EXHIBIT
10.7(b)


 


Ener-Core,
Inc.


 


EQUITY
INCENTIVE AWARD PLAN


 


(As
amended on March 25, 2015)


 


1.          Purposes
of the Plan. The purposes of this Plan are to attract and retain the best available personnel for positions of substantial
responsibility, to provide additional incentive to Employees, Directors, and Consultants and to promote the success of the Company’s
business. Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options, as determined by the Administrator
at the time of grant. Stock Purchase Rights may also be granted under the Plan.


 


2.          Definitions.
As used in this Plan, the following definitions shall apply:


 


(a)          “Administrator”
means the Board or any of its Committees as shall be administering the Plan in accordance with Section 4.


 


(b)          “Applicable
Laws” means the requirements relating to the administration of stock option plans under U.S. state corporate laws, U.S.
federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted
and the applicable laws of any other country or jurisdiction where Options or Stock Purchase Rights are granted under the Plan.
References to any law in this Plan include the regulations promulgated thereunder.


 


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


 


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


 


(e)          “Committee”
means a committee of Directors appointed by the Board in accordance with Section 4.


 


(f)           “Common
Stock” means any class of Company stock as may be provided in the Articles of Incorporation, including future amendments.


 


(g)          “Company”
means Ener-Core, Inc., a Nevada corporation.


 


(h)          “Consultant”
means any person who is engaged by the Company or any Parent or Subsidiary to render consulting or advisory services to such entity.


 


(i)           “Director”
means a member of the Board of Directors of the Company.


 


(j)           “Disability”
means total and permanent disability as defined in Section 22(e)(3) of the Code.


 


(k)          “Employee”
means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company, and, except
with respect to the issuance of Incentive Stock Options, any employee of an entity that has entered into an agreement with the
Company for the purpose of employing or co-employing all or part of the workforce of the Company or any Parent or Subsidiary of
the Company at the work site of the Company or any Parent or Subsidiary of the Company for the purpose of providing services to
the Company or any Parent or Subsidiary of the Company at the direction of the Company. A Service Provider shall not cease to
be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company
or between the Company, its Parent, any Subsidiary, or any successor. For purposes of Incentive Stock Options, no such leave may
exceed 90 days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration
of a leave of absence approved by the Company is not so guaranteed, on the 181st day of such leave any Incentive Stock Option
held by the Optionee shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonstatutory
Stock Option. Neither service as a Director nor payment of a director’s fee by the Company shall be sufficient to constitute
“employment” by the Company.


 






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


 


(m)         “Fair
Market Value” means, as of the applicable date, the value of Common Stock determined as follows:


 


(i)          If
the Common Stock is listed on any established stock exchange, its Fair Market Value shall be the closing sales price for such
stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the last market trading day prior
to the time of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable;


 


(ii)         If
the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value
shall be the mean between the high bid and low asked prices for the Common Stock on the last market trading day prior to the day
of determination; or


 


(iii)        In
the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined in good faith by
the Administrator, taking into account and in a manner consistent with the definition of fair market value under the regulations
promulgated under Section 409A of the Code.


 


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


 


(o)          “Nonstatutory
Stock Option” means an Option not intended to qualify as an Incentive Stock Option.


 


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


 


(q)          “Option”
means a stock option granted pursuant to the Plan.


 


(r)          “Option
Agreement” means a written or electronic agreement between the Company and an Optionee evidencing the terms and conditions
of an individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan.


 


(s)          “Option
Exchange Program” means a program whereby outstanding Options are exchanged for Options with a lower exercise price.


 


(t)          “Optioned
Stock” means the Common Stock subject to an Option or a Stock Purchase Right.


 


(u)          “Optionee”
means the holder of an outstanding Option or Stock Purchase Right granted under the Plan.


 






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


 


(w)          “Plan”
means this Ener-Core, Inc. Equity Incentive Award Plan.


 


(x)           “Restricted
Stock” means shares of Common Stock acquired pursuant to a grant of a Stock Purchase Right under Section 11 below.


 


(y)          “Service
Provider” means an Employee, Director, or Consultant.


 


(z)           “Share”
means a share of the Common Stock, as adjusted in accordance with Section 12.


 


(aa)         “Stock
Purchase Right” means a right to purchase Common Stock pursuant to Section 11.


 


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


 


3.          Stock
Subject to the Plan. Subject to the provisions of Section 12, the maximum aggregate number of Shares that may be subject
to option and sold under the Plan is 21,000,000 Shares. The Shares may be authorized but unissued, or repurchased, Common Stock.


 


If
an Option or Stock Purchase Right expires or becomes unexercisable without having been exercised in full, or is surrendered pursuant
to an Option Exchange Program, the unpurchased Shares which were subject thereto shall become available for future grant or sale
under the Plan (unless the Plan has terminated). However, Shares that have actually been issued under the Plan, upon exercise
of either an Option or Stock Purchase Right, shall not be returned to the Plan and shall not become available for future distribution
under the Plan, except that if Shares of Restricted Stock are repurchased by the Company at their original purchase price, such
Shares shall become available for future grant under the Plan.


 


4.          Administration
of the Plan.


 


(a)          Administrator.
The Plan shall be administered by the Board or a Committee appointed by the Board, which Committee shall be constituted to comply
with Applicable Laws.


 


(b)         Powers
of the Administrator. Subject to the provisions of the Plan and, in the case of a Committee, the specific duties delegated
by the Board to such Committee, and subject to the approval of any relevant authorities, the Administrator shall have the authority
in its discretion:


 


(i)           to
determine the Fair Market Value;


 


(ii)          to
select the Service Providers to whom Options and Stock Purchase Rights may from time to time be granted hereunder;


 


(iii)         to
determine the number of Shares to be covered by each such award granted hereunder;


 


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


 






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(v)          to
determine the terms and conditions of any Option or Stock Purchase Right granted under the Plan. Such terms and conditions include
the exercise price, the time or times when Options or Stock Purchase Rights may be exercised (which may be based on performance
criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Option
or Stock Purchase Right or the Common Stock relating thereto, based in each case on such factors as the Administrator, in its
sole discretion, shall determine;


 


(vi)         to
determine whether and under what circumstances an Option may be settled in cash under subsection 9(e) instead of Common
Stock;


 


(vii)        [Reserved];


 


(viii)       to
initiate an Option Exchange Program;


 


(ix)         to
prescribe, amend and rescind rules and regulations relating to the Plan;


 


(x)          to
allow Optionees to satisfy withholding tax obligations by electing to have the Company withhold from the Shares to be issued upon
exercise of an Option or Stock Purchase Right that number of Shares having a Fair Market Value equal to the amount required to
be withheld. The Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be withheld
is to be determined. All elections by Optionees to have Shares withheld for this purpose shall be made in such form and under
such conditions as the Administrator may deem necessary or advisable; and


 


(xi)         to
construe and interpret the terms of the Plan and awards granted pursuant to the Plan.


 


(c)          Effect
of Administrator’s Decision. All decisions, determinations, and interpretations of the Administrator shall be final
and binding on all Optionees.


 


5.          Eligibility.


 


(a)          Nonstatutory
Stock Options and Stock Purchase Rights may be granted to Service Providers. Incentive Stock Options may be granted only to Employees.


 


(b)          Each
Option shall be designated in the Option Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However,
notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive
Stock Options are exercisable for the first time by the Optionee during any calendar year (under all plans of the Company and
any Parent or Subsidiary) exceeds $100,000, such Options shall be treated as Nonstatutory Stock Options. For purposes of this
Section 5(b), Incentive Stock Options shall be taken into account in the order in which they were granted. The Fair Market
Value of the Shares shall be determined as of the time the Option with respect to such Shares is granted.


 


(c)          Neither
the Plan nor any Option or Stock Purchase Right shall confer upon any Optionee any right with respect to continuing the Optionee’s
relationship as a Service Provider with the Company, nor shall it interfere in any way with his or her right or the Company’s
right to terminate such relationship at any time, with or without cause.


 


6.          Term
of Plan. The Plan shall become effective upon its adoption by the Board. It shall continue in effect for a term of 10 years
unless sooner terminated under Section 14.


 






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7.          Term
of Option. The term of each Option shall be stated in the Option Agreement; provided, however, that the term shall be no more
than 10 years from the date of grant thereof. In the case of an Incentive Stock Option granted to an Optionee who, at the time
the Option is granted, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any
Parent or Subsidiary, the term of the Option shall be five (5) years from the date of grant or such shorter term as may be provided
in the Option Agreement.


 


8.          Option
Exercise Price and Consideration.


 


(a)          The
per share exercise price for the Shares to be issued upon exercise of an Option shall be such price as is determined by the Administrator,
but shall be subject to the following:


 


(i)          In
the case of an Incentive Stock Option


 


(A)         granted
to an Employee who, at the time of grant of such Option, owns stock representing more than 10% of the voting power of all classes
of stock of the Company or any Parent or Subsidiary, the exercise price shall be no less than 110% of the Fair Market Value per
Share on the date of grant.


 


(B)         granted
to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date
of grant.


 


(ii)         In
the case of a Nonstatutory Stock Option granted to any Service Provider, the per Share exercise price shall be no less than 100%
of the Fair Market Value per Share on the date of grant.


 


(iii)        Notwithstanding
the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other
corporate transaction.


 


(b)          The
consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined
by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant). Such consideration
may consist of (1) cash, (2) check, (3) promissory note, (4) other Shares which (x) in the case of Shares acquired upon exercise
of an Option, have been owned by the Optionee for more than six months on the date of surrender, and (y) have a Fair Market Value
on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option shall be exercised, (5) consideration
received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, or (6) any combination
of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator
shall consider if acceptance of such consideration may be reasonably expected to benefit the Company.


 


9.          Exercise
of Option.


 


(a)          Procedure
for Exercise; Rights as a Stockholder. Any Option granted under the Plan shall be exercisable according to the terms of the
Plan at such times and under such conditions as determined by the Administrator and set forth in the Option Agreement. Unless
the Administrator provides otherwise, vesting of Options granted hereunder to Officers and Directors shall be tolled during any
unpaid leave of absence. An Option may not be exercised for a fraction of a Share.


 






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(i)          An
Option shall be deemed exercised when the Company receives: (A) written or electronic notice of exercise (in accordance with the
Option Agreement) from the person entitled to exercise the Option, and (B) full payment for the Shares with respect to which the
Option is exercised. Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted
by the Option Agreement and the Plan. Shares issued upon exercise of an Option shall be issued in the name of the Optionee or,
if requested by the Optionee, in the name of the Optionee and his or her spouse. Until the Shares are issued (as evidenced by
the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or
receive dividends or any other rights as a stockholder shall exist with respect to the Shares, notwithstanding the exercise of
the Option. The Company shall issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment
will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided
in Section 12.


 


(ii)         Exercise
of an Option in any manner shall result in a decrease in the number of Shares thereafter available, both for purposes of the Plan
and for sale under the Option, by the number of Shares as to which the Option is exercised.


 


(b)          Termination
of Relationship as a Service Provider. If an Optionee ceases to be a Service Provider, such Optionee may exercise his or her
Option within such period of time as is specified in the Option Agreement (of at least 30 days) to the extent that the Option
is vested on the date of termination (but in no event later than the expiration of the term of the Option as set forth in the
Option Agreement). Absent a specified time in the Option Agreement, the Option shall remain exercisable for three months following
the Optionee’s termination as a Service Provider. If, on the date of termination, the Optionee is not vested as to his or
her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the
Optionee does not exercise his or her Option within the time specified by the Administrator, the Option shall terminate, and the
Shares covered by such Option shall revert to the Plan.


 


(c)          Disability
of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, the Optionee may
exercise his or her Option within such period of time as is specified in the Option Agreement (of at least six months) to the
extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as
set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable
for 12 months following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his
or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination,
the Optionee does not exercise his or her Option within the time specified, the Option shall terminate, and the Shares covered
by such Option shall revert to the Plan.


 


(d)          Death
of Optionee. If an Optionee dies while a Service Provider, the Option may be exercised within such period of time as is specified
in the Option Agreement (of at least six months) to the extent that the Option is vested on the date of death (but in no event
later than the expiration of the term of such Option as set forth in the Option Agreement) by the Optionee’s estate or by
a person who acquires the right to exercise the Option by bequest or inheritance. In the absence of a specified time in the Option
Agreement, the Option shall remain exercisable for 12 months following the Optionee’s termination. If, at the time of death,
the Optionee is not vested as to the entire Option, the Shares covered by the unvested portion of the Option shall immediately
revert to the Plan. If the Option is not so exercised within the time specified, the Option shall terminate, and the Shares covered
by such Option shall revert to the Plan.


 






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(e)          Buyout
Provisions. The Administrator may at any time offer to buy out for a payment in cash or Shares, an Option previously granted,
based on such terms and conditions as the Administrator shall establish and communicate to the Optionee at the time that such
offer is made.


 


10.         Non-Transferability
of Options and Stock Purchase Rights. The Options and Stock Purchase Rights 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 Optionee, only by the Optionee.


 


11.         Stock
Purchase Rights.


 


(a)          Rights
to Purchase. Stock Purchase Rights may be issued either alone, in addition to, or in tandem with other awards granted under
the Plan and/or cash awards made outside of the Plan. After the Administrator determines that it will offer Stock Purchase Rights
under the Plan, it shall advise the offeree in writing or electronically of the terms, conditions and restrictions related to
the offer, including the number of Shares that such person shall be entitled to purchase, the price to be paid, and the time within
which such person must accept such offer. The terms of the offer shall comply in all respects with Applicable Laws. The offer
shall be accepted by execution of a Restricted Stock purchase agreement in the form determined by the Administrator.


 


(b)          Repurchase
Option. Unless the Administrator determines otherwise, the Restricted Stock purchase agreement shall grant the Company a repurchase
option exercisable upon the voluntary or involuntary termination of the purchaser’s service with the Company for any reason
(including death or disability). The purchase price for Shares repurchased pursuant to the Restricted Stock purchase agreement
shall be the original price paid by the purchaser and may be paid by cancellation of any indebtedness of the purchaser to the
Company. The repurchase option shall lapse at such rate as the Administrator may determine.


 


(c)          Other
Provisions. The Restricted Stock purchase agreement shall contain such other terms, provisions, and conditions not inconsistent
with the Plan as may be determined by the Administrator in its sole discretion.


 


(d)          Rights
as a Stockholder. Once the Stock Purchase Right is exercised, the purchaser shall have rights equivalent to those of a stockholder
and shall be a stockholder when his or her purchase is entered upon the records of the duly authorized transfer agent of the Company.
No adjustment shall be made for a dividend or other right for which the record date is prior to the date the Stock Purchase Right
is exercised, except as provided in Section 12.


 






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12.         Adjustments
Upon Changes in Capitalization, Merger, or Asset Sale.


 


(a)          Changes
in Capitalization. Subject to any required action by the stockholders of the Company, the number of shares of Common Stock
covered by each outstanding Option or Stock Purchase Right, and the number of shares of Common Stock which have been authorized
for issuance under the Plan but as to which no Options or Stock Purchase Rights have yet been granted or which have been returned
to the Plan upon cancellation or expiration of an Option or Stock Purchase Right, as well as the price per share of Common Stock
covered by each such outstanding Option or Stock Purchase Right, shall be proportionately adjusted for any increase or decrease
in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination
or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares of Common Stock effected
without receipt of consideration by the Company. The conversion of any convertible securities of the Company shall not be deemed
to have been “effected without receipt of consideration.” Such adjustment shall be made by the Board, whose determination
in that respect shall be final, binding, and conclusive. Except as expressly provided in this Plan, no issuance by the Company
of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment
by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an Option or Stock Purchase
Right.


 


(b)          Dissolution
or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator shall notify each
Optionee as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion
may provide for an Optionee to have the right to exercise his or her Option or Stock Purchase Right until 15 days prior to such
transaction as to all of the Optioned Stock covered thereby, including Shares as to which the Option or Stock Purchase Right would
not otherwise be exercisable. In addition, the Administrator may provide that any Company repurchase option applicable to any
Shares purchased upon exercise of an Option or Stock Purchase Right shall lapse as to all such Shares, provided the proposed dissolution
or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously exercised, an
Option or Stock Purchase Right will terminate immediately prior to the consummation of such proposed action.


 


(c)          Merger
or Asset Sale. In the event of a merger of the Company with or into another corporation, or the sale of substantially all
of the assets of the Company, each outstanding Option and Stock Purchase Right shall be assumed or an equivalent option or right
substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor
corporation refuses to assume or substitute for the Option or Stock Purchase Right, the Optionee shall fully vest in and have
the right to exercise the Option or Stock Purchase Right as to all of the Optioned Stock, including Shares as to which it would
not otherwise be vested or exercisable. If an Option or Stock Purchase Right becomes fully vested and exercisable in lieu of assumption
or substitution in the event of a merger or sale of assets, the Administrator shall notify the Optionee in writing or electronically
that the Option or Stock Purchase Right shall be fully exercisable for a period of 15 days from the date of such notice, and the
Option or Stock Purchase Right shall terminate upon the expiration of such period. For the purposes of this paragraph, the Option
or Stock Purchase Right shall be considered assumed if, following the merger or sale of assets, the option or right confers the
right to purchase or receive, for each Share of Optioned Stock subject to the Option or Stock Purchase Right immediately prior
to the merger or sale of assets, the consideration (whether stock, cash, or other securities or property) received in the merger
or sale of assets by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were
offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided,
however, that if such consideration received in the merger or sale of assets is not solely stock of the successor corporation
or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received
upon the exercise of the Option or Stock Purchase Right, for each Share of Optioned Stock subject to the Option or Stock Purchase
Right, to be solely stock of the successor corporation or its Parent equal in fair market value to the per share consideration
received by holders of Common Stock in the merger or sale of assets.


 


13.         Time
of Granting Options and Stock Purchase Rights. The date of grant of an Option or Stock Purchase Right shall, for all purposes,
be the date on which the Administrator makes the determination granting such Option or Stock Purchase Right, or such other date
as is determined by the Administrator. Notice of the determination shall be given to each Service Provider to whom an Option or
Stock Purchase Right is so granted within a reasonable time after the date of such grant.


 






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14.         Amendment
and Termination of the Plan.


 


(a)          Amendment
and Termination. The Board may at any time amend, alter, suspend or terminate the Plan.


 


(b)          Stockholder
Approval. The Board shall obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply
with Applicable Laws.


 


(c)          Effect
of Amendment or Termination. No amendment, alteration, suspension, or termination of the Plan shall impair the rights of any
Optionee, unless mutually agreed otherwise between the Optionee and the Administrator, which agreement must be in writing and
signed by the Optionee and the Company. Termination of the Plan shall not affect the Administrator’s ability to exercise
the powers granted to it hereunder with respect to Options granted under the Plan prior to the date of such termination.


 


15.         Conditions
Upon Issuance of Shares.


 


(a)          Legal
Compliance. Shares shall not be issued pursuant to the exercise of an Option unless the exercise of such Option and the issuance
and delivery of such Shares comply with Applicable Laws and shall be further subject to the approval of counsel for the Company
with respect to such compliance.


 


(b)          Investment
Representations. As a condition to the exercise of an Option, the Administrator may require the person exercising such Option
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.


 


16.         Inability
to Obtain Authority. 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 Shares hereunder, shall
relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority
shall not have been obtained.


 


17.         Reservation
of Shares. The Company, during the term of this Plan, shall at all times reserve and keep available such number of Shares
as shall be sufficient to satisfy the requirements of the Plan.


 


18.         Information
to Optionees and Purchasers. The Company shall provide to each Optionee and to each individual who acquires Shares pursuant
to the Plan, not less frequently than annually during the period such Optionee or purchaser has one or more Options or Stock Purchase
Rights outstanding, and, in the case of an individual who acquires Shares pursuant to the Plan, during the period such individual
owns such Shares, copies of annual financial statements. The Company shall not be required to provide such statements to key employees
whose duties in connection with the Company assure their access to equivalent information.


 


*
* * * *


 






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The
Plan was duly adopted by the Board of Directors of the Company on July 1, 2013, and duly amended by the Board of Directors of
the Company on August 23, 2013 and on March 25, 2015.


 


	 	 	 
	 	Domonic J. Carney,
    Secretary of the Company	 


  


The
Plan was duly approved by the holders of a majority of the Common Stock of the Company on _________ __, 201__.


 


	 	 	 
	 	Domonic J. Carney,
    Secretary of the Company	 


 


 


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