HUNTINGTON INGALLS INDUSTRIES, INC.
EX-10.38
<DOCUMENT>
<TYPE>EX-10.38
<SEQUENCE>5
<FILENAME>hii-ex1038202310xk.htm
<DESCRIPTION>EX-10.38
<TEXT>
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<title>Document</title></head><body><div id="ie7202db9e0d14b9eaeda4f46e34ffe57_1"></div><div style="min-height:57.6pt;width:100%"><div style="margin-bottom:10pt;padding-left:360pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:133%">EXHIBIT 10.38</font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:100%">HUNTINGTON INGALLS INDUSTRIES, INC.<br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">TERMS AND CONDITIONS APPLICABLE TO</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">20__ CLIFF VESTING RESTRICTED STOCK RIGHTS<br>GRANTED UNDER THE 2022 LONG-TERM INCENTIVE STOCK PLAN (&#8220;PLAN&#8221;)</font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:10pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">These Terms and Conditions (&#8220;Terms&#8221;) apply to certain &#8220;Restricted Stock Rights&#8221; (&#8220;RSRs&#8221;) granted by Huntington Ingalls Industries, Inc. (the &#8220;Company&#8221;) in 20__.  If you were granted an RSR award by the Company in 20__, the date of grant of your RSR award (the &#8220;Grant Date&#8221;) and the number of RSRs applicable to your award are set forth in the letter from the Company announcing your RSR award grant (your &#8220;Grant Letter&#8221;) and are also reflected in the electronic stock plan award recordkeeping system (&#8220;Stock Plan System&#8221;) maintained by the Company or its designee.  These Terms apply only with respect to the 20__ RSR award.  If you were granted an RSR award, you are referred to as the &#8220;Grantee&#8221; with respect to your award.  Capitalized terms are generally defined in the Plan, unless defined in Section 8 below or elsewhere defined herein.</font></div><div style="margin-bottom:3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Each RSR represents a right to receive one Share of the Company&#8217;s common stock, or cash of equivalent value as provided herein, subject to vesting as provided herein.  The number of RSRs subject to your award is subject to adjustment as provided herein.  The RSR award is subject to all of the terms and conditions set forth in these Terms, and is further subject to all of the terms and conditions of the Plan, as it may be amended from time to time, and any rules adopted by the Committee, as such rules are in effect from time to time.</font></div><div style="text-indent:72pt"><font><br></font></div><div id="ie7202db9e0d14b9eaeda4f46e34ffe57_4"></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.376%"><div style="margin-bottom:10pt;padding-left:22.3pt;text-indent:-22.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:14.8pt;text-decoration:underline">Vesting&#59; Issuance of Shares</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Subject to Sections 2 and 5 below, one-hundred percent (100%) of the number of RSRs subject to your award (subject to adjustment as provided in Section 5.1) shall vest upon the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#91;first, second, or third&#93;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> anniversary of the Grant Date.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Except as otherwise provided below, the Company shall pay a vested RSR on or before March 15 of the year following the vesting of the RSR on the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#91;first, second, or third&#93;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> anniversary of the Grant Date.  The Company shall pay such vested RSRs in either an equivalent number of Shares of common stock, or, in the discretion of the Committee, in cash or in a combination of Shares of common stock and cash.  In the event of a cash payment, the amount of the payment for a vested RSR to be paid in cash (subject to tax withholding as provided in Section 6 below) will equal the Fair Market Value of a Share of common stock as of the date that such RSR became vested.  No fractional shares will be issued. </font></div><div style="margin-bottom:10pt;padding-left:22.3pt;text-indent:-22.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:14.8pt;text-decoration:underline">Early Termination of Award&#59; Termination of Employment</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">General</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">  </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The RSRs subject to the award, to the extent not previously vested, shall terminate and become null and void if and when (a) the award terminates in connection with a Change in Control pursuant to Section 5 below, or (b) except as provided in Section 2.6 and in Section 5, the Grantee ceases for any reason to be an employee of the Company or one of its subsidiaries.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Leave of Absence</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  Unless the Committee otherwise provides (at the time of the leave or otherwise), if the Grantee is granted a leave of absence by the Company, the Grantee (a) shall not be deemed to have incurred a termination of employment at the time such leave commences for purposes of the award, and (b) shall be deemed to be employed by the Company for the duration of such approved leave of absence for purposes of the award.  A termination of employment shall be deemed to have occurred if the Grantee does not timely return to active employment upon the expiration of such </font></div></div><div style="display:inline-block;max-width:7.246%;min-width:6.246%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.378%"><div style="margin-bottom:10pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">approved leave or if the Grantee commences a leave that is not approved by the Company.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.3&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Salary Continuation</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  Subject to Section 2.2 above, the term &#8220;employment&#8221; as used herein means active employment by the Company and salary continuation without active employment (other than a leave of absence approved by the Company that is covered by Section 2.2) will not, in and of itself, constitute &#8220;employment&#8221; for purposes hereof (in the case of salary continuation without active employment, the Grantee&#8217;s cessation of active employee status shall, subject to Section 2.2, be deemed to be a termination of &#8220;employment&#8221; for purposes hereof).  Furthermore, salary continuation will not, in and of itself, constitute a leave of absence approved by the Company for purposes of the award.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.4&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Sale or Spinoff of Subsidiary or Business Unit</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  For purposes of the RSRs subject to the award, a termination of employment of the Grantee shall be deemed to have occurred if the Grantee is employed by a subsidiary or business unit and that subsidiary or business unit is sold, spun off, or otherwise divested, the Grantee does not otherwise continue to be employed by the Company after such event, and the divested entity or business (or its successor or a parent company) does not assume the award in connection with such transaction. </font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.5&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Continuance of Employment Required</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  Except as expressly provided in Section 2.6 and in Section 5, the vesting of the RSRs subject to the award requires continued employment through the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#91;first, second, or third&#93;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> anniversary of the Grant Date as a condition to the vesting of any portion of the award.  Employment for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment.  Nothing contained in these Terms, the Stock Plan System, or the Plan constitutes an employment commitment by the Company or any subsidiary, affects the Grantee&#8217;s status (if the Grantee is otherwise an at-will employee) as an employee at will who is subject to termination without cause, confers </font></div></div></div><div style="height:57.6pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:91%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:91%">1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:57.6pt;width:100%"><div style="margin-bottom:10pt;padding-left:360pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:133%">EXHIBIT 10.38</font></div></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.376%"><div style="margin-bottom:10pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">upon the Grantee any right to continue in the employ of the Company or any subsidiary, or interferes in any way with the right of the Company or of any subsidiary to terminate such employment at any time.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.6&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Death, Disability, Retirement, or Layoff</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  If the Grantee dies or incurs a Disability while employed by the Company or a subsidiary, the outstanding and previously unvested RSRs subject to the award shall vest as of the date of the Grantee&#8217;s death or Disability, as applicable.  RSRs vesting under this Section shall be paid within 2.5 months following the earlier of (a) Grantee&#8217;s death or (b) Grantee&#8217;s Disability.  In the event of the Grantee&#8217;s death prior to the delivery of shares or other payment with respect to any vested RSRs, the Grantee&#8217;s Successor shall be entitled to any payments to which the Grantee would have been entitled under these Terms with respect to such vested and unpaid RSRs.</font><font style="background-color:#ffff00;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The RSRs subject to the award shall vest on a prorated</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">basis as provided herein if the Grantee&#8217;s employment</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">by the Company and its subsidiaries terminates due</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">to Retirement, Government Service Retirement, or Layoff.  Such</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">prorating of RSRs shall be based on the number of</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">full months the Grantee was actually employed by</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Company or one of its subsidiaries after the Grant Date divided by the total number of months in the vesting period. Partial months of employment, even if substantial, shall not be counted for purposes of prorated vesting. Any RSRs subject to the award that do not vest in accordance with this Section 2.6 upon a termination of the Grantee&#8217;s employment due to Retirement, Government Service Retirement, or Layoff shall terminate immediately upon such termination of employment.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In determining the Grantee&#8217;s eligibility for Retirement, service is measured by dividing (a) the number of days the Grantee was employed by the Company or a subsidiary in the period commencing with his or her last date of hire by the Company or a subsidiary through and including the date on which the Grantee is last employed by the Company or a subsidiary, by (b) 365. If the Grantee ceased to be employed by the Company or a subsidiary and was later rehired by the Company or a subsidiary, the Grantee&#8217;s service prior to the break in service shall be disregarded in determining service for such purposes&#59; provided that, if the Grantee&#8217;s employment with the Company or a subsidiary had terminated due to the Grantee&#8217;s Retirement, or by the Company or a subsidiary as part of a reduction in force (in each case, other than a termination by the Company or a subsidiary for cause) and, within the two-year period following such termination of employment (the &#8220;break in service&#8221;) the Grantee was subsequently rehired by the Company or a subsidiary, then the Grantee&#8217;s period of service with the Company or a subsidiary prior to and ending with the break in service will be included in determining service for such purposes. In the event the Grantee is employed by a business that is acquired by the Company or a subsidiary, the Company shall have discretion to determine whether the Grantee&#8217;s service prior to the acquisition will be included in determining service for such purposes.</font></div></div><div style="display:inline-block;max-width:7.246%;min-width:6.246%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.378%"><div style="margin-bottom:10pt;padding-left:22.3pt;text-indent:-22.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:14.8pt;text-decoration:underline">Non-Transferability and Other Restrictions</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Non-Transferability</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  The award, as well as the RSRs subject to the award, are non-transferable and shall not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance or charge.  The foregoing transfer restrictions shall not apply to transfers to the Company or transfers by will or the laws of descent and distribution.  Notwithstanding the foregoing, the Company may honor any transfer required pursuant to the terms of a court order in a divorce or similar domestic relations matter to the extent that such transfer does not adversely affect the Company&#8217;s ability to register the offer and sale of the underlying shares on a Form S-8 Registration Statement and such transfer is otherwise in compliance with all applicable legal, regulatory and listing requirements.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Recoupment of Awards</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  Any payments or issuances of shares with respect to the award are subject to recoupment pursuant to the Company&#8217;s Policy Regarding the Recoupment of Certain Performance-Based Compensation Payments as in effect from time to time, as well as any recoupment or similar provisions of applicable law, and the Grantee shall promptly make any reimbursement requested by the Board or Committee pursuant to such policy or applicable law with respect to the award.  Further, the Grantee agrees, by accepting the award, that the Company and its affiliates may deduct from any amounts it may owe the Grantee from time to time (such as wages or other compensation) to the extent of any amounts the Grantee is required to reimburse the Company pursuant to such policy or applicable law with respect to the award.</font></div><div style="margin-bottom:10pt;padding-left:22.3pt;text-indent:-22.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:14.8pt;text-decoration:underline">Compliance with Laws&#59; No Stockholder Rights Prior to Issuance&#59; Dividend Equivalent Rights</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Compliance with Laws</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  The Company&#8217;s obligation to make any payments or issue any shares with respect to the award is subject to full compliance with all then applicable requirements of law, the Securities and Exchange Commission or other regulatory agencies having jurisdiction over the Company and its shares, and of any exchange upon which stock of the Company may be listed.  </font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Limitations on Rights Associated with RSRs.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">  The Grantee shall not have the rights and privileges of a stockholder, including without limitation the right to vote or receive dividends (except as expressly provided in Section 4.3), with respect to any shares which may be issued in respect of the RSRs until the date appearing on the certificate(s) for such shares (or, in the case of shares entered in book entry form, the date that the shares are actually recorded in such form for the benefit of the Grantee), if such shares become deliverable.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.3&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Dividend Equivalent Rights</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  Not later than 60 days following each date that the Company pays an ordinary cash dividend on its Shares of common stock (if any), the Company shall credit the Grantee with an additional number of RSRs equal to the quotient of (A) the product of (i) the per share cash dividend paid by the Company on its Shares of common stock on such date, multiplied by (ii) the total number of RSRs (including any dividend equivalents previously credited hereunder) </font></div></div></div><div style="height:57.6pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:91%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:91%">2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:57.6pt;width:100%"><div style="margin-bottom:10pt;padding-left:360pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:133%">EXHIBIT 10.38</font></div></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.376%"><div style="margin-bottom:10pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(with such total number adjusted pursuant to Section 5) subject to the RSR award as of the related dividend payment record date, divided by (B) the Fair Market Value of a Share of common stock on the date of payment of such dividend.  Any RSRs credited pursuant to the foregoing provisions of this Section 4.3 shall be subject to the same vesting, payment and other terms, conditions and restrictions as the original RSRs to which they relate.  No crediting of RSRs shall be made pursuant to this Section 4.3 with respect to any RSRs which, as of such record date, have been paid pursuant to Section 1.</font></div><div style="margin-bottom:10pt;padding-left:22.3pt;text-indent:-22.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:14.8pt;text-decoration:underline">Adjustments&#59; Change in Control</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5.1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Adjustments</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  The RSRs and the shares subject to the award are subject to adjustment upon the occurrence of events such as stock splits, stock dividends and other changes in capitalization in accordance with Section 4.3 of the Plan.  In the event of any adjustment, the Company will give the Grantee written notice thereof which will set forth the nature of the adjustment.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5.2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Possible Vesting Acceleration on Change in Control</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  Notwithstanding the Company&#8217;s ability to terminate the award as provided in Section 5.3 below, the outstanding and previously unvested RSRs subject to the award shall become fully vested as of the date of the Grantee&#8217;s termination of employment in the following circumstances&#58;</font></div><div style="margin-bottom:10pt;padding-left:36pt;text-indent:-22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160;if the Grantee is covered by a Change in Control Severance Arrangement at the time of the termination, if the termination of employment constitutes a &#8220;Qualifying Termination&#8221; (as such term, or any similar successor term, is defined in such Change in Control Severance Arrangement) that triggers the Grantee&#8217;s right to severance benefits under such Change in Control Severance Arrangement.</font></div><div style="margin-bottom:10pt;padding-left:36pt;text-indent:-22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(b)&#160;&#160;&#160;&#160;if the Grantee is not covered by a Change in Control Severance Arrangement at the time of the termination and if the termination occurs either within the Protected Period corresponding to a Change in Control of the Company or within twenty-four (24) calendar months following the date of a Change in Control of the Company, the Grantee&#8217;s employment by the Company and its subsidiaries is involuntarily terminated by the Company and its subsidiaries for reasons other than Cause or by the Grantee for Good Reason.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Notwithstanding anything else contained herein to the contrary, the termination of the Grantee&#8217;s employment (or other events giving rise to Good Reason) shall not entitle the Grantee to any accelerated vesting pursuant to clause (b) above if there is objective evidence that, as of the commencement of the Protected Period, the Grantee had specifically been identified by the Company as an employee whose employment would be terminated as part of a corporate restructuring or downsizing program that commenced prior to the Protected Period and such termination of employment was expected at that time to occur within six (6) months.  The applicable Change in Control Severance </font></div></div><div style="display:inline-block;max-width:7.246%;min-width:6.246%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.378%"><div style="margin-bottom:10pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Arrangement shall govern the matters addressed in this paragraph as to clause (a) above.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment of any amount due under this Section will be made on or before March 15 of the year following the year in which the date of the Grantee&#8217;s termination of employment occurs, unless the Grantee dies or has a Disability, in which case such payment will be made within 2.5 months following the date of the Grantee&#8217;s death or Disability, as the case may be.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5.3&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Automatic Vesting Acceleration&#59; Early Termination</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  If the Company undergoes a Change in Control triggered by clause (iii) or (iv) of the definition thereof and the Company is not the surviving entity and the successor to the Company (if any) (or a Parent thereof) does not agree in writing prior to the occurrence of the Change in Control to continue and assume the award following the Change in Control, or if for any other reason the award would not continue after the Change in Control, then upon the Change in Control the outstanding and previously unvested RSRs subject to the award shall vest fully and completely.  Unless the Committee expressly provides otherwise in the circumstances, no acceleration of vesting of the award shall occur pursuant to this Section 5.3 in connection with a Change in Control if either (a) the Company is the surviving entity, or (b) the successor to the Company (if any) (or a Parent thereof) agrees in writing prior to the Change in Control to assume the award.  The award shall terminate, subject to such acceleration provisions, upon a Change in Control triggered by clause (iii) or (iv) of the definition thereof in which the Company is not the surviving entity and the successor to the Company (if any) (or a Parent thereof) does not agree in writing prior to the occurrence of the Change in Control to continue and assume the award following the Change in Control.  The Committee may make adjustments pursuant to Section 6(a) of the Plan and&#47;or deem an acceleration of vesting of the award pursuant to this Section 5.3 to occur sufficiently prior to an event if necessary or deemed appropriate to permit the Grantee to realize the benefits intended to be conveyed with respect to the shares underlying the RSRs&#59; provided, however, that, the Committee shall reinstate the original terms of the award if the related event does not actually occur.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment of any amount due under this Section will be made on or before March 15 of the year following the year in which any accelerated vesting occurs as a result of a Change in Control, unless the Grantee dies or has a Disability prior to such Change in Control vesting, in which case such payment will be made within 2.5 months following the date of the Grantee&#8217;s death or Disability, as the case may be.</font></div><div style="margin-bottom:10pt;padding-left:22.3pt;text-indent:-22.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:14.8pt;text-decoration:underline">Tax Matters</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Tax Withholding</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">  </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The Company or the subsidiary which employs the Grantee shall be entitled to require, as a condition of making any payments or issuing any shares upon vesting of the RSRs, that the Grantee or other person entitled to such shares or other payment pay any sums required to be withheld by federal, state, local or other applicable tax law with respect to such vesting or payment.  Alternatively, the Company or such subsidiary, in its discretion, may make </font></div></div></div><div style="height:57.6pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:91%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:91%">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:57.6pt;width:100%"><div style="margin-bottom:10pt;padding-left:360pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:133%">EXHIBIT 10.38</font></div></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.376%"><div style="margin-bottom:10pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">such provisions for the withholding of taxes as it deems appropriate (including, without limitation, withholding the taxes due from compensation otherwise payable to the Grantee or reducing the number of shares otherwise deliverable with respect to the award (valued at their then Fair Market Value) by the amount necessary to satisfy such withholding obligations at the flat percentage rates applicable to supplemental wages).</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Transfer Taxes</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  The Company will pay all federal and state transfer taxes, if any, and other fees and expenses in connection with the issuance of shares in connection with the vesting of the RSRs.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.3&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Compliance with Code</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.  The Committee shall administer and construe the award, and may amend the Terms of the award, in a manner designed to comply with the Code and to avoid adverse tax consequences under Code Section 409A or otherwise.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.4&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Unfunded Arrangement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. The right of the Grantee to receive payment under the award shall be an unsecured contractual claim against the Company. As such, neither the Grantee nor any Successor shall have any rights in or against any specific assets of the Company based on the award. Awards shall at all times be considered entirely unfunded for tax purposes.</font></div><div style="margin-bottom:10pt;padding-left:22.3pt;text-indent:-22.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:14.8pt;text-decoration:underline">Plan&#59; Amendment</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The RSRs are governed by, and the Grantee&#8217;s rights are subject to, all of the terms and conditions of the Plan and any other rules adopted by the Committee, as the foregoing may be amended from time to time.  The Grantee shall have no rights with respect to any amendment of these Terms or the Plan unless such amendment is in writing and signed by a duly authorized officer of the Company.  In the event of a conflict between the provisions of the Grant Letter and&#47;or the Stock Plan System and the provisions of these Terms and&#47;or the Plan, the provisions of these Terms and&#47;or the Plan, as applicable, shall control.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">Definitions</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Whenever used in these Terms, the following</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">terms shall have the meanings set forth below and,</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">when the meaning is intended, the initial letter of the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">word is capitalized&#58;</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#8220;Change in Control Severance</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Arrangement</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; means a &#8220;Special Agreement&#8221; entered</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">into by and between the Grantee and the Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">that provides severance protections in the event of</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">certain changes in control of the Company or the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Company&#8217;s Change-in-Control Severance Plan, as</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">each may be in effect from time to time, or any</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">similar successor agreement or plan that provides</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">severance protections in the event of a change in</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">control of the Company.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Good Reason</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; means, without the Grantee&#8217;s</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">express written consent, the occurrence of any one or</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">more of the following&#58;</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(i) A material and substantial reduction in the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">nature or status of the Grantee&#8217;s authorities or</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">responsibilities (when such authorities and&#47;or</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">responsibilities are viewed </font></div></div><div style="display:inline-block;max-width:7.246%;min-width:6.246%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.378%"><div><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">in the aggregate)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">from their level in effect on the day</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">immediately prior to the start of the Protected</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Period, other than (A) an inadvertent act that</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">is remedied by the Company promptly after</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">receipt of notice thereof given by the Grantee,</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">and&#47;or (B) changes in the nature or status of</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Grantee&#8217;s authorities or responsibilities</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">that, in the aggregate, would generally be</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">viewed by a nationally-recognized executive</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">placement firm as resulting in the Grantee</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">having not materially and substantially fewer</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">authorities and responsibilities (taking into</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">consideration the Company&#8217;s industry) when</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">compared to the authorities and</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">responsibilities applicable to the position held</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">by the Grantee immediately prior to the start</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">of the Protected Period. The Company may</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">retain a nationally-recognized executive</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">placement firm for purposes of making the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">determination required by the preceding</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">sentence and the written opinion of the firm</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">thus selected shall be conclusive as to this</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">issue.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In addition, if the Grantee is a vice president,</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Grantee&#8217;s loss of vice-president status will</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">constitute &#8220;Good Reason&#8221;&#59; provided that the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">loss of the title of &#8220;vice president&#8221; will not, in</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">and of itself, constitute Good Reason if the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Grantee&#8217;s lack of a vice president title is</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">generally consistent with the manner in which</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the title of vice president is used within the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Grantee&#8217;s business unit or if the loss of the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">title is the result of a promotion to a higher</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">level office. For the purposes of the preceding</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">sentence, the Grantee&#8217;s lack of a vice president</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> t</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">itle will only be considered</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">generally consistent with the manner in which</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">such title is used if most persons in the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">business unit with authorities, duties, and</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">responsibilities comparable to those of the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Grantee immediately prior to the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">commencement of the Protected Period do</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">not have the title of vice-president.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(ii) A reduction by the Company in the Grantee&#8217;s</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">annualized rate of base salary as in effect at the start of the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Protected Period, or as the same shall be</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">increased from time to time.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(iii) A material reduction in the aggregate value of</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Grantee's level of participation in any of</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Company&#8217;s short and&#47;or long-term</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">incentive compensation plans (excluding</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">stock-based incentive compensation plans),</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">employee benefit or retirement plans, or</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">policies, practices, or arrangements in which</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Grantee participates immediately prior to</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the start of the Protected Period provided&#59;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">however, that a reduction in the aggregate</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">value shall not be deemed to be &#8220;Good</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reason&#8221; if the reduced value remains</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">substantially consistent with the average level</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">of other employees who have positions</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">commensurate with the position held by the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Grantee immediately prior to the start of the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Protected Period.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(iv) A material reduction in the Grantee&#8217;s</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">aggregate level of participation in the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Company&#8217;s stock-based incentive</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">compensation plans from the level in effect</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">immediately prior to the start of the Protected</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Period&#59; provided, however, that a reduction in</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the aggregate level of participation shall not</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">be deemed to be &#8220;Good Reason&#8221; if the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">reduced level of participation remains</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">substantially consistent with the average level</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">of participation of other employees who have</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">positions commensurate with the position</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">held by the Grantee immediately prior to the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">start of the Protected Period.</font></div><div><font><br></font></div></div></div><div style="height:57.6pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:91%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:91%">4</font></div></div></div><hr style="page-break-after:always"><div style="min-height:57.6pt;width:100%"><div style="margin-bottom:10pt;padding-left:360pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:133%">EXHIBIT 10.38</font></div></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.376%"><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(v) The Grantee is informed by the Company that</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">his or her principal place of employment for</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Company will be relocated to a location</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">that is greater than fifty (50) miles away from</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Grantee&#8217;s principal place of employment</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">for the Company at the start of the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">corresponding Protected Period&#59; provided</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">that, if the Company communicates an</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">intended effective date for such relocation, in</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">no event shall Good Reason exist pursuant to</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">this clause (v) more than ninety (90) days</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">before such intended effective date.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div><div style="text-indent:18pt"><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The Grantee&#8217;s right to terminate employment</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">for Good Reason shall not be affected by the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Grantee&#8217;s incapacity due to physical or mental illness.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The Grantee&#8217;s continued employment shall not</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">constitute a consent to, or a waiver of rights with</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">respect to, any circumstances constituting Good</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reason herein.</font></div><div style="text-indent:18pt"><font><br></font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Governmental Service Retirement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; means a Retirement by the Grantee where the Grantee accepts a position in the federal government or a state or local government and an accelerated distribution under the award is permitted under Code Section 409A based on such government employment and related ethics rules.</font></div><div style="margin-bottom:10pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Layoff</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; means a permanent, involuntary termination of the Grantee&#8217;s employment by the Company or a subsidiary due to a reduction in force, business reorganization, facility closure or similar event (other than a termination by the Company or a subsidiary for cause), as determined by the Committee in its sole discretion.  A Layoff shall not include any sale or spin-off described in Section 2.4.  </font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Parent</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">means  an entity that beneficially owns a majority of the voting stock or voting power of the Company, or all or substantially all of the Company&#8217;s assets, directly or indirectly through one or more subsidiaries.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The &#8220;</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Protected Period</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; corresponding to a</font></div><div><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Change in Control of the Company shall be a period</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">of time determined in accordance with the following&#58;</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(i) If the Change in Control is triggered by a</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">tender offer for shares of the Company&#8217;s</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">stock or by the offeror&#8217;s acquisition of shares</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">pursuant to such a tender offer, the Protected</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Period shall commence on the date of the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">initial tender offer and shall continue through</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">and including the date of the Change in</font></div><div><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Control&#59; provided that in no case will the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Protected Period commence earlier than the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">date that is six (6) months prior to the Change</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">in Control.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(ii) If the Change in Control is triggered by a</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">merger, consolidation, or reorganization of</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Company with or involving any other</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">corporation, the Protected Period shall</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">commence on the date that serious and</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">substantial discussions first take place to</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">effect the merger, consolidation, or</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">reorganization and shall continue through and</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">including the date of the Change in Control&#59;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">provided that in no case will the Protected</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Period commence earlier than the date that is</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">six (6) months prior to the Change in Control.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(iii) In the case of any Change in Control not</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">described in clause (i) or (ii) above, the</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Protected Period </font></div></div><div style="display:inline-block;max-width:7.246%;min-width:6.246%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.378%"><div><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">shall commence on the date</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">that is six (6) months prior to the Change in</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Control and shall continue through and</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">including the date of the Change in Control.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">     &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retirement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; or &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retire</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; means that the Grantee terminates employment after attaining age 55 with at least ten (10) years of service (other than in connection with a termination by the Company or a subsidiary for cause). In the case of a Grantee who is an officer of the Company subject to the Company&#8217;s mandatory retirement at age 65 policy, &#8220;Retirement&#8221; or &#8220;Retire&#8221; shall also include as to that Grantee (without limiting the Grantee&#8217;s ability to Retire pursuant to the preceding sentence) a termination of the Grantee&#8217;s employment pursuant to such mandatory retirement policy (regardless of the Grantee&#8217;s years of service and other than in connection with a termination by the Company or a subsidiary for cause).</font></div><div><font><br></font></div><div style="margin-bottom:10pt;text-indent:18pt"><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Successor</font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; means the person acquiring a</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Grantee&#8217;s rights to a grant under the Plan by will or</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#191919;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">by the laws of descent or distribution.</font></div></div></div><div style="height:57.6pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:91%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:91%">5</font></div></div></div></body></html>
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