# EDGAR Filing Document

**Accession Number:** 0001753162
**File Stem:** 0001628280-26-022069
**Filing Date:** 2026-3
**Character Count:** 30741
**Document Hash:** cc910f218af4ae8136806784255a1919
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-022069.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0001628280-26-022069

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 14

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**EFFECTIVENESS DATE**: 20260330

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fathom Holdings Inc.
- **CENTRAL INDEX KEY:** 0001753162
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 821518164
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-294742
- **FILM NUMBER:** 26814590

**BUSINESS ADDRESS:**
- **STREET 1:** 2000 REGENCY PARKWAY DRIVE
- **STREET 2:** SUITE 300
- **CITY:** CARY
- **STATE:** NC
- **ZIP:** 27518
- **BUSINESS PHONE:** 8884556040

**MAIL ADDRESS:**
- **STREET 1:** 2000 REGENCY PARKWAY DRIVE
- **STREET 2:** SUITE 300
- **CITY:** CARY
- **STATE:** NC
- **ZIP:** 27518

**As filed with the Securities and Exchange Commission on March 30, 2026**

**Registration Statement No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

**UNDER THE SECURITIES ACT OF 1933**

**FATHOM HOLDINGS INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **North Carolina** | **82-1518164** |
| (State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) |

---

**2000 Regency Parkway Drive, Suite 300**

**Cary, North Carolina, 27518**

(Address of principal executive offices) (Zip Code)

**Performance Rights Inducement Awards**

(Full title of the plan)

**Marco Fregenal**

**Chief Executive Officer**

**2000 Regency Parkway Drive, Suite 300**

**Cary, North Carolina, 27518**

**Telephone: (888) 455-6040**

(Name and address of agent for service) (Telephone number, including area code, of agent for service)

***Copies to:***

**Andrew J. Gibbons, Esq.**

**Wyrick Robbins Yates & Ponton LLP**

**4101 Lake Boone Trail, Suite 300**

**Raleigh, North Carolina 27607**

**(919) 781-4000**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ◻ | Accelerated filer | ◻ |
| Non-accelerated filer | ⌧ | Smaller reporting company | ⌧ |
| | | Emerging growth company | ◻ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ◻

------

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 covers up to 137,614 of shares of Common Stock of Fathom Holdings Inc. (the "Registrant"), issuable pursuant to an inducement award consisting of up to 137,614 shares of the Registrant's Common Stock subject to performance-based vesting (the "Inducement Grant"). The Inducement Grant was made to Laura Muller as inducement for her acceptance of employment with the Registrant as the President of Fathom Realty, LLC. The Inducement Grant was made outside of the Registrant's Amended and Restated 2019 Omnibus Stock Incentive Plan, as amended, and any other equity plan established by the Registrant.

---

| | |
|:---|:---|
| **Item 3.** | **Incorporation of Documents by Reference.** |

---

The following documents previously filed by the Registrant with the Commission are incorporated herein by reference:

(a) the Registrant's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Commission on March 30, 2026; and<br>(b) the description of the Registrant's Common Stock contained in the Registrant's Registration Statement on Form 8-A filed with the Commission pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") on July 28, 2020 and as may be amended from time to time.<br>

In addition, documents filed, but not furnished, by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date hereof and prior to the filing of a post-effective amendment that indicates that all securities offered under this Registration Statement have been sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents. In no event, however, will any of the information, including exhibits, that the Registrant discloses under Item 2.02 and Item 7.01 of any report on Form 8-K that has been or may be, from time to time, furnished to the Commission, be incorporated by reference into or otherwise become a part of this Registration Statement.

Any statement contained in a document incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof to the extent that a statement contained herein (or in any other subsequently filed document that also is or is deemed to be incorporated by reference herein) modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed to constitute a part hereof except as so modified or superseded.

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---

| | |
|:---|:---|
| **Item 8.** | **Exhibits.** |

---

The following exhibits are filed as part of this Registration Statement:

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| 4.1 | Restated Articles of Incorporation of Fathom Holdings Inc. (incorporated by reference to Exhibit 3.1 to the Registration Statement on Form S-1 filed with the Commission on January 17, 2020). |
| 4.2 | [Articles of Amendment to the Restated Articles of Incorporation of Fathom Holdings Inc., effective July 27, 2020 (incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K filed with the Commission on August 4, 2020).](https://www.sec.gov/Archives/edgar/data/1753162/000110465920090279/tm2026475d1_ex3-1.htm) |
| 4.3 | Second Amended and Restated Bylaws of Fathom Holdings Inc. (incorporated by reference to Exhibit 3.2 to the Registration Statement on Form S-1/A filed with the Commission on August 4, 2020). |
| <u>[5.1\*](fthm-2026sx8xex51inducemen.htm)</u> | <u>[Opinion of Wyrick Robbins Yates & Ponton LLP.](fthm-2026sx8xex51inducemen.htm)</u> |
| <u>[23.1\*](fthm-2026sx8xex231induceme.htm)</u> | <u>[Consent of Deloitte & Touche LLP.](fthm-2026sx8xex231induceme.htm)</u> |
| <u>[23.2\*](fthm-2026sx8xex51inducemen.htm)</u> | <u>[Consent of Wyrick Robbins Yates & Ponton LLP (contained in Exhibit 5.1).](fthm-2026sx8xex51inducemen.htm)</u> |
| <u>[24.1\*](#i96f81052fcdd4c258b4ffbaca0c445a3_1)</u> | <u>[Power of Attorney (included in the signature page to this Registration Statement).](#i96f81052fcdd4c258b4ffbaca0c445a3_1)</u> |
| <u>[99.1\*](fathom-formofperformanceaw.htm)</u> | <u>[Form of Performance Rights Agreement.](fathom-formofperformanceaw.htm)</u> |
| <u>[107\*](exfilingfees.htm)</u> | <u>[Filing Fee Table.](exfilingfees.htm)</u> |

---

\* Filed herewith.

**[THE NEXT PAGE IS THE SIGNATURE PAGE]**

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Cary, State of North Carolina, on the 30<sup>th</sup> day of March, 2026.

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| | |
|:---|:---|
| **FATHOM HOLDINGS INC.** | **FATHOM HOLDINGS INC.** |
| By: | /s/ Marco Fregenal |
|  | Marco Fregenal |
|  | Chief Executive Officer<br>(Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer) |

---

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each individual whose signature appears below hereby constitutes and appoints Marco Fregenal his or her true and lawful agent, proxy and attorney-in-fact, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.

------

---

| | | |
|:---|:---|:---|
| **Signature** | **Capacity** | **Date** |
| /s/ Marco Fregenal | Chief Executive Officer, Director | March 30, 2026 |
| Marco Fregenal | (Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer) |  |
| /s/ Scott Flanders | Director | March 30, 2026 |
| Scott Flanders |  |  |
| /s/ Adam Rothstein | Director | March 30, 2026 |
| Adam Rothstein |  |  |
| /s/ David C. Hood | Director | March 30, 2026 |
| David C. Hood |  |  |
| /s/ Stephen Murray | Director | March 30, 2026 |
| Stephen Murray |  |  |
| /s/ Jennifer B. Venable | Director | March 30, 2026 |
| Jennifer B. Venable |  |  |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fathom Holdings Inc.**  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Common Stock, no par value per share | Other | 137614 | $0.82 | $112843.48 | 0.0001381 | $15.58 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $112843.48  |  | $15.58  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $15.58  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> a. Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement also covers any additional shares of common stock, no par value per share (the "Common Stock"), of Fathom Holdings Inc. (the "Registrant") as may be issued to prevent dilution of the shares of Common Stock covered hereby resulting from stock splits, stock dividends or similar transactions. b. Represents 137,614 shares of Common Stock issuable upon vesting of Performance Rights granted to Laura Muller, President of Fathom Realty, LLC, on February 9, 2026. Such Performance Rights were granted outside of the Company's Amended and Restated 2019 Omnibus Stock Incentive Plan. c. Calculated solely for the purpose of this offering pursuant to Rule 457(c) and 457(h)(1) of the Securities Act on the basis of the average of the high and low prices of the Registrant's Common Stock on the Nasdaq Capital Market on March 25, 2026.

---

| |
|:---|
| |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

---

## Exhibit 5.1

**Exhibit 5.1**

Wyrick Robbins Yates & Ponton LLP

4101 Lake Boone Trail, Suite 300

Raleigh, North Carolina 27607-7506

March 30, 2026

Fathom Holdings Inc.

2000 Regency Parkway Drive, Suite 300

Cary, North Carolina, 27518

 Re: Registration Statement on Form S-8

Ladies and Gentlemen:

We have examined the Registration Statement on Form S-8 filed on or about the date hereof by Fathom Holdings Inc., a North Carolina corporation (the "Registrant"), with the Securities and Exchange Commission (the "Registration Statement"), in connection with the registration under the Securities Act of 1933, as amended, of 137,614 shares of the Registrant's common stock, no par value per share (the "Shares"), which were granted as inducement material to the individual party thereto entering into employment with the Registrant (the "Inducement Grant Agreement"). In our examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with the original of all documents submitted to us as copies thereof.

As the Registrant's legal counsel, we have examined the proceedings taken, and are familiar with the proceedings proposed to be taken, in connection with the sale of the Shares pursuant to the Inducement Grant Agreement.

It is our opinion that, upon completion of the proceedings being taken or contemplated by us, as your counsel, to be taken prior to the issuance of the Shares, the Shares when issued in the manner referred to in the Registration Statement and in accordance with the Inducement Grant Agreement, will be validly issued, fully paid and nonassessable.

We consent to the use of this opinion as an exhibit to the Registration Statement and further consent to the use of our name wherever appearing in the Registration Statement, including the Prospectus constituting a part thereof, and any amendments thereto.

Sincerely,<br>/s/ WYRICK ROBBINS YATES & PONTON LLP<br>

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated March 30, 2026, relating to the financial statements of Fathom Holdings Inc., appearing in the Annual Report on Form 10-K of Fathom Holdings Inc. for the year ended December 31, 2025.

/s/ Deloitte & Touche LLP

Raleigh, North Carolina

March 30, 2026

## Exhibit 99.1

**FORM OF INDUCEMENT RESTRICTED STOCK UNIT AWARD AGREEMENT**

This Inducement Restricted Stock Unit Award Agreement (this "<u>Agreement</u>") governs the award of Restricted Stock Units to the Holder identified on the accompanying Grant Notice. Capitalized terms not explicitly defined in this Agreement but defined in the Company's 2019 Omnibus Stock Incentive Plan, as amended (the "<u>Plan</u>") will have the same definition and meaning as in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.Grant of RSUs.** Effective as of the Date of Grant, the Company grants the Holder the number of RSUs listed on the Grant Notice. The RSUs are subject to the vesting, payment, and other provisions of this Agreement and the Plan. Each RSU is subject to settlement into one share of Common Stock of the Company that will be delivered to the Holder when and if such RSU becomes vested subject to the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.Vesting; Forfeiture.** The RSUs are unvested when granted and will vest in accordance with the vesting schedule set forth on the Grant Notice, subject to Holder's Continuous Service through the vesting date(s). Vesting will cease upon the termination of Holder's Continuous Service. All RSUs that are not vested upon the termination of Holder's Continuous Service for any reason will be immediately forfeited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.Delivery of Shares to Settle Vested RSUs.** RSUs that become vested as provided in Section 2 will be settled by delivering to Holder a number of Shares equal to the number of vested RSUs as soon as practicable after the date on which the RSUs vest, provided that the Company may provide a reasonable delay in the issuance or delivery of the Shares to address tax withholding and other administrative matters and provided further that delivery of the Shares will occur no later than two and one-half months following the conclusion of the year in which the vesting occurs. At the time of settlement, the Company will, at its election, either: (a) issue a certificate representing the Shares deliverable pursuant to this Agreement; or (b) not issue any certificate representing the Shares deliverable pursuant to this Agreement and instead document the Holder's interest in the Shares by registering such Shares with the Company's transfer agent (or another custodian selected by the Company) in bookentry form in the Holder's name.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.Capitalization Changes.** The number of RSUs convertible to Shares subject to this Award may be adjusted from time to time by the Administrator to account for changes in capitalization as described in Section 13 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.Rights as a Shareholder.** The RSUs represent a right to payment from the Company if the conditions of the Agreement are met and do not give the Holder ownership of any Common Stock prior to delivery as provided in Section 3. Holder will not have any rights and/or privileges of a shareholder of the Company with respect to the RSUs prior to such delivery. If Holder becomes vested in RSUs as provided in Section 2, any Shares to which Holder becomes entitled will be delivered to Holder as provided in Section 3, and Holder will have full ownership of the Shares upon such delivery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.Non-Transferability.** The Award is not transferable, may not be sold, assigned, exchanged, transferred, pledged, hypothecated, encumbered or otherwise disposed of except as provided in the Plan or by will or by the laws of descent and distribution and in accordance with

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the Applicable Laws. Any purported transfer of the RSUs or the right to payment under this Agreement is null and void and will not be given effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.Award Not a Service Contract.** Neither the Award nor this Agreement is an employment or service contract, and nothing in this Agreement or the Grant Notice creates or will be deemed to create in any way whatsoever any obligation on Holder's part to continue in the service of the Company or a Related Entity, or of the Company or a Related Entity to continue Holder's service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.Tax Consequences.** Holder acknowledges that she understands the federal, state, and local tax consequences of the Award and the issuance, vesting, forfeiture, and delivery provisions hereof relating to the RSUs. Holder will rely solely on the advice of her own tax advisors and not on any statements or representations of the Company or any of its agents. Holder understands that Holder (and not the Company) will be responsible for her own tax liability that may arise as a result of the Award or the transactions contemplated by this Agreement. The Company has no duty or obligation to minimize the tax consequences associated with this Award to the Holder and will not be liable to the Holder for any adverse tax consequences arising in connection with this Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.Withholding Obligations.** Holder understands that, at the time that Holder becomes vested and/or receives payment for any RSUs (including through the delivery of Shares), the Company may be required to withhold federal, state and local income and employment taxes. Holder hereby authorizes the Company to satisfy any required withholding to satisfy federal, state, local, payroll, and foreign tax withholding obligations of the Company or any Related Entity that arise in connection with the RSUs through any method authorized in the Plan. Unless otherwise determined by the Administrator in its sole discretion, Holder acknowledges that the Company will satisfy such tax withholding obligation by arranging for the sale, by a broker of the Company's choosing, of such number of Shares otherwise deliverable to the Holder equal in value to the tax obligation required to be withheld (plus any applicable broker commission). Holder understands that all matters with respect to the total amount of taxes to be withheld in respect of such compensation income will be determined by the Company in its reasonable discretion. Holder further understands that, although the Company will pay withheld amounts to the applicable taxing authorities, Holder remains responsible for payment of all taxes due as a result of income arising under the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.Application of Section 409A.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**The parties intend that this Agreement and the delivery of Shares or other consideration in respect of the RSUs provided under this Agreement satisfies, to the greatest extent possible, the exemption from the application of Section 409A of the Code and the regulations and other guidance thereunder and any state law of similar effect (collectively, "<u>Section 409A</u>") provided under Treasury Regulations section 1.409A-1(b)(4) (or any other applicable exemption), and this Agreement will be construed to the greatest extent possible as consistent with those provisions. To the extent not so exempt, the delivery of Shares in respect of the RSUs provided under this Agreement will be conducted, and this Agreement will be construed, in a manner that complies with Section 409A and is consistent with the requirements for avoiding taxes or penalties under Section 409A. The parties further intend that each installment of any payments provided for in this Agreement is a separate "payment" for purposes of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)**To the extent any payment hereunder due upon the termination of the Holder's Continuous Service is deferred compensation that is subject to Section 409A, and is not otherwise exempt from complying with the provisions of Section 409A, then such payment will not be made unless and until Holder has also incurred a "separation from service" (as such term

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is defined in Treasury Regulation section 1.409A-1(h)). To the extent that (i) one or more of the payments received or to be received by the Holder pursuant to this Agreement would constitute deferred compensation subject to the requirements of Section 409A, and (ii) the Holder is a "specified employee" within the meaning of Section 409A, then solely to the extent necessary to avoid the imposition of any additional taxes or penalties under Section 409A, the commencement of any payments under this Agreement will be deferred until the date that is six months and one day following the Holder's termination of Continuous Service (or, if earlier, the date of death of the Holder) and will instead be paid on the date that immediately follows the end of such period (or death) or as soon as administratively practicable within 30 days thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)**The Company makes no representations to Holder regarding the compliance of this Agreement or the Award with Section 409A, and Holder is solely responsible for the payment of any taxes or penalties arising under Section 409A(a)(1), or any state law of similar effect, with respect to the grant or vesting of the RSUs or the delivery of the Shares subject to this Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.**Inducement Award.** This Award is an employment inducement grant made pursuant to NASDAQ Listing Rule 5635(c)(4). Accordingly, this Award has been granted outside of the Plan or any other equity plan established by the Company. However, this Award will be administered and interpreted as if issued under the Plan, a copy of which has been provided to the Holder and which is incorporated herein in its entirety.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.Miscellaneous.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Notices</u>. Any notice, demand or request required or permitted to be given pursuant to the terms of this Agreement will be in writing and will be deemed given when delivered personally, one day after deposit with a recognized international delivery service (such as FedEx), or three days after deposit in the U.S. mail, first class, certified or registered, return receipt requested, with postage prepaid, in each case addressed to the parties at the addresses of the parties set forth in the Grant Notice or such other address as a party may designate by notifying the other in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Successors and Assigns</u>. The provisions of this Agreement will inure to the benefit of, and be binding upon, the Company and its successors and assigns and upon the Holder, Holder's executor, personal representative(s), distributees, administrators, permitted transferees, permitted assignees, beneficiaries, and legatee(s), as applicable, whether or not any such person will have become a party to this Agreement and have agreed in writing to be joined herein and be bound by the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Severability</u>. The provisions of this Agreement are severable, and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, then the remaining provisions will nevertheless be binding and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Amendment</u>. Except as otherwise provided in the Plan, this Agreement will not be amended unless the amendment is agreed to in writing by both Holder and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>Choice of Law</u>. This Agreement will be construed and enforced in accordance with and governed by the laws of the State of North Carolina, without giving effect to the choice of law rules of any jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)<u>Entire Agreement</u>. This Agreement, along with the Grant Notice and the Plan, constitutes the entire agreement between the parties hereto with regard to the subject matter

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hereof, and supersedes any other agreements, representations or understandings (whether oral or written and whether express or implied) that relate to such subject matter.

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