Exhibit 10.14 


  


 


LATHAM GROUP INC.


2021 OMNIBUS EQUITY INCENTIVE PLAN


 


 


1.            
Purpose. The Latham Group, Inc. 2021 Omnibus Incentive Plan (as amended from time to time, the “Plan”)
is intended to help Latham Group, Inc., a Delaware corporation (including any successor thereto, the “Company”),
and its Affiliates (i) attract and retain key personnel by providing them the opportunity to acquire an equity interest in
the Company or other incentive compensation measured by reference to the value of Common Stock or a targeted dollar value if denominated
in cash, and (ii) align the interests of key personnel with those of the Company’s stockholders.


 


2.            Effective
Date; Duration. The effective date of the Plan is [●], 2021 (the “Effective Date”), which
is the date that the Plan was approved by the stockholders of the Company. The expiration date of the Plan, on and after which
date no Awards may be granted, shall be the tenth anniversary of the Effective Date; provided, however, that such
expiration shall not affect Awards then outstanding, and the terms and conditions of the Plan shall continue to apply to such
Awards.


 


3.            
Definitions. The following definitions shall apply throughout the Plan:


 


(a)             
“Affiliate” means any person or entity that directly or indirectly controls, is controlled by or is
under common control with the Company. The term “control” (including, with correlative meaning, the terms “controlled
by” and “under common control with”), as applied to any person or entity, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of such person or entity, whether through
the ownership of voting or other securities, by contract or otherwise.


 


(b)              
“Award” means any Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted
Stock, Restricted Stock Unit, Other Stock-Based Award, or Other Cash-Based Award granted under the Plan.


 


(c)               
“Award Agreement” means the agreement (whether in written or electronic form) or other instrument or
document evidencing any Award granted under the Plan.


 


(d)               
“Beneficial Ownership” has the meaning set forth in Rule 13d-3 promulgated under Section 13 of the Exchange
Act.


 


(e)               
“Board” means the Board of Directors of the Company.


 






     


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(f)                
“Cause” in the case of a particular Award, unless the applicable Award Agreement states otherwise, (i) shall
have the meaning given such term (or term of similar import) in any employment, consulting, change-in-control, severance or any
other agreement between the Participant and the Company or an Affiliate, or severance plan in which the Participant is eligible
to participate, in either case in effect at the time of the Participant’s termination of employment or service with the
Company and its Affiliates, or (ii) if “cause” or term of similar import is not defined in, or in the absence
of, any such employment, consulting, change-in-control, severance or any other agreement between the Participant and the Company
or an Affiliate, or severance plan in which the Participant is eligible to participate, means: (A) embezzlement, theft, misappropriation
or conversion, or attempted embezzlement, theft, misappropriation or conversion, by Participant of any property, funds or business
opportunity of the Company or any of its Subsidiaries; (B) willful failure or refusal by Participant to perform any directive
of the Board or the Chief Executive Officer or the duties of his or her employment which continues for a period of thirty (30)
days following notice thereof by the Board or the Chief Executive Officer to Participant; (C) any act by Participant constituting
a felony (or its equivalent in any non-United States jurisdiction) or otherwise involving theft, fraud, dishonesty, misrepresentation
or moral turpitude; (D) indictment for, conviction of, or plea of nolo contendere (or a similar plea) to, or the failure of Participant
to contest his or her prosecution for, any other criminal offense; (E) any violation of any law, rule or regulation relating in
any way to the business or activities of the Company or its Subsidiaries, or other law that is violated during the course of Participant’s
performance of services, regulatory disqualification or failure to comply with any legal or compliance policies or code of ethics,
code of business conduct, conflicts of interest policy or similar policies of the Company or its Subsidiaries; (F) gross negligence
or material willful misconduct on the part of Participant in the performance of his or her duties as an employee, officer or director
of the Company or any of its Subsidiaries; (G) Participant’s breach of fiduciary duty or duty of loyalty to the Company
or any of its Subsidiaries; (H) any act or omission to act of Participant intended to materially harm or damage the business,
property, operations, financial condition or reputation of the Company or any of its Subsidiaries; (I) Participant’s failure
to cooperate, if requested by the Board, with any investigation or inquiry into the business practices, whether internal or external,
or the Company and its Subsidiaries or Participant, including Participant’s refusal to be deposed or to provide testimony
or evidence at any trial, proceeding or inquiry; (J) any chemical dependence of Participant which materially interferes with the
performance of his or her duties and responsibilities to the Company or any of its Subsidiaries; or (K) Participant’s voluntary
resignation or other termination of employment effected by Participant at any time when the Company could effect such termination
with Cause.


 


(g)               
“Change in Control” means, in the case of a particular Award, unless the applicable Award Agreement
(or any employment, consulting, change-in-control, severance or other agreement between the Participant and the Company or an
Affiliate) states otherwise, the first to occur of any of the following events:


 


(i)                
the acquisition by any Person or related “group” (as such term is used in Section 13(d) and Section 14(d) of
the Exchange Act) of Persons, or Persons acting jointly or in concert, of Beneficial Ownership (including control or direction)
of 50% or more (on a fully diluted basis) of either (A) the then-outstanding shares of Common Stock, including Common Stock
issuable upon the exercise of options or warrants, the conversion of convertible stock or debt, and the exercise of any similar
right to acquire such Common Stock (the “Outstanding Company Common Stock”), or (B) the combined
voting power of the then-outstanding voting securities of the Company entitled to vote in the election of directors (the “Outstanding
Company Voting Securities”), but excluding any acquisition by the Company or any of its Affiliates, or the Investor,
its Permitted Transferees or any of their respective Affiliates or by any employee benefit plan sponsored or maintained by the
Company or any of its Affiliates;


 


(ii)             
a change in the composition of the Board such that members of the Board during any consecutive 12-month period (the “Incumbent
Directors”) cease to constitute a majority of the Board. Any person becoming a director through election or nomination
for election approved by a valid vote of at least two-thirds of the Incumbent Directors shall be deemed an Incumbent Director;
provided, however, that no individual becoming a director as a result of an actual or threatened election contest,
as such terms are used in Rule 14a-12 of Regulation 14A promulgated under the Exchange Act, or as a result of any other actual
or threatened solicitation of proxies or consents by or on behalf of any person other than the Board, shall be deemed an Incumbent
Director;


 


(iii)              
the approval by the stockholders of the Company of a plan of complete dissolution or liquidation of the Company; and


 






     


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(iv)             
the consummation of a reorganization, recapitalization, merger, amalgamation, consolidation, statutory share exchange or
similar form of corporate transaction involving the Company (a “Business Combination”), or sale, transfer
or other disposition of all or substantially all of the business or assets of the Company to an entity that is not an Affiliate
of the Company (a “Sale”), unless immediately following such Business Combination or Sale: (A) more
than 50% of the total voting power of the entity resulting from such Business Combination or the entity that acquired all or substantially
all of the business or assets of the Company in such Sale (in either case, the “Surviving Company”),
or the ultimate parent entity that has Beneficial Ownership of sufficient voting power to elect a majority of the board of directors
(or analogous governing body) of the Surviving Company (the “Parent Company”), is represented by the
Outstanding Company Voting Securities that were outstanding immediately prior to such Business Combination or Sale (or, if applicable,
is represented by shares into which the Outstanding Company Voting Securities were converted pursuant to such Business Combination
or Sale), and such voting power among the holders thereof is in substantially the same proportion as the voting power of the Outstanding
Company Voting Securities among the holders thereof immediately prior to the Business Combination or Sale, (B) no Person
(other than any employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company) is or becomes the
beneficial owner, directly or indirectly, of 50% or more of the total voting power of the outstanding voting securities eligible
to elect members of the board of directors (or the analogous governing body) of the Parent Company (or, if there is no Parent
Company, the Surviving Company), and (C) at least a majority of the members of the board of directors (or the analogous governing
body) of the Parent Company (or, if there is no Parent Company, the Surviving Company) following the consummation of the Business
Combination or Sale were Board members at the time of the Board’s approval of the execution of the initial agreement providing
for such Business Combination or Sale.


 


Notwithstanding
the foregoing, a “Change in Control” shall not be deemed to have occurred if immediately after the occurrence of any
of the events described in clauses (i) – (iv) above, (i) the Investor is the Beneficial Owner, directly or indirectly, of
more than 50% of the combined voting power of the Company or any successor


 


(h)             
“Code” means the U.S. Internal Revenue Code of 1986, as amended, and any successor thereto. References
to any section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and
any amendments or successors thereto.


 


(i)              
“Committee” means the Compensation Committee of the Board or subcommittee thereof if required with respect
to actions taken to comply with Rule 16b-3 promulgated under the Exchange Act in respect of Awards or, if no such Compensation
Committee or subcommittee thereof exists, or if the Board otherwise takes action hereunder on behalf of the Committee, the Board.


 


(j)                
“Common Stock” means the common stock of the Company, par value $0.01 per share (and any stock or other
securities into which such common stock may be converted or into which it may be exchanged).


 


(k)               
“Disability” means cause for termination of the Participant’s employment or service due to a determination
that the Participant is disabled in accordance with a long-term disability insurance program maintained by the Company or a determination
by the U.S. Social Security Administration that the Participant is totally disabled.


 


(l)                
“$” shall refer to the United States dollars.


 


(m)              
“Eligible Director” means a director who satisfies the conditions set forth in Section 4(a) of the Plan.


 






     


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(n)               
 “Eligible Person” means any (i) individual employed by the Company or a Subsidiary; provided,
however, that no such employee covered by a collective bargaining agreement shall be an Eligible Person, (ii) director
or officer of the Company or a Subsidiary, (iii) consultant or advisor to the Company or an Affiliate who may be offered
securities registrable on Form S-8 under the Securities Act, or (iv) prospective employee, director, officer, consultant
or advisor who has accepted an offer of employment or service from the Company or its Subsidiaries (and would satisfy the provisions
of clause (i), (ii) or (iii) above once such individual begins employment with or providing services to the Company or a Subsidiary).


 


(o)               
“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and any successor thereto.
References to any section of (or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations or
other interpretative guidance under such section or rule, and any amendments or successors thereto.


 


(p)               
“Exercise Price” has the meaning set forth in Section 7(b) of the Plan.


 


(q)               
“Fair Market Value” means, (i) with respect to Common Stock on a given date, (x) if the Common
Stock is listed on a national securities exchange, the closing sales price of a share of Common Stock reported on such exchange
on such date, or if there is no such sale on that date, then on the last preceding date on which such a sale was reported, or
(y) if the Common Stock is not listed on any national securities exchange, the amount determined by the Committee in good
faith to be the fair market value of the Common Stock, or (ii) with respect to any other property on any given date, the
amount determined by the Committee in good faith to be the fair market value of such other property as of such date; provided,
however, as to any Awards with a date of grant that is the date of the pricing of the Company’s initial public offering
(if any), “Fair Market Value” shall be equal to the per share price at which the Common Stock is offered to the public
in connection with such initial public offering.


 


(r)                
“Incentive Stock Option” means an Option that is designated by the Committee as an incentive stock option
as described in Section 422 of the Code and otherwise meets the requirements set forth in the Plan.


 


(s)               
“Intrinsic Value” with respect to an Option or SAR means (i) the excess, if any, of the price or implied
price per Share in a Change in Control or other event over (ii) the exercise or hurdle price of such Award multiplied by (iii)
the number of Shares covered by such Award.


 


(t)                
“Immediate Family Members” has the meaning set forth in Section 14(b)(ii) of the Plan.


 


(u)               
“Indemnifiable Person” has the meaning set forth in Section 4(e) of the Plan.


 


(v)               
“Investor” means, collectively, the investment funds managed, sponsored or advised by Pamplona Capital
Management LLC. A reference to a member of Investor is a reference to any such investment fund.


 


(w)              
“NASDAQ” means the Nasdaq Global Select Market.


 


(x)                
“Nonqualified Stock Option” means an Option that is not designated by the Committee as an Incentive
Stock Option.


 


(y)               
“Option” means an Award granted under Section 7 of the Plan.


 


(z)                
“Option Period” has the meaning set forth in Section 7(c) of the Plan.


 






     


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(aa)             
 “Other Cash-Based Award” means an Award granted under Section 10 of the Plan that is denominated and/or
payable in cash, including cash awarded as a bonus or upon the attainment of specific performance criteria or as otherwise permitted
by the Plan or as contemplated by the Committee.


 


(bb)            
“Other Stock-Based Award” means an Award granted under Section 10 of the Plan.


 


(cc)             
“Participant” has the meaning set forth in Section 6 of the Plan.


 


(dd)            
“Performance Conditions” means specific levels of performance of the Company (and/or one or more Affiliates,
divisions or operational and/or business units, product lines, brands, business segments, administrative departments, units, or
any combination of the foregoing), which may be determined in accordance with GAAP or on a non-GAAP basis, including without limitation,
on the following measures: (i) net earnings or net income (before or after taxes); (ii) basic or diluted earnings per
share (before or after taxes); (iii) net revenue or net revenue growth; (iv) gross revenue or gross revenue growth,
gross profit or gross profit growth; (v) net operating profit (before or after taxes); (vi) return measures (including,
but not limited to, return on investment, assets, net assets, capital, gross revenue or gross revenue growth, invested capital,
equity or sales); (vii) cash flow measures (including, but not limited to, operating cash flow, free cash flow and cash flow
return on capital), which may but are not required to be measured on a per-share basis; (viii) earnings before or after taxes,
interest, depreciation, and amortization (including EBIT and EBITDA); (ix) gross or net operating margins; (x) productivity
ratios; (xi) share price (including, but not limited to, growth measures and total shareholder return); (xii) expense
targets or cost reduction goals, general and administrative expense savings; (xiii) operating efficiency; (xiv)  customer
satisfaction; (xv) working capital targets; (xvi) measures of economic value added or other ‘‘value creation’’
metrics; (xvii) enterprise value; (xviii) stockholder return; (xix) client or customer retention; (xx) competitive
market metrics; (xxi) employee retention; (xxii)  personal targets, goals or completion of projects (including but not
limited to succession and hiring projects, completion of specific acquisitions, reorganizations or other corporate transactions
or capital-raising transactions, expansions of specific business operations and meeting divisional or project budgets); (xxiii) system-wide
sales; (xxiv) cost of capital, debt leverage year-end cash position or book value; (xxv) strategic objectives, development
of new product lines and related revenue, sales and margin targets, or international operations; (xxvi) store growth or (xxvii)
same store sales growth; or any combination of the foregoing. Any one or more of the aforementioned performance criteria may be
stated as a percentage of another performance criteria, or used on an absolute or relative basis to measure the of the Company
and/or one or more Affiliates as a whole or any divisions or operational and/or business units, product lines, brands, business
segments, administrative departments of the Company and/or one or more Affiliates or any combination thereof, as the Committee
may deem appropriate, or any of the above performance criteria may be compared to the performance of a group of comparator companies,
or a published or special index that the Committee deems appropriate, or as compared to various stock market indices. The Performance
Conditions may include a threshold level of performance below which no payment shall be made (or no vesting shall occur), levels
of performance at which specified payments shall be made (or specified vesting shall occur), and a maximum level of performance
above which no additional payment shall be made (or at which full vesting shall occur). The Committee shall have the authority
to make equitable adjustments to the Performance Conditions as may be determined by the Committee, in its sole discretion.


 


(ee)             
“Permitted Transferee” has the meaning set forth in Section 14(b)(ii) of the Plan.


 


(ff)              
“Person” has the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections
13(d) and 14(d) thereof, except that such term shall not include (i) the Company or any of its Subsidiaries, (ii) a
trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, (iii) an
underwriter temporarily holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of Common Stock of
the Company.


 






     


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(gg)            
“Released Unit” has the meaning set forth in Section 9(d)(ii) of the Plan.


 


(hh)            
“Restricted Period” has the meaning set forth in Section 9(a) of the Plan.


 


(ii)               
“Restricted Stock” means an Award of Common Stock, subject to certain specified restrictions, granted
under Section 9 of the Plan.


 


(jj)               
“Restricted Stock Unit” means an Award of an unfunded and unsecured promise to deliver shares of Common
Stock, cash, other securities or other property, subject to certain specified restrictions, granted under Section 9 of the Plan.


 


(kk)             
“SAR Period” has the meaning set forth in Section 8(c) of the Plan.


 


(ll)              
“Securities Act” means the U.S. Securities Act of 1933, as amended, and any successor thereto. Reference
in the Plan to any section of (or rule promulgated under) the Securities Act shall be deemed to include any rules, regulations
or other interpretative guidance under such section or rule, and any amendments or successor provisions to such section, rules,
regulations or other interpretive guidance.


 


(mm)          
 “Strike Price” has the meaning set forth in Section 8(b) of the Plan.


 


(nn)            
“Stock Appreciation Right” or “SAR” means an Award granted under Section 8 of the
Plan.


 


(oo)           
“Subsidiary” means any corporation or other entity a majority of whose outstanding voting stock or voting
power is beneficially owned directly or indirectly by the Company.


 


(pp)            
“Substitute Awards” has the meaning set forth in Section 5(e) of the Plan.


 


4.            
Administration.


 


(a)               
The Committee shall administer the Plan, and shall have the sole and plenary authority to (i) designate Participants,
(ii) determine the type, size, and terms and conditions of Awards to be granted and to grant such Awards, (iii) determine
the method by which an Award may be settled, exercised, canceled, forfeited, suspended, or repurchased by the Company, (iv) determine
the circumstances under which the delivery of cash, property or other amounts payable with respect to an Award may be deferred,
either automatically or at the Participant’s or Committee’s election, (v) interpret, administer, reconcile any
inconsistency in, correct any defect in and supply any omission in the Plan and any Award granted under the Plan, (vi) establish,
amend, suspend, or waive any rules and regulations and appoint such agents as the Committee shall deem appropriate for the proper
administration of the Plan, (vii) accelerate the vesting, delivery or exercisability of, or payment for or lapse of restrictions
on, or waive any condition in respect of, Awards, and (viii) make any other determination and take any other action that
the Committee deems necessary or desirable for the administration of the Plan or to comply with any applicable law. To the extent
required to comply with the provisions of Rule 16b-3 promulgated under the Exchange Act (if applicable and if the Board is not
acting as the Committee under the Plan), or any exception or exemption under applicable securities laws or the applicable rules
of the NASDAQ or any other securities exchange or inter-dealer quotation service on which the Common Stock is listed or quoted,
as applicable, it is intended that each member of the Committee shall, at the time such member takes any action with respect to
an Award under the Plan, be (1) a “non-employee director” within the meaning of Rule 16b-3 promulgated under
the Exchange Act and/or (2) an “independent director” under the rules of the NASDAQ or any other securities exchange
or inter-dealer quotation service on which the Common Stock is listed or quoted, or a person meeting any similar requirement under
any successor rule or regulation (“Eligible Director”). However, the fact that a Committee member shall
fail to qualify as an Eligible Director shall not invalidate any Award granted or action taken by the Committee that is otherwise
validly granted or taken under the Plan.


 






     


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(b)              
The Committee may delegate all or any portion of its responsibilities and powers to any person(s) selected by it, except
for grants of Awards to persons who are non-employee members of the Board or are otherwise subject to Section 16 of the Exchange
Act. Any such delegation may be revoked by the Committee at any time.


 


(c)               
As further set forth in Section 14(f) of the Plan, the Committee shall have the authority to amend the Plan and Awards
to the extent necessary to permit participation in the Plan by Eligible Persons who are located outside of the United States on
terms and conditions comparable to those afforded to Eligible Persons located within the United States; provided, however,
that no such action shall be taken without stockholder approval if such approval is required by applicable securities laws or
regulation or NASDAQ listing guidelines.


 


(d)               
Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions
regarding the Plan or any Award or any documents evidencing Awards granted pursuant to the Plan shall be within the sole discretion
of the Committee, may be made at any time and shall be final, conclusive and binding upon all persons and entities, including,
without limitation, the Company, any Affiliate, any Participant, any holder or beneficiary of any Award, and any stockholder of
the Company.


 


(e)               
No member of the Board or the Committee, nor any employee or agent of the Company (each such person, an “Indemnifiable
Person”), shall be liable for any action taken or omitted to be taken or any determination made with respect to
the Plan or any Award hereunder (unless constituting fraud or a willful criminal act or willful criminal omission). Each Indemnifiable
Person shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense (including
attorneys’ fees) that may be imposed upon or incurred by such Indemnifiable Person in connection with or resulting from
any action, suit or proceeding to which such Indemnifiable Person may be involved as a party, witness or otherwise by reason of
any action taken or omitted to be taken or determination made under the Plan or any Award Agreement and against and from any and
all amounts paid by such Indemnifiable Person with the Company’s approval (not to be unreasonably withheld), in settlement
thereof, or paid by such Indemnifiable Person in satisfaction of any judgment in any such action, suit or proceeding against such
Indemnifiable Person, and the Company shall advance to such Indemnifiable Person any such expenses promptly upon written request
(which request shall include an undertaking by the Indemnifiable Person to repay the amount of such advance if it shall ultimately
be determined as provided below that the Indemnifiable Person is not entitled to be indemnified); provided, that the Company
shall have the right, at its own expense, to assume and defend any such action, suit or proceeding, and once the Company gives
notice of its intent to assume the defense, the Company shall have sole control over such defense with counsel of recognized standing
of the Company’s choice. The foregoing right of indemnification shall not be available to an Indemnifiable Person to the
extent that a final judgment or other final adjudication (in either case not subject to further appeal) binding upon such Indemnifiable
Person determines that the acts or omissions or determinations of such Indemnifiable Person giving rise to the indemnification
claim resulted from such Indemnifiable Person’s fraud or willful criminal act or willful criminal omission or that such
right of indemnification is otherwise prohibited by law or by the Company’s certificate of incorporation or by-laws. The
foregoing right of indemnification shall not be exclusive of or otherwise supersede any other rights of indemnification to which
such Indemnifiable Persons may be entitled under the Company’s certificate of incorporation or by-laws, as a matter of law,
individual indemnification agreement or contract or otherwise, or any other power that the Company may have to indemnify such
Indemnifiable Persons or hold them harmless.


 






     


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(f)                
The Board may at any time and from time to time grant Awards and administer the Plan with respect to such Awards. In any
such case, the Board shall have all the authority granted to the Committee under the Plan.


 


5.            
Grant of Awards; Shares Subject to the Plan; Limitations.


 


(a)               
Awards. The Committee may grant Awards to one or more Eligible Persons. All Awards granted under the Plan shall
vest and become exercisable in such manner and on such date or dates or upon such event or events as determined by the Committee,
including, without limitation, attainment of Performance Conditions.


 


(b)               
Share Limits. Subject to Section 11 of the Plan and subsection (e) below, the following limitations apply to the
grant of Awards: (i) no more than [●] shares of Common Stock may be reserved for issuance and delivered in the aggregate
pursuant to Awards granted under the Plan (the “Share Pool”); (ii) no more than [●] shares
of Common Stock may be delivered pursuant to the exercise of Incentive Stock Options granted under the Plan; and (iii) the
maximum amount (based on the Fair Market Value of shares of Common Stock on the date of grant as determined in accordance with
applicable financial accounting rules) of Awards that may be granted in any single fiscal year to any non-employee member of the
Board, taken together with any cash fees paid to such non-employee member of the Board in respect of service as a member of the
Board during such fiscal year, shall be [$500,000]; provided, that the foregoing limitation shall not apply in respect
of any Awards issued to (x) a non-employee director in connection with the Company’s initial public offering of shares of
Common Stock, or in respect of any one-time equity grant upon his or her appointment to the Board or (y) a non-executive chairman
of the Board, provided, that the non-employee director receiving such additional compensation does not participate in the decision
to award such compensation.


 


(c)               
Share Counting. The Share Pool shall be reduced, on the date of grant, by the relevant number of shares of Common Stock
for each Award granted under the Plan that is valued by reference to a share of Common Stock; provided that Awards that are valued by
reference to shares of Common Stock but are required to be paid in cash pursuant to their terms shall not reduce the Share Pool. If and
to the extent that Awards originating from the Share Pool terminate, expire, or are cash-settled, canceled, forfeited, exchanged, or
surrendered without having been exercised, vested, or settled, the shares of Common Stock subject to such Awards shall again be available
for Awards under the Share Pool. Notwithstanding the foregoing, the following shares of Common Stock shall not become available for issuance
under the Plan: [(i) shares of Common Stock tendered by Participants, or withheld by the Company, as full or partial payment to
the Company upon the exercise of Stock Options granted under the Plan; (ii) shares of Common Stock reserved for issuance upon the
grant of Stock Appreciation Rights, to the extent that the number of reserved shares of Common Stock exceeds the number of shares of
Common Stock actually issued upon the exercise of the Stock Appreciation Rights; and (iii) shares of Common Stock withheld by, or
otherwise remitted to, the Company to satisfy a Participant’s tax withholding obligations upon the exercise of Options or SARs
granted under the Plan. Shares of Common Stock withheld by, or otherwise remitted to the Company to satisfy a Participant’s tax
withholding obligations upon the lapse of restrictions on, or settlement of, an Award other an Option or SAR shall again be available
for Awards under the Share Pool.]


 






     


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(d)              
Source of Shares. Shares of Common Stock delivered by the Company in settlement of Awards may be authorized and
unissued shares, shares held in the treasury of the Company, shares purchased on the open market or by private purchase, or a
combination of the foregoing.


 


(e)               
Substitute Awards. The Committee may grant Awards in assumption of, or in substitution for, outstanding awards previously
granted by the Company or any Affiliate or an entity directly or indirectly acquired by the Company or with which the Company
combines (“Substitute Awards”), and such Substitute Awards shall not be counted against the aggregate
number of shares of Common Stock available for Awards (i.e., Substitute Awards will not be counted against the Share Pool); provided,
that Substitute Awards issued or intended as “incentive stock options” within the meaning of Section 422 of the Code
shall be counted against the aggregate number of Incentive Stock Options available under the Plan.


 


6.            
Eligibility. Participation shall be limited to Eligible Persons who have been selected by the Committee and who have
entered into an Award Agreement with respect to an Award granted to them under the Plan (each such Eligible Person, a “Participant”).


 


7.            
Options.


 


(a)               
Generally. Each Option shall be subject to the conditions set forth in the Plan and in the applicable Award Agreement.
All Options granted under the Plan shall be Nonqualified Stock Options unless the Award Agreement expressly states otherwise.
Incentive Stock Options shall be granted only subject to and in compliance with Section 422 of the Code, and only to Eligible
Persons who are employees of the Company and its Affiliates and who are eligible to receive an Incentive Stock Option under the
Code. If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify as an Incentive
Stock Option, then, to the extent of such nonqualification, such Option or portion thereof shall be regarded as a Nonqualified
Stock Option properly granted under the Plan.


 


(b)               
Exercise Price. The exercise price (“Exercise Price”) per share of Common Stock for each
Option (that is not a Substitute Award) shall not be less than 100% of the Fair Market Value of such share, determined as of the
date of grant. Any modification to the Exercise Price of an outstanding Option shall be subject to the prohibition on repricing
set forth in Section 13(b).


 


(c)               
Vesting, Exercise and Expiration. The Committee shall determine the manner and timing of vesting, exercise and expiration
of Options. The period between the date of grant and the scheduled expiration date of the Option (“Option Period”)
shall not exceed ten years, unless the Option Period (other than in the case of an Incentive Stock Option) would expire at a time
when trading in the shares of Common Stock is prohibited by the Company’s insider-trading policy or a Company-imposed “blackout
period,” in which case the Option Period shall be extended automatically (other than with respect to Options with an Exercise
Price as of the end of the Option Period (prior to any such extension) that is not less than the Fair Market Value of a share
of Common Stock at such time) until the 30th day following the expiration of such prohibition (so long as such extension shall
not violate Section 409A of the Code). The Committee may accelerate the vesting and/or exercisability of any Option, which acceleration
shall not affect any other terms and conditions of such Option.


 






     


    10


    

 


(d)               
Method of Exercise and Form of Payment. No shares of Common Stock shall be delivered pursuant to any exercise of
an Option until the Participant has paid the Exercise Price to the Company in full, and an amount equal to any U.S. federal, state
and local income and employment taxes and non-U.S. income and employment taxes, social contributions and any other tax-related
items required to be withheld. Options may be exercised by delivery of written or electronic notice of exercise to the Company
or its designee (including a third-party administrator) in accordance with the terms of the Option and the Award Agreement accompanied
by payment of the Exercise Price and such applicable taxes. The Exercise Price and delivery of all applicable required withholding
taxes shall be payable (i) in cash or by check, cash equivalent and/or shares of Common Stock valued at the Fair Market Value
at the time the Option is exercised (including, pursuant to procedures approved by the Committee, by means of attestation of ownership
of a sufficient number of shares of Common Stock in lieu of actual delivery of such shares to the Company) or any combination
of the foregoing; provided, that such shares of Common Stock are not subject to any pledge or other security interest;
or (ii) by such other method as elected by the Participant and that the Committee may permit, in its sole discretion, including
without limitation: (A) in the form of other property having a Fair Market Value on the date of exercise equal to the Exercise
Price and all applicable required withholding taxes; (B) if there is a public market for the shares of Common Stock at such
time, by means of a broker-assisted “cashless exercise” pursuant to which the Company or its designee (including third-party
administrators) is delivered a copy of irrevocable instructions to a stockbroker to sell the shares of Common Stock otherwise
deliverable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price and all
applicable required withholding taxes against delivery of the shares of Common Stock to settle the applicable trade; or (C) by
means of a “net exercise” procedure effected by withholding the minimum number of shares of Common Stock otherwise
deliverable in respect of an Option that are needed to pay for the Exercise Price and all applicable required withholding taxes.
No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine
whether cash, other securities or other property shall be paid or transferred in lieu of any fractional shares of Common Stock,
or whether such fractional shares of Common Stock or any rights thereto shall be canceled, terminated or otherwise eliminated.


 


(e)               
Notification upon Disqualifying Disposition of an Incentive Stock Option. Each Participant awarded an Incentive
Stock Option under the Plan shall notify the Company in writing immediately after the date on which the Participant makes a disqualifying
disposition of any Common Stock acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition
is any disposition (including, without limitation, any sale) of such Common Stock before the later of (i) two years after
the date of grant of the Incentive Stock Option and (ii) one year after the date of exercise of the Incentive Stock Option.
The Company may, if determined by the Committee and in accordance with procedures established by the Committee, retain possession,
as agent for the applicable Participant, of any Common Stock acquired pursuant to the exercise of an Incentive Stock Option until
the end of the period described in the preceding sentence, subject to complying with any instruction from such Participant as
to the sale of such Common Stock.


 


(f)                
Compliance with Laws. Notwithstanding the foregoing, in no event shall the Participant be permitted to exercise
an Option in a manner that the Committee determines would violate the Sarbanes-Oxley Act of 2002, or any other applicable law
or the applicable rules and regulations of the Securities and Exchange Commission or the applicable rules and regulations of any
securities exchange or inter-dealer quotation service on which the Common Stock of the Company is listed or quoted.


 


(g)               
Incentive Stock Option Grants to 10% Stockholders. Notwithstanding anything to the contrary in this Section 7, if
an Incentive Stock Option is granted to a Participant who owns stock representing more than ten percent of the voting power of
all classes of stock of the Company or of a parent or subsidiary of the Company (within the meaning of Sections 424(e) and 424(f)
of the Code), the Option Period shall not exceed five years from the date of grant of such Option and the Exercise Price shall
be at least 110% of the Fair Market Value (on the date of grant) of the shares subject to the Option.


 


(h)               
$100,000 Per Year Limitation for Incentive Stock Options. To the extent that the aggregate Fair Market Value (determined
as of the date of grant) of shares of Common Stock for which Incentive Stock Options are exercisable for the first time by any
Participant during any calendar year (under all plans of the Company) exceeds $100,000, such excess Incentive Stock Options shall
be treated as Nonqualified Stock Options.


 






     


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8.            
 Stock Appreciation Rights (SARs).


 


(a)               
Generally. Each SAR shall be subject to the conditions set forth in the Plan and the Award Agreement. Any Option
granted under the Plan may include a tandem SAR. The Committee also may award SARs independent of any Option.


 


(b)               
Strike Price. The strike price (“Strike Price”) per share of Common Stock for each SAR
(that is not a Substitute Award) shall not be less than 100% of the Fair Market Value of such share, determined as of the date
of grant; provided, however, that a SAR granted in tandem with (or in substitution for) an Option previously granted
shall have a Strike Price equal to the Exercise Price of the corresponding Option. Any modification to the Strike Price of an
outstanding SAR shall be subject to the prohibition on repricing set forth in Section 13(b).


 


(c)               
Vesting and Expiration. A SAR granted in tandem with an Option shall vest and become exercisable and shall expire
according to the same vesting schedule and expiration provisions as the corresponding Option. A SAR granted independently of an
Option shall vest and become exercisable and shall expire in such manner and on such date or dates determined by the Committee
and shall expire after such period, not to exceed ten years, as may be determined by the Committee (the “SAR Period”);
provided, however, that notwithstanding any vesting or exercisability dates set by the Committee, the Committee
may accelerate the vesting and/or exercisability of any SAR, which acceleration shall not affect the terms and conditions of such
SAR other than with respect to vesting and/or exercisability. If the SAR Period would expire at a time when trading in the shares
of Common Stock is prohibited by the Company’s insider trading policy or a Company-imposed “blackout period,”
the SAR Period shall be automatically extended (other than with respect to SARs with a Strike Price as of the end of the SAR Period
(prior to any such extension) that is not less than the Fair Market Value of a share of Common Stock at such time) until the 30th
day following the expiration of such prohibition (so long as such extension shall not violate Section 409A of the Code).


 


(d)                Method
of Exercise. SARs may be exercised by delivery of written or electronic notice of exercise to the Company or its designee
(including a third-party administrator) in accordance with the terms of the Award, specifying the number of SARs to be exercised
and the date on which such SARs were awarded.


 


(e)               
Payment. Upon the exercise of a SAR, the Company shall pay to the holder thereof an amount equal to the number of
shares subject to the SAR that are being exercised multiplied by the excess, if any, of the Fair Market Value of one share of
Common Stock on the exercise date over the Strike Price, less an amount equal to any U.S. federal, state and local income and
employment taxes and non-U.S. income and employment taxes, social contributions and any other tax-related items required to be
withheld. The Company shall pay such amount in cash, in shares of Common Stock valued at Fair Market Value as determined on the
date of exercise, or any combination thereof, as determined by the Committee. Any fractional shares of Common Stock shall be settled
in cash.


 






     


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9.            
Restricted Stock and Restricted Stock Units.


 


(a)               
Generally. Each Restricted Stock and Restricted Stock Unit Award shall be subject to the conditions set forth in
the Plan and the applicable Award Agreement. The Committee shall establish restrictions applicable to Restricted Stock and Restricted
Stock Units, including the period over which the restrictions shall apply (the “Restricted Period”),
and the time or times at which Restricted Stock or Restricted Stock Units shall become vested (which, for the avoidance of doubt,
may include service- and/or performance-based vesting conditions). To the extent permitted in the Committee’s sole discretion,
and subject to such rules, approvals, and conditions as the Committee may impose from time to time, an Eligible Person who is
a non-employee director may elect to receive all or a portion of such Eligible Person’s cash director fees and other cash
director compensation payable for director services provided to the Company by such Eligible Person in any fiscal year, in whole
or in part, in the form of Restricted Stock Units. The Committee may accelerate the vesting and/or the lapse of any or all of
the restrictions on Restricted Stock and Restricted Stock Units which acceleration shall not affect any other terms and conditions
of such Awards. No share of Common Stock shall be issued at the time an Award of Restricted Stock Units is made, and the Company
will not be required to set aside a fund for the payment of any such Award.


 


(b)                Stock
Certificates; Escrow or Similar Arrangement. Upon the grant of Restricted Stock, the Committee shall cause share(s) of Common
Stock to be registered in the name of the Participant and held in book-entry form subject to the Company’s directions. The
Committee may also cause a stock certificate registered in the name of the Participant to be issued. In such event, the Committee
may provide that such certificates shall be held by the Company or in escrow rather than delivered to the Participant pending
vesting and release of restrictions, in which case the Committee may require the Participant to execute and deliver to the Company
or its designee (including third-party administrators) (i) an escrow agreement satisfactory to the Committee, if applicable,
and (ii) the appropriate stock power (endorsed in blank) with respect to the Restricted Stock. If the Participant shall fail
to execute and deliver the escrow agreement and blank stock power within the amount of time specified by the Committee, the Award
shall be null and void. Subject to the restrictions set forth in this Section 9 and the Award Agreement, the Participant shall
have the rights and privileges of a stockholder as to such Restricted Stock, including without limitation the right to vote such
Restricted Stock.


 


(c)               
Restrictions; Forfeiture. Restricted Stock and Restricted Stock Units awarded to the Participant shall be subject
to forfeiture until the expiration of the Restricted Period and the attainment of any other vesting criteria established by the
Committee, and shall be subject to the restrictions on transferability set forth in the Award Agreement. In the event of any forfeiture,
all rights of the Participant to such Restricted Stock (or as a stockholder with respect thereto), and to such Restricted Stock
Units, as applicable, including to any dividends and/or dividend equivalents that may have been accumulated and withheld during
the Restricted Period in respect thereof, shall terminate without further action or obligation on the part of the Company. The
Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock and Restricted Stock Units
whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the date
of grant of the Restricted Stock Award or Restricted Stock Unit Award, such action is appropriate.


 


(d)               
Delivery of Restricted Stock and Settlement of Restricted Stock Units.


 


(i)                 Upon
the expiration of the Restricted Period with respect to any shares of Restricted Stock and the attainment of any other vesting
criteria, the restrictions set forth in the applicable Award Agreement shall be of no further force or effect, except as set forth
in the Award Agreement. If an escrow arrangement is used, upon such expiration the Company shall deliver to the Participant or
such Participant’s beneficiary (via book-entry notation or, if applicable, in stock certificate form) the shares of Restricted
Stock with respect to which the Restricted Period has expired (rounded down to the nearest full share). Dividends, if any, that
may have been withheld by the Committee and attributable to the Restricted Stock shall be distributed to the Participant in cash
or in shares of Common Stock having a Fair Market Value (on the date of distribution) (or a combination of cash and shares of
Common Stock) equal to the amount of such dividends, upon the release of restrictions on the Restricted Stock.


 






     


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(ii)              
Unless otherwise provided by the Committee in an Award Agreement, upon the expiration of the Restricted Period and the
attainment of any other vesting criteria established by the Committee, with respect to any outstanding Restricted Stock Units,
the Company shall deliver to the Participant, or such Participant’s beneficiary (via book-entry notation or, if applicable,
in stock certificate form), one share of Common Stock (or other securities or other property, as applicable) for each such outstanding
Restricted Stock Unit that has not then been forfeited and with respect to which the Restricted Period has expired and any other
such vesting criteria are attained (“Released Unit”); provided, however, that the Committee
may elect to (A) pay cash or part cash and part Common Stock in lieu of delivering only shares of Common Stock in respect
of such Released Units or (B) defer the delivery of Common Stock (or cash or part Common Stock and part cash, as the case
may be) beyond the expiration of the Restricted Period if such extension would not cause adverse tax consequences under Section
409A of the Code. If a cash payment is made in lieu of delivering shares of Common Stock, the amount of such payment shall be
equal to the Fair Market Value of the Common Stock as of the date on which the shares of Common Stock would have otherwise been
delivered to the Participant in respect of such Restricted Stock Units.


 


(iii)              
To the extent provided in an Award Agreement, the holder of outstanding Restricted Stock Units shall be entitled to be
credited with dividend equivalent payments (upon the payment by the Company of dividends on shares of Common Stock) either in
cash or, if determined by the Committee, in shares of Common Stock having a Fair Market Value equal to the amount of such dividends
as of the date of payment (or a combination of cash and shares of Common Stock) (and interest may, if determined by the Committee,
be credited on the amount of cash dividend equivalents at a rate and subject to such terms as determined by the Committee), which
accumulated dividend equivalents (and interest thereon, if applicable) shall be payable at the same time as the underlying Restricted
Stock Units are settled (in the case of Restricted Stock Units, following the release of restrictions on such Restricted Stock
Units), and if such Restricted Stock Units are forfeited, the holder thereof shall have no right to such dividend equivalent payments.


 


(e)                Legends
on Restricted Stock. Each certificate representing Restricted Stock awarded under the Plan, if any, shall bear a legend substantially
in the form of the following in addition to any other information the Company deems appropriate until the lapse of all restrictions
with respect to such Common Stock:


 


TRANSFER
OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE Latham Group, Inc. 2021 OMNIBUS INCENTIVE PLAN AND A RESTRICTED STOCK AWARD AGREEMENT, DATED AS OF __________, BETWEEN Latham Group, Inc. AND _________. A COPY OF SUCH PLAN AND AWARD AGREEMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF Latham Group, Inc.


 


10.           Other
Stock-Based Awards and Other Cash-Based Awards. The Committee may issue unrestricted Common Stock, rights to receive future
grants of Awards, or other Awards denominated in Common Stock (including performance shares or performance units), or Awards that
provide for cash payments based in whole or in part on the value or future value of shares of Common Stock (“Other
Stock-Based Awards”) and Other Cash-Based Awards under the Plan to Eligible Persons, alone or in tandem with other
Awards, in such amounts as the Committee shall from time to time determine. Each Other Stock-Based Award shall be evidenced by
an Award Agreement, which may include conditions including, without limitation, the payment by the Participant of the Fair Market
Value of such shares of Common Stock on the date of grant.


 






     


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11.        Changes
in Capital Structure and Similar Events. In the event of (a) any dividend (other than regular cash dividends) or other
distribution (whether in the form of cash, shares of Common Stock, other securities or other property), recapitalization, stock
split, reverse stock split, reorganization, merger, amalgamation, consolidation, split-up, split-off, spin-off, combination, repurchase
or exchange of shares of Common Stock or other securities of the Company, issuance of warrants or other rights to acquire shares
of Common Stock or other securities of the Company, or other similar corporate transaction or event (including, without limitation,
a Change in Control) that affects the shares of Common Stock, or (b) unusual or nonrecurring events (including, without limitation,
a Change in Control) affecting the Company, any Affiliate, or the financial statements of the Company or any Affiliate, or changes
in applicable rules, rulings, regulations or other requirements of any governmental body or securities exchange or inter-dealer
quotation service, accounting principles or law, such that in any case an adjustment is determined by the Committee to be necessary
or appropriate, then the Committee shall (other than with respect to Other Cash-Based Awards) make any such adjustments in such
manner as it may deem equitable, including without limitation any or all of the following:


 


(i)        adjusting
any or all of (A) the number of shares of Common Stock or other securities of the Company (or number and kind of other securities
or other property) that may be delivered in respect of Awards or with respect to which Awards may be granted under the Plan (including,
without limitation, adjusting any or all of the limitations under Section 5 of the Plan) and (B) the terms of any outstanding
Award, including, without limitation, (1) the number of shares of Common Stock or other securities of the Company (or number
and kind of other securities or other property) subject to outstanding Awards or to which outstanding Awards relate, (2) the
Exercise Price or Strike Price with respect to any Award and/or (3) any applicable performance measures (including, without
limitation, Performance Conditions and performance periods);


 


(ii)       providing
for a substitution or assumption of Awards (or awards of an acquiring company), accelerating the delivery, vesting and/or exercisability
of, lapse of restrictions and/or other conditions on, or termination of, Awards or providing for a period of time (which shall
not be required to be more than ten (10) days) for Participants to exercise outstanding Awards prior to the occurrence of such
event (and any such Award not so exercised shall terminate or become no longer exercisable upon the occurrence of such event);
and


 


(iii)      cancelling
any one or more outstanding Awards (or awards of an acquiring company) and causing to be paid to the holders thereof, in cash,
shares of Common Stock, other securities or other property, or any combination thereof, the value of such Awards, if any, as determined
by the Committee (which if applicable may be based upon the price per share of Common Stock received or to be received by other
stockholders of the Company in such event), including without limitation, in the case of an outstanding Option or SAR, a cash
payment in an amount equal to the excess, if any, of the Fair Market Value (as of a date specified by the Committee) of the shares
of Common Stock subject to such Option or SAR over the aggregate Exercise Price or Strike Price of such Option or SAR, respectively
(it being understood that, in such event, any Option or SAR having a per-share Exercise Price or Strike Price equal to, or in
excess of, the Fair Market Value (as of the date specified by the Committee) of a share of Common Stock subject thereto may be
canceled and terminated without any payment or consideration therefor);


 


provided, however,
that the Committee shall make an equitable or proportionate adjustment to outstanding Awards to reflect any “equity restructuring”
(within the meaning of the Financial Accounting Standards Codification Topic 718 (or any successor pronouncement thereto)). Except
as otherwise determined by the Committee, any adjustment in Incentive Stock Options under this Section 11 (other than any cancellation
of Incentive Stock Options) shall be made only to the extent not constituting a “modification” within the meaning
of Section 424(h)(3) of the Code, and any adjustments under this Section 11 shall be made in a manner that does not adversely
affect the exemption provided pursuant to Rule 16b-3 promulgated under the Exchange Act. The Company shall give each Participant
notice of an adjustment hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes. In anticipation
of the occurrence of any event listed in the first sentence of this Section 11, for reasons of administrative convenience, the
Committee in its sole discretion may refuse to permit the exercise of any Award during a period of up to 30 days prior to, and/or
up to 30 days after, the anticipated occurrence of any such event.


 






     


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12.        Effect
of Termination of Service or a Change in Control on Awards. 


 


(a)        Termination.
To the extent permitted under Section 409A of the Code, the Committee may provide, by rule or regulation or in any applicable
Award Agreement, or may determine in any individual case, the circumstances in which, and to the extent to which, an Award may
be exercised, settled, vested, paid or forfeited in the event of the Participant’s termination of service prior to the end
of a performance period or vesting, exercise or settlement of such Award.


 


(b)        Change
in Control. In the event of a Change in Control, notwithstanding any provision of the Plan to the contrary, the Committee
may provide for: (i) continuation or assumption of such outstanding Awards under the Plan by the Company (if it is the surviving
corporation) or by the surviving corporation or its parent; (ii) substitution by the surviving corporation or its parent of awards
with substantially the same terms and value for such outstanding Awards (in the case of an Option or SAR, the Intrinsic Value
at grant of such Substitute Award shall equal the Intrinsic Value of the Award); (iii) acceleration of the vesting (including
the lapse of any restrictions, with any performance criteria or other performance conditions deemed met at target) or right to
exercise such outstanding Awards immediately prior to or as of the date of the Change in Control, and the expiration of such outstanding
Awards to the extent not timely exercised by the date of the Change in Control or other date thereafter designated by the Committee;
or (iv) in the case of an Option or SAR, cancelation in consideration of a payment in cash or other consideration to the Participant
who holds such Award in an amount equal to the Intrinsic Value of such Award (which may be equal to but not less than zero), which,
if in excess of zero, shall be payable upon the effective date of such Change in Control. For the avoidance of doubt, in the event
of a Change in Control, the Committee may, in its sole discretion, terminate any Option or SARs for which the exercise or strike
price is equal to or exceeds the per share value of the consideration to be paid in the Change in Control transaction without
payment of consideration therefor.


 


13.        Amendments
and Termination.


 


(a)        Amendment
and Termination of the Plan. The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion thereof
at any time; provided, that no such amendment, alteration, suspension, discontinuation or termination shall be made without
stockholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable to the Plan (including,
without limitation, as necessary to comply with any applicable rules or requirements of any securities exchange or inter-dealer
quotation service on which the shares of Common Stock may be listed or quoted, for changes in GAAP to new accounting standards);
provided, further, that any such amendment, alteration, suspension, discontinuance or termination that would materially
and adversely affect the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to
that extent be effective without the consent of the affected Participant, holder or beneficiary, unless the Committee determines
that such amendment, alteration, suspension, discontinuance or termination is either required or advisable in order for the Company,
the Plan or the Award to satisfy any applicable law or regulation. Notwithstanding the foregoing, no amendment shall be made to
the last proviso of Section 13(b) without stockholder approval.


 






     


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(b)        Amendment
of Award Agreements. The Committee may, to the extent not inconsistent with the terms of any applicable Award Agreement or
the Plan, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award
theretofore granted or the associated Award Agreement, prospectively or retroactively (including after the Participant’s
termination of employment or service with the Company); provided, that any such waiver, amendment, alteration, suspension,
discontinuance, cancellation or termination that would materially and adversely affect the rights of any Participant with respect
to any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant unless
the Committee determines that such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination is either
required or advisable in order for the Company, the Plan or the Award to satisfy any applicable law or regulation; provided,
further, that except as otherwise permitted under Section 11 of the Plan, if (i) the Committee reduces the Exercise
Price of any Option or the Strike Price of any SAR, (ii) the Committee cancels any outstanding Option or SAR and replaces
it with a new Option or SAR (with a lower Exercise Price or Strike Price, as the case may be) or other Award or cash in a manner
that would either (A) be reportable on the Company’s proxy statement or Form 10-K (if applicable) as Options that have
been “repriced” (as such term is used in Item 402 of Regulation S-K promulgated under the Exchange Act), or (B) result
in any “repricing” for financial statement reporting purposes (or otherwise cause the Award to fail to qualify for
equity accounting treatment), (iii) the Committee takes any other action that is considered a “repricing” for
purposes of the stockholder approval rules of the applicable securities exchange or inter-dealer quotation service on which the
Common Stock is listed or quoted, or (iv) the Committee cancels any outstanding Option or SAR that has a per-share Exercise
Price or Strike Price (as applicable) at or above the Fair Market Value of a share of Common Stock on the date of cancellation,
and pays any consideration to the holder thereof, whether in cash, securities, or other property, or any combination thereof,
then, in the case of the immediately preceding clauses (i) through (iv), any such action shall not be effective without stockholder
approval.


 


14.        General.


 


(a)        Award
Agreements; Other Agreements. Each Award under the Plan shall be evidenced by an Award Agreement, which shall be delivered
to the Participant and shall specify the terms and conditions of the Award and any rules applicable thereto. In the event of any
conflict between the terms of the Plan and any Award Agreement or employment, change-in-control, severance or other agreement
in effect with the Participant, the term of the Plan shall control.


 


(b)        Nontransferability.


 


(i)        Each
Award shall be exercisable only by the Participant during the Participant’s lifetime, or, if permissible under applicable
law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold
or otherwise transferred or encumbered by the Participant other than by will or by the laws of descent and distribution, and any
such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against
the Company or an Affiliate; provided, that the designation of a beneficiary shall not constitute an assignment, alienation,
pledge, attachment, sale, transfer or encumbrance.


 


(ii)       Notwithstanding
the foregoing, the Committee may permit Awards (other than Incentive Stock Options) to be transferred by the Participant, without
consideration, subject to such rules as the Committee may adopt, to (A) any person who is a “family member” of
the Participant, as such term is used in the instructions to Form S-8 under the Securities Act or any successor form of registration
statements promulgated by the Securities and Exchange Commission (collectively, the “Immediate Family Members”);
(B) a trust solely for the benefit of the Participant or the Participant’s Immediate Family Members; (C) a partnership
or limited liability company whose only partners or stockholders are the Participant and the Participant’s Immediate Family
Members; or (D) any other transferee as may be approved either (1) by the Board or the Committee, or (2) as provided
in the applicable Award Agreement; (each transferee described in clause (A), (B), (C) or (D) above is hereinafter referred to
as a “Permitted Transferee”); provided, that the Participant gives the Committee advance written notice
describing the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that such a
transfer would comply with the requirements of the Plan.


 


(iii)      The
terms of any Award transferred in accordance with the immediately preceding paragraph shall apply to the Permitted Transferee,
and any reference in the Plan, or in any applicable Award Agreement, to the Participant shall be deemed to refer to the Permitted
Transferee, except that (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will or the
laws of descent and distribution; (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless
there shall be in effect a registration statement on an appropriate form covering the shares of Common Stock to be acquired pursuant
to the exercise of such Option if the Committee determines, consistent with any applicable Award Agreement, that such a registration
statement is necessary or appropriate; (C) the Committee or the Company shall not be required to provide any notice to a
Permitted Transferee, whether or not such notice is or would otherwise have been required to be given to the Participant under
the Plan or otherwise; (D) the consequences of the termination of the Participant’s employment by, or services to,
the Company or an Affiliate under the terms of the Plan and the applicable Award Agreement shall continue to be applied with respect
to the transferred Award, including, without limitation, that an Option shall be exercisable by the Permitted Transferee only
to the extent, and for the periods, specified in the Plan and the applicable Award Agreement; and (E) any non-competition, non-solicitation,
non-disparagement, non-disclosure, or other restrictive covenants contained in any Award Agreement or other agreement between
the Participant and the Company or any Affiliate shall continue to apply to the Participant and the consequences of the violation
of such covenants shall continue to be applied with respect to the transferred Award, including without limitation the clawback
and forfeiture provisions of Section 14(u) of the Plan.


 






     


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(c)        Dividends
and Dividend Equivalents. The Committee may provide the Participant with dividends or dividend equivalents as part of an Award,
payable in cash, shares of Common Stock, other securities, other Awards or other property, on a current or deferred basis, on
such terms and conditions as may be determined by the Committee, including, without limitation, payment directly to the Participant,
withholding of such amounts by the Company subject to vesting of the Award or reinvestment in additional shares of Common Stock,
Restricted Stock or other Awards; provided, that no dividends or dividend equivalents shall be payable (i) in respect of
outstanding Options or SARs or (ii) in respect of any other Award unless and until the Participant vests in such underlying
Award; provided, further, that dividend equivalents may be accumulated in respect of unearned Awards and paid as
soon as administratively practicable, but no more than 60 days, after such Awards are earned and become payable or distributable
(and the right to any such accumulated dividends or dividend equivalents shall be forfeited upon the forfeiture of the Award to
which such dividends or dividend equivalents relate).


 


(d)        Tax
Withholding.


 


(i)        The
Participant shall be required to pay to the Company or any Affiliate, and the Company or any Affiliate shall have the right (but
not the obligation) and is hereby authorized to withhold, from any cash, shares of Common Stock, other securities or other property
deliverable under any Award or from any compensation or other amounts owing to the Participant, the amount (in cash, Common Stock,
other securities or other property) of any required withholding taxes (up to the maximum permissible withholding amounts) in respect
of an Award, its exercise, or any payment or transfer under an Award or under the Plan and to take such other action that the
Committee or the Company deem necessary to satisfy all obligations for the payment of such withholding taxes.


 






     


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(ii)       Without
limiting the generality of paragraph (i) above, the Committee may permit the Participant to satisfy, in whole or in part,
the foregoing withholding liability by (A) payment in cash, (B) the delivery of shares of Common Stock (which shares
are not subject to any pledge or other security interest) owned by the Participant having a Fair Market Value on such date equal
to such withholding liability or (C) having the Company withhold from the number of shares of Common Stock otherwise issuable
or deliverable pursuant to the exercise or settlement of the Award a number of shares with a Fair Market Value on such date equal
to such withholding liability. In addition, subject to any requirements of applicable law, the Participant may also satisfy the
tax withholding obligations by other methods, including selling shares of Common Stock that would otherwise be available for delivery,
provided that the Board or the Committee has specifically approved such payment method in advance.


 


(e)        No
Claim to Awards; No Rights to Continued Employment, Directorship or Engagement. No employee, director of the Company, consultant
providing service to the Company or an Affiliate, or other person, shall have any claim or right to be granted an Award under
the Plan or, having been selected for the grant of an Award, to be selected for a grant of any other Award. There is no obligation
for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the
Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant
and may be made selectively among Participants, whether or not such Participants are similarly situated. Neither the Plan nor
any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ or service of the
Company or an Affiliate, or to continue in the employ or the service of the Company or an Affiliate, nor shall it be construed
as giving any Participant who is a director any rights to continued service on the Board.


 


(f)        International
Participants. With respect to Participants who reside or work outside of the United States, the Committee may amend the terms
of the Plan or appendices thereto, or outstanding Awards, with respect to such Participants, in order to conform such terms with
or accommodate the requirements of local laws, procedures or practices or to obtain more favorable tax or other treatment for
the Participant, the Company or its Affiliates. Without limiting the generality of this subsection, the Committee is specifically
authorized to adopt rules, procedures and sub-plans with provisions that limit or modify rights on death, disability, retirement
or other terminations of employment, available methods of exercise or settlement of an Award, payment of income, social insurance
contributions or payroll taxes, withholding procedures and handling of any stock certificates or other indicia of ownership that
vary with local requirements. The Committee may also adopt rules, procedures or sub-plans applicable to particular Affiliates
or locations.


 


(g)        Beneficiary
Designation. The Participant’s beneficiary shall be the Participant’s spouse (or domestic partner if such status
is recognized by the Company and in such jurisdiction), or if the Participant is otherwise unmarried at the time of death, the
Participant’s estate, except to the extent that a different beneficiary is designated in accordance with procedures that
may be established by the Committee from time to time for such purpose. Notwithstanding the foregoing, in the absence of a beneficiary
validly designated under such Committee-established procedures and/or applicable law who is living (or in existence) at the time
of death of a Participant residing or working outside the United States, any required distribution under the Plan shall be made
to the executor or administrator of the estate of the Participant, or to such other individual as may be prescribed by applicable
law.


 






     


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(h)        Termination
of Employment or Service. The Committee, in its sole discretion, shall determine the effect of all matters and questions related
to the termination of employment of or service of a Participant. Except as otherwise provided in an Award Agreement, or any employment,
consulting, change-in-control, severance or other agreement between the Participant and the Company or an Affiliate, unless determined
otherwise by the Committee: (i) neither a temporary absence from employment or service due to illness, vacation or leave
of absence (including, without limitation, a call to active duty for military service through a Reserve or National Guard unit)
nor a transfer from employment or service with the Company to employment or service with an Affiliate (or vice versa) shall be
considered a termination of employment or service with the Company or an Affiliate; and (ii) if the Participant’s employment
with the Company or its Affiliates terminates, but such Participant continues to provide services with the Company or its Affiliates
in a non-employee capacity (including as a non-employee director) (or vice versa), such change in status shall not be considered
a termination of employment or service with the Company or an Affiliate for purposes of the Plan.


 


(i)        No
Rights as a Stockholder. Except as otherwise specifically provided in the Plan or any Award Agreement, no person shall be
entitled to the privileges of ownership in respect of shares of Common Stock that are subject to Awards hereunder until such shares
have been issued or delivered to that person.


 


(j)         Government
and Other Regulations.


 


(i)        Nothing
in the Plan shall be deemed to authorize the Committee or Board or any members thereof to take any action contrary to applicable
law or regulation, or rules of the NASDAQ or any other securities exchange or inter-dealer quotation service on which the Common
Stock is listed or quoted.


 


(ii)       The
obligation of the Company to settle Awards in Common Stock or other consideration shall be subject to all applicable laws, rules,
and regulations, and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of
any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from
offering to sell or selling, any shares of Common Stock pursuant to an Award unless such shares have been properly registered
for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless the Company has received an opinion
of counsel, satisfactory to the Company, that such shares may be offered or sold without such registration pursuant to and in
compliance with the terms of an available exemption. The Company shall be under no obligation to register for sale under the Securities
Act any of the shares of Common Stock to be offered or sold under the Plan. The Committee shall have the authority to provide
that all shares of Common Stock or other securities of the Company or any Affiliate delivered under the Plan shall be subject
to such stop-transfer orders and other restrictions as the Committee may deem advisable under the Plan, the applicable Award Agreement,
U.S. federal securities laws, or the rules, regulations and other requirements of the U.S. Securities and Exchange Commission,
any securities exchange or inter-dealer quotation service upon which such shares or other securities of the Company are then listed
or quoted and any other applicable federal, state, local or non-U.S. laws, rules, regulations and other requirements, and, without
limiting the generality of Section 9 of the Plan, the Committee may cause a legend or legends to be put on any such certificates
of Common Stock or other securities of the Company or any Affiliate delivered under the Plan to make appropriate reference to
such restrictions or may cause such Common Stock or other securities of the Company or any Affiliate delivered under the Plan
in book-entry form to be held subject to the Company’s instructions or subject to appropriate stop-transfer orders. Notwithstanding
any provision in the Plan to the contrary, the Committee reserves the right to add any additional terms or provisions to any Award
granted under the Plan that it in its sole discretion deems necessary or advisable in order that such Award complies with the
legal requirements of any governmental entity to whose jurisdiction the Award is subject.


 






     


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(iii)      The
Committee may cancel an Award or any portion thereof if it determines that legal or contractual restrictions and/or blockage and/or
other market considerations would make the Company’s acquisition of shares of Common Stock from the public markets, the
Company’s issuance of Common Stock to the Participant, the Participant’s acquisition of Common Stock from the Company
and/or the Participant’s sale of Common Stock to the public markets illegal, impracticable or inadvisable. If the Committee
determines to cancel all or any portion of an Award in accordance with the foregoing, unless prevented by applicable laws, the
Company shall pay to the Participant an amount equal to the excess of (A) the aggregate Fair Market Value of the shares of
Common Stock subject to such Award or portion thereof canceled (determined as of the applicable exercise date, or the date that
the shares would have been vested or delivered, as applicable), over (B) the aggregate Exercise Price or Strike Price (in
the case of an Option or SAR, respectively) or any amount payable as a condition of delivery of shares of Common Stock (in the
case of any other Award). Such amount shall be delivered to the Participant as soon as practicable following the cancellation
of such Award or portion thereof.


 


(k)        Lock-Up
Agreement. As a condition to the grant of an Award, if requested by the Company and the lead underwriter of any public offering
of Common Stock (the “Lead Underwriter”), a Participant must irrevocably agree not to sell, contract
to sell, grant any option to purchase, transfer the economic risk of ownership in, make any short sale of, pledge or otherwise
transfer or dispose of, any interest in any Common Stock or any securities convertible into, derivative of, or exchangeable or
exercisable for, or any other rights to purchase or acquire Common Stock (except Common Stock included in such public offering
or acquired on the public market after such offering) during such period of time after the effective date of a registration statement
of the Company filed under the Securities Act that the Lead Underwriter may specify (the “Lock-Up Period”).
Each Participant must sign such documents as may be requested by the Lead Underwriter or the Company to effect the foregoing.
The Company may impose stop-transfer instructions with respect to Common Stock acquired under an Award until the end of such Lock-Up
Period. In addition, the Company may impose additional restrictions.


 


(l)         Payments
to Persons Other Than Participants. If the Committee shall find that any person to whom any amount is payable under the Plan
is unable to care for such person’s affairs because of illness or accident, or is a minor, or has died, then any payment
due to such person or such person’s estate (unless a prior claim therefor has been made by a duly appointed legal representative
or a beneficiary designation form has been filed with the Company) may, if the Committee so directs the Company, be paid to such
person’s spouse, child, or relative, or an institution maintaining or having custody of such person, or any other person
deemed by the Committee to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall
be a complete discharge of the liability of the Committee and the Company therefor.


 


(m)       Nonexclusivity
of the Plan. Neither the adoption of the Plan by the Board nor the submission of the Plan to the stockholders of the Company
for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements
as it may deem desirable, including, without limitation, the granting of stock options or awards otherwise than under the Plan,
and such arrangements may be either applicable generally or only in specific cases.


 


(n)        No
Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any
kind or a fiduciary relationship between the Company or any Affiliate, on the one hand, and the Participant or other person or
entity, on the other hand. No provision of the Plan or any Award shall require the Company, for the purpose of satisfying any
obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made
or to otherwise segregate any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence
of the existence of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights
under the Plan other than as unsecured general creditors of the Company.


 






     


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(o)       Reliance
on Reports. Each member of the Committee and each member of the Board (and each such member’s respective designees)
shall be fully justified in acting or failing to act, as the case may be, and shall not be liable for having so acted or failed
to act in good faith, in reliance upon any report made by the independent registered public accounting firm of the Company and
its Affiliates and/or any other information furnished in connection with the Plan by any agent of the Company or the Committee
or the Board, other than such member or designee.


 


(p)       Relationship
to Other Benefits. No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement,
profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan.


 


(q)       Governing
Law. The Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles
of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction that could cause the application of
the laws of any jurisdiction other than the State of Delaware.


 


(r)        Severability.
If any provision of the Plan or any Award or Award Agreement is or becomes or is deemed to be invalid, illegal, or unenforceable
in any jurisdiction or as to any person or entity or Award, or would disqualify the Plan or any Award under any law deemed applicable
by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed
or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such
provision shall be construed or deemed stricken as to such jurisdiction, person or entity or Award, and the remainder of the Plan
and any such Award shall remain in full force and effect.


 


(s)       Obligations
Binding on Successors. The obligations of the Company under the Plan shall be binding upon any successor corporation or organization
resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization
succeeding to all or substantially all of the assets and business of the Company.


 


(t)        Section
409A of the Code.


 


(i)        It
is intended that the Plan comply with Section 409A of the Code, and all provisions of the Plan shall be construed and interpreted
in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. Each Participant
is solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or in respect of such
Participant in connection with the Plan or any other plan maintained by the Company, including any taxes and penalties under Section
409A of the Code, and neither the Company nor any Affiliate shall have any obligation to indemnify or otherwise hold such Participant
or any beneficiary harmless from any or all of such taxes or penalties. With respect to any Award that is considered “deferred
compensation” subject to Section 409A of the Code, references in the Plan to “termination of employment” (and
substantially similar phrases) shall mean “separation from service” within the meaning of Section 409A of the Code.
For purposes of Section 409A of the Code, each of the payments that may be made in respect of any Award granted under the Plan
is designated as a separate payment.


 


(ii)       Notwithstanding
anything in the Plan to the contrary, if the Participant is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i)
of the Code, no payments or deliveries in respect of any Awards that are “deferred compensation” subject to Section
409A of the Code shall be made to such Participant prior to the date that is six months after the date of such Participant’s
 “separation from service” within the meaning of Section 409A of the Code or, if earlier, the Participant’s date
of death. All such delayed payments or deliveries will be paid or delivered (without interest) in a single lump sum on the earliest
date permitted under Section 409A of the Code that is also a business day.


 






     


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(iii)      In
the event that the timing of payments in respect of any Award that would otherwise be considered “deferred compensation”
subject to Section 409A of the Code would be accelerated upon the occurrence of (A) a Change in Control, no such acceleration
shall be permitted unless the event giving rise to the Change in Control satisfies the definition of a change in the ownership
or effective control of a corporation, or a change in the ownership of a substantial portion of the assets of a corporation pursuant
to Section 409A of the Code and any Treasury Regulations promulgated thereunder or (B) a Disability, no such acceleration
shall be permitted unless the Disability also satisfies the definition of “disability” pursuant to Section 409A of
the Code and any Treasury Regulations promulgated thereunder.


 


(u)        Clawback/Forfeiture. Notwithstanding anything to the contrary contained herein, the Committee may cancel an Award if the Participant, without the consent
of the Company, (A) has engaged in or engages in activity that is in conflict with or adverse to the interests of the Company or
any Affiliate while employed by or providing services to the Company or any Affiliate, including fraud or conduct contributing to any
financial restatements or irregularities or (B) violates a non-competition, non-solicitation, non-disparagement or non-disclosure
covenant or agreement with the Company or any Affiliate, as determined by the Committee, or if the Participant’s employment or
service is terminated for Cause. The Committee may also provide in an Award Agreement that in any such event the Participant will forfeit
any compensation, gain or other value realized thereafter on the vesting, exercise or settlement of such Award, the sale or other transfer
of such Award, or the sale of shares of Common Stock acquired in respect of such Award, and must promptly repay such amounts to the Company.
The Committee may also provide in an Award Agreement that if the Participant receives any amount in excess of what the Participant should
have received under the terms of the Award for any reason (including without limitation by reason of a financial restatement, mistake
in calculations or other administrative error), all as determined by the Committee, then the Participant shall be required to promptly
repay any such excess amount to the Company. In addition, the Company shall retain the right to bring an action at equity or law to enjoin
the Participant’s activity and recover damages resulting from such activity. Further, to the extent required by applicable law
(including, without limitation, Section 304 of the Sarbanes-Oxley Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer
Protection Act) and/or the rules and regulations of the NASDAQ or any other securities exchange or inter-dealer quotation service on
which the Common Stock is listed or quoted, or if so required pursuant to a written policy adopted by the Company, Awards shall be subject
(including on a retroactive basis) to clawback, forfeiture or similar requirements (and such requirements shall be deemed incorporated
by reference into all outstanding Award Agreements).


 


(v)   
     No Representations or Covenants With Respect to Tax Qualification. Although the
Company may endeavor to (i) qualify an Award for favorable U.S. or non-U.S. tax treatment or (ii) avoid adverse tax
treatment, the Company makes no representation to that effect and expressly disavows any covenant to maintain favorable or
avoid unfavorable tax treatment. The Company shall be unconstrained in its corporate activities without regard to the
potential negative tax impact on holders of Awards under the Plan.


 


(w)    
    No Interference. The existence of the Plan, any Award Agreement, and the Awards granted
hereunder shall not affect or restrict in any way the right or power of the Company, the Board, the Committee, or the
stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization, or other change in the
Company’s capital structure or its business, any merger or consolidation of the Company, any issue of stock or of
options, warrants, or rights to purchase stock or of bonds, debentures, or preferred or prior preference stocks whose rights
are superior to or affect the Common Stock or the rights thereof or that are convertible into or exchangeable for Common
Stock, or the dissolution or liquidation of the Company or any Affiliate, or any sale or transfer of all or any part of their
assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.


 






     


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(x)         Expenses;
Titles and Headings. The expenses of administering the Plan shall be borne by the Company and its Affiliates. The titles and
headings of the sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the
Plan, rather than such titles or headings shall control.


 


(y)        Whistleblower
Acknowledgments. Notwithstanding anything to the contrary herein, nothing in this Plan or any Award Agreement will (i) prohibit
a Participant from making reports of possible violations of federal law or regulation to any governmental agency or entity in
accordance with the provisions of and rules promulgated under Section 21F of the Exchange Act or Section 806 of the Sarbanes-Oxley
Act of 2002, or of any other whistleblower protection provisions of federal law or regulation, or (ii) require prior approval
by the Company or any of its Affiliates of any reporting described in clause (i).


 


* * *


 


As adopted by the Board of Directors of the Company on [________],
2021.


 


As approved by the stockholders of the
Company on [________], 2021.