Document:

Exhibit 10.2

 

LOCAFY
Limited

ACN 136 737 767

 

(Company)

 

INCENTIVE
PERFORMANCE RIGHTS PLAN

 

 

    	 

     

    

 

Table
of Contents

 

	1.	DEFINITIONS AND INTERPRETATION	1
	 	 	 	 
	 	1.1	Definitions	1
	 	1.2	Interpretation	5
	 	 	 	 
	2.	PurposE	6
	 	 	 	 
	3.	COMMENCEMENT AND TERM	7
	 	 	 	 
	4.	OFFER OF PERFORMANCE RIGHTS	7
	 	 	 	 
	 	4.1	Offer	7
	 	4.2	Offer
    Document	7
	 	4.3	Personal
    Offer	7
	 	4.4	Nominee	7
	 	4.5	Minimum
    Contents of Offer Document	8
	 	4.6	Number
    of Performance Rights	8
	 	4.7	No
    Consideration	8
	 	4.8	Vesting
    Conditions	8
	 	4.9	Share
    Restriction Period	8
	 	4.10	Deferred
    Taxation	8
	 	4.11	Quotation
    of Performance Rights	8
	 	4.12	Limit
    on Offers	9
	 	 	 	 
	5.	ACCEPTANCE OF OFFER	9
	 	 	 	 
	 	5.1	Acceptance
    of Offer	9
	 	5.2	Board’s
    right to reject	9
	 	5.3	Participant
    Agrees to be Bound	9
	 	5.4	Lapse
    of Offer	9
	 	 	 	 
	6.	GRANT OF PERFORMANCE RIGHTS	10
	 	 	 	 
	 	6.1	Grant
    of Performance Rights	10
	 	6.2	Approvals	10
	 	6.3	Restrictions
    on Transfers, Dealings and Hedging	10
	 	 	 	
	7.	VESTING AND EXERCISE of Performance Rights	10
	 	 	 	 
	 	7.1	Vesting
    Conditions	10
	 	7.2	Vesting
    Condition Exceptions	11
	 	7.3	Exercise
    on Vesting	11
	 	7.4	One
    or Several Parcels	11
	 	 	 	 
	8.	issue/TRANSFER of shares OR CASH PAYMENT	11
	 	 	 	 
	 	8.1	Issue/transfer
    of Shares	11
	 	8.2	Cash
    Payment Facility	12
	 	8.3	Blackout
    Period, Takeover Restrictions and Insider Trading	12
	 	8.4	Withholding	12
	 	8.5	Rights
    attaching to Shares	12
	 	8.6	Share
    ranking	13
	 	8.7	Quotation
    on ASX or NSX	13
	 	8.8	Sale
    of Shares	13
	 	 	 	 
	9.	Restriction on Dealing in Shares	13
	 	 	 	 
	 	9.1	Restriction
    Period	13
	 	9.2	Waiver
    of Restriction Period	14
	 	9.3	No
    disposal of Restricted Shares	14
	 	9.4	ASX
    or NSX Imposed Escrow	14
	 	9.5	Enforcement
    of Restriction Period	14
	 	9.6	Lapse
    of Restriction Period	14

 

    	i

     

    

 

	10.	Lapse of Performance Rights	14
	 	 	 	 
	 	10.1	Lapsing
    of Performance Right	14
	 	10.2	Fraud
    and Related Matters	15
	 	 	 	 
	11.	ExCHANGE DUE TO CHANGE OF CONTROL	16
	 	 	 	 
	12.	PArticipation rights AND reORGANISATION	16
	 	 	 	 
	 	12.1	Participation
    Rights	16
	 	12.2	Adjustment
    for Reorganisation	16
	 	12.3	Notice
    of Adjustments	16
	 	12.4	Cumulative
    Adjustments	16
	 	 	 	 
	13.	OVERRIDING RESTRICTIONS ON ISSUE AND EXERCISE	17
	 	 	 	 
	14.	amendments	17
	 	 	 	 
	 	14.1	Power
    to amend Plan	17
	 	14.2	Adjustment
    to Performance Right Terms	17
	 	14.3	Notice
    of amendment	18
	 	 	 	 
	15.	Trust	18
	 	 	 	 
	16.	miscellaneous	18
	 	 	 	 
	 	16.1	Rights
    and obligations of Participant	18
	 	16.2	Power
    of the Board	19
	 	16.3	Dispute
    or disagreement	19
	 	16.4	ASIC
    relief	20
	 	16.5	Non-residents
    of Australia	20
	 	16.6	Communication	20
	 	16.7	Attorney	21
	 	16.8	Costs
    and Expenses	21
	 	16.9	Adverse
    Tax	21
	 	16.10	Data
    protection	21
	 	16.11	Error
    in Allocation	22
	 	16.12	No
    fiduciary capacity	22
	 	16.13	Listing
    Rules	22
	 	16.14	Enforcement	22
	 	16.15	Laws
    governing Plan	22
	 	 	 	 
	Schedule 1 – performance rights plan – OFFER DOCUMENT	23
	 	 	 	 
	Schedule 2 – performance rights plan Application Form	25
	 	 	 	 
	SCHEDULE 3 – Notice of exercise of PERFORMANCE RIGHTS	27

 

    	ii

     

    

 

LOCAFY
Limited

 

INCENTIVE
PERFORMANCE RIGHTS PLAN

 

The
Directors are empowered to operate the Locafy Limited Incentive Performance Rights Plan (Plan) on the following terms and in accordance
with the Listing Rules (where applicable).

 

 

	1.	DEFINITIONS
    AND INTERPRETATION

 

	1.1	Definitions

 

For
the purposes of the Plan, the following words have the following meanings.

 

Application
Form means the Application Form by which an Eligible Participant or Nominee (as applicable) applies for Performance Rights in response
to an Offer for Performance Rights, in substantially the same form as set out in Schedule 2 or as otherwise approved by the Company from
time to time.

 

ASIC
means the Australian Securities and Investments Commission.

 

Associated
Body Corporate means:

 

	 	(a)	a
    related body corporate (as defined in the Corporations Act) of the Company;
	 	 	 
	 	(b)	a
    body corporate which has an entitlement to not less than 20% of the voting Shares of the Company; and
	 	 	 
	 	(c)	a
    body corporate in which the Company has an entitlement to not less than 20% of the voting shares.

 

Blackout
Period means a period when the Participant is prohibited from trading in the Company’s securities by the Company’s written
policies.

 

Board
means the board of Directors of the Company or committee appointed by the Board for the purposes
of the Plan.

 

Business
Day means those days other than a Saturday, Sunday or public holiday in the State and any other day which the Nasdaq shall declare
and publish is not a business day.

 

Cash
Payment means, in respect of a vested Performance Right, except as otherwise provided for in the
Offer for that Performance Right, a cash amount equal to the current Market Value of a Share.

 

Cash
Payment Facility has the meaning given to it in Rule 8.2.

 

Change
of Control means:

  

	 	(a)	a
    bona fide Takeover Bid is declared unconditional and the bidder has acquired a Relevant Interest in at least 50.1% of the Company’s
    issued Shares;
	 	 	 
	 	(b)	a
    court approves, under Section 411(4)(b) of the Corporations Act, a proposed compromise or arrangement for the purposes of, or in
    connection with, a scheme for the reconstruction of the Company or its amalgamation with any other company or companies; or

 

    	1

     

    

 

		(c)	in
                                            any other case, a person obtains Voting Power in the Company which the Board (which for the
                                            avoidance of doubt will comprise those Directors immediately prior to the person acquiring
                                            that Voting Power) determines, acting in good faith and in accordance with their fiduciary
                                            duties, is sufficient to control the composition of the Board

 

Class
Order means ASIC Class Order 14/1000 as amended or replaced.

 

Closing
Date means the date on which an Offer is stated to close.

 

Company
means Locafy Limited (ACN 136 737 767).

 

Constitution
means the constitution of the Company from time to time.

 

Corporations
Act means the Corporations Act 2001 (Cth).

 

Director
means any person occupying the position of a director of any Group Company (including an alternate director or managing director
appointed in accordance with the relevant constitution).

 

Dispose
means, in relation to a Share or Performance Right:

 

	 	(a)	sell,
    assign, buy-back, redeem, transfer, convey, grant an option over, grant or allow a Security Interest over;
	 	 	 
	 	(b)	enter
    into any swap arrangement, any derivative arrangements or other similar arrangement; or
	 	 	 
	 	(c)	otherwise
    directly or indirectly dispose of a legal, beneficial or economic interest in the Share or Performance
    Right,

 

(and
Disposal has a corresponding meaning).

 

Eligible
Participant means:

 

	 	(a)	a
    Director (whether executive or non-executive) of any Group Company;
	 	 	 
	 	(b)	a
    full or part time employee of any Group Company;
	 	 	 
	 	(c)	a
    casual employee or contractor of a Group Company (but, if the Class Order is being relied on, only
    to the extent permitted by the Class Order); or
	 	 	 
	 	(d)	a
    prospective participant, being a person to whom the Offer is made but who can only accept
    the Offer if an arrangement has been entered into that will result in the person becoming an Eligible Participant under Rules (a),
    (b) or (c) above,

 

who
is declared by the Board to be eligible to receive grants of Performance Rights under the Plan.

 

Expiry
Date means, in respect of a Performance Right, the date on which the Performance Right lapses (if it has not already otherwise lapsed
in accordance with the Plan).

 

Grant
Date means, in relation to a Performance Right, the date on which the Performance Right is granted.

 

    	2

     

    

 

Group
means the Company and each other Associated Body Corporate.

 

Group
Company means the Company or any Associated Body Corporate.

 

Holding
Lock means a facility that prevents Shares from being deducted from or entered into a holding pursuant to a transfer or conversion.

 

Listing
Rules means the listing rules of Nasdaq and any other rules of Nasdaq which apply while the Company is admitted to the Nasdaq, each
rule as amended or replaced from time to time, except to the extent of any express written waiver by Nasdaq.

 

Market
Value, in respect of a Share, means:

 

	 	(a)	where
    the Company is not listed on Nasdaq, the more recent of:

 

	 	(i)	the
    most recent cash or cash equivalent price at which Shares were issued or sold for valuable consideration in a bona fide, arms’
    length transaction (not being Shares issued under this Plan); and
	 	 	 
	 	(ii)	the
    market value of a Share as determined by the Company, acting reasonably, such valuation being no less than twelve (12) months old
    as at the date the Market Value is to be determined; or

 

	 	(b)	where
    the Company is listed on Nasdaq, the volume weighted average market price for Shares traded on Nasdaq over the 10 most recent trading
    days on which the Shares were traded prior to the day on which the Market Value is to be determined.

 

Nasdaq
means The Nasdaq Stock Market LLC.

 

Nominee
means a nominee of an Eligible Participant that is one of the following:

 

	 	(a)	an
    immediate family member of the Eligible Participant or (subject to Board approval) a trustee of an Eligible Participant’s family
    trust whose beneficiaries are limited to the Eligible Participant and/or the Eligible Participant’s immediate family members;
	 	 	 
	 	(b)	a
    company whose members comprise no persons other than the Eligible Participant or immediate family members of the participant; or
	 	 	 
	 	(c)	a
    corporate trustee of a self-managed superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993)
    where the Eligible Participant is a director of the trustee.

 

Offer
means an invitation to treat made to an Eligible Participant to be granted one or more Performance Rights under the Plan as set out
in an Offer Document.

 

Offer
Document means an offer document in substantially the same form as set out in Schedule 1 to this Plan, or such other form as approved
by the Board from time to time consistent with the Corporations Act (and the Class Order to the extent it is being relied upon).

 

Participant
means an Eligible Participant to whom Performance Rights have been granted under the Plan or, if Rule 4.4 applies, a Nominee of the
Eligible Participant to whom Performance Rights have been granted under the Plan.

 

    	3

     

    

 

Performance
Right means a right to be issued or transferred into a Share (or paid a Cash Payment),
upon and subject to the terms of these Rules and the terms of any applicable Offer.

 

Plan
means the plan as set out in this document, subject to any amendments or additions made under Rule 14.

 

Redundancy
means termination of the employment, office or engagement of a Relevant Person due to economic, technological, structural or other
organisational change where:

 

	 	(a)	no
    Group Company requires the duties and responsibilities carried out by the Relevant Person to be carried out by anyone; or
	 	 	 
	 	(b)	no
    Group Company requires the position held by the Relevant Person to be held by anyone.

 

Relevant
Interest has the meaning given in the Corporations Act.

 

Relevant
Person means:

 

	 	(a)	in
    respect of an Eligible Participant, that person; and
	 	 	 
	 	(b)	in
    respect of a Nominee of an Eligible Participant, that Eligible Participant.

 

Restricted
Shares means Shares issued on the exercise of a Performance Right granted under the Plan that the Board has determined are subject
to a Restriction Period.

 

Restriction
Period means the period during which a Share issued on the exercise of a Performance Right cannot be transferred or otherwise dealt
with in accordance with Rule 9.

 

Retirement
means where a Relevant Person intends to permanently cease all gainful employment in circumstances where the Relevant Person provides,
in good faith, a written statutory declaration to the Board to that effect.

 

Round
Lot has the meaning given to that term in the Listing Rules.

 

Rules
means the rules of the Plan set out in this document.

 

Security
Interest means an interest or power:

 

	 	(a)	reserved
    in or over an interest in any asset including any retention of title; or
	 	 	 
	 	(b)	created
    or otherwise arising in or over any interest in any asset under a security agreement, a bill of sale, mortgage, charge, lien, pledge,
    trust or power,

 

by
way of, or having similar commercial effect to, security for the payment of a debt, any other monetary obligation or the performance
of any other obligation, and includes, but is not limited to:

 

	 	(c)	any
    agreement to grant or create any of the above; and
	 	 	 
	 	(d)	a
    security interest within the meaning of section 12 of the Personal Property Securities Act 2009 (Cth).

 

    	4

     

    

 

Severe
Financial Hardship means that the Relevant Person is unable to provide themselves, their family or other dependents with basic
necessities such as food, accommodation and clothing, including as a result of family tragedy, financial misfortune, serious illness,
impacts of natural disaster and other serious or difficult circumstances.

 

Share
means a fully paid ordinary share in the capital of the Company.

 

Shareholder
means a holder of Shares.

 

Special
Circumstances means:

 

	 	(a)	a
    Relevant Person ceasing to be an Eligible Participant due to:

 

	 	(i)	death
    or Total or Permanent Disability of a Relevant Person; or
	 	 	 
	 	(ii)	Retirement
    or Redundancy of a Relevant Person;

 

	 	(b)	a
    Relevant Person suffering Severe Financial Hardship;
	 	 	 
	 	(c)	any
    other circumstance stated to constitute “Special Circumstances” in the terms of the relevant Offer made to and accepted
    by the Participant; or
	 	 	 
	 	(d)	any
    other circumstances determined by the Board at any time (whether before or after the Offer) and notified to the relevant Participant
    which circumstances may relate to the Participant, a class of Participant, including the Participant or particular circumstances
    or class of circumstances applying to the Participant.

 

State
means Western Australia.

 

Takeover
Bid means a takeover bid (as defined in the Corporations Act) to acquire Shares.

 

Total
and Permanent Disability means that the Relevant Person has, in the opinion of the Board, after considering such medical and other
evidence as it sees fit, become incapacitated to such an extent as to render the Relevant Person unlikely ever to engage in any occupation
with the Company or its Associated Bodies Corporate for which he or she is reasonably qualified by education, training or experience.

 

Vesting
Condition means, in respect of a Performance Right, any condition set out in the Offer which must be satisfied (unless waived in
accordance with the Plan) before that Performance Right can be exercised or any other restriction on exercise of that Performance Right
specified in the Offer or in this Plan.

 

Voting
Power has the meaning given to that term in Section 9 of the Corporations Act.

 

	1.2	Interpretation

 

In
this Plan unless the context otherwise requires:

 

	 	(a)	headings
    are for convenience only and do not affect the interpretation of this Plan;

 

    	5

     

    

 

	 	(b)	any
    reference in the Plan to any enactment of the Listing Rules, as applicable, includes a reference to that enactment or those Listing
    Rules as from time to time amended, consolidated, re-enacted or replaced;
	 	 	 
	 	(c)	the
    singular includes the plural and vice versa;
	 	 	 
	 	(d)	any
    words denoting one gender include the other gender;
	 	 	 
	 	(e)	where
    any word or phrase is given a definite meaning in this Plan, any part of speech or other grammatical form of that word or phrase
    has a corresponding meaning;
	 	 	 
	 	(f)	a
    reference to:

 

	 	(i)	a
    person includes a natural person, partnership, joint venture, government agency, association, corporation or other body corporate;
	 	 	 
	 	(ii)	a
    document includes all amendments or supplements to that document;
	 	 	 
	 	(iii)	a
    Rule is a reference to a Rule of this Plan;
	 	 	 
	 	(iv)	a
    law includes a constitutional provision, treaty, decree, convention, statute, regulation, ordinance, by-law, judgment, rule of common
    law or equity and is a reference to that law as amended, consolidated or replaced;
	 	 	 
	 	(v)	an
    agreement other than this Plan includes an undertaking, or legally enforceable arrangement or understanding, whether or not in writing;
    and
	 	 	 
	 	(vi)	a
    monetary amount is in Australian dollars; and

 

	 	(g)	when
    the day on which something must be done is not a Business Day, that thing must be done on the following Business Day.

 

 

	2.	PURPOSE 

 

The
purpose of the Plan is to:

 

	 	(a)	assist
    in the reward, retention and motivation of Eligible Participants;
	 	 	 
	 	(b)	link
    the reward of Eligible Participants to performance and the creation of Shareholder value;
	 	 	 
	 	(c)	align
    the interests of Eligible Participants more closely with the interests of Shareholders by providing an opportunity for Eligible Participants
    to receive Shares;
	 	 	 
	 	(d)	provide
    Eligible Participants with the opportunity to share in any future growth in value of the Company; and
	 	 	 
	 	(e)	provide
    greater incentive for Eligible Participants to focus on the Company’s longer term goals.

 

    	6

     

    

 

	3.	COMMENCEMENT
                                            AND TERM

 

	 	(a)	This
    Plan will commence on the date determined by resolution of the Board and will continue until terminated by the Board.
	 	 	 
	 	(b)	The
    Board may terminate the Plan at any time by resolution. Termination shall not affect the rights or obligations of a Participant or
    the Company which have arisen under the Plan before the date of termination and the provisions of the Plan relating to a Participant’s
    Performance Rights shall survive termination of the Plan until fully satisfied and discharged.

  

	4.	OFFER
                                            OF PERFORMANCE RIGHTS

 

	4.1	Offer

 

	 	(a)	The
    Board may, from time to time, in its absolute discretion, make a written invitation to any Eligible Participant (including an Eligible
    Participant who has previously received an Offer) to apply for Performance Rights, upon the terms set out in the Plan and upon such
    additional terms and conditions as the Board determines (Offer).
	 	 	 
	 	(b)	In
    exercising that discretion, the Board may have regard to the following (without limitation):

 

	 	(i)	the
    Eligible Participant’s length of service with the Group;
	 	 	 
	 	(ii)	the
    contribution made by the Eligible Participant to the Group;
	 	 	 
	 	(iii)	the
    potential contribution of the Eligible Participant to the Group; or
	 	 	 
	 	(iv)	any
    other matter the Board considers relevant.

 

	 	(c)	For
    the avoidance of doubt, nothing in this document obliges the Company at any time to make an Offer, or further Offer, to any Eligible
    Participant.

 

	4.2	Offer
                                            Document

 

An
Offer must be made using an Offer Document.

 

	4.3	Personal
                                            Offer

 

Subject
to Rule 4.4, an Offer is personal and is not assignable.

 

	4.4	Nominee

 

	 	(a)	Upon
    receipt of an Offer, an Eligible Participant may, by notice in writing to the Board, nominate a Nominee in whose favour the Eligible
    Participant wishes to renounce the Offer.
	 	 	 
	 	(b)	The
    Board may, in its discretion, resolve not to allow a renunciation of an Offer in favour of a Nominee without giving any reason for
    that decision.

 

    	7

     

    

 

	4.5	Minimum
                                            Contents of Offer Document

 

An
Offer Document must advise the Eligible Participant of the following minimum information regarding the Performance Rights:

 

	 	(a)	the
    maximum number of Performance Rights that the Eligible Participant may apply for, or the formula for determining the number of Performance
    Rights that may be applied for;
	 	 	 
	 	(b)	the
    maximum number of Shares that the Participant is entitled to be issued or transferred on the exercise of each Performance Right or
    the formula for determining the maximum number of Shares;
	 	 	 
	 	(c)	any
    applicable Vesting Conditions;
	 	 	 
	 	(d)	any
    Restriction Period applied by this Plan or that the Board has resolved to apply to Shares issued on exercise of the Performance Rights;
	 	 	 
	 	(e)	when
    Performance Rights will expire (Expiry Date);
	 	 	 
	 	(f)	the
    date by which an Offer must be accepted (Closing Date); and
	 	 	 
	 	(g)	any
    other information required by law or the Listing Rules or considered by the Board to be relevant to the Performance Rights or the
    Shares to be issued on the exercise of the Performance Rights.

 

	4.6	Number
                                            of Performance Rights

 

	 	(a)	Subject
    to Rule 4.12, the number of Performance Rights to be offered to an Eligible Participant from time to time will be determined by the
    Board in its discretion and in accordance with applicable law and the Listing Rules.
	 	 	 
	 	(b)	Each
    Performance Right will entitle the holder to be issued or transferred one Share (or to be paid a Cash Payment in lieu of the issue
    or transfer of one Share) unless the Plan or an applicable Offer otherwise provides.

 

	4.7	No
                                            Consideration

 

Performance
Rights granted under the Plan will be issued for nil cash consideration.

 

	4.8	Vesting
                                            Conditions

 

A
Performance Right may be made subject to Vesting Conditions as determined by the Board in its discretion and as specified in the Offer
for the Performance Right.

 

	4.9	Share
                                            Restriction Period

 

A
Share issued on exercise of a Performance Right may be subject to a Restriction Period as determined in accordance with Rule 9 of this
Plan.

 

	4.10	Deferred
                                            Taxation

 

Subdivision
83A-C of the Income Tax Assessment Act 1997 applies to the Plan except to the extent an Offer provides otherwise.

 

	4.11	Quotation
                                            of Performance Rights

 

Performance
Rights will not be quoted on Nasdaq, except to the extent provided for by this Plan or unless the Offer provides otherwise.

 

    	8

     

    

 

	4.12	Limit
                                            on Offers

 

Where
the Company has relied or intends relying on the Class Order to make an Offer, the Company must have reasonable grounds to believe, when
making an Offer, that the number of Shares to be received on exercise of Performance Rights offered under an Offer, when aggregated with
the number of Shares issued or that may be issued as a result of offers made in reliance on the Class Order at any time during the previous
3 year period under an employee incentive scheme covered by the Class Order or an ASIC exempt arrangement of a similar kind to an employee
incentive scheme, will not exceed 5% of the total number of Shares on issue at the date of the Offer.

 

	5.	ACCEPTANCE
                                            OF OFFER

 

	5.1	Acceptance
                                            of Offer

 

An
Eligible Participant (or permitted Nominee) may accept an Offer in whole or in part, by signing and returning an Application Form to
the Company no later than the Closing Date.

 

	5.2	Board’s
                                            right to reject

 

	 	(a)	The
    Board may accept or reject any Application Form in its absolute discretion.
	 	 	 
	 	(b)	Before
    accepting or rejecting the Application Form, the Board may require the applicant to provide any information that the Board requests
    concerning the person’s entitlement to lodge an Application Form under this Plan.
	 	 	 
	 	(c)	The
    Board must promptly notify an applicant if an Application Form has been rejected, in whole or in part.

 

	5.3	Participant
                                            Agrees to be Bound

 

	 	(a)	An
    Eligible Participant, by submitting an Application Form, agrees to be bound by the terms and conditions of the Offer and the Application
    Form, the Plan and the Constitution of the Company, as amended from time to time.
	 	 	 
	 	(b)	If
    the Board resolves to allow a renunciation of an Offer in favour of a Nominee, the Eligible Participant will procure that the permitted
    Nominee accepts the Offer made to that Eligible Participant and that both the Eligible Participant and the Nominee agree to be bound
    by the terms and conditions of the Offer and Application Form, the Plan and the Constitution of the Company, as amended from time
    to time.

 

	5.4	Lapse
                                            of Offer

 

To
the extent an Offer is not accepted in accordance with Rule 5.1, the Offer will lapse on the date following the Closing Date, unless
the Board determines otherwise.

 

    	9

     

    

 

	6.	GRANT
                                            OF PERFORMANCE RIGHTS

 

	6.1	Grant
                                            of Performance Rights

 

	 	(a)	Subject
    to Rule 6.2, once the Board has received and approved a duly signed and completed Application Form for Performance Rights, the Company
    must, provided the Eligible Participant to whom the Offer was made remains an Eligible Participant, promptly grant Performance Rights
    to the applicant, upon the terms set out in the Offer, the Application Form and the Plan and upon such additional terms and conditions
    as the Board determines.
	 	 	 
	 	(b)	The
    Company will, within a reasonable period after the Grant Date of the Performance Rights, issue the applicant with a certificate evidencing
    the grant of the Performance Rights.

 

	6.2	Approvals

 

The
Company’s obligation to grant Performance Rights is conditional on:

 

	 	(a)	the
    grant of the Performance Rights complying with all applicable legislation, the Listing Rules and the Constitution; and
	 	 	 
	 	(b)	all
    necessary approvals required under any applicable legislation and the Listing Rules being obtained prior to the grant of the Performance
    Rights.

 

	6.3	Restrictions
                                            on Transfers, Dealings and Hedging

 

	 	(a)	Subject
    to the Listing Rules, as applicable, and except as otherwise provided for by an Offer, a Performance Right granted under the Plan
    is only transferable, assignable or able to be otherwise Disposed:

 

	 	(i)	in
    Special Circumstances with the consent of the Board (which may be withheld in its absolute discretion); or
	 	 	 
	 	(ii)	by
    force of law upon death to the Participant’s legal personal representative or upon bankruptcy to the Participant’s trustee
    in bankruptcy.

 

	 	(b)	A
    Participant must not enter into any arrangement for the purpose of hedging, or otherwise affecting their economic exposure, to their
    Performance Rights.
	 	 	 
	 	(c)	Where
    the Participant purports to transfer, assign, mortgage, charge or otherwise dispose or encumber a Performance Right, other than in
    accordance with Rule 6.3(a), or hedge a Performance Right contrary to Rule 6.3(b), the Performance Right immediately lapses.

 

	7.	VESTING
                                            AND EXERCISE of Performance Rights

 

	7.1	Vesting
                                            Conditions

 

	 	(a)	Subject
    to Rules 7.2 and 7.3, a Performance Right granted under the Plan will not vest and be exercisable unless the Vesting Conditions (if
    any) attaching to that Performance Right have been satisfied, as determined by the Board acting reasonably, and the Board has notified
    the Participant of that fact.
	 	 	 
	 	(b)	The
    Board must notify a Participant in writing within 10 Business Days of becoming aware that any Vesting Condition attaching to a Performance
    Right has been satisfied.

 

    	10

     

    

 

	7.2	Vesting
                                            Condition Exceptions

 

Notwithstanding
Rule 7.1, the Board may in its absolute discretion except in respect of Rule 7.2(b), where (unless an Offer provides otherwise) Vesting
Conditions are deemed to be automatically waived, by written notice to a Participant, resolve to waive any of the Vesting Conditions
applying to Performance Rights due to:

 

	 	(a)	Special
    Circumstances arising in relation to an Eligible Participant;
	 	 	 
	 	(b)	a
    Change of Control occurring; or
	 	 	 
	 	(c)	the
    Company passing a resolution for voluntary winding up, or an order is made for the compulsory winding up of the Company,

 

in
which case Rule 7.3 applies.

 

	7.3	Exercise
                                            on Vesting

 

A
Participant (or their personal legal representative where applicable) may, subject to the terms of this Plan and any Offer, exercise
any vested Performance Right at any time after the Board notifies that the Performance Right has vested and before it lapses by providing
the Company with:

 

	 	(a)	the
    certificate for the Performance Rights or, if the certificate for the Performance Rights has been lost, mutilated or destroyed, a
    declaration to that effect, accompanied by an indemnity in favour of the Company against any loss, costs or expenses which might
    be incurred by the Company as a consequence of its relying on the declaration that the certificate has been lost, mutilated or destroyed;
    and
	 	 	 
	 	(b)	a
    notice in the form of Schedule 3 addressed to the Company and signed by the Participant stating that the Participant exercises the
    Performance Rights and specifying the number of Performance Rights which are exercised.

 

	7.4	One
                                            or Several Parcels

 

Performance
Rights may be exercised in one or more parcels of any size, provided that the number of Shares issued or transferred upon exercise of
the number of Performance Rights in any parcel is not less than a Round Lot.

 

	8.	ISSUE/TRANSFER
                                            OF SHARES OR CASH PAYMENT

 

	8.1	Issue/transfer
                                            of Shares

 

If
the items specified in Rule 7.3 are delivered in accordance with that Rule, and provided the Board has not determined that a Cash Payment
applies, the Company will, subject to the Corporations Act, the Listing Rules, this Plan and any applicable Offer:

 

	 	(a)	within
    10 Business Days of satisfaction of Rule 7.3, issue or transfer to the Participant the Shares credited as being fully paid in respect
    of which the Performance Rights are exercised, together with any additional Shares an entitlement to which has arisen under Rule
    12 in consequence of the exercise of the Performance Rights;

 

    	11

     

    

 

	 	(b)	despatch
    a share certificate or enter the Shares in the Participant’s uncertificated holding, as the case may be, upon the terms set
    out in the Offer, the Application Form and the Plan and upon such additional terms and conditions as the Board determines; and
	 	 	 
	 	(c)	cancel
    the certificate delivered pursuant to Rule 7.3 and, if any Performance Rights which have not lapsed remain unexercised, deliver to
    the Participant a replacement certificate reflecting the number of those Performance Rights which remain unexercised.

 

	8.2	Cash
                                            Payment Facility

 

	 	(a)	Subject
    to the Corporations Act, the Listing Rules, this Plan and the terms of any Offer, where all Vesting Conditions in respect of a Performance
    Right have been satisfied or waived, the Board may, in its absolute discretion, within 10 Business Days of receipt of a valid notice
    of exercise for vested Performance Right, in lieu of issuing or transferring a Share to the Participant on exercise of the Performance
    Right under Rule 8.1, pay the Participant or his or her personal representative (as the case may be) a Cash Payment for the Performance
    Right exercised (which may be nil if the Cash Payment is a negative amount).
	 	 	 
	 	(b)	A
    vested Performance Right automatically lapses upon payment of a Cash Payment in respect of the vested Performance Right.

 

	8.3	Blackout
                                            Period, Takeover Restrictions and Insider Trading

 

If
the issue or transfer of Shares on exercise of a Performance Right would otherwise fall within a Blackout Period, or breach the insider
trading or takeover provisions of the Corporations Act, or the Listing Rules, the Company may delay the issue of the Shares until 10
Business Days following the expiration, as applicable, of the Blackout Period or the day on which the insider trading or takeover provisions
or the Listing Rules, no longer prevent the issue or transfer of the Shares.

 

	8.4	Withholding

 

If
a Participant is liable for tax, duties or other amounts in respect of their Performance Rights, and the Company is liable to make a
payment to the appropriate authorities on account of that liability, unless the Participant and the Company agree otherwise, the Company
must either deduct from any Cash Payment due, or issue to the Participant and arrange (as the Participant’s attorney) for a nominee
to sell on Nasdaq, such number of Shares which would otherwise be issued and allocated to the Participant so that the net proceeds of
sale (after allowing for reasonable sale costs) equal the payment the Company is required to pay to the appropriate authorities. The
Company is entitled to apply such net sale costs to pay to the appropriate authorities, with any excess sale proceeds to be remitted
to the Participant.

 

	8.5	Rights
                                            attaching to Shares

 

A
Participant will, from and including the issue date of Shares under this Plan, be the legal owner of the Shares issued in respect of
them and will be entitled to dividends and to exercise voting rights attached to the Shares.

 

    	12

     

    

 

	8.6	Share
                                            ranking

 

All
Shares issued under the Plan will rank equally in all respects with the Shares of the same class for the time being on issue except as
regards any rights attaching to such Shares by reference to a record date prior to the date of their issue.

 

	8.7	Quotation
                                            on Nasdaq

 

	 	(a)	If
    Shares of the same class as those issued under the Plan are quoted on Nasdaq, the Company will, subject to the Listing Rules, as
    applicable, apply to Nasdaq, as the case may be, for those Shares to be quoted on Nasdaq within the later of 10 Business Days after:

 

	 	(i)	the
    date the Shares are issued; and
	 	 	 
	 	(ii)	the
    date any Restriction Period that applies to the Shares ends.

 

	 	(b)	The
    Company will not apply for quotation of any Performance Rights on Nasdaq.

 

	8.8	Sale
                                            of Shares

 

	 	(a)	Subject
    to Rules 8.8(d) and 9 and the Company’s Constitution, there will be no transfer restrictions on Shares issued or transferred
    under the Plan unless the sale, transfer or disposal by the Participant of the Shares issued or transferred to them on exercise of
    the Performance Rights (or any interest in them) would require the preparation of a disclosure document (as that term is defined
    in the Corporations Act).
	 	 	 
	 	(b)	If
    a disclosure document is required, the Participant agrees to enter into such arrangements with the Company as the Board considers
    appropriate to prevent the sale, transfer or disposal of the relevant Shares in a manner that would require a disclosure document
    to be prepared.
	 	 	 
	 	(c)	The
    Company will issue, where required to enable Shares issued on exercise of Performance Rights to be freely tradeable on Nasdaq (subject
    to any Restriction Period), a cleansing statement under Section 708A(5) of the Corporations Act at the time Shares are issued. Where
    a cleansing statement is required, but cannot be issued, the Company will lodge a prospectus in relation to the Shares with ASIC
    which complies with the requirements of the Corporations Act and allows the Shares to be freely tradeable on Nasdaq (subject to any
    Restriction Period).
	 	 	 
	 	(d)	A
    Participant must not sell, transfer or dispose of any Shares issued to them on exercise of the Performance Rights (or any interest
    in them) in contravention of the Corporations Act, including the insider trading and on-sale provisions.

 

	9.	Restriction
                                            on Dealing in Shares

 

	9.1	Restriction
                                            Period

 

Subject
to clause 9.4, the Board may, in its discretion, determine at any time up until exercise of Performance Rights, that a restriction period
will apply to some or all of the Shares issued or transferred to a Participant on exercise of those Performance Rights (Restricted
Shares), up to a maximum of seven (7) years from the Grant Date of the Performance Rights (Restriction Period).

 

    	13

     

    

 

	9.2	Waiver
                                            of Restriction Period

 

Subject
to Rule 9.4, the Board may, in its sole discretion, having regard to the circumstances at the time, waive a Restriction Period determined
pursuant to Rule 9.1.

 

	9.3	No
                                            disposal of Restricted Shares

 

A
Participant must not dispose of or otherwise deal with any Shares issued to them under the Plan while they are Restricted Shares.

 

	9.4	Escrow

 

Shares
are deemed to be subject to a Restriction Period to the extent necessary to comply with any escrow restrictions imposed.

 

		9.5	Enforcement
                                            of Restriction Period

 

	 	(a)	The
    Company may implement any procedure it considers appropriate to restrict a Participant from dealing with any Shares for as long as
    those Shares are subject to a Restriction Period.
	 	 	 
	 	(b)	The
    Participant agrees to:

 

	 	(i)	execute
    a restriction agreement in relation to the Restricted Shares reflecting any Restriction Period applying to the Restricted Shares
    under the Plan or any escrow imposed;
	 	 	 
	 	(ii)	if
    required, the Company lodging the share certificates for the Shares (where issuer sponsored) with a bank or recognised trustee to
    hold until the expiry of any Restriction Period applying to the Shares or until the Shares are otherwise released from restrictions
    (at which time the Company shall arrange for the share certificates to be provided to the Participant); and
	 	 	 
	 	(iii)	if
    required, the application of a Holding Lock over Shares until any Restriction Period applying to the Shares under the Plan has expired
    (at which time the Company shall arrange for the Holding Lock to be removed).

 

	9.6	Lapse
                                            of Restriction Period

 

When
a Share ceases to be a Restricted Share, all restrictions on disposing of or otherwise dealing or purporting to deal with that Share
provided in or under these Rules will cease.

 

	10.	Lapse
                                            of Performance Rights

 

	10.1	Lapsing
                                            of Performance Right

 

A
Performance Right will lapse upon the earlier to occur of:

 

	 	(a)	an
    unauthorised dealing in, or hedging of, the Performance Right occurring, as governed by Rule 6.3(c);
	 	 	 
	 	(b)	a
    Vesting Condition in relation to the Performance Right is not satisfied by the due date, or becomes incapable of satisfaction, as
    determined by the Board acting reasonably, unless the Board exercises its discretion to waive the Vesting Condition and vest the
    Performance Right under Rule 7.2 (Vesting Condition Exceptions) or Rule 10.1(c)(ii) applies;

 

    	14

     

    

 

	 	(c)	in
    respect of an unvested Performance Right only, a Relevant Person ceases to be an Eligible Participant, unless the Board:
	 	 	 	 	 
	 	 	(i)	exercises
    its discretion to vest the Performance Right under Rule 7.2 (Vesting Condition Exceptions); or
	 	 	 	 
	 	 	(ii)	in
    its absolute discretion, resolves to allow the unvested Performance Rights to remain unvested after the Relevant Person ceases to
    be an Eligible Participant;
	 	 	 	 	 
	 	(d)	in
    respect of a vested Performance Right only:
	 	 	 	 	 
	 	 	(i)	a
    Relevant Person ceases to be an Eligible Participant and the Board, in its absolute discretion, resolves that the Performance Right
    granted in respect of that Relevant Person must:
	 	 	 	 	 
	 	 	 	(A)	be
    exercised within one (1) month (or such later date as the Board determines) of the date the Relevant Person ceases to be an Eligible
    Participant and the Performance Right is not exercised within that period; or;
	 	 	 	 	 
	 	 	 	(B)	be
    cancelled by the Company in consideration for a Cash Payment to the Participant, and a Cash Payment is made in respect of the vested
    Performance Right; or
	 	 	 	 	 
	 	 	(ii)	upon
    payment of a Cash Payment in respect of the vested Option under Rule 8.2;
	 	 	 	 	 
	 	(e)	the
    Board deems that a Performance Right lapses due to fraud, dishonesty or other improper behaviour of the holder/Eligible Participant
    under Rule 10.2 (Fraud and Related Matters);
	 	 	 
	 	(f)	in
    respect of an unvested Performance Right, the Company undergoes a Change of Control or a winding up resolution or order is made,
    and the Performance Right does not vest in accordance with Rule 7.2 (Vesting Condition Exceptions); and
	 	 	 
	 	(g)	the
    Expiry Date of the Performance Right.

 

	10.2	Fraud
    and Related Matters
	 	 
	 	Notwithstanding
    any other provision of this document, where a Relevant Person:
	 	 	 
	 	(a)	in
    the opinion of the Board, acts fraudulently or dishonestly, is grossly negligent, demonstrates serious and wilful misconduct, or
    causes a material adverse effect on the reputation of the Company;
	 	 	 
	 	(b)	has
    his or her employment or office terminated due to serious or wilful misconduct or otherwise for cause without notice;
	 	 	 
	 	(c)	deals
    with or disposes of Performance Rights or Restricted Shares contrary to the provisions of this Plan or any applicable Offer; or
	 	 	 
	 	(d)	becomes
    ineligible to hold his or her office due to Part 2D.6 of the Corporations Act,
	 	 	 
	 	the
    Board may, by written notice to the Participant, deem any unvested, or vested but unexercised, Performance Rights of the Participant
    to have lapsed, or require the Participant to pay back any Cash Payment paid to the Participant, which is deemed to be a debt due
    and payable by the Participant on demand, or require the Participant to do all such things necessary to cancel any Shares issued
    on exercise of the Participant’s Performance Rights.

 

    	15

     

    

 

	11.	ExCHANGE
    DUE TO CHANGE OF CONTROL
	 	 
	 	If
    a company (Acquiring Company) obtains control of the Company as a result of a Change of Control and both the Company, the
    Acquiring Company and the Participant agree, a Participant may, in respect of any vested Performance Rights that are exercised, be
    provided with shares of the Acquiring Company, or its parent, in lieu of Shares, on substantially the same terms and subject to substantially
    the same conditions as the Shares, but with appropriate adjustments to the number and kind of shares subject to the Performance Rights.

 

	12.	PArticipation
    rights AND reORGANISATION
	 	 
	12.1	Participation
    Rights
	 	 	 	 
	 	(a)	There
    are no participation rights or entitlements inherent in the Performance Rights and Participants will not be entitled to participate
    in new issues of capital offered to Shareholders during the currency of the Performance Rights without exercising the Performance
    Right.
	 	 	 
	 	(b)	A
    Performance Right does not confer the right to a change in the number of underlying Shares over which the Performance Right can be
    exercised.
	 	 	 
	 	(c)	A
    Participant who is not a Shareholder is not entitled to:
	 	 	 	 
	 	 	(i)	notice
    of, or to vote or attend at, a meeting of the Shareholders of the Company; or
	 	 	 	 
	 	 	(ii)	receive
    any dividends declared by the Company,
	 	 	 	 
	 	 	unless
    and until any Performance Right is exercised and the Participant holds Shares that provide the right to notice and dividends.
	 	 	 	 
	12.2	Adjustment
    for Reorganisation
	 	 
	 	If,
    at any time, the issued capital of the Company is reorganised (including consolidation, subdivision, reduction or return), all rights
    of a Participant are to be changed in a manner consistent with the Corporations Act and the Listing Rules (if applicable) at the
    time of the reorganisation.
	 	 
	12.3	Notice
    of Adjustments
	 	 
	 	Whenever
    the number of Shares to be issued on the exercise of a Performance Right is adjusted pursuant to these Rules, the Company will give
    notice of the adjustment to the Participant and Nasdaq, as applicable, together with calculations on which the adjustment is based.
	 	 
	12.4	Cumulative
    Adjustments
	 	 
	 	Effect
    will be given to Rule 12.3 in such manner that the effect of the successive applications of them is cumulative, with the intention
    being that the adjustments they progressively effect will reflect previous adjustments.

 

    	16

     

    

 

	13.	OVERRIDING
    RESTRICTIONS ON ISSUE AND EXERCISE
	 	 
	 	Notwithstanding
    the Rules or the terms of any Performance Right, no Performance Right may be offered, granted or exercised and no Share may be issued
    under the Plan if to do so:
	 	 	 
	 	(a)	would
    contravene the Corporations Act, the Listing Rules or any other applicable law; or
	 	 	 
	 	(b)	would
    contravene the local laws or customs of an Eligible Participant’s country of residence or in the opinion of the Board would
    require actions to comply with those local laws or customs which are, in the absolute discretion of the Board, impractical.

 

	14.	amendments
	 	 
	14.1	Power
    to amend Plan
	 	 
	 	Subject
    to Rule 14.2, the Corporations Act and the Listing Rules:
	 	 	 
	 	(a)	the
    Board may, at any time, by resolution amend or add to all or any of the provisions of the Plan, an Offer or the terms or conditions
    of any Performance Right granted under the Plan; and
	 	 	 
	 	(b)	any
    amendment may be given such retrospective effect as is specified in the written instrument or resolution by which the amendment is
    made.
	 	 	 
	14.2	Adjustment
    to Performance Right Terms
	 	 
	 	No
    adjustment or variation of the terms of a Performance Right will be made without the consent of the Participant who holds the relevant
    Performance Right if such adjustment or variation would have a materially prejudicial effect upon the Participant (in respect of
    his or her outstanding Performance Rights), other than an adjustment or variation introduced primarily:
	 	 	 
	 	(a)	for
    the purpose of complying with or conforming to present or future State, Territory or Commonwealth legislation governing or regulating
    the maintenance or operation of the Plan or like plans;
	 	 	 
	 	(b)	to
    correct any manifest error or mistake;
	 	 	 
	 	(c)	to
    enable a member of the Group to comply with the Corporations Act, the Listing Rules, applicable foreign law, or a requirement, policy
    or practice of the ASIC or other foreign or Australian regulatory body; or
	 	 	 
	 	(d)	to
    take into consideration possible adverse taxation implications in respect of the Plan, including changes to applicable taxation legislation
    or the interpretation of that legislation by a court of competent jurisdiction or any rulings from taxation authorities administering
    such legislation.

 

    	17

     

    

 

	14.3	Notice
    of amendment
	 	 
	 	As
    soon as reasonably practicable after making any amendment under Rule 14.1, the Board will give notice in writing of that amendment
    to any Participant affected by the amendment.
	 	 	 	 

	15.	Trust	 	 
	 	 	 	 
	 	(a)	The
    Board may, at any time, establish a trust for the sole purpose of acquiring and holding Shares in respect of which a Participant
    may exercise, or has exercised, vested Performance Rights, including for the purpose of enforcing the disposal restrictions and appoint
    a trustee to act as trustee of the trust.
	 	 	 
	 	(b)	The
    trustee will hold the Shares as trustee for and on behalf of a Participant as beneficial owner upon the terms of the trust.
	 	 	 
	 	(c)	The
    Board may at any time amend all or any of the provisions of this Plan to effect the establishment of a trust and the appointment
    of a trustee as detailed in this Rule.
	 	 	 
	 	(d)	Securities
    held by or for this Plan must only be voted on a resolution under the Listing Rules if and to the extent that:
	 	 	 	 
	 	 	(i)	they
    are held for the benefit of a nominated Participant;
	 	 	 	 
	 	 	(ii)	the
    nominated Participant is not excluded from voting on the resolution under the Listing Rules; and
	 	 	 	 
	 	 	(iii)	the
    nominated Participant has directed how the securities are to be voted.

 

	16.	miscellaneous
	 	 
	16.1	Rights
    and obligations of Participant
	 	 	 	 
	 	(a)	The
    rights and obligations of an Eligible Participant under the terms of their office, employment or contract with a Group Company are
    not affected by their participating in the Plan. This Plan will not form part of, and is not incorporated into, any contract of any
    Eligible Participant (whether or not they are an employee of a Group Company).
	 	 	 
	 	(b)	No
    Participant will have any rights to compensation or damages in consequence of:
	 	 	 	 
	 	 	(i)	the
    termination, for any reason, of the office, employment or other contract with a Group Company of the Participant (or, where the Participant
    is a Nominee of the Eligible Participant, that Eligible Participant) where those rights arise, or may arise, as a result of the Participant
    ceasing to have rights under the Plan as a result of such termination; or
	 	 	 	 
	 	 	(ii)	the
    lapsing of Performance Rights in accordance with this Plan.

 

    	18

     

    

 

	 	(c)	Nothing
    in this Plan, participation in the Plan or the terms of any Performance Right:
	 	 	 	 
	 	 	(i)	affects
    the rights of any Group Company to terminate the employment, engagement or office of an Eligible Participant or a Participant (as
    the case may be);
	 	 	 	 
	 	 	(ii)	affects
    the rights and obligations of any Eligible Participant or Participant under the terms of their employment, engagement or office with
    any Group Company;
	 	 	 	 
	 	 	(iii)	confers
    any legal or equitable right on an Eligible Participant or a Participant whatsoever to take action against any Group Company in respect
    of their employment, engagement or office;
	 	 	 	 
	 	 	(iv)	confers
    on an Eligible Participant or a Participant any rights to compensation or damages in consequence of the termination of their employment,
    engagement or office by any Group Company for any reason whatsoever including ceasing to have rights under the Plan as a result of
    such termination; or
	 	 	 	 
	 	 	(v)	confers
    any responsibility or liability on any Group Company or its directors, officers, employees, representatives or agents in respect
    of any taxation liabilities of the Eligible Participant or Participant.
	 	 	 	 
	 	(d)	If
    a Vesting Condition attached to a Performance Right requires a Participant to remain an employee of a Group Company, then the Participant
    will be treated as having ceased to be an employee of a Group Company at such time the Participant’s employer ceases to be
    a Group Company.
	 	 	 
	 	(e)	A
    Participant who is granted an approved leave of absence and who exercises their right to return to work under any applicable award,
    enterprise agreement, other agreement, statute or regulation before the exercise of a Performance Right under the Plan will be treated
    for those purposes as not having ceased to be such an employee.
	 	 	 	 
	16.2	Power
    of the Board
	 	 
	 	(a)	The
    Plan is administered by the Board which has power to:
	 	 	 	 
	 	 	(i)	determine
    appropriate procedures for administration of the Plan consistent with this Plan; and
	 	 	 	 
	 	 	(ii)	delegate
    to any one or more persons, for such period and on such conditions as it may determine, the exercise of any of its powers or discretions
    arising under the Plan.
	 	 	 	 
	 	(b)	Except
    as otherwise expressly provided in this Plan, the Board has absolute and unfettered discretion to act, or refrain from acting, under
    or in connection with the Plan or any Performance Rights under the Plan and in the exercise of any power or discretion under the
    Plan.
	 	 	 	 
	16.3	Dispute
    or disagreement 
	 	 
	 	In
    the event of any dispute or disagreement as to the interpretation of the Plan, or as to any question or right arising from or related
    to the Plan or to any Performance Rights granted under it, the decision of the Board is final and binding.

 

    	19

     

    

 

	16.4	ASIC
    relief
	 	 	 
	 	(a)	Notwithstanding
    any other provisions of the Plan, every covenant or other provisions set out in an exemption or modification granted from time to
    time by ASIC in respect of the Plan pursuant to its power to exempt and modify the Corporations Act and required to be included in
    the Plan in order for that exemption or modification to have full effect, is deemed to be contained in the Plan.
	 	 	 
	 	(b)	To
    the extent that any covenant or other provision deemed by this Rule to be contained in the Plan is inconsistent with any other provision
    in the Plan, the deemed covenant or other provision shall prevail.
	 	 	 
	16.5	Non-residents
    of Australia
	 	 	 
	 	(a)	The
    Board may adopt additional rules of the Plan applicable in any jurisdiction outside Australia under which rights offered under the
    Plan may be subject to additional or modified terms, having regard to any securities, exchange control or taxation laws or regulations
    or similar factors which may apply to the Participant or to any Group Company in relation to the rights. Any additional rule must
    conform to the basic principles of the Plan.
	 	 	 
	 	(b)	When
    a Performance Right is granted under the Plan to a person who is not a resident of Australia the provisions of the Plan apply subject
    to such alterations or additions as the Board determines having regard to any securities, exchange control or taxation laws or regulation
    or similar factors which may apply to the Participant or to any Group Company in relation to the Performance Right.

 

	16.6	Communication
	 	 
	 	(a)	Any
    notice or other communication under or in connection with the Plan may be given by personal delivery or by sending the same by post
    or facsimile or other electronic means:
	 	 	 	 
	 	 	(i)	in
    the case of a company, to its registered office;
	 	 	 	 
	 	 	(ii)	in
    the case of an individual, to the individual’s last notified address; or
	 	 	 	 
	 	 	(iii)	where
    a Participant is a Director or employee of a Group Company, either to the Participant’s last known address or to the address
    of the place of business at which the Participant performs the whole or substantially the whole of the duties of the Participant’s
    office of employment.
	 	 	 	 
	 	(b)	Where
    a notice or other communication is given by post, it is deemed to have been received 48 hours after it was put into the post properly
    addressed and stamped. Where a notice or other communication is given by facsimile, it is deemed to have been received on completion
    of transmission. Where a notice is given by electronic transmission, the notice is taken to have been received at the time the electronic
    transmission is sent unless the sender receives a message that the electronic message has not been delivered.
	 	 	 
	 	(c)	Despite
    Rule 16.6(b) if any communication is received, or taken to be received under Rule 16.6(b), after 5.00pm in the place of receipt or
    on a non-Business Day, it is taken to be received at 9.00am on the next Business Day and take effect from that time unless a later
    time is specified.

 

    	20

     

    

 

	16.7	Attorney
	 	 
	 	Each
    Participant:
	 	 	 	 
	 	(a)	irrevocably
    appoints the Company and any person nominated from time to time by the Company (each an attorney), severally, as the Participant’s
    attorney to complete and execute any documents, including applications for Shares and Share transfers, and to do all acts or things
    on behalf of and in the name of the Participant which may be convenient or necessary for the purpose of enforcing a Participant’s
    obligations, or exercising the Company’s rights, under this Plan or an Offer;
	 	 	 
	 	(b)	covenants
    that the Participant will ratify and confirm any act or thing done pursuant to this power;
	 	 	 
	 	(c)	except
    in respect of any liability caused by the Company’s reckless or wilful misconduct, releases each Group Company and the attorney
    from any liability whatsoever arising from the exercise of the powers conferred by this Rule; and
	 	 	 
	 	(d)	except
    in respect of any losses caused by the Company’s reckless or wilful misconduct, indemnifies and holds harmless each Group Company
    and the attorney in respect thereof.
	 	 	 	 
	16.8	Costs
    and Expenses
	 	 
	 	The
    Company will pay all expenses, costs and charges in relation to the establishment, implementation and administration of the Plan,
    including all costs incurred in or associated with the issue or purchase of Shares for the purposes of the Plan.
	 	 
	16.9	Adverse
    Tax
	 	 
	 	Where
    a Participant may suffer an adverse taxation consequence as a direct result of participating in the Plan that was not apparent to
    the Participant or the Company at the time the Participant was issued Performance Rights under the Plan, the Board may, in its absolute
    discretion, agree to compensate the Participant in whole or in part.
	 	 
	16.10	Data
    protection
	 	 
	 	By
    lodging an Application Form, each Participant consents to the holding and processing of personal data provided by the Participant
    to any Group Company for all purposes relating to the operation of the Plan. These include, but are not limited to:
	 	 	 
	 	(a)	administering and maintaining Participants’ records;
	 	 	 
	 	(b)	providing information to trustees of any employee benefit trust, registrars, brokers or third party administrators of the Plan;
	 	 	 
	 	(c)	providing information to future purchasers of the Company or the business in which the Participant works; and
	 	 	 
	 	(d)	transferring information about the Participant to a country or territory outside Australia.

 

    	21

     

    

 

	16.11	Error
    in Allocation
	 	 	 	 
	 	If
    any Performance Rights are provided under this Plan in error or by mistake to a person (Mistaken Recipient) who is not the
    intended recipient, the Mistaken Recipient shall have no right or interest, and shall be taken never to have had any right or interest,
    in those Performance Rights and those Performance Rights will immediately lapse.

 

	16.12	No
    fiduciary capacity
	 	 
	 	The
    Board may exercise any power or discretion conferred on it by this Plan in the interest or for the benefit of the Company, and in
    so doing the Board is not required to act in the interests of another person or as requested by another person and will not be under
    any fiduciary obligation to another person.
	 	 	 	 
	16.13	Listing
    Rules
	 	 
	 	If,
    and for so long as, the Company is admitted to Nasdaq, the provisions of the Listing Rules of Nasdaq, will apply to the Plan, and
    to the extent that the Plan and the Listing Rules, as applicable, are inconsistent, the provisions of the Listing Rules will prevail.
	 	 
	16.14	Enforcement
	 	 
	 	This
    Plan, any determination of the Board made pursuant to this Plan, and the terms of any Performance Rights granted under the Plan,
    will be deemed to form a contract between the Company and the Participant.
	 	 
	16.15	Laws
    governing Plan
	 	 
	 	(a)	 This Plan, and any Awards issued under it, are governed by the laws of the State and the Commonwealth of Australia.
	 	 	 	 
	 	(b)	 The Company and the Participants submit to the non-exclusive jurisdiction of the courts of the State.

 

    	22

     

    

 

 

Schedule
1 – performance rights plan – OFFER DOCUMENT

 

 

[insert
date]

 

[Name
and address of Eligible Participant]

 

Dear
[insert]

 

LOCAFY
LIMITED – PERFORMANCE RIGHTS PLAN

 

The
board of directors of Locafy Limited (ACN 136 737 767) (Company) is pleased to make an invitation to you to apply for Performance
Rights under its Performance Rights Plan (Plan) on the terms of this offer letter (Offer). Terms used in this Offer have
the same meaning as used in the Plan.

 

	The
    Company is pleased to advise you of the following:
	 	 	 
	(a)	this
    Offer is subject to the terms and conditions of the Plan, a copy of which is attached to this Offer;
	 	 
	(b)	subject
    to the following, the Company is willing to offer you the following Performance Rights under the Plan with the following Expiry Date
    and subject to the following Vesting Conditions:
	 	 	 
	 	(i)	[insert
    details of Performance Rights, Expiry Date and Vesting Conditions];
	 	 	 
	(c)	on
    exercise of your vested Performance Right you (or your Nominee) will be entitled to receive, at the absolute discretion of the Board,
    either:
	 	 	 
	 	(ii)	Shares;
    or
	 	 	 
	 	(iii)	a
    Cash Payment;
	 	 	 
	(d)	the
    grant of the Performance Rights is subject to the terms of the Plan, including the Company obtaining any necessary Shareholder approvals
    and you remaining an Eligible Participant at the time the Performance Rights are to be granted and (subject to a number of exceptions),
    exercised and converted into Shares;
	 	 
	(e)	the
    Performance Rights under the Plan will be granted to you for [nil] cash consideration;
	 	 
	(f)	Shares
    issued on exercise of the Performance Rights [will be subject to the following Restriction Periods/will not be subject to any Restriction
    Periods]:
	 	 	 
	 	(i)	[insert];
	 	 	 
	 	(ii)	[insert];
    and
	 	 	 
	 	(iii)	[insert].
	 	 	 
	(g)	this
    Offer remains open for acceptance by you until 5pm (in the State) on [insert date] (Closing Date) at which time the Offer
    will close and lapse;

 

    	23

     

    

 

	(h)	you
    may apply for the Performance Right by filling out Application Form below and returning to the Company Secretary before the Closing
    Date. In accordance with Rule 5.2 of the Plan, the Board may, in its absolute discretion, reject your Application Form and not grant
    the Performance Rights;
	 	 
	(i)	you
    may apply for the Performance Right to be registered in your name, or in a Nominee’s name. Examples of acceptable Nominees
    are set out in the Plan. Please discuss this with the Company Secretary if you have any queries;
	 	 
	(j)	unless
    the Plan provides otherwise, the Shares to which you are entitled on exercise of the Performance Right will be issued to you as soon
    as practicable after the exercise date as will any Cash Payment;
	 	 
	(k)	Performance
    Rights are only transferrable in special circumstances as set out in the Plan;
	 	 
	(l)	If
    listed, the Company will apply for the Shares to be quoted in accordance with the Listing Rules within 10 Business Days of the later
    of the date the Shares are issued and the date any Restriction Period that applies to the Shares ends. The Shares may be subject
    to restrictions on disposal in accordance with the Plan in which case the Company will impose a Holding Lock with the Company’s
    share registry and the Shares will not be able to be traded until the Holding Lock is lifted by the Company;
	 	 
	(m)	the
    Company will issue, where required to enable Shares issued on exercise of Performance Rights to be freely tradeable on Nasdaq (subject
    to any Restriction Period), a cleansing statement under Section 708A(5) of the Corporations Act at the time Shares are issued. Where
    a cleansing statement is required, but cannot be issued, the Company will have a prospectus available in relation to the Shares which
    complies with the requirements of the Corporations Act;
	 	 
	(n)	the
    Company undertakes that, during the period commencing on the date of this Offer and expiring on the Closing Date, it will, within
    a reasonable period of you so requesting, make available to you the current market price of the underlying Shares to which the Performance
    Rights relate;
	 	 
	(o)	the
    current market price of the underlying Shares to which the Performance Rights relate can be found on the Company’s website
    at www.locafy.com;
	 	 
	(p)	Subdivision
    83A-C of the Income Tax Assessment Act 1997 ̧ which enables tax deferral on Performance Rights, [will/will not] apply
    (subject to the conditions in that Act) to Performance Rights granted to you under this Offer; and
	 	 
	(q)	you
    must not sell, transfer or dispose of any Shares issued to you on the exercise of Performance Rights where to do so would contravene
    the insider trading or on-sale provisions of the Corporations Act.

 

You
should be aware that the business, assets and operations of the Company are subject to certain risk factors that have the potential to
influence the operating and financial performance of the Company in the future. These risks can impact on the value of an investment
in the securities of the Company, including Performance Rights offered under the Plan, and Shares issued on exercise of the Performance
Rights.

 

Any
advice given by the Company in relation to the Performance Rights, or underlying Shares offered under the Plan, does not take into account
your objectives, financial situation and needs (including financial or taxation issues).

 

This
Offer and all other documents provided to you at the time of this Offer contain general advice only and you should consider obtaining
your own financial product advice from an independent person who is licensed by the Australian Securities and Investments Commission
to give such advice. You are advised to seek independent professional advice regarding the Australian tax consequences of the grant of
Performance Rights and the acquiring and disposing of any Shares that are issued on exercise of Performance Rights under the Plan according
to your own particular circumstances.

 

Please
confirm your (or your Nominee’s) acceptance of the Offer set out in this letter by completing the Application Form below and returning
it to the Company by no later than [insert].

 

Yours
faithfully

 

[insert
name]

Director

For
and on behalf of 

Locafy
Limited

 

Encl.

 

    	24

     

    

 

 

Schedule
2 – performance rights plan Application Form

 

 

Locafy
Limited (ACN 136 737 767) (Company) has invited you (or your Nominee), by an invitation dated [insert] (Offer), to apply
for the grant under its Performance Rights Plan (Plan) of certain Performance Rights.

 

The
entity below hereby applies for the Performance Rights under the terms of the Offer, this Application Form and the Plan.

 

	Full
    Name:	 	 	 
	ACN
    (if applicable)	 	 	 
	Address:	 	 	 
	Ph:	 	Email:	 
	Tax
    file number(s) or exemption:	 	 	 

 

	In
    applying for the grant of Performance Rights under the Offer, the entity below acknowledges and agrees:
	 	 
	(a)	that,
    in accordance with Rule 5.2 of the Plan, the Board may, in its absolute discretion, reject this Application Form and not grant the
    Performance Rights;
	 	 
	(b)	to
    be entered on the register of performance rights holders of the Company as the holder of the Performance Rights applied for, and
    any Shares issued on the exercise of the Performance Rights;
	 	 
	(c)	to
    be bound by the terms of the Constitution of the Company;
	 	 
	(d)	to
    be bound by the terms and conditions of the Plan;
	 	 
	(e)	to
    be bound by the terms and conditions of the Offer;
	 	 
	(f)	a
    copy of the full terms of the Plan has been provided to it;
	 	 
	(g)	that,
    by completing this Application Form, it agrees to appoint the Company Secretary as its attorney to complete and execute any documents
    and do all acts on its behalf which may be convenient or necessary for the purpose of giving effect to the provisions of the Plan
    and the Offer;
	 	 
	(h)	that
    any tax liability arising from the Company accepting its application for Performance Rights under the Plan or the issue or transfer
    of Shares or the making of a Cash Payment on exercise of the Performance Rights is its responsibility and not that of the Company;
    and
	 	 
	(i)	to
    the extent required by the terms of the Plan and the Listing Rules, to enter into any necessary restriction agreement in relation
    to any Shares provided on the exercise of the Performance Rights and to the placing of a Holding Lock on those Shares.

 

    	25

     

    

 

Where
an individual

 

	SIGNED
    by [INSERT NAME OF 	)
    	 
	INDIVIDUAL]
    in the presence of:	)	 
	 	 	 
		 	
	Signature
    of witness	 	Signature
    
	 	 	 
		 	 
	Name
    of witness	 	 

 

Where
an Australian company

 

	EXECUTED
    by [INSERT COMPANY NAME]	)	 
	ACN
    [INSERT ACN]	)	 
	in
    accordance with section 127 of the	)	 
	Corporations
    Act 2001 (Cth):	)	 
	 	 	 
		 	
	Signature
    of director	 	Signature
    of director/company secretary*
	 	 	 
		 	
	Name
    of director	 	Name
    of director/company secretary*

 

*please
delete as applicable

 

    	26

     

    

 

 

SCHEDULE
3 – Notice of exercise of PERFORMANCE RIGHTS

 

 

 

	To:
    	The
    Directors
	 	Locafy
    Limited

 

I/We
_______________________________ of _______________________________________ _________________________________ being registered holder(s)
of performance rights as set out on the certificate annexed to this notice, hereby exercise _________________ of the abovementioned performance
rights.

 

I/
We authorise and direct the Company, except to the extent a Cash Payment is made, to register me/us as the holder(s) of the Shares to
be allotted to me/us and I/we agree to accept such Shares subject to the provisions of the Constitution of the Company.

 

	Dated:
    	      	 
	 	 	 
		 
	Signature
    of Holder(s)	 

 

Note:

 

	1.	Each
    holder must sign.
	 	 
	2.	An
    application by a company must be executed in accordance with section 127 of the Corporations Act 2001 (Cth) and, if signing
    for a company as a sole director/secretary – ensure “sole director/secretary” is written beside the signature.

 

    	27Exhibit
10.3

 

Form
of Deed of indemnity, insurance and access

 

Locafy
Limited

Company

______

Director

 

    	 

    	 

    

 

Contents

 

	1.	Definitions
    and interpretation	1
	 	1.1	Definitions	1
	 	1.2	Business
    Days	4
	 	1.3	Interpretation	4
	2.	Indemnity	4
	 	2.1	Indemnity
    against liabilities incurred	4
	 	2.2	Indemnity
    not to extend to certain matters	5
	 	2.3	Payments
    under the Indemnity	5
	 	2.4	No
    deduction	5
	 	2.5	Taxation	5
	 	2.6	Repayment	5
	 	2.7	Time
    limit	6
	 	2.8	Effect
    of termination of Indemnity	6
	 	2.9	Operation
    of Indemnity	6
	 	2.10	Rights
    against third parties	6
	 	2.11	Subrogation
    rights	6
	3.	Director’s
    costs for advice	7
	 	3.1	Advance
    by Company	7
	 	3.2	Treatment
    of advances	7
	 	3.3	Costs
    of other independent professional advice	7
	4.	Conduct
    of claims	7
	 	4.1	Notification	7
	 	4.2	Director’s
    obligations in relation to Indemnified Proceedings	7
	 	4.3	Company’s
    right to assume conduct of claim	8
	 	4.4	Director’s
    obligations where Company assumes conduct	8
	 	4.5	Company’s
    obligations where Company assumes conduct	8
	 	4.6	Counsel’s
    Opinion on settlement	8
	 	4.7	Conflict
    of interest	9
	 	4.8	Counsel’s
    Opinion on conflict of interest	9
	5.	Insurance
    Cover	9
	 	5.1	Insurance
    Cover during Relevant Period	9
	 	5.2	Insurance
    premium	9
	 	5.3	Company’s
    other obligations	9
	 	5.4	Director’s
    obligations	10
	 	5.5	Disclosure	10
	6.	Corporate
    Records	10
	 	6.1	Maintenance	10
	 	6.2	Ownership	11
	 	6.3	Return
    or destruction	11
	 	6.4	Requests
    for access to Corporate Records	11
	 	6.5	Response
    to Access Request	11
	 	6.6	Counsel’s
    Opinion in relation to an Access Request	12
	 	6.7	Manner
    of access to Corporate Records	12
	 	6.8	Confidential
    Information	12
	 	6.9	Permitted
    disclosure	12
	7.	Privileged
    documents	13
	 	7.1	Joint
    or multiple privilege	13
	 	7.2	Withholding
    consent	13
	 	7.3	Access
    for defence of Proceedings	13
	 	7.4	Retainers	13
	8.	Counsel’s
    Opinion	13
	 	8.1	Appointment
    of Counsel	13
	 	8.2	Counsel’s
    Opinion	14
	 	8.3	Further
    acts and documents	14
	9.	GST	14
	 	9.1	Interpretation	14
	 	9.2	Reimbursements
    and similar payments	14
	 	9.3	GST
    payable	14
	 	9.4	Variation	14
	10.	Notices	15
	 	10.1	How
    notice to be given	15
	 	10.2	When
    notice taken to be received	15
	11.	General	16
	 	11.1	Amendments	16
	 	11.2	Assignment	16
	 	11.3	Consents	16
	 	11.4	Costs	16
	 	11.5	Counterparts	16
	 	11.6	Entire
    agreement	16
	 	11.7	Severance	16
	 	11.8	Stamp
    duties	16
	 	11.9	Waivers	16
	12.	Governing
    law and jurisdiction	16

 

    	Deed of indemnity, insurance and access	i

    	 

    

 

Director’s
deed

		 
	Date	Locafy
    Limited ACN 136 737 767 of 246 Churchill Avenue, Subiaco WA 6008 (Company)
	 	 
	Parties	[Name]
    [Address] (Director)

 

Background

 

	A.	The
    Director is an Officer of the Company and may from time to time be an Officer of other Group Entities.
	 	 
	B.	The
    Company has agreed to indemnify the Director in respect of certain liabilities incurred by the Director while acting as an Officer
    of any Group Entity.
	 	 
	C.	The
    Company has agreed to arrange insurance for the benefit of the Director against certain risks to which the Director is exposed as
    an Officer of any Group Entity.
	 	 
	D.	The
    Company and the Director have agreed to regulate in certain respects the right of access the Director has to Corporate Records and
    the Company further wishes to clarify the Director’s duty to preserve the confidentiality of Confidential Information.

 

Operative
provisions

 

	1.	Definitions
    and interpretation
	 	 
	1.1	Definitions

 

In
this deed:

 

Abandoned
means, in relation to Indemnified Proceedings, if the claimant does not serve legal proceedings on the Director within 24 months
after the date on which the Director gives notice to the Company under clause 4.1.

 

Access
Request has the meaning given to it in clause 6.4.

 

Board
means, in relation to a Group Entity, the board of directors of that Group Entity from time to time.

 

Business
Day means a day that is not a Saturday, Sunday or public holiday and on which banks are open for business generally in Perth, Western
Australia.

 

Confidential
Information means any information contained in any Corporate Records of any Group Entity which is confidential to any Group Entity
or to a third party, other than Public Information.

 

Corporate
Records means, in relation to a Group Entity:

 

	 	(a)	all
    books and records in any form that the Group Entity is required by law to keep;
	 	 	 
	 	(b)	all
    documents which that Group Entity circulates or makes available to any director or any other Officer of that Group Entity for the
    purposes of meetings of the Board or of any committee of the Board of that Group Entity; and

 

    	 

    	 

    

 

	 	(c)	all
    documents in the possession, custody or control of that Group Entity which are referred to in any of the books, records or documents
    described in paragraphs (a) and (b),

 

during
the period in which the Director is an Officer of that Group Entity.

 

Corporations
Act means the Corporations Act 2001 (Cth).

 

Counterclaim
has the meaning given in clause 4.4(c).

 

Counsel
has the meaning given in clause 8.1.

 

Court
has the meaning given in section 58AA of the Corporations Act.

 

Group
Entities means the Company and its Subsidiaries.

 

GST
has the meaning given in the GST Act.

 

GST
Act means the A New Tax System (Goods and Services Tax) Act 1999 (Cth).

 

Indemnified
Proceedings has the meaning given in clause 4.1.

 

Indemnity
has the meaning given in clause 2.1.

 

Instructing
Party has the meaning given in clause 8.1.

 

Insurance
Cover means a contract insuring the Director against:

 

	 	(a)	liabilities
    incurred by the Director as an Officer of a Group Entity, other than liabilities which, if insured under the contract, would result
    in the Company being prohibited by law from paying any part of the insurance premium for the contract unless the Director pays the
    Prohibited Premium in accordance with clause 5.2; and
	 	 	 
	 	(b)	liabilities
    for Legal Costs.

 

Legal
Costs means all reasonable legal costs and disbursements incurred by the Director as an Officer of a Group Entity or as a consequence
of having been an Officer of a Group Entity:

 

	 	(a)	in
    obtaining advice or preparing for, responding to, defending or resisting, or otherwise in connection with, any Proceedings; or
	 	 	 
	 	(b)	in
    challenging any rejection of a Director’s claim by the provider of the Company’s Insurance Cover.

 

Officer
means an officer of a company as defined in section 9 of the Corporations Act.

 

Opinion
has the meaning given in clause 8.1.

 

Privileged
Document means all or part of any Corporate Record to which legal professional privilege attaches.

 

Proceedings
means any:

 

	 	(a)	litigation,
    arbitration, expert determination or other procedure for resolution of civil disputes in any court, tribunal or other forum; and
	 	 	 
	 	(b)	any
    inquiry, investigation or proceedings by any Regulatory Authority,

 

involving
or relating to the Director personally or a Group Entity or its affairs.

 

    	Deed of indemnity, insurance and access	2

    	 

    

 

Prohibited
Premium has the meaning given in clause 5.2.

 

Public
Information means any information contained in the Corporate Records of any Group Entity that is in or comes into the public domain,
other than as a result of a breach of this deed or a breach by any person of an obligation of confidence.

 

Regulatory
Authority means:

 

	 	(a)	any
    government or local authority and any department, minister or agency of any government; and
	 	 	 
	 	(b)	any
    other authority, agency, commission or similar entity having powers or jurisdiction under any law or regulation or the listing rules
    of any recognised stock or securities exchange.

 

Relevant
Company means:

 

	 	(a)	the
    Company;
	 	 	 
	 	(b)	any
    Subsidiary in respect of which the Director was appointed as an Officer before, at or after the date of this deed; and
	 	 	 
	 	(c)	any
    other company in respect of which the Director was appointed as an Officer before, at or after the date of this deed at the nomination
    of any company referred to in paragraph (a) or (b).

 

Relevant
Period means the period starting on the date the Director is appointed as an Officer of a Group Entity and ending on the later of:

 

	 	(a)	the
    date which is 7 years after the date on which the Director ceases to hold any office as an Officer of a Group Entity; and
	 	 	 
	 	(b)	if
    any Indemnified Proceedings are outstanding on the date referred to in paragraph (a), the date that all those Indemnified Proceedings
    become either Abandoned or Resolved.

 

Resolved
means, in relation to Indemnified Proceedings:

 

	 	(a)	the
    claimant withdrawing the Indemnified Proceedings;
	 	 	 
	 	(b)	all
    parties to the Indemnified Proceedings agreeing in writing on a settlement of the Indemnified Proceedings;
	 	 	 
	 	(c)	a
    court of competent jurisdiction, arbitrator or expert appointed for the purposes of an expert determination, making a final award
    of relief, or a determination that no relief should be granted, in respect of the Indemnified Proceedings; or
	 	 	 
	 	(d)	the
    completion by any Regulatory Authority of an inquiry.

 

Retirement
Date means, in relation to a Group Entity, the date on which the Director ceases to hold office as Officer of that Group Entity (provided
that for the purposes of this definition the Director is taken not to cease to hold office as a director of the Group Entity where the
Director retires by rotation at a general meeting of the Group Entity held in accordance with the Group Entity’s constitution or
the listing rules of ASX Limited and is re-elected as a director of the Group Entity at that general meeting or any adjournment of it).

 

Subsidiary
has the meaning given in section 9 of the Corporations Act and refers to any corporation which before, at or after the date of this
deed was, is or becomes a subsidiary of the Company.

 

    	Deed of indemnity, insurance and access	3

    	 

    

 

Tax
means any tax, levy, excise, duty, charge, surcharge, contribution, withholding tax, impost or withholding obligation of whatever
nature, whether direct or indirect, by whatever method collected or recovered, together with any fees, penalties, fines, interest or
statutory charges.

 

	1.2	Business
    Days

 

If
the day on which any act is to be done under this deed is a day other than a Business Day, the act must be done on the immediately preceding
Business Day except where this deed expressly specifies otherwise.

 

	1.3	Interpretation

 

In
this deed headings are for convenience only and do not affect interpretation and, unless the contrary intention appears:

 

	 	(a)	a
    word importing the singular includes the plural and vice versa, and a word of any gender includes the corresponding words of any
    other gender;
	 	 	 
	 	(b)	the
    word including or any other form of that word is not a word of limitation;
	 	 	 
	 	(c)	if
    a word or phrase is given a defined meaning, any other part of speech or grammatical form of that word or phrase has a corresponding
    meaning;
	 	 	 
	 	(d)	a
    reference to a person includes an individual, the estate of an individual, a corporation, a Regulatory Authority, an incorporated
    or unincorporated association or parties in a joint venture, a partnership and a trust;
	 	 	 
	 	(e)	a
    reference to a party includes that party’s executors, administrators, successors and permitted assigns, including persons taking
    by way of novation and, in the case of a trustee, includes any substituted or additional trustee;
	 	 	 
	 	(f)	a
    reference to a document or a provision of a document is to that document or provision as varied, novated, ratified or replaced from
    time to time;
	 	 	 
	 	(g)	a
    reference to this deed is a reference to this deed as varied, novated, ratified or replaced from time to time;
	 	 	 
	 	(h)	a
    reference to a party, clause, schedule, exhibit, attachment or annexure is a reference to a party, clause, schedule, exhibit, attachment
    or annexure to or of this deed, and a reference to this deed includes all schedules, exhibits, attachments and annexures to it;
	 	 	 
	 	(i)	a
    reference to a statute includes any regulations or other instruments made under it (delegated legislation) and a reference
    to a statute or delegated legislation or a provision of either includes consolidations, amendments, re-enactments and replacements;
	 	 	 
	 	(j)	a
    reference to $ or dollar is to Australian currency; and
	 	 	 
	 	(k)	this
    deed must not be construed adversely to a party just because that party prepared it or caused it to be prepared.

 

	2.	Indemnity
	 	 
	2.1	Indemnity
    against liabilities incurred

 

To
the maximum extent permitted by law, the Company indemnifies the Director against, and must pay to the Director on demand the amount
of, any loss, cost, charge, damage, expense or other liability suffered or incurred by the Director as an Officer of any Group Entity
or as a consequence of having been an Officer of any Group Entity, including any liability arising out of or in connection with any negligence,
breach of duty or breach of true (Indemnity).

 

    	Deed of indemnity, insurance and access	4

    	 

    

 

	2.2	Indemnity
    not to extend to certain matters

 

The
Indemnity does not extend to indemnify the Director:

 

	 	(a)	in
    bringing or prosecuting any claim, unless the claim is a claim in the nature of:

 

	 	(i)	a
    challenge to any rejection of a Director’s claim by the provider of the Company’s Insurance Cover; or
	 	 	 
	 	(ii)	a
    cross-claim or a third-party claim for contribution or indemnity in, and results directly from, any Proceedings in respect of which
    the Director has made a claim under the Indemnity; or

 

	 	(b)	to
    the extent that the amount of the claim under the Indemnity is increased as a result of the failure of the Director to comply with
    the Director’s obligations under clause 4.2 or 4.4; or
	 	 	 
	 	(c)	against
    any loss, cost, charge, damage, expense or other liability suffered or incurred by the Director arising out of or in connection with
    any pecuniary penalty order in relation to a Relevant Company under section 1317G of the Corporations Act or any compensation order
    in relation to a Relevant Company under section 1317H of the Corporations Act; or
	 	 	 
	 	(d)	against
    any loss, cost, charge, damage, expense or other liability suffered or incurred by the Director arising out of or in connection with
    any negligence, breach of duty or breach of trust in relation to a Relevant Company of which the Director is found to be guilty by
    a Court.

 

	2.3	Payments
    under the Indemnity

 

The
Company must pay any amount due to the Director under the Indemnity within 5 Business Days after the date on which the Director provides
evidence reasonably satisfactory to the Company (in its sole and absolute discretion) that the Director has suffered or incurred the
relevant loss, cost, charge, damage, expense or other liability.

 

	2.4	No
    deduction

 

Any
payment to be made under the Indemnity must be made free and clear of any set-off, deduction, or withholding, except where the set-off,
deduction or withholding is required or compelled by law.

 

	2.5	Taxation

 

If
for any reason the Director incurs a liability under any law relating to Tax in respect of a payment received by the Director under the
Indemnity or taken to be received under the Indemnity, then the Company must pay to the Director an amount sufficient to ensure that
the amount received by the Director equals the full amount that would have been received by the Director if that liability had not been
incurred.

 

	2.6	Repayment

 

If
the Company pays an amount to the Director under the Indemnity (including any amount the Company advances to the Director under clause
2.10(b) or clause 3.1), to the extent that:

 

	 	(a)	it
    is subsequently determined that the Company is prohibited under the Corporations Act or any other legislation from indemnifying the
    Director in respect of the liability to which the amounts paid or advanced relate;

 

    	Deed of indemnity, insurance and access	5

    	 

    

 

	 	(b)	after
    the amount is paid or advanced, the Director receives any payment, benefit or credit from a third party in respect of the liability
    to which the amounts paid or advanced relate; or
	 	 	 
	 	(c)	the
    Director receives a payment under clause 3.1 which exceeds the actual Legal Costs,

 

(each
a Repayment Event) the Director must, within 30 Business Days of the date of the Repayment Event, repay that amount to the Company,
together with any additional amount paid to the Director under clause 2.4 in respect of that amount.

 

	2.7	Time
    limit

 

The
Indemnity continues in full force and effect after the Director has ceased to be an Officer of a Group Entity until it is terminated
automatically on the earlier of:

 

		(a)	the
                                            end of the Relevant Period; and

 

		(b)	the
                                            date which is 20 Business Days after the date on which the Company gives notice to the Director
                                            terminating the Indemnity on the basis that it would be unreasonable in the circumstances
                                            for the Company to continue to provide the benefit of the Indemnity to the Director.

 

	2.8	Effect
    of termination of Indemnity

 

In
the Indemnity is terminated in accordance with clause 2.7(b) the Director retains all rights against the Company in respect of any claim
under the Indemnity made before termination.

 

	2.9	Operation
    of Indemnity

 

Without
limiting any other provision of this deed, the parties agree that it is not necessary for the Director to incur expense or to make any
payment before enforcing any right to claim under the Indemnity.

 

	2.10	Rights
    against third parties

 

If
the Director is insured (other than under the Insurance Cover) or has the benefit of an indemnity from any person (other than the Company)
in connection with any loss, cost, charge, damage, expense or other liability which the Company is required to pay to the Director under
the Indemnity:

 

	 	(a)	the
    Director must promptly take all reasonable steps to claim under the other insurance policy or the other indemnity; and
	 	 	 
	 	(b)	to
    the extent necessary to ensure that the Director receives the full benefit of any other insurance cover or other indemnity, any payment
    made to the Director under clause 2.1 will be taken to be an advance which is repayable in accordance with clause 2.6.

 

	2.11	Subrogation
    rights

 

If
the Company pays an amount to the Director under the Indemnity in respect of a matter:

 

	 	(a)	the
    Director must take all steps reasonably requested by the Company to subrogate the Company to any rights of the Director against any
    person in respect of that matter; and
	 	 	 
	 	(b)	if
    subrogation does not occur the Director must take all action as the Company reasonably requests to pursue his or her rights against
    any person in respect of that matter and:

 

	 	(i)	the
    Director must account to the Company for any amounts recovered from that person less the amount of any loss, cost, charge, damage,
    expense or other liability suffered or incurred by the Director in taking action under this clause 2.11(b); and

 

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	 	(ii)	the
    Company indemnifies the Director against, and must pay to the Director on demand the amount of, any loss, cost, charge, damage, expense
    or other liability suffered or incurred by the Director in taking action under this clause 2.11(b) that is not recovered and retained
    by the Director under clause 2.11(b)(i).

 

	3.	Director’s
    costs for advice
	 	 
	3.1	Advance
    by Company

 

The
Company must advance to the Director the amount of the Director’s Legal Costs on terms (including as to interest, repayment and
security) the Company reasonably determines. The Company must advance any amount it is required to advance to the Director under this
clause 3.1 within 5 Business Days after the date on which the Director provides evidence reasonably satisfactory to the Company (in its
sole and absolute discretion) that the Director has incurred, or is likely to incur, the relevant Legal Costs.

 

	3.2	Treatment
    of advances

 

All
amounts advanced to the Director under clause 3.1 in respect of Legal Costs will be taken to have been paid to the Director pursuant
to the Indemnity except to the extent that it is subsequently determined that the Company is not or was not permitted by law to indemnify
the Director in respect of those Legal Costs.

 

	3.3	Costs
    of other independent professional advice

 

Without
limiting any other provision of this deed, if the Director obtains independent professional advice in performing his or her duties to
the Company, the Company must meet the reasonable costs of the advice if:

 

	 	(a)	the
    advice is obtained in accordance with any Company policy regarding obtaining that advice; or
	 	 	 
	 	(b)	the
    Board of the Company approves the Director obtaining that advice.

 

	4.	Conduct
    of claims
	 	 
	4.1	Notification

 

The
Director must immediately notify the Company and any relevant Group Entity on becoming aware that any Proceedings have been commenced
or are threatened against the Director which may give rise to a claim by the Director under the Indemnity (Indemnified Proceedings).

 

	4.2	Director’s
    obligations in relation to Indemnified Proceedings

 

The
Director must:

 

	 	(a)	at
    the same time as the Director gives notice of any Proceedings under clause 4.1, give the Company and any relevant Group Entity a
    copy of all materials served on or otherwise within the possession of the Director in connection with any Indemnified Proceedings
    unless the Director receives written legal advice that to do so would be reasonably likely to prejudice materially the interests
    of the Director; and

 

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	 	(b)	not
    make any admission of liability, agreement, settlement or compromise in relation to any Indemnified Proceedings without the prior
    written consent of the Company, which consent must not be unreasonably withheld or delayed.

 

	4.3	Company’s
    right to assume conduct of claim

 

The
Company may, within 30 Business Days after the Director gives notice under clause 4.1, give notice to the Director assuming the conduct
of the negotiation or defence of any Indemnified Proceedings, either by itself or jointly with an insurer, except to the extent that
the interests of the Director and of the Company might reasonably be expected to conflict in relation to the Indemnified Proceedings.

 

	4.4	Director’s
    obligations where Company assumes conduct

 

If
the Company gives notice under clause 4.3 assuming the conduct of any Indemnified Proceedings, the Director must, in addition to complying
with his or her obligations under clause 4.2:

 

	 	(a)	take
    all action that the Company may reasonably request to avoid, dispute, resist, defend, appeal, compromise or mitigate the Indemnified
    Proceedings;
	 	 	 
	 	(b)	give
    the Company and each relevant Group Entity all other information and assistance as the Company may reasonably require in relation
    to the Indemnified Proceedings and in particular must sign all documents as the Company reasonably requires for the conduct of the
    Indemnified Proceedings; and
	 	 	 
	 	(c)	if
    requested to do so by the Company, give the Company and each relevant Group Entity all reasonable assistance to enable the relevant
    Group Entity or its insurers to be subrogated to and enjoy the benefit of the Director’s rights against any third party in
    relation to the Indemnified Proceedings or any claim or counterclaim in connection with the Indemnified Proceedings (Counterclaim).

 

	4.5	Company’s
    obligations where Company assumes conduct

 

If
the Company gives notice under clause 4.3 assuming the conduct of any Indemnified Proceedings, the Company:

 

	 	(a)	must
    ensure that the Indemnified Proceedings and any Counterclaim are conducted under the management and control of the Company or its
    insurers;
	 	 	 
	 	(b)	must
    give the Director all information as the Director may reasonably require in relation to the conduct of the Indemnified Proceedings
    and any Counterclaim, and consult with the Director to the extent practicable in relation to the conduct of the Indemnified Proceedings
    and any Counterclaim’
	 	 	 
	 	(c)	must
    not without the Director’s prior consent take any action in respect of the Indemnified Proceedings or any Counterclaim that
    prejudices the Indemnity; and
	 	 	 
	 	(d)	indemnifies
    the Director against, and must pay to the Director on demand the amount of, any reasonable cost or expense suffered or incurred by
    the Director arising out of or in connection with any action the Director takes under clause 4.4 or otherwise in connection with
    the Indemnified Proceedings or any Counterclaim.

 

	4.6	Counsel’s
    Opinion on settlement

 

If
the Director does not provide any consent requested under clause 4.5(c), the Company may instruct a Queen’s Counsel or Senior Counsel
in accordance with clause 8 to provide a legal opinion on whether it is reasonable to make an admission of liability, agreement, settlement
or compromise in relation to the Indemnified Proceedings.

 

    	Deed of indemnity, insurance and access	8

    	 

    

 

	4.7
    	Conflict
    of interest

 

If
the Company and the Director agree that the interests of the Director and of the Company might reasonably be expected to conflict in
relation to any Indemnified Proceedings or any Counterclaim:

 

	 	(a)	the
    Director is entitled to engage separate legal advisers of his or her choice in respect of the conduct of the Indemnified Proceedings
    and any Counterclaim; and
	 	 	 
	 	(b)	if
    the Company has assumed conduct of the Indemnified Proceedings under clause 4.3, the Company must withdraw from the conduct of the
    Indemnified Proceedings and any Counterclaim on behalf of the Director.

 

	4.8	Counsel’s
    Opinion on conflict of interest

 

If
the Company and the Director cannot agree on whether there is a conflict of interest for the purposes of clause 4.7, the Company or the
Director may instruct a Queen’s Counsel or Senior Counsel in accordance with clause 8 to provide a legal opinion on whether the
interests of the Director and of the Company might reasonably be expected to conflict in relation to any Indemnified Proceedings or any
Counterclaim.

 

	5.	Insurance
    Cover
	 	 
	5.1	Insurance
    Cover during Relevant Period

 

To
the maximum extent permitted by law, the Company must use its best endeavours to obtain and maintain in full force and effect during
the Relevant Period Insurance Cover for the benefit of the Director on terms that are not materially less favourable to the Director
than:

 

	 	(a)	the
    terms of the directors’ and officers’ insurance policy applicable to the directors of the Company at the time the Insurance
    Cover is effected or renewed for the Director from time to time (notwithstanding that the Director has ceased to be an Officer of
    the Company); or
	 	 	 
	 	(b)	if
    there is no insurance policy of this type at that time, the terms of a directors’ and officers’ insurance policy typically
    maintained at that time by other groups of companies similar to the Group Entities and which would have been available to the Group
    Entities at the relevant time, to the extent that coverage of this type is available on the market on terms and at a cost which the
    Company considers reasonable,

 

having
regard to the amount of cover, the scope of cover, the excess and other terms that would be relevant to a director.

 

	5.2	Insurance
    premium

 

To
the extent the Company or a Group Entity is prohibited by law from paying the insurance premium for a contract insuring the Director
as an Officer of a Group Entity against certain liabilities (Prohibited Premium), the Company must give, and must procure that
each Group Entity gives, the Director a reasonable opportunity to contribute the Prohibited Premium if it is reasonable for the Director
to do so.

 

	5.3	Company’s
    other obligations

 

If
the Company obtains Insurance Cover as contemplated by clause 5.1, the Company must (and must procure that each Group Entity must):

 

	 	(a)	not
    do or permit to be done anything which prejudices or renders any part of the Insurance Cover void, voidable or unenforceable, and
    must immediately rectify anything reasonably within its control which might prejudice or render any part of the Insurance Cover void,
    voidable or unenforceable, or might prejudice recovery under it;

 

    	Deed of indemnity, insurance and access	9

    	 

    

 

	 	(b)	if
    requested by the Director to do so, provide the Director with a certificate of insurance for the Insurance Cover once in every 12
    month period and within 20 Business Days after receipt of the certificate;
	 	 	 
	 	(c)	make
    the policy relating to the Insurance Cover available for the Director to inspect upon reasonable notice at the Company’s registered
    office or principal place of business between 9.00 am and 5.00 pm on any Business Day, except where that disclosure would involve
    a breach of the terms of the policy; and
	 	 	 
	 	(d)	notify
    the Director immediately in writing if, for any reason, the Insurance Cover is cancelled or not renewed.

 

	5.4	Director’s
    obligations

 

If
the Company obtains Insurance Cover as contemplated by clause 5.1, the Director must:

 

	 	(a)	take
    all steps as the Company may reasonably require to enable the Company to take out and maintain the Insurance Cover at the Company’s
    expense;
	 	 	 
	 	(b)	at
    all times comply with all obligations and requirements of the Director under the Insurance Cover;
	 	 	 
	 	(c)	not
    do or permit to be done anything which prejudices or renders any part of the Insurance Cover void, voidable or unenforceable, and
    must immediately rectify anything reasonably within the Director’s control which might prejudice or render any part of the
    Insurance Cover void, voidable or unenforceable, or might prejudice recovery under it;
	 	 	 
	 	(d)	immediately
    inform the Company and the insurer in writing on becoming aware of any circumstances which could give rise to a claim under the policy
    relating to the Insurance Cover; and
	 	 	 
	 	(e)	immediately
    inform the Company in writing on becoming aware of anything done or omitted to be done which is reasonably likely to prejudice the
    Insurance Cover.

 

	5.5	Disclosure

 

Before
the Company obtains Insurance Cover, each party must disclose to the proposed insurer and to the other party (and, in the case of the
Director, to each Group Entity of which the Director is an Officer) all facts material to the insurer’s risk, including the existence
of this deed.

 

	6.	Corporate
    Records
	 	 
	6.1	Maintenance

 

The
Company must:

 

	 	(a)	use
    reasonable endeavours to maintain during the Relevant Period a complete set of Corporate Records in relation to the Company; and
	 	 	 
	 	(b)	procure
    that each other Group Entity uses reasonable endeavours to maintain during the Relevant Period a complete set of Corporate Records
    in relation to that Group Entity,

 

    	Deed of indemnity, insurance and access	10

    	 

    

 

where
there are reasonable grounds to believe that the relevant Corporate Record will be relevant to any Proceedings commenced or threatened
in writing before the expiry of that 10 year period.

 

	6.2	Ownership

 

The
Director acknowledges that the Company or the relevant Group Entity retains ownership of copies of all Corporate Records of any Group
Entity provided to the Director while an Officer of the Company.

 

	6.3	Return
    or destruction

 

Immediately
upon the Director ceasing to be an Officer of the Company, the Director must:

 

	 	(a)	return
    to the Company or destroy all copies of Corporate Records relating to any Group Entity which the Director possesses, has power over
    or controls;
	 	 	 
	 	(b)	delete
    all copies of Corporate Records relating to any Group Entity that are contained on any computer, database or other electronic means
    of data storage which the Director possesses, has power over or controls; and
	 	 	 
	 	(c)	provide
    a written confirmation to the Company that he or she has complied with this clause 6.3.

 

The
obligations of the Director in this clause 6.3 also apply immediately upon the Director ceasing to require, for the purpose for which
it was provided, any information provided to the Director in response to an Access Request.

 

	6.4	Requests
    for access to Corporate Records

 

In
addition to any other rights of access that the Director has under the Corporations Act, the Director may at any time during the Relevant
Period request access to the Corporate Records of any Group Entity that may be relevant to any Proceedings commenced before the date
which is 7 years after the Retirement Date by giving notice in writing to the company secretary of the Company identifying generally
the Corporate Records to which the Director seeks access and stating the purpose for which the Director seeks access to those Corporate
Records (Access Request).

 

	6.5	Response
    to Access Request

 

The
Company must consider any Access Request within 5 Business Days after it is received by the company secretary and must approve the Access
Request except to the extent that the Board of the Company, acting in good faith, considers that:

 

	 	(a)	the
    Director is seeking access to the relevant Corporate Records for the purposes of bringing or prosecuting any claim against any Group
    Entity; or
	 	 	 
	 	(b)	granting
    the Director access to the relevant Corporate Records:

 

	 	(i)	would
    have a material adverse effect on the ability of any Group Entity to perform any of its obligations under any agreement or arrangement
    to which it is party or on any other aspect of the business or operations of any Group Entity; or
	 	 	 
	 	(ii)	might
    reasonably be expected to result in any Group Entity waiving or otherwise prejudicing legal professional privilege attaching to any
    Privileged Document in circumstances where the waiver of that privilege would be reasonably likely to prejudice materially the interests
    of the relevant Group Entity.

 

    	Deed of indemnity, insurance and access	11

    	 

    

 

	6.6	Counsel’s
    Opinion in relation to an Access Request

 

If
the Company refuses an Access Request, the Director may instruct a Queen’s Counsel or Senior Counsel in accordance with clause
8.1 to provide a legal opinion on whether the Company has the right under clause 6.5 to do so.

 

	6.7	Manner
    of access to Corporate Records

 

If
the Company approves any Access Request, the Company must:

 

	 	(a)	allow
    the Director and, provided the Director complies with clause 6.9(b), the Director’s legal advisers on reasonable notice to
    inspect and take copies (at the Company’s expense) of the Corporate Records which are the subject of the Access Request at
    the registered office or principal place of business of the Company between 9.00 am and 5.00 pm on any Business Day;
	 	 	 
	 	(b)	provide
    all information, assistance and facilities as the Director and, provided the Director complies with clause 6.9(b), the Director’s
    legal advisors may reasonably require in order to inspect, and make and take away copies of, the Corporate Records which are the
    subject of the Access Request.

 

	6.8	Confidential
    Information

 

If
in response to an Access Request the Director is granted access to Confidential Information, the Director must observe the same duties
of confidentiality in relation to the Confidential Information as applied while the Director was an Officer of the Company and must not
without the Company’s prior written consent disclose the Confidential Information to any person.

 

	6.9	Permitted
    disclosure

 

Notwithstanding
clause 6.8, the Director may disclose Confidential Information:

 

	 	(a)	to
    the Director’s insurer or prospective insurer in connection with effecting, maintaining or complying with the terms of an insurance
    policy;
	 	 	 
	 	(b)	to
    the Director’s legal or financial advisers for the purposes of preparing for, responding to, defending or resisting, or otherwise
    in connection with any Proceedings provided that the Director has first obtained undertakings of confidentiality from those advisers
    in relation to the Confidential Information;
	 	 	 
	 	(c)	where
    the disclosure of the Confidential Information is required by law or the rules of a recognised stock or securities exchange; or
	 	 	 
	 	(d)	where
    the Director reasonably requires disclosure of the Confidential Information for the purposes of any Indemnified Proceedings and:

 

	 	(i)	the
    Director reasonably believes that disclosure of the Confidential Information would not materially prejudice the interests of any
    Group Entity;
	 	 	 
	 	(ii)	the
    Director has given the Company not less than 5 Business Days notice of the Director’s intention to disclose the Confidential
    Information; and
	 	 	 
	 	(iii)	the
    Director uses best endeavours to ensure that the confidentiality of the Confidential Information is maintained.

 

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	7.	Privileged
    documents
	 	 
	7.1	Joint
    or multiple privilege

 

Where
the Company and the Director both have the benefit of legal professional privilege in respect of a Privileged Document forming part of
the Corporate Records, then neither party may waive that privilege:

 

	 	(a)	without
    the written consent of the other, which consent must not be unreasonably withheld; and
	 	 	 
	 	(b)	where
    persons other than the Company or the Director also have the benefit of that privilege, without the written consent of those persons.

 

	7.2	Withholding
    consent

 

Notwithstanding
any other provision of this deed, it will be reasonable for a party to withhold consent to a waiver of privilege where the party requested
to waive the privilege reasonably determines that the waiver of privilege would materially prejudice its interests.

 

	7.3	Access
    for defence of Proceedings

 

Unless
clause 7.2 applies, the Company may not refuse to consent to a waiver of privilege where the Director reasonably requires access to and
copies of documents for the defence of any Proceedings.

 

	7.4	Retainers

 

By
its execution of this deed the Company will be deemed to have instructed its legal advisers from time to time that all legal advice provided
to the Company in relation to any Proceedings which may be relevant to the Director is also to be provided for the Director’s benefit,
so that the Director has the benefit of legal professional privilege in relation to that advice, except where, at the time the advice
is obtained, the interests of the Company and the Director are in conflict.

 

	8.	Counsel’s
    Opinion
	 	 
	8.1	Appointment
    of Counsel

 

If
a party (Instructing Party) has the right under this deed to instruct a Queen’s Counsel or Senior Counsel to provide an
opinion in relation to a specific matter (Opinion) the Instructing Party must appoint a Queen’s Counsel or Senior Counsel
agreed by the Company and the Director in writing, or failing agreement within 10 Business Days, appointed by the President of the Western
Australian Bar Association, or his or her nominee, to appoint a barrister who:

 

	 	(a)	is
    a Queen’s Counsel or Senior Counsel;
	 	 	 
	 	(b)	practices
    at the Western Australian Bar; and
	 	 	 
	 	(c)	has
    company law expertise,

 

(Counsel)
to provide the Opinion in accordance with clause 8.2.

 

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	8.2	Counsel’s
    Opinion

 

The
Instructing Party must procure that Counsel provides the Opinion in accordance with the following provisions:

 

	 	(a)	the
    Instructing Party must instruct Counsel to provide a copy of Counsel’s written Opinion to the Company and the Director within
    the shortest possible time but, in any event, within 20 Business Days after the date on which Counsel is instructed to provide the
    Opinion;
	 	 	 
	 	(b)	the
    Company and the Director must provide Counsel with any information and assistance reasonably required by Counsel to enable Counsel
    to provide the Opinion;
	 	 	 
	 	(c)	Counsel
    will act as an independent expert and not as an arbitrator and the Opinion of Counsel will be final and binding on the Director and
    the Company; and
	 	 	 
	 	(d)	the
    costs of Counsel in connection with the Opinion are payable by the Company.

 

	8.3	Further
    acts and documents

 

The
Company and the Director must do all things necessary, and execute all documents, authorities and directions as are required by the Instructing
Party to give effect to Counsel’s advice as set out in the Opinion.

 

	9.	GST
	 	 
	9.1	Interpretation

 

The
parties agree that:

 

	 	(a)	except
    where the context suggests otherwise, terms used in this clause 8 have the meanings given to those terms by the GST Act (as amended
    from time to time);
	 	 	 
	 	(b)	any
    part of a supply that is treated as separate supply for GST purposes (including attributing GST payable to tax periods) will be treated
    as a separate supply for the purposes of this clause 8; and
	 	 	 
	 	(c)	any
    consideration that is specified to be inclusive of GST must not be taken into account in calculating the GST payable in relation
    to a supply for the purpose of this clause 8.

 

	9.2	Reimbursements
    and similar payments

 

Any
payment or reimbursement required to be made under this deed that is calculated by reference to a cost, expense, or other amount paid
or incurred will be limited to the total cost, expense or amount less the amount of any input tax credit to which an entity is entitled
for the acquisition to which the cost, expense or amount relates.

 

	9.3	GST
    payable

 

If
GST is payable in relation to a supply made under or in connection with this deed then any party (Recipient) that is required
to provide consideration to another party (Supplier) for that supply must pay an additional amount to the Supplier equal to the
amount of that GST at the same time as other consideration is to be provided for that supply or, if later, within 5 Business Days of
the Supplier providing a valid tax invoice to the Recipient.

 

	9.4	Variation

 

If
the GST payable in relation to a supply made under or in connection with this deed varies from the additional amount paid by the Recipient
under clause 9.3 then the Supplier must provide a corresponding refund or credit to, or will be entitled to receive the amount of that
variation from, the Recipient. Any ruling, advice, document or other information received by the Recipient from the Australian Tax Office
in relation to any supply made under this deed will be conclusive as to the GST payable in relation to that supply. Any payment, credit
or refund under this paragraph is deemed to be a payment, credit or refund of the additional amount payable under clause 9.3.

 

    	Deed of indemnity, insurance and access	14

    	 

    

 

	10.	Notices
	 	 
	10.1	How
    notice to be given

 

Each
communication (including each notice, consent, approval, request and demand) under or in connection with this deed:

 

	 	(a)	may
    be given by personal service or post;
	 	 	 
	 	(b)	must
    be in writing and in English (or accompanied by a certified translation into English);
	 	 	 
	 	(c)	must
    be addressed as follows (or as otherwise notified by that party to each other party from time to time):

 

	 	(i)	if
    to the Company:
	 	 	 
	 	 	Attention:
	 	 	 
	 	 	Address:
	 	 	 
	 	(ii)	if
    to the Director:
	 	 	 
	 	 	Attention:
	 	 	 
	 	 	Address:

 

	 	(d)	(in
    the case of personal service or post) must be signed by the party making it or (on that party’s behalf) by the solicitor for,
    or any attorney, director, secretary or authorised agent of, that party; and
	 	 	 
	 	(e)	must
    be delivered by hand or posted by prepaid post to the address of the addressee, in accordance with clause 10.1(c).

 

	10.2	When
    notice taken to be received

 

Each
communication (including each notice, consent, approval, request and demand) under or in connection with this deed is taken to be received
by the addressee:

 

	 	(a)	(in
    the case of prepaid post sent to an address in the same country) on the third day after the date of posting;
	 	 	 
	 	(b)	(in
    the case of prepaid post sent to an address in another country) on the fifth day after the date of posting by airmail; and
	 	 	 
	 	(c)	 (in
    the case of delivery by hand) on delivery,

 

but
if the communication would otherwise be taken to be received on a day that is not a working day or after 5.00 pm, it is taken to be received
at 9.00 am on the next working day (“working day” meaning a day that is not a Saturday, Sunday or public holiday and on which
banks are open for business generally, in the place to which the communication is posted, sent or delivered).

 

    	Deed of indemnity, insurance and access	15

    	 

    

 

	11.	General
	 	 
	11.1	Amendments

 

This
deed may only be varied by a deed executed by or on behalf of each party.

 

	11.2	Assignment

 

A
party cannot assign or otherwise transfer any of its rights under this deed without the prior consent of the other party.

 

	11.3	Consents

 

Unless
this deed expressly provides otherwise, a consent under this deed may be given or withheld in the absolute discretion of the party entitled
to give the consent and to be effective must be given in writing.

 

	11.4	Costs

 

Except
as otherwise provided in this deed, each party must pay its own costs and expenses in connection with negotiating, preparing, executing
and performing this deed.

 

	11.5	Counterparts

 

This
deed may be executed in any number of counterparts and by the parties on separate counterparts. Each counterpart constitutes the deed
of each party who has executed and delivered that counterpart.

 

	11.6	Entire
    agreement

 

To
the extent permitted by law, this deed constitutes the entire agreement between the parties in relation to its subject matter and supersedes
all previous agreements and understandings between the parties in relation to its subject matter.

 

	11.7	Severance

 

If
any provision or part of a provision of this deed is held or found to be void, invalid or otherwise unenforceable (whether in respect
of a particular party or generally), it will be deemed to be severed to the extent that it is void or to the extent of voidability, invalidity
or unenforceability, but the remainder of that provision will remain in full force and effect.

 

	11.8	Stamp
    duties

 

The
Company:

 

	 	(a)	must
    pay all stamp duties and other duties, together with any related fees, penalties, fines, interest or statutory charges, and similar
    Taxes in respect of this deed, the performance of this deed and each transaction effected or contemplated by or made under this deed;
    and
	 	 	 
	 	(b)	indemnifies
    the Director against, and must pay to the Director on demand the amount of, any loss, cost, charge, damage, expense or other liability
    suffered or incurred by the Director arising out of or in connection with any delay or failure to comply with clause 11.8(a).

 

	11.9	Waivers

 

Without
limiting any other provision of this deed, the parties agree that:

 

	 	(a)	failure
    to exercise or enforce, or a delay in exercising or enforcing, or the partial exercise or enforcement of, a right, power or remedy
    provided by law or under this deed by a party does not preclude, or operate as a waiver of, the exercise or enforcement, or further
    exercise or enforcement, of that or any other right, power or remedy provided by law or under this deed;
	 	 	 
	 	(b)	a
    waiver given by a party under this deed is only effective and binding on that party if it is given or confirmed in writing by that
    party; and
	 	 	 
	 	(c)	no
    waiver of a breach of a term of this deed operates as a waiver of another breach of that term or of a breach of any other term of
    this deed.

 

	12.	Governing
    law and jurisdiction

 

This
deed is governed by the law applying in Western Australia. Each party irrevocably submits to the non-exclusive jurisdiction of the courts
having jurisdiction in that state and the courts competent to determine appeals from those courts, with respect to any proceedings that
may be brought at any time relating to this deed and waives any objection it may have now or in the future to the venue of any proceedings,
and any claim it may have now or in the future that any proceedings have been brought in an inconvenient forum, if that venue falls within
this clause 12.

 

    	Deed of indemnity, insurance and access	16

    	 

    

 

Executed
as a deed.

 

	Executed
    by Locafy Limited ACN 136 737 767 in accordance with section 127 of the Corporations Act 2001 (Cth):	 	 	 
	 	 	 	 
	 	 	 	 
	Signature
    of director	 	 	Signature
    of company secretary/director
	 

    
	 	 	 

    

	 	 	 	 
	Full
    name of director	 	 	Full
    name of company secretary/director

 

	Signed,
    sealed and delivered by in the presence of:	 	 	 
	 	 	 	 
	 	 	 	 
	Signature
    of witness	 	 	Signature
	 	 	 	 
	 	 	 	 
	Full
    name of witness	 	 	 

 

    	Deed of indemnity, insurance and access	17

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