Document:

P10, Inc. 8-K

Exhibit
10.1

 

P10,
Inc.

2021
Incentive Plan

Article
1

Establishment
and Purpose

1.1    Establishment
of the Plan. P10, Inc., a Delaware corporation (the “Company”), hereby establishes an incentive compensation plan
(as amended from time to time, the “Plan”), as set forth in this document.

1.2    Purpose
of the Plan. The purposes of the Plan are to (a) enable the Company and any Affiliate to attract and retain the types of Employees,
Consultants and Directors who will contribute to the Company’s long-range success; (b) provide incentives that align the interests
of Employees, Consultants and Directors with those of stockholders of the Company; and (c) promote the success of the Company’s
business.

1.3    Effective
Date of the Plan. The Plan is effective as of the date the Plan is approved by the Company’s Board (the “Effective
Date”).

1.4    Duration
of the Plan. Unless sooner terminated as provided herein, the Plan shall terminate ten (10) years from the Effective Date. After
the Plan is terminated, no Awards may be granted but Awards previously granted shall remain outstanding in accordance with their applicable
terms and conditions and the Plan’s terms and conditions.

Article
2

Definitions

Whenever
used in the Plan, the following terms shall have the meanings set forth below and, when the meaning is intended, the initial letter of
the word is capitalized:

2.1    “Affiliate”
means, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled
by or is under common control with, the Person in question, including any subsidiary. As used herein, the term “control”
means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether
through ownership of voting securities, by contract or otherwise. As used herein, the term “subsidiary” means any corporation,
partnership, venture or other entity in which the Company holds, directly or indirectly, a fifty percent (50%) or greater ownership interest.

2.2    “Applicable
Law” means any applicable law, including without limitation: (a) provisions of the Code, the Securities Act, the Exchange
Act and any rules or regulations thereunder; (b) corporate, securities, tax or other laws, statutes, rules, requirements or regulations,
whether federal, state, local or foreign; and (c) rules of any securities exchange or automated quotation system on which the Shares
are listed, quoted or traded.

2.3    “Award”
means, individually or collectively, a grant or award under this Plan of Options, Stock Appreciation Rights, Restricted Stock (including
unrestricted Stock), Restricted Stock Units, Performance Stock Units, Performance Shares, Deferred Stock Awards, Other Stock-Based Awards,
Dividend Equivalent Awards and Performance Bonus Awards, in each case subject to the terms of the Plan.

 

    	 	 	 

    	 

    

2.4    “Award
Agreement” means an agreement, certificate, resolution or other type or form of writing or other evidence approved by the Committee
which sets forth the terms and conditions of an Award. An Award Agreement may be in any electronic medium, may be limited to a notation
on the books and records of the Company and, with the approval of the Committee, need not be signed by a representative of the Company
or a Participant. In the event of any inconsistency between the Plan and an Award Agreement, the terms of the Plan shall govern.

2.5    “Beneficial
Owner” or “Beneficial Ownership” has the meaning ascribed to such term in Rule 13d-3 and Rule 13d-5 under
the Exchange Act.

2.6    “Board”
or “Board of Directors” means the Company’s Board of Directors.

2.7    “Cause”
means, except as otherwise defined in an Award Agreement, a Participant’s: (a) conviction of, or the entry of a plea of guilty
or no contest to, a felony or any other crime that causes the Company or its Affiliates public disgrace or disrepute, or materially and
adversely affects the Company’s or its Affiliates’ operations or financial performance or the relationship the Company has
with its customers; (b) gross negligence or willful misconduct with respect to the Company or any of its Affiliates, including,
without limitation fraud, embezzlement, theft or proven dishonesty in the course of his or her employment or other service; (c) refusal
to perform any lawful, material obligation or fulfill any duty (other than any duty or obligation of the type described in clause (e) below)
to the Company or its Affiliates (other than due to a Disability), which refusal, if curable, is not cured within fifteen (15) days
after delivery of written notice thereof; (d) material breach of any agreement with or duty owed to the Company or any of its Affiliates,
which breach, if curable, is not cured within fifteen (15) days after the delivery of written notice thereof; or (e) any breach
of any obligation or duty to the Company or any of its Affiliates (whether arising by statute, common law or agreement) relating to confidentiality,
noncompetition, nonsolicitation or proprietary rights. Notwithstanding the foregoing, if a Participant and the Company (or any of its
Affiliates) have entered into an employment agreement, consulting agreement or other similar agreement that specifically defines “cause,”
then with respect to such Participant, “Cause” shall have the meaning defined in that employment agreement, consulting agreement
or other agreement.

2.8    “Change
in Control” shall be deemed to have occurred if:

(a)    any
Person, other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned
directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company,
becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total
voting power represented by the Company’s then outstanding voting securities;

(b)    during
any period of two (2) consecutive years, individuals who at the beginning of such period constitute the Board of Directors of the
Company and any new Director whose election by the Board of Directors or nomination for election by the Company’s stockholders
was approved by a vote of a majority of the Directors then still in office who either were Directors at the beginning of the period or
whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, provided
that this does not apply to a Director whose initial assumption of office during the lookback period is in connection with an actual
or threatened election contest, including but not limited to a consent solicitation, relating to the election of Directors of the Company;

(c)    the
consummation of a merger or consolidation of the Company with any other business entity, 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) at least fifty percent (50%) of the
total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after
such merger or consolidation;

 

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(d)    the
stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the
Company of all or substantially all the Company’s assets; or

(e)    consummation
of the sale or disposition by the Company of all or substantially all of the Company’s assets.

Notwithstanding
the foregoing, if a Change in Control constitutes a payment event with respect to any Award (or any portion of an Award) that provides
for the deferral of compensation that is subject to Section 409A of the Code, to the extent required to avoid the imposition of
additional taxes under Section 409A of the Code, the transaction or event described in subsection (a), (b), (c) or (d) with
respect to such Award (or portion thereof) shall only constitute a Change in Control for purposes of the payment timing of such Award
if such transaction also constitutes a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5).

The
Committee shall have full and final authority, which shall be exercised in its sole discretion, to determine conclusively whether a Change
in Control has occurred pursuant to the above definition, the date of the occurrence of such Change in Control and any incidental matters
relating thereto; provided that any exercise of authority in conjunction with a determination of whether a Change in Control is a “change
in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) shall be consistent with such regulation.

2.9    “Code”
means the Internal Revenue Code of 1986, as amended from time to time, and the Treasury Regulations issued thereunder.

2.10    “Committee”
has the meaning set forth in Section 3.1.

2.11    “Company”
has the meaning set forth in Section 1.1.

2.12    “Consultant”
means any individual or entity who renders bona fide services to the Company or an Affiliate, other than as an Employee or Director, provided
that such services are not in connection with the offer or sale of securities in a capital-raising transaction and do not, directly
or indirectly, promote or maintain a market for the Company’s or its Affiliates’ securities.

2.13    “Deferred
Stock” means a right to receive a specified number of shares of Stock during specified time periods pursuant to Article
9.

2.14    “Director”
means a member of the Board.

2.15    “Disability”
means, unless otherwise determined by the Committee or determined in the applicable Award Agreement, that the Participant is unable to
engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment; provided, however,
that to entitle a Participant to an extended exercise period for an Incentive Stock Option, the Participant must be described in Section 22(e)(3)
of the Code. Notwithstanding the foregoing, for Awards subject to Section 409A of the Code, Disability shall mean that a Participant
is disabled under Section 409A(a)(2)(C)(i) or (ii) of the Code. Notwithstanding the above, the Committee may rely on any determination
that a Participant is disabled for purposes of benefits under any long-term disability plan maintained by the Company or any Affiliate
in which a Participant participates.

 

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2.16    “Dividend
Equivalent” means a right granted to a Participant pursuant to Article 9 to receive the equivalent value (in
cash or Stock) of dividends paid on Stock.

2.17    “Effective
Date” has the meaning set forth in Section 1.3.

2.18    “Eligible
Person” means any person who is an employee, officer, director, consultant, advisor or other individual service provider of
the Company or any Affiliate, or any person who is determined by the Committee to be a prospective employee, officer, director, consultant,
advisor or other individual service provider of the Company or any Affiliate.

2.19    
“Employee” means any person employed by the Company, its Affiliates and/or Subsidiaries; provided, that,
for purposes of determining eligibility to receive Incentive Stock Options, an Employee shall mean an employee of the Company or a parent
or subsidiary corporation within the meaning of Section 424 of the Code. Mere service as a Director or payment of a director’s
fee by the Company or an Affiliate shall not be sufficient to constitute “employment” by the Company or an Affiliate.

2.20    “Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto.

2.21    “Exercise
Price” means the price at which a Share may be purchased by a Participant pursuant to an Option, as determined by the Committee.

2.22    “Fair
Market Value” means, as of any date, unless otherwise determined by the Committee or determined in an applicable Award Agreement,
the value of Stock determined as follows:

(a)    If
the Stock is listed on one or more established stock exchanges or national market systems, including without limitation, The New York
Stock Exchange American (“NYSE”), its Fair Market Value shall be the closing sales price for such Stock (or the closing
bid, if no sales were reported) as quoted on the principal exchange or system on which the Stock is listed (as determined by the Committee)
on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last immediately
preceding trading date such closing sales price or closing bid was reported), as reported in The Wall Street Journal or
such other source as the Committee deems reliable;

(b)    If
the Stock is regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized securities dealer,
its Fair Market Value shall be the closing sales price for such Stock as quoted on such system or by such securities dealer on the date
of determination, but if selling prices are not reported, the Fair Market Value of a share of Stock shall be the mean between the high
bid and low asked prices for the Stock on the date of determination (or, if no such prices were reported on that date, on the last date
such prices were reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable;
or

(c)    In
the absence of an established market for the Stock of the type described in (a) and (b), above, the Fair Market Value thereof
shall be determined by the Committee in good faith using any reasonable method of valuation, which method may be set forth with
greater specificity in the Award Agreement, (and, to the extent necessary or advisable, in a manner consistent with
Section 409A of the Code and Section 422 of the Code for Incentive Stock Options), which determination shall be conclusive
and binding on all interested parties. Such reasonable method may be determined by reference to (i) the placing price of the
latest private placement of the Shares and the development of the Company’s business operations and the general economic and
market conditions since such latest private placement; (ii) other third party transactions involving the Shares and the
development of the Company’s business operation and the general economic and market conditions since such sale;
(iii) an independent valuation of the Shares (by a qualified valuation expert); or (iv) such other methodologies or
information as the Committee determines to be indicative of Fair Market Value.

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2.23    “Incentive
Stock Option” means an Option that is intended to qualify as an “incentive stock option” within the meaning of
Section 422 of the Code and that meets the requirements set out in the Plan.

2.24    “Insider”
means an individual who is, on the relevant date, an officer, director, or ten percent (10%) beneficial owner of the Company, as those
terms are defined under Section 16 of the Exchange Act, who is required to file reports pursuant to Rule 16a-3 under the
Exchange Act.

2.25    “ISO”
has the meaning set forth in Section 6.2.

2.26    “Non-Employee Director”
means a member of the Board who is not an Employee of the Company.

2.27    “Non-Qualified Stock
Option” means an Option that, by its terms, does not qualify or is not intended to qualify as an Incentive Stock Option.

2.28    “NYSE”
has the meaning set forth in Section 2.22(a).

2.29    “Option”
means the right to purchase Stock granted to a Participant in accordance with Article 6. Options granted under the Plan may
be Non-Qualified Stock Options, Incentive Stock Options or a combination thereof.

2.30    “Other
Stock-Based Award” means an equity-based or equity-related Award not otherwise described by the terms of the Plan, granted
pursuant to Article 9.

2.31    “Participant”
means an Eligible Person to whom an Award is granted under the Plan or, if applicable, such other person who holds an outstanding Award.

2.32    “Performance
Bonus Award” has the meaning set forth in Section 9.6.

2.33    “Performance
Goal” means any goals established by the Committee pursuant to an Award, which may be based on the attainment of specified
levels of one or more of the following: (i) earnings per share; (ii) sales; (iii) operating income; (iv) gross
income; (v) basic or adjusted net income (before or after taxes); (vi) cash flow; (vii) gross profit; (viii) gross or
operating margin; (ix) working capital; (x) earnings before interest and taxes; (xi) earnings before interest, tax,
depreciation and amortization; (xii) return measures, including return on invested capital, sales, assets, or equity;
(xiii) revenues; (xiv) market share; (xv) the price or increase in price of Stock; (xvi) total shareholder return;
(xvii) economic value created or added; (xviii) expense reduction; (xix) implementation or completion of critical
projects, including acquisitions, divestitures, and other strategic objectives, including market penetration and product
development; (xx) specified objectives with regard to limiting the level of increase in all or a portion of the Company’s
bank debt or other long-term or short-term public or private debt or other similar financial obligations of the
Company; or (xxi) any other metric that may be determined by the Committee. Such performance goals also may be based solely by
reference to the Company’s performance or the performance of a Subsidiary, division, business segment or business unit of the
Company or a Subsidiary, or based upon performance relative to performance of other companies or upon comparisons of any of the
indicators of performance relative to performance of other companies. The Committee may provide for exclusion of the impact of an
event or occurrence which the Committee determines should appropriately be excluded, including (a) restructurings,
discontinued operations, extraordinary items, and other unusual, infrequently occurring or non-recurring charges or
events, (b) asset write-downs, (c) litigation or claim judgments or settlements, (d) acquisitions or divestitures,
(e) reorganization or change in the corporate structure or capital structure of the Company, (f) an event either not
directly related to the operations of the Company, Subsidiary, division, business segment or business unit or not within the
reasonable control of management, (g) foreign exchange gains and losses, (h) a change in the fiscal year of the Company,
(i) the refinancing or repurchase of bank loans or debt securities, (j), unbudgeted capital expenditures, (k) the issuance
or repurchase of equity securities and other changes in the number of outstanding shares, (l) conversion of some or all of
convertible securities to common stock, (m) any business interruption event, (n) the cumulative effects of tax or
accounting changes in accordance with U.S. generally accepted accounting principles, or (o) the effect of changes in other laws
or regulatory rules affecting reported results. The Committee may adjust upwards or downwards the amount payable pursuant to such
performance-based Award, and the Committee shall certify the amount of any such Award for the applicable performance period before
payment is made.

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2.34    “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 Goals will be measured for the purpose of determining a Participant’s right
to, and the payment of, Performance Stock Units and Performance Shares.

2.35    “Performance
Stock Unit” and “Performance Share” each mean an Award granted to an Employee pursuant to Article
9 herein.

2.36    “Permitted
Transferee” shall mean, with respect to a Participant, any “family member” of the Participant, as defined in the
General Instructions to Form S-8 Registration Statement under the Securities Act (or any successor form thereto), or to any
other transferee specifically approved by the Committee after taking into account Applicable Law, but excluding any third-party financial
institutions.

2.37    “Person”
has the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including
a “group” as defined in Section 13(d) thereof.

2.38    “Plan”
has the meaning set forth in Section 1.1.

2.39    “Prior
Plan” means the P10 Holdings, Inc. 2018 Stock Incentive Plan.

2.40    “Restricted
Stock” means Stock awarded to a Participant pursuant to Article 8 as to which the Restriction Period has not
lapsed.

2.41    “Restricted
Stock Unit” means an Award granted pursuant to Section 8.9 as to which the Restriction Period has not
lapsed.

2.42    “Restriction
Period” means the period when Restricted Stock or Restricted Stock Units are subject to a “substantial risk of forfeiture”
within the meaning of Section 83 of the Code (based on the passage of time, the achievement of performance goals, or upon the occurrence
of other events as determined by the Committee, in its discretion), as provided in Article 8.

2.43    “Securities
Act” means the Securities Act of 1933, as amended.

2.44    “Share”
means a share of Stock of the Company.

2.45    “Stock”
means the common stock of the Company, par value $0.001 per share.

 

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2.46    “Stock
Appreciation Right” or “SAR” means a right granted pursuant to Article 7 to receive an
amount payable in cash or Shares equal to the excess of (a) the Fair Market Value of a specified number of Shares on the date the
SAR is exercised over (b) the Fair Market Value of such Shares on the date the SAR was granted as set forth in the applicable Award
Agreement.

2.47    “Subsidiary”
means any corporation, partnership, venture, unincorporated association or other entity in which the Company holds, directly or indirectly,
a fifty percent (50%) or greater ownership interest, provided, however, that with respect to an Incentive Stock Option, a Subsidiary
must be a corporation. The Committee may, at its sole discretion, designate, on such terms and conditions as the Committee shall determine,
any other corporation, partnership, limited liability company, venture, or other entity a Subsidiary for purposes of this Plan.

2.48    “Ten
Percent Owner” means a person who owns, or is deemed within the meaning of Section 424(d) of the Code to own, stock possessing
more than 10% of the total combined voting power of all classes of stock of the Company (or any parent or subsidiary corporations of
the Company, as defined in Sections 424(e) and (f), respectively, of the Code). Whether a person is a Ten Percent Owner shall be
determined with respect to an Option based on the facts existing immediately prior to the grant date of the Option.

2.49    “Termination
of Employment” or a similar reference means the event where the Employee is no longer an Employee of the Company or of any
Subsidiary, including but not limited to where the employing company ceases to be a Subsidiary. With respect to any Participant who is
not an Employee, “Termination of Employment” shall mean cessation of the performance of services. With respect to any Award
that provides “non-qualified deferred compensation” within the meaning of Section 409A of the Code, “Termination
of Employment” shall mean a “separation from service” as defined under Section 409A of the Code. Military or sick
leave or other bona fide leave shall not be deemed a termination of employment, provided that it does not exceed the longer of three
(3) months or the period during which the absent Participant’s reemployment rights, if any, are guaranteed by statute or by
contract.

2.50    “Treasury
Regulation” or “Treas. Reg.” means any regulation promulgated under the Code, as such regulation may be
amended from to time.

2.51    “Withholding
Taxes” has the meaning set forth in Section 12.1.

Article
3

Administration

3.1    The
Committee. Except as otherwise provided herein, the Plan shall be administered by the Compensation Committee of the Board (the
“Committee”). Unless otherwise determined by the Board, the Committee shall consist solely of two or more members
of the Board each of whom is (a) a “non-employee director” within the meaning of Rule 16b-3 of
the Exchange Act, and (b) an “independent director” under the rules of the NYSE (or any similar rule or listing
requirement that may be applicable to the Company from time to time); provided, that any action taken by the Committee shall be
valid and effective, whether or not members of the Committee at the time of such action are later determined not to have satisfied
the requirements for membership set forth in this Section 3.1 or otherwise provided in any charter of the
Committee. Notwithstanding the foregoing: (a) the full Board, acting by a majority of its members in office or by designation
to a Committee, shall conduct the general administration of the Plan with respect to all Awards granted
to Non-Employee Directors and for purposes of such Awards the term “Committee” as used in this Plan shall be
deemed to refer to the Board and (b) the Committee may delegate its authority hereunder to the extent permitted
by Section 3.4. In its sole discretion, the Board may at any time and from time to time exercise any and all rights
and duties of the Committee under the Plan except with respect to matters which under Rule 16b-3 under the Exchange Act,
or any regulations or rules issued thereunder, are required to be determined in the sole discretion of the Committee. Except as may
otherwise be provided in any charter of the Committee, appointment of Committee members shall be effective upon acceptance of
appointment; Committee members may resign at any time by delivering written notice to the Board; and vacancies in the Committee may
only be filled by the Board.

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3.2    Authority
of the Committee. Subject to the general purposes, terms and conditions of this Plan and Applicable Law, and to the direction of
the Board, the Committee shall have complete control over the administration of the Plan and shall have full authority to (a) exercise
all of the powers granted to it under the Plan, (b) construe, interpret and implement the Plan, grant terms and grant notices, and
all Award Agreements, (c) prescribe, amend and rescind rules and regulations relating to the Plan, including rules governing its
own operations, (d) make all determinations necessary or advisable in administering the Plan, (e) correct any defect, supply
any omission and reconcile any inconsistency in the Plan, (f) amend the Plan to reflect changes in Applicable Law (whether or not
the rights of the holder of any Award are adversely affected, unless otherwise provided by the Committee), (g) grant Awards and determine
who shall receive Awards, when such Awards shall be granted and the terms and conditions of such Awards, including, but not limited to,
conditioning the exercise, vesting, payout or other term of condition of an Award on the achievement of Performance Goals, (h) unless
otherwise provided by the Committee, amend any outstanding Award in any respect, not materially adverse to the Participant, including,
without limitation, to (i) accelerate the time or times at which the Award becomes vested, unrestricted or may be exercised (and,
in connection with such acceleration, the Committee may provide that any Shares acquired pursuant to such Award shall be restricted Shares,
which are subject to vesting, transfer, forfeiture or repayment provisions similar to those in the Participant’s underlying Award),
(ii) accelerate the time or times at which Shares are delivered under the Award (and, without limitation on the Committee’s rights,
in connection with such acceleration, the Committee may provide that any shares of Stock delivered pursuant to such Award shall be Restricted
Shares, which are subject to vesting, transfer, forfeiture or repayment provisions similar to those in the Participant’s underlying
Award), or (iii) waive or amend any goals, restrictions or conditions applicable to such Award, or impose new goals, restrictions
and (a) determine at any time whether, to what extent and under what circumstances and method or methods (i) Awards may be
(A) settled in cash, Shares, other securities, other Awards or other property (in which event, the Committee may specify what other
effects such settlement will have on the Participant’s Award), (B) exercised or (C) canceled, forfeited or suspended, (b) Shares,
other securities, cash, other Awards or other property and other amounts payable with respect to an Award may be deferred either automatically
or at the election of the Participant or of the Committee, or (c) Awards may be settled by the Company or any of its Subsidiaries
or any of its or their designees.

No
Award may be made under the Plan after the tenth (10th) anniversary of the Effective Date.

3.3    Committee
Decisions Final. The act or determination of a majority of the Committee shall be the act or determination of the Committee and any
decision reduced to writing and signed by all of the members of the Committee shall be fully effective as if it had been made by a majority
at a meeting duly held. The Committee may employ attorneys, consultants, accountants, agents, and other persons, any of whom may be an
Employee, and the Committee, the Company, and its officers and Directors shall be entitled to rely upon the advice, opinions, or valuations
of any such persons. All actions taken and all interpretations and determinations made by the Committee pursuant to the provisions of
the Plan and all related orders or resolutions shall be final and binding upon the Participants, the Company, and all other interested
persons, including but not limited to the Company, its stockholders, Employees, Participants, and their estates and beneficiaries.

 

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3.4    Delegation
of Authority. The Board or Committee may from time to time delegate to a committee of one or more members of the Board or one or
more officers of the Company the authority to grant or amend Awards or to take other administrative actions pursuant to this Article
3; provided, however, that in no event shall an officer of the Company be delegated the authority to grant Awards to, or amend Awards
held by, the following individuals: (a) individuals who are subject to Section 16 of the Exchange Act, or (b) officers
of the Company (or Directors) to whom authority to grant or amend Awards has been delegated hereunder; provided, further, that any delegation
of administrative authority shall only be permitted to the extent it is permissible under the Company’s Certificate of Incorporation,
Bylaws and Applicable Law. Any delegation hereunder shall be subject to the restrictions and limits that the Board or Committee specifies
at the time of such delegation or that are otherwise included in the applicable Organizational Documents, and the Board or Committee,
as applicable, may at any time rescind the authority so delegated or appoint a new delegatee. At all times, the delegatee appointed under
this Section 3.4 shall serve in such capacity at the pleasure of the Board or the Committee, as applicable, and
the Board or the Committee may abolish any committee at any time and re-vest in itself any previously delegated authority

3.5    Indemnification.
To the extent allowable pursuant to Applicable Law, each member of the Committee or of the Board shall be indemnified and held harmless
by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection
with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved
by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction
of judgment in such action, suit, or proceeding against him or her; provided he or she gives the Company an opportunity, at its own expense,
to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification
shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant to the Company’s Certificate
of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless.

Article
4

Shares
Subject to the Plan

4.1    Number
of Shares. Subject to adjustment as provided in Sections 4.2 and 4.3, the aggregate number of Shares
of Stock which may be issued or transferred pursuant to Awards under the Plan shall be the sum of 8,000,000 shares plus the number of
shares available for grant under the Prior Plan as of the Effective Date. Notwithstanding the foregoing, in order that the applicable
regulations under the Code relating to Incentive Stock Options be satisfied, the maximum number of shares of Stock that may be delivered
upon exercise of Incentive Stock Options shall be 750,000, as adjusted under Sections 4.2 and 4.3. Shares
of Stock issued pursuant to the Plan may be either authorized but unissued Shares or Shares held by the Company in its treasury. Upon
effectiveness of the Plan, no further awards shall be granted under a Prior Plan.

4.2    Share
Accounting. Without limiting the discretion of the Committee under this section, the following rules will apply for purposes of the
determination of the number of Shares available for grant under the Plan or compliance with the foregoing limits:

(a)    If
an outstanding Award for any reason expires or is terminated or canceled without having been exercised or settled in full, or if
Shares acquired pursuant to an Award subject to forfeiture are forfeited under the terms of the Plan or the relevant Award, the
Shares allocable to the terminated portion of such Award or such forfeited Shares shall again be available for issuance under the
Plan. This subsection 4.2(a) shall also apply to awards granted under the Prior Plan, which are
outstanding as of the Effective Date.

 

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(b)    Shares
shall not be deemed to have been issued pursuant to the Plan (or the Prior Plan) with respect to any portion of an Award that is settled
in cash, other than an Option.

(c)    In
the event that withholding tax liabilities arising from a full-value Award (i.e., an award other than an Option or SAR) or, after the
Effective Date, arising from a full-value award under the Prior Plan, are satisfied by the delivery or withholding of shares, the shares
so tendered or withheld shall be added to the Plan’s reserve. Notwithstanding anything to the contrary contained herein, shares
subject to an Award shall not again be made available for issuance or delivery under the Plan if such shares are (i) shares tendered
in payment of an Option; (ii) shares delivered or withheld by the Company to satisfy any tax withholding obligation with respect
to an Option or SAR; (iii) shares covered by a stock-settled Stock Appreciation Right that were not issued upon the settlement of
the SAR; or (iv) shares purchased on the open market with Option proceeds.

4.3    Adjustments
in Authorized Plan Shares and Outstanding Awards. In the event of any merger, reorganization, consolidation, recapitalization, separation, split-up, spin-off, liquidation,
Share combination, Stock split, Stock dividend, an extraordinary cash distribution on Stock, a corporate separation or other reorganization
or liquidation or other change in the corporate or capital structure of the Company affecting the Shares, an adjustment shall be made
in a manner consistent with Sections 422 and 424(h)(3) of the Code for Incentive Stock Options and in a manner consistent with Section 409A
of the Code for Non-Qualified Stock Options and Stock Appreciation Rights and in the number and class of and/or price of Shares
subject to outstanding Awards granted under the Plan, and/or the number of outstanding Options, Stock Appreciation Rights, Shares of
Restricted Stock, and Performance Shares (and Restricted Stock Units, Performance Stock Units and other Awards whose value is based on
a number of Shares) constituting outstanding Awards, as may be determined to be appropriate and equitable by the Committee, in its sole
discretion, to prevent dilution or enlargement of rights. The Committee shall also adjust any available share reserve accordingly. The
Committee may make adjustments in the terms and conditions of, and the criteria included in Awards in recognition of unusual or nonrecurring
events (including, without limitation, the events described in this Section) affecting the Company or the financial statements of the
Company or of changes in Applicable Laws, regulations, or accounting principles, whenever the Committee determines that such adjustments
are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under
the Plan. Adjustments under this Section 4.3 shall be consistent with Section 409A of the Code and adjustments
pursuant to determination of the Committee shall be conclusive and binding on all Participants under the Plan.

4.4    Limitation
on Number of Shares Granted to Non-Employee Directors. The maximum number of Shares subject to Awards granted during a
single fiscal year to any Non-Employee Director, taken together with any cash fees paid during the fiscal year to the Non-Employee Director,
in respect of such Director’s service as a member of the Board during such year (including service as a member or chair of any
committees of the Board), shall not exceed $500,000 in total value (calculating the value of any such Awards based on the grant date
Fair Market Value of such Awards for financial reporting purposes). The independent members of the Board may make exceptions to this
limit for a non-executive chair of the Board, provided that the Non-Employee Director receiving such additional compensation
may not participate in the decision to award such compensation.

 

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Article
5

Eligibility
and Participation

5.1    Eligibility
and Participation. Subject to the provisions of the Plan, the Committee may, from time to time, select from all Eligible Persons,
those to whom Awards shall be granted and shall determine, in its sole discretion, the nature of, any and all terms permissible by law,
and the amount of each Award. In making this determination, the Committee may consider any factors it deems relevant, including without
limitation, the office or position held by a Participant or the Participant’s relationship to the Company, the Participant’s
degree of responsibility for and contribution to the growth and success of the Company or any Subsidiary or Affiliate, the Participant’s
length of service, promotions and potential. No individual shall have the right to be selected to receive an Award under this Plan, or,
having been so selected, to be selected to receive a future Award. In addition, there is no obligation for uniformity of treatment of
Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations
with respect thereto need not be the same with respect to each Participant and may be made selectively among Participants, whether or
not such Participants are similarly situated.

5.2    Foreign
Participants. In order to assure the viability of Awards granted to Participants employed in foreign countries, the Committee may
provide for such special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom.
Moreover, the Committee may approve such supplements to, or amendments, restatements, or alternative versions of, the Plan as it may
consider necessary or appropriate for such purposes without thereby affecting the terms of the Plan as in effect for any other purpose;
provided, however, that no such supplements, amendments, restatements, or alternative versions shall increase the share limitations contained
in Section 4.1 of the Plan.

Article
6

Options

6.1    Grant
of Options. Subject to the terms and provisions of the Plan, Options may be granted to Participants in such number, and upon such
terms and conditions, and at any time and from time to time as shall be determined by the Committee, in its sole discretion, subject
to the limitations set forth in Article 4 and the following terms and conditions:

(a)    Award
Agreement. Each Option grant shall be evidenced by an Award Agreement that shall specify the terms and conditions of the Option,
including the Exercise Price, the maximum duration of the Option, the number of Shares to which the Option pertains, the conditions upon
which an Option shall become vested and exercisable, and such other provisions as the Committee shall determine which are not inconsistent
with the terms of the Plan. The Award Agreement also shall specify whether the Option is intended to be an Incentive Stock Option or
a Non-Qualified Stock Option.

(b)    Exercise
Period. Unless a shorter period is otherwise provided by the Committee at the time of grant, each Option will expire on the
tenth (10th) anniversary date of its grant or on the fifth (5th) anniversary of its grant date if the
Participant is a Ten Percent Owner. Notwithstanding the foregoing, in the event that on the last business day of the term of an
Option (x) the exercise of which is prohibited by Applicable Law or (y) Shares may not be purchased or sold by certain
Employees or Directors of the Company due to a “black-out period” of a Company policy or
a “lock-up” agreement undertaken in connection with an issuance of securities by the Company, the Committee
may provide that the term of the Option shall be extended but not beyond a period of thirty (30) days following the end of the
legal prohibition, black-out period or lock-up agreement and provided further that no extension will be made if
the grant price of such Option at the date the initial term would otherwise expire is above the Fair Market Value.

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(c)    Exercise
Price. Unless a greater Exercise Price is determined by the Committee, the Exercise Price for each Option awarded under this Plan
shall be equal to one hundred percent (100%) of the Fair Market Value of a Share on the date the Option is granted. Notwithstanding the
foregoing, the Committee may determine the Exercise Price for a substitute Award, provided such Exercise Price does not violate Applicable
Law (including, but not limited to, Section 409A of the Code).

(d)    Vesting
of Options. A grant of Options shall vest at such times and under such terms and conditions as determined by the Committee including,
without limitation, suspension of a Participant’s vesting during all or a portion of a Participant’s leave of absence.

6.2    Limitations
on Incentive Stock Options. In addition to the general requirements of Article 6, the terms of any Incentive Stock Option
(“ISO”) granted pursuant to the Plan must comply with the provisions of this Section 6.2.

(a)    ISO
Eligibility. ISOs may be granted only to Employees of the Company or of any parent or subsidiary corporation (as permitted under
Sections 422 and 424 of the Code). No ISO Award may be made pursuant to this Plan after the tenth (10th) anniversary of the Effective
Date. ISOs shall not be granted until such time as stockholders approve this Plan. This Plan will be deemed to be approved by stockholders
if it receives the affirmative vote of a majority of the votes cast at a meeting duly held in accordance with the applicable provisions
of the Company’s Bylaws.

(b)    ISO
Individual Dollar Limitation. The aggregate Fair Market Value (determined as of the date the Option is granted) of all Shares with
respect to which Incentive Stock Options are first exercisable by a Participant in any calendar year may not exceed one hundred thousand
dollars ($100,000.00) or such other limitation as imposed by Section 422(d) of the Code. To the extent that Incentive Stock Options
are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Stock Options.

(c)    ISO
Expiration. An ISO will expire and may not be exercised to any extent by anyone after the first to occur of the following events:

(i)    Ten
(10) years from the date of grant, unless an earlier time is set in the Award Agreement;

(ii)    Three
(3) months after the date of the Participant’s Termination of Employment other than on account of Disability or death. Whether
a Participant continues to be an employee shall be determined in accordance with Treas. Reg. Section 1.421-1(h)(2); and

(iii)    One
(1) year after the date of the Participant’s Termination of Employment on account of Disability or death. Upon the Participant’s
Disability or death, any ISOs exercisable at the Participant’s Disability or death may be exercised by the Participant’s
legal representative or representatives, by the person or persons entitled to do so pursuant to the Participant’s last will and
testament, or, if the Participant fails to make testamentary disposition of such ISO or dies intestate, by the person or persons entitled
to receive the ISO pursuant to the Applicable Laws of descent and distribution.

Any
ISO that remains exercisable pursuant to a Participant’s agreement with the Company following Termination of Employment and is
unexercised more than one (1) year following Termination of Employment by reason of death or Disability or more than three
(3) months following Termination of Employment for any reason other than death or Disability will thereafter be deemed to be
a Non-Qualified Stock Option.

    	 	12	 

    	 

    

 

 

(d)    Ten
Percent Owners. In the case of an ISO granted to a Ten Percent Owner, such ISO shall be granted at an exercise price that is
not less than one hundred and ten percent (110%) of Fair Market Value on the date of grant and, unless a shorter period is otherwise
provided by the Committee at the time of grant, each ISO will expire on the fifth (5th) anniversary of its grant date.

(e)    Notification
of Disposition. If a Participant disposes of Shares acquired upon exercise of an ISO within two (2) years from the date the
Option is granted or within one (1) year after the issuance of such Shares to the Participant, the Participant shall notify the
Company of such disposition and provide information regarding the date of disposition, sale price, number of Shares disposed of, and
any other information relating thereto that the Company may reasonably request.

(f)    Right
to Exercise. During a Participant’s lifetime, an Incentive Stock Option may be exercised only by the Participant.

(g)    Failure
to Meet ISO Requirements. If an Option is intended to be an Incentive Stock Option, and if, for any reason, such Option (or any portion
thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option (or portion thereof)
shall be regarded as a Non-Qualified Stock Option appropriately granted under the Plan; provided that such Option (or portion
thereof) otherwise complies with the Plan’s requirements relating to Non-Qualified Stock Options.

6.3    Exercise
of Options.

(a)    Options
granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in
each instance approve, which need not be the same for each grant or for each Participant. Exercises of Options may be effected only on
days and during the hours the NYSE is open for regular trading. The Company may change or limit the times or days Options may be exercised.
If an Option expires on a day or at a time when exercises are not permitted, then the Options may be exercised no later than the immediately
preceding date and time that the Options were exercisable.

(b)    An
Option shall be exercised by providing notice to the designated agent selected by the Company (if no such agent has been designated,
then to the Company), in the manner and form determined by the Company, which notice shall be irrevocable, setting forth the exact number
of Shares with respect to which the Option is being exercised and including with such notice payment of the Exercise Price, as applicable.
When an Option has been transferred, the Company or its designated agent may require appropriate documentation that the person or persons
exercising the Option, if other than the Participant, has the right to exercise the Option. No Option may be exercised with respect to
a fraction of a Share.

6.4    Termination
of Employment. Unless otherwise provided by the Committee in the applicable Award Agreement, the following limitations on the exercise
of Options shall apply upon Termination of Employment:

(a)    Termination
by Death or Disability. In the event of the Participant’s Termination of Employment by reason of death or Disability, all outstanding
Options granted to such Participant which are vested and exercisable as of the effective date of Termination of Employment by reason
of death or Disability may be exercised, if at all, no more than one (1) year from such date of Termination of Employment, unless
the Options, by their terms, expire earlier. All unvested Options granted to such Participant shall immediately become forfeited.

 

    	 	13	 

    	 

    

 

(b)    Involuntary
Termination Without Cause. If a Participant’s Termination of Employment is by involuntary termination without Cause, all Options
held by such Participant that are vested and exercisable at the time of the Participant’s Termination of Employment may be exercised
by the Participant at any time within a period of ninety (90) days from the date of such Termination of Employment, but in no event
beyond the expiration of the stated term of such Options. All Options held by the Participant which are not vested on or before the effective
date of Termination of Employment shall immediately be forfeited to the Company (and the Shares subject to such forfeited Options shall
once again become available for issuance under the Plan).

(c)    Voluntary
Termination. If a Participant’s Termination of Employment is voluntary (other than a voluntary termination described in Section 6.4(d)),
all Options held by such Participant that are vested and exercisable at the time of the Participant’s Termination of Employment
may be exercised by the Participant at any time within a period of ninety (90) days from the date of such Termination of Employment,
but in no event beyond the expiration of the stated terms of such Options. All Options held by the Participant which are not vested on
or before the effective date of Termination of Employment shall immediately be forfeited to the Company (and the Shares subject to such
forfeited Options shall once again become available for issuance under the Plan).

(d)    Termination
for Cause. If the Participant’s Termination of Employment (i) is by the Company for Cause or (ii) is a voluntary
Termination (as provided in Subsection (c) above) after the occurrence of an event that would be grounds for Termination
of Employment for Cause, all outstanding Options held by the Participant shall immediately be forfeited to the Company and no additional
exercise period shall be allowed, regardless of the vested status of the Options (and the Shares subject to such forfeited Options shall
once again become available for issuance under the Plan).

(e)    Other
Terms and Conditions. A Participant holding an Option is not eligible to receive dividends or Dividend Equivalents. Notwithstanding
the foregoing, the Committee may, in its sole discretion, establish different, or waive, terms and conditions pertaining to the effect
of Termination of Employment on Options, whether or not the Options are outstanding, but no such modification shall be materially adverse
to the Participant.

6.5    Payment.
The Committee shall determine the methods by which payments by any Participant with respect to any Awards granted under the Plan may
be paid and the form of payment. Unless otherwise determined by the Committee, the Exercise Price shall be paid in full at the time of
exercise. No Shares shall be issued or transferred until full payment has been received or the next business day thereafter, as determined
by the Company. The Committee may, from time to time, determine or modify the method or methods of exercising Options or the manner in
which the Exercise Price is to be paid. Unless otherwise provided by the Committee in full or in part, to the extent permitted by Applicable
Law, payment may be made by any of the following:

(a)    cash
or certified or bank check;

(b)    delivery
of Shares owned by the Participant duly endorsed for transfer to the Company, with a Fair Market Value of such Shares delivered on the
date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares being acquired;

(c)    if
the Company has designated a stockbroker to act as the Company’s agent to process Option exercises, an Option may be exercised
by issuing an exercise notice together with instructions to such stockbroker irrevocably instructing the stockbroker: (i) to
immediately sell (which shall include an exercise notice that becomes effective upon execution of a sale order) a sufficient portion
of the Shares to be received from the Option exercise to pay the Exercise Price of the Options being exercised and the required
tax withholding, and (ii) to deliver on the settlement date the portion of the proceeds of the sale equal to the Exercise Price
and tax withholding to the Company. In the event the stockbroker sells any Shares on behalf of a Participant, the stockbroker shall
be acting solely as the agent of the Participant, and the Company disclaims any responsibility for the actions of the stockbroker in
making any such sales. However, if the Participant is an Insider, then the instruction to the stock broker to sell in the preceding
sentence is intended to comply with the requirements of Rule 10b5-1(c)(1)(i)(B) of the Exchange Act to the extent
permitted by law. No Shares shall be issued until the settlement date and until the proceeds (equal to the Exercise Price and tax
withholding) are paid to the Company;

    	 	14	 

    	 

    

 

(d)    at
any time, the Committee may, in addition to or in lieu of the foregoing, provide that an Option may be “stock settled,” which
shall mean upon exercise of an Option, the Company may fully satisfy its obligation under the Option by delivering that number of shares
of Stock found by taking the difference between (i) the Fair Market Value of the Stock on the exercise date, multiplied by the number
of Options being exercised and (ii) the total Exercise Price of the Options being exercised, and dividing such difference by the
Fair Market Value of the Stock on the exercise date; or

(e)    any
combination of the foregoing methods.

Notwithstanding
any other provision of the Plan to the contrary, no Participant who is a Director or an “executive officer” of the Company
shall be permitted to pay the Exercise Price of an Option in any method which would violate Section 13(h) of the Exchange Act.

Article
7

Stock
Appreciation Rights

7.1    Grant
of SARs. Any Participant selected by the Committee may be granted one or more SARs. SARs may be granted alone or in tandem with Options.
Each SAR shall be evidenced by an Award Agreement that shall specify the exercise price, the term of the SAR, and such other provisions
as the Committee shall determine. With respect to SARs granted in tandem with Options, the exercise of either such Options or such SARs
shall result in the simultaneous cancellation of the same number of tandem SARs or Options, as the case may be.

7.2    Exercise
Price. The exercise price per Share covered by a SAR granted pursuant to the Plan shall be equal to or greater than Fair Market Value
on the date the SAR was granted.

7.3    Term.
The term of each SAR shall be determined by the Committee in its sole discretion, but in no event shall the term exceed ten (10) years
from the date of grant. Notwithstanding the foregoing, in the event that on the last business day of the term of a SAR (x) the exercise
of which is prohibited by Applicable Law or (y) Shares may not be purchased or sold by certain Employees or Directors of the Company
due to a “black-out period” of a Company policy or a “lock-up” agreement undertaken in connection
with an issuance of securities by the Company, the Committee may provide that the term of the SAR shall be extended but not beyond a
period of thirty (30) days following the end of the legal prohibition, black-out period or lock-up agreement
and provided further that no extension will be made if the grant price of such SAR at the date the initial term would otherwise expire
is above the Fair Market Value.

7.4    Payment.
SARs may be settled in the form of cash, shares of Stock or a combination of cash and shares of Stock, as determined by the Committee.

7.5    Other
Provisions. Except as the Committee may deem inappropriate or inapplicable in the circumstances, SARs shall be subject to terms
and conditions substantially similar to those applicable to Non-Qualified Options as set forth in Article
6, including, but not limited to, the ineligibility to receive dividends or Dividend Equivalents.

    	 	15	 

    	 

    

 

Article
8

Restricted
Stock Awards

8.1    Grant
of Restricted Stock. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant
shares of Restricted Stock to Eligible Persons in such amounts and upon such terms and conditions as the Committee shall determine. In
addition to any other terms and conditions imposed by the Committee, vesting of Restricted Stock may be conditioned upon the achievement
of Performance Goals.

8.2    Restricted
Stock Agreement. The Committee may require, as a condition to receiving a Restricted Stock Award, that the Participant enter into
a Restricted Stock Award Agreement, setting forth the terms and conditions of the Award. In lieu of a Restricted Stock Award Agreement,
the Committee may provide the terms and conditions of an Award in a notice to the Participant of the Award, on the Stock certificate
representing the Restricted Stock, in the resolution approving the Award, or in such other manner as it deems appropriate. If certificates
representing the Restricted Stock are registered in the name of the Participant, any certificates so issued shall be printed with an
appropriate legend referring to the terms, conditions, and restrictions applicable to such Award as determined or authorized in the sole
discretion of the Committee. Shares recorded in book-entry form shall be recorded with a notation referring to the terms, conditions,
and restrictions applicable to such Award as determined or authorized in the sole discretion of the Committee. The Committee may require
that the stock certificates or book-entry registrations evidencing shares of Restricted Stock be held in custody by a designated escrow
agent (which may but need not be the Company) until the restrictions thereon shall have lapsed, and that the Participant deliver a stock
power, endorsed in blank, relating to the Stock covered by such Award.

8.3    Restrictions.
The Restricted Stock shall be subject to such vesting terms, including the achievement of Performance Goals, as may be determined by
the Committee. Unless otherwise provided by the Committee, to the extent Restricted Stock is subject to any condition to vesting, if
such condition or conditions are not satisfied by the time the period for achieving such condition has expired, such Restricted Stock
shall be forfeited. The Committee may impose such other conditions and/or restrictions on any shares of Restricted Stock granted pursuant
to the Plan as it may deem advisable including but not limited to a requirement that Participants pay a stipulated purchase price for
each share of Restricted Stock and/or restrictions under Applicable Law. The Committee may also grant Restricted Stock without any terms
or conditions in the form of vested Stock Awards.

8.4    Removal
of Restrictions. Except as otherwise provided in this Article 8 or otherwise provided in the grant thereof, Shares
of Restricted Stock covered by each Restricted Stock grant made under the Plan shall become freely transferable by the Participant after
completion of all conditions to vesting, if any. However, the Committee, in its sole discretion, shall have the right to waive all or
part of the restrictions and conditions with regard to all or part of the shares held by any Participant at any time.

8.5    Voting
Rights, Dividends and Other Distributions. Participants holding shares of Restricted Stock granted hereunder may exercise full
voting rights and, subject to the provisions of this Section 8.5, may receive all dividends and distributions paid
with respect to such Shares. If any such dividends or distributions are paid in Shares, the Shares shall automatically be subject to
the same restrictions and conditions as the Restricted Stock with respect to which they were paid. In addition, with respect to a
share of Restricted Stock, dividends shall only be paid out to the extent that the Share of Restricted Stock vests. Any cash
dividends and stock dividends with respect to the Restricted Stock shall be withheld by the Company for the Participant’s
account, and interest may be credited on the amount of the cash dividends withheld at a rate and subject to such terms as
determined by the Committee. The cash dividends or stock dividends so withheld by the Committee and attributable to any particular
share of Restricted Stock (and earnings thereon, if applicable) shall be distributed to the Participant in cash or, at the
discretion of the Committee, in shares of Stock having a Fair Market Value equal to the amount of such dividends, if applicable,
upon the release of restrictions on such share and, if such share is forfeited, the Participant shall have no right to such
dividends.

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8.6    Termination
of Employment Due to Death or Disability. In the event of the Participant’s Termination of Employment by reason of death or
Disability, unless otherwise determined by the Committee, all restrictions imposed on outstanding Shares of Restricted Stock held by
the Participant shall immediately lapse and the Restricted Stock shall immediately become fully vested as of the date of Termination
of Employment.

8.7    Termination
of Employment for Other Reasons. Unless otherwise provided by the Committee, in the event of the Participant’s Termination
of Employment for any reason other than those specifically set forth in Section 8.6 herein, subject to Section 10.2,
all shares of Restricted Stock held by the Participant which are not vested as of the effective date of Termination of Employment shall
immediately be forfeited and returned to the Company.

8.8    Section
83(b) Election. The Committee may provide in an Award Agreement that the Award of Restricted Stock is conditioned upon the Participant
making or refraining from making an election with respect to the Award under Section 83(b) of the Code. If a Participant makes an
election pursuant to Section 83(b) of the Code concerning a Restricted Stock Award, the Participant shall be required to file a
copy of such election with the Company within thirty (30) days following the date of grant.

8.9    Restricted
Stock Units. In lieu of or in addition to Restricted Stock, the Committee may grant Restricted Stock Units under such terms and conditions
as shall be determined by the Committee in accordance with Section 3.2. Restricted Stock Units shall be subject to the
same terms and conditions under this Plan as Restricted Stock except as otherwise provided in this Plan or as otherwise provided by the
Committee. Except as otherwise provided by the Committee, the award shall be settled and paid out promptly upon vesting (to the extent
permitted by Section 409A of the Code), and the Participant holding such Restricted Stock Units shall receive, as determined by
the Committee, Shares (or cash equal to the Fair Market Value of the number of Shares as of the date the Award becomes payable) equal
to the number of such Restricted Stock Units. Restricted Stock Units shall not be transferable, shall have no voting rights, and, unless
otherwise determined by the Committee, shall not receive dividends or Dividend Equivalents (which in any event shall only be paid out
to the extent that the Restricted Stock Units vest). Upon a Participant’s Termination of Employment due to death or Disability,
the Committee will determine whether there should be any acceleration of vesting.

Article
9

Other
Types of Awards

9.1    Performance
Share Awards. Any Participant selected by the Committee may be granted one or more Performance Share awards which shall be denominated
in a number of shares of Stock and which may be linked to any one or more of the Performance Goals or other specific performance criteria
determined appropriate by the Committee, in each case on a specified date or dates or over any period or periods determined by the Committee.
In making such determinations, the Committee shall consider (among such other factors as it deems relevant in light of the specific type
of award) the contributions, responsibilities and other compensation of the particular Participant.

 

    	 	17	 

    	 

    

9.2    Performance
Stock Units. Any Participant selected by the Committee may be granted one or more Performance Stock Unit awards which shall be denominated
in units of value including dollar value of shares of Stock and which may be linked to any one or more of the Performance Goals or other
specific performance criteria determined appropriate by the Committee, in each case on a specified date or dates or over any period or
periods determined by the Committee. In making such determinations, the Committee shall consider (among such other factors as it deems
relevant in light of the specific type of award) the contributions, responsibilities and other compensation of the particular Participant.

9.3    Dividend
Equivalents. Any Participant selected by the Committee may be granted Dividend Equivalents based on the dividends declared on the
Shares that are subject to any Award, to be credited as of dividend payment dates, during the period between the date the Award is granted
and the date the Award is exercised, vests or expires, as determined by the Committee. Such Dividend Equivalents shall be converted to
cash or additional shares of Stock by such formula and at such time and subject to such limitations as may be determined by the Committee,
in a matter consistent with the rules of Section 409A of the Code; provided that, to the extent Shares subject to an Award are subject
to vesting conditions, any Dividend Equivalents relating to such Shares shall be subject to the same vesting conditions.

9.4    Deferred
Stock. Any Participant selected by the Committee may be granted an award of Deferred Stock in the manner determined from time to
time by the Committee. The number of shares of Deferred Stock shall be determined by the Committee and may be linked to the Performance
Goals or other specific performance criteria determined to be appropriate by the Committee, in each case on a specified date or dates
or over any period or periods determined by the Committee. Stock underlying a Deferred Stock Award will not be issued until the Deferred
Stock Award has vested, pursuant to a vesting schedule or performance criteria set by the Committee. Unless otherwise provided by the
Committee, a Participant awarded Deferred Stock shall have no rights as a Company stockholder with respect to such Deferred Stock until
such time as the Deferred Stock Award has vested and the Stock underlying the Deferred Stock Award has been issued.

9.5    Other
Stock-Based Awards. Any Participant selected by the Committee may be granted one or more Awards that provide Participants with shares
of Stock or the right to purchase shares of Stock or that have a value derived from the value of, or an exercise or conversion privilege
at a price related to, or that are otherwise payable in shares of Stock and which may be linked to any one or more of the Performance
Goals or other specific performance criteria determined appropriate by the Committee, in each case on a specified date or dates or over
any period or periods determined by the Committee. In making such determinations, the Committee shall consider (among such other factors
as it deems relevant in light of the specific type of Award) the contributions, responsibilities and other compensation of the particular
Participant.

9.6    Performance
Bonus Awards. Any Participant selected by the Committee may be granted one or more Awards in the form of a cash bonus (a “Performance
Bonus Award”) payable upon the attainment of Performance Goals that are established by the Committee, in each case on a specified
date or dates or over any period or periods determined by the Committee.

9.7    Term.
Except as otherwise provided herein, the term of any Award of Performance Shares, Performance Stock Units, Dividend Equivalents, Deferred
Stock, Other Stock-Based Award and Performance Bonus Award shall be set by the Committee in its discretion.

 

9.8    Exercise
or Purchase Price. The Committee may establish the exercise or purchase price, if any, of any Award of Performance Shares, Performance
Stock Units, Deferred Stock, Other Stock-Based Award and Performance Bonus Award; provided, however, that such price shall not be less
than the Fair Market Value of a share of Stock on the date of grant, unless otherwise permitted by Applicable Law.

 

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9.9    Exercise
Upon Termination of Employment or Service. An Award of Performance Shares, Performance Stock Units, Deferred Stock, Other Stock-Based
Awards and Performance Bonus Awards shall only be exercisable or payable while the Participant is an Employee, Consultant or Non-Employee Director,
as applicable; provided, however, that the Committee in its sole and absolute discretion may provide that an Award of Performance Shares,
Performance Stock Units, Deferred Stock, Stock Appreciation Rights, Other Stock-Based Award and Performance Bonus Award may be exercised
or paid subsequent to a Termination of Employment without Cause. In the event of the Termination of Employment of a Participant by the
Company for Cause, all Awards under this Article 9 shall be forfeited by the Participant to the Company.

9.10    Form
of Payment. Payments with respect to any Awards granted under this Article 9 shall be made in cash, in Stock or
a combination of both, as determined by the Committee.

9.11    Award
Agreement. All Awards under this Article 9 shall be subject to such additional terms and conditions as determined
by the Committee and shall be evidenced by a written Award Agreement.

Article
10

Change
in Control

10.1    Vesting
Upon Change in Control. For the avoidance of doubt, the Committee may not accelerate the vesting and exercisability (as applicable)
of any outstanding Awards, in whole or in part, solely upon the occurrence of a Change in Control except as provided in this Section 10.1.
In the event of a Change in Control after the date of the adoption of the Plan, then:

(a)    to
the extent an outstanding Award subject solely to time-based vesting is not assumed or replaced by a comparable Award referencing shares
of the capital stock of the successor corporation or its “parent corporation” (as defined in Section 424(e) of the Code)
or “subsidiary corporation” (as defined in Section 424(f) of the Code) which is publicly traded on a national stock
exchange or quotation system, as determined by the Committee in its sole discretion, with appropriate adjustments as to the number and
kinds of shares and the exercise prices, if applicable, then any outstanding Award subject solely to time-based vesting then held by
Participants that is unexercisable, unvested or still subject to restrictions or forfeiture shall, in each case as specified by the Committee
in the applicable Award Agreement or otherwise, be deemed exercisable or otherwise vested, as the case may be, as of immediately prior
to such Change in Control;

(b)    any
stock-denominated performance-based Awards outstanding as of the date such Change in Control is determined to have occurred shall be
converted into, as applicable, time-based restricted stock of the successor corporation or its “parent corporation” (as
defined in Section 424(e) of the Code) or “subsidiary corporation” (as defined in Section 424(f) of the Code)
or time-based restricted stock units based on the capital stock of the successor corporation or its “parent corporation”
(as defined in Section 424(e) of the Code) or “subsidiary corporation” (as defined in Section 424(f) of the
Code) and, if, during the 12-month period following the date of such Change in Control, the Participant’s employment
is terminated by such successor (or an affiliate thereof) without Cause or by the Participant for Good Reason, such Awards, to the
extent then outstanding, shall fully vest. With respect to performance-based Awards that are outstanding as of the date of such
Change in Control and are not converted to a time-based Award, any deferral or other restriction shall lapse and such Awards shall
be settled in cash as promptly as is practicable (unless otherwise required by Section 409A of the Code and the applicable
terms of the Awards). In either case, unless otherwise determined by the Committee in an Award Agreement or otherwise, the value of
the performance-based Awards as of the date of the Change in Control shall be determined assuming target performance has been
achieved, except that the value shall be determined based on actual performance as of such date if (i) more than half of the
performance period has elapsed as of such date and (ii) actual performance is determinable as of such date; and

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(c)    Each
outstanding Award that is assumed in connection with a Change in Control, or is otherwise to continue in effect subsequent to the Change
in Control, will be appropriately adjusted, immediately after the Change in Control, as to the number and class of securities and other
relevant terms in accordance with Section 4.3.

10.2    Termination
of Employment Upon Change in Control. Notwithstanding any other provision of the Plan to the contrary, and except as may otherwise
be provided in any applicable Award Agreement or other written agreement entered into between the Company or Affiliate and a Participant,
upon (i) a Participant’s involuntary Termination of Employment without Cause on or within one (1) year following a Change
in Control, or (ii) a Participant’s Termination of Employment for Good Reason (including the Termination of Employment of
the Participant if he or she is employed by an Affiliate at the time the Company sells or otherwise divests itself of such Affiliate),
all outstanding Awards shall immediately become fully vested and exercisable; provided that Restricted Stock Units shall
be settled in accordance with the terms of the grant without regard to the Change in Control unless the Change in Control constitutes
a “change in control event” within the meaning of Section 409A of the Code and such Termination of Employment occurs
within one (1) year following such Change in Control, in which case the Restricted Stock Units shall be settled and paid out with
such Termination of Employment.

10.3    Cancellation
and Termination of Awards. The Committee may, in connection with any merger, consolidation, share exchange or other transaction entered
into by the Company in good faith, determine that any outstanding Awards granted under the Plan, whether or not vested, will be canceled
and terminated and that in connection with such cancellation and termination the holder of such Award may receive for each Share subject
to such Award a cash payment (or the delivery of shares of stock, other securities or a combination of cash, stock and securities equivalent
to such cash payment) equal to the difference, if any, between the amount determined by the Committee to be the Fair Market Value of
the Stock and the purchase price per Share (if any) under the Award multiplied by the number of Shares subject to such Award; provided
that if such product is zero or less or to the extent that the Award is not then exercisable, the Award will be canceled and terminated
without payment therefor.

Article
11

Amendment,
Modification, and Termination

11.1    Amendment,
Modification, and Termination of Plan. At any time and from time to time, the Board may amend, modify, alter, suspend, discontinue
or terminate the Plan, in whole or in part, without stockholder approval; provided, however, that (a) to the extent necessary and
desirable to comply with any Applicable Law, regulation, or stock exchange rule, the Company shall obtain stockholder approval of any
Plan amendment in such a manner and to such a degree as required, and (b) to the extent the Company is listed on the NYSE, stockholder
approval is required for any amendment to the Plan that (i) increases the number of shares available under the Plan (other than
any automatic increase as provided by Section 4.1, any adjustment as provided by Section 4.3) or the
number of shares available for issuance as ISOs, or (ii) permits the Committee to grant Options with an Exercise Price that is below
Fair Market Value on the date of grant (except as otherwise provided in Section 6.1), or (iii) permits the Committee
to extend the exercise period for an Option beyond ten (10) years from the date of grant (except as otherwise provided in Section 6.1),
or (iv) results in a material increase in benefits or a change in eligibility requirements, or (v) changes the granting corporation
or (vi) changes the type of stock.

11.2    Amendment
of Awards. Subject to Section 4.3, at any time and from time to time, the Committee may amend the terms of any
one or more outstanding Awards, provided that the Award as amended is consistent with the terms of the Plan or if necessary
or advisable for the purpose of conforming the Plan or an Award Agreement to any present or future law relating to plans of this or
similar nature (including, without limitation, Section 409A), and to the administrative regulations and rulings promulgated
thereunder.

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11.3    Awards
Previously Granted. No termination, amendment, or modification of the Plan or any Award shall adversely affect in any material way
any Award previously granted under the Plan, without the written consent of the Participant holding such Award; provided, however, that
any such modification made for the purpose of complying with Section 409A of the Code may be made by the Company without the consent
of any Participant.

11.4    Repricing
and Backdating Prohibited. Notwithstanding anything in this Plan to the contrary, except as provided under Section 4.3 and Section 11.2,
neither the Committee nor any other person may (i) amend the terms of outstanding Options or SARs to reduce the exercise or grant
price of such outstanding Options or SARs; (ii) cancel outstanding Options or SARs in exchange for Options or SARs with an exercise
or grant price that is less than the exercise price of the original Options or SARs; or (iii) cancel outstanding Options or SARs
with an exercise or grant price above the current Share price in exchange for cash or other securities. In addition, the Committee may
not make a grant of an Option or SAR with a grant date that is effective prior to the date the Committee takes action to approve such
Award.

Article
12

Withholding

12.1    Tax
Withholding. Unless otherwise provided by the Committee, the Company shall deduct or withhold any amount needed to satisfy any foreign,
federal, state, or local tax (including but not limited to the Participant’s employment tax obligations) required by law to be
withheld with respect to any taxable event arising or as a result of this Plan (“Withholding Taxes”).

12.2    Share
Withholding. Unless otherwise provided by the Committee, upon the exercise of Options, the lapse of restrictions on Restricted Stock,
the vesting of Restricted Stock Units the distribution of Performance Shares in the form of Stock, or any other taxable event hereunder
involving the transfer of Stock to a Participant, the Company shall withhold Stock equal in value, using the Fair Market Value on the
date determined by the Company to be used to value the Stock for tax purposes, to the Withholding Taxes applicable to such transaction.

Unless
otherwise determined by the Committee, when the method of payment for the Exercise Price is from the sale by a stockbroker pursuant to Section 6.5(c),
herein, of the Stock acquired through the Option exercise, then the tax withholding shall be satisfied out of the proceeds. For administrative
purposes in determining the amount of taxes due, the sale price of such Stock shall be deemed to be the Fair Market Value of the Stock.

If
permitted by the Committee, prior to the end of any Performance Period a Participant may elect to have a greater amount of Stock withheld
from the distribution of Performance Shares to pay withholding taxes; provided, however, the Committee may prohibit or limit any individual
election or all such elections at any time.

 

Alternatively,
or in combination with the foregoing, the Committee may require Withholding Taxes to be paid in cash by the Participant or by the sale
of a portion of the Stock being distributed in connection with an Award, or by a combination thereof.

 

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The
withholding of taxes is intended to comply with the requirements of Rule 10b5-1(c)(1)(i)(B) of the Exchange Act to the extent
permitted by law.

Article
13

General
Provisions Applicable to Awards

13.1    Minimum
Vesting Requirement. Notwithstanding any other provision of the Plan to the contrary, Awards granted under the Plan (other than cash-based
awards) shall vest no earlier than the first anniversary of the date on which the Award is granted; provided, that the following
Awards shall not be subject to the foregoing minimum vesting requirement: any (i) substitute Awards granted in connection with awards
that are assumed, converted or substituted pursuant to a merger, acquisition or similar transaction entered into by the Company or any
of its Subsidiaries, (ii) Shares delivered in lieu of fully vested cash obligations, (iii) Awards to Non-Employee Directors
that vest on the earlier of the one-year anniversary of the date of grant and the next annual meeting of stockholders
which is at least 50 weeks after the immediately preceding year’s annual meeting, and (iv) any additional Awards the Committee
may grant, up to a maximum of five percent (5%) of the available share reserve authorized for issuance under the Plan pursuant to Section 4.1 (subject
to adjustment under Section 4.3); and, provided, further, that the foregoing restriction does
not apply to the Committee’s discretion to provide for accelerated exercisability or vesting of any Award, including in cases of
retirement, death, Disability or a Change in Control, in the terms of the Award Agreement or otherwise.

13.2    Form
of Payment. Subject to the provisions of this Plan, the Award Agreement and any Applicable Law, payments or transfers to be made
by the Company or any Affiliate on the grant, exercise, or settlement of any Award may be made in such form as determined by the Committee
including, without limitation, cash, Stock, other Awards, other property, or any combination thereof, and may be made in a single payment
or transfer, in installments, or any combination thereof, in each case determined by rules adopted by the Committee.

13.3    Treatment
of Dividends and Dividend Equivalents on Unvested Awards. Notwithstanding any other provision of the Plan to the contrary, with respect
to any Award that provides for or includes a right to dividends or Dividend Equivalents, if dividends are declared during the period
that an equity Award is outstanding, such dividends (or Dividend Equivalents) shall either (a) not be paid or credited with respect
to such Award or (b) be accumulated but remain subject to vesting requirement(s) to the same extent as the applicable Award and
shall only be paid at the time or times such vesting requirement(s) are satisfied.

13.4    Limits
on Transfer.

(a)    Except
as otherwise provided in Section 13.4(b),

(i)    no
Award may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or the laws of descent
and distribution or pursuant to a domestic relations order, unless and until such Award has been exercised, or the Shares underlying
such Award have been issues, and all restrictions applicable to such Shares have lapsed;

 

(ii)    no
Award or interest or right therein shall be liable for or otherwise subject to the debts, contracts or engagements of the
Participant or the Participant’s successors in interest or shall be subject to disposition by transfer, alienation,
anticipation, pledge, hypothecation, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary
or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy)
unless and until such Award has been exercised, or the Shares underlying such Award have been issued, and all restrictions
applicable to such Shares have lapsed, and any attempted disposition of an Award prior to satisfaction of these conditions shall be
null and void and of no effect, except to the extent that such disposition is permitted by Section 13.4(a)(i);
and

 

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(iii)    during
a Participant’s lifetime, only the Participant or the Participant’s guardian or legal representative may exercise an Award
(or any portion thereof) granted to him or her under the Plan, unless it has been disposed of pursuant to a domestic relations order.
After a Participant’s death, any exercisable portion of an Award may, prior to the time when such portion becomes unexercisable
under the Plan or the applicable Award Agreement, be exercised by such Participant’s personal representative or by any person empowered
to do so under the deceased Participant’s will or under the then Applicable Laws of descent and distribution.

(b)    Notwithstanding Section 13.4(a),
the Committee, in its sole discretion, may determine to permit a Participant or a Permitted Transferee of such Participant to transfer
an Award other than an Incentive Stock Option (unless such Incentive Stock Option is intended to become a Non-Qualified Stock
Option) to any one or more Permitted Transferees of such Participant without consideration, subject to the following terms and conditions:
(i) an Award transferred to a Permitted Transferee shall not be assignable or transferable by the Permitted Transferee other than
(A) to another Permitted Transferee of the applicable Participant or (B) by will or the laws of descent and distribution or,
subject to the consent of the Committee, pursuant to a domestic relations order; (ii) an Award transferred to a Permitted Transferee
shall continue to be subject to all the terms and conditions of the Award as applicable to the original Participant (other than the ability
to further transfer the Award to any person other than another Permitted Transferee of the applicable Participant); and (iii) the
Participant (or transferring Permitted Transferee) and the receiving Permitted Transferee shall execute any and all documents requested
by the Committee, including, without limitation documents to (A) confirm the status of the transferee as a Permitted Transferee,
(B) satisfy any requirements for an exemption for the transfer under Applicable Law and (C) evidence the transfer. In addition,
and further notwithstanding Section 13.4(a), hereof, the Committee, in its sole discretion, may determine to permit
a Participant to transfer Incentive Stock Options to a trust that constitutes a Permitted Transferee if, under Section 671 of the
Code and other Applicable Law, the Participant is considered the sole beneficial owner of the Incentive Stock Option while it is held
in the trust.

13.5    Beneficiaries.
Notwithstanding Section 13.4, if provided in the applicable Award Agreement, a Participant may, in the manner determined
by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any
Award upon the Participant’s death. A beneficiary, legal guardian, legal representative, or other person claiming any rights pursuant
to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant, except to the extent
the Plan and Award Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee.
If the Participant is married and resides in a community property state, a designation of a person other than the Participant’s
spouse as his or her beneficiary with respect to more than fifty percent (50%) of the Participant’s interest in the Award shall
not be effective without the prior written consent of the Participant’s spouse. If no beneficiary has been designated or survives
the Participant, payment shall be made to the person entitled thereto pursuant to the Participant’s will or the laws of descent
and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided
the change or revocation is filed with the Committee.

 

13.6    Forfeiture
Events/Representations. The Committee may specify in an Award Agreement at the time of the Award that the Participant’s
rights, payments and benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon
the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award.
Such events shall include, but shall not be limited to, termination of service for Cause, violation of material Company
policies, breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Participant, or other
conduct by the Participant that is detrimental to the business or reputation of the Company. The Committee may also specify in an
Award Agreement that the Participant’s rights, payments and benefits with respect to an Award shall be conditioned upon the
Participant making a representation regarding compliance with noncompetition, confidentiality or other restrictive covenants that
may apply to the Participant and providing that the Participant’s rights, payments and benefits with respect to an Award shall
be subject to reduction, cancellation, forfeiture or recoupment on account of a breach of such representation. In addition and
without limitation of the foregoing, any amounts paid hereunder shall be subject to recoupment in accordance with The
Dodd–Frank Wall Street Reform and Consumer Protection Act and any implementing regulations thereunder, any
“clawback” policy adopted by the Company or as is otherwise required by applicable law or stock exchange listing
condition.

 

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Awards
under the Plan shall be subject to the Company’s clawback policy, as in effect from time to time. If there shall be no such clawback
policy in effect, (1) awards under the Plan and any Shares issued pursuant to Awards under the Plan (and any gains thereon) shall
be subject to recovery or “clawback” by the Company if and to the extent that the vesting of such Awards was determined or
calculated based on materially inaccurate financial statements or any other material inaccurate performance metric criteria; or (2) if
the Company or its Subsidiaries terminate a Participant’s service relationship due to the Participant’s gross negligence
or willful misconduct, or determine there are grounds for such a termination (whether or not such actions also constitute “cause”
under an Award Agreement), any Awards under the Plan, whether or not vested, as well as any shares of Stock issued pursuant to Awards
under this Plan (and any gains thereon) shall be subject to forfeiture, recovery and “clawback.” Notwithstanding anything
to the contrary contained herein, if a Participant has engaged in any detrimental activity (including noncompliance with restrictive
covenants), as determined by the Committee, the Committee may, in its sole discretion, provide for cancellation of any or all of such
Participant’s outstanding Awards and/or forfeiture by the Participant of any gain realized in respect of Awards, and repayment
of any such gain promptly to the Company.

13.7    No
Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award. The Committee shall determine
whether cash, Awards, or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any
rights thereto shall be forfeited or otherwise eliminated.

13.8    Reservation
of Stock. The Company shall at all times during the term of the Plan and any outstanding Awards granted hereunder reserve or otherwise
keep available such number of Shares of Stock as will be sufficient to satisfy the requirements of the Plan (if then in effect) and the
Awards and shall pay all fees and expenses necessarily incurred by the Company in connection therewith.

13.9    Reimbursement
of Company for Unearned or Ill-gotten Gains. Unless otherwise specifically provided in an Award Agreement, and to the extent
permitted by Applicable Law, if the Company is required to prepare an accounting restatement due to the material noncompliance of the
Company with any financial reporting requirement under the securities laws, the Committee may, without obtaining the approval or consent
of the Company’s shareholders or of any Participant, require that any Participant who

personally
engaged in one of more acts of fraud or misconduct that have caused or partially caused the need for such restatement or any current
or former chief executive officer, chief financial officer, or executive officer, regardless of their conduct, to reimburse the
Company in a manner consistent with Section 409A of the Code, if the Award constitutes “Non-Qualified Deferred
Compensation,” for all or any portion of any Awards granted or settled under this Plan (with each such case being a
“Reimbursement”), or the Committee may require the termination or rescission of, or the recapture associated
with, any Award, in excess of the amount the Participant would have received under the accounting restatement.

 

    	 	24	 

    	 

    

 

13.10    Delay
in Payment. To the extent required in order to avoid the imposition of any interest and/or additional tax under Section 409A(a)(1)(B)
of the Code, any amount that is considered deferred compensation under the Plan or Award Agreement and that is required to be postponed
pursuant to Section 409A of the Code, following the a Participant’s Termination of Employment shall be delayed for six (6) months
if a Participant is deemed to be a “specified employee” as defined in Section 409A(a)(2)(i)(B) of the Code; provided
that, if the Participant dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account
of Section 409A of the Code shall be paid to the executor or administrator of the decedent’s estate within 60 days following
the date of his death. A “Specified Employee” means any Participant who is a “key employee” (as defined
in Section 416(i) of the Code without regard to paragraph (5) thereof), as determined by the Company in accordance with its
uniform policy with respect to all arrangements subject to Section 409A of the Code, based upon the twelve (12) month period
ending on each December 31st (the “Identification Period”). All Participants who are determined to be key employees
under Section 416(i) of the Code (without regard to paragraph (5) thereof) during the identification period shall be treated
as Specified Employees for purposes of the Plan during the twelve (12) month period that begins on the first day of the 4th month
following the close of such identification period.

Article
14

Successors

All
obligations of the Company under the Plan, with respect to Awards granted hereunder, shall be binding on any successor to the Company,
whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or
substantially all of the business and/or assets of the Company.

Article
15

Miscellaneous
Provisions

15.1    Substitute
Awards in Corporate Transactions. Nothing contained in the Plan shall be construed to limit the right of the Committee to grant Awards
under the Plan in connection with the acquisition, whether by purchase, merger, consolidation or other corporate transaction, of the
business or assets of any corporation or other entity. Without limiting the foregoing, the Committee may grant Awards under the Plan
to an employee or director of another corporation who becomes an Eligible Person by reason of any such corporate transaction in substitution
for awards previously granted by such corporation or entity to such person. The terms and conditions of the substitute Awards may vary
from the terms and conditions that would otherwise be required by the Plan solely to the extent the Committee deems necessary for such
purpose. Any shares of Stock subject to these substitute Awards shall not be counted against the share reserve set forth in Article
4 of the Plan.

15.2    409A
Compliance. It is intended that all Awards issued under the Plan be in a form and administered in a manner that will comply with
the requirements of Section 409A of the Code, or the requirements of an exception to Section 409A of the Code, and the
Award Agreement and this Plan will be construed and administered in a manner that is consistent with and gives effect to such
intent. The Committee is authorized to adopt rules or regulations deemed necessary or appropriate to qualify for an exception from
or to comply with the requirements of Section 409A of the Code. With respect to an Award that constitutes a deferral of
compensation subject to Section 409A of the Code: (a) if any amount is payable under such Award upon a termination of
service, a termination of service will be treated as having occurred only at such time the Participant has experienced a
“separation from service” as such term is defined for purposes of Section 409A of the Code; (b) if any amount
is payable under such Award upon a disability, a disability will be treated as having occurred only at such time the Participant has
experienced a “disability” as such term is defined for purposes of Section 409A of the Code; (c) if any amount
is payable under such Award on account of the occurrence of a Change in Control, a Change in Control will be treated as having
occurred only at such time a “change in the ownership or effective control of the corporation or in the ownership of a
substantial portion of the assets of the corporation” has occurred as such terms are defined for purposes of Section 409A
of the Code, (d) if any amount becomes payable under such Award on account of a Participant’s separation from service at
such time as the Participant is a “specified employee” within the meaning of Section 409A of the Code, then no
payment shall be made, except as permitted under Section 409A of the Code, prior to the first business day after the earlier of
(i) the date that is six months after the date of the Participant’s separation from service or (ii) the
Participant’s death, (e) any right to receive any installment payments under this Plan shall be treated as a right to
receive a series of separate payments and, accordingly, each installment payment hereunder shall at all times be considered a
separate and distinct payment, and (f) no amendment to or payment under such Award will be made except and only to the extent
permitted under Section 409A of the Code.

    	 	25	 

    	 

    

 

Notwithstanding
the foregoing, the tax treatment of the benefits provided under the Plan or any Award Agreement is not warranted or guaranteed, and in
no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred
by the Participant on account of non-compliance with Section 409A of the Code.

15.3    Section
16(b) of the Exchange Act. All elections and transactions under the Plan by persons subject to Section 16 of the Exchange Act
involving shares of Stock are intended to comply with any applicable exemptive condition under Rule 16b-3. The Committee may, in its
sole discretion, establish and adopt written administrative guidelines, designed to facilitate compliance with Section 16(b) of
the Exchange Act, as it may deem necessary or proper for the administration and operation of the Plan and the transaction of business
thereunder.

15.4    Unfunded
Status of the Plan. The Plan is intended to constitute an “unfunded” plan for incentive compensation, and the Plan is
not intended to constitute a plan subject to the provisions of ERISA. With respect to any payments not yet made to a Participant by the
Company, nothing contained herein shall give any such Participant any rights that are greater than those of a general creditor of the
Company. In its sole discretion, the Committee may authorize the creation of trusts or other arrangements to meet the obligations created
under the Plan to deliver Stock or payments with respect to Options, Stock Appreciation Rights and other Awards hereunder, provided,
however, that the existence of such trusts or other arrangements is consistent with the unfunded status of the Plan.

15.5    Nonexclusivity
of the Plan. Neither the adoption of the Plan by the Board nor the submission of the Plan to the stockholders of the Company shall
be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable,
including without limitation, the granting of stock options and restricted stock other than under the Plan, and such arrangements may
be either applicable generally or only in specific cases.

 

15.6    Investment
Representations. The Company shall be under no obligation to issue any shares covered by any Award unless the shares to be
issued pursuant to Awards granted under the Plan have been effectively registered under the Securities Act, or the Participant shall
have made such written representations to the Company (upon which the Company believes it may reasonably rely) as the Company may
deem necessary or appropriate for purposes of confirming that the issuance of such shares will be exempt from the registration
requirements of that Act and any applicable state securities laws and otherwise in compliance with all applicable laws, rules and
regulations, including but not limited to that the Participant is acquiring the shares for his or her own account for the purpose of
investment and not with a view to, or for sale in connection with, the distribution of any such shares.

 

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15.7    Registration.
If the Company shall deem it necessary or desirable to register under the Securities Act or other applicable statutes any Shares of Stock
issued or to be issued pursuant to Awards granted under the Plan, or to qualify any such Shares of Stock for exemption from the Securities
Act or other applicable statutes, then the Company shall take such action at its own expense. The Company may require from each recipient
of an Award, or each holder of Shares of Stock acquired pursuant to the Plan, such information in writing for use in any registration
statement, prospectus, preliminary prospectus or offering circular as is reasonably necessary for that purpose and may require reasonable
indemnity to the Company and its officers and directors from that holder against all losses, claims, damage and liabilities arising from
use of the information so furnished and caused by any untrue statement of any material fact therein or caused by the omission to state
a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances
under which they were made. In addition, the Company may require of any such person that he or she agree that, without the prior written
consent of the Company or the managing underwriter in any public offering of Shares of Stock, he or she will not sell, make any short
sale of, loan, grant any option for the purchase of, pledge or otherwise encumber, or otherwise dispose of, any shares of Stock during
the 180 day period commencing on the effective date of the registration statement relating to the underwritten public offering of securities.
Without limiting the generality of the foregoing provisions of this Section 15.7, if in connection with any underwritten
public offering of securities of the Company the managing underwriter of such offering requires that the Company’s directors and
officers enter into a lock-up agreement containing provisions that are more restrictive than the provisions set forth in the
preceding sentence, then (a) each holder of shares of Stock acquired pursuant to the Plan (regardless of whether such person has
complied or complies with the provisions of clause (b) below) shall be bound by, and shall be deemed to have agreed to, the same lock-up terms
as those to which the Company’s directors and officers are required to adhere; and (b) at the request of the Company or such
managing underwriter, each such person shall execute and deliver a lock-up agreement in form and substance equivalent to that
which is required to be executed by the Company’s directors and officers.

15.8    Placement
of Legends; Stop Orders; etc. Each share of Stock to be issued pursuant to Awards granted under the Plan may bear a reference to
the investment representation made in accordance with Section 15.6 in addition to any other applicable restriction
under the Plan, the terms of the Award and to the fact that no registration statement has been filed with the Securities and Exchange
Commission in respect to such shares of Stock. All shares of Stock or other securities delivered under the Plan shall be subject to such
stock transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations, and other requirements
of any stock exchange upon which the Stock is then listed, and any applicable federal or state securities law, and the Committee may
cause a legend or legends to be put on any certificates or recorded in connection with book-entry accounts representing the shares to
make appropriate reference to such restrictions.

 

15.9    Uncertificated
Shares. To the extent that the Plan provides for issuance of certificates to reflect the transfer of Shares, the transfer of such
Shares may be effected on a noncertificated basis, to the extent not prohibited by Applicable Law.

15.10    Limitation
of Rights in Stock. A Participant shall not be deemed for any purpose to be a stockholder of the Company with respect to any of
the Shares of Stock subject to an Award, unless and until Shares shall have been issued therefor and delivered to the Participant or
his agent. Any Stock to be issued pursuant to Awards granted under the Plan shall be subject to all restrictions upon the transfer thereof
which may be now or hereafter imposed by the Certificate of Incorporation and the Bylaws of the Company.

    	 	27	 

    	 

    

15.11    Employment
Not Guaranteed. Nothing in the Plan shall interfere with or limit in any way the right of the Company (or any Affiliate) to terminate
any Participant’s Employment at any time, nor confer upon any Participant any right to continue in the employ of the Company (or
any Affiliate), subject to the terms of any separate employment or consulting agreement or provision of law or corporate articles or by-laws to
the contrary, at any time to terminate such employment or consulting agreement or to increase or decrease, or otherwise adjust, the other
terms and conditions of the recipient’s employment or other association with the Company and its Affiliates.

15.12    Other
Compensation Arrangements. Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation
arrangements, subject to shareholder approval if such approval is required; and such arrangements may be either generally applicable
or applicable only in specific cases.

15.13    Gender
and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the
plural shall include the singular and the singular shall include the plural.

15.14    Plan
Headings. The headings in the Plan are for purposes of convenience only and are not intended to define or limit the construction
of the provisions thereof.

15.15    Severability.
In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect
the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included.

15.16    Requirements
of Law. The granting of Awards and the issuance of Shares under the Plan shall be subject to Applicable Law and to such approvals
by any governmental agencies or national securities exchanges as may be required.

15.17    Errors.
At any time the Company may correct any error made under the Plan without prejudice to the Company. Such corrections may include, among
other things, changing or revoking an issuance of an Award.

15.18    Elections
and Notices. Notwithstanding anything to the contrary contained in this Plan, all elections and notices of every kind shall be made
on forms prepared by the Company, secretary or assistant secretary, or their respective delegates or shall be made in such other manner
as permitted or required by the Company, secretary or assistant secretary, or their respective delegates, including but not limited to
elections or notices through electronic means, over the Internet or otherwise. An election shall be deemed made when received by the
Company (or its designated agent, but only in cases where the designated agent has been appointed for the purpose of receiving such election),
which may waive any defects in form. The Company may limit the time an election may be made in advance of any deadline.

 

Where
any notice or filing required or permitted to be given to the Company under the Plan, it shall be delivered to the principal office of
the Company, directed to the attention of the Chief Financial Officer of the Company or his or her successor. Such notice shall be deemed
given on the date of delivery.

 

    	 	28	 

    	 

    

Notice
to the Participant shall be deemed given when mailed (or sent by telecopy) to the Participant’s work or home address as shown on
the records of the Company or, at the option of the Company, to the Participant’s e-mail address as shown on the records
of the Company.

It
is the Participant’s responsibility to ensure that the Participant’s addresses are kept up to date on the records of the
Company. In the case of notices affecting multiple Participants, the notices may be given by general distribution at the Participants’
work locations.

15.19    Governing
Law. To the extent not preempted by Federal law, the Plan, and all awards and agreements hereunder, and any and all disputes in connection
therewith, shall be governed by and construed in accordance with the substantive laws of the State of Delaware, without regard to conflict
or choice of law principles which might otherwise refer the construction, interpretation or enforceability of this Plan to the substantive
law of another jurisdiction.

15.20    Venue.
The Company and the Participant to whom an Award under this Plan is granted, for themselves and their successors and assigns, irrevocably
submit to the exclusive and sole jurisdiction and venue of the state or federal courts of Delaware with respect to any and all disputes
arising out of or relating to this Plan, the subject matter of this Plan or any awards under this Plan, including but not limited to
any disputes arising out of or relating to the interpretation and enforceability of any awards or the terms and conditions of this Plan.
To achieve certainty regarding the appropriate forum in which to prosecute and defend actions arising out of or relating to this Plan,
and to ensure consistency in application and interpretation of the Governing Law to the Plan, the parties agree that (a) sole and
exclusive appropriate venue for any such action shall be an appropriate federal or state court in Delaware, and no other, (b) all
claims with respect to any such action shall be heard and determined exclusively in such Delaware court, and no other, (c) such
Delaware court shall have sole and exclusive jurisdiction over the person of such parties and over the subject matter of any dispute
relating hereto and (d) that the parties waive any and all objections and defenses to bringing any such action before such Delaware
court, including but not limited to those relating to lack of personal jurisdiction, improper venue or forum non conveniens.

15.21    No
Obligation to Notify. The Company shall have no duty or obligation to any holder of an Option to advise such holder as to the time
or manner of exercising such Option. Furthermore, the Company shall have no duty or obligation to warn or otherwise advise such holder
of a pending transaction or expiration of an Option or a possible period in which the Option may not be exercised. The Company has no
duty or obligation to minimize the tax consequences of an Option to the holder of such Option.

 

    	 	29EX-10.1

 Exhibit 10.1 

DINGDONG (CAYMAN) LIMITED 

2020 Share Incentive Plan 

(Amended and restated as of June 24, 2022) 
  

	1.	 INTRODUCTION 

 

	1.1	 The purpose of this 2020 Share Incentive Plan, as amended and restated from time to time (the
“Plan”), is to promote the success of the Company and enhance the Company’s value of “going hand in hand towards the same goal to achieve success” and building a “strivers-oriented” culture by linking the
personal interests of the Directors, Employees and Consultants to those of the Company’s shareholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to the Company’s
shareholders. 

  

	2.	 DEFINITIONS 

The following terms used in this Plan shall have the meanings specified below: 

 

	2.1	 “Applicable Laws” means (i) the laws of the Cayman Islands as they relate to the Company
and its Shares; (ii) the legal requirements relating to the Plan and the Options under applicable provisions of the corporate, securities, tax and other laws, rules, regulations and government orders of any jurisdiction applicable to the
Options granted to residents; and (iii) the rules of any applicable securities exchange, national market system or automated quotation system on which the Shares are listed, quoted or traded. 

 

	2.2	 “Award Agreement” means any written notice, agreement, terms and conditions, contract or other
instrument or document evidencing an Option, including through electronic medium, which shall contain such terms and conditions with respect to an Option as the Committee shall determine consistent with the Plan. 

 

	2.3	 “Board” means the board of directors of the Company. 

 

	2.4	 “Cause”, with respect to a Participant, means (unless otherwise expressly provided in the
applicable Award Agreement, or another applicable contract with the Participant that defines such term for purposes of determining the effect that a “for cause” termination has on the Participant’s Options) a termination of employment
or service based upon a finding by the Service Recipient, acting in good faith and based on its reasonable belief at the time, that the Participant: 

  

	 	(a)	 has engaged in an act that constitutes (i) a felony or (ii) financial dishonesty against the Company
or any Subsidiary (which act would be chargeable as a crime under Applicable Laws); 

  

	 	(b)	 has engaged in any other act of dishonesty, fraud, intentional misrepresentation, moral turpitude, illegality
or harassment which would or would reasonably be expected to (i) adversely affect the business, the reputation or competitiveness of the Service Recipient with any of their current or prospective customers, suppliers, lenders and/or other third
parties with whom such entity does or might do business; or (ii) expose the Service Recipient to a risk of civil or criminal legal damages, liabilities or penalties; 

 

	 	(c)	 has been negligent in the discharge of his or her duties to the Service Recipient, has refused to perform
stated or assigned duties or is incompetent in or (other than by reason of a Disability or analogous condition) incapable of performing those duties; 

  

	 	(d)	 has breached a fiduciary duty, or willfully and materially violated any other duty, law, rule, regulation or
policy of the Service Recipient; or has been convicted of, or plead guilty or nolo contendere to, a felony or misdemeanor (other than minor traffic violations or similar offenses); 

 

	 	(e)	 has materially breached any of the provisions of any agreement with the Service Recipient;

	 	(f)	 has engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the
reputation, business or assets of the Service Recipient; or 

  

	 	(g)	 has improperly induced a vendor or customer to break or terminate any contract with the Service Recipient or
induced a principal for whom the Service Recipient acts as agent to terminate such agency relationship. 

 A Termination of
Service for Cause shall be deemed to occur (subject to reinstatement upon a contrary final determination by the Committee) on the date on which the Service Recipient first delivers written notice to the Participant of a finding of termination for
Cause. 
  

	2.5	 “Code” shall mean the Internal Revenue Code of 1986 of the United States, as amended from time
to time. 

  

	2.6	 “Committee” shall have the meaning set forth in Section 3.1. 

 

	2.7	 “Company” means Dingdong (Cayman) Limited, an exempted company incorporated under the laws of
the Cayman Islands. 

  

	2.8	 “Consultant” means any consultant or adviser if: (a) the consultant or adviser renders
bona fide services to a Service Recipient; (b) the services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or
maintain a market for the Company’s securities; and (c) the consultant or adviser is a natural person who has contracted directly with the Service Recipient to render such services. 

 

	2.9	 “Corporate Transaction”, unless otherwise defined in an Award Agreement, means any of the
following transactions, provided, however, that the Committee shall determine under (f) and (g) whether multiple transactions are related, and its determination shall be final, binding and conclusive: 

 

	 	(a)	 an amalgamation, arrangement, consolidation or scheme of arrangement in which the Company is not the surviving
entity, except for a transaction the principal purpose of which is to change the jurisdiction in which the Company is incorporated or which following such transaction the holders of the Company’s voting securities immediately prior to such
transaction own fifty percent (50%) or more of the surviving entity; 

  

	 	(b)	 the direct or indirect acquisition by any person or related group of persons (other than an acquisition from or
by the Company or by a Company-sponsored employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made
directly to the Company’s shareholders which a majority of the Incumbent Board (as defined below) who are not affiliates or associates of the offeror under Rule 12b-2 promulgated under the Exchange Act do
not recommend such shareholders accept, or 

  

	 	(c)	 the individuals who, as of the Effective Date, are members of the Board (the “Incumbent
Board”), cease for any reason to constitute at least fifty percent (50%) of the Board; provided that if the election, or nomination for election by the Company’s shareholders, of any new member of the Board is approved by a vote
of at least fifty percent (50%) of the Incumbent Board, such new member of the Board shall be considered as a member of the Incumbent Board; 

  

	 	(d)	 the sale, transfer or other disposition of all or substantially all of the assets of the Company (other than to
a Parent or Subsidiary); 

  

	 	(e)	 the completion of a voluntary or insolvent liquidation or dissolution of the Company; 

	 	(f)	 any reverse takeover, scheme of arrangement, or series of related transactions culminating in a reverse
takeover or scheme of arrangement (including, but not limited to, a tender offer followed by a reverse takeover) in which the Company survives but (A) the Shares of the Company outstanding immediately prior to such transaction are converted or
exchanged by virtue of the transaction into other property, whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s
outstanding securities are transferred to a person or persons different from those who held such securities immediately prior to such transaction culminating in such takeover or scheme of arrangement, but excluding any such transaction or series of
related transactions that the Committee determines shall not be a Corporate Transaction; or 

  

	 	(g)	 acquisition in a single or series of related transactions by any person or related group of persons (other than
the Company or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities possessing more than fifty percent (50%) of the
total combined voting power of the Company’s outstanding securities but excluding any such transaction or series of related transactions that the Committee determines shall not be a Corporate Transaction. 

 

	2.10	 “Date of Grant” means, with respect to an Option, the date that the Option is granted and its
Exercise Price is set (if applicable), consistent with Applicable Laws and applicable financial accounting rules. 

  

	2.11	 “Director” means a member of the Board, as constituted from time to time.

  

	2.12	 “Disability”, unless otherwise defined in an Award Agreement, means that the Participant
qualifies to receive long-term disability payments under the Service Recipient’s long-term disability insurance program, as it may be amended from time to time, to which the Participant provides services regardless of whether the Participant is
covered by such policy. If the Service Recipient to which the Participant provides service does not have a long-term disability plan in place, “Disability” means that a Participant is unable to carry out the responsibilities and functions
of the position held by the Participant by reason of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Participant will not be considered to have incurred a Disability unless
he or she furnishes proof of such impairment sufficient to satisfy the Committee in its discretion. 

  

	2.13	 “Effective Date” shall have the meaning set forth in Section 8.1. 

 

	2.14	 “Employee” means any person, including an officer or a Director, who is in the employment of a
Service Recipient, subject to the control and direction of the Service Recipient as to both the work to be performed and the manner and method of performance. The payment of a director’s fee by a Service Recipient shall not be sufficient to
constitute “employment” by the Service Recipient. 

  

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

  

	2.16	 “Exercise Price” means the price per Share determined pursuant to Section 6.1 and at
which a Participant purchases the Shares by exercising the Option. 

  

	2.17	 “Fair Market Value” means, as of any date, the value of Shares determined as follows:

  

	 	(a)	 If the Shares are listed on one or more established and regulated securities exchanges, national market systems
or automated quotation system on which Shares are listed, quoted or traded, its Fair Market Value shall be the closing sales price for such shares (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which
the Shares are listed (as determined by the Committee) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing sales price or closing bid was
reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; 

	 	(b)	 If the Shares are not listed on an established securities exchange, national market system or automated
quotation system, but are regularly quoted by a recognized securities dealer, its Fair Market Value shall be the closing sales price for such shares as quoted by such securities dealer on the date of determination, but if selling prices are not
reported, the Fair Market Value of a Share shall be the mean between the high bid and low asked prices for the Shares on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as
reported in The Wall Street Journal or such other source as the Committee deems reliable; or 

  

	 	(c)	 In the absence of an established market for the Shares of the type described in (a) and (b), above, the
Fair Market Value thereof shall be determined by the Committee in good faith and in its discretion by reference to (i) the placing price of the latest private placement of the Shares and the development of the Company’s business operations
and the general economic and market conditions since such latest private placement, (ii) other third party transactions involving the Shares and the development of the Company’s business operation and the general economic and market
conditions since such sale, (iii) an independent valuation of the Shares, or (iv) such other methodologies or information as the Committee determines to be indicative of Fair Market Value, relevant. 

 

	2.18	 “Independent Director” means (i) if the Shares or other securities representing the
Shares are not listed on a stock exchange, a Director of the Company who is a Non-Employee Director; and (ii) if the Shares or other securities representing the Shares are listed on one or more stock
exchanges, a Director of the Company who meets the independence standards under the applicable corporate governance rules of the stock exchange(s). 

  

	2.19	 “Non-Employee Director” means a member of the Board
who qualifies as a “Non-Employee Director” as defined in Rule 16b-3(b)(3) of the Exchange Act, or any successor definition adopted by the Board.

  

	2.20	 “Option” means a right granted to a Participant pursuant to Article 6 of the Plan to purchase
a specified number of Shares at a specified price during specified time periods. 

  

	2.21	 “Parent” means any entity whether domestic or foreign, in an unbroken chain of entities ending
with the Company, if each of the entities other than the first entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests representing more than fifty percent (50%) of the total combined voting power of
all classes of securities or interests in one of the other entities in such chain. 

  

	2.22	 “Participant” means a person who, as a Director, Employee or Consultant, has been granted an
Option pursuant to the Plan. 

  

	2.23	 “Service Recipient” means the Company, any Parent or Subsidiary of the Company to which a
Participant provides services as a Director, Employee, or Consultant. 

  

	2.24	 “Share” means a Class A ordinary share of the Company, par value US$0.000002 per share,
and such other securities of the Company that may be substituted for Shares pursuant to Article 7. 

  

	2.25	 “Subsidiary” means any entity (other than the Company), whether domestic or foreign, in an
unbroken chain of entities beginning with the Company if each of the entities other than the last entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests representing more than fifty percent (50%) of
the total combined voting power of all classes of securities or interests in one of the other entities in such chain. 

  

	2.26	 “Termination of Service” means 

 

	 	(d)	 As to a Consultant, the time when the engagement of a Participant as a Consultant to a Service Recipient is
terminated for any reason, with or without Cause, including, without limitation, by resignation, discharge, death or retirement, but excluding terminations where the Consultant simultaneously commences or remains in employment or service with the
Company or any Subsidiary. 

  

	 	(e)	 As to a Non-Employee Director, the time when a Participant who is a Non-Employee Director ceases to be a Director for any reason, including, without limitation, a termination by resignation, failure to be elected, death or retirement, but excluding terminations where the Participant
simultaneously commences or remains in employment or service with the Company or any Subsidiary. 

	 	(f)	 As to an Employee, the time when the employee-employer relationship between a Participant and the Service
Recipient is terminated for any reason, including, without limitation, a termination by resignation, discharge, death, Disability or retirement; but excluding terminations where the Participant simultaneously commences or remains in employment or
service with the Company or any Subsidiary. 

 The Committee, in its sole discretion, shall determine the effect of all
matters and questions relating to Terminations of Service, including, without limitation, the question of whether a Termination of Service resulted from a discharge for Cause and all questions of whether particular leaves of absence constitute a
Termination of Service. For purposes of the Plan, a Participant’s employee-employer relationship or consultancy relations shall be deemed to be terminated in the event that the Subsidiary employing or contracting with such Participant ceases to
remain a Subsidiary following any merger, sale of securities or other corporate transaction or event (including, without limitation, a spin-off). 

 

	2.2	 “Trading Date” means the closing of the first sale to the general public of the Shares
pursuant to an effective registration statement under Applicable Laws, which results in the Shares being publicly traded on one or more established stock exchanges or national market systems. 

 

	3.	 ADMINISTRATION 

 

	3.1	 Administration of the Plan. The Plan shall be administered by the Board having regard to any
recommendations made to the Board or if the Board has delegated the authority to a committee of one or more members of the Board (the “Committee”) in accordance with the terms of such delegation (provided that in such case
the Committee shall not grant or amend Options to any Committee members). If no Committee has been appointed, the entire Board shall administer the Plan. Any reference to the Board in the Plan shall be construed as a reference to the Committee (if
any) to whom the Board has assigned a particular function. Notwithstanding the foregoing, (a) the full Board, acting by a majority of its members in office, shall conduct the general administration of the Plan with respect to Options granted to
Independent Directors and (b) the Board or Committee may delegate its authority hereunder to the extent permitted by Section 3.6. 

  

	3.2	 Duties and Powers of Committee. It shall be the duty of the Committee to conduct the general
administration of the Plan in accordance with its provisions. The Committee shall have the power to interpret the Plan and the Award Agreement, and to adopt such rules for the administration, interpretation and application of the Plan as are not
inconsistent therewith, to interpret, amend or revoke any such rules and to amend any Award Agreement provided that the rights or obligations of the Participant that is the subject of any such Award Agreement are not affected adversely by such
amendment, unless the consent of the Participant is obtained or such amendment is otherwise permitted under Section 8.17. Any such grant or award under the Plan need not be the same with respect to each Participant. In its sole discretion, the
Board may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan except with respect to matters which under Applicable Laws are required to be determined in the sole discretion of the Committee.

  

	3.3	 Action by the Committee. Unless otherwise established by the Board or in any charter of the Committee, a
majority of the Committee shall constitute a quorum and the acts of a majority of the members present at any meeting at which a quorum is present, and acts approved in writing by all members of the Committee in lieu of a meeting, shall be deemed the
acts of the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of a Service Recipient, the Company’s independent
certified public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. 

	3.4	 Authority of Committee. Subject to Applicable Laws and any specific designation in the Plan and each
Award Agreement, and except as otherwise provided by the Board, the Committee has the authority, in its discretion to: 

  

	 	(a)	 designate eligible Participants; 

 

	 	(b)	 determine the number of Options to be granted and the number of Shares to which an Option will relate;

  

	 	(c)	 determine the terms and conditions of any Option granted pursuant to the Plan, including, but not limited to,
the Exercise Price, manner of exercise, any restrictions or limitations on the Options, any schedule for vesting, lapse or cancellation of the Options, or restrictions on the exercisability of an Option, and accelerations or waivers thereof, based
in each case on such considerations as the Committee in its sole discretion determines; 

  

	 	(d)	 prescribe and approve the form of each Award Agreement, which need not be identical for each Participant;

  

	 	(e)	 decide all other matters that must be determined in connection with an Option; 

 

	 	(f)	 establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the
Plan; 

  

	 	(g)	 interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement;

  

	 	(h)	 make all other decisions and determinations that may be required pursuant to the Plan or as the Committee deems
necessary or advisable to administer the Plan. 

  

	3.5	 Decisions Binding. The Committee’s interpretation of the Plan, any Option granted pursuant to the
Plan, any Award Agreement and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties. 

  

	3.6	 Delegation of Authority. To the extent permitted by Applicable Laws, the Board or Committee may from
time to time delegate to a committee of one or more members of the Board or one or more officers of the Company the authority to grant or amend Options or to take other administrative actions pursuant to Article 3; provided, however, that in
no event shall an officer be delegated the authority to grant Options to, or amend Options held by officers of the Company (or Directors) to whom authority to grant or amend Options has been delegated hereunder. Any delegation hereunder shall be
subject to the restrictions and limits that the Board or Committee specifies at the time of such delegation, and the Board may at any time rescind the authority so delegated or appoint a new delegatee. At all times, the delegatee appointed under
this Section 3.6 shall serve in such capacity at the pleasure of the Board and the Committee. 

  

	4.	 SHARES SUBJECT TO THE PLAN 

 

	4.1	 Number of Shares. 

 

	 	(a)	 Subject to the provisions of Article 7 and Section 4.1(b), the maximum aggregate number of Shares which
may be issued pursuant to all Options is 40,544,715. 

  

	 	(b)	 To the extent that an Option terminates, expires, or lapses for any reason, any Shares underlying such Option
shall be added back to the Shares available issuance under the Plan. Shares delivered to the Participant or withheld by the Company upon the exercise of any Option under the Plan, in payment of the Exercise Price thereof or tax withholding thereon,
may again be optioned, granted or awarded hereunder, subject to the limitations of Section 4.1(a). If any Shares forfeited by the Participant or repurchased by the Company are again returned to the Company, these Shares may again be optioned,
granted or awarded hereunder, subject to the limitations of Section 4.1(a). To the extent permitted by Applicable Laws, Shares issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form or
combination by the Company, any Parent or any Subsidiary shall not be counted against Shares available for grant pursuant to the Plan. 

	4.2	 Shares Distributed. Any Shares distributed pursuant to an Option may consist, in whole or in part, of
authorized and unissued Shares, treasury shares (subject to Applicable Laws) or Shares purchased on the open market. Additionally, in the discretion of the Committee, American Depository Shares in an amount equal to the number of Shares which
otherwise would be distributed pursuant to an Option may be distributed in lieu of Shares in settlement of any Option. If the number of Shares represented by an American Depository Share is other than on a one-to-one basis, the limitations of Section 4.1 shall be adjusted to reflect the distribution of American Depository Shares in lieu of Shares. 

 

	5.	 ELIGIBILITY 

 

	5.1	 Eligibility. Persons eligible to participate in this Plan include Directors, Employees and Consultants,
as determined by the Committee. 

  

	5.2	 Participation. Subject to the provisions of the Plan, the Committee may, from time to time, select from
among all eligible individuals, those to whom Options shall be granted and shall determine the nature and amount of Options. 

  

	6.	 OPTIONS 

 

	6.1	 General. The Committee is authorized to grant Options to Participants on the following terms and
conditions: 

  

	 	(a)	 Grant of Options. Subject to the terms and provisions of the Plan, Options may be granted to Directors,
Employees or Consultants at any time and from time to time as determined by the Committee. The Committee, in its sole discretion, shall determine the number of Shares subject to each Option. 

 

	 	(b)	 Exercise Price. The Exercise Price per Share subject to an Option shall be determined by the Committee
and set forth in the Award Agreement which may be a fixed or variable price related to the Fair Market Value of the Shares, provided, however, that no Option may be granted to an individual subject to taxation in the United States at less
than the Fair Market Value on the Date of Grant, without compliance with Section 409A of the Code, or the Participant’s consent. The Exercise Price per Share subject to an Option may be amended or adjusted in the absolute discretion of the
Committee, the determination of which shall be final, binding and conclusive. For the avoidance of doubt, to the extent not prohibited by Applicable Laws (including any applicable exchange rule), a downward adjustment of the Exercise Prices
mentioned in the preceding sentence shall be effective without the approval of the Company’s shareholders or the consent of the affected Participants. 

  

	 	(c)	 Vesting. The period during which the right to exercise, in whole or in part, an Option vests in the
Participant shall be set by the Committee and the Committee may determine that an Option may not be exercised in whole or in part for a specified period after it is granted. Such vesting may be based on service with the Service Recipient or any
other criteria selected by the Committee. At any time after grant of an Option, the Committee may, in its sole discretion and subject to whatever terms and conditions it selects, accelerate the period during which an Option vests.

  

	 	(d)	 Time and Conditions of Exercise. The Committee shall determine the time or times at which an Option may
be exercised in whole or in part, including exercise prior to vesting and that a partial exercise must be with respect to a minimum number of shares. The Committee shall also determine any conditions, if any, that must be satisfied before all or
part of an Option may be exercised. 

  

	 	(e)	 Term. The term of any Option granted under the Plan shall not exceed ten years from the Date of Grant.
Except as limited by the requirements of Section 409A of the Code and regulations and rulings thereunder, the Committee may extend the term of any outstanding Option, and may extend the time period during which vested Options may be exercised,
in connection with any Termination of Service of the Participant, and may amend any other term or condition of such Option relating to such a Termination of Service. 

	 	(f)	 Manner of Exercise. All or a portion of an exercisable Option shall be deemed exercised upon delivery of
all of the following to the Committee, or such other person or entity designated by the Committee, or his, her or its office, as applicable: 

  

	 	(i)	 A written or electronic notice complying with the applicable rules established by the Committee stating that
the Option, or a portion thereof, is exercised. The notice shall be signed by the Participant or other person then entitled to exercise the Option or such portion of the Option; 

 

	 	(ii)	 Such representations and documents as the Committee, in its sole discretion, deems necessary or advisable to
effect compliance with all Applicable Laws. The Committee may, in its sole discretion, also take whatever additional actions it deems appropriate to effect such compliance including, without limitation, placing legends on share certificates and
issuing stop-transfer notices to agents and registrars; 

  

	 	(iii)	 In the event that the Option shall be exercised pursuant to Section 6.4 by any person or persons other
than the Participant, appropriate proof of the right of such person or persons to exercise the Option, as determined in the sole discretion of the Committee; and 

 

	 	(iv)	 Full payment of the Exercise Price and applicable withholding taxes to share administrator of the Company for
the Shares with respect to which the Option, or portion thereof, is exercised, in a manner permitted by Section 6.1(g) and Section 8.9. 

  

	 	(g)	 Payment. The Committee shall determine the methods by which the Exercise Price may be paid, the form of
payment, including, without limitation (i) cash or check denominated in U.S. dollars, (ii) to the extent permissible under the Applicable Laws, cash or check in Chinese Renminbi, (iii) cash or check denominated in any other local
currency as approved by the Committee, (iv) Shares held for such period of time as may be required by the Committee in order to avoid adverse financial accounting consequences and having a Fair Market Value on the date of delivery equal to the
aggregate Exercise Price of the Option or exercised portion thereof, (v) following the Trading Date, the delivery of a notice that the Participant has placed a market sell order with a broker with respect to Shares then issuable upon exercise
of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the aggregate payments required; provided, that payment of such proceeds is then made to the
Company upon settlement of such sale, (vi) other property acceptable to the Committee with a Fair Market Value equal to the Exercise Price, or (vii) any combination of the foregoing. The Committee shall also determine the methods by which
Shares shall be delivered or deemed to be delivered to Participants. Notwithstanding any other provision of the Plan to the contrary, no Participant shall be permitted to make payment with respect to any Option granted under the Plan to the extent
prohibited by Applicable Laws. 

  

	 	(h)	 Evidence of Grant. All Options shall be evidenced by an Award Agreement between the Company and the
Participant. The Award Agreement shall include such additional provisions as may be specified by the Committee. 

  

	6.2	 Effects of Termination of Service. Termination of Service shall have the following effects on Options
granted to the Participants: 

  

	 	(a)	 Termination of Service for Cause. Unless otherwise provided in the Award Agreement, if a
Participant’s employment by or service to the Service Recipient is terminated by the Service Recipient for Cause, the Participant’s Options will terminate upon such termination, whether or not the Option is then vested and/or exercisable;

  

	 	(b)	 Terminations of Service Due to Death or Disability. Unless otherwise provided in the Award Agreement, if
a Participant’s employment by or service to the Service Recipient terminates as a result of the Participant’s death or Disability: 

  

	 	(i)	 the Participant (or his or her legal representative or beneficiary, in the case of the Participant’s
Disability or death, respectively), will have until the date that is six (6) months after the Participant’s Termination of Service to exercise the Participant’s Options (or portion thereof) to the extent that such Options were vested
and exercisable on the date of the Participant’s Termination of Service on account of death or Disability; 

	 	(ii)	 the Options, to the extent not vested and exercisable on the date of the Participant’s Termination of
Service, shall terminate upon the Participant’s Termination of Service on account of death or Disability; and 

  

	 	(iii)	 the Options, to the extent exercisable for the six -month period following the Participant’s Termination
of Service and not exercised during such period, shall terminate at the close of business on the last day of the six -month period. 

  

	 	(c)	 Terminations of Service for Other Reasons. Unless otherwise provided in the Award Agreement, if a
Participant’s employment by or service to the Service Recipient terminates for any reason other than a termination by the Service Recipient for Cause or because of the Participant’s death or Disability: 

 

	 	(i)	 the Participant will have until the date that is 90 days after the Participant’s Termination of Service to
exercise his or her Options (or portion thereof) to the extent that such Options were vested and exercisable on the date of the Participant’s Termination of Service, but in no event after the expiration date of the Options as indicated in the
applicable Award Agreement; 

  

	 	(ii)	 the Options, to the extent not vested and exercisable on the date of the Participant’s Termination of
Service, shall terminate upon the Participant’s Termination of Service; and 

  

	 	(iii)	 the Options, to the extent exercisable for the 90-day period following
the Participant’s Termination of Service and not exercised during such period, shall terminate at the close of business on the last day of the 90-day period. 

 

	6.3	 Award Agreement. Options under the Plan shall be evidenced by Award Agreements that set forth the terms,
conditions and limitations for each Option which may include the term of an Option, the provisions applicable in the event the Participant’s employment or service terminates, and the Company’s authority to unilaterally or bilaterally
amend, modify, suspend, cancel or rescind an Option. 

  

	6.4	 Transferability of Options. 

 

	 	(a)	 Limits on Transfer. Except as otherwise provided in Section 6.4(b): 

 

	 	(i)	 No Option under the Plan may be sold, pledged, assigned or transferred in any manner other than by will or the
laws of descent and distribution or, subject to the consent of the Committee, as required under applicable domestic relations laws, unless and until such Option has been exercised, or the Shares underlying such Options have been issued, and all
restrictions applicable to such Shares have lapsed; 

  

	 	(ii)	 No Option or interest or right therein shall be liable for the debts, contracts or engagements of the
Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, hypothecation, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by
operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition
is permitted by the preceding sentence; and 

  

	 	(iii)	 During the lifetime of the Participant, only the Participant may exercise an Option (or any portion thereof)
granted to him or her under the Plan, unless it has been disposed of pursuant to applicable domestic relations law; after the death of the Participant, any exercisable portion of an Option may, prior to the time when such portion becomes
unexercisable under the Plan or the applicable Award Agreement, be exercised by his or her personal representative or by any person empowered to do so under the deceased Participant’s will or under the then Applicable Laws of descent and
distribution. 

	 	(b)	 Notwithstanding Section 6.4(a), the Committee, in its sole discretion, may determine to permit a
Participant to transfer an Option to certain persons or entities related to the Participant, including but not limited to members of the Participant’s family, charitable institutions, or trusts or other entities whose beneficiaries or
beneficial owners are members of the Participant’s family and/or charitable institutions, or to such other persons or entities as may be expressly approved by the Committee, pursuant to such conditions and procedures as the Committee may
establish, including the following conditions: 

  

	 	(i)	 an Option transferred shall not be assignable or transferable other than by will or the laws of descent and
distribution; 

  

	 	(ii)	 an Option transferred shall continue to be subject to all the terms and conditions of the Option as applicable
to the original Participant (other than the ability to further transfer the Option); and 

  

	 	(iii)	 the Participant and the permitted transferee shall execute any and all documents requested by the Committee,
including, without limitation documents to (A) confirm the status of the transferee as a permitted transferee, (B) satisfy any requirements for an exemption for the transfer under Applicable Laws and (C) evidence the transfer.

  

	 	(c)	 Notwithstanding Section 6.4(a), a Participant may, in the manner determined by the Committee, designate a
beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Option upon the Participant’s death. A beneficiary, legal guardian, legal representative, or other person claiming any rights pursuant to
the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant, except to the extent the Plan and Award Agreement otherwise provide, and to any additional restrictions deemed necessary or
appropriate by the Committee. If the Participant is married and resides in a community property state, a designation of a person other than the Participant’s spouse as his or her beneficiary with respect to more than 50% of the
Participant’s interest in the Option shall not be effective without the prior written consent of the Participant’s spouse. If no beneficiary has been designated or survives the Participant, payment shall be made to the person entitled
thereto pursuant to the Participant’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided the change or revocation is filed with the
Committee prior to the Participant’s death. 

  

	6.5	 Performance Objectives and Other Terms. The Committee, in its discretion, may set performance objectives
or other vesting criteria which, depending on the extent to which they are met, will determine the number or value of the Options that will be granted or paid out to the Participants. 

 

	6.6	 Conditions to Issuance of Shares. 

 

	 	(a)	 Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any
certificates or make any book entries evidencing Shares pursuant to the exercise of any Option, unless and until the Committee has determined, with advice of counsel, that the issuance of such Shares is in compliance with all Applicable Laws and the
Shares are covered by an effective registration statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Committee may require that a Participant make such reasonable covenants, agreements,
and representations as the Committee, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. 

	 	(b)	 All Share certificates delivered pursuant to the Plan and all Shares issued pursuant to book entry procedures
are subject to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with all Applicable Laws. The Committee may place legends on any Shares certificate or book entry to reference restrictions
applicable to the Shares. 

  

	 	(c)	 The Committee shall have the right to require any Participant to comply with any timing or other restrictions
with respect to the settlement, distribution or exercise of any Option, including a window-period limitation, as may be imposed in the sole discretion of the Committee. 

 

	 	(d)	 No fractional Shares shall be issued and the Committee shall determine, in its sole discretion, whether cash
shall be given in lieu of fractional shares or whether such fractional shares shall be eliminated by rounding down. 

  

	 	(e)	 Notwithstanding any other provision of the Plan, unless otherwise determined by the Committee or required by
any Applicable Laws, the Company shall not deliver to any Participant certificates evidencing Shares issued in connection with any Option and instead such Shares shall be recorded in the books of the Company (or, as applicable, the Committee or the
transfer agent of the Company). 

  

	6.7	 Applicable Currency. Unless otherwise required by Applicable Laws, or as determined in the discretion of
the Committee, all Options shall be designated in U.S. dollars. A Participant may be required to provide evidence that any currency used to pay the Exercise Price were acquired and taken out of the jurisdiction in which the Participant resides in
accordance with Applicable Laws, including foreign exchange control laws and regulations. In the event the Exercise Price is paid in another foreign currency, as permitted by the Committee, the amount payable will be determined by conversion from
U.S. dollars at the exchange rate as selected by the Committee on the date of exercise. 

  

	6.8	 Right of Redemption. 

 

	 	(a)	 In the event of Termination of Service described in Section 6.2(b) hereof, the Participant may transfer
all or any portion of the Shares acquired by the Participant upon exercise of any portion of the Options or have the Company or other person or entity designated by the Committee to redeem all or any portion of such Shares. 

 

	 	(b)	 In the event of Termination of Service described in Section 6.2(c) hereof, the Participant may transfer
all or any portion of the Shares acquired by the Participant upon exercise of any portion of the Options. If the Participant cannot transfer the Shares by two weeks before the Termination of Service, the Participant could request the Company or
other person or entity designated by the Committee to redeem all or any portion of such Shares. 

  

	 	(c)	 The proportion and the price of redemption of the Shares shall be negotiated between the Participant or his/her
legal guardian or heir and the Company or the Committee. In the event that consensus cannot be reached, the Committee shall have the right to redeem, at the Exercise Price, 100% of the Shares held by such Participant. The Participant expressly
acknowledges that redemption is a right rather than obligation of the Company or other person or entity designated by the Committee. 

  

	 	(d)	 The Participant shall cooperate unconditionally with the Company (or its assignee) to complete all formalities
to redeem the Shares, and sign, or cause to be signed, all relevant legal documents. Otherwise, the Participant shall indemnify the Company (or its assignee) on the basis of the Fair Market Value of such Shares. In the event that such
indemnification is not adequate to compensate losses incurred by the Company (or its assignee), the Company (or its assignee) shall have the right to seek recovery. 

 

	6.9	 Lapse of Options. 

 

	 	(a)	 Notwithstanding any other provisions herein, all Options that are granted to a Participant and have become
vested and exercisable shall immediately lapse or be cancelled in case of violation of Section 6.4(a)(i) hereof. 

	 	(b)	 If, as a result of any change in the Participant’s position and responsibilities, he/she makes less
contribution to the Service Recipient, the Committee shall have the right to cancel such Participant’s Options that have become vested and exercisable in the most recent year. 

 

	 	(c)	 If the Service Recipient determines that the Participant is directly responsible for the Service
Recipient’s loss, decline in business performance, or lagging behind rivals in respect of technological competence, the Committee shall have the right to cancel such Participant’s Options that have become vested and exercisable in the most
recent tranche. 

  

	7.	 CHANGES IN CAPITAL STRUCTURE 

 

	7.1	 Adjustments. In the event of any distribution, share split, combination or exchange of Shares,
amalgamation, arrangement or consolidation, reorganization of the Company, including the Company becoming a subsidiary in a transaction not involving a Corporate Transaction, spin-off, recapitalization or
other distribution (other than normal cash dividends) of Company assets to its shareholders, or any other change affecting the Shares or the share price of a Share, the Committee shall make such proportionate and equitable adjustments, if any, to
reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 4.1 and substitutions of shares in a parent or
surviving company); (b) the terms and conditions of any outstanding Options (including, without limitation, any applicable performance targets or criteria with respect thereto); and (c) the grant or Exercise Price per share for any outstanding
Options under the Plan. The form and manner of any such adjustments shall be determined by the Committee in its sole discretion. 

  

	7.2	 Corporate Transactions. Except as may otherwise be provided in any Award Agreement or any other written
agreement entered into by and between the Company and a Participant, if the Committee anticipates the occurrence, or upon the occurrence, of a Corporate Transaction, the Committee may, in its sole discretion, provide for one or more of the
following: (i) any and all Options outstanding hereunder to terminate at a specific time in the future and shall give each Participant the right to exercise the vested portion of such Options during a period of time as the Committee shall
determine, or (ii) the purchase of any Option in exchange for an amount of cash equal to the amount that could have been attained upon the exercise of such Option (and, for the avoidance of doubt, if as of such date the Committee determines in
good faith that no amount would have been attained upon the exercise of such Option, then such Option may be terminated by the Company without payment), or (iii) the replacement of such Option with other rights or property selected by the
Committee in its sole discretion or the assumption of or substitution of such Option by the successor or surviving corporation, or a Parent or Subsidiary thereof, with appropriate adjustments as to the number and kind of Shares and prices, or
(iv) payment of such Option in cash based on the value of Shares on the date of the Corporate Transaction plus reasonable interest on the Option through the date as determined by the Committee when such Option would otherwise be vested or have
been paid in accordance with its original terms, if necessary to comply with Section 409A of the Code. 

  

	7.3	 Outstanding Options - Other Changes. In the event of any other change in the capitalization of the
Company or corporate change other than those specifically referred to in this Article 7, subject to Applicable Laws and the terms of the Plan, the Committee may, in its sole discretion, make such adjustments in the number and class of shares subject
to Options outstanding on the date on which such change occurs and in the per share grant or Exercise Price of each Option as the Committee may consider appropriate to prevent dilution or enlargement of rights. 

 

	7.4	 No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by
reason of any subdivision or consolidation of Shares of any class, the payment of any dividend, any increase or decrease in the number of shares of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other
corporation. Except as expressly provided in the Plan or pursuant to action of the Committee under the Plan, and no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment
by reason thereof shall be made with respect to, the number of Shares subject to an Option or the grant or Exercise Price of any Option. 

	8.	 GENERAL PROVISIONS 

 

	8.1	 Effective Date. The Plan shall become effective as of the date on which the Board adopts the Plan or as
otherwise specified by the Board when adopting the Plan (the “Effective Date”). 

  

	8.2	 Expiration Date. This Plan shall come into effect from the Effective Date, and shall remain in full
force and effect thereafter for indefinite period in all aspects, provided, however, that the Committee, in its sole discretion, may suspend or terminate the Plan at any earlier date pursuant to Section 8.3 hereof. Notwithstanding the
foregoing, the administration of this Plan shall survive such termination, until all payment and exercise in connection with the Options granted prior to such termination have been completed. 

 

	8.3	 Amendment, Modification, and Termination. Except as otherwise provided in this Section 8.3, at any
time and from time to time, the Committee may terminate, amend or modify the Plan; provided, however, that no such action shall without the consent of the Participant, materially and adversely affect any rights under any outstanding Option
theretofore granted or awarded. To the extent required under the Applicable Laws, any Plan amendment shall be subject to approval by Company’s shareholders entitled to vote at a meeting of shareholders. 

 

	8.4	 No Rights to Options. No Participant or other person shall have any claim to be granted any Option
pursuant to the Plan, and neither the Company nor the Committee is obligated to treat Participants or any other persons uniformly. 

  

	8.5	 No Shareholders Rights. Except as otherwise provided herein, a Participant shall have none of the rights
of a shareholder with respect to Shares covered by any Option until the Participant becomes the record owner of such Shares. 

  

	8.6	 No Right to Employment or Services. Nothing in the Plan or any Award Agreement shall interfere with or
limit in any way the right of the Service Recipient to terminate any Participant’s employment or services at any time, nor confer upon any Participant any right to continue in the employment or services of any Service Recipient.

  

	8.7	 Paperless Administration. In the event that the Company establishes, for itself or using the services of
a third party, an automated system for the documentation, granting or exercise of Options, such as a system using an internet website or interactive voice response, then the paperless documentation, granting or exercise of Options by a Participant
may be permitted through the use of such an automated system. 

  

	8.8	 Effect of Plan upon Other Compensation Plans. The adoption of the Plan shall not affect any other
compensation or incentive plans in effect for a Service Recipient. Nothing in the Plan shall be construed to limit the right of a Service Recipient: (a) to establish any other forms of incentives or compensation for the Directors, Employees and
Consultants, or (b) to grant or assume options or other rights or awards otherwise than under the Plan in connection with any proper corporate purpose including without limitation, the grant or assumption of options in connection with the
acquisition by purchase, lease, merger, consolidation or otherwise, of the business, securities or assets of any corporation, partnership, limited liability company, firm or association. 

 

	8.9	 Tax Withholding. No Shares shall be delivered under the Plan to any Participant until such Participant
has made arrangements acceptable to the Committee for the satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any Subsidiary shall have the authority and the right to deduct or withhold, or
require a Participant to remit to the Company, an amount sufficient to satisfy all applicable taxes (including the Participant’s payroll tax obligations) required or permitted by Applicable Laws to be withheld with respect to any taxable event
concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold Shares otherwise issuable under an Option (or
allow the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of Shares which may be withheld with respect to the issuance, vesting, exercise or payment
of any Option (or which may be repurchased from the Participant of such Options after such Shares were acquired by the Participant from the Company) in order to satisfy any income and payroll tax liabilities applicable to the Participant with
respect to the issuance, vesting, exercise or payment of the Option shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market Value on the date of withholding or repurchase equal to the
aggregate amount of such liabilities based on the minimum statutory withholding rates for the applicable income and payroll tax purposes that are applicable to such supplemental taxable income. 

	8.10	 Unfunded Status of the Plan. The Plan is intended to be an “unfunded” plan for incentive
compensation. With respect to any payments not yet made to a Participant pursuant to an Option, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the
Company or any Subsidiary. 

  

	8.11	 Indemnification. To the extent allowable pursuant to Applicable Laws, each member of the Committee or of
the Board shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any claim, action, suit, or proceeding to
which he or she may be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in such action, suit, or
proceeding against him or her; provided, that he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of
indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant to the Company’s Memorandum of Association and Articles of Association, as a matter of law, or otherwise, or any power
that the Company may have to indemnify them or hold them harmless. 

  

	8.12	 Relationship to other Benefits. No payment pursuant to the Plan shall be taken into account in
determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of any Service Recipient except to the extent otherwise expressly provided in writing in such other plan or an agreement
thereunder. 

  

	8.13	 Expenses. The expenses of administering the Plan shall be borne by the Service Recipients.

  

	8.14	 Titles and Headings; References to Sections of the Code or Exchange Act. The titles and headings of the
Sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. References to sections of the Code or the Exchange Act shall include any
amendment or successor thereto. 

  

	8.15	 Compliance with Laws. The Plan, the grant and vesting of Options under the Plan and the issuance and
delivery of Shares and the payment of money under the Plan or under Options granted or awarded hereunder are subject to compliance with all Applicable Laws (including but not limited to securities law and margin requirements), and to such approvals
by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. Any securities delivered under the Plan shall be subject to such restrictions, and the person
acquiring such securities shall, if requested by the Company, provide such assurances and representations to the Company as the Company may deem necessary or desirable to assure compliance with all applicable legal requirements. To the extent
permitted by Applicable Laws, the Plan and Options granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such Applicable Laws. 

 

	8.16	 Governing Law. The Plan and any agreements hereunder shall be administered, interpreted and enforced
under the internal laws of the Cayman Islands without regard to conflicts of laws thereof. 

  

	8.17	 Section 409A. To the extent that the Committee determines that any Option granted
under the Plan is subject to Section 409A of the Code, the Award Agreement evidencing such Option shall incorporate the terms and conditions required by Section 409A of the Code. To the extent applicable, the Plan and Award Agreements
shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued
after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the Committee determines that any Option may be subject to Section 409A of the Code and related Department of
Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Committee may adopt such amendments to the Plan and the applicable Award Agreement or adopt other policies and procedures

	 	
(including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to (a) exempt the Option from
Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Option, or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance and
thereby avoid the application of any penalty taxes under such Section. 

 - End -

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