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SECTION 3. ADMINISTRATION.
3.1 The Plan shall be administered by the Committee, which may delegate its duties and powers in whole or in part to any subcommittee thereof consisting
solely of at least two individuals who are intended to qualify as “independent directors” within the meaning of the NYSE listed company rules, “non-
employee directors” within the meaning of Rule 16b-3 under the Exchange Act (or any successor rule thereto) and, to the extent required by
Section 162(m) of the Code (or any successor section thereto), “outside directors” within the meaning thereof. In addition, the Committee may delegate
the authority to grant Awards under the Plan to any employee or group of employees of the Company or an Affiliate; provided that such grants are
consistent with guidelines established by the Committee from time to time.
3.2 The Committee shall have the full power and authority to make, and establish the terms and conditions of, any Award to any person eligible to be a
Participant, consistent with the provisions of the Plan, and to waive any such terms and conditions at any time (including without limitation,
accelerating or waiving any vesting conditions).
3.2 The Committee is authorized to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, and to make any other
determinations that it deems necessary or desirable for the administration of the Plan, and may delegate such authority, as it deems appropriate. The
Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee
deems necessary or desirable. Any decision of the Committee in the interpretation and administration of the Plan, as described herein, shall lie within
its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned (including, but not limited to, Participants and their
beneficiaries or successors).
SECTION 4. ELIGIBILITY.
4.1 . Only Employees shall be eligible for the grant of ISOs. Only Employees and Consultants shall be eligible for the grant of NSOs or the
award or sale of Restricted Shares.
SECTION 5. STOCK SUBJECT TO PLAN.
5.1 . Subject to Sections 5.2 and 9 of the Plan, the aggregate number of Shares available for issuance under the Plan, including with respect to
ISOs, shall be 4,016,194 Shares. The number of Shares which are subject to Options or other rights outstanding at any time shall not exceed the
number of Shares which then remain available for issuance under the Plan. The Company, during the term of the Plan, shall at all times reserve and
keep available sufficient Shares to satisfy the requirements of the Plan. Shares offered under the Plan may be authorized but unissued Shares or
treasury Shares.
5.2 . In the event that any outstanding Option or other right expires or is canceled for any reason, the Shares allocable to the unexercised
portion of such Option or other right shall remain available for issuance pursuant to the Plan. If a Share previously
AOL INC. 2013 ADAP.TV ACQUISITION STOCK INCENTIVE PLAN
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