Document:

Exhibit 10.38

  

  

  

  
    Rexahn Pharmaceuticals, Inc.

    15245 Shady Grove Road, Suite 455

    Rockville, MD 20850

     

    

    Lock-Up Agreement

     

    _____ __, 2020

     

    This Lock-Up Agreement (this “Agreement”) is executed in connection with the Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) by and among Rexahn Pharmaceuticals, Inc. (“Parent”), Razor Merger Sub, Inc. (“Merger Sub”), and Ocuphire Pharma, Inc. (the “Company”), dated as of June 17, 2020. Capitalized terms used herein but not defined shall have the meanings
      ascribed to such terms in the Merger Agreement.

     

    In connection with, and as a material inducement to, each of the parties entering into the Merger Agreement and for other good and valuable consideration the receipt and sufficiency of which is
      hereby acknowledged, the undersigned, by executing this Agreement, irrevocably agrees that, without the prior written consent of Parent, during the period commencing at the Effective Time and continuing until the end of the Lock-Up Period (as
      hereinafter defined), the undersigned will not:  (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, make any short sale or
      otherwise transfer or dispose of or lend, directly or indirectly, any shares of Parent Common Stock or any securities convertible into, exercisable or exchangeable for or that represent the right to receive Parent Common Stock (including without
      limitation, Parent Common Stock or such other securities which may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations of the SEC and securities of Parent which may be issued upon exercise of a stock
      option, restricted stock unit or warrant) whether now owned or hereafter acquired (collectively, the “Parent Securities”); (2) enter into any swap or other agreement that transfers, in whole
      or in part, any of the economic consequences of ownership of the Parent Securities, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Parent Common Stock or such other securities, in cash or otherwise;
      (3) make any demand for or exercise any right with respect to, the registration of any Parent Common Stock or any security convertible into or exercisable or exchangeable for Parent Common Stock; (4) except for any voting agreement entered into as of
      the date hereof by the undersigned with Parent and the Company, grant any proxies or powers of attorney with respect to any Parent Securities, deposit any Parent Securities into a voting trust or enter into a voting agreement or similar arrangement
      or commitment with respect to any Parent Securities; or (5) publicly disclose the intention to do any of the foregoing (each of the foregoing restrictions, the “Lock-Up Restrictions”).

     

    Notwithstanding the terms of the foregoing paragraph, the Lock-Up Restrictions shall automatically terminate and cease to be effective on the date that is one-hundred and eighty (180) days after the
      Effective Time.  The period during which the Lock-Up Restrictions apply to the Parent Securities shall be deemed the “Lock-Up Period” with respect thereto.

     

    
      
        

    

    
    The undersigned agrees that the Lock-Up Restrictions preclude the undersigned from engaging in any hedging or other transaction with respect to any then-subject Parent Securities which is designed to
      or which reasonably could be expected to lead to or result in a sale or disposition of such Parent Securities even if such Parent Securities would be disposed of by someone other than the undersigned.  Such prohibited hedging or other transactions
      would include without limitation any short sale or any purchase, sale or grant of any right (including without limitation any put or call option) with respect to such Parent Securities or with respect to any security that includes, relates to, or
      derives any significant part of its value from such Parent Securities.

     

    Notwithstanding the foregoing, the undersigned may transfer any of the Parent Securities (i) if the undersigned is a natural person, (1) to any person related to the undersigned by blood or adoption
      who is an immediate family member (not more remote than first cousin), or a family member by marriage or domestic partnership (a “Family Member”), (2) as a bona
        fide gift or charitable contribution, (3) to any trust for the direct or indirect benefit of the undersigned or any Family Member of the undersigned, (4) to the undersigned’s estate, following the death of the undersigned, by will, intestacy
      or other operation of law, (5) by operation of law pursuant to a qualified domestic order or in connection with a divorce settlement, or (6) to any partnership, corporation, limited liability company, investment fund or other entity which is
      controlled by the undersigned and/or by any Family Member of the undersigned; (ii) if the undersigned is a corporation, partnership, limited liability company, trust or other business entity, (1) to another corporation, partnership, limited liability
      company, trust or other business entity that is a direct or indirect affiliate (as defined in Rule 405 promulgated under the Securities Act of 1933, as amended) of the undersigned or (2) as distributions or dividends of shares of Parent Common Stock
      or any security convertible into or exercisable for Parent Common Stock to limited partners, limited liability company members or stockholders of the undersigned or holders of similar equity interests in the undersigned, (iii) if the undersigned is a
      trust, to the beneficiary of such trust, (iv) to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under above clauses (i) through (iii), (v) to Parent in a transaction exempt from Section 16(b) of
      the Securities Exchange Act of 1934, as amended (the “Exchange Act”) upon a vesting event of the Parent Securities or upon the exercise of options or warrants to purchase Parent Common Stock
      on a “cashless” or “net exercise” basis or to cover tax withholding obligations of the undersigned in connection with such vesting or exercise (but for the avoidance of doubt, excluding all manners of exercise that would involve a sale in the open
      market of any securities relating to such options or warrants, whether to cover the applicable aggregate exercise price, withholding tax obligations or otherwise), (vi) to Parent in connection with the termination of employment or other termination
      of a service provider and pursuant to agreements in effect as of the Effective Time whereby Parent has the option to repurchase such shares or securities, (vii) acquired by the undersigned in open market transactions after the Effective Time, (viii)
      pursuant to a bona fide third party tender offer, merger, consolidation or other similar transaction made to all holders of Parent’s capital stock involving a change of control of Parent, provided that in the event that such tender offer, merger,
      consolidation or other such transaction is not completed, the Parent Securities shall remain subject to the restrictions contained in this Agreement, or (ix) pursuant to an order of a court or regulatory agency; provided,
      in the case of clauses (i)-(iv), that (A) such transfer shall not involve a disposition for value and (B) the transferee shall have executed and delivered a Lock-Up Agreement with terms and in a form substantially identical to this Agreement with
      respect to the shares of Parent Common Stock or other securities so transferred; and provided,  further, in the case of clauses (i)-(vii), no filing or public
      announcement under the Exchange Act or otherwise shall be required or voluntarily made by any person in connection with such transfer.

     

    
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    In addition, the foregoing restrictions shall not apply to (i) the exercise of stock options granted pursuant to equity incentive plans existing immediately following the Effective Time, including
      the “net” exercise of such options in accordance with their terms and the surrender of Parent Common Stock in lieu of payment in cash of the exercise price and any tax withholding obligations due as a result of such exercise (but for the avoidance of
      doubt, excluding all manners of exercise that would involve a sale in the open market of any securities relating to such options, whether to cover the applicable aggregate exercise price, withholding tax obligations or otherwise); provided that it shall apply to any of the Parent Securities issued upon such exercise, (ii) the sale or transfer of Parent Common Stock in an amount approximately equivalent to satisfy any income tax liabilities
      associated with ownership of Parent Securities; or (iii) the establishment of any contract, instruction or plan (a “Plan”) that satisfies all of the requirements of Rule 10b5-1(c)(1)(i)(B)
      under the Exchange Act; provided that (A) such Plan does not provide for the transfer of Parent Common Stock or any securities convertible into or exercisable or exchangeable for Parent Common Stock during
      the Lock-Up Period and (B) no public announcement or filing with the SEC or other regulatory authority is required or voluntarily made by or on behalf of the undersigned, Parent or any other person, prior to the expiration of the Lock-Up Period, in
      connection with the establishment of such Plan or any transactions contemplated thereunder.

     

    Any attempted transfer in violation of this Agreement will be of no effect and null and void, regardless of whether the purported transferee has any actual or constructive knowledge of the transfer
      restrictions set forth in this Agreement, and will not be recorded on the share register of Parent.  In furtherance of the foregoing, the undersigned hereby agrees and consents to the entry of “stop transfer” instructions with Parent’s transfer agent
      and registrar relating to the transfer of the undersigned’s shares of Parent Common Stock in violation of this Agreement and further agrees that Parent and its transfer agent and registrar are hereby authorized to decline to make any transfer of
      shares of Parent Common Stock if such transfer would constitute a violation or breach of this Agreement.

     

    Parent may cause the legend set forth below, or a legend substantially equivalent thereto, to be placed upon any certificate(s) or other documents, ledgers or instruments evidencing the undersigned’s
      ownership of Parent Common Stock:

     

    THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AND MAY ONLY BE TRANSFERRED IN COMPLIANCE WITH A LOCK-UP AGREEMENT, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY.

     

    The undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Agreement and that upon request, the undersigned will execute any additional
      documents reasonably necessary to ensure the validity or enforcement of this Agreement.  All authority herein conferred or agreed to be conferred and any obligations of the undersigned shall be binding upon the successors, assigns, heirs or personal
      representatives of the undersigned.

     

    
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    In the event that any holder of Parent Securities that is subject to a substantially similar agreement entered into by such holder and that acquired such Parent Securities as a former securityholder
      of the Company pursuant to the Merger Agreement, other than the undersigned, is permitted by Parent to sell or otherwise transfer or dispose of shares of Parent Common Stock for value other than as permitted by this or a substantially similar
      agreement entered into by such holder, the same percentage of shares of Parent Common Stock held by the undersigned shall be immediately and fully released on the same terms from any remaining restrictions set forth herein (the “Pro-Rata Release”). Upon the release of any Parent Securities from this Agreement, Parent will cooperate with the undersigned to facilitate the timely preparation and delivery of evidence of
      book-entry shares representing the Parent Securities without the restrictive legend above or the withdrawal of any stop transfer instructions.

     

    The undersigned understands that the undersigned shall be released from all obligations under this Agreement upon the earlier of (i) the expiration of the Lock-Up Period, and (ii) if the Merger
      Agreement is terminated prior to the Effective Time pursuant to its terms, upon the date of such termination.

     

    Any and all remedies herein expressly conferred upon Parent and the Company will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity, and the
      exercise by Parent and/or the Company of any one remedy will not preclude the exercise of any other remedy.  The undersigned agrees that irreparable damage would occur to Parent and the Company in the event that any provision of this Agreement were
      not performed in accordance with its specific terms or were otherwise breached.  It is accordingly agreed that Parent and the Company shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically
      the terms and provisions hereof in any court of the United States or any state having jurisdiction, this being in addition to any other remedy to which Parent and the Company are entitled at law or in equity, and the undersigned waives any bond,
      surety or other security that might be required of Parent or the Company with respect thereto.

     

    This Agreement and any claim, controversy or dispute arising under or related to this Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without
      regard to the conflict of laws principles thereof.

     

    This Agreement, and any certificates, documents, instruments and writings that are delivered pursuant hereto, constitutes the entire agreement and understanding of Parent, the Company and the
      undersigned in respect of the subject matter hereof and supersedes all prior understandings, agreements or representations by or among Parent, the Company and the undersigned, written or oral, to the extent they relate in any way to the subject
      matter hereof.  This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument.  The exchange of a fully executed Agreement (in counterparts or otherwise) by the
      undersigned by facsimile or electronic transmission in “.pdf” format shall be sufficient to bind the undersigned to the terms and conditions of this Agreement.

    

    

    (Signature Page Follows)

     

    

    
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    The undersigned understands that Parent, Merger Sub and the Company are relying on this Lock-Up Agreement in entering into the Merger Agreement and proceeding toward consummation of the transactions
      contemplated thereby. The undersigned further understands that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned and the heirs, personal representatives, successors and assigns of the undersigned.

    

    

    	 	
            Very truly yours,

          
	 	 
	 	 
	 	
            Printed Name of Holder

          
	 	 
	 	
            By:

          	 
	 	 	
            Signature

          
	 	 	 
	 	 
	 	
            Printed Name of Person Signing

            (and indicate capacity of person signing if signing

            as custodian, trustee, or on behalf of an entity)

          

     

    

  

  
    [Lock-Up Agreement Signature Page]Exhibits 10.41

      

       

      

      Ocuphire Pharma, Inc.

       

      2021 Inducement Plan

      Adopted by the Board of Directors: February 22, 2021

       

      1.           General.

       

      (a)      Eligible Award Recipients.  The only persons eligible to receive grants of
        Awards under this Plan are individuals who satisfy the standards for inducement grants under Nasdaq Marketplace Rule 5635(c)(4) or 5635(c)(3), if applicable, and the related guidance under Nasdaq IM 5635-1 (together with any analogous rules or
        guidance effective after the date hereof, the “Inducement Award Rules”). A person who previously served as an Employee or Director will not be eligible to receive Awards under this Plan,
        other than following a bona fide period of non-employment. Persons eligible to receive grants of Awards under this Plan are referred to in this Plan as “Eligible
          Employees.” These Awards must be approved by either a majority of the Company’s “Independent Directors” (as such term is defined in Nasdaq Marketplace Rule 5605(a)(2)) or the
        Company’s compensation committee, provided such committee comprises solely Independent Directors (the “Independent Compensation Committee”) in order to comply with the exemption from the
        stockholder approval requirement for “inducement grants” provided under the Inducement Award Rules.

       

      (b)     Available Awards.  This Plan provides for the grant of the following Awards: (i)
        Options, (ii) Stock Appreciation Rights, (iii) Restricted Stock Awards, (iv) Restricted Stock Unit Awards, (v) Performance Stock Awards, (vi) Performance Cash Awards and (vii) Other Stock Awards.  All Options shall be Nonstatutory Stock Options.

       

      (c)         Purpose.  This Plan, through the grant of Awards, is intended to provide (i) an
        inducement material for certain individuals to enter into employment with the Company within the meaning of Rule 5635(c)(4) of the Nasdaq Marketplace Rules, (ii) incentives for such persons to exert maximum efforts for the success of the Company
        and any Affiliate and (iii) a means by which Eligible Employees may be given an opportunity to benefit from increases in value of the Common Stock.

       

      2.           Administration.

       

      (a)         Administration by Board.  The Board will administer this Plan; provided, however, that
        Awards may only be granted by either (i) a majority of the Company’s Independent Directors or (ii) the Independent Compensation Committee. Subject to those constraints and
        the other constraints of the Inducement Award Rules, the Board may delegate some of its powers of administration of this Plan to a Committee or Committees, as provided in Section 2(c).

       

      (b)       Powers of Board.  The Board will have the power, subject to, and within the limitations
        of, the express provisions of this Plan and the Inducement Award Rules:

       

      
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      (i)          To determine: (A) who will be granted Awards; (B) when and how each Award will be granted; (C) what type of Award will be
        granted; (D) the provisions of each Award (which need not be identical), including when a person will be permitted to exercise or otherwise receive cash or Common Stock under the Award; (E) the number of shares of Common Stock subject to, or the
        cash value of, an Award; and (F) the Fair Market Value applicable to an Award; provided, however, that Awards may only be granted by either (i) a majority of the Company’s Independent Directors or (ii) the
        Independent Compensation Committee.

       

      (ii)          To construe and interpret this Plan and Awards granted under it, and to establish, amend and revoke rules and regulations for
        administration of this Plan and Awards.  The Board, in the exercise of these powers, may correct any defect, omission or inconsistency in this Plan or in any Award Agreement, in a manner and to the extent it will deem necessary or expedient to make
        this Plan or Award fully effective.

       

      (iii)         To settle all controversies regarding this Plan and Awards granted under it.

       

      (iv)         To accelerate, in whole or in part, the time at which an Award may be exercised or vest (or the time at which cash or shares of
        Common Stock may be issued in settlement thereof).

       

      (v)          To suspend or terminate this Plan at any time.  Except as otherwise provided in this Plan or an Award Agreement,
        suspension or termination of this Plan will not materially impair a Participant’s rights under the Participant’s then-outstanding Award without the Participant’s written consent, except as provided in subsection (viii) below.

       

      (vi)      To amend this Plan in any respect the Board deems necessary or advisable, including, without limitation, by adopting amendments
        relating to certain nonqualified deferred compensation under Section 409A of the Code and/or to ensure this Plan or Awards granted under this Plan are exempt from, or compliant with, the requirements for nonqualified deferred compensation under
        Section 409A of the Code, subject to the limitations, if any, of applicable law.  Except as provided in Section 9(a) relating to Capitalization Adjustments, if required by applicable law or listing requirements, the Company shall seek
        stockholder approval for any amendment of this Plan.  Except as otherwise provided in this Plan or an Award Agreement, no amendment of this Plan will materially impair a Participant’s rights under an outstanding Award without the Participant’s
        written consent.

       

      (vii)     To submit any amendment to this Plan for stockholder approval, including, but not limited to, amendments to this Plan intended to
        satisfy the requirements of Rule 16b-3 or to comply with other applicable laws or listing requirements.

       

      (viii)       To approve forms of Award Agreements for use under this Plan and to amend the terms of any one or more Awards, including, but
        not limited to, amendments to provide terms more favorable to the Participant than previously provided in the Award Agreement, subject to any specified limits in this Plan that are not subject to Board discretion; provided, however, that a
        Participant’s rights under any Award will not be impaired by any such amendment unless (A) the Company requests the consent of the affected Participant, and (B) such Participant consents in writing. Notwithstanding the foregoing, (1) a
        Participant’s rights will not be deemed to have been impaired by any such amendment if the Board, in its sole discretion, determines that the amendment, taken as a whole, does not materially impair the Participant’s rights, and (2) subject to the
        limitations of applicable law, if any, the Board may amend the terms of any one or more Awards without the affected Participant’s consent (A) to clarify the manner of exemption from, or to bring the Award into compliance with, Section 409A of the
        Code and the Department of Treasury regulations and other interpretive guidance issued thereunder (including, without limitation, such guidance as may be issued after the Effective Date); or (B) to comply with other applicable laws or listing
        requirements.

       

      
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      (ix)       Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best
        interests of the Company and that are not in conflict with the provisions of this Plan or Awards.

       

      (x)          To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in this Plan by Eligible
        Employees who are foreign nationals or employed outside the United States (provided that Board approval will not be necessary for immaterial modifications to this Plan or any Award Agreement that are required for compliance with the laws of the
        relevant foreign jurisdiction).

       

      (c)          Delegation to Committee.

       

      (i)       General.  Subject to the terms of Section 4(b), the Board may delegate some or
        all of the administration of this Plan to a Committee or Committees.  If administration of this Plan is delegated to a Committee, the Committee will have, in connection with the administration of this Plan, the powers theretofore possessed by the
        Board that have been delegated to the Committee, including the power to delegate to a subcommittee of the Committee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board will thereafter
        be construed as being to the Committee or subcommittee, as applicable).  Any delegation of administrative powers will be reflected in resolutions, not inconsistent with the provisions of this Plan, adopted from time to time by the Board or
        Committee (as applicable).  The Committee may, at any time, abolish the subcommittee and/or revest in the Committee any powers delegated to the subcommittee. The Board may retain the authority to concurrently administer this Plan with the Committee
        and may, at any time, revest in the Board some or all of the powers previously delegated.

       

      (ii)        Rule 16b-3 Compliance.  The Committee may consist solely of two or more Non-Employee
        Directors in accordance with Rule 16b-3.

       

      (d)        Effect of Board’s Decision. All determinations,
        interpretations and constructions made by the Board in good faith will not be subject to review by any person and will be final, binding and conclusive on all persons.

       

      (e)        Repricing; Cancellation and Re-Grant of Awards.  Neither the Board nor any Committee will
        have the authority to reduce the exercise, purchase or strike price of any outstanding Option or SAR, unless the stockholders of the Company have approved such an action within twelve (12) months prior to such an event.

       

      
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      3.           Shares Subject to this Plan.

       

      (a)         Share Reserve.  Subject to Section 9(a) relating to Capitalization Adjustments, the aggregate number of shares of Common Stock that may be issued pursuant to Awards will not exceed
        325,258 shares (the “Share Reserve”).  No Participant in the Plan may be granted an Award during the term of the Plan in excess of the Share Reserve.  For clarity, the Share Reserve is a
        limitation in the number of shares of Common Stock that may be issued pursuant to the Plan and does not limit the granting of Awards except as provided in Section 7(a).  Shares may be issued in connection with a merger or acquisition as permitted
        by Nasdaq Marketplace Rule 5635(c) or, if applicable NYSE Listed Company Manual Section 303A.08, AMEX Company Guide Section 711 or other applicable rule, and such issuance will not reduce the number of shares available for issuance under this Plan.

       

      (b)       Reversion of Shares to the Share Reserve. If an Award or any portion thereof (i) expires
        or otherwise terminates without all of the shares covered by such Award having been issued or (ii) is settled in cash (i.e., the Participant receives cash rather than stock), such expiration, termination or
        settlement will not reduce (or otherwise offset) the number of shares of Common Stock that may be available for issuance under this Plan.  If any shares of Common Stock issued pursuant to an Award are forfeited back to or repurchased or reacquired
        by the Company for any reason, including because of the failure to meet a contingency or condition required to vest such shares in the Participant, then the shares that are forfeited or repurchased or reacquired will revert to and again become
        available for issuance under this Plan.  Any shares reacquired by the Company in satisfaction of tax withholding obligations on an Award or as consideration for the exercise or purchase price of an Award will again become available for issuance
        under this Plan.

       

      (c)         Source of Shares.  The stock issuable under this Plan will be shares of authorized but
        unissued or reacquired Common Stock, including shares repurchased by the Company on the open market or otherwise.

       

      4.           Eligibility.

       

      (a)       Eligibility for Specific Awards.  Awards may only be granted to persons who are Eligible
        Employees described in Section 1(a) of this Plan, where the Award is an inducement material to the individual’s entering into employment with the Company or an Affiliate within the meaning of Rule 5635(c)(4) of the Nasdaq Marketplace Rules
        or is otherwise permitted pursuant to Rule 5635(c) of the Nasdaq Marketplace Rules, provided, however, that Awards may not be granted to Eligible Employees who are providing Continuous Service only to any
        “parent” of the Company, as such term is defined in Rule 405 of the Securities Act, unless (i) the stock underlying such Awards is treated as “service recipient stock” under Section 409A of the Code (for example, because the Awards are granted
        pursuant to a corporate transaction such as a spin off transaction), (ii) the Company, in consultation with its legal counsel, has determined that such Awards are otherwise exempt from Section 409A of the Code, or (iii) the Company, in consultation
        with its legal counsel, has determined that such Awards comply with the distribution requirements of Section 409A of the Code.

       

      
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      (b)       Approval Requirements. All Awards must
        be granted either by a majority of the Company’s independent directors or the Independent Compensation Committee.

       

      5.          Provisions
          relating to Options and Stock Appreciation Rights.  Each Option or SAR will be in such form and will contain such terms and conditions as the Board deems appropriate. All Options will be Nonstatutory Stock Options at the time of grant.
        The provisions of separate Options or SARs need not be identical; provided, however, that each Award Agreement will conform to (through incorporation of provisions hereof by reference in the applicable
        Award Agreement or otherwise) the substance of each of the following provisions:

       

      (a)          Term.  No Option or SAR will be exercisable after the expiration of 10 years from the
        date of its grant or such shorter period specified in the Award Agreement.

       

      (b)        Exercise Price.  The exercise or strike price of each Option or SAR will be not less than
        100% of the Fair Market Value of the Common Stock subject to the Option or SAR on the date the Award is granted. Notwithstanding the foregoing, an Option or SAR may be granted with an exercise or strike price lower than 100% of the Fair Market
        Value of the Common Stock subject to the Award if such Award is granted pursuant to an assumption of or substitution for another option or stock appreciation right pursuant to a Corporate Transaction and in a manner consistent with the provisions
        of Section 409A of the Code.  Each SAR will be denominated in shares of Common Stock equivalents.

       

      (c)        Purchase Price for Options.  The purchase price of Common Stock acquired
        pursuant to the exercise of an Option may be paid, to the extent permitted by applicable law and as determined by the Board in its sole discretion, by any combination of the methods of payment set forth below.  The Board will have the authority to
        grant Options that do not permit all of the following methods of payment (or otherwise restrict the ability to use certain methods) and to grant Options that require the consent of the Company to use a particular method of payment.  The permitted
        methods of payment are as follows:

       

      (i)           by cash, check, bank draft or money order payable to the Company;

       

      (ii)          pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of
        the stock subject to the Option, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds;

       

      (iii)          by delivery to the Company (either by actual delivery or attestation) of shares of Common Stock;

       

      (iv)          by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Common Stock issuable upon
        exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price; provided, however, that the Company will accept a cash or other payment from the
        Participant to the extent of any remaining balance of the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued.  Shares of Common Stock will no longer be subject to an Option and will not be
        exercisable thereafter to the extent that (A) shares issuable upon exercise are used to pay the exercise price pursuant to the “net exercise,” (B) shares are delivered to the Participant as a result of such exercise, and (C) shares are withheld to
        satisfy tax withholding obligations;  or

       

      
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      (v)         in any other form of legal consideration that may be acceptable to the Board and specified in the applicable Award Agreement.

       

      (d)        Exercise and Payment of a SAR.  To exercise any outstanding SAR, the Participant must
        provide written notice of exercise to the Company in compliance with the provisions of the Stock Appreciation Right Agreement evidencing such SAR.  The appreciation distribution payable on the exercise of a SAR will be not greater than an amount
        equal to the excess of (A) the aggregate Fair Market Value (on the date of the exercise of the SAR) of a number of shares of Common Stock equal to the number of Common Stock equivalents in which the Participant is vested under such SAR, and with
        respect to which the Participant is exercising the SAR on such date, over (B) the aggregate strike price of the number of Common Stock equivalents with respect to which the Participant is exercising the SAR on such date.  The appreciation distribution may be paid in Common Stock, in cash, in any combination of the two or in any other form of consideration, as determined by the Board and contained in the Award Agreement
        evidencing such SAR.

       

      (e)         Transferability of Options and SARs.  The Board may, in its sole discretion, impose such
        limitations on the transferability of Options and SARs as the Board will determine.  In the absence of such a determination by the Board to the contrary, the following restrictions on the transferability of Options and SARs will apply:

       

      (i)           Restrictions on Transfer.  An Option or SAR will not be transferable except by will
        or by the laws of descent and distribution (or pursuant to subsections (ii) and (iii) below), and will be exercisable during the lifetime of the Participant only by the Participant.  The Board may permit transfer of the Option or SAR in a manner
        that is not prohibited by applicable tax and securities laws. Except as explicitly provided in this Plan, neither an Option nor a SAR may be transferred for consideration.

       

      (ii)         Domestic Relations Orders.  Subject to the approval of the Board or a duly authorized
        Officer, an Option or SAR may be transferred pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument.

       

      (iii)       Beneficiary Designation.  Subject to the approval of the Board or a duly authorized
        Officer, a Participant may, by delivering written notice to the Company, in a form approved by the Company (or the designated broker), designate a third party who, on the death of the Participant, will thereafter be entitled to exercise the Option
        or SAR and receive the Common Stock or other consideration resulting from such exercise.  In the absence of such a designation, upon the death of the Participant the executor or administrator of the Participant’s estate will be entitled to exercise
        the Option or SAR and receive the Common Stock or other consideration resulting from such exercise. However, the Company may prohibit designation of a beneficiary at any time, including due to any conclusion by the Company that such designation
        would be inconsistent with the provisions of applicable laws.

       

      
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      (f)         Vesting Generally.  The total number of shares of Common Stock subject to an
        Option or SAR may vest and become exercisable in periodic installments that may or may not be equal.  The Option or SAR may be subject to such other terms and conditions on the time or times when it may or may not be exercised (which may be based
        on the satisfaction of Performance Goals or other criteria) as the Board may deem appropriate.  The vesting provisions of individual Options or SARs may vary.  The provisions of this Section 5(f) are subject to any Option or SAR provisions
        governing the minimum number of shares of Common Stock as to which an Option or SAR may be exercised.

       

      (g)        Termination of Continuous Service.  Except as otherwise provided in the applicable Award Agreement or
        other agreement between the Participant and the Company, if a Participant’s Continuous Service terminates (other than for Cause and other than upon the Participant’s death or Disability), the Participant may exercise his or her Option or SAR (to
        the extent that the Participant was entitled to exercise such Award as of the date of termination of Continuous Service) within the period of time ending on the earlier of (i) the date that is three (3) months following the termination of the
        Participant’s Continuous Service (or such longer or shorter period specified in the applicable Award Agreement, which period will not be less than thirty (30) days if necessary to comply with applicable laws unless such termination is for Cause)
        and (ii) the expiration of the term of the Option or SAR as set forth in the Award Agreement.  If, after termination of Continuous Service, the Participant does not exercise his or her Option or SAR (as applicable) within the applicable time frame,
        the Option or SAR will terminate.

       

      (h)        Extension of Termination Date.  Except as otherwise provided in the applicable
        Award Agreement or other written agreement between the Participant and the Company, if the exercise of an Option or SAR following the termination of the Participant’s Continuous Service (other than for Cause and other than upon the Participant’s
        death or Disability) would be prohibited at any time solely because the issuance of shares of Common Stock would violate the registration requirements under the Securities Act, then the Option or SAR will terminate on the earlier of (i) the
        expiration of a total period of time (that need not be consecutive) equal to the applicable post-termination exercise period after the termination of the Participant’s Continuous Service during which the exercise of the Option or SAR would not be
        in violation of such registration requirements, and (ii) the expiration of the term of the Option or SAR as set forth in the applicable Award Agreement.  In addition, unless otherwise provided in a
        Participant’s Award Agreement, if the sale of any Common Stock received on exercise of an Option or SAR following the termination of the Participant’s Continuous Service (other than for Cause) would violate the Company’s insider trading policy,
        then the Option or SAR will terminate on the earlier of (i) the expiration of a period of months (that need not be consecutive) equal to the applicable post-termination exercise period after the termination of the Participant’s Continuous Service
        during which the sale of the Common Stock received upon exercise of the Option or SAR would not be in violation of the Company’s insider trading policy, or (ii) the expiration of the term of the Option or SAR as set forth in the applicable Award
        Agreement.

       

      
        7

        
          

      

      (i)        Disability of Participant.  Except as otherwise provided in the applicable Award
        Agreement or other agreement between the Participant and the Company, if a Participant’s Continuous Service terminates as a result of the Participant’s Disability, the Participant may exercise his or her Option or SAR (to the extent that the
        Participant was entitled to exercise such Option or SAR as of the date of termination of Continuous Service), but only within such period of time ending on the earlier of (i) the date twelve (12) months following such termination
        of Continuous Service (or such longer or shorter period specified in the Award Agreement, which period will not be less than six (6) months if necessary to comply with applicable laws) and (ii) the expiration of the term of the Option or SAR as set
        forth in the Award Agreement.  If, after termination of Continuous Service, the Participant does not exercise his or her Option or SAR within the applicable time frame, the Option or SAR (as applicable) will terminate. 

       

      (j)         Death of Participant.  Except as otherwise provided in the applicable Award
        Agreement or other agreement between the Participant and the Company, if (i) a Participant’s Continuous Service terminates as a result of the Participant’s death, or (ii) the Participant dies within the period (if any) specified in the Award
        Agreement for exercisability after the termination of the Participant’s Continuous Service for a reason other than death, then the Option or SAR may be exercised (to the extent the Participant was entitled to exercise such Option or SAR as of the
        date of death) by the Participant’s estate, by a person who acquired the right to exercise the Option or SAR by bequest or inheritance or by a person designated to exercise the Option or SAR upon the Participant’s death, but only within the period
        ending on the earlier of (i) the date eighteen (18) months following the date of death (or such longer or shorter period specified in the Award Agreement, which period will not be less than six (6) months if necessary to
        comply with the applicable laws) and (ii) the expiration of the term of such Option or SAR as set forth in the Award Agreement.  If, after the Participant’s death, the Option or SAR is not exercised within the applicable time frame, the Option or
        SAR (as applicable) will terminate.

       

      (k)         Termination for Cause.  Except as explicitly provided otherwise in a Participant’s Award
        Agreement or other individual written agreement between the Company or any Affiliate and the Participant, if a Participant’s Continuous Service is terminated for Cause, the Option or SAR will terminate immediately upon such
        Participant’s termination of Continuous Service, and the Participant will be prohibited from exercising his or her Option or SAR from and after the time of such termination of Continuous Service.

       

      (l)          Non-Exempt Employees.  If an Option or SAR is granted to an Employee who is a non-exempt
        employee for purposes of the Fair Labor Standards Act of 1938, as amended, the Option or SAR will not be first exercisable for any shares of Common Stock until at least six (6) months following the date of grant of the Option or SAR (although the
        Award may vest prior to such date). Consistent with the provisions of the Worker Economic Opportunity Act, (i) if such non-exempt Employee dies or suffers a Disability, (ii) upon a Corporate Transaction in which such Option or SAR is not assumed,
        continued, or substituted, (iii) upon a Change in Control, or (iv) upon the Participant’s retirement (as such term may be defined in the Participant’s Award Agreement, in another agreement between the Participant and the Company, or, if no such
        definition, in accordance with the Company’s then current employment policies and guidelines), the vested portion of any Options and SARs may be exercised earlier than six (6) months following the date of
        grant.  The foregoing provision is intended to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option or SAR will be exempt from his or her regular rate of pay. To the extent permitted
        and/or required for compliance with the Worker Economic Opportunity Act to ensure that any income derived by a non-exempt employee in connection with the exercise, vesting or issuance of any shares under any other Award will be exempt from the
        employee’s regular rate of pay, the provisions of this Section 5(l) will apply to all Awards and are hereby incorporated by reference into such Award Agreements.

       

      
        8

        
          

      

      6.           Provisions
          of Awards Other than Options and SARs.

       

      (a)        Restricted Stock Awards.  Each Restricted Stock Award
        Agreement will be in such form and will contain such terms and conditions as the Board deems appropriate.  To the extent consistent with the Company’s bylaws, at the Board’s election, shares of Common Stock
        may be (i) held in book entry form subject to the Company’s instructions until any restrictions relating to the Restricted Stock Award lapse; or (ii) evidenced by a certificate, which certificate will be held in such form and manner as determined
        by the Board.  The terms and conditions of Restricted Stock Award Agreements may change from time to time, and the terms and conditions of separate Restricted Stock Award Agreements need not be identical.  Each
        Restricted Stock Award Agreement will conform to (through incorporation of the provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions:

       

      (i)          Consideration.  A Restricted Stock Award may be awarded in consideration for (A) cash,
        check, bank draft or money order payable to the Company, (B) past or future services to the Company or an Affiliate, or (C) any other form of legal consideration that may be acceptable to the Board, in its sole discretion, and permissible under
        applicable law.

       

      (ii)         Vesting.  Shares of Common Stock awarded under the Restricted Stock Award Agreement
        may be subject to forfeiture to the Company in accordance with a vesting schedule to be determined by the Board.

       

      (iii)        Termination of Participant’s Continuous Service.  If a Participant’s Continuous
        Service terminates, the Company may receive through a forfeiture condition or a repurchase right any or all of the shares of Common Stock held by the Participant as of the date of termination of Continuous Service under the terms of the Restricted
        Stock Award Agreement.

       

      (iv)       Transferability.  Rights to acquire shares of Common Stock under the Restricted Stock
        Award Agreement will be transferable by the Participant only upon such terms and conditions as are set forth in the Restricted Stock Award Agreement, as the Board will determine in its sole discretion, so long as Common Stock awarded under the
        Restricted Stock Award Agreement remains subject to the terms of the Restricted Stock Award Agreement.

       

      (v)          Dividends.  A Restricted Stock Award Agreement may provide that any dividends paid on
        Restricted Stock will be subject to the same vesting and forfeiture restrictions as apply to the shares subject to the Restricted Stock Award to which they relate.

       

      
        9

        
          

      

      (b)        Restricted Stock Unit Awards.  Each Restricted Stock Unit Award Agreement
        will be in such form and will contain such terms and conditions as the Board deems appropriate.  The terms and conditions of Restricted Stock Unit Award Agreements may change from time to time, and the terms and conditions of separate Restricted
        Stock Unit Award Agreements need not be identical.  Each Restricted Stock Unit Award Agreement will conform to (through incorporation of the provisions hereof by reference in the Agreement or otherwise) the substance of each of the following
        provisions:

       

      (i)          Consideration.  At the time of grant of a Restricted Stock Unit Award, the
        Board will determine the consideration, if any, to be paid by the Participant upon delivery of each share of Common Stock subject to the Restricted Stock Unit Award.  The consideration to be paid (if any) by the Participant for each share of Common
        Stock subject to a Restricted Stock Unit Award may be paid in any form of legal consideration that may be acceptable to the Board, in its sole discretion, and permissible under applicable law.

       

      (ii)        Vesting.  At the time of the grant of a Restricted Stock Unit Award, the Board
        may impose such restrictions on or conditions to the vesting of the Restricted Stock Unit Award as it, in its sole discretion, deems appropriate.

       

      (iii)        Payment.  A Restricted Stock Unit Award may be settled by the delivery of
        shares of Common Stock, their cash equivalent, any combination thereof or in any other form of consideration, as determined by the Board and contained in the Restricted Stock Unit Award Agreement.

       

      (iv)         Additional Restrictions.  At the time of the grant of a Restricted Stock Unit
        Award, the Board, as it deems appropriate, may impose such restrictions or conditions that delay the delivery of the shares of Common Stock (or their cash equivalent) subject to a Restricted Stock Unit Award to a time after the vesting of such
        Restricted Stock Unit Award.

       

      (v)          Dividend Equivalents.  Dividend equivalents may be credited in respect of shares of Common Stock
        covered by a Restricted Stock Unit Award, as determined by the Board and contained in the Restricted Stock Unit Award Agreement.  At the sole discretion of the Board, such dividend equivalents may be converted into additional shares of Common Stock
        covered by the Restricted Stock Unit Award in such manner as determined by the Board.  Any additional shares covered by the Restricted Stock Unit Award credited by reason of such dividend equivalents will be subject to all of the same terms and
        conditions of the underlying Restricted Stock Unit Award Agreement to which they relate.

       

      (vi)         Termination of Participant’s Continuous Service.  Except
        as otherwise provided in the applicable Restricted Stock Unit Award Agreement or other written agreement between a Participant and the Company or an Affiliate, such portion of the Restricted Stock Unit Award that has not vested will be forfeited
        upon the Participant’s termination of Continuous Service.

       

      (c)         Performance Awards.

       

      
        10

        
          

      

      (i)          Performance
          Stock Awards.  A Performance Stock Award is an Award that is payable (including that may be granted, may vest or may be exercised) contingent upon the attainment during a Performance Period of certain Performance Goals.  A Performance
        Stock Award may, but need not, require the Participant’s completion of a specified period of Continuous Service. The length of any Performance Period, the Performance Goals to be achieved during the Performance Period, and the measure of whether
        and to what degree such Performance Goals have been attained will be conclusively determined by the Board or Committee, in its sole discretion.  In addition, to the extent permitted by applicable law and the applicable Award Agreement, the Board or
        the Committee may determine that cash may be used in payment of Performance Stock Awards.

       

      (ii)          Performance Cash Awards.  A Performance Cash Award is a cash award that is payable
        contingent upon the attainment during a Performance Period of certain Performance Goals.  A Performance Cash Award may also require the completion of a specified period of Continuous Service.  At the time of grant of a Performance Cash Award, the
        length of any Performance Period, the Performance Goals to be achieved during the Performance Period, and the measure of whether and to what degree such Performance Goals have been attained will be conclusively determined by the Board or Committee,
        in its sole discretion.  The Board or Committee may specify the form of payment of Performance Cash Awards, which may be cash or other property, or may provide for a Participant to have the option for his or her Performance Cash Award, or such
        portion thereof as the Board may specify, to be paid in whole or in part in cash or other property.

       

      (iii)         Discretion.  A majority of the Company’s
        Independent Directors or the Independent Compensation Committee retains the discretion to adjust or eliminate the compensation or economic benefit due upon attainment of Performance Goals and to define the
        manner of calculating the Performance Criteria it selects to use for a Performance Period.  Partial achievement of the specified criteria may result in the payment or vesting corresponding to the degree of achievement as specified in the Award
        Agreement or the written terms of a Performance Cash Award.

       

      (d)        Other Stock Awards.  Other forms of Stock Awards valued in whole or in part
        by reference to, or otherwise based on, Common Stock, including the appreciation in value thereof (e.g., options or stock rights with an exercise price or strike price less than 100% of the Fair Market Value of the Common Stock at the time of
        grant) may be granted either alone or in addition to Awards provided for under Section 5 and the preceding provisions of this Section 6.  Subject to the provisions of this Plan, a majority of the Company’s Independent Directors or
        the Independent Compensation Committee will have sole and complete authority to determine the persons to whom and the time or times at which such Other Stock Awards will be granted, the number of shares of Common Stock (or the cash equivalent
        thereof) to be granted pursuant to such Other Stock Awards and all other terms and conditions of such Other Stock Awards.

       

      7.           Covenants of the Company.

       

      (a)         Availability of Shares.  The Company will keep available at all times the
        number of shares of Common Stock reasonably required to satisfy then-outstanding Awards.

       

      
        11

        
          

      

      (b)        Securities Law Compliance.  The Company will seek to obtain from each regulatory
        commission or agency having jurisdiction over this Plan, as necessary, such authority as may be required to grant Awards and to issue and sell shares of Common Stock upon exercise or vesting of the Awards; provided,
          however, that this undertaking will not require the Company to register under the Securities Act, or other securities or applicable laws, this Plan, any Award or any Common Stock issued or issuable pursuant to any such Award.  If, after
        reasonable efforts and at a reasonable cost, the Company is unable to obtain from any such regulatory commission or agency the authority that counsel for the Company deems necessary or advisable for the lawful issuance and sale of Common Stock
        under this Plan, the Company will be relieved from any liability for failure to issue and sell Common Stock upon exercise or vesting of such Awards unless and until such authority is obtained. A Participant will not be eligible for the grant of an
        Award or the subsequent issuance of cash or Common Stock pursuant to the Award if such grant or issuance would be in violation of any applicable securities law.

       

      (c)         No Obligation to Notify or Minimize Taxes.  The Company will have no duty or obligation
        to any Participant to advise such holder as to the tax treatment or time or manner of exercising such Award.  Furthermore, the Company will have no duty or obligation to warn or otherwise advise such holder of a pending termination or expiration of
        an Award or a possible period in which the Award may not be exercised.  The Company has no duty or obligation to minimize the tax consequences of an Award to the holder of such Award.

       

      8.           Miscellaneous.

        

      

      (a)         Use of Proceeds from Sales of Common Stock.  Proceeds from the sale of shares of Common
        Stock pursuant to Awards will constitute general funds of the Company.

       

      (b)        Corporate Action Constituting Grant of Awards.  Corporate action constituting a grant by
        the Company of an Award to any Participant will be deemed completed as of the date of such corporate action, unless otherwise determined by the Board, regardless of when the instrument, certificate, or letter evidencing the Award is communicated
        to, or actually received or accepted by, the Participant.  In the event that the corporate records (e.g., Board consents, resolutions or minutes) documenting the corporate action approving the grant contain terms (e.g., exercise price, vesting
        schedule or number of shares) that are inconsistent with those in the Award Agreement or related grant documents as a result of a clerical error in the papering of the Award Agreement or related grant documents, the corporate records will control
        and the Participant will have no legally binding right to the incorrect term in the Award Agreement or related grant documents.

       

      (c)         Stockholder Rights.  No Participant will be deemed to be the holder of, or to have any
        of the rights of a holder with respect to, any shares of Common Stock subject to an Award unless and until (i) such Participant has satisfied all requirements for exercise of, or the issuance of shares of Common Stock under, the Award pursuant to
        its terms, and (ii) the issuance of the Common Stock subject to such Award has been entered into the books and records of the Company.

       

      (d)       No Employment or Other Service Rights. Nothing in this Plan,
          any Award Agreement or any other instrument executed thereunder or in connection with any Award granted pursuant thereto will confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect
        at the time the Award was granted or will affect the right of the Company or an Affiliate to terminate (i) the employment of an Employee with or without notice and with or without cause, (ii) the service of a Consultant pursuant to the terms of
        such Consultant’s agreement with the Company or an Affiliate, or (iii) the service of a Director pursuant to the bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state or foreign jurisdiction in which
        the Company or the Affiliate is domiciled or incorporated, as the case may be.

       

      
        12

        
          

      

      (e)      Change in Time Commitment.  In the event a Participant’s regular level of time commitment
        in the performance of his or her services for the Company and any Affiliates is reduced (for example, and without limitation, if the Participant is an Employee of the Company and the Employee has a change in status from a full-time Employee to a
        part-time Employee or takes an extended leave of absence) after the date of grant of any Award to the Participant, the Board has the right in its sole discretion to (x) make a corresponding reduction in the number of shares or cash amount subject
        to any portion of such Award that is scheduled to vest or become payable after the date of such change in time commitment, and (y) in lieu of or in combination with such a reduction, extend the vesting or payment schedule applicable to such Award.
        In the event of any such reduction, the Participant will have no right with respect to any portion of the Award that is so reduced or extended.

       

      (f)         Investment Assurances.  The Company may require a Participant, as a condition of
        exercising or acquiring Common Stock under any Award, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in financial and business matters and/or to employ a purchaser representative
        reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business matters and that such Participant is capable of evaluating, alone or together with the purchaser representative, the merits and risks of
        exercising the Award; and (ii) to give written assurances satisfactory to the Company stating that the Participant is acquiring Common Stock subject to the Award for the Participant’s own account and not with any present intention of selling or
        otherwise distributing the Common Stock.  The foregoing requirements, and any assurances given pursuant to such requirements, will be inoperative if (A) the issuance of the shares upon the exercise or acquisition of Common Stock under the Award has
        been registered under a then currently effective registration statement under the Securities Act, or (B) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances
        under the then applicable securities laws.  The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under this Plan as such counsel deems necessary or appropriate in order to comply with applicable
        securities laws, including, but not limited to, legends restricting the transfer of the Common Stock.

       

      (g)         Withholding Obligations.  Unless prohibited by the terms of an Award
        Agreement, the Company may, in its sole discretion, satisfy any federal, state or local tax withholding obligation relating to an Award by any of the following means or by a combination of such means: (i) causing the Participant to tender a cash
        payment; (ii)  withholding shares of Common Stock from the shares of Common Stock issued or otherwise issuable to the Participant in connection with the Award; provided, however, that no shares of Common
        Stock are withheld with a value exceeding the maximum amount of tax required to be withheld by law (or such lesser amount as may be necessary to avoid classification of the Award as a liability for financial accounting purposes); (iii) withholding
        cash from an Award settled in cash; (iv) withholding payment from any amounts otherwise payable to the Participant; or (v) by such other method as may be set forth in the Award Agreement.

       

      
        13

        
          

      

      (h)         Electronic Delivery.  Any reference herein to a “written” agreement or document will
        include any agreement or document delivered electronically, filed publicly at www.sec.gov (or any successor website thereto) or posted on the Company’s intranet (or other shared electronic medium controlled by the Company to which the Participant
        has access).

       

      (i)          Deferrals.  To the extent permitted by applicable law, the Board, in its sole
        discretion, may determine that the delivery of Common Stock or the payment of cash, upon the exercise, vesting or settlement of all or a portion of any Award may be deferred and may establish programs and procedures for deferral elections to be
        made by Participants.  Deferrals by Participants will be made in accordance with Section 409A of the Code. Consistent with Section 409A of the Code, the Board may provide for distributions while a Participant is still an employee or otherwise
        providing services to the Company.  The Board is authorized to make deferrals of Awards and determine when, and in what annual percentages, Participants may receive payments, including lump sum payments, following the Participant’s termination of
        Continuous Service, and implement such other terms and conditions consistent with the provisions of this Plan and in accordance with applicable law.

       

      (j)       Compliance with Section 409A of the Code.  Unless otherwise expressly provided for in an
        Award Agreement, this Plan and Award Agreements will be interpreted to the greatest extent possible in a manner that makes this Plan and the Awards granted hereunder exempt from Section 409A of the Code, and, to the extent not so exempt, in
        compliance with Section 409A of the Code.  If the Board determines that any Award granted hereunder is not exempt from and is therefore subject to Section 409A of the Code, the Award Agreement evidencing such Award will incorporate the terms and
        conditions necessary to avoid the consequences specified in Section 409A(a)(1) of the Code, and to the extent an Award Agreement is silent on terms necessary for compliance, such terms are hereby incorporated by reference into the Award Agreement. 
        Notwithstanding anything to the contrary in this Plan (and unless the Award Agreement specifically provides otherwise), if the shares of Common Stock are publicly traded, and if a Participant holding an Award that constitutes “deferred
        compensation” under Section 409A of the Code is a “specified employee” for purposes of Section 409A of the Code, no distribution or payment of any amount that is due because of a “separation from service” (as defined in Section 409A of the Code
        without regard to alternative definitions thereunder) will be issued or paid before the date that is six months following the date of such Participant’s “separation from service” (as defined in Section 409A of the Code without regard to alternative
        definitions thereunder) or, if earlier, the date of the Participant’s death, unless such distribution or payment can be made in a manner that complies with Section 409A of the Code, and any amounts so deferred will be paid in a lump sum on the day
        after such six month period elapses, with the balance paid thereafter on the original schedule.  Notwithstanding any provision of this Plan, in no event will the Company be liable for any additional tax, interest or penalty imposed upon or other
        detriment suffered by a Participant under Section 409A of the Code or for any damages suffered by such Participant for any failure of this Plan or any Award to comply with or be exempt from Section 409A of the Code.

       

      
        14

        
          

      

      (k)        Clawback/Recovery.  All Awards granted under this Plan will be subject to
        recoupment in accordance with any clawback policy that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by
        the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law. In addition, the Board may impose such other clawback, recovery or recoupment provisions in an Award Agreement as the Board determines necessary or appropriate,
        including but not limited to a reacquisition right in respect of previously acquired shares of Common Stock or other cash or property upon the occurrence of an event constituting Cause. No recovery of compensation under such a clawback policy will
        be an event giving rise to a right to voluntary terminate employment upon “resignation” for “good reason” or for a “constructive termination” or any similar term under any plan of or agreement with the Company.

       

      (l)         Not Benefit Plan Compensation.  Payments and other benefits received by a Participant under an Award
        made pursuant to this Plan will not be deemed a part of Participant’s compensation for purposes of determining the Participant’s benefits under any other benefit plans or arrangements provided by the Company or an Affiliate, except where the Board
        expressly provides otherwise in writing.

       

      9.           Adjustments upon Changes in Common Stock; Other Corporate
          Events.

       

      (a)        Capitalization Adjustments.  In the event of a
        Capitalization Adjustment, the Board will appropriately and proportionately adjust: (i) the class(es) and maximum number of securities subject to this Plan pursuant to Section 3(a); and (ii) the class(es) and number of securities and price
        per share of stock subject to outstanding Awards.  The Board will make such adjustments, and its determination will be final, binding and conclusive.

       

      (b)       Dissolution.  Except as otherwise provided in the Award Agreement, in the event of a
        Dissolution of the Company, all outstanding Awards (other than Awards consisting of vested and outstanding shares of Common Stock not subject to a forfeiture condition or the Company’s right of repurchase) will terminate immediately prior to the
        completion of such Dissolution, and the shares of Common Stock subject to the Company’s repurchase rights or subject to a forfeiture condition may be repurchased or reacquired by the Company notwithstanding the fact that the holder of such Award is
        providing Continuous Service; provided, however, that the Board may, in its sole discretion, cause some or all Awards to become fully vested, exercisable and/or no longer subject to repurchase or forfeiture
        (to the extent such Awards have not previously expired or terminated) before the Dissolution is completed but contingent on its completion.

       

      (c)        Transaction.  The following provisions will apply to Awards in the event of a Transaction
        unless otherwise provided in the instrument evidencing the Award or any other written agreement between the Company or any Affiliate and the Participant or unless otherwise expressly provided by the Board at the time of grant of an Award.  In the
        event of a Transaction, then, notwithstanding any other provision of this Plan, the Board may take one or more of the following actions with respect to Awards, contingent upon the closing or completion of the Transaction:

       

      
        15

        
          

      

      (i)       arrange for the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) to
        assume or continue the Award or to substitute a similar stock award for the Award (including, but not limited to, an award to acquire the same consideration paid to the stockholders of the Company pursuant to the Transaction);

       

      (ii)          arrange for the assignment of any reacquisition or repurchase rights held by the Company in respect of Common Stock issued
        pursuant to the Award to the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company);

       

      (iii)        accelerate the vesting, in whole or in part, of the Award (and, if applicable, the time at which the Award may be
        exercised) to a date prior to the effective time of such Transaction as the Board determines (or, if the Board does not determine such a date, to the date that is five days prior to the effective date of the Transaction), with such Award
        terminating if not exercised (if applicable) at or prior to the effective time of the Transaction; provided, however, that the Board may require Participants to complete and deliver to the Company a notice of exercise before the effective date of a
        Transaction, which exercise is contingent upon the effectiveness of such Transaction;

       

      (iv)       arrange for the lapse, in whole or in part, of any reacquisition or repurchase rights held by the Company with respect to the
        Award;

       

      (v)          cancel or arrange for the cancellation of the Award, to the extent not vested or not exercised prior to the effective time of
        the Transaction, in exchange for such cash consideration, if any, as the Board, in its sole discretion, may consider appropriate; and

       

      (vi)         make a payment, in such form as may be determined by the Board equal to the excess, if any, of (A) the value of the property
        the Participant would have received upon the exercise of the Award immediately prior to the effective time of the Transaction, over (B) any exercise price payable by such holder in connection with such exercise.  For clarity, this payment may be $0
        if the value of the property is equal to or less than the exercise price.  Payments under this provision may be delayed to the same extent that payment of consideration to the holders of the Company’s Common Stock in connection with the Transaction
        is delayed as a result of escrows, earn outs, holdbacks or other contingencies.

       

      The Board need not take the same action or actions with respect to all Awards or portions thereof or with respect to all Participants. The Board may take different actions with respect to the vested and unvested
        portions of an Award.

       

      (d)        Change in Control.  An Award may be subject to additional acceleration of vesting and
        exercisability upon or after a Change in Control as may be provided in the Award Agreement for such Award or as may be provided in any other written agreement between the Company or any Affiliate and the Participant, but in the absence of such
        provision, no such acceleration will automatically occur.

       

      10.        Termination or Suspension of this Plan. The Board
        may suspend or terminate this Plan at any time. No Awards may be granted under this Plan while this Plan is suspended or after it is terminated.

       

      
        16

        
          

      

      11.         Effective Date of this Plan. This Plan will come
        into existence on the Effective Date.

       

      12.         Choice of Law.  The laws of the
        State of Delaware will govern all questions concerning the construction, validity and interpretation of this Plan, without regard to that state’s conflict of laws rules.

       

      13.         Definitions.  As used in this Plan, the following definitions
        will apply to the capitalized terms indicated below:

       

      (a)        “Affiliate” means, at the time of determination, any “parent” or
        “subsidiary” of the Company as such terms are defined in Rule 405 of the Securities Act.  The Board will have the authority to determine the time or times at which “parent” or “subsidiary” status is determined within the foregoing definition.

       

      (b)       “Award” means an Option, a Stock Appreciation Right, a Restricted Stock Award, a
        Restricted Stock Unit Award, a Performance Stock Award, a Performance Cash Award or an Other Stock Award.

       

      (c)        “Award Agreement” means a written agreement between the Company and a Participant
        evidencing the terms and conditions of an Award.

       

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

       

      (e)         “Capitalization Adjustment” means any change that is made in, or other events that
        occur with respect to, the Common Stock subject to this Plan or subject to any Award after the Effective Date without the receipt of consideration by the Company through merger, consolidation, reorganization, recapitalization, reincorporation,
        stock dividend, dividend in property other than cash, large nonrecurring cash dividend, stock split, reverse stock split liquidating dividend, combination of shares, exchange of shares, change in corporate structure or any similar equity
        restructuring transaction, as that term is used in Statement of Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto).  Notwithstanding the foregoing, the conversion of any convertible
        securities of the Company will not be treated as a Capitalization Adjustment.

       

      (f)          “Cause” shall have the meaning ascribed to such term in any written
        agreement between the Participant and the Company defining such term and, in the absence of such agreement, such term means, with respect to a Participant, the occurrence of any of the following events:  (i) such Participant’s commission of any
        felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof; (ii) such Participant’s attempted commission of, or participation in, a fraud or act of dishonesty against the Company;
        (iii) such Participant’s intentional, material violation of any contract or agreement between the Participant and the Company or of any statutory duty owed to the Company; (iv) such Participant’s unauthorized use or disclosure of the Company’s
        confidential information or trade secrets; or (v) such Participant’s gross misconduct. The determination that a termination of the Participant’s Continuous Service is either for Cause or without Cause shall be made by the Company, in its sole
        discretion.  Any determination by the Company that the Continuous Service of a Participant was terminated with or without Cause for the purposes of outstanding Awards held by such Participant shall have no effect upon any determination of the
        rights or obligations of the Company or such Participant for any other purpose.

       

      
        17

        
          

      

      (g)         “Change in Control” means the occurrence, in a single transaction or
        in a series of related transactions, of any one or more of the following events:

       

      (i)          any Exchange Act Person becomes the Owner, directly or indirectly, of securities of the Company representing more than 50% of
        the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar transaction. Notwithstanding the foregoing, a Change in Control will not be deemed to occur (A) on account of the
        acquisition of securities of the Company directly from the Company; (B) on account of the acquisition of securities of the Company by an investor, any affiliate thereof or any other Exchange Act Person that acquires the Company’s securities in a
        transaction or series of related transactions the primary purpose of which is to obtain financing for the Company through the issuance of equity securities; or (C) solely because the level of Ownership held by any Exchange Act Person (the “Subject Person”) exceeds the designated percentage threshold of the outstanding voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing
        the number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and after such share acquisition, the Subject Person
        becomes the Owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then outstanding voting securities Owned by the Subject Person over the designated percentage
        threshold, then a Change in Control will be deemed to occur;

       

      (ii)          there is consummated a merger, consolidation or similar transaction involving (directly or indirectly) the Company and,
        immediately after the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto do not Own, directly or indirectly, either (A) outstanding voting securities representing more than
        50% of the combined outstanding voting power of the surviving Entity in such merger, consolidation or similar transaction or (B) more than 50% of the combined outstanding voting power of the parent of the surviving Entity in such merger,
        consolidation or similar transaction, in each case in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such transaction;

       

      (iii)         there is consummated a sale, lease, exclusive license or other disposition of all or substantially all of the consolidated
        assets of the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries to an Entity, more than fifty percent (50%) of the
        combined voting power of the voting securities of which are Owned by stockholders of the Company in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such sale, lease,
        license or other disposition; or

       

      
        18

        
          

      

      (iv)       individuals who, on the date this Plan is adopted by the Board, are members of the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the members of the Board; provided, however, that if the appointment or election (or nomination for
        election) of any new Board member was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such new member will, for purposes of this Plan, be considered as a member of the Incumbent Board.

       

      For purposes of determining voting power under the term Change in Control, voting power shall be calculated by assuming the conversion of all equity securities convertible (immediately or at some
        future time) into shares entitled to vote, but not assuming the exercise of any warrant or right to subscribe to or purchase those shares. In addition, (A) the term Change in Control will not include a sale of assets, merger or other transaction
        effected exclusively for the purpose of changing the domicile of the Company, (B) the term Change in Control will not include a change in the voting power of any one or more stockholders as a result of the conversion of any class of the Company’s
        securities into another class of the Company’s securities having a different number of votes per share pursuant to the conversion provisions set forth in the Company’s Amended and Restated Certificate of Incorporation, as amended, and (C) the
        definition of Change in Control (or any analogous term) in an individual written agreement between the Company or any Affiliate and the Participant will supersede the foregoing definition with respect to Awards subject to such agreement; provided, however, that if no definition of Change in Control or any analogous term is set forth in such an individual written agreement, the foregoing definition will apply. If required for compliance with
        Section 409A of the Code, in no event will a Change in Control be deemed to have occurred if such transaction is not also a “change in the ownership or effective control of” the Company or “a change in the ownership of a substantial portion of the
        assets of” the Company as determined under Treasury Regulation Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder). The Board may, in its sole discretion and without a Participant’s consent, amend the definition of
        “Change in Control” to conform to the definition of “Change in Control” under Section 409A of the Code, and the regulations thereunder.

       

      (h)           “Code” means the Internal Revenue Code of 1986, as amended,
        including any applicable regulations and guidance thereunder.

       

      (i)          “Committee” means a committee of one or more Independent Directors
        to whom authority has been delegated by the Board in accordance with Section 2(c).

       

      (j)          “Common Stock” means the common stock of the Company having one vote
        per share.

       

      (k)          “Company” means Ocuphire Pharma, Inc., a Delaware corporation.

       

      (l)          “Consultant” means any
          person, including an advisor, who is (i) engaged by the Company or an Affiliate to render consulting or advisory services and is compensated for such services, or (ii) serving as a member of the board of directors of an Affiliate and is
        compensated for such services.  However, service solely as a Director, or payment of a fee for such service, will not cause a Director to be considered a “Consultant” for purposes of this Plan. Notwithstanding the foregoing, a person is treated as a Consultant under this Plan only if a Form S-8 Registration Statement under the Securities Act is
          available to register either the offer or the sale of the Company’s securities to such person.

       

      
        19

        
          

      

      (m)       “Continuous Service” means that the Participant’s service with the
        Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated.  A change in the capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a
        change in the entity for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s service with the Company or an Affiliate, will not terminate a Participant’s Continuous Service; provided, however, that if the Entity for which a Participant is rendering services ceases to qualify as an Affiliate, as determined by the Board, in its sole discretion,
        such Participant’s Continuous Service will be considered to have terminated on the date such Entity ceases to qualify as an Affiliate.  To the extent permitted by law, the Board or the chief executive officer of the Company, in that party’s sole
        discretion, may determine whether Continuous Service will be considered interrupted in the case of (i) any leave of absence approved by the Board or chief executive officer, including sick leave, military leave or any other personal leave, or (ii)
        transfers between the Company, an Affiliate, or their successors.  Notwithstanding the foregoing, a leave of absence will be treated as Continuous Service for purposes of vesting in an Award only to such extent as may be provided in the Company’s
        leave of absence policy, in the written terms of any leave of absence agreement or policy applicable to the Participant, or as otherwise required by law.

       

      (n)        “Corporate Transaction” means the consummation, in a single
        transaction or in a series of related transactions, of any one or more of the following events:

       

      (i)           a sale or other disposition of all or substantially all, as determined by the Board,
        in its sole discretion, of the consolidated assets of the Company and its Subsidiaries;

       

      (ii)          a sale or other disposition of more than 50% of the outstanding securities of the Company;

       

      (iii)       a merger, consolidation or similar transaction following which the Company is not the surviving corporation; or

       

      (iv)      a merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common
        Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar transaction into other property, whether in the form of securities, cash or
        otherwise.

       

      (o)        “Director” means a member of the Board.  Directors are not eligible
        to receive Awards under this Plan with respect to their service in such capacity.

       

      (p)        “Disability” means, with respect to a Participant, the inability of
        such Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of
        not less than 12 months, as provided in Sections 22(e)(3) and 409A(a)(2)(c)(i) of the Code, and will be determined by the Board on the basis of such medical evidence as the Board deems warranted under the circumstances.

       

      
        20

        
          

      

      (q)        “Dissolution” means when the Company, after having executed a
        certificate of dissolution with the State of Delaware (or other applicable state), has completely wound up its affairs.  Conversion of the Company into a Limited Liability Company (or any other pass-through entity) will not be considered a
        “Dissolution” for purposes of this Plan.

       

      (r)         “Effective Date” means February 22, 2021.

       

      (s)       “Employee” means any person employed by
          the Company or an Affiliate.  However, service solely as a Director, or payment of a fee for such services, will not cause a Director to be considered an “Employee” for purposes of this Plan.

       

      (t)          “Entity” means a corporation, partnership, limited liability
        company or other entity.

       

      (u)       “Exchange Act” means the Securities Exchange Act of 1934, as amended,
        and the rules and regulations promulgated thereunder.

       

      (v)          “Exchange Act Person” means any natural person, Entity or “group”
        (within the meaning of Section 13(d) or 14(d) of the Exchange Act), except that “Exchange Act Person” will not include (i) the Company or any Subsidiary of the Company, (ii) any employee benefit plan of the Company or any Subsidiary of the Company
        or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary of the Company, (iii) an underwriter temporarily holding securities pursuant to a registered public offering of such securities,
        (iv) an Entity Owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their Ownership of stock of the Company; or (v) any natural person, Entity or “group” (within the meaning of Section 13(d) or
        14(d) of the Exchange Act) that, as of the Effective Date, is the Owner, directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities.

       

      (w)          “Fair Market Value” means, as of any date, the value of the Common
        Stock determined as follows:

       

      (i)          If the Common Stock is listed on any established stock exchange or traded on any established market, the Fair Market Value of a
        share of Common Stock will be, unless otherwise determined by the Board, the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock) on the date of
        determination, as reported in a source the Board deems reliable.

       

      (ii)          Unless otherwise provided by the Board, if there is no closing sales price for the Common Stock on the date of determination,
        then the Fair Market Value will be the closing selling price on the last preceding date for which such quotation exists.

       

      (iii)         In the absence of such markets for the Common Stock, the Fair Market Value will be determined by the Board in good
        faith and in a manner that complies with Section 409A of the Code.

       

      
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      (x)        “Non-Employee Director” means
        a Director who either (i) is not a current employee or officer of the Company or an Affiliate, does not receive compensation, either directly or indirectly, from the Company or an Affiliate for services rendered as a consultant or in any capacity
        other than as a Director (except for an amount as to which disclosure would not be required under Item 404(a) of Regulation S-K promulgated pursuant to the Securities Act (“Regulation S-K”)),
        does not possess an interest in any other transaction for which disclosure would be required under Item 404(a) of Regulation S-K, and is not engaged in a business relationship for which disclosure would be required pursuant to Item 404(b) of
        Regulation S-K; or (ii) is otherwise considered a “non-employee director” for purposes of Rule 16b-3.

       

      (y)        “Nonstatutory Stock Option” means any option granted pursuant to Section

          5 of this Plan that does not qualify as an “incentive stock option” within the meaning of Section 422 of the Code.

       

      (z)         “Officer” means a person who is an officer of the Company within the
        meaning of Section 16 of the Exchange Act.

       

      (aa)      “Option” means a Nonstatutory Stock Option to purchase shares of
        Common Stock granted pursuant to this Plan.

       

      (bb)      “Option Agreement” means a written agreement between the Company and
        an Optionholder evidencing the terms and conditions of an Option grant.  Each Option Agreement will be subject to the terms and conditions of this Plan.

       

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

       

      (dd)      “Other Stock Award” means an award based in whole or in part by
        reference to the Common Stock which is granted pursuant to the terms and conditions of Section 6(d).

       

      (ee)       “Other Stock Award Agreement” means a written agreement
        between the Company and a holder of an Other Stock Award evidencing the terms and conditions of an Other Stock Award grant.  Each Other Stock Award Agreement will be subject to the terms and conditions of this Plan.

       

      (ff)      “Own,” “Owned,” “Owner,” “Ownership” means
        a person or Entity will be deemed to “Own,” to have “Owned,” to be the “Owner” of, or to have acquired “Ownership” of securities if such person or Entity, directly or indirectly, through any contract, arrangement, understanding, relationship or
        otherwise, has or shares voting power, which includes the power to vote or to direct the voting, with respect to such securities.

       

      (gg)       “Participant” means a person to whom an Award is granted pursuant to
        this Plan or, if applicable, such other person who holds an outstanding Award.

       

      (hh)       “Performance Cash Award” means an award of cash granted pursuant to
        the terms and conditions of Section 6(c)(ii).

       

      
        22

        
          

      

      (ii)       “Performance Criteria” means the one or more criteria that a majority
        of the Company’s Independent Directors or the Independent Compensation Committee will select for purposes of establishing the Performance Goals
        for a Performance Period.  The Performance Criteria that will be used to establish such Performance Goals may be based on any one of, or combination of, the following as determined by a majority of the Company’s
        Independent Directors or the Independent Compensation Committee: (i) sales; (ii) revenues; (iii) assets; (iv) expenses; (v) market penetration or expansion; (vi) earnings from operations; (vii) earnings before
        or after deduction for all or any portion of interest, taxes, depreciation, amortization, incentives, service fees or extraordinary or special items, whether or not on a continuing operations or an aggregate or per share basis; (viii) net income or
        net income per common share (basic or diluted); (ix) return on equity, investment, capital or assets; (x) one or more operating ratios; (xi) borrowing levels, leverage ratios or credit rating; (xii) market share; (xiii) capital expenditures; (xiv)
        cash flow, free cash flow, cash flow return on investment, or net cash provided by operations; (xv) stock price, dividends or total stockholder return; (xvi) development of new technologies or products; (xvii) sales of particular products or
        services; (xviii) economic value created or added; (xix) operating margin or profit margin; (xx) customer acquisition or retention; (xxi) raising or refinancing of capital; (xxii) successful hiring of key individuals; (xxiii) resolution of
        significant litigation; (xxiv) acquisitions and divestitures (in whole or in part); (xxv) joint ventures and strategic alliances; (xxvi) spin-offs, split-ups and the like; (xxvii) reorganizations; (xxviii) recapitalizations, restructurings,
        financings (issuance of debt or equity) or refinancings; (xxix) or strategic business criteria, consisting of one or more objectives based on the following goals: achievement of timely development, design management or enrollment, meeting specified
        market penetration or value added, payor acceptance, patient adherence, peer reviewed publications, issuance of new patents, establishment of or securing of licenses to intellectual property, product development or introduction (including, without
        limitation, discovery of novel products, maintenance of multiple products in pipeline, product launch or other product development milestones), geographic business expansion, cost targets, cost reductions or savings, customer satisfaction,
        operating efficiency, acquisition or retention, employee satisfaction, information technology, corporate development (including, without limitation, licenses, innovation, research or establishment of third party collaborations), manufacturing or
        process development, legal compliance or risk reduction, patent application or issuance goals, or goals relating to acquisitions, divestitures or other business combinations (in whole or in part), joint ventures or strategic alliances; and (xxx)
        other measures of performance selected by the Company’s Independent Directors or the Independent Compensation Committee.

       

      
        23

        
          

      

      (jj)        “Performance Goals” means, for a Performance Period, the one or more
        goals established by a majority of the Company’s Independent Directors or the Independent Compensation Committee for the Performance Period based upon the Performance
        Criteria.  Performance Goals may be based on a Company-wide basis, with respect to one or more business units, divisions, Affiliates, or business segments, and in either absolute terms or relative to the performance of one or more comparable
        companies or the performance of one or more relevant indices.  The Company’s Independent Directors or the Independent Compensation Committee are authorized at any time in
        its sole discretion, to adjust or modify the calculation of a Performance Goal for such Performance Period in order to prevent the dilution or enlargement of the rights of Participants, (a) in the event of, or in anticipation of, any unusual or
        extraordinary corporate item, transaction, event or development; (b) in recognition of, or in anticipation of, any other unusual or nonrecurring events affecting the Company, or the financial statements of the Company in response to, or in
        anticipation of, changes in applicable laws, regulations, accounting principles, or business conditions; or (c) in view of the Company’s Independent Directors or the Independent
          Compensation Committee’s assessment of the business strategy of the Company, performance of comparable organizations, economic and business conditions, and any other circumstances deemed relevant. Specifically, the Company’s Independent Directors or the Independent Compensation Committee are authorized to make adjustment in the method of calculating attainment of Performance Goals and objectives
        for a Performance Period as follows: (i) to exclude the dilutive effects of acquisitions or joint ventures; (ii) to assume that any business divested by the Company achieved performance objectives at targeted levels during the balance of a
        Performance Period following such divestiture; and (iii) to exclude the effect of any change in the outstanding shares of common stock of the Company by reason of any stock dividend or split, stock repurchase, reorganization, recapitalization,
        merger, consolidation, spin-off, combination or exchange of shares or other similar corporate change, or any distributions to common stockholders other than regular cash dividends. In addition, the Company’s
        Independent Directors or the Independent Compensation Committee are authorized to make adjustment in the method of calculating attainment of Performance Goals and objectives for a Performance Period as follows:
        (i) to exclude restructuring and/or other nonrecurring charges; (ii) to exclude exchange rate effects, as applicable, for non-U.S. dollar denominated net sales and operating earnings; (iii) to exclude the effects of changes to generally accepted
        accounting standards required by the Financial Accounting Standards Board; (iv) to exclude the effects of any items that are “unusual” in nature or occur “infrequently” as determined under generally accepted accounting principles; (v) to exclude
        the effects to any statutory adjustments to corporate tax rates; and (vi) to make other appropriate adjustments selected by the Company’s Independent Directors or the Independent
          Compensation Committee.

       

      (kk)     “Performance Period” means the period of time selected by a majority of
        the Company’s Independent Directors or the Independent Compensation Committee over which the attainment of one or more Performance Goals will be measured for the purpose of
        determining a Participant’s right to and the payment of an Award.  Performance Periods may be of varying and overlapping duration, at the sole discretion of a majority of the Company’s Independent Directors or
        the Independent Compensation Committee.

       

      (ll)         “Performance Stock Award” means an Award granted under the terms
        and conditions of Section 6(c)(i).

       

      (mm)     “Plan” means this Ocuphire Pharma, Inc. 2021 Inducement Plan, as it may
        be amended.

       

      (nn)      “Restricted Stock Award” means an award
          of shares of Common Stock which is granted pursuant to the terms and conditions of Section 6(a).

       

      (oo)      “Restricted Stock Award Agreement” means a written agreement between the Company and a
        holder of a Restricted Stock Award evidencing the terms and conditions of a Restricted Stock Award grant.  Each Restricted Stock Award Agreement will be subject to the terms and conditions of this Plan.

       

      
        24

        
          

      

      (pp)       “Restricted Stock Unit Award” means a right to receive shares of Common Stock which
        is granted pursuant to the terms and conditions of Section 6(b).

       

      (qq)       “Restricted Stock Unit Award Agreement” means a written
        agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant.  Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions of this
        Plan.

       

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

       

      (ss)        “Securities Act” means the Securities Act of 1933, as amended.

       

      (tt)       “Stock Appreciation Right” or “SAR” means
        a right to receive the appreciation on Common Stock that is granted pursuant to the terms and conditions of Section 5.

       

      (uu)      “Stock Appreciation Right Agreement” means a written agreement
        between the Company and a holder of a Stock Appreciation Right evidencing the terms and conditions of a Stock Appreciation Right grant.  Each Stock Appreciation Right Agreement will be subject to the terms and conditions of this Plan.

       

      (vv)     “Subsidiary” means, with respect to the Company, (i) any corporation of
        which more than 50% of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, stock of any other class or classes of such corporation will
        have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership, limited liability company or other entity in which the Company has a direct or
        indirect interest (whether in the form of voting or participation in profits or capital contribution) of more than 50%.

       

      (ww)      “Transaction” means a Corporate Transaction or a Change in Control.

       

       

      

       25

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