Exhibit 4.5


 


O2 MICRO INTERNATIONAL LIMITED


 


2015 SHARE INCENTIVE PLAN


 


1.                 
Purposes of the Plan. The purposes of this Plan are to attract and retain the best available personnel, to provide
additional incentives to Employees, Directors and Consultants and to promote the success of the Company’s business.


 


2.                 
Definitions. The following definitions shall apply as used herein and in the individual Award Agreements except as
defined otherwise in an individual Award Agreement. In the event a term is separately defined in an individual Award Agreement,
such definition shall supersede the definition contained in this Section 2.


 


(a)    “Administrator”
means the Board or any of the Committees appointed to administer the Plan.


 


(b)   “ADS”
means an American Depositary Share of the Company, each of which represents fifty (50) Ordinary Shares.


 


(c)    “Affiliate”
and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 promulgated under
the Exchange Act.


 


(d)   “Applicable
Laws” means the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate and
securities laws of the Cayman Islands, the Code, the rules of any applicable stock exchange or national market system, and the
laws and rules of any jurisdiction applicable to Awards granted to residents therein.


 


(e)    “Assumed”
means that pursuant to a Corporate Transaction either (i) the Award is expressly affirmed by the Company or (ii) the
contractual obligations represented by the Award are expressly assumed (and not simply by operation of law) by the successor entity
or its Parent in connection with the Corporate Transaction with appropriate adjustments to the number and type of securities of
the successor entity or its Parent subject to the Award and the exercise or purchase price thereof which at least preserves the
compensation element of the Award existing at the time of the Corporate Transaction as determined in accordance with the instruments
evidencing the agreement to assume the Award.


 


(f)    “Award”
means the grant of an Option, SAR, Dividend Equivalent Right, Restricted Share, Restricted Share Unit or other right or benefit
under the Plan.


 


(g)   “Award
Agreement” means the written agreement evidencing the grant of an Award executed by the Company and the Grantee, including
any amendments thereto.


 


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


 






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(i)     “Cause”
means, with respect to the termination by the Company or a Related Entity of the Grantee’s Continuous Service, that such
termination is for “Cause” as such term (or word of like import) is expressly defined in a then-effective written agreement
between the Grantee and the Company or such Related Entity, or in the absence of such then-effective written agreement and definition,
is based on, in the determination of the Administrator, the Grantee’s: (i) performance of any act or failure to perform any
act in bad faith and to the detriment of the Company or a Related Entity; (ii) dishonesty, intentional misconduct or material breach
of any agreement with the Company or a Related Entity; or (iii) commission of a crime involving dishonesty, breach of trust, or
physical or emotional harm to any person; provided, however, that with regard to any agreement that defines “Cause”
on the occurrence of or in connection with a Corporate Transaction, such definition of “Cause” shall not apply until
a Corporate Transaction actually occurs.


 


(j)     “Code”
means the Internal Revenue Code of 1986, as amended.


 


(k)   “Committee”
means any committee composed of members of the Board appointed by the Board to administer the Plan.


 


(l)     “Company”
means O2 Micro International Limited, a Cayman Islands Company, or any successor entity that adopts the Plan in connection with
a Corporate Transaction.


 


(m) “Consultant”
means any person (other than an Employee or a Director, solely with respect to rendering services in such person’s capacity
as a Director) who is engaged by the Company or any Related Entity to render consulting or advisory services to the Company or
such Related Entity.


 


(n)   “Continuous
Service” means that the provision of services to the Company or a Related Entity in any capacity of Employee, Director
or Consultant is not interrupted or terminated. In jurisdictions requiring notice in advance of an effective termination as an
Employee, Director or Consultant, Continuous Service shall be deemed terminated upon the actual cessation of providing services
to the Company or a Related Entity notwithstanding any required notice period that must be fulfilled before a termination as an
Employee, Director or Consultant can be effective under Applicable Laws. A Grantee’s Continuous Service shall be deemed to
have terminated either upon an actual termination of Continuous Service or upon the entity for which the Grantee provides services
ceasing to be a Related Entity. Continuous Service shall not be considered interrupted in the case of (i) any approved leave
of absence, (ii) transfers among the Company, any Related Entity, or any successor, in any capacity of Employee, Director
or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Related
Entity in any capacity of Employee, Director or Consultant (except as otherwise provided in the Award Agreement). Notwithstanding
the foregoing, except as otherwise determined by the Administrator, in the event of any spin-off of a Related Entity, service as
an Employee, Director or Consultant for such Related Entity following such spin-off shall be deemed to be Continuous Service for
purposes of the Plan and any Award under the Plan. An approved leave of absence shall include sick leave, military leave, or any
other authorized personal leave. For purposes of each Incentive Share Option granted under the Plan, if such leave exceeds three
(3) months, and reemployment upon expiration of such leave is not guaranteed by statute or contract, then the Incentive Share Option
shall be treated as a Non-Qualified Share Option on the day three (3) months and one (1) day following the expiration of such three
(3) month period.


 






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(o)              
“Corporate Transaction” means any of the following transactions, provided, however, that the Administrator
shall determine under parts (iv) and (v) whether multiple transactions are related, and its determination shall be final, binding
and conclusive:


 


(i)                
a merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose
of which is to change the jurisdiction in which the Company is incorporated;


 


(ii)              
the sale, transfer or other disposition of all or substantially all of the assets of the Company;


 


(iii)            
the complete liquidation or dissolution of the Company;


 


(iv)            
any reverse merger or series of related transactions culminating in a reverse merger (including, but not limited to, a tender
offer followed by a reverse merger) in which the Company is the surviving entity but (A) the Ordinary Shares outstanding immediately
prior to such merger are converted or exchanged by virtue of the merger into other property, whether in the form of securities,
cash or otherwise, or (B) in which securities possessing more than forty percent (40%) of the total combined voting power
of the Company’s outstanding securities are transferred to a person or persons different from those who held such securities
immediately prior to such merger or the initial transaction culminating in such merger, but excluding any such transaction
or series of related transactions that the Administrator determines shall not be a Corporate Transaction; or


 


(v)              
an acquisition in a single or series of related transactions by any person or related group of persons (other than the Company
or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange
Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding
securities but excluding any such transaction or series of related transactions that the Administrator determines shall not be
a Corporate Transaction.


 


(p)   “Director”
means a member of the Board or the board of directors of any Related Entity.


 


(q)   “Disability”
means as defined under the long-term disability policy of the Company or the Related Entity to which the Grantee provides services
regardless of whether the Grantee is covered by such policy. If the Company or the Related Entity to which the Grantee provides
service does not have a long-term disability plan in place, “Disability” means that a Grantee is unable to carry out
the responsibilities and functions of the position held by the Grantee by reason of any medically determinable physical or mental
impairment for a period of not less than ninety (90) consecutive days. A Grantee will not be considered to have incurred a Disability
unless he or she furnishes proof of such impairment sufficient to satisfy the Administrator in its discretion.


 






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(r)     “Dividend
Equivalent Right” means a right entitling the Grantee to compensation measured by dividends paid with respect to Ordinary
Shares. Dividend Equivalent Rights granted in connection with Restricted Shares or Restricted Share Units that vest based on achievement
of performance objectives shall be held subject to the vesting of the underlying Restricted Shares or Restricted Share Units.


 


(s)    “Employee”
means any person, including an Officer or Director, who is in the employ of the Company or any Related Entity, subject to the control
and direction of the Company or any Related Entity as to both the work to be performed and the manner and method of performance.
The payment of a director’s fee by the Company or a Related Entity shall not be sufficient to constitute “employment”
by the Company.


 


(t)     “Exchange
Act” means the Securities Exchange Act of 1934, as amended.


 


(u)   “Fair
Market Value” means, as of any date, the value of Shares determined as follows:


 


(i)                
If the Shares are listed on one or more established stock exchanges or national market systems, including without limitation
The NASDAQ Global Select Market, The NASDAQ Global Market or The NASDAQ Capital Market of The NASDAQ Stock Market LLC, its Fair
Market Value shall be the closing sales price for such Shares (or the closing bid, if no sales were reported) as quoted on the
principal exchange or system on which the Shares are listed (as determined by the Administrator) on the date of determination (or,
if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing sales
price or closing bid was reported), as reported in The Wall Street Journal, The Asian Wall Street Journal, or such other source
as the Administrator deems reliable;


 


(ii)              
If the Shares are regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized
securities dealer, its Fair Market Value shall be the closing sales price for such shares as quoted on such system or by such securities
dealer on the date of determination, but if selling prices are not reported, the Fair Market Value of a Share shall be the mean
between the high bid and low asked prices for the Shares on the date of determination (or, if no such prices were reported on that
date, on the last date such prices were reported), as reported in The Wall Street Journal, The Asian Wall Street Journal or such
other source as the Administrator deems reliable; or


 


(iii)            
In the absence of an established market for the Shares of the type described in (i) and (ii), above, the Fair Market Value
thereof shall be determined by the Administrator in good faith.


 


(v)   “Grantee”
means an Employee, Director or Consultant who receives an Award under the Plan.


 


(w) “Incentive Share
Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the
Code.


 


(x)   “Non-Qualified
Share Option” means an Option not intended to qualify as an Incentive Share Option.


 






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(y)   “Officer”
means a person who is an officer of the Company or a Related Entity within the meaning of Section 16 of the Exchange Act and
the rules and regulations promulgated thereunder.


 


(z)    “Option”
means an option to purchase Shares pursuant to an Award Agreement granted under the Plan.


 


(aa)   “Ordinary Share” means an ordinary share of
the Company.


 


(bb)   “Parent” means a “parent corporation”, whether now or hereafter existing, as defined in Section 424(e)
of the Code.


 


(cc)    “Plan” means this 2015 Share Incentive Plan.


 


(dd)   “Related Entity” means any Parent or Subsidiary of the Company.


 


(ee)   “Replaced” means that pursuant to a Corporate
Transaction the Award is replaced with a comparable share award or a cash incentive program of the Company, the successor
entity (if applicable) or Parent of either of them which preserves the compensation element of such Award existing at the time
of the Corporate Transaction and provides for subsequent payout in accordance with the same (or a more favorable) vesting schedule
applicable to such Award. The determination of Award comparability shall be made by the Administrator and its determination shall
be final, binding and conclusive.


 


(ff)    “Restricted Shares” means Shares issued under
the Plan to the Grantee for such consideration, if any, and subject to such restrictions on transfer, rights of first refusal,
repurchase provisions, forfeiture provisions, and other terms and conditions as established by the Administrator. Dividends payable
with respect to Restricted Shares that vest based on achievement of performance objectives shall be held subject to the vesting
of the underlying Shares.


 


(gg)   “Restricted Share Units” means an Award which may be earned in whole or in part upon the passage of time
or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities
or a combination of cash, Shares or other securities as established by the Administrator.


 


(hh)    “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor thereto.


 


(ii)      “SAR”
means a share appreciation right entitling the Grantee to Shares or cash compensation, as established by the Administrator, measured
by appreciation in the value of Shares.


 


(jj)       “Share”
means an Ordinary Share or ADS of the Company.


 


(kk)     “Subsidiary” means a “subsidiary corporation”, whether now or hereafter existing, as defined
in Section 424(f) of the Code.


 






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3.                 
Shares Subject to the Plan.


 


(a)    Subject
to the provisions of Section 10, below, the maximum aggregate number of ADSs which may be issued pursuant to all Awards is two
million (2,000,000) ADSs, plus the number of ADSs that remain available for grants of awards under the Company’s 2005 Share
Option Plan and 2005 Share Incentive Plan as of the date the Plan is approved by the Company’s shareholders, plus any ADSs
that would otherwise return to the Company’s 2005 Share Option Plan and 2005 Share Incentive Plan as a result of forfeiture,
termination or expiration of awards previously granted under the Company’s 2005 Share Option Plan and 2005 Share Incentive
Plan (ignoring the termination or expiration of the Company’s 2005 Share Option Plan and 2005 Share Incentive Plan for the
purpose of determining the number of ADSs available under the Plan); provided, however, that the maximum aggregate number of ADSs
that may be issued pursuant to Incentive Share Options is two million five hundred thousand (2,500,000) ADSs and the maximum aggregate
number of ADSs that may be issued pursuant to SARs and Restricted Share Units is two million five hundred thousand (2,500,000)
ADSs. The Shares to be issued pursuant to Awards may be authorized, but unissued or reacquired Ordinary Shares.


 


(b)   Any Ordinary Shares
covered by an Award (or portion of an Award) which are forfeited, canceled or otherwise expire (whether voluntarily or involuntarily)
shall not be deemed to have been issued for purposes of determining the maximum aggregate number of Ordinary Shares which may be
issued under the Plan. With the exception of the foregoing, any Ordinary Shares that have been issued under the Plan pursuant to
an Award shall not be returned to the Plan and shall not become available for future issuance under the Plan, however, if unvested
Ordinary Shares are repurchased by the Company at the lower of their original purchase price or their Fair Market Value at the
time of repurchase, such Ordinary Shares shall become available for future grant under the Plan. Notwithstanding anything to the
contrary contained herein: (i) Ordinary Shares tendered or withheld in payment of an Option exercise price shall not be returned
to the Plan and shall not become available for future issuance under the Plan; (ii) Ordinary Shares withheld by the Company to
satisfy any tax withholding obligation shall not be returned to the Plan and shall not become available for future issuance under
the Plan; and (iii) all Ordinary Shares covered by the portion of an SAR that is exercised (whether or not Ordinary Shares are
actually issued to the Grantee upon exercise of the SAR) shall be considered issued pursuant to the Plan.


 


(c)    For purposes
of calculating the number of Ordinary Shares issued under the Plan (and for purposes of calculating any limit set forth herein),
the issuance of an ADS shall be deemed to be equal to a number of Ordinary Shares determined by multiplying (i) the number of ADSs
issued by (ii) the ADS Multiplier. For purposes of the previous sentence, “ADS Multiplier” means the number of Ordinary
Shares corresponding to one (1) ADS.


 


4.                 
Administration of the Plan.


 


(a)    Plan
Administrator.


 






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(i)                
Administration with Respect to Directors and Officers. With respect to grants of Awards to Directors or Employees
who are also Officers or Directors of the Company, the Plan shall be administered by (A) the Board or (B) a Committee
designated by the Board, which Committee shall be constituted in such a manner as to satisfy the Applicable Laws and to permit
such grants and related transactions under the Plan to be exempt from Section 16(b) of the Exchange Act in accordance with
Rule 16b-3. Once appointed, such Committee shall continue to serve in its designated capacity until otherwise directed by
the Board.


 


(ii)              
Administration With Respect to Consultants and Other Employees. With respect to grants of Awards to Employees or
Consultants who are neither Directors nor Officers of the Company, the Plan shall be administered by (A) the Board or (B) a Committee
designated by the Board, which Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once appointed,
such Committee shall continue to serve in its designated capacity until otherwise directed by the Board. The Board may authorize
one or more Officers to grant such Awards and may limit such authority as the Board determines from time to time.


 


(iii)            
Administration Errors. In the event an Award is granted in a manner inconsistent with the provisions of this subsection (a),
such Award shall be presumptively valid as of its grant date to the extent permitted by the Applicable Laws.


 


(b)   Powers of the
Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Administrator
hereunder), and except as otherwise provided by the Board, the Administrator shall have the authority, in its discretion:


 


(i)                
to select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder;


 


(ii)              
to determine whether and to what extent Awards are granted hereunder;


 


(iii)            
to determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder;


 


(iv)            
to approve forms of Award Agreements for use under the Plan;


 


(v)              
to determine the terms and conditions of any Award granted hereunder;


 


(vi)            
to amend the terms of any outstanding Award granted under the Plan, provided that (A) any amendment that would adversely
affect the Grantee’s rights under an outstanding Award shall not be made without the Grantee’s written consent, provided,
however, that an amendment or modification that may cause an Incentive Share Option to become a Non-Qualified Share Option shall
not be treated as adversely affecting the rights of the Grantee (B) the reduction of the exercise price of any Option awarded under
the Plan and the base appreciation amount of any SAR awarded under the Plan shall be subject to shareholder approval and (C) canceling
an Option or SAR at a time when its exercise price or base appreciation amount (as applicable) exceeds the Fair Market Value of
the underlying Shares, in exchange for another Option, SAR, Restricted Shares, or other Award or for cash shall be subject to shareholder
approval, unless the cancellation and exchange occurs in connection with a Corporate Transaction. Notwithstanding the foregoing,
canceling an Option or SAR in exchange for another Option, SAR, Restricted Shares, or other Award or for cash with an exercise
price, purchase price or base appreciation amount (as applicable) that is equal to or greater than the exercise price or base appreciation
amount (as applicable) of the original Option or SAR shall not be subject to shareholder approval;


 






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(vii)          
to construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement,
granted pursuant to the Plan;


 


(viii)        
to grant Awards to Employees, Directors and Consultants employed outside the United States on such terms and conditions
different from those specified in the Plan as may, in the judgment of the Administrator, be necessary or desirable to further the
purpose of the Plan; and


 


(ix)            
to take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate.


 


The express grant in the Plan of any specific power to the Administrator
shall not be construed as limiting any power or authority of the Administrator; provided that the Administrator may not exercise
any right or power reserved to the Board. Any decision made, or action taken, by the Administrator or in connection with the administration
of this Plan shall be final, conclusive and binding on all persons having an interest in the Plan.


 


(c)    Indemnification.
In addition to such other rights of indemnification as they may have as members of the Board or as Officers or Employees of the
Company or a Related Entity, members of the Board and any Officers or Employees of the Company or a Related Entity to whom authority
to act for the Board, the Administrator or the Company is delegated shall be defended and indemnified by the Company to the extent
permitted by law on an after-tax basis against all reasonable expenses, including attorneys’ fees, actually and necessarily
incurred in connection with the defense of any claim, investigation, action, suit or proceeding, or in connection with any appeal
therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with
the Plan, or any Award granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement
is approved by the Company) or paid by them in satisfaction of a judgment in any such claim, investigation, action, suit or proceeding,
except in relation to matters as to which it shall be adjudged in such claim, investigation, action, suit or proceeding that such
person is liable for gross negligence, bad faith or intentional misconduct; provided, however, that within thirty (30) days after
the institution of such claim, investigation, action, suit or proceeding, such person shall offer to the Company, in writing, the
opportunity at the Company’s expense to defend the same.


 


5.                 
Eligibility. Awards other than Incentive Share Options may be granted to Employees, Directors and Consultants. Incentive
Share Options may be granted only to Employees of the Company or a Parent or a Subsidiary of the Company. An Employee, Director
or Consultant who has been granted an Award may, if otherwise eligible, be granted additional Awards. Awards may be granted to
such Employees, Directors or Consultants who are residing in non-U.S. jurisdictions as the Administrator may determine from time
to time.


 






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6.                 
Terms and Conditions of Awards.


 


(a)    Types of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee,
Director or Consultant that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve
the issuance of (i) Shares, (ii) cash or (iii) an Option, a SAR, or similar right with a fixed or variable price
related to the Fair Market Value of the Shares and with an exercise or conversion privilege related to the passage of time, the
occurrence of one or more events, or the satisfaction of performance criteria or other conditions. Such awards include, without
limitation, Options, SARs, sales or bonuses of Restricted Shares, Restricted Share Units, or Dividend Equivalent Rights, and an
Award may consist of one such security or benefit, or two (2) or more of them in any combination or alternative.


 


(b)   Designation
of Award. Each Award shall be designated in the Award Agreement. In the case of an Option, the Option shall be designated as
either an Incentive Share Option or a Non-Qualified Share Option. However, notwithstanding such designation, an Option will qualify
as an Incentive Share Option under the Code only to the extent the $100,000 limitation of Section 422(d) of the Code is not
exceeded. The $100,000 limitation of Section 422(d) of the Code is calculated based on the aggregate Fair Market Value of
the Shares subject to Options designated as Incentive Share Options which become exercisable for the first time by a Grantee during
any calendar year (under all plans of the Company or any Parent or Subsidiary of the Company). For purposes of this calculation,
Incentive Share Options shall be taken into account in the order in which they were granted, and the Fair Market Value of the Shares
shall be determined as of the grant date of the relevant Option. In the event that the Code or the regulations promulgated thereunder
are amended after the date the Plan becomes effective to provide for a different limit on the Fair Market Value of Shares permitted
to be subject to Incentive Share Options, then such different limit will be automatically incorporated herein and will apply to
any Options granted after the effective date of such amendment.


 


(c)    Conditions
of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions of each
Award including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions,
form of payment (cash, Shares, or other consideration) upon settlement of the Award, payment contingencies, and satisfaction of
any performance criteria; provided, however, that each Award shall be subject to a minimum vesting period of twelve (12) months.
The performance criteria established by the Administrator may be based on any one of, or combination of, the following with respect
to the Company, any Subsidiary, any division or operating unit: (a) increase in share price, (ii) earnings per share, (iii) total
shareholder return, (iv) operating margin, (v) gross margin, (vi) return on equity, (vii) return on assets, (viii) return on investment,
(ix) operating income, (x) net operating income, (xi) pre-tax profit, (xii) cash flow, (xiii) revenue, (xiv) expenses, (xv) earnings
before interest, taxes and depreciation, (xvi) economic value added and (xvii) market share. The performance criteria may be applicable
to the Company, Related Entities and/or any individual business units of the Company or any Related Entity. Partial achievement
of the specified criteria may result in a payment or vesting corresponding to the degree of achievement as specified in the Award
Agreement. In addition, the performance criteria shall be calculated in accordance with generally accepted accounting principles,
but excluding the effect (whether positive or negative) of any change in accounting standards and any extraordinary, unusual or
nonrecurring item, as determined by the Administrator, occurring after the establishment of the performance criteria applicable
to the Award intended to be performance-based compensation. Each such adjustment, if any, shall be made solely for the purpose
of providing a consistent basis from period to period for the calculation of performance criteria in order to prevent the dilution
or enlargement of the Grantee’s rights with respect to an Award intended to be performance-based compensation.


 






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(d)   Acquisitions
and Other Transactions. The Administrator may issue Awards under the Plan in settlement, assumption or substitution for, outstanding
awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity, an interest
in another entity or an additional interest in a Related Entity whether by merger, share purchase, asset purchase or other form
of transaction.


 


(e)    Deferral
of Award Payment. The Administrator may establish one or more programs under the Plan to permit selected Grantees the opportunity
to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that
absent the election would entitle the Grantee to payment or receipt of Shares or other consideration under an Award. The Administrator
may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or
other earnings, if any, on amounts, Shares or other consideration so deferred, and such other terms, conditions, rules and procedures
that the Administrator deems advisable for the administration of any such deferral program.


 


(f)    Separate
Programs. The Administrator may establish one or more separate programs under the Plan for the purpose of issuing particular
forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to
time. 


 


(g)   Deferral.
If the vesting or receipt of Shares under an Award is deferred to a later date, any amount (whether denominated in Shares or cash)
paid in addition to the original number of Shares subject to such Award will not be treated as an increase in the number of Shares
subject to the Award if the additional amount is based either on a reasonable rate of interest or on one or more predetermined
actual investments such that the amount payable by the Company at the later date will be based on the actual rate of return of
a specific investment (including any decrease as well as any increase in the value of an investment).


 


(h)   Early Exercise.
The Award Agreement may, but need not, include a provision whereby the Grantee may elect at any time while an Employee, Director
or Consultant to exercise any part or all of the Award prior to full vesting of the Award. Any unvested Shares received pursuant
to such exercise may be subject to a repurchase right in favor of the Company or a Related Entity or to any other restriction the
Administrator determines to be appropriate.


 


(i)     Term
of Award. The term of each Award shall be no more than ten (10) years from the date of grant thereof. However, in the
case of an Incentive Share Option granted to a Grantee who, at the time the Option is granted, owns shares representing more than
ten percent (10%) of the voting power of all classes of shares of the Company or any Parent or Subsidiary of the Company,
the term of the Incentive Share Option shall be five (5) years from the date of grant thereof or such shorter term as may
be provided in the Award Agreement. Notwithstanding the foregoing, the specified term of any Award shall not include any period
for which the Grantee has elected to defer the receipt of the Shares or cash issuable pursuant to the Award.


 






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(j)     Transferability
of Awards. Incentive Share Options may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner
other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Grantee, only by
the Grantee. Other Awards shall be transferable (i) by will and by the laws of descent and distribution and (ii) during
the lifetime of the Grantee, to the extent and in the manner authorized by the Administrator but only to the extent such transfers
are made to family members, to family trusts, to family controlled entities, to charitable organizations, and pursuant to domestic
relations orders or agreements, in all cases without payment for such transfers to the Grantee. Notwithstanding the foregoing,
the Grantee may designate one or more beneficiaries of the Grantee’s Award in the event of the Grantee’s death on a
beneficiary designation form provided by the Administrator.


 


(k)   Time of Granting
Awards. The date of grant of an Award shall for all purposes be the date on which the Administrator makes the determination
to grant such Award, or such other later date as is determined by the Administrator.


 


7.                 
Award Exercise or Purchase Price, Consideration and Taxes.


 


(a)    Exercise
or Purchase Price. The exercise or purchase price, if any, for an Award shall be as follows:


 


(i)                
In the case of an Incentive Share Option:


 


(A) granted to an Employee who,
at the time of the grant of such Incentive Share Option owns shares representing more than ten percent (10%) of the voting power
of all classes of shares of the Company or any Parent or Subsidiary of the Company, the per Share exercise price shall be not less
than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant; or


 


(B)  granted to any Employee
other than an Employee described in the preceding paragraph, the per Share exercise price shall be not less than one hundred percent
(100%) of the Fair Market Value per Share on the date of grant.


 


(ii)              
In the case of a Non-Qualified Share Option, the per Share exercise price shall be not less than one hundred percent (100%)
of the Fair Market Value per Share on the date of grant.


 






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(iii)            
In the case of SARs, the base appreciation amount shall not be less than one hundred percent (100%) of the Fair Market Value
per Share on the date of grant.


 


(iv)            
In the case of other Awards, such price as is determined by the Administrator.


 


(v)              
Notwithstanding the foregoing provisions of this Section 7(a), in the case of an Award issued pursuant to Section 6(d),
above, the exercise or purchase price for the Award shall be determined in accordance with the provisions of the relevant instrument
evidencing the agreement to issue such Award.


 


(b)   Consideration.
Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchase of an Award including
the method of payment, shall be determined by the Administrator. In addition to any other types of consideration the Administrator
may determine, the Administrator is authorized to accept as consideration for Shares issued under the Plan the following:


 


(i)                
cash;


 


(ii)              
check;


 


(iii)            
surrender of Shares or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may
require which have a Fair Market Value on the date of surrender or attestation equal to the aggregate exercise price of the Shares
as to which said Award shall be exercised;


 


(iv)            
with respect to Options, payment through a broker-dealer sale and remittance procedure pursuant to which the Grantee (A)
shall provide written instructions to a Company designated brokerage firm to effect the immediate sale of some or all of the purchased
Shares and remit to the Company sufficient funds to cover the aggregate exercise price payable for the purchased Shares and (B)
shall provide written directives to the Company to deliver the certificates for the purchased Shares directly to such brokerage
firm in order to complete the sale transaction;


 


(v)              
with respect to Options, payment through a “net exercise” such that, without the payment of any funds, the Grantee
may exercise the Option and receive the net number of Shares equal to (i) the number of Shares as to which the Option is being
exercised, multiplied by (ii) a fraction, the numerator of which is the Fair Market Value per Share (on such date as is determined
by the Administrator) less the exercise price per Share, and the denominator of which is such Fair Market Value per Share (the
number of net Shares to be received shall be rounded down to the nearest whole number of Shares); or


 


(vi)            
any combination of the foregoing methods of payment.


 


The Administrator may at any time or from time to time, by adoption
of or by amendment to the standard forms of Award Agreement described in Section 4(b)(iv), or by other means, grant Awards
which do not permit all of the foregoing forms of consideration to be used in payment for the Shares or which otherwise restrict
one or more forms of consideration.


 






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(c)               
Taxes. No Shares shall be delivered under the Plan to any Grantee or other person until such Grantee or other person
has made arrangements acceptable to the Administrator for the satisfaction of any non-U.S., federal, state, or local income and
employment tax withholding obligations, including, without limitation, obligations incident to the receipt of Shares. Upon exercise
or vesting of an Award the Company shall withhold or collect from the Grantee an amount sufficient to satisfy such tax obligations,
including, but not limited to, by surrender of the whole number of Shares covered by the Award, if applicable, sufficient to satisfy
the minimum applicable tax withholding obligations incident to the exercise or vesting of an Award (reduced to the lowest whole
number of Shares if such number of Shares withheld would result in withholding a fractional Share with any remaining tax withholding
settled in cash).


 


8.                 
Exercise of Award.


 


(a)    Procedure
for Exercise; Rights as a Shareholder.


 


(i)                
Any Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator
under the terms of the Plan and specified in the Award Agreement.


 


(ii)              
An Award shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance
with the terms of the Award by the person entitled to exercise the Award and full payment for the Shares with respect to which
the Award is exercised has been made, including, to the extent selected, use of the broker-dealer sale and remittance procedure
to pay the purchase price as provided in Section 7(b)(iv).


 


(b)   Exercise of
Award Following Termination of Continuous Service.


 


(i)                
An Award may not be exercised after the termination date of such Award set forth in the Award Agreement and may be exercised
following the termination of a Grantee’s Continuous Service only to the extent provided in the Award Agreement.


 


(ii)              
Where the Award Agreement permits a Grantee to exercise an Award following the termination of the Grantee’s Continuous
Service for a specified period, the Award shall terminate to the extent not exercised on the last day of the specified period or
the last day of the original term of the Award, whichever occurs first.


 


(iii)            
Any Award designated as an Incentive Share Option to the extent not exercised within the time permitted by law for the exercise
of Incentive Share Options following the termination of a Grantee’s Continuous Service shall convert automatically to a Non-Qualified
Share Option and thereafter shall be exercisable as such to the extent exercisable by its terms for the period specified in the
Award Agreement.


 


9.                 
Conditions Upon Issuance of Shares.


 


(a)    If at any
time the Administrator determines that the delivery of Shares pursuant to the exercise, vesting or any other provision of an Award
is or may be unlawful under Applicable Laws, the vesting or right to exercise an Award or to otherwise receive Shares pursuant
to the terms of an Award shall be suspended until the Administrator determines that such delivery is lawful and shall be further
subject to the approval of counsel for the Company with respect to such compliance. The Company shall have no obligation to affect
any registration or qualification of the Shares under federal or state laws.


 






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(b)   As a condition
to the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the time of any
such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such
Shares if, in the opinion of counsel for the Company, such a representation is required by any Applicable Laws.


 


10.             
Adjustments Upon Changes in Capitalization. Subject to any required action by the shareholders of the Company and
Section 11 hereof, the number of Shares covered by each outstanding Award, and the number of Ordinary Shares which have been authorized
for issuance under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan, the exercise
or purchase price of each such outstanding Award, as well as any other terms that the Administrator determines require adjustment
shall be proportionately adjusted for (i) any increase or decrease in the number of issued Ordinary Shares resulting from
a share split, reverse share split, share dividend, recapitalization, combination or reclassification of the Ordinary Shares, or
similar transaction affecting the Shares, (ii) any other increase or decrease in the number of issued Ordinary Shares effected
without receipt of consideration by the Company, or (iii)  any other transaction with respect to Ordinary Shares including
a corporate merger, consolidation, acquisition of property or shares, separation (including a spin-off or other distribution of
shares or property), reorganization, liquidation (whether partial or complete) or any similar transaction; provided, however that
conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.”
In the event of any distribution of cash or other assets to shareholders other than a normal cash dividend, the Administrator shall
also make such adjustments as provided in this Section 10 or substitute, exchange or grant Awards to effect such adjustments (collectively
“adjustments”). Any such adjustments to outstanding Awards will be effected in a manner that precludes the enlargement
of rights and benefits under such Awards. In connection with the foregoing adjustments, the Administrator may, in its discretion,
prohibit the exercise of Awards or other issuance of Shares, cash or other consideration pursuant to Awards during certain periods
of time. Except as the Administrator determines, no issuance by the Company of shares of any class, or securities convertible into
shares of any class, shall affect, and no adjustment by reason hereof shall be made with respect to, the number or price of Shares
subject to an Award.


 


11.             
Corporate Transactions.


 


(a)               
Termination of Award to Extent Not Assumed in Corporate Transaction. Effective upon the consummation of a Corporate
Transaction, all outstanding Awards under the Plan shall terminate. However, all such Awards shall not terminate to the extent
they are Assumed in connection with the Corporate Transaction.


 






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(b)              
Acceleration of Award Upon Corporate Transaction. The Administrator shall have the authority, exercisable either
in advance of any actual or anticipated Corporate Transaction or at the time of an actual Corporate Transaction and exercisable
at the time of the grant of an Award under the Plan or any time while an Award remains outstanding, to provide for the full or
partial automatic vesting and exercisability of one or more outstanding unvested Awards under the Plan and the release from restrictions
on transfer and repurchase or forfeiture rights of such Awards in connection with a Corporate Transaction, on such terms and conditions
as the Administrator may specify. The Administrator also shall have the authority to condition any such Award vesting and exercisability
or release from such limitations upon the subsequent termination of the Continuous Service of the Grantee within a specified period
following the effective date of the Corporate Transaction.


 


(c)               
Effect of Acceleration on Incentive Share Options. Any Incentive Share Option accelerated under this Section 11
in connection with a Corporate Transaction shall remain exercisable as an Incentive Share Option under the Code only to the extent
the $100,000 dollar limitation of Section 422(d) of the Code is not exceeded.


 


12.             
Effective Date and Term of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the
Board or its approval by the shareholders of the Company. It shall continue in effect for a term of ten (10) years unless sooner
terminated. Subject to Section 17, below, and Applicable Laws, Awards may be granted under the Plan upon its becoming effective.


 


13.             
Amendment, Suspension or Termination of the Plan.


 


(a)    The Board
may at any time amend, suspend or terminate the Plan; provided, however, that no such amendment shall be made without the approval
of the Company’s shareholders to the extent such approval is required by Applicable Laws, or if such amendment would lessen
the shareholder approval requirements of Section 4(b)(vi) or this Section 13(a).


 


(b)   No Award may be
granted during any suspension of the Plan or after termination of the Plan.


 


(c)    No suspension
or termination of the Plan (including termination of the Plan under Section 11, above) shall adversely affect any rights under
Awards already granted to a Grantee.


 


14.             
Reservation of Ordinary Shares.


 


(a)    The Company,
during the term of the Plan, will at all times reserve and keep available such number of Ordinary Shares as shall be sufficient
to satisfy the requirements of the Plan.


 


(b)   The inability
of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s
counsel to be necessary to the lawful issuance and sale of any Ordinary Shares hereunder, shall relieve the Company of any liability
in respect of the failure to issue or sell such Ordinary Shares as to which such requisite authority shall not have been obtained.


 






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15.             
No Effect on Terms of Employment/Consulting Relationship. The Plan shall not confer upon any Grantee any right with
respect to the Grantee’s Continuous Service, nor shall it interfere in any way with his or her right or the right of the
Company or any Related Entity to terminate the Grantee’s Continuous Service at any time, with or without Cause, and with
or without notice. The ability of the Company or any Related Entity to terminate the employment of a Grantee who is employed at
will is in no way affected by its determination that the Grantee’s Continuous Service has been terminated for Cause for the
purposes of this Plan.


 


16.             
No Effect on Retirement and Other Benefit Plans. Except as specifically provided in a retirement or other benefit
plan of the Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions
under any retirement plan of the Company or a Related Entity, and shall not affect any benefits under any other benefit plan of
any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of
compensation. The Plan is not a “Pension Plan” or “Welfare Plan” under the Employee Retirement Income Security
Act of 1974, as amended.


 


17.             
Shareholder Approval. The grant of Incentive Share Options under the Plan shall be subject to approval by the shareholders
of the Company within twelve (12) months before or after the date the Plan is adopted excluding Incentive Share Options issued
in substitution for outstanding Incentive Share Options pursuant to Section 424(a) of the Code. Such shareholder approval
shall be obtained in the degree and manner required under Applicable Laws. The Administrator may grant Incentive Share Options
under the Plan prior to approval by the shareholders, but until such approval is obtained, no such Incentive Share Option shall
be exercisable. In the event that shareholder approval is not obtained within the twelve (12) month period provided above, all
Incentive Share Options previously granted under the Plan shall be exercisable as Non-Qualified Share Options.


 


18.             
Unfunded Obligation. Grantees shall have the status of general unsecured creditors of the Company. Any amounts payable
to Grantees pursuant to the Plan shall be unfunded and unsecured obligations for all purposes, including, without limitation, Title I
of the Employee Retirement Income Security Act of 1974, as amended. Neither the Company nor any Related Entity shall be required
to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such
obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which
the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust
or any Grantee account shall not create or constitute a trust or fiduciary relationship between the Administrator, the Company
or any Related Entity and a Grantee, or otherwise create any vested or beneficial interest in any Grantee or the Grantee’s
creditors in any assets of the Company or a Related Entity. The Grantees shall have no claim against the Company or any Related
Entity for any changes in the value of any assets that may be invested or reinvested by the Company with respect to the Plan.


 


19.             
Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation
of any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural
shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires
otherwise.


 






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20.             
Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board, the submission of the Plan to the shareholders
of the Company for approval, nor any provision of the Plan will be construed as creating any limitations on the power of the Board
to adopt such additional compensation arrangements as it may deem desirable, including, without limitation, the granting of Awards
otherwise than under the Plan, and such arrangements may be either generally applicable or applicable only in specific cases.


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


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