Document:

THE
SECURITIES REPRESENTED HEREBY HAVE BEEN ISSUED IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE
OF THE SECURITIES REPRESENTED HEREBY, NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE, HAVE BEEN REGISTERED UNDER
THE 1933 ACT OR ANY U.S. STATE SECURITIES LAWS AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED,
DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, A U.S. PERSON EXCEPT IN ACCORDANCE WITH
THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT, AND IN EACH
CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE AND FOREIGN SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES
MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. “UNITED STATES” AND “U.S. PERSON” ARE AS
DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

	Issue
    Date: October 30, 2017	Principal
    Amount: $75,000 

 

10%
UNSECURED CONVERTIBLE NOTE

 

1.
General

 

1.1
FOR VALUE RECEIVED, APPCOIN INNOVATIONS INC. (the “Company”) promises to pay to CANACCORD GENUITY CORP.,
having an address at 2200-609 GRANVILLE STREET, VANCOUVER, BC, V7Y 1H2 (or its registered assigns) (the “Holder”),
the principal sum of SEVENTY-FIVE THOUSAND ($75,000) in lawful currency of the United States (the “Principal
Amount”) on or before October 30, 2020 (the “Maturity Date”), and to pay interest to the Holder on
the Principal Amount at the rate of 10.0% per annum, in accordance with Section 4.

 

2.
Definitions

 

2.1
For the purposes hereof, in addition to the terms defined elsewhere in this Note: (i) capitalized terms not otherwise defined
herein have the meanings given to such terms in the Subscription Agreement, and (ii) the following terms shall have the following
meanings:

 

	 	(a)	“Business
    Day” means any day except Saturday, Sunday and any day which is a federal legal holiday in the United States or
    a day on which banking institutions in the State of California are authorized or required by law or other government action
    to close;
	 	 	 
	 	(b)	“Conversion
    Date” means the Business Day after the Holder provides the Conversion Notice to the Company for the conversion of
    any portion of the Principal Amount and accrued interest thereon into Conversion Shares pursuant to the terms of this Note;
	 	 	 
	 	(c)	“Conversion
    Notice” has the meaning set forth in Section 5.2;
	 	 	 
	 	(d)	“Conversion
    Price” means $0.10 per Conversion Share, subject to adjustment as provided in Section 5.7;

 

    	 	 	 

    	 	- 2 -	 

    

 

	 	(e)	“Conversion
    Share” means a Share into which the Principal Amount, and accrued interest thereon, may be converted pursuant to
    the terms of this Note;
	 	 	 
	 	(f)	“Issue
    Date” has the meaning set forth on the first page of this Note;
	 	 	 
	 	(g)	“Party”
    means either the Company or the Holder, as applicable, and “Parties” means both of them;
	 	 	 
	 	(h)	“Person”
    means any individual, sole proprietorship, limited or unlimited liability corporation, partnership, unincorporated association,
    unincorporated syndicate, unincorporated organization, body corporate, joint venture, trust, pension fund, union, governmental
    authority, and a natural person including in such person’s capacity as trustee, heir, beneficiary, executor, administrator
    or other legal representative;
	 	 	 
	 	(i)	“Share”
    means a share of common stock in the capital of the Company; and
	 	 	 
	 	(j)	“Subscription
    Agreement” means the private placement subscription agreement between the Parties dated as of the Issue Date, as
    amended, modified or supplemented from time to time in accordance with its terms.

 

3.
Subscription Agreement

 

3.1
The Holder has acquired this Note, and this Note has been issued, pursuant to the Subscription Agreement and this Note is subject
in all respects to the terms of the Subscription Agreement and incorporates the terms of the Subscription Agreement, provided
that, in the event of a conflict between this Note and the Subscription Agreement, the terms of this Note shall prevail.

 

4.
Interest

 

4.1
The Company agrees to pay interest to the Holder on the Principal Amount at the rate of 10.0% per annum, compounded annually.
Interest will be payable on the earlier of: (a) the Maturity Date, (b) any Conversion Date, and (c) the date that all amounts
owing under this Note are prepaid by the Company in accordance with Section 7. Interest shall be calculated on the basis of a
365-day year and shall accrue daily, commencing on the date of the issuance of this Note, until payment in full of the Principal
Amount and all other amounts that may become owing under this Note.

 

    	 	 	 

    	 	- 3 -	 

    

 

5.
Conversion

 

5.1
The Parties agree that the Principal Amount, plus any accrued interest thereon, will, at the election of the Holder, be convertible
into Conversion Shares subject to the limitations set forth in this Note. Notwithstanding anything to the contrary contained in
this Note, this Note shall not be convertible by the Holder, and the Company shall not effect any conversion of this Note or otherwise
issue any Conversion Shares pursuant hereto, to the extent (but only to the extent) that, after giving effect to such conversion,
the Holder or any of its affiliates would beneficially own in excess of 4.99% (the “Maximum Percentage”) of
the issued and outstanding Shares after such conversion. To the extent the above limitation applies, the determination of whether
this Note shall be convertible (vis-à-vis other convertible, exercisable or exchangeable securities owned by the Holder
or any of its affiliates) and of which such securities shall be convertible, exercisable or exchangeable (as among all such securities
owned by the Holder and its affiliates) shall, subject to the Maximum Percentage limitation, be determined on the basis of the
first submission to the Company for conversion, exercise or exchange (as the case may be). No prior inability to convert this
Note or to issue Conversion Shares pursuant to this Section 5.1 shall have any effect on the applicability of the provisions of
this Section 5.1 with respect to any subsequent determination of convertibility. For purposes of this Section 5.1, beneficial
ownership and all determinations and calculations (including, without limitation, with respect to calculations of percentage ownership)
shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”)
and the rules and regulations promulgated thereunder. The provisions of this Section 5.1 shall only be implemented in a manner
otherwise than in strict conformity with the terms of this Section 5.1 to correct this Section 5.1 (or any portion hereof) which
may be defective or inconsistent with the intended Maximum Percentage limitation herein contained or to make changes or supplements
necessary or desirable to properly give effect to the Maximum Percentage limitation. The limitations contained in this Section
5.1 shall apply to a successor holder of this Note. For any reason at any time, upon the written or oral request of the Holder,
the Company shall within one Business Day confirm orally and in writing to the Holder the number of Shares then outstanding, including
by virtue of any prior conversion or exercise of convertible or exercisable securities into Shares, including, without limitation,
pursuant to this Note. By written notice to the Company, the Holder may increase or decrease the Maximum Percentage to any other
percentage not in excess of 9.99% specified in such notice; provided that: (a) any such increase will not be effective until the
61st day after such notice is delivered to the Company, and (b) any such increase or decrease will apply only to the Holder sending
such notice.

 

5.2
In order to effect any conversion under this Note and subject to the limitations set forth in this Note, the Holder must provide
written notice (the “Conversion Notice”) to the Company setting out the portion of the Principal Amount, and
accrued interest thereon, that is to be converted into Conversion Shares.

 

5.3
The number of Conversion Shares issuable upon conversion of the Principal Amount to be converted shall be determined by the quotient
obtained by dividing (x) by (y) where (x) is equal to the Principal Amount to be converted and (y) is the Conversion Price.

 

5.4
The number of Conversion Shares issuable upon conversion of any accrued and outstanding interest on this Note shall be determined
by the quotient obtained by dividing (x) by (y) where (x) is equal to the amount of accrued interest on the Principal Amount to
be converted and (y) is the Conversion Price.

 

5.5
Not later than five Business Days after any Conversion Date, the Company will deliver to the Holder a certificate representing
the Conversion Shares (bearing such legends as may be required by applicable law) representing the aggregate number of Conversion
Shares being acquired.

 

    	 	 	 

    	 	- 4 -	 

    

 

5.6
Upon any conversion hereunder, the Company shall not be required to issue any fraction of a Conversion Share, and the number of
Conversion Shares shall be rounded down to the nearest whole number.

 

5.7
If the Company, at any time while this Note is outstanding: (a) subdivides outstanding Shares into a larger number of Shares,
(b) combines (including by way of reverse split) outstanding Shares into a smaller number of Shares, or (c) issues, by reclassification
of Shares, any equity securities of the Company, then the Conversion Price shall be multiplied by a fraction of which the numerator
shall be the number of Shares outstanding before such event and the denominator shall be the number of Shares outstanding after
such event. Any adjustment made pursuant to this Section 5.7 shall become effective after the effective date of such subdivision,
combination or re-classification.

 

6.
Repayment

 

6.1
Payment of this Note (less any tax required to be withheld by the Company) shall be paid to the Holder by the Company by cheque,
wire transfer or such other method as may be mutually agreed to by the Parties from time to time.

 

7.
Prepayment

 

7.1
Subject to Sections 5 and 7 of this Note, the Company shall pay to the Holder the Principal Amount, and accrued interest thereon,
in cash on the Maturity Date. The Company may, at any time prior to the Maturity Date, upon ten calendar days’ prior written
notice to the Holder (a “Prepayment Notice”), prepay any portion of the Principal Amount and accrued interest
thereon, without the prior written consent of the Holder, provided that at the time of such prepayment the Holder is able to convert
all amounts being prepaid without exceeding the Maximum Percentage.

 

7.2
The Prepayment Notice shall set forth the date on which prepayment is to occur, such date being no earlier than ten calendar days
after the date of the Prepayment Notice and no later than the Maturity Date (in any case, the “Prepayment Date”),
and shall set forth that portion of the Principal Amount to be prepaid, along with the calculated accrued interest thereon, as
through and including the Prepayment Date (the “Prepayment Amount”).

 

7.3
The Prepayment Amount (less any tax required to be withheld by the Company) shall be paid to the Holder by the Company by cheque,
wire transfer or such other method as may be mutually agreed to by the Parties from time to time. The mailing of such cheque,
or payment by other means, by the Company on or before the Prepayment Date shall be deemed to be payment on the Prepayment Date
unless the cheque is not paid upon presentation, or payment by such other means as may be mutually agreed to by the Parties is
not received prior to the Prepayment Date. If only a part of the Principal Amount is to be prepaid, a new certificate for the
balance of the Principal Amount shall be issued at the expense of the Company and delivered to the Holder, together with the cheque
representing the Prepayment as provided for in this Section 7.3.

 

    	 	 	 

    	 	- 5 -	 

    

 

7.4
At any time after a Prepayment Notice is given, the Company shall have the right to deliver to the Holder, or to such other Person
as may be directed by the Holder, the Prepayment Amount. Upon the delivery of the Prepayment Amount to the Holder being made,
or upon the Prepayment Date, whichever is later, the Note shall be, and be deemed to be, paid and the rights of the Holder shall
be limited to receiving, without interest, the amount so deposited. Any interest allowed on such deposit shall accrue to the Company.

 

8.
Event of Default

 

8.1
For the purposes of this Note, the Company shall be in default upon the occurrence of any one or more of the following events
(each such event being, an “Event of Default”):

 

	 	(a)	the
    Company defaults in the payment of any amounts owing under this Note when due and the Company fails to cure such default within
    ten (10) Business Days after written notice of default is sent by the Holder to the Company;
	 	 	 
	 	(b)	the
    Company fails to issue the Conversion Shares within ten (10) Business Days after a Conversion Notice is delivered to the Company;
	 	 	 
	 	(c)	the
    Company files a voluntary petition in bankruptcy or is adjudicated bankrupt or insolvent, or files any petition or answer
    seeking or acquiescing in any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar
    relief for itself under any present or future federal, state or other statute, law or regulation relating to bankruptcy, insolvency
    or other relief for debtors; or seeks, consents to, or acquiesces in, the appointment of any trustee, receiver or liquidator
    of the Company;
	 	 	 
	 	(d)	a
    court of competent jurisdiction enters an order, judgment or decree approving a petition filed against the Company seeking
    any reorganization, dissolution or similar relief under any present or future federal, state or other statute, law or regulation
    relating to bankruptcy, insolvency or other relief for debtors, and such order, judgment or decree remains unvacated and unstayed
    for an aggregate of 60 Business Days (whether or not consecutive) from the first date of entry thereof; or any trustee, receiver
    or liquidator of the Company is appointed without the consent or acquiescence of the Company and such appointment remains
    unvacated and unstayed for an aggregate of 60 Business Days (whether or not consecutive); or
	 	 	 
	 	(e)	the
    Company ceases or threatens to cease to carry on its business.

 

8.2
If any Event of Default occurs, subject to any cure period, the full Principal Amount, together with interest thereon accrued
to the date of the Event of Default, shall become, at the Holder’s election, immediately due and payable in cash. Upon payment
of the full Principal Amount, together with accrued interest and any other amounts owing under this Note, this Note shall promptly
be surrendered to or as directed by the Company. The Holder need not provide and the Company hereby waives any presentment, demand,
protest or other notice of any kind, and the Holder may immediately, subject to any cure period, enforce any and all of its rights
and remedies hereunder and all other remedies available to it under applicable law. Such declaration may be rescinded and annulled
by the Holder at any time prior to payment hereunder and the Holder shall have all rights as a Note holder until such time, if
any, as the full payment of amounts owing under this Note shall have been received by it. No such rescission or annulment shall
affect any subsequent Event of Default or impair any right consequent thereon.

 

    	 	 	 

    	 	- 6 -	 

    

 

9.
Notices

 

9.1
Any and all notices or other communications or deliveries to be provided by the Holder hereunder, including, without limitation,
any Conversion Notice, shall be in writing, addressed to the Company, and delivered personally or by facsimile, email or overnight
courier service to: 3250 Oakland Hills Court, Fairfield, CA 94534; Email: jgeiskopf@aol.com, Attn: Jimmy Geiskopf, or such other
email address or physical address as the Company may notify the Holder of from time to time in accordance with Section 9.2.

 

9.2
Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing, addressed
to the Holder, and delivered personally or by facsimile, email or overnight courier service to the address of the Holder appearing
on the first page of this Note, or such other address as the Holder may notify the Company of from time to time in accordance
with Section 9.1.

 

9.3
Any notice or other communication or delivery hereunder shall be deemed given and effective on the earliest of: (a) the date of
transmission, if such notice or communication is delivered by facsimile or email transmission prior to 5:30 p.m. (Pacific Standard
Time) on a Business Day, (b) the second Business Day following the date of mailing, if sent by overnight courier service, or (c)
upon actual receipt by the Party to whom such notice is required to be given.

 

10.
Replacement of Note if Lost or Destroyed

 

If
this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in exchange and substitution for
and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen or destroyed Note, a new Note for
the balance outstanding at such time with respect to the Principal Amount, but only upon receipt of evidence of such loss, theft
or destruction of such Note, and of the ownership hereof, and indemnity, if requested, all reasonably satisfactory to the Company.

 

11.
Governing Law

 

All
questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by and construed
and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles of conflicts of law
thereof.

 

12.
Waivers

 

Any
waiver by a Party of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other breach
of such provision or of any breach of any other provision of this Note. The failure of a Party to insist upon strict adherence
to any term of this Note on one or more occasions shall not be considered a waiver or deprive that Party of the right thereafter
to insist upon strict adherence to that term or any other term of this Note. Any waiver must be in writing.

 

    	 	 	 

    	 	- 7 -	 

    

 

13.
Usury

 

If
any provision of this Note is invalid, illegal or unenforceable, the balance of this Note shall remain in effect, and if any provision
is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances.
If it shall be found that any interest or other amount deemed interest due hereunder violates applicable laws governing usury,
the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum permitted rate of interest.

 

14.
Next Business Day

 

Whenever
any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment or other obligation shall
be made on the next succeeding Business Day.

 

15.
Counterparts and Electronic Means

 

This
Note may be executed in counterparts, each of which, when so executed and delivered, will constitute an original, and all of which
together will constitute one instrument. Delivery of an executed copy of this Note by email transmission or other means of electronic
communication capable of producing a printed copy, will be deemed to be execution and delivery of an original copy of this Note
as of the Issue Date.

 

[THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

    	 	 	 

    	 	- 8 -	 

    

 

IN
WITNESS WHEREOF, the Parties have caused this Note to be duly executed as of the Issue Date.

 

APPCOIN
INNOVATIONS INC.

 

	Per:	/s/
    Michael Blum	 
	 	Authorized
    Signatory	 

 

	Name:	Michael
    BlumICOX
INNOVATIONS INC.

(the “Company”)

 

2017
EQUITY INCENTIVE PLAN

 

1.
Purpose

 

1.1
Purpose. The purpose of this 2017 Equity Incentive Plan (this “Plan”) is to: (a) enable the Company
and any Affiliate to attract and retain the types of Employees, Consultants and Directors who will contribute to the Company’s
long range success; (b) provide incentives that align the interests of Employees, Consultants and Directors with those of the
Shareholders; and (c) promote the success of the Company’s business.

 

2.
Eligibility

 

2.1
Eligible Award Recipients. The persons eligible to receive Awards are the Employees, Consultants and Directors of the Company
and its Affiliates and such other individuals designated by the Committee who are reasonably expected to become Employees, Consultants
and Directors after the receipt of Awards.

 

3.
Definitions

 

3.1
For the purposes of this Plan, the following terms shall have the following meanings, unless the context indicates otherwise:

 

“Affiliate”
means a corporation or other entity that, directly or through one or more intermediaries, controls, is controlled by, or is under
common control with, the Company.

 

“Applicable
Laws” means the requirements related to, or implicated by, the administration of this Plan under applicable state corporate
laws, United States federal and state securities laws, the Code, the rules or policies of any stock exchange or quotation system
on which the Common Stock is then listed or quoted, and the applicable laws of any foreign country or jurisdiction where Awards
are granted.

 

“Award”
means any right granted to a Participant under this Plan, which may include the grant of Incentive Stock Options, Non-qualified
Stock Options, Stock Appreciation Rights, Restricted Awards or Performance Compensation Awards.

 

“Award
Agreement” means a written agreement, contract, certificate or other document evidencing the terms and conditions of
an individual Award granted under this Plan, which may, in the discretion of the Company, be transmitted electronically to any
Participant. Each Award Agreement shall be subject to the terms and conditions of this Plan.

 

“Beneficial
Owner” has the meaning ascribed thereto in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that, in calculating
the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
such “person” shall be deemed to have beneficial ownership of all securities that such “person” has the
right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable
only after the passage of time.

 

    	 

    	-2-

    

 

“Board”
means the board of directors of the Company, as constituted at an applicable time.

 

“Cause”
means:

 

	 	(a)	with
    respect to any Employee or Consultant:

 

	 	(i)	if
    the Employee or Consultant is a party to an employment or service agreement with the Company or any Affiliate and such agreement
    provides for a definition of “cause” or other similar term, the definition contained therein, or
	 	 	 
	 	(ii)	if
    no such agreement exists, or if such agreement does not define “cause” or other similar term: (A) the commission
    of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving
    willful malfeasance or material fiduciary breach with respect to the Company or an Affiliate, (B) conduct that results in,
    or is reasonably likely to result in, harm to the reputation or business of the Company or any Affiliate, (C) gross negligence
    or willful misconduct with respect to the Company or an Affiliate, or (D) material violation of any applicable securities
    laws;

 

	 	(b)	with
    respect to any Director, a determination by a majority of the disinterested Board members that the Director has engaged in
    any of the following:

 

	 	(i)	malfeasance
    in office with respect to the Company or an Affiliate,
	 	 	 
	 	(ii)	gross
    misconduct or neglect with respect to the Company or an Affiliate,
	 	 	 
	 	(iii)	any
    false or fraudulent misrepresentation that has induced the Company or any Shareholder to elect or appoint the Director,
	 	 	 
	 	(iv)	wilful
    conversion of funds of the Company or an Affiliate, or
	 	 	 
	 	(v)	repeated
    failure to participate in Board meetings on a regular basis, despite having received proper notice of the meetings in advance.

 

The
Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Participant
has been discharged for Cause.

 

“Change
in Control” means:

 

	 	(a)	the
    direct or indirect sale, transfer, conveyance or other disposition (other than in a transaction contemplated by subsection
    (e)), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and
    its subsidiaries, taken as a whole, to any Person that is not an Affiliate;

 

    	 

    	-3-

    

 

	 	(b)	the
    Incumbent Directors ceasing for any reason to constitute at least a majority of the Board;
	 	 	 
	 	(c)	the
    date which is 10 business days prior to the consummation of a complete liquidation or dissolution of the Company;
	 	 	 
	 	(d)	the
    acquisition by any Person of Beneficial Ownership of 50% or more (on a fully diluted basis) of either (i) the then outstanding
    shares of Common Stock, taking into account as outstanding for this purpose such Common Stock issuable upon the exercise of
    options or warrants, the conversion of convertible stock or debt, and the exercise of any similar right to acquire such Common
    Stock (the “Outstanding Common Stock”); or (ii) the combined voting power of the then outstanding voting
    securities of the Company entitled to vote generally in the election of directors (the “Outstanding Voting Securities”);
    provided, however, that for purposes of this Plan, the following acquisitions shall not constitute a Change in Control: (A)
    any acquisition by the Company or any Affiliate, (B) any acquisition by any employee benefit plan sponsored or maintained
    by the Company or any Affiliate, (C) any acquisition which complies with clauses (i), (ii) and (iii) of subsection (e) of
    this definition, or (D) in respect of an Award held by a particular Participant, any acquisition by the Participant or any
    group of Persons including the Participant (or any entity controlled by the Participant or any group of persons including
    the Participant); or
	 	 	 
	 	(e)	the
    consummation of a reorganization, merger, consolidation, statutory share exchange, business combination or similar form of
    corporate transaction involving the Company that requires the approval of the Shareholders, whether for such transaction or
    the issuance of securities in connection with such transaction (in any case, a “Business Combination”),
    unless immediately following such Business Combination: (i) more than 50% of the total voting power of (A) the entity resulting
    from such Business Combination (the “Surviving Company”), or (B) if applicable, the ultimate parent entity
    that directly or indirectly has beneficial ownership of sufficient voting securities eligible to elect a majority of the members
    of the board of directors (or the analogous governing body) of the Surviving Company (the “Parent Company”),
    is represented by the Outstanding Voting Securities that were outstanding immediately prior to such Business Combination (or,
    if applicable, is represented by shares into which the Outstanding Voting Securities were converted pursuant to such Business
    Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power
    of the Outstanding Voting Securities among the holders thereof immediately prior to the Business Combination; (ii) no Person
    (other than any employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company) is or becomes
    the Beneficial Owner, directly or indirectly, of 50% or more of the total voting power of the outstanding voting securities
    eligible to elect members of the board of directors of the Parent Company (or the analogous governing body) (or, if there
    is no Parent Company, the Surviving Company); and (iii) at least a majority of the members of the board of directors (or the
    analogous governing body) of the Parent Company (or, if there is no Parent Company, the Surviving Company) following the consummation
    of the Business Combination were Board members at the time of the Board’s approval of the execution of the initial agreement
    providing for such Business Combination.

 

    	 

    	-4-

    

 

“Code”
means the Internal Revenue Code of 1986, as it may be amended from time to time, and any reference to a section of the
Code shall be deemed to include a reference to any regulations promulgated thereunder.

 

“Committee”
means the Board or a committee of the Board appointed by the Board to administer this Plan in accordance with Section 4.3 and
Section 4.4.

 

“Common
Stock” means the common stock, $0.001 par value per share, of the Company or such other securities of the Company as
may be designated by the Committee from time to time in substitution thereof.

 

“Company”
means ICOX Innovations Inc., a Nevada corporation, and any successor thereto.

 

“Consultant”
means any individual who is engaged by the Company or any Affiliate to render consulting or advisory services.

 

“Continuous
Service” means that a Participant’s service with the Company or an Affiliate, whether as an Employee, Consultant
or Director, 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 such Participant renders service to the Company or an Affiliate as an Employee,
Consultant or Director, or a change in the entity for which such Participant renders such service, provided that there is no interruption
or termination of such Participant’s Continuous Service; and provided further that if any Award is subject to Section 409A
of the Code, this sentence shall only be given effect to the extent consistent with Section 409A of the Code. For example, a change
in status from an Employee of the Company to a Director of an Affiliate will not constitute an interruption of Continuous Service.
The Committee, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of
any leave of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence.

 

“Covered
Employee” has the same meaning as set forth in Section 162(m)(3) of the Code, as interpreted by the Internal Revenue
Service.

 

“Director”
means a member of the Board or of the board of directors of any Affiliate.

 

“Disability”
means that the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical
or mental impairment; provided, however, that for the purposes of determining the term of an Incentive Stock Option pursuant to
Section 7.1(i), “Disability” shall have the meaning ascribed to it under Section 22(e)(3) of the Code. The determination
of whether a Participant has a Disability shall be determined under procedures established by the Committee. Except in situations
where the Committee is determining whether a Participant has a Disability for purposes of the term of an Incentive Stock Option
pursuant to Section 7.1(i) hereof within the meaning of Section 22(e)(3) of the Code, the Committee may rely on any determination
that a Participant is disabled for purposes of benefits under any long-term disability plan maintained by the Company or any Affiliate
in which a Participant participates.

 

    	 

    	-5-

    

 

“Disqualifying
Disposition” has the meaning set forth in Section 15.11.

 

“Effective
Date” shall mean the date as of which this Plan is adopted by the Board.

 

“Employee”
means any individual, including any Officer or Director, employed by the Company or an Affiliate; provided, that, for the purposes
of determining eligibility to receive Incentive Stock Options, “Employee” shall mean an employee of the Company or
an Affiliate within the meaning of Section 424 of the Code. Mere service as a Director or payment of a director’s fee to
a Participant by the Company or an Affiliate shall not be sufficient to constitute “employment” by the Company or
such Affiliate.

 

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

 

“Fair
Market Value” means, as of any date: (a) if the Shares are listed or quoted on any established stock exchange or public
market, including the New York Stock Exchange, the NASDAQ, the OTCQB, the OTCQX, the TSX Venture Exchange or the Canadian Securities
Exchange, the closing price per Share (or if no sales were reported the closing price on the date immediately preceding such date)
as quoted on such exchange or public market on the day of determination, as reported in such source as the Committee deems reliable,
multiplied by the number of Shares underlying the applicable Award; or (b) if the Shares are not listed or quoted on any established
stock exchange or public market, such value as is determined in good faith by the Committee in its sole discretion, which determination
shall be conclusive and binding on all Persons.

 

“Free
Standing Rights” has the meaning set forth in Section 8.1(a).

 

“Good
Reason” means:

 

	 	(a)	if
    an Employee or Consultant is a party to an employment or service agreement with the Company or an Affiliate and such agreement
    provides for a definition of “good reason” or other similar term, the definition contained therein; or
	 	 	 
	 	(b)	if
    no such agreement exists or if such agreement does not define “good reason”, the occurrence of one or more of
    the following without the Participant’s express written consent, if such circumstances are not remedied by the Company
    within 30 days of its receipt of a written notice from the Participant describing the applicable circumstances (which notice
    must be provided by the Participant within 90 days of the Participant’s knowledge of the applicable circumstances):
    (i) any material, adverse change in the Participant’s duties, responsibilities, authority, title, status or reporting
    structure, (ii) a material reduction in the Participant’s base salary or bonus opportunity, or (iii) a geographical
    relocation of the Participant’s principal office location by more than 50 miles.

 

    	 

    	-6-

    

 

“Grant
Date” means the date on which the Committee adopts a resolution, or takes other appropriate action, expressly granting
an Award that specifies the key terms and conditions of the Award or, if a later date of grant for the Award is set forth in such
resolution, then such date as is set forth in such resolution.

 

“Incentive
Stock Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of
the Code.

 

“Incumbent
Directors” means individuals who, on the Effective Date, constitute the Board, provided that any individual becoming
a Director subsequent to the Effective Date whose election or nomination for election to the Board was approved by a vote of at
least two-thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement
of the Company in which such individual is named as a nominee for Director without objection to such nomination) shall be deemed
to be an Incumbent Director. No individual initially elected or nominated as a Director as a result of an actual or threatened
election contest with respect to the Incumbent Directors or as a result of any other actual or threatened solicitation of proxies
by or on behalf of any Person other than the Incumbent Directors shall be an Incumbent Director.

 

“Negative
Discretion” means the discretion authorized by this Plan to be applied by the Committee to eliminate or reduce the size
of a Performance Compensation Award in accordance with Section 8.3(d)(iv); provided that the exercise of such discretion would
not cause such Performance Compensation Award to fail to qualify as “performance-based compensation” under Section
162(m) of the Code.

 

“Non-Employee
Director” means a Director who is a “non-employee director” within the meaning of Rule 16b-3.

 

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

 

“Officer”
means a Person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations
promulgated thereunder.

 

“Option”
means an Incentive Stock Option or a Non-Qualified Stock Option granted pursuant to this Plan.

 

“Option
Exercise Price” means the price at which a Share may be purchased upon the exercise of an Option.

 

“Optionholder”
means a Person to whom an Option is granted pursuant to this Plan or, if applicable, such other Person who holds an outstanding
Option.

 

“Outside
Director” means a Director who is an “outside director” within the meaning of Section 162(m) of the Code
and Treasury Regulations Section 1.162-27(e)(3) or any successor to such statute and regulation.

 

    	 

    	-7-

    

 

“Participant”
means an eligible Person to whom an Award is granted pursuant to this Plan or, if applicable, such other Person who holds an outstanding
Award.

 

“Performance
Compensation Award” means any Award designated by the Committee as a Performance Compensation Award pursuant to Section
8.3.

 

“Performance
Criteria” means the criterion or criteria that the Committee shall select for purposes of establishing the Performance
Goal(s) for a Performance Period with respect to any Performance Compensation Award. The Performance Criteria that will be used
to establish the Performance Goal(s) shall be based on the attainment of specific levels of performance of the Company (or an
Affiliate, division, business unit or operational unit thereof), and shall be limited to:

 

	 	(a)	net
    earnings or net income (before or after taxes);
	 	 	 
	 	(b)	basic
    or diluted earnings per Share (before or after taxes);
	 	 	 
	 	(c)	net
    revenue or net revenue growth;
	 	 	 
	 	(d)	gross
    revenue;
	 	 	 
	 	(e)	gross
    profit or gross profit growth;
	 	 	 
	 	(f)	net
    operating profit (before or after taxes);
	 	 	 
	 	(g)	return
    on assets, capital, invested capital, equity, or sales;
	 	 	 
	 	(h)	cash
    flow (including operating cash flow, free cash flow and cash flow return on capital);
	 	 	 
	 	(i)	earnings
    before or after taxes, interest, depreciation and/or amortization;
	 	 	 
	 	(j)	gross
    or operating margins;
	 	 	 
	 	(k)	improvements
    in capital structure;
	 	 	 
	 	(l)	budget
    and expense management;
	 	 	 
	 	(m)	productivity
    ratios;
	 	 	 
	 	(n)	economic
    value added or other value added measurements;
	 	 	 
	 	(o)	Share
    price (including growth measures and total Shareholder return);
	 	 	 
	 	(p)	expense
    targets;
	 	 	 
	 	(q)	margins;
	 	 	 
	 	(r)	operating
    efficiency;
	 	 	 
	 	(s)	working
    capital targets;
	 	 	 
	 	(t)	enterprise
    value;
	 	 	 
	 	(u)	safety
    record; and
	 	 	 
	 	(v)	completion
    of acquisitions or business expansion.

 

    	 

    	-8-

    

 

Any
one or more of the Performance Criteria may be used on an absolute or relative basis to measure the performance of the Company
and/or an Affiliate as a whole, or any division, business unit or operational unit of the Company and/or an Affiliate, or any
combination thereof, as the Committee may deem appropriate. The Committee may make comparisons to the performance of a group of
comparable companies, or data set out in a published or special index that the Committee, in its sole discretion, deems appropriate,
or the Committee may make comparisons of matters related to Share price as compared to various stock market indices. The Committee
also has the authority to provide for accelerated vesting of any Award based on the achievement of Performance Goals pursuant
to the Performance Criteria. To the extent required under Section 162 (m) of the Code, the Committee shall, within the first 90
days of a Performance Period (or, if longer or shorter, within the maximum period allowed under Section 162(m) of the Code), define
in an objective fashion the manner of calculating the Performance Criteria it selects to use for such Performance Period. In the
event that applicable tax and/or securities laws change to permit the Committee discretion to alter the governing Performance
Criteria without obtaining Shareholder approval of such changes, the Committee shall have sole discretion to make such changes
without obtaining Shareholder approval.

 

“Performance
Formula” means, for a Performance Period, the one or more objective formulas applied against the relevant Performance
Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but
less than all, or none of the Performance Compensation Award has been earned for the Performance Period.

 

“Performance
Goals” means, for a Performance Period, the one or more goals established by the Committee for the Performance Period
based upon the Performance Criteria. The Committee is authorized at any time during the first 90 days of a Performance Period
(or, if longer or shorter, within the maximum period allowed under Section 162(m) of the Code), or at any time thereafter (but
only to the extent the exercise of such authority after such period would not cause the Performance Compensation Awards granted
to any Participant for the Performance Period to fail to qualify as “performance-based compensation” under Section
162(m) of the Code), in its sole and absolute discretion, to adjust or modify the calculation of a Performance Goal for such Performance
Period to the extent permitted under Section 162(m) of the Code in order to prevent the dilution or enlargement of the rights
of a Participant in connection with any of the following:

 

	 	(a)	asset
    write-downs;
	 	 	 
	 	(b)	litigation
    or claim judgments or settlements;
	 	 	 
	 	(c)	the
    effect of changes in tax laws, accounting principles, or other laws or regulatory rules affecting reported results;

 

    	 

    	-9-

    

 

	 	(d)	any
    reorganization and restructuring programs;
	 	 	 
	 	(e)	extraordinary
    nonrecurring items as described in Accounting Principles Board Opinion No. 30 (or any successor or pronouncement thereto)
    and/or in management’s discussion and analysis of financial condition and results of operations as filed with applicable
    securities regulators;
	 	 	 
	 	(f)	acquisitions
    or divestitures;
	 	 	 
	 	(g)	any
    other specific unusual or nonrecurring events, or objectively determinable category thereof;
	 	 	 
	 	(h)	foreign
    exchange gains and losses; or
	 	 	 
	 	(i)	a
    change in the Company’s fiscal year.

 

“Performance
Period” means such one or more periods of time (in any case being not less than one fiscal quarter in duration) as the
Committee may determine, over which the attainment of one or more Performance Goals will be measured for the purpose of determining
a Participant’s right to, and the payment of, a Performance Compensation Award.

 

“Permitted
Transferee” means:

 

	 	(a)	a
    member of an Optionholder’s immediate family (child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
    former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law,
    including adoptive relationships), any Person sharing the Optionholder’s household (other than a tenant or employee),
    a trust in which any of the foregoing Persons have more than 50% of the beneficial interest, a foundation in which any of
    the foregoing Persons (or the Optionholder) control the management of assets, or any other entity in which any of the foregoing
    Persons (or the Optionholder) own more than 50% of the voting interests;
	 	 	 
	 	(b)	any
    Person designated by the Committee in connection with a program established and approved by the Committee pursuant to which
    Participants may receive a cash payment or other consideration in consideration for the transfer of a Non-Qualified Stock
    Option; and
	 	 	 
	 	(c)	such
    other transferees as may be permitted by the Committee in its sole discretion.

 

“Person”
is to be construed broadly and includes an individual, corporation, trust, partnership, governmental authority, or any administrator
or executor of any of the foregoing.

 

“Plan”
means this 2017 Equity Incentive Plan, as amended and/or amended and restated from time to time.

 

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

 

    	 

    	-10-

    

 

“Related
Entity” means a person that controls or is controlled by the Company or that is controlled by the same person that controls
the Company, if any.

 

“Related
Person” means: (i) a director or executive officer of the Company or of a Related Entity of the Company; (ii) an associate
of a director of executive officer of the Company or of a Related Entity of the Company; or (iii) a permitted assign of a director
of executive officer of the Company or of a Related Entity of the Company.

 

“Related
Rights” has the meaning set forth in Section 8.1(a).

 

“Restricted
Award” means any Award granted pursuant to Section 8.2(a).

 

“Restricted
Period” has the meaning set forth in Section 8.2(a).

 

“Rule
16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to
time.

 

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

 

“Share”
means a share of Common Stock.

 

“Shareholder”
means a holder of Shares.

 

“Stock
Appreciation Right” means the right, pursuant to an Award granted under Section 8.1, to receive, upon exercise, an amount
payable in cash or Shares equal to the number of Shares subject to the Stock Appreciation Right that is being exercised multiplied
by the excess of: (a) the Fair Market Value of one Share on the date the Award is exercised, over (b) the exercise price specified
in the Stock Appreciation Right Award Agreement.

 

“Stock
for Stock Exchange” has the meaning set forth in Section 7.1(c).

 

“Ten
Percent Shareholder” means a Person who owns (or is deemed to own pursuant to Section 424(d) of the Code) shares possessing
more than 10% of the total combined voting power of all classes of stock of the Company or of any of its Affiliates.

 

4.
Administration

 

4.1
Authority of Committee. This Plan shall be administered initially by the Committee. Subject to the terms of this Plan,
the Committee’s charter and Applicable Laws, and in addition to other express powers and authorization conferred by this
Plan, the Committee shall have the authority:

 

	 	(a)	to
    construe and interpret this Plan and apply its provisions;
	 	 	 
	 	(b)	to
    promulgate, amend, and rescind rules and regulations relating to the administration of this Plan;
	 	 	 
	 	(c)	to
    authorize any Person to execute, on behalf of the Company, any instrument required to carry out the purposes of this Plan;

 

    	 

    	-11-

    

 

 

	 	(d)	to
    delegate its authority to one or more Officers with respect to Awards that do not involve Covered Employees or “insiders”
    within the meaning of Section 16 of the Exchange Act;
	 	 	 
	 	(e)	to
    determine when Awards are to be granted and the applicable Grant Date;
	 	 	 
	 	(f)	from
    time to time to select, subject to the limitations set forth in this Plan, those Participants to whom Awards shall be granted;
	 	 	 
	 	(g)	to
    determine the number of Shares to be made subject to each Award;
	 	 	 
	 	(h)	to
    determine whether each Option is to be an Incentive Stock Option or a Non-qualified Stock Option;
	 	 	 
	 	(i)	to
    prescribe the terms and conditions of each Award, including the exercise price, medium of payment and vesting provisions,
    and to specify the provisions of the Award Agreement with respect thereto;
	 	 	 
	 	(j)	to
    designate an Award (including a cash bonus) as a Performance Compensation Award and to select the Performance Criteria that
    will be used to establish the Performance Goals;
	 	 	 
	 	(k)	to
    amend the terms of any outstanding Awards, including for the purpose of modifying the time or manner of vesting, or the term
    of any outstanding Award; provided, however, that if any such amendment impairs a Participant’s rights or increases
    a Participant’s obligations under an Award, or creates or increases a Participant’s federal income tax liability
    with respect to an Award, such amendment shall also be subject to the Participant’s consent;
	 	 	 
	 	(l)	to
    determine the duration and purpose of leaves of absences which may be granted to a Participant without constituting termination
    of their employment for purposes of this Plan, which periods shall be no shorter than the periods generally applicable to
    Employees under the Company’s employment policies;
	 	 	 
	 	(m)	to
    make decisions with respect to outstanding Awards that may become necessary upon a change in corporate control or an event
    that triggers anti-dilution adjustments;
	 	 	 
	 	(n)	to
    interpret, administer, reconcile any inconsistency in, correct any defect in and/or supply any omission in this Plan and any
    instrument or agreement relating to, or Award granted under, this Plan; and
	 	 	 
	 	(o)	to
    exercise discretion to make any and all other determinations which it determines to be necessary or advisable for the administration
    of this Plan.

 

The
Committee also may modify the purchase price or the exercise price of any outstanding Award, provided that Shareholder approval
shall be required before the repricing is effective if such Shareholder approval is necessary to satisfy any Applicable Laws.

 

    	 

    	-12-

    

 

4.2
Committee Decisions Final. All decisions made by the Committee pursuant to the provisions of this Plan shall be final and
binding on the Company and the Participants, unless such decisions are determined by a court having jurisdiction to be arbitrary
and capricious.

 

4.3
Delegation. The Committee may delegate administration of the Plan to a committee or committees of one or more Directors,
and the term “Committee” shall apply to any Person(s) to whom such authority has been delegated. The Board
shall have the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and
references in this Plan to the Committee shall thereafter be to the committee or subcommittee), subject, however, to such resolutions,
not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the
Committee at any time and revest in the Board the administration of the Plan. The members of the Committee shall be appointed
by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee, add
additional members to, remove members (with or without cause) from, appoint new members, and fill vacancies, however caused, in
the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in the case of a Committee comprised
of only two members, the unanimous consent of its members, whether present or not, or by the written consent of the majority of
its members, and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board. Subject to the
limitations prescribed by this Plan and the Board, the Committee may establish and follow such rules and regulations for the conduct
of its business as it may determine to be advisable.

 

4.4
Committee Composition. If the Board establishes a committee to administer the Plan, except as otherwise determined by the
Board, the Committee shall consist solely of two or more Non-Employee Directors who are also Outside Directors. The Board shall
have discretion to determine whether or not it intends to comply with the exemption requirements of Rule 16b-3 and/or Section
162(m) of the Code. However, if the Board intends to satisfy such exemption requirements, with respect to Awards to any Covered
Employee and with respect to any insider subject to Section 16 of the Exchange Act, the Committee shall be a compensation committee
of the Board that at all times consists solely of two or more Non-Employee Directors who are also Outside Directors. Within the
scope of such authority, the Board or the Committee may: (a) delegate to a committee of one or more members of the Board who are
not Outside Directors the authority to grant Awards to eligible Persons who are either: (i) not then Covered Employees and are
not expected to be Covered Employees at the time of recognition of income resulting from such Award, or (ii) not Persons with
respect to whom the Company wishes to comply with Section 162(m) of the Code; or (b) delegate to a committee of one or more members
of the Board who are not Non-Employee Directors the authority to grant Awards to eligible Persons who are not then subject to
Section 16 of the Exchange Act. Nothing herein shall create an inference that an Award is not validly granted under the Plan in
the event Awards are granted under the Plan by a compensation committee of the Board that does not at all times consist solely
of two or more Non-Employee Directors who are also Outside Directors.

 

4.5
Indemnification. In addition to such other rights of indemnification as they may have as Directors or members of the Committee,
and to the extent allowed by Applicable Laws, the Committee shall be indemnified by the Company against the reasonable expenses,
including attorney’s fees, actually incurred in connection with any action, suit or proceeding or in connection with any
appeal therein, to which the Committee may be party by reason of any action taken or failure to act under or in connection with
the Plan or any Award granted under the Plan, and against all amounts paid by the Committee in settlement thereof (provided, however,
that the settlement has been approved by the Company, which approval shall not be unreasonably withheld) or paid by the Committee
in satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged
in such action, suit or proceeding that the Committee did not act in good faith and in a manner which such Person reasonably believed
to be in the best interests of the Company, or in the case of a criminal proceeding, had no reason to believe that the conduct
complained of was unlawful; provided, however, that within 60 days after institution of any such action, suit or proceeding, the
Committee shall, in writing, offer the Company the opportunity at its own expense to handle and defend such action, suit or proceeding.

 

    	 

    	-13-

    

 

5.
Shares Subject to this Plan

 

5.1
Number of Shares Authorized. Subject to adjustment in accordance with Section 12, a total of 3,900,000 Shares shall be
available for the grant of Awards. For so long as any Awards are outstanding, the Company shall keep available at all times such
number of Shares as would be issuable on the due exercise of all of such Awards.

 

5.2
Limitations on Shares Available for Issuance.

 

	 	(a)	the
    total number of Shares issuable to Related Persons under this Plan, at any time, shall not exceed ten (10%) percent of the
    issued and outstanding Shares;
	 	 	 
	 	(b)	the
    total number of Shares issuable to any Participant under this Plan, at any time, shall not exceed five (5%) percent of the
    issued     and     outstanding Shares;
	 	 	 
	 	(c)	the
    total number of Shares issued to Related Persons under this Plan, within any 12 month period, shall not exceed ten (10%) percent
    of the issued and outstanding Shares;
	 	 	 
	 	(d)	the
    total number of Shares issued to any Participant under this Plan, within any 12 month period, shall not exceed five (5%)
    percent     of     the issued and outstanding Shares;
	 	 	 
	 	(e)	the
    grant value of Shares reserved for issuance pursuant to Awards hereunder, plus the grant value of Options granted under this
    Plan to any one non-executive Director, shall not exceed $100,000 in any fiscal year, calculated by the Company as of the Grant Date.

 

5.3
Nature of Shares. Shares available for distribution under this Plan may consist, in whole or in part, of authorized and
unissued shares, treasury shares or shares reacquired by the Company in any manner.

 

5.4
Effect of Cancellation or Forfeiture of Award. Any Shares underlying an Award that is canceled, forfeited or expires prior
to exercise or realization, either in full or in part, shall again become available for issuance under this Plan. Notwithstanding
anything to the contrary contained herein, Shares underlying an Award shall not again be made available for issuance or delivery
under this Plan if such Shares are: (a) Shares tendered in payment of an Option; (b) Shares delivered or withheld by the Company
to satisfy any tax withholding obligation; or (c) Shares covered by a stock-settled Stock Appreciation Right or other Award that
were not issued upon the settlement of the Award.

 

    	 

    	-14-

    

 

6.
Eligibility

 

6.1
Eligibility for Specific Awards. Incentive Stock Options may be granted only to Employees. Awards other than Incentive
Stock Options may be granted to Employees, Consultants and Directors and those individuals whom the Committee determines are reasonably
expected to become Employees, Consultants and Directors following the applicable Grant Date.

 

6.2
Ten Percent Shareholders. A Ten Percent Shareholder shall not be granted an Incentive Stock Option unless the Option Exercise
Price is at least 110% of the Fair Market Value at the Grant Date and the Incentive Stock Option is not exercisable after the
expiration of five years from the Grant Date.

 

7.
Option Provisions

 

7.1
Each Option shall be evidenced by an Award Agreement, and shall be subject to the conditions set forth in this Section 7 and to
such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. All Options shall
be separately designated Incentive Stock Options or Non-Qualified Stock Options at the time of grant, and, if certificates are
issued, separate certificates will be issued for Shares purchased on exercise of each type of Option. Notwithstanding the foregoing,
the Company shall have no liability to any Participant or any other Person if an Option designated as an Incentive Stock Option
fails to qualify as such at any time, or if an Option is determined to constitute “nonqualified deferred compensation”
within the meaning of Section 409A of the Code and the terms of such Option do not satisfy the requirements of Section 409A of
the Code. The terms of separate Options need not be identical, but each Award Agreement shall include (through incorporation by
reference of provisions of this Plan in the Award Agreement or otherwise) the substance of each of the following provisions:

 

	 	(a)	Term.
    Subject to the provisions of Section 6.2 regarding Ten Percent Shareholders: (i) no Option shall be exercisable after the
    expiration of 10 years from the Grant Date, and (ii) the term of an Option shall be determined by the Committee at the time
    of grant.
	 	 	 
	 	(b)	Exercise
    Price of an Incentive Stock Option. Subject to the provisions of Section 6.2 regarding Ten Percent Shareholders, the Option
    Exercise Price of each Incentive Stock Option shall be not less than 100% of the greater of (i) the Fair Market Value of the
    Shares underlying the Option on the Grant Date and (ii) the Fair Market Value of the Shares underlying the Option on the trading
    date immediately preceding the Grant Date. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an
    Option Exercise Price lower than that set forth in the preceding sentence if such Incentive Stock Option is granted pursuant
    to an assumption or substitution for another option in a manner satisfying the provisions of Section 424(a) of the Code.

 

    	 

    	-15-

    

 

	 	(c)	Consideration.
    The Option Exercise Price shall be paid, to the extent permitted by applicable statutes and regulations, either: (a) in cash,
    certified check or by wire transfer at the time the Option is exercised; or (b) in the discretion of the Committee, upon such
    terms as the Committee shall approve: (i) by delivery to the Company of a certificate representing Shares, duly endorsed for
    transfer to the Company, having a Fair Market Value on the date of delivery equal to the Option Exercise Price (or portion
    thereof) due for the number of Shares being acquired, or by means of attestation whereby the Participant identifies for delivery
    specific Shares that have an aggregate Fair Market Value on the date of attestation equal to the Option Exercise Price (or
    portion thereof) and receives a number of Shares equal to the difference between the number of Shares thereby purchased and
    the number of identified attestation Shares (a “Stock for Stock Exchange”), (ii) pursuant to a “cashless”
    exercise program established with a broker, (iii) by reduction in the number of Shares otherwise deliverable upon exercise
    of such Option with a Fair Market Value equal to the aggregate Option Exercise Price at the time of exercise, (iv) by any
    combination of the foregoing methods, or (v) in any other form of legal consideration that may be acceptable to the Committee.
    Unless otherwise specifically provided in the Award Agreement, the exercise price of Shares acquired on exercise of an Option
    that is paid by delivery (or attestation) to the Company of other Shares acquired, directly or indirectly from the Company,
    shall be paid only by Shares that have been held for more than six months (or such longer or shorter period of time required
    to avoid a charge to earnings for financial accounting purposes). Notwithstanding the foregoing, during any period during
    which the Shares are publicly traded, an exercise by a Director or Officer that involves, or may involve, a direct or indirect
    extension of credit, or arrangement of an extension of credit, by the Company, directly or indirectly, in violation of Section
    402(a) of the Sarbanes-Oxley Act of 2002, shall be prohibited with respect to any Award.
	 	 	 
	 	(d)	Transferability
    of an Incentive Stock Option. An Incentive Stock Option shall not be transferable except by will or by the laws of descent
    and distribution and shall be exercisable during the lifetime of an Optionholder only by such Optionholder. Notwithstanding
    the foregoing, an Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate
    another Person who, in the event of the death of such Optionholder, shall thereafter be entitled to exercise such Optionholder’s
    Incentive Stock Option.
	 	 	 
	 	(e)	Transferability
    of a Non-Qualified Stock Option. A Non-Qualified Stock Option may, in the sole discretion of the Committee, be transferable
    to a Permitted Transferee, upon written approval by the Committee to the extent provided in the Award Agreement. If a Non-Qualified
    Stock Option does not provide for transferability, then such Non-Qualified Stock Option shall not be transferable except by
    will or by the laws of descent and distribution and shall be exercisable during the lifetime of an Optionholder only by such
    Optionholder. Notwithstanding the foregoing, an Optionholder may, by delivering written notice to the Company, in a form satisfactory
    to the Company, designate another Person who, in the event of the death of such Optionholder, shall thereafter be entitled
    to exercise such Optionholder’s Non-Qualified Stock Option.

 

    	 

    	-16-

    

 

	 	(f)	Vesting
    of Options. Each Option may, but need not, vest and become exercisable in periodic installments that may, but need not,
    be equal, and may be subject to such other terms and conditions on the time or times when it may be exercised (which may be
    based on performance or other criteria) as the Committee may deem appropriate. The vesting provisions of individual Options
    may vary. No Option may be exercised for a fraction of a Share. The Committee may, but shall not be required to, provide for
    an acceleration of vesting and exercisability in the terms of any Award Agreement upon the occurrence of a specified event.
	 	 	 
	 	(g)	Termination
    of Continuous Service. Unless otherwise provided in an Award Agreement, or in an employment agreement the terms of which
    have been approved by the Board, in the event an Optionholder’s Continuous Service terminates (other than upon the Optionholder’s
    death or Disability), such Optionholder may exercise its Option (to the extent that the Optionholder was entitled to exercise
    such Option as of the date of termination), but only within such period of time ending on the earlier of: (a) the date that
    is three months following the termination of such Optionholder’s Continuous Service; or (b) the expiration of the term
    of the Option as set forth in the Award Agreement; provided that, if the termination of the Optionholder’s Continuous
    Service is by the Company for Cause, all outstanding Options (whether or not vested) held by such Optionholder shall immediately
    terminate and cease to be exercisable. If, after termination, an Optionholder does not exercise its Option within the time
    specified in the Award Agreement, such Optionholder’s Option shall terminate.
	 	 	 
	 	(h)	Extension
    of Termination Date. An Award Agreement may provide that if the exercise of an Option following the termination of an
    Optionholder’s Continuous Service for any reason would be prohibited at any time because the issuance of Shares in connection
    therewith would violate the registration requirements under the Securities Act or any other state or federal securities laws,
    or the rules of any securities exchange or interdealer quotation system, then such Option shall terminate on the earlier of:
    (a) the expiration of the term of the Option in accordance with Section 7.1(a); or (b) the expiration of a period after termination
    of the Optionholder’s Continuous Service that is three months after the end of the period during which the exercise
    of such Optionholder’s Option would be in violation of such registration or other securities law requirements.
	 	 	 
	 	(i)	Disability
    of Optionholder. Unless otherwise provided in an Award Agreement, in the event that an Optionholder’s Continuous
    Service terminates as a result of such Optionholder’s Disability, such Optionholder may exercise its Option (to the
    extent that such Optionholder was entitled to exercise such Option as of the date of termination), but only within such period
    of time ending on the earlier of: (a) the date 12 months following such termination; or (b) the expiration of the term of
    the Option as set forth in the Award Agreement. If, after termination, an Optionholder does not exercise its Option within
    the time specified herein or in the Award Agreement, such Optionholder’s Option shall terminate.

 

    	 

    	-17-

    

 

	 	(j)	Death
    of Optionholder. Unless otherwise provided in an Award Agreement, in the event that an Optionholder’s Continuous
    Service terminates as a result of such Optionholder’s death, then such Optionholder’s Option may be exercised
    (to the extent the Optionholder was entitled to exercise such Option as of the date of death) by the Optionholder’s
    estate, by a Person who acquired the right to exercise the Option by bequest or inheritance or by a Person designated to exercise
    the Option upon the Optionholder’s death, but only within the period ending on the earlier of: (a) the date that is
    12 months following the date of death; or (b) the expiration of the term of such Option as set forth in the Award Agreement.
    If, after an Optionholder’s death, such Optionholder’s Option is not exercised within the time specified herein
    or in the Award Agreement, such Option shall terminate.
	 	 	 
	 	(k)	Incentive
    Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of grant)
    of Shares underlying any Incentive Stock Options that are exercisable for the first time by any Optionholder during any calendar
    year (under all plans of the Company and its Affiliates) exceeds $100,000, the Options or portions thereof which exceed such
    limit (according to the order in which they were granted) shall be treated as Non-Qualified Stock Options.

 

8.
Provisions of Awards Other Than Options

 

8.1
Stock Appreciation Rights.

 

	 	(a)	General.
    Each Stock Appreciation Right shall be evidenced by an Award Agreement, and shall be subject to the conditions set forth in
    this Section 8.1 and to such other conditions not inconsistent with this Plan as may be determined by the Committee in its
    sole discretion and reflected in the applicable Award Agreement. A Stock Appreciation Right may be granted alone (a “Free
    Standing Right”) or in tandem with an Option (a “Related Right”).
	 	 	 
	 	(b)	Grant
    Requirements. Any Related Right that relates to a Non-Qualified Stock Option may be granted at the same time such Non-Qualified
    Stock Option is granted or at any time thereafter, but before the exercise or expiration of the Non-Qualified Stock Option.
    Any Related Right that relates to an Incentive Stock Option must be granted at the same time the Incentive Stock Option is
    granted.
	 	 	 
	 	(c)	Term
    of Stock Appreciation Rights. The term of a Stock Appreciation Right shall be determined by the Committee and set out
    in the Award Agreement; provided, however, that no Stock Appreciation Right shall be exercisable later than the tenth anniversary
    of the Grant Date.

 

    	 

    	-18-

    

 

	 	(d)	Vesting
    of Stock Appreciation Rights. Each Stock Appreciation Right may, but need not, vest and become exercisable in periodic
    installments that may, but need not, be equal, and may be subject to such other terms and conditions on the time or times
    when it may be exercised as the Committee may deem appropriate. The vesting provisions of individual Stock Appreciation Rights
    may vary. No Stock Appreciation Right may be exercised for a fraction of a Share. The Committee may, but shall not be required
    to, provide for an acceleration of vesting and exercisability of a Stock Appreciation Right in the terms of an applicable
    Award Agreement upon the occurrence of a specified event.
	 	 	 
	 	(e)	Exercise
    and Payment. Upon exercise of a Stock Appreciation Right, the holder shall be entitled to receive from the Company an
    amount equal to: (i) the number of Shares subject to the Stock Appreciation Right that is being exercised multiplied by (ii)
    the excess of (A) the Fair Market Value of a Share on the date such Stock Appreciation Right is exercised, over (B) the exercise
    price specified in the Stock Appreciation Right. Payment with respect to the exercise of a Stock Appreciation Right shall
    be made on the date of exercise. Payment shall be made in the form of Shares (with or without restrictions as to substantial
    risk of forfeiture and transferability, as determined by the Committee in its sole discretion), cash or a combination thereof,
    as determined by the Committee.
	 	 	 
	 	(f)	Exercise
    Price. The exercise price of a Free Standing Right shall be determined by the Committee, but shall be not less than 100%
    of the greater of (i) the Fair Market Value of the Shares underlying the Free Standing Right on the Grant Date and (ii) the
    Fair Market Value of the Shares underlying the Free Standing Right on the trading date immediately preceding the Grant Date.
    A Related Right granted simultaneously with, or subsequent to, the grant of an Option and in conjunction therewith or in the
    alternative thereto, shall have the same exercise price as the related Option, shall be transferable only upon the same terms
    and conditions as the related Option, and shall be exercisable only to the same extent as the related Option; provided, however,
    that a Stock Appreciation Right, by its terms, shall be exercisable only when the Fair Market Value per Share subject to the
    Stock Appreciation Right and related Option exceeds the exercise price per Share thereof and no Stock Appreciation Rights
    may be granted in tandem with an Option unless the Committee determines that the requirements of Section 8.1(b) are satisfied.
	 	 	 
	 	(g)	Reduction
    in Underlying Option Shares. Upon any exercise of a Related Right, the number of Shares for which any related Option shall
    be exercisable shall be reduced by the number of Shares for which the Stock Appreciation Right has been exercised. The number
    of Shares for which a Related Right shall be exercisable shall be reduced upon any exercise of any related Option by the number
    of Shares for which such Option has been exercised.

 

    	 

    	-19-

    

 

8.2
Restricted Awards.

 

	 	(a)	General.
    A Restricted Award is an Award of actual Shares (“Restricted Stock”) or hypothetical Share units (“Restricted
    Stock Units”) having a value equal to the Fair Market Value of an identical number of Shares, which may, but need
    not, provide that such Restricted Award may not be sold, assigned, transferred or otherwise disposed of, pledged or hypothecated
    as collateral for a loan or as security for the performance of any obligation or for any other purpose for such period (the
    “Restricted Period”) as the Committee shall determine. Each Restricted Award granted under this Plan shall
    be evidenced by an Award Agreement, and shall be subject to the conditions set forth in this Section 8.2 and to such other
    conditions not inconsistent with the Plan as may be determined by the Committee in its sole discretion and reflected in the
    applicable Award Agreement.

 

	 	(b)	Restricted
    Stock and Restricted Stock Units.

 

	 	(i)	Each
    Participant granted Restricted Stock shall execute and deliver to the Company an Award Agreement with respect to the Restricted
    Stock setting forth the restrictions and other terms and conditions applicable to such Restricted Stock. If the Committee
    determines that the Restricted Stock shall be held by the Company or in escrow rather than delivered to the Participant pending
    the release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver
    to the Company: (A) an escrow agreement satisfactory to the Committee, if applicable; and (B) the appropriate blank stock
    power with respect to the Restricted Stock covered by such agreement. If a Participant fails to execute an agreement evidencing
    an Award of Restricted Stock and, if applicable, an escrow agreement and stock power, the Award shall be null and void. Subject
    to the restrictions set forth in the Award, the Participant generally shall have the rights and privileges of a Shareholder
    as to such Restricted Stock, including the right to vote such Restricted Stock and the right to receive dividends; provided
    that, any cash dividends and stock dividends with respect to the Restricted Stock shall be withheld by the Company for the
    Participant’s account, and interest may be credited on the amount of the cash dividends withheld at a rate and subject
    to such terms as determined by the Committee. The cash dividends or stock dividends so withheld by the Committee and attributable
    to any particular share of Restricted Stock (and earnings thereon, if applicable) shall be distributed to the Participant
    in cash or, at the discretion of the Committee, in Shares having a Fair Market Value equal to the amount of such dividends,
    if applicable, upon the release of restrictions on such Share and, if such Share is forfeited, the Participant shall have
    no right to such dividends.
	 	 	 
	 	(ii)	The
    terms and conditions of a grant of Restricted Stock Units shall be reflected in an Award Agreement. No Shares shall be issued
    at the time a Restricted Stock Unit is granted, and the Company will not be required to set aside a fund for the payment of
    any such Award. A Participant shall have no voting rights with respect to any Restricted Stock Units granted hereunder. At
    the discretion of the Committee, each Restricted Stock Unit (representing one Share) may be credited with cash and stock dividends
    paid by the Company in respect of one Share (“Dividend Equivalents”). Dividend Equivalents shall be withheld
    by the Company for the Participant’s account, and interest may be credited on the amount of cash Dividend Equivalents
    withheld at a rate and subject to such terms as determined by the Committee. Dividend Equivalents credited to a Participant’s
    account and attributable to any particular Restricted Stock Unit (and earnings thereon, if applicable) shall be distributed
    in cash or, at the discretion of the Committee, in Shares having a Fair Market Value equal to the amount of such Dividend
    Equivalents and earnings, if applicable, to the Participant upon settlement of such Restricted Stock Unit and, if such Restricted
    Stock Unit is forfeited, the Participant shall have no right to such Dividend Equivalents.

 

    	 

    	-20-

    

 

	 	(c)	Restrictions

 

	 	(i)	Restricted
    Stock awarded to a Participant shall be subject to the following restrictions until the expiration of the Restricted Period,
    and to such other terms and conditions as may be set forth in the applicable Award Agreement: (A) if an escrow arrangement
    is used, the Participant shall not be entitled to delivery of the Share certificate; (B) the Shares shall be subject to the
    restrictions on transferability set forth in the Award Agreement; (C) the Shares shall be subject to forfeiture to the extent
    provided in the applicable Award Agreement; and (D) to the extent such Shares are forfeited, the Share certificates shall
    be returned to the Company, and all rights of the Participant to such Shares and as a Shareholder shall terminate without
    further obligation on the part of the Company.
	 	 	 
	 	(ii)	Restricted
    Stock Units awarded to any Participant shall be subject to: (A) forfeiture until the expiration of the Restricted Period,
    and satisfaction of any applicable Performance Goals during such period, to the extent provided in the applicable Award Agreement,
    and to the extent such Restricted Stock Units are forfeited, all rights of the Participant to such Restricted Stock Units
    shall terminate without further obligation on the part of the Company; and (B) such other terms and conditions as may be set
    forth in the applicable Award Agreement.
	 	 	 
	 	(iii)	The
    Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock and Restricted Stock Units
    whenever it may determine that, by reason of changes in Applicable Laws or other changes in circumstances arising after the
    date the Restricted Stock or Restricted Stock Units are granted, such action is appropriate.

 

	 	(d)	Restricted
    Period. With respect to Restricted Awards, the Restricted Period shall commence on the Grant Date and end at the time
    or times set forth on a schedule established by the Committee in the applicable Award Agreement.

 

    	 

    	-21-

    

 

	 	(e)	Delivery
    of Restricted Stock and Settlement of Restricted Stock Units. No Restricted Award may be granted or settled for a fraction
    of a Share. The Committee may, but shall not be required to, provide for an acceleration of vesting in the terms of any Award
    Agreement upon the occurrence of a specified event. Upon the expiration of the Restricted Period with respect to any shares
    of Restricted Stock, the restrictions set forth in Section 8.2(c) and the applicable Award Agreement shall be of no further
    force or effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow arrangement
    is used, upon such expiration, the Company shall deliver to the Participant, or his or her beneficiary, without charge, the
    stock certificate evidencing the shares of Restricted Stock which have not then been forfeited and with respect to which the
    Restricted Period has expired (to the nearest full share) and any cash dividends or stock dividends credited to the Participant’s
    account with respect to such Restricted Stock and the interest thereon, if any. Upon the expiration of the Restricted Period
    with respect to any outstanding Restricted Stock Units, the Company shall deliver to the Participant, or its beneficiary,
    without charge, one Share for each such outstanding Restricted Stock Unit (“Vested Unit”) and cash equal
    to any Dividend Equivalents credited with respect to each such Vested Unit in accordance with Section 8.2(b)(ii) hereof and
    the interest thereon or, at the discretion of the Committee, in Shares having a Fair Market Value equal to such Dividend Equivalents
    and the interest thereon, if any; provided, however, that, if explicitly provided in the applicable Award Agreement, the Committee
    may, in its sole discretion, elect to pay cash or part cash and part Shares in lieu of delivering only Shares for Vested Units.
    If a cash payment is made in lieu of delivering Shares, the amount of such payment shall be equal to the Fair Market Value
    of the Shares as of the date on which the Restricted Period lapsed with respect to each Vested Unit.
	 	 	 
	 	(f)	Share
    Restrictions. Each certificate representing Restricted Stock awarded under the Plan shall bear a legend in such form as
    the Company deems appropriate.

 

8.3
Performance Compensation Awards.

 

	 	(a)	General.
    The Committee shall have the authority, at the time of grant of any Award (other than Options and Stock Appreciation Rights),
    to designate such Award as a Performance Compensation Award in order to qualify such Award as “performance-based compensation”
    under Section 162(m) of the Code. In addition, the Committee shall have the authority to make an Award of a cash bonus to
    any Participant and designate such Award as a Performance Compensation Award in order to qualify such Award as “performance-based
    compensation” under Section 162(m) of the Code.
	 	 	 
	 	(b)	Eligibility.
    The Committee will, in its sole discretion, designate within the first 90 days of a Performance Period (or, if longer or shorter,
    within the maximum period allowed under Section 162(m) of the Code), which Participants will be eligible to receive Performance
    Compensation Awards in respect of such Performance Period. However, designation of a Participant eligible to receive an Award
    hereunder for a Performance Period shall not in any manner entitle the Participant to receive payment in respect of any Performance
    Compensation Award for such Performance Period. The determination as to whether or not such Participant becomes entitled to
    payment in respect of any Performance Compensation Award shall be decided solely in accordance with the provisions of this
    Section 8.3. Moreover, designation of a Participant eligible to receive an Award hereunder for a particular Performance Period
    shall not require designation of such Participant eligible to receive an Award hereunder in any subsequent Performance Period
    and designation of one Person as a Participant eligible to receive an Award hereunder shall not require designation of any
    other Person as a Participant eligible to receive an Award hereunder in such period or in any other period.

 

    	 

    	-22-

    

 

	 	(c)	Discretion
    of Committee with Respect to Performance Compensation Awards. With regard to a particular Performance Period, the Committee
    shall have full discretion to select the length of such Performance Period (provided any such Performance Period shall be
    not less than one fiscal quarter in duration), the type(s) of Performance Compensation Awards to be issued, the Performance
    Criteria that will be used to establish the Performance Goal(s), the kind(s) and/or level(s) of the Performance Goal(s) that
    is (are) to apply to the Company and the Performance Formula. Within the first 90 days of a Performance Period (or, if longer
    or shorter, within the maximum period allowed under Section 162(m) of the Code), the Committee shall, with regard to the Performance
    Compensation Awards to be issued for such Performance Period, exercise its discretion with respect to each of the matters
    enumerated in the immediately preceding sentence of this Section 8.3(c) and record the same in writing.
	 	 	 
	 	(d)	Payment
    of Performance Compensation Awards

 

	 	(i)	Condition
    to Receipt of Payment. Unless otherwise provided in the applicable Award Agreement, a Participant must be employed by
    the Company on the last day of a Performance Period to be eligible for payment in respect of a Performance Compensation Award
    for such Performance Period.
	 	 	 
	 	(ii)	Limitation.
    A Participant shall be eligible to receive payment in respect of a Performance Compensation Award only to the extent that:
    (A) the Performance Goals for such period are achieved; and (B) the Performance Formula as applied against such Performance
    Goals determines that all or some portion of such Participant’s Performance Compensation Award has been earned for the
    Performance Period.
	 	 	 
	 	(iii)	Certification.
    Following the completion of a Performance Period, the Committee shall review and certify in writing whether, and to what extent,
    the Performance Goals for the Performance Period have been achieved and, if so, calculate and certify in writing the amount
    of the Performance Compensation Awards earned for the period based upon the Performance Formula. The Committee shall then
    determine the actual size of each Participant’s Performance Compensation Award for the Performance Period and, in so
    doing, may apply Negative Discretion in accordance with Section 8.3(d)(iv) hereof, if and when it deems appropriate.

 

    	 

    	-23-

    

 

	 	(iv)	Use
    of Discretion. In determining the actual size of an individual Performance Compensation Award for a Performance Period,
    the Committee may reduce or eliminate the amount of the Performance Compensation Award earned under the Performance Formula
    in the Performance Period through the use of Negative Discretion if, in its sole judgment, such reduction or elimination is
    appropriate. The Committee shall not have the discretion to: (A) grant or provide payment in respect of Performance Compensation
    Awards for a Performance Period if the Performance Goals for such Performance Period have not been attained or (B) increase
    a Performance Compensation Award above the maximum amount payable under Section 8.3(d)(i) of the Plan.
	 	 	 
	 	(v)	Timing
    of Award Payments. Performance Compensation Awards granted for a Performance Period shall be paid to Participants as soon
    as administratively practicable following completion of the certifications required by this Section 8.3.

 

9.
Compliance

 

9.1
Compliance with Applicable Laws. Each Award Agreement shall provide that no Shares shall be purchased or sold thereunder
unless and until: (a) any then applicable requirements of Applicable Laws have been fully complied with to the satisfaction of
the Company and its counsel; and (b) if required to do so by the Company, the Participant has executed and delivered to the Company
a letter of investment intent in such form and containing such provisions as the Committee may require. The Company shall use
reasonable efforts to seek to obtain from each regulatory commission or agency having jurisdiction over this Plan such authority
as may be required to grant Awards and to issue and sell Shares upon exercise of the Awards; provided, however, that this undertaking
shall not require the Company to register under the Securities Act the Plan, any Award or any Shares issued or issuable pursuant
to any such Award. If, after reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency
the authority which counsel for the Company deems necessary for the lawful issuance and sale of Shares under this Plan, the Company
shall be relieved from any liability for failure to issue and sell Shares upon exercise of such Awards unless and until such authority
is obtained.

 

10.
Use of Proceeds

 

10.1
Proceeds from the sale of Shares issued pursuant to Awards, or upon exercise thereof, shall constitute general funds of the Company.

 

    	 

    	-24-

    

 

11.
Miscellaneous

 

11.1
Acceleration of Exercisability and Vesting. The Committee shall have the power to accelerate the time at which an Award
may first be exercised or the time during which an Award or any part thereof will vest in accordance with this Plan, notwithstanding
the provisions in the Award stating the time at which it may first be exercised or the time during which it will vest.

 

11.2
Shareholder Rights. Except as provided in this Plan or an Award Agreement, no Participant shall be deemed to be the holder
of, or to have any of the rights of a holder with respect to, any Shares subject to such Award unless and until such Participant
has satisfied all requirements for exercise of the Award pursuant to its terms and no adjustment shall be made for dividends (ordinary
or extraordinary, whether in cash, securities or other property) or distributions of other rights for which the record date is
prior to the date such Share certificate is issued, except as provided in Section 12 hereof.

 

11.3
No Employment or Other Service Rights. Nothing in this Plan or any instrument executed or Award granted pursuant hereto
shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the
time the Award was granted or shall affect the right of the Company or an Affiliate to terminate: (a) the employment of an Employee
with or without notice and with or without Cause; or (b) the service of a Director pursuant to the by-laws of the Company or an
Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated,
as the case may be.

 

11.4
Transfer; Approved Leave of Absence. For purposes of this Plan, no termination of employment by an Employee shall be deemed
to result from either: (a) a transfer to the employment of the Company from an Affiliate or from the Company to an Affiliate,
or from one Affiliate to another; or (b) an approved leave of absence for military service or sickness, or for any other purpose
approved by the Company, if the Employee’s right to reemployment is guaranteed either by a statute or by contract or under
the policy pursuant to which the leave of absence was granted or if the Committee otherwise so provides in writing, in either
case, except to the extent inconsistent with Section 409A of the Code if the applicable Award is subject thereto.

 

11.5
Withholding Obligations. To the extent provided by the terms of an Award Agreement and subject to the discretion of the
Committee, the Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition
of Shares under an Award by any of the following means (in addition to the Company’s right to withhold from any compensation
paid to the Participant by the Company) or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company
to withhold Shares from the Shares otherwise issuable to the Participant as a result of the exercise of, or acquisition of Shares
under, the Award, provided, however, that no Shares are withheld with a value exceeding the minimum amount of tax required to
be withheld by law; or (c) delivering to the Company previously owned and unencumbered Shares.

 

    	 

    	-25-

    

 

12.
Adjustments Upon Changes in Stock

 

In
the event of changes in the outstanding Shares or in the capital structure of the Company by reason of any stock or extraordinary
cash dividend, stock split, reverse stock split, an extraordinary corporate transaction such as any recapitalization, reorganization,
merger, consolidation, combination, exchange, or other relevant change in capitalization occurring after the Grant Date of any
Award, Awards granted under this Plan and any Award Agreements, the exercise price of Options and Stock Appreciation Rights, and
the maximum number of Shares underlying all Awards stated in Section 5, will be equitably adjusted or substituted, as to the number,
price or kind of a Share or other consideration subject to such Awards to the extent necessary to preserve the economic intent
of such Award. In the case of adjustments made pursuant to this Section 12, unless the Committee specifically determines that
such adjustment is in the best interests of the Company or any Affiliate, the Committee shall, in the case of Incentive Stock
Options, ensure that any adjustments under this Section 12 will not constitute a modification, extension or renewal of the Incentive
Stock Options within the meaning of Section 424(h)(3) of the Code, and in the case of Non-qualified Stock Options, ensure that
any adjustments under this Section 12 will not constitute a modification of such Non-qualified Stock Options within the meaning
of Section 409A of the Code. Any adjustments made under this Section 12 shall be made in a manner which does not adversely affect
the exemption provided pursuant to Rule 16b-3 under the Exchange Act. Further, with respect to Awards intended to qualify as “performance-based
compensation” under Section 162(m) of the Code, any adjustments or substitutions will not cause the Company to be denied
a tax deduction on account of Section 162(m) of the Code. The Company shall give each Participant notice of an adjustment hereunder
and, upon notice, such adjustment shall be conclusive and binding for all purposes.

 

13.
Effect of Change in Control

 

13.1
Unless otherwise provided in an Award Agreement, notwithstanding any provision of this Plan to the contrary:

 

	 	(a)	in
    the event of a Change in Control, all Options and Stock Appreciation Rights shall become immediately exercisable with respect
    to 100% of the Shares subject to such Options or Stock Appreciation Rights, and/or the Restricted Period shall expire immediately
    with respect to 100% of the Shares of Restricted Stock or Restricted Stock Unit; and
	 	 	 
	 	(b)	with
    respect to Performance Compensation Awards, in the event of a Change in Control, all Performance Goals or other vesting criteria
    will be deemed achieved at 100% of target levels and all other terms and conditions will be deemed met.

 

To
the extent practicable, any actions taken by the Committee under subsections (a) and (b) shall occur in a manner and at a time
which allows affected Participants the ability to participate in the Change in Control with respect to the Shares underlying their
Awards.

 

13.2
In addition, in the event of a Change in Control, the Committee may, in its discretion and upon at least 10 days’ advance
notice to the affected Persons, cancel any outstanding Awards and pay to the holders thereof, in cash or stock, or any combination
thereof, the value of such Awards based upon the price per Share received or to be received by other Shareholders in connection
therewith. In the case of any Option or Stock Appreciation Right with an exercise price (or SAR Exercise Price in the case of
a Stock Appreciation Right) that equals or exceeds the price paid for a Share in connection with the Change in Control, the Committee
may cancel the Option or Stock Appreciation Right without the payment of consideration therefor.

 

    	 

    	-26-

    

 

13.3
The obligations of the Company under this Plan shall be binding upon any successor corporation or organization resulting from
the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding
to all or substantially all of the assets and business of the Company and its Affiliates, taken as a whole.

 

14.
Amendment of Plan and Awards

 

14.1
Amendment of Plan. The Board at any time, and from time to time, may amend or terminate this Plan. However, except as provided
in Section 12 relating to adjustments upon changes in Shares and Section 14.3, no amendment shall be effective unless approved
by the Shareholders (to the extent Shareholder approval is necessary to satisfy any Applicable Laws). At the time of such amendment,
the Board shall determine, upon advice from counsel, whether such amendment will be contingent on Shareholder approval.

 

14.2
Shareholder Approval. The Board may, in its sole discretion, submit any other amendment to this Plan for Shareholder approval,
including, amendments to this Plan intended to satisfy the requirements of Section 162(m) of the Code and the regulations thereunder
regarding the exclusion of performance-based compensation from the limit on corporate deductibility of compensation paid to certain
executive officers.

 

14.3
Contemplated Amendments. It is expressly contemplated that the Board may amend this Plan in any respect the Board deems
necessary or advisable to provide eligible Employees, Consultants and Directors with the maximum benefits provided or to be provided
under the provisions of the Code and the regulations promulgated thereunder relating to Incentive Stock Options or to the nonqualified
deferred compensation provisions of Section 409A of the Code and/or to bring the Plan and/or Awards granted under it into compliance
therewith.

 

14.4
No Impairment of Rights. Rights under any Award granted before amendment of this Plan shall not be impaired by any amendment
of this Plan unless: (a) the Company requests the consent of the Participant; and (b) the Participant consents in writing.

 

14.5
Amendment of Awards. The Committee at any time, and from time to time, may amend the terms of any one or more Awards; provided,
however, that the Committee may not affect any amendment which would otherwise constitute an impairment of the rights under any
Award unless: (a) the Company requests the consent of the Participant; and (b) the Participant consents in writing.

 

    	 

    	-27-

    

 

15.
General Provisions

 

15.1
Forfeiture Events. The Committee may specify in an Award Agreement that the Participant’s rights, payments and benefits
with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain
events, in addition to applicable vesting conditions of an Award. Such events may include, without limitation, breach of non-competition,
non-solicitation, confidentiality, or other restrictive covenants that are contained in the Award Agreement or otherwise applicable
to the Participant, a termination of the Participant’s Continuous Service for Cause, or other conduct by the Participant
that is detrimental to the business or reputation of the Company and/or any Affiliate.

 

15.2
Clawback. Notwithstanding any other provisions in this Plan, any Award which is subject to recovery under any Applicable
Laws will be subject to such deductions and clawback as may be required to be made pursuant to such Applicable Laws (or any policy
adopted by the Company pursuant to any such Applicable Laws).

 

15.3
Other Compensation Arrangements. Nothing contained in this Plan shall prevent the Board from adopting other or additional
compensation arrangements, subject to Shareholder approval if such approval is required, and such arrangements may be either generally
applicable or applicable only in specific cases.

 

15.4
Sub-plans. The Committee may from time to time establish sub-plans under the Plan for purposes of satisfying blue sky,
securities, tax or other laws of various jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain
such limitations and other terms and conditions as the Committee determines are necessary or desirable. All sub-plans shall be
deemed a part of this Plan, but each sub-plan shall apply only to the Participants in the jurisdiction for which the sub-plan
was designed.

 

15.5
Deferral of Awards. The Committee may establish one or more programs under this Plan to permit selected Participants the
opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other
event that absent the election would entitle the Participant to payment or receipt of Shares or other consideration under an Award.
The Committee may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual
of interest or other earnings, if any, on amounts, shares or other consideration so deferred, and such other terms, conditions,
rules and procedures that the Committee deems advisable for the administration of any such deferral program.

 

15.6
Unfunded Plan. This Plan shall be unfunded. Neither the Company, the Board nor the Committee shall be required to establish
any special or separate fund or to segregate any assets to assure the performance of its obligations under this Plan.

 

15.7
Delivery. Upon exercise of a right granted under this Plan, the Company shall issue Shares or pay any amounts due within
a reasonable period of time thereafter. Subject to any statutory or regulatory obligations the Company may otherwise have, for
purposes of this Plan, 30 days shall be considered a reasonable period of time.

 

15.8
No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to this Plan. The Committee shall determine
whether cash, additional Awards or other securities or property shall be issued or paid in lieu of fractional Shares or whether
any fractional Shares should be rounded, forfeited or otherwise eliminated.

 

    	 

    	-28-

    

 

15.9
Other Provisions. The Award Agreements authorized under this Plan may contain such other provisions not inconsistent with
this Plan, including, without limitation, restrictions upon the exercise of the Awards, as the Committee may deem advisable.

 

15.10
Section 409A. This Plan is intended to comply with Section 409A of the Code to the extent subject thereto, and, accordingly,
to the maximum extent permitted, this Plan shall be interpreted and administered to be in compliance therewith. Any payments described
in this Plan that are due within the “short-term deferral period” as defined in Section 409A of the Code shall not
be treated as deferred compensation unless Applicable Laws require otherwise. Notwithstanding anything to the contrary in this
Plan, to the extent required to avoid accelerated taxation and tax penalties under Section 409A of the Code, amounts that would
otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six month period immediately
following the Participant’s termination of Continuous Service shall instead be paid on the first payroll date after the
six month anniversary of the Participant’s separation from service (or the Participant’s death, if earlier). Notwithstanding
the foregoing, neither the Company nor the Committee shall have any obligation to take any action to prevent the assessment of
any excise tax or penalty on any Participant under Section 409A of the Code, and neither the Company nor the Committee will have
any liability to any Participant for such tax or penalty.

 

15.11
Disqualifying Dispositions. Any Participant who shall make a “disposition” (as defined in Section 424 of the
Code) of all or any portion of the Shares acquired upon exercise of an Incentive Stock Option within two years from the Grant
Date of such Incentive Stock Option or within one year after the issuance of the Shares acquired upon exercise of such Incentive
Stock Option (a “Disqualifying Disposition”) shall be required to immediately advise the Company in writing
as to the occurrence of the sale and the price realized upon the sale of such Shares.

 

15.12
Section 16. It is the intent of the Company that this Plan satisfy, and be interpreted in a manner that satisfies, the
applicable requirements of Rule 16b-3 as promulgated under Section 16 of the Exchange Act so that Participants will be entitled
to the benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing
liability under Section 16 of the Exchange Act. Accordingly, if the operation of any provision of this Plan would conflict with
the intent expressed in this Section 15.12, such provision to the extent possible shall be interpreted and/or deemed amended so
as to avoid such conflict.

 

15.13
Section 162(m). To the extent the Committee issues any Award that is intended to be exempt from the deduction limitation
of Section 162(m) of the Code, the Committee may, without shareholder or grantee approval, amend this Plan or the relevant Award
Agreement retroactively or prospectively to the extent it determines necessary in order to comply with any subsequent clarification
of Section 162(m) of the Code required to preserve the Company’s federal income tax deduction for compensation paid pursuant
to any such Award.

 

15.14
Beneficiary Designation. Each Participant may from time to time name any beneficiary or beneficiaries by whom any right
under this Plan is to be exercised in case of such Participant’s death. Each designation will revoke all prior designations
by the same Participant, shall be in a form reasonably prescribed by the Committee, and shall be effective only when filed by
the Participant in writing with the Company during the Participant’s lifetime.

 

    	 

    	-29-

    

 

15.15
Expenses. The costs of administering this Plan shall be paid by the Company.

 

15.16
Severability. If any of the provisions of this Plan or any Award Agreement is held to be invalid, illegal or unenforceable,
whether in whole or in part, such provision shall be deemed modified to the extent, but only to the extent, of such invalidity,
illegality or unenforceability and the remaining provisions shall not be affected thereby.

 

15.17
Plan Headings. The headings in this Plan are for purposes of convenience only and are not intended to define or limit the
construction of the provisions hereof.

 

15.18
Non-Uniform Treatment. The Committee’s determinations under this Plan need not be uniform and may be made by it selectively
among persons who are eligible to receive, or actually receive, Awards. Without limiting the generality of the foregoing, the
Committee shall be entitled to make non-uniform and selective determinations, amendments and adjustments, and to enter into non-uniform
and selective Award Agreements.

 

16.
Effective Date of Plan

 

16.1
This Plan shall become effective as of the Effective Date, but no Award shall be exercised (or, in the case of a stock Award,
shall be granted) unless and until this Plan has been approved by the Shareholders, which approval shall be within 12 months before
or after the date this Plan is adopted by the Board.

 

17.
Termination or Suspension of this Plan

 

17.1
This Plan shall terminate automatically on October 15, 2027. No Award shall be granted pursuant to this Plan after such date,
but Awards granted before may extend beyond that date. The Board may suspend or terminate this Plan at any earlier date pursuant
to Section 14.1 hereof. No Awards may be granted under this Plan while this Plan is suspended or after it is terminated. Unless
the Company determines to submit Section 8.3 of this Plan and the definition of “Performance Goal” and “Performance
Criteria” to the Shareholders at the first Shareholder meeting that occurs in the fifth year following the year in which
this Plan was last approved by Shareholders (or any earlier meeting designated by the Board), in accordance with the requirements
of Section 162(m) of the Code, and such Shareholder approval is obtained, then no further Performance Compensation Awards shall
be made to Covered Employees under Section 8.3 after the date of such annual meeting, but this Plan may continue in effect for
Awards to Participants not in accordance with Section 162(m) of the Code.

 

18.
Choice of Law

 

18.1
The law of the State of Nevada shall govern all questions concerning the construction, validity and interpretation of this Plan,
without regard to such state’s conflict of law rules.

 

As
adopted by the Board of Directors of ICOX Innovations Inc. on October 15, 2017, as amended on January 22, 2018.

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