Document:

Exhibit
10.2

 

Amended
and Restated Services Agreement

 

This
Amended and Restated Services Agreement (this “Agreement”) is made and entered into as of May 14, 2019 (the
“Effective Date”), by and between Julian Kenyon (the “Executive”) and Propanc Biopharma,
Inc., a Delaware corporation (the “Company”, and collectively with the Executive, the “Parties”).
This Agreement is intended to and hereby amends and restates in its entirety that certain Director Agreement between the Parties
entered into as of February 25, 2015.

 

WHEREAS,
the Executive is currently serving as the Chief Scientific Officer of the Company on a part-time non-executive basis and as a
member of the Board of Directors of the Company (the “Board”);

 

WHEREAS,
the Company desires to appoint the Executive as the full time Chief Scientific Officer of the Company and to otherwise compensation
the Executive for such services, as well as his continued services on the Board, on the terms and conditions set forth herein;
and

 

WHEREAS,
the Executive desires to be appointed as the Company’s full time Chief Scientific Officer and to continue to serve on the
Board on the terms and conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the mutual covenants, promises and obligations set forth herein, the parties agree as follows:

 

1.
Appointment Term. This Agreement
and the Executive’s appointment term (the “Appointment”) hereunder shall be effective as of the Effective
Date and shall continue until the third (3rd) anniversary thereof (the “Initial Term”), unless terminated
earlier pursuant to Section 4 of this Agreement. Thereafter, the Appointment shall automatically renew for successive periods
of one (1) year, unless either Party shall have given to the other Party at least thirty (30) days’ prior written notice
of his or its intention not to renew this Agreement prior to the end of the Term or the then applicable renewal term (collectively,
the “Term”), as the case may be. The period starting on the Effective Date and ending on and inclusive of the
earlier of (a) the date three (3) years thereafter, and (b) the termination date (as provided in Section 4) is referred to herein
as the “Services Period”.

 

2.
Position and Duties.

 

2.1
Position. During the Services Term, the Executive shall serve as (i) the full time Chief Scientific Officer of the Company
in an executive officer capacity, reporting directly to the Chief Executive Officer of the Company (the “CEO”)
and the Board (ii) a member of the Board, subject to stockholder approval as may be required from time to time.

 

2.2
Duties. During the Services Term, Executive will have the authority and responsibilities consistent with the position of
Chief Scientific Officer, subject to the reasonable direction and control of the CEO and the Board. The Executive shall perform
all duties reasonably required of the Executive in furtherance of the Executive’s position as it relates to the Company’s
business and the business of all of the Company’s subsidiaries (the Company, together with all of its subsidiaries, are
referred to herein collectively as the “Company Group”). All duties assigned to Executive hereunder shall be
consistent with the scope and dignity of his position.

 

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2.3
Services. During the Services Term, Executive shall devote such amount of Executive’s working time, attention, and
efforts to the Company, excluding any periods for illness, incapacity, and vacations, as reasonably deemed needed by Executive
to fully, diligently and in good faith perform the services required under this Agreement or as maybe reasonably required by the
CEO and/or the Board, subject to the policies established by the Board. Notwithstanding the immediately preceding sentence or
anything to the contrary contained herein, during the Services Period Executive is permitted (a) to serve on the boards of directors,
the boards of trustees, or any similar governing bodies, of any corporations or other business entities, of any charitable, educational,
religious, or public service organizations, or of any trade associations, (b) to engage in charitable activities and community
affairs, (c) to engage in venture investing, (d) to manage Executive’s personal investments and (e) to be employed by or
provide services to other third parties, in each case so long as such activities are disclosed to the Board, do not compete with
the business of the Company Group, and do not interfere with Executive’s performance of this Agreement.

 

2.4
Location. Executive shall be permitted to provide the services required under this Agreement remotely and as reasonably
requested by the Company, to make himself available to travel for any purpose reasonably related to the Company Group’s
business, including working out of the Company’s headquarters from time to time.

 

2.5
Confidentiality, Non-Interference and Invention Assignment. As a condition of employment, Executive shall execute and comply
with the Confidentiality, Non-Interference and Invention Assignment Agreement attached hereto as Exhibit A (the “Confidentiality
Agreement”).

 

3.
Compensation.

 

3.1
Gross Annual Package. The Company shall pay the Executive a base salary of $4,500 AUD per month, payable in accordance
with the Company’s generally applicable payroll practices for senior executive officers, but not less frequently than in
equal monthly installments.

 

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3.2
Initial Equity and Stock Options Grant. In addition to any other equity-based compensation or equity awards the Company
grants to the Executive on or after the Effective Date, the Company shall grant to the Executive, as soon as practicable following
the Effective Date, under the Company’s 2019 Equity Incentive Plan (the “Plan”): (i) incentive stock
options to purchase a total of nine million seven hundred fifty thousand (9,750,000) shares (collectively, the “Options”)
of the Company’s common stock, $0.001 par value per share (the “Common Stock”), with an exercise price
per share equal to 100% of the closing market price of the Common Stock on the date of approval of such grant by the Board, (ii)
nine million seven hundred fifty thousand (9,750,000) restricted stock units of the Company as the initial grant of restricted
stock units (the “Initial RSUs”), and (iii) nine million seven hundred fifty thousand (9,750,000) restricted
stock units of the Company as an additional grant of restricted stock units (the “Additional RSUs” and together
with the Initial RSUs, the “RSUs”). The Options shall be issued pursuant to the Company’s standard form
of Stock Options Agreement that will specify such other terms and conditions as the Board, in its sole discretion, will determine
in accordance with the terms and conditions of the Plan. Each RSU grant will be evidenced by the Company’s standard form
of Restricted Stock Units Agreement that will specify such other terms and conditions as the Board, in its sole discretion, will
determine in accordance with the terms and conditions of the Plan, including all terms, conditions and restrictions related to
the grant and the form of payout, which, subject to Section 9(d) of the Plan, may be left to the discretion of the Board. The
Options shall be incentive stock options subject to the approval of the Plan by the Company’s stockholders on or before
12 months from the date of its adoption by the Board, and if the Plan is not approved by the Company’s stockholders within
such period, the Options shall be deemed nonqualified stock options. The Options shall vest as follows, provided that on each
such vesting date Executive is employed by the Company, and subject to the other provisions of this Agreement: (i) the Options
shall have a term of ten (10) years from the date of grant; (ii) one-third (1/3rd) of the Options shall vest every
successive one-year anniversary following the Effective Date during the Term with the last one-third (1/3rd) vesting
on the three-year anniversary of the Effective Date; and (iii) subject to Section 8, the vested Options shall be exercisable until
at least three (3) months following any termination of this Agreement, but no later than the end of the applicable term for each
such award. The Initial RSUs shall vest on the one-year anniversary of the Effective Date, subject to Executive’s continued
employment with the Company through such vesting date. The Additional RSUs shall vest in accordance with the following milestone
schedule (each such vesting date, a “Vesting Date”), subject to Executive’s continued employment with
the Company through the applicable Vesting Date:

 

	 	 	●	One-fourth
    (1/4th) of the Additional RSUs shall vest upon the Company submitting Clinical Trial Application (the “CTA”)
    for PRP, the Company’s lead product candidate (“PRP”), for a First-In-Human study for PRP (the “Study”)
    in an applicable jurisdiction selected by the Company;
	 	 	 	 
	 	 	●	One-fourth
    (1/4th) of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least
    $4,000,000 in gross proceeds, including proceeds from a financing consummated in connection with the Company’s engagement
    letter with its placement agent existing on the Effective Date (the “Initial Financing”);
	 	 	 	 
	 	 	●	One-fourth
    (1/4th) of the Additional RSUs shall vest upon the Company’s shares of Common Stock being listed on a senior
    stock exchange (NYSE, NYSE MKT or NASDAQ); and
	 	 	 	 
	 	 	●	One-fourth
    (1/4th) of the Additional RSUs shall vest upon the Company enrolling its first patient in the Study.

 

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Notwithstanding
anything to the contrary in this Agreement, in the event of a “Change of Control” (as defined below) fifty percent
(50%) of unvested portion of the Options and the RSUs shall vest immediately prior to such event. Each vested RSU shall be settled
by delivery to Executive of one share of Common Stock and/or the fair market value of one share of common stock in cash, at the
sole discretion of the Board and subject to the Plan, on the first to occur of: (i) the date of a Change of Control, (ii) the
date that is ten (10) business days following the vesting date of such RSUs, (iii) the date of Executive’s death, provided
such event occurs after the expiration of the Lock-up Period, and (iv) the date of Executive’s Disability (as defined below),
provided such event occurs after the expiration of the Lock-up Period (in any case, the “Settlement Date”).
Upon the Settlement Date, Executive shall be entitled, at his discretion and to the extent permitted by applicable law, to satisfy
his tax obligations arising in connection with the settlement of his RSUs through the sale by Executive in the open market of
a number of shares of Common Stock underlying the RSUs up to the maximum applicable withholding rate. As permitted by law and
subject to any required consents, on or before the Settlement Date, the Company shall use its commercially reasonable efforts
to file a Registration Statement on Form S-8 with the U.S. Securities and Exchange Commission to allow the Executive (and if permitted
by the Company, other senior executives) to settle a number of RSUs sufficient to cover his employment tax obligation arising
in connection with the settlement of his RSUs in the open market pursuant to such Form S-8 (the “S-8 Settlement”).

 

“Change
of Control” shall have the meaning provided in the Plan, except that (i) for purposes of determining whether a Change of
Control has occurred under this Agreement, the acquisition of additional stock and/or convertible securities by James Nathanielsz
and/or his affiliates resulting in him and/or his affiliates beneficially owning more (or subsequently less) than 50% of the total
voting power of the stock of the Company will not be considered a Change of Control, and (ii) for purposes of the Options and
the RSUs (and any other amounts payable on a Change of Control that constitute “nonqualified deferred compensation”
within the meaning of the 409A Rules), a Change of Control shall only be deemed to occur if such transaction also constitutes
a “change of control event” within the meaning of the 409A Rules. “Disability” shall have the meaning
provided in Section 4.4(b) below, except that for purposes of the Options and the RSUs (and any other amounts payable on a Disability
that constitute “nonqualified deferred compensation” within the meaning of the 409A Rules), a Disability shall only
exist if you are “disabled” within the meaning of the 409A Rules.

 

3.3
Tax Withholding. The Company may withhold from any amounts payable hereunder, including any amounts payable pursuant to
this Article 3 or pursuant to Article 4, any applicable federal, state, and local taxes that the Company is required withhold
pursuant to any applicable law.

 

3.4
Review of Gross Annual Package. The Executive’s annual salary provided in Section 3.1 will be reviewed and adjusted
to market rates upon either of the below, whichever comes first, provided, that on such date the Company’s financial resources
allow for such adjustment and the Executive joins the Company in a full-time capacity (unless otherwise agreed to by the Parties):

 

(i)
Two years from the Effective Date; or

 

(ii)
The Company completing an equity financing in the amount of at least $10,000,000 in gross proceeds in addition to the Initial
Financing.

 

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The
Executive’s annual salary will thereafter be reviewed annually and adjusted to market rates with any increase or decrease
in salary taking effect on the first payment date of such review; provided, that on such date the Company’s financial resources
allow for such adjustment and the Executive continues with the Company in a full-time capacity (unless otherwise agreed to by
the Parties).

 

3.5
Accrued Unpaid Salary. The Executive shall have the option to convert any and all accrued unpaid salary into the Company’s
Common Stock at the end of each fiscal year a conversion rate to be determined by the Parties, but in no event shall such conversion
rate be lower than the par value of such common stock or higher than the closing bid price on date of the Parties’ agreement
regarding such conversion.

 

3.6
Business Expenses. The Company shall promptly pay or reimburse the Executive for all reasonable and necessary out-of-pocket
expenses incurred or paid by the Executive during the Term in the performance of the Executive’s duties hereunder, upon
presentation of expense statements or vouchers and such other information as the Company may reasonably require and in accordance
with the generally applicable policies and procedures of the Company.

 

3.7
Indemnification. In the event that the Executive is made a party or threatened to be made a party to any action, suit,
or proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”), other than any Proceeding
initiated by the Executive or the Company related to any contest or dispute between the Executive and the Company or any of its
affiliates with respect to this Agreement or the Executive’s employment hereunder, by reason of the fact that the Executive
is or was a director or officer of the Company, or any affiliate of the Company, or is or was serving at the request of the Company
as a director, officer, member, employee or agent of another corporation or a partnership, joint venture, trust or other enterprise,
the Executive shall be indemnified and held harmless by the Company to the fullest extent applicable to any other officer or director
of the Company/to the maximum extent permitted under applicable law from and against any liabilities, costs, claims and expenses,
including all costs and expenses incurred in defense of any Proceeding (including attorneys’ fees).

 

3.8
Lock-Up Period. The Executive hereby agrees that if so requested by the Company or any representative of the Company’s
underwriters or placement agents (collectively, the “Managing Underwriter”) in connection with any registration
of the offering of any securities of the Company under the Securities Act of 1933, as amended (the “Securities Act”),
the Executive shall not sell or otherwise transfer any shares or other securities of the Company during the 180-day period (or
such longer period as may be requested in writing by the Managing Underwriter or placement agent and agreed to in writing by the
Company) (the “Market Standoff Period”) following the effective date of a registration statement of the Company
filed under the Securities Act; provided, however, that such restriction shall apply only to the first registration statement
of the Company to become effective under the Securities Act after the date hereof that includes securities to be sold on behalf
of the Company to the public in an underwritten or other public offering under the Securities Act. The Company may impose stop-transfer
instructions with respect to securities subject to the foregoing restrictions until the end of such Market Standoff Period and
these restrictions shall be binding on any transferee of such shares. Notwithstanding the foregoing, the 180-day period may be
extended for up to such number of additional days as is deemed reasonably necessary by the Company and/or the Managing Underwriter
agent to continue coverage by research analysts in accordance with FINRA Rule 2241 or any successor rule.

 

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4.
Termination of Officer Capacity.
This Agreement and the Executive’s appointment hereunder (the “Appointment”) may be terminated by either
the Company or the Executive at any time and for any reason; provided that, unless otherwise provided herein, either Party shall
be required to give the other party at least thirty (30) days advance written notice of any termination. Upon termination, the
Executive shall be entitled to the compensation and benefits described in this Section 4 and shall have no further rights to any
compensation or any other benefits from the Company or any of its affiliates.

 

4.1
Expiration of the Term, for Cause or Without Good Reason.

 

(a)
This Agreement and Appointment hereunder may be terminated upon the Executive’s failure to renew the Agreement in accordance
with Section 1, by the Company for Cause (as defined below) or by the Executive without Good Reason (as defined below). If this
Agreement and the Appointment is terminated upon the Executive’s failure to renew this Agreement, by the Company for Cause
or by the Executive without Good Reason, the Executive shall be entitled to receive:

 

(i)
any accrued but unpaid Base Salary; and

 

(ii)
reimbursement for unreimbursed business expenses properly incurred by the Executive, which shall be subject to and paid in accordance
with the Company’s expense reimbursement policy.

 

Items
4.1(a)(i) through 4.1(a)(ii) are referred to herein collectively as the “Accrued Amounts”.

 

(b)
For purposes of this Agreement, “Cause” shall mean:

 

(i)
The Executive’s conviction of a felony requiring intent under the laws of the United States or any State thereof or under
the laws of Australia, after the exhaustion of all possible appeals, or the Executive entering a plea of nolo contendere to any
charge of a felony requiring intent under the laws of the United States or any State thereof or under the laws of Australia; or

 

(ii)
a willful and substantial refusal by the Executive to perform duties or responsibilities reasonably assigned to Executive in accordance
with the terms of this Agreement, excluding any such failure by reason of death, Disability, or incapacity; or

 

(iii)
any material and willful violation of any written policy, standard or procedure of the Company or the laws, rules or regulations
of any governmental or regulatory body or agency that are generally applicable to senior employees or officers of the Company
and that results in a material negative effect on the business or financial condition of the Company; or

 

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(iv)
any act or omission that constitutes a material breach by the Executive of any of his agreements or obligations under this Agreement
that has a material negative effect on the business or financial condition of the Company; or

 

(v)
the Executive engaging in intentional acts of material fraud, embezzlement, misappropriation of funds, misconduct, gross negligence,
dishonesty (including, without limitation, theft), violence, threat of violence, sexual misconduct, harassment or any other activity
that has or could result in any material negative effect on the business or financial condition of the Company.

 

Termination
of this Agreement and the Appointment shall not be deemed to be for Cause unless and until the Company delivers to the Executive
a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the Board (excluding the Executive’s
board vote), after reasonable written notice is provided to the Executive and the Executive is given an opportunity, together
with counsel, to be heard before the Board, finding that the Executive is guilty of the conduct described in any of clauses (i)
through (v) (inclusive) above. Except for a failure, breach or refusal which, by its nature, cannot reasonably be expected to
be cured, the Executive shall have ten (10) business days from the delivery of written notice by the Company within which to cure
any acts constituting Cause; provided however, that, if the Company reasonably expects irreparable injury from a delay of ten
(10) business days, the Company may give the Executive notice of such shorter period within which to cure as is reasonable under
the circumstances.

 

(c)
For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following, in each case
during the Appointment without the Executive’s written consent:

 

(i)
a material reduction in the Executive’s Base Salary other than a general reduction in Base Salary that affects all similarly
situated executives in substantially the same proportions;

 

(ii)
any material breach by the Company of any material provision of this Agreement or any material provision of any other agreement
between the Executive and the Company;

 

(iii)
the Company’s failure to obtain an agreement from any successor to the Company to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform if no succession had taken place, except
where such assumption occurs by operation of law; or

 

(iv)
a material, adverse change in the Executive’s title, authority, duties or responsibilities (other than temporarily while
the Executive is physically or mentally incapacitated or as required by applicable law).

 

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Notwithstanding
the foregoing, in the event that a Change in occurs during the Term, the Executive may terminate this Agreement and the Appointment
for any reason during the thirty (30) day period following the Change in Control and such termination shall be deemed to be for
Good Reason.

 

4.2
Non-renewal by the Company, Without Cause or for Good Reason. This Agreement and the Appointment may be terminated by the
Executive for Good Reason or by the Company without Cause or on account of the Company’s failure to renew the Agreement
in accordance with Section 1. In the event of such termination, the Executive shall be entitled to receive the Accrued Amounts
and, the Executive shall be entitled to receive the following subject to timely execution of a Release pursuant to Section 4.6
and compliance with Section 4.6 and Exhibit A:

 

(a)
a lump sum payment equal to the sum of the Executive’s Base Salary for the year in which the Termination Date occurs (or
if greater, the year immediately preceding the year in which the Change in Control occurs) payable in equal installments in accordance
with the Company’s normal payroll practices, but no less frequently than monthly, which shall commence on the Termination
Date; and

 

(b)
Fifty percent (50%) of the portion of the Options and RSUs that are unvested as of the termination date, after taking into account
any acceleration of vesting based on the prior occurrence of any acceleration events specified hereunder (the “Unvested
Equity”), shall automatically and immediately become vested and, to the extent applicable, exercisable in full, as of
such termination date, and such vested RSUs shall be settled as set forth in Section 3.2 above, (ii) such accelerated Unvested
Equity (other than unvested RSUs) shall remain outstanding and be exercisable, to the extent applicable, for a period of three
(3) months from such termination date, but in all events no later than the end of the applicable term for each such award; and
(iii) all restrictions on the Unvested Equity shall automatically and immediately lapse (other than vesting, subject to the terms
of such awards).

 

4.3
Notice of Termination. Any termination hereunder by the Company or by the Executive during the Appointment shall be communicated
by written notice of termination (“Notice of Termination”) to the other Party hereto in accordance with Section
15. The Notice of Termination shall specify:

 

(a)
The termination provision of this Agreement relied upon;

 

(b)
To the extent applicable, the facts and circumstances claimed to provide a basis for termination of the Executive’s employment
under the provision so indicated; and

 

(c)
The applicable Termination Date.

 

4.4
Termination Date. The Executive’s Termination Date shall be:

 

(a)
If this Agreement and the Appointment terminates on account of the Executive’s death, the date of the Executive’s
death;

 

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(b)
If this Agreement and the Appointment is terminated on account of the Executive’s Disability, the date that it is determined
that the Executive has a Disability. For the purposes hereof, the term “Disability” means Executive’s
inability to perform his duties with the Company on a full-time basis, even with reasonable accommodation, for thirty (30) days
during any period of twelve (12) consecutive months, or twenty (20) consecutive days, in each case solely as a result of incapacity
due to mental or physical illness.

 

(c)
If the Executive terminates this Agreement and the Appointment with or without Good Reason, the date specified in the Executive’s
Notice of Termination, which shall be no less than fourteen (14) days following the date on which the Notice of Termination is
delivered; and

 

(d)
If this Agreement and the Appointment terminates because either Party provides notice of non-renewal pursuant to Section 1, the
Renewal Date immediately following the date on which the applicable party delivers notice of non-renewal.

 

4.5
Mitigation. In no event shall the Executive be obligated to take any action by way of mitigation of the amounts payable
to the Executive under any of the provisions of this Agreement, any amounts payable pursuant to this Section 4 shall not be reduced
by compensation the Executive earns on account of employment with another employer.

 

4.6
Release. In connection with any termination of Executive’s employment by the Company without Cause or by Executive
for Good Reason or on account of the Company’s failure to renew the Agreement in accordance with Section 1, each of the
Company and Executive shall execute and deliver a Mutual General Release in the form and substance of attached hereto as Exhibit
B (a “Release”) and the Executive’s right to payment of the amounts specified in Section 4.2 shall
be subject to Executive’s execution (without revocation) of such a Release within thirty (30) days after the Termination
Date.

 

4.7
Resignation from Directorships and Officerships. Unless otherwise agreed to by the Company in writing, the termination
of this Agreement or the Executive’s employment with the Company for any reason will constitute the Executive’s immediate
resignation from (a) any director, officer or employee position the Executive has with the Company or any of its Affiliates, and
(b) all fiduciary positions (including as a trustee) the Executive holds with respect to any employee benefit plans or trusts
established by the Company. The Executive agrees that this Agreement shall serve as written notice of resignation in this circumstance,
unless otherwise required by any plan or applicable law.

 

5.
Cooperation. The parties agree
that certain matters in which the Executive will be involved during the Appointment may necessitate the Executive’s cooperation
in the future. Accordingly, following the termination of this Agreement and the Appointment for any reason, to the extent reasonably
requested by the Board, the Executive shall cooperate with the Company in connection with matters arising out of the Executive’s
service to the Company; provided that, the Company shall make reasonable efforts to minimize disruption of the Executive’s
other activities. The Company shall reimburse the Executive for reasonable expenses incurred in connection with such cooperation
and, to the extent that the Executive is required to spend substantial time on such matters, the Company shall compensate the
Executive at an hourly rate.

 

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6.
Restrictive Covenants.

 

6.1
Non-competition. Because of the Company’s legitimate business interest as described herein and the good and valuable
consideration offered to the Executive, during the Appointment and for the term of two (2) years, to run consecutively, beginning
on the last day of the Appointment, the Executive agrees and covenants not to engage in Prohibited Activity.

 

For
purposes of this Section 7, “Prohibited Activity” is activity in which the Executive contributes his knowledge,
in whole or in part, as an employee, employer, owner, operator, manager, advisor, consultant, agent, employee, partner, director,
stockholder, officer, volunteer, intern or any other similar capacity to an entity engaged in the same or similar business as
the Company. Prohibited Activity also
includes activity that may require or inevitably requires disclosure of trade secrets, proprietary information or Confidential
Information.

 

This
Section 6 does not, in any way, restrict or impede the Executive from exercising protected rights to the extent that such rights
cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent
jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation
or order. The Executive shall promptly provide written notice of any such order to the Company.

 

7.
Governing Law: Jurisdiction and Venue;
Arbitration. This Agreement shall be deemed to be made in, and in all respects, shall be interpreted, construed, and governed
by and in accordance with, the laws of the State of Delaware, without regard to its conflicts of laws rules or provisions.

 

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To
ensure the rapid and economical resolution of disputes that may arise in connection with your employment with the Company, the
Parties agree that any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory
claims, arising from or relating to the enforcement, breach, performance, or interpretation of this Agreement, Executive’s
employment with the Company, or the termination of his employment, shall be resolved, to the fullest extent permitted by law,
by final, binding and confidential arbitration conducted by JAMS (New York office) or its successor, under JAMS’ then applicable
rules and procedures for employment disputes (available upon request and also currently available at http://www.jamsadr.com/rules-employment-arbitration).
Executive acknowledges that by agreeing to this arbitration procedure, each of the Parties waives the right to resolve any
such dispute through a trial by jury or judge or administrative proceeding. In addition, all claims, disputes, or causes of
action under this section, whether by Executive or the Company, must be brought in an individual capacity, and shall not be brought
as a plaintiff (or claimant) or class member in any purported class or representative proceeding, nor joined or consolidated with
the claims of any other person or entity. The arbitrator may not consolidate the claims of more than one person or entity, and
may not preside over any form of representative or class proceeding. To the extent that the preceding sentences regarding class
claims or proceedings are found to violate applicable law or are otherwise found unenforceable, any claim(s) alleged or brought
on behalf of a class shall proceed in a court of law rather than by arbitration. Executive will have the right to be represented
by legal counsel at any arbitration proceeding. The arbitrator shall: (a) have the authority to compel adequate discovery for
the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written statement
signed by the arbitrator regarding the disposition of each claim and the relief, if any, awarded as to each claim, the reasons
for the award, and the arbitrator’s essential findings and conclusions on which the award is based. The Parties agree that
the existence of such arbitration proceeding, the nature and facts thereof and any award made therein shall be confidential and
not disclosed to any third parties. The arbitrator shall be authorized to award all relief that Executive or the Company would
be entitled to seek in a court of law. Each party shall be responsible for its own costs and expenses incurred in connection with
such arbitration. The Parties consent and submit to the exclusive personal jurisdiction and venue of the Supreme Court of the
State of New York and the United States District Court for the Southern District of New York, each located in the City of New
York, State of New York, to compel arbitration in accordance with this Agreement, to enforce any arbitration award granted pursuant
to this Agreement, including, any award granting equitable or injunctive relief, and to otherwise enforce this Agreement and carry
out the intentions of the Parties to resolve all disputes arising under or in connection with this Agreement through arbitration.
Nothing in this Agreement is intended to prevent either Party from obtaining injunctive relief in court to prevent irreparable
harm pending the conclusion of any such arbitration.

 

8.
Entire Agreement. This Agreement
and the Confidentiality Agreement (including all exhibits and schedules attached hereto and thereto) together set forth the compete,
entire, and final agreement between the Company and the Executive relating to the subject matter hereof and terminates, cancels,
and supersedes any and all prior agreements, communications, contracts, representations, or understandings, in each case whether
oral or written, between the Company and the Executive relating to the subject matter hereof. No amendment, modification, or supplement
to this Agreement is valid, binding, or enforceable unless the same is in writing and executed and delivered on behalf of the
Company and by Executive.

 

9.
Modification and Waiver. No provision
of this Agreement may be amended or modified unless such amendment or modification is agreed to in writing by the parties. No
waiver by either of the parties of any breach by the other party hereto of any condition or provision of this Agreement to be
performed by the other party hereto shall be deemed a waiver of any similar or dissimilar provision or condition at the same or
any prior or subsequent time, nor shall the failure of or delay by either of the parties in exercising any right, power or privilege
hereunder operate as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other such right,
power or privilege.

 

    	 	11	 

    	 

    

 

10.
Severability. Should any provision
of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if any portion of this Agreement
shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder of this Agreement,
the balance of which shall continue to be binding upon the parties with any such modification to become a part hereof and treated
as though originally set forth in this Agreement.

 

The
Parties further agree that any such court is expressly authorized to modify any such unenforceable provision of this Agreement
in lieu of severing such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision,
deleting any or all of the offending provision, adding additional language to this Agreement or by making such other modifications
as it deems warranted to carry out the intent and agreement of the parties as embodied herein to the maximum extent permitted
by law.

 

The
Parties expressly agree that this Agreement as so modified by the court shall be binding upon and enforceable against each of
them. In any event, should one or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in
any respect, such invalidity, illegality or unenforceability shall not affect any other provisions hereof, and if such provision
or provisions are not modified as provided above, this Agreement shall be construed as if such invalid, illegal or unenforceable
provisions had not been set forth herein.

 

11.
Captions. Captions and headings
of the sections and paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement is to
be construed by reference to the caption or heading of any section or paragraph.

 

12.
Counterparts. This Agreement may
be executed in separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute
one and the same instrument.

 

13.
Successors and Assigns. This Agreement
is personal to the Executive and shall not be assigned by the Executive. Any purported assignment by the Executive shall be null
and void from the initial date of the purported assignment. The Company may assign this Agreement to any successor or assign (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of
the Company. This Agreement shall inure to the benefit of the Company and permitted successors and assigns.

 

14.
Notice. Notices and all other communications
provided for in this Agreement shall be in writing and shall be delivered personally or sent by registered or certified mail,
return receipt requested, or by overnight carrier to the parties at the addresses set forth below (or such other addresses as
specified by the parties by like notice):

 

If
to the Company:

 

Propanc
Biopharma, Inc.

302,
6 Butler Street

Camberwell,
VIC, 3124 Australia

 

If
to the Executive:

 

At
the last address provided by the Executive as reflected on the Company’s records

 

    	 	12	 

    	 

    

 

15.
Representations of the Executive.
The Executive represents and warrants to the Company that:

 

15.1
The Executive’s acceptance of Appointment with the Company and the performance of his duties hereunder will not conflict
with or result in a violation of, a breach of, or a default under any contract, agreement or understanding to which he is a party
or is otherwise bound.

 

15.2
The Executive’s acceptance of Appointment with the Company and the performance of his duties hereunder will not violate
any non-solicitation, non-competition or other similar covenant or agreement of a prior employer.

 

16.
Survival. Upon the expiration or
other termination of this Agreement, the respective rights and obligations of the parties hereto shall survive such expiration
or other termination to the extent necessary to carry out the intentions of the parties under this Agreement.

 

17.
Acknowledgment of Full Understanding.
THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE HAS FULLY READ, UNDERSTANDS AND VOLUNTARILY ENTERS INTO THIS AGREEMENT. THE
EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE HAS HAD AN OPPORTUNITY TO ASK QUESTIONS AND CONSULT WITH AN ATTORNEY OF HIS CHOICE BEFORE
SIGNING THIS AGREEMENT.

 

[Signature
page follows]

 

    	 	13	 

    	 

    

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	 	PROPANC BIOPHARMA, INC.
	 	 	 
	 	By:	/s/
    James Nathanielsz
	 	Name: 	James
    Nathanielsz
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	JULIAN KENYON
	 	 	 
	 	/s/ Julian Kenyon
	 	(signature)

 

[Propanc
Biopharma, Inc./Kenyon Services Agreement – Signature Page]

 

    	 	14	 

    	 

    

 

EXHIBIT
“A”

 

CONFIDENTIALITY,
NON-INTERFERENCE AND INVENTION ASSIGNMENT AGREEMENT

 

As
a condition of the Company agreeing for me to provide services to, continuing to provide services to, and/or serve as a director
of, Propanc Biopharma, Inc., a Delaware corporation (the “Company”), and in consideration of such agreement
by the Company and my receipt of the compensation now and hereafter paid to me by the Company, I agree to the following. All initially
capitalized terms used but not defined herein have the respective meanings given to such terms in the Amended and Restated Services
Agreement between the Company and me dated May 14, 2019 (the “Services Agreement”)

 

Section
1. Confidential Information.

 

(a)
Company Group Information. I acknowledge that, during the course of my employment, I will have access to non-public information
about the Company and its direct and indirect subsidiaries and affiliates (collectively, the “Company Group”)
and that my employment with the Company shall bring me into close contact with confidential and proprietary information of the
Company Group. In recognition of the foregoing, I agree, at all times during the term of my employment with the Company and for
the five (5) year period following my termination of my employment for any reason, to hold in confidence, and not to use, except
for the benefit of the Company Group, or to disclose to any person, firm, corporation, or other entity without written authorization
of the Company or except as expressly permitted herein, any Confidential Information that I obtain or create. I further agree
not to make copies of such Confidential Information except as authorized by the Company, or except as permitted herein, or as
otherwise necessary to fulfill my duties to the Company. For the purposes hereof, “Confidential Information”
means information that the Company Group has developed, acquired, created, compiled, discovered, or owned or will develop, acquire,
create, compile, discover, or own, that has value in or to the business of the Company Group that is not generally known and that
the Company wishes to maintain as confidential. I understand that Confidential Information includes, but is not limited to, any
and all non-public information that relates to the actual or anticipated business and/or products, research, or development of
the Company, or to the Company’s technical data, trade secrets, or know-how, including, without limitation, proposals and
development work for television programs, formats, copyright works, research, product plans, or other information regarding the
Company’s products or services and markets, customer lists, and customers (including, without limitation, customers of the
Company on whom I called or with whom I may become acquainted during the term of my employment), software, developments, inventions,
processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing, finances, and
other business information disclosed by the Company either directly or indirectly in writing, orally, or by drawings or inspection
of premises, parts, equipment, or other Company property. Notwithstanding the foregoing, Confidential Information shall not include
(i) any of the foregoing items that are, or become, publicly known through no unauthorized disclosure by me, (ii) any of the foregoing
items lawfully disclosed to me free of restriction from a source that was not legally or contractually prohibited from disclosing
such item, or (iii) any of the foregoing items or other information that I had or owned prior to my employment with the Company.
Notwithstanding anything to the contrary contained herein, I am permitted to disclose any Confidential Information if and to the
extent I am required to do so by, or pursuant to any order of, any court, tribunal, or other governmental, judicial, arbitral,
administrative, or regulatory authority, agency, or instrumentality. In the event I am so required to disclose any Confidential
Information, I will, if permitted pursuant to applicable law, give the Company prompt notice thereof so that the Company Group,
at its sole cost and expense, may seek an appropriate protective order and/or waive compliance with the confidentiality provisions
of this Confidentiality, Non-Interference, and Invention Assignment Agreement (the “Confidentiality Agreement”).

 

    	 	15	 

    	 

    

 

(b)
Former Employer Information. I represent that my performance of all of the terms of this Confidentiality Agreement as an
employee of the Company has not breached and will not breach any agreement to keep in confidence proprietary information, knowledge,
or data acquired by me in confidence or trust prior or subsequent to the commencement of my employment with the Company, and I
will not disclose to any member of the Company Group, or induce any member of the Company Group to use, any developments, or confidential
or proprietary information or material I may have obtained in connection with employment with any prior employer in violation
of a confidentiality agreement, nondisclosure agreement, or similar agreement with such prior employer.

 

Section
2. Developments.

 

(a)
Developments Retained and Licensed. I hereby represent and warrant that there are not any developments, original works
of authorship, improvements, or trade secrets which were created or owned by me prior to the commencement of the Employment Period
(collectively referred to as “Prior Developments”). If the foregoing representation and warranty is breached,
and during any period during which I perform or performed services for the Company both before or after the date hereof (the “Assignment
Period”), I incorporate or have incorporated into a Company product, program, service or other work a Prior Development
owned by me or in which I have an interest, then I hereby grant the Company a non-exclusive, royalty-free, irrevocable, perpetual,
worldwide license (with the right to sublicense) to make, have made, copy, modify, make derivative works of, use, sell and otherwise
distribute such Prior Development, to the extent of my interest therein, as part of or in connection with such product, program,
service or work.

 

    	 	16	 

    	 

    

 

(b)
Assignment of Developments. I hereby assign to the Company all my right, title and interest throughout the world (if any)
in and to any and all (i) inventions (whether patentable or unpatentable and whether or not reduced to practice), all improvements
thereto, and all patents, patent applications, and patent disclosures, together with all reissuances, continuations, continuations-in-part,
revisions, extensions and reexaminations thereof, (ii) trademarks, service marks, trade dress, logos, titles and working titles,
together with all translations, adaptations, derivations, and combinations thereof and including all goodwill associated therewith,
and all applications, registrations and renewals in connection therewith, (iii) copyrightable works, all copyrights, and all applications,
registrations and renewals in connection therewith, (iv) trade secrets and confidential business information (excluding general
industry knowledge and contacts) and all ideas, research and development, know-how, formulas, compositions, manufacturing and
production processes and techniques, technical data, designs, drawings, specifications, technology, systems, and business and
marketing plans and proposals, (v) rights in and to computer software (including object code, source code, data and related documentation),
(vi) Internet Web sites, including domain name registrations and content and software included therein, (vii) other proprietary
rights, including, without limitation, original works of authorship, content, dialogue, plots, scripts, scenarios, music programming,
formats, graphics, productions, products, programs, services, concepts, moral rights, rights to characters, actions, acts, gags,
routines, materials, ideas, names, likeness, image, personality, publicity etc., (viii) rights to exploit, collect remuneration
for, and recover for past infringements of any of the foregoing and (ix) copies and tangible embodiments thereof (in whatever
form or medium), whether or not patentable or registrable under copyright or similar laws, which I may solely or jointly conceive
or develop or reduce to practice or cause to be conceived or developed or reduced to practice, or have conceived or developed
or reduced to practice or have caused to be conceived or developed or reduced to practice, during the Employment Period, whether
or not during regular working hours, in each case only if the applicable item (A) relates at the time of conception or development
to the actual or demonstrably proposed business or research and development activities of the Company; (B) results from or relates
to any work performed by me for the Company; or (C) is developed through the use of Confidential Information and/or resources
of the Company (collectively referred to as “Developments”). I further acknowledge that all Developments which
are or were made by me (solely or jointly with others) during the Assignment Period are “works made for hire” as to
my contribution (to the greatest extent permitted by applicable law) for which I am, in part, compensated by my salary, unless
regulated otherwise by law, but that, in the event any such Development is deemed not to be a work made for hire, I hereby assign
any right, title and interest throughout the world in any such Development to the Company or its designee. If any Developments
cannot be assigned, I hereby grant to the Company an exclusive, assignable, irrevocable, perpetual, worldwide, sublicenseable
(through one or multiple tiers), royalty-free, unlimited license to use, make, modify, sell, offer for sale, reproduce, distribute,
create derivative works of, publicly perform, publicly display and digitally perform and display such work in any media now known
or hereafter known. Outside the scope of my service, whether during or after my employment with the Company, I agree not to (x)
modify, adapt, alter, translate, or create derivative works from any such work of authorship or (y) merge any such work of authorship
with other Developments. To the extent rights related to paternity, integrity, disclosure and withdrawal (collectively, “Moral
Rights”) may not be assignable under applicable law and to the extent the following is allowed by the laws in the various
countries where Moral Rights exist, I hereby irrevocably waive such Moral Rights in and to all or any Developments and consent
to any action of the Company Group that would violate such Moral Rights in the absence of such consent.

 

(c)
Maintenance of Records. I agree to keep and maintain adequate and current written records of all Developments made by me
(solely or jointly with others) during the Assignment Period. The records may be in the form of notes, sketches, drawings, flow
charts, electronic data or recordings, and any other format. The records will be available to and remain the sole property of
the Company at all times. I agree not to remove such records from the Company’s place of business except as expressly permitted
by Company policy, which may, from time to time, be revised at the sole election of the Company for the purpose of furthering
the business of the Company.

 

    	 	17	 

    	 

    

 

(d)
Intellectual Property Rights. I agree to assist the Company, or its designee, at the Company’s expense, in every
way to secure the rights of the Company in the Developments and any copyrights, patents, trademarks, service marks, database rights,
domain names, mask work rights, moral rights, or other intellectual property rights relating thereto in any and all countries,
including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications,
specifications, oaths, assignments, recordations, and all other instruments which the Company shall deem necessary in order to
apply for, obtain, maintain and transfer such rights and in order to assign and convey to the Company the sole and exclusive right,
title and interest in and to such Developments, and any intellectual property or other proprietary rights relating thereto. I
further agree that my obligation to execute or cause to be executed, when it is in my power to do so, any such instrument or papers
shall continue after the Assignment Period until the expiration of the last such intellectual property right to expire in any
country of the world; provided, however, the Company shall reimburse me for my reasonable expenses incurred in connection with
carrying out the foregoing obligation. If the Company is unable because of my mental or physical incapacity or unavailability
for any other reason to secure my signature to apply for or to pursue any application for any United States or foreign patents
or copyright registrations covering Developments or original works of authorship assigned to the Company as above, then I hereby
irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, to
act for and in my behalf and stead only to execute and file any such applications or records and only to do all other lawfully
permitted acts to further the application for, prosecution, issuance, maintenance or transfer of letters patent or registrations
thereon with the same legal force and effect as if originally executed by me. I hereby waive and irrevocably quitclaim to the
Company any and all claims, of any nature whatsoever, which I now or hereafter have for past, present or future infringement of
any and all proprietary rights assigned to the Company hereunder.

 

Section
3. Returning Company Group Documents. I agree that, at the time of termination of my employment with the Company for any reason,
or earlier if reasonably requested, I will deliver to the Company (and will not keep in my possession, recreate, or deliver to
anyone else) any and all Confidential Information and all other documents, materials, information, and property developed by me
pursuant to my employment or otherwise belonging to the Company. I agree further that any property situated on the Company’s
premises and owned by the Company (or any other member of the Company Group), including disks and other storage media, filing
cabinets, and other work areas, is subject to inspection by personnel of any member of the Company Group at any time with or without
notice.

 

Section
4. Disclosure of Agreement. As long as it remains in effect, I will disclose the existence of this Confidentiality Agreement
to any prospective employer, partner, co-venturer, investor, or lender prior to entering into an employment, partnership, or other
business relationship with such person or entity.

 

Section
5. Restrictions on Interfering.

 

(a)
Non-Interference. During the period of my employment with the Company (the “Employment Period”) and
the Post-Termination Non-Interference Period, I shall not, directly or indirectly for my own account or for the account of any
other individual or entity, engage in Interfering Activities.

 

(b)
Definitions. For purposes of this Confidentiality Agreement:

 

(i)
“Business Relation” shall mean any current or prospective client, customer, licensee, account, supplier or
other business relation of the Company Group, or any such relation that was a client, customer, licensee, account, supplier, or
other business relation within the six (6) month period prior to the expiration of the Employment Period, in each case, to whom
I provided services, or with whom I transacted business.

 

    	 	18	 

    	 

    

 

(ii)
“Interfering Activities” means (A) encouraging, soliciting, or inducing, or in any manner attempting to encourage,
solicit, or induce, any Person employed by, or providing consulting services to, any member of the Company Group(each, a “Restricted
Associate”) to terminate such Person’s employment or services (or in the case of a consultant, materially reducing
such services) with the Company Group, provided that the foregoing shall not be violated by general advertising not targeted at
employees or consultants of any member of the Company Group; or (B) encouraging, soliciting, or inducing, or in any manner attempting
to encourage, solicit, or induce, any Business Relation to cease doing business with or reduce the amount of business conducted
with the Company Group, or in any way interfering with the relationship between any such Business Relation and the Company Group.
Notwithstanding the foregoing, for the purposes hereof the term “Interfering Activities” excludes my taking all or
any of the following actions, whether for my account or benefit or for the account or benefit of any other Person: (x) hiring
any Restricted Associate or engaging any Restricted Associate to otherwise render services (whether consulting or otherwise),
so long as in connection therewith I do not knowingly encourage, induce, or solicit, or knowingly attempt to encourage, induce,
or solicit, the respective Restricted Associate in violation of the above clause (A) of this definition; (y) engaging in, accepting,
or otherwise conducting business with any Business Relation, so long as in connection therewith I do not knowingly encourage,
solicit, or induce, or knowingly attempt to encourage, solicit, or induce, the respective Business Relation in violation of the
above clause (C) of this definition; or (z) communicating, or any Person at my direction communicating, to any Persons, including,
without limitation, any Restricted Associate or any Business Relation, by any means, method, media, or format now or hereafter
known (including, without limitation, via any present or future social media service, such as, without limitation, LinkedIn, Facebook,
or Twitter), any change in my employment, including, but not limited to, the cessation of my employment with the Company or my
employment with any Person other than the Company.

 

(iii)
“Person” means any individual, corporation, partnership, limited liability company, joint venture, association,
joint-stock company, trust (charitable or non-charitable), unincorporated organization, or other form of business entity.

 

(iv)
“Post-Termination Non-Interference Period” means the period commencing on the date of the termination of my
employment with the Company for any reason and ending on the twenty-four (24) month anniversary of such date of termination.

 

Section
6. Reasonableness of Restrictions. I acknowledge and recognize the highly competitive nature of the Company’s business,
that access to Confidential Information renders me special and unique within the Company’s industry, and that I will have
the opportunity to develop substantial relationships with existing and prospective clients, accounts, customers, consultants,
contractors, investors, and strategic partners of the Company Group during the course of and as a result of my employment with
the Company. In light of the foregoing, I recognize and acknowledge that the restrictions and limitations set forth in this Confidentiality
Agreement are reasonable and valid in geographical and temporal scope and in all other respects and are essential to protect the
value of the business and assets of the Company Group. I acknowledge further that the restrictions and limitations set forth in
this Confidentiality Agreement will not materially interfere with my ability to earn a living following the termination of my
employment with the Company and that my ability to earn a livelihood without violating such restrictions is a material condition
to my employment with the Company.

 

    	 	19	 

    	 

    

 

Section
7. Independence; Severability; Blue Pencil. Each of the rights enumerated in this Confidentiality Agreement shall be independent
of the others and shall be in addition to and not in lieu of any other rights and remedies available to the Company Group at law
or in equity. If any of the provisions of this Confidentiality Agreement or any part of any of them is hereafter construed or
adjudicated to be invalid or unenforceable, the same shall not affect the remainder of this Confidentiality Agreement, which shall
be given full effect without regard to the invalid portions.

 

Section
8. Injunctive Relief. I expressly acknowledge that any breach or threatened breach of any of the terms and/or conditions set
forth in this Confidentiality Agreement may result in substantial, continuing, and irreparable injury to the members of the Company
Group. Therefore, I hereby agree that, in addition to any other remedy that may be available to the Company, any member of the
Company Group shall be entitled to seek injunctive relief, specific performance, or other equitable relief by a court of appropriate
jurisdiction in the event of any breach or threatened breach of the terms of this Confidentiality Agreement without the necessity
of posting of a bond.

 

Section
9. General Provisions.

 

(a)
Governing Law; Jurisdiction; Arbitration. Except where preempted by federal law, all matters in connection with, relating
to, or arising from this Confidentiality Agreement, including, without limitation, the validity, interpretation, construction,
and performance of this Confidentiality Agreement, is governed by and is to be construed under the laws of the state of Delaware
applicable to agreements made and to be performed in that state, without regard to conflict of laws rules of the State of Delaware
that would result in the application of the laws of any jurisdiction other than the state of Delaware.

 

To
ensure the rapid and economical resolution of disputes that may arise in connection with this Confidentiality Agreement, the parties
hereto agree that any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory
claims, arising from or relating to the enforcement, breach, performance, or interpretation of this Confidentiality Agreement,
shall be resolved, to the fullest extent permitted by law, by final, binding and confidential arbitration conducted by JAMS (Los
Angeles office) or its successor, under JAMS’ then applicable rules and procedures for employment disputes (available upon
request and also currently available at http://www.jamsadr.com/rules-employment-arbitration). I acknowledge that by
agreeing to this arbitration procedure, each of the parties hereto waives the right to resolve any such dispute through a trial
by jury or judge or administrative proceeding. In addition, all claims, disputes, or causes of action under this section,
whether by me or the Company, must be brought in an individual capacity, and shall not be brought as a plaintiff (or claimant)
or class member in any purported class or representative proceeding, nor joined or consolidated with the claims of any other person
or entity. The arbitrator may not consolidate the claims of more than one person or entity, and may not preside over any form
of representative or class proceeding. To the extent that the preceding sentences regarding class claims or proceedings are found
to violate applicable law or are otherwise found unenforceable, any claim(s) alleged or brought on behalf of a class shall proceed
in a court of law rather than by arbitration. I will have the right to be represented by legal counsel at any arbitration proceeding.
The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such
relief as would otherwise be permitted by law; and (b) issue a written statement signed by the arbitrator regarding the disposition
of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the arbitrator’s essential
findings and conclusions on which the award is based. The parties hereto agree that the existence of such arbitration proceeding,
the nature and facts thereof and any award made therein shall be confidential and not disclosed to any third parties. The arbitrator
shall be authorized to award all relief that Executive or the Company would be entitled to seek in a court of law. Each party
hereto shall be responsible for its own costs and expenses incurred in connection with such arbitration. The parties hereto consent
and submit to the exclusive personal jurisdiction and venue of the Superior Court of the State of California and the United States
District Court for the Central District of California, Western Division, each located in the City of Los Angeles, State of California,
to compel arbitration in accordance with this Confidentiality Agreement, to enforce any arbitration award granted pursuant to
this Confidentiality Agreement, including, any award granting equitable or injunctive relief, and to otherwise enforce this Confidentiality
Agreement and carry out the intentions of the Parties to resolve all disputes arising under or in connection with this Confidentiality
Agreement through arbitration. Nothing in this Confidentiality Agreement is intended to prevent either party hereto from obtaining
injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration.

 

    	 	20	 

    	 

    

 

(b)
Entire Agreement. This Confidentiality Agreement sets forth the entire agreement and understanding between the Company
and me relating to the subject matter herein and merges all prior discussions and communications between the Company and me relating
to the same. No modification or amendment to this Confidentiality Agreement, nor any waiver of any rights under this Confidentiality
Agreement, will be effective unless in writing and signed and delivered by each of the Company and me. Any subsequent change or
changes in my duties, obligations, rights, or compensation will not affect the validity or scope of this Confidentiality Agreement.

 

(c)
Successors and Assigns. Section 13 of the Services Agreement is incorporated into this Confidentiality Agreement by reference,
mutatis mutandis. Notwithstanding anything to the contrary contained in the Services Agreement or in this Confidentiality
Agreement, the Company is prohibited from assigning or delegating all or any portion of this Confidentiality Agreement except
in compliance with this Section 9(c) in connection with an assignment or delegation of the Services Agreement that is effected
in compliance with Section 13 of the Services Agreement. Subject to the two immediately preceding sentences, this Confidentiality
Agreement will be binding upon my heirs, executors, administrators, and other legal representatives and will be binding upon and
for the benefit of the Company, its successors, and its assigns.

 

(d)
Survival. The provisions of this Confidentiality Agreement shall survive the termination of my employment with the Company
and/or the assignment, in compliance with the requirements hereof, of this Confidentiality Agreement by the Company to any successor
in interest or other assignee, in each case subject to the temporal limitations contained herein.

 

(e)
Construction. Each party hereto has had an adequate opportunity to have this Confidentiality Agreement reviewed by counsel.
If an ambiguity or question of intent or interpretation arises, this Confidentiality Agreement shall be construed as if drafted
jointly by the parties hereto. This Confidentiality Agreement shall be construed without regard to any presumption, rule or burden
of proof regarding the favoring or disfavoring of any party hereto by virtue of the authorship of any of the provisions of this
Confidentiality Agreement. In the event any of the provisions of this Confidentiality Agreement conflict with any of the provisions
of the Services Agreement, the respective provisions of the Services Agreement govern and control.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	21	 

    	 

    

 

I,
Dr. Julian Kenyon, have executed this Confidentiality, Non-Interference, and Invention Assignment Agreement on the date set forth
below:

 

	Date:
    May 14, 2019	/s/
    Julian Kenyon
	 	(Signature)
	 	 
	 	 
	 	Dr.
    Julian Kenyon

 

ACCEPTED AND AGREED TO:

 

PROPANC BIOPHARMA, INC.

 

	By:
    	/s/
    James Nathanielsz	 
	Name:
    	James
    Nathanielsz	 
	Title:
    	Chief
    Executive Officer	 

 

[Propanc
Biopharma, Inc./Kenyon Services Agreement – Exhibit A Signature Page]

 

    	 	22	 

    	 

    

 

EXHIBIT
“B”

 

[FORM
OF]

 

MUTUAL
RELEASE OF CLAIMS

 

This
Mutual Release of Claims (this “Release”), is entered into as of the date of the last signature below, by and
between Propanc Biopharma, Inc. (the “Company”) and James Nathanielsz (“Executive”) and
is executed by each of the Company and Executive pursuant to Section [4.6] of that certain Amended and Restated Services Agreement,
dated May ___, 2019 (the “Services Agreement”), by and between the Company and Executive. Capitalized terms
used in this Release without definition shall have the meanings ascribed thereto in the Services Agreement. Executive and the
Company sometimes are referred to herein collectively as the “Parties” and each individually as a “Party”.
The Company and Executive agree as follows:

 

1.
Release by Executive. Executive, on his own behalf and on behalf of his descendants, dependents, heirs, devisees, legatees,
executors, administrators, legal or personal representatives, trustees, assigns, and successors (individually and collectively,
the “Executive Parties”), and each of them, hereby acknowledges full and complete satisfaction of and releases
and discharges the Company, and each of its Affiliates, subsidiaries, divisions, or parents,, past and present, and each of them,
as well as their respective predecessors, assignees, successors, directors, officers, stockholders, partners, representatives,
attorneys, agents or employees, past or present, or any of them (individually and collectively, the “Company Parties”),
from and with respect to any and all claims, agreements, obligations, demands and causes of action, known or unknown, suspected
or unsuspected, that Executive has ever had, or now has, or ever will have, against the Company Parties by reason of any and all
acts, omissions, conditions, events, circumstances, or facts existing, occurring, or failing to occur at any time through the
date of Executive’s execution of this Release that directly or indirectly arise out of, relate to, or are connected in any
way with Executive’s employment by, services to (whether as an employee, officer, director, or otherwise), or separation
from, all or any of the Company Parties, including, without limiting the generality of the foregoing, any claim under Title VII
of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Family and Medical Leave Act, or any other federal,
state or local law, regulation or ordinance relating to employment (the foregoing, as modified by the following clause, collectively,
the “Executive Released Claims”); except that notwithstanding anything to the contrary herein, the release
set forth in this Section 1 expressly excludes, and shall not alter, limit, release, apply to, or otherwise affect, and the term
Executive Released Claims shall not include; (a) the obligations and covenants of the Company and the rights of Executive in each
case that, directly or by implication, survive the termination of Executive’s employment with the Company pursuant to Section
[16] of the Services Agreement; (b) any claim that is prohibited from being released as a matter of law; (c) Executive’s
rights to tail indemnification or contribution, whether pursuant to the governance documents of any of the Company Parties (including,
without limitation, pursuant to any certificate of incorporation, bylaws or any written agreements) or Section [3.7] of the Services
Agreement (d) any rights or claims of Executive as a stockholder of the Company; (e) any vested rights or vested benefits under
ERISA or under any Benefit Plan; (f) workers’ compensation benefits; and (g) any claims arising after the date of Executive’s
execution of this Release.

 

    	 	23	 

    	 

    

 

2.
It is a condition hereof, and it is the Parties’ intention in the execution of this Release, that the release set forth
in Section 1 above shall be effective as a bar to each and all of the Executive Released Claims.

 

3.
ADEA Waiver. Executive expressly acknowledges and agrees that by entering into this Release, he is waiving any and all
rights or claims that he may have arising under the Age Discrimination in Employment Act of 1967, as amended (“ADEA”),
which have arisen on or before the date of execution of this Release. Executive further expressly acknowledges and agrees that:

 

(a)
In return for this Release, he will receive consideration beyond that which he was already entitled to receive before entering
into this Release;

 

(b)
He is hereby advised in writing by this Release to consult with an attorney before signing this Release;

 

(c)
He was given a copy of this Release on [_________], and informed that he had twenty-one (21) days within which to consider
this Release, that changes (whether material or otherwise) will not restart the 21-day period;

 

(d)
Nothing in this Release prevents or precludes Executive from challenging or seeking a determination in good faith of the validity
of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs from doing so, unless specifically
authorized by federal law; and

 

(e)
He was informed that he has seven (7) days following the date of execution of this Release in which to revoke this Release, and
this Release will become null and void if Executive so elects revocation during that time. Any revocation must be in writing and
must be received by the Company during the seven (7)-day revocation period. In the event that Executive exercises his right of
revocation, neither the Company nor Executive will have any obligations under this Release.

 

4.
Release by Company. The Company, on behalf of itself and each and all of the other Company Parties, hereby acknowledges
full and complete satisfaction of and releases and discharges each and all of the Executive Parties from and with respect to any
and all claims, agreements, obligations, demands and causes of action, known or unknown, suspected or unsuspected, that all or
any of the Company Parties have ever had, or now have, or ever will have, against all or any of the Executive Parties by reason
of any and all acts, omissions, conditions, events, circumstances, or facts existing, occurring, or failing to occur at any time
through the date of the Company’s execution of this Release that directly or indirectly arise out of, relate to, or are
connected with Executive’s employment by, services to (whether as an employee, officer, director, or otherwise), or separation
from, all or any of the Company Parties(the foregoing, as modified by the following clause, collectively, the “Company Released
Claims”); except that notwithstanding anything to the contrary herein, the release set forth in this Section
4 expressly excludes, and shall not alter, limit, release, apply to, or otherwise affect, and the term Company Released Claims
shall not include (a) the obligations of Executive that survive the termination of Executive’s employment with the Company
pursuant to Section 16 of the Services Agreement and that certain Confidentiality, Non-Interference, and Invention Assignment
Agreement dated [*] between the Company and Executive; and (b) any claims arising after the date of the Company’s execution
of this Release.

 

    	 	24	 

    	 

    

 

5.
It is a condition hereof, and it is the Parties’ intention in the execution of this Agreement, that the release set
forth in Section 4 above shall be effective as a bar to each and all of the Company Released Claims.

 

6.
No Transferred Claims. Executive represents and warrants to the Company, that he has not heretofore assigned or transferred
to any person or entity any of the Executive Released Claims or any part or portion thereof. The Company represents and warrants
to Executive that it has not heretofore assigned or transferred to any person or entity any of the Company Released Claims or
any part or portion thereof.

 

7.
Miscellaneous. The following provisions shall apply for purposes of this Release:

 

(a)
Section Headings. The section headings contained in this Release are for reference purposes only and shall not affect in
any way the meaning or interpretation of this Release.

 

(b)
Governing Law; Jurisdiction; Arbitration. All matters in connection with, relating to, or arising from this Release shall
be governed by and construed in accordance with the internal laws of the State of Delaware, without regard to the principles of
conflicts of law thereof (to the extent that the application of the laws of another jurisdiction would be required thereby).

 

To
ensure the rapid and economical resolution of disputes that may arise in connection with this Release, the Parties agree that
any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory claims, arising from
or relating to the enforcement, breach, performance, or interpretation of this Release, Executive’s employment with the
Company, or the termination of his employment, shall be resolved, to the fullest extent permitted by law, by final, binding and
confidential arbitration conducted by JAMS (Los Angeles office) or its successor, under JAMS’ then applicable rules and
procedures for employment disputes (available upon request and also currently available at http://www.jamsadr.com/rules-employment-arbitration).
Executive acknowledges that by agreeing to this arbitration procedure, each of the Parties waives the right to resolve any
such dispute through a trial by jury or judge or administrative proceeding. In addition, all claims, disputes, or causes of
action under this section, whether by Executive or the Company, must be brought in an individual capacity, and shall not be brought
as a plaintiff (or claimant) or class member in any purported class or representative proceeding, nor joined or consolidated with
the claims of any other person or entity. The arbitrator may not consolidate the claims of more than one person or entity, and
may not preside over any form of representative or class proceeding. To the extent that the preceding sentences regarding class
claims or proceedings are found to violate applicable law or are otherwise found unenforceable, any claim(s) alleged or brought
on behalf of a class shall proceed in a court of law rather than by arbitration. Executive will have the right to be represented
by legal counsel at any arbitration proceeding. The arbitrator shall: (a) have the authority to compel adequate discovery for
the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written statement
signed by the arbitrator regarding the disposition of each claim and the relief, if any, awarded as to each claim, the reasons
for the award, and the arbitrator’s essential findings and conclusions on which the award is based. The Parties agree that
the existence of such arbitration proceeding, the nature and facts thereof and any award made therein shall be strictly confidential
and not disclosed to any third parties (except as maybe necessary to enforce any arbitration award granted pursuant to this Release,
including, any award granting equitable or injunctive relief, and to otherwise enforce this Release). The arbitrator shall be
authorized to award all relief that Executive or the Company would be entitled to seek in a court of law. Each party shall be
responsible for its own costs and expenses incurred in connection with such arbitration. The Parties consent and submit to the
exclusive personal jurisdiction and venue of the Superior Court of the State of California and the United States District Court
for the Central District of California, Western Division, each located in the City of Los Angeles, State of California, to compel
arbitration in accordance with this Release, to enforce any arbitration award granted pursuant to this Release, including, any
award granting equitable or injunctive relief, and to otherwise enforce this Release and carry out the intentions of the Parties
to resolve all disputes arising under or in connection with this Release through arbitration. Nothing in this Release is intended
to prevent either Party from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such
arbitration.

 

    	 	25	 

    	 

    

 

(c)
Amendments. This Release may be amended, superseded, canceled, renewed or extended, and the terms hereof may be waived,
only by a written instrument signed by Executive and the Company or, in the case of a waiver, by the Party waiving compliance.

 

(d)
Waivers.

 

(i)
Except as otherwise provided herein, no action taken pursuant to this Release, including any investigation by or on behalf of
any Party, shall be deemed to constitute a waiver by the Party taking such action of compliance with any representations, warranties,
covenants or agreements contained in this Release. Any term, covenant, agreement, obligation, undertaking, condition, representation
or warranty under this Release may be waived at any time by the Party which is entitled to the benefit thereof, but only by a
written notice signed by such Party expressly waiving such term, covenant, agreement, obligation, undertaking, condition, representation
or warranty.

 

(ii)
The failure of any Party to insist, in any one or more instances, upon performance of the terms or conditions of this Release
shall not be construed as a waiver or relinquishment of any right granted hereunder or of the future performance of any such term,
covenant or condition. No waiver on the part of any Party of any right, power or privilege, nor any single or partial exercise
of any such right, power or privilege, shall preclude any further exercise thereof or the exercise of any other such right, power
or privilege.

 

(e)
Severability. Any provision of this Release which is invalid or unenforceable in any jurisdiction will, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this Release,
and any such prohibition or unenforceability in any jurisdiction will not invalidate or render unenforceable such provision in
any other jurisdiction. To the extent permitted by law, the Parties waive any provision of law which renders any such provision
prohibited or unenforceable in any respect.

 

(f)
Counterparts. This Release may be executed in counterparts, each of which shall be deemed an original, and it will not
be necessary in making proof of this Release or the terms of this Release to produce or account for more than one of such counterparts.
All counterparts shall constitute one and the same instrument. Each Party may execute this Release via a facsimile (or transmission
of a PDF file) of a counterpart of this Release. In addition, facsimile or PDF signatures of authorized signatories of any Party
shall be valid and binding and delivery of a facsimile or PDF signature by any Party shall constitute due execution and delivery
of this Release.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	26	 

    	 

    

 

IN
WITNESS WHEREOF, each of the Company and Executive has executed this Release as of the respective date set forth below.

 

	 	PROPANC BIOPHARMA, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	JULIAN KENYON 
	 	 	                  
	 	 
	 	(signature)

 

[Propanc
Biopharma, Inc./Kenyon Services Agreement – Exhibit B Signature Page]

 

    	 	27Exhibit
10.3

 

PROPANC
BIOPHARMA, INC.

 

2019
EQUITY INCENTIVE PLAN

 

1.
Purposes of the Plan. The purposes of this Plan are:

 

	 	●	to
    attract and retain the best available personnel for positions of substantial responsibility,
	 	 	 
	 	●	to
    provide incentives to individuals who perform services for the Company, and
	 	 	 
	 	●	to
    promote the success of the Company’s business.

 

The
Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted
Stock Units, Performance Units, Performance Shares and other stock or cash awards as the Administrator may determine.

 

2.
Definitions. As used herein, the following definitions will apply:

 

(a)
“Administrator” means the Board or any of its Committees as will be administering the Plan, in accordance with
Section 4 hereof.

 

(b)
“Affiliate” means any corporation or any other entity (including, but not limited to, partnerships and joint
ventures) controlling, controlled by, or under common control with the Company.

 

(c)
“Applicable Laws” means the requirements relating to the administration of equity-based awards under U.S. federal
and state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the
Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be,
granted under the Plans.

 

(d)
“Award” means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights,
Restricted Stock, Restricted Stock Units, Performance Units, Performance Shares and other stock or cash awards as the Administrator
may determine.

 

(e)
“Award Agreement” means the written agreement setting forth the terms and provisions applicable to each Award
granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.

 

(f)
“Board” means the Board of Directors of the Company.

 

(g)
“Change in Control” means the occurrence of any of the following events after the Effective Date:

 

	 	(i)	A
    change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group
    (“Person”), acquires ownership of stock in the Company that, together with the stock already held by such
    Person, constitutes more than 50% of the total voting power of the stock of the Company; provided, however, that for purposes
    of this subsection (i), the acquisition of additional stock by any Person who is considered to own more than 50% of the total
    voting power of the stock of the Company before the acquisition will not be considered a Change in Control; or
	 	 	 
	 	(ii)	The
    individuals who constitute the members of the Board cease, by reason of a financing, merger, combination, acquisition, takeover
    or other non-ordinary course transaction affecting the Company, to constitute at least fifty-one percent (51%) of the members
    of the Board; or
	 	 	 
	 	(iii)	The
    consummation of any of the following events: (A) a change in the ownership of a substantial portion of the Company’s
    assets, which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the
    date of the most recent acquisition by such Person) assets from the Company that have a total gross fair market value equal
    to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition
    or acquisitions, or (B) a merger, consolidation or reorganization involving the Company, where either or both of the events
    described in clauses (i) or (ii) above would be the result. For purposes of this subsection (iii), the following will not
    constitute a change in the ownership of a substantial portion of the Company’s assets or a Change in Control: (A) a
    transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer
    of assets by the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with
    respect to the Company’s stock, (2) an entity, 50% or more of the total value or voting power of which is owned, directly
    or indirectly, by the Company, (3) a Person that owns, directly or indirectly, 50% or more of the total value or voting power
    of all the outstanding stock of the Company, or (4) an entity, at least 50% of the total equity or voting power of which is
    owned, directly or indirectly, by a Person described in subsection (iii)(B)(3) above. For purposes of this subsection (iii),
    gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined
    without regard to any liabilities associated with such assets.

 

    	 

    	 

    

 

For
purposes of this Section 2(g), persons will be considered to be acting as a group if they are owners of a corporation or other
entity that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

 

(h)
“Code” means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will
be a reference to any successor or amended section of the Code.

 

(i)
“Committee” means a committee of Directors or of other individuals satisfying Applicable Laws appointed by
the Board in accordance with Section 4 hereof.

 

(j)
“Common Stock” means the common stock, par value $0.001 per share, of the Company.

 

(k)
“Company” means Propanc Biopharma, Inc., a Delaware corporation, or any successor thereto.

 

(l)
“Consultant” means any person, including an advisor, other than an Employee engaged by the Company or a Parent,
Subsidiary or Affiliate to render services to such entity.

 

(m)
“Determination Date” means the latest possible date that will not jeopardize the qualification of an Award
granted under the Plan as “performance-based compensation” under Section 162(m) of the Code.

 

(n)
“Director” means a member of the Board.

 

(o)
“Disability” means permanent and total disability as defined in Section 22(e)(3) of the Code, provided that
in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent
and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time
to time.

 

(p)
“Effective Date” shall have the meaning set forth in Section 18 hereof.

 

(q)
“Employee” means any person, including Officers and Directors, other than a Consultant employed by the Company
or any Parent, Subsidiary or Affiliate of the Company. Neither service as a Director nor payment of a director’s fee by
the Company will be sufficient to constitute “employment” by the Company.

 

(r)
“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

(s)
“Exchange Program” means a program under which (i) outstanding Awards are surrendered or cancelled in exchange
for Awards of the same type (which may have lower exercise prices and different terms), Awards of a different type, and/or cash,
and/or (ii) the exercise price of an outstanding Award is reduced. The Administrator will determine the terms and conditions of
any Exchange Program in its sole discretion.

 

(t)
“Fair Market Value” means, as of any date, the value of the Common Stock as the Administrator may determine
in good faith, by reference to the closing price of such stock on any established stock exchange or on a national market system
on the day of determination, if the Common Stock is so listed on any established stock exchange or on a national market system.
If the Common Stock is not listed on any established stock exchange or on a national market system, the value of the Common Stock
will be determined as the Administrator may determine in good faith using (i) a valuation methodology set forth in Treasury Regulation
1.409A-1(b)(5)(iv)(B) or (ii) with respect to valuations applicable to Awards that are not subject to Code Section 409A, such
other valuation methods as the Administrator may select.

 

(u)
“Fiscal Year” means the fiscal year of the Company.

 

(v)
“Incentive Stock Option” means an Option that by its terms qualifies and is otherwise intended to qualify as
an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder.

 

(w)
“Nonstatutory Stock Option” means an Option that by its terms does not qualify or expressly provides that it
is not intended to qualify as an Incentive Stock Option.

 

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

 

(y)
“Option” means a stock option granted pursuant to Section 6 hereof.

 

    	2

    	 

    

 

(z)
“Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section
424(e) of the Code.

 

(aa)
“Participant” means the holder of an outstanding Award.

 

(bb)
“Performance Goals” will have the meaning set forth in Section 11 hereof.

 

(cc)
“Performance Period” means any Fiscal Year of the Company or such other period as determined by the Administrator
in its sole discretion.

 

(dd)
“Performance Share” means an Award denominated in Shares which may be earned in whole or in part upon attainment
of Performance Goals or other vesting criteria as the Administrator may determine pursuant to Section 10 hereof.

 

(ee)
“Performance Unit” means an Award which may be earned in whole or in part upon attainment of Performance Goals
or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or
a combination of the foregoing pursuant to Section 10 hereof.

 

(ff)
“Period of Restriction” means the period during which transfers of Shares of Restricted Stock are subject to
restrictions and, therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the
passage of time, the achievement of target levels of performance, or the occurrence of other events specified in the applicable
Award, as interpreted and construed by the Administrator.

 

(gg)
“Plan” means this 2019 Equity Incentive Plan.

 

(hh)
“Restricted Stock” means Shares issued pursuant to an Award of Restricted Stock under Section 8 hereof, or
issued pursuant to the early exercise of an Option.

 

(ii)
“Restricted Stock Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value of
one Share, granted pursuant to Section 9 hereof. Each Restricted Stock Unit represents an unfunded and unsecured obligation of
the Company.

 

(jj)
“Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion
is being exercised with respect to the Plan.

 

(kk)
“Section 16(b)” means Section 16(b) of the Exchange Act.

 

(ll)
“Service Provider” means an Employee, Director or Consultant.

 

(mm)
“Share” means a share of Common Stock, as adjusted in accordance with Section 14 hereof.

 

(nn)
“Stock Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to
Section 7 is designated as a Stock Appreciation Right.

 

(oo)
“Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Code.

 

    	3

    	 

    

 

3.
Stock Subject to the Plan.

 

(a)
Maximum Aggregate Number of Shares. Subject to the provisions of Section 14 hereof, the maximum aggregate number of Shares
that may be awarded and sold under the Plan is One Hundred and Seventeen Million (117,000,000) Shares. The Shares may be authorized,
but unissued, or reacquired Common Stock.

 

(b)
Lapsed Awards. If an Award expires or becomes unexercisable without having been exercised in full, or, with respect to
Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units, is forfeited to or repurchased by the Company,
the unpurchased Shares (or for Awards other than Options and Stock Appreciation Rights, the forfeited or repurchased Shares) which
were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). Upon exercise
of a Stock Appreciation Right settled in Shares, the gross number of Shares covered by the portion of the Award so settled will
cease to be available under the Plan. Shares that have actually been issued under the Plan under any Award will not be returned
to the Plan and will not become available for future distribution under the Plan; provided, however, that if unvested Shares of
Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units are repurchased by the Company or are forfeited
to the Company, such Shares will become available for future grant under the Plan. Shares subject to an Award that are transferred
to or retained by the Company to pay the tax and/or exercise price of an Award will become available for future grant or sale
under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result
in reducing the number of Shares available for issuance under the Plan and, for the elimination of doubt, the number of Shares
of equal value to such cash payment shall become available for future grant or sale under the Plan. Notwithstanding the foregoing
provisions of this Section 3(b), subject to adjustment provided in Section 14 hereof, the maximum number of Shares that may be
issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3(a) above, plus,
to the extent allowable under Section 422 of the Code, any Shares that become available for issuance under the Plan under this
Section 3(b).

 

(c)
Share Reserve. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares
as will be sufficient to satisfy the requirements of the Plan.

 

4.
Administration of the Plan.

 

(a)
Procedure.

 

	 	(i)	Multiple
    Administrative Bodies. Different Committees may be established with respect to different groups of Service Providers;
    in that event, the Committee established with respect to a group of Service Providers shall administer the Plan with respect
    to Awards granted to members of such group.
	 	 	 
	 	(ii)	Section
    162(m). To the extent that the Administrator determines it to be desirable to qualify Awards granted hereunder as “performance-based
    compensation” within the meaning of Section 162(m) of the Code, and if the Company is then a “publicly held corporation”
    as defined therein, the Plan will be administered by a Committee of two (2) or more “outside directors” within
    the meaning of Section 162(m) of the Code.
	 	 	 
	 	(iii)	Rule
    16b-3. To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated
    hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3.
	 	 	 
	 	(iv)	Other
    Administration. Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee, which
    committee will be constituted to satisfy Applicable Laws.

 

(b)
Powers of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific
duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion:

 

	 	(i)	to
    determine Fair Market Value;
	 	 	 
	 	(ii)	to
    select the Service Providers to whom Awards may be granted hereunder;
	 	 	 
	 	(iii)	to
    determine the terms and condition, not inconsistent with the terms of the Plan, of any Award granted hereunder;
	 	 	 
	 	(iv)	to
    institute an Exchange Program and to determine the terms and conditions, not inconsistent with the terms of the Plan, for
    (1) the surrender or cancellation of outstanding Awards in exchange for Awards of the same type, Awards of a different type,
    and/or cash, or (2) the reduction of the exercise price of outstanding Awards;
	 	 	 
	 	(v)	to
    construe and interpret the terms of the Plan and Awards granted pursuant to the Plan;
	 	 	 
	 	(vi)	to
    prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
    established for the purpose of satisfying applicable foreign laws;
	 	 	 
	 	(vii)	to
    modify or amend each Award (subject to Section 19(c) hereof);
	 	 	 
	 	(viii)	to
    authorize any person to execute on behalf of the Company any instrument required to reflect or implement the grant of an Award
    previously granted by the Administrator;
	 	 	 
	 	(ix)	to
    allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that would otherwise be due to such
    Participant under an Award pursuant to such procedures as the Administrator may determine consistent with the requirements
    for compliance with or exemption from the provisions of Code Section 409A; and
	 	 	 
	 	(x)	to
    make all other determinations deemed necessary or advisable for administering the Plan.

 

(c)
Effect of Administrator’s Decision. The Administrator’s decisions, determinations, and interpretations will
be final and binding on all Participants and any other holders of Awards.

 

    	4

    	 

    

 

5.
Eligibility.

 

(a)
General Rule. Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance
Units, Performance Shares, and such other cash or stock awards as the Administrator determines may be granted to Service Providers.
Incentive Stock Options may be granted only to Employees.

 

6.
Stock Options.

 

(a)
Limitations.

 

	 	(i)	Each
    Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However,
    notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive
    Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company
    and any Parent or Subsidiary) exceeds $100,000 (U.S.), such Options will be treated as Nonstatutory Stock Options. For purposes
    of this Section 6(a), Incentive Stock Options will be taken into account in the order in which they were granted. The Fair
    Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted.
	 	 	 
	 	(ii)	Subject
    to the limits set forth in Section 3, the Administrator will have complete discretion to determine the number of Shares subject
    to an Option granted to any Participant.

 

(b)
Term of Option. The Administrator will determine the term of each Option in its sole discretion; provided, however, that
the term will be no more than ten (10) years from the date of grant thereof in the case of Incentive Stock Options Moreover, in
the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock
representing more than 10% of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary,
the term of the Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in
the Award Agreement.

 

(c)
Option Exercise Price and Consideration.

 

	 	(i)	Exercise
    Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by
    the Administrator, but will be no less than 100% of the Fair Market Value per Share on the date of grant. In addition, in
    the case of an Incentive Stock Option granted to an Employee who, at the time the Incentive Stock Option is granted, owns
    stock representing more than 10% of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the
    per Share exercise price will be no less than 110% of the Fair Market Value per Share on the date of grant. Notwithstanding
    the foregoing provisions of this Section 6(c), Options may be granted with a per Share exercise price of less than 100% of
    the Fair Market Value per Share on the date of grant pursuant to the issuance or assumption of an Option in a transaction
    to which Section 424(a) of the Code applies in a manner consistent with said Section 424(a). In no event may any Option granted
    under the Plan be amended, other than pursuant to Section 14, to decrease the exercise price thereof, be cancelled in conjunction
    with the grant of any Option with a lower exercise price, be cancelled for cash or other Award or otherwise be subject to
    any action that would be treated, for accounting purposes, as a “repricing” of such Option, unless such amendment,
    cancellation, or action is approved by the Company’s stockholders.
	 	 	 
	 	(ii)	Waiting
    Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option
    may be exercised and will determine any conditions that must be satisfied before the Option may be exercised.
	 	 	 
	 	(iii)	Form
    of Consideration. The Administrator will determine the acceptable form(s) of consideration for exercising an Option, including
    the method of payment, to the extent permitted by Applicable Laws.

 

(d)
Exercise of Option.

 

	 	(i)	Procedure
    for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the
    Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement.
    An Option may not be exercised for a fraction of a Share.
	 	 	 
	 	 	An
    Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator specifies
    from time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which
    the Option is exercised (together with any applicable withholding taxes). No adjustment will be made for a dividend or other
    right for which the record date is prior to the date the Shares are issued, except as provided in Section 14 hereof.

 

    	5

    	 

    

 

	 	(ii)	Termination
    of Relationship as a Service Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s
    termination as the result of the Participant’s death or Disability, the Participant may exercise his or her Option within
    such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination
    (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence
    of a specified time in the Award Agreement, the Option will remain exercisable for three (3) months following the Participant’s
    termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as
    to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination
    the Participant does not exercise his or her Option within the time specified by Award Agreement or by operation of this Section
    6(d)(3), the Option will terminate, and the Shares covered by such Option will revert to the Plan.
	 	 	 
	 	(iii)	Disability
    of Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the
    Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent
    the Option is vested on the date of cessation (but in no event later than the expiration of the term of such Option as set
    forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable
    for six (6) months following the date the Participant ceases to be a Service Provider. Unless otherwise provided by the Administrator,
    if on the date of cessation the Participant is not vested as to his or her entire Option, the Shares covered by the unvested
    portion of the Option will revert to the Plan. If after cessation the Participant does not exercise his or her Option within
    the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.
	 	 	 
	 	(iv)	Death
    of Participant. If a Participant dies while a Service Provider, the Option may be exercised within such period of time
    as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the
    option be exercised later than the expiration of the term of such Option as set forth in the Award Agreement), by the Participant’s
    beneficiary, provided such beneficiary has been designated prior to Participant’s death in a form acceptable to the
    Administrator. If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal
    representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s
    will or in accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement,
    the Option will remain exercisable for six (6) months following Participant’s death. Unless otherwise provided by the
    Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the
    unvested portion of the Option will continue to vest in accordance with the Award Agreement. If the Option is not so exercised
    within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

 

7.
Stock Appreciation Rights.

 

(a)
Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be
granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion.

 

(b)
Number of Shares. The Administrator will have complete discretion to determine the number of Stock Appreciation Rights
granted to any Participant.

 

(c)
Exercise Price and Other Terms. The Administrator, subject to the provisions of the Plan, will have complete discretion
to determine the terms and conditions of Stock Appreciation Rights granted under the Plan; provided, however, that the exercise
price will be not less than 100% of the Fair Market Value of a Share on the date of grant. Exercise Price. In no event may any
Stock Appreciation Right granted under the Plan be amended, other than pursuant to Section 14, to decrease the exercise price
thereof, be cancelled in conjunction with the grant of any Stock Appreciation Right with a lower exercise price, be cancelled
for cash or other Award or otherwise be subject to any action that would be treated, for accounting purposes, as a “repricing”
of such Stock Appreciation Right, unless such amendment, cancellation, or action is approved by the Company’s stockholders.

 

(d)
Stock Appreciation Rights Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will
specify the exercise price, the number of Shares with respect to which the Award is granted, the term of the Stock Appreciation
Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine.

 

(e)
Expiration of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon the date determined
by the Administrator, in its sole discretion, and set forth in the Award Agreement; provided, however, that the term will be no
more than ten (10) years from the date of grant thereof. Notwithstanding the foregoing, the rules of Section 6(d) above also will
apply to Stock Appreciation Rights.

 

(f)
Payment of Stock Appreciation Right Amount. Upon exercise of a Stock Appreciation Right, a Participant will be entitled
to receive payment from the Company in an amount determined by multiplying:

 

    	6

    	 

    

 

	 	(i)	The
                                         difference between the Fair Market Value of a Share on the date of exercise over the
                                         “stock appreciation right exercise price,” as defined under Treasury Regulation
                                         Section 1.409A-1(b)(i)(B)(2), i.e., the Fair Market Value of a Share on the date
                                         of grant of the Stock Appreciation Right; times

         

	 	(ii)	The
    number of Shares with respect to which the Stock Appreciation Right is exercised.

 

At
the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent
value, or in some combination thereof.

 

8.
Restricted Stock.

 

(a)
Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time
to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion,
will determine.

 

(b)
Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the
Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion,
will determine.

 

(c)
Transferability. Except as provided in this Section 8, Shares of Restricted Stock may not be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated until such Shares become non-forfeitable at the end of the applicable Period
of Restriction.

 

(d)
Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted
Stock as it may deem advisable or appropriate.

 

(e)
Removal of Restrictions. Except as otherwise provided in this Section 8, Shares of Restricted Stock covered by each Restricted
Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction.
The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed.

 

(f)
Voting Rights. During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder
may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise in a manner not prohibited
by the Award Agreement.

 

(g)
Dividends and Other Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock
will be entitled to receive all dividends and other distributions paid with respect to such Shares unless otherwise provided in
the Award Agreement. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions
on transferability and provisions for forfeiture as the Shares of Restricted Stock with respect to which they were paid.

 

(h)
Return of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions
have not lapsed will revert to the Company and again will become available for grant under the Plan.

 

(i)
Section 162(m) Performance Restrictions. For purposes of qualifying grants of Restricted Stock as “performance-based
compensation” under Section 162(m) of the Code, the Administrator, in its discretion, may condition the lapse of restrictions
based upon the achievement of Performance Goals. The Performance Goals will be set by the Administrator on or before the Determination
Date. In granting Restricted Stock which is intended to qualify under Section 162(m) of the Code, the Administrator will follow
any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Award under Section
162(m) of the Code (e.g., in determining the Performance Goals).

 

9.
Restricted Stock Units.

 

(a)
Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. Each
Restricted Stock Unit grant will be evidenced by an Award Agreement that will specify such other terms and conditions as the Administrator,
in its sole discretion, will determine in accordance with the terms and conditions of the Plan, including all terms, conditions,
and restrictions related to the grant, the number of Restricted Stock Units and the form of payout, which, subject to Section
9(d) hereof, may be left to the discretion of the Administrator.

 

(b)
Vesting Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the
extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant.
After the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any restrictions for
such Restricted Stock Units. Each Award of Restricted Stock Units will be evidenced by an Award Agreement that will specify the
vesting criteria, and such other terms and conditions as the Administrator, in its sole discretion will determine. The Administrator,
in its discretion, may accelerate the time at which any restrictions will lapse or be removed, subject to the prohibition on acceleration
of the timing of distribution of deferred compensation subject to Section 409A of the Code, to the extent applicable to the Award.

 

    	7

    	 

    

 

(c)
Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive
a payout as specified in the Award Agreement.

 

(d)
Form and Timing of Payment. Payment of earned Restricted Stock Units will be made as soon as practicable after the date(s)
set forth in the Award Agreement, which shall satisfy the requirements of Section 409A of the Code, to the extent applicable to
such Award. The Administrator, in its sole discretion, may pay earned Restricted Stock Units in cash, Shares, or a combination
thereof. Shares represented by Restricted Stock Units that are fully paid in cash again will be available for grant under the
Plan.

 

(e)
Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the
Company.

 

(f)
Section 162(m) Performance Restrictions. For purposes of qualifying grants of Restricted Stock Units as “performance-based
compensation” under Section 162(m) of the Code, the Administrator, in its discretion, may set restrictions based upon the
achievement of Performance Goals. The Performance Goals will be set by the Administrator on or before the Determination Date.
In granting Restricted Stock Units which are intended to qualify under Section 162(m) of the Code, the Administrator will follow
any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Award under Section
162(m) of the Code (e.g., in determining the Performance Goals).

 

10.
Performance Units and Performance Shares.

 

(a)
Grant of Performance Units/Shares. Performance Units and Performance Shares may be granted to Service Providers at any
time and from time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete
discretion in determining the number of Performance Units/Shares granted to each Participant.

 

(b)
Value of Performance Units/Shares. Each Performance Unit will have an initial value that is established by the Administrator
on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on
the date of grant.

 

(c)
Performance Objectives and Other Terms. The Administrator will set performance objectives or other vesting provisions.
The Administrator may set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals (including,
but not limited to, continued employment), or any other basis determined by the Administrator in its discretion. Each Award of
Performance Units/Shares will be evidenced by an Award Agreement that will specify the Performance Period, and such other terms
and conditions as the Administrator, in its sole discretion, will determine.

 

(d)
Earning of Performance Units/Shares. After the applicable Performance Period has ended, the holder of Performance Units/Shares
will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance
Period, to be determined as a function of the extent to which the corresponding performance objectives or other vesting provisions
have been achieved. After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive
any performance objectives or other vesting provisions for such Performance Unit/Share.

 

(e)
Form and Timing of Payment of Performance Units/Shares. Payment of earned Performance Units/Shares will be made as soon
as practicable after the expiration of the applicable Performance Period or, if earlier, after the date on which a Participant’s
interest in such Performance Units/Shares is no longer subject to a substantial risk of forfeiture, provided however, that in
no event shall such payment be made after the later to occur of (i) December 31 of the year in which such risk of forfeiture lapses
or (ii) two and one-half months after such risk of forfeiture lapses. The Administrator, in its sole discretion, may pay earned
Performance Units/Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned
Performance Units/Shares at the close of the applicable Performance Period) or in a combination thereof.

 

(f)
Cancellation of Performance Units/Shares. On the date set forth in the Award Agreement, all unearned or unvested Performance
Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan.

 

(g)
Section 162(m) Performance Restrictions. For purposes of qualifying grants of Performance Units/Shares as “performance-based
compensation” under Section 162(m) of the Code, the Administrator, in its discretion, may set restrictions based upon the
achievement of Performance Goals. The Performance Goals will be set by the Administrator on or before the Determination Date.
In granting Performance Units/Shares which are intended to qualify under Section 162(m) of the Code, the Administrator will follow
any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Award under Section
162(m) of the Code (e.g., in determining the Performance Goals).

 

    	8

    	 

    

 

11.
Performance-Based Compensation Under Code Section 162(m).

 

(a)
General. If the Administrator, in its discretion, decides to grant an Award intended to qualify as “performance-based
compensation” under Code Section 162(m), the provisions of this Section 11 will control over any contrary provision in the
Plan; provided, however, that the Administrator may in its discretion grant Awards that are not intended to qualify as “performance-based
compensation” under Section 162(m) of the Code to such Participants that are based on Performance Goals or other specific
criteria or goals but that do not satisfy the requirements of this Section 11.

 

(b)
Performance Goals. The granting and/or vesting of Awards of Restricted Stock, Restricted Stock Units, Performance Shares
and Performance Units and other incentives under the Plan may be made subject to the attainment of performance goals relating
to one or more business criteria within the meaning of Code Section 162(m) and may provide for a targeted level or levels of achievement
(“Performance Goals”) including (i) earnings per Share, (ii) operating cash flow, (iii) operating income, (iv)
profit after-tax, (v) profit before-tax, (vi) return on assets, (vii) return on equity, (viii) return on sales, (ix) revenue,
and (x) total shareholder return. Any Performance Goals may be used to measure the performance of the Company as a whole or a
business unit of the Company and may be measured relative to a peer group or index. The Performance Goals may differ from Participant
to Participant and from Award to Award. Prior to the Determination Date, the Administrator will determine whether any significant
element(s) will be included in or excluded from the calculation of any Performance Goal with respect to any Participant.

 

(c)
Procedures. To the extent necessary to comply with the performance-based compensation provisions of Code Section 162(m),
with respect to any Award granted subject to Performance Goals, within the first twenty-five percent (25%) of the Performance
Period, but in no event more than ninety (90) days following the commencement of any Performance Period (or such other time as
may be required or permitted by Code Section 162(m)), the Administrator will, in writing, (i) designate one or more Participants
to whom an Award will be made, (ii) select the Performance Goals applicable to the Performance Period, (iii) establish the amounts
of such Awards, as applicable, which may be earned for such Performance Period, and (iv) specify the relationship between Performance
Goals and the amounts of such Awards, as applicable, to be earned by each Participant for such Performance Period. Following the
completion of each Performance Period but in no event later than December 31 of the year in which such Performance Period ends
or, if later, the date that is two and one-half months after the end of such Performance Period, the Administrator will certify
in writing whether the applicable Performance Goals have been achieved for such Performance Period and pay any amount to which
a Participant is entitled under an Award with respect to such Performance Period. In determining the amounts earned by a Participant,
the Administrator will have the right to reduce or eliminate (but not to increase) the amount payable at a given level of performance
to take into account additional factors that the Administrator may deem relevant to the assessment of individual or corporate
performance for the Performance Period. A Participant will be eligible to receive payment pursuant to an Award for a Performance
Period only if the Performance Goals for such period are achieved.

 

(d)
Additional Limitations. Notwithstanding any other provision of the Plan, any Award which is granted to a Participant and
is intended to constitute qualified performance based compensation under Code Section 162(m) will be subject to any additional
limitations set forth in the Code (including any amendment to Section 162(m)) or any regulations and ruling issued thereunder
that are requirements for qualification as qualified performance-based compensation as described in Section 162(m) of the Code,
and the Plan will be deemed amended to the extent necessary to conform to such requirements.

 

12.
Leaves of Absence. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during
any unpaid leave of absence. A Service Provider will not cease to be an Employee in the case of (i) any leave of absence approved
by the Company, or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For
purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave
is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so
guaranteed, then six (6) months and one day following the commencement of such leave any Incentive Stock Option held by the Participant
will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option.

 

13.
Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned,
hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be
exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable,
such Award may only be transferred (i) by will, (ii) by the laws of descent and distribution, (iii) to a revocable trust, or (iv)
as permitted by Rule 701 of the Securities Act of 1933, as amended.

 

14.
Adjustments; Dissolution or Liquidation; Merger or Change in Control.

 

(a)
Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities,
or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off,
combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure
of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or
potential benefits intended to be made available under the Plan, will adjust the number and class of Shares that may be delivered
under the Plan and/or the number, class, and price of Shares covered by each outstanding Award, and the numerical Share limits
set forth in Sections 3, 6, 7, 8, 9 and 10 hereof.

 

    	9

    	 

    

 

(b)
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will
notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has
not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action.

 

(c)
Change in Control. In the event of a merger or Change in Control, each outstanding Award will be treated as the Administrator
determines, including, without limitation, that each Award will be assumed or an equivalent option or right substituted by the
successor corporation or a Parent or Subsidiary of the successor corporation (the “Successor Corporation”).
The Administrator will not be required to treat all Awards similarly in the transaction.

 

In
the event that the Successor Corporation does not assume or substitute for the Award, the Participant will fully vest in and have
the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards
would not otherwise be vested or exercisable, all restrictions on Restricted Stock will lapse, and, with respect to Restricted
Stock Units, Performance Shares and Performance Units, all Performance Goals or other vesting criteria will be deemed achieved
at target levels and all other terms and conditions met. In addition, if an Option or Stock Appreciation Right is not assumed
or substituted for in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically
that the Option or Stock Appreciation Right will be fully vested and exercisable for a period of time determined by the Administrator
in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period.

 

For
the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers
the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration
(whether stock, cash, or other securities or property) or, in the case of a Stock Appreciation Right upon the exercise of which
the Administrator determines to settle in cash or a Performance Share or Performance Unit which the Administrator can determine
to settle in cash, the fair market value of the consideration received in the merger or Change in Control by holders of Common
Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the
type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration
received in the Change in Control is not solely common stock of the Successor Corporation, the Administrator may, with the consent
of the Successor Corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation
Right or upon the payout of a Performance Share or Performance Unit, for each Share subject to such Award (or in the case of Performance
Units, the number of implied shares determined by dividing the value of the Performance Units by the per share consideration received
by holders of Common Stock in the Change in Control), to be solely common stock of the Successor Corporation equal in fair market
value to the per share consideration received by holders of Common Stock in the Change in Control.

 

Notwithstanding
anything in this Section 14(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more
Performance Goals will not be considered assumed if the Company or its successor modifies any of such Performance Goals without
the Participant’s consent; provided, however, a modification to such Performance Goals only to reflect the Successor Corporation’s
post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

 

15.
Tax Withholding

 

(a)
Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof), the Company
will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient
to satisfy federal, state, local, foreign or other taxes (including the Participant’s FICA obligation) required to be withheld
with respect to such Award (or exercise thereof).

 

(b)
Withholding Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from
time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation)
(i) paying cash, (ii) electing to have the Company withhold otherwise deliverable cash or Shares having a Fair Market Value equal
to the minimum amount required to be withheld, (iii) delivering to the Company already-owned Shares having a Fair Market Value
equal to the amount required to be withheld, or (iv) selling a sufficient number of Shares otherwise deliverable to the Participant
through such means as the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to
the amount required to be withheld. The amount of the withholding requirement will be deemed to include any amount which the Administrator
agrees may be withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state
or local marginal income tax rates applicable to the Participant with respect to the Award on the date that the amount of tax
to be withheld is to be determined. The Fair Market Value of the Shares to be withheld or delivered will be determined as of the
date that the taxes are required to be withheld.

 

    	10

    	 

    

 

16.
No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect
to continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way
with the Participant’s right or the Company’s right to terminate such relationship at any time, with or without cause,
to the extent permitted by Applicable Laws.

 

17.
Date of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination
granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided
to each Participant within a reasonable time after the date of such grant.

 

18.
Term of Plan. Subject to Section 22 hereof, the Plan will become effective upon its adoption by the Board (the “Effective
Date”). It will continue in effect for a term of ten (10) years unless terminated earlier under Section 19 hereof; provided,
however, that such expiration shall not affect Awards then outstanding, and the terms and conditions of this Plan shall continue
to apply to such Awards.

 

19.
Amendment and Termination of the Plan.

 

(a)
Amendment and Termination. The Administrator may at any time amend, alter, suspend or terminate the Plan.

 

(b)
Stockholder Approval. The Company will obtain stockholder approval of the Plan and any Plan amendment to the extent necessary
or desirable to comply with Applicable Laws.

 

(c)
Effect of Amendment or Termination. No amendment, alteration, suspension, or termination of the Plan will impair the rights
of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in
writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator’s ability
to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.

 

20.
Conditions Upon Issuance of Shares.

 

(a)
Legal Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such Award and
the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel
for the Company with respect to such compliance.

 

(b)
Investment Representations. As a condition to the exercise of an Award, the Company may require the person exercising such
Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without
any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is
required.

 

(c)
Restrictive Legends. All Award Agreements and all securities of the Company issued pursuant thereto shall bear such legends
regarding restrictions on transfer and such other legends as the appropriate officer of the Company shall determine to be necessary
or advisable to comply with applicable securities and other laws.

 

21.
Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction,
which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder,
will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority
will not have been obtained.

 

22.
Stockholder Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months
after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required
under Applicable Laws, including without limitation Section 422 of the Code. In the event that stockholder approval is not obtained
within twelve (12) months after the date the Plan is adopted by the Board, all Incentive Stock Options granted hereunder shall
be void ab initio and of no effect. Notwithstanding any other provisions of the Plan, no Awards shall be exercisable until
the date of such stockholder approval.

 

23.
Notification of Election Under Section 83(b) of the Code. If any Service Provider shall, in connection with the acquisition
of Shares under the Plan, make the election permitted under Section 83(b) of the Code, such Service Provider shall notify the
Company of such election within ten (10) days of filing notice of the election with the Internal Revenue Service and provide the
Company with a copy thereof, in addition to any filing and a notification required pursuant to regulations issued under the authority
of Section 83(b) of the Code. A Service Provider shall not be permitted to make a Section 83(b) election with respect to an Award
of a Restricted Stock Unit.

 

24.
Notification Upon Disqualifying Disposition Under Section 421(b) of the Code. Each Service Provider shall notify the Company
of any disposition of Shares issued pursuant to the exercise of an Incentive Stock Option under the circumstances described in
Section 421(b) of the Code (relating to certain disqualifying dispositions), within ten (10) days of such disposition.

 

25.
409A Timing Rule for Specified Employees. If at the time of a Service Provider’s separation from service, such individual
is considered a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, and if any payment
that such Service Provider becomes entitled to under the Plan or any Award is deemed payable on account of such individual’s
separation from service, then no such payment shall be made prior to the date that is the earlier of (i) six months and one day
after the individual’s separation from service, or (ii) the individual’s death.

 

26.
Governing Law. The law of the State of Delaware shall govern all questions concerning the construction, validity and interpretation
of this Plan, without regard to such state’s conflict of laws rules, subject to the Company’s intention that the Plan
satisfy the requirements of jurisdictions outside of the United States of America with respect to Awards subject to such jurisdictions.

 

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Approved
by the Board on May 14, 2019.

 

    	11

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