Document:

Exhibit
10.1

 

EXECUTION VERSION

 

COOPERATION
AND SETTLEMENT AGREEMENT

 

This
Cooperation and Settlement Agreement (this “Agreement”), dated as of April 8, 2021, is by and among Thomas
Wetherald (“Wetherald”), Tobias Welo (“Welo”), Mary Pat Thompson (“Thompson”),
Andrew McCormick (“McCormick”) and Sergey Vasnetsov (“Vasnetsov”, and together with Wetherald,
Welo, Thompson and McCormick, the “Consent Participants”), on the one hand, and Taronis Fuels, Inc., a Delaware
corporation (the “Company”), Robert Dingess (“Dingess”), Kevin Pollack (“Pollack”),
William Staunton (“Staunton”) and Peter Molloy (“Molloy”, and together with Dingess, Pollack
and Staunton, the “Original Directors”), on the other hand. Each of the Consent Participants, Original Directors
and the Company are referred to herein as a “Party” and collectively, as the “Parties.”

 

RECITALS

 

WHEREAS,
the Consent Participants filed with the Securities and Exchange Commission (the “SEC”) on March 5, 2021 a definitive
Consent Solicitation Statement on Schedule 14A relating to certain stockholder proposals as set forth therein (as amended or supplemented,
the “Consent Statement”);

 

WHEREAS,
on April 5, 2021, Wetherald and Welo delivered written consents (the “Consents”) to the Company, which they
believe constitute written consents from the holders of a majority of the shares of the Company’s common stock outstanding
as of February 12, 2021, approving each of the proposals set forth in the Consent Statement, including the removal, without cause,
of each of the Original Directors and the election to the board of directors of the Company (the “Board”) of
each of the Consent Participants;

 

WHEREAS,
Wetherald and Welo have filed lawsuits in the Delaware Court of Chancery seeking, among other relief, clarification from the Court
of the appropriate record date for the consent solicitation and of the composition of the Board; and

 

WHEREAS,
the Company and Original Directors, on the one hand, and the Consent Participants, on the other hand, have determined to come
to an agreement with respect to (a) the composition of the Board, (b) resolution of the lawsuits between the Parties, and (c)
certain other matters in order to provide mutually for an orderly transition and implementation of the terms of this Agreement.

 

    	 

    	 

    

 

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual covenants and agreements contained herein, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally
bound hereby, agree as follows:

 

1.
Board of Directors. Immediately prior to the execution and delivery of this Agreement, (A) Dingess, Pollack and Staunton
have tendered their resignations from the Board, with such resignations conditioned upon and to become effective by their terms
upon the execution and delivery of this Agreement by all Parties, (B) all the members of both the Consent Participant Board and
the Original Director Board have executed and delivered to the Company a written consent in the form attached hereto as Exhibit
A, which, among other things, (i) increases the size of the Board from five (5) to six (6) directors in accordance with Section
V.A. of the Amended and Restated Certificate of Incorporation of the Company, (ii) accepts the resignations of Dingess, Pollack
and Staunton, effective upon the execution and delivery of this Agreement by all Parties, and (C) appoints each of Wetherald,
Welo, Thompson, McCormick, Vasnetsov and Molloy to the Board, effective immediately after the execution and delivery of this Agreement
by all Parties. For the avoidance of doubt, the foregoing matters (including the execution of the consent by all members of both
the Consent Participant Board and the Original Director Board) are being undertaken in view of the disagreement as to the current
composition of the Board so that, effective immediately after the execution and delivery of this Agreement, the Board will be
comprised of Wetherald, Welo, Thompson, McCormick, Vasnetsov and Molloy, and none of the foregoing matters shall constitute a
concession by the Original Directors that the delivery of the Consents was effective to remove them as directors or a concession
on the part of any of the Consent Participants that the delivery of the Consents was not effective to remove the Original Directors
and elect the Consent Participants to the Board.

 

2.
Release of Claims; Agreement of Individuals Not to Sue.

 

(a)
Notwithstanding anything to the contrary set forth in this Agreement, effective as of the date hereof, in consideration of the
mutual agreements contained herein, and conditioned upon and subject to the prior occurrence of each of the matters specified
in Section 1, the Consent Participants, on behalf of themselves individually and each of their past, present and future
Affiliates and Associates (excluding, for the avoidance of doubt, the Company), trusts, representatives, spouses, immediate family
members, estate planning vehicles, heirs, executors, administrators, trustees, agents, attorneys, insurers, domestic partners,
successors and assigns (each, a “Consent Participant Releasing Party” and, collectively, the “Consent
Participant Releasing Parties”), hereby absolutely, unconditionally and irrevocably release, acquit and forever discharge
each of the Original Directors, and each of their respective present and future Affiliates, Associates, trusts, representatives,
spouses, family members, estate planning vehicles, heirs, executors, administrators, agents, attorneys, insurers, domestic partners,
successors and assigns (each, an “Original Director Released Party” and, collectively, the “Original
Director Released Parties”) of and from any and all manner of action or inaction, cause or causes of action, litigation,
arbitration or other proceeding, liabilities or damages (whether for compensatory, special, incidental or punitive damages, equitable
relief or otherwise) of any kind or nature whatsoever, past, present or future, at law, in equity or otherwise, derivative or
otherwise, whether known or unknown, whether fixed or contingent, whether concealed or hidden, whether disclosed or undisclosed,
whether liquidated or unliquidated, whether foreseeable or unforeseeable, whether anticipated or unanticipated, whether suspected
or unsuspected, which such Consent Participant Releasing Parties, or any of them, ever have had or ever in the future may have,
directly or derivatively, against the Original Director Released Parties, or any of them, and which are based on acts, events
or omissions relating to the Company occurring at any time up to and including the date hereof (the “Consent Participant
Released Claims”); provided, however, that (i) the foregoing release shall not release, impair, or diminish
any rights of the Company or of any other stockholders of the Company, (ii) the foregoing release shall not release, impair, or
diminish, and the term “Consent Participant Released Claims” shall not include, in any respect any rights of any Consent
Participant Releasing Party under this Agreement, and (iii) the foregoing release is given by the Consent Participant Releasing
Parties solely in their individual capacities (including their capacities as stockholders) and not in their capacities as directors
and shall not in any way affect, impair, limit, or preclude any Consent Participant Releasing Party in his or her capacity as
a director of the Company from acting in accordance with his or her fiduciary duties or otherwise in accordance with applicable
law, including in relation to any claims, causes of action, litigation, actions, suits, arbitrations, or other proceedings by
or on behalf of the Company. The Consent Participant Releasing Parties acknowledge that the foregoing waiver of any unknown claims
and its inclusion in the definition of Consent Participant Released Claims were separately bargained for and is a material element
of this Agreement.

 

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(b)
Notwithstanding anything to the contrary set forth in this Agreement, effective as of the date hereof, in consideration of the
mutual agreements contained herein, and conditioned upon and subject to the prior occurrence of each of the matters specified
in Section 1, the Original Directors, on behalf of themselves individually and each of their past, present and future Affiliates
and Associates (excluding, for the avoidance of doubt, the Company), trusts, representatives, spouses, immediate family members,
estate planning vehicles, heirs, executors, administrators, trustees, agents, attorneys, insurers, domestic partners, successors
and assigns (each, an “Original Director Releasing Party” and, collectively, the “Original Director
Releasing Parties”), hereby absolutely, unconditionally and irrevocably release, acquit and forever discharge each of
the Consent Participants, and each of their respective present and future Affiliates, Associates, trusts, representatives, spouses,
family members, estate planning vehicles, heirs, executors, administrators, agents, attorneys, insurers, domestic partners, successors
and assigns (each, an “Consent Participant Released Party” and, collectively, the “Consent Participant
Released Parties”) of and from any and all manner of action or inaction, cause or causes of action, litigation, arbitration
or other proceeding, liabilities or damages (whether for compensatory, special, incidental or punitive damages, equitable relief
or otherwise) of any kind or nature whatsoever, past, present or future, at law, in equity or otherwise, derivative or otherwise,
whether known or unknown, whether fixed or contingent, whether concealed or hidden, whether disclosed or undisclosed, whether
liquidated or unliquidated, whether foreseeable or unforeseeable, whether anticipated or unanticipated, whether suspected or unsuspected,
which such Original Director Releasing Parties, or any of them, ever have had or ever in the future may have, directly or derivatively,
against the Consent Participant Released Parties, or any of them, and which are based on acts, events or omissions relating to
the Company occurring at any time up to and including the date hereof (the “Original Director Released Claims”);
provided, however, that (i) the foregoing release shall not release, impair, or diminish any rights of the Company
or of any other stockholders of the Company, (ii) the foregoing release shall not release, impair, or diminish, and the term “Original
Director Released Claims” shall not include, in any respect any rights of any Original Director Releasing Party under this
Agreement, and (iii) the foregoing release is given by the Original Director Releasing Parties solely in their individual capacities
(including their capacities as stockholders) and not in their capacities as directors and shall not in any way affect, impair,
limit, or preclude any Original Director Releasing Party in his capacity as a director of the Company from acting in accordance
with his fiduciary duties or otherwise in accordance with applicable law, including in relation to any claims, causes of action,
litigation, actions, suits, arbitrations, or other proceedings by or on behalf of the Company. The Original Director Releasing
Parties acknowledge that the foregoing waiver of any unknown claims and its inclusion in the definition of Original Director Released
Claims were separately bargained for and is a material element of this Agreement.

 

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(c)
The Consent Participant Releasing Parties covenant not to sue, or encourage anyone else to sue any of the Original Director Released
Parties, with respect to any of the Consent Participant Released Claims, including, without limitation, not to commence a derivative
action with respect to the Consent Participant Released Claims; provided, however, that (i) the foregoing covenant
not to sue is given by the Consent Participant Releasing Parties solely in their individual capacities (including their capacities
as stockholders) and not in their capacities as directors and shall not in any way affect, impair, limit, or preclude any Consent
Participant Releasing Party in his or her capacity as a director of the Company from acting in accordance with his or her fiduciary
duties or otherwise in accordance with applicable law, including in relation to any claims, causes of action, litigation, actions,
suits, arbitrations, or other proceedings by or on behalf of the Company.

 

(d)
The Original Director Releasing Parties covenant not to sue, or encourage anyone else to sue any of the Consent Participant Released
Parties, with respect to any of the Original Director Released Claims, including, without limitation, not to commence a derivative
action with respect to the Original Director Released Claims; provided, however, that (i) the foregoing covenant
not to sue is given by the Original Director Releasing Parties solely in their individual capacities (including their capacities
as stockholders) and not in their capacities as directors and shall not in any way affect, impair, limit, or preclude any Original
Director Releasing Party in his capacity as a director of the Company from acting in accordance with his fiduciary duties or otherwise
in accordance with applicable law, including in relation to any claims, causes of action, litigation, actions, suits, arbitrations,
or other proceedings by or on behalf of the Company.

 

(e)
Each of the Consent Participants and Original Directors acknowledges that her or she has been advised by his or her attorneys
concerning, and is familiar with, California Civil Code Section 1542 (“Section 1542”) and expressly waives
any and all provisions, rights, and benefits conferred by any law of any state or territory of the United States, which is similar,
comparable, or equivalent to the provisions of Section 1542, including that provision itself, which reads as follows:

 

A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER
FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT
WITH THE DEBTOR OR RELEASED PARTY.

 

The
Parties acknowledge that inclusion of the provisions of this Section 1542 waiver in this Agreement was a material and separately
bargained for element of this Agreement.

 

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3.
Representations and Warranties of the Company. The Company represents and warrants to the Original Directors and Consent
Participants as follows: (a) the Company has the power and authority to execute, deliver and carry out the terms and provisions
of this Agreement and to consummate the transactions contemplated by this Agreement; (b) this Agreement has been duly and validly
authorized, executed and delivered by the Company, and assuming due execution by each counterparty hereto, constitutes a valid
and binding obligation and agreement of the Company and is enforceable against the Company in accordance with its terms, except
as enforcement of this Agreement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance
or similar laws generally affecting the right of creditors and subject to general equity principles; and (c) the execution, delivery
and performance of this Agreement by the Company does not and will not (i) violate or conflict with the organizational and governing
documents of the Company, (ii) violate or conflict with any law, rule, regulation, order, judgment or decree applicable to the
Company, or (iii) to the actual knowledge of the Company, without any duty of further inquiry, result in any breach or violation
of or constitute a default (or an event which with notice or lapse of time or both could constitute a breach, violation or default)
under or pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration
or cancellation of, any material contract to which the Company is a party or by which it is bound, in each case other than any
such consequences that may arise in connection with the matters described under the section of the definitive Consent Revocation
Statement filed by the Company with the SEC on March 10, 2021 entitled “Certain Agreements”.

 

4.
Representations and Warranties of the Original Directors. Each Original Director represents and warrants to the Company
and the Consent Participants that, except as otherwise expressly set forth in, or permitted pursuant to, this Agreement, (a) such
Original Director has the power and authority and requisite legal capacity to execute this Agreement and any other documents or
agreements to be entered into in connection with this Agreement and to bind such Original Director hereto and thereto; (b) this
Agreement has been duly authorized, executed and delivered by such Original Director, and assuming due execution each counterparty
hereto, is a valid and binding obligation of such Original Director, enforceable against such Original Director in accordance
with its terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity principles; and
(c) the execution, delivery and performance of this Agreement by such Original Director does not and will not violate or conflict
with any law, rule, regulation, order, judgment or decree applicable to such Original Director.

 

5.
Representations and Warranties of the Consent Participants. Each Consent Participant represents and warrants to the Company
and the Original Directors that, except as otherwise expressly set forth in, or permitted pursuant to, this Agreement, (a) such
Consent Participant has the power and authority and requisite legal capacity to execute this Agreement and any other documents
or agreements to be entered into in connection with this Agreement and to bind such Consent Participant hereto and thereto; (b)
this Agreement has been duly authorized, executed and delivered by such Consent Participant, and assuming due execution by each
counterparty hereto, is a valid and binding obligation of such Consent Participant, enforceable against such Consent Participant
in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity principles;
and (c) the execution, delivery and performance of this Agreement by such Consent Participant does not and will not violate or
conflict with any law, rule, regulation, order, judgment or decree applicable to such Consent Participant.

 

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6.
Mutual Non-Disparagement. Subject to applicable law, each Party covenants and agrees that, during the Standstill Period,
neither such Party nor any of his, her or its subsidiaries, Affiliates, successors, assigns, principals, partners, members, general
partners, officers, key employees, family members and estate planning vehicles, or directors (collectively, “Representatives”),
shall in any way, directly or indirectly, in any capacity or manner, whether written or oral, electronically or otherwise (including,
without limitation, in a television, radio, internet, newspaper, magazine interview, or otherwise through the press, media, analysts
or other Persons or in any document or report filed with the SEC), publicly disparage, impugn, make ad hominem attacks on or otherwise
defame or slander or make, express, transmit, speak, write, verbalize or otherwise publicly communicate in any way (or cause,
further, assist, solicit, encourage, support or participate in any of the foregoing), any public communication or statement of
any kind, whether verbal, in writing, electronically transferred or otherwise, that might reasonably be construed to disparage,
derogate or impugn, any other Party or such other Party’s Representatives (including any current officer or director of
a Party or a Parties’ subsidiaries who no longer serves in such capacity following the execution of this Agreement), employees,
stockholders (solely in their capacity as stockholders of the applicable Party), or any of their businesses, products or services,
in any manner that would reasonably be expected to damage the business, or reputation of such other Party or of its Representatives
(including former officers and directors), directors (or former directors), employees, stockholders (solely in their capacity
as stockholders of such Party); provided that, with respect to any litigation, arbitration or other proceeding between
or involving any of the Parties, nothing in this Section 6 shall prevent any of the Parties from disclosing any facts or
circumstances with respect to any such litigation, arbitration or other proceeding or from testifying truthfully or complying
with discovery obligations, including document and interrogatory discovery, in any such litigation, arbitration or other proceeding.
The Consent Participants and Molloy are entering into and agreeing to the provisions of this Section 6 solely in their
individual capacities (including their capacities as stockholders) and not in their capacities as directors and this Section
6 shall not in any way affect, impair, limit, or preclude any of them in the capacity as a director of the Company from acting
in accordance with his or her fiduciary duties or otherwise in accordance with applicable law, including in relation to any claims,
causes of action, litigation, actions, suits, arbitrations, or other proceedings by or on behalf of the Company. Nothing in this
Section 6 shall affect, impair, limit, or preclude the Company or any stockholders of the Company other than the Consent Participants
and the Original Directors from commencing or prosecuting litigation or arbitration in good faith, including making truthful allegations
in pleadings and court or arbitration filings. This Section 6 shall not limit any Party’s ability to comply with
any subpoena or other legal process or respond to a request for information from any governmental authority with jurisdiction
over the party from whom information is sought.

 

7.
Public Announcement.

 

(a)
Promptly following the execution of this Agreement, the Company shall issue a joint press release with the Consent Participants
substantially in the form attached to this Agreement as Exhibit B (the “Press Release”), with such modifications,
if any, as may be mutually agreed between the Original Directors and the Consent Participants, and (i) the Company shall file
a Current Report on Form 8-K, which shall be in form and substance reasonably acceptable to the Original Directors and the Consent
Participants (for the avoidance of doubt, nothing herein shall prohibit the Company from complying with its obligation to file
such Current Report by the deadline therefor) and (ii) Wetherald, Welo and Thompson shall file an amendment to their Schedule
13D announcing this Agreement and the withdrawal of the Consent Statement, which shall be in form and substance reasonably acceptable
to the Original Directors and the Consent Participants (for the avoidance of doubt, nothing herein shall prohibit Wetherald, Welo
and Thompson from complying with their obligation to file such amendment by the deadline therefor).

 

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(b)
None of the Company, the Original Directors, the Consent Participants or any of their respective Affiliates, Associates, family
members or estate planning vehicles, will issue a separate press release in connection with this Agreement, other than as mutually
agreed by the Original Directors and the Consent Participants.

 

8.
Standstill. During the Standstill Period, the Original Directors shall not, and shall cause their Affiliates not to, directly
or indirectly, absent prior express written invitation or authorization by the Board granted after the date of this Agreement:

 

(a)
solicit proxies, designations or written consents of stockholders, or conduct any binding or nonbinding referendum with respect
to shares of the Company’s common stock, or encourage or participate in any campaign to withhold proxies or votes for director
nominees recommended by the Board, or make or in any way participate in any “solicitation” of any “proxy”
within the meaning of Rule 14a-1 promulgated by the SEC under the Exchange Act (but without regard to the exclusion set forth
in Rule 14a-1(l)(2)(iv) from the definition of “solicitation”) to vote or withhold the vote of any shares of the Company’s
common stock with respect to any matter, or become a “participant” in any contested solicitation for the election
of directors with respect to the Company (as such terms are defined or used in the Exchange Act and the rules promulgated thereunder),
other than solicitations or acting as a “participant” in support of the recommendations of the Board;

 

(b)
(i) seek, alone or in concert with others, election or appointment to, or representation on, the Board or nominate or propose
the nomination of, or recommend the nomination of, any candidate to the Board, (ii) seek, alone or in concert with others, the
removal of any member of the Board, except as expressly set forth herein, or (iii) seek to call, request the call, join with any
other stockholder in a request to call or call, a special meeting of the Company’s stockholders;

 

(c)
form, join, or in any other way participate in, a “partnership, limited partnership, syndicate or other group” within
the meaning of Section 13(d)(3) of the Exchange Act with respect to shares of the Company’s common stock, or deposit any
shares of the Company’s common stock in a voting trust or similar arrangement, or subject any shares of the Company’s
common stock to any voting agreement or pooling arrangement, or grant any proxy, designation or consent with respect to any shares
of the Company’s common stock (other than to a designated representative of the Company pursuant to a proxy or consent solicitation
on behalf of the Board), other than solely with one or more Affiliates of the applicable Original Director with respect to shares
of the Company’s common stock acquired in compliance with Section 8(e) below or to the extent such a group may be
with the Company or any of its Affiliates;

 

(d)
make or be the proponent of any nomination or stockholder proposal (whether pursuant to Rule 14a-8 under the Exchange Act or otherwise),
or encourage any nomination or stockholder proposal, at any meeting of the Company stockholders or in connection with any action
in lieu of a meeting;

 

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(e)
acquire, or offer, seek or agree to acquire, by purchase or otherwise, beneficial ownership of any shares of the Company’s
common stock if, in any such case, immediately after taking such action, the applicable Original Director together with his Affiliates,
would, in the aggregate, beneficially own more than 5.0% of the then outstanding shares of the Company’s common stock;

 

(f)
propose, offer or participate in (i) any effort to acquire the Company or any of its subsidiaries or any material assets or operations
of the Company or any of its subsidiaries, (ii) any effort to engage in a transaction or enter into any agreement that would result
in beneficial ownership by any person or entity or group (as defined in Section 13(d)(3) of the Exchange Act) of more than 30%
of the outstanding shares of the Company’s common stock at any time or outstanding voting power of the Company at any time,
(iii) any tender offer, exchange offer, merger, acquisition, share exchange or other business combination involving the Company
or any of its subsidiaries, (iv) any effort with respect to share repurchases, dividends or self-tenders, other than as recommended
by the Company, (v) any plan or proposal that would relate to any of the items listed in Item 4 of Schedule 13D promulgated under
the Exchange Act (except as contemplated hereby), or (vi) any recapitalization, restructuring, liquidation, disposition, dissolution
or other extraordinary transaction involving the Company, any of its subsidiaries or any material portion of their businesses;

 

(g)
seek to advise, encourage, support or influence any person with respect to the voting, giving or withholding of any proxy, consent,
or other authority with respect to the shares of the Company’s common stock (except that nothing herein shall restrict an
Original Director or his Affiliates from providing such advice, encouragement, support or influence (i) that is consistent with
the Company’s recommendations on such matters or (ii) voting, giving or withholding of any proxy, consent, or other authority);

 

(h)
publicly seek in any manner to obtain any waiver, consent under, or amendment of, any provision of this Section 8;

 

(i)
make or issue or cause to be made or issued any public disclosure, announcement or statement (including without limitation the
filing of any document or report with the SEC or any other governmental agency or any disclosure to any journalist, member of
the media or securities analyst) (i) in support of any solicitation described in Section 8(a) above (other than solicitations
on behalf of the Board), or (ii) in support of any matter described in Section 8(b) or Section 8(d) above;

 

(j)
make any request for stockholder list materials of the Company under Section 220(b) of the Delaware General Corporation Law or
otherwise; or

 

(k)
enter into any discussions, negotiations, agreements or understandings with any Person with respect to the foregoing, or advise,
assist, encourage, support or seek to persuade others to take any action with respect to any of the foregoing, or act in concert
with others or as part of a group (within the meaning of Section 13(d)(3) of the Exchange Act) with respect to any of the foregoing.

 

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Notwithstanding
anything to the contrary in this Agreement, nothing in this Section 8 shall prohibit or restrict (x) Molloy from acting
in his capacity as a continuing director of the Company or member of a committee of the Board, or from engaging in private discussions
with the Board, any committee, any director or member of the Company management, or from requesting or receiving access to any
documents or information to which a director or member of a committee is entitled under applicable law, or from being nominated
by the Board or any committee of the Board as a candidate for election or appointment as a director, or otherwise limit the exercise
in good faith by Molloy of his duties or rights in his capacity as a continuing director of the Company in accordance with his
fiduciary duties or (y) an Original Director or his Representatives from (i) communicating privately with the Board or any of
the Company’s officers regarding any matter in a manner that does not otherwise violate this Section 8, so long as
such communications are not intended to, and would not reasonably be expected to, require any public disclosure of such communications
(including, without limitation, in any document or report filed with the SEC), or (ii) taking any action necessary to comply with
any law, rule or regulation in a manner that does not otherwise violate this Section 8. Each Original Director shall be
entitled to vote shares of the Company’s common stock beneficially owned by such Original Director as he determines in his
sole discretion and or tender shares of the Company’s common stock in any tender offer or exchange offer.

 

9.
Dismissal of Litigation. Within two (2) business days after the execution and delivery of this Agreement by all Parties,
the parties to the Delaware Actions will (a) file with the Supreme Court of the State of Delaware a notice of dismissal of the
Appeal or a stipulation and proposed order requesting dismissal of the Appeal on the grounds the Appeal is moot, and take such
other actions as may be necessary, proper, or advisable to cause the Appeal to be dismissed, and (b) file a stipulation and proposed
order of dismissal in each of the Delaware Actions, with the order seeking dismissal of Thomas Wetherald v. Scott Mahoney et
al., C.A. No. 2021-0194-MTZ to be with prejudice as to plaintiffs Wetherald and Welo only and without prejudice as to the
Company and any of its other stockholders, and the Parties shall use their reasonable best efforts to take, or cause to be taken,
all actions, and to do, or cause to be done, and to assist and cooperate with the other in doing, all things necessary, proper,
or advisable to obtain, as expeditiously as possible, approval of the dismissals and entry of the dismissal orders by the Court
(or approval and entry of some other forms of order of the Court dismissing the Delaware Actions), including, without limitation,
providing any notice to stockholders that may be required by the Court of Chancery.

 

10.
Definitions. For purposes of this Agreement:

 

(a)
the terms “Affiliate” and “Associate” shall have the respective meanings set forth in Rule
12b-2 promulgated by the SEC under the Exchange Act and shall include all Persons that at any time during the term of this Agreement
become Affiliates or Associates of any Person referred to in this Agreement;

 

(b)
the term “Appeal” means the appeal taken or to be taken to the Supreme Court of the State of Delaware by the
defendants in Thomas Wetherald v. Scott Mahoney, et al., C.A. No. 2021-0194-MTZ relating to the Court of Chancery’s
April 1, 2021 bench ruling and order concerning the record date for the consent solicitation;

 

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(c)
the term “Consent Participant Board” means Wetherald, Welo, Thompson, McCormick and Vasnetsov, who the Consent
Participants contend were elected on April 5, 2021 upon delivery of the Consents to the principal place of business of the Company;

 

(d)
the term “Delaware Actions” means (i) the action in the Delaware Court of Chancery captioned Thomas Wetherald
v. Scott Mahoney, et al., C.A. No. 2021-0194-MTZ, and (ii) the action in the Delaware Court of Chancery captioned Thomas
Wetherald, et al. v. Robert Dingess, et al., C.A. No. 2021-0291;

 

(e)
the term “Exchange Act” means the Securities Exchange Act of 1934, as amended;

 

(f)
the term “Original Director Board” means Dingess, Pollack, Staunton and Molloy;

 

(g)
the terms “Person” or “Persons” mean any individual, corporation (including not-for-profit),
general or limited partnership, limited liability or unlimited liability company, joint venture, estate, trust, association, organization
or other entity of any kind or nature; and

 

(h)
the term “Standstill Period” means the period from the date of this Agreement until the earlier to occur of
(x) the 2022 annual meeting of the Company’s stockholders, and (y) September 30, 2022.

 

11.
Notices. All notices, consents, requests, instructions, approvals and other communications provided for herein and all
legal process in regard to this Agreement will be in writing and will be deemed validly given, made or served, if (i) given by
email, when sent to the email address set forth below (as applicable), and receipt of such email is acknowledged, or (ii) if given
by any other means, when actually received during normal business hours at the address specified in this Section 8:

 

(a)
if to the Company:

 

	Taronis
    Fuels, Inc.
	24980
    N. 83rd Ave., Suite 100
	Peoria,
    AZ 85383
	Attention:	Corporate
    Secretary

 

with
copies to:

 

	O’Melveny
    & Myers LLP
	Times
    Square Tower
	7
    Times Square
	New
    York, NY 10036
	Attention:	Tobias
    L. Knapp
	Email:	tknapp@omm.com
	Telephone:	(212)
    326-2061
	 	 
	Hogan
    Lovells US LLP
	1601
    Wewatta Street, Suite 900
	Denver,
    CO 80202
	Attention:	David
    Crandall
	Email:	david.crandall@hoganlovells.com
	Telephone:	(303)
    454-2449

 

    	10

    	 

    

 

(b)
if to any Original Director, to the address set forth under such Original Director’s name on the signature pages hereto,

 

with
a copy to:

 

	O’Melveny
    & Myers LLP
	Times
    Square Tower
	7
    Times Square
	New
    York, NY 10036
	Attention:	Tobias
    L. Knapp
	Email:	tknapp@omm.com
	Telephone:	(212)
    326-2061

 

(c)
if to the Consent Participants:

 

c/o
Thomas Wetherald

49
Red Gate Lane

Cohasset,
MA 02025

 

with
a copy to:

 

	Hogan
    Lovells US LLP
	1601
    Wewatta Street, Suite 900
	Denver,
    CO 80202
	Attention:	David
    Crandall
	Email:	david.crandall@hoganlovells.com
	Telephone:	(303)
    454-2449

 

12.
Specific Performance; Remedies; Venue; WAIVER OF JURY TRIAL.

 

(a)
Each Party acknowledges and agrees that irreparable injury to the other Parties could occur in the event any of the provisions
of this Agreement were not performed in accordance with their specific terms or were otherwise breached and that such injury could
not be adequately compensable by the remedies available at law (including the payment of money damages). It is accordingly agreed
that each Party will be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically
the terms and provisions of this Agreement, in addition to any other remedy to which they are entitled at law or in equity. Furthermore,
the Parties agree that (i) any non-breaching Party will be entitled to seek injunctive and other equitable relief, without proof
of actual damages; and (ii) the breaching Party agrees to waive any bonding requirement under any applicable law, in the case
any other Party seeks to enforce the terms of this Agreement by way of equitable relief. This Agreement will be governed in all
respects, including with respect to the validity, interpretation and effect hereof, by the laws of the State of Delaware without
giving effect to the choice of law principles of such state.

 

    	11

    	 

    

  

(b)
The Parties (i) irrevocably and unconditionally submit to the personal jurisdiction of the Delaware Court of Chancery (or, only
if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, the federal or other state courts
located in Wilmington, Delaware), (ii) agree that they will not attempt to deny or defeat such personal jurisdiction by motion
or other request for leave from any such courts, (iii) agree that any actions or proceedings arising in connection with this Agreement
or the transactions contemplated by this Agreement shall be brought, tried and determined only in such courts, (iv) waive any
claim of improper venue or any claim that those courts are an inconvenient forum and (v) agree that they will not bring any action
relating to this Agreement or the transactions contemplated hereby in any court other than the aforesaid courts. The Parties agree
that mailing of process or other papers in connection with any such action or proceeding in the manner provided in Section
11 or in such other manner as may be permitted by applicable law as sufficient service of process, shall be valid and sufficient
service thereof.

 

(c)
EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED
AND DIFFICULT ISSUES AND, THEREFORE, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH
PARTY CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF ANY SUCH PROCEEDING; (II) SUCH PARTY HAS CONSIDERED
THE IMPLICATIONS OF THIS WAIVER; (III) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY; AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER
INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 12(c)

 

13.
Acknowledgments.

 

(a)
Each Party acknowledges that such Party has been represented by counsel of such Party’s choice throughout all negotiations
that have preceded the execution of this Agreement, and that such Party has executed the same with the advice of such counsel.
Each Party and its counsel cooperated and participated in the drafting and preparation of this Agreement and the documents referred
to herein, and any and all drafts relating thereto exchanged among the Parties will be deemed the work product of all of the Parties
and may not be construed against any Party by reason of its drafting or preparation. Accordingly, any rule of law or any legal
decision that would require interpretation of any ambiguities in this Agreement against any Party that drafted or prepared it
is of no application and is hereby expressly waived by each Party, and any controversy over interpretations of this Agreement
will be decided without regard to events of drafting or preparation.

 

(b)
Each Party acknowledges and agrees that such Party will cause his, her or its Affiliates, Associates and their respective employees
and other representatives to comply with the terms of this Agreement.

 

    	12

    	 

    

 

(c)
Each Party acknowledges that the Company has engaged certain third party advisors and incurred fees and expenses in connection
with the consent solicitation commenced in relation to the Consent Statement, and that, notwithstanding any change in the composition
of the Board or otherwise resulting from this Agreement or such consent solicitation, such fees and expenses remain, until satisfied
in full, the obligations of the Company. In addition, each Party acknowledges that nothing in this Agreement shall limit or prevent
the Consent Participants from seeking reimbursement from the Company for their fees and expenses in connection with the consent
solicitation commenced in relation to the Consent Statement.

 

(d)
The Consent Participants acknowledge that they understand their respective obligations under applicable federal and state securities
laws, and the Parties acknowledge that none of the provisions herein shall in any way limit the activities of the Consent Participants
or their Representatives in their respective ordinary course of business as long as such activities do not violate applicable
law (including applicable state and federal securities laws and fiduciary duties imposed under applicable law) or the obligations
specifically agreed to under this Agreement.

 

14.
Severability. If at any time subsequent to the date hereof, any provision of this Agreement is held by any court of competent
jurisdiction to be illegal, void or unenforceable, such provision will be of no force and effect, but the illegality or unenforceability
of such provision will have no effect upon the legality or enforceability of any other provision of this Agreement.

 

15.
Counterparts. This Agreement may be executed in two or more counterparts and by scanned computer image (such as .pdf),
each of which will be deemed to be an original copy of this Agreement. For the avoidance of doubt, no Party shall be bound by
any contractual obligation to the other Parties (including by means of any oral agreement) until all counterparts to this Agreement
have been duly executed by each of the Parties and delivered to such Party (including by means of electronic delivery or facsimile).

 

16.
No Third-Party Beneficiaries. Except as expressly set out in the second sentence of this Section 16, this Agreement
is solely for the benefit of the Company, the Original Directors and the Consent Participants, and is not enforceable by any other
Persons. The Parties hereby designate all Original Director Released Parties and Consent Participant Released Parties as third-party
beneficiaries of Section 2(a) and Section 2(b), respectively, having the right to enforce such Sections. No Party
may assign its rights or delegate its obligations under this Agreement, whether by operation of law or otherwise, without the
prior written consent of the other Parties, and any assignment in contravention hereof will be null and void.

 

17.
No Waiver. No failure or delay by any Party in exercising any right or remedy hereunder will operate as a waiver thereof,
nor will any single or partial waiver thereof preclude any other or further exercise thereof or the exercise of any other right
or remedy hereunder.

 

18.
Entire Understanding; Amendment. This Agreement contains the entire understanding of the Parties with respect to the subject
matter hereof and supersedes any and all prior and contemporaneous agreements, memoranda, arrangements and understandings, both
written and oral, between the Parties, or any of them, with respect to the subject matter of this Agreement. This Agreement may
be amended only by an agreement in writing executed by each of the Parties.

 

[Signature
pages follow]

 

    	13

    	 

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized signatories of the Parties as
of the date first set forth above.

 

	 	THE
    COMPANY:
	 	 	 
	 	TARONIS
    FUELS, INC.
	 	 	 
	 	By:	/s/
    Edward J. Fred
	 	Name:	Edward
    J. Fred
	 	Title:	Interim
Chief Executive Officer
	 	 	 
	 	ORIGINAL
    DIRECTORS:
	 	 	 
	 	DINGESS
	 	 	 
	 	/s/
    Robert Dingess
	 	Robert
    Dingess
	 	 	 
	 	Address:	 
	 	 
	 	 
	 	 
	 	POLLACK
	 	 	 
	 	/s/
    Kevin Pollack
	 	Kevin
    Pollack
	 	 	 
	 	Address:	 
	 	 
	 	 
	 	 	 
	 	STAUNTON
	 	 	 
	 	/s/
    William Staunton
	 	William
    Staunton
	 	 	 
	 	Address:	 
	 	 
	 	 
	 	 	 
	 	MOLLOY
	 	 	 
	 	/s/
    Peter Molloy
	 	Peter
    Molloy
	 	 	 
	 	Address:	 
	 	 
	 	 

 

[Signature
Page to Cooperation and Settlement Agreement]

 

    	 

    	 

    

 

	 	CONSENT
    PARTICIPANTS:
	 	 
	 	WETHERALD
	 	 
	 	/s/
    Thomas Wetherald
	 	Thomas
    Wetherald
	 	 
	 	WELO
	 	 
	 	/s/
    Tobias Welo
	 	Tobias
    Welo
	 	 
	 	THOMPSON
	 	 
	 	/s/
    Mary Pat Thompson
	 	Mary
    Pat Thompson
	 	 
	 	MCCORMICK
	 	 
	 	/s/
    Andrew McCormick
	 	Andrew
    McCormick
	 	 
	 	VASNETSOV
	 	 
	 	/s/
    Sergey Vasnetsov
	 	Sergey
    Vasnetsov

 

[Signature
Page to Cooperation and Settlement Agreement]

 

    	 

    	 

    

 

Exhibit
A

 

Form
of Written Consent

 

[see
attached]

 

    	 

    	 

    

 

Exhibit
B

 

Press
Release

 

[see
attached]Document

DOSH HOLDINGS, INC. 2017 STOCK INCENTIVE PLAN
1.    PURPOSE
The DOSH Holdings, Inc. 2017 Stock Incentive Plan is intended to promote the best interests of DOSH Holdings, Inc. (the “Corporation”) and its stockholders by (i) assisting the Corporation and its Affiliates in the recruitment and retention of persons with ability and initiative, (ii) providing an incentive to such persons to contribute to the growth and success of the Corporation’s businesses by affording such persons equity participation in the Corporation and (iii) associating the interests of such persons with those of the Corporation and its affiliates and stockholders.
2.    DEFINITIONS
As used in this Plan the following definitions shall apply:
A.“Affiliate” means (i) any Subsidiary, (ii) any Parent, (iii) any entity (including, without limitation,     a corporation, partnership or limited liability company) which is directly or indirectly controlled fifty percent (50%) or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) by the Corporation or one of its Affiliates, (iv) any entity (including, without limitation, a corporation, partnership or limited liability company) which directly or indirectly controls fifty percent (50%) or more (whether by ownership of stock, assets or equivalent ownership interest or voting interest) of the Corporation or one of its Affiliates, and (v) any other entity in which the Corporation or any of its Affiliates has a material equity interest and which is designated as an “Affiliate” by resolution of the Committee.   However, for purposes of granting Options or Stock Appreciation Rights, an entity shall not be treated as an Affiliate unless the Corporation holds a “controlling interest” in such entity, where the term “controlling interest” has the meaning provided in Treasury Regulation Section 1.414(c)-2(b)(2)(i), provided that the language “at least 50 percent” is used instead of “at least 80 percent” in Treasury Regulation Section 1.414(c)-2(b)(2)(i), and, provided further, that where the granting to such Participant of Options or Stock Appreciation Rights with respect to the Non-Voting Common Stock is based upon a legitimate business criteria, the language “at least 20 percent” is used instead of “at least 80 percent” each place it appears in Treasury Regulation Section 1.414(c)-2(b)(2)(i).
B.“Board” means the Board of Directors of the Corporation.
C.“Cause” means (i) in the case where the Participant does not have an employment agreement, consulting agreement or similar agreement in effect with the Corporation or its Affiliate at the time of grant of the Option or Stock Award or where there is such an agreement but it does not define “cause” (or words of like import), conduct related to the Participant’s service to the Corporation or an Affiliate for which either criminal or civil penalties against the Participant may be sought, misconduct, insubordination, material violation of the Corporation’s or its Affiliate’s policies, disclosing or misusing any confidential information or material concerning the Corporation or an Affiliate or material breach of any employment agreement, consulting agreement or similar agreement, or (ii) in the case where the Participant has an employment agreement, consulting agreement or similar agreement in effect with the Corporation or its Affiliate at the time of grant of the Option or Stock Award that defines a termination for “cause” (or words of like import), “cause” as defined in such agreement; provided, however, that with regard to any agreement that defines “cause” on occurrence of or in connection with change of control, such definition of “cause” shall not apply until a change of control actually occurs and then only with regard to a termination thereafter. Notwithstanding the foregoing, in the case of an award which is intended to comply with Section 25102(o) of the California Corporations Code, such event must also constitute “cause” under applicable law. 
D.“Code” means the Internal Revenue Code of 1986, and any amendments thereto.
E.“Committee” means the Board or any Committee of the Board to which the Board has delegated any responsibility for the implementation, interpretation or administration of the Plan.
F.“Consultant” means (i) any person or entity performing consulting or advisory services for the Corporation or any Affiliate, or (ii) a director of an Affiliate.

G.“Continuous Service” means that the Participant’s service with the Corporation or an Affiliate, whether as an employee, Director or Consultant, is not interrupted or terminated. A Participant’s Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Participant renders service to the Corporation or an Affiliate as an employee, Director or Consultant or a change in the entity for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s Continuous Service. The Participant’s Continuous Service shall be deemed to have terminated either upon an actual termination or upon the entity for which the Participant is performing services ceasing to be an Affiliate of the Corporation. The Committee shall determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by the Corporation, including sick leave, military leave or any other personal leave. Whether a termination of Continuous Service shall have occurred for purposes of the Plan shall be determined by the Committee, which determination shall be final, binding and conclusive. In the event that any award under the Plan is treated as nonqualified deferred compensation subject to the provisions of Section 409A of the Code, a payment event by reason of a termination of Continuous Service shall, if necessary to comply with Section 409A of the Code, occur with respect to such award only if such termination of Continuous Service also qualifies as a separation from service within the meaning of Section 409A of the Code.
H.“Corporation” means DOSH Holdings, Inc., a Delaware corporation.
I.“Corporation Law” means the general corporation law of the jurisdiction of incorporation of the Corporation.
J.“Director” means a member of the Board.
K.“Disability” shall, except as otherwise provided in an award agreement, have the meaning provided for in Section 22(e)(3) of the Code or any successor statute thereto. In the event that any award under the Plan is treated as nonqualified deferred compensation subject to the provisions of Section 409A of the Code, a payment event by reason of a Disability shall, if necessary to comply with Section 409A of the Code, occur with respect to such award only if such Disability also qualifies the Participant as disabled within the meaning of Section 409A(a)(2)(C) of the Code.
L.“Eligible Person” means an employee of the Corporation or an Affiliate (including an entity that becomes an Affiliate after the adoption of this Plan), a Director or a Consultant to the Corporation or an Affiliate (including an entity that becomes an Affiliate after the adoption of this Plan).
M.“Exchange Act” means the Securities Exchange Act of 1934, as amended.
N.“Fair Market Value” means, on any given date, the current fair market value of the shares of Non-Voting Common Stock determined as follows:
i.If the Non-Voting Common Stock is traded on The NASDAQ Stock Market or is listed on a national securities exchange, the closing price for the day of determination as quoted on such market or exchange which is the primary market or exchange for trading of the Non-Voting Common Stock or if no trading occurs on such date, the last day on which trading occurred, or such other appropriate date as determined by the Committee in its discretion, as reported in The Wall Street Journal or such other source as the Committee deems reliable;
ii.If the Non-Voting Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value shall be the mean between the high and the low asked prices for the Non-Voting Common Stock for the day of determination; or
iii.In the absence of an established market for the Non-Voting Common Stock, Fair Market Value shall be determined by the Committee in good faith; provided that Fair Market Value shall be determined in accordance with Section 422 of the Code or Section 409A of the Code, as appropriate, and the regulations and guidance thereunder.

O.“Incentive Stock Option” means an Option (or portion thereof) intended to qualify for special tax treatment under Section 422 of the Code.
P.“Listing Date” means the date on which the Corporation has a class of equity securities registered under Section 12 of the Securities Act.
Q.“Nonqualified Stock Option” means an Option (or portion thereof) which is not intended or does not for any reason qualify as an Incentive Stock Option.
R.“Non-Voting Common Stock” means the Non-Voting Common Stock, $0.0001 par value, of the Corporation.
S.“Option” means any option to purchase shares of Non-Voting Common Stock granted under this Plan.
T.“Other Stock Award” means an award that is based in whole or in part by reference to Non- Voting Common Stock under Section 7.E.
U.“Parent” means any corporation (other than the Corporation) in an unbroken chain of corporations ending with the Corporation if each of the corporations (other than the Corporation) owns stock possessing at least fifty percent (50%) of the total combined voting power of all classes of stock in one of the other corporations in such chain.
V.“Participant” means an Eligible Person who is selected by the Committee to receive an Option or a Stock Award and is party to a Stock Option Agreement or Stock Award Agreement required by the terms of such Option or Stock Award.
W.“Plan” means this DOSH Holdings, Inc. 2017 Stock Incentive Plan.
X.“Restricted Stock Award” means an award of Non-Voting Common Stock under Section
Y.“Restricted Stock Unit” means an award of an unfunded and unsecured right to receive shares of Non-Voting Common Stock (or cash or a combination of shares and cash, as determined in the sole discretion of the Committee) upon settlement of the award under Section 7.D.
Z.“Securities Act” means the Securities Act of 1933 as amended.
AA.“Stock Appreciation Right” means an award of a right of the Participant under Section 7.C. to receive a cash payment based on the increase in the Fair Market Value of the shares of Non-Voting Common Stock covered by the award.
AB.“Stock Award” means a Stock Bonus Award, Restricted Stock Award, Stock Appreciation Right,  Restricted Stock Unit Award or Other Stock Award.
AC.“Stock Award Agreement” means an agreement (written or electronic) between the Corporation and a Participant setting forth the specific terms and conditions of a Stock Award granted to the Participant under Section 7. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan and shall include such terms and conditions as the Committee shall authorize.
AD.“Stock Bonus Award” means an award of Non-Voting Common Stock under Section 7.A.
AE.“Stock Option Agreement” means an agreement (written or electronic) between the Corporation and a Participant setting forth the specific terms and conditions of an Option granted to the Participant. Each Stock Option Agreement shall be subject to the terms and conditions of the Plan and shall include such terms and conditions as the Committee shall authorize.
AF.“Subsidiary” means any corporation (other than the Corporation) in an unbroken chain of corporations beginning with the Corporation if each of the corporations (other than the last corporation in the unbroken chain) owns stock possessing at least fifty percent (50%) of the total combined voting power of all classes of stock in one of the other corporations in such chain.

AG.“Ten Percent Owner” means any Eligible Person owning at the time an Option is granted more than ten percent (10%) of the total combined voting power of all classes of stock of the Corporation or of a Parent or Subsidiary. An individual shall, in accordance with Section 424(d) of the Code, be considered to own any voting stock owned (directly or indirectly) by or for his brothers, sisters, spouse, ancestors and lineal descendants and any voting stock owned (directly or indirectly) by or for a corporation, partnership, estate, or trust shall be considered as being owned proportionately by or for its stockholders, partners or beneficiaries.
3.    ADMINISTRATION
A.Delegation of Administration. The Board shall be the sole Committee of the Plan unless the Board delegates all or any portion of its authority to administer the Plan to another Committee. To the extent not prohibited by the charter or bylaws of the Corporation, the Board may delegate all or a portion of its authority to administer the Plan to a committee of the Board appointed by the Board and constituted in compliance with the Corporation Law. If permitted by the Corporation Law, and not prohibited by the charter or bylaws of the Corporation, the Board may also delegate all or a portion of its authority to administer the Plan to an officer or officers of the Corporation designated by the Board.
B.Powers of the Committee. Subject to the provisions of the Plan, and, in the case of a Committee appointed by the Board, the specific duties delegated to such Committee, the Committee shall have the authority to implement, interpret and administer the Plan. Such authority shall include, without limitation, the authority:
i.To construe and interpret all provisions of this Plan and all Stock Option Agreements and Stock Award Agreements under this Plan.
ii.To determine the Fair Market Value of Non-Voting Common Stock.
iii.To select the Eligible Persons to whom Options or Stock Awards, are granted from time to time hereunder.
iv.To determine the number of shares of Non-Voting Common Stock covered by an Option or Stock Award; determine whether an Option shall be an Incentive Stock Option or Nonqualified Stock Option; and determine such other terms and conditions, not inconsistent with the terms of the Plan, of each such Option or Stock Award. Such terms and conditions include, but are not limited to, the exercise price of an Option, purchase price of Non-Voting Common Stock subject to a Stock Award, the time or times when Options or Stock Awards may be exercised or Non- Voting Common Stock issued thereunder, the right of the Corporation to repurchase Non-Voting Common Stock issued pursuant to the exercise of an Option or a Stock Award and other restrictions or limitations (in addition to those contained in the Plan) on the forfeitability or transferability of Options, Stock Awards or Non-Voting Common Stock issued upon exercise of an Option or pursuant to a Stock Award. Such terms may include conditions as shall be determined by the Committee and need not be uniform with respect to Participants.
v.To accelerate the time at which any Option or Stock Award may be exercised, or the time at which a Stock Award or Non-Voting Common Stock issued under the Plan may become transferable or nonforfeitable.

vi.To amend, cancel, extend, renew, accept the surrender of, modify or accelerate the vesting of or lapse of restrictions on all or any portion of an outstanding Option or Stock Award and to reduce the exercise price of any Option. Except as specifically permitted by the Plan, the Stock Option Agreement or Stock Award Agreement or as required to comply with applicable law, regulation or rule, no amendment, cancellation or modification shall, without a Participant’s consent, adversely affect any rights of the Participant; provided, however, that an amendment or modification that may cause an Incentive Stock Option to become a Nonqualified Stock Option, and any amendment or modification that is required to comply with the rules applicable to Incentive Stock Options, shall not be treated as adversely affecting the rights of the Participant.
vii.To prescribe the form of Stock Option Agreements and Stock Award Agreements; to adopt policies and procedures for the exercise of Options or Stock Awards, including the satisfaction of withholding obligations; to adopt, amend, and rescind policies and procedures pertaining to the administration of the Plan; and to make all other determinations necessary or advisable for the administration of this Plan. 
The express grant in the Plan of any specific power to the Committee shall not be construed as limiting any power or authority of the Committee; provided that a Committee of the Board may not exercise any right or power reserved to the Board. Any decision made, or action taken, by the Committee or in connection with the administration of this Plan shall be final, conclusive and binding on all persons having an interest in the Plan.
C.Administration When Non-Voting Common Stock is Publicly Traded. On and following the Listing Date the Committee authorized by the Board to administer the Plan shall, if so determined by the Board, consist of solely two (2) or more Non-Employee Directors (within the meaning of Rule 16b-3 under the Exchange Act) and/or two (2) or more persons who qualify as Outside Directors (within the meaning of Treasury Regulations under Section 162(m) of the Code); provided that the Board may delegate administrative authority with respect to Eligible Persons who are not subject to Section 16 of the Exchange Act to a committee of other than Non-Employee Directors and/or to a committee of other than Outside Directors if either the Board determines not to comply with Section 162(m) or such authority is limited to Eligible Persons who are not then and are not reasonably expected to become Covered Employees (within the meaning of Section 162(m) of the Code).
4.    ELIGIBILITY
A.Eligibility for Awards. Nonqualified Stock Options and Stock Awards may be granted to any Eligible Person selected by the Committee. Incentive Stock Options may be granted only to employees of the Corporation or a Parent or Subsidiary.
B.Eligibility of Consultants. A Consultant shall be an Eligible Person only if the offer or sale of the Corporation’s securities would be exempt from registration under Rule 701 under the Securities Act prior to the date the Corporation is required to file reports under Section 13 or 15(d) of the Exchange Act, or eligible for registration on Form S-8 Registration Statement, on and following the date the Corporation is required to file reports under Section 13 or 15(d) of the Exchange Act, because, in either case, of the identity and nature of the service provided by such person, unless the Corporation determines that an offer or sale of the Corporation’s securities to such person will satisfy another exemption from the registration under the Securities Act and complies with the securities laws of all other jurisdictions applicable to such offer or sale.

C.Substitution Awards. The Committee may make Stock Awards and may grant Options under the Plan by assumption, substitution or replacement of performance shares, phantom shares, stock awards, stock options, stock appreciation rights or similar awards granted by another entity (including an Affiliate), if such assumption, substitution or replacement is in connection with an asset acquisition, stock acquisition, merger, consolidation or similar transaction involving the Corporation (and/or its Affiliate) and such other entity (and/or its affiliate). Notwithstanding any provision of the Plan (other than the maximum number of shares of Non-Voting Common Stock that may be issued under the Plan), the terms of such assumed, substituted or replaced Stock Awards or Options shall be as the Committee, in its discretion, determines is appropriate.
5.    NON-VOTING COMMON STOCK SUBJECT TO PLAN
A.Share Reserve. Subject to adjustment as provided in Section 8, the maximum aggregate number of shares of Non-Voting Common Stock that may be (i) issued under this Plan pursuant to the exercise of Options, (ii) issued pursuant to Stock Bonus Awards and Restricted Stock Awards, and (iii) covered by Restricted Stock Unit Awards is One Million Seven Hundred Thousand (1,700,000) shares (the “Share Reserve”). Since shares of Non-Voting Common Stock may not be issued upon exercise of Stock Appreciation Rights, the number of shares of Non-Voting Common Stock covered by Stock Appreciation Rights shall not reduce the Share Reserve.
B.Reversion of Shares. If an Option or Stock Award is terminated, expires or becomes unexercisable, in whole or in part, for any reason, the unissued or unpurchased shares of Non-Voting. Common Stock (or shares subject to an unexercised Stock Appreciation Right or unsettled Restricted Stock Unit Award) which were subject thereto shall become available for future grant under the Plan. Shares of Non-Voting Common Stock that have been actually issued under the Plan shall not be returned to the share reserve for future grants under the Plan; except that shares of Non-Voting Common Stock issued pursuant to a Stock Award which are forfeited back to the Corporation rather than vesting, shall be returned to the share reserve for future grant under the Plan.
C.Source of Shares. Non-Voting Common Stock issued under the Plan may be shares of authorized and unissued Non-Voting Common Stock or shares of previously issued Non-Voting Common Stock that have been reacquired by the Corporation.
6.    OPTIONS
A.Award. In accordance with the provisions of Section 4, the Committee will designate each Eligible Person to whom an Option is to be granted and will specify the number of shares of Non-Voting Common Stock covered by such Option. The Stock Option Agreement shall specify whether the Option is an Incentive Stock Option or Nonqualified Stock Option, the vesting schedule (if any) applicable to such Option and any other terms of such Option. No Option that is intended to be an Incentive Stock Option shall be invalid for failure to qualify as an Incentive Stock Option. Shares of Non-Voting Common Stock issued pursuant to an Option may, but need not, be subject to a vesting schedule and may, but need not, be subject to a share repurchase option in favor of the Corporation as determined by the Committee.
B.Exercise Price. The exercise price per share for Non-Voting Common Stock subject to an Option shall be determined by the Committee, but shall comply with the following:
i.The exercise price per share for Non-Voting Common Stock subject to a Nonqualified or Incentive Stock Option shall be determined by the Committee, provided that the exercise price per share for Non-Voting Common Stock shall not be less than one hundred percent (100%) of the Fair Market Value on the date of grant.
ii.The exercise price per share for Non-Voting Common Stock subject to an Incentive Stock Option granted to a Participant who is or is deemed to be a Ten Percent Owner on the date such option is granted, shall not be less than one hundred ten percent (110%) of the Fair Market Value on the date of grant.

C.Maximum Option Period. The maximum period during which an Option may be exercised shall be determined by the Committee on the date of grant, except that no Option that is intended to be an Incentive Stock Option shall be exercisable after the expiration of ten (10) years from the date such Option was granted. In the case of an Incentive Stock Option that is granted to a Participant who is or is deemed to be a Ten Percent Owner on the date of grant, such Option shall not be exercisable after the expiration of five (5) years from the date of grant. The terms of any Option that is an Incentive Stock Option may provide that it is exercisable for a period less than such maximum period.
D.Maximum Value of Options which are Incentive Stock Options. To the extent that the aggregate Fair Market Value of the Non-Voting Common Stock with respect to which Incentive Stock Options granted to any person are exercisable for the first time during any calendar year (under all stock option plans of the Corporation and its Parent (if any) or any of its Subsidiaries) exceeds $100,000 (or such other amount provided in Section 422 of the Code), the Options are not Incentive Stock Options.
For purposes of this section, the Fair Market Value of the Non-Voting Common Stock will be determined as of the time the Incentive Stock Option with respect to the Non-Voting Common Stock is granted. This section will be applied by taking Incentive Stock Options into account in the order in which they are granted.
E.Nontransferability. Options granted under this Plan which are intended to be Incentive Stock Options shall be nontransferable except by will or by the laws of descent and distribution and during the lifetime of the Participant shall be exercisable by only the Participant to whom the Incentive Stock Option is granted. If the Stock Option Agreement so provides or the Committee so approves, a Nonqualified Stock Option may be transferred by a Participant to the Participant’s children, stepchildren, grandchildren, spouse, one or more trusts for the benefit of such family members or a partnership in which such family members are the only partners; provided, however, that Participant may not receive any consideration for the transfer and such transfers are limited to the extent permitted by Rule 701 of the Securities Act and, if the Option is intended to satisfy the exemption under Section 25102(o) of the California Corporations Code, Rule 260.140.41(c) of Title 10 of the California Code of Regulations. The holder of a Nonqualified Stock Option transferred pursuant to this section shall be bound by the same terms and conditions that governed the Option during the period that it was held by the Participant. Except to the extent transferability of a Nonqualified Stock Option is provided for in the Stock Option Agreement or is approved by the Committee, during the lifetime of the Participant to whom the Nonqualified Stock Option is granted, such Option may be exercised only by the Participant. No right or interest of a Participant in any Option shall be liable for, or subject to, any lien, obligation, or liability of such Participant.
F.Vesting and Termination of Continuous Service. A Stock Option Agreement may provide for rules for vesting and termination of the Option on a termination of Continuous Service. Except as provided in a Stock Option Agreement, the following rules shall apply:
i.Subject to the rules of this paragraph, Options will vest as provided in the Stock Option Agreement. An Option will be exercisable only to the extent that it is vested on the date of exercise. Vesting of an Option will cease on the date of the Participant’s termination of Continuous Service and the Option will be exercisable only to the extent the Option is vested on the date of termination of Continuous Service.
ii.If the Participant’s termination of Continuous Service is for reason of death or Disability, the right to exercise the Option (to the extent vested) will expire on the earlier of (i) the close of business at Corporation headquarters on the date that is one (1) year after the date of the Participant’s termination of Continuous Service, or (ii) the expiration date under the terms of the Agreement. Until the expiration date, the Participant’s heirs, legatees or legal representative may exercise the Option, except to the extent the Option was previously transferred pursuant to Section 6.E.

iii.If the Participant’s termination of Continuous Service is an involuntary termination without Cause or a voluntary termination (other than a voluntary termination described in Section 6.F.(iv)), the right to exercise the Option (to the extent that it is vested) will expire on the earlier of (i) the close of business at Corporation headquarters on the date that is three (3) months after the date of the Participant’s termination of Continuous Service, or (ii) the expiration date under the terms of the Agreement. If the Participant’s termination of Continuous Service is an involuntary termination without Cause or a voluntary termination (other than a voluntary termination described in Section 6.F.(iv)) and the Participant dies after his or her termination of Continuous Service but before the right to exercise the Option has expired, the right to exercise the Option (to the extent vested) shall expire on the earlier of (i) the close of business at Corporation headquarters on the date that is one (1) year after the date of the Participant’s termination of Continuous Service or (ii) the date the Option expires under the terms of the Stock Option Agreement, and, until expiration, the Participant’s heirs, legatees or legal representative may exercise the Option, except to the extent the Option was previously transferred pursuant to Section 6.E.
iv.If the Participant’s termination of Continuous Service is for Cause or is a voluntary termination at any time after an event which would be grounds for termination of the Participant’s Continuous Service for Cause, the right to exercise the Option shall expire as of the date of the Participant’s termination of Continuous Service.
G.Exercise. An Option shall be exercised by completion, execution and delivery of notice (written or electronic) to the Corporation of the Option which states (i) the Option holder’s intent to exercise the Option, (ii) the number of shares of Non-Voting Common Stock with respect to which the Option is being exercised, (iii) such other representations and agreements as may be required by the Corporation and (iv) the method for satisfying any applicable tax withholding as provided in Section 9. Such notice of exercise shall be provided on such form or by such method as the Committee may designate, and payment of the exercise price shall be made in accordance with Section 6.H. Subject to the provisions of this Plan and the applicable Stock Option Agreement, an Option may be exercised to the extent vested in whole at any time or in part from time to time at such times and in compliance with such requirements as the Committee shall determine. A partial exercise of an Option shall not affect the right to exercise the Option from time to time in accordance with this Plan and the applicable Stock Option Agreement with respect to the remaining shares subject to the Option. An Option may not be exercised with respect to fractional shares of Non-Voting Common Stock.
H.Payment. Unless otherwise provided by the Stock Option Agreement, payment of the exercise price for an Option shall be made in cash or a cash equivalent acceptable to the Committee. Payment of all or part of the exercise price of an Option may also be made, (i) with the consent of the Committee, by surrendering shares of Non-Voting Common Stock to the Corporation, (ii) with the consent of the Committee, by a full-recourse promissory note, (iii) if the Non-Voting Common Stock is traded on an established securities market, the payment of the exercise price by a broker-dealer or by the Option holder with cash advanced by the broker-dealer if the exercise notice is accompanied by the Option holder’s written irrevocable instructions to deliver the Non-Voting Common Stock acquired upon exercise of the Option to the broker-dealer, or (iv) any other method acceptable to the Committee and provided for in the Stock Option Agreement. If Non-Voting Common Stock is used to pay all or part of the exercise price, the sum of the cash or cash equivalent and the Fair Market Value (determined as of the date of exercise) of the shares surrendered must not be less than the exercise price of the shares for which the Option is being exercised. If all or part of the exercise price is to be paid with a full-recourse promissory note, the par value of the Non-Voting Common Stock, if newly issued, shall be paid in cash or cash equivalents. The shares received upon exercise of the Option shall be pledged as security for payment of the principal amount of the promissory note and interest thereon and the interest rate payable under the terms of the promissory note shall not be less than the minimum rate (if any) required to avoid the imputation of additional interest under the Code. Subject to the foregoing, the Committee (at its sole discretion) shall specify the term, interest rate, amortization requirements (if any) and other provisions of such note.

I.Buyout Provisions. The Committee may at any time offer to buy out an Option previously granted for a payment in cash, shares of Non-Voting Common Stock or other property. Such buyout offer shall be on such terms and conditions as the Committee shall determine.
J.Stockholder Rights. No Participant shall have any rights as a stockholder with respect to shares subject to an Option until the date of exercise of such Option and the certificate for shares of Non- Voting Common Stock to be received on exercise of such Option has been issued by the Corporation or the Corporation has otherwise indicated the issuance of such shares on its books and records.
K.Disposition and Stock Certificate Legends for Incentive Stock Option Shares. A Participant shall notify the Corporation of any sale or other disposition of Non-Voting Common Stock acquired pursuant to an Incentive Stock Option if such sale or disposition occurs (i) within two (2) years of the grant of an Option or (ii) within one (1) year of the issuance of the Non-Voting Common Stock to the Participant. Such notice shall be in writing and directed to the Secretary of the Corporation. The Corporation may require that certificates evidencing shares of Non-Voting Common Stock purchased upon the exercise of an Incentive Stock Option issued under the Plan (if such shares are certificated) be endorsed with a legend in substantially the following form:
THE SHARES REPRESENTED BY THIS CERTIFICATE WERE ISSUED UPON EXERCISE OF AN INCENTIVE STOCK OPTION, AND THE CORPORATION MUST BE NOTIFIED IF THE SHARES SHALL BE TRANSFERRED BEFORE THE LATER OF THE TWO
(2) YEAR ANNIVERSARY OF THE DATE OF GRANT OF THE OPTION OR THE ONE (1) YEAR ANNIVERSARY OF THE DATE ON WHICH THE OPTION WAS EXERCISED. THE REGISTERED HOLDER MAY RECOGNIZE ORDINARY INCOME IF THE SHARES ARE TRANSFERRED BEFORE SUCH DATE.
7.    STOCK AWARDS
A.Stock Bonus Awards. Each Stock Award Agreement for a Stock Bonus Award shall be in such form and shall contain such terms and conditions as the Committee shall deem appropriate. The terms and conditions of Stock Award Agreements for Stock Bonus Awards may change from time to time, and the terms and conditions of separate Stock Bonus Awards need not be identical, but each Stock Bonus Award shall include (through incorporation of the provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions:
i.Consideration. A Stock Bonus Award may be granted in consideration for past services actually rendered to the Corporation or an Affiliate for its benefit.
ii.Vesting. Shares of Non-Voting Common Stock granted under the Stock Bonus Award may, but need not, be subject to a vesting schedule and may, but need not, be subject to a share repurchase option in favor of the Corporation as determined by the Committee.
iii.Participant’s Termination of Service. In the event of a Participant’s termination of Continuous Service, the Corporation may reacquire any or all of the shares of Non-Voting Common Stock held by the Participant which have not vested as of the date of termination under the terms of the Stock Bonus Award.
iv.Transferability. Rights to acquire shares of Non-Voting Common Stock under the Stock Bonus Award shall be transferable by the Participant only upon such terms and conditions as are set forth in the Stock Award Agreement, as the Committee shall determine in its discretion, so long as Non-Voting Common Stock granted under the Stock Bonus Award remains subject to the terms of the Stock Award Agreement.

B.Restricted Stock Awards. Each Stock Award Agreement for a Restricted Stock Award shall be in such form and shall contain such terms and conditions as the Committee shall deem appropriate. The terms and conditions of the Stock Award Agreements for Restricted Stock Awards may change from time to time, and the terms and conditions of separate Restricted Stock Awards need not be identical, but each Restricted Stock Award shall include (through incorporation of the provisions hereof by references in the agreement or otherwise) the substance of each of the following provisions.
i.Purchase Price. The purchase price, if any, of a Restricted Stock Award shall be determined by the Committee.
ii.Consideration. The purchase price of Non-Voting Common Stock acquired pursuant to the Restricted Stock Award shall be paid either: (i) in cash at the time of purchase; (ii) at the discretion of the Committee, according to a deferred payment or other similar arrangement with the Participant; or (iii) in any other form of legal consideration that may be acceptable to the Committee in its discretion; provided, however, that payment of the Non-Voting Common Stock’s “par value” shall not be made by deferred payment.
iii.Vesting. Shares of Non-Voting Common Stock acquired under a Restricted Stock Award may, but need not, be subject to a share repurchase option in favor of the Corporation in accordance with a vesting schedule to be determined by the Committee.
iv.Participant’s Termination of Service. In the event of a Participant’s termination of Continuous Service, the Corporation may repurchase or otherwise reacquire any or all of the shares of Non-Voting Common Stock held by the Participant which have not vested as of the date of termination under the terms of the Stock Award Agreement for such Restricted Stock Award.
v.Transferability. Rights to acquire shares of Non-Voting Common Stock under a Restricted Stock Award shall be transferable by the Participant only upon such terms and conditions as are set forth in the Stock Award Agreement for such Restricted Stock Award, as the Committee shall determine in its discretion, so long as Non-Voting Common Stock granted under the Restricted Stock Award remains subject to the terms of the Stock Award Agreement.
C.Stock Appreciation Rights. Each Stock Award Agreement for Stock Appreciation Rights shall be in such form and shall contain such terms and conditions as the Committee shall deem appropriate. The terms and conditions of Stock Appreciation Rights may change from time to time, and the terms and conditions of separate Stock Appreciation Rights need not be identical, but each Stock Appreciation Right shall include (through incorporation of the provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions:
i.Benefit Provided. Each Stock Appreciation Right shall provide the Participant with the right to receive payment in cash of an amount equal to the difference between the Fair Market Value of the Non-Voting Common Stock as of the date of grant of the Stock Appreciation Right and the Fair Market Value of the Non-Voting Common Stock on the date of exercise of such Stock Appreciation Right. No Stock Appreciation Right shall provide the Participant with the right to receive shares of Non-Voting Common Stock upon exercise of such Stock Appreciation Right.
ii.Tandem Awards. Stock Appreciation Rights may be granted either alone or in tandem with other awards, including Options, under the Plan.
iii.Vesting. The Stock Award Agreement for a Stock Appreciation Right shall provide the vesting schedule applicable to such award.
iv.Participant’s Termination of Service. In the event of a Participant’s termination of Continuous Service, the treatment of the Stock Appreciation Right shall be as provided in the Stock Award Agreement for such Stock Appreciation Right.

v.Transferability. Rights to acquire cash or shares of Non-Voting Common Stock under a Stock Appreciation Rights shall be nontransferable except by will or by the laws of descent and distribution and during the lifetime of the Participant shall be exercisable by only the Participant to whom the Stock Appreciation Rights are granted.
D.Restricted Stock Unit Awards. Each Stock Award Agreement for a Restricted Stock Unit Award shall be in such form and shall contain such terms and conditions as the Committee shall deem appropriate.   The terms and conditions of Stock Award Agreements for Restricted Stock Unit Awards may change from time to time, and the terms and conditions of separate Restricted Stock Unit Awards need not be identical, but each Restricted Stock Unit Award shall include (through incorporation of the provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions:
i.Number of Shares; Consideration. Each Stock Award Agreement for a Restricted Stock Unit Award shall specify the number of shares of Non-Voting Common Stock that are subject to the Restricted Stock Unit Award and shall provide for the adjustment of such number in accordance with Section 8. A Restricted Stock Unit Award may be granted in consideration for services actually rendered or to be rendered to the Corporation or an Affiliate for its benefit.
ii.Vesting. Each Award of Restricted Stock Units may, but need not, be subject to a vesting schedule and may, but need not, be subject to a share repurchase option in favor of the Corporation as determined by the Committee.
iii.Settlement of Restricted Stock Units. Settlement of Restricted Stock Units shall be as provided in the Stock Award Agreement for such Restricted Stock Units. Settlement of the Restricted Stock Units may be made in the form of cash or whole shares of Non-Voting Common Stock or a combination thereof, as determined by the Committee in its sole discretion.
iv.Participant’s Termination of Service. Except as otherwise provided in the Stock Award Agreement, in the event of a Participant’s termination of Continuous Service, any Restricted Stock Units held by such Participant which have not vested as of the date of termination under the terms of the Stock Award Agreement shall be forfeited.
v.Transferability. Unless otherwise provided in the Stock Award Agreement, Restricted Stock Units may not be transferred other than by beneficiary designation, will or the laws of descent and distribution.
vi.Stockholder Rights. No Participant shall have any rights as a stockholder with respect to shares covered by a Restricted Stock Unit Award until such Participant receives such shares upon settlement of the Restricted Stock Unit Award. A Participant shall have no rights under a Restricted Stock Unit Award other than those of a general creditor of the Corporation.
E.Other Stock Awards. The Committee may grant other forms of Stock Award under the Plan that are based in whole or in part on Non-Voting Common Stock or the value thereof. Subject to the provisions of the Plan, the Committee shall have authority in its sole discretion to determine the terms and conditions of such Other Stock Awards, including the number of shares (or the cash equivalent thereof) to be granted pursuant to such Other Stock Awards.
8.    CHANGES IN CAPITAL STRUCTURE
A.No Limitations of Rights. The existence of outstanding Options or Stock Awards shall not affect in any way the right or power of the Corporation or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Corporation’s capital structure or its business, or any merger or consolidation of the Corporation, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Non-Voting Common Stock or the rights thereof, or the dissolution or liquidation of the Corporation, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

B.Changes in Capitalization. If the Corporation shall effect a subdivision, consolidation or reclassification of shares or other capital readjustment, a stock split, a reverse stock split, the payment of a dividend in stock of the Corporation, a spin-off, the payment of an extraordinary dividend or distribution in a form other than stock of the Corporation in an amount that has a material effect on the fair market value of the Non-Voting Common Stock, or other increase or reduction of the number of shares of the Non-Voting Common Stock outstanding, without receiving consideration therefore in money, services or property, then (i) the number, class, and per share price of shares of Non-Voting Common Stock subject to outstanding Options and Stock Awards hereunder and (ii) the number and class of shares then reserved for issuance under the Plan and the maximum number of shares for which awards may be granted to a Participant during a specified time period shall be appropriately and proportionately adjusted. The conversion of convertible securities of the Corporation shall not be treated as effected “without receiving consideration.” The Committee shall make such adjustments, and its determinations shall be final, binding and conclusive. Any such adjustment of an Option or Stock Award which is not subject to Section 409A of the Code shall be made in a manner which does not result in the Option or Stock Award being subject to Section 409A.
C.Merger, Consolidation, Asset Sale or Other Corporate Transaction. In the event that the Corporation is a party to a merger or other consolidation, in the event of a transaction providing for the sale of all or substantially all of the Corporation’s stock or assets, or in the event of such other corporate transaction, such as a separation or reorganization, outstanding Options and Stock Awards shall be subject to the agreement of merger, consolidation, sale or other corporate transaction. Such agreement may provide for one or more of the following: (i) the continuation of the outstanding Options and Stock Awards by the Corporation, if the Corporation is a surviving entity; (ii) the assumption of outstanding Options and Stock Awards by the surviving or successor entity or its parent; (iii) the substitution by the surviving or successor entity or its parent of options or other awards with substantially the same terms for such outstanding Options and Stock Awards; (iv) exercisability of such outstanding Options and Stock Awards to the extent vested and exercisable under the terms of the Stock Option Agreement or Stock Award Agreement (taking into account any accelerated vesting of such Options or Stock Awards in connection with such merger, consolidation, sale or other corporate transaction) followed by the cancellation of such Options or Stock Award (whether or not then exercisable); or (v) settlement of the intrinsic value of the outstanding Options and Stock Awards to the extent vested and exercisable under the terms of the Stock Option Agreement or Stock Award Agreement (taking into account any accelerated vesting of such Options or Stock Awards in connection with such merger, consolidation, sale or other corporate transaction), with payment made in cash, cash equivalents or other property as determined by the Committee (including cash, cash equivalents or other property subject to deferred vesting and delivery consistent with the vesting restrictions applicable to such Options and Stock Awards), and the cancellation of such Options and Stock Awards (whether or not then exercisable). The value of any property provided in the settlement shall be determined by the Committee, and to extent permitted under Treasury Regulation Section 1.409A-3(i)(5)(iv) or otherwise without resulting in taxation under Section 409A of the Code, the Committee may provide for the payment of the value of a cancelled Option or Stock Award to be made on a delayed basis in recognition of escrows, earn-outs, or other contingencies or holdbacks applicable to holders of Non-Voting Common Stock in connection with the transaction.   In each case, the surviving, acquiring or successor entity or its parent may choose to assume or continue only a portion of an Option or Stock Award or substitute a similar award for only a portion of an Option or Stock Award, or may assume, continue or substitute some Options or Stock Awards and not others. The actions under this paragraph shall be effected in a manner which does not result in an Option or Stock Award which is not subject to Section 409A of the Code being subject to taxation under Section 409A of the Code.
D.Limitation on Adjustment. Except as previously expressly provided, neither the issuance by the Corporation of shares of stock of any class, or securities convertible into shares of stock of any class, for cash or property, or for labor or services either upon direct sale or upon the exercise of rights or warrants to subscribe therefor, or upon conversion of shares or obligations of the Corporation convertible into such shares or other securities, nor the increase or decrease of the number of authorized shares of stock, nor the addition or deletion of classes of stock, shall affect, and no adjustment by reason thereof shall be made with respect to, the number, class or price of shares of Non-Voting Common Stock then subject to outstanding Options or Stock Awards.

9.    WITHHOLDING OF TAXES
The Corporation or an Affiliate shall have the right, before any certificate or book entry for any Non-Voting Common Stock is delivered or made, to deduct or withhold from any payment owed to a Participant any amount that is necessary in order to satisfy any withholding requirement that the Corporation or Affiliate in good faith believes is imposed upon it in connection with Federal, state, or local taxes, including transfer taxes, as a result of the issuance of, or lapse of restrictions on, such Non- Voting Common Stock, or otherwise require such Participant to make provision for payment of any such withholding amount. Subject to such conditions as may be established by the Committee, the Committee may permit a Participant to (i) have Non-Voting Common Stock otherwise issuable under an Option or Stock Award withheld to the extent necessary to comply with minimum statutory withholding rate requirements for supplemental income, (ii) tender back to the Corporation shares of Non-Voting Common Stock received pursuant to an Option or Stock Award to the extent necessary to comply with minimum statutory withholding rate requirements for supplemental income, (iii) deliver to the Corporation previously acquired Non-Voting Common Stock, (iv) have funds withheld from payments of wages, salary or other cash compensation due the Participant, or (v) pay the Corporation or its Affiliate in cash, in order to satisfy part or all of the obligations for any taxes required to be withheld or otherwise deducted and paid by the Corporation or its Affiliate with respect to the Option or Stock Award.
10.    COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES
A.General Requirements. No Option or Stock Award shall be exercisable, no Non-Voting Common Stock shall be issued, no certificates or book entries for shares of Non-Voting Common Stock shall be delivered or made, and no payment shall be made under this Plan except in compliance with all applicable federal and state laws and regulations (including, without limitation, withholding tax requirements), any listing agreement to which the Corporation is a party, and the rules of all domestic stock exchanges or quotation systems on which the Corporation’s shares may be listed. The Corporation shall have the right to rely on an opinion of its counsel as to such compliance.   Any share certificate issued to evidence Non-Voting Common Stock when a Stock Award is granted or for which an Option or Stock Award is exercised (if such shares are certificated) may bear such legends and statements as the Committee may deem advisable to assure compliance with federal and state laws and regulations. No Option or Stock Award shall be exercisable, no Stock Award shall be granted, no Non-Voting Common Stock shall be issued, no certificate or book entry for shares shall be delivered or made, and no payment shall be made under this Plan until the Corporation has obtained such consent or approval as the Committee may deem advisable from regulatory bodies having jurisdiction over such matters.
B.Voting and Dividend Rights. Except as provided in the award agreement, the holders of shares of Non-Voting Common Stock acquired under the Plan shall have the same voting, dividend and other rights as the Corporation’s other stockholders. A Stock Bonus Agreement or Restricted Stock Agreement, however, may require that the holders of shares of Non-Voting Common Stock invest any cash dividends received in additional shares of Non-Voting Common Stock. Such additional shares shall be subject to the same conditions and restrictions as the award with respect to which the dividends were paid.
C.Participant Representations. The Committee may require that a Participant, as a condition to receipt or exercise of a particular award, execute and deliver to the Corporation a written statement, in form satisfactory to the Committee, in which the Participant represents and warrants that the shares are being acquired for such person’s own account, for investment only and not with a view to the resale or distribution thereof. The Participant shall, at the request of the Committee, be required to represent and warrant in writing that any subsequent resale or distribution of shares of Non-Voting Common Stock by the Participant shall be made only pursuant to either (i) a registration statement on an appropriate form under the Securities Act of 1933, which registration statement has become effective and is current with regard to the shares being sold, or (ii) a specific exemption from the registration requirements of the Securities Act of 1933, but in claiming such exemption the Participant shall, prior to any offer of sale or sale of such shares, obtain a prior favorable written opinion of counsel, in form and substance satisfactory to counsel for the Corporation, as to the application of such exemption thereto.

D.Foreign Participants.   In order to facilitate the making of any award or combination of awards under the Plan, the Committee may provide for such special terms for awards to Participants who are foreign nationals, or who are employed by the Company or any Affiliate outside of the United States, as the Committee 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, including "sub-plans" to 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 that no such supplements, amendments, restatements, alternative versions or sub-plans shall include any provisions that are inconsistent with the Plan, unless the Plan may be amended to eliminate such inconsistency without further approval by the stockholders of the Company.
11.    GENERAL PROVISIONS
A.Effect on Employment and Service. Neither the adoption of this Plan, its operation, nor any documents describing or referring to this Plan (or any part thereof) shall (i) confer upon any individual any right to continue in the employ or service of the Corporation or an Affiliate, (ii) in any way affect any right and power of the Corporation or an Affiliate to change an individual’s duties or terminate the employment or service of any individual at any time with or without assigning a reason therefor or (iii) except to the extent the Committee grants an Option or Stock Award to such individual, confer on any individual the right to participate in the benefits of the Plan.
B.Use of Proceeds. The proceeds received by the Corporation from the sale of Non-Voting Common Stock pursuant to this Plan shall be used for general corporate purposes.
C.Unfunded Plan. The Plan, insofar as it provides for grants, shall be unfunded, and the Corporation shall not be required to segregate any assets that may at any time be represented by grants under this Plan. Any liability of the Corporation to any person with respect to any grant under this Plan shall be based solely upon any contractual obligations that may be created pursuant to this Plan. No such obligation of the Corporation shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Corporation.
D.409A Compliance. It is the intent of the Corporation that all awards under the Plan that constitute “nonqualified deferred compensation” within the meaning of Code Section 409A will satisfy the requirements of that section, and that all awards under the Plan that can qualify for an exemption from the definition of “nonqualified deferred compensation” under that section, including but not limited to Options, Stock Appreciation Rights and Restricted Stock Awards, will do so unless the Committee has determined otherwise. Accordingly, the terms of the Plan and Award Agreements shall be interpreted in a manner consistent with Code Section 409A and regulations thereunder.
E.Rules of Construction. Headings are given to the Sections of this Plan solely as a convenience to facilitate reference, and shall not be used in interpreting, construing or enforcing any provision hereof. The reference to any statute, regulation, or other provision of law shall be construed to refer to any amendment to or successor of such provision of law.
F.Choice of Law. The Plan and, except to the extent that a Stock Option Agreement or Stock Award Agreement otherwise provides, all Stock Option Agreements and Stock Award Agreements entered into under the Plan shall be governed by and interpreted under the laws of the state of incorporation of Corporation excluding (to the greatest extent permissible by law) any rule of law that would cause the application of the laws of any jurisdiction other than the laws of the jurisdiction of incorporation of the Corporation.

12.    AMENDMENT AND TERMINATION
The Board may amend or terminate this Plan from time to time; provided, however, that stockholder approval shall be required for any amendment that (i) increases the aggregate number of shares of Non-Voting Common Stock that may be issued under the Plan or (ii) changes the class of employees eligible to receive Incentive Stock Options,   Except as specifically permitted by the Plan, Stock Option Agreement or Stock Award Agreement or as required to comply with any applicable law, regulation or rule, no amendment shall, without a Participant’s consent, adversely affect any rights of
such Participant under any Option or Stock Award outstanding at the time such amendment is made; provided, however, that an amendment that may cause an Incentive Stock Option to become a Nonqualified Stock Option, and any amendment that is required to comply with the rules applicable to Incentive Stock Options, shall not be treated as adversely affecting the rights of the Participant. Stockholder approval shall also be required for any amendment if such approval is required by the terms of any applicable law, regulation, or rule, including, without limitation, any stock market or securities on which the Non-Voting Common Stock is publicly traded. Each such amendment shall be subject to the approval of the stockholders of the Corporation within twelve (12) months of the date such amendment is adopted by the Board.
13.    EFFECTIVE DATE OF PLAN AND DURATION OF PLAN
A.The Plan shall become effective as of    , 2017 upon adoption by the Board, subject to approval within twelve (12) months by the stockholders holding of a majority of the voting power of shares of the Corporation entitled to vote thereon. Unless and until the plan has been approved by the stockholders of the Corporation, no Option or Stock Award may be exercised, and no shares of Non- Voting Common Stock may be issued under the Plan. In the event that the stockholders of the Corporation shall not approve the Plan within such twelve (12) month period, the Plan and any previously granted Option or Stock Award shall terminate.
B.Unless previously terminated, the Plan will terminate ten (10) years after the earlier of (i) the date the Plan is adopted by the Board, or (ii) the date the Plan is approved by the stockholders, except that Options and Stock Awards that are granted under the Plan prior to its termination will continue to be administered under the terms of the Plan until the Options and Stock Awards terminate or are exercised.
Certification
The undersigned, Edward C Mock, Secretary of DOSH Holdings, Inc. (the “Corporation”) hereby certifies that the attached copy of the DOSH Holdings, Inc. 2017 Stock Incentive Plan (the “Plan”) is a true and correct copy of the Plan as adopted by the Board of Directors of the Corporation on August 24, 2017.
									
			DOSH Holdings, Inc.
			/s/ Edward C. Mock
			Edward C. Mock
			Secretary

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