Exhibit
10.1


 


ONCOSEC
MEDICAL INCORPORATED 2015 EMPLOYEE STOCK PURCHASE PLAN


 


(as
adopted by the Board of Directors on October 14, 2015 and proposed to be adopted by the Shareholders on December 4, 2015)


 


	1.
    	ESTABLISHMENT,
    PURPOSE, AND TIME OF PLAN.


 


	 	1.1.	Establishment.
    The OncoSec Medical Incorporated 2015 Employee Stock Purchase Plan (the “Plan”) is hereby established
    effective as of the date of its approval by the shareholders of the Company (the “Effective Date”).
	 	 	 
	 	1.2.
    	Purpose.
    The purpose of the Plan is to advance the interests of the Company and its shareholders by providing an incentive to attract,
    retain and reward Eligible Employees of the Participating Company Group and by motivating such persons to contribute to the growth
    and profitability of the Participating Company Group. The Plan provides such Eligible Employees with an opportunity to acquire a
    proprietary interest in the Company through the purchase of Stock. The Company intends that the Plan qualify as an “employee
    stock purchase plan” under Section 423 of the Code (including any amendments or replacements of such section), and the Plan
    shall be so construed.
	 	 	 
	 	1.3.
    	Term
    of Plan. The Plan shall continue in effect until its termination by the Committee.


 


	2.	DEFINITIONS
    AND CONSTRUCTION.


 


	 	2.1.	Definitions.
    Any term not expressly defined in the Plan but defined for purposes of Section 423 of the Code shall have the same definition
    herein. Whenever used herein, the following terms shall have their respective meanings set forth below:


 


	 	 	a.	“Board”
    means the Board of Directors of the Company.
	 	 	 	 
	 	 	b.	“Change
    in Control” means the occurrence of any one or a combination of the following:


 


	 	i.	 any
    “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner”
    (as such term is defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company
    representing more than fifty percent (50%) of the total Fair Market Value or total combined voting power of the Company’s then-outstanding
    securities entitled to vote generally in the election of Directors; provided, however, that a Change in Control shall not be deemed
    to have occurred if such degree of beneficial ownership results from any of the following: (A) an acquisition by any person who on
    the Effective Date is the beneficial owner of more than fifty percent (50%) of such voting power, (B) any acquisition directly from
    the Company, including, without limitation, pursuant to or in connection with a public offering of securities, (C) any acquisition
    by the Company, (D) any acquisition by a trustee or other fiduciary under an employee benefit plan of a Participating Company or
    (E) any acquisition by an entity owned directly or indirectly by the shareholders of the Company in substantially the same proportions
    as their ownership of the voting securities of the Company; or
	 	 	 
	 	ii.	an
    Ownership Change Event or series of related Ownership Change Events (collectively, a “Transaction”) in which the shareholders
    of the Company immediately before the Transaction do not retain immediately after the Transaction direct or indirect beneficial ownership
    of more than fifty percent (50%) of the total combined voting power of the outstanding securities entitled to vote generally in the
    election of Directors or, in the case of an Ownership Change Event described in Section 2.1.p(iii), the entity to which the assets
    of the Company were transferred (the “Transferee”), as the case may be; or


 




    	 



    	 



    

 


	 	iii.	approval
    by the shareholders of a plan of complete liquidation or dissolution of the Company; provided, however, that a Change in Control
    shall be deemed not to include a transaction described in subsections i. or ii. of this Section 2.1.b in which a majority of the
    members of the board of directors of the continuing, surviving or successor entity, or parent thereof, immediately after such transaction
    is comprised of Incumbent Directors.


 


For
purposes of the preceding sentence, indirect beneficial ownership shall include, without limitation, an interest resulting from ownership
of the voting securities of one or more corporations or other business entities which own the Company or the Transferee, as the case
may be, either directly or through one or more subsidiary corporations or other business entities. The Committee shall determine whether
multiple acquisitions of the voting securities of the Company and/or multiple Ownership Change Events are related and to be treated in
the aggregate as a single Change in Control, and its determination shall be final, binding and conclusive.


 


	 	c.	“Code”
    means the Internal Revenue Code of 1986, as amended, and any applicable regulations promulgated thereunder.
	 	 	 
	 	d.	“Committee”
    means the Compensation Committee and such other committee or subcommittee of the Board, if any, duly appointed to administer
    the Plan and having such powers in each instance as shall be specified by the Board. If, at any time, there is no committee of the
    Board then authorized or properly constituted to administer the Plan, the Board shall exercise all of the powers of the Committee
    granted herein, and, in any event, the Board may in its discretion exercise any or all of such powers.
	 	 	 
	 	e.	“Company”
    means OncoSec Medical Incorporated, a Nevada corporation, or any successor corporation thereto.
	 	 	 
	 	f.	“Compensation”
    means, with respect to any Offering Period, regular base wages or salary, overtime payments, shift premiums and payments for
    paid time off, calculated before deduction of (i) any income or employment tax withholdings or (ii) any amounts deferred pursuant
    to Section 401(k) or Section 125 of the Code. Compensation shall be limited to such amounts actually payable in cash or deferred
    during the Offering Period. Compensation shall not include (i) sign-on bonuses, annual or other incentive bonuses, commissions, profit-sharing
    distributions or other incentive-type payments, (ii) any contributions made by a Participating Company on the Participant’s
    behalf to any employee benefit or welfare plan now or hereafter established (other than amounts deferred pursuant to Section 401(k)
    or Section 125 of the Code), (iii) payments in lieu of notice, payments pursuant to a severance agreement, termination pay, moving
    allowances, relocation payments, or (iv) any amounts directly or indirectly paid pursuant to the Plan or any other stock purchase,
    stock option or other stock-based compensation plan, or any other compensation not expressly included by this Section.
	 	 	 
	 	g.	 “Eligible
    Employee” means an Employee who meets the requirements set forth in Section 5 for eligibility to participate in the
    Plan.
	 	 	 
	 	h.	 “Employee”
    means a person treated as an employee of a Participating Company for purposes of Section 423 of the Code. A Participant shall
    be deemed to have ceased to be an Employee either upon an actual termination of employment or upon the corporation employing the
    Participant ceasing to be a Participating Company. For purposes of the Plan, an individual shall not be deemed to have ceased to
    be an Employee while on any military leave, sick leave, or other bona fide leave of absence approved by the Company of ninety (90)
    days or less. If an individual’s leave of absence exceeds ninety (90) days, the individual shall be deemed to have ceased to
    be an Employee on the ninety-first (91st) day of such leave unless the individual’s right to reemployment with the Participating
    Company Group is guaranteed either by statute or by contract.


 




    	 



    	 



    

 


	 	i.	“Fair
    Market Value” means, as of any date:


 


	 	i.	If,
    on such date, the Stock is listed or quoted on a national or regional securities exchange or quotation system, the closing price
    of a share of Stock as quoted on the national or regional securities exchange or quotation system constituting the primary market
    for the Stock, as reported on the web site of such exchange or quotation system or such other source as the Company deems reliable.
    If the relevant date does not fall on a day on which the Stock has traded on such securities exchange or quotation system, the date
    on which the Fair Market Value is established shall be the last day on which the Stock was so traded or quoted prior to the relevant
    date, or such other appropriate day as determined by the Committee, in its discretion.
	 	 	 
	 	ii.	If,
    on the relevant date, the Stock is not then listed on a national or regional securities exchange or quotation system, the Fair Market
    Value of a share of Stock shall be as determined in good faith by the Committee.


 


	 	j.	“Incumbent
    Director” means a director who either (i) is a member of the Board as of the Effective Date, or (ii) is elected, or
    nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of
    such election or nomination (but excluding a director who was elected or nominated in connection with an actual or threatened proxy
    contest relating to the election of directors of the Company).
	 	 	 
	 	k.	“Non-United
    States Offering” means a separate Offering covering Eligible Employees of one or more Participating Companies whose
    Eligible Employees are subject to a prohibition under applicable law on payroll deductions, as described in Section 11.1.b.
	 	 	 
	 	l.	“Offering”
    means an offering of Stock pursuant to the Plan, as provided in Section 6.
	 	 	 
	 	m.	“Offering
    Date” means, for any Offering Period, the first day of such Offering Period.
	 	 	 
	 	n.	“Offering
    Period” means a period, established by the Committee in accordance with Section 6, during which an Offering is outstanding.
	 	 	 
	 	o.	“Officer”
    means any person designated by the Board as an officer of the Company.
	 	 	 
	 	p.	“Ownership
    Change Event” means the occurrence of any of the following with respect to the Company: (i) the direct or indirect
    sale or exchange in a single or series of related transactions by the shareholders of the Company of securities of the Company representing
    more than fifty percent (50%) of the total combined voting power of the Company’s then outstanding securities entitled to vote
    generally in the election of Directors; (ii) a merger or consolidation in which the Company is a party; or (iii) the sale, exchange,
    or transfer of all or substantially all of the assets of the Company (other than a sale, exchange or transfer to one or more subsidiaries
    of the Company).
	 	 	 
	 	q.	“Parent
    Corporation” means any present or future “parent corporation” of the Company, as defined in Section 424(e)
    of the Code.
	 	 	 
	 	r.	“Participant”
    means an Eligible Employee who has become a participant in an Offering Period in accordance with Section 7 and remains a participant
    in accordance with the Plan.
	 	 	 
	 	s.	“Participating
    Company” means the Company and any Parent Corporation or Subsidiary Corporation designated by the Committee as a corporation
    the Employees of which may, if Eligible Employees, participate in the Plan. The Committee shall have the discretion to determine
    from time to time which Parent Corporations or Subsidiary Corporations shall be Participating Companies.
	 	 	 
	 	t.	“Participating
    Company Group” means, at any point in time, the Company and all other corporations collectively which are then Participating
    Companies.
	 	 	 
	 	u.	“Purchase
    Date” means, for any Offering Period, the last day of such Offering Period, or, if so determined by the Committee,
    the last day of each Purchase Period occurring within such Offering Period.


 




    	 



    	 



    

 





	 	v.	“Purchase
    Period” means a period, established by the Committee in accordance with Section 6, included within an Offering Period
    and on the final date of which outstanding Purchase Rights are exercised.
	 	 	 
	 	w.	“Purchase
    Price” means the price at which a share of Stock may be purchased under the Plan, as determined in accordance with
    Section 9.
	 	 	 
	 	x.	“Purchase
    Right” means an option granted to a Participant pursuant to the Plan to purchase such shares of Stock as provided in
    Section 8, which the Participant may or may not exercise during the Offering Period in which such option is outstanding. Such option
    arises from the right of a Participant to withdraw any payroll deductions or other funds accumulated on behalf of the Participant
    and not previously applied to the purchase of Stock under the Plan, and to terminate participation in the Plan at any time during
    an Offering Period.
	 	 	 
	 	y.	“Securities
    Act” means the Securities Act of 1933, as amended.
	 	 	 
	 	z.	“Stock”
    means the common stock of the Company, as adjusted from time to time in accordance with Section 4.2.
	 	 	 
	 	aa.	“Subscription
    Agreement” means a written or electronic agreement, in such form as is specified by the Company, stating an Employee’s
    election to participate in the Plan and authorizing payroll deductions under the Plan from the Employee’s Compensation or other
    method of payment authorized by the Committee pursuant to Section 11.1.b.
	 	 	 
	 	bb.	“Subscription
    Date” means the last business day prior to the Offering Date of an Offering Period or such earlier date as the Company
    shall establish.
	 	 	 
	 	cc.	“Subsidiary
    Corporation” means any present or future “subsidiary corporation” of the Company, as defined in Section
    424(f) of the Code.


 


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


 


	3.	ADMINISTRATION.


 


	 	3.1.	Administration
    by the Committee. The Plan shall be administered by the Committee. All questions of interpretation of the Plan, of any form of
    agreement or other document employed by the Company in the administration of the Plan, or of any Purchase Right shall be determined
    by the Committee, and such determinations shall be final, binding and conclusive upon all persons having an interest in the Plan
    or the Purchase Right, unless fraudulent or made in bad faith. Subject to the provisions of the Plan, the Committee shall determine
    all of the relevant terms and conditions of Purchase Rights; provided, however, that all Participants granted Purchase Rights pursuant
    to an Offering shall have the same rights and privileges within the meaning of Section 423(b)(5) of the Code. Any and all actions,
    decisions and determinations taken or made by the Committee in the exercise of its discretion pursuant to the Plan or any agreement
    thereunder (other than determining questions of interpretation pursuant to the second sentence of this Section 3.1) shall be final,
    binding and conclusive upon all persons having an interest therein. All expenses incurred in the administration of the Plan shall
    be paid by the Company.
	 	 	 
	 	3.2.	Authority
    of Officers. Any Officer shall have the authority to act on behalf of the Company with respect to any matter, right, obligation,
    determination or election that is the responsibility of or that is allocated to the Company herein, provided that the Officer has
    apparent authority with respect to such matter, right, obligation, determination or election.


 




    	 



    	 



    

 


	 	3.3.	Power
    to Adopt Sub-Plans or Varying Terms with Respect to Non-U.S. Employees. The Committee shall have the power, in its discretion,
    to adopt one or more sub-plans of the Plan as the Committee deems necessary or desirable to comply with the laws or regulations,
    tax policy, accounting principles or custom of foreign jurisdictions applicable to employees of a subsidiary business entity of the
    Company, provided that any such sub-plan shall not be within the scope of an “employee stock purchase plan” within the
    meaning of Section 423 of the Code. Any of the provisions of any such sub-plan may supersede the provisions of this Plan, other than
    Section 4. Except as superseded by the provisions of a sub-plan, the provisions of this Plan shall govern such sub-plan. Alternatively
    and in order to comply with the laws of a foreign jurisdiction, the Committee shall have the power, in its discretion, to grant Purchase
    Rights in an Offering to citizens or residents of a non-U.S. jurisdiction (without regard to whether they are also citizens of the
    United States or resident aliens) that provide terms which are less favorable than the terms of Purchase Rights granted under the
    same Offering to Employees resident in the United States.
	 	 	 
	 	3.4.	Power
    to Establish Separate Offerings with Varying Terms. The Committee shall have the power, in its discretion, to establish separate,
    simultaneous or overlapping Offerings having different terms and conditions and to designate the Participating Company or Companies
    that may participate in a particular Offering, provided that each Offering shall individually comply with the terms of the Plan and
    the requirements of Section 423(b)(5) of the Code that all Participants granted Purchase Rights pursuant to such Offering shall have
    the same rights and privileges within the meaning of such section.
	 	 	 
	 	3.5.	Policies
    and Procedures Established by the Company. Without regard to whether any Participant’s Purchase Right may be considered
    adversely affected, the Company may, from time to time, consistent with the Plan and the requirements of Section 423 of the Code,
    establish, change or terminate such rules, guidelines, policies, procedures, limitations, or adjustments as deemed advisable by the
    Company, in its discretion, for the proper administration of the Plan, including, without limitation, (a) a minimum payroll deduction
    amount required for participation in an
	 	 	 
	 	 	Offering,
    (b) a limitation on the frequency or number of changes permitted in the rate of payroll deduction during an Offering, (c) an exchange
    ratio applicable to amounts withheld or paid in a currency other than United States dollars, (d) a payroll deduction greater than
    or less than the amount designated by a Participant in order to adjust for the Company’s delay or mistake in processing a Subscription
    Agreement or in otherwise effecting a Participant’s election under the Plan or as advisable to comply with the requirements
    of Section 423 of the Code, and (e) determination of the date and manner by which the Fair Market Value of a share of Stock is determined
    for purposes of administration of the Plan. All such actions by the Company shall be taken consistent with the requirements under
    Section 423(b)(5) of the Code that all Participants granted Purchase Rights pursuant to an Offering shall have the same rights and
    privileges within the meaning of such section, except as otherwise permitted by Section 3.3 and the regulations under Section 423
    of the Code.
	 	 	 
	 	3.6.	Indemnification.
    In addition to such other rights of indemnification as they may have as members of the Board or the Committee or as officers
    or employees of the Participating Company Group, to the extent permitted by applicable law, members of the Board or the Committee
    and any officers or employees of the Participating Company Group to whom authority to act for the Board, the Committee or the Company
    is delegated shall be indemnified by the Company against all reasonable expenses, including attorneys’ fees, actually and necessarily
    incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which they
    or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any right
    granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent
    legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except
    in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such person is liable for gross negligence,
    bad faith or intentional misconduct in duties; provided, however, that within sixty (60) days after the institution of such action,
    suit or proceeding, such person shall offer to the Company, in writing, the opportunity at its own expense to handle and defend the
    same.


 




    	 



    	 



    

 


	4.	SHARES
    SUBJECT TO PLAN.


 


	 	4.1.	Maximum
    Number of Shares Issuable. Subject to adjustment as provided in Section 4.2, the maximum aggregate number of shares of Stock
    that may be issued under the Plan shall be five hundred thousand (500,000) shares and shall consist of authorized but unissued or
    reacquired shares of Stock, or any combination thereof. If an outstanding Purchase Right for any reason expires or is terminated
    or canceled, the shares of Stock allocable to the unexercised portion of that Purchase Right shall again be available for issuance
    under the Plan.
	 	 	 
	 	4.2.	Adjustments
    for Changes in Capital Structure. Subject to any required action by the shareholders of the Company and the requirements of Section
    424 of the Code to the extent applicable, in the event of any change in the Stock effected without receipt of consideration by the
    Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend,
    stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares, or similar change in
    the capital structure of the Company, or in the event of payment of a dividend or distribution to the shareholders of the Company
    in a form other than Stock (excepting regular, periodic cash dividends) that has a material effect on the Fair Market Value of shares
    of Stock, appropriate and proportionate adjustments shall be made in the number and kind of shares subject to the Plan, the Annual
    Increase, the limit on the shares which may be purchased by any Participant during an Offering (as described in Sections 8.1 and
    8.2) and each Purchase Right, and in the Purchase Price in order to prevent dilution or enlargement of Participants’ rights
    under the Plan. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected
    without receipt of consideration by the Company.” If a majority of the shares which are of the same class as the shares that
    are subject to outstanding Purchase Rights are exchanged for, converted into, or otherwise become (whether or not pursuant to an
    Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally
    amend the outstanding Purchase Rights to provide that such Purchase Rights are for New Shares. In the event of any such amendment,
    the number of shares subject to, and the exercise price per share of, the outstanding Purchase Rights shall be adjusted in a fair
    and equitable manner as determined by the Committee, in its discretion. Any fractional share resulting from an adjustment pursuant
    to this Section shall be rounded down to the nearest whole number, and in no event may the Purchase Price be decreased to an amount
    less than the par value, if any, of the stock subject to the Purchase Right. The adjustments determined by the Committee pursuant
    to this Section 4.2 shall be final, binding and conclusive.


 


	5.	ELIGIBILITY.


 


	 	5.1.	Employees
    Eligible to Participate. Each Employee of a Participating Company is eligible to participate in the Plan and shall be deemed
    an Eligible Employee, except the Committee may, prior to the commencement of any Offering Period, elect to exclude the following
    Employees from such Offering Period (and subsequent Offering Periods):


 


	 	a.	Any
    Employee who is customarily employed by the Participating Company Group for twenty (20) hours or less per week; or
	 	 	 
	 	b.	Any
    Employee who is customarily employed by the Participating Company Group for not more than five (5) months in any calendar year.


 


	 	5.2.	Exclusion
    of Certain Shareholders. Notwithstanding any provision of the Plan to the contrary, no Employee shall be treated as an Eligible
    Employee and granted a Purchase Right under the Plan if, immediately after such grant, the Employee would own, or hold options to
    purchase, stock of the Company or of any Parent Corporation or Subsidiary Corporation possessing five percent (5%) or more of the
    total combined voting power or value of all classes of stock of such corporation, as determined in accordance with Section 423(b)(3)
    of the Code. For purposes of this Section 5.2, the attribution rules of Section 424(d) of the Code shall apply in determining the
    stock ownership of such Employee.
	 	 	 
	 	5.3.	Determination
    by Company. The Company shall determine in good faith and in the exercise of its discretion whether an individual has become
    or has ceased to be an Employee or an Eligible Employee and the effective date of such individual’s attainment or termination
    of such status, as the case may be. For purposes of an individual’s participation in or other rights, if any, under the Plan
    as of the time of the Company’s determination of whether or not the individual is an Employee, all such determinations by the
    Company shall be final, binding and conclusive as to such rights, if any, notwithstanding that the Company or any court of law or
    governmental agency subsequently makes a contrary determination as to such individual’s status as an Employee.


 




    	 



    	 



    

 


	6.	OFFERINGS.


 


The
Plan shall be implemented by sequential Offerings of approximately six (6) months duration or such other period as the Committee shall
determine. Offering Periods shall commence in such months as determined by the Committee in its discretion, beginning on or about the
first trading day for such six (6) month period and ending on or about the last trading day in such six (6) month period. Thereafter,
unless otherwise established by the Committee, a new Offering Period of six (6) months duration shall commence on the next trading day
and shall last for another period of six (6) months, ending on or about the last trading day at the end of such six month period. Notwithstanding
the foregoing, the Committee may establish additional or alternative concurrent, sequential or overlapping Offering Periods, a different
duration for one or more Offering Periods or different commencing or ending dates for such Offering Periods; provided, however, that
no Offering Period may have a duration exceeding twenty-seven (27) months. If the Committee shall so determine in its discretion, each
Offering Period may consist of two (2) or more consecutive Purchase Periods having such duration as the Committee shall specify, and
the last day of each such Purchase Period shall be a Purchase Date. If the first or last day of an Offering Period or a Purchase Period
is not a day on which the principal stock exchange or quotation system on which the Stock is then listed is open for trading, the Company
shall specify the trading day that will be deemed the first or last day, as the case may be, of the Offering Period or Purchase Period.


 


	7.	PARTICIPATION
    IN THE PLAN.


 


	 	7.1.	Initial
    Participation. An Eligible Employee may become a Participant in an Offering Period by delivering a properly completed written
    or electronic Subscription Agreement to the Company office or representative designated by the Company (including a third-party administrator
    designated by the Company) not later than the close of business on the Subscription Date established by the Company for that Offering
    Period. An Eligible Employee who does not deliver a properly completed Subscription Agreement in the manner permitted or required
    on or before the Subscription Date for an Offering Period shall not participate in the Plan for that Offering Period or for any subsequent
    Offering Period unless the Eligible Employee subsequently delivers a properly completed Subscription Agreement to the appropriate
    Company office or representative on or before the Subscription Date for such subsequent Offering Period. An Employee who becomes
    an Eligible Employee after the Offering Date of an Offering Period shall not be eligible to participate in that Offering Period but
    may participate in any subsequent Offering Period provided the Employee is still an Eligible Employee as of the Offering Date of
    such subsequent Offering Period.


 


	 	7.2.	Continued
    Participation. A Participant shall automatically participate in the next Offering Period commencing immediately after the final
    Purchase Date of each Offering Period in which the Participant participates provided that the Participant remains an Eligible Employee
    on the Offering Date of the new Offering Period and has not either (a) withdrawn from the Plan pursuant to Section 12.1, or (b) terminated
    employment or otherwise ceased to be an Eligible Employee as provided in Section 13. A Participant who may automatically participate
    in a subsequent Offering Period, as provided in this Section, is not required to deliver any additional Subscription Agreement for
    the subsequent Offering Period in order to continue participation in the Plan. However, a Participant may deliver a new Subscription
    Agreement for a subsequent Offering Period in accordance with the procedures set forth in Section 7.1 if the Participant desires
    to change any of the elections contained in the Participant’s then effective Subscription Agreement.


 




    	 



    	 



    

 





	8.	RIGHT
    TO PURCHASE SHARES.


 


	 	8.1.	Grant
    of Purchase Right. Except as otherwise provided below, on the Offering Date of each Offering Period, each Participant in such
    Offering Period shall be granted automatically a Purchase Right consisting of an option to purchase the lesser of (a) that number
    of whole shares of Stock determined by dividing the Dollar Limit (determined as provided below) by the Fair Market Value of a share
    of Stock on such Offering Date or (b) the Share Limit (determined as provided below). The Committee may, in its discretion and prior
    to the Offering Date of any Offering Period, (i) change the method of, or any of the foregoing factors in, determining the number
    of shares of Stock subject to Purchase Rights to be granted on such Offering Date, or (ii) specify a maximum aggregate number of
    shares that may be purchased by all Participants in an Offering or on any Purchase Date within an Offering Period. No Purchase Right
    shall be granted on an Offering Date to any person who is not, on such Offering Date, an Eligible Employee. For the purposes of this
    Section, the “Dollar Limit” shall be determined by multiplying $2,083.33 by the number of months (rounded
    to the nearest whole month) in the Offering Period and rounding to the nearest whole dollar, and the “Share Limit”
    shall be determined by multiplying five hundred (500) shares by the number of months (rounded to the nearest whole month) in
    the Offering Period and rounding to the nearest whole share.
	 	 	 
	 	8.2.	Calendar
    Year Purchase Limitation. Notwithstanding any provision of the Plan to the contrary, no Participant shall be granted a Purchase
    Right which permits his or her right to purchase shares of Stock under the Plan to accrue at a rate which, when aggregated with such
    Participant’s rights to purchase shares under all other employee stock purchase plans of a Participating Company intended to
    meet the requirements of Section 423 of the Code, exceeds twenty-five thousand dollars ($25,000) in Fair Market Value (or such other
    limit, if any, as may be imposed by the Code) for each calendar year in which such Purchase Right is outstanding at any time. For
    purposes of the preceding sentence, the Fair Market Value of shares purchased during a given Offering Period shall be determined
    as of the Offering Date for such Offering Period. The limitation described in this Section shall be applied in conformance with Section
    423(b)(8) of the Code and the regulations thereunder.


 


	9.	PURCHASE
    PRICE.


 


The
Purchase Price at which each share of Stock may be acquired in an Offering Period upon the exercise of all or any portion of a Purchase
Right shall be established by the Committee; provided, however, that the Purchase Price on each Purchase Date shall not be less than
eighty five percent (85%) of the lesser of (a) the Fair Market Value of a share of Stock on the Offering Date of the Offering Period
or (b) the Fair Market Value of a share of Stock on the Purchase Date.


 


	10.	ACCUMULATION
    OF PURCHASE PRICE THROUGH PAYROLL DEDUCTION.


 


Except
as provided in Section 11.1.b with respect to a Non-United States Offering, shares of Stock acquired pursuant to the exercise of all
or any portion of a Purchase Right may be paid for only by means of payroll deductions from the Participant’s Compensation accumulated
during the Offering Period for which such Purchase Right was granted, subject to the following:


 


	 	10.1.	Amount
    of Payroll Deductions. Except as otherwise provided herein, the amount to be deducted under the Plan from a Participant’s
    Compensation on each pay day during an Offering Period shall be determined by the Participant’s Subscription Agreement. The
    Subscription Agreement shall set forth the percentage of the Participant’s Compensation to be deducted on each pay day during
    an Offering Period in whole percentages of not less than one percent (1%) (except as a result of an election pursuant to Section
    10.3 to stop payroll deductions effective following the first pay day during an Offering) or more than ten percent (10%) .
    The Committee may change the foregoing limits on payroll deductions effective as of any Offering Date.
	 	 	 
	 	10.2.	Commencement
    of Payroll Deductions. Payroll deductions shall commence on the first pay day following the Offering Date and shall continue
    to the end of the Offering Period unless sooner altered or terminated as provided herein.


 




    	 



    	 



    

 


	 	10.3.	Election
    to Decrease or Stop Payroll Deductions. During an Offering Period, a Participant may elect to decrease the rate of or to stop
    deductions from his or her Compensation by delivering to the Company office or representative designated by the Company (including
    a third-party administrator designated by the Company) an amended Subscription Agreement authorizing such change on or before the
    “Change Notice Date.” The “Change Notice Date” shall be a date prior to the beginning of the
    first pay period for which such election is to be effective as established by the Company from time to time and announced to the
    Participants. A Participant who elects, effective following the first pay day of an Offering Period, to decrease the rate of his
    or her payroll deductions to zero percent (0%) shall nevertheless remain a Participant in such Offering Period unless the Participant
    withdraws from the Plan as provided in Section 12.1.
	 	 	 
	 	10.4.	Administrative
    Suspension of Payroll Deductions. The Company may, in its discretion, suspend a Participant’s payroll deductions under
    the Plan as the Company deems advisable to avoid accumulating payroll deductions in excess of the amount that could reasonably be
    anticipated to purchase the maximum number of shares of Stock permitted (a) under the Participant’s Purchase Right, or (b)
    during a calendar year under the limit set forth in Section 8.2. Unless the Participant has either withdrawn from the Plan as provided
    in Section 12.1 or has ceased to be an Eligible Employee, suspended payroll deductions shall be resumed at the rate specified in
    the Participant’s then effective Subscription Agreement either (i) at the beginning of the next Offering Period if the reason
    for suspension was clause (a) in the preceding sentence, or (ii) at the beginning of the next Offering Period having a first Purchase
    Date that falls within the subsequent calendar year if the reason for suspension was clause (b) in the preceding sentence.
	 	 	 
	 	10.5.
    	Participant
    Accounts. Individual bookkeeping accounts shall be maintained for each Participant. All payroll deductions from a Participant’s
    Compensation (and other amounts received from a non-United States Participant pursuant to Section 11.1.b shall be credited to such
    Participant’s Plan account and shall be deposited with the general funds of the Company. All such amounts received or held
    by the Company may be used by the Company for any corporate purpose.
	 	 	 
	 	10.6.	No
    Interest Paid. Interest shall not be paid on sums deducted from a Participant’s Compensation pursuant to the Plan or otherwise
    credited to the Participant’s Plan account.


 


	11.	PURCHASE
    OF SHARES.


 


	 	11.1.	Exercise
    of Purchase Right.


 


	 	a.	Generally.
    Except as provided in Section 11.1.b, on each Purchase Date of an Offering Period, each Participant who has not withdrawn from
    the Plan and whose participation in the Offering has not otherwise terminated before such Purchase Date shall automatically acquire
    pursuant to the exercise of the Participant’s Purchase Right the number of whole shares of Stock determined by dividing (a)
    the total amount of the Participant’s payroll deductions accumulated in the Participant’s Plan account during the Offering
    Period and not previously applied toward the purchase of Stock by (b) the Purchase Price. However, in no event shall the number of
    shares purchased by the Participant during an Offering Period exceed the number of shares subject to the Participant’s Purchase
    Right. No shares of Stock shall be purchased on a Purchase Date on behalf of a Participant whose participation in the Offering or
    the Plan has terminated before such Purchase Date.
	 	 	 
	 	b.	Purchase
    by Non-United States Participants for Whom Payroll Deductions Are Prohibited by Applicable Law. Notwithstanding Section 11.1.a,
    where payroll deductions on behalf of Participants who are citizens or residents of countries other than the United States (without
    regard to whether they are also citizens of the United States or resident aliens) are prohibited by applicable law, the Committee
    may establish a separate Offering (a “Non-United States Offering”) covering all Eligible Employees of one
    or more Participating Companies subject to such prohibition on payroll deductions. The Non-United States Offering shall provide another
    method for payment of the Purchase Price with such terms and conditions as shall be administratively convenient and comply with applicable
    law. On each Purchase Date of the Offering Period applicable to a Non-United States Offering, each Participant who has not withdrawn
    from the Plan and whose participation in such Offering Period has not otherwise terminated before such Purchase Date shall automatically
    acquire pursuant to the exercise of the Participant’s Purchase Right a number of whole shares of Stock determined in accordance
    with
	 	 	 
	 	 	Section
    11.1.a to the extent of the total amount of the Participant’s Plan account balance accumulated during the Offering Period in
    accordance with the method established by the Committee and not previously applied toward the purchase of Stock. However, in no event
    shall the number of shares purchased by a Participant during such Offering Period exceed the number of shares subject to the Participant’s
    Purchase Right. The Company shall refund to a Participant in a Non-United States Offering in accordance with Section 11.4 any excess
    Purchase Price payment received from such Participant.


 




    	 



    	 



    

 


	 	11.2.	Pro
    Rata Allocation of Shares. If the number of shares of Stock which might be purchased by all Participants on a Purchase Date exceeds
    the number of shares of Stock available for issuance under the Plan or the maximum aggregate number of shares of Stock that may be
    purchased on such Purchase Date pursuant to a limit established by the Committee pursuant to Section 8.1, the Company shall make
    a pro rata allocation of the shares available in as uniform a manner as practicable and as the Company determines to be equitable.
    Any fractional share resulting from such pro rata allocation to any Participant shall be disregarded.
	 	 	 
	 	11.3.
    	Delivery
    of Title to Shares. Subject to any governing rules or regulations, as soon as practicable after each Purchase Date, the Company
    shall issue or cause to be issued to or for the benefit of each Participant the shares of Stock acquired by the Participant on such
    Purchase Date by means of one or more of the following: (a) by delivering to the Participant evidence of book entry shares of Stock
    credited to the account of the Participant, (b) by depositing such shares of Stock for the benefit of the Participant with any broker
    with which the Participant has an account relationship, or (c) by delivering such shares of Stock to the Participant in certificate
    form.
	 	 	 
	 	11.4.	Return
    of Plan Account Balance. Any cash balance remaining in a Participant’s Plan account following any Purchase Date shall be
    refunded to the Participant as soon as practicable after such Purchase Date. However, if the cash balance to be returned to a Participant
    pursuant to the preceding sentence is less than the amount that would have been necessary to purchase an additional whole share of
    Stock on such Purchase Date, the Company may retain the cash balance in the Participant’s Plan account to be applied toward
    the purchase of shares of Stock in the subsequent Purchase Period or Offering Period, at the option of the Participant.
	 	 	 
	 	11.5.	Tax
    Withholding. At the time a Participant’s Purchase Right is exercised, in whole or in part, or at the time a Participant
    disposes of some or all of the shares of Stock he or she acquires under the Plan, the Participant shall make adequate provision for
    the federal, state, local and foreign taxes (including social insurance), if any, required to be withheld by any Participating Company
    upon exercise of the Purchase Right or upon such disposition of shares, respectively. A Participating Company may, but shall not
    be obligated to, withhold from the Participant’s compensation the amount necessary to meet such withholding obligations.
	 	 	 
	 	11.6.	Expiration
    of Purchase Right. Any portion of a Participant’s Purchase Right remaining unexercised after the end of the Offering Period
    to which the Purchase Right relates shall expire immediately upon the end of the Offering Period.
	 	 	 
	 	11.7.	Provision
    of Reports and Shareholder Information to Participants. Each Participant who has exercised all or part of his or her Purchase
    Right shall receive, as soon as practicable after the Purchase Date, a report of such Participant’s Plan account setting forth
    the total amount credited to his or her Plan account prior to such exercise, the number of shares of Stock purchased, the Purchase
    Price for such shares, the date of purchase and the cash balance, if any, remaining immediately after such purchase that is to be
    refunded or retained in the Participant’s Plan account pursuant to Section 11.4. The report required by this Section may be
    delivered in such form and by such means, including by electronic transmission, as the Company may determine. In addition, each Participant
    shall be provided information concerning the Company equivalent to that information provided generally to the Company’s common
    shareholders.


 




    	 



    	 



    

 


	12.	WITHDRAWAL
    FROM PLAN.


 


	 	12.1.	Voluntary
    Withdrawal from the Plan. A Participant may withdraw from the Plan by signing and delivering to the Company office or representative
    designated by the Company (including a third-party administrator designated by the Company) a written or electronic notice of withdrawal
    on a form provided by the Company for this purpose. Such withdrawal may be elected at any time prior to the end of an Offering Period;
    provided, however, that if a Participant withdraws from the Plan after a Purchase Date, the withdrawal shall not affect shares of
    Stock acquired by the Participant on such Purchase Date. A Participant who voluntarily withdraws from the Plan is prohibited from
    resuming participation in the Plan in the same Offering from which he or she withdrew and in the Offering immediately following the
    offering from which he or she withdrew, but may participate in any subsequent Offering by again satisfying the requirements of Sections
    5 and 7.1. The Company may impose, from time to time, a requirement that the notice of withdrawal from the Plan be on file with the
    Company office or representative designated by the Company for a reasonable period prior to the effectiveness of the Participant’s
    withdrawal.
	 	 	 
	 	12.2.	Return
    of Plan Account Balance. Upon a Participant’s voluntary withdrawal from the Plan pursuant to Section 12.1, the Participant’s
    accumulated Plan account balance which has not been applied toward the purchase of shares of Stock shall be refunded to the Participant
    as soon as practicable after the withdrawal, without the payment of any interest, and the Participant’s interest in the Plan
    and the Offering shall terminate. Such amounts to be refunded in accordance with this Section may not be applied to any other Offering
    under the Plan.


 


	13.	TERMINATION
    OF EMPLOYMENT OR ELIGIBILITY.


 


Upon
a Participant’s ceasing, prior to a Purchase Date, to be an Employee of the Participating Company Group for any reason, including
retirement, disability or death, or upon the failure of a Participant to remain an Eligible Employee, the Participant’s participation
in the Plan shall terminate immediately. In such event, the Participant’s Plan account balance which has not been applied toward
the purchase of shares of Stock shall, as soon as practicable, be returned to the Participant or, in the case of the Participant’s
death, to the Participant’s beneficiary designated in accordance with Section 20, if any, or legal representative, and all of the
Participant’s rights under the Plan shall terminate. Interest shall not be paid on sums returned pursuant to this Section 13. A
Participant whose participation has been so terminated may again become eligible to participate in the Plan by satisfying the requirements
of Sections 5 and 7.1.


 


	14.	EFFECT
    OF CHANGE IN CONTROL ON PURCHASE RIGHTS.


 


In
the event of a Change in Control, the surviving, continuing, successor, or purchasing corporation or parent thereof, as the case may
be (the “Acquiring Corporation”), may, without the consent of any Participant, assume or continue the Company’s
rights and obligations under outstanding Purchase Rights or substitute substantially equivalent purchase rights for the Acquiring Corporation’s
stock. If the Acquiring Corporation elects not to assume, continue or substitute for the outstanding Purchase Rights, the Purchase Date
of the then current Offering Period shall be accelerated to a date before the date of the Change in Control specified by the Committee,
but the number of shares of Stock subject to outstanding Purchase Rights shall not be adjusted. All Purchase Rights which are neither
assumed or continued by the Acquiring Corporation in connection with the Change in Control nor exercised as of the date of the Change
in Control shall terminate and cease to be outstanding effective as of the date of the Change in Control.


 


	15.	NONTRANSFERABILITY
    OF PURCHASE RIGHTS.


 


Neither
payroll deductions or other amounts credited to a Participant’s Plan account nor a Participant’s Purchase Right may be assigned,
transferred, pledged or otherwise disposed of in any manner other than as provided by the Plan or by will or the laws of descent and
distribution. (A beneficiary designation pursuant to Section 20 shall not be treated as a disposition for this purpose.) Any such attempted
assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as an election
to withdraw from the Plan as provided in Section 12.1. A Purchase Right shall be exercisable during the lifetime of the Participant only
by the Participant.


 




    	 



    	 



    

 


	16.	COMPLIANCE
    WITH SECURITIES LAW.


 


The
issuance of shares under the Plan shall be subject to compliance with all applicable requirements of federal, state and foreign law with
respect to such securities. A Purchase Right may not be exercised if the issuance of shares upon such exercise would constitute a violation
of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any securities exchange
or market system upon which the Stock may then be listed. In addition, no Purchase Right may be exercised unless (a) a registration statement
under the Securities Act shall at the time of exercise of the Purchase Right be in effect with respect to the shares issuable upon exercise
of the Purchase Right, or (b) in the opinion of legal counsel to the Company, the shares issuable upon exercise of the Purchase Right
may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act. The inability
of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel
to be necessary to the lawful issuance and sale of any shares under the Plan shall relieve the Company of any liability in respect of
the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to the exercise
of a Purchase Right, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate, to evidence
compliance with any applicable law or regulation, and to make any representation or warranty with respect thereto as may be requested
by the Company.


 


	17.	RIGHTS
    AS A SHAREHOLDER AND EMPLOYEE.


 


A
Participant shall have no rights as a shareholder by virtue of the Participant’s participation in the Plan until the date of the
issuance of the shares of Stock purchased pursuant to the exercise of the Participant’s Purchase Right (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for dividends,
distributions or other rights for which the record date is prior to the date such shares are issued, except as provided in Section 4.2.
Nothing herein shall confer upon a Participant any right to continue in the employ of the Participating Company Group or interfere in
any way with any right of the Participating Company Group to terminate the Participant’s employment at any time.


 


	18.	NOTIFICATION
    OF DISPOSITION OF SHARES.


 


The
Company may require the Participant to give the Company prompt notice of any disposition of shares of Stock acquired by exercise of a
Purchase Right. The Company may require that until such time as a Participant disposes of shares of Stock acquired upon exercise of a
Purchase Right, the Participant shall hold all such shares in the Participant’s name until the later of two years after the date
of grant of such Purchase Right or one year after the date of exercise of such Purchase Right. The Company may direct that the certificates
evidencing shares of Stock acquired by exercise of a Purchase Right refer to such requirement to give prompt notice of disposition.


 


	19.	LEGENDS.


 


The
Company may at any time place legends or other identifying symbols referencing any applicable federal, state or foreign securities law
restrictions or any provision convenient in the administration of the Plan on some or all of the certificates representing shares of
Stock issued under the Plan. The Participant shall, at the request of the Company, promptly present to the Company any and all certificates
representing shares acquired pursuant to a Purchase Right in the possession of the Participant in order to carry out the provisions of
this Section. Unless otherwise specified by the Company, legends placed on such certificates may include but shall not be limited to
the following:


 


“THE
SHARES EVIDENCED BY THIS CERTIFICATE WERE ISSUED BY THE CORPORATION TO THE REGISTERED HOLDER UPON THE PURCHASE OF SHARES UNDER AN EMPLOYEE
STOCK PURCHASE PLAN AS DEFINED IN SECTION 423 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE TRANSFER AGENT FOR THE SHARES EVIDENCED
HEREBY SHALL NOTIFY THE CORPORATION IMMEDIATELY OF ANY TRANSFER OF THE SHARES BY THE REGISTERED HOLDER HEREOF. THE REGISTERED HOLDER
SHALL HOLD ALL SHARES PURCHASED UNDER THE PLAN IN THE REGISTERED HOLDER’S NAME (AND NOT IN THE NAME OF ANY NOMINEE).”


 




    	 



    	 



    

 


	20.	DESIGNATION
    OF BENEFICIARY.


 


	 	20.1.
    	Designation
    Procedure. Subject to local laws and procedures, a Participant may file a written designation of a beneficiary who is to receive
    (a) shares and cash, if any, from the Participant’s Plan account if the Participant dies subsequent to a Purchase Date but
    prior to delivery to the Participant of such shares and cash, or (b) cash, if any, from the Participant’s Plan account if the
    Participant dies prior to the exercise of the Participant’s Purchase Right. If a married Participant designates a beneficiary
    other than the Participant’s spouse, the effectiveness of such designation may be subject to the consent of the Participant’s
    spouse. A Participant may change his or her beneficiary designation at any time by written notice to the Company.
	 	 	 
	 	20.2.	 Absence
    of Beneficiary Designation. If a Participant dies without an effective designation pursuant to Section 20.1 of a beneficiary
    who is living at the time of the Participant’s death, the Company shall deliver any shares or cash credited to the Participant’s
    Plan account to the Participant’s legal representative or as otherwise required by applicable law.


 


	21.	NOTICES.


 


All
notices or other communications by a Participant to the Company under or in connection with the Plan shall be deemed to have been duly
given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt
thereof.


 


	22.	AMENDMENT
    OR TERMINATION OF THE PLAN.


 


The
Committee may at any time amend, suspend or terminate the Plan, except that (a) no such amendment, suspension or termination shall affect
Purchase Rights previously granted under the Plan unless expressly provided by the Committee, and (b) no such amendment, suspension or
termination may adversely affect a Purchase Right previously granted under the Plan without the consent of the Participant, except to
the extent permitted by the Plan or as may be necessary to qualify the Plan as an employee stock purchase plan pursuant to Section 423
of the Code or to comply with any applicable law, regulation or rule. In addition, an amendment to the Plan must be approved by the shareholders
of the Company within twelve (12) months of the adoption of such amendment if such amendment would authorize the sale of more shares
than are then authorized for issuance under the Plan or would change the definition of the corporations that may be designated by the
Committee as Participating Companies. Notwithstanding the foregoing, in the event that the Committee determines that continuation of
the Plan or an Offering would result in unfavorable financial accounting consequences to the Company, the Committee may, in its discretion
and without the consent of any Participant, including with respect to an Offering Period then in progress: (i) terminate the Plan or
any Offering Period, (ii) accelerate the Purchase Date of any Offering Period, (iii) reduce the discount or the method of determining
the Purchase Price in any Offering Period (e.g., by determining the Purchase Price solely on the basis of the Fair Market Value on the
Purchase Date), (iv) reduce the maximum number of shares of Stock that may be purchased in any Offering Period, or (v) take any combination
of the foregoing actions.