Document:

Document

Exhibit 10.20

Employee Confidentiality, Assignment and Nonsolicitation Agreement
In consideration and as a condition of the commencement of my employment or my continued employment by Prime Medicine, Inc. (including its subsidiaries and other affiliates and its and their successors and assigns, the “Company”), I enter into this Employee Confidentiality, Assignment and Nonsolicitation Agreement (the “Agreement”) and agree as follows:
1.  Proprietary Information.  I agree that all information, whether or not in writing, concerning the Company’s business, technology, business relationships or financial affairs that the Company has not released to the general public (collectively, “Proprietary Information”) and all tangible embodiments thereof are and will be the exclusive property of the Company.  By way of illustration, Proprietary Information may include information or material that has not been made generally available to the public, such as:  (a) corporate information, including plans, strategies, methods, policies, resolutions, negotiations or litigation; (b) marketing information, including strategies, methods, customer or business partner identities or other information about customers, business partners, prospect identities or other information about prospects, or market analyses or projections; (c) financial information, including cost and performance data, debt arrangements, equity structure, investors and holdings, purchasing and sales data and price lists; (d) operational and technological or scientific information, including plans, specifications, manuals, forms, templates, software, pre-clinical and clinical testing data and strategies, research and development strategies, designs, methods, procedures, formulae, data, reports, discoveries, inventions, improvements, concepts, ideas, and other Developments (as defined below), know-how and trade secrets; and (e) personnel information, including personnel lists, reporting or organizational structure, resumes, personnel data, performance evaluations and termination arrangements or documents.  By way of further illustration, Proprietary Information does not include any information or material that I knew prior to the commencement of my service at the Company, whether as an employee or as a consultant, as evidenced by tangible and contemporaneous record (such excluded information, “Excluded Information”).  Proprietary Information also includes information received in confidence by the Company from its customers, suppliers, business partners or other third parties except Excluded Information.
2.  Recognition of Company’s Rights.  I will not, at any time, without the Company’s prior written permission, either during or after my employment, disclose any Proprietary Information to anyone outside of the Company except in the good faith performance of my duties to the Company as directed by the Chief Executive Officer of the Company (the “CEO”) or another duly authorized officer of the Company, or use or permit to be used any Proprietary Information for any purpose other than the performance of my duties as an employee of the Company.  I will reasonably cooperate with the Company and use reasonable efforts at Company’s expense to prevent the unauthorized disclosure of all Proprietary Information.  I will deliver to the Company all copies and other tangible embodiments of Proprietary Information in my possession or control upon the earlier of a request by the Company or termination of my employment.
3.  Rights of Others.  I understand that the Company is now and may hereafter be subject to nondisclosure or confidentiality agreements with third persons that require the Company to protect or refrain from use or disclosure of proprietary information.  I agree to be bound by the terms of such agreements in the event I have access to such proprietary information to the extent that they do not conflict with the provisions hereof with respect to what constitutes Proprietary Information and are otherwise reasonable in their terms.  I understand that the Company strictly prohibits me from using or disclosing confidential or proprietary information that I know or believe to belong to any other person or entity (including any employer or former employer), in connection with my employment consistent with the provisions hereof with respect to what constitutes Proprietary Information.  In addition, I agree not to bring any confidential information that I know or believe to belong to any other person or entity onto Company premises or into Company workspaces.
4.  Commitment to Company; Avoidance of Conflict of Interest.  Subject to the terms of my offer letter with the Company, while an employee of the Company, I will devote my full-time efforts to the Company’s business and I will not, directly or indirectly, engage in any other business activity, except as expressly authorized in writing and in advance by the CEO.  I will advise the CEO at such time as any activity of either the Company or another business presents me with a conflict of interest or the appearance of a conflict of interest as an employee of the Company.  I 

will take whatever reasonable action is requested of me by the Company to resolve any conflict or appearance of conflict which it finds to exist.
5.  Developments.  I will make full and prompt disclosure to the Company of all inventions, discoveries, designs, developments, methods, modifications, improvements, processes, algorithms, data, databases, computer programs, research, formulae, techniques, trade secrets, graphics or images, and audio or visual works and other works of authorship, and other intellectual property, including works-in-process (collectively “Developments”) whether or not patentable or copyrightable, that are created, made, conceived or reduced to practice by me (alone or jointly with others) or under my direction during the period of my employment.  I acknowledge that all work performed by me is on a “work for hire” basis, and I hereby do assign and transfer and, to the extent any such assignment cannot be made at present, will assign and transfer, to the Company and its successors and assigns all my right, title and interest in and to all Developments that (a) relate to the business of the Company or any of the products or services being researched, developed, manufactured or sold by the Company or which may be used with such products or services; or (b) result from tasks assigned to me by the Company; or (c) result from the use of premises or personal property (whether tangible or intangible) owned, leased or contracted for by the Company (“Company-Related Developments”), and all related patents, patent applications, trademarks and trademark applications, copyrights and copyright applications, sui generis database rights and other intellectual property rights in all countries and territories worldwide and under any international conventions (“Intellectual Property Rights”).
To preclude any possible uncertainty, if there are any Developments that I have, alone or jointly with others, conceived, developed or reduced to practice prior to the commencement of my employment with the Company that I consider to be my property or the property of third parties and that I wish to have excluded from the scope of this Agreement (“Prior Inventions”), I have set forth on Exhibit A attached hereto a complete list of those Prior Inventions.  If disclosure of any such Prior Invention would cause me to violate any prior confidentiality agreement, I understand that I am not to list such Prior Inventions in Exhibit A but am only to disclose a cursory name for each such invention, a listing of the party(ies) to whom it belongs and the fact that full disclosure as to such inventions has not been made for that reason.  If there are any patents or patent applications in which I am named as an inventor, other than those that have been assigned to the Company (“Other Patent Rights”), I have also listed those Other Patent Rights on Exhibit A.  If no such disclosure is attached, I represent that there are no Prior Inventions or Other Patent Rights.  If, in the course of my employment with the Company, I incorporate a Prior Invention into a Company product, process or machine, research or development program, or other work done for the Company, I hereby grant to the Company a nonexclusive, royalty-free, fully paid-up, irrevocable, worldwide license (with the full right to sublicense through multiple tiers) to make, have made, modify, use, sell, offer for sale and import such Prior Invention.  Notwithstanding the foregoing, I will not incorporate, or permit to be incorporated, Prior Inventions in any Company-Related Development without the Company’s prior written consent.
This Agreement does not obligate me to assign to the Company any Development that, in the sole judgment of the Company, reasonably exercised, is developed entirely on my own time and does not relate to the business efforts or research and development efforts in which, during the period of my employment, the Company actually is engaged or reasonably would be engaged, and does not result from the use of premises or equipment owned or leased by the Company.  However, I will also promptly disclose to the Company any such Developments for the purpose of determining whether they qualify for such exclusion.  I understand that to the extent this Agreement is required to be construed in accordance with the laws of any state which precludes a requirement in an employee agreement to assign certain classes of inventions made by an employee, this Section 5 will be interpreted not to apply to any invention that a court rules and/or the Company agrees falls within such classes.  I also hereby waive all claims to any moral rights or other special rights that I may have or accrue in any Company-Related Developments.
6.  Documents and Other Materials.  I will keep and maintain adequate and current records of all Proprietary Information and Company-Related Developments developed by me during my employment, which records will be available to and remain the sole property of the Company at all times.
All files, letters, notes, memoranda, reports, records, data, sketches, drawings, notebooks, layouts, charts, quotations and proposals, specification sheets, blueprints, models, prototypes, or other written, photographic or other tangible material containing Proprietary Information, whether created by me or others, which come into my custody or 

possession, are the exclusive property of the Company to be used by me only in the performance of my duties for the Company.  Any property situated on the Company’s premises and owned by the Company, including without limitation computers, disks and other storage media, filing cabinets or other work areas, is subject to inspection by the Company at any time with or without notice.  In the event of the termination of my employment for any reason, I will deliver to the Company all Company property and equipment in my possession, custody or control, including all files, letters, notes, memoranda, reports, records, data, sketches, drawings, notebooks, layouts, charts, quotations and proposals, specification sheets, blueprints, models, prototypes, or other written, photographic or other tangible material containing Proprietary Information, and other materials of any nature pertaining to the Proprietary Information of the Company and to my work, and will not take or keep in my possession any of the foregoing or any copies.
7.  Enforcement of Intellectual Property Rights.  I will cooperate fully with the Company, at Company’s expense, both during and after my employment with the Company, with respect to the procurement, maintenance and enforcement of Intellectual Property Rights in Company-Related Developments.  I will sign, both during and after my employment, all papers, including without limitation copyright applications, patent applications, declarations, oaths, assignments of priority rights, and powers of attorney, which the Company may deem necessary or desirable in order to protect its rights and interests in any Company-Related Development or Intellectual Property Rights therein, subject to the provisions and statements in such documents being acceptable to me.
8.  Nonsolicitation.
In order to protect the Company’s Proprietary Information and goodwill, during my employment and for a period of:  (i) one (1) year following the date of the cessation of my employment with the Company (the “Last Date of Employment”), or (ii) two (2) years following the Last Date of Employment if a court of competent jurisdiction determines that I have breached my fiduciary duty to the Company or if I have unlawfully taken, physically or electronically, property belonging to the Company (in either case the “Restricted Period”):
(a)    I shall not, directly or indirectly, in any manner, other than for the benefit of the Company, solicit or transact any business with any of the customers of the Company or any of its vendors.  For purposes of this Agreement, (i) customers shall include then current customers to which the Company provided products or services during the twelve months prior to the Last Date of Employment (the “One Year Lookback”) and customer prospects that the Company solicited during the One Year Lookback and that I had significant contact with or learned confidential information about in the course of my employment, and (ii) vendors shall include then current vendors and vendors that provided services to or in connection with the Company during the One Year Lookback.
(b)    I shall not, directly or indirectly, in any manner, solicit, entice or attempt to persuade any employee or consultant of the Company to leave the Company for any reason or otherwise participate in or facilitate the hire, directly or through another entity, of any person who is then employed or engaged by the Company.
9.  Government Contracts.  I acknowledge that the Company may have from time to time agreements with other persons or with the United States Government or its agencies that impose obligations or restrictions on the Company regarding inventions made during the course of work under such agreements or regarding the confidential nature of such work.  I agree to comply with any such obligations or restrictions upon the direction of the Company.  In addition to the rights assigned under Section 5, I also assign to the Company (or any of its nominees) all rights that I have or acquired in any Developments, full title to which is required to be in the United States under any contract between the Company and the United States or any of its agencies.
10.  Prior Agreements.  I hereby represent that, except as I have fully disclosed previously in writing to the Company, I am not bound by the terms of any agreement with any previous or current employer or other party to refrain from using or disclosing any trade secret or confidential or proprietary information in the course of my employment with the Company or to refrain from competing, directly or indirectly, with the business of such employer or any other party.  I further represent that my performance of all the terms of this Agreement as an employee of the Company does not and will not breach any agreement to keep in confidence proprietary information, knowledge or data acquired by me in confidence or in trust prior to my employment with the Company.  

I will not disclose to the Company or induce the Company to use any confidential or proprietary information or material belonging to any previous employer or others.
11.  Remedies Upon Breach.  I understand that the restrictions contained in this Agreement are necessary for the protection of the business and goodwill of the Company and I consider them to be reasonable for such purpose.  Any breach of this Agreement is likely to cause the Company substantial and irrevocable damage and therefore, in the event of such breach, the Company, in addition to such other remedies which may be available, will be entitled to specific performance and other injunctive relief, without the posting of a bond.  I further acknowledge that a court may render an award extending the Restricted Period as one of the remedies in the event of my violation of this Agreement.  In the event that Company seeks injunctive relief, Company shall provide me at least five business days advance written notice of any hearing.  Such notice shall include copies of any court filings and be by overnight delivery service at my personal address, and also by email.
12.  Use of Voice, Image and Likeness.  I give the Company permission to use any and all of my voice, image and likeness, with or without using my name, in connection with the products and/or services of the Company, for the purposes of advertising and promoting such products and/or services and/or the Company, and/or for other purposes deemed appropriate by the Company in its reasonable discretion, except to the extent prohibited by law.
13.  No Employment Obligation.  I understand that this Agreement does not create an obligation on the Company or any other person to continue my employment.  I acknowledge that, unless otherwise agreed in a formal written employment agreement signed on behalf of the Company by CEO or another duly authorized officer of the Company, my employment with the Company is at will and therefore may be terminated by the Company or me at any time and for any reason, with or without cause.
14.  Survival and Assignment by the Company.  I understand that my obligations under this Agreement will continue in accordance with its express terms regardless of any changes in my title, position, duties, salary, compensation or benefits or other terms and conditions of employment.  I further understand that my obligations under this Agreement will continue following the termination of my employment regardless of the manner of such termination and will be binding upon my heirs, executors and administrators.  The Company will have the right to assign this Agreement to its affiliates, successors and assigns.  I expressly consent to be bound by the provisions of this Agreement for the benefit of the Company or any parent, subsidiary or affiliate to whose employ I may be transferred without the necessity that this Agreement be resigned at the time of such transfer.
15.  Post-Employment Notifications.  During the Restricted Period, I will notify the Company of any change in my address and of each subsequent employment or business activity, including the name and address of my employer or other post-Company employment plans and the nature of my activities.
16.  Disclosures During Restricted Period.  I will provide a copy of this Agreement to any person or entity with whom I may enter into a business relationship, whether as an employee, consultant, partner, coventurer or otherwise, prior to entering into such business relationship during the Restricted Period.
17.  Severability.  In case any provisions (or portions thereof) contained in this Agreement shall, for any reason, be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.  If, moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing it, so as to be enforceable to the extent compatible with the applicable law as it shall then appear.
18.  Waiver.  I acknowledge and agree that no waiver of any of my obligations under this Agreement shall be effective unless made in writing by the Company.  The failure of the Company to require my performance of any term or obligation of this Agreement, or the waiver of any breach of this Agreement, shall not prevent the Company’s subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

19.  Choice of Law and Jurisdiction.  This Agreement will be deemed to be made and entered into in the Commonwealth of Massachusetts, and will in all respects be interpreted, enforced and governed under the laws of the Commonwealth of Massachusetts.  I hereby consent to personal jurisdiction of the state and federal courts situated within Massachusetts for purposes of enforcing this Agreement, and waive any objection that I might have to personal jurisdiction or venue in those courts.
20.  Protected Disclosures.  I understand that nothing contained in this Agreement limits my ability to communicate with any federal, state or local governmental agency or commission or if required pursuant to applicable law, court order or subpoena, including to provide documents or other information, without notice to the Company.  I also understand that nothing in this Agreement limits my ability to share compensation information concerning myself or others, except that this does not permit me to disclose compensation information concerning others that I obtain because my job responsibilities require or allow access to such information.  Nothing in this Agreement prohibits me from providing documents or truthful testimony to the minimum extent reasonably necessary in pursuing or defending against any claim pursuant to any litigation or arbitration between me and the Company or any of its affiliates.
21.  Defend Trade Secrets Act of 2016.  I understand that pursuant to the federal Defend Trade Secrets Act of 2016, I shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.
22.  Entire Agreement; Amendment.  This Agreement constitutes the entire agreement between the Company and me with respect to the subject matter hereof, and supersedes all prior agreements or understandings, both written and oral, between the Company and me with respect to the subject matter hereof, but does not in any way merge with or supersede any other confidentiality, assignment of inventions or other restrictive covenant agreement or obligation entered into by the Company and me, which agreements and obligations shall supplement, and shall not limit or be limited by, this Agreement.  This Agreement may be amended only in a written agreement executed by the CEO or another duly authorized officer of the Company and me.
[Remainder of Page Intentionally Left Blank]

I UNDERSTAND THAT THIS AGREEMENT AFFECTS IMPORTANT RIGHTS.  BY SIGNING BELOW, I CERTIFY THAT I HAVE READ IT CAREFULLY AND AM SATISFIED THAT I UNDERSTAND IT COMPLETELY.
IN WITNESS WHEREOF, the undersigned has executed this agreement as a sealed instrument as of the date set forth below.
			
	Signed:  /s/ Andrew Anzalone
	
	Type or print name:  Andrew Anzalone
	
	Date:  10/26/2020

EXHIBIT A
						
	To:	PRIME MEDICINE, INC.
		
	From:	Andrew Anzalone
		Print Employee Name
		
	Date:	10/26/2020

SUBJECT:    Prior Inventions
The following is a complete list of all inventions or improvements relevant to the subject matter of my employment by the Company that have been made or conceived or first reduced to practice by me alone or jointly with others prior to my engagement by the Company:
									
	☐	No inventions or improvements	
	☒	See below:	
		Prime editing patents from the Broad Institute	
			
			
	☐	Additional sheets attached	
	The following is a list of all patents and patent applications in which I have been named as an inventor:
	☐	None	
	☒	See below:	
		Prime editing patents from the Broad InstituteExhibit 10.1

 

AMENDED AND RESTATED

LUOKUNG TECHNOLOGY CORP.

2018 OMNIBUS EQUITY PLAN

 

ARTICLE 1

GENERAL PROVISIONS

 

1.1.
PURPOSE OF THE PLAN.

 

The Amended and Restated Luokung Technology Corp.
2018 Omnibus Equity Plan has been established by Luokung Technology Corp. to (a) attract and retain high caliber employees, directors,
consultants and independent contractors; (b) motivate Participants, by means of appropriate incentives, to achieve long-range goals; (c)
provide incentive compensation opportunities that are competitive with those of other similarly-situated companies; and (d) further align
Participants’ interests with those of the Corporation’s shareholders through compensation that is based on the Corporation’s
ordinary shares; and thereby promote the long-term financial interest of the Corporation, including the growth in value of the Corporation’s
equity and enhancement of long-term shareholder return.

 

Capitalized terms shall have the meanings assigned
to such terms in Section 9 of the Plan.

 

1.2.
TYPES OF AWARDS AVAILABLE UNDER THE PLAN.

 

The Plan provides for five types of Awards:

 

Options - the Option
Grant Program under which Eligible Persons may be granted Incentive Stock Options or Non-Statutory Stock Options to purchase
Shares is set forth in Article 2;

 

Stock Appreciation Rights -
the Stock Appreciation Rights Program under which Eligible Persons may be granted a right to receive the appreciation
in the Fair Market Value of Shares in the form of cash or Shares is set forth in Article 3;

 

Restricted Stock -
the Restricted Stock Program under which Eligible Persons may be issued Shares or Preferred Shares, subject to certain
conditions and restrictions, is set forth in Article 4;

 

Unrestricted Stock: the Unrestricted
Stock Program under which Eligible Persons may be issued Shares or Preferred Shares, is set forth in Article 5; and

 

Restricted Stock Units -
the Restricted Stock Unit Program under which Eligible Persons may be granted a right to receive Shares upon the satisfaction
of certain conditions and restrictions is set forth in Article 6.

 

The provisions of Articles 1, 7
(to the extent applicable), 8 and 9 apply to each type of Award made under the Plan and govern the interests of all persons
under the Plan.

 

1.3.
ADMINISTRATION OF THE PLAN.

 

	(a)	General Administration. The Plan shall be administered and interpreted by the Committee (as designated pursuant to Paragraph 1.3 (b)). Subject to the express provisions of the Plan, the Committee shall have authority to interpret the Plan, to prescribe, amend and rescind rules and regulations relating to the Plan, to determine the terms and provisions of the Award Agreements by which Awards shall be evidenced (which shall not be inconsistent with the terms of the Plan), and to make all other determinations necessary or advisable for the administration of the Plan, all of which determinations shall be final, binding and conclusive.

 

     

     

    

 

	(b)	Appointment of Committee. The Board shall appoint the Committee from among its nonemployee directors to serve at the pleasure of the Board. The Board from time to time may remove members from, or add members to, the Committee and shall fill all vacancies thereon. The Committee at all times shall be composed of two or more nonemployee directors who shall meet all of the following requirements:

 

	 	(i)	Disinterested Administration for Rule 16b-3 Exemption. During the period any director is serving on the Committee, he shall (A) not be an officer of the Corporation or a director or officer of a parent or subsidiary of the Corporation, or otherwise currently employed by the Corporation or a parent or subsidiary of the Corporation; (B) not receive compensation, either directly or indirectly, from the Corporation or a parent or subsidiary of the Corporation for services rendered as a consultant or in any capacity other than as a director, except for an amount that does not exceed the dollar amount for which disclosure would be required pursuant to Rule 404(a) of the Securities Exchange Act of 1934; (C) not possess an interest in any other transaction for which disclosure would be required pursuant to Rule 404(a) of the Securities Exchange Act of 1934; and (D) not be engaged in a business relationship for which disclosure would be required pursuant to Rule 404(b) of the Securities Exchange Act of 1934. The requirements of this subsection are intended to comply with Rule 16b-3 under Section 16 of the Securities Exchange Act of 1934, and shall be interpreted and construed in a manner which assures compliance with said Rule 16b-3. To the extent said Rule 16b-3 is modified to reduce or increase the restrictions on who may serve on the Committee, the Plan shall be deemed modified in a similar manner; 

 

	 	(ii)	Reserved; and

 

	 	(iii)	Independent Director Rule for Stock Exchange. During the period any director is serving on the Committee, he shall satisfy all requirements to qualify as an independent director for purposes of the rules of the exchange on which the Stock is traded.

 

	(c)	Organization. The Committee may select one of its members as its chairman and shall hold its meetings at such times and at such places as it shall deem advisable. A majority of the Committee shall constitute a quorum. Actions may be taken by a majority of the Committee at a meeting or by unanimous written consent of all Committee members in lieu of a meeting. The Committee shall keep minutes of its proceedings and shall report the same to the Board at the next succeeding meeting of the Board.

 

	(d)	Powers of Committee. The Committee may make one
    or more Awards under the Plan to a Participant. The Committee shall decide which Eligible Persons shall receive an Award and when to
    grant an Award, the type of Award that it shall grant and the number of Shares covered by the Award. The Committee shall also decide
    the terms, conditions, performance criteria, restrictions and other provisions of the Award. The Committee may grant a single Award
    or an Award in combination with another Award(s) to a Participant. The Committee may grant an Award as an alternate to or
    replacement of an existing Award under the Plan or award under any other compensation plan or arrangement of the Corporation or a
    Related Corporation, including a plan of any entity acquired by the Corporation or a Related Corporation, upon the cancellation of
    the existing award; provided, that such grant of an alternate or replacement Award may be made only if the alternate or
    replacement Award does not constitute a repricing of the existing award (as limited by Section 1.5(c) of the Plan). In making Award
    decisions, the Committee may take into account the nature of services rendered by the individual, the individual’s present and
    potential contribution to the Corporation’s success and such other factors as the Committee, in its sole discretion, deems
    relevant. 

 

	The Committee shall interpret the Plan, establish and rescind any rules and regulations relating to the Plan, decide the terms and provisions of any Award Agreements made under the Plan, and determine how to administer the Plan. The Committee also shall decide administrative methods for the exercise of Stock Options. Each Committee decision shall be final, conclusive and binding on all parties.

 

	(e)	Delegation by Committee. Unless prohibited by applicable law or the applicable rules of a stock exchange, the Committee may allocate all or some of its responsibilities and powers to any one or more of its members. The Committee also may delegate some or all of it administrative duties and powers to any Employee, including officers.

 

    2

     

    

 

	(f)	Information to be Furnished to Committee. The records of the Corporation and Related Corporations as to an Eligible Person’s or Participant’s employment, termination of employment, performance of Services, termination of Services, leave of absence, reemployment and compensation shall be conclusive on all persons unless determined to be manifestly incorrect. Participants and other persons entitled to benefits under the Plan must, as a condition to the receipt or settlement of any Award hereunder, furnish the Committee with such evidence, data or information as the Committee reasonably considers desirable to carry out the terms of the Plan.

 

	(g)	Indemnification. In addition to such other rights of indemnification that they have as members of the Board or the Committee, the Corporation shall indemnify the members of the Committee (and any designees of the Committee, as permitted under Paragraph (e)), to the fullest extent permitted by applicable law, against reasonable expenses (including, without limitation, attorney’s fees) actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan or any Award awarded hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved to the extent required by and in the manner provided by the articles of incorporation of the Corporation relating to indemnification of the members of the Board) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except in relation to such matters as to which it is adjudged in such action, suit or proceeding that such Committee member or members (or their designees) did not act in good faith and in a manner reasonably believed to be in or not opposed to the best interests of the Corporation.

 

1.4.
ELIGIBILITY.

 

The persons eligible to participate in this Plan
(“Eligible Persons”) are as follows:

 

	(a)	Employees. Employees (including Employees who are members of the Board and Employees who reside in countries other than the United States), provided that awards of Incentive Stock Options shall only be made to Employees.

 

	(b)	Outside Directors. Non-Employee members of the Board or the board of directors of any Related Corporation.

 

	(c)	Consultants. Other consultants and independent advisors who provide bona-fide services to the Corporation (or any Related Corporation).

 

	(d)	New Hires. Persons who have been offered employment by the Corporation or a Related Corporation, provided that such a prospective Employee may not be granted an Incentive Stock Option until he or she becomes an Employee and may not receive any payment or exercise any right relating to an Award until such person begins employment with the Corporation or the Related Corporation.

 

1.5
STOCK SUBJECT TO THE PLAN.

 

	(a)	Shares Available for Issuance.

 

    3

     

    

 

	 	(i)	
    Plan Securities’ Reserve.

     

    The Ordinary Shares issuable under the Plan shall
    be authorized but unissued Ordinary Shares, including Ordinary Shares repurchased by the Corporation and held by the Corporation as treasury
    shares. The maximum number of Ordinary Shares available for issuance under the Plan shall be 72,480,000 Ordinary Shares, all of which
    may be issued as Awards, including, but not limited to, Incentive Stock Options.

     

    The Preferred Shares issuable under the Plan
    shall be authorized but unissued Preferred Shares, including Preferred Shares repurchased by the Corporation and held by the
    Corporation as treasury shares. The maximum number of Preferred Shares available for issuance under the Plan shall be 4,000,000
    shares, all of which may only be issued as Awards under Restricted Stock Program under Article 4 hereto and Unrestricted Stock
    Program under Article 5 hereto.

     

	 	(ii)	
    Share Use. Any Shares and/or Preferred
Shares (collectively “Plan Securities”) granted under the Plan that are forfeited because of the failure to meet an Award
contingency or condition shall again be available for issuance pursuant to new Awards granted under the Plan. To the extent any Plan
Securities covered by an Award are not delivered to a Participant or beneficiary because the Award is forfeited or canceled, or the Plan
Securities are not delivered because the Award is settled in cash, such Plan Securities shall not be deemed to have been delivered for
purposes of determining the maximum number of Plan Securities available for issuance under the Plan. However, should the Exercise Price
of an Option under the Plan be paid with Plan Securities or should Plan Securities otherwise issuable under the Plan be withheld by the
Corporation in satisfaction of the withholding taxes incurred in connection with the exercise or vesting of an Award under the Plan,
then such number of Plan Securities shall be treated for purposes of this Paragraph as having been issued to the holder. Notwithstanding
the above, the total number of Shares underlying a SAR granted under the Plan that is settled in Shares shall not be available for subsequent
issuance under the Plan regardless of the number of Shares used to settle the SAR.

 

	(b)	Adjustment to Shares and Awards. 

 

	 	(i)	Recapitalization. If the Corporation is involved in a corporate transaction or any other event which affects the Plan Securities (including, without limitation, any recapitalization, reclassification, reverse or forward share split, share dividend, extraordinary cash dividend, split-up, spin-off, combination or exchange of shares), then the Committee shall adjust Awards to preserve the benefits or potential benefits of the Awards as follows:

 

	 	(1)	The Committee shall take action to adjust the number and kind of Plan Securities that are issuable under the Plan and the maximum limits for each type of grant;

 

	 	(2)	The Committee shall take action to adjust the number and kind of Plan Securities subject to outstanding Awards;

 

	 	(3)	The Committee shall take action to adjust the Exercise Price or base price of outstanding Options and Stock Appreciation Rights; and

 

	 	(4)	The Committee shall make any other equitable adjustments.

 

Only whole Plan Securities shall be issued
in making the above adjustments. Further, the number of Plan Securities available under the Plan or the number of Plan Securities subject
to any outstanding Awards shall be the next lower number of Plan Securities, so that fractions are rounded upward. Any adjustment to or
assumption of ISOs under this Section shall be made in accordance with Code §424. If the Corporation issues any rights to subscribe
for additional Plan Securities pro rata to holders of outstanding Plan Securities of the class or classes of shares then set aside for
the Plan, then each Participant shall be entitled to the same rights on the same basis as holders of outstanding Plan Securities with
respect to such portion of the Participant’s Award as is
exercised on or prior to the record date for determining shareholders entitled to receive or exercise such rights.

 

    4

     

    

 

	 	(ii)	Reorganization. If the Corporation is part of any reorganization involving merger, consolidation, acquisition of the Plan Securities or acquisition of the assets of the Corporation, the Committee, in its discretion, may decide that:

 

	 	(1)	any or all outstanding Awards shall pertain to and apply, with appropriate adjustment as determined by the Committee, to the securities of the resulting corporation to which a holder of the number of Plan Securities subject to each such Award would have been entitled;

 

	 	(2)	any or all outstanding Options or SARs shall become immediately fully exercisable (to the extent permitted under federal or state securities laws) and shall remain exercisable for the remaining term of the Options or SARs under the terms of the Plan;

 

	 	(3)	any or all Options or SARs shall become immediately fully exercisable (to the extent permitted under federal or state securities laws) and shall be terminated after giving at least 30 days’ notice to the Participants to whom such Options or SARs have been granted; and/or

 

	 	(4)	any or all unvested Restricted Stock Units AND Restricted Stock on which restrictions have not yet lapsed shall become immediately fully vested, nonforfeitable and payable.

 

	 	(iii)	Limits on Adjustments. Any issuance by the Corporation of shares of any class other than the Stock, or securities convertible into shares of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or price of Plan Securities subject to any Award, except as specifically provided otherwise in this Plan. The grant of Awards under the Plan shall not affect in any way the right or authority of the Corporation to make adjustments, reclassifications, reorganizations or changes of its capital or business structure or to merge, consolidate or dissolve, or to liquidate, sell or transfer all or any part of its business or assets. All adjustments the Committee makes under this Plan shall be conclusive.

 

	(c)	No Repricing. Except in connection with a corporate transaction involving the Corporation (including, without limitation, any share dividend, share split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of Plan Securities), the terms of outstanding Awards may not be amended to reduce the Exercise Price of outstanding Options or the base price of SARs or to cancel outstanding Options or SARS in exchange for cash, other awards or Options or SARs with an Exercise Price or base price that is less than the Exercise Price of the original Options or base price of the original SARs without shareholder approval.

 

    5

     

    

 

ARTICLE 2

OPTION GRANT PROGRAM

 

2.1
TERMS.

 

The grant of an Option entitles the Participant
to purchase the number of Shares designated in the Award Agreement for such Option at an Exercise Price established by the Committee.
Options may be either Incentive Stock Options or Non-Statutory Stock Options, as determined in the discretion of the Committee. Each Option
shall be evidenced by and conditional on an Award Agreement in the form approved by the Committee, which Award Agreement shall specify
whether the Option is an ISO or NSO. No ISO may be granted to any person more than ten (10) years after the Effective Date of the Plan.
Award Agreements need not be identical, but shall include (through incorporation of provisions hereof, by reference in the Award Agreements,
or otherwise) the terms specified below and be subject to the provisions of the Plan applicable to such Options.

 

To the extent that the aggregate Fair Market Value
of the Shares (determined as of the respective date or dates of grant), subject to ISOs granted to any Participant under the Plan and
any other option plan of the Corporation or any Related Corporation that first become exercisable in any calendar year, including any
ISOs which become exercisable on an accelerated basis during such year, exceeds the sum of One Hundred Thousand Dollars ($100,000), such
excess Options shall be treated as NSOs.

 

2.2
VESTING.

 

Each Option shall vest and become exercisable
at such time or times, during such period, and for such number of Shares as shall be determined by the Committee and set forth in the
Award Agreement evidencing the Option; provided that no Option may be exercisable after the expiration of ten (10) years (or, in
the case of an ISO granted to a 10% Stockholder, five (5) years) from the date of grant. Vesting may be conditioned on the continued performance
of Services or the achievement of performance conditions measured on an individual, corporate or other basis, or any combination thereof.

 

2.3
EXERCISE PRICE.

 

The Exercise Price shall be fixed by the Committee,
provided that the Exercise Price for any Option shall never be less than one hundred percent (100%) (or, in the case of a 10% Stockholder
receiving an ISO, 110%) of the Fair Market Value per share of Stock on the Option grant date.

 

2.4
METHOD OF EXERCISE.

 

The Participant may exercise the Option by delivering
a written notice of exercise to the Corporation, in the form and manner designated by the Committee and as set out in the relevant Award
Agreement. The notice shall be effective only if accompanied by payment of the Exercise Price in full. The Committee shall have the discretion
to provide that the Exercise Price may be payable, to the extent permitted by applicable law, in one or more of the forms specified below:

 

		(a)	Cash/Check. Cash or
check made payable to the Corporation;

 

		(b)	Shares Owned. By delivery
to the Corporation of Shares owned by the Participant (by either actual delivery of Shares or by attestation, with such Shares valued
at Fair Market Value as of the day of exercise) with such documentation as the Committee may require or in such other manner as the Committee
may require;

 

		(c)	Share Withholding. By
withholding Shares that would otherwise be acquired on exercise having an aggregate Fair Market Value at the time of exercise equal to
the Exercise Price;

 

		(d)	Cashless Exercise. By
cashless exercise through delivery of irrevocable instructions to a broker to promptly deliver to the Corporation the amount of proceeds
from a sale of Shares having a Fair Market Value equal to the Exercise Price; and/or

 

		(e)	Other Forms. In any
other form of legal consideration that may be acceptable to the Committee, so long as it does not result in the deferral of recognition
of income or a “deferral of compensation” within the meaning of Code §409A.

 

2.5
SETTLEMENT OF AWARD.

 

The Corporation shall allot, issue and otherwise
deliver Shares, in the name of the relevant Participant, as soon as practicable after the Corporation’s receipt of the Participant’s
properly completed notice of exercise and payment in full of the Exercise Price as described in Section 2.4. Such Shares shall be subject
to such conditions as the Committee may establish, except that such conditions may not cause the deferral of recognition of income.

 

2.6
CANCELLATION AND REGRANT OF OPTIONS.

 

The Committee shall have the authority to effect,
at any time and from time to time, with the consent of the affected Participant, the cancellation of any or all outstanding Options under
the Option Grant Program and to grant in substitution new Options covering the same or different number of Shares which might have an
Exercise Price per Share no less than the Fair Market Value per Share on the new grant date. The cancellation and grant need not be simultaneous.

 

    6

     

    

 

ARTICLE 3

STOCK APPRECIATION RIGHTS PROGRAM

 

3.1
TERMS.

 

A Stock Appreciation Right entitles the
Participant to receive, with respect to each Share subject to the SAR, the appreciation in the Fair Market Value over a base price
established by the Committee, payable in cash or Shares, or a combination of both, as determined by the Committee at the time of
payment. Each SAR shall be evidenced by an Award Agreement in the form approved by the Committee. Award Agreements evidencing SARs
need not be identical, but shall include (through incorporation of provisions hereof, by reference in the Award Agreements, or
otherwise) the terms specified below and be subject to the provisions of the Plan applicable to such SARs.

 

3.2
VESTING.

 

The SAR shall cover a specified number of Shares
and shall vest and become exercisable upon such terms and conditions as the Committee shall establish; provided that no SAR may
be exercisable more than ten (10) years after the date of grant unless otherwise determined by the Committee and set forth in the Award
Agreement. Vesting may be conditioned on the continued performance of Services or the achievement of performance conditions measured
on an individual, corporate or other basis, or any combination thereof.

 

3.3
VALUE.

 

The base price in effect for Shares covered by
a SAR shall be determined by the Committee at the time of grant. In no event, however, may the base price per Share be less than the Fair
Market Value per Share on the grant date. The Participant will receive upon exercise of the SAR an amount equal to the excess of the Fair
Market Value of a Share on the surrender date over the base price of a Share (the “Spread”) multiplied by the number
of Shares covered by the SAR Award. Notwithstanding the foregoing, the Committee, in its sole discretion, may provide at the time it grants
a SAR that the Spread covered by such SAR may not exceed a specified amount.

 

3.4
METHOD OF EXERCISE.

 

The Participant may exercise the SAR by delivering
a written notice of exercise to the Corporation, in the form and manner designated by the Committee and as set out in the relevant Award
Agreement.

 

3.5
SETTLEMENT OF AWARD.

 

To the extent the Committee determines that the
Participant will receive cash upon exercise of a SAR, the Corporation shall deliver the cash amount which becomes due upon exercise of
a SAR as soon as administratively practicable after the Corporation’s receipt of the Participant’s properly completed notice
of exercise. To the extent the Committee determines that Shares will be delivered to the Participant upon exercise of a SAR, the Corporation
shall allot, issue and otherwise deliver Shares, in the name of the relevant Participant, as soon as practicable after the Corporation’s
receipt of the Participant’s properly completed notice of exercise and payment in full of the Exercise Price as described in Section
3.4. The Shares shall be subject to such conditions, restrictions and contingencies as the Committee may establish, except that such conditions
may not cause the deferral of recognition of income.

 

    7

     

    

 

ARTICLE 4

RESTRICTED STOCK PROGRAM

 

4.1
TERMS.

 

A Restricted Stock Award is a grant of Shares
or Preferred Shares subject to conditions and restrictions, if any, as determined by the Committee. Each Restricted Stock Award shall
be evidenced by an Award Agreement in the form approved by the Committee. Award Agreements evidencing Restricted Stock Awards need not
be identical, but shall include (through incorporation of provisions hereof, by reference in the Award Agreements, or otherwise) the terms
specified below and be subject to the provisions of the Plan applicable to such Restricted Stock Awards.

 

4.2
LAPSE OF RESTRICTIONS.

 

Each Restricted Stock Award shall be, for the
applicable Period of Restriction determined by the Committee, subject to such conditions, restrictions and contingencies as the Committee
shall determine. Lapse of restrictions may be conditioned on the continued performance of Services or the achievement of performance conditions
measured on an individual, corporate or other basis, or any combination thereof.

 

4.4
SHARE ESCROW/LEGENDS.

 

	(a)	Legend. Unless the certificate representing Shares of the Restricted Stock are deposited with a custodian (as described in subparagraph 4.4 (b) below), each certificate shall bear the following legend (in addition to any other legend required by law):

 

“The transferability of the shares
represented by this certificate is subject to the restrictions, terms and conditions (including forfeiture and restrictions against transfer)
contained in the Amended and Restated Luokung Technology Corp. 2018 Omnibus Equity Plan and a Restricted Stock Agreement dated __________,
____, between ________________ and Luokung Technology Corp. The Plan and the Restricted Stock Agreement are on file in the office of the
Corporate Secretary of Luokung Technology Corp.”

 

Such legend shall be removed or canceled
from any certificate evidencing Shares of Restricted Stock as of the date that such Shares become nonforfeitable.

 

	(b)	Deposit with Custodian. As an alternative to delivering a share certificate to the Participant, the Committee may deposit or transfer such Shares electronically to a custodian designated by the Committee. The Committee shall cause the custodian to issue a receipt for the Shares to the Participant for any Restricted Stock so deposited. The custodian shall hold the Shares and deliver the same to the Participant in whose name the Restricted Stock evidenced thereby are registered only after such Shares become nonforfeitable.

 

    8

     

    

 

ARTICLE 5

UNRESTRICTED STOCK PROGRAM

 

The Committee may, in its sole discretion,
award Unrestricted Stock to any Participant as a share bonus or otherwise pursuant to which such Participant may receive Shares or Preferred
Shares free of restrictions or limitations that would otherwise be applied under Section 4 of this Plan.

 

ARTICLE 6

RESTRICTED STOCK UNIT PROGRAM

 

6.1
TERMS.

 

A Restricted Stock Unit Award entitles the Participant
to receive Shares upon the vesting of the Restricted Stock Unit Award. Each Restricted Stock Unit Award shall be evidenced by an Award
Agreement in the form approved by the Committee. Subject to the terms of the Plan, Restricted Stock Units may be granted to Participants
in such amounts and upon such terms and at any time and from time to time, as shall be determined by the Committee. Award Agreements evidencing
Restricted Stock Unit Awards need not be identical, but shall include (through incorporation of provisions hereof, by reference in the
Award Agreements, or otherwise) the terms specified below and be subject to the provisions of the Plan applicable to Restricted Stock
Unit Awards.

 

6.2
VESTING.

 

Each Restricted Stock Unit shall be subject to
such vesting conditions, restrictions and contingencies as the Committee shall determine and set forth in the Award Agreement evidencing
the Restricted Stock Unit. Vesting may be conditioned on the continued performance of Services or the achievement of performance conditions
measured on an individual, corporate or other basis, or any combination thereof.

 

6.3
SETTLEMENT OF AWARD.

 

As soon as practicable following the date each
Restricted Stock Unit vests, the Corporation shall allot, issue and otherwise, in the name of the relevant Participant, the Shares underlying
such Restricted Stock Unit. The Shares shall be subject to such conditions, restrictions and contingencies as the Committee may establish,
except that such conditions may not cause the deferral of recognition of income.

 

ARTICLE 7

PERFORMANCE-BASED COMPENSATION

 

7.1
AWARDS OF PERFORMANCE-BASED COMPENSATION.

 

At its discretion, the Committee may make performance-based
Awards to Participants. In such event, the number of Shares becoming exercisable or transferable or amounts payable with respect to grants
of Options, Stock Appreciation Rights, and/or awards of Restricted Stock, Unrestricted Stock or Restricted Stock Units may be determined
based on the attainment of written performance goals based on the performance measures set forth in Section 7.2 and which have been approved
by the Committee for a specified performance period. The performance goals shall state, in terms of an objective formula or standard,
the method of computing the amount of compensation payable to the Participant if the goal is attained. The performance goals must be established
by the Committee in writing no more than ninety (90) days after the commencement of the performance period or, if less, the number of
days that is equal to 25% of the relevant performance period. The outcome of the performance goal must be substantially uncertain at the
time the Committee establishes the performance goal. Performance goals will be based on the attainment of one or more objectives based
on performance measures.

 

7.2
PERFORMANCE MEASURES.

 

Performance measures may include the
following: (i) earnings before all or any taxes; (ii) earnings before all or any of interest expense, taxes, depreciation and
amortization; (iii) earnings before all or any of interest expense, taxes, depreciation, amortization and rent; (iv) earnings before
all or any of interest expense and taxes; (v) net earnings; (vi) net income; (vii) operating income or margin; (viii) earnings per
share; (ix) growth; (x) return on shareholders’ equity; (xi) capital expenditures; (xii) expenses and expense ratio
management; (xiii) return on investment; (xiv) improvements in capital structure; (xv) profitability of an identifiable business
unit or product; (xvi) profit margins; (xvii) share price; (xviii) market share; (xix) revenues; (xx) costs; (xxi) cash flow; (xxii)
working capital; (xxiii) return on assets; (xxiv) economic value added; (xxv) industry indices; (xxvi) peer group performance;
(xxvii) regulatory ratings; (xxviii) asset quality; (xxix) gross or net profit; (xxx) net sales; (xxxi) total shareholder return;
(xxxii) sales (net or gross) measured by product line, territory, customers or other category; (xxxiii) earnings from continuing
operations; (xxxiv) net worth; (xxxv) levels of expense, receivables, cost or liability by category, operating unit or any other
delineation, or any other measures approved by the Committee. Performance Measures may relate to the Corporation and/or one or more
of its affiliates, one or more of its divisions or units or any combination of the foregoing, on a consolidated or nonconsolidated
basis, and may be applied on an absolute basis or be relative to one or more peer group companies or indices, or any combination
thereof, all as the Committee determines.

 

7.3
Reserved.

 

    9

     

    

 

ARTICLE 8

RULES APPLICABLE TO ALL AWARDS

 

8.1
TERMINATION OF SERVICE.

 

Unless otherwise determined by the Committee and
included in the Participant’s Award Agreement, in the event that a Participant’s Service with the Corporation and/or all Related
Corporations is terminated for any reason, all Awards held by the Participant which are unexercised or have not yet vested as of such
date shall expire, terminate, and cease to be exercisable as of such termination date, provided, however, that if the Participant’s
Service terminates for reasons other than Cause, all outstanding vested Options and SARs held by the Participant as of his or her termination
date shall continue to be exercisable until the earlier of the expiration of their term or the date that is three months after such termination
date.

 

8.2
ACCELERATION OF VESTING.

 

The Committee shall have complete discretion,
subject to the terms of the Plan, exercisable either at the time an Award is granted or at any time while the Award remains outstanding,
to accelerate the vesting of or lapse of restrictions on any Award.

 

8.3
EXTENSION OF EXERCISE PERIOD.

 

The Committee shall have complete discretion,
subject to the terms of the Plan, exercisable either at the time an Award is granted or at any time while the Award remains outstanding,
to extend the period of time for which the Option or SAR is to remain exercisable following the Participant’s termination of Service from
the limited exercise period otherwise in effect for that Option or SAR to such greater period of time as the Committee shall deem appropriate,
but in no event beyond the expiration of the Option or SAR term, and/or to permit the Option or SAR to be exercised, during the applicable
post-termination exercise period, not only with respect to the number of vested Shares for which such Option or SAR is exercisable at
the time of the Participant’s termination of Service but also with respect to one or more additional installments in which the Participant
would have vested had the Participant continued in Service. Such an extension may result in recharacterization of an ISO as a Non-Statutory
Stock Option.

 

8.4
TRANSFERABILITY.

 

All rights with respect to an Award granted to
a Participant under the Plan shall be available during his or her lifetime only to such Participant, except as designated by the
Participant by will or by the laws of descent and distribution; provided, however, that the Committee shall have the
discretion to provide that any Awards (other than an ISO) may, in connection with the Participant’s estate plan, be assigned in
whole or in part during the Participant’s lifetime to a trust established exclusively for one or more members of the Participant’s
immediate family. The terms applicable to the assigned Awards shall be the same as those in effect for the Awards immediately prior
to such assignment and shall be set forth in such documents issued to the assignee as the Committee may deem appropriate. Any
assignment shall not affect the Participant’s obligations to satisfy applicable tax withholding as described herein. The
Participant may also designate in writing one or more persons as the beneficiary or beneficiaries of his or her outstanding Awards
and those Awards shall, except to the extent of any lifetime transfer as provided herein, automatically be transferred to such
beneficiary or beneficiaries upon the Participant’s death while holding those Awards. Each such designation shall revoke all prior
designations by the same Participant, shall be in a form prescribed by the Corporation, and will be effective only when filed by the
Participant in writing with the Corporation during the Participant’s lifetime. In the absence of any such designation,
benefits under an Award remaining unpaid at the Participant’s death shall be paid to the Participant’s estate. A
beneficiary or beneficiaries shall take the transferred Awards subject to all the terms and conditions of the applicable Award
Agreement, including (without limitation) the limited time period during which any Award may be exercised following the
Participant’s death.

 

8.5
SHAREHOLDER RIGHTS.

 

Except as otherwise provided by the Committee
in the Award Agreement, the Participant (or his or her beneficiaries) holding an Award shall have no shareholder rights with respect to
the Shares subject to or underlying the Award until the Participant has received and become a holder of record of the Shares underlying
the Award or, in the case of Restricted Stock, all restrictions have lapsed.

 

8.6
TAX WITHHOLDING.

 

	(a)	Conditions on Delivery of Shares. The Corporation’s obligation to deliver Shares under the Plan shall, to the extent required by Federal, state, local or foreign law, be subject to the satisfaction of all applicable Federal, state, local and foreign income and employment tax withholding requirements (or, in the case of Restricted Stock, the making of arrangements satisfactory to the Corporation regarding such payment). Whenever under the Plan payments are to be made in cash, such payments may be net of an amount sufficient to satisfy such withholding requirements.

 

	(b)	Tender of Shares. The Committee may, in its discretion, provide any or all Participants granted Non-Statutory Stock Options, SARs, Restricted Stock, Unrestricted Stock, or RSUs settled in Plan Securities under the Plan with the right to use Plan Securities in satisfaction of all or part of the applicable withholding taxes to which such Participants may become subject in connection with the exercise of their Options or SARs, the vesting of their Restricted Stock, or the settlement of their Restricted Stock Units or other Awards in Plan Securities. Such right may be provided to any such Participant in either or both of the following formats:

 

	 	(i)	The election to have the Corporation withhold, from the Plan Securities otherwise issuable upon the exercise of the NSO or SAR, the vesting of the Restricted Stock, or the settlement of Restricted Stock Units or other Awards in Plan Securities, a portion of those Plan Securities with an aggregate Fair Market Value equal to the percentage of the applicable withholding taxes (not to exceed the minimum required by law) designated by the Participant.

 

	 	(ii)	The election to deliver to the Corporation, at the time the NSO or SAR is exercised, the Restricted Stock vests, or the Restricted Stock Units or other Awards are settled in Plan Securities, Plan Securities previously acquired by such Participant (other than in connection with the Option or SAR exercise, Restricted Stock vesting or Restricted Stock Units or other Awards in Stock settlement triggering the withholding taxes) with an aggregate Fair Market Value equal to the percentage of the withholding taxes (not to exceed the minimum required by law) designated by the Participant.

 

    10

     

    

 

ARTICLE 9

DEFINITIONS

 

The following definitions shall be in effect under
the Plan:

 

9.1 Award Agreement shall mean a written
document setting forth the terms and provisions applicable to an Award granted to a Participant under the Plan, and is a condition to
the grant of an Award hereunder.

 

9.2 Awards shall mean any award or benefit
granted to any Participant under the Plan, including, without limitation, the grant of Options, SARs, Restricted Stock, Unrestricted Stock
and Restricted Stock Units.

 

9.3 Board shall mean the Corporation’s
Board of Directors.

 

9.4 Cause shall mean the commission
of any act of fraud, embezzlement or dishonesty by the Participant, any act or omission by such person constituting a breach or
default under any written or oral agreement between such person and the Corporation (or any Related Corporation), any unauthorized
use or disclosure by such person of confidential information or trade secrets of the Corporation (or any Related Corporation), or
any other intentional act by such person adversely affecting the business or affairs of the Corporation (or any Related Corporation)
in a material manner. The foregoing definition shall not be deemed to be inclusive of all the acts or omissions which the
Corporation (or any Related Corporation) may consider as grounds for the dismissal or discharge of any Participant or other person
in the Service of the Corporation (or any Related Corporation).

 

	9.5	Change of Control shall mean the first of the following events to occur:

 

	(a)	The acquisition by any one person or more than one person acting as a group (within the meaning of Treasury Regulation §1.409A-3(i)(5)(v)(B)), other than the Corporation, any Related Corporation, or any employee benefit plan (or related trust) sponsored or maintained by the Corporation or any Related Corporation, (a “Person”) of any shares of the Corporation that, together with shares held by such Person, constitutes more than 50% of the total fair market value or total voting power of the shares of the Corporation. For purposes of this Paragraph (a), the following acquisitions shall not constitute a Change of Control: the acquisition of additional shares by a Person who is considered to own more than 50% of the total voting power of the shares of the Corporation. An increase in the percentage of shares owned by any one Person as a result of a transaction in which the Corporation acquires its shares in exchange for property will be treated as an acquisition of shares for purposes of this Paragraph;

 

	(b)	A majority of the members of the Board is replaced during any twelve (12)-month period commencing on the Effective Date, by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment;
	 	 
	(c)	The consummation of a merger or consolidation of the Corporation with any other corporation, other than a merger or consolidation which would result in (a) the voting securities of the Corporation outstanding immediately prior thereto continuing to represent (either by remaining outstanding or being converted into voting securities of the surviving entity) at least fifty percent (50%) of the total voting power represented by the voting securities of the Corporation or such surviving entity outstanding immediately after such merger or consolidation; or (b) the directors of the Corporation immediately prior thereto continuing to represent at least fifty percent (50%) of the directors of the Corporation or such surviving entity immediately after such merger or consolidation;

 

	(d)	The consummation of the sale or disposition by the Corporation of all or substantially all of the Corporation’s assets.

 

The above definition of “Change of Control”
shall be interpreted by the Board, in good faith, to apply in a similar manner to transactions involving partnerships and partnership
interests, and to comply with Code §409A and official guidance issued thereunder from time to time.

 

9.6 Code shall mean the Internal Revenue
Code of 1986, as amended.

 

9.7 Committee shall mean the particular
entity, whether the Committee or the Board, which is authorized to administer the Plan, to the extent such entity is carrying out its
administrative functions under the Plan.

 

9.8 Corporation shall mean Luokung Technology
Corp. Ltd, a British Virgin Islands company, and any corporate successor to all or substantially all of the assets or voting shares of
Luokung Technology Corp. which shall by appropriate action adopt the Plan.

 

9.9 Disability shall mean, unless otherwise
provided in the Award Agreement or in any employment, change of control or similar agreement in effect between the Participant and the
Corporation or Related Corporation, the Participant is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period
of not less than 12 months; or, by reason of any medically determinable physical or mental impairment which can be expected to result
in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period
of not less than 3 months under an accident and health plan covering employees of the Corporation or a Related Corporation.

 

9.10 Effective Date shall mean the date the Plan is adopted
by the last of the Board and the Shareholders.

 

9.11 Eligible Persons shall mean persons eligible to participate
in the Plan, as described in Section 1.4.

 

9.12 Employee shall mean an employee of the Corporation (or
any Related Corporation).

 

9.13 Exercise Price shall mean the per Share exercise price
of an Option as determined under Article 2 of the Plan.

 

    11

     

    

 

9.14 Fair Market Value per Share on the
relevant date shall mean, if the Shares are duly listed on a national securities exchange or on The Nasdaq Stock Market, the closing price
of the Shares on the relevant date, or, if there are no sales on such date, on the next preceding day on which there were sales, or if
the Shares are not so listed, the fair market value of the Shares for the relevant date, as determined by the Committee in good faith
and in compliance with Code §409A.

 

9.15 Incentive Stock Option or ISO
shall mean an Option that is intended to qualify as, and that satisfies the requirements applicable to, an “incentive stock option”
described in Code § 422(b).

 

9.16 Non-Statutory Stock Option or NSO
shall mean an Option that is not intended to be, or does not qualify as, an Incentive Stock Option.

 

9.17 Option shall mean a right to acquire
Shares of the Corporation pursuant to a Non-Statutory Stock Option or Incentive Stock Option granted under Article 2 of the Plan.

 

9.18 Participant shall mean any Eligible
Person who receives an Award under the Plan, and includes those former Eligible Persons who have certain post-termination rights under
the terms of an Award granted under the Plan.

 

9.19 Reserved.

 

9.20 Period of Restriction shall mean the
period(s) during which the transfer of an Award or the Shares subject to an Award is limited in some way (based on the passage of time,
the achievement of performance goals, or upon the occurrence of other events as determined by the Committee, at its discretion) or the
Shares are subject to a substantial risk of forfeiture, pursuant to the terms of this Plan or the applicable Award Agreement.

 

9.21 Plan shall mean the Amended and Restated
Luokung Technology Corp. 2018 Omnibus Equity Plan, as set forth in this document.

 

9.22 Related Corporation shall mean any
affiliate of the Corporation; provided, however, that with respect to any ISO and for purposes of the definition of 10% Stockholder,
“Related Corporation” shall mean any Corporation during any period in which it is a “parent corporation” (as that
term is defined in Code §424(e)) with respect to the Corporation or a “subsidiary corporation” (as that term is defined
in Code §424(f)) with respect to the Corporation.

 

9.23 Restricted Stock shall mean a grant
of Shares and/or Preferred Shares granted under Article 4 of the Plan that is subject to such conditions, restrictions and contingencies
as the Committee determines and set forth in the applicable Award Agreement.

 

9.24 Restricted Stock Unit or RSUs
shall mean a right to receive Shares upon satisfaction of certain vesting requirements pursuant to Article 6 of the Plan.

 

9.25 Service shall mean the performance
of services for the Corporation (or any Related Corporation) by a person in the capacity of an Employee, a non-Employee member of the
board of directors, or a consultant or independent advisor, except to the extent otherwise specifically provided in the Award Agreement.

 

9.26 Shares shall mean Ordinary Shares
of the Corporation, par value $0.01 per share.

 

9.27 Stock Appreciation Rights or SARs
shall mean a right to receive the appreciation in the Fair Market Value of Shares, as granted under Article 3 of the Plan.

 

9.28 10% Stockholder shall mean the owner
of shares (as determined under Code §424(d)) possessing more than ten percent (10%) of the total combined voting power of all classes
of shares of the Corporation (or any Related Corporation).

 

9.29 Unrestricted Stock means an Award of Shares
or Preferred Shares made pursuant to Article 5 of the Plan.

 

9.30 Unrestricted Stock means an Award of Shares
or Preferred Shares made pursuant to Article 5 of the Plan.

 

9.31 Preferred Shares shall mean Preferred
Shares of the Corporation, par value $0.01 per share.

 

    12

     

    

 

ARTICLE 10

MISCELLANEOUS

 

10.1
EFFECTIVE DATE AND TERM OF PLAN.

 

	(a)	Effective Date. The Plan shall become effective immediately upon its adoption by the Board, subject to approval by the shareholders of the Corporation at the first annual meeting of shareholders held following the adoption by the Board, or any special meeting of the shareholders duly called. Options may be granted under the Option Grant Program at any time on or after the Effective Date. However, until the shareholders approve the Plan, no Options or SARs granted under the Plan may be exercised, no Restricted or Unrestricted Stock shall be issued under the Plan and no Award may be settled in Stock under the Plan. If shareholder approval is not obtained within twelve (12) months after the Effective Date, then all Awards shall be null and void.

 

	(b)	Termination Date. The Plan shall terminate upon the earliest to occur of (i) the tenth (10th) anniversary of the Plan’s effective date, or (ii) the date on which all Shares available for issuance under the Plan shall have been issued as fully-vested Shares. Should the Plan terminate on the tenth (10th) anniversary of the Effective Date, then all Awards outstanding at that time shall continue to have force and effect in accordance with the provisions of the applicable Award Agreements.

 

10.2
AMENDMENT OF PLAN.

 

	(a)	Amendment and Termination By the Board. Subject to Paragraph (b) below, the Board shall have the power at any time to add to, amend, modify or repeal any of the provisions of the Plan, to suspend the operation of the entire Plan or any of its provisions for any period or to terminate the Plan in whole or in part. In the event of any such action, the Committee shall prepare written procedures which, when approved by the Board, shall govern the administration of the Plan resulting from such addition, amendment, modification, repeal, suspension or termination. The Committee may amend any Award Agreement that it previously has authorized under the Plan and the applicable Participant; provided, however, that no Award Agreement may be amended to reprice or constructively reprice any Award.

 

	(b)	Restrictions on Amendment and Termination. Notwithstanding the provisions of Paragraph (a) above, the following restrictions shall apply to the Board’s authority under Paragraph (a) above:

 

	 	(i)	Prohibition Against Adverse Effects on Outstanding Awards. No addition, amendment, modification, repeal, suspension or termination shall adversely affect, in any way, the rights of the Participants who have outstanding Awards without the consent of such Participants;

 

	 	(ii)	Stockholder Approval Required for Certain Modifications. No modification or amendment of the Plan may be made without the prior approval of an ordinary resolution of the shareholders passed at a duly convened and constituted meeting of the shareholders of the Corporation if (i) such modification or amendment would cause the applicable portions of the Plan to fail to qualify as an ISO plan pursuant to Code §422, (ii) such modification or amendment would materially increase the benefits accruing to Participants under the Plan, (iii) such modification or amendment would materially increase the number of Awards or Shares which may be issued under the Plan, or (iv) such modification or amendment would materially modify the requirements as to eligibility for participation in the Plan. Clauses (ii), (iii) and (iv) of the preceding sentence shall be interpreted in accordance with the provisions of paragraph (b)(2) of Rule 16b-3 of the 1934 Act.

 

10.3
CONTINUING SECURITIES LAW COMPLIANCE; LEGENDS.

 

The granting of Awards and the issuance of
Shares under the Plan shall be subject to all applicable laws, and to such approvals by any governmental agencies or national
securities exchanges as may be required. If at any time on or after the Effective Date, the Committee, in its discretion, shall
determine that the requirements of any applicable federal or state securities laws should fail to be met, no Shares issuable under
Awards and no Options or SARs shall be exercisable until the Committee has determined that these requirements have again been met.
The Committee may suspend the right to exercise any Option or SAR at any time when it determines that allowing the exercise and
issuance of Shares would violate any federal or state securities or other laws, and may provide that any time periods to exercise
the Option or SAR are extended during a period of suspension. With respect to “Insiders,” transactions under this Plan
are intended to comply with all applicable conditions of Rule 16b-3 under the Securities Exchange Act of 1934. To the extent any
provision of the Plan or action by the Committee fails to so comply, it shall be deemed null and void, to the extent permitted by
law and deemed advisable by the Committee. Each Award Agreement and each certificate representing Awards or Shares granted pursuant
to the Plan (including Awards or Shares issuable pursuant to the terms of derivative securities) may bear such restrictive legend(s)
as the Committee deems necessary or advisable under applicable law, including Federal and state securities laws. If any Award is
made to a Participant who is subject to the Corporation’s policy regarding trading of its Shares by its officers and directors
and Shares are scheduled to be delivered under the Plan to the Participant on a day (the “original distribution date”)
that does not occur during a “window period” applicable to the Participant, as determined by the Corporation in
accordance with such policy, then the Corporation can choose not to deliver such Shares on such original distribution date and
instead to deliver such Shares on the first day of the next “window period” applicable to the Participant pursuant to
such policy, but in no event later than the March 15 following the close of the calendar year in which such Shares were no longer
subject to a substantial risk of forfeiture (within the meaning of Code §409A).

 

10.4
LIQUIDATION OF THE CORPORATION.

 

In the event of the complete liquidation or dissolution
of the Corporation, any outstanding Awards granted under this Plan shall be deemed automatically canceled without any action on the part
of the Corporation and without regard to or limitation by any other provision of the Plan.

 

10.5
NO EMPLOYMENT/SERVICE RIGHTS.

 

Nothing in the Plan shall confer upon any Participant
any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of
the Corporation (or any Related Corporation employing or retaining such person) or of the Participant, which rights are hereby expressly
reserved by each, to terminate the Participant’s Service at any time for any reason, with or without Cause.

 

    13

     

    

 

10.6
RULES OF CONSTRUCTION.

 

For all purposes of this Plan, except as otherwise
expressly provided:

 

	 	(a)	all accounting terms not otherwise defined herein have the meanings ascribed thereto under U.S. generally accepted accounting principles;

                                                      

	 	(b)	all references in this Plan to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of the body of this Plan except to the extent identified as references to sections or subsections of the Code;

                                                      

	 	(c)	the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Plan as a whole and not to any particular Article, Section or other subdivision;

                                                      

	 	(d)	whenever the words “include,” “includes” or “including” are used in this Plan, they shall be deemed to be followed by the words “without limitation”;

                                                      

	 	(e)	whenever this Plan refers to a number of days, such number shall refer to calendar days unless business days are expressly specified;

                                                      

	 	(f)	a reference to any legislation or to any provision of any legislation shall include such legislation, as amended through the date hereof, and all subsequent amendments or modification thereto or re-enactment thereof, any legislative provision substituted therefor and all regulations and statutory instruments issued thereunder or pursuant thereto; and

                                                      

	 	(g)	except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural shall include the singular and the singular shall include the plural.

 

10.7
UNFUNDED STATUS OF PLAN.

 

The Plan is intended to constitute an “unfunded”
plan for incentive compensation. With respect to any payments not yet made to a Participant by the Corporation, nothing set forth herein
shall give any such Participant any rights that are greater than those of a general creditor of the Corporation. In its sole discretion,
the Committee may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to deliver Shares
or a payment in lieu of or with respect to Awards hereunder, provided, however, that the existence of such trusts or other arrangements
is consistent with the unfunded status of the Plan.

 

10.8
AWARDS TO PARTICIPANTS OUTSIDE THE UNITED STATES.

 

The Committee may modify the terms of any
Award under the Plan made to or held by a Participant who is then resident or primarily employed outside the United States in any
manner deemed by the Committee to be necessary or appropriate in order that the Award shall conform to laws, regulations, and
customs of the country in which the Participant is then resident or primarily employed, or so that the value and other benefits of
the Award to the Participant, as affected by foreign tax laws and other restrictions applicable as a result of the
Participant’s residence or employment abroad, shall be comparable to the value of such an Award to a Participant who is
resident or primarily employed in the United States. Such authorization shall extend to and include establishing one or more
separate sub-plans which include provisions not inconsistent with the Plan that comply with statutory or regulatory requirements
imposed by the foreign country or countries in which the Participant resides.

 

10.9
SEVERABILITY.

 

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

 

10.10
GOVERNING LAW.

 

To the extent not preempted by United States Federal
law, the Plan, and all agreements hereunder, shall be construed in accordance with and governed by the laws of British Virgin Islands.

 

 

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