Document:

Document

Sirius America Insurance Company 80 Bloor Street West #1202 Toronto, Ontario
M5S 2V1

October 7, 2022

PRIVATE AND CONFIDENTIAL

Mr. Stephen Yendall 10 Reigate Road Toronto, Ontario M9A 2Y2

Dear Steve:

Re:    Offer of Indefinite Employment and Executive Employment Agreement

Sirius America Insurance Company (the “Company”) is pleased to confirm our offer to employ you on an indefinite basis as a full-time salaried executive in the position of Chief Financial Officer of SiriusPoint Ltd. Once you accept this offer, we will have a binding employment agreement. The offer is subject to the following terms and conditions:

1.Effective Date/Location/Reporting: This agreement will be effective and your employment will commence on October 31, 2022 or any other agreed date (“Effective Date”). You will work in Toronto or in such other location as required by the Company. You will report to the CEO of SiriusPoint Ltd.

2.Conditional Employment: Your employment is conditional on (i) being eligible and remaining eligible to lawfully work in Canada for the duration of your employment and providing appropriate proof of same; (ii) maintaining a valid Canadian passport; (iii) being eligible and remaining eligible to undertake all required international business travel, including to the US; and
(iv) your being approved by any relevant regulatory authorities to hold any relevant regulated positions in connection with your employment with the Company, to the extent applicable.

3.Salary: You will be paid an annual salary of $682,320 CAD (“Base Salary”). Such amount will be payable to you on a semi-monthly basis in accordance with the Company’s regular payroll practices as may be amended from time-to-time. The Base Salary will be reviewed annually in the March/April time frame and in connection with regular senior management compensation reviews.

4.Sign-on Bonus: In March 2023, you will be paid a lump sum sign-on bonus of $320,000 CAD.

5.Annual Bonus: You will be eligible to receive a discretionary annual cash bonus with a target bonus amount of 100% of your then current Base Salary (the “Target Bonus”), subject to generally applicable threshold and maximum levels set by the Compensation Committee of the 
			
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Board of Directors of SiriusPoint Ltd. (“Compensation Committee”) as to individual and corporate performance goals. Payment of any annual bonus will generally occur in March or April at the
			
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same time that annual bonuses are paid to other members of the management team. For the 2023 performance year only, you are guaranteed a bonus payment at 100% of target, subject to the termination provisions below.

6.Annual Long-Term Incentive: You will be eligible to participate in a long term incentive (“LTI”) program under the SiriusPoint Ltd 2013 Omnibus Incentive Plan as amended and restated as of February 26, 2021 (the “Plan”). Starting in 2023, your annual LTI award (“Annual Award”) will, subject to the review and approval of the Compensation Committee, have an on-target grant date value equal to 200% of your Base Salary (with 200% expressed as $1,000,000 USD for the purpose of the 2023 LTI grant). The Annual Award will be provided through a mix of restricted stock units of SiriusPoint Ltd. (“RSUs”) with time-based, performance-based and/or a combination of time and performance-based vesting requirements (as to 75% of the shares underlying the Annual Award) and options to acquire common stock of SiriusPoint Ltd. (“Options”) (as to 25% of the shares underlying the Annual Award) or in such other ratio and/or in the form of other types of awards permitted under the Plan as granted to other Plan participants and as determined at the discretion of the Compensation Committee. The RSU's and Options are subject to the terms and conditions of the Plan. Your Annual Award will be granted at the same time as awards are granted to other Plan participants (expected to be no later than the second quarter of each calendar year) and will be subject to the terms set forth in the applicable equity plans and related implementing award agreements and award notices.

7.Make Whole LTI Award: Within sixty (60) days of the Effective Date, you will be granted RSUs of SiriusPoint Ltd. with a grant date value of $132,000.00 USD (the “Make Whole RSUs”) which will be subject to the Plan, and the Employee Service Restricted Share Unit Award Notice and Agreement (collectively, the “RSU Grant Documents”). The RSUs Grant Documents will be separately provided on terms that are consistent with this Agreement. The Make Whole RSUs will vest ratably in three equal installments on November 15, 2022; November 15, 2023; November 15, 2024, subject to the termination provisions below.

8.Sign-On LTI Award: Within sixty (60) days of the Effective Date, you will be granted RSUs of SiriusPoint Ltd. with a grant date value of $500,000.00 USD which, subject to the Plan and the Employee Service Restricted Share Unit Award Notice and Agreement, will vest ratably on the first, second, and third anniversaries of the grant date subject to the termination provisions below. The RSUs Grant Documents will be separately provided on terms that are consistent with this Agreement. In addition, you shall be granted an option to purchase (1) 100,000 shares of SiriusPoint Ltd. common stock which shall become vested and exercisable when the closing trading price of SiriusPoint Ltd. on the New York Stock Exchange is at least $8.00 USD and (2) 100,000 shares of the SiriusPoint Ltd. common stock which shall become vested and exercisable when the closing trading price of SiriusPoint Ltd. on the New York Stock Exchange is at least
$10.00 USD (collectively, the “Sign-On Options”). The grant date value of the Sign-On Options will be calculated using the closing trading price of SiriusPoint Ltd. on the New York Stock Exchange as of the Effective Date. The complete terms of the Sign-On Options will be set forth in the Employee Share Option Award Notice and Employee Share Option Agreement (collectively, the “Sign-On Options Documents”). The Sign-On Options Documents will be separately provided on terms that are consistent with this Agreement.

9.Tax Equalization: If your business travel outside of Canada causes you to incur a personal tax liability that you would not otherwise have incurred but for the business travel, the Company will make you whole with respect to such liability provided, upon reasonable request, you provide the Company with appropriate documentation demonstrating the personal tax liability you incurred.
			
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10.Group Benefit Plan: You are eligible to participate in any group benefit plan maintained by the Company on the same terms as other similarly situated employees of the Company, except as limited by the terms of the benefit plan. .

11.Amendment or Discontinuance: The Company may amend or discontinue any group benefit plan or any Company policy without notice to you except that if notice is required by applicable law, then notice is limited to eight weeks or, if greater, any notice required by the ESA.

12.Hours of Work: As an executive, you will have the discretion to determine your own hours of work conditional on ensuring that all business needs and deliverables are met on an efficient and timely basis consistent with all of your fiduciary, professional and legal obligations.

13.Vacation: You are entitled to 5 weeks’ vacation time for each calendar year of employment, prorated for any partial year. Any required vacation pay is limited to your Salary unless required otherwise by the ESA. Subject to the terms herein, you will earn vacation time at the rate of 2.083 days for each completed month of active service but in no case will you receive less than your minimum vacation time under the ESA. You are obligated to take your vacation each vacation year, except that you may carry over any vacation entitlement but only for the first six (6) months in the next vacation year. At the end of that six (6) month’ period, you will have no entitlement to and will forfeit your unused vacation time and vacation pay (except as required otherwise by the ESA). The Company reserves the right to schedule any vacation to which you are entitled.

14.Policies: You will be bound by all existing and new policies issued by the Company or any Group Company. Subject to section 11, the Company or any Group Company may introduce, amend or eliminate any policy. If there is conflict or difference between the terms of any policy and the terms of this Agreement, then the terms of this Agreement will prevail.

15.Duties:

(a)You will perform the duties usually associated with your position and any other duties as assigned to you consistent with your role.

(b)You are a fiduciary and will comply with all fiduciary obligations and your professional obligations to any professional or regulatory body to which you are subject, both during and after your employment in addition to your obligations under this agreement, the Protective Agreement and any other applicable agreement to which you are a party.

(c)You will act in good faith at all times and will perform your duties to the highest standard expected in your role.

(d)You will be required to undertake business travel nationally and internationally to carry out your duties.

(e)The Company may reasonably alter your duties and your reporting relationships from time to time in accordance with its business needs provide that any changes are consistent with your role and provided that there is no “Good Reason”.
			
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(a)You will devote your full time and attention to the Company’s business needs during your work hours and you will not engage in any other employment or activity unrelated to the Company’s business during those work hours.

(b)You will not engage in any conduct which places you in a conflict of interest position, whether potential or actual.

(c)Notwithstanding that you may (i) perform duties for any other Group Company,
(ii) report to the CEO of SiriusPoint Ltd., and (iii) participate in the bonus or incentive plans of a Group Company, there is no intention to create an employment relationship or agreement with any other Group Company and you will be employed exclusively by the Company.

16.Employee Representations. You represent to the Company that your acceptance of this offer of employment and your commencement of employment with the Company does not violate any agreement or obligation (whether or not written) that you have with or to any person or entity including, but not limited to, any prior employer. You further represent that you have provided the Company with true, correct, and complete copies of all such agreements related to your employment with your former employer. You further confirm that you will not remove or take any documents or proprietary data or materials of any kind, electronic or otherwise, with you from your prior employer to the Company without written authorization from your current or former employer, nor will you use or disclose any such confidential information during the course and scope of your employment with the Company.

17.Accommodation: The Company has an accommodation process in place and provides accommodations for employees with disabilities. If you require a specific accommodation because of a disability, please contact a member of the Company’s Human Resources Team so that arrangements can be made for the appropriate accommodations to be in place as required by applicable law.

18.Protective Agreement: In consideration of the terms herein, you will also agree to the terms of and sign the Company’s Protective Agreement, attached as Appendix “A” and incorporated herein by reference.

19.Indefinite Employment: Your employment is on an indefinite basis subject to the layoff and termination provisions herein. The layoff and termination provisions herein limit and reduce your common law entitlements and should be reviewed carefully with legal counsel.

20.Layoff: The Company may lay you off at any time on a temporary basis in accordance with the provisions of the ESA, and a temporary layoff will not constitute a termination of your employment unless the ESA requires same.

21.Definitions: In this agreement:

(a)“Good Reason” means (A) the assignment to you of duties that are significantly different from, or that result in a substantial diminution of, your title, duties, authorities or responsibilities hereunder; (B) a reduction in your base salary of 10% or more, (C) a material breach by the Company of this offer letter, or any other material agreement with the Company, or
(D) a material change of your primary location that is at least 50 miles from your home in Toronto (except, if you change residency on your own, then this provision will not apply); provided that, if you resign with Good Reason, (1) your notice of resignation must be delivered to the Company

			
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within thirty (30) days following the claimed occurrence of Good Reason and must specify in reasonable detail the circumstances claimed to constitute Good Reason, (2) the Company shall have thirty (30) days of receipt of such notice to cure such Good Reason event, (3) failing such cure, the termination of employment shall be effective as of the date immediately following final day of the Company’s 30-day cure period, and (4) if such Good Reason event is cured, the notice of resignation shall be deemed withdrawn and without effect.

(a)“Cause” means any conduct which would disentitle you to notice of termination or pay in lieu of notice under the ESA.

(b)“ESA” means the Ontario Employment Standards Act, 2000 as amended or any successor legislation.

(c)“Group Company” means Group Company as defined in the Protective Agreement.

(d)“Just Cause” means any conduct which justifies immediate termination at common law without notice or pay in lieu of notice.

(e)“Termination Date” means the date on which you are advised of the termination of your employment by the Company.

22.Termination By You Without Good Reason: If you decide to terminate your employment by resigning voluntarily without Good Reason, you will provide six months’ written notice of resignation (“Notice Period”). You will be available to the Company and will perform your duties as required during the Notice Period. You will not commence new employment during the Notice Period. Upon resignation, you will receive any outstanding Base Salary, vacation pay and all ESA and other payments and entitlements owing under this agreement up to and including the last day of the Notice Period. Any Options which are vested as of the last day of the Notice Period will remain exercisable for ninety (90) days and the unvested Options will be cancelled and forfeited on that date.

23.Termination By You for Good Reason: If you resign from your employment for Good Reason, then you will receive the same payments and entitlements as if you are terminated without Cause and without Just Cause under section 25.

24.Termination – Cause:  If your employment is terminated in circumstances where there is Cause, then you will receive only any outstanding Salary, vacation pay and all ESA and other payments and entitlements owing under this agreement up to and including the Date of Termination. All vested and unvested Options will be cancelled and forfeited on that Date.

25.Termination – Without Cause and Without Just Cause: In lieu of reasonable notice at common law, the Company may terminate your employment in circumstances where there is no Cause and no Just Cause by providing you only:

(f)all of your payments and entitlements owing under this agreement and the ESA up to the Termination Date;
(g)a lump sum retiring allowance equal to twelve (12) months of your then current Base Salary, as of the Termination Date, which payment is inclusive of your entitlement to ESA pay in lieu of notice and ESA severance pay;

			
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(h)your annual cash bonus for the year that includes the Termination Date paid at target and prorated up to the last day of the ESA minimum statutory notice period;
(i)continuation of employer contributions or premiums with respect to coverage for all of your benefits under any benefit plan for the 12 month period after the Termination Date or at the option of the Company, payment of the applicable employer contribution or premium for any benefit that cannot be continued after the ESA minimum statutory notice period to the end of the 12 month period;
(j)with respect to any granted but unvested RSUs as of the Termination Date, these RSUs will continue to be eligible to vest for a period of twelve (12) months following the Termination Date;
(k)any granted but unvested Options as of the Termination Date will vest as of the Termination Date and remain exercisable for three (3) years following the Termination Date.

This section will continue to apply regardless of the length of your employment and any change in your employment, including any change in position, duties or compensation.

26.Termination Without Cause but with Just Cause: If the Company terminates your employment in circumstances where there is no Cause but there is Just Cause, then you are entitled only to (i) all of your Salary, payments and entitlements owing under this agreement up to and including the Termination Date and (ii) all of your payments and entitlements owing under the ESA, including minimum notice of termination or pay in lieu of notice; minimum ESA severance pay, if any; and vacation pay, continued payment of any benefit plan contributions and any other minimum payment or entitlement as required by the ESA but only to the end of the ESA minimum statutory notice period. Except and only to the extent provided otherwise by the ESA, all vested and unvested Options will be cancelled and forfeited.

27.No Additional Entitlement on any Termination of Employment: Upon termination of your employment for any reason, lawful or unlawful, your rights and entitlements will be determined under this agreement and not at common law.

28.Release: You will sign a full and final release and indemnity in a form satisfactory to the Company if you wish to receive any entitlements hereunder in excess of your minimum entitlements under the ESA.

29.ESA Compliance: This agreement is subject to the terms of the ESA and the parties intend to comply with the ESA in all respects. If the ESA provides a greater right or benefit than any of the terms herein, then the provisions of the ESA will apply in lieu of the terms herein but only to the extent required by the ESA, and this agreement is deemed to be amended accordingly.

30.Actions on termination. On or following the termination of the employment (howsoever arising) you will:

(l)at the request of the Company, resign from any office which you occupy and, if applicable, shall transfer without payment to the Company or as the Company may direct any third party any shares or other securities you held in the Company (or any Group Company) as a nominee or trustee for the Company (or any Group Company) and deliver to the Company the related certificates, provided however that such resignation shall be without prejudice to any claims which you may have against the Company or any Group Company arising out

			
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of the termination of the Employment. In the event you unreasonably refuse to sign reasonably appropriate resignation documentation, the Company may sign such resignation documentation on your behalf.

(m)forthwith deliver to the Company all “Confidential Information” (as defined in the Protective Agreement) and materials containing the same and all other Company and Group Company property which are in your possession or under your power or control and on the Company's request provide a signed statement that you have fully complied with the obligations hereunder.

(n)cooperate with the Company and any Group Company by providing such assistance as may reasonably be required during normal working hours in connection with any handover arrangements or any claim made by or against the Company or any Group Company. For the avoidance of doubt, such assistance may include, but not be limited to, attending meetings, reviewing documents, giving and signing statements/affidavits and attending hearings and giving evidence.

(o)provide the Company with all necessary information as may be necessary to allow such person as the Company may determine to access any IT equipment, hard drive, memory stick or other equipment used by you in the course of the employment regardless of who owns such equipment.

31.Technology and Privacy: The Company may provide you with a laptop and various electronic technologies, including e-mail, voicemail and Internet services. These technologies are intended to be used for business purposes only and are meant to assist you in completing job duties. Personal use of these technologies should be at a minimum, and limited to personal time.

It is imperative that you not misuse these technologies. You must ensure that only business- related information is contained or maintained on the Company’s systems and devices. At a minimum, you must be guided by common sense when using such technologies. Given the ever- changing nature of these technologies, it is impossible to catalogue all possible misuse. Nevertheless, you are strictly prohibited from using any technology to view, listen to or communicate offensive, defamatory or disruptive content. Such content includes, but is not limited to, material of a sexual or sexually suggestive nature, racial, ethnic or gender-specific slurs, or any other visual/audio/verbal content that offends or is intended to offend someone because of age, sex, sexual orientation, religion, national origin, disability or other lawfully protected trait.

All messages distributed via the Company’s email and electronic systems or contained on those systems are the property of the Company. Since the Company’s name is included in the email address, all messages reflect on the organization. You should have no expectation of privacy in anything that you create, store, send or receive on the Company’s email or electronic systems. All e-mails and any other electronic messages can be monitored without prior notification. The Company will periodically monitor its e-mail and other systems and files to determine whether there is evidence of misuse. If you misuse any Company technology, you will be disciplined, up to and including termination of employment.

32.Expenses: The Company will provide you with a laptop, cellphone and other appropriate tools as determined by the Company. The Company will reimburse you for any reasonable business expenses subject to the Company approval, appropriate receipts, and compliance with

			
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any Company policy on expenses. The Company agrees to pay up to $20,000 CAD for legal fees incurred by you in connection with the negotiation of this agreement provided that an appropriate invoice addressed to the Company is provided in support of those fees.

33.Assignment; Successors and Assigns: The Company may assign this agreement to any other corporation, or to any successor (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company. You expressly consent to the Company’s assignment of its rights and obligations under this offer letter to a subsidiary service company formed or designated for the purposes of employing employees of and other service providers to the Company. This offer letter shall be binding upon and inure to the benefit of both parties and their respective successors and assigns, including any corporation with which or into which the Company may be merged; provided, however, that your obligations are personal and shall not be assigned by you.

34.Entire Agreement: This agreement, including any appendices and exhibits, constitutes the entire agreement between you and the Company in reference to the matters stated herein and relative to your employment by the Company. Execution of this agreement cancels and supersedes all previous oral or written representations (including the term sheet), offers, understandings and agreements in their entirety. Except as provided otherwise in this agreement, this agreement may only be amended in writing.

35.Enforceability: Any provision of this agreement that is prohibited or unenforceable shall be ineffective and shall be severed from the balance of this agreement without affecting the validity or enforceability of any other provision.

36.Payments / Deductions: All payments are payable in Canadian dollars, except where
U.S. dollars (“USD”) are specified and are subject to all deductions and withholdings as required by statute.

37.Directors & Officers Insurance: You will be covered under a directors and officers’ liability insurance maintained by the Company to the same extent as other directors and officers of the Company. You will continue to be covered by such insurance for six (6) years following your termination of employment for any reason.

Acceptance of Terms and Conditions

Would you please confirm your acceptance of these terms and conditions by signing a copy of this letter and returning same to my attention. Electronic signatures on this letter are valid as if original. Before your acceptance, you should take whatever legal or other advice you believe is necessary to fully understand all terms and conditions, especially but not limited to the termination provisions. Please advise if you have any questions about this letter or the Company’s policies.

We look forward to a mutually rewarding relationship. Sincerely,
SCOTT EGAN
Sirius America Insurance Company Scott Egan
Chief Executive Officer
			
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I, Stephen Yendall, hereby accept employment with the Company subject to the terms and conditions set out above.

October 8, 2022    

Date    Signature
			
	10Exhibit 4.3

 

OMNIBUS INCENTIVE PLAN

 

ARTICLE I

 

PURPOSES

 

Rentokil Initial, plc (the “Company”),
a public limited company incorporated under the laws of England and Wales, has adopted this Omnibus Incentive Plan, as may be amended
from time to time (the “Plan”), for the following purposes:

 

(1)  To further the growth, development
and financial success of the Company and its Subsidiaries (as defined herein) by providing additional incentives to Associates, consultants
and directors of the Company and its Subsidiaries, who have been or will be given responsibility for the management or administration
of the Company’s (or one or more of its Subsidiaries’) business affairs by assisting them to become owners of Company Common
Stock, thereby benefiting directly from the growth, development and financial success of the Company and its Subsidiaries.

 

(2)  To enable the Company and
its Subsidiaries to obtain and retain the services of the type of professional, technical and managerial Associates, consultants and directors
considered essential to the long-range success of the Company and its Subsidiaries by providing and offering them an opportunity to become
owners of Company Common Stock pursuant to the Awards granted hereunder.

 

The Plan is intended to govern awards originally granted by Terminix
Global Holdings, Inc. (“Terminix”), a Delaware corporation, pursuant to its Amended and Restated 2014 Omnibus Incentive
Plan, which such awards will be assumed by the Company in connection with the transactions contemplated by the Agreement and Plan of Merger,
dated as of December 13, 2021, as amended by Amendment No. 1, dated as of March 14, 2022, by and among the Company, Terminix, and others,
as it may be further amended from time to time (the “Merger Agreement”) (such awards, the “Assumed Awards”).
In addition, the Plan is intended to govern awards granted by the Company to Affected Employees (as defined in the Merger Agreement) following
the Effective Time (as defined in the Merger Agreement) for purposes of satisfying its obligations under Section 7.05(a) of the Merger
Agreement. From and after the Effective Date, no awards shall be made under the Plan other than, for the avoidance of doubt, (i) awards
made in connection with the assumption of the Terminix awards described above and (ii) awards made to Affected Employees for purposes
of satisfying the Company’s obligations under Section 7.05(a) of the Merger Agreement.

 

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ARTICLE II

 

DEFINITIONS

 

Whenever the following terms are used
in this Plan, they shall have the meanings specified below unless the context clearly indicates to the contrary. The singular use of a
term shall include the plural where the context so indicates.

 

Section 2.1           “Administrator” shall mean the
Board or any committee of the Board designated by the Board to administer the Plan, in each case as further provided in Article III.

 

Section 2.2          “Affiliate” shall mean, with
respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control with, such Person where
 “control” shall have the meaning given such term under Rule 405 of the Securities Act.

 

Section 2.3          “Alternative Award” shall have the
meaning set forth in Section 14.2.

 

Section 2.4          “Applicable Laws” shall mean
the requirements relating to the administration of stock option, restricted stock, restricted stock unit and other equity-based compensation
plans under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which
the Company Common Stock is listed or quoted and the applicable laws of any other country or jurisdiction where Awards are granted under
the Plan.

 

Section 2.5           “Associate” shall mean any individual
classified as an employee by the Company or one of its Subsidiaries, whether such associate is employed by the Company or one of its Subsidiaries
at the time this Plan is adopted or becomes so employed subsequent to the adoption of this Plan, including any person to whom an offer
of employment has been extended (except that any Award granted to such person shall be conditioned on his or her commencement of service).
A person shall not cease to be an Associate in the case of (a) any leave of absence approved by the Company or (b) transfers between locations
of the Company or between the Company, any of its Subsidiaries, or any successor. For purposes of Incentive Stock Options, no such leave
may exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon
expiration of a leave of absence approved by the Company is not so guaranteed, the employment relationship shall be deemed to have terminated
on the first day immediately following such three (3)-month period, and such Incentive Stock Option held by the Optionee shall cease to
be treated as an Incentive Stock Option and shall be treated for tax purposes as a Non-Qualified Stock Option on the first day immediately
following a three (3)-month period from the date the employment relationship is deemed terminated.

 

Section 2.6          “Award” shall mean any Option,
Stock Purchase Right, Restricted Stock, Restricted Stock Unit, Performance Share, Performance Unit, SAR, Dividend Equivalent, Deferred
Share Unit or other Stock-Based Award granted to a Participant pursuant to the Plan, including an Award combining two or more types of
Awards into a single grant.

 

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Section
2.7           “Award Agreement” shall mean any written
agreement, contract or other instrument or document evidencing an Award, including through an electronic medium. The Administrator
may provide for the use of electronic, internet or other non-paper Award Agreements, and the use of electronic, internet or other
non-paper means for the Participant’s acceptance of, or actions under, an Award Agreement unless otherwise expressly specified
herein. In the event of any inconsistency or conflict between the express terms of the Plan and the express terms of an Award
Agreement, the express terms of the Plan shall govern.

 

Section 2.8           “Base Price” shall have the meaning
set forth in Section 2.51.

 

Section 2.9           “Board” shall mean the Board of Directors
of the Company.

 

Section 2.10         “Cause” shall mean, unless
otherwise defined in an Award Agreement, any of the following: (a) the Participant’s willful and continued failure to perform substantially
the Participant’s duties with the Company or any of its Subsidiaries (other than any such failure resulting from the Participant’s
incapacity as a result of physical or mental illness) after a written demand for substantial performance specifying the manner in which
the Participant has not performed such duties is delivered to the Participant by the person or entity that supervises or manages the Participant;
(b) the Participant’s engaging in willful and serious misconduct that is injurious to the Company or any of its Subsidiaries; (c)
the Participant’s commission of one or more acts of fraud or personal dishonesty resulting in or intended to result in personal
enrichment at the expense of the Company or any of its Subsidiaries; (d) the Participant’s substantial abusive use of alcohol, drugs
or similar substances that, in the sole judgment of the Company, impairs the Participant’s job performance; (e) the Participant’s
material violation of any Company policy that results in harm to the Company or any of its Subsidiaries; or f the Participant’s
indictment for or conviction of (or plea of guilty or nolo contendere to) a felony or of any crime (whether or not a felony) involving
moral turpitude. A termination for Cause shall be deemed to include a determination by the Administrator following a Participant’s
termination of service that circumstances existing prior to such termination would have entitled the Company or one of its Subsidiaries
to have terminated such Participant’s employment for Cause.

 

Section 2.11         “Change in Control” shall
mean the first to occur of any of the following events after the Effective Date:

 

(a)         the acquisition, directly or indirectly, by any person, entity or “group” (as defined in Section 13(d) of the Exchange Act)
of beneficial ownership of more than 50% of the combined voting power of the Company’s then outstanding voting securities, other
than any such acquisition by the Company, any of its Subsidiaries, any employee benefit plan of the Company or any of its Subsidiaries,
or any Affiliates of the foregoing;

 

(b)         the merger, consolidation or other similar transaction involving the Company, as a result of which persons who were holders of voting
securities of the Company immediately prior to such merger, consolidation, or other similar transaction do not, immediately thereafter,
beneficially own, directly or indirectly, more than 50% of the combined voting power entitled to vote generally in the election of directors
of the merged or consolidated company;

 

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(c)         within any 24-month period, the persons who were directors of the Company at the beginning of such period (the “Incumbent
Directors”) shall cease to constitute at least a majority of the Board, provided that any director elected or
nominated for election to the Board by any Investor or a majority of the Incumbent Directors still in office shall be deemed to be
an Incumbent Director for purpose of this clause (c);

 

(d)         the approval by the Company’s shareholders of the liquidation or dissolution of the Company other than a liquidation of the Company
into any Subsidiary or a liquidation as a result of which persons who were stockholders of the Company immediately prior to such liquidation,
own, directly or indirectly, more than 50% of the combined voting power entitled to vote generally in the election of directors of the
entity that holds substantially all of the assets of the Company following such event; or

 

(e)         the sale, transfer or other disposition of all or substantially all of the assets of the Company to one or more persons or entities that
are not, immediately prior to such sale, transfer or other disposition, Affiliates of the Company;

 

in each case, provided that, as to Awards subject to
Section 409A of the Code, such event also constitutes a “change in control” within the meaning of Section 409A of the Code.
In addition, notwithstanding the foregoing, a Change in Control shall not be deemed to occur if the Company files for bankruptcy, liquidation,
insolvency, administration or reorganization under the laws of the relevant jurisdiction or as a result of any restructuring that occurs
as a result of any such proceeding.

 

Section 2.12         “Change in Control Price” shall
mean the highest price per share of Company Common Stock paid in conjunction with any transaction resulting in a Change in Control. If
any part of the price paid is payable other than in cash, the value of the non-cash portion of the Change in Control Price shall be determined
in good faith by the Administrator as constituted immediately prior to the Change in Control.

 

Section 2.13         “Code” shall mean the Internal Revenue
Code of 1986, as amended.

 

Section 2.14         “Company” shall have the meaning
set forth in Article I and shall include any successor.

 

Section 2.15         “Company Common Stock” shall
mean the ordinary shares, par value £0.01 per share, of the Company or, as applicable, American depositary receipts and American
depositary shares related thereto, and such other stock or securities into which such ordinary shares are hereafter converted or for which
such ordinary shares are exchanged.

 

Section 2.16          “Competing Business” shall mean (a)
in the case of any Participant whose duties and responsibilities are primarily applicable to the Company and its Subsidiaries taken as
a whole, any entity which has operations that compete with any of the businesses of the Company and its Subsidiaries; and (b) in the case
of any Participant whose duties and responsibilities are primarily applicable to one or more discrete businesses of the Company or any
of its Subsidiaries, any entity which has operations that compete with any of such discrete businesses; and, in the case of each of Section
2.16 and Section 2.16; in any jurisdiction in which such business or businesses are engaged, or in which any of the Company or such Subsidiary
has documented plans to become engaged of which the Participant has knowledge at the time of the Participant’s separation from service.

 

    4 

     

    

 

Section 2.17         “ Competitive Activity” shall mean
any of the following:

 

(a)         the Participant’s directly or indirectly owning any interest in, operating, joining, controlling or participating as a partner,
director, principal, officer or agent of, entering into the employment of, acting as a consultant to, or performing any services for any
Competing Business; provided, that Competitive Activity shall not include any such relationship with an entity (or group of Affiliated
entities) that includes both a Competing Business and one or more business units that are not Competing Businesses if (i) the Participant’s
interest in or association with such entity is unrelated to any Competing Business, (ii) such entity’s gross revenue from all Competing
Businesses is less than 10% of such entity’s total gross revenue, and (iii) the Participant’s interest is directly or indirectly
less than two percent (2%) of all Competing Businesses.

 

(b)         the Participant’s directly or indirectly soliciting for employment, employing or otherwise interfering with the relationship of
the Company or any of its Affiliates with any natural person throughout the world who is, or during the twelve-month period preceding
such solicitation, employment, or interference was, employed by or otherwise engaged to perform services for the Company or any of its
Affiliates; provided, that this Section 2.17(b) shall not apply to any such natural person whose employment was involuntarily terminated,
other than for Cause, by the Company or any of its Affiliates; or

 

(c)         the Participant’s directly or indirectly misusing or (other than in the course of his normal duties on behalf of the Company and
its Subsidiaries) disclosing any confidential information of the Company or any of its Affiliates.

 

Section 2.18         “Consultant” shall mean any
natural person who is engaged by the Company or any of its Subsidiaries to render consulting or advisory services to such entity.

 

Section 2.19          “Corporate Event” shall mean,
as determined by the Administrator in its sole discretion, any transaction or event described in Section 4.3(a) or any unusual or nonrecurring
transaction or event affecting the Company, any Subsidiary of the Company, or the financial statements of the Company or any of its Subsidiaries,
or changes in applicable laws, regulations or accounting principles (including, without limitation, a recapitalization of the Company).

 

Section 2.20         “Deferred Share Unit” shall
mean a unit credited to a Participant’s account in the books of the Company under Article X each of which represents the right to
receive one Share of Company Common Stock or cash equal to the Fair Market Value thereof on settlement of the account.

 

Section 2.21         “Director” shall mean a member of the
Board.

 

Section 2.22         “Disability” shall mean (x) for Awards
that are not subject to Section 409A of the Code, “disability” as such term is defined in Section 22(e)(3) of the Code and
(y) for Awards that are subject to Section 409A of the Code, “disability” as defined in Section 409A(a)(2)(c) of the Code.

 

Section 2.23         “Dividend Equivalent” shall
mean the right to receive payments, in cash or in Shares, based on dividends paid with respect to Shares.

 

    5 

     

    

 

Section 2.24         “Effective Date” shall mean
the Closing Date (as defined in the Merger Agreement).

 

Section 2.25         “Eligible Representative”
for a Participant shall mean such Participant’s personal representative or such other person as is empowered under the deceased
Participant’s will or the then applicable laws of descent and distribution to represent the Participant hereunder.

 

Section 2.26         “Exchange Act” shall mean the Securities
Exchange Act of 1934, as amended.

 

Section 2.27         “Executive Officer” shall mean
each person who is an officer of the Company or any Subsidiary and who is subject to the reporting requirements under Section 16(a) of
the Exchange Act.

 

Section 2.28         “Fair Market Value” of a Share as of
any date of determination shall be:

 

(a)         If the Company Common Stock is listed on any established stock exchange or a national market system and transactions in the Common Stock
are available to the Company as of the immediately preceding trading date, then the closing price on such immediately preceding trading
date per Share as reported on such stock exchange or system shall be the Fair Market Value for the date of determination; or

 

(b)         If clause (a) shall not apply on any date of determination, then the Fair Market Value shall be determined in good faith by the Administrator
with reference to (x) the most recent valuation of the Company Common Stock performed by an independent valuation consultant or appraiser
of nationally recognized standing selected by the Administrator, if any, (y) sales prices of securities issued to investors in any recent
arm’s length transactions and (z) any other factors determined to be relevant by the Administrator.

 

Section 2.29         “Incentive Stock Option” shall
mean an Option which qualifies under Section 422 of the Code and is expressly designated as an Incentive Stock Option in the Award Agreement.

 

Section 2.30         “Non-Qualified Stock Option”
shall mean an Option which is not an Incentive Stock Option.

 

Section 2.31         “Non-U.S. Awards” shall have the meaning
set forth in Section 3.5.

 

Section 2.32         “Option” shall mean an option to purchase
Company Common Stock granted under the Plan. The term “Option” includes both an Incentive Stock Option and a Non-Qualified
Stock Option.

 

Section 2.33         “Option Price” shall have the meaning
set forth in Section 6.3.

 

Section 2.34         “Optionee” shall mean a Participant
to whom an Option or SAR is granted under the Plan.

 

Section 2.35         “Participant” shall mean any
Service Provider who has been granted an Award pursuant to the Plan.

 

    6 

     

    

 

Section 2.36         “Performance Award” shall mean
Performance Shares, Performance Units and all other Awards that vest (in whole or in part) upon the achievement of specified Performance
Goals.

 

Section 2.37         “Performance Cycle” shall mean
the period of time selected by the Administrator during which performance is measured for the purpose of determining the extent to which
a Performance Award has been earned or vested.

 

Section 2.38         “Performance Goals” means the
objectives established by the Administrator for a Performance Cycle pursuant to Section 9.5 for the purpose of determining the extent
to which a Performance Award has been earned or vested.

 

Section 2.39         “Performance Share”
means an Award granted pursuant to Article IX of the Plan of a contractual right to receive a Share (or the cash equivalent thereof) upon
the achievement, in whole or in part, of the applicable Performance Goals.

 

Section 2.40         “Performance Unit” means a
Dollar-denominated unit (or a unit denominated in the Participant’s local currency) granted pursuant to Article IX of the Plan,
payable upon the achievement, in whole or in part, of the applicable Performance Goals.

 

Section 2.41         “Person” shall mean an individual,
partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture,
governmental authority or any other entity of whatever nature.

 

Section 2.42         “Plan” shall have the meaning set forth
in Article I.

 

Section 2.43         [Intentionally Omitted]

 

Section 2.44         “Replacement Awards” shall mean Shares
issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by the Company
or any of its Subsidiaries.

 

Section 2.45         “Restricted Stock” shall mean an Award
granted pursuant to Section 8.1.

 

Section 2.46         “Restricted Stock Unit” shall mean
an Award granted pursuant to Section 8.2.

 

Section 2.47         “Returned MSIP Shares” shall
have the meaning set forth in Error! Reference source not found..

 

Section 2.48         “Securities Act” shall mean the Securities
Act of 1933, as amended.

 

Section 2.49         “Service Provider” shall mean
an Associate, Consultant or director of the Company or any of its Subsidiaries.

 

Section 2.50         “Share” shall mean a share of Company
Common Stock.

 

    7 

     

    

 

Section
2.51         “Stock Appreciation Right” or “SAR”
shall mean the right to receive a payment from the Company in cash and/or Shares equal to the product of (i) the excess, if any, of
the Fair Market Value of one Share on the exercise date over a specified price (the “Base Price”) fixed by the
Administrator on the grant date (which specified price shall not be less than the Fair Market Value of one Share on the grant date),
multiplied by (ii) a stated number of Shares.

 

Section 2.52         “Stock Incentive Plan” shall have the
meaning set forth in Article I.

 

Section 2.53         “Stock-Based Award” shall have the
meaning set forth in Section 11.1.

 

Section 2.54         “Stock Purchase Right” shall mean an
Award granted pursuant to Section 5.4.

 

Section 2.55         “Subplans” shall have the meaning set
forth in Section 3.5.

 

Section 2.56         “Subscription Agreement” shall
mean the agreement to be entered into between the Company and the Participant upon the issuance of Company Common Stock subject to an
Award establishing the rights and obligations of each of them relating to the Company Common Stock so issued to the Participant.

 

Section 2.57         “Subsidiary” shall mean any entity
that is directly or indirectly controlled by the Company or any entity in which the Company directly or indirectly has at least a 50%
equity interest; provided that, to the extent required under Section 422 of the Code when granting an Incentive Stock Option, “Subsidiary”
shall mean any corporation in an unbroken chain of corporations beginning with such entity if each of the corporations other than the
last corporation in the unbroken chain then owns stock possessing 50% or more of the total combined voting power of all classes of stock
in one of the other corporations in such chain.

 

Section 2.58         “Termination of employment,”
 “termination of service” and any corollary or similar term or terms shall mean (x), with respect to a director who
is not an Associate of the Company or any of its Subsidiaries, the date upon which such director ceases to be a member of the Board or
the board of directors of any of the Company’s Subsidiaries, as applicable; (y) with respect to a Consultant who is not an Associate
of the Company or any of its Subsidiaries, the date upon which such Consultant ceases to provide consulting or advisory services to the
Company or any of its Subsidiaries; and (z), with respect to an Associate, the date the Participant ceases to be an Associate; provided,
that, with respect to any Award subject to Section 409A of the Code, such terms shall mean a “separation from service,”
as defined in Section 409A of the Code and the rules, regulations and guidance promulgated thereunder.

 

Section 2.59          “Withholding Taxes” shall mean the
statutory minimum of any federal, state, local or foreign income taxes, withholding taxes or employment taxes required to be withheld
under Applicable Law.

 

ARTICLE III

 

ADMINISTRATION

 

Section 3.1         Administrator. The Plan shall be administered
by the Board or an Administrator appointed by the Board, which Administrator, unless otherwise determined by the Board, shall be constituted
to comply with Applicable Laws, including, without limitation, Section 16 of the Exchange Act and Section 162(m) of the Code, to the
extent applicable.

 

    8 

     

    

 

Section 3.2           Powers of the Administrator. Subject to
the provisions of the Plan and, in the case of a committee, the specific duties delegated by the Board to such Administrator, and subject
to the approval of any relevant authorities, the Administrator shall have the authority in its discretion to:

 

 (a)          determine the Fair Market Value;

 

 (b)          determine the type or types of Awards to be granted to each Participant;

 

(c)          select the Service Providers to whom Awards may from time to time be granted hereunder;

 

(d)         determine the number of Awards to be granted and the number of Shares to which an Award will relate;

 

(e)         approve forms of agreement for use under the Plan, which need not be identical for each Service Provider;

 

(f)          determine the terms and conditions of any Awards granted hereunder (including, without limitation, the exercise price, the time or times
when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions
and any restriction or limitation regarding any Awards or the Company Common Stock relating thereto) based in each case on such factors
as the Administrator, in its sole discretion, shall determine;

 

(g)         determine all matters and questions related to the termination of service of a Service Provider with respect to any Award granted to him
or her hereunder, including, but not by way of limitation of, all questions of whether a particular Service Provider has taken a leave
of absence, all questions of whether a leave of absence taken by a particular Service Provider constitutes a termination of service, and
all questions of whether a termination of service of a particular Service Provider resulted from discharge for Cause;

 

(h)         prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to Subplans established
for the purpose of satisfying applicable foreign laws;

 

(i)          determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise or purchase price of
an Award may be paid in, cash, Company Common Stock, other Awards, or other property, or an Award may be canceled, forfeited or surrendered;

 

 (j)          suspend or accelerate the vesting of any Award granted under the Plan;

 

(k)          construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; and

 

(l)           make all other decisions and determinations that may
be required pursuant to the Plan or as the Administrator deems necessary or advisable to administer the Plan.

 

    9 

     

    

 

Any determination made by the Administrator under the Plan,
including, without limitation, under Section 4.3, shall be final, binding and conclusive on all Participants and other persons having
or claiming any right or interest under the Plan.

 

Section 3.3           Delegation by the Administrator. The Administrator
may delegate, subject to such terms or conditions or guidelines as it shall determine, to any officer or group of officers, or director
or group of directors of the Company or its Affiliates any portion of its authority and powers under the Plan with respect to Participants
who are not Executive Officers; provided, that any delegation to one or more officers of the Company shall be subject to and comply
with Section 157(c) of the Delaware General Corporation Law (or successor or foreign equivalent provision to the extent applicable).
In addition, (i) with respect to any Award intended to qualify as “performance-based” compensation under Section 162(m) of
the Code, the Administrator shall mean the Compensation Committee of the Board or such other committee or subcommittee of the Board or
the Compensation Committee as the Board or the Compensation Committee of the Board shall designate, consisting of two or more members,
each of whom is an “outside director” within the meaning of Section 162(m) of the Code and (ii) with respect to any Award
intended to qualify for the exemption contained in Rule 16b-3 promulgated under the Exchange Act, the Administrator shall consist solely
two or more “non-employee directors” within the meaning of such Rule, or, in the alternative, the entire Board.

 

Section 3.4           Compensation, Professional Assistance, Good Faith Actions.
The Administrator may receive such compensation for its services hereunder as may be determined by the Board. All expenses and liabilities
incurred by the Administrator in connection with the administration of the Plan shall be borne by the Company. The Administrator may,
in its sole discretion, elect to engage the services of attorneys, consultants, accountants, appraisers, brokers or other persons. The
Administrator, the Company and its officers and Directors shall be entitled to rely upon the advice, opinions or valuations of any such
persons. All actions taken and all interpretations, decisions and determinations made by the Administrator, in good faith shall be final
and binding upon all Participants, the Company and all other interested persons. The Administrator’s determinations under the Plan
need not be uniform and may be made by the Administrator selectively among persons who receive, or are eligible to receive, Awards under
the Plan, whether or not such persons are similarly situated. The Administrator (and its members) shall not be personally liable for any
action, determination or interpretation made with respect to the Plan or the Awards, and the Administrator (and its members) shall be
fully protected by the Company with respect to any such action, determination or interpretation.

 

Section
3.5           Participants Based Outside the United States. To conform
with the provisions of local laws and regulations, or with local compensation practices and policies, in foreign countries in which
the Company or any of its Subsidiaries or Affiliates operate, but subject to the limitations set forth herein regarding the maximum
number of shares issuable hereunder and the maximum award to any single Participant, the Administrator may (i) modify the terms and
conditions of Awards granted to Participants employed outside the United States (“Non-U.S. Awards”), (ii)
establish subplans with such modifications as may be necessary or advisable under the circumstances (“Subplans”)
and (iii) take any action which it deems advisable to obtain, comply with or otherwise reflect any necessary governmental regulatory
procedures, exemptions or approvals with respect to the Plan. The Administrator’s decision to grant Non-U.S. Awards or to
establish Subplans is entirely voluntary, and at the complete discretion of the Administrator.  The Administrator may amend,
modify or terminate any Subplans at any time, and such amendment, modification or termination may be made without prior notice to
the Participants. The Company, Subsidiaries, Affiliates and members of the Administrator shall not incur any liability of any kind
to any Participant as a result of any change, amendment or termination of any Subplan at any time. The benefits and rights provided
under any Subplan or by any Non-U.S. Award (x) are wholly discretionary and, although provided by either the Company, a Subsidiary
or Affiliate, do not constitute regular or periodic payments and (y) except as otherwise required under Applicable Laws, are not to
be considered part of the Participant’s salary or compensation under the Participant’s employment with the
Participant’s local employer for purposes of calculating any severance, resignation, redundancy or other end of service
payments, vacation, bonuses, long-term service awards, indemnification, pension or retirement benefits, or any other payments,
benefits or rights of any kind. If a Subplan is terminated, the Administrator may direct the payment of Non-U.S. Awards (or direct
the deferral of payments whose amount shall be determined) prior to the dates on which payments would otherwise have been made, and,
in the Administrator’s discretion, such payments may be made in a lump sum or in installments.

 

    10 

     

    

 

ARTICLE IV

 

SHARES SUBJECT TO PLAN

 

Section 4.1           Shares Subject to Plan.

 

(a)         No Award (other than an Assumed Award) shall be granted
under the Plan to the extent that the result of that grant would be that the aggregate number of Shares that could be issued pursuant
to that Award and any other Award granted at the same time, when added to the number of Shares that:

 

(i)          could be issued pursuant to any subsisting awards or options granted during the preceding ten years under the Plan or any other employees’
share scheme established by the Company; and

 

(ii)         have been issued pursuant to any awards or options granted during the preceding ten years under the Plan or any other employees’
share scheme established by the Company,

 

would exceed 10 per cent of the ordinary share capital
of the Company for the time being in issue.

 

(b)         No Award (other than an Assumed Award) shall be granted
under the Plan to the extent that the result of that grant would be that the aggregate number of Shares that could be issued pursuant
to that Award and any other Award granted at the same time, when added to the number of Shares that:

 

    11 

     

    

 

(i)          could be issued pursuant to any subsisting awards or options granted during the preceding ten years under the Plan or any other discretionary
share plans adopted by the Company; and

 

(ii)         have been issued pursuant to any awards or options granted during the preceding ten years under the Plan or any other discretionary share
plans adopted by the Company,

 

would exceed 5 per cent of the ordinary share capital
of the Company for the time being in issue.

 

(c)         Reference in this Section to the issue of Shares shall,
for the avoidance of doubt, mean the issue and allotment but not the transfer of Shares. Transfers of treasury shares shall also count
towards the percentage limits set out in this Section for so long as UK institutional shareholder guidelines recommend this. In determining
the above limits no account shall be taken of any Shares attributable to an Assumed Award or an Award which was released, lapsed, forfeited
or otherwise became incapable of realization.

 

Section 4.2           Awards (other than any Assumed Awards) shall be
subject to any limitations on the number of Shares underlying Awards which may be granted to an individual Participant in a calendar year,
as may be established by the Administrator from time to time.

 

Section 4.3           Changes in Company Common Stock; Disposition of Assets
and Corporate Events.

 

(a)         If and to the extent necessary or appropriate to reflect any stock dividend, extraordinary dividend, rights issue, stock split or share
combination or any recapitalization, merger, consolidation, exchange of shares, spin-off, liquidation or dissolution of the Company or
other similar transaction affecting the Company Common Stock (each, a “Corporate Event”), the Administrator shall adjust
the number of shares of Company Common Stock available for issuance under the Plan and the number, class and exercise price of any outstanding
Award, and/or make such substitution, revision or other provisions or take such other actions with respect to any outstanding Award or
the holder or holders thereof, in each case as it determines to be equitable to prevent the diminution or enlargement of the rights of
the Company and Participants hereunder by reason of such Corporate Event. Without limiting the generality of the foregoing sentence, in
the event of any such transaction, the Administrator shall have the power to make such changes as it deems appropriate in (i) the number
and type of shares or other securities covered by outstanding Awards, (ii) the prices specified therein (if applicable), (iii) the securities,
cash or other property to be received upon the exercise, settlement or conversion of such outstanding Awards or otherwise to be received
in connection with such outstanding Awards and (iv) any applicable Performance Goals. After any adjustment made by the Administrator pursuant
to this Section 4.3, the number of shares subject to each outstanding Award shall be rounded down to the nearest whole number.

 

(b)         Any adjustment of an Award pursuant to this Section 4.3 shall be effected in compliance with Section 422 and 409A of the Code to the extent
applicable.

 

    12 

     

    

 

Section 4.4           Award Agreement Provisions. The Administrator
may include such further provisions and limitations in any Award Agreement as it may deem equitable and in the best interests of the
Company and its Subsidiaries.

 

Section 4.5           Prohibition Against Repricing. Except to
the extent (i) approved in advance by holders of a majority of the Shares entitled to vote generally in the election of directors or
(ii) pursuant to Section 4.3 as a result of any Corporate Event, the Administrator shall not have the power or authority to reduce, whether
through amendment or otherwise, the exercise price of any outstanding Option or Base Price of any outstanding SAR or to grant any new
Award, or make any cash payment, in substitution for or upon the cancellation of Options or SARs previously granted.

 

ARTICLE V

 

GRANTING OF OPTIONS
AND SARS 

AND SALE OF COMPANY COMMON STOCK

 

Section 5.1           Eligibility. Non-Qualified Stock Options
and SARs may be granted to Service Providers. Subject to Section 5.2, Incentive Stock Options may only be granted to Associates.

 

Section 5.2           Qualification
of Incentive Stock Options. No Associate may be granted an Incentive Stock Option under the Plan if such Associate, at the time the Incentive
Stock Option is granted, owns stock possessing more than ten (10) percent of the total combined voting power of all classes of stock
of the Company or any then existing Subsidiary of the Company or “parent corporation” (within the meaning of Section 424(e)
of the Code) unless such Incentive Stock Option conforms to the applicable provisions of Section 422 of the Code.

 

Section 5.3           Granting
of Options and SARs to Service Providers.

 

(a)         Options
and SARs. The Administrator may from time to time:

 

(i)           Select
from among the Service Providers (including those to whom Options or SARs have been previously granted under the Plan) such of them as
in its opinion should be granted Options and/or SARs;

 

(ii)          Determine
the number of Shares to be subject to such Options and/or SARs granted to such Service Provider, and determine whether such Options are
to be Incentive Stock Options or Non-Qualified Stock Options; and

 

(iii)         Determine
the terms and conditions of such Options and SARs, consistent with the Plan.

 

(b)         SARs
may be granted in tandem with Options or may be granted on a freestanding basis, not related to any Option. Unless otherwise determined
by the Administrator at the grant date or determined thereafter in a manner more favorable to the Participant, SARs granted in tandem
with Options shall have substantially similar terms and conditions to such Options to the extent applicable, or may be granted on a freestanding
basis, not related to any Option.

 

    13 

     

    

 

(c)         Upon
the selection of a Service Provider to be granted an Option or SAR under this Section 5.3, the Administrator shall issue, or shall instruct
an authorized officer to issue, such Option or SAR and may impose such conditions on the grant of such Option or SAR as it deems appropriate.
Subject to Section 15.2 of the Plan, any Incentive Stock Option granted under the Plan may be modified by the Administrator, without
the consent of the Optionee, even if such modification would result in the disqualification of such Option as an “incentive stock
option” under Section 422 of the Code.

 

Section 5.4           Sale of Company Common Stock to Service Providers.
The Administrator, acting in its sole discretion, may from time to time designate one or more Service Providers to whom an offer
to sell Shares shall be made and the terms and conditions thereof, provided, however, that the price per Share shall not be less than
the Fair Market Value of such Shares on the date any such offer is accepted. Each Share sold to a Service Provider under this Section
5.4 shall be evidenced by a Subscription Agreement in a form approved by the Administrator, which shall contain terms consistent with
the terms hereof. Any Shares sold under this Section 5.4 shall be subject to the same limitations, restrictions and administration hereunder
as would apply to any Shares issued pursuant to the exercise of an Option under this Plan including, without limitation, conditions and
restrictions set forth in Sections 7.6 and 7.7 below. Unless otherwise determined by the Administrator, Shares acquired pursuant to this
Section 5.4 shall also be subject to the terms and conditions of a Subscription Agreement, which shall be executed by the Participant
and an authorized officer.

 

ARTICLE VI

 

TERMS OF OPTIONS AND SARS

 

Section 6.1            Award Agreement. Each Option and each SAR
shall be evidenced by a written Award Agreement, which shall be executed by the Optionee and an authorized officer and which shall contain
such terms and conditions as the Administrator shall determine, consistent with the Plan. Award Agreements evidencing Incentive Stock
Options shall contain such terms and conditions as may be necessary to qualify such Options as “incentive stock options” under
Section 422 of the Code.

 

Section 6.2           Exercisability
and Vesting of Options and SARs.

 

(a)         Each Option and SAR shall vest and become exercisable according to the terms of the applicable Award Agreement; provided, however, that
by a resolution adopted after an Option or SAR is granted the Administrator may, on such terms and conditions as it may determine to be
appropriate, accelerate the time at which such Option or SAR or any portion thereof may be exercised.

 

(b)        Except
as otherwise provided by the Administrator or in the applicable Award Agreement, no portion of an Option or SAR which is unexercisable
on the date that an Optionee incurs a termination of service as a Service Provider shall thereafter become exercisable.

 

    14 

     

    

 

(c)        The aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Stock
Options are first exercisable by a Service Provider in any calendar year may not exceed $100,000 or such other limitation as imposed by
Section 422(d) of the Code, or any successor provision. To the extent that Incentive Stock Options are first exercisable by a Participant
in excess of such limitation, the excess shall be considered Non-Qualified Stock Options.

 

(d)         SARs granted in tandem with an Option shall become vested and exercisable on the same date or dates as the Options with which such SARs
are associated vest and become exercisable. SARs that are granted in tandem with an Option may only be exercised upon the surrender of
the right to exercise such Option for an equivalent number of Shares, and may be exercised only with respect to the Shares for which the
related Option is then exercisable.

 

Section 6.3           Option Price and Base Price. Excluding
Replacement Awards, the per Share purchase price of the Shares subject to each Option (the “Option Price”) and the
Base Price of each SAR shall be set by the Administrator and shall be not less than 100% of the Fair Market Value of such Shares on the
date such Option or SAR is granted.

 

Section 6.4           Expiration of Options and SARs. No Option
or SAR may be exercised after the first to occur of the following events:

 

 (a)         The expiration of ten (10) years from the date the Option or SAR was granted; or

 

(b)         With respect to an Incentive Stock Option in the case of an Optionee owning (within the meaning of Section 424(d) of the Code), at the
time the Incentive Stock Option was granted, more than 10% of the total combined voting power of all classes of stock of the Company or
any Subsidiary, the expiration of five (5) years from the date the Incentive Stock Option was granted.

 

ARTICLE VII

 

EXERCISE OF OPTIONS AND SARS

 

Section 7.1           Person Eligible to Exercise. During the
lifetime of the Optionee, only the Optionee may exercise an Option or SAR (or any portion thereof) granted to him or her; provided,
however, that the Optionee’s Eligible Representative may exercise his or her Option or SAR or portion thereof during the period
of the Optionee’s Disability. After the death of the Optionee, any exercisable portion of an Option or SAR may, prior to the time
when such portion becomes unexercisable under the Plan or the applicable Award Agreement, be exercised by his or her Eligible Representative.

 

    15 

     

    

 

 

Section 7.2       Partial Exercise. At any time and from
time to time prior to the date on which the Option or SAR becomes unexercisable under the Plan or the applicable Award Agreement,
the exercisable portion of an Option or SAR may be exercised in whole or in part; provided, however, that the Company shall
not be required to issue fractional Shares and the Administrator may, by the terms of the Option or SAR, require any partial
exercise to exceed a specified minimum number of Shares.

 

Section 7.3       Manner of Exercise. Subject to any generally applicable
conditions or procedures that may be imposed by the Administrator, an exercisable Option or SAR, or any exercisable portion thereof, may
be exercised solely by delivery to the Administrator or its designee of all of the following prior to the time when such Option or SAR
or such portion becomes unexercisable under the Plan or the applicable Award Agreement:

 

(a)     
Notice in writing signed by the Optionee or his or her Eligible Representative, stating that such Option or SAR or portion is being exercised,
and specifically stating the number of Shares with respect to which the Option or SAR is being exercised (which form of notice shall be
provided by the Administrator upon request and may be electronic);

 

(b)     
A copy of the Subscription Agreement in use by the Company at the time of exercise (which shall be provided by the Administrator upon
request);

 

(c)     
(i) With respect to the exercise of any Option, full payment (in cash (through wire transfer only) or by personal, certified, or bank
cashier check) of the aggregate Option Price of the Shares with respect to which such Option (or portion thereof) is thereby exercised;
or

 

(ii)        
With the consent of the Administrator, (A) Shares owned by the Optionee duly endorsed for transfer to the Company or (B) Shares issuable
to the Optionee upon exercise of the Option, with a Fair Market Value on the date of Option exercise equal to the aggregate Option Price
of the Shares with respect to which such Option (or portion thereof) is thereby exercised; or

 

(iii)       
With the consent of the Administrator, payment of the Option Price through a broker-assisted cashless exercise program established by
the Company; or

 

(iv)       
With the consent of the Administrator, any form of payment of the Option Price permitted by Applicable Laws and any combination of the
foregoing methods of payment.

 

(d)     
Full payment to the Company (in cash or by personal, certified or bank cashier check or by any other means of payment approved by the
Administrator) of all minimum amounts necessary to satisfy any and all Withholding Taxes arising in connection with the exercise of the
Option or SAR (notice of the amount of which shall be provided by the Administrator as soon as practicable following receipt by the Administrator
of the notice of exercise);

 

(e)     
Such representations and documents as the Administrator deems necessary or advisable to effect compliance with all applicable
provisions of the Securities Act and any other federal or state securities laws or regulations. The Administrator shall provide the
Optionee or Eligible Representative with all such representations and documents as soon as practicable following receipt by the
Administrator of the notice of exercise. The Administrator may, in its sole discretion, also take whatever additional actions it
deems appropriate to effect such compliance including, without limitation, issuing stop-transfer orders to transfer agents and
registrars; and

 

(f)       In the event that the Option or SAR or portion thereof
shall be exercised as permitted under Section 7.1 by any person or persons other than the Optionee, appropriate proof of the right of
such person or persons to exercise the Option or SAR or portion thereof.

 

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Section 7.4       Exercise by the Administrator. If an Optionee has
not exercised an Option immediately prior to the expiration of such Option and the Fair Market Value on the date of expiration exceeds
the Option Price of such Option, the Administrator may, in its sole discretion, exercise the Option on behalf of the Optionee by causing
the exercise price to be paid through a broker-assisted cashless exercise program established by the Company. For the avoidance of doubt,
the Administrator will not be required to obtain the Optionee’s consent prior such exercise.

 

Section 7.5       Optionee Representations. The Administrator,
in its sole discretion, may require an Optionee to make certain representations or acknowledgements, on or prior to the purchase of any
Shares pursuant to any Option or SAR granted under this Plan, in respect thereof including, without limitation, that the Optionee is acquiring
the Shares for an investment purpose and not for resale, and, if the Optionee is an Affiliate, additional acknowledgements regarding when
and to what extent any transfers of such Shares may occur.

 

Section 7.6       Settlement of SARs. Unless otherwise determined
by the Administrator, upon exercise of a SAR, the Participant shall be entitled to receive payment in the form, determined by the Administrator,
of Shares, or cash, or a combination of Shares and cash having an aggregate value equal to the amount determined by multiplying:

 

(a)     
any increase in the Fair Market Value of one Share on the exercise date over the Base Price of such SAR, by

 

 (b)      the number of Shares with respect to which the SAR is exercised;

 

provided, however, that on the grant date, the Administrator
may establish, in its sole discretion, a maximum amount per Share that may be payable upon exercise of a SAR, and provided, further,
that in no event shall the value of the Company Common Stock or cash delivered on exercise exceed the excess of the Fair Market Value
of the Shares with respect to which the SAR is exercised over the Fair Market Value of such Shares on the grant date of such SAR.

 

Section 7.7       Conditions to Issuance of Shares. The Company
shall evidence the issuance of Shares delivered upon exercise of an Option or SAR in the books and records of the Company or in a manner
determined by the Company. Notwithstanding the above, the Company shall not be required to effect the issuance of any Shares purchased
upon the exercise of any Option or SAR or portion thereof prior to fulfillment of all of the following conditions:

 

(a)     
The admission of such Shares to listing on any and all stock exchanges on which such class of Company Common Stock is then listed;

 

(b)     
The completion of any registration or other qualification of such Shares under any state or federal law or under the rulings or regulations
of the Securities and Exchange Commission or any other governmental regulatory body, which the Administrator shall, in its sole discretion,
deem necessary or advisable;

 

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(c)     
The obtaining of any approval or other clearance from any state or federal governmental agency which the Administrator shall, in its sole
discretion, determine to be necessary or advisable; and

 

(d)     
The payment to the Company (or its Subsidiary, as applicable) of all amounts which it is required to withhold under Applicable Law in
connection with the exercise of the Option or SAR.

 

The Administrator shall not have any liability to any Optionee
for any delay in the delivery of Shares to be issued upon an Optionee’s exercise of an Option or SAR.

 

Section 7.8       Rights as Stockholders. The holder of an
Option or SAR shall not be, nor have any of the rights or privileges of, a stockholder of the Company in respect of any Shares purchasable
upon the exercise of any part of an Option or SAR unless and until such holder has signed the Subscription Agreement provided by the
Administrator and the Shares attributable to the exercise of the Option or SAR have been issued by the Company to such holder.

 

Section 7.9       Transfer Restrictions. Shares acquired upon
exercise of an Option or SAR shall be subject to the terms and conditions of the Subscription Agreement. In addition, the Administrator,
in its sole discretion, may set forth in an Award Agreement such further restrictions on the transferability of the Shares purchasable
upon the exercise of an Option or SAR as it deems appropriate. Any such restriction may be referred to in the Share register maintained
by the Company or otherwise in a manner reflecting its applicability to the Shares. The Administrator may require the Associate to give
the Company prompt notice of any disposition of Shares acquired by exercise of an Incentive Stock Option, within two (2) years from the
date of granting such Option or one (1) year after the transfer of such Shares to such Associate. The Administrator may cause the Share
register maintained by the Company to refer to such requirement.

 

ARTICLE VIII

 

RESTRICTED STOCK AWARDS AND RESTRICTED STOCK UNIT AWARDS

 

Section 8.1       Restricted Stock.

 

(a)      Grant of Restricted Stock. The Administrator
is authorized to make Awards of Restricted Stock to any Service Provider selected by the Administrator in such amounts and subject to
such terms and conditions as determined by the Administrator. All Awards of Restricted Stock shall be evidenced by an Award Agreement.

 

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(b)     
Issuance and Restrictions. Restricted Stock shall be subject to such restrictions on transferability and other restrictions as
the Administrator may impose (including, without limitation, limitations on the right to vote Restricted Stock or the right to receive
dividends on the Restricted Stock). These restrictions may lapse separately or in combination at such times, pursuant to such circumstances,
in such installments, or otherwise, as the Administrator determines at the time of the grant of the Award and specified in the Award Agreement
or otherwise in writing or determined thereafter in a manner more favorable to a Participant. The Administrator shall specify the purchase
price, if any, to be paid by the grantee to the Company for such Shares.

 

(c)    
Issuance of Restricted Stock. The issuance of Restricted Stock granted pursuant to the Plan may be evidenced in such manner as
the Administrator shall determine.

 

Section 8.2       Restricted Stock Units. The Administrator
is authorized to make Awards of Restricted Stock Units to any Service Provider selected by the Administrator in such amounts and subject
to such terms and conditions as determined by the Administrator. At the time of grant, the Administrator shall specify the date or dates
on which the Restricted Stock Units shall become fully vested and nonforfeitable, and may specify such conditions to vesting as it deems
appropriate. At the time of grant, the Administrator shall specify the settlement date applicable to each grant of Restricted Stock Units
which shall be no earlier than the vesting date or dates of the Award and may be determined at the election of the grantee. On the settlement
date, the Company shall, subject to the terms of this Plan, issue to the Participant one Share for each Restricted Stock Unit scheduled
to be paid out on such date and not previously forfeited. The Administrator shall specify the purchase price, if any, to be paid by the
grantee to the Company for such Shares.

 

Section 8.3       Rights as a Stockholder. A Participant shall
not be, nor have any of the rights or privileges of, a stockholder of the Company in respect of Restricted Stock Units awarded pursuant
to the Plan unless and until such Participant has signed the Subscription Agreement provided by the Administrator and the Shares attributable
to such Restricted Stock Units have been issued to such Participant.

 

ARTICLE IX

 

PERFORMANCE SHARES AND PERFORMANCE UNITS

 

Section 9.1       Grant of Performance Awards. The Administrator is
authorized to make Awards of Performance Shares and Performance Units to any Participant selected by the Administrator in such amounts
and subject to such terms and conditions as determined by the Administrator. All Performance Shares and Performance Units shall be evidenced
by an Award Agreement.

 

Section 9.2       Issuance and Restrictions. The Administrator
shall have the authority to determine the Participants who shall receive Performance Shares and Performance Units, the number of Performance
Shares and the number and value of Performance Units each Participant receives for any Performance Cycle, and the Performance Goals applicable
in respect of such Performance Shares and Performance Units for each Performance Cycle. The Administrator shall determine the duration
of each Performance Cycle (and the duration of Performance Cycles may differ from one another), and there may be more than one Performance
Cycle in existence at any one time. An Award Agreement evidencing the grant of Performance Shares or Performance Units shall specify
the number of Performance Shares and the number and value of Performance Units awarded to the Participant, the Performance Goals applicable
thereto, and such other terms and conditions not inconsistent with the Plan as the Administrator shall determine. No Company Common Stock
will be issued at the time an Award of Performance Shares is made, and the Company shall not be required to set aside a fund for the
payment of Performance Shares or Performance Units.

 

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Section 9.3       Earned Performance Shares and Performance Units.
Performance Shares and Performance Units shall become earned, in whole or in part, based upon the attainment of specified Performance
Goals or the occurrence of any event or events, as the Administrator shall determine, either in an Award Agreement or thereafter on terms
more favorable to the Participant to the extent consistent with Section 162(m). In addition to the achievement of the specified Performance
Goals, the Administrator may condition payment of Performance Shares and Performance Units on such other conditions as the Administrator
shall specify in an Award Agreement. The Administrator may also provide in an Award Agreement for the completion of a minimum period of
service (in addition to the achievement of any applicable Performance Goals) as a condition to the vesting of any Performance Share or
Performance Unit Award.

 

Section 9.4       Rights as a Stockholder. A Participant shall
not be, nor have any of the rights or privileges of, a stockholder of the Company in respect of Performance Shares or Performance Units
awarded pursuant to the Plan unless and until such Participant has signed the Subscription Agreement provided by the Administrator and
the Shares attributable to such Performance Shares or Performance Units have been issued to such Participant.

 

Section
9.5       Performance Goals. The Administrator shall establish the Performance Goals that
must be satisfied in order for a Participant to receive an Award for a Performance Period or for an Award of Performance Shares or
Performance Units to be earned or vested. At the discretion of the Administrator, the Performance Goals may be based upon (alone or
in combination): (a) cash flow, (b) free cash flow, (c) revenue, (d) gross profit, (e) gross profit margin, (f) earnings before
income taxes, (g) net income, (h) earnings per share, (i) earnings before interest, taxes, depreciation and amortization
(“EBITDA”), (j) net income (loss) before: income (loss) from discontinued operations, net of income taxes;
provision (benefit) for income taxes; gain (loss) on extinguishment of debt; interest expense; depreciation and amortization
expense; non-cash goodwill and trade name impairment; residual value guarantee charge; non-cash impairment of software and other
related costs; non-cash impairment of property and equipment; non-cash stock-based compensation expense; restructuring charges;
management and consulting fees; non-cash effects attributable to the application of purchase accounting and other non-operating
expenses (“Adjusted EBITDA”), (k) return on equity, (l) return on invested capital, (m) customer count, (n) stock
price, (o) total shareholder return or (p) customer retention; or, for any period of time in which Section 162(m) is not applicable
to the Company and the Plan, or at any time in the case of (A) persons who are not “covered employees” under Section
162(m) of the Code or (B) Awards (whether or not to “covered employees”) not intended to qualify as performance-based
compensation under Section 162(m), such other criteria as may be determined by the Administrator. Performance Goals may be
established on a Company-wide basis or with respect to one or more business units, divisions, Subsidiaries, or products and may be
expressed in absolute terms, or relative to (i) current internal targets or budgets, (ii) the past performance of the Company
(including the performance of one or more Subsidiaries, divisions, or operating units), (iii) the performance of one or more
similarly situated companies, (iv) the performance of an index covering a peer group of companies, or (v) other external measures of
the selected performance criteria. Any performance objective may measure performance on an individual basis, as appropriate. The
Administrator may provide for a threshold level of performance below which no Shares or compensation will be granted or paid in
respect of Performance Shares or Performance Units, and a maximum level of performance above which no additional Shares or
compensation will be granted or paid in respect of Performance Shares or Performance Units, and it may provide for differing amounts
of Shares or compensation to be granted or paid in respect of Performance Shares or Performance Units for different levels of
performance. When establishing Performance Goals for a Performance Cycle, the Administrator may determine that any or all
 “extraordinary items” as determined under U.S. generally accepted accounting principles and as identified in the
financial statements, notes to the financial statements or management’s discussion and analysis in the annual report,
including, without limitation, the charges or costs associated with restructurings of the Company, discontinued operations,
extraordinary items, capital gains and losses, dividends, Share repurchases, other unusual or non-recurring items, and the
cumulative effects of accounting changes shall be excluded from the determination as to whether the Performance Goals have been met.
Except in the case of Awards to “covered employees” intended to qualify as performance-based compensation under Section
162(m) of the Code, the Administrator may also adjust the Performance Goals for any Performance Cycle as it deems equitable in
recognition of unusual or non-recurring events affecting the Company, changes in applicable tax laws or accounting principles, or
such other factors as the Administrator may determine.

 

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Section 9.6       [Intentionally Omitted]

 

Section 9.7       Negative Discretion. Notwithstanding anything
in this Article IX to the contrary, the Administrator shall have the right, in its absolute discretion, (i) to reduce or eliminate the
amount otherwise payable to any Participant under Section 9.9 based on individual performance or any other factors that the Administrator,
in its discretion, shall deem appropriate and (ii) to establish rules or procedures that have the effect of limiting the amount payable
to each Participant to an amount that is less than the maximum amount otherwise authorized under the Award or under the Plan.

 

Section
9.8       Affirmative Discretion. Notwithstanding any other provision in the Plan to the
contrary, but subject to the maximum number of Shares available for issuance under Article IV of the Plan, (i) the Administrator
shall have the right, in its discretion, to grant an Award in cash, Shares or other Awards, or in any combination thereof, to any
Participant (except for Awards intended to qualify as performance-based compensation under Section 162(m) of the Code, to the extent
Section 162(m) of the Code is applicable to the Company and the Plan) in a greater amount than would apply under the applicable
Performance Goals, based on individual performance or any other criteria that the Administrator deems appropriate and (ii) in
connection with the hiring of any person who is or becomes a “covered employee” as defined in Section 162(m)(3) of the
Code, the Administrator may provide for a minimum bonus amount in any Performance Cycle, regardless of whether the Performance Goals
are attained. Notwithstanding any provision of the Plan to the contrary, in no event shall the Administrator have, or exercise,
discretion with respect to a Performance Award intended to qualify as performance-based compensation under Section 162(m) of the
Code if such discretion or the exercise thereof would cause such qualification not to be available.

 

Section 9.9       Certification of Attainment of Performance Goals.
As soon as practicable after the end of a Performance Cycle and prior to any payment or vesting in respect of such Performance Cycle,
the Administrator shall certify in writing the number of Performance Shares or other Performance Awards and the number and value of Performance
Units that have been earned or vested on the basis of performance in relation to the established Performance Goals.

 

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Section 9.10     Payment of Awards. Payment or delivery of Company
Common Stock with respect to earned Performance Shares and earned Performance Units shall be made to the Participant or, if the Participant
has died, to the Participant’s Eligible Representative, as soon as practicable after the expiration of the Performance Cycle and
the Administrator’s certification under Section 9.9 above and (unless an applicable Award Agreement shall set forth one or more
other dates) in any event no later than the earlier of (i) ninety (90) days after the end of the fiscal year in which the Performance
Cycle has ended and (ii) ninety (90) days after the expiration of the Performance Cycle. The Administrator shall determine and set forth
in the applicable Award Agreement whether earned Performance Shares and the value of earned Performance Units are to be distributed in
the form of cash, Shares or in a combination thereof, with the value or number of Shares payable to be determined based on the Fair Market
Value of the Company Common Stock on the date of the Administrator’s certification under Section 9.9 above or such other date specified
in the Award Agreement. The Administrator may set forth in an Award Agreement conditions with respect to the award or delivery of Shares,
including conditioning the vesting of such Shares on the performance of additional service.

 

Section 9.11     Newly Eligible Participants. Notwithstanding
anything in this Article IX to the contrary, the Administrator shall be entitled to make such rules, determinations and adjustments as
it deems appropriate with respect to any Participant who becomes eligible to receive Performance Shares, Performance Units or other Performance
Awards after the commencement of a Performance Cycle.

 

ARTICLE X

 

DEFERRED SHARE UNITS

 

Section 10.1     Grant. The Administrator is
authorized to make awards of Deferred Share Units to any Participant selected by the Administrator at such time or times as shall be
determined by the Administrator without regard to any election by the Participant to defer receipt of any compensation or bonus
amount payable to him. The grant date of any freestanding Deferred Share Unit under the Plan will be the date on which such
freestanding Deferred Share Unit is awarded by the Administrator or on such other future date permitted by Applicable Laws as the
Administrator shall determine in its sole discretion. Upon the grant of Deferred Share Units pursuant to the Plan, the Company shall
establish a notional account for the Participant and shall record in such account the number of Deferred Share Units awarded to the
Participant. No Shares will be issued to the Participant at the time an award of Deferred Share Units is granted. Subject to Article
III and Applicable Laws (including Section 409A of the Code), Deferred Share Units may become payable on a Corporate Event,
termination of employment or on a specified date or dates set forth in the Award Agreement evidencing such Deferred Share Units.

 

Section 10.2     Rights as a Stockholder. A Participant
shall not be, nor have any of the rights and privileges of, a stockholder of the Company in respect of Deferred Share Units awarded pursuant
to the Plan unless and until such Participant has signed the Subscription Agreement provided by the Administrator and the Shares attributable
to such Deferred Share Units have been issued to such Participant.

 

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Section 10.3     Vesting. Unless the Administrator provides
otherwise at the grant date or provides thereafter in a manner more favorable to the Participant, Deferred Share Units shall be fully
vested and nonforfeitable when granted.

 

Section 10.4     Further Deferral Elections. A Participant may elect
to further defer receipt of Shares issuable in respect of Deferred Share Units (or an installment of an Award) for a specified period
or until a specified event and in a manner consistent with Section 409A of the Code, subject in each case to the Administrator’s
approval and to such terms as are determined by the Administrator, all in its sole discretion. Subject to any exceptions adopted by the
Administrator pursuant to Applicable Laws, such election must generally be made at least twelve (12) months prior to the prior settlement
date of such Deferred Share Units (or any such installment thereof) and must defer settlement for at least five (5) years after such
prior settlement date. A further deferral opportunity need not be made available to all Participants, and different terms and conditions
may apply with respect to the further deferral opportunities made available to different Participants.

 

Section 10.5     Settlement. Subject to this Article X,
upon the date specified in the Award Agreement evidencing the Deferred Share Units, for each such Deferred Share Unit the Participant
shall receive, as specified in the Award Agreement, (i) a cash payment equal to the Fair Market Value of one (1) Share as of such payment
date, (ii) one (1) Share or (iii) any combination of clauses Section 10.5 and Section 10.5.

 

ARTICLE XI

 

OTHER STOCK-BASED AWARDS

 

Section 11.1     Grant of
Stock-Based Awards. The Administrator is authorized to make Awards of other types of equity-based or equity-related awards (“Stock-Based
Awards”) not otherwise described by the terms of the Plan in such amounts and subject to such terms and conditions
as the Administrator shall determine. All Stock-Based Awards shall be evidenced by an Award Agreement. Such Stock-Based Awards may
be granted as an inducement to enter the employ of the Company or any Subsidiary or in satisfaction of any obligation of the Company
or any Subsidiary to an officer or other key associate, whether pursuant to this Plan or otherwise, that would otherwise have been
payable in cash or in respect of any other obligation of the Company. Such Stock-Based Awards may entail the transfer of actual
Shares, or payment in cash or otherwise of amounts based on the value of Shares and may include, without limitation, Awards under
Subplans designed to comply with or take advantage of the applicable local laws of jurisdictions other than the United States.

 

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Section 11.2     Automatic Grants for Directors. The Administrator
may institute, by resolution, grants of automatic Awards to new and continuing Directors, with the number and type of such Awards, the
frequency of grant and all related terms and conditions, including any applicable vesting conditions, as determined by the Administrator
in its sole discretion.

 

ARTICLE XII

 

DIVIDEND EQUIVALENTS

 

Section 12.1     Generally. Dividend Equivalents may be
granted to Participants at such time or times as shall be determined by the Administrator. Dividend Equivalents may be granted in tandem
with other Awards, in addition to other Awards, or freestanding and unrelated to other Awards. The grant date of any Dividend Equivalents
under the Plan will be the date on which the Dividend Equivalent is awarded by the Administrator, or such other date permitted by Applicable
Laws as the Administrator shall determine in its sole discretion. Dividend Equivalents may, at the discretion of the Administrator, be
fully vested and nonforfeitable when granted or subject to such vesting conditions as determined by the Administrator. For the avoidance
of doubt, Dividend Equivalents with respect to Performance Awards shall not be fully vested until the Performance Awards have been earned
and shall be forfeited if the related Award is forfeited. Dividend Equivalents shall be evidenced in writing, whether as part of the
Award Agreement governing the terms of the Award, if any, to which such Dividend Equivalent relates, or pursuant to a separate Award
Agreement with respect to freestanding Dividend Equivalents, in each case, containing such provisions not inconsistent with the Plan
as the Administrator shall determine, including customary representations, warranties and covenants with respect to securities law matters.

 

ARTICLE XIII

 

TERMINATION AND FORFEITURE

 

Section 13.1     Termination for Cause. Unless otherwise determined
by the Administrator at the grant date and set forth in the Award Agreement covering the Award or otherwise in writing or determined thereafter
in a manner more favorable to the Participant, if a Participant’s employment or service terminates for Cause, all Options and SARs,
whether vested or unvested, and all other Awards that are unvested or unexercisable or otherwise unpaid (or were unvested or unexercisable
or unpaid at the time of occurrence of Cause) shall be immediately forfeited and canceled, effective as of the date of the Participant’s
termination of service.

 

Section 13.2     Termination for Any Other Reason. Unless
otherwise determined by the Administrator at the grant date and set forth in the Award Agreement covering the Award or otherwise in writing
or determined thereafter in a manner more favorable to the Participant, if a Participant’s employment or service terminates for
any reason other than Cause:

 

(a)      All Awards that are unvested or unexercisable shall be immediately forfeited and canceled, effective as of the date of the Participant’s
termination of service;

 

    24 

     

    

 

(b)     
All Options and SARs that are vested shall remain outstanding until (x) in the case of termination for death, Disability or retirement
at normal retirement age, the first anniversary of the date of the Participant’s death, Disability or retirement at normal retirement
age, (y) the three-month anniversary of the effective date of the Participant’s termination for any reason other than death, Disability
or retirement at normal retirement age or (z) the Award’s normal expiration date, whichever is earlier, after which any unexercised
Options and SARs shall immediately terminate; and

 

(c)     
All Awards other than Options and SARs that are vested shall be treated as set forth in the applicable Award Agreement (or in any more
favorable manner determined by the Administrator).

 

Section 13.3     Post-Termination Informational Requirements.
Before the settlement of any Award following termination of employment or service, the Administrator may require the Participant (or the
Participant’s Eligible Representative, if applicable) to make such representations and provide such documents as the Administrator
deems necessary or advisable to effect compliance with Applicable Law and determine whether the provisions of Section 13.1 or Section
13.4 may apply to such Award.

 

Section 13.4     Forfeiture of Awards. Awards granted under this
Plan (and gains earned or accrued in connection with Awards) shall be subject to such generally applicable policies as to forfeiture and
recoupment (including, without limitation, upon the occurrence of material financial or accounting errors, financial or other misconduct
or Competitive Activity) as may be adopted by the Administrator or the Board from time to time and communicated to Participants. Any such
policies may (in the discretion of the Administrator or the Board) be applied to outstanding Awards at the time of adoption of such policies,
or on a prospective basis only. The Participant shall also forfeit and disgorge to the Company any Awards granted or vested and any gains
earned or accrued due to the exercise of Options or SARs or the sale of any Company Common Stock to the extent required by Applicable
Law or regulations in effect on or after the Effective Date, including Section 304 of the Sarbanes-Oxley Act of 2002 and Section 10D of
the Exchange Act. For the avoidance of doubt, the Administrator shall have full authority to implement any policies and procedures necessary
to comply with Section 10D of the Exchange Act and any rules promulgated thereunder, and the implementation of such policies and procedures
pursuant to this Section 13.4 shall not be subject to any restrictions on amendment or modification of Awards.

 

ARTICLE XIV

 

CHANGE IN CONTROL

 

Section 14.1     Accelerated Vesting and
Payment. Except as otherwise provided in this Article XIV or in an Award Agreement or thereafter on terms more favorable to a Participant,
upon a Change in Control:

 

(a)     
each vested and unvested Option or SAR shall be canceled in exchange for a payment equal to the excess, if any, of the Change in Control
Price over the Option Price or Base Price;

 

    25 

     

    

 

(b)     
the vesting restrictions applicable to all other unvested Awards (other than freestanding Dividend Equivalents not granted in connection
with another Award) shall lapse, all such Awards shall vest and become non-forfeitable and be canceled in exchange for a payment equal
to the Change in Control Price;

 

(c)     
all other Awards (other than freestanding Dividend Equivalents not granted in connection with another Award) that were vested prior to
the Change in Control but that have not been settled or converted into Shares prior to the Change in Control shall be canceled in exchange
for a payment equal to the Change in Control Price; and

 

(d)     
all freestanding Dividend Equivalents not granted in connection with another Award shall be cancelled without payment therefor.

 

To the extent any portion of the Change in Control Price is
payable other than in cash and/or other than at the time of the Change in Control, equity holders under the Plan may (to the extent consistent
with Section 409A) receive the same time and form of payment in the Change in Control in the same proportion as the Company’s stockholders,
or the Administrator may, in its sole discretion, cause equity holders under the Plan to be paid in cash at the time of the Change in
Control. For avoidance of doubt, upon a Change in Control, the Administrator may cancel Options and SARs for no consideration if the aggregate
Fair Market Value of the Shares subject to Options and SARs is less than or equal to the Option Price of such Options or the Base Price
of such SARs.

 

Section 14.2     Alternative Award. No cancellation, acceleration
of vesting or other payment shall occur with respect to any Award if the Administrator reasonably determines in good faith, prior to the
occurrence of a Change in Control, that such Award shall be honored or assumed, or new rights substituted therefor following the Change
in Control (such honored, assumed or substituted award, an “Alternative Award”), provided, that any Alternative
Award must:

 

(a)      give the Participant who held such Award rights and
entitlements substantially equivalent to or better than the rights and terms applicable under such Award immediately prior to the Change
in Control, including, without limitation, an identical or better schedule as to vesting and/or exercisability, and for Alternative Awards
that are stock options, identical or better methods of payment of the exercise price thereof; and

 

    26 

     

    

 

(b)      have terms such that if, within two years following
a Change in Control, the Participant’s employment is involuntarily (other than for Cause) or constructively terminated (in each
case as the terms “involuntarily” and “constructively” are determined by the Administrator as constituted prior
to the Change in Control), at a time when any portion of the Alternative Award is unvested, the unvested portion of such Alternative Award
shall immediately vest in full and such Participant shall be provided with either cash or marketable stock equal to the fair market value
of the stock subject to the Alternative Award on the date of termination (and, in the case of Alternative Awards that are stock options
or stock appreciation rights, in excess of the Option Price or Base Price that the Participant would be required to pay in respect of
such Alternative Award).

 

Section 14.3     Section 409A. Notwithstanding the discretion
in Sections 14.1 and 14.2, if any Award is subject to Section 409A of the Code and an Alternative Award would be deemed a non-compliant
modification of such Award under Section 409A, then no Alternative Award shall be provided and such Award shall instead be treated as
provided in Section 14.1 or in the Award Agreement (or in such other manner determined by the Administrator that is a compliant modification
under Section 409A).

 

ARTICLE XV

 

OTHER PROVISIONS

 

Section 15.1     Awards Not Transferable. Unless otherwise agreed
to in writing by the Administrator, no Award or interest or right therein or part thereof shall be liable for the debts, contracts or
engagements of the Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation,
pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law, by judgment,
levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof
shall be null and void and of no effect; provided, however, that nothing in this Section 15.1 shall prevent transfers by will or
by the applicable laws of descent and distribution.

 

Section 15.2     Amendment, Suspension or Termination of the Plan or
Award Agreements.

 

(a)      The Plan may
be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator; provided
that without the approval by a majority of the shares entitled to vote at a duly constituted meeting of shareholders of the
Company, no amendment or modification to the Plan may (i) except as otherwise expressly provided in Section 4.3, increase the number
of shares of Stock subject to the Plan; (ii) modify the class of persons eligible for participation in the Plan; (iii) modify the
prohibition against repricing in Section 4.5 or (iv) materially modify the Plan in any other way that would require shareholder
approval under Applicable Law. Except as otherwise expressly provided in the Plan, neither the amendment, modification, suspension
nor termination of the Plan shall, without the consent of the holder of the Award, adversely alter or impair any rights or
obligations under any Award theretofore granted.

 

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(b)     
Except as provided by Section 4.3, the Administrator at any time, and from time to time, may amend the terms of any one or more existing
Award Agreements, provided, however, that the rights of a Participant under an Award Agreement shall not be adversely impaired
without the Participant’s written consent. The Company shall provide a Participant with notice of any amendment made to such Participant’s
existing Award Agreement(s) in accordance with the terms of this Section 15.2(b).

 

(c)     
Notwithstanding any provision of the Plan to the contrary, in no event shall adjustments made by the Administrator pursuant to Section
4.3 or the application of Section 13.4, Section 14.1, Section 15.6 or Section 15.12 to any Participant constitute an amendment of the
Plan or of any Award Agreement requiring the consent of any Participant.

 

(d)     
No Award may be granted during any period of suspension nor after termination of the Plan, and in no event may any Award be granted under
this Plan after the expiration of ten (10) years from the Effective Date.

 

Section 15.3     Effect of Plan upon Other Award and Compensation
Plans. The adoption of this Plan shall not affect any other compensation or incentive plans in effect for the Company or any of its
Subsidiaries. Nothing in this Plan shall be construed to limit the right of the Company or any of its Subsidiaries (a) to establish any
other forms of incentives or compensation for Service Providers or (b) to grant or assume options or restricted stock other than under
this Plan in connection with any proper corporate purpose, including, but not by way of limitation, the grant or assumption of options
or restricted stock in connection with the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock
or assets of any corporation, firm or association.

 

Section 15.4     At-Will Employment. Nothing in the Plan
or any Award Agreement hereunder shall confer upon the Participant any right to continue as a Service Provider of the Company or any of
its Subsidiaries or shall interfere with or restrict in any way the rights of the Company and any of its Subsidiaries, which are hereby
expressly reserved, to discharge any Participant at any time for any reason whatsoever, with or without Cause.

 

Section 15.5     Titles. Titles are provided herein for
convenience only and are not to serve as a basis for interpretation or construction of the Plan.

 

Section 15.6     Conformity to Securities Laws. The Plan
is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations
and rules promulgated under any of the foregoing, to the extent the Company, any of its Subsidiaries or any Participant is subject to
the provisions thereof. Notwithstanding anything herein to the contrary, the Plan shall be administered, and Awards shall be granted
and may be exercised, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable
law, the Plan and Awards granted hereunder shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

 

Section 15.7     Term of
Plan. The Plan shall become effective on the Effective Date, subject to approval by ordinary resolution of the stockholders of
the Company. If approved by stockholders, the Plan shall continue in effect, unless sooner terminated pursuant to Section 15.2,
until April 27, 2025. The provisions of the Plan shall continue thereafter to govern all outstanding Awards.

 

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Section 15.8     Governing Law. To the extent not preempted
by federal law, the Plan shall be construed in accordance with and governed by the laws of England regardless of the application of rules
of conflict of law that would apply the laws of any other jurisdiction.

 

Section 15.9     Severability. In the event any portion
of the Plan or any action taken pursuant thereto shall be held illegal or invalid for any reason, the illegality or invalidity shall not
affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provisions had not been
included, and the illegal or invalid action shall be null and void.

 

Section 15.10   Governing Documents. In the event of any
express contradiction between the Plan and any Award Agreement or any other written agreement between a Participant and the Company or
any Subsidiary of the Company that has been approved by the Administrator, the express terms of the Plan shall govern, unless it is expressly
specified in such Award Agreement or other written document that such express provision of the Plan shall not apply.

 

Section 15.11   Withholding Taxes.
In addition to any rights or obligations with respect to Withholding Taxes under the Plan or any applicable Award Agreement, the
Company or any Subsidiary employing a Service Provider shall have the right to withhold from the Service Provider, or otherwise
require the Service Provider or an assignee to pay, any Withholding Taxes arising as a result of grant, exercise, vesting or
settlement of any Award or any other taxable event occurring pursuant to the Plan or any Award Agreement, including, without
limitation, to the extent permitted by law, the right to deduct any such Withholding Taxes from any payment of any kind otherwise
due to the Service Provider or to take such other actions (including, without limitation, withholding any Shares or cash deliverable
pursuant to the Plan or any Award) as may be necessary to satisfy all or any portion of such Withholding Taxes; provided,
however, that in the event that the Company withholds Shares issued or issuable to the Participant to satisfy the Withholding
Taxes, the Company shall withhold a number of whole Shares having a Fair Market Value, determined as of the date of withholding, not
in excess of the minimum tax required to be withheld by law (or such lower amount as may be necessary to avoid liability award
accounting); and provided, further, that with respect to any Award subject to Section 409A of the Code, in no event shall
Shares be withheld pursuant to this Section 15.11 (other than upon or immediately prior to settlement in accordance with the Plan
and the applicable Award Agreement) other than to pay taxes imposed under the U.S. Federal Insurance Contributions Act (FICA) and
any associated U.S. federal withholding tax imposed under Section 3401 of the Code and in no event shall the value of such Shares
(other than upon immediately prior to settlement) exceed the amount of the tax imposed under FICA and any associated U.S. federal
withholding tax imposed under Section 3401 of the Code. The Participant shall be responsible for all Withholding Taxes and other tax
consequences of any Award granted under this Plan.

 

Section 15.12   Section 409A.
To the extent that the Administrator determines that any Award granted under the Plan is subject to Section 409A of the Code, the Award
Agreement evidencing such Award shall incorporate any terms and conditions required by Section 409A of the Code. To the extent applicable,
the Plan and Award Agreements shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations
and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued
after the adoption of the Plan. Notwithstanding any provision of the Plan to the contrary, in the event that following the adoption of
the Plan, the Administrator determines that any Award may be subject to Section 409A of the Code and related regulations and Department
of Treasury guidance (including such Department of Treasury guidance as may be issued after the adoption of the Plan), the Administrator
may adopt such amendments to the Plan and the applicable Award Agreement or adopt other policies and procedures (including amendments,
policies and procedures with retroactive effect), or take any other actions, that the Administrator determines are necessary or appropriate
to (a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect
to the Award, (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance or (c) comply
with any correction procedures available with respect to Section 409A of the Code. Notwithstanding anything else contained in this Plan
or any Award Agreement to the contrary, if a Service Provider is a “specified employee” (as determined pursuant to Section
409A under any Company Specified Employee policy in effect at the time of the Service Provider’s “separation from service”
(as determined under Section 409A) or, if no such policy is in effect, as defined in Section 409A of the Code), then, to the extent necessary
to comply with, and avoid imposition on such Service Provider of any tax penalty imposed under, Section 409A of the Code, any payment
required to be made to a Service Provider hereunder upon or following his or her separation from service shall be delayed until the first
to occur of (i) the six-month anniversary of the Service Provider’s separation from service and (ii) the Service Provider’s
death. Should payments be delayed in accordance with the preceding sentence, the accumulated payment that would have been made but for
the period of the delay shall be paid in a single lump sum during the ten-day period following the lapsing of the delay period. No provision
of this Plan or an Award Agreement shall be construed to indemnify any Service Provider for any taxes incurred by reason of Section 409A
(or timing of incurrence thereof), other than an express indemnification provision therefor.

 

Section 15.13   Notices. Except as provided otherwise in an Award
Agreement, all notices and other communications required or permitted to be given under this Plan or any Award Agreement shall be in writing
and shall be deemed to have been given if delivered personally, sent by email or any other form of electronic transfer approved by the
Administrator, or sent by certified or express mail, return receipt requested, postage prepaid or by any recognized international equivalent
of such delivery, (i) in the case of notices and communications to the Company, to its registered office or (ii) in the case of a Participant,
to the last known address, or email address or, where the individual is an Associate employed by the Company or one of its subsidiaries,
to the individual’s workplace address or email address or by other means of electronic transfer approved by the Administrator. All
such notices and communications shall be deemed to have been received on the date of delivery, if sent by email or any other form of electronic
transfer, at the time of delivery, if delivered personally, or on the third business day after the mailing thereof, if sent by mail.

 

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