Document:

Exhibit
4.1

 

Description
of Securities Registered Pursuant to

Section
12 of the Securities Exchange Act of 1934, as amended

 

General

 

Our
authorized capital stock consists of 200,000,000 shares of common stock, $0.02 par value per share, 62,086,099 of which were issued and
outstanding as of March 20, 2020.

 

The
following description of our common stock summarizes the material terms and provisions of the common stock that we may offer under this
prospectus but is not complete. For the complete terms of our common stock, please refer to our certificate of incorporation, as amended,
(the “Certificate of Incorporation”) which may be further amended from time to time, and our fifth amended and restated by-laws,
as further amended from time to time (the “By-laws”). The New York Business Corporation Law (“NYBCL”) may also
affect the terms of these securities.

 

Holders
of our common stock: (i) have equal rights to dividends from funds legally available therefore, ratably when as and if declared by the
Company’s board of directors; (ii) are entitled to share ratably in all assets of the Company available for distribution to holders
of common stock upon liquidation, dissolution, or winding up of the affairs of the Company; (iii) do not have preemptive, subscription
or conversion rights and there are no redemption or sinking fund provisions applicable thereto; (iv) are entitled to one non-cumulative
vote per share of common stock, on all matters which stockholders may vote on at all meetings of stockholders; and (v) the holders of
common stock have no conversion, preemptive or other subscription rights. There is no cumulative voting for the election of directors.
Each holder of our common stock is entitled to one vote for each share of our common stock held on all matters submitted to a vote of
stockholders.

 

Anti-Takeover
Effects of Certain Provisions of our Certificate of Incorporation, By-laws and the NYBCL

 

Section
912 of the NYBCL generally provides that a New York corporation may not engage in a business combination with an interested stockholder
for a period of five years following the interested stockholder’s becoming such. Such a business combination would be permitted
where it is approved by the board of directors before the interested stockholder’s becoming such. Covered business combinations
include certain mergers and consolidations, dispositions of assets or stock, plans for liquidation or dissolution, reclassifications
of securities, recapitalizations and similar transactions. An interested stockholder is generally a stockholder owning at least 20% of
a corporation’s outstanding voting stock. In addition, New York corporations may not engage at any time with any interested stockholder
in a business combination other than: (i) a business combination approved by the board of directors before the stock acquisition, or
where the acquisition of the stock had been approved by the board of directors before the stock acquisition; (ii) a business combination
approved by the affirmative vote of the holders of a majority of the outstanding voting stock not beneficially owned by the interested
stockholder at a meeting called for that purpose no earlier than five years after the stock acquisition; or (iii) a business combination
in which the interested stockholder pays a formula price designed to ensure that all other stockholders receive at least the highest
price per share that is paid by the interested stockholder and that meets certain other requirements.

 

A
corporation may opt out of the interested stockholder provisions described in the preceding paragraph by expressly electing not to be
governed by such provisions in its by-laws, which must be approved by the affirmative vote of a majority of votes of the outstanding
voting stock of such corporation and is subject to further conditions. However, our By-laws do not contain any provisions electing not
to be governed by Section 912 NYBCL. Under our By-laws, any corporate action to be taken by vote of the shareholders, shall be authorized
by a majority of votes cast at a meeting of shareholders by the holders of shares entitled to vote thereon.

 

Transfer
Agent and Registrar

 

The
Transfer Agent and Registrar for our common stock is American Stock Transfer and Trust Company, LLC, 6201 15th Ave., Brooklyn, NY 11219,
USA, +1-800-937-5449 or +1-718-921-8124.

 

Listing

 

Our
Common Stock is listed on the New York Stock Exchange under the ticker symbols “DSS.”Exhibit 10.18

 

APPENDIX A

 

DOCUMENT SECURITY SYSTEMS, INC.

2020 EMPLOYEE, DIRECTOR AND CONSULTANT EQUITY INCENTIVE
PLAN

 

1. DEFINITIONS.

 

Unless otherwise specified or unless
the context otherwise requires, the following terms, as used in this Document Security Systems, Inc. 2020 Employee, Director and Consultant
Equity Incentive Plan, have the following meanings:

 

Administrator means the Board of Directors,
unless it has delegated power to act on its behalf to the Committee, in which case the Administrator means the Committee.

 

Affiliate means a corporation which, for purposes
of Section 424 of the Code, is a parent or subsidiary of the Company, direct or indirect.

 

Agreement means an agreement between the Company
and a Participant delivered pursuant to the Plan and pertaining to a Stock Right, in such form as the Administrator shall approve.

 

Board of Directors means the Board of Directors
of the Company.

 

Cause means, with respect to a Participant
(a) dishonesty with respect to the Company or any Affiliate, (b) insubordination, substantial malfeasance or non-feasance of duty, (c)
unauthorized disclosure of confidential information, (d) breach by a Participant of any provision of any employment, consulting, advisory,
nondisclosure, non-competition or similar agreement between the Participant and the Company or any Affiliate, and (e) conduct substantially
prejudicial to the business of the Company or any Affiliate; provided, however, that any provision in an agreement between a Participant
and the Company or an Affiliate, which contains a conflicting definition of Cause for termination and which is in effect at the time of
such termination, shall supersede this definition with respect to that Participant. The determination of the Administrator as to the existence
of Cause will be conclusive on the Participant and the Company.

 

Code means the United States Internal Revenue
Code of 1986, as amended including any successor statute, regulation and guidance thereto.

 

Committee means the committee of the Board
of Directors to which the Board of Directors has delegated power to act under or pursuant to the provisions of the Plan.

 

Common Stock means shares of the Company’s
common stock, $0.02 par value per share.

 

Company means Document Security Systems, Inc.,
a New York corporation.

 

Consultant means any natural person who is
an advisor or consultant that provides bona fide services to the Company or its Affiliates, provided that such services are not in connection
with the offer or sale of securities in a capital raising transaction, and do not directly or indirectly promote or maintain a market
for the Company’s or its Affiliates’ securities.

 

Disability or Disabled means permanent
and total disability as defined in Section 22(e)(3) of the Code.

 

Employee means any employee of the Company
or of an Affiliate (including, without limitation, an employee who is also serving as an officer or director of the Company or of an Affiliate),
designated by the Administrator to be eligible to be granted one or more Stock Rights under the Plan.

 

Exchange Act means the Securities Exchange
Act of 1934, as amended.

 

Fair Market Value of a Share of Common Stock
means:

 

(1) If the Common Stock is listed
on a national securities exchange or traded in the over-the-counter market and sales prices are regularly reported for the Common Stock,
the closing or, if not applicable, the last price of the Common Stock on the composite tape or other comparable reporting system for the
trading day on the applicable date and if such applicable date is not a trading day, the last market trading day prior to such date;

 

(2) If the Common Stock is not
traded on a national securities exchange but is traded on the over-the-counter market, if sales prices are not regularly reported for
the Common Stock for the trading day referred to in clause (1), and if bid and asked prices for the Common Stock are regularly reported,
the mean between the bid and the asked price for the Common Stock at the close of trading in the over-the-counter market for the trading
day on which Common Stock was traded on the applicable date and if such applicable date is not a trading day, the last market trading
day prior to such date; and

 

(3) If the Common Stock is neither
listed on a national securities exchange nor traded in the over-the-counter market, such value as the Administrator, in good faith, shall
determine.

 

ISO means an option intended to qualify as
an incentive stock option under Section 422 of the Code.

 

Non-Qualified Option means an option which
is not intended to qualify as an ISO.

 

Option means an ISO or Non-Qualified Option
granted under the Plan.

 

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Participant means an Employee, officer, director,
Consultant or advisor of the Company or an Affiliate to whom one or more Stock Rights are granted under the Plan. As used herein, “Participant”
shall include “Participant’s Survivors” where the context requires.

 

Plan means this Document Security Systems,
Inc. 2019 Employee, Director and Consultant Equity Incentive Plan.

 

Securities Act means the Securities Act of
1933, as amended.

 

Shares means shares of the Common Stock as
to which Stock Rights have been or may be granted under the Plan or any shares of capital stock into which the Shares are changed or for
which they are exchanged within the provisions of Paragraph 3 of the Plan. The Shares issued under the Plan may be authorized and unissued
shares or shares held by the Company in its treasury, or both.

 

Stock-Based Award means a grant by the Company
under the Plan of an equity award or an equity based award which is not an Option or a Stock Grant.

 

Stock Grant means a grant by the Company of
Shares under the Plan.

 

Stock Right means a right to Shares or the
value of Shares of the Company granted pursuant to the Plan — an ISO, a Non-Qualified Option, a Stock Grant or a Stock-Based Award.

 

Survivor means a deceased Participant’s
legal representatives and/or any person or persons who acquired the Participant’s rights to a Stock Right by will or by the laws
of descent and distribution.

 

2. PURPOSES OF THE PLAN.

 

The Plan is intended to encourage
ownership of Shares by Employees and directors of and certain Consultants to the Company and its Affiliates in order to attract and retain
such people, to induce them to work for the benefit of the Company or of an Affiliate and to provide additional incentive for them to
promote the success of the Company or of an Affiliate. The Plan provides for the granting of ISOs, Non-Qualified Options, Stock Grants
and Stock-Based Awards.

 

3. SHARES SUBJECT TO THE PLAN.

 

(a) The number of Shares which
may be issued from time to time pursuant to this Plan shall be twenty percent (20%) of the total issued and outstanding shares of Common
Stock as of December 31, 2019, or the equivalent of such number of Shares after the Administrator, in its sole discretion, has interpreted
the effect of any stock split, stock dividend, combination, recapitalization or similar transaction in accordance with Paragraph 24 of
the Plan.

 

In addition, on the first day of
each calendar year, for a period of not more than ten (10) years, commencing January 1, 2021, or the first business day of the calendar
year if the first day of the calendar year falls on a Saturday or Sunday, the Shares available under this Plan will automatically increase
in an amount equal to the lesser of (i) five percent (5%) of the total number of shares of Common Stock outstanding as of December 31
of the preceding fiscal year or (ii) such number of shares of Common Stock as determined by the Board of Directors.

 

(b) If an Option ceases to be “outstanding”,
in whole or in part (other than by exercise), or if the Company shall reacquire (at not more than its original issuance price) any Shares
issued pursuant to a Stock Grant or Stock-Based Award, or if any Stock Right expires or is forfeited, cancelled, or otherwise terminated
or results in any Shares not being issued, the unissued or reacquired Shares which were subject to such Stock Right shall again be available
for issuance from time to time pursuant to this Plan. Notwithstanding the foregoing, if a Stock Right is exercised, in whole or in part,
by tender of Shares or if the Company’s or an Affiliate’s tax withholding obligation is satisfied by withholding Shares, the
number of Shares deemed to have been issued under the Plan for purposes of the limitation set forth in Paragraph 3(a) above shall be the
number of Shares that were subject to the Stock Right or portion thereof, and not the net number of Shares actually issued. However, in
the case of ISOs, the foregoing provisions shall be subject to any limitations under the Code.

 

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4. ADMINISTRATION OF THE PLAN.

 

The Administrator of the Plan will
be the Board of Directors, except to the extent the Board of Directors delegates its authority to the Committee, in which case the Committee
shall be the Administrator. Subject to the provisions of the Plan, the Administrator is authorized to:

 

(a) Interpret the provisions of
the Plan and all Stock Rights and to make all rules and determinations which it deems necessary or advisable for the administration of
the Plan;

 

(b) Determine which Employees,
directors and Consultants shall be granted Stock Rights;

 

(c) Determine the number of Shares
for which a Stock Right or Stock Rights shall be granted, provided, however, that in no event shall Stock Rights with respect to more
than 20% of the total Shares available under this Plan in any fiscal year be granted to any Participant in such fiscal year;

 

(d) Specify the terms and conditions
upon which a Stock Right or Stock Rights may be granted;

 

(e) Amend any term or condition
of any outstanding Stock Right, including, without limitation, to accelerate the vesting schedule or extend the expiration date, provided
that (i) such term or condition as amended is permitted by the Plan; (ii) any such amendment shall not impair the rights of a Participant
under any Stock Right previously granted without such Participant’s consent or in the event of death of the Participant the Participant’s
Survivors; and (iii) any such amendment shall be made only after the Administrator determines whether such amendment would cause any adverse
tax consequences to the Participant, including, but not limited to, the annual vesting limitation contained in Section 422(d) of the Code
and described in Paragraph 6(b)(iv) below with respect to ISOs and pursuant to Section 409A of the Code; and

 

(f) Adopt any appendices applicable
to residents of any specified jurisdiction as it deems necessary or appropriate in order to comply with or take advantage of any tax or
other laws applicable to the Company, any Affiliate or to Participants or to otherwise facilitate the administration of the Plan, which
appendices may include additional restrictions or conditions applicable to Stock Rights or Shares issuable pursuant to a Stock Right;
provided, however, that all such interpretations, rules, determinations, terms and conditions shall be made and prescribed in the context
of not causing any adverse tax consequences under Section 409A of the Code and preserving the tax status under Section 422 of the Code
of those Options which are designated as ISOs. Subject to the foregoing, the interpretation and construction by the Administrator of any
provisions of the Plan or of any Stock Right granted under it shall be final, unless otherwise determined by the Board of Directors, if
the Administrator is the Committee. In addition, if the Administrator is the Committee, the Board of Directors may take any action under
the Plan that would otherwise be the responsibility of the Committee.

 

To the extent permitted under applicable
law, the Board of Directors or the Committee may allocate all or any portion of its responsibilities and powers to any one or more of
its members and may delegate all or any portion of its responsibilities and powers to any other person selected by it. The Board of Directors
or the Committee may revoke any such allocation or delegation at any time. Notwithstanding the foregoing, only the Board of Directors
or the Committee shall be authorized to grant a Stock Right to any director of the Company or to any “officer” of the Company
as defined by Rule 16a-1 under the Exchange Act.

 

5. ELIGIBILITY FOR PARTICIPATION.

 

The Administrator will, in its
sole discretion, name the Participants in the Plan; provided, however, that each Participant must be an Employee, director or Consultant
of the Company or of an Affiliate at the time a Stock Right is granted. Notwithstanding the foregoing, the Administrator may authorize
the grant of a Stock Right to a person not then an Employee, director or Consultant of the Company or of an Affiliate; provided, however,
that the actual grant of such Stock Right shall be conditioned upon such person becoming eligible to become a Participant at or prior
to the time of the execution of the Agreement evidencing such Stock Right. ISOs may be granted only to Employees who are deemed to be
residents of the United States for tax purposes. Non-Qualified Options, Stock Grants and Stock-Based Awards may be granted to any Employee,
director or Consultant of the Company or an Affiliate. The granting of any Stock Right to any individual shall neither entitle that individual
to, nor disqualify him or her from, participation in any other grant of Stock Rights or any grant under any other benefit plan established
by the Company or any Affiliate for Employees, directors or Consultants.

 

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6. TERMS AND CONDITIONS OF OPTIONS.

 

Each Option shall be set forth
in writing in an Option Agreement, duly executed by the Company and, to the extent required by law or requested by the Company, by the
Participant. The Administrator may provide that Options be granted subject to such terms and conditions, consistent with the terms and
conditions specifically required under this Plan, as the Administrator may deem appropriate including, without limitation, subsequent
approval by the shareholders of the Company of this Plan or any amendments thereto. The Option Agreements shall be subject to at least
the following terms and conditions:

 

(a) Non-Qualified Options:
Each Option intended to be a Non-Qualified Option shall be subject to the terms and conditions which the Administrator determines to be
appropriate and in the best interest of the Company, subject to the following minimum standards for any such Non-Qualified Option:

 

(i) Exercise Price: Each
Option Agreement shall state the exercise price (per share) of the Shares covered by each Option, which exercise price shall be determined
by the Administrator and shall be at least equal to the Fair Market Value per share of Common Stock on the date of grant of the Option
provided, that if the exercise price is less than Fair Market Value, the terms of such Option must comply with the requirements of Section
409A of the Code unless granted to a Consultant to whom Section 409A of the Code does not apply.

 

(ii) Number of Shares: Each
Option Agreement shall state the number of Shares to which it pertains.

 

(iii) Option Periods: Each
Option Agreement shall state the date or dates on which it first is exercisable and the date after which it may no longer be exercised,
and may provide that the Option rights accrue or become exercisable in installments over a period of months or years, or upon the occurrence
of certain conditions or the attainment of stated goals or events.

 

(iv) Option Conditions:
Exercise of any Option may be conditioned upon the Participant’s execution of a Share purchase agreement in form satisfactory to
the Administrator providing for certain protections for the Company and its other shareholders, including requirements that:

 

A. The Participant’s or the
Participant’s Survivors’ right to sell or transfer the Shares may be restricted; and

 

B. The Participant or the Participant’s
Survivors may be required to execute letters of investment intent and must also acknowledge that the Shares will bear legends noting any
applicable restrictions.

 

(v) Term of Option: Each
Option shall terminate not more than ten years from the date of the grant or at such earlier time as the Option Agreement may provide.

 

(b) ISOs: Each Option intended
to be an ISO shall be issued only to an Employee who is deemed to be a resident of the United States for tax purposes, and shall be subject
to the following terms and conditions, with such additional restrictions or changes as the Administrator determines are appropriate but
not in conflict with Section 422 of the Code and relevant regulations and rulings of the Internal Revenue Service:

 

(i) Minimum standards: The
ISO shall meet the minimum standards required of Non-Qualified Options, as described in Paragraph 6(a) above, except clause (i) and (v)
thereunder.

 

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(ii) Exercise Price: Immediately
before the ISO is granted, if the Participant owns, directly or by reason of the applicable attribution rules in Section 424(d) of the
Code:

 

A. 10% or less of the total
combined voting power of all classes of stock of the Company or an Affiliate, the exercise price per share of the Shares covered by each
ISO shall not be less than 100% of the Fair Market Value per share of the Common Stock on the date of grant of the Option; or

 

B. More than 10% of the total combined
voting power of all classes of stock of the Company or an Affiliate, the exercise price per share of the Shares covered by each ISO shall
not be less than 110% of the Fair Market Value per share of the Common Stock on the date of grant of the Option.

 

(iii) Term of Option: For
Participants who own:

 

A. 10% or less of the total
combined voting power of all classes of stock of the Company or an Affiliate, each ISO shall terminate not more than ten years from the
date of the grant or at such earlier time as the Option Agreement may provide; or

 

B. More than 10% of the total combined
voting power of all classes of stock of the Company or an Affiliate, each ISO shall terminate not more than five years from the date of
the grant or at such earlier time as the Option Agreement may provide.

 

(iv) Limitation on Yearly Exercise:
The Option Agreements shall restrict the amount of ISOs which may become exercisable in any calendar year (under this or any other ISO
plan of the Company or an Affiliate) so that the aggregate Fair Market Value (determined on the date each ISO is granted) of the stock
with respect to which ISOs are exercisable for the first time by the Participant in any calendar year does not exceed $100,000.

 

7. TERMS AND CONDITIONS OF STOCK
GRANTS.

 

Each Stock Grant to a Participant
shall state the principal terms in an Agreement duly executed by the Company and, to the extent required by law or requested by the Company,
by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator
determines to be appropriate and in the best interest of the Company, subject to the following minimum standards:

 

(a) Each Agreement shall state
the purchase price per share, if any, of the Shares covered by each Stock Grant, which purchase price shall be determined by the Administrator
but shall not be less than the minimum consideration required by the Delaware General Corporation Law, if any, on the date of the grant
of the Stock Grant;

 

(b) Each Agreement shall state
the number of Shares to which the Stock Grant pertains; and

 

(c) Each Agreement shall include
the terms of any right of the Company to restrict or reacquire the Shares subject to the Stock Grant, including the time and events upon
which such rights shall accrue and the purchase price therefor, if any.

 

8. TERMS AND CONDITIONS OF OTHER
STOCK-BASED AWARDS.

 

The Administrator shall have the
right to grant other Stock-Based Awards based upon the Common Stock having such terms and conditions as the Administrator may determine,
including, without limitation, the grant of Shares based upon certain conditions, the grant of securities convertible into Shares and
the grant of stock appreciation rights, phantom stock awards or stock units. The principal terms of each Stock-Based Award shall be set
forth in an Agreement, duly executed by the Company and, to the extent required by law or requested by the Company, by the Participant.
The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator determines
to be appropriate and in the best interest of the Company.

 

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The Company intends that the Plan
and any Stock-Based Awards granted hereunder be exempt from the application of Section 409A of the Code or meet the requirements of paragraphs
(2), (3) and (4) of subsection (a) of Section 409A of the Code, to the extent applicable, and be operated in accordance with Section 409A
so that any compensation deferred under any Stock-Based Award (and applicable investment earnings) shall not be included in income under
Section 409A of the Code. Any ambiguities in the Plan shall be construed to affect the intent as described in this Paragraph 8.

 

9. EXERCISE OF OPTIONS AND
ISSUE OF SHARES.

 

An Option (or any part or installment
thereof) shall be exercised by giving written notice to the Company or its designee (in a form acceptable to the Administrator, which
may include electronic notice), together with provision for payment of the aggregate exercise price in accordance with this Paragraph
for the Shares as to which the Option is being exercised, and upon compliance with any other condition(s) set forth in the Option Agreement.
Such notice shall be signed by the person exercising the Option (which signature may be provided electronically in a form acceptable to
the Administrator), shall state the number of Shares with respect to which the Option is being exercised and shall contain any representation
required by the Plan or the Option Agreement. Payment of the exercise price for the Shares as to which such Option is being exercised
shall be made (a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through delivery of shares
of Common Stock held for at least six months (if required to avoid negative accounting treatment) having a Fair Market Value equal as
of the date of the exercise to the aggregate cash exercise price for the number of Shares as to which the Option is being exercised, or
(c) at the discretion of the Administrator, by having the Company retain from the Shares otherwise issuable upon exercise of the Option,
a number of Shares having a Fair Market Value equal as of the date of exercise to the aggregate exercise price for the number of Shares
as to which the Option is being exercised, or (d) at the discretion of the Administrator, in accordance with a cashless exercise program
established with a securities brokerage firm, and approved by the Administrator, or (e) at the discretion of the Administrator, by any
combination of (a), (b), (c), and (d) above or (f) at the discretion of the Administrator, by payment of such other lawful consideration
as the Administrator may determine. Notwithstanding the foregoing, the Administrator shall accept only such payment on exercise of an
ISO as is permitted by Section 422 of the Code.

 

The Company shall then reasonably
promptly deliver the Shares as to which such Option was exercised to the Participant (or to the Participant’s Survivors, as the
case may be). In determining what constitutes “reasonably promptly,” it is expressly understood that the issuance and delivery
of the Shares may be delayed by the Company in order to comply with any law or regulation (including, without limitation, state securities
or “blue sky” laws) which requires the Company to take any action with respect to the Shares prior to their issuance. The
Shares shall, upon delivery, be fully paid, non-assessable Shares.

 

10. PAYMENT IN CONNECTION
WITH THE ISSUANCE OF STOCK GRANTS AND STOCK-BASED AWARDS AND ISSUE OF SHARES.

 

Any Stock Grant or Stock-Based
Award requiring payment of a purchase price for the Shares as to which such Stock Grant or Stock-Based Award is being granted shall be
made (a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through delivery of shares of Common
Stock held for at least six months (if required to avoid negative accounting treatment) and having a Fair Market Value equal as of the
date of payment to the purchase price of the Stock Grant or Stock-Based Award, or (c) at the discretion of the Administrator, by any combination
of (a) and (b) above; or (d) at the discretion of the Administrator, by payment of such other lawful consideration as the Administrator
may determine.

 

The Company shall when required
by the applicable Agreement, reasonably promptly deliver the Shares as to which such Stock Grant or Stock-Based Award was made to the
Participant (or to the Participant’s Survivors, as the case may be), subject to any escrow provision set forth in the applicable
Agreement. In determining what constitutes “reasonably promptly,” it is expressly understood that the issuance and delivery
of the Shares may be delayed by the Company in order to comply with any law or regulation (including, without limitation, state securities
or “blue sky” laws) which requires the Company to take any action with respect to the Shares prior to their issuance.

 

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11. RIGHTS AS A SHAREHOLDER.

 

No Participant to whom a Stock
Right has been granted shall have rights as a shareholder with respect to any Shares covered by such Stock Right except after due exercise
of an Option or issuance of Shares as set forth in any Agreement, tender of the aggregate exercise or purchase price, if any, for the
Shares being purchased and registration of the Shares in the Company’s share register in the name of the Participant.

 

12. ASSIGNABILITY AND TRANSFERABILITY
OF STOCK RIGHTS.

 

By its terms, a Stock Right granted
to a Participant shall not be transferable by the Participant other than (i) by will or by the laws of descent and distribution, or (ii)
as approved by the Administrator in its discretion and set forth in the applicable Agreement provided that no Stock Right may be transferred
by a Participant for value. Notwithstanding the foregoing, an ISO transferred except in compliance with clause (i) above shall no longer
qualify as an ISO. The designation of a beneficiary of a Stock Right by a Participant, with the prior approval of the Administrator and
in such form as the Administrator shall prescribe, shall not be deemed a transfer prohibited by this Paragraph. Except as provided above
during the Participant’s lifetime a Stock Right shall only be exercisable by or issued to such Participant (or his or her legal
representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not
be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation or other disposition
of any Stock Right or of any rights granted thereunder contrary to the provisions of this Plan, or the levy of any attachment or similar
process upon a Stock Right, shall be null and void.

 

13. EFFECT ON OPTIONS OF TERMINATION
OF SERVICE OTHER THAN FOR CAUSE OR DEATH OR DISABILITY.

 

Except as otherwise provided in
a Participant’s Option Agreement, in the event of a termination of service (whether as an Employee, director or Consultant) with
the Company or an Affiliate before the Participant has exercised an Option, the following rules apply:

 

(a) A Participant who ceases to
be an Employee, director or Consultant of the Company or of an Affiliate (for any reason other than termination for Cause, Disability,
or death for which events there are special rules in Paragraphs 14, 15, and 16, respectively), may exercise any Option granted to him
or her to the extent that the Option is exercisable on the date of such termination of service, but only within such term as the Administrator
has designated in a Participant’s Option Agreement.

 

(b) Except as provided in Subparagraph
(c) below, or Paragraph 15 or 16, in no event may an Option intended to be an ISO, be exercised later than three months after the Participant’s
termination of employment.

 

(c) The provisions of this Paragraph,
and not the provisions of Paragraph 15 or 16, shall apply to a Participant who subsequently becomes Disabled or dies after the termination
of employment, director status or consultancy; provided, however, in the case of a Participant’s Disability or death within three
months after the termination of employment, director status or consultancy, the Participant or the Participant’s Survivors may exercise
the Option within one year after the date of the Participant’s termination of service, but in no event after the date of expiration
of the term of the Option.

 

(d) Notwithstanding anything herein
to the contrary, if subsequent to a Participant’s termination of employment, termination of director status or termination of consultancy,
but prior to the exercise of an Option, the Administrator determines that, either prior or subsequent to the Participant’s termination,
the Participant engaged in conduct which would constitute Cause, then such Participant shall forthwith cease to have any right to exercise
any Option.

 

(e) A Participant to whom an Option
has been granted under the Plan who is absent from the Company or an Affiliate because of temporary disability (any disability other than
a Disability as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such
absence, be deemed, by virtue of such absence alone, to have terminated such Participant’s employment, director status or consultancy
with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide; provided, however, that, for ISOs,
any leave of absence granted by the Administrator of greater than ninety days, unless pursuant to a contract or statute that guarantees
the right to reemployment, shall cause such ISO to become a Non-Qualified Option on the 181st day following such leave of absence.

 

    	 	A-7	 

    	 

     

(f) Except as required by law or
as set forth in a Participant’s Option Agreement, Options granted under the Plan shall not be affected by any change of a Participant’s
status within or among the Company and any Affiliates, so long as the Participant continues to be an Employee, director or Consultant
of the Company or any Affiliate.

 

14. EFFECT ON OPTIONS OF TERMINATION
OF SERVICE FOR CAUSE.

 

Except as otherwise provided in
a Participant’s Option Agreement, the following rules apply if the Participant’s service (whether as an Employee, director
or Consultant) with the Company or an Affiliate is terminated for Cause prior to the time that all his or her outstanding Options have
been exercised:

 

(a) All outstanding and unexercised
Options as of the time the Participant is notified his or her service is terminated for Cause will immediately be forfeited.

 

(b) Cause is not limited to events
which have occurred prior to a Participant’s termination of service, nor is it necessary that the Administrator’s finding
of Cause occur prior to termination. If the Administrator determines, subsequent to a Participant’s termination of service but prior
to the exercise of an Option, that either prior or subsequent to the Participant’s termination the Participant engaged in conduct
which would constitute Cause, then the right to exercise any Option is forfeited.

 

15. EFFECT ON OPTIONS OF TERMINATION
OF SERVICE FOR DISABILITY.

 

Except as otherwise provided in
a Participant’s Option Agreement:

 

(a) A Participant who ceases to
be an Employee, director or Consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such
Participant:

 

(i) To the extent that the Option
has become exercisable but has not been exercised on the date of the Participant’s termination of service due to Disability; and

 

(ii) In the event rights to exercise
the Option accrue periodically, to the extent of a pro rata portion through the date of the Participant’s termination of service
due to Disability of any additional vesting rights that would have accrued on the next vesting date had the Participant not become Disabled.
The proration shall be based upon the number of days accrued in the current vesting period prior to the date of the Participant’s
termination of service due to Disability.

 

(b) A Disabled Participant may
exercise the Option only within the period ending one year after the date of the Participant’s termination of service due to Disability,
notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the
Participant had not been terminated due to Disability and had continued to be an Employee, director or Consultant or, if earlier, within
the originally prescribed term of the Option.

 

(c) The Administrator shall make
the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is
set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination).
If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination
shall be paid for by the Company.

 

    	 	A-8	 

    	 

     

16. EFFECT ON OPTIONS OF DEATH
WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT.

 

Except as otherwise provided in
a Participant’s Option Agreement:

 

(a) In the event of the death of
a Participant while the Participant is an Employee, director or Consultant of the Company or of an Affiliate, such Option may be exercised
by the Participant’s Survivors:

 

(i) To the extent that the Option
has become exercisable but has not been exercised on the date of death; and

 

(ii) In the event rights to exercise
the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would
have accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the
current vesting period prior to the Participant’s date of death.

 

(b) If the Participant’s
Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death
of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on
a later date if he or she had not died and had continued to be an Employee, director or Consultant or, if earlier, within the originally
prescribed term of the Option.

 

17. EFFECT OF TERMINATION OF
SERVICE ON STOCK GRANTS AND STOCK-BASED AWARDS.

 

In the event of a termination of
service (whether as an Employee, director or Consultant) with the Company or an Affiliate for any reason before the Participant has accepted
a Stock Grant or a Stock-Based Award and paid the purchase price, if required, such grant shall terminate.

 

For purposes of this Paragraph
17 and Paragraph 18 below, a Participant to whom a Stock Grant has been issued under the Plan who is absent from work with the Company
or with an Affiliate because of temporary disability (any disability other than a Disability as defined in Paragraph 1 hereof), or who
is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone,
to have terminated such Participant’s employment, director status or consultancy with the Company or with an Affiliate, except as
the Administrator may otherwise expressly provide.

 

In addition, for purposes of this
Paragraph 17 and Paragraph 18 below, any change of employment or other service within or among the Company and any Affiliates shall not
be treated as a termination of employment, director status or consultancy so long as the Participant continues to be an Employee, director
or Consultant of the Company or any Affiliate.

 

18. EFFECT ON STOCK GRANTS
OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE OR DEATH OR DISABILITY.

 

Except as otherwise provided in
a Participant’s Stock Grant Agreement, in the event of a termination of service (whether as an Employee, director or Consultant),
other than termination for Cause, Disability, or death for which events there are special rules in Paragraphs 19, 20, and 21, respectively,
before all forfeiture provisions or Company rights of repurchase shall have lapsed, then the Company shall have the right to cancel or
repurchase that number of Shares subject to a Stock Grant as to which the Company’s forfeiture or repurchase rights have not lapsed.

 

19. EFFECT ON STOCK GRANTS
OF TERMINATION OF SERVICE FOR CAUSE.

 

Except as otherwise provided in
a Participant’s Stock Grant Agreement, the following rules apply if the Participant’s service (whether as an Employee, director
or Consultant) with the Company or an Affiliate is terminated for Cause:

 

(a) All Shares subject to any Stock
Grant whether or not then subject to forfeiture or repurchase shall be immediately subject to repurchase by the Company at par value.

 

(b) Cause is not limited to events
which have occurred prior to a Participant’s termination of service, nor is it necessary that the Administrator’s finding
of Cause occur prior to termination. If the Administrator determines, subsequent to a Participant’s termination of service, that
either prior or subsequent to the Participant’s termination the Participant engaged in conduct which would constitute Cause, then
all Shares subject to any Stock Grant that remained subject to forfeiture provisions or as to which the Company had a repurchase right
on the date of termination shall be immediately forfeited to the Company.

 

    	 	A-9	 

    	 

     

20. EFFECT ON STOCK GRANTS OF
TERMINATION OF SERVICE FOR DISABILITY.

 

Except as otherwise provided in
a Participant’s Stock Grant Agreement, the following rules apply if a Participant ceases to be an Employee, director or Consultant
of the Company or of an Affiliate by reason of Disability: to the extent the forfeiture provisions or the Company’s rights of repurchase
have not lapsed on the date of Disability, they shall be exercisable; provided, however, that in the event such forfeiture provisions
or rights of repurchase lapse periodically, such provisions or rights shall lapse to the extent of a pro rata portion of the Shares subject
to such Stock Grant through the date of Disability as would have lapsed had the Participant not become Disabled. The proration shall be
based upon the number of days accrued prior to the date of Disability.

 

The Administrator shall make the
determination both as to whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is
set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination).
If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination
shall be paid for by the Company.

 

21. EFFECT ON STOCK GRANTS OF
DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT.

 

Except as otherwise provided in
a Participant’s Stock Grant Agreement, the following rules apply in the event of the death of a Participant while the Participant
is an Employee, director or Consultant of the Company or of an Affiliate: to the extent the forfeiture provisions or the Company’s
rights of repurchase have not lapsed on the date of death, they shall be exercisable; provided, however, that in the event such forfeiture
provisions or rights of repurchase lapse periodically, such provisions or rights shall lapse to the extent of a pro rata portion of the
Shares subject to such Stock Grant through the date of death as would have lapsed had the Participant not died. The proration shall be
based upon the number of days accrued prior to the Participant’s date of death.

 

22. PURCHASE FOR INVESTMENT.

 

Unless the offering and sale of
the Shares shall have been effectively registered under the Securities Act, the Company shall be under no obligation to issue Shares under
the Plan unless and until the following conditions have been fulfilled:

 

(a) The person who receives a Stock
Right shall warrant to the Company, prior to the receipt of Shares, that such person is acquiring such Shares for his or her own account,
for investment, and not with a view to, or for sale in connection with, the distribution of any such Shares, in which event the person
acquiring such Shares shall be bound by the provisions of the following legend (or a legend in substantially similar form) which shall
be endorsed upon the certificate evidencing the Shares issued pursuant to such exercise or such grant:

 

“The shares represented by this certificate
have been taken for investment and they may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either
(a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as amended, or (b) the Company
shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and
(2) there shall have been compliance with all applicable state securities laws.”

 

(b) At the discretion of the Administrator,
the Company shall have received an opinion of its counsel that the Shares may be issued in compliance with the Securities Act without
registration thereunder.

 

23. DISSOLUTION OR LIQUIDATION
OF THE COMPANY.

 

Upon the dissolution or liquidation
of the Company, all Options granted under this Plan which as of such date shall not have been exercised and all Stock Grants and Stock-Based
Awards which have not been accepted, to the extent required under the applicable Agreement, will terminate and become null and void; provided,
however, that if the rights of a Participant or a Participant’s Survivors have not otherwise terminated and expired, the Participant
or the Participant’s Survivors will have the right immediately prior to such dissolution or liquidation to exercise or accept any
Stock Right to the extent that the Stock Right is exercisable or subject to acceptance as of the date immediately prior to such dissolution
or liquidation. Upon the dissolution or liquidation of the Company, any outstanding Stock-Based Awards shall immediately terminate unless
otherwise determined by the Administrator or specifically provided in the applicable Agreement.

 

    	 	A-10	 

    	 

     

24. ADJUSTMENTS.

 

Upon the occurrence of any of the
following events, a Participant’s rights with respect to any Stock Right granted to him or her hereunder shall be adjusted as hereinafter
provided, unless otherwise specifically provided in a Participant’s Agreement:

 

(a) Stock Dividends and Stock
Splits. If (i) the shares of Common Stock shall be subdivided or combined into a greater or smaller number of shares or if the Company
shall issue any shares of Common Stock as a stock dividend on its outstanding Common Stock, or (ii) additional shares or new or different
shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of Common Stock, each Stock
Right and the number of shares of Common Stock deliverable thereunder shall be appropriately increased or decreased proportionately, and
appropriate adjustments shall be made including, in the exercise or purchase price per share, to reflect such events. The number of Shares
subject to the limitations in Paragraph 3(a) and 4(c) shall also be proportionately adjusted upon the occurrence of such events.

 

(b) Corporate Transactions.
If the Company is to be consolidated with or acquired by another entity in a merger, consolidation, or sale of all or substantially all
of the Company’s assets other than a transaction to merely change the state of incorporation (a “Corporate Transaction”),
the Administrator or the board of directors of any entity assuming the obligations of the Company hereunder (the “Successor Board”),
shall, as to outstanding Options, either (i) make appropriate provision for the continuation of such Options by substituting on an equitable
basis for the Shares then subject to such Options either the consideration payable with respect to the outstanding shares of Common Stock
in connection with the Corporate Transaction or securities of any successor or acquiring entity; or (ii) upon written notice to the Participants,
provide that such Options must be exercised (either (A) to the extent then exercisable or, (B) at the discretion of the Administrator,
any such Options being made partially or fully exercisable for purposes of this Subparagraph), within a specified number of days of the
date of such notice, at the end of which period such Options which have not been exercised shall terminate whether or not vested; or (iii)
terminate such Options in exchange for payment of an amount equal to the consideration payable upon consummation of such Corporate Transaction
to a holder of the number of shares of Common Stock into which such Option would have been exercisable (either (A) to the extent then
exercisable or, (B) at the discretion of the Administrator, any such Options being made partially or fully exercisable for purposes of
this Subparagraph) less the aggregate exercise price thereof. For purposes of determining the payments to be made pursuant to Subclause
(iii) above, in the case of a Corporate Transaction the consideration for which, in whole or in part, is other than cash, the consideration
other than cash shall be valued at the fair value thereof as determined in good faith by the Board of Directors.

 

With respect to outstanding Stock
Grants, the Administrator or the Successor Board, shall make appropriate provision for the continuation of such Stock Grants on the same
terms and conditions by substituting on an equitable basis for the Shares then subject to such Stock Grants either the consideration payable
with respect to the outstanding Shares of Common Stock in connection with the Corporate Transaction or securities of any successor or
acquiring entity. In lieu of the foregoing, in connection with any Corporate Transaction, the Administrator may provide that, upon consummation
of the Corporate Transaction, each outstanding Stock Grant shall be terminated in exchange for payment of an amount equal to the consideration
payable upon consummation of such Corporate Transaction to a holder of the number of shares of Common Stock comprising such Stock Grant
(to the extent such Stock Grant is no longer subject to any forfeiture or repurchase rights then in effect or, at the discretion of the
Administrator, all forfeiture and repurchase rights being waived upon such Corporate Transaction).

 

In taking any of the actions permitted
under this Paragraph 24(b), the Administrator shall not be obligated by the Plan to treat all Stock Rights, all Stock Rights held by a
Participant, or all Stock Rights of the same type, identically.

 

    	 	A-11	 

    	 

     

(c) Recapitalization or Reorganization.
In the event of a recapitalization or reorganization of the Company other than a Corporate Transaction pursuant to which securities of
the Company or of another corporation are issued with respect to the outstanding shares of Common Stock, a Participant upon exercising
an Option or accepting a Stock Grant after the recapitalization or reorganization shall be entitled to receive for the price paid upon
such exercise or acceptance if any, the number of replacement securities which would have been received if such Option had been exercised
or Stock Grant accepted prior to such recapitalization or reorganization.

 

(d) Adjustments to Stock-Based
Awards. Upon the happening of any of the events described in Subparagraphs (a), (b) or (c) above, any outstanding Stock-Based Award
shall be appropriately adjusted to reflect the events described in such Subparagraphs. The Administrator or the Successor Board shall
determine the specific adjustments to be made under this Paragraph 24, including, but not limited to the effect of any, Corporate Transaction
and, subject to Paragraph 4, its determination shall be conclusive.

 

(e) Modification of Options.
Notwithstanding the foregoing, any adjustments made pursuant to Subparagraph (a), (b) or (c) above with respect to Options shall be made
only after the Administrator determines whether such adjustments would (i) constitute a “modification” of any ISOs (as that
term is defined in Section 424(h) of the Code) or (ii) cause any adverse tax consequences for the holders of Options, including, but not
limited to, pursuant to Section 409A of the Code. If the Administrator determines that such adjustments made with respect to Options would
constitute a modification or other adverse tax consequence, it may refrain from making such adjustments, unless the holder of an Option
specifically agrees in writing that such adjustment be made and such writing indicates that the holder has full knowledge of the consequences
of such “modification” on his or her income tax treatment with respect to the Option. This paragraph shall not apply to the
acceleration of the vesting of any ISO that would cause any portion of the ISO to violate the annual vesting limitation contained in Section
422(d) of the Code, as described in Paragraph 6(b)(iv).

 

25. ISSUANCES OF SECURITIES.

 

Except as expressly provided herein,
no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect,
and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject to Stock Rights. Except as expressly
provided herein, no adjustments shall be made for dividends paid in cash or in property (including without limitation, securities) of
the Company prior to any issuance of Shares pursuant to a Stock Right.

 

26. FRACTIONAL SHARES.

 

No fractional shares shall be issued
under the Plan and the person exercising a Stock Right shall receive from the Company cash in lieu of such fractional shares equal to
the Fair Market Value thereof.

 

27. CONVERSION OF ISOs INTO
NON-QUALIFIED OPTIONS; TERMINATION OF ISOs.

 

The Administrator, at the written
request of any Participant, may in its discretion take such actions as may be necessary to convert such Participant’s ISOs (or any
portions thereof) that have not been exercised on the date of conversion into Non-Qualified Options at any time prior to the expiration
of such ISOs, regardless of whether the Participant is an Employee of the Company or an Affiliate at the time of such conversion. At the
time of such conversion, the Administrator (with the consent of the Participant) may impose such conditions on the exercise of the resulting
Non-Qualified Options as the Administrator in its discretion may determine, provided that such conditions shall not be inconsistent with
this Plan. Nothing in the Plan shall be deemed to give any Participant the right to have such Participant’s ISOs converted into
Non-Qualified Options, and no such conversion shall occur until and unless the Administrator takes appropriate action. The Administrator,
with the consent of the Participant, may also terminate any portion of any ISO that has not been exercised at the time of such conversion.

 

    	 	A-12	 

    	 

     

28. WITHHOLDING.

 

In the event that any federal,
state, or local income taxes, employment taxes, Federal Insurance Contributions Act (“F.I.C.A.”) withholdings or other amounts
are required by applicable law or governmental regulation to be withheld from the Participant’s salary, wages or other remuneration
in connection with the issuance of a Stock Right or Shares under the Plan or for any other reason required by law, the Company may withhold
from the Participant’s compensation, if any, or may require that the Participant advance in cash to the Company, or to any Affiliate
of the Company which employs or employed the Participant, the statutory minimum amount of such withholdings unless a different withholding
arrangement, including the use of shares of the Company’s Common Stock or a promissory note, is authorized by the Administrator
(and permitted by law). For purposes hereof, the fair market value of the shares withheld for purposes of payroll withholding shall be
determined in the manner set forth under the definition of Fair Market Value provided in Paragraph 1 above, as of the most recent practicable
date prior to the date of exercise. If the Fair Market Value of the shares withheld is less than the amount of payroll withholdings required,
the Participant may be required to advance the difference in cash to the Company or the Affiliate employer. The Administrator in its discretion
may condition the exercise of an Option for less than the then Fair Market Value on the Participant’s payment of such additional
withholding.

 

29. NOTICE TO COMPANY OF DISQUALIFYING
DISPOSITION.

 

Each Employee who receives an ISO
must agree to notify the Company in writing immediately after the Employee makes a Disqualifying Disposition of any Shares acquired pursuant
to the exercise of an ISO. A Disqualifying Disposition is defined in Section 424(c) of the Code and includes any disposition (including
any sale or gift) of such Shares before the later of (a) two years after the date the Employee was granted the ISO, or (b) one year after
the date the Employee acquired Shares by exercising the ISO, except as otherwise provided in Section 424(c) of the Code. If the Employee
has died before such Shares are sold, these holding period requirements do not apply and no Disqualifying Disposition can occur thereafter.

 

30. TERMINATION OF THE PLAN.

 

The Plan will terminate on January
1, 2030, the date which is ten years from the earlier of the date of its adoption by the Board of Directors and the date of its
approval by the shareholders of the Company. The Plan may be terminated at an earlier date by vote of the shareholders or the Board of
Directors of the Company; provided, however, that any such earlier termination shall not affect any Agreements executed prior to the effective
date of such termination. Termination of the Plan shall not affect any Stock Rights theretofore granted.

 

31. AMENDMENT OF THE PLAN AND
AGREEMENTS.

 

The Plan may be amended by the
shareholders of the Company. The Plan may also be amended by the Administrator, including, without limitation, to the extent necessary
to qualify any or all outstanding Stock Rights granted under the Plan or Stock Rights to be granted under the Plan for favorable federal
income tax treatment as may be afforded incentive stock options under Section 422 of the Code (including deferral of taxation upon exercise),
and to the extent necessary to qualify the Shares issuable under the Plan for listing on any national securities exchange or quotation
in any national automated quotation system of securities dealers. In addition, if NYSE Amex amends its corporate governance rules so that
such rules no longer require stockholder approval of “material amendments” of equity compensation plans, then, from and after
the effective date of such an amendment to such rules, no amendment of the Plan which (i) materially increases the number of shares to
be issued under the Plan (other than to reflect a reorganization, stock split, merger, spin-off or similar transaction); (ii) materially
increases the benefits to Participants, including any material change to: (a) permit a repricing (or decrease in exercise price) of outstanding
Options, (b) reduce the price at which Shares or Options may be offered, or (c) extend the duration of the Plan; (iii) materially expands
the class of Participants eligible to participate in the Plan; or (iv) expands the types of awards provided under the Plan shall become
effective unless stockholder approval is obtained. Any amendment approved by the Administrator which the Administrator determines is of
a scope that requires shareholder approval shall be subject to obtaining such shareholder approval. Any modification or amendment of the
Plan shall not, without the consent of a Participant, adversely affect his or her rights under a Stock Right previously granted to him
or her. With the consent of the Participant affected, the Administrator may amend outstanding Agreements in a manner which may be adverse
to the Participant but which is not inconsistent with the Plan. In the discretion of the Administrator, outstanding Agreements may be
amended by the Administrator in a manner which is not adverse to the Participant.

 

32. EMPLOYMENT OR OTHER RELATIONSHIP.

 

Nothing in this Plan or any Agreement
shall be deemed to prevent the Company or an Affiliate from terminating the employment, consultancy or director status of a Participant,
nor to prevent a Participant from terminating his or her own employment, consultancy or director status or to give any Participant a right
to be retained in employment or other service by the Company or any Affiliate for any period of time.

 

33. GOVERNING LAW.

 

This Plan shall be construed and
enforced in accordance with the law of the State of New York.

 

    	 	A-13

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