continuous Service. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8. OTHER SHARE-BASED AWARDS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8.1. </B><I>Grants</I>. Other Awards of Shares and other Awards that are valued in whole or in part by reference to, or are otherwise based on, Shares or
other property (&#147;Other Share-Based Awards&#148;), including deferred stock units, may be granted hereunder to Participants either alone or in addition to other Awards granted under the Plan. Other Share-Based Awards shall also be available as a
form of payment of other Awards granted under the Plan and other earned cash-based compensation. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8.2. </B><I>Award Agreements</I>. The terms of Other Share-Based Award granted under the Plan shall be
set forth in an Award Agreement which shall contain provisions determined by the Committee and not inconsistent with the Plan. The terms of such Awards need not be the same with respect to each Participant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>8.3. </B><I>Payment.</I><I></I>&nbsp;Except as may be provided in an Award Agreement, Other Share-Based Awards may be paid in cash, Shares, other property,
or any combination thereof, in the sole discretion of the Committee. Other Share-Based Awards may be paid in a lump sum or in installments or, in accordance with procedures established by the Committee, on a deferred basis subject to the
requirements of Section&nbsp;409A of the Code. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>9. PERFORMANCE AWARDS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>9.1. </B><I>Grants</I>. Performance Awards in the form of Performance Cash, Performance Shares or Performance Units, as determined by the Committee in its
sole discretion, may be granted hereunder to Participants, for no consideration or for such minimum consideration as may be required by applicable law, either alone or in addition to other Awards granted under the Plan. The performance goals to be
achieved for each Performance Period shall be conclusively determined by the Committee and may be based upon the criteria set forth in Section&nbsp;10.2. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>9.2. </B><I>Award Agreements.</I><I></I>&nbsp;The terms of any Performance Award granted under the Plan shall be set forth in an Award Agreement which shall
contain provisions determined by the Committee and not inconsistent with the Plan, including whether such Awards shall have Dividend Equivalents. The terms of Performance Awards need not be the same with respect to each Participant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>9.3. </B><I>Terms and Conditions.</I><I></I>&nbsp;The performance criteria to be achieved during any Performance Period and the length of the Performance
Period shall be determined by the Committee upon the grant of each Performance Award. The amount of the Award to be distributed shall be conclusively determined by the Committee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>9.4. </B><I>Payment.</I><I></I>&nbsp;Except as provided in Section&nbsp;11.1 or as may be provided in an Award Agreement, Performance Awards will be
distributed only after the end of the relevant Performance Period. Performance Awards may be paid in cash, Shares, other property, or any combination thereof, in the sole discretion of the Committee. Performance Awards may be paid in a lump sum or
in installments following the close of the Performance Period or, in accordance with procedures established by the Committee, on a deferred basis subject to the requirements of Section&nbsp;409A of the Code. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>10. CODE SECTION&nbsp;162(m) PROVISIONS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>10.1.
</B><I>Covered Employees</I>. Notwithstanding any other provision of the Plan, if the Committee determines at the time a Restricted Stock Award, a Restricted Stock Unit Award, a Performance Award or an Other Share-Based Award is granted to a
Participant who is, or is likely to be, as of the end of the tax year in which the Company would claim a tax deduction in connection with such Award, a Covered Employee, then the Committee may provide that this Article&nbsp;10 is applicable to such
Award. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>10.2. </B><I>Performance Criteria</I>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) If the Committee determines that a Restricted Stock Award, a Restricted Stock Unit, a Performance Award or an Other Share-Based Award is intended to be
subject to this Article&nbsp;10, the lapsing of restrictions thereon and the distribution of cash, Shares or other property pursuant thereto, as applicable, shall be subject to the achievement of one or more objective performance goals established
by the Committee, which shall be based on the attainment of specified levels of one or any combination of the following, or such other performance criteria as may be later determined by the Committee: (i)&nbsp;net sales; (ii)&nbsp;revenue; (iii)
revenue growth or product revenue growth; (iv)&nbsp;operating income (before or after taxes); (v) <FONT STYLE="white-space:nowrap">pre-</FONT> or <FONT STYLE="white-space:nowrap">after-tax</FONT> income (before or after allocation of corporate
overhead and bonus); earnings per share; net income (before or after taxes); (vi) return on equity; (vii)&nbsp;total shareholder return; (viii)&nbsp;return on assets or net assets; (ix)&nbsp;appreciation in and/or maintenance of the price of the
Shares or any other publicly-traded securities of the Company; (x)&nbsp;market share; gross profits; (xi)&nbsp;earnings (including earnings before taxes, earnings before interest and taxes or earnings before interest, taxes, depreciation and
amortization); (xii) economic value-added models or equivalent metrics; (xiii)&nbsp;comparisons with various stock market indices; (xiv)&nbsp;reductions in costs; (xv)&nbsp;cash flow or cash flow per share (before or after dividends); (xvi) return
on capital (including return on total capital or return on invested capital); (xvii) cash flow return on investment; (xviii)&nbsp;improvement in or attainment of expense levels or working capital levels; (xiv)&nbsp;operating margins, gross margins
or cash margin; <FONT STYLE="white-space:nowrap">(xx)&nbsp;year-end</FONT> cash; (xxi)&nbsp;debt reduction; (xxii)&nbsp;stockholder equity; (xxiii)&nbsp;financing and other capital raising transactions (including sales of the Company&#146;s equity
or debt securities); (xxiv) factoring transactions; sales or licenses of the Company&#146;s assets, including its intellectual property, whether in a particular jurisdiction or territory or globally; or through partnering transactions; and
(xxv)&nbsp;implementation, completion or attainment of measurable objectives with respect to research, development, manufacturing, commercialization, products or projects, production volume levels, acquisitions and divestitures and recruiting and
maintaining personnel. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) Such performance goals also may be based solely by reference to the Company&#146;s performance or the performance of a
Subsidiary, division, business segment or business unit of the Company, or based upon the relative performance of other companies or upon comparisons of any of the indicators of performance relative to other companies. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) The Committee may also exclude charges related to an event or occurrence which the Committee determines should appropriately be excluded, including
(i)&nbsp;restructuring and/or other nonrecurring charges (including but not limited to the effect of tax or legal settlements); (ii) exchange rate effects, as applicable, for <FONT STYLE="white-space:nowrap">non-U.S.</FONT> dollar denominated net
sales and operating earnings; (iii)&nbsp;the effects of changes to generally accepted accounting standards required by the Financial Accounting Standards Board; (iv)&nbsp;to exclude the effects of any statutory adjustments to corporate tax rates;
(v)&nbsp;stock-based compensation expense determined under generally accepted accounting principles; (vi)&nbsp;any other unusual, <FONT STYLE="white-space:nowrap">non-recurring</FONT> gain or loss or extraordinary item; (vii)&nbsp;a response to, or
in anticipation of, any unusual or extraordinary corporate item, transaction, event or development; (viii)&nbsp;a response to, or in anticipation of, changes in applicable laws, regulations, accounting principles, or business conditions;
(ix)&nbsp;the dilutive effects of acquisitions or joint ventures; (x)&nbsp;the assumption that any business divested by S&amp;W achieved performance objectives at targeted levels during the balance of a performance period following such
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divestiture; (xi)&nbsp;the effect of any change in the outstanding shares of our common stock by reason of any stock dividend or split, stock repurchase, reorganization, recapitalization, merger,
consolidation, <FONT STYLE="white-space:nowrap">spin-off,</FONT> combination or exchange of shares or other similar corporate change, or any distributions to common shareholders other than regular cash dividends; (xii)&nbsp;the reflection of a
corporate transaction, such as a merger, consolidation, separation (including a spinoff or other distribution of stock or property by a corporation), or reorganization (whether or not such reorganization comes within the definition of such term in
Section&nbsp;368 of the Code); (xiii) the reflection of any partial or complete corporate liquidation; (xiv)&nbsp;the effect of <FONT STYLE="white-space:nowrap">in-process</FONT> research and development expenses; and (xv)&nbsp;the income tax effect
of <FONT STYLE="white-space:nowrap">non-GAAP</FONT> <FONT STYLE="white-space:nowrap">pre-tax</FONT> adjustments from the provision for income taxes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d)
Such performance goals shall be set by the Committee within the time period prescribed by, and shall otherwise comply with the requirements of, Section&nbsp;162(m) of the Code, and the regulations thereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>10.3. </B><I>Adjustments</I>. Notwithstanding any provision of the Plan, with respect to any Restricted Stock Award, Restricted Stock Unit Award,
Performance Award or Other Share-Based Award that is subject to this Article 10, the Committee may adjust downwards, but not upwards, the amount payable pursuant to such Award, and the Committee may not waive the achievement of the applicable
performance goals, except in the case of the death or disability of the Participant or as otherwise determined by the Committee in special circumstances. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>10.4. </B><I>Restrictions</I>. The Committee shall have the power to impose such other restrictions on Awards subject to this Article 10 as it may deem
necessary or appropriate to ensure that such Awards satisfy all requirements for &#147;performance-based compensation&#148; within the meaning of Section&nbsp;162(m) of the Code. In no event shall the number of Shares that are subject to
performance-based vesting conditions and which are granted to any Participant in a single calendar year exceed 500,000 Shares, subject to adjustment in accordance with Section&nbsp;11.1. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11. ADJUSTMENTS UPON CHANGES IN COMMON STOCK; CORPORATE TRANSACTIONS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11.1</B>. <I>Capitalization Adjustments</I><B>.</B><B></B>&nbsp;If any change is made in, or other events occur with respect to, the Common Stock subject to
the Plan or subject to any Stock Award after the effective date of the Plan set forth in Section&nbsp;13 without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock
dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other transaction not involving the receipt of consideration by the Company (each a
&#147;Capitalization Adjustment&#148;)), the Board shall appropriately and proportionately adjust: (i)&nbsp;the class(es) and maximum number of securities subject to the Plan pursuant to Section&nbsp;3.1(a), (ii) the class(es) and maximum number of
securities that may be issued pursuant to the exercise of Incentive Stock Options pursuant to Section&nbsp;3.1(a), (iii) the class(es) and maximum number of securities that may be awarded to any person pursuant to Sections 4.2(g) and 10.4, and
(iv)&nbsp;the class(es) and number of securities and price per share of stock subject to outstanding Awards. The Board shall make such adjustments, and its determination shall be final, binding and conclusive. Notwithstanding the foregoing, the
conversion of any convertible securities of the Company shall not be treated as a transaction &#147;without receipt of consideration&#148; by the Company. </P>
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<B>11.2. </B><I>Dissolution or Liquidation</I><B>.</B>&nbsp;In the event of a dissolution or liquidation of the Company, all outstanding Awards (other than Awards consisting of vested and
outstanding shares of Common Stock not subject to a forfeiture condition or the Company&#146;s right of repurchase) shall terminate immediately prior to the completion of such dissolution or liquidation, and the shares of Common Stock subject to the
Company&#146;s repurchase option or subject to the forfeiture condition may be repurchased or reacquired by the Company notwithstanding the fact that the holder of such Award is providing Continuous Service,<I>&nbsp;provided, however</I>, that the
Board may, in its sole discretion, cause some or all Awards to become fully vested, exercisable and/or no longer subject to repurchase or forfeiture (to the extent such Awards have not previously expired or terminated) before the dissolution or
liquidation is completed but contingent on its completion. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11.3. </B><I>Corporate Transaction</I><B>.</B><B></B>&nbsp;The following provisions shall
apply to Awards in the event of a Corporate Transaction unless otherwise provided in a written agreement between the Company or any Affiliate and the holder of the Award or unless otherwise expressly provided by the Board at the time of grant of a
Award: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) In the event of a Corporate Transaction, any surviving corporation or acquiring corporation (or the surviving or acquiring corporation&#146;s
parent company) may assume or continue any or all Awards outstanding under the Plan or may substitute similar stock awards for Awards outstanding under the Plan (including, but not limited to, awards to acquire the same consideration paid to the
stockholders of the Company pursuant to the Corporate Transaction), and any reacquisition or repurchase rights held by the Company in respect of Common Stock issued pursuant to Awards may be assigned by the Company to the successor of the Company
(or the successor&#146;s parent company, if any), in connection with such Corporate Transaction. A surviving corporation or acquiring corporation may choose to assume or continue only a portion of a Stock Award or substitute a similar stock award
for only a portion of a Stock Award. The terms of any assumption, continuation or substitution shall be set by the Board in accordance with the provisions of Section&nbsp;4.2(b). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) In the event of a Corporate Transaction in which the surviving corporation or acquiring corporation (or its parent company) does not assume or continue any
or all outstanding Awards or substitute similar stock awards for such outstanding Awards, then with respect to Awards that have not been assumed, continued or substituted and that are held by Participants whose Continuous Service has not terminated
prior to the effective time of the Corporate Transaction (referred to as the &#147;Current Participants&#148;), the vesting of such Awards (and, if applicable, the time at which such Stock Awards may be exercised) shall (contingent upon the
effectiveness of the Corporate Transaction) be accelerated in full to a date prior to the effective time of such Corporate Transaction as the Board shall determine (or, if the Board shall not determine such a date, to the date that is five days
prior to the effective time of the Corporate Transaction), and such Awards shall terminate if not exercised (if applicable) at or prior to the effective time of the Corporate Transaction, and any reacquisition or repurchase rights held by the
Company with respect to such Awards shall lapse (contingent upon the effectiveness of theCorporate Transaction). No vested Restricted Stock Unit Award shall terminate pursuant to this Section 11.3(b) without being settled by delivery of shares of
Common Stock, their cash equivalent, any combination thereof, or in any other form of consideration, as determined by the Board, prior to the effective time of the Corporate Transaction. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) In the event of a Corporate Transaction in which the surviving corporation or acquiring corporation (or
its parent company) does not assume or continue any or all outstanding Awards or substitute similar stock awards for such outstanding Awards, then with respect to Awards that have not been assumed, continued or substituted and that are held by
persons other than Current Participants, the vesting of such Awards (and, if applicable, the time at which such Award may be exercised) shall not be accelerated and such Awards (other than a Award consisting of vested and outstanding shares of
Common Stock not subject to the Company&#146;s right of repurchase) shall terminate if not exercised (if applicable) prior to the effective time of the Corporate Transaction;<I>&nbsp;provided, however</I>, that any reacquisition or repurchase rights
held by the Company with respect to such Awards shall not terminate and may continue to be exercised notwithstanding the Corporate Transaction. No vested Restricted Stock Unit Award shall terminate pursuant to this Section&nbsp;11.3(c) without being
settled by delivery of shares of Common Stock, their cash equivalent, any combination thereof, or in any other form of consideration, as determined by the Board, prior to the effective time of the Corporate Transaction. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding the foregoing, in the event a Award will terminate if not exercised prior to the effective time of a Corporate Transaction, the Board may
provide, in its sole discretion, that the holder of such Award may not exercise such Award but will receive a payment, in such form as may be determined by the Board, equal in value to the excess, if any, of (i)&nbsp;the value of the property the
holder of the Award would have received upon the exercise of the Award immediately prior to the effective time of the Corporate Transaction, over (ii)&nbsp;any exercise price payable by such holder in connection with such exercise. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>11.4.</B> <I>Change in Control.</I>&nbsp;An Award may be subject to additional acceleration of vesting and exercisability upon or after a Change in Control
as may be provided in the agreement for such Award or as may be provided in any other written agreement between the Company or any Affiliate and the Participant. An Award may vest as to all or any portion of the shares subject to the Award
(i)&nbsp;immediately upon the occurrence of a Change in Control, whether or not such Award is assumed, continued, or substituted by a surviving or acquiring entity in the Change in Control, or (ii)&nbsp;in the event a Participant&#146;s Continuous
Service is terminated, actually or constructively, within a designated period following the occurrence of a Change in Control. In the absence of such provisions, no such acceleration shall occur. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12. GENERALLY APPLICABLE PROVISIONS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.1.
</B><I>Amendment and Termination of the Plan</I>. The Board may, without shareholder approval, from time to time, alter, amend, suspend or terminate the Plan as it shall deem advisable, including increasing the number of securities available for
issuance under the Plan. No amendments to, or termination of, the Plan shall impair the rights of a Participant under any Award previously granted without such Participant&#146;s consent. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.2. </B><I>Transferability of Awards</I>. Except as provided elsewhere herein, no Award and no Shares
that have not been issued or as to which any applicable restriction, performance or deferral period has not lapsed, may be sold, assigned, transferred, pledged or otherwise encumbered, other than by will or the laws of descent and distribution, and
such Award may be exercised during the life of the Participant only by the Participant or the Participant&#146;s guardian or legal representative. To the extent and under such terms and conditions as determined by the Board, a Participant may assign
or transfer an Award (each transferee thereof, a &#147;Permitted Assignee&#148;) to (i)&nbsp;the Participant&#146;s spouse, children or grandchildren (including any adopted and step children or grandchildren), parents, grandparents or siblings,
(ii)&nbsp;to a trust for the benefit of one or more of the Participant or the persons referred to in clause (i), or (iii)&nbsp;to a partnership, limited liability company or corporation in which the Participant or the persons referred to in clause
(i)&nbsp;are the only partners, members or stockholders; provided that such Permitted Assignee shall be bound by and subject to all of the terms and conditions of the Plan and the Award Agreement relating to the transferred Award and shall execute
an agreement satisfactory to the Company evidencing such obligations; and provided further that such Participant shall remain bound by the terms and conditions of the Plan. The Company shall cooperate with any Permitted Assignee and the
Company&#146;s transfer agent in effectuating any transfer permitted under this Section. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.3. </B><I>Termination of Employment</I>. The Board shall
determine and set forth in each Award Agreement whether any Awards granted in such Award Agreement will continue to be exercisable, continue to vest or be earned and the terms of such exercise, vesting or earning, on and after the date that a
Participant ceases to be employed by or to provide services to the Company or any Subsidiary (including as a Director), whether by reason of death, disability, voluntary or involuntary termination of employment or services, or otherwise. The date of
termination of a Participant&#146;s employment or services will be determined by the Board, which determination will be final. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>12.4.
</B><I>Deferral</I>;<I>&nbsp;Dividend Equivalents</I>. The Board shall be authorized to establish procedures pursuant to which the payment of any Award may be deferred. Subject to the provisions of the Plan and any Award Agreement, the recipient of
an Award may, if so determined by the Board, be entitled to receive, currently or on a deferred basis, cash, stock or other property dividends in amounts equivalent to cash, stock or other property dividends on Shares (&#147;Dividend
Equivalents&#148;) with respect to the number of Shares covered by the Award, as determined by the Board, in its sole discretion. The Board may provide that such amounts and Dividend Equivalents (if any) shall be deemed to have been reinvested in
additional Shares or otherwise reinvested and may provide that such amounts and Dividend Equivalents are subject to the same vesting or performance conditions as the underlying Award. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13. MISCELLANEOUS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.1. </B><I>Award Agreements</I>.
Each Award Agreement shall either be (a)&nbsp;in writing in a form approved by the Board and executed by the Company by an officer duly authorized to act on its behalf, or (b)&nbsp;an electronic notice in a form approved by the Board and recorded by
the Company (or its designee) in an electronic recordkeeping system used for the purpose of tracking one or more types of Awards as the Board may provide; in each case and if required by the Board, the Award Agreement shall be executed or otherwise
electronically accepted by the recipient of the </P>
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Award in such form and manner as the Board may require. The Board may authorize any officer of the Company to execute any or all Award Agreements on behalf of the Company. The Award Agreement
shall set forth the material terms and conditions of the Award as established by the Board consistent with the provisions of the Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.2. </B><I>Tax
Withholding</I>. The Company shall have the right to make all payments or distributions pursuant to the Plan to a Participant (or a Permitted Assignee thereof) (any such person, a &#147;Payee&#148;) net of any applicable federal, state and local
taxes required to be paid or withheld as a result of (a)&nbsp;the grant of any Award, (b)&nbsp;the exercise of an Option or Stock Appreciation Right, (c)&nbsp;the delivery of Shares or cash, (d)&nbsp;the lapse of any restrictions in connection with
any Award or (e)&nbsp;any other event occurring pursuant to the Plan. The Company or any Subsidiary shall have the right to withhold from wages or other amounts otherwise payable to such Payee such withholding taxes as may be required by law, or to
otherwise require the Payee to pay such withholding taxes. If the Payee shall fail to make such tax payments as are required, the Company or its Subsidiaries shall, to the extent permitted by law, have the right to deduct any such taxes from any
payment of any kind otherwise due to such Payee or to take such other action as may be necessary to satisfy such withholding obligations. The Committee shall be authorized to establish procedures for election by Participants to satisfy such
obligation for the payment of such taxes by tendering previously acquired Shares (either actually or by attestation, valued at their then Fair Market Value), or by directing the Company to retain Shares (up to the Participant&#146;s minimum required
tax withholding rate or such other rate that will not cause an adverse accounting consequence or cost) otherwise deliverable in connection with the Award. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.3. </B><I>Right of Discharge Reserved; Claims to Awards</I>. Nothing in the Plan nor the grant of an Award hereunder shall confer upon any Employee,
Director or Consultant the right to continue in the employment or service of the Company or any Subsidiary or affect any right that the Company or any Subsidiary may have to terminate the employment or service of (or to demote or to exclude from
future Awards under the Plan) any such Employee, Director or Consultant at any time for any reason. Except as specifically provided by the Board, the Company shall not be liable for the loss of existing or potential profit from an Award granted in
the event of termination of an employment or other relationship. No Employee, Director or Consultant shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity of treatment of Employees, Directors
Consultants or Participants under the Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.4. </B><I>Substitute Awards</I>. Notwithstanding any other provision of the Plan, the terms of
Substitute Awards may vary from the terms set forth in the Plan to the extent the Board deems appropriate to conform, in whole or in part, to the provisions of the awards in substitution for which they are granted. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.5. </B><I>Cancellation of Award; Forfeiture of Gain</I>. Notwithstanding anything to the contrary contained herein, an Award Agreement may provide that
the Award shall be canceled if the Participant, without the consent of the Company, while employed by the Company or any Subsidiary or after termination of such employment or service, violates a <FONT STYLE="white-space:nowrap">non-</FONT>
competition, <FONT STYLE="white-space:nowrap">non-solicitation</FONT> or <FONT STYLE="white-space:nowrap">non-disclosure</FONT> covenant or agreement or otherwise engages in activity that is in conflict with or adverse to the interest of the Company
or any Subsidiary (including conduct contributing to any financial restatements or financial irregularities), as determined by the Board </P>
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in its sole discretion. The Board may provide in an Award Agreement that if within the time period specified in the Agreement the Participant establishes a relationship with a competitor or
engages in an activity referred to in the preceding sentence, the Participant will forfeit any gain realized on the vesting or exercise of the Award and must repay such gain to the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.6. </B><I>Stop Transfer Orders</I>. All certificates for Shares delivered under the Plan pursuant to any Award shall be subject to such stop-transfer
orders and other restrictions as the Board may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Shares are then listed, and any applicable federal or
state securities law, and the Board may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.7. </B><I>Nature of Payments</I>. All Awards made pursuant to the Plan are in consideration of services performed or to be performed for the Company or
any Subsidiary, division or business unit of the Company. Any income or gain realized pursuant to Awards under the Plan constitutes a special incentive payment to the Participant and shall not be taken into account, to the extent permissible under
applicable law, as compensation for purposes of any of the employee benefit plans of the Company or any Subsidiary except as may be determined by the Board. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.8. </B><I>Other Plans</I>. Nothing contained in the Plan shall prevent the Board from adopting other or additional compensation arrangements, subject to
stockholder approval if such approval is required; and such arrangements may be either generally applicable or applicable only in specific cases. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.9.
</B><I>Unfunded Status of the Plan.</I><I></I>&nbsp;The Plan is intended to constitute an &#147;unfunded&#148; plan for incentive compensation. With respect to any payments not yet made to a Participant by the Company, nothing contained herein shall
give any such Participant any rights that are greater than those of a general creditor of the Company. In its sole discretion, the Board may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to
deliver the Shares or payments in lieu of or with respect to Awards hereunder; provided, however, that the existence of such trusts or other arrangements is consistent with the unfunded status of the Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.10. </B><I>Foreign Employees</I>. Awards may be granted to Participants who are foreign nationals or employed outside the United States, or both, on such
terms and conditions different from those applicable to Awards to Employees, Directors or Consultants providing services in the United States as may, in the judgment of the Board, be necessary or desirable in order to recognize differences in local
law or tax policy. The Board also may impose conditions on the exercise or vesting of Awards in order to minimize the Company&#146;s obligation with respect to tax equalization for Employees or Consultants on assignments outside their home country.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.11. </B><I>Compliance with Section</I><I></I><I>&nbsp;409A of the Code.</I><I></I>&nbsp;This Plan is intended to comply and shall be administered in
a manner that is intended to comply with Section&nbsp;409A of the Code and shall be construed and interpreted in accordance with such intent. To the extent that an Award or the payment, settlement or deferral thereof is subject to Section&nbsp;409A
of the Code, the Award shall be granted, paid, settled or deferred in a manner that will comply with Section&nbsp;409A of the Code, </P>
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including regulations or other guidance issued with respect thereto, except as otherwise determined by the Committee. Any provision of this Plan that would cause the grant of an Award or the
payment, settlement or deferral thereof to fail to satisfy Section&nbsp;409A of the Code shall be amended to comply with Section&nbsp;409A of the Code on a timely basis, which may be made on a retroactive basis, in accordance with regulations and
other guidance issued under Section&nbsp;409A of the Code. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.12</B>. <I>Limitations on Liability</I>. Notwithstanding any other provisions of the
Plan, no individual acting as a director, officer, other employee, or agent of the Company will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred in
connection with the Plan, nor will such individual be personally liable with respect to the Plan because of any contract or other instrument he or she executes in his or her capacity as a director, officer, other employee, or agent of the Company.
The Company will indemnify and hold harmless each director, officer, other employee, or agent of the Company to whom any duty or power relating to the administration or interpretation of the Plan has been or will be delegated, against any cost or
expense (including attorneys&#146; fees) or liability (including any sum paid in settlement of a claim with the Board&#146;s approval) arising out of any act or omission to act concerning this Plan unless arising out of such person&#146;s own fraud
or bad faith. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.13. </B><I>Intentional Omitted.</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.14.</B> <I>Use of Proceeds</I>. Proceeds from the sale of shares of Common Stock pursuant to Stock Awards shall constitute general funds of the Company.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.15. </B><I>Investment Assurances</I><B>.</B>&nbsp;The Company may require a Participant, as a condition of exercising or acquiring Common Stock
under any Award, (i)&nbsp;to give written assurances satisfactory to the Company as to the Participant&#146;s knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the
Company who is knowledgeable and experienced in financial and business matters and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Award; and (ii)&nbsp;to give
written assurances satisfactory to the Company stating that the Participant is acquiring Common Stock subject to the Award for the Participant&#146;s own account and not with any present intention of selling or otherwise distributing the Common
Stock. The foregoing requirements, and any assurances given pursuant to such requirements, shall be inoperative if (i)&nbsp;the issuance of the shares upon the exercise or acquisition of Common Stock under the Award has been registered under a then
currently effective registration statement under the Securities Act, or (ii)&nbsp;as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then
applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws,
including, but not limited to, legends restricting the transfer of the Common Stock. </P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.16.</B> <I>Securities Law Compliance</I>. The Company shall seek to obtain from each regulatory
commission or agency having jurisdiction over the Plan such authority as may be required to grant Awards and to issue and sell shares of Common Stock upon exercise of the Awards;<I>&nbsp;provided, however</I>, that this undertaking shall not require
the Company to register under the Securities Act the Plan, any Award or any Common Stock issued or issuable pursuant to any such Award. If, after reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the
authority that counsel for the Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Common Stock upon exercise of such Awards unless
and until such authority is obtained. A Participant shall not be eligible for the grant of a Stock Award or the subsequent issuance of Common Stock pursuant to the Stock Award if such grant or issuance would be in violation of any applicable
securities laws. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.17. </B><I>Withholding Obligations.</I>&nbsp;Unless prohibited by the terms of a Stock Award Agreement or the written terms of a
Performance Cash Award, the Company may, in its sole discretion, satisfy any federal, state or local tax withholding obligation relating to an Award by any of the following means (in addition to the Company&#146;s right to withhold from any
compensation paid to the Participant by the Company) or by a combination of such means: (i)&nbsp;causing the Participant to tender a cash payment; (ii)&nbsp;withholding shares of Common Stock from the shares of Common Stock issued or otherwise
issuable to the Participant in connection with a Stock Award;<I>&nbsp;provided, however</I>, that no shares of Common Stock are withheld with a value exceeding the minimum amount of tax required to be withheld by law (or such lower amount as may be
necessary to avoid classification of the Stock Award as a liability for financial accounting purposes); (iii) withholding cash from an Award settled in cash; (iv)&nbsp;withholding payment from any amounts otherwise payable to the Participant; or
(v)&nbsp;by such other method as may be set forth in the Award agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.18.</B> <I>Electronic Delivery.</I>&nbsp;Any reference herein to a
&#147;written&#148; agreement or document shall include any agreement or document delivered electronically, filed publicly at www.sec.gov (or any successor website thereto) or posted on the Company&#146;s intranet. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.19. </B><I>Deferrals.</I><I></I>&nbsp;To the extent permitted by applicable law, the Board, in its sole discretion, may determine that the delivery of
Common Stock or the payment of cash, upon the exercise, vesting or settlement of all or a portion of any Award may be deferred and may establish programs and procedures for deferral elections to be made by Participants. Deferrals by Participants
will be made in accordance with Section&nbsp;409A of the Code. Consistent with Section&nbsp;409A of the Code, the Board may provide for distributions while a Participant is still an employee or otherwise providing services to the Company. The Board
is authorized to make deferrals of Awards and determine when, and in what annual percentages, Participants may receive payments, including lump sum payments, following the Participant&#146;s termination of Continuous Service, and implement such
other terms and conditions consistent with the provisions of the Plan and in accordance with applicable law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.20. </B><I><FONT
STYLE="white-space:nowrap">Non-Exempt</FONT> Employees.</I>&nbsp;No Award granted to an Employee who is a <FONT STYLE="white-space:nowrap">non-exempt</FONT> employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be first
exercisable for any shares of Common Stock until at least six months following the date of grant. Notwithstanding the foregoing, consistent with the provisions of the Worker Economic Opportunity Act, (i)&nbsp;in the event of the Participant&#146;s
death or Disability, (ii)&nbsp;upon a Corporate Transaction in which such Award is not assumed, continued, or substituted, (iii)&nbsp;upon a Change </P>
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in Control, or (iv)&nbsp;upon the Participant&#146;s retirement (as such term may be defined in the Participant&#146;s Stock Award agreement or another applicable agreement or in accordance with
the Company&#146;s then current employment policies and guidelines), any vested Awards may be exercised earlier than six months following the date of grant. The foregoing provision is intended to operate so that any income derived by a <FONT
STYLE="white-space:nowrap">non-exempt</FONT> employee in connection with the exercise or vesting of a Award will be exempt from his or her regular rate of pay. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.21. </B><I>No Obligation to Notify or Minimize Taxes; Company may Pay Individual Tax Liability.</I><I></I>&nbsp;The Company shall have no duty or
obligation to any Participant to advise such holder as to the time or manner of exercising such Award. Furthermore, the Company shall have no duty or obligation to warn or otherwise advise such holder of a pending termination or expiration of a
Award or a possible period in which the Award may not be exercised. The Company has no duty or obligation to minimize the tax consequences of a Award to the holder of such Stock Award. The foregoing notwithstanding, in the sole discretion of the
Plan Administrator, the Company may, but is under no obligation to, agree to pay all or a portion of the individual tax liability of one or more Plan Participants whose awards do not satisfy the conditions for exemption under Code section 409A. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.22. </B><I>Corporate Action Constituting Grant of Stock Awards.</I>&nbsp;Corporate action constituting a grant by the Company of an Award to any
Participant shall be deemed completed as of the date of such corporate action, unless otherwise determined by the Board, regardless of when the instrument, certificate, or letter evidencing the Award is communicated to, or actually received or
accepted by, the Participant. In the event that the corporate records (<I>e.g.</I>, Board consents, resolutions or minutes) documenting the corporate action constituting the grant contain terms (<I>e.g.</I>, exercise price, vesting schedule or
number of shares) that are inconsistent with those in the Award Agreement or the written terms of a Performance Cash Award as a result of a clerical error in the papering of the Award agreement, the corporate records will control. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.23. </B><I>Governing Law</I>. The Plan and all determinations made and actions taken thereunder, 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 Delaware, without reference to principles of conflict of laws, and construed accordingly. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.24. </B><I>Effective Date of Plan; Termination of Plan</I>. The Plan originally became effective on July&nbsp;1, 2018. Awards may be granted under the
Plan at any time and from time to time on or prior to the fifth anniversary of the effective date of the Plan, on which date the Plan will expire except as to Awards then outstanding under the Plan. Such outstanding Awards shall remain in effect
until they have been exercised or terminated, or have expired. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.25. </B><I>Construction</I>. As used in the Plan, the words
&#147;<I>include</I>&#148; and &#147;<I>including</I>,&#148; and variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words &#147;<I>without limitation</I>.&#148; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.26.</B><B><I> </I></B><I>Captions</I>. The captions in the Plan are for convenience of reference only, and are not intended to narrow, limit or affect
the substance or interpretation of the provisions contained herein. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>13.27. </B><I>Severability</I>. If any provision of the Plan shall be held unlawful or otherwise invalid
or unenforceable in whole or in part by a court of competent jurisdiction, such provision shall (a)&nbsp;be deemed limited to the extent that such court of competent jurisdiction deems it lawful, valid and/or enforceable and as so limited shall
remain in full force and effect, and (b)&nbsp;not affect any other provision of the Plan or part thereof, each of which shall remain in full force and effect. If the making of any payment or the provision of any other benefit required under the Plan
shall be held unlawful or otherwise invalid or unenforceable by a court of competent jurisdiction, such unlawfulness, invalidity or unenforceability shall not prevent any other payment or benefit from being made or provided under the Plan, and if
the making of any payment in full or the provision of any other benefit required under the Plan in full would be unlawful or otherwise invalid or unenforceable, then such unlawfulness, invalidity or unenforceability shall not prevent such payment or
benefit from being made or provided in part, to the extent that it would not be unlawful, invalid or unenforceable, and the maximum payment or benefit that would not be unlawful, invalid or unenforceable shall be made or provided under the Plan.
</P>
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