Exhibit 10.8



BITFUFU
INC.



2022 SHARE INCENTIVE PLAN



(as assumed by BitFuFu Inc. based on the 2022
share incentive plan of Finfront Holding Company upon the consummation of business combination on February 29, 2024)



ARTICLE 1



PURPOSE



The purpose of the 2022 Share
Incentive Plan (the “Plan”) of BitFuFu Inc. is to promote the success and enhance the value of BitFuFu Inc., a company incorporated
under the laws of the Cayman Islands (the “Company”), by linking the personal interests of the Directors, Employees, Consultants
and other individuals as the Committee may authorize and approve, to those of the Company’s shareholders and, by providing such
individuals with an incentive for outstanding performance, to generate superior returns to the Company’s shareholders. The Plan
is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of recipients of
share incentives hereunder upon whose judgment, interest, and special effort the successful conduct of the Company’s operation is
largely dependent.



ARTICLE 2



DEFINITIONS AND CONSTRUCTION



Wherever the following terms
are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise. The singular pronoun
shall include the plural where the context so indicates.



2.1 “Applicable Laws”
means the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate, securities, tax and other
laws, rules, regulations and government orders, and the rules of any applicable stock exchange or national market system, of any jurisdiction
applicable to Awards granted to residents therein.



2.2 “Award”
means an Option, Restricted Share, Restricted Share Unit or other types of award approved by the Committee granted to a Participant pursuant
to the Plan.



2.3 “Award Agreement”
means any written agreement, contract, or other instrument or document evidencing an Award, including through electronic medium.



2.4 “Board”
means the Board of Directors of the Company.



2.5 “Cause”
means (unless otherwise expressly provided in the applicable Award Agreement, or another applicable contract with the Participant that
defines such term for purposes of determining the effect that a “for cause” termination has on the Participant’s Awards),
based upon a finding by the Service Recipient, acting in good faith and based on its reasonable belief at the time:



(a) with respect to any Participant,
such Participant’s: (i) dishonesty or serious misconduct, whether or not in connection with his/her employment or service; willful
disobedience or non-compliance with the terms of his/her employment, agency or consultancy contract with the Service Recipient or any
lawful orders or instructions given by the Service Recipient or any policy of the Service Recipient; (ii) incompetence or negligence in
the performance of his/her duties; (iii) in the conclusive opinion of the Committee, demonstrating a consistent behavior pattern that
adversely affects his/her ability to perform his/her duties properly or assets, business, reputation or branding of the Company or any
Subsidiary of the Company or brings the Company or any Subsidiary of the Company into dispute; (iv) breach of confidentiality, an unauthorized
disclosure or use of inside information, customer lists, trade secrets or other confidential information, breach of non-solicitation and
/or non-competition obligations, or unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation,
business or assets of, the Service Recipient; or (v) breach of any laws or regulations, whether or not in connection with his/her employment
or service;













(b) where the Participant is
an Employee, also means that the Participant has been guilty of misconduct, or has been convicted of any criminal offence involving his
integrity or honesty or (if so determined by the Committee) on any other ground on which an employer would be entitled to summarily terminate
his employment at common law or pursuant to any applicable laws or under the Participant’s employment agreement with the Service
Recipient;



(c) where the Participant is
a Director or Consultant, also means breach of contract with the Company or any of its Subsidiaries on the part of such Director or Consultant,
or the Participant appears either to be unable to pay or have no reasonable prospect to be able to pay debts, or has become insolvent,
or has made any arrangement (including a voluntary arrangement) or composition with his/her creditors generally, or ceases or threatens
to cease to carry on his/her business, or is bankrupted, or has been convicted of any criminal offence involving integrity or honesty.



2.6 “Code”
means the Internal Revenue Code of 1986 of the United States, as amended.



2.7 “Committee”
means a committee of the Board described in Article 10.



2.8 “Consultant”
means any consultant or adviser if: (a) the consultant or adviser renders bona fide services to a Service Recipient; (b) the services
rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and
do not directly or indirectly promote or maintain a market for the Company’s securities; and (c) the consultant or adviser is a
natural person who has contracted directly with the Service Recipient to render such services.



2.9 “Corporate Transaction”,
unless otherwise defined in an Award Agreement, means any of the following transactions, provided, however, that the Committee shall determine
under (d) and (e) whether multiple transactions are related, and its determination shall be final, binding and conclusive:



(a) an amalgamation, arrangement
or consolidation or scheme of arrangement (i) 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 or (ii) following which the holders of the voting
securities of the Company do not continue to hold more than 50% of the combined voting power of the voting securities of the surviving
entity;



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





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



(d) any reverse takeover or
series of related transactions culminating in a reverse takeover (including, but not limited to, a tender offer followed by a reverse
takeover) in which the Company is the surviving entity but (A) the Company’s equity securities outstanding immediately prior to
such takeover are converted or exchanged by virtue of the takeover into other property, whether in the form of securities, cash or otherwise,
or (B) in which securities possessing more than fifty percent (50%) 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 takeover or
the initial transaction culminating in such takeover, but excluding any such transaction or series of related transactions that the Committee
determines shall not be a Corporate Transaction; or



(e) 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 Committee determines shall not be a Corporate Transaction.



2.10 “Director”
means a member of the Board or a member of the board of directors of any Subsidiary of the Company.



2.11 “Disability”,
unless otherwise defined in an Award Agreement, means that the Participant qualifies to receive long-term disability payments under the
Service Recipient’s long-term disability insurance program, as it may be amended from time to time, to which the Participant provides
services regardless of whether the Participant is covered by such policy. If the Service Recipient to which the Participant provides service
does not have a long-term disability plan in place, “Disability” means that a Participant is unable to carry out the responsibilities
and functions of the position held by the Participant by reason of any medically determinable physical or mental impairment for a period
of not less than ninety (90) consecutive days. A Participant will not be considered to have incurred a Disability unless he or she furnishes
proof of such impairment sufficient to satisfy the Committee in its discretion.



2.12 “Effective Date”
shall have the meaning set forth in Section 11.1.



2.13 “Employee”
means any person, including an officer or a Director, who is in the employment of a Service Recipient, subject to the control and direction
of the Service Recipient as to both the work to be performed and the manner and method of performance. The payment of a director’s
fee by a Service Recipient shall not be sufficient to constitute “employment” by the Service Recipient.



2.14 “Exchange Act”
means the Securities Exchange Act of 1934 of the United States, as amended.





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



(a) If the Shares are listed
on one or more established stock exchanges or national market systems, including without limitation, the New York Stock Exchange or the
Nasdaq Stock Market, 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 Committee) 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 on the website maintained by such exchange or market system or such other source as the Committee
deems reliable;



(b) 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 or such other source as the Committee deems reliable; or



(c) In the absence of an established
market for the Shares of the type described in (a) and (b), above, the Fair Market Value thereof shall be determined by the Committee
in good faith and in its discretion by reference to (i) the placing price of the latest private placement of the Shares and the development
of the Company’s business operations and the general economic and market conditions since such latest private placement, (ii) other
third party transactions involving the Shares and the development of the Company’s business operation and the general economic and
market conditions since such transaction, (iii) an independent valuation of the Shares, or (iv) such other methodologies or information
as the Committee determines to be indicative of Fair Market Value.



2.16 “Group Entity”
means any of the Company and Subsidiaries of the Company.



2.17 “Incentive Share
Option” means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.



2.18 “Independent
Director” means (i) if the Shares or other securities representing the Shares are not listed on a stock exchange, a Director
of the Company who is a Non-Employee Director; and (ii) if the Shares or other securities representing the Shares are listed on one or
more stock exchange, a Director of the Company who meets the independence standards under the applicable corporate governance rules of
the stock exchange(s).



2.19 “Non-Employee
Director” means a member of the Board who qualifies as a “Non-Employee Director” as defined in Rule 16b-3(b)(3)
of the Exchange Act, or any successor definition adopted by the Board.



2.20 “Non-Qualified
Share Option” means an Option that is not intended to be an Incentive Share Option.



2.21 “Option”
means a right granted to a Participant pursuant to Article 5 of the Plan to purchase a specified number of Shares at a specified price
during specified time periods. An Option may be either an Incentive Share Option or a Non-Qualified Share Option.





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2.22 “Participant”
means a person who, as a Director, Consultant or Employee, or other individuals as the Committee may authorize and approve, has been granted
an Award pursuant to the Plan.



2.23 “Parent”
means a parent corporation under Section 424(e) of the Code.



2.24 “Plan”
means this 2022 Share Incentive Plan of BitFuFu Inc., as it may be amended and/or restated from time to time.



2.25 “Related Entity”
means any business, corporation, partnership, limited liability company or other entity in which the Company, a Parent or Subsidiary of
the Company holds a substantial ownership interest, directly or indirectly, or controls through contractual arrangements and consolidates
the financial results according to applicable accounting standards, but which is not a Subsidiary and which the Board designates as a
Related Entity for purposes of the Plan.



2.26 “Restricted
Share” means a Share awarded to a Participant pursuant to Article 6 that is subject to certain restrictions and may be subject
to risk of forfeiture.



2.27 “Restricted
Share Unit” means the right granted to a Participant pursuant to Article 7 to receive a Share at a future date.



2.28 “Securities
Act” means the Securities Act of 1933 of the United States, as amended.



2.29 “Service Recipient”
means the Company or Subsidiary of the Company and any Group Entity to which a Participant provides services as an Employee, a Consultant,
or a Director.



2.30 “Share”
means the ordinary shares of the Company, par value US$0.0001 per share, and such other securities of the Company that may be substituted
for Shares pursuant to Article 9.



2.31 “Subsidiary”
means any corporation or other entity of which a majority of the outstanding voting shares or voting power is beneficially owned or controlled
directly or indirectly by the Company.



2.32 “Trading Date”
means the closing of the first sale to the general public of the Shares pursuant to a registration statement filed with and declared effective
by the U.S. Securities and Exchange Commission under the Securities Act.



ARTICLE 3



SHARES SUBJECT TO THE PLAN



3.1 Number of Shares.



(a) Subject to the provisions
of Article 9 and Section 3.1(b), the maximum aggregate number of Shares which may be issued pursuant to all Awards (including Incentive
Share Options) under the Plan (the “Award Pool”) shall be 7,500,000, representing 5% of all the issued and outstanding share
capital of the Company as of the date hereof on the fully-diluted basis.





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(b) To the extent that an Award
terminates, expires, or lapses for any reason, any Shares subject to the Award shall again be available for the grant of an Award pursuant
to the Plan. To the extent permitted by Applicable Laws, Shares issued in assumption of, or in substitution for, any outstanding awards
of any entity acquired in any form or combination by a Group Entity shall not be counted against Shares available for grant pursuant to
the Plan. Shares delivered by the Participant or withheld by the Company upon the exercise of any Award under the Plan, in payment of
the exercise price thereof or tax withholding thereon, may again be optioned, granted or awarded hereunder, subject to the limitations
of Section 3.1(a). If any Restricted Shares are forfeited by the Participant or repurchased by the Company, such Shares may again be optioned,
granted or awarded hereunder, subject to the limitations of Section 3.1(a). Notwithstanding the provisions of this Section 3.1(b), no
Shares may again be optioned, granted or awarded if such action would cause an Incentive Share Option to fail to qualify as an incentive
share option under Section 422 of the Code.



3.2 Shares Distributed.
Any Share distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares, treasury Shares (subject
to Applicable Laws) or Shares purchased on the open market. Additionally, at the discretion of the Committee, any Shares distributed pursuant
to an Award may be represented by American Depositary Shares. If the number of Shares represented by an American Depository Share is other
than on a one-to-one basis, the limitations of Section 3.1 shall be adjusted to reflect the distribution of American Depository Shares
in lieu of Shares.



ARTICLE 4



ELIGIBILITY AND PARTICIPATION



4.1 Eligibility. Persons
eligible to participate in this Plan include Employees, Consultants, and Directors, as determined by the Committee.



4.2 Participation.
Subject to the provisions of the Plan, the Committee may, from time to time, select from among all eligible individuals, those to whom
Awards shall be granted and shall determine the nature and amount of each Award. No individual shall have any right to be granted an Award
pursuant to this Plan.



4.3 Jurisdictions.
In order to assure the viability of Awards granted to Participants employed in various jurisdictions, the Committee may provide for such
special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom applicable in
the jurisdiction in which the Participant resides, is employed, operates or is incorporated. Moreover, the Committee may approve such
supplements to, or amendments, restatements, or alternative versions of, the Plan as it may consider necessary or appropriate for such
purposes without thereby affecting the terms of the Plan as in effect for any other purpose; provided, however, that no such supplements,
amendments, restatements, or alternative versions shall increase the share limitations contained in Section 3.1 of the Plan. Notwithstanding
the foregoing, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate any Applicable Laws.





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ARTICLE 5



OPTIONS



5.1 General. The Committee
is authorized to grant Options to Participants on the following terms and conditions:



(a) Exercise Price. The
exercise price per Share subject to an Option shall be determined by the Committee and set forth in the Award Agreement which may be a
fixed or variable price related to the Fair Market Value of the Shares. The exercise price per Share subject to an Option may be amended
or adjusted in the absolute discretion of the Committee, the determination of which shall be final, binding and conclusive. For the avoidance
of doubt, to the extent not prohibited by Applicable Laws or any exchange rule, a downward adjustment of the exercise prices of Options
mentioned in the preceding sentence shall be effective without the approval of the Company’s shareholders or the approval of the
affected Participants. No adjustment shall be made to the exercise price of Options if it will result in the exercise price falling below
the then par value of the Shares.



(b) Time and Conditions of
Exercise. The Committee shall determine the time or times at which an Option may be exercised in whole or in part, including exercise
prior to vesting; provided that the term of any Option granted under the Plan shall not exceed ten years, except as provided in
Section 12.1. The Committee shall also determine any conditions, if any, that must be satisfied before all or part of an Option may be
exercised.



(c) Payment. The Committee
shall determine the methods by which the exercise price of an Option may be paid, the form of payment, including, without limitation (i)
cash or check denominated in U.S. Dollars, (ii) to the extent permissible under the Applicable Laws, cash or check in local currencies,
(iii) cash or check denominated in any other currency as approved by the Committee, (iv) Shares held for such period of time as may be
required by the Committee in order to avoid adverse financial accounting consequences and having a Fair Market Value on the date of delivery
equal to the aggregate exercise price of the Option or exercised portion thereof, (v) after the Trading Date the delivery of a notice
that the Participant has placed a market sell order with a broker with respect to Shares then issuable upon exercise of the Option, and
that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option
exercise price; provided that payment of such proceeds is then made to the Company upon settlement of such sale, (vi) other property
acceptable to the Committee with a Fair Market Value equal to the exercise price, or (vii) any combination of the foregoing. Notwithstanding
any other provision of the Plan to the contrary, no Participant who is a member of the Board or an “executive officer” of
the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to pay the exercise price of an Option in any method
which would violate Section 13(k) of the Exchange Act.



(d) Evidence of Grant.
All Options shall be evidenced by an Award Agreement between the Company and the Participant. The Award Agreement shall include such additional
provisions as may be specified by the Committee.





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(e) Effects of Termination
of Employment or Service on Options. Termination of employment or service shall have the following effects on Options granted to the
Participants:



(i) Dismissal for Cause.
Unless otherwise provided in the Award Agreement or with prior written approval from the Committee, if a Participant’s employment
by or service to the Service Recipient is terminated by the Service Recipient for Cause, the Participant’s Options will terminate
upon such termination, whether or not the Option is then vested and/or exercisable;



(ii) Death or Disability.
Unless otherwise provided in the Award Agreement, if a Participant’s employment by or service to the Service Recipient terminates
as a result of the Participant’s death or Disability:



|(a) | the Participant (or his or her legal representative or beneficiary, in the case of the Participant’s Disability or death, respectively), will have until the date that is 12 months after the Participant’s termination of Employment or service to exercise the Participant’s Options (or portion thereof) to the extent that such Options were vested and exercisable on the date of the Participant’s termination of Employment or service on account of death or Disability;
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|(b) | the Options, to the extent not vested on the date of the Participant’s termination of Employment or service, shall terminate upon the Participant’s termination of Employment or service on account of death or Disability; and
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|(c) | the Options, to the extent exercisable for the 12-month period following the Participant’s termination of Employment or service and not exercised during such period, shall terminate at the close of business on the last business day of the 12-month period.
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(iii) Other Terminations
of Employment or Service. Unless otherwise provided in the Award Agreement, if a Participant’s employment by or service to the
Service Recipient terminates for any reason other than a termination by the Service Recipient for Cause or because of the Participant’s
death or Disability:



|(a) | the Participant will have until the date that is 90 days after the Participant’s termination of Employment or service to exercise his or her Options (or portion thereof) to the extent that such Options were vested and exercisable on the date of the Participant’s termination of Employment or service;
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|(b) | the Options, to the extent not vested on the date of the Participant’s termination of Employment or service, shall terminate upon the Participant’s termination of Employment or service; and
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|(c) | the Options, to the extent exercisable for the 90-day period following the Participant’s termination of Employment or service and not exercised during such period, shall terminate at the close of business on the last business day of the 90-day period.
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5.2 Incentive Share Options.
Incentive Share Options may be granted to Employees of the Company, or a Subsidiary of the Company. Incentive Share Options may not be
granted to employees of a Related Entity or to Independent Directors or Consultants. The terms of any Incentive Share Options granted
pursuant to the Plan, in addition to the requirements of Section 5.1, must comply with the following additional provisions of this Section
5.2:



(a) Individual Dollar Limitation.
The aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Share
Options are first exercisable by a Participant in any calendar year may not exceed $100,000 or such other limitation as imposed by Section
422(d) of the Code, or any successor provision. To the extent that Incentive Share Options are first exercisable by a Participant in excess
of such limitation, the excess shall be considered Non-Qualified Share Options.



(b) Exercise Price. The
exercise price of an Incentive Share Option shall be equal to the Fair Market Value on the date of grant. However, the exercise price
of any Incentive Share Option granted to any individual who, at the date of grant, owns Shares possessing more than ten percent of the
total combined voting power of all shares of the Company or any Parent or Subsidiary of the Company may not be less than 110% of Fair
Market Value on the date of grant and such Option may not be exercisable for more than five years from the date of grant.



(c) Transfer Restriction.
The Participant shall give the Company prompt notice of any disposition of Shares acquired by exercise of an Incentive Share Option within
(i) two years from the date of grant of such Incentive Share Option or (ii) one year after the transfer of such Shares to the Participant.



(d) Expiration of Incentive
Share Options. No Award of an Incentive Share Option may be made pursuant to this Plan after the tenth anniversary of the Effective
Date.



(e) Right to Exercise.
During a Participant’s lifetime, an Incentive Share Option may be exercised only by the Participant.



ARTICLE 6



RESTRICTED SHARES



6.1 Grant of Restricted
Shares. The Committee, at any time and from time to time, may grant Restricted Shares to Participants as the Committee, in its sole
discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Shares to be granted to each
Participant.



6.2 Restricted Shares Award
Agreement. Each Award of Restricted Shares shall be evidenced by an Award Agreement that shall specify the period of restriction,
the number of Restricted Shares granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine.
Unless the Committee determines otherwise, Restricted Shares shall be held by the Company as escrow agent until the restrictions on such
Restricted Shares have lapsed.



6.3 Issuance and Restrictions.
Restricted Shares shall be subject to such restrictions on transferability and other restrictions as the Committee may impose (including,
without limitation, limitations on the right to vote Restricted Shares or the right to receive dividends on the Restricted Shares). These
restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise,
as the Committee determines at the time of the grant of the Award or thereafter.





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6.4 Forfeiture/Repurchase.
Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of employment or
service during the applicable restriction period, Restricted Shares that are at that time subject to restrictions shall be forfeited or
repurchased in accordance with the Award Agreement; provided, however, the Committee may (a) provide in any Restricted Share Award
Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Shares will be waived in whole or in part in
the event of terminations resulting from specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture
and repurchase conditions relating to Restricted Shares.



6.5 Certificates for Restricted
Shares. Restricted Shares granted pursuant to the Plan may be evidenced in such manner as the Committee shall determine. If certificates
representing Restricted Shares are registered in the name of the Participant, certificates must bear an appropriate legend referring to
the terms, conditions, and restrictions applicable to such Restricted Shares, and the Company may, at its discretion, retain physical
possession of the certificate until such time as all applicable restrictions lapse.



6.6 Removal of Restrictions.
Except as otherwise provided in this Article 6, Restricted Shares granted under the Plan shall be released from escrow as soon as practicable
after the last day of the period of restriction. The Committee, in its discretion, may accelerate the time at which any restrictions shall
lapse or be removed. After the restrictions have lapsed, the Participant shall be entitled to have any legend or legends under Section
6.5 removed from his or her Share certificate, and the Shares shall be freely transferable by the Participant, subject to applicable legal
restrictions. The Committee (in its discretion) may establish procedures regarding the release of Shares from escrow and the removal of
legends, as necessary or appropriate to minimize administrative burdens on the Company.



ARTICLE 7



RESTRICTED SHARE UNITS



7.1 Grant of Restricted
Share Units. The Committee, at any time and from time to time, may grant Restricted Share Units to Participants as the Committee,
in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Share Units to
be granted to each Participant.



7.2 Restricted Share Units
Award Agreement. Each Award of Restricted Share Units shall be evidenced by an Award Agreement that shall specify any vesting conditions,
the number of Restricted Share Units granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine.



7.3 Form and Timing of
Payment of Restricted Share Units. At the time of grant, the Committee shall specify the date or dates on which the Restricted Share
Units shall become fully vested and nonforfeitable. Upon vesting, the Committee, in its sole discretion, may pay Restricted Share Units
in the form of cash, Shares or a combination thereof.



7.4 Forfeiture/Repurchase.
Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of employment or
service during the applicable restriction period, Restricted Share Units that are at that time unvested shall be forfeited or repurchased
in accordance with the Award Agreement; provided, however, the Committee may (a) provide in any Restricted Share Unit Award Agreement
that restrictions or forfeiture and repurchase conditions relating to Restricted Share Units will be waived in whole or in part in the
event of terminations resulting from specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture and
repurchase conditions relating to Restricted Share Units.





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ARTICLE 8



PROVISIONS APPLICABLE TO AWARDS



8.1 Award Agreement.
Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and limitations for each Award which
may include the term of an Award, the provisions applicable in the event the Participant’s employment or service terminates, and
the Company’s authority to unilaterally or bilaterally amend, modify, suspend, cancel or rescind an Award.



8.2 No Transferability;
Limited Exception to Transfer Restrictions.



8.2.1 Limits on Transfer.Unless otherwise expressly provided in (or pursuant to) this Section 8.2, by applicable law and by the Award Agreement, as the same
may be amended:



|(a) | all Awards are non-transferable and will not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance or charge;
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|(b) | Awards will be exercised only by the Participant; and
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|(c) | amounts payable or shares issuable pursuant to an Award will be delivered only to (or for the account of), and, in the case of Shares, registered in the name of, the Participant.
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In addition, the shares shall be subject
to the restrictions set forth in the applicable Award Agreement.



8.2.2 Further Exceptions
to Limits on Transfer. The exercise and transfer restrictions in Section 8.2.1 will not apply to:



|(a) | transfers to the Company or a Subsidiary;
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|(b) | transfers by gift to “immediate family” as that term is defined in SEC Rule 16a-1(e) promulgated under the Exchange Act;
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|(c) | the designation of a beneficiary to receive benefits if the Participant dies or, if the Participant has died, transfers to or exercises by the Participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent and distribution; or
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|(d) | if the Participant has suffered a disability, permitted transfers or exercises on behalf of the Participant by the Participant’s duly authorized legal representative; or
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|(e) | subject to the prior approval of the Committee or an executive officer or director of the Company authorized by the Committee, transfer to one or more natural persons who are the Participant’s family members or entities owned and controlled by the Participant and/or the Participant’s family members, including but not limited to trusts or other entities whose beneficiaries or beneficial owners are the Participant and/or the Participant’s family members, or to such other persons or entities as may be expressly approved by the Committee, pursuant to such conditions and procedures as the Committee or may establish. Any permitted transfer shall be subject to the condition that the Committee receives evidence satisfactory to it that the transfer is being made for estate and/or tax planning purposes and on a basis consistent with the Company’s lawful issue of securities.
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Notwithstanding anything else in this
Section 8.2.2 to the contrary, but subject to compliance with all Applicable Laws, Incentive Share Options, Restricted Shares and Restricted
Share Units will be subject to any and all transfer restrictions under the Code applicable to such Awards or necessary to maintain the
intended tax consequences of such Awards. Notwithstanding clause (b) above but subject to compliance with all Applicable Laws, any contemplated
transfer by gift to “immediate family” as referenced in clause (b) above is subject to the condition precedent that the transfer
be approved by the Committee in order for it to be effective.



8.3 Beneficiaries.
Notwithstanding Section 8.2, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights
of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary, legal
guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions of the
Plan and any Award Agreement applicable to the Participant, except to the extent the Plan and Award Agreement otherwise provide, and to
any additional restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community
property state, and there is a designation of a person other than the Participant’s spouse as his or her beneficiary with respect
to more than 50% of the Participant’s interest in the Award, the designation of such portion of the Participant’s interest
exceeding 50% shall not be effective without the prior written consent of the Participant’s spouse, while the designation of such
portion of the Participant’s interest of up to 50% shall remain effective. If no beneficiary has been designated or survives the
Participant, payment shall be made to the person entitled thereto pursuant to the Participant’s will or the laws of descent and
distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided the
change or revocation is filed with the Committee.



8.4 Performance Objectives
and Other Terms. The Committee, in its discretion, shall set performance objectives or other vesting criteria which, depending on
the extent to which they are met, will determine the number or value of the Awards that will be granted or paid out to the Participants.





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8.5 Share Certificates.
Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates evidencing the
Shares pursuant to the exercise of any Award, unless and until the Committee has determined, with advice of counsel, that the issuance
and delivery of such certificates is in compliance with all Applicable Laws, regulations of governmental authorities and, if applicable,
the requirements of any exchange on which the Shares are listed or traded. All Share certificates delivered pursuant to the Plan are subject
to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with all Applicable Laws, and
the rules of any national securities exchange or automated quotation system on which the Shares are listed, quoted, or traded. The Committee
may place legends on any Share certificate to reference restrictions applicable to the Shares. In addition to the terms and conditions
provided herein, the Committee may require that a Participant make such reasonable covenants, agreements, and representations as the Committee,
in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. The Committee shall have the right
to require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including
a window-period limitation, as may be imposed in the discretion of the Committee.



8.6 Paperless Administration.
Subject to Applicable Laws, the Committee may make Awards, provide applicable disclosure and procedures for exercise of Awards by an internet
website or interactive voice response system for the paperless administration of Awards.



8.7 Foreign Currency.
A Participant may be required to provide evidence that any currency used to pay the exercise price of any Award was acquired and taken
out of the jurisdiction in which the Participant resides in accordance with Applicable Laws, including foreign exchange control laws and
regulations. In the event the exercise price for an Award is paid in local currencies or other foreign currency, as permitted by the Committee,
the amount payable will be determined by conversion from U.S. dollars at the exchange rate as selected by the Committee on the date of
exercise.



ARTICLE 9



changes
in capital structure



9.1 Adjustments. In
the event of any dividend, share split, combination or exchange of Shares, amalgamation, arrangement or consolidation, spin-off, recapitalization
or other distribution (other than normal cash dividends) of Company assets to its shareholders, or any other change affecting the Shares
or the share price of a Share, the Committee shall make such proportionate adjustments, if any, as the Committee in its discretion may
deem appropriate to reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the Plan
(including, but not limited to, adjustments of the limitations in Section 3.1); (b) the terms and conditions of any outstanding Awards
(including, without limitation, any applicable performance targets or criteria with respect thereto); and (c) the grant or exercise price
per share for any outstanding Awards under the Plan.





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9.2 Corporate Transactions.
Except as may otherwise be provided in any Award Agreement or any other written agreement entered into by and between the Company and
a Participant, if the Committee anticipates the occurrence, or upon the occurrence, of a Corporate Transaction, the Committee may, in
its sole discretion, provide for (i) any and all Awards outstanding hereunder to terminate at a specific time in the future and shall
give each Participant the right to exercise the vested portion of such Awards during a period of time as the Committee shall determine,
or (ii) the purchase of any Award for an amount of cash equal to the amount that could have been attained upon the exercise of such Award
(and, for the avoidance of doubt, if as of such date the Committee determines in good faith that no amount would have been attained upon
the exercise of such Award, then such Award may be terminated by the Company without payment), or (iii) the replacement of such Award
with other rights or property selected by the Committee in its sole discretion or the assumption of or substitution of such Award by the
successor or surviving corporation, or a Parent or Subsidiary thereof, with appropriate adjustments as to the number and kind of Shares
and prices, or (iv) payment of such Award in cash based on the value of Shares on the date of the Corporate Transaction plus reasonable
interest on the Award through the date as determined by the Committee when such Award would otherwise be vested or have been paid in accordance
with its original terms, if necessary to comply with Section 409A of the Code.



9.3 Outstanding Awards
– Other Changes. In the event of any other change in the capitalization of the Company or corporate change other than those
specifically referred to in this Article 9, the Committee may, in its absolute discretion, make such adjustments in the number and class
of shares (as applicable) subject to Awards outstanding on the date on which such change occurs and in the per share grant or exercise
price of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights.



9.4 No Other Rights.
Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation of Shares
of any class, the payment of any dividend, any increase or decrease in the number of shares of any class or any dissolution, liquidation,
merger, or consolidation of the Company or any other corporation. Except as expressly provided in the Plan or pursuant to action of the
Committee under the Plan, and 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 thereof shall be made with respect to, the number of Shares subject to an Award or the grant or exercise
price of any Award.



ARTICLE 10



ADMINISTRATION



10.1 Committee. The
Plan shall be administered by the Board or Compensation Committee (the “Committee”) to whom the Board shall delegate the authority
to grant or amend Awards to Participants other than any of the Committee members, Independent Directors and executive officers of the
Company. Reference to the Committee shall refer to the Board in absence of the Committee. Notwithstanding the foregoing, the full Board,
acting by majority of its members in office, shall conduct the general administration of the Plan if required by Applicable Laws, and
with respect to Awards granted to the Committee members, Independent Directors and executive officers of the Company and for purposes
of such Awards the term “Committee” as used in the Plan shall be deemed to refer to the Board.



10.2 Action by the Committee.
A majority of the Committee shall constitute a quorum. The acts of a majority of the members present at any meeting at which a quorum
is present, and acts approved unanimously in writing by all members of the Committee in lieu of a meeting, shall be deemed the acts of
the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished
to that member by any officer or other employee of a Group Entity, the Company’s independent certified public accountants, or any
executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan.





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10.3 Authority of the Committee.
Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion to:



(a) designate
Participants to receive Awards;



(b) determine
the type or types of Awards to be granted to each Participant;



(c) determine
the number of Awards to be granted and the number of Shares to which an Award will relate;



(d) designate
an administrator to administer the Awards to Participants other than Committee members, independent directors or executive officers of
the Company, including designating Participants to receive Awards, determining the type or types of Awards to be granted to each Participant,
and determining the number of Awards to be granted and the number of Shares to which an Award will relate;



(e) determine
the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant price, or
purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the
exercisability of an Award, and accelerations or waivers thereof, and any provisions related to non-competition and recapture of gain
on an Award, based in each case on such considerations as the Committee in its sole discretion determines;



(f) determine
whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be paid
in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered;



(g) prescribe
the form of each Award Agreement, which need not be identical for each Participant;



(h) decide all
other matters that must be determined in connection with an Award;



(i) establish,
adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan;



(j) interpret
the terms of, and any matter arising pursuant to, the Plan or any Award Agreement;



(k) amend terms
and conditions of Award Agreements; and



(l) make all other
decisions and determinations that may be required pursuant to the Plan or as the Committee deems necessary or advisable to administer
the Plan, including design and adopt from time to time new types of Awards that are in compliance with Applicable Laws.



10.4 Decisions Binding.
The Committee’s interpretation of the Plan, any Awards granted pursuant to the Plan, any Award Agreement and all decisions and determinations
by the Committee with respect to the Plan are final, binding, and conclusive on all parties.





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ARTICLE 11



EFFECTIVE AND EXPIRATION DATE



11.1 Effective Date.
The Plan shall become effective as of the date on which the Board adopts the Plan or as otherwise specified by the Board when adopting
the Plan (the “Effective Date”).



11.2 Expiration Date.
The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth anniversary of the Effective Date. Any Awards
that are outstanding on the tenth anniversary of the Effective Date shall remain in force according to the terms of the Plan and the applicable
Award Agreement.



ARTICLE 12



AMENDMENT, MODIFICATION, AND TERMINATION



12.1 Amendment, Modification,
and Termination. At any time and from time to time, the Board may terminate, amend or modify the Plan; provided, however, that
(a) to the extent necessary and desirable to comply with Applicable Laws or stock exchange rules, the Company shall obtain shareholder
approval of any Plan amendment in such a manner and to such a degree as required, unless the Company decides to follow home country practice,
and (b) unless the Company decides to follow home country practice, shareholder approval is required for any amendment to the Plan that
(i) increases the number of Shares available under the Plan (other than any adjustment as provided by Article 9 or Section 3.1(a)), or
(ii) permits the Committee to extend the term of the Plan or the exercise period for an Option beyond ten years from the date of grant.



12.2 Awards Previously
Granted. Except with respect to amendments made pursuant to Section 12.1, no termination, amendment, or modification of the Plan shall
adversely affect in any material way any Award previously granted pursuant to the Plan without the prior written consent of the Participant.



ARTICLE 13



GENERAL PROVISIONS



13.1 No Rights to Awards.
No Participant, employee, or other person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor
the Committee is obligated to treat Participants, employees, and other persons uniformly.



13.2 No Shareholders Rights.
No Award gives the Participant any of the rights of a shareholder of the Company unless and until Shares are in fact issued to such person
in connection with such Award.





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13.3 Taxes. No Shares
shall be delivered under the Plan to any Participant until such Participant has made arrangements acceptable to the Committee for the
satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any Subsidiary shall have
the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy all
applicable taxes (including the Participant’s payroll tax obligations) required or permitted by Applicable Laws to be withheld with
respect to any taxable event concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in satisfaction
of the foregoing requirement allow a Participant to elect to have the Company withhold Shares otherwise issuable under an Award (or allow
the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the
Plan, the number of Shares which may be withheld with respect to the issuance, vesting, exercise or payment of any Award (or which may
be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in order to satisfy
any income and payroll tax liabilities applicable to the Participant with respect to the issuance, vesting, exercise or payment of the
Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market Value on the date
of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for the
applicable income and payroll tax purposes that are applicable to such supplemental taxable income.



13.4 No Right to Employment
or Services. Nothing in the Plan or any Award Agreement shall interfere with or limit in any way the right of the Service Recipient
to terminate any Participant’s employment or services at any time, nor confer upon any Participant any right to continue in the
employment or services of any Service Recipient.



13.5 Unfunded Status of
Awards. The Plan is intended to be an “unfunded” plan for incentive compensation. With respect to any payments not yet
made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights
that are greater than those of a general creditor of the relevant Group Entity.



13.6 Indemnification.
To the extent allowable pursuant to Applicable Laws, each member of the Committee or of the Board shall be indemnified and held harmless
by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection
with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved
by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction
of judgment in such action, suit, or proceeding against him or her; provided he or she gives the Company an opportunity, at its
own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing
right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant
to the Company’s Memorandum of Association and Articles of Association, as a matter of law, or otherwise, or any power that the
Company may have to indemnify them or hold them harmless.



13.7 Relationship to Other
Benefits. No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension, retirement,
savings, profit sharing, group insurance, welfare or other benefit plan of any Group Entity except to the extent otherwise expressly provided
in writing in such other plan or an agreement thereunder.





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13.8 Expenses. The
expenses of administering the Plan shall be borne by the Group Entities.



13.9 Titles and Headings.
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.



13.10 Fractional Shares.
No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash shall be given in lieu of fractional
Shares or whether such fractional Shares shall be eliminated by rounding up or down as appropriate.



13.11 Government and Other
Regulations. The obligation of the Company to make payment of awards in Shares or otherwise shall be subject to all Applicable Laws,
and to such approvals by government agencies as may be required. The Company shall be under no obligation to register any of the Shares
paid pursuant to the Plan under the Securities Act or any other similar law in any applicable jurisdiction. If the Shares paid pursuant
to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act or other Applicable Laws, the Company
may restrict the transfer of such Shares in such manner as it deems advisable to ensure the availability of any such exemption.



13.12 Governing Law.
The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the Cayman Islands.



13.13 Section 409A.
To the extent that the Committee determines that any Award granted under the Plan is or may become subject to Section 409A of the Code,
the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code. To the extent
applicable, the Plan and the Award Agreements shall be interpreted in accordance with Section 409A of the Code and the U.S. Department
of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any such regulation or other
guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following
the Effective Date the Committee determines that any Award may be subject to Section 409A of the Code and related Department of Treasury
guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Committee may adopt such amendments
to the Plan and the applicable Award agreement or adopt other policies and procedures (including amendments, policies and procedures with
retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to (a) exempt the Award from
Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply
with the requirements of Section 409A of the Code and related U.S. Department of Treasury guidance.



13.14 Appendices. Subject
to Section 12.1, the Committee may approve such supplements, amendments or appendices to the Plan as it may consider necessary or appropriate
for purposes of compliance with Applicable Laws or otherwise and such supplements, amendments or appendices shall be considered a part
of the Plan; provided, however, that no such supplements shall increase the share limitation contained in Section 3.1 of the Plan without
the approval of the Board.





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