Exhibit 10.1


 


AdaptHealth
Corp.

Amended and Restated 2019 Stock Incentive Plan



(Effective as of July 27, 2021)


 


1.                 
Purpose.


 


The purpose of the Plan is to
assist the Company in attracting, retaining, motivating, and rewarding certain employees, officers, directors, and consultants of the
Company and its Affiliates and promoting the creation of long-term value for stockholders of the Company by closely aligning the interests
of such individuals with those of such stockholders. The Plan authorizes the award of Stock-based and cash-based incentives to Eligible
Persons to encourage such Eligible Persons to expend maximum effort in the creation of stockholder value.


 


The Plan, in its original form,
was approved by the Board on the Effective Date and by the Company’s stockholders on November 7, 2019. The Plan, as hereby
amended and restated, was approved by the Board on June 21, 2021 and by the Company’s stockholders on July 27, 2021.


 


2.                 
Definitions.


 


For purposes of the Plan, the
following terms shall be defined as set forth below:


 


(a)              
“Affiliate” means, with respect to a Person, any other Person that, directly or indirectly through one or more
intermediaries, controls, is controlled by, or is under common control with, such Person.


 


(b)              
“Award” means any Option, award of Restricted Stock, Restricted Stock Unit, Stock Appreciation Right, or other
Stock-based award granted under the Plan.


 


(c)              
“Award Agreement” means an Option Agreement, a Restricted Stock Agreement, an RSU Agreement, a SAR Agreement,
or an agreement governing the grant of any other Stock-based Award granted under the Plan.


 


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


 


(e)              
“Cause” means, with respect to a Participant and in the absence of an Award Agreement or Participant Agreement
otherwise defining Cause, (1) the Participant’s plea of nolo contendere to, conviction of or indictment for, any crime
(whether or not involving the Company or its Affiliates) (i) constituting a felony or (ii) that has, or could reasonably be
expected to result in, an adverse impact on the performance of the Participant’s duties to the Service Recipient, or otherwise has,
or could reasonably be expected to result in, an adverse impact on the business or reputation of the Company or its Affiliates, (2) conduct
of the Participant, in connection with his or her employment or service, that has resulted, or could reasonably be expected to result,
in injury to the business or reputation of the Company or its Affiliates, (3) any material violation of the policies of the Service
Recipient, including, but not limited to, those relating to sexual harassment or the disclosure or misuse of confidential information,
or those set forth in the manuals or statements of policy of the Service Recipient; (4) the Participant’s act(s) of negligence
or willful misconduct in the course of his or her employment or service with the Service Recipient; (5) misappropriation by the Participant
of any assets or business opportunities of the Company or its Affiliates; (6) embezzlement or fraud committed by the Participant,
at the Participant’s direction, or with the Participant’s prior actual knowledge; or (7) willful neglect in the performance
of the Participant’s duties for the Service Recipient or willful or repeated failure or refusal to perform such duties. If, subsequent
to the Termination of a Participant for any reason other than by the Service Recipient for Cause, it is discovered that the Participant’s
employment or service could have been terminated for Cause, such Participant’s employment or service shall, at the discretion of
the Committee, be deemed to have been terminated by the Service Recipient for Cause for all purposes under the Plan, and the Participant
shall be required to repay to the Company all amounts received by him or her in respect of any Award following such Termination that would
have been forfeited under the Plan had such Termination been by the Service Recipient for Cause. In the event that there is an Award Agreement
or Participant Agreement defining Cause, “Cause” shall have the meaning provided in such agreement, and a Termination
by the Service Recipient for Cause hereunder shall not be deemed to have occurred unless all applicable notice and cure periods in such
Award Agreement or Participant Agreement are complied with.


 


(f)               
“Change in Control” means:


 


(1)                a change in ownership or control of the Company effected through a transaction or series of transactions (other than an offering
of Stock to the general public through a registration statement filed with the U.S. Securities and Exchange Commission or similar
non-U.S. regulatory agency or pursuant to a Non-Control Transaction) whereby any “person” (as defined in Section 3(a)(9)
of the Exchange Act) or any two or more persons deemed to be one “person” (as used in Sections 13(d)(3) and 14(d)(2)
of the Exchange Act), other than the Company or any of its Affiliates, an employee benefit plan sponsored or maintained by the Company
or any of its Affiliates (or its related trust), or any underwriter temporarily holding securities pursuant to an offering of such securities,
directly or indirectly acquire “beneficial ownership” (within the meaning of Rule 13d-3 under the Exchange Act) of securities
of the Company possessing more than fifty percent (50%) of the total combined voting power of the Company’s securities eligible
to vote in the election of the Board (the “Company Voting Securities”);


 


(2)                the date, within any consecutive twenty-four (24) month period commencing on or after the Effective Date, upon which individuals
who constitute the Board as of the Effective Date (the “Incumbent Board”) cease for any reason to constitute at
least a majority of the Board; provided, however, that any individual who becomes a director subsequent to the Effective Date whose
election or nomination for election by the Company’s stockholders was approved by a vote of at least a majority of the directors
then constituting the Incumbent Board (either by a specific vote or by approval of the proxy statement of the Company in which such individual
is named as a nominee for director, without objection to such nomination) shall be considered as though such individual were a member
of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of
an actual or threatened election contest (including, but not limited to, a consent solicitation) with respect to the election or removal
of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board; or


 






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(3)                the consummation of a merger, consolidation, share exchange, or similar form of corporate transaction involving the Company or
any of its Affiliates that requires the approval of the Company’s stockholders (whether for such transaction, the issuance of securities
in the transaction or otherwise) (a “Reorganization”), unless immediately following such Reorganization (i) more
than fifty percent (50%) of the total voting power of (A) the corporation resulting from such Reorganization (the “Surviving
Company”) or (B) if applicable, the ultimate parent corporation that has, directly or indirectly, beneficial ownership
of one hundred percent (100%) of the voting securities of the Surviving Company (the “Parent Company”), is represented
by Company Voting Securities that were outstanding immediately prior to such Reorganization (or, if applicable, is represented by shares
into which such Company Voting Securities were converted pursuant to such Reorganization), and such voting power among the holders thereof
is in substantially the same proportion as the voting power of such Company Voting Securities among holders thereof immediately prior
to such Reorganization, (ii) no person, other than an employee benefit plan sponsored or maintained by the Surviving Company or the
Parent Company (or its related trust), is or becomes the beneficial owner, directly or indirectly, of fifty percent (50%) or more of the
total voting power of the outstanding voting securities eligible to elect directors of the Parent Company, or if there is no Parent Company,
the Surviving Company, and (iii) at least a majority of the members of the board of directors of the Parent Company, or if there
is no Parent Company, the Surviving Company, following the consummation of such Reorganization are members of the Incumbent Board at the
time of the Board’s approval of the execution of the initial agreement providing for such Reorganization (any Reorganization which
satisfies all of the criteria specified in clauses (i), (ii), and (iii) above shall be a “Non-Control Transaction”);
or


 


(4)                the sale or disposition, in one or a series of related transactions, of all or substantially all of the assets of the Company to
any “person” (as defined in Section 3(a)(9) of the Exchange Act) or to any two or more persons deemed to be one “person”
(as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) other than the Company’s Affiliates.


 


Notwithstanding the foregoing, (x) a Change
in Control shall not be deemed to occur solely because any person acquires beneficial ownership of fifty percent (50%) or more of the
Company Voting Securities as a result of an acquisition of Company Voting Securities by the Company that reduces the number of Company
Voting Securities outstanding; provided that if after such acquisition by the Company such person becomes the beneficial owner
of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such
person, a Change in Control shall then be deemed to occur, and (y) with respect to the payment of any amount that constitutes a deferral
of compensation subject to Section 409A of the Code payable upon a Change in Control, a Change in Control shall not be deemed to
have occurred, unless the Change in Control constitutes a change in the ownership or effective control of the Company or in the ownership
of a substantial portion of the assets of the Company under Section 409A(a)(2)(A)(v) of the Code.


 






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(g)              
“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time, including the rules
and regulations thereunder and any successor provisions, rules and regulations thereto.


 


(h)              
“Committee” means the Board, the Compensation Committee of the Board or such other committee consisting of two
or more individuals appointed by the Board to administer the Plan and each other individual or committee of individuals designated to
exercise authority under the Plan.


 


(i)                
“Company” means AdaptHealth Corp., a Delaware corporation.


 


(j)                
“Corporate Event” has the meaning set forth in Section 10(b) hereof.


 


(k)              
“Data” has the meaning set forth in Section 20(f) hereof.


 


(l)               
“Disability” means, in the absence of an Award Agreement or Participant Agreement otherwise defining Disability,
the permanent and total disability of such Participant within the meaning of Section 22(e)(3) of the Code. In the event that there
is an Award Agreement or Participant Agreement defining Disability, “Disability” shall have the meaning provided in
such Award Agreement or Participant Agreement.


 


(m)            
“Disqualifying Disposition” means any disposition (including any sale) of Stock acquired upon the exercise of
an Incentive Stock Option made within the period that ends either (1) two years after the date on which the Participant was granted the
Incentive Stock Option or (2) one year after the date upon which the Participant acquired the Stock.


 


(n)              
“Effective Date” means October 14, 2019, which is the date on which the Plan was approved by the Board.


 


(o)              
“Eligible Person” means (1) each employee and officer of the Company or any of its Affiliates, (2) each
non-employee director of the Company or any of its Affiliates; (3) each other natural Person who provides substantial services to
the Company or any of its Affiliates as a consultant or advisor (or a wholly owned alter ego entity of the natural Person providing such
services of which such Person is an employee, stockholder or partner) and who is designated as eligible by the Committee, and (4) each
natural Person who has been offered employment by the Company or any of its Affiliates; provided that such prospective employee
may not receive any payment or exercise any right relating to an Award until such Person has commenced employment or service with the
Company or its Affiliates; provided further, however, that (i) with respect to any Award that is intended to qualify as a
 “stock right” that does not provide for a “deferral of compensation” within the meaning of Section 409A of
the Code, the term “Affiliate” as used in this Section 2(o) shall include only those corporations or other entities
in the unbroken chain of corporations or other entities beginning with the Company where each of the corporations or other entities in
the unbroken chain other than the last corporation or other entity owns stock possessing at least fifty percent (50%) or more of the total
combined voting power of all classes of stock in one of the other corporations or other entities in the chain, and (ii) with respect to
any Award that is intended to be an Incentive Stock Option, the term “Affiliate” as used in this Section 2(o) shall include
only those entities that qualify as a “subsidiary corporation” with respect to the Company within the meaning of Section 424(f)
of the Code. An employee on an approved leave of absence may be considered as still in the employ of the Company or any of its Affiliates
for purposes of eligibility for participation in the Plan.


 






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(p)              
“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended from time to time, including
the rules and regulations thereunder and any successor provisions, rules and regulations thereto.


 


(q)              
“Expiration Date” means, with respect to an Option or Stock Appreciation Right, the date on which the term of
such Option or Stock Appreciation Right expires, as determined under Sections 5(b) or 8(b) hereof, as applicable.


 


(r)               
“Fair Market Value” means, as of any date when the Stock is listed on one or more national securities exchanges,
the closing price reported on the principal national securities exchange on which such Stock is listed and traded on the date of determination
or, if the closing price is not reported on such date of determination, the closing price reported on the most recent date prior to the
date of determination. If the Stock is not listed on a national securities exchange, “Fair Market Value” shall mean
the amount determined by the Board in good faith, and in a manner consistent with Section 409A of the Code, to be the fair market
value per share of Stock.


 


(s)               
“GAAP” means the U.S. Generally Accepted Accounting Principles, as in effect from time to time.


 


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


 


(u)              
“Nonqualified Stock Option” means an Option not intended to be an Incentive Stock Option.


 


(v)              
“Option” means a conditional right, granted to a Participant under Section 5 hereof, to purchase Stock
at a specified price during a specified time period.


 


(w)            
“Option Agreement” means a written agreement between the Company and a Participant evidencing the terms and
conditions of an individual Option Award.


 






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(x)              
“Participant” means an Eligible Person who has been granted an Award under the Plan or, if applicable, such
other Person who holds an Award.


 


(y)              
“Participant Agreement” means an employment or other services agreement between a Participant and the Service
Recipient that describes the terms and conditions of such Participant’s employment or service with the Service Recipient and is
effective as of the date of determination.


 


(z)              
“Person” means any individual, corporation, partnership, firm, joint venture, association, joint-stock company,
trust, unincorporated organization, or other entity.


 


(aa)           
“Plan” means this Amended and Restated AdaptHealth Corp. 2019 Stock Incentive Plan, as amended from time to
time.


 


(bb)          
“Qualified Member” means a member of the Committee who is a “Non-Employee Director” within the meaning
of Rule 16b-3 under the Exchange Act and an “independent director” as defined under, as applicable, the NASDAQ Listing
Rules, the NYSE Listed Company Manual or other applicable stock exchange rules.


 


(cc)           
“Qualifying Committee” has the meaning set forth in Section 3(b) hereof.


 


(dd)          
“Restricted Stock” means Stock granted to a Participant under Section 6 hereof that is subject to certain
restrictions and to a risk of forfeiture.


 


(ee)           
“Restricted Stock Agreement” means a written agreement between the Company and a Participant evidencing the
terms and conditions of an individual Restricted Stock Award.


 


(ff)             
“Restricted Stock Unit” means a notional unit representing the right to receive one share of Stock (or the cash
value of one share of Stock, if so determined by the Committee) on a specified settlement date.


 


(gg)          
“RSU Agreement” means a written agreement between the Company and a Participant evidencing the terms and conditions
of an individual Award of Restricted Stock Units.


 


(hh)          
“SAR Agreement” means a written agreement between the Company and a Participant evidencing the terms and conditions
of an individual Award of Stock Appreciation Rights.


 


(ii)             
“Securities Act” means the U.S. Securities Act of 1933, as amended from time to time, including the rules
and regulations thereunder and any successor provisions, rules and regulations thereto.


 


(jj)             
“Service Recipient” means, with respect to a Participant holding an Award, either the Company or an Affiliate
of the Company by which the original recipient of such Award is, or following a Termination was most recently, principally employed or
to which such original recipient provides, or following a Termination was most recently providing, services, as applicable.


 






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(kk)          
“Stock” means Common Stock, par value $0.0001 per share, of the Company, and such other securities as may be
substituted for such stock pursuant to Section 10 hereof.


 


(ll)             
“Stock Appreciation Right” means a conditional right to receive an amount equal to the value of the appreciation
in the Stock over a specified period. Except in the event of extraordinary circumstances, as determined in the sole discretion of the
Committee, or pursuant to Section 10(b) hereof, Stock Appreciation Rights shall be settled in Stock.


 


(mm)         
“Substitute Award” has the meaning set forth in Section 4(a) hereof.


 


(nn)          
“Termination” means the termination of a Participant’s employment or service, as applicable, with the
Service Recipient; provided, however, that, if so determined by the Committee at the time of any change in status in relation to
the Service Recipient (e.g., a Participant ceases to be an employee and begins providing services as a consultant, or vice versa),
such change in status will not be deemed a Termination hereunder. Unless otherwise determined by the Committee, in the event that the
Service Recipient ceases to be an Affiliate of the Company (by reason of sale, divestiture, spin-off, or other similar transaction), unless
a Participant’s employment or service is transferred to another entity that would constitute the Service Recipient immediately following
such transaction, such Participant shall be deemed to have suffered a Termination hereunder as of the date of the consummation of such
transaction. Notwithstanding anything herein to the contrary, a Participant’s change in status in relation to the Service Recipient
(for example, a change from employee to consultant) shall not be deemed a Termination hereunder with respect to any Awards constituting
 “nonqualified deferred compensation” subject to Section 409A of the Code that are payable upon a Termination unless such
change in status constitutes a “separation from service” within the meaning of Section 409A of the Code. Any payments
in respect of an Award constituting nonqualified deferred compensation subject to Section 409A of the Code that are payable upon
a Termination shall be delayed for such period as may be necessary to meet the requirements of Section 409A(a)(2)(B)(i) of the Code.
On the first business day following the expiration of such period, the Participant shall be paid, in a single lump sum without interest,
an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, and any remaining payments not so
delayed shall continue to be paid pursuant to the payment schedule applicable to such Award.


 


3.                 Administration.


 


(a)              
Authority of the Committee. Except as otherwise provided below, the Plan shall be administered by the Committee. The Committee
shall have full and final authority, in each case subject to and consistent with the provisions of the Plan, to (1) select Eligible
Persons to become Participants, (2) grant Awards, (3) determine the type, number and type of shares of Stock subject to, other
terms and conditions of, and all other matters relating to, Awards, (4) prescribe Award Agreements (which need not be identical for
each Participant) and rules and regulations for the administration of the Plan, (5) construe and interpret the Plan and Award Agreements
and correct defects, supply omissions, and reconcile inconsistencies therein, (6) suspend the right to exercise Awards during any
period that the Committee deems appropriate to comply with applicable securities laws, and thereafter extend the exercise period of an
Award by an equivalent period of time or such shorter period required by, or necessary to comply with, applicable law, and (7) make
all other decisions and determinations as the Committee may deem necessary or advisable for the administration of the Plan. Any action
of the Committee shall be final, conclusive, and binding on all Persons, including, without limitation, the Company, its stockholders
and Affiliates, Eligible Persons, Participants, and beneficiaries of Participants. Notwithstanding anything in the Plan to the contrary,
the Committee shall have the ability to accelerate the vesting of any outstanding Award at any time and for any reason, including upon
a Corporate Event, subject to Section 10(d), or in the event of a Participant’s Termination by the Service Recipient other
than for Cause, or due to the Participant’s death, Disability or retirement (as such term may be defined in an applicable Award
Agreement or Participant Agreement, or, if no such definition exists, in accordance with the Company’s then-current employment policies
and guidelines). For the avoidance of doubt, the Board shall have the authority to take all actions under the Plan that the Committee
is permitted to take.


 






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(b)              
Manner of Exercise of Committee Authority. At any time that a member of the Committee is not a Qualified Member,
any action of the Committee relating to an Award granted or to be granted to a Participant who is then subject to Section 16 of the
Exchange Act in respect of the Company, must be taken by the remaining members of the Committee or a subcommittee, designated by the Committee
or the Board, composed solely of two or more Qualified Members (a “Qualifying Committee”). Any action authorized
by such a Qualifying Committee shall be deemed the action of the Committee for purposes of the Plan. The express grant of any specific
power to a Qualifying Committee, and the taking of any action by such a Qualifying Committee, shall not be construed as limiting any power
or authority of the Committee.


 


(c)              
Delegation. To the extent permitted by applicable law, the Committee may delegate to officers or employees of the Company
or any of its Affiliates, or committees thereof, the authority, subject to such terms as the Committee shall determine, to perform such
functions under the Plan, including, but not limited to, administrative functions, as the Committee may determine appropriate. The Committee
may appoint agents to assist it in administering the Plan. Any actions taken by an officer or employee delegated authority pursuant to
this Section 3(c) within the scope of such delegation shall, for all purposes under the Plan, be deemed to be an action taken by
the Committee. Notwithstanding the foregoing or any other provision of the Plan to the contrary, any Award granted under the Plan to any
Eligible Person who is not an employee of the Company or any of its Affiliates (including any non-employee director of the Company or
any Affiliate) or to any Eligible Person who is subject to Section 16 of the Exchange Act must be expressly approved by the Committee
or Qualifying Committee in accordance with Section 3(b) above.


 






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(d)              
Sections 409A and 457A. The Committee shall take into account compliance with Sections 409A and 457A of the Code
in connection with any grant of an Award under the Plan, to the extent applicable. While the Awards granted hereunder are intended to
be structured in a manner to avoid the imposition of any penalty taxes under Sections 409A and 457A of the Code, in no event whatsoever
shall the Company or any of its Affiliates be liable for any additional tax, interest, or penalties that may be imposed on a Participant
as a result of Section 409A or Section 457A of the Code or any damages for failing to comply with Section 409A or Section 457A
of the Code or any similar state or local laws (other than for withholding obligations or other obligations applicable to employers, if
any, under Section 409A or Section 457A of the Code).


 


4.                 Shares
Available Under the Plan; Other Limitations.


 


(a)              
Number of Shares Available for Delivery. Subject to adjustment as provided in Section 10 hereof, the total number of
shares of Stock reserved and available for delivery in connection with Awards under the Plan shall equal 10,000,000. Shares of Stock delivered
under the Plan shall consist of authorized and unissued shares or previously issued shares of Stock reacquired by the Company on the open
market or by private purchase. Notwithstanding the foregoing, (i) except as may be required by reason of Section 422 of the
Code, the number of shares of Stock available for issuance hereunder shall not be reduced by shares issued pursuant to Awards issued or
assumed in connection with a merger or acquisition as contemplated by, as applicable, NYSE Listed Company Manual Section 303A.08,
NASDAQ Listing Rule 5635(c) and IM-5635-1, AMEX Company Guide Section 711, or other applicable stock exchange rules, and their
respective successor rules and listing exchange promulgations (each such Award, a “Substitute Award”); and (ii) shares
of Stock shall not be deemed to have been issued pursuant to the Plan with respect to any portion of an Award that is settled in cash.


 


(b)              
Share Counting Rules. The Committee may adopt reasonable counting procedures to ensure appropriate counting, avoid double-counting
(as, for example, in the case of tandem awards or Substitute Awards) and make adjustments if the number of shares of Stock actually delivered
differs from the number of shares previously counted in connection with an Award. Other than with respect to a Substitute Award, to the
extent that an Award expires or is canceled, forfeited, settled in cash, or otherwise terminated without delivery to the Participant of
the full number of shares of Stock to which the Award related, the undelivered shares of Stock will again be available for grant. Shares
of Stock withheld in payment of the exercise price or taxes relating to an Award and shares of Stock equal to the number surrendered in
payment of any exercise price or taxes relating to an Award shall not be deemed to constitute shares delivered to the Participant and
shall be deemed to again be available for delivery under the Plan.


 






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(c)              
Incentive Stock Options. No more than 10,000,000 shares of Stock (subject to adjustment as provided in Section 10 hereof)
reserved for issuance hereunder may be issued or transferred upon exercise or settlement of Incentive Stock Options.


 


(d)              
Shares Available Under Acquired Plans. To the extent permitted by NYSE Listed Company Manual Section 303A.08, NASDAQ
Listing Rule 5635(c) or other applicable stock exchange rules, subject to applicable law, in the event that a company acquired by
the Company or with which the Company combines has shares available under a pre-existing plan approved by stockholders and not adopted
in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as
adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio of formula used in such acquisition
or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination)
may be used for Awards under the Plan and shall not reduce the number of shares of Stock reserved and available for delivery in connection
with Awards under the Plan; provided that Awards using such available shares shall not be made after the date awards could have
been made under the terms of such pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who
were not employed by the Company or any subsidiary of the Company immediately prior to such acquisition or combination.


 


5.                Options.


 


(a)              
General. Certain Options granted under the Plan may be intended to be Incentive Stock Options; however, no Incentive Stock
Options may be granted hereunder following the tenth (10th) anniversary of the earlier of (i) the date the Plan is adopted by the Board
and (ii) the date the stockholders of the Company approve the Plan. Options may be granted to Eligible Persons in such form and having
such terms and conditions as the Committee shall deem appropriate; provided, however, that Incentive Stock Options may be
granted only to Eligible Persons who are employees of the Company or an Affiliate (as such definition is limited pursuant to Section 2(o)
hereof) of the Company. The provisions of separate Options shall be set forth in separate Option Agreements, which agreements need not
be identical. No dividends or dividend equivalents shall be paid on Options.


 


(b)              
Term. The term of each Option shall be set by the Committee at the time of grant; provided, however, that no Option
granted hereunder shall be exercisable after, and each Option shall expire, ten (10) years from the date it was granted.


 


(c)              
Exercise Price. The exercise price per share of Stock for each Option shall be set by the Committee at the time of grant
and shall not be less than the Fair Market Value on the date of grant, subject to Section 5(g) hereof in the case of any Incentive
Stock Option. Notwithstanding the foregoing, in the case of an Option that is a Substitute Award, the exercise price per share of Stock
for such Option may be less than the Fair Market Value on the date of grant; provided, that such exercise price is determined in
a manner consistent with the provisions of Section 409A of the Code and, if applicable, Section 424(a) of the Code.


 






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(d)              
Payment for Stock. Payment for shares of Stock acquired pursuant to an Option granted hereunder shall be made in full upon
exercise of the Option in a manner approved by the Committee, which may include any of the following payment methods: (1) in immediately
available funds in U.S. dollars, or by certified or bank cashier’s check, (2)  by delivery of shares of Stock having a
value equal to the exercise price, (3) by a broker-assisted cashless exercise in accordance with procedures approved by the Committee,
whereby payment of the Option exercise price or tax withholding obligations may be satisfied, in whole or in part, with shares of Stock
subject to the Option by delivery of an irrevocable direction to a securities broker (on a form prescribed by the Committee) to sell shares
of Stock and to deliver all or part of the sale proceeds to the Company in payment of the aggregate exercise price and, if applicable,
the amount necessary to satisfy the Company’s withholding obligations, or (4) by any other means approved by the Committee
(including, by delivery of a notice of “net exercise” to the Company, pursuant to which the Participant shall receive the
number of shares of Stock underlying the Option so exercised reduced by the number of shares of Stock equal to the aggregate exercise
price of the Option divided by the Fair Market Value on the date of exercise). Notwithstanding anything herein to the contrary, if the
Committee determines that any form of payment available hereunder would be in violation of Section 402 of the Sarbanes-Oxley Act
of 2002, such form of payment shall not be available.


 


(e)              
Vesting. Options shall vest and become exercisable in such manner, on such date or dates, or upon the achievement of performance
or other conditions, in each case as may be determined by the Committee and set forth in an Option Agreement; provided, however,
that notwithstanding any such vesting dates, the Committee may in its sole discretion accelerate the vesting of any Option at any time
and for any reason. Unless otherwise specifically determined by the Committee, the vesting of an Option shall occur only while the Participant
is employed by or rendering services to the Service Recipient, and all vesting shall cease upon a Participant’s Termination for
any reason. To the extent permitted by applicable law and unless otherwise determined by the Committee, vesting shall be suspended during
the period of any approved unpaid leave of absence by a Participant following which the Participant has a right to reinstatement and shall
resume upon such Participant’s return to active employment. If an Option is exercisable in installments, such installments or portions
thereof that become exercisable shall remain exercisable until the Option expires, is canceled or otherwise terminates.


 


(f)               
Termination of Employment or Service. Except as provided by the Committee in an Option Agreement, Participant Agreement
or otherwise:


 


(1)                In the event of a Participant’s Termination prior to the applicable Expiration Date for any reason other than (i) by
the Service Recipient for Cause, or (ii) by reason of the Participant’s death or Disability, (A) all vesting with respect
to such Participant’s Options outstanding shall cease, (B) all of such Participant’s unvested Options outstanding shall
terminate and be forfeited for no consideration as of the date of such Termination, and (C) all of such Participant’s vested
Options outstanding shall terminate and be forfeited for no consideration on the earlier of (x) the applicable Expiration Date and
(y) the date that is ninety (90) days after the date of such Termination.


 






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(2)                In the event of a Participant’s Termination prior to the applicable Expiration Date by reason of such Participant’s
death or Disability, (i) all vesting with respect to such Participant’s Options outstanding shall cease, (ii) all of such
Participant’s unvested Options outstanding shall terminate and be forfeited for no consideration as of the date of such Termination,
and (iii) all of such Participant’s vested Options outstanding shall terminate and be forfeited for no consideration on the
earlier of (x) the applicable Expiration Date and (y) the date that is twelve (12) months after the date of such Termination.


 


(3)                
In the event of a Participant’s Termination prior to the applicable Expiration Date by the Service Recipient for Cause, all
of such Participant’s Options outstanding (whether or not vested) shall immediately terminate and be forfeited for no consideration
as of the date of such Termination.


 


(g)              
Special Provisions Applicable to Incentive Stock Options.


 


(1)                 No Incentive Stock Option may be granted to any Eligible Person who, at the time the Option is granted, owns directly, or indirectly
within the meaning of Section 424(d) of the Code, stock possessing more than ten percent (10%) of the total combined voting power of all
classes of stock of the Company or of any parent or subsidiary thereof, unless such Incentive Stock Option (i) has an exercise price of
at least one hundred ten percent (110%) of the Fair Market Value on the date of the grant of such Option and (ii) cannot be exercised
more than five (5) years after the date it is granted.


 


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


 


(3)                 Each Participant who receives an Incentive Stock Option must agree to notify the Company in writing immediately after the Participant
makes a Disqualifying Disposition of any Stock acquired pursuant to the exercise of an Incentive Stock Option.


 


6.                  Restricted Stock.


 


(a)              
General. Restricted Stock may be granted to Eligible Persons in such form and having such terms and conditions as the Committee
shall deem appropriate. The provisions of separate Awards of Restricted Stock shall be set forth in separate Restricted Stock Agreements,
which agreements need not be identical. Subject to the restrictions set forth in Section 6(b) hereof, and except as otherwise set
forth in the applicable Restricted Stock Agreement, the Participant shall generally have the rights and privileges of a stockholder as
to such Restricted Stock, including the right to vote such Restricted Stock. Unless otherwise set forth in a Participant’s Restricted
Stock Agreement, cash dividends and stock dividends, if any, with respect to the Restricted Stock shall be withheld by the Company for
the Participant’s account, and shall be subject to forfeiture to the same degree as the shares of Restricted Stock to which such
dividends relate. Except as otherwise determined by the Committee, no interest will accrue or be paid on the amount of any cash dividends
withheld.


 






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(b)              
Vesting and Restrictions on Transfer. Restricted Stock shall vest in such manner, on such date or dates, or upon the achievement
of performance or other conditions, in each case as may be determined by the Committee and set forth in a Restricted Stock Agreement;
provided, however, that notwithstanding any such vesting dates, the Committee may in its sole discretion accelerate the vesting
of any Award of Restricted Stock at any time and for any reason. Unless otherwise specifically determined by the Committee, the vesting
of an Award of Restricted Stock shall occur only while the Participant is employed by or rendering services to the Service Recipient,
and all vesting shall cease upon a Participant’s Termination for any reason. To the extent permitted by applicable law and unless
otherwise determined by the Committee, vesting shall be suspended during the period of any approved unpaid leave of absence by a Participant
following which the Participant has a right to reinstatement and shall resume upon such Participant’s return to active employment.
In addition to any other restrictions set forth in a Participant’s Restricted Stock Agreement, the Participant shall not be permitted
to sell, transfer, pledge, or otherwise encumber the Restricted Stock prior to the time the Restricted Stock has vested pursuant to the
terms of the Restricted Stock Agreement.


 


(c)              
Termination of Employment or Service. Except as provided by the Committee in a Restricted Stock Agreement, Participant Agreement
or otherwise, in the event of a Participant’s Termination for any reason prior to the time that such Participant’s Restricted
Stock has vested, (1) all vesting with respect to such Participant’s Restricted Stock outstanding shall cease, and (2) as
soon as practicable following such Termination, the Company shall repurchase from the Participant, and the Participant shall sell, all
of such Participant’s unvested shares of Restricted Stock at a purchase price equal to the original purchase price paid for the
Restricted Stock; provided that, if the original purchase price paid for the Restricted Stock is equal to zero dollars ($0), such
unvested shares of Restricted Stock shall be forfeited to the Company by the Participant for no consideration as of the date of such Termination.


 


7.                 
Restricted Stock Units.


 


(a)              
General. Restricted Stock Units may be granted to Eligible Persons in such form and having such terms and conditions as
the Committee shall deem appropriate. The provisions of separate Restricted Stock Units shall be set forth in separate RSU Agreements,
which agreements need not be identical.


 


(b)              
Vesting. Restricted Stock Units shall vest in such manner, on such date or dates, or upon the achievement of performance
or other conditions, in each case as may be determined by the Committee and set forth in an RSU Agreement; provided, however,
that notwithstanding any such vesting dates, the Committee may in its sole discretion accelerate the vesting of any Restricted Stock Unit
at any time and for any reason. Unless otherwise specifically determined by the Committee, the vesting of a Restricted Stock Unit shall
occur only while the Participant is employed by or rendering services to the Service Recipient, and all vesting shall cease upon a Participant’s
Termination for any reason. To the extent permitted by applicable law and unless otherwise determined by the Committee, vesting shall
be suspended during the period of any approved unpaid leave of absence by a Participant following which the Participant has a right to
reinstatement and shall resume upon such Participant’s return to active employment.


 






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(c)              Settlement.
Restricted Stock Units shall be settled in Stock, cash, or property, as determined by the Committee, in its sole discretion, on the date
or dates determined by the Committee and set forth in an RSU Agreement. Unless otherwise set forth in a Participant’s RSU Agreement,
a Participant shall not be entitled to dividends, if any, or dividend equivalents with respect to Restricted Stock Units prior to settlement.


 


(d)               Termination of Employment or Service. Except as provided by the Committee in an RSU Agreement, Participant Agreement or
otherwise, in the event of a Participant’s Termination for any reason prior to the time that such Participant’s Restricted
Stock Units have been settled, (1) all vesting with respect to such Participant’s Restricted Stock Units outstanding shall
cease, (2) all of such Participant’s unvested Restricted Stock Units outstanding shall be forfeited for no consideration as
of the date of such Termination, and (3) any shares remaining undelivered with respect to vested Restricted Stock Units then held
by such Participant shall be delivered on the delivery date or dates specified in the RSU Agreement.


 


8.                  Stock
Appreciation Rights.


 


(a)              
General. Stock Appreciation Rights may be granted to Eligible Persons in such form and having such terms and conditions
as the Committee shall deem appropriate. The provisions of separate Stock Appreciation Rights shall be set forth in separate SAR Agreements,
which agreements need not be identical. No dividends or dividend equivalents shall be paid on Stock Appreciation Rights.


 


(b)               Term.
The term of each Stock Appreciation Right shall be set by the Committee at the time of grant; provided, however, that no Stock
Appreciation Right granted hereunder shall be exercisable after, and each Stock Appreciation Right shall expire, ten (10) years from
the date it was granted.


 


(c)               Base
Price. The base price per share of Stock for each Stock Appreciation Right shall be set by the Committee at the time of grant and
shall not be less than the Fair Market Value on the date of grant. Notwithstanding the foregoing, in the case of a Stock Appreciation
Right that is a Substitute Award, the base price per share of Stock for such Stock Appreciation Right may be less than the Fair Market
Value on the date of grant; provided, that such base price is determined in a manner consistent with the provisions of Section 409A
of the Code.


 






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(d)              
Vesting. Stock Appreciation Rights shall vest and become exercisable in such manner, on such date or dates, or upon the
achievement of performance or other conditions, in each case as may be determined by the Committee and set forth in a SAR Agreement; provided,
however, that notwithstanding any such vesting dates, the Committee may in its sole discretion accelerate the vesting of any Stock
Appreciation Right at any time and for any reason. Unless otherwise specifically determined by the Committee, the vesting of a Stock Appreciation
Right shall occur only while the Participant is employed by or rendering services to the Service Recipient, and all vesting shall cease
upon a Participant’s Termination for any reason. To the extent permitted by applicable law and unless otherwise determined by the
Committee, vesting shall be suspended during the period of any approved unpaid leave of absence by a Participant following which the Participant
has a right to reinstatement and shall resume upon such Participant’s return to active employment. If a Stock Appreciation Right
is exercisable in installments, such installments or portions thereof that become exercisable shall remain exercisable until the Stock
Appreciation Right expires, is canceled or otherwise terminates.


 


(e)              
Payment upon Exercise. Payment upon exercise of a Stock Appreciation Right may be made in cash, Stock, or property as specified
in the SAR Agreement or determined by the Committee, in each case having a value in respect of each share of Stock underlying the portion
of the Stock Appreciation Right so exercised, equal to the difference between the base price of such Stock Appreciation Right and the
Fair Market Value of one (1) share of Stock on the exercise date. For purposes of clarity, each share of Stock to be issued in settlement
of a Stock Appreciation Right is deemed to have a value equal to the Fair Market Value of one (1) share of Stock on the exercise date.
In no event shall fractional shares be issuable upon the exercise of a Stock Appreciation Right, and in the event that fractional shares
would otherwise be issuable, the number of shares issuable will be rounded down to the next lower whole number of shares, and the Participant
will be entitled to receive a cash payment equal to the value of such fractional share.


 


(f)               
Termination of Employment or Service. Except as provided by the Committee in a SAR Agreement, Participant Agreement or otherwise:


 


(1)          In
the event of a Participant’s Termination prior to the applicable Expiration Date for any reason other than (i) by the Service
Recipient for Cause, or (ii) by reason of the Participant’s death or Disability, (A) all vesting with respect to such
Participant’s Stock Appreciation Rights outstanding shall cease, (B) all of such Participant’s unvested Stock Appreciation
Rights outstanding shall terminate and be forfeited for no consideration as of the date of such Termination, and (C) all of such
Participant’s vested Stock Appreciation Rights outstanding shall terminate and be forfeited for no consideration on the earlier
of (x) the applicable Expiration Date and (y) the date that is ninety (90) days after the date of such Termination.


 






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(2)          In
the event of a Participant’s Termination prior to the applicable Expiration Date by reason of such Participant’s death or
Disability, (i) all vesting with respect to such Participant’s Stock Appreciation Rights outstanding shall cease, (ii) all
of such Participant’s unvested Stock Appreciation Rights outstanding shall terminate and be forfeited for no consideration as of
the date of such Termination, and (iii) all of such Participant’s vested Stock Appreciation Rights outstanding shall terminate
and be forfeited for no consideration on the earlier of (x) the applicable Expiration Date and (y) the date that is twelve
(12) months after the date of such Termination. In the event of a Participant’s death, such Participant’s Stock Appreciation
Rights shall remain exercisable by the Person or Persons to whom such Participant’s rights under the Stock Appreciation Rights
pass by will or by the applicable laws of descent and distribution until the applicable Expiration Date, but only to the extent that
the Stock Appreciation Rights were vested at the time of such Termination.


 


(3)          In
the event of a Participant’s Termination prior to the applicable Expiration Date by the Service Recipient for Cause, all of such
Participant’s Stock Appreciation Rights outstanding (whether or not vested) shall immediately terminate and be forfeited for no
consideration as of the date of such Termination.


 


9.                 
Other Stock-Based Awards.


 


The Committee is authorized,
subject to limitations under applicable law, to grant to Participants such other Awards that may be denominated or payable in, valued
in whole or in part by reference to, or otherwise based upon or related to Stock, as deemed by the Committee to be consistent with the
purposes of the Plan. The Committee may also grant Stock as a bonus (whether or not subject to any vesting requirements or other restrictions
on transfer), and may grant other Awards in lieu of obligations of the Company or an Affiliate to pay cash or deliver other property under
the Plan or under other plans or compensatory arrangements, subject to such terms as shall be determined by the Committee. The terms and
conditions applicable to such Awards shall be determined by the Committee and evidenced by Award Agreements, which agreements need not
be identical.


 


10.             
Adjustment for Recapitalization, Merger, etc.


 


(a)              
Capitalization Adjustments. The aggregate number of shares of Stock that may be delivered in connection with Awards (as
set forth in Section 4 hereof), the numerical share limits in Section 4(a) hereof, the number of shares of Stock covered by
each outstanding Award, and the price per share of Stock underlying each such Award shall be equitably and proportionally adjusted or
substituted, as determined by the Committee, in its sole discretion, as to the number, price, or kind of a share of Stock or other consideration
subject to such Awards (1) in the event of changes in the outstanding Stock or in the capital structure of the Company by reason
of stock dividends, extraordinary cash dividends, stock splits, reverse stock splits, recapitalizations, reorganizations, mergers, amalgamations,
consolidations, combinations, exchanges, or other relevant changes in capitalization occurring after the date of grant of any such Award
(including any Corporate Event); (2) in connection with any extraordinary dividend declared and paid in respect of shares of Stock,
whether payable in the form of cash, stock, or any other form of consideration; or (3) in the event of any change in applicable laws
or circumstances that results in or could result in, in either case, as determined by the Committee in its sole discretion, any substantial
dilution or enlargement of the rights intended to be granted to, or available for, Participants in the Plan.


 






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(b)              
Corporate Events. Notwithstanding the foregoing, except as provided by the Committee in an Award Agreement, Participant
Agreement or otherwise, in connection with (i) a merger, amalgamation, or consolidation involving the Company in which the Company
is not the surviving corporation, (ii) a merger, amalgamation, or consolidation involving the Company in which the Company is the
surviving corporation but the holders of shares of Stock receive securities of another corporation or other property or cash, (iii) a
Change in Control, or (iv) the reorganization, dissolution or liquidation of the Company (each, a “Corporate Event”),
the Committee may provide for any one or more of the following:


 


(1)          The
assumption or substitution of any or all Awards in connection with such Corporate Event, in which case the Awards shall be subject to
the adjustment set forth in Section 10(a) above;


 


(2)          The
acceleration of vesting of any or all Awards not assumed or substituted in connection with such Corporate Event, subject to the consummation
of such Corporate Event;


 


(3)          The
cancellation of any or all Awards not assumed or substituted in connection with such Corporate Event (whether vested or unvested) as
of the consummation of such Corporate Event, together with the payment to the Participants holding vested Awards (including any Awards
that would vest upon the Corporate Event but for such cancellation) so canceled of an amount in respect of cancellation equal to the
amount payable pursuant to any Cash Award or, with respect to other Awards, an amount based upon the per-share consideration being paid
for the Stock in connection with such Corporate Event, less, in the case of Options, Stock Appreciation Rights, and other Awards subject
to exercise, the applicable exercise or base price; provided, however, that holders of Options, Stock Appreciation Rights, and
other Awards subject to exercise shall be entitled to consideration in respect of cancellation of such Awards only if the per-share consideration
less the applicable exercise or base price is greater than zero dollars ($0), and to the extent that the per-share consideration is less
than or equal to the applicable exercise or base price, such Awards shall be canceled for no consideration;


 


(4)          The
cancellation of any or all Options, Stock Appreciation Rights and other Awards subject to exercise not assumed or substituted in connection
with such Corporate Event (whether vested or unvested) as of the consummation of such Corporate Event; provided that all Options,
Stock Appreciation Rights and other Awards to be so canceled pursuant to this paragraph (4) shall first become exercisable for a
period of at least ten (10) days prior to such Corporate Event, with any exercise during such period of any unvested Options, Stock Appreciation
Rights or other Awards to be (A) contingent upon and subject to the occurrence of the Corporate Event, and (B) effectuated
by such means as are approved by the Committee; and


 


(5)          The
replacement of any or all Awards (other than Awards that are intended to qualify as “stock rights” that do not provide for
a “deferral of compensation” within the meaning of Section 409A of the Code) with a cash incentive program that preserves
the value of the Awards so replaced (determined as of the consummation of the Corporate Event), with subsequent payment of cash incentives
subject to the same vesting conditions as applicable to the Awards so replaced and payment to be made within thirty (30) days of the
applicable vesting date.


 






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Payments to holders pursuant to paragraph (3)
above shall be made in cash or, in the sole discretion of the Committee, and to the extent applicable, in the form of such other consideration
necessary for a Participant to receive property, cash, or securities (or a combination thereof) as such Participant would have been entitled
to receive upon the occurrence of the transaction if the Participant had been, immediately prior to such transaction, the holder of the
number of shares of Stock covered by the Award at such time (less any applicable exercise or base price). In addition, in connection with
any Corporate Event, prior to any payment or adjustment contemplated under this Section 10(b), the Committee may require a Participant
to (A) represent and warrant as to the unencumbered title to his or her Awards, (B) bear such Participant’s pro-rata share
of any post-closing indemnity obligations, and be subject to the same post-closing purchase price adjustments, escrow terms, offset rights,
holdback terms, and similar conditions as the other holders of Stock, and (C) deliver customary transfer documentation as reasonably
determined by the Committee. The Committee need not take the same action or actions with respect to all Awards or portions thereof or
with respect to all Participants. The Committee may take different actions with respect to the vested and unvested portions of an Award.


 


(c)              
Fractional Shares. Any adjustment provided under this Section 10 may, in the Committee’s discretion, provide
for the elimination of any fractional share that might otherwise become subject to an Award. No cash settlements shall be made with respect
to fractional shares so eliminated.


 


(d)              
Double-Trigger Vesting. Notwithstanding any other provisions of the Plan, an Award Agreement or Participant Agreement to
the contrary, with respect to any Award that is assumed or substituted in connection with a Change in Control, the vesting, payment, purchase
or distribution of such Award may not be accelerated by reason of the Change in Control for any Participant unless the Participant experiences
an involuntary Termination as a result of the Change in Control. Unless otherwise provided for in an Award Agreement or Participant Agreement,
any Award held by a Participant who experiences an involuntary Termination as a result of a Change in Control shall immediately vest as
of the date of such Termination. For purposes of this Section 10(d), a Participant will be deemed to experience an involuntary Termination
as a result of a Change in Control if the Participant experiences a Termination by the Service Recipient other than for Cause, or otherwise
experiences a Termination under circumstances which entitle the Participant to mandatory severance payment(s) pursuant to applicable law
or, in the case of a non-employee director of the Company, if the non-employee director’s service on the Board terminates in connection
with or as a result of a Change in Control, in each case, at any time beginning on the date of the Change in Control up to and including
the second (2nd) anniversary of the Change in Control.


 






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11.             
Use of Proceeds.


 


The proceeds received from the
sale of Stock pursuant to the Plan shall be used for general corporate purposes.


 


12.             
Rights and Privileges as a Stockholder.


 


Except as otherwise specifically
provided in the Plan, no Person shall be entitled to the rights and privileges of Stock ownership in respect of shares of Stock that are
subject to Awards hereunder until such shares have been issued to that Person.


 


13.             
Transferability of Awards.


 


Awards may not be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the applicable laws of descent and distribution, and
to the extent subject to exercise, Awards may not be exercised during the lifetime of the grantee other than by the grantee. Notwithstanding
the foregoing, except with respect to Incentive Stock Options, Awards and a Participant’s rights under the Plan shall be transferable
for no value to the extent provided in an Award Agreement or otherwise determined at any time by the Committee.


 


14.             
Employment or Service Rights.


 


No individual shall have any
claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be selected for the grant
of any other Award. Neither the Plan nor any action taken hereunder shall be construed as giving any individual any right to be retained
in the employ or service of the Company or an Affiliate of the Company.


 


15.             
Compliance with Laws.


 


The obligation of the Company
to deliver Stock upon issuance, vesting, exercise, or settlement of any Award shall be subject to all applicable laws, rules, and regulations,
and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of any Award to the contrary,
the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from offering to sell or selling, any shares
of Stock pursuant to an Award unless such shares have been properly registered for sale with the U.S. Securities and Exchange Commission
pursuant to the Securities Act (or with a similar non-U.S. regulatory agency pursuant to a similar law or regulation) or unless the Company
has received an opinion of counsel, satisfactory to the Company, that such shares may be offered or sold without such registration pursuant
to an available exemption therefrom and the terms and conditions of such exemption have been fully complied with. The Company shall be
under no obligation to register for sale or resale under the Securities Act any of the shares of Stock to be offered or sold under the
Plan or any shares of Stock to be issued upon exercise or settlement of Awards. If the shares of Stock offered for sale or sold under
the Plan are offered or sold pursuant to an exemption from registration under the Securities Act, the Company may restrict the transfer
of such shares and may legend the Stock certificates representing such shares in such manner as it deems advisable to ensure the availability
of any such exemption.


 






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16.             
Withholding Obligations.


 


As a condition to the issuance,
vesting, exercise, or settlement of any Award (or upon the making of an election under Section 83(b) of the Code), the Committee
may require that a Participant satisfy, through deduction or withholding from any payment of any kind otherwise due to the Participant,
or through such other arrangements as are satisfactory to the Committee, the amount of all federal, state, and local income and other
taxes of any kind required or permitted to be withheld in connection with such issuance, vesting, exercise, or settlement (or election).
The Committee, in its discretion, may permit shares of Stock to be used to satisfy tax withholding requirements, and such shares shall
be valued at their Fair Market Value as of the issuance, vesting, exercise, or settlement date of the Award, as applicable.


 


17.             
Amendment of the Plan or Awards.


 


(a)              
Amendment of Plan. The Board or the Committee may amend the Plan at any time and from time to time.


 


(b)              
Amendment of Awards. The Board or the Committee may amend the terms of any one or more Awards at any time and from time
to time.


 


(c)              
Stockholder Approval; No Material Impairment. Notwithstanding anything herein to the contrary, no amendment to the Plan
or any Award shall be effective without stockholder approval to the extent that such approval is required pursuant to applicable law or
the applicable rules of each national securities exchange on which the Stock is listed. Additionally, no amendment to the Plan or any
Award shall materially impair a Participant’s rights under any Award unless the Participant consents in writing (it being understood
that no action taken by the Board or the Committee that is expressly permitted under the Plan, including, without limitation, any actions
described in Section 10 hereof, shall constitute an amendment to the Plan or an Award for such purpose). Notwithstanding the foregoing,
subject to the limitations of applicable law, if any, and without an affected Participant’s consent, the Board or the Committee
may amend the terms of the Plan or any one or more Awards from time to time as necessary to bring such Awards into compliance with applicable
law, including, without limitation, Section 409A of the Code.


 






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(d)              
No Repricing of Awards Without Stockholder Approval. Notwithstanding Sections 17(a) or 17(b) above, or any other provision
of the Plan, the repricing of Awards shall not be permitted without stockholder approval. For this purpose, a “repricing”
means any of the following (or any other action that has the same effect as any of the following): (1) changing the terms of an Award
to lower its exercise or base price (other than on account of capital adjustments resulting from share splits, etc., as described in Section 10(a)
hereof), (2) any other action that is treated as a repricing under GAAP, and (3) repurchasing for cash or canceling an Award
in exchange for another Award at a time when its exercise or base price is greater than the Fair Market Value of the underlying Stock,
unless the cancellation and exchange occurs in connection with an event set forth in Section 10(b) hereof.


 


18.             
Termination or Suspension of the Plan.


 


The Board or the Committee may
suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate on the day before the tenth (10th)
anniversary of the date the stockholders of the Company originally approved the Plan. No Awards may be granted under the Plan while the
Plan is suspended or after it is terminated; provided, however, that following any suspension or termination of the Plan, the Plan
shall remain in effect for the purpose of governing all Awards then outstanding hereunder until such time as all Awards under the Plan
have been terminated, forfeited, or otherwise canceled, or earned, exercised, settled, or otherwise paid out, in accordance with their
terms.


 


19.             
Effective Date of the Plan.


 


The Plan is effective as of
the Effective Date, subject to stockholder approval.


 


20.             
Miscellaneous.


 


(a)              
Certificates. Stock acquired pursuant to Awards granted under the Plan may be evidenced in such a manner as the Committee
shall determine. If certificates representing Stock are registered in the name of the Participant, the Committee may require that (1) such
certificates bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Stock, (2) the Company
retain physical possession of the certificates, and (3) the Participant deliver a stock power to the Company, endorsed in blank,
relating to the Stock. Notwithstanding the foregoing, the Committee may determine, in its sole discretion, that the Stock shall be held
in book-entry form rather than delivered to the Participant pending the release of any applicable restrictions.


 


(b)              
Other Benefits. No Award granted or paid out under the Plan shall be deemed compensation for purposes of computing benefits
under any retirement plan of the Company or its Affiliates nor affect any benefits under any other benefit plan now or subsequently in
effect under which the availability or amount of benefits is related to the level of compensation.


 






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(c)              
Corporate Action Constituting Grant of Awards. Corporate action constituting a grant by the Company of an Award to any Participant
will be deemed completed as of the date of such corporate action, unless otherwise determined by the Committee, regardless of when the
instrument, certificate, or letter evidencing the Award is communicated to, or actually received or accepted by, the Participant. In the
event that the corporate records (e.g., Committee consents, resolutions or minutes) documenting the corporate action
constituting the grant contain terms (e.g., exercise price, vesting schedule or number of shares of Stock) that are inconsistent
with those in the Award Agreement as a result of a clerical error in connection with the preparation of the Award Agreement, the corporate
records will control and the Participant will have no legally binding right to the incorrect term in the Award Agreement.


 


(d)              
Clawback/Recoupment Policy. Notwithstanding anything contained herein to the contrary, all Awards granted under the Plan
shall be and remain subject to any incentive compensation clawback or recoupment policy currently in effect or as may be adopted by the
Board (or a committee or subcommittee of the Board) and, in each case, as may be amended from time to time. No such policy adoption or
amendment shall in any event require the prior consent of any Participant. No recovery of compensation under such a clawback policy will
be an event giving rise to a right to resign for “good reason” or “constructive termination” (or similar term)
under any agreement with the Company or any of its Affiliates. In the event that an Award is subject to more than one such policy, the
policy with the most restrictive clawback or recoupment provisions shall govern such Award, subject to applicable law.


 


(e)              
Non-Exempt Employees. If an Option is granted to an employee of the Company or any of its Affiliates in the United States
who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, the Option will not be first exercisable
for any shares of Stock until at least six (6) months following the date of grant of the Option (although the Option may vest prior
to such date). Consistent with the provisions of the Worker Economic Opportunity Act, (1) if such employee dies or suffers a Disability,
(2) upon a Corporate Event in which such Option is not assumed, continued, or substituted, (3) upon a Change in Control, or
(4) upon the Participant’s retirement (as such term may be defined in the applicable Award Agreement or a Participant Agreement,
or, if no such definition exists, in accordance with the Company’s then current employment policies and guidelines), the vested
portion of any Options held by such employee may be exercised earlier than six (6) months following the date of grant. The foregoing
provision is intended to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an
Option will be exempt from his or her regular rate of pay. To the extent permitted and/or required for compliance with the Worker Economic
Opportunity Act to ensure that any income derived by a non-exempt employee in connection with the exercise, vesting or issuance of any
shares under any other Award will be exempt from such employee’s regular rate of pay, the provisions of this Section 20(e)will
apply to all Awards.


 






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(f)               
Data Privacy. As a condition of receipt of any Award, each Participant explicitly and unambiguously consents to the collection,
use, and transfer, in electronic or other form, of personal data as described in this Section 20(e) by and among, as applicable,
the Company and its Affiliates for the exclusive purpose of implementing, administering, and managing the Plan and Awards and the Participant’s
participation in the Plan. In furtherance of such implementation, administration, and management, the Company and its Affiliates may hold
certain personal information about a Participant, including, but not limited to, the Participant’s name, home address, telephone
number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), information
regarding any securities of the Company or any of its Affiliates, and details of all Awards (the “Data”). In addition
to transferring the Data amongst themselves as necessary for the purpose of implementation, administration, and management of the Plan
and Awards and the Participant’s participation in the Plan, the Company and its Affiliates may each transfer the Data to any third
parties assisting the Company in the implementation, administration, and management of the Plan and Awards and the Participant’s
participation in the Plan. Recipients of the Data may be located in the Participant’s country or elsewhere, and the Participant’s
country and any given recipient’s country may have different data privacy laws and protections. By accepting an Award, each Participant
authorizes such recipients to receive, possess, use, retain, and transfer the Data, in electronic or other form, for the purposes of assisting
the Company in the implementation, administration, and management of the Plan and Awards and the Participant’s participation in
the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Company or the
Participant may elect to deposit any shares of Stock. The Data related to a Participant will be held only as long as is necessary to implement,
administer, and manage the Plan and Awards and the Participant’s participation in the Plan. A Participant may, at any time, view
the Data held by the Company with respect to such Participant, request additional information about the storage and processing of the
Data with respect to such Participant, recommend any necessary corrections to the Data with respect to the Participant, or refuse or withdraw
the consents herein in writing, in any case without cost, by contacting his or her local human resources representative. The Company may
cancel the Participant’s eligibility to participate in the Plan, and in the Committee’s discretion, the Participant may forfeit
any outstanding Awards if the Participant refuses or withdraws the consents described herein. For more information on the consequences
of refusal to consent or withdrawal of consent, Participants may contact their local human resources representative.


 


(g)              
Participants Outside of the United States. The Committee may modify the terms of any Award under the Plan made to or held
by a Participant who is then a resident, or is primarily employed or providing services, outside of the United States in any manner deemed
by the Committee to be necessary or appropriate in order that such Award shall conform to laws, regulations, and customs of the country
in which the Participant is then a resident or primarily employed or providing services, or so that the value and other benefits of the
Award to the Participant, as affected by non–U.S. tax laws and other restrictions applicable as a result of the Participant’s
residence, employment, or providing services abroad, shall be comparable to the value of such Award to a Participant who is a resident,
or is primarily employed or providing services, in the United States. An Award may be modified under this Section 20(g) in a manner
that is inconsistent with the express terms of the Plan, so long as such modifications will not contravene any applicable law or regulation
or result in actual liability under Section 16(b) of the Exchange Act for the Participant whose Award is modified. Additionally,
the Committee may adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Eligible
Persons who are non–U.S. nationals or are primarily employed or providing services outside the United States.


 






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(h)              
Change in Time Commitment. In the event a Participant’s regular level of time commitment in the performance of his
or her services for the Company or any of its Affiliates is reduced (for example, and without limitation, if the Participant is an employee
of the Company and the employee has a change in status from a full-time employee to a part-time employee) after the date of grant of any
Award to the Participant, the Committee has the right in its sole discretion to (i) make a corresponding reduction in the number
of shares of Stock subject to any portion of such Award that is scheduled to vest or become payable after the date of such change in time
commitment, and (ii) in lieu of or in combination with such a reduction, extend the vesting or payment schedule applicable to such
Award. In the event of any such reduction, the Participant will have no right with respect to any portion of the Award that is so reduced
or extended.


 


(i)                
No Liability of Committee Members. Neither any member of the Committee nor any of the Committee’s permitted delegates
shall be liable personally by reason of any contract or other instrument executed by such member or on his or her behalf in his or her
capacity as a member of the Committee or for any mistake of judgment made in good faith, and the Company shall indemnify and hold harmless
each member of the Committee and each other employee, officer, or director of the Company to whom any duty or power relating to the administration
or interpretation of the Plan may be allocated or delegated, against all costs and expenses (including counsel fees) and liabilities (including
sums paid in settlement of a claim) arising out of any act or omission to act in connection with the Plan, unless arising out of such
Person’s own fraud or willful misconduct; provided, however, that approval of the Board shall be required for the payment
of any amount in settlement of a claim against any such Person. The foregoing right of indemnification shall not be exclusive of any other
rights of indemnification to which such Persons may be entitled under the Company’s certificate or articles of incorporation or
by-laws, each as may be amended from time to time, as a matter of law, or otherwise, or any power that the Company may have to indemnify
them or hold them harmless.


 


(j)                
Payments Following Accidents or Illness. If the Committee shall find that any Person to whom any amount is payable under
the Plan is unable to care for his or her affairs because of illness or accident, or is a minor, or has died, then any payment due to
such Person or his or her estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Committee
so directs the Company, be paid to his or her spouse, child, relative, an institution maintaining or having custody of such Person, or
any other Person deemed by the Committee to be a proper recipient on behalf of such Person otherwise entitled to payment. Any such payment
shall be a complete discharge of the liability of the Committee and the Company therefor.


 






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(k)              
Governing Law. The Plan shall be governed by and construed in accordance with the laws of State of Delaware without reference
to the principles of conflicts of laws thereof.


 


(l)           Electronic
Delivery. Any reference herein to a “written” agreement or document or “writing” will include any agreement
or document delivered electronically or posted on the Company’s intranet (or other shared electronic medium controlled or authorized
by the Company to which the Participant has access) to the extent permitted by applicable law.


 


(m)            
Arbitration. All disputes and claims of any nature that a Participant (or such Participant’s transferee or estate)
may have against the Company arising out of or in any way related to the Plan or any Award Agreement shall be submitted to and resolved
exclusively by binding arbitration conducted in New York City, New York (or such other location as the parties thereto may agree) in accordance
with the applicable rules of the American Arbitration Association then in effect, and the arbitration shall be heard and determined by
a panel of three arbitrators in accordance with such rules (except that in the event of any inconsistency between such rules and this
Section 20(m), the provisions of this Section 20(m) shall control). The arbitration panel may not modify the arbitration rules specified
above without the prior written approval of all parties to the arbitration. Within ten business days after the receipt of a written demand,
each party shall designate one arbitrator, each of whom shall have experience involving complex business or legal matters, but shall not
have any prior, existing or potential material business relationship with any party to the arbitration. The two arbitrators so designated
shall select a third arbitrator, who shall preside over the arbitration, shall be similarly qualified as the two arbitrators and shall
have no prior, existing or potential material business relationship with any party to the arbitration; provided that if the two
arbitrators are unable to agree upon the selection of such third arbitrator, such third arbitrator shall be designated in accordance with
the arbitration rules referred to above. The arbitrators will decide the dispute by majority decision, and the decision shall be rendered
in writing and shall bear the signatures of the arbitrators and the party or parties who shall be charged therewith, or the allocation
of the expenses among the parties in the discretion of the panel. The arbitration decision shall be rendered as soon as possible, but
in any event not later than 120 days after the constitution of the arbitration panel. The arbitration decision shall be final and binding
upon all parties to the arbitration. The parties hereto agree that judgment upon any award rendered by the arbitration panel may be entered
in the United States District Court for the Southern District of New York or any New York State court sitting in New York City. To the
maximum extent permitted by law, the parties hereby irrevocably waive any right of appeal from any judgment rendered upon any such arbitration
award in any such court. Notwithstanding the foregoing, any party may seek injunctive relief in any such court.


 


(n)              
Statute of Limitations. A Participant or any other person filing a claim for benefits under the Plan must file the claim
within one (1) year of the date the Participant or other person knew or should have known of the facts giving rise to the claim.
This one-year statute of limitations will apply in any forum where a Participant or any other person may file a claim and, unless the
Company waives the time limits set forth above in its sole discretion, any claim not brought within the time periods specified shall be
waived and forever barred.


 






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(o)              
Funding. No provision of the Plan shall require the Company, for the purpose of satisfying any obligations under the Plan,
to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets,
nor shall the Company be required to maintain separate bank accounts, books, records, or other evidence of the existence of a segregated
or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan other than as unsecured
general creditors of the Company, except that insofar as they may have become entitled to payment of additional compensation by performance
of services, they shall have the same rights as other employees and service providers under general law.


 


(p)              
Reliance on Reports. Each member of the Committee and each member of the Board shall be fully justified in relying, acting,
or failing to act, and shall not be liable for having so relied, acted, or failed to act in good faith, upon any report made by the independent
public accountant of the Company and its Affiliates and upon any other information furnished in connection with the Plan by any Person
or Persons other than such member.


 


(q)              
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.


 


*             *           *





 


Adopted
by the Board of Directors: October 14, 2019

Approved by the Stockholders: November 7, 2019

Termination Date: November 6, 2029





 



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