Exhibit 10.1


 


ALLARITY
THERAPEUTICS, INC.


 


2021
Equity Incentive Plan


 


1. PURPOSE.
The purpose of this Plan is to provide incentives to attract, retain, and motivate eligible persons whose present and potential contributions
are important to the success of the Company, and any Parents, Subsidiaries, and Affiliates that exist now or in the future, by offering
them an opportunity to participate in the Company’s future performance through the grant of Awards. Capitalized terms not defined
elsewhere in the text are defined in Section 28.


 


2. SHARES
SUBJECT TO THE PLAN.


 


2.1. Number
of Shares Available. Subject to Sections 2.6 and 21 and any other applicable provisions hereof, the total number of Shares reserved and
available for grant and issuance pursuant to this Plan as of the date of adoption of the Plan by the Board, is [One Million One Hundred
Sixty Eight Thousand Three Hundred Thirty (1,168,330) Shares, plus an amount derived by the difference between fifteen percent (15%)
of the Company’s issued and outstanding shares of Common Stock issued in the Company’s Recapitalization Share Exchange covered
by the Company’s registration statement on Form S-4 (SEC File No. 333- 258968) and One Million One Hundred Sixty Eight Thousand
Three Hundred Thirty (1,168,330) Shares. For the sake of clarity, the initial number of Shares reserved and available for grant as of
the date of adoption of the Plan by the Board is an amount equal to fifteen percent (15%) of the Company’s issued and outstanding
shares of Common Stock issued in the Company’s Recapitalization Share Exchange covered by the Company’s registration statement
on Form S-4 (SEC File No. 333- 258968).


 


2.2. Lapsed,
Returned Awards. Shares subject to Awards, and Shares issued under the Plan under any Award, will again be available for grant and issuance
in connection with subsequent Awards under this Plan to the extent such Shares: (a) are subject to issuance upon exercise of an Option
or SAR granted under this Plan but which cease to be subject to the Option or SAR for any reason other than exercise of the Option or
SAR, (b) are subject to Awards granted under this Plan that are forfeited or are repurchased by the Company at the original issue price,
(c) are subject to Awards granted under this Plan that otherwise terminate without such Shares being issued or (d) are surrendered pursuant
to an Exchange Program. To the extent an Award under the Plan is paid out in cash or other property rather than Shares, such cash payment
will not result in reducing the number of Shares available for issuance under the Plan. Shares used to satisfy the tax withholding obligations
related to an RSU will become available for future grant or sale under the Plan. Shares used to pay the exercise price of an Award or
withheld to satisfy the tax withholding obligations related to an Award will become available for grant and issuance in connection with
subsequent Awards under this Plan. For the avoidance of doubt, Shares that otherwise become available for grant and issuance because
of the provisions of this Section 2.2 will not include Shares subject to Awards that initially became available because of the substitution
clause in Section 21.2 hereof.


 


2.3. Minimum
Share Reserve. At all times the Company will reserve and keep available a sufficient number of Shares as will be required to satisfy
the requirements of all outstanding Awards granted under this Plan.


 


2.4. Automatic
Share Reserve Increase. The number of Shares available for grant and issuance under the Plan will be increased on January 1st
of each of 2022 through 2031, by the lesser of (a) Five percent (5%) of the number of shares of all classes of the Company’s common
stock issued and outstanding on each December 31 immediately prior to the date of increase or (b) such number of Shares determined by
the Board.


 


2.5. ISO
Limitation. No more than Seven Million Nine Thousand Nine Hundred Eighty (7,009.980) Shares will be issued pursuant to the exercise of
ISOs granted under the Plan.


 


2.6. Adjustment
of Shares. If the number or class of outstanding Shares is changed by a stock dividend, extraordinary dividend or distribution (whether
in cash, shares, or other property, other than a regular cash dividend), recapitalization, stock split, reverse stock split, subdivision,
combination, consolidation, reclassification, spin-off, or similar change in the capital structure of the Company, without consideration,
then (a) the number and class of Shares reserved for issuance and future grant under the Plan set forth in Section 2.1, including Shares
reserved under sub-clauses (a)-(e) of Section 2.1, (b) the Exercise Prices of and number and class of Shares subject to outstanding Options
and SARs, (c) the number and class of Shares subject to other outstanding Awards, and (d) the maximum number and class of Shares that
may be issued as ISOs set forth in Section 2.5, will be proportionately adjusted, subject to any required action by the Board or the
stockholders of the Company and in compliance with applicable securities or other laws, provided that fractions of a Share will not be
issued.


 






     


     


    

 


If,
by reason of an adjustment pursuant to this Section 2.6, a Participant’s Award Agreement or other agreement related to any Award,
or the Shares subject to such Award, covers additional or different shares of stock or securities, then such additional or different
shares, and the Award Agreement or such other agreement in respect thereof, will be subject to all of the terms, conditions, and restrictions
which were applicable to the Award or the Shares subject to such Award prior to such adjustment.


 


3. ELIGIBILITY.
ISOs may be granted only to Employees. All other Awards may be granted to Employees, Consultants, Directors, and Non-Employee Directors,
provided that such Consultants, Directors, and Non-Employee Directors render bona fide services not in connection with the offer and
sale of securities in a capital-raising transaction.


 


4. ADMINISTRATION.


 


4.1. Committee
Composition; Authority. This Plan will be administered by the Committee or by the Board acting as the Committee. Subject to the general
purposes, terms, and conditions of this Plan, and to the direction of the Board, the Committee will have full power to implement and
carry out this Plan, except, however, the Board will establish the terms for the grant of an Award to Non-Employee Directors. The Committee
will have the authority to:


 


(a)
construe and interpret this Plan, any Award Agreement, and any other agreement or document executed pursuant to this
Plan;


 


(b) prescribe,
amend, and rescind rules and regulations relating to this Plan or any Award;


 


(c) select
persons to receive Awards;


 


(d) determine
the form and terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and conditions
include, but are not limited to, the Exercise Price, the time or times when Awards may vest and be exercised (which may be based on performance
criteria) or settled, any vesting acceleration or waiver of forfeiture restrictions, the method to satisfy tax withholding obligations
or any other tax liability legally due, and any restriction or limitation regarding any Award or the Shares relating thereto, based in
each case on such factors as the Committee will determine;


 


(e) determine
the number of Shares or other consideration subject to Awards;


 


(f) determine
the Fair Market Value in good faith and interpret the applicable provisions of this Plan and the definition of Fair Market Value in connection
with circumstances that impact the Fair Market Value, if necessary;


 


(g) determine
whether Awards will be granted singly, in combination with, in tandem with, in replacement of, or as alternatives to, other Awards under
this Plan or any other incentive or compensation plan of the Company or any Parent, Subsidiary, or Affiliate;


 


(h) grant
waivers of Plan or Award conditions;


 


(i) determine
the vesting, exercisability, and payment of Awards;


 


(j) correct
any defect, supply any omission or reconcile any inconsistency in this Plan, any Award or any Award Agreement;


 


(k) determine
whether an Award has been vested and/or earned;


 






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(l) determine
the terms and conditions of any, and to institute any Exchange Program;


 


(m) reduce,
waive or modify any criteria with respect to Performance Factors;


 


(n) adjust
Performance Factors to take into account changes in law and accounting or tax rules as the Committee deems necessary or appropriate to
reflect the impact of extraordinary or unusual items, events, or circumstances to avoid windfalls or hardships;


 


(o) adopt
terms and conditions, rules, and/or procedures (including the adoption of any subplan under this Plan) relating to the operation and
administration of the Plan to accommodate requirements of local law and procedures outside of the United States or to qualify Awards
for special tax treatment under laws of jurisdictions other than the United States;


 


(p) exercise
discretion with respect to Performance Awards;


 


(q) make
all other determinations necessary or advisable for the administration of this Plan; and


 


(r) delegate
any of the foregoing to a subcommittee or to one or more executive officers pursuant to a specific delegation as permitted by applicable
law, including Section 157(c) of the Delaware General Corporation Law.


 


4.2. Committee
Interpretation and Discretion. Any determination made by the Committee with respect to any Award will be made in its sole discretion
at the time of grant of the Award or, unless in contravention of any express term of the Plan or Award, at any later time, and such determination
will be final and binding on the Company and all persons having an interest in any Award under the Plan. Any dispute regarding the interpretation
of the Plan or any Award Agreement will be submitted by the Participant or Company to the Committee for review. The resolution of such
a dispute by the Committee will be final and binding on the Company and the Participant. The Committee may delegate to one or more executive
officers the authority to review and resolve disputes with respect to Awards held by Participants who are not Insiders, and such resolution
will be final and binding on the Company and the Participant.


 


4.3. Section
16 of the Exchange Act. Awards granted to Participants who are subject to Section 16 of the Exchange Act must be approved by two or more
“non-employee directors” (as defined in the regulations promulgated under Section 16 of the Exchange Act).


 


4.4. Documentation.
The Award Agreement for a given Award, the Plan, and any other documents may be delivered to, and accepted by, a Participant or any other
person in any manner (including electronic distribution or posting) that meets applicable legal requirements.


 


4.5. Foreign
Award Recipients. Notwithstanding any provision of the Plan to the contrary, in order to comply with the laws and practices in other
countries in which the Company, its Subsidiaries, and Affiliates operate or have Employees or other individuals eligible for Awards,
the Committee, in its sole discretion, will have the power and authority to: (a) determine which Subsidiaries and Affiliates will be
covered by the Plan; (b) determine which individuals outside the United States are eligible to participate in the Plan, which may include
individuals who provide services to the Company, Subsidiary or Affiliate under an agreement with a foreign nation or agency; (c) modify
the terms and conditions of any Award granted to individuals outside the United States or foreign nationals to comply with applicable
foreign laws, policies, customs, and practices; (d) establish subplans and modify exercise procedures, vesting conditions, and other
terms and procedures to the extent the Committee determines such actions to be necessary or advisable (and such subplans and/or modifications
will be attached to this Plan as appendices, if necessary); and (e) take any action, before or after an Award is made, that the Committee
determines to be necessary or advisable to obtain approval or comply with any local governmental regulatory exemptions or approvals,
provided, however, that no action taken under this Section 4.5 will increase the Share limitations contained in Section 2.1 hereof. Notwithstanding
the foregoing, the Committee may not take any actions hereunder, and no Awards will be granted, that would violate the Exchange Act or
any other applicable United States securities law, the Code, or any other applicable United States governing statute or law.


 






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5. OPTIONS.
An Option is the right but not the obligation to purchase a Share, subject to certain conditions, if applicable. The Committee may grant
Options to eligible Employees, Consultants, and Directors and will determine whether such Options will be Incentive Stock Options within
the meaning of the Code (“ISOs”) or Nonqualified Stock Options (“NSOs”), the number
of Shares subject to the Option, the Exercise Price of the Option, the period during which the Option may vest and be exercised, and
all other terms and conditions of the Option, subject to the following terms of this section.


 


5.1. Option
Grant. Each Option granted under this Plan will identify the Option as an ISO or an NSO. An Option may be, but need not be, awarded upon
satisfaction of such Performance Factors during any Performance Period as are set out in advance in the Participant’s individual
Award Agreement. If the Option is being earned upon the satisfaction of Performance Factors, then the Committee will: (a) determine the
nature, length, and starting date of any Performance Period for each Option; and (b) select from among the Performance Factors to be
used to measure the performance, if any. Performance Periods may overlap and Participants may participate simultaneously with respect
to Options that are subject to different performance goals and other criteria.


 


5.2. Date
of Grant. The date of grant of an Option will be the date on which the Committee makes the determination to grant such Option, or a specified
future date. The Award Agreement and a copy of this Plan will be delivered to the Participant within a reasonable time after the granting
of the Option.


 


5.3. Exercise
Period. Options may be vested and exercisable within the times or upon the conditions as set forth in the Award Agreement governing such
Option, provided, however, that no Option will be exercisable after the expiration of ten (10) years from the date the Option is granted
and provided further that no ISO granted to a person who, at the time the ISO is granted, directly or by attribution owns more than ten
percent (10%) of the total combined voting power of all classes of stock of the Company or of any Parent or Subsidiary (“Ten
Percent Stockholder”) will be exercisable after the expiration of five (5) years from the date the ISO is granted. The
Committee also may provide for Options to become exercisable at one time or from time to time, periodically or otherwise, in such number
of Shares or percentage of Shares as the Committee determines.


 


5.4. Exercise
Price. The Exercise Price of an Option will be determined by the Committee when the Option is granted, provided that: (a) the Exercise
Price of an Option will be not less than one hundred percent (100%) of the Fair Market Value of the Shares on the date of grant, and
(b) the Exercise Price of any ISO granted to a Ten Percent Stockholder will not be less than one hundred ten percent (110%) of the Fair
Market Value of the Shares on the date of grant. Payment for the Shares purchased may be made in accordance with Section 11 and the Award
Agreement and in accordance with any procedures established by the Company.


 


5.5. Method
of Exercise. Any Option granted hereunder will be vested and exercisable according to the terms of the Plan and at such times and under
such conditions as determined by the Committee and set forth in the Award Agreement. An Option may not be exercised for a fraction of
a Share. An Option will be deemed exercised when the Company receives: (a) notice of exercise (in such form as the Committee may specify
from time to time) from the person entitled to exercise the Option (and/or via electronic execution through the authorized third-party
administrator), and (b) full payment for the Shares with respect to which the Option is exercised (together with applicable withholding
taxes). Full payment may consist of any consideration and method of payment authorized by the Committee and permitted by the Award Agreement
and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant. Until the Shares are issued (as
evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote
or receive dividends or any other rights as a stockholder will exist with respect to the Shares, notwithstanding the exercise of the
Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made
for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 2.6
of the Plan. Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan
and for sale under the Option, by the number of Shares as to which the Option is exercised.


 






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5.6. Termination
of Service. If the Participant’s Service terminates for any reason except for Cause or the Participant’s death or Disability,
then the Participant may exercise such Participant’s Options only to the extent that such Options would have been exercisable by
the Participant on the date Participant’s Service terminates no later than three (3) months after the date Participant’s
Service terminates (or such shorter or longer time period as may be determined by the Committee, with any exercise of an ISO beyond three
(3) months after the date Participant’s employment terminates deemed to be the exercise of an NSO), but in any event no later than
the expiration date of the Options.


 


(a)  Death.
If the Participant’s Service terminates because of the Participant’s death (or the Participant dies within three (3) months
after Participant’s Service terminates other than for Cause or because of the Participant’s Disability), then the Participant’s
Options may be exercised only to the extent that such Options would have been exercisable by the Participant on the date Participant’s
Service terminates and must be exercised by the Participant’s legal representative, or authorized assignee, no later than twelve
(12) months after the date Participant’s Service terminates (or such shorter or longer time period as may be determined by the
Committee), but in any event no later than the expiration date of the Options.


 


(b)  Disability.
If the Participant’s Service terminates because of the Participant’s Disability, then the Participant’s Options may
be exercised only to the extent that such Options would have been exercisable by the Participant on the date Participant’s Service
terminates and must be exercised by the Participant (or the Participant’s legal representative or authorized assignee) no later
than twelve (12) months after the date Participant’s Service terminates (or such shorter or longer time period as may be determined
by the Committee, with any exercise beyond (a) three (3) months after the date Participant’s employment terminates when the termination
of Service is for a Disability that is not a “permanent and total disability” as defined in Section 22(e)(3) of the Code
or (b) twelve (12) months after the date Participant’s employment terminates when the termination of Service is for a Disability
that is a “permanent and total disability” as defined in Section 22(e)(3) of the Code, deemed to be exercise of an NSO),
but in any event no later than the expiration date of the Options.


 


(c)  Cause.
Unless otherwise determined by the Committee, if the Participant’s Service terminates for Cause, then Participant’s Options
(whether or not vested) will expire on the date of termination of Participant’s Service if the Committee has reasonably determined
in good faith that such cessation of Services has resulted in connection with an act or failure to act constituting Cause (or such Participant’s
Services could have been terminated for Cause (without regard to the lapsing of any required notice or cure periods in connection therewith)
at the time such Participant terminated Service), or at such later time and on such conditions as are determined by the Committee, but
in any event no later than the expiration date of the Options. Unless otherwise provided in an employment agreement, Award Agreement,
or other applicable agreement, Cause will have the meaning set forth in the Plan.


 


5.7. Limitations
on ISOs. With respect to Awards granted as ISOs, to the extent that the aggregate Fair Market Value of the Shares with respect to which
such ISOs are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent
or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options will be treated as NSOs. For purposes of this Section 5.7,
ISOs will be taken into account in the order in which they were granted. The Fair Market Value of the Shares will be determined as of
the time the Option with respect to such Shares is granted. In the event that the Code or the regulations promulgated thereunder are
amended after the Effective Date to provide for a different limit on the Fair Market Value of Shares permitted to be subject to ISOs,
such different limit will be automatically incorporated herein and will apply to any Options granted after the effective date of such
amendment.


 


5.8. Modification,
Extension or Renewal. The Committee may modify, extend, or renew outstanding Options and authorize the grant of new Options in substitution
therefor, provided that any such action may not, without the written consent of a Participant, impair any of such Participant’s
rights under any Option previously granted. Any outstanding ISO that is modified, extended, renewed, or otherwise altered will be treated
in accordance with Section 424(h) of the Code. Subject to Section 18 of this Plan, by written notice to affected Participants, the Committee
may reduce the Exercise Price of outstanding Options without the consent of such Participants, provided, however, that the Exercise Price
may not be reduced below the Fair Market Value on the date the action is taken to reduce the Exercise Price.


 






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5.9. No
Disqualification. Notwithstanding any other provision in this Plan, no term of this Plan relating to ISOs will be interpreted, amended,
or altered, nor will any discretion or authority granted under this Plan be exercised, so as to disqualify this Plan under Section 422
of the Code or, without the consent of the Participant affected, to disqualify any ISO under Section 422 of the Code.


 


6. RESTRICTED
STOCK UNITS. A Restricted Stock Unit (“RSU”) is an award to an eligible Employee, Consultant, or Director
covering a number of Shares that may be settled by issuance of those Shares (which may consist of Restricted Stock) or in cash. All RSUs
will be made pursuant to an Award Agreement.


 


6.1. Terms
of RSUs. The Committee will determine the terms of an RSU including, without limitation: (a) the number of Shares subject to the RSU,
(b) the time or times during which the RSU may be settled, (c) the consideration to be distributed on settlement, and (d) the effect
of the Participant’s termination of Service on each RSU, provided that no RSU will have a term longer than ten (10) years. An RSU
may be awarded upon satisfaction of such performance goals based on Performance Factors during any Performance Period as are set out
in advance in the Participant’s Award Agreement. If the RSU is being earned upon satisfaction of Performance Factors, then the
Committee will: (i) determine the nature, length, and starting date of any Performance Period for the RSU; (ii) select from among the
Performance Factors to be used to measure the performance, if any; and (iii) determine the number of Shares deemed subject to the RSU.
Performance Periods may overlap and Participants may participate simultaneously with respect to RSUs that are subject to different Performance
Periods and different performance goals and other criteria. The Committee may adjust the performance goals to account for changes in
law and accounting and to make such adjustments as the Committee deems necessary or appropriate to reflect the impact of extraordinary
or unusual items, events or circumstances to avoid windfalls or hardships, including without limitation (i) restructurings, discontinued
operations, extraordinary items, and other unusual or non-recurring changes, (ii) an event either not directly related to the operations
of the Company or not within the reasonable control of the Company’s management, or (iii) a change in accounting standards required
by generally accepted accounting principles.


 


6.2. Form
and Timing of Settlement. Payment of earned RSUs will be made as soon as practicable after the date(s) determined by the Committee and
set forth in the Award Agreement. The Committee, in its sole discretion, may settle earned RSUs in cash, Shares, or a combination of
both. The Committee may also permit a Participant to defer payment under a RSU to a date or dates after the RSU is earned, provided that
the terms of the RSU and any deferral satisfy the requirements of Section 409A of the Code to the extent applicable.


 


6.3. Termination
of Service. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on such date Participant’s Service
terminates (unless determined otherwise by the Committee).


 


7. RESTRICTED
STOCK AWARDS. A Restricted Stock Award is an offer by the Company to sell to an eligible Employee, Consultant, or Director Shares
that are subject to restrictions (“Restricted Stock”). The Committee will determine to whom an offer will be
made, the number of Shares the Participant may purchase, the Purchase Price, the restrictions under which the Shares will be subject,
and all other terms and conditions of the Restricted Stock Award, subject to the Plan.


 


7.1. Restricted
Stock Purchase Agreement. All purchases under a Restricted Stock Award will be evidenced by an Award Agreement. Except as may otherwise
be provided in an Award Agreement, a Participant accepts a Restricted Stock Award by signing and delivering to the Company an Award Agreement
with full payment of the Purchase Price, within thirty (30) days from the date the Award Agreement was delivered to the Participant.
If the Participant does not accept such Award within thirty (30) days, then the offer to purchase such Restricted Stock Award will terminate,
unless the Committee determines otherwise.


 


7.2. Purchase
Price. The Purchase Price for Shares issued pursuant to a Restricted Stock Award will be determined by the Committee and may be less
than Fair Market Value on the date the Restricted Stock Award is granted. Payment of the Purchase Price must be made in accordance with
Section 11 of the Plan, and the Award Agreement and in accordance with any procedures established by the Company.


 


7.3. Terms
of Restricted Stock Awards. Restricted Stock Awards will be subject to such restrictions as the Committee may impose or are required
by law. These restrictions may be based on completion of a specified period of Service with the Company or upon completion of Performance
Factors, if any, during any Performance Period as set out in advance in the Participant’s Award Agreement. Prior to the grant of
a Restricted Stock Award, the Committee will: (a) determine the nature, length, and starting date of any Performance Period for the Restricted
Stock Award; (b) select from among the Performance Factors to be used to measure performance goals, if any; and (c) determine the number
of Shares that may be awarded to the Participant. Performance Periods may overlap and a Participant may participate simultaneously with
respect to Restricted Stock Awards that are subject to different Performance Periods and having different performance goals and other
criteria.


 






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7.4. Termination
of Service. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on such date Participant’s Service
terminates (unless determined otherwise by the Committee).


 


8. STOCK
BONUS AWARDS. A Stock Bonus Award is an award to an eligible Employee, Consultant, or Director of Shares for Services to be rendered
or for past Services already rendered to the Company or any Parent, Subsidiary, or Affiliate. All Stock Bonus Awards will be made pursuant
to an Award Agreement. No payment from the Participant will be required for Shares awarded pursuant to a Stock Bonus Award.


 


8.1. Terms
of Stock Bonus Awards. The Committee will determine the number of Shares to be awarded to the Participant under a Stock Bonus Award and
any restrictions thereon. These restrictions may be based upon completion of a specified period of Service with the Company or upon satisfaction
of performance goals based on Performance Factors during any Performance Period as set out in advance in the Participant’s Stock
Bonus Agreement. Prior to the grant of any Stock Bonus Award the Committee will: (a) determine the restrictions to which the Stock Bonus
Award is subject, including the nature, length, and starting date of any Performance Period for the Stock Bonus Award; (b) select from
among the Performance Factors, if any, to be used to measure performance goals; and (c) determine the number of Shares that may be awarded
to the Participant. Performance Periods may overlap and a Participant may participate simultaneously with respect to Stock Bonus Awards
that are subject to different Performance Periods and different performance goals and other criteria.


 


8.2. Form
of Payment to Participant. Payment may be made in the form of cash, whole Shares, or a combination thereof, based on the Fair Market
Value of the Shares earned under a Stock Bonus Award on the date of payment, as determined in the sole discretion of the Committee.


 


8.3. Termination
of Service. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on such date Participant’s Service
terminates (unless determined otherwise by the Committee).


 


9. STOCK
APPRECIATION RIGHTS. A Stock Appreciation Right (“SAR”) is an award to an eligible Employee, Consultant,
or Director that may be settled in cash or Shares (which may consist of Restricted Stock) having a value equal to (a) the difference
between the Fair Market Value on the date of exercise over the Exercise Price multiplied by (b) the number of Shares with respect to
which the SAR is being settled (subject to any maximum number of Shares that may be issuable as specified in an Award Agreement). All
SARs will be made pursuant to an Award Agreement.


 


9.1. Terms
of SARs. The Committee will determine the terms of each SAR including, without limitation: (a) the number of Shares subject to the SAR,
(b) the Exercise Price and the time or times during which the SAR may be exercised and settled, (c) the consideration to be distributed
on exercise and settlement of the SAR, and (d) the effect of the Participant’s termination of Service on each SAR. The Exercise
Price of the SAR will be determined by the Committee when the SAR is granted and may not be less than Fair Market Value of the Shares
on the date of grant. A SAR may be awarded upon satisfaction of Performance Factors, if any, during any Performance Period as are set
out in advance in the Participant’s individual Award Agreement. If the SAR is being earned upon the satisfaction of Performance
Factors, then the Committee will: (i) determine the nature, length, and starting date of any Performance Period for each SAR; and (ii)
select from among the Performance Factors to be used to measure the performance, if any. Performance Periods may overlap and Participants
may participate simultaneously with respect to SARs that are subject to different Performance Factors and other criteria.


 


9.2. Exercise
Period and Expiration Date. A SAR will be exercisable within the times or upon the occurrence of events determined by the Committee and
set forth in the Award Agreement governing such SAR. The SAR Agreement will set forth the expiration date, provided that no SAR will
be exercisable after the expiration of ten (10) years from the date the SAR is granted. The Committee may also provide for SARs to become
exercisable at one time or from time to time, periodically or otherwise (including, without limitation, upon the attainment during a
Performance Period of performance goals based on Performance Factors), in such number of Shares or percentage of the Shares subject to
the SAR as the Committee determines. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on the date
Participant’s Service terminates (unless determined otherwise by the Committee). Notwithstanding the foregoing, the rules of Section
5.6 also will apply to SARs.


 






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9.3. Form
of Settlement. Upon exercise of a SAR, a Participant will be entitled to receive payment from the Company in an amount determined by
multiplying (a) the difference between the Fair Market Value of a Share on the date of exercise over the Exercise Price, by (b) the number
of Shares with respect to which the SAR is exercised. At the discretion of the Committee, the payment from the Company for the SAR exercise
may be in cash, in Shares of equivalent value, or in some combination thereof. The portion of a SAR being settled may be paid currently
or on a deferred basis with such interest, if any, as the Committee determines, provided that the terms of the SAR and any deferral satisfy
the requirements of Section 409A of the Code to the extent applicable.


 


9.4. Termination
of Service. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on the date Participant’s Service
terminates (unless determined otherwise by the Committee).


 


10.
PERFORMANCE AWARDS.


 


10.1. Types
of Performance Awards. A Performance Award is an award to an eligible Employee, Consultant, or Director that is based upon the
attainment of performance goals, as established by the Committee, and other terms and conditions specified by the Committee, and may
be settled in cash, Shares (which may consist of, without limitation, Restricted Stock), other property, or any combination thereof.
Grants of Performance Awards will be made pursuant to an Award Agreement that cites Section 10 of the Plan. The Committee may adjust
the performance goals to account for changes in law and accounting and to make such adjustments as the Committee deems necessary or
appropriate to reflect the impact of extraordinary or unusual items, events or circumstances to avoid windfalls or hardships,
including without limitation (i) restructurings, discontinued operations, extraordinary items, and other unusual or non-recurring
changes, (ii) an event either not directly related to the operations of the Company or not within the reasonable control of the
Company’s management, or (iii) a change in accounting standards required by generally accepted accounting
principles.


 


(a)
Performance Shares. The Committee may grant Awards of Performance Shares, designate the Participants to whom Performance Shares are
to be awarded, and determine the number of Performance Shares and the terms and conditions of each such Award. Each Performance
Share will have an initial value equal to the Fair Market Value of as Share on the date of grant. Performance Shares will consist of
a unit valued by reference to a designated number of Shares, the value of which may be paid to the Participant by delivery of Shares
or, if set forth in the instrument evidencing the Award, of such property as the Committee will determine, including, without
limitation, cash, Shares, other property, or any combination thereof, upon the attainment of performance goals, as established by
the Committee, and other terms and conditions specified by the Committee. The amount to be paid under an Award of Performance Shares
may be adjusted on the basis of such further consideration as the Committee will determine in its sole discretion.


 


(b) Performance
Units. The Committee may grant Awards of Performance Units, designate the Participants to whom Performance Units are to be awarded, and
determine the number of Performance Units and the terms and conditions of each such Award. Performance Units will consist of a unit valued
by reference to a designated amount of property other than Shares, which value may be paid to the Participant by delivery of such property
as the Committee will determine, including, without limitation, cash, Shares, other property, or any combination thereof, upon the attainment
of performance goals, as established by the Committee, and other terms and conditions specified by the Committee.


 


(c) Cash-Settled
Performance Awards. The Committee may also grant cash-settled Performance Awards to Participants under the terms of this Plan. Such awards
will be based on the attainment of performance goals using the Performance Factors within this Plan that are established by the Committee
for the relevant performance period.


 






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10.2. Terms
of Performance Awards. The Committee will determine, and each Award Agreement will set forth, the terms of each Performance Award
including, without limitation: (a) the amount of any cash bonus, (b) the number of Shares deemed subject to an award of Performance
Shares, (c) the Performance Factors and Performance Period that will determine the time and extent to which each award of
Performance Shares will be settled, (d) the consideration to be distributed on settlement, and (e) the effect of the
Participant’s termination of Service on each Performance Award. In establishing Performance Factors and the Performance Period
the Committee will: (i) determine the nature, length, and starting date of any Performance Period; (ii) select from among the
Performance Factors to be used; and (iii) determine the number of Shares deemed subject to the award of Performance Shares. Each
Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. Prior to settlement the
Committee will determine the extent to which Performance Awards have been earned. Performance Periods may overlap and Participants
may participate simultaneously with respect to Performance Awards that are subject to different Performance Periods and different
performance goals and other criteria.


 


10.3. Termination
of Service. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on the date Participant’s
Service terminates (unless determined otherwise by the Committee).


 


11. PAYMENT
FOR SHARE PURCHASES. Payment from a Participant for Shares purchased pursuant to this Plan may be made in cash or by check
or, where expressly approved for the Participant by the Committee and where permitted by law (and to the extent not otherwise set forth
in the applicable Award Agreement):


 


(a)
by cancellation of indebtedness of the Company to the Participant;


 


(b) by
surrender of shares of the Company held by the Participant that have a Fair Market Value on the date of surrender equal to the aggregate
exercise price of the Shares as to which said Award will be exercised or settled;


 


(c) by
waiver of compensation due or accrued to the Participant for services rendered or to be rendered to the Company or a Parent or Subsidiary
of the Company;


 


(d) by
consideration received by the Company pursuant to a broker-assisted or other form of cashless exercise program implemented by the Company
in connection with the Plan;


 


(e) by
any combination of the foregoing; or


 


(f) by
any other method of payment as is permitted by applicable law.


 


The
Committee may limit the availability of any method of payment, to the extent the Committee determines, in its discretion, such limitation
is necessary or advisable to comply with applicable law or facilitate the administration of the Plan.


 


12. GRANTS
TO NON-EMPLOYEE DIRECTORS.


 


12.1. General.
Non-Employee Directors are eligible to receive any type of Award offered under this Plan except ISOs. Awards pursuant to this
Section 12 may be automatically made pursuant to policy adopted by the Board, or made from time to time as determined in the
discretion of the Board. No Non-Employee Director may receive Awards under the Plan that, when combined with cash compensation
received for service as a Non-Employee Director, exceed Seven Hundred Fifty Thousand Dollars ($750,000) in value (as described
below) in any calendar year; provided, however, that a Non-Employee Director may receive up to One Million Dollars ($1,000,000) in
value in his or her initial year of service as a Non-Employee Director. The value of Awards for purposes of complying with this
maximum will be determined as follows: (a) for Options and SARs, grant date fair value will be calculated using the Company’s
regular valuation methodology for determining the grant date fair value of Options for reporting purposes, and (b) for all other
Awards other than Options and SARs, grant date fair value will be determined by either (i) calculating the product of the Fair
Market Value per Share on the date of grant and the aggregate number of Shares subject to the Award, or (ii) calculating the product
using an average of the Fair Market Value over a number of trading days and the aggregate number of Shares subject to the Award as
determined by the Committee. Awards granted to an individual while he or she was serving in the capacity as an Employee or while he
or she was a Consultant but not a Non-Employee Director will not count for purposes of the limitations set forth in this Section
12.1.


 






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12.2.
Eligibility. Awards pursuant to this Section 12 will be granted only to Non-Employee Directors. A Non-Employee Director who is
elected or re-elected as a member of the Board will be eligible to receive an Award under this Section 12.


 


12.3.
Vesting, Exercisability and Settlement. Except as set forth in Section 21, Awards will vest, become exercisable, and be settled as
determined by the Board. With respect to Options and SARs, the exercise price granted to Non-Employee Directors will not be less
than the Fair Market Value of the Shares at the time that such Option or SAR is granted.


 


12.4.
Election to Receive Awards in Lieu of Cash. A Non-Employee Director may elect to receive his or her annual retainer payments and/or
meeting fees from the Company in the form of cash or Awards or a combination thereof, if permitted, and as determined, by the
Committee. Such Awards will be issued under the Plan. An election under this Section 12.4 will be filed with the Company on the form
prescribed by the Company.


 


13. WITHHOLDING
TAXES.


 


13.1.
Withholding Generally. Whenever Shares are to be issued in satisfaction of Awards granted under this Plan or a tax event occurs, the
Company may require the Participant to remit to the Company, or to the Parent, Subsidiary, or Affiliate, as applicable, employing
the Participant an amount sufficient to satisfy applicable U.S. federal, state, local, and international income tax, social
insurance, payroll tax, fringe benefits tax, payment on account or other tax liability legally due from the Participant (the
tax-related items, the “Tax-Related Items”) prior to the delivery of Shares pursuant to exercise or
settlement of any Award. Whenever payments in satisfaction of Awards granted under this Plan are to be made in cash, such payment
will be net of an amount sufficient to satisfy applicable withholding obligations for Tax-Related Items. Unless otherwise determined
by the Committee, the Fair Market Value of the Shares will be determined as of the date that the taxes are required to be withheld
and such Shares will be valued based on the value of the actual trade or, if there is none, the Fair Market Value of the Shares as
of the previous trading day.


 


13.2.
Stock Withholding. The Committee, or its delegate(s), as permitted by applicable law, in its sole discretion and pursuant to such
procedures as it may specify from time to time and to limitations of local law, may require or permit a Participant to satisfy such
Tax Related Items legally due from the Participant, in whole or in part by (without limitation) (a) paying cash, (b) having the
Company withhold otherwise deliverable cash or Shares having a Fair Market Value equal to the Tax-Related Items to be withheld, (c)
delivering to the Company already-owned shares having a Fair Market Value equal to the Tax-Related Items to be withheld, or (d)
withholding from the proceeds of the sale of otherwise deliverable Shares acquired pursuant to an Award either through a voluntary
sale or through a mandatory sale arranged by the Company. The Company may withhold or account for these Tax-Related Items by
considering applicable statutory withholding rates or other applicable withholding rates, including up to the maximum permissible
statutory tax rate for the applicable tax jurisdiction, to the extent consistent with applicable laws.


 


14. TRANSFERABILITY.
Unless determined otherwise by the Committee, an Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of
in any manner other than by will or by the laws of descent or distribution. If the Committee makes an Award transferable, including,
without limitation, by instrument to an inter vivos or testamentary trust in which the Awards are to be passed to beneficiaries upon
the death of the trustor (settlor) or by gift or by domestic relations order to a Permitted Transferee, such Award will contain such
additional terms and conditions as the Committee deems appropriate. All Awards will be exercisable: (a) during the
Participant’s lifetime only by the Participant or the Participant’s guardian or legal representative; (b) after the
Participant’s death, by the legal representative of the Participant’s heirs or legatees; and (c) in the case of all
awards except ISOs, by a Permitted Transferee. Notwithstanding any contrary provision of the Plan, the Committee shall have all
discretion and authority to determine and implement the terms and conditions of any Award Transfer Program instituted pursuant to
this Section 14 and shall have the authority to amend the terms of any Award participating, or otherwise eligible to participate in,
the Award Transfer Program, including (but not limited to) the authority to (a) amend (including to extend) the expiration date,
post-termination exercise period and/or forfeiture conditions of any such Award, (b) amend or remove any provisions of the Award
relating to the Award holder’s continued service to the Company or its Parent or any Subsidiary, (c) amend the permissible
payment methods with respect to the exercise or purchase of any such Award, (d) amend the adjustments to be implemented in the event
of changes in the capitalization and other similar events with respect to such Award, and (e) make such other changes to the terms
of such Award as the Committee deems necessary or appropriate in its sole discretion.


 






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15. PRIVILEGES
OF STOCK OWNERSHIP; RESTRICTIONS ON SHARES.


 


15.1. Voting
and Dividends. No Participant will have any of the rights of a stockholder with respect to any Shares until the Shares are issued to
the Participant, except for any Dividend Equivalent Rights permitted by an applicable Award Agreement. Any Dividend Equivalent
Rights will be subject to the same vesting or performance conditions as the underlying Award. In addition, the Committee may provide
that any Dividend Equivalent Rights permitted by an applicable Award Agreement will be deemed to have been reinvested in additional
Shares or otherwise reinvested. After Shares are issued to the Participant, the Participant will be a stockholder and have all the
rights of a stockholder with respect to such Shares, including the right to vote and receive all dividends or other distributions
made or paid with respect to such Shares; provided, that if such Shares are Restricted Stock, then any new, additional or different
securities the Participant may become entitled to receive with respect to such Shares by virtue of a stock dividend, stock split or
any other change in the corporate or capital structure of the Company will be subject to the same restrictions as the Restricted
Stock; provided, further, that the Participant will have no right to such stock dividends or stock distributions with respect to
Unvested Shares, and any such dividends or stock distributions will be accrued and paid only at such time, if any, as such Unvested
Shares become vested Shares. The Committee, in its discretion, may provide in the Award Agreement evidencing any Award that the
Participant will be entitled to Dividend Equivalent Rights with respect to the payment of cash dividends on Shares underlying an
Award during the period beginning on the date the Award is granted and ending, with respect to each Share subject to the Award, on
the earlier of the date on which the Award is exercised or settled or the date on which it is forfeited provided, that no Dividend
Equivalent Right will be paid with respect to the Unvested Shares, and such dividends or stock distributions will be accrued and
paid only at such time, if any, as such Unvested Shares become vested Shares. Such Dividend Equivalent Rights, if any, will be
credited to the Participant in the form of additional whole Shares as of the date of payment of such cash dividends on
Shares.


 


15.2. Restrictions
on Shares. At the discretion of the Committee, the Company may reserve to itself and/or its assignee(s) a right to repurchase (a
“Right of Repurchase”) a portion of any or all Unvested Shares held by a Participant following such
Participant’s termination of Service at any time within ninety (90) days (or such longer or shorter time determined by the
Committee) after the later of the date Participant’s Service terminates and the date the Participant purchases Shares under
this Plan, for cash and/or cancellation of purchase money indebtedness, at the Participant’s Purchase Price or Exercise Price,
as the case may be.


 


16. CERTIFICATES.
All Shares or other securities whether or not certificated, delivered under this Plan will be subject to such stock transfer orders,
legends, and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable U.S.
federal, state, or foreign securities law, or any rules, regulations, and other requirements of the SEC or any stock exchange or
automated quotation system upon which the Shares may be listed or quoted, and any non-U.S. exchange controls or securities law
restrictions to which the Shares are subject.


 


17. ESCROW;
PLEDGE OF SHARES. To enforce any restrictions on a Participant’s Shares, the Committee may require the Participant
to deposit all certificates representing Shares, together with stock powers or other instruments of transfer approved by the
Committee, appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such
restrictions have lapsed or terminated, and the Committee may cause a legend or legends referencing such restrictions to be placed
on the certificates. Any Participant who is permitted to execute a promissory note as partial or full consideration for the purchase
of Shares under this Plan will be required to pledge and deposit with the Company all or part of the Shares so purchased as
collateral to secure the payment of the Participant’s obligation to the Company under the promissory note, provided, however,
that the Committee may require or accept other or additional forms of collateral to secure the payment of such obligation and, in
any event, the Company will have full recourse against the Participant under the promissory note notwithstanding any pledge of the
Participant’s Shares or other collateral. In connection with any pledge of the Shares, the Participant will be required to
execute and deliver a written pledge agreement in such form as the Committee will from time to time approve. The Shares purchased
with the promissory note may be released from the pledge on a pro rata basis as the promissory note is paid.


 






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18.
REPRICING; EXCHANGE AND BUYOUT OF AWARDS. Without prior stockholder approval the Committee may (a) reprice Options or
SARs (and where such repricing is a reduction in the Exercise Price of outstanding Options or SARs, the consent of the affected
Participants is not required provided written notice is provided to them, notwithstanding any adverse tax consequences to them
arising from the repricing), and (b) with the consent of the respective Participants (unless not required pursuant to Section 5.9 of
the Plan), pay cash or issue new Awards in exchange for the surrender and cancellation of any, or all, outstanding
Awards.


 


19. SECURITIES
LAW AND OTHER REGULATORY COMPLIANCE. An Award will not be effective unless such Award is in compliance with all
applicable U.S. and foreign federal and state securities and exchange control and other laws, rules, and regulations of any
governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed
or quoted, as they are in effect on the date of grant of the Award and also on the date of exercise or other issuance.
Notwithstanding any other provision in this Plan, the Company will have no obligation to issue or deliver certificates for Shares
under this Plan prior to: (a) obtaining any approvals from governmental agencies that the Company determines are necessary or
advisable and/or (b) completion of any registration or other qualification of such Shares under any state, federal, or foreign law
or ruling of any governmental body that the Company determines to be necessary or advisable. The Company will be under no obligation
to register the Shares with the SEC or to effect compliance with the registration, qualification, or listing requirements of any
foreign or state securities laws, exchange control laws, stock exchange, or automated quotation system, and the Company will have no
liability for any inability or failure to do so.


 


20. NO
OBLIGATION TO EMPLOY. Nothing in this Plan or any Award granted under this Plan will confer or be deemed to confer on any
Participant any right to continue in the employ of, or to continue any other relationship with, the Company or any Parent,
Subsidiary, or Affiliate or limit in any way the right of the Company or any Parent, Subsidiary, or Affiliate to terminate
Participant’s employment or other relationship at any time.


 


21. CORPORATE
TRANSACTIONS.


 


21.1. Assumption
or Replacement of Awards by Successor. In the event that the Company is subject to a Corporate Transaction, outstanding Awards
acquired under the Plan shall be subject to the agreement evidencing the Corporate Transaction, which need not treat all outstanding
Awards in an identical manner. Such agreement, without the Participant’s consent, shall provide for one or more of the
following with respect to all outstanding Awards as of the effective date of such Corporate Transaction:


 


(a) The
continuation of an outstanding Award by the Company (if the Company is the successor entity).


 


(b) The
assumption of an outstanding Award by the successor or acquiring entity (if any) of such Corporate Transaction (or by its parents, if
any), which assumption, will be binding on all selected Participants; provided that the exercise price and the number and nature of shares
issuable upon exercise of any such option or stock appreciation right, or any award that is subject to Section 409A of the Code, will
be adjusted appropriately pursuant to Section 424(a) of the Code and/or Section 409A of the Code, as applicable.


 


(c)
The substitution by the successor or acquiring entity in such Corporate Transaction (or by its parents, if any) of equivalent awards
with substantially the same terms for such outstanding Awards (except that the exercise price and the number and nature of shares
issuable upon exercise of any such option or stock appreciation right, or any award that is subject to Section 409A of the Code,
will be adjusted appropriately pursuant to Section 424(a) of the Code and/or Section 409A of the Code, as applicable).


 


(d) The
full or partial acceleration of exercisability or vesting and accelerated expiration of an outstanding Award and lapse of the Company’s
right to repurchase or re-acquire shares acquired under an Award or lapse of forfeiture rights with respect to shares acquired under
an Award.


 






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(e)
The settlement of the full value of such outstanding Award (whether or not then vested or exercisable) in cash, cash equivalents, or
securities of the successor entity (or its parent, if any) with a fair market value equal to the required amount, followed by the
cancellation of such Awards; provided however, that such Award may be cancelled if such Award has no value, as determined by the
Committee, in its discretion.


 


Subject
to Section 409A of the Code, such payment may be made in installments and may be deferred until the date or dates the Award would have
become exercisable or vested. Such payment may be subject to vesting based on the Participant’s continued service, provided that
the vesting schedule shall not be less favorable to the Participant than the schedule under which the Award would have become vested
or exercisable. For purposes of this Section 21.1(e), the fair market value of any security shall be determined without regard to any
vesting conditions that may apply to such security.


 


(f) The
cancellation of outstanding Awards in exchange for no consideration.


 


The
Board shall have full power and authority to assign the Company’s right to repurchase or re-acquire or forfeiture rights to such
successor or acquiring corporation. In addition, in the event such successor or acquiring corporation (if any) refuses to assume, convert,
replace or substitute Awards, as provided above, pursuant to a Corporate Transaction, then the Committee will notify each Participant
in writing or electronically that such Participant’s Award will, if exercisable, be exercisable for a period of time determined
by the Committee in its sole discretion, and such Award will terminate upon the expiration of such period. Awards need not be treated
similarly in a Corporate Transaction and treatment may vary from Award to Award and/or from Participant to Participant.


 


21.2. Assumption
of Awards by the Company. The Company, from time to time, also may substitute or assume outstanding awards granted by another
company, whether in connection with an acquisition of such other company or otherwise, by either: (a) granting an Award under this
Plan in substitution of such other company’s award, or (b) assuming such award as if it had been granted under this Plan if
the terms of such assumed award could be applied to an Award granted under this Plan. Such substitution or assumption will be
permissible if the holder of the substituted or assumed award would have been eligible to be granted an Award under this Plan if the
other company had applied the rules of this Plan to such grant. In the event the Company assumes an award granted by another
company, the terms and conditions of such award will remain unchanged (except that the Purchase Price or the Exercise Price, as the
case may be, and the number and nature of Shares issuable upon exercise or settlement of any such Award will be adjusted
appropriately pursuant to Section 424(a) of the Code). In the event the Company elects to grant a new Option in substitution rather
than assuming an existing option, such new Option may be granted with a similarly adjusted Exercise Price. Substitute Awards will
not reduce the number of Shares authorized for grant under the Plan or authorized for grant to a Participant in a calendar
year.


 


21.3. Non-Employee
Directors’ Awards. Notwithstanding any provision to the contrary herein, in the event of a Corporate Transaction, the vesting
of all Awards granted to Non-Employee Directors will accelerate and such Awards will become exercisable (as applicable) in full
prior to the consummation of such event at such times and on such conditions as the Committee determines.


 


22.
ADOPTION AND STOCKHOLDER APPROVAL. This Plan will be submitted for the approval of the Company’s stockholders, consistent
with applicable laws, within twelve (12) months before or after the date this Plan is adopted by the Board.


 


23.
TERM OF PLAN/GOVERNING LAW. Unless earlier terminated as provided herein, this Plan will become effective on the Effective Date
and will terminate ten (10) years from the date this Plan is adopted by the Board. This Plan and all Awards granted hereunder will
be governed by and construed in accordance with the laws of the State of Delaware (excluding its conflict of laws rules).


 


24. AMENDMENT
OR TERMINATION OF PLAN. The Board may at any time terminate or amend this Plan in any respect, including, without limitation, amendment
of any form of Award Agreement or instrument to be executed pursuant to this Plan, provided, however, that the Board will not, without
the approval of the stockholders of the Company, amend this Plan in any manner that requires such stockholder approval, provided further
that a Participant’s Award will be governed by the version of this Plan then in effect at the time such Award was granted. No termination
or amendment of the Plan will affect any then-outstanding Award unless expressly provided by the Committee. In any event, no termination
or amendment of the Plan or any outstanding Award may adversely affect any then outstanding Award without the consent of the Participant,
unless such termination or amendment is necessary to comply with applicable law, regulation, or rule.


 






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25. NONEXCLUSIVITY
OF THE PLAN. Neither the adoption of this Plan by the Board, the submission of this Plan to the stockholders of the Company for approval,
nor any provision of this Plan will be construed as creating any limitations on the power of the Board to adopt such additional compensation
arrangements as it may deem desirable, including, without limitation, the granting of stock awards and bonuses otherwise than under this
Plan, and such arrangements may be either generally applicable or applicable only in specific cases.


 


26.
INSIDER TRADING POLICY. Each Participant who receives an Award will comply with any policy adopted by the Company from time to
time covering transactions in the Company’s securities by Employees, officers, and/or Directors of the Company, as well as
with any applicable insider trading or market abuse laws to which the Participant may be subject.


 


27. ALL
AWARDS SUBJECT TO COMPANY CLAWBACK OR RECOUPMENT POLICY. All Awards, subject to applicable law, will be subject to clawback
or recoupment pursuant to any compensation clawback or recoupment policy adopted by the Board or required by law during the term of Participant’s
employment or other service with the Company that is applicable to officers, Employees, Directors or other service providers of the Company,
and in addition to any other remedies available under such policy and applicable law, may require the cancellation of outstanding Awards
and the recoupment of any gains realized with respect to Awards.


 


28. DEFINITIONS.
As used in this Plan, and except as elsewhere defined herein, the following terms will have the following meanings:


 


28.1. “Affiliate”
means (a) any entity that, directly or indirectly, is controlled by, controls, or is under common control with, the Company, and (b)
any entity in which the Company has a significant equity interest, in either case as determined by the Committee, whether now or
hereafter existing.


 


28.2. “Award”
means any award under the Plan, including any Option, Performance Award, Cash Award, Restricted Stock, Stock Bonus, Stock
Appreciation Right, or Restricted Stock Unit.


 


28.3. “Award
Agreement” means, with respect to each Award, the written or electronic agreement between the Company and the
Participant setting forth the terms and conditions of the Award, and country-specific appendix thereto for grants to non-U.S.
Participants, which will be in substantially a form (which need not be the same for each Participant) that the Committee (or in the
case of Award agreements that are not used for Insiders, the Committee’s delegate(s)) has from time to time approved, and will
comply with and be subject to the terms and conditions of this Plan.


 


28.4. “Award
Transfer Program” means any program instituted by the Committee which would permit Participants the opportunity to
transfer any outstanding Awards to a financial institution or other person or entity approved by the Committee.


 


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


 


28.6. “Cause”
means (i) an unauthorized use or disclosure by Participant of the Company’s confidential information or trade secrets, which
use or disclosure causes material harm to the Company or is reasonably likely to cause material harm to the Company, (ii) a material
breach of any agreement between Participant and the Company, (iii) a material failure to comply with the Company’s written
policies or rules that has caused or is reasonably likely to cause material injury to the Company, its successor, or its affiliates,
or any of their business, (iv) conviction of, or plea of “guilty” or “no contest” to, a felony under the
laws of the United States or any state thereof, (v) willful misconduct that has caused or is reasonably likely to cause material
injury to the Company, its successor, or its affiliates, or any of their businesses, (vi) embezzlement, (vii) failure to cooperate
with the Company in any investigation or formal proceeding if the Company has requested Participant’s reasonable cooperation,
(viii) violation of any applicable federal, state or foreign statutes or laws that govern or regulate employment, pharmaceutical
drugs or securities, including but not limited to the laws enforced by the federal Equal Employment Opportunity Commission,
Department of Labor, Food and Drug Administration, Securities and Exchange Commission and Department of Justice or (ix) a continued
failure to perform assigned duties after receiving written notification of such failure from the Company’s Chief Executive
Officer; provided that Participant must be provided with written notice of Participant’s termination for “Cause”
and Participant must be provided with a thirty (30) day period following Participant’s receipt of such notice to cure the
event(s) that trigger “Cause,” with the Company’s Chief Executive Officer making the final determination whether
Participant has cured any Cause. The determination as to whether a Participant is being terminated for Cause shall be made in good
faith by the Company and shall be final and binding on the Participant. This definition does not in any way limit the
Company’s or any Parent’s or Subsidiary’s ability to terminate a Participant’s employment or services at any
time. Notwithstanding the foregoing, the foregoing definition of “Cause” may, in part or in whole, be modified or
replaced in each individual employment agreement, Award Agreement, or other applicable agreement with any Participant, provided that
such document explicitly supersedes the definition provided in this Section.


 






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28.7. “Code”
means the United States Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.


 


28.8. 
“Committee” means the Compensation Committee of the Board or those persons to whom administration of the
Plan, or part of the Plan, has been delegated as permitted by law.


 


28.9. “Common
Stock” means the common stock of the Company.


 


28.10.
“Company” means ALLARITY THERAPEUTICS, Inc., a Delaware corporation, or any successor
corporation.


 


28.11. “Consultant”
means any natural person, including an advisor or independent contractor, engaged by the Company or a Parent, Subsidiary, or
Affiliate to render services to such entity.


 


28.12. “Corporate
Transaction” means the occurrence of any of the following events: (a) any “Person” (as such term is used
in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the
Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the total voting
power represented by the Company’s then-outstanding voting securities, provided, however, that for purposes of this subclause
(a) the acquisition of additional securities by any one Person who is considered to own more than fifty percent (50%) of the total
voting power of the securities of the Company will not be considered a Corporate Transaction; (b) the consummation of the sale or
disposition by the Company of all or substantially all of the Company’s assets; (c) the consummation of a merger or
consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power
represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger
or consolidation; (d) any other transaction which qualifies as a “corporate transaction” under Section 424(a) of the
Code wherein the stockholders of the Company give up all of their equity interest in the Company (except for the acquisition, sale
or transfer of all or substantially all of the outstanding shares of capital stock of the Company), or (e) a change in the effective
control of the Company that occurs on the date that a majority of members of the Board is replaced during any twelve (12) month
period by members of the Board whose appointment or election is not endorsed by a majority of the members of the Board prior to the
date of the appointment or election. For purposes of this subclause (e), if any Person is considered to be in effective control of
the Company, the acquisition of additional control of the Company by the same Person will not be considered a Corporate Transaction.
For purposes of this definition, Persons will be considered to be acting as a group if they are owners of a corporation that enters
into a merger, consolidation, purchase, or acquisition of stock, or similar business transaction with the Company. Notwithstanding
the foregoing, to the extent that any amount constituting deferred compensation (as defined in Section 409A of the Code) would
become payable under this Plan by reason of a Corporate Transaction, such amount will become payable only if the event constituting
a Corporate Transaction would also qualify as a change in ownership or effective control of the Company or a change in the ownership
of a substantial portion of the assets of the Company, each as defined within the meaning of Code Section 409A, as it has been and
may be amended from time to time, and any proposed or final Treasury Regulations and IRS guidance that has been promulgated or may
be promulgated thereunder from time to time.


 


28.13. “Director”
means a member of the Board.


 


28.14. “Disability”
means in the case of incentive stock options, total and permanent disability as defined in Section 22(e)(3) of the Code and in the
case of other Awards, that the Participant is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous
period of not less than twelve (12) months.


 


28.15. “Dividend
Equivalent Right” means the right of a Participant, granted at the discretion of the Committee or as otherwise
provided by the Plan, to receive a credit for the account of such Participant in an amount equal to the cash, stock, or other
property dividends in amounts equal equivalent to cash, stock, or other property dividends for each Share represented by an Award
held by such Participant.


 


28.16. “Effective
Date” means the effective time of the Company’s Recapitalization Share Exchange described in the Company’s
Form S-4 Registration Statement (SEC File No. : 333- ), subject to approval of the Plan by the Company’s
stockholders.


 






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28.17. “Employee”
means any person, including officers and Directors, providing services as an employee to the Company or any Parent, Subsidiary, or
Affiliate. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute
“employment” by the Company.


 


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


 


28.19. “Exchange
Program” means a program pursuant to which (a) outstanding Awards are surrendered, cancelled, or exchanged for cash, the
same type of Award, or a different Award (or combination thereof); or (b) the exercise price of an outstanding Award is increased or
reduced.


 


28.20. “Exercise
Price” means, with respect to an Option, the price at which a holder may purchase the Shares issuable upon exercise of
an Option and with respect to a SAR, the price at which the SAR is granted to the holder thereof.


 


28.21. “Fair
Market Value” means, as of any date, the value of a Share, determined as follows:


 


(a)  if
such common stock is publicly traded and is then listed on a national securities exchange, its closing price on the date of determination
on the principal national securities exchange on which the common stock is listed or admitted to trading as reported in The Wall Street
Journal or such other source as the Committee deems reliable;


 


(b)  if
such common stock is publicly traded but is neither listed nor admitted to trading on a national securities exchange, the average of
the closing bid and asked prices on the date of determination as reported in The Wall Street Journal or such other source as the
Committee deems reliable; or


 


(c)  by
the Board or the Committee in good faith.


 


28.22. “Insider”
means an officer or Director of the Company or any other person whose transactions in the Company’s common stock are subject to
Section 16 of the Exchange Act.


 


28.23.
[RESERVED]


 


28.24. “IRS”
means the United States Internal Revenue Service.


 


28.25. “Non-Employee
Director” means a Director who is not an Employee of the Company or any Parent, Subsidiary, or Affiliate.


 


28.26. “Option”
means an award of an option to purchase Shares pursuant to Section 5.


 


28.27. “Parent”
means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company if each of such corporations
other than the Company owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in
one of the other corporations in such chain.


 


28.28. “Participant”
means a person who holds an Award under this Plan.


 


28.29. “Performance
Award” means an Award as defined in Section 10 and granted under the Plan, the payment of which is contingent upon achieving
certain performance goals established by the Committee.


 


28.30. “Performance
Factors” means any of the factors selected by the Committee and specified in an Award Agreement, from among the following
measures, either individually, alternatively or in any combination, applied to the Company as a whole or any business unit or Subsidiary,
either individually, alternatively, or in any combination, on a GAAP or non-GAAP basis, and measured, to the extent applicable on an
absolute basis or relative to a pre-established target, to determine whether the performance goals established by the Committee with
respect to applicable Awards have been satisfied:


 


		(a)	profit
before tax;



 


		(b)	billings;



 


		(c)	revenue;



 


		(d)	net
revenue;



 


		(e)	earnings
(which may include earnings before interest and taxes, earnings before taxes, net earnings, stock-based compensation expenses, depreciation,
and amortization);



 






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		(f)	operating
income;



 


		(g)	operating
margin;



 


		(h)	operating
profit;



 


		(i)	controllable
operating profit or net operating profit;



 


		(j)	net
profit;



 


		(k)	gross
margin;



 


		(l)	operating
expenses or operating expenses as a percentage of revenue;



 


		(m)	net
income;



 


		(n)	earnings
per share;



 


		(o)	total
stockholder return;



 


		(p)	market
share;



 


		(q)	return
on assets or net assets;



 


		(r)	the
Company’s stock price;



 


		(s)	growth
in stockholder value relative to a pre-determined index;



 


		(t)	return
on equity;



 


		(u)	return
on invested capital;



 


		(v)	cash
flow (including free cash flow or operating cash flows);



 


		(w)	cash
conversion cycle;



 


		(x)	economic
value added;



 


		(y)	individual
confidential business objectives;



 


		(z)	contract
awards or backlog;



 


		(aa)	overhead
or other expense reduction;



 


		(bb)	credit
rating;



 


		(cc)	strategic
plan development and implementation;



 






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		(dd)	succession
plan development and implementation;



 


		(ee)	improvement
in workforce diversity;



 


		(ff)	customer
indicators and/or satisfaction;



 


		(gg)	new
product invention or innovation;



 


		(hh)	attainment
of research and development milestones;



 


		(ii)	improvements
in productivity;



 


		(jj)	bookings;



 


		(kk)	attainment
of objective operating goals and employee metrics;



 


		(ll)	sales;



 


		(mm)	expenses;



 


		(nn)	balance
of cash, cash equivalents, and marketable securities;



 


		(oo)	completion
of an identified special project;



 


		(pp)	completion
of a joint venture or other corporate transaction;



 


		(qq)	employee
satisfaction and/or retention;



 


		(rr)	research
and development expenses;



 


		(ss)	working
capital targets and changes in working capital; and



 


		(tt)	any
other metric that is capable of measurement as determined by the Committee.



 


The
Committee may provide for one or more equitable adjustments to the Performance Factors to preserve the Committee’s original intent
regarding the Performance Factors at the time of the initial award grant, such as but not limited to, adjustments in recognition of unusual
or non-recurring items such as acquisition related activities or changes in applicable accounting rules. It is within the sole discretion
of the Committee to make or not make any such equitable adjustments.


 


28.31. “Performance
Period” means one or more periods of time, which may be of varying and overlapping durations, as the Committee may
select, over which the attainment of one or more Performance Factors will be measured for the purpose of determining a
Participant’s right to, and the payment of, a Performance Award.


 


28.32. “Performance
Share” means an Award as defined in Section 10 and granted under the Plan, the payment of which is contingent upon achieving
certain performance goals established by the Committee.


 


28.33. “Performance
Unit” means an Award as defined in Section 10 and granted under the Plan, the payment of which is contingent upon achieving
certain performance goals established by the Committee.


 


28.34. “Permitted
Transferee” means 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)
of the Employee, any person sharing the Employee’s household (other than a tenant or employee), a trust in which these persons
(or the Employee) have more than 50% of the beneficial interest, a foundation in which these persons (or the Employee) control the management
of assets, and any other entity in which these persons (or the Employee) own more than 50% of the voting interests.


 






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28.35. “Plan”
means this ALLARITY THERAPEUTICS, Inc. 2021 Equity Incentive Plan.


 


28.36. “Purchase
Price” means the price to be paid for Shares acquired under the Plan, other than Shares acquired upon exercise of an Option
or SAR.


 


28.37. “Restricted
Stock Award” means an Award as defined in Section 6 and granted under the Plan, or issued pursuant to the early exercise
of an Option.


 


28.38. “Restricted
Stock Unit” means an Award as defined in Section 9 and granted under the Plan.


 


28.39. “SEC”
means the United States Securities and Exchange Commission.


 


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


 


28.41. “Service”
will mean service as an Employee, Consultant, Director, or Non-Employee Director, to the Company or a Parent, Subsidiary, or Affiliate,
subject to such further limitations as may be set forth in the Plan or the applicable Award Agreement. An Employee will not be deemed
to have ceased to provide Service in the case of (a) sick leave, (b) military leave, or (c) any leave of absence approved by the Company;
provided however, that such leave is for a period of not more than 90 days (x) unless reemployment upon the expiration if such leave
is guaranteed by contract or statute, or (y) unless provided otherwise pursuant to formal policy adopted from time to time by the Company
and issued and promulgated to employees in writing. In the case of any Employee on an approved leave of absence or a reduction in hours
worked (for illustrative purposes only, a change in schedule from that of full-time to part-time), the Committee may make such provisions
respecting suspension of or modification to vesting of the Award while on leave from the employ of the Company or a Parent, Subsidiary
or Affiliate or during such change in working hours as it may deem appropriate, except that in no event may an Award be exercised after
the expiration of the term set forth in the applicable Award Agreement. In the event of military or other protected leave, if required
by applicable laws, vesting will continue for the longest period that vesting continues under any other statutory or Company approved
leave of absence and, upon a Participant’s returning from military leave (under conditions that would entitle him or her to protection
upon such return under the Uniform Services Employment and Reemployment Rights Act), he or she will be given vesting credit with respect
to Awards to the same extent as would have applied had the Participant continued to provide Service to the Company throughout the leave
on the same terms as he or she was providing Service immediately prior to such leave. An employee shall have terminated employment as
of the date he or she ceases to provide Service (regardless of whether the termination is in breach of local employment laws or is later
found to be invalid) and employment shall not be extended by any notice period or garden leave mandated by local law, provided,
however, that a change in status between an Employee, Consultant, Director or Non-Employee Director shall not terminate the Participant’s
Service, unless determined by the Committee, in its discretion or to the extent set forth in the applicable Award Agreement. The Committee
will have sole discretion to determine whether a Participant has ceased to provide Service and the effective date on which the Participant
ceased to provide Service. An employee will have terminated employment as of the date he or she ceases to provide Service (regardless
of whether the termination is in breach of local employment laws or is later found to be invalid) and employment will not be extended
by any notice period or garden leave mandated by local law, provided, however, that a change in status from an Employee to a Consultant
or Non-Employee Director (or vice versa) will not terminate the Participant’s Service, unless determined by the Committee, in its
discretion. The Committee will have sole discretion to determine whether a Participant has ceased to provide Service and the effective
date on which the Participant ceased to provide Service.


 


28.42. “Shares”
means shares of the Common Stock and the common stock of any successor entity of the Company.


 


28.43. “Stock
Appreciation Right” means an Award defined in Section 8 and granted under the Plan.


 


28.44. “Stock
Bonus” means an Award defined in Section 7 and granted under the Plan.


 


28.45. “Subsidiary”
means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if each of the corporations
other than the last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting
power of all classes of stock in one of the other corporations in such chain.


 


28.46. “Treasury
Regulations” means regulations promulgated by the United States Treasury Department.


 


28.47. “Unvested
Shares” means Shares that have not yet vested or are subject to a right of repurchase in favor of the Company (or any
successor thereto).


 


 


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