Exhibit
10.1


 


GLUCOSE
BIOSENSOR SYSTEMS (GREATER CHINA) HOLDINGS, INC.


 


2019
Long Term Incentive Plan


 


Section
1. Purpose; Definitions.


 


1.1.
Purpose. The purpose of the Plan is to enable the Company to offer to employees, officers and directors of and consultants
to the Company and its Subsidiaries and Affiliates whose past, present and/or potential future contributions to the Company and
its Subsidiaries have been, are or will be important to the success of the Company, an opportunity to share monetarily in the
success of and/or acquire a proprietary interest in the Company. The various types of long-term incentive awards that may be provided
under the Plan will enable the Company to respond to changes in compensation practices, tax laws, accounting regulations and the
size and diversity of its businesses.


 


1.2.
Definitions. For purposes of the Plan, the following terms shall be defined as set forth below:


 


(a)
“Affiliate” means a corporation, limited liability company or other entity that controls, is controlled by, or is
under common control with the Company and designated by the Committee from time to time as such.


 


(b)
“Agreement” means the agreement between the Company and the Holder, or such other document as may be determined by
the Committee, setting forth the terms and conditions of an award under the Plan.


 


(c)
“Asset Sale” means an acquisition by any one person, or more than one person acting as a group, together with acquisitions
during the 12-month period ending on the date of the most recent acquisition by such person or persons, of assets from the Company
that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets
of the Company immediately before such acquisition or acquisitions. For this purpose, gross fair market value means the value
of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated
with such assets.


 


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


 


(e)
“Change of Control” means a transaction in which any one person, or more than one person acting as a group, acquires
the ownership of stock of the Company that, together with the stock held by such person or group, constitutes more than 50% of
the total fair market value or combined voting power of the stock of the Company. A Change in Control caused by an increase in
the percentage of stock owned by any one person, or persons acting as a group, as a result of a transaction in which the Company
acquires its stock in exchange for property is not treated as a Change of Control for purposes of the Plan.


 


(f)
“Code” means the Internal Revenue Code of 1986, as amended from time to time.


 


(g)
“Committee” means the committee of the Board designated to administer the Plan as provided in Section 2.1. If no Committee
is so designated, then all references in this Plan to “Committee” shall mean the Board.


 




    	 	 	 



    	 



    


 


(h)
“Common Stock” means the Common Stock of the Company, par value $0.01 per share.


 


(i)
“Company” means Glucose Biosensor Systems (Greater China) Holdings, Inc., a corporation organized under the laws of
the State of Delaware.


 


(j)
“Disability” means physical or mental impairment as determined under procedures established by the Committee for purposes
of the Plan.


 


(k)
“Effective Date” means the date determined pursuant to Section 12.1.


 


(l)
“Fair Market Value,” unless otherwise required by any applicable provision of the Code or any regulations issued thereunder,
means, as of any given date: (i) if the Common Stock is listed on a national securities exchange or is traded over-the-counter
and last sale information is available, unless otherwise determined by the Committee, the last sale price of the Common Stock
in the principal trading market for the Common Stock on such date, as reported by the exchange or by such source that the Committee
deems reliable, as the case may be; or (ii) if the fair market value of the Common Stock cannot be determined pursuant to clause
(i), such price as the Committee shall determine, in good faith.


 


(m)
“Holder” means a person who has received an award under the Plan.


 


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


 


(o)
“Non-qualified Stock Option” means any Stock Option that is not an Incentive Stock Option.


 


(p)
“Normal Retirement” means retirement from active employment with the Company or any Subsidiary on or after such age
which may be designated by the Committee as “retirement age” for any particular Holder. If no age is designated, it
shall be 65.


 


(q)
“Other Stock-Based Award” means an award under Section 8 that is valued in whole or in part by reference to, or is
otherwise based upon, Common Stock.


 


(r)
“Parent” means any present or future “parent corporation” of the Company, as such term is defined in Section
424(e) of the Code.


 


(s)
“Plan” means the Company’s 2019 Long Term Incentive Plan, as hereinafter amended from time to time.


 


(t)
“Repurchase Value” shall mean the Fair Market Value if the award to be settled under Section 2.2(e) or repurchased
under Section 5.2(l) is comprised of shares of Common Stock and the difference between Fair Market Value and the exercise price
(if lower than Fair Market Value) if the award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the
number of shares subject to the award. “Repurchase Value” if the award to be repurchased under Section 9.2 is comprised
of shares of Common Stock shall mean the greater of the Fair Market Value or the value of such award based upon the price per
share of Common Stock received or to be received by other shareholders of the Company in the event. “Repurchase Value”
if the award to be repurchased under Section 9.2 is comprised of Stock Options or Stock Appreciation Rights shall mean the difference
between the greater of (1) the Fair Market Value or the value of such award based upon the price per share of Common Stock received
or to be received by other shareholders of the Company in the event and (2) the exercise price (if lower), multiplied by the number
of shares subject to the award.


 




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(u)
“Restriction Period” means the time or times within which awards may be subject to forfeiture, including upon termination
of employment or failure of performance conditions.


 


(v)
“Restricted Stock” means Common Stock received under an award made pursuant to Section 7 that is subject to restrictions
under Section 7.


 


(w)
“Restricted Stock Unit” means an unfunded, unsecured right to receive, on the applicable settlement date, one share
or an amount in cash or other consideration determined by the Committee to be of equal value as of such settlement date, subject
to certain vesting conditions and other restrictions.


 


(x)
“SAR Value” means the excess of the Fair Market Value (on the exercise date) over (a) the exercise price that the
participant would have otherwise had to pay to exercise the related Stock Option or (b) if a Stock Appreciation Right is granted
unrelated to a Stock Option, the Fair Market Value of a share of Common Stock on the date of grant of the Stock Appreciation Right,
in either case, multiplied by the number of shares for which the Stock Appreciation Right is exercised.


 


(y)
“Stock Appreciation Right” means the right to receive from the Company, without a cash payment to the Company, either
a number of shares of Common Stock equal to the SAR Value divided by the Fair Market Value (on the exercise date) or, at the Company’s
election, cash in the amount of the SAR Value.


 


(z)
“Stock Option” or “Option” means any option to purchase shares of Common Stock which is granted pursuant
to the Plan.


 


(aa)
“Subsidiary” means any present or future “subsidiary corporation” of the Company, as such term is defined
in Section 424(f) of the Code.


 


(bb)
“Vest” means to become exercisable or to otherwise obtain ownership rights in an award.


 


Section
2. Administration.


 


2.1.
Committee Membership. The Plan shall be administered by the Board or a Committee. If administered by a Committee, such
Committee shall be composed of at least two directors, all of whom are “non-employee” directors within the meaning
of Rule 16b-3 under the Securities Exchange Act of 1934, as amended. Committee members shall serve for such term as the Board
may in each case determine and shall be subject to removal at any time by the Board.


 


2.2.
Powers of Committee. The Committee shall have full authority to award, pursuant to the terms of the Plan: (i) Stock Options,
(ii) Stock Appreciation Rights, (iii) Restricted Stock, (iv) Restricted Stock Units, and/or (v) Other Stock-Based Awards. For
purposes of illustration and not of limitation, the Committee shall have the authority (subject to the express provisions of this
Plan):


 




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(a)
to select the officers, employees, directors and consultants of the Company or any Subsidiary to whom Stock Options, Stock Appreciation
Rights, Restricted Stock, Restricted Stock Units and/or Other Stock-Based Awards may from time to time be awarded hereunder;


 


(b)
to determine the terms and conditions, not inconsistent with the terms of the Plan, of any award granted hereunder (including,
but not limited to, number of shares, share exercise price or types of consideration paid upon exercise of such options, such
as other securities of the Company or other property, any restrictions or limitations, and any vesting, exchange, surrender, cancellation,
acceleration, termination, exercise or forfeiture provisions, as the Committee shall determine);


 


(c)
to determine any specified performance goals or such other factors or criteria which need to be attained for the vesting of an
award granted hereunder;


 


(d)
to determine the terms and conditions under which awards granted hereunder are to operate on a tandem basis and/or in conjunction
with or apart from other awards under this Plan and cash and non-cash awards made by the Company or any Subsidiary or Affiliate
outside of this Plan; and


 


(e)
to make payments and distributions with respect to awards (i.e., to “settle” awards) through cash payments
in an amount equal to the Repurchase Value.


 


The
Committee may not modify or amend any outstanding Option or Stock Appreciation Right to reduce the exercise price of such Option
or Stock Appreciation Right, as applicable, below the exercise price as of the date of grant of such Option or Stock Appreciation
Right. In addition, no payment of cash or other property having a value greater than the Repurchase Value may be made, and no
Option or Stock Appreciation Right with a lower exercise price may be granted, in exchange for, or in connection with, the cancellation
or surrender of an Option or Stock Appreciation Right.


 


Notwithstanding
anything to the contrary, the Committee shall not grant to any non-employee directors awards covering more than 20,000
shares of Common Stock in any year.


 


2.3.
Interpretation of Plan. Subject to Section 10, the Committee shall have the authority to adopt, alter and repeal such administrative
rules, guidelines and practices governing the Plan as it shall from time to time deem advisable, to interpret the terms and provisions
of the Plan and any award issued under the Plan (and to determine the form and substance of all Agreements relating thereto),
and to otherwise supervise the administration of the Plan. Subject to Section 11, all decisions made by the Committee pursuant
to the provisions of the Plan shall be made in the Committee’s sole discretion and shall be final and binding upon all persons,
including the Company and its Subsidiaries and Affiliates and the Holders.


 




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Section
3. Stock Subject to Plan.


 


3.1.
Number of Shares. The total number of shares of Common Stock reserved and available for issuance under the Plan shall
be up to 500,000 shares. Shares of Common Stock under the Plan (“Shares”) may consist, in whole or in part, of authorized
and unissued shares or treasury shares. If any shares of Common Stock that have been granted pursuant to a Stock Option cease
to be subject to a Stock Option, or if any shares of Common Stock that are subject to any Stock Appreciation Right, Restricted
Stock award, Restricted Stock Units or Other Stock-Based Award granted hereunder are forfeited, or any such award otherwise terminates
without a payment being made to the Holder in the form of Common Stock, such shares shall again be available for distribution
in connection with future grants and awards under the Plan. Shares of Common Stock that are surrendered by a Holder or withheld
by the Company as full or partial payment in connection with any award under the Plan, as well as any shares of Common Stock surrendered
by a Holder or withheld by the Company or one of its Subsidiaries to satisfy the tax withholding obligations related to any award
under the Plan, shall not be available for subsequent awards under the Plan.


 


3.2.
Adjustment Upon Changes in Capitalization, Etc. In the event of any common stock dividend payable on shares of Common Stock,
Common Stock split or reverse split, combination or exchange of shares of Common Stock, or other extraordinary or unusual event
which results in a change in the shares of Common Stock of the Company as a whole, the Committee shall determine, in its sole
discretion, whether such change equitably requires an adjustment in the terms of any award in order to prevent dilution or enlargement
of the benefits available under the Plan (including number of shares subject to the award and the exercise price) or the aggregate
number of shares reserved for issuance under the Plan. Any such adjustments will be made by the Committee, whose determination
will be final, binding and conclusive.


 


3.3.
Administrative Stand Still. In the event of any changes in capitalization described above
in Section 3.2, or any other extraordinary transaction or change affecting the shares or the share price of Common Stock, including
any equity restructuring or any securities offering or other similar transaction, for administrative convenience, the Committee
may refuse to permit the exercise of any award for up to sixty days before and/or after such transaction; provided, however, that
the Committee may not refuse to permit the exercise of any award during the last five trading days prior to the expiration of
such award.


 


3.4.
Substitute Awards. In connection with an entity’s merger or consolidation with the Company or any Subsidiary or the
Company’s or any Subsidiary’s acquisition of an entity’s property or stock, the Committee may grant awards in
substitution for any options or other stock or stock-based awards granted before such merger or consolidation by such entity or
its affiliate. Substitute awards may be granted on such terms as the Committee deems appropriate, notwithstanding limitations
on awards in the Plan. Substitute awards will not count against the plan limit, except that shares acquired by exercise of substitute
Incentive Stock Options will count against the maximum number of shares that may be issued pursuant to the exercise of Incentive
Stock Options under the Plan.


 


Section
4. Eligibility.


 


Awards
may be made or granted to employees, officers, directors and consultants of the Company or its Subsidiaries who are deemed to
have rendered or to be able to render significant services to the Company or its Subsidiaries or Affiliates and who are deemed
to have contributed or to have the potential to contribute to the success of the Company and which recipients are qualified to
receive options under the regulations governing Form S-8 registration statements under the Securities Act of 1933, as amended
(“Securities Act”). No Incentive Stock Option shall be granted to any person who is not an employee of the Company
or its Parent or one of its Subsidiaries (including any non-employee directors) at the time of grant or so qualified as set forth
in the immediately preceding sentence. Notwithstanding anything to the contrary, an award may also be made or granted to a person
in connection with his hiring or retention, or at any time on or after the date he reaches an agreement (oral or written) with
the Company or its Subsidiaries or Parent with respect to such hiring or retention, even though it may be prior to the date the
person first performs services for the Company or its Subsidiaries; provided, however, that no portion of any such award shall
vest prior to the date the person first performs such services and the date of grant shall be deemed to be the date hiring or
retention commences.


 




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Section
5. Stock Options.


 


5.1.
Grant and Exercise. Stock Options granted under the Plan may be of two types: (i) Incentive Stock Options and (ii) Non-qualified
Stock Options. Any Stock Option granted under the Plan shall contain such terms, not inconsistent with this Plan, or with respect
to Incentive Stock Options, not inconsistent with the Plan and the Code, as the Committee may from time to time approve. The Committee
shall have the authority to grant Incentive Stock Options or Non-qualified Stock Options, or both types of Stock Options which
may be granted alone or in addition to other awards granted under the Plan.


 


5.2.
Terms and Conditions. Stock Options granted under the Plan shall be subject to the following terms and conditions:


 


(a)
Option Term. The term of each Stock Option shall be fixed by the Committee; provided, however, that no Stock Option may
be exercisable after the expiration of ten years from the date of grant; provided, further, that no Incentive Stock Option granted
to a person who, at the time of grant, owns stock possessing more than 10% of the total combined voting power of all classes of
voting stock of the Company (“10% Shareholder”) may be exercisable after the expiration of five years from the date
of grant.


 


(b)
Exercise Price. The exercise price per share of Common Stock purchasable under a Stock Option shall be determined by the
Committee at the time of grant; provided, however, that the exercise price of a Stock Option may not be less than 100% of the
Fair Market Value on the date of grant or, if greater, the par value of a share of Common Stock; provided, further, that the exercise
price of an Incentive Stock Option granted to a 10% Shareholder may not be less than 110% of the Fair Market Value on the date
of grant.


 


(c)
Exercisability. Stock Options shall be exercisable at such time or times and subject to such terms and conditions as shall
be determined by the Committee. The Committee intends generally to provide that Stock Options be exercisable only in installments,
i.e., that they vest over time, typically over a three-year period. The Committee may waive such installment exercise provisions
at any time at or after the time of grant in whole or in part, based upon such factors as the Committee determines.


 


(d)
Method of Exercise. Subject to whatever installment, exercise and waiting period provisions are applicable in a particular
case, Stock Options may be exercised in whole or in part at any time during the term of the Option by giving written notice of
exercise to the Company specifying the number of shares of Common Stock to be purchased. Such notice shall be accompanied by payment
in full of the purchase price, which shall be in cash or, if provided in the Agreement, either in shares of Common Stock (including
Restricted Stock and other contingent awards under this Plan) or partly in cash and partly in such Common Stock, or such other
means which the Committee determines are consistent with the Plan’s purpose and applicable law. Cash payments shall be made
by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; provided, however,
that the Company shall not be required to deliver certificates for shares of Common Stock with respect to which an Option is exercised
until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof (except that,
in the case of an exercise arrangement approved by the Committee and described in the next sentence of this section, payment may
be made as soon as practicable after the exercise). The Committee may permit a Holder to elect to pay the exercise price upon
the exercise of a Stock Option by irrevocably authorizing a third party to sell shares of Common Stock (or a sufficient portion
of the shares) acquired upon exercise of the Stock Option and remit to the Company a sufficient portion of the sale proceeds to
pay the entire exercise price and any tax withholding resulting from such exercise. The Committee may also authorize other means
for paying the exercise price of a Stock Option, including using the value of the Stock Option (as determined by the difference
in the Fair Market Value of the Common Stock and the exercise price of the Stock Option or other means determined by the Committee).


 




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(e)
Stock Payments. Payments in the form of Common Stock shall be valued at the Fair Market Value on the date of exercise.
Such payments shall be made by delivery of stock certificates in negotiable form that are effective to transfer good and valid
title thereto to the Company, free of any liens or encumbrances.


 


(f)
Transferability. Except as may be set forth in the next sentence of this Section or in the Agreement, no Stock Option shall
be transferable by the Holder other than by will or by the laws of descent and distribution, and all Stock Options shall be exercisable,
during the Holder’s lifetime, only by the Holder (or, to the extent of legal incapacity or incompetency, the Holder’s
guardian or legal representative). Notwithstanding the foregoing, a Holder, with the approval of the Committee, may transfer a
Non-Qualified Stock Option (i) (A) by gift, for no consideration, or (B) pursuant to a domestic relations order, in either case,
to or for the benefit of the Holder’s “Immediate Family” (as defined below), or (ii) to an entity in which the
Holder and/or members of Holder’s Immediate Family own more than fifty percent of the voting interest, subject to such limits
as the Committee may establish and the execution of such documents as the Committee may require, and the transferee shall remain
subject to all the terms and conditions applicable to the Non-Qualified Stock Option prior to such transfer. The term “Immediate
Family” shall mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece,
nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships,
any person sharing the Holder’s household (other than a tenant or employee), a trust in which these persons have more than
fifty percent beneficial interest, and a foundation in which these persons (or the Holder) control the management of the assets.
The Committee may, in its sole discretion, permit transfer of an Incentive Stock Option in a manner consistent with applicable
tax and securities law upon the Holder’s request.


 


(g)
Termination by Reason of Death. If a Holder’s employment by, or association with, the Company or its Subsidiary or
Affiliate terminates by reason of death, any Stock Option held by such Holder, unless otherwise determined by the Committee and
set forth in the Agreement, shall thereupon automatically terminate, except that the portion of such Stock Option that has vested
on the date of death may thereafter be exercised by the legal representative of the estate or by the legatee of the Holder under
the will of the Holder, for a period of one year (or such other greater or lesser period as the Committee may specify in the Agreement)
from the date of such death or until the expiration of the stated term of such Stock Option, whichever period is shorter.


 




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(h)
Termination by Reason of Disability. If a Holder’s employment by, or association with, the Company or its Subsidiary
or Affiliate terminates by reason of Disability, any Stock Option held by such Holder, unless otherwise determined by the Committee
and set forth in the Agreement, shall thereupon automatically terminate, except that the portion of such Stock Option that has
vested on the date of termination may thereafter be exercised by the Holder for a period of one year (or such other greater or
lesser period as the Committee may specify in the Agreement) from the date of such termination or until the expiration of the
stated term of such Stock Option, whichever period is shorter.


 


(i)
Termination by Reason of Normal Retirement. Subject to the provisions of Section 12.3, if such Holder’s employment
by, or association with, the Company or its Subsidiary or Affiliate terminates due to Normal Retirement, any Stock Option held
by such Holder, unless otherwise determined by the Committee and set forth in the Agreement, shall thereupon automatically terminate,
except that the portion of such Stock Option that has vested on the date of termination may thereafter be exercised by the Holder
for a period of one year in the case of a Non-Qualified Stock Option or three months in the case of an Incentive Stock Option
(or such other greater or lesser period as the Committee may specify in the Agreement) from the date of such termination or until
the expiration of the stated term of such Stock Option, whichever period is shorter.


 


(j)
Other Termination. Subject to the provisions of Section 12.3, if such Holder’s employment by, or association with,
the Company or its Subsidiary or Affiliate terminates for any reason other than death, Disability or Normal Retirement, any Stock
Option held by such Holder, unless otherwise determined by the Committee and set forth in the Agreement, shall thereupon automatically
terminate, except that, if the Holder’s employment is terminated by the Company or its Subsidiary or Affiliate without cause,
the portion of such Stock Option that has vested on the date of termination may thereafter be exercised by the Holder for a period
of three months (or such other greater or lesser period as the Committee may specify in the Agreement) from the date of such termination
or until the expiration of the stated term of such Stock Option, whichever period is shorter.


 


(k)
Incentive Stock Options. The aggregate Fair Market Value (on the date of grant of the Stock Option) of shares of Common
Stock with respect to which Incentive Stock Options become exercisable for the first time by a Holder during any calendar year
(under all such plans of the Company and its Subsidiaries and Affiliates) shall not exceed $100,000. To the extent that any Stock
Option intended to qualify as an Incentive Stock Option does not so qualify, including by reason of the immediately preceding
sentence, it shall constitute a separate Non-qualified Stock Option. The Company shall have no liability to any Holder or any
other person if a Stock Option designated as an Incentive Stock Option fails to qualify as such at any time or if a Stock Option
is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code and
the terms of such Stock Option do not satisfy the requirements of Section 409A of the Code.


 


(l)
Buyout and Settlement Provisions. The Committee may at any time, in its sole discretion, offer to repurchase a Stock Option
previously granted, at a purchase price not to exceed the Repurchase Value, based upon such terms and conditions as the Committee
shall establish and communicate to the Holder at the time that such offer is made.


 


(m)
Rights as Shareholder. A Holder shall have none of the rights of a Shareholder with respect to the shares subject to the
Option until such shares shall be transferred to the Holder upon the exercise of the Option.


 




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Section
6. Stock Appreciation Rights.


 


6.1.
Grant and Exercise. Subject to the terms and conditions of the Plan, the Committee may grant Stock Appreciation Rights
in tandem with an Option or alone and unrelated to an Option. The Committee may grant Stock Appreciation Rights to participants
who have been or are being granted Stock Options under the Plan as a means of allowing such participants to exercise their Stock
Options without the need to pay the exercise price in cash. In the case of a Non-qualified Stock Option, a Stock Appreciation
Right may be granted either at or after the time of the grant of such Non-qualified Stock Option. In the case of an Incentive
Stock Option, a Stock Appreciation Right may be granted only at the time of the grant of such Incentive Stock Option.


 


6.2.
Terms and Conditions. Stock Appreciation Rights shall be subject to the following terms and conditions:


 


(a)
Exercisability. Stock Appreciation Rights shall be exercisable as shall be determined by the Committee and set forth in
the Agreement, subject, for Stock Appreciation Rights granted in tandem with an Incentive Stock Option, to the limitations, if
any, imposed by the Code with respect to related Incentive Stock Options.


 


(b)
Termination. All or a portion of a Stock Appreciation Right granted in tandem with a Stock Option shall terminate and shall
no longer be exercisable upon the termination or after the exercise of the applicable portion of the related Stock Option.


 


(c)
Method of Exercise. Stock Appreciation Rights shall be exercisable upon such terms and conditions as shall be determined
by the Committee and set forth in the Agreement and, for Stock Appreciation Rights granted in tandem with a Stock Option, by surrendering
the applicable portion of the related Stock Option. Upon exercise of all or a portion of a Stock Appreciation Right and, if applicable,
surrender of the applicable portion of the related Stock Option, the Holder shall be entitled to receive a number of shares of
Common Stock equal to the SAR Value divided by the Fair Market Value on the date the Stock Appreciation Right is exercised or,
at the Company’s election, cash for the value so calculated.


 


(d)
Shares Available Under Plan. The granting of a Stock Appreciation Right in tandem with a Stock Option shall not affect
the number of shares of Common Stock available for awards under the Plan. The number of shares available for awards under the
Plan will, however, be reduced by the number of shares of Common Stock acquirable upon exercise of the Stock Option to which such
Stock Appreciation Right relates.


 


Section
7. Restricted Stock; Restricted Stock Units.


 


7.1.
Grant. The Committee may award shares of Restricted Stock. In addition, the Committee may award Restricted Stock Units.
The Committee shall determine the eligible persons to whom, and the time or times at which, grants of Restricted Stock or Restricted
Stock Units will be awarded, the number of shares to be awarded, the price (if any) to be paid by the Holder, any Restriction
Period, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of the awards.


 


7.2.
Restricted Stock Terms and Conditions. Each Restricted Stock award shall be subject to the following terms and conditions:


 




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(a)
Certificates. Restricted Stock, when issued, will be represented by a stock certificate or certificates registered in the
name of the Holder to whom such Restricted Stock shall have been awarded. During the Restriction Period, certificates representing
the Restricted Stock and any securities constituting Retained Distributions (as defined below) shall bear a legend to the effect
that ownership of the Restricted Stock (and such Retained Distributions) and the enjoyment of all rights appurtenant thereto are
subject to the restrictions, terms and conditions provided in the Plan and the Agreement. Such certificates shall be deposited
by the Holder with the Company, together with stock powers or other instruments of assignment, each endorsed in blank, which will
permit transfer to the Company of all or any portion of the Restricted Stock and any securities constituting Retained Distributions
that shall be forfeited or that shall not become vested in accordance with the Plan and the Agreement.


 


(b)
Rights of Holder. Restricted Stock shall constitute issued and outstanding shares of Common Stock for all corporate purposes.
The Holder will have the right to vote such Restricted Stock and to exercise all other rights, powers and privileges of a holder
of Common Stock with respect to such Restricted Stock, with the exceptions that (i) the Holder will not be entitled to delivery
of the stock certificate or certificates representing such Restricted Stock until the Restriction Period shall have expired and
unless all other vesting requirements with respect thereto shall have been fulfilled; (ii) the Company will retain custody of
the stock certificate or certificates representing the Restricted Stock during the Restriction Period; (iii) the Company will
retain custody of all dividends and distributions (“Retained Distributions”) made, paid or declared with respect to
the Restricted Stock (and such Retained Distributions will be subject to the same restrictions, terms and conditions as are applicable
to the Restricted Stock) until such time, if ever, as the Restricted Stock with respect to which such Retained Distributions shall
have been made, paid or declared shall have become vested and with respect to which the Restriction Period shall have expired;
and (iv) a breach by the Holder of any of the restrictions, terms or conditions contained in this Plan or the Agreement or otherwise
established by the Committee with respect to any Restricted Stock or Retained Distributions will cause a forfeiture of such Restricted
Stock and any Retained Distributions with respect thereto.


 


(c)
Vesting; Forfeiture. Upon the expiration of the Restriction Period with respect to each award of Restricted Stock and the
satisfaction of any other applicable restrictions, terms and conditions, (i) all or part of such Restricted Stock shall become
vested in accordance with the terms of the Agreement, and (ii) any Retained Distributions with respect to such Restricted Stock
shall become vested to the extent that the Restricted Stock related thereto shall have become vested. Any such Restricted Stock
and Retained Distributions that do not vest shall be forfeited to the Company and the Holder shall not thereafter have any rights
with respect to such Restricted Stock and Retained Distributions that shall have been so forfeited.


 


7.3.
Restricted Stock Units Terms and Conditions. Each Restricted Stock Units award shall be subject to the following terms
and conditions:


 


(a)
Settlement. The Committee may provide that settlement of Restricted Stock Units will occur upon or as soon as reasonably
practicable after the Restriction Period with respect to the award of the Restricted Stock Units and the satisfaction of any other
applicable restrictions, terms and conditions, or will instead be deferred, on a mandatory basis or at the Holder’s election,
in a manner intended to comply with Section 409A.


 




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(b)
Stockholder Rights. A Holder will have no rights of a holder of Common Stock with respect to shares subject to any Restricted
Stock Unit unless and until the shares are delivered in settlement of the Restricted Stock Unit.


 


(c)
Dividend Equivalents. If the Committee provides, a grant of Restricted Stock Units may provide a Holder with the right
to receive dividend equivalents. Dividend equivalents may be paid currently or credited to an account for the Holder, settled
in cash or shares and subject to the same restrictions on transferability and forfeitability as the Restricted Stock Units with
respect to which the dividend equivalents are granted and subject to other terms and conditions as set forth in the Agreement.


 


Section
8. Other Stock-Based Awards.


 


Other
Stock-Based Awards may be awarded, subject to limitations under applicable law, that are denominated or payable in, valued in
whole or in part by reference to, or otherwise based on or related to, shares of Common Stock, as deemed by the Committee to be
consistent with the purposes of the Plan, including, without limitation, purchase rights, shares of Common Stock awarded which
are not subject to any restrictions or conditions, convertible or exchangeable debentures, or other rights convertible into shares
of Common Stock and awards valued by reference to the value of securities of or the performance of specified Subsidiaries. These
Other Stock-Based Awards may include performance shares or options, whose award is tied to specific performance goals. Other Stock-Based
Awards may be awarded either alone or in addition to or in tandem with any other awards under this Plan or any other plan of the
Company. Each Other Stock-Based Award shall be subject to such terms and conditions as may be determined by the Committee.


 


Section
9. Accelerated Vesting and Exercisability.


 


9.1.
Non-Approved Transactions. If there is a Change of Control that has not been approved by the Company’s Board of Directors,
then the vesting periods of any and all Stock Options and other awards granted and outstanding under the Plan shall be accelerated
and all such Stock Options and awards will immediately and entirely vest, and the respective holders thereof will have the immediate
right to purchase and/or receive any and all Common Stock subject to such Stock Options and awards on the terms set forth in this
Plan and the respective Agreements respecting such Stock Options and awards, and all performance goals will be deemed achieved
at 100% of target levels and all other terms and conditions will be deemed met.


 


9.2.
Approved Transactions. In the event of an Asset Sale, or if there is a Change of Control that has been approved by the
Company’s Board of Directors, then the Committee may (i) accelerate the vesting of any and all Stock Options and other awards
granted and outstanding under the Plan; (ii) require a Holder of any Stock Option, Stock Appreciation Right, Restricted Stock
award or Other Stock-Based Award granted under this Plan to relinquish such award to the Company upon the tender by the Company
to Holder of cash, stock or other property, or any combination thereof, in an amount equal to the Repurchase Value of such award;
provided, however, that the obligation to tender the Repurchase Value to such Holders may be subject to any terms
and conditions to which the tender of consideration to the Company’s stockholders in connection with the acquisition is
subject, including any terms and conditions of the acquisition providing for an adjustment to or escrow of such consideration;
and provided, further, that in the case of any Stock Option or Stock Appreciation Right with an exercise price that equals or
exceeds the price paid for a share of Common Stock in connection with the acquisition, the Committee may cancel the Stock Option
or Stock Appreciation Right without the payment of consideration therefor; and/or (iii) terminate all incomplete performance periods
in respect of awards in effect on the date the acquisition occurs, determine the extent to which performance goals have been met
based upon such information then available as it deems relevant and cause to be paid to the Holder the all or the applicable portion
of the award based upon the Committee’s determination of the degree of attainment of performance goals, or on such other
basis determined by the Committee.


 




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9.3.
Code Section 409A. Notwithstanding any provisions of this Plan or any award granted hereunder to the contrary, no acceleration
shall occur with respect to any award to the extent such acceleration would cause the Plan or an award granted hereunder to fail
to comply with Code Section 409A.


 


Section
10. Amendment and Termination.


 


The
Board may at any time, and from time to time, amend alter, suspend or discontinue any of the provisions of the Plan or any Agreement,
but no amendment, alteration, suspension or discontinuance shall be made that would impair the rights of a Holder under any Agreement
theretofore entered into hereunder, without the Holder’s consent, except as set forth in this Plan or the Agreement. Notwithstanding
anything to the contrary herein, no amendment to the provisions of the Plan shall be effective unless approved by the shareholders
of the Company to the extent shareholder approval is necessary to satisfy any provision of the Code or other applicable law or
the listing requirements of any national securities exchange on which the Company’s securities are listed.


 


Section
11. Term of Plan.


 


11.1.
Effective Date. The Effective Date of the Plan shall be the day immediately prior to the consummation of the Company’s
initial public offering pursuant to a registration statement declared effective by the SEC. The Plan has been approved by the
Company’s stockholders, consistent with applicable laws, simultaneously with the adoption of the Plan by the Company’s
Board.


 


11.2.
Termination Date.Unless terminated by the Board, this Plan shall continue to remain effective until such time as no further
awards may be granted and all awards granted under the Plan are no longer outstanding. Notwithstanding the foregoing, grants of
Incentive Stock Options may be made only during the ten-year period beginning on the Effective Date.


 


Section
12. General Provisions.


 


12.1.
Written Agreements. Each award granted under the Plan shall be confirmed by, and shall be subject to the terms of, the
Agreement executed by the Company and the Holder, or such other document as may be determined by the Committee. The Committee
may terminate any award made under the Plan if the Agreement relating thereto is not executed and returned to the Company within
10 days after the Agreement has been delivered to the Holder for his or her execution.


 


12.2.
Unfunded Status of Plan. The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation.
With respect to any payments not yet made to a Holder by the Company, nothing contained herein shall give any such Holder any
rights that are greater than those of a general creditor of the Company.


 




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12.3.
Employees.


 


(a)
Engaging in Competition with the Company; Solicitation of Customers and Employees; Disclosure of Confidential Information.
If a Holder’s employment with the Company, a Subsidiary, Parent or Affiliate is terminated for any reason whatsoever, and
within 12 months after the date thereof such Holder either (i) accepts employment with any competitor of, or otherwise engages
in competition with, the Company, a Subsidiary, Parent or Affiliate, (ii) solicits any customers or employees of the Company,
a Subsidiary, Parent or Affiliate to do business with or render services to the Holder or any business with which the Holder becomes
affiliated or to which the Holder renders services or (iii) uses or discloses to anyone outside the Company any confidential information
of the Company, a Subsidiary, Parent or Affiliate in violation of the Company’s policies or any agreement between the Holder
and the Company, a Subsidiary, Parent or Affiliate, the Committee, in its sole discretion, may require such Holder to return to
the Company the economic value of any award that was realized or obtained by such Holder at any time during the period beginning
on the date that is six months prior to the date such Holder’s employment with the Company or its Subsidiary or Affiliate
is terminated; provided, however, that if the Holder is a resident of the State of California, such right must be exercised by
the Company for cash within six months after the date of termination of the Holder’s service to the Company or within six
months after exercise of the applicable Stock Option, whichever is later. In such event, Holder agrees to (1) remit to the Company,
in cash, an amount equal to the difference between the Fair Market Value of the shares on the date of termination (or the sales
price of such shares if the shares were sold during such six month period) and the price the Holder paid the Company for such
shares, or (2) in the case of SARs, return to the Company the full amount paid to the Holder in connection therewith.


 


(b)
Termination for Cause. If a Holder’s employment with the Company or its Subsidiary or Affiliate is terminated for
cause, the Committee may, in its sole discretion, require such Holder to return to the Company the economic value of any award
that was realized or obtained by such Holder at any time during the period beginning on that date that is six months prior to
the date such Holder’s employment with the Company is terminated. In such event, Holder agrees to (1) remit to the Company,
in cash, an amount equal to the difference between the Fair Market Value of the Shares on the date of termination (or the sales
price of such Shares if the Shares were sold during such six month period) and the price the Holder paid the Company for such
shares, (2) with the consent of the Company, which may be withheld for any reason or no reason, surrender to the Company shares
of Common Stock having a Fair Market Value equal to the Fair Market Value on the date they were acquired upon exercise of the
Option, or (3) in the case of SARs, return to the Company the full amount paid to the Holder in connection therewith.


 


(c)
No Right of Employment. Nothing contained in the Plan or in any award hereunder shall be deemed to confer upon any Holder
who is an employee of the Company, a Subsidiary, Parent or Affiliate any right to continued employment with the Company, a Subsidiary,
Parent or Affiliate, nor shall it interfere in any way with the right of the Company, a Subsidiary, Parent or Affiliate to terminate
the employment of any Holder who is an employee at any time.


 


12.4.
No Fractional Shares. No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan. The Committee
shall determine whether cash, additional awards or other securities or property shall be issued or paid in lieu of fractional
shares of Common Stock or whether any fractional shares should be rounded, forfeited or otherwise eliminated.


 




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12.5.
Provisions for Foreign Participants. The Committee may modify awards granted to Holders who are foreign nationals or employed
outside the United States or establish subplans or procedures under the Plan to address differences in laws, rules, regulations
or customs of such foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters.


 


12.6.
Limitations on Liability.


 


(a)
Notwithstanding any other provisions of the Plan, no individual acting as a director, officer, other employee or agent of the
Company, a Subsidiary, Parent or Affiliate will be liable to any Holder, former Holder, spouse, beneficiary, or any other person
for any claim, loss, liability, or expense incurred in connection with the Plan or any award, and such individual will not be
personally liable with respect to the Plan because of any contract or other instrument executed in his or her capacity as member
of the Committee, director, officer, other employee or agent of the Company, a Subsidiary, Parent or Affiliate. The Company will
indemnify and hold harmless each director, officer, other employee and agent of the Company, a Subsidiary, Parent or Affiliate
that has been or will be granted or delegated any duty or power relating to the Plan’s administration or interpretation,
against any cost or expense (including attorneys’ fees) or liability (including any sum paid in settlement of a claim with
the Committee’s approval) arising from any act or omission concerning this Plan unless arising from such person’s
own fraud or bad faith. 


 


(b)
Neither the Company nor any Subsidiary or Affiliate shall be liable to a Holder or any other person as to: (i) the non-issuance
or sale of shares as to which the Company has been unable to obtain from any regulatory body having jurisdiction the authority
deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any shares hereunder; and (ii) any tax
consequence expected, but not realized, by any Holder or other person due to the receipt, exercise or settlement of any Award
granted hereunder.


 


12.7.
Lock-Up Period. The Company may, at the request of any underwriter or placement agent, in connection with the registered
offering of any Company securities under the Securities Act or pursuant to an exemption therefrom, prohibit Holders from, directly
or indirectly, selling or otherwise transferring any shares or other Company securities acquired under this Plan during a period
of up to one hundred eighty days following either the effective date of a Company registration statement filed under the Securities
Act, in the case of a registered offering, or the closing date of the sale of the Company securities, in the case of an offering
exempt from registration, or for such longer period as determined by the underwriter or placement agent.


 




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12.8.
Data Privacy. As a condition for receiving any award, each Holder explicitly and unambiguously consents to the collection,
use and transfer, in electronic or other form, of personal data as described in this paragraph by and among the Company and any
Parent, Subsidiaries and Affiliates exclusively for implementing, administering and managing the Holder’s participation
in the Plan. The Company and any Parent, Subsidiaries and Affiliates may hold certain personal information about a Holder, including
the Holder’s name, address and telephone number; birthdate; social security, insurance number or other identification number;
salary; nationality; job title(s); any shares held in the Company or any Parent, Subsidiary or Affiliate; and award details, to
implement, manage and administer the Plan and awards (the “Data”). The Company and any Parent, Subsidiaries and Affiliates
may transfer the Data amongst themselves as necessary to implement, administer and manage a Holder’s participation in the
Plan, and the Company and any Parent, Subsidiaries and Affiliates may transfer the Data to third parties assisting the Company
with Plan implementation, administration and management. These recipients may be located in the Holder’s country, or elsewhere,
and the Holder’s country may have different data privacy laws and protections than the recipients’ country. By accepting
an award, each Holder authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other
form, to implement, administer and manage the Holder’s participation in the Plan, including any required Data transfer to
a broker or other third party with whom the Company or the Holder may elect to deposit any shares. The Data related to a Holder
will be held only as long as necessary to implement, administer, and manage the Holder’s participation in the Plan. A Holder
may, at any time, view the Data that the Company holds regarding such Holder, request additional information about the storage
and processing of the Data regarding such Holder, recommend any necessary corrections to the Data regarding the Holder or refuse
or withdraw the consents in this Section 12.8 in writing, without cost, by contacting the local human resources representative.
The Company may cancel Holder’s ability to participate in the Plan and, in the Committee’s discretion, the Holder
may forfeit any outstanding awards if the Holder refuses or withdraws the consents in this Section 12.8. For more information
on the consequences of refusing or withdrawing consent, Holders may contact their local human resources representative.


 


12.9.
Successor. The obligations of the Company under the Plan shall be binding upon any successor corporation or organization
resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization
succeeding to all or substantially all of the assets and business of the Company and its Subsidiaries, taken as a whole.


 


12.10.
Investment Representations; Company Policy. The Committee may require each person acquiring shares of Common Stock pursuant
to a Stock Option or other award under the Plan to represent to and agree with the Company in writing that the Holder is acquiring
the shares for investment without a view to distribution thereof. Each person acquiring shares of Common Stock pursuant to a Stock
Option or other award under the Plan shall be required to abide by all policies of the Company in effect at the time of such acquisition
and thereafter with respect to the ownership and trading of the Company’s securities.


 


12.11.
Additional Incentive Arrangements. Nothing contained in the Plan shall prevent the Board from adopting such other or additional
incentive arrangements as it may deem desirable, including, but not limited to, the granting of Stock Options and the awarding
of Common Stock and cash otherwise than under the Plan; and such arrangements may be either generally applicable or applicable
only in specific cases.


 


12.12.
Withholding Taxes. Not later than the date as of which an amount must first be included in the gross income of the Holder
for Federal income tax purposes with respect to any Stock Option or other award under the Plan, the Holder shall pay to the Company,
or make arrangements satisfactory to the Committee regarding the payment of, any Federal, state and local taxes of any kind required
by law to be withheld or paid with respect to such amount. If permitted by the Committee, tax withholding or payment obligations
may be settled with Common Stock, including Common Stock that is part of the award that gives rise to the withholding requirement.
The obligations of the Company under the Plan shall be conditioned upon such payment or arrangements and the Company or the Holder’s
employer (if not the Company) shall, to the extent permitted by law, have the right to deduct any such taxes from any payment
of any kind otherwise due to the Holder from the Company or any Subsidiary.


 




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12.13.
Clawback. Notwithstanding any other provisions of the Plan, any award which is subject to recovery under any law, government
regulation or listing requirement of any national securities exchange on which the Company’s securities are listed, will
be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or listing
requirement (or any policy adopted by the Company pursuant to any such law, government regulation or listing requirement).


 


12.14.
Governing Law. The Plan and all awards made and actions taken thereunder shall be governed by and construed in accordance
with the law of the State of Delaware (without regard to choice of law provisions).


 


12.15.
Other Benefit Plans. Any award granted under the Plan shall not be deemed compensation for purposes of computing benefits
under any retirement plan of the Company or any Parent, Subsidiary or Affiliate and shall not 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
(unless required by specific reference in any such other plan to awards under this Plan).


 


12.16.
Non-Transferability. Except as otherwise expressly provided in the Plan or the Agreement, no right or benefit under the
Plan may be alienated, sold, assigned, hypothecated, pledged, exchanged, transferred, encumbranced or charged, and any attempt
to alienate, sell, assign, hypothecate, pledge, exchange, transfer, encumber or charge the same shall be void.


 


12.17.
Applicable Laws. The obligations of the Company with respect to all Stock Options and other awards under the Plan shall
be subject to (i) all applicable laws, rules and regulations and such approvals by any governmental agencies as may be required,
including, without limitation, the Securities Act, and (ii) the rules and regulations of any securities exchange on which the
Common Stock may be listed. Notwithstanding anything herein to the contrary, the Plan and all awards will be administered only
in conformance with such applicable laws. To the extent such applicable laws permit, the Plan and all Agreements will be deemed
amended as necessary to conform to such applicable laws.


 


12.18.
Conflicts. If any of the terms or provisions of the Plan or an Agreement conflict with the requirements of Section 422
of the Code, then such terms or provisions shall be deemed inoperative to the extent they so conflict with such requirements.
Additionally, if this Plan or any Agreement does not contain any provision required to be included herein under Section 422 of
the Code, such provision shall be deemed to be incorporated herein and therein with the same force and effect as if such provision
had been set out at length herein and therein. If any of the terms or provisions of any Agreement conflict with any terms or provisions
of the Plan, then such terms or provisions shall be deemed inoperative to the extent they so conflict with the requirements of
the Plan. Additionally, if any Agreement does not contain any provision required to be included therein under the Plan, such provision
shall be deemed to be incorporated therein with the same force and effect as if such provision had been set out at length therein.


 


12.19.
Compliance with Section 409A of the Code. The Company intends that any awards be structured in compliance with, or to satisfy
an exemption from, Section 409A of the Code, such that there are no adverse tax consequences, interest, or penalties pursuant
to Section 409A of the Code as a result of the awards. Notwithstanding the Company’s intention, in the event any award is
subject to Section 409A of the Code, the Committee may, in its sole discretion and without a participant’s prior consent,
amend this Plan and/or outstanding Agreements, adopt policies and procedures, or take any other actions (including amendments,
policies, procedures and actions with retroactive effect) as are necessary or appropriate to (i) exempt this Plan and/or any award
from the application of Section 409A of the Code, (ii) preserve the intended tax treatment of any such award, or (iii) comply
with the requirements of Section 409A of the Code, including without limitation any such regulations guidance, compliance programs
and other interpretive authority that may be issued after the date of grant of an award. This Plan shall be interpreted at all
times in such a manner that the terms and provisions of the Plan and the awards are exempt from or comply with Section 409A of
the Code.


 




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12.20.
Sub-Plans. The Committee may from time to time establish sub-plans under the Plan for purposes of satisfying blue sky,
securities, tax or other laws of various jurisdictions in which the Company intends to grant awards. Any sub-plans shall contain
such limitations and other terms and conditions as the Committee determines are necessary or desirable. All sub-plans shall be
deemed a part of the Plan, but each sub-plan shall apply only to the participants in the jurisdiction for which the sub-plan was
designed.


 


12.21.
Non-Registered Stock. The shares of Common Stock to be distributed under this Plan have not been, as of the Effective Date,
registered under the Securities Act or any applicable state or foreign securities laws and the Company has no obligation to any
Holder to register the Common Stock or to assist the Holder in obtaining an exemption from the various registration requirements,
or to list the Common Stock on a national securities exchange or any other trading or quotation system.


 


12.22.
Non-Uniform Treatment. The Committee’s determinations under the Plan need not be uniform and may be made by it selectively
among persons who are eligible to receive, or actually receive, awards. Without limiting the generality of the foregoing, the
Committee shall be entitled to make non-uniform and selective determinations, amendments and adjustments, and to enter into non-uniform
and selective Agreements.


 




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